All that and so much more on making money. Charles President Trumps big beautiful monster, phase one of a trade deal with china is officially in the books. It is a big win. We know now there will be big repercussions if beijing doesnt deliver on its promise. Edward lawrence joins us from the white house to lay out more details of the agreement. Edward . Reporter the report right here goes into effect in 30 days now but within 60 days, with a notice from either side this report can be canceled. U. S. Trade representative Robert Lighthizer says this is a very detailed trade agreement. He says that it is a binding one, because every chapter starts with china shall follow through. Now, every chapter again starts with that, key phrase there. Now one of the key point in this, protecting intellectual property. The scope of that section is huge, according to u. S. Trade representative Robert Lighthizer. He says that it deals with breaching of systems to take in intellectual property. It deals with hackers. He says it deals with current and former employees who are trying to steal companys information. It is again a very specific agreement. The agreement outlines Financial Services and how that is going to be expanded market. For instance, Credit Card Companies like visa and mastercard would be allowed to do transactions within china now. A big part of this too is equity. China wouldnt allow u. S. Companies or any company in china unless the equity was enough within china to be able to meet their standards. Well, now, a company can use equity outside of china as example of how they are fully funded there. Can work inside of china. Now the enforcement in this agreement comes to a resolution in 90 days. It give as specific timetable. It is also very specific on steps that are going to happen. This enforcement works both ways for china and u. S. , on agriculture. The president s really happy. Listen to this. They will be spending much more than 200 billion over next few weeks, including 350 on agriculture alone. Some of the numbers i wrote down, on manufacturing they will be spending 75 billion they will be putting into our country, okay . They will be putting into our country, 75 billion on manufacturing. 50 billion worth of energy. That is great or our energy people. We were no the number one people in the world. Now were the Number One Energy group in the world. Were bigger than saudi arabia. Were bigger than russia. Reporter that is a specific timetable there that the u. S. Trade representative can follow to make sure china is following through. In this china will not be labeled a currency manipulator. But it lays out transparency steps china has to take in order to keep that label of currency manipulator off the books. Back to you, charles. Charles edward lawrence, thank you very much. As we move on to phase two i look forward to continued it forge future of greater harmony, prosperity, really commerce and far beyond commerce between the United States and china. This deal is phase one. Well probably conclude it with phase two. We dont expect to have a phase three but, it is something that we all want to get done. And it will be a tremendously big deal. This is something that will be so special, however, to our manufacturers, our farmers, our bankers, our service people. Nobodys ever seen anything like it. This is the biggest deal there is anywhere in the world by far. Charles President Trump saying this Historic Deal will lead to world prosperity and peace, while beijing is pledging to stop i. P. Theft, currency manipulation, a lot of folks warning about other things. In this also chinese counterfeit products continue to pour into the United States. Think about it, folks. Things like guns, drugs, even drivers licenses. So the worlds two largest economies have gotten together, weve signed a monumental watershed trade deal. The guy there from the very beginning from the hudson institute. Senior fellow Michael Pillsbury, by the way got a shoutout from President Trump today. This is your second shoutout. You have been something of a real guiding hand, right you . Never really talked about the thing in superlatives or gave it accolades that were unwarranted. By the same token you said it could be done. Were halfway there. Lets not forget, charles payne, who covered this in great detail over the last two years. Charles no, we wont forget that. The question is will china deliver . Yes the big question is, will china deliver . Will they go straight. Will they stop cheating . Based on the remarks there are three chinese comments from ambassador sway, the hardliner. Then liu he, and then letter from xi xinping. All three made very interesting point, charles. All three said the trade agreement has consequences for Global Growth and global peace. They seem to want to turn this agreement and fact of the cooperation to get to it, into a kind of a message that the u. S. And china are now going to cooperate. I was quite surprised by this. There was no nationalistic harsh language at all from the chinese side today. Charles lets go down that road. President trump said something similar that caught my attention. You know he said it would be dangerous if we continue the relationship the way it was going. Yes. Charles he said we will have stronger world peace. Were we heading towards a place of potential Armed Conflict over our lopsided trade relationship . I think the overall u. S. China relationship is included disasters. Korean war in 1950, happened basically by miscalculation. We didnt think they would intervene to protect north korea. They did. We lost about 30,000 americans in that war. Been a whole series of missed misunderstanding. And what i hope is being headed off today the deterioration might even get into military conflict. The president called us in afterwards for a little Smaller Group session. I think he is very concerned about the growth of Chinese Military power. As you know, charles, there is no arms control agreement between the u. S. And china. President trump now several times proposed that the next time we do an agreement with the russians, the current one expires just a year from now, he wants china to be part of it. The chinese have agreed to talk about the idea, can there be a threeway Nuclear Arms Control agreement. That too would be historic. It takes confidence between the u. S. And china to do that. First the chinese for the last decade said no, well not be a part of any arms control agreement. Their military forces are quite powerful. Theyre 80 of our economy in their strength. The military is roughly half the size of our military. We dont want an arms race with china. That may be what we headed off with this trade agreement. Neil that is powerful point, no one brought up, michael. I have to say with the new weapons or supersonic, subsonic weapons, putin tearing up the constitution in russia. We need all the countries together at a table. The space force is part of this. The president s new space force, no secret is focused on china. China will have more space launches that an america this year. Theyre active in space, military and civilian. We want to head off a space race with china seems to me, china. Charles costs less to fire off a rocket to the moon than making a movie about the moon these days. It really does. Before i let you go, michael, phase two. Yes. Prospects for it. The major hurdles, how can you handicap that for us . The idea of oneonone between xi and trump to get phase two started. That is very important. That will probably succeed. The second part are the subsidies of main target of phase two. We dont know exactly which Chinese Companies are subsidized by the government. We know it is massive. Billions, hundreds of billions even but if you saw the recent fortune 500 listing, china now has more Large Companies than we do. There are 129 Chinese Companies, compared to our 110 on the list. Charles the thing, michael, you and i both remember at one point we thought japan would overtake us because of all those big companies. Some were modern day potempkin villages. I have to let you go. I appreciate you rushing over here. Youve been spot on. We appreciate your wisdom throughout. Well still need you as you walk us through phase two, Michael Pillsbury. I get to come on the show again, charles . Charles you do. All right. Charles dow, nasdaq, s p, hitting alltime highs. Earnings season is ramping up. Right now more than 80 of the names in the s p 500 are trading above the 200day moving average. Big earnings beats for biggest most important industry names, helping to power the market higher. You have a shift in attitude with china trade. It is tough finding bargains. With many stocks priced for perfection it will get real dicey. How do we navigate this . To figure it out, ryan payne, Payne Capital management. Were not affiliated. Brothers from different mothers and ryan. First talk about the impact of the trade thing. It was ceremonial. News was already out to a degree, there has to be sort of a sigh of relief . Absolutely. This is where capex steps in. Companies last year said see how this goes, before they make decisions buying again. This clarity will be huge for gdp. Which will keep the market rocking and rolling, charles. Charles jason . You know, i think the backdrop of all of this, is still a friendly, liquidity providing u. S. Central bank that is kind of the final front ear of this permabullish market or what seems like it. Of course, signing today is clearly a bullish factor and whats even more bullish factor, larry kudlow talking about there will be tax cut a few months from now. Yeah, were talking about phase two. It would seem fundamentally the coast is clear. There are other things we need to look at. Right now, bullish. Charles that is kudlows dream. I dont think the markets believe that will happen this year. We know it es early into earnings season. So far so good. I would like to point tout people, unitedhealthcare, larger than goldman sachs. Significantly larger than target. They had a report today amazing. 61 billion revenue in three months. Five billion in profits. Almost 300 bill dollar market cap. The number three weighting in the dow. The number one weighting in the S P Health Care sector. It is driving up this market all by itself. It underscores economy. Goldman sachs i think botched release of earnings, they didnt explain how the earnings missed. That stock is higher. Revenue is great. They will get through the malaysia thing and charges one time hit. I look at united health, you mentioned it. Trading discount to the market. We look earnings going out. All about earnings in 2020. Earnings are looking pretty good. Charles can we get to 14, 15 yearoveryear earnings by the Fourth Quarter . Almost everyone, on paper everyone says it is consensus, but when you ask every professional on wall street, heck no, that is too much, too much optimistic. That is why i love strategist. They almost never get it right. That is the most bullish expectation for q4, charles payne. I love it. Well see. Charles Weekly Mortgage applications up 30 . Homebuyer demand hitting the highest level in 11 years. Part of my investment thesis, household formation. We seen it with permits. I think people are out there, building apartments, number one rated in long time. All we need for millenials to move out into these houses and apartments. If we get business invests higher to ryans point, we get homebuilder or housing investment, both which have been drags on gdp for a long time, if we turn those around, what kind of potential is that for the economy and markets . You know, i dont think well see another 25, 30 year in the nasdaq or 20 something in the s p in 2020. Mainly because it is an election year. Secondly because we did that in 2019. However, housing is interesting because while the stock market is trouncing its seven, 2018 alltime highs, housing is not. The big fundamental picture that housing is still undervalued massively relative to the overall size of the economy. Charles what is not necessarily undervalued. 80 of the market now above their 200day moving average. We were in a similar position in early 2018. We peaked in late january. Other things are going on. Including President Trump declaring war on global elite at davos but how much more choppiness makes market, how more vulnerable make the market shortterm . S p 19 times forward earnings. It is not cheap anymore. When you break out value from growth, value looks pretty cheap. If you look at financial stocks here, look at energy stocks, all are trading cheaper multiples. Im always provocative you look overseas. Valuations are amazing overseas. Dividend are great. Growth rates are looking pretty solid. Charles ryan, jason, two of my favorite guys, thank you both very much. We appreciate it. Thank you. Charles well follow markets throughout the hour. It is momentous day, whether buybacks be the floor for this rally. A lot more money comes pouring into the from corporate coffers. Speaker pelosi stopped dragging her feet. She sent the articles of impeachment to the senate. Florida congressman matt gaetz is here later in the hour. There is another landmark trade deal you heard from President Trump, usmca. What will finally happen to make that reality . It is huge. It might be bigger than china. It is next. Re prepared for the future. Surprise we renovated the guest room, so you can live with us. Im good at my condo well planned, well invested, well protected. Voya. Be confident to and through retirement. Most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. This rounds on me. Eat. Hey, can you spot me . Come on in. Find your place today, with silversneakers. Included in most Medicare Advantage plans. 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We are, looks like going to be able to process the usmca here in the senate this week. That will be good news for the senate and for the country. And something i think we have broad bipartisan agreement on. Charles joining me now, former Commerce Department deputy director, chris garcia. Usmca keeps flying under the radar. Our trade relationship with mexico and canada got even better this last year. They are number one and number two in terms of partners. Just how big is this . How big is the potential . Charles this is big. It could even be bigger as you said earlier than the china deal. The fact we have north of 700 billion worth of trade each year with canada. North of 670 billion of trade with mexico. What most folks dont understand the linkage between the u. S. Mexico Canada Agreement, usmca and the u. S. China deal. One is designed, the u. S. China deal, really enforce and crack down on the taking advantage of the night by china, that happened over last couple decades. Usmca is designed to increase trade between u. S. , mexico and canada. And were reorienting the supply chain away from china back to north america. That is another key point not being reported enough but of course you got it covered here on your show. Charles we know mexico has been a huge beneficiary of that. Other countries in asia, particularly vietnam on that end. It just feels like wow, these trade deals, one after another. I think japan is still in the works. Overall, i know there were a the lot of naysayers, a lot of doubters out there, it feels like it was worth the effort . Absolutely. You think about, what we, what weve experienced over the last couple decades is systemic gutting of u. S. Manufacturing base. That is something that President Trump recognized coming in, running for president as a businessman, we needed to rebalance the Global Trading structure. That is precisely what he has done with the u. S. Canada mexico agreement, u. S. , mexico, Canada Agreement as well as u. S. China phase one trade deal. As Michael Pillsbury said, there are a couple things that make this specific u. S. Mexico Canada Agreement similar to that of china. They address Structural Reforms and they are fully enforceable. Were expecting americans to be appreciative what happened and bipartisan support led to this place today. Charles maybe not all americans. There is, chris a lot of bipartisanship but not unanimous the usmca got a lot of play last night. Bernie sanders explained why he is opposed to deal. We can do much better than a trumpled deal. Given the fact Climate Change is greatest threat phasing this planet i will not vote for a agreement that has very very strong principles that significantly lowers fossil fuel emissions in world. Charles your thoughts about that . Elizabeth warren says this is step in the right direction. It will get some relief to our workers. We try to help the people who need help. Seems like she has a realistic approach. I got back from los angeles. They have a saying, how am actors to change the light bulb. Four. One to change the light bulb and three that said they could have done a better job. Senator sanders has been in congress for decades. A president who took initiative to make things better. Something with previous administrations with all due respect werent able to do. We celebrate another mammoth victory. Charles hard to put it together, just how big these deals are. Theyre big. Chris, thanks for helping us out, buddy. We appreciate it. Thank you. Charles articles of peach to head to the senate. Did stall tactics work . Iran warning United States troop that they may be at risk. Is this a time for the senate to limit the president s war powers powers resolution will weigh in on that next. A new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. 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Pick up the phone and call americas gold authority, u. S. Money reserve. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. Charles well the house voting along party lines to send articles of impeachment against President Trump to the senate this coming after Speaker Nancy Pelosi revealed seven impeachment managers when this case does go to trial. They will include jerry nadler and adam schiff. What does it mean for the case as it goes forward . Here to respond, Florida Republican congressman matt gaetz. Thanks for joining me. Thanks for having me, charles. Charles the moment of truth is finally here. Well finally get the thing. What will happen . What is the american public, what should we be bracing for . First nancy pelosi told us that President Trump was a clear and present danger to the american people. Then she waited through the holidays and several weeks beyond to finally send the impeachment articles over. Here is what i can tell you, the evidence against the president is bad but the lawyers presenting the evidence are not uncompelling. Nancy pelosi picked her ateam as impeachment managers. It is my expectation well do the same with outstanding legal talent representing the president. Cant get into any specifics. I think you will see the president announce a legal team that has got some real star power, some real firepower. When we get to litigating these facts on the floor of the senate, im confident the president will be acquitted. Charles congressman gaetz, part of holdup, there were talks of doing more than two articles of impeachment. In todays announcement they were talking about new evidence. I find it compelling new evidence at this stage if you already made up your mind you had a slamdunk case. Is there evidence that the democrats are grappling how they try to sell to close the deal . 44 of the democrat caucus was for impeachment before President Trumps call with president zelensky even occurred. Since then weve been playing pin the tail on the favorite impeachment theory. There were times it was bribery. There were times it was extortion. Now the democrats, settled on two amorphous articles of peach people. Like staring at ink blot hoping you see what they see. They may try to develop evidence in the house of representatives. That is not a consequence of any legal strategy. Charles right. This it is a political strategy. They are so committed to the impeachment narrative. They have no agenda. Were pretty much doing nothing else in the United States congress these several weeks because impeachment has been allin move of democrats and like an ad dick, cant get off of something theyre addicted to. Democrats cant get off impeachment as political strategy. Charles maybe you should patent that the pin the tail thing. I like it. I want to you about this also. Democratic colleagues blocked resolution supporting iranian protesters, condemning shootdown the jet. Limiting war power moves. A move you supported in the house. You got a lot of flak for you. Are you okay with your decision why did you make it. The resolution i voted for offered no criticism of President Trump or policy choices he made. As a matter of fact it was my amendment that removed any criticism of President Trump from the resolution before the house. I havent seen the work product in the senate. So i dont want to comment on it. What i have seen is the trump doctrine working in iran. The maximum Pressure Campaign aligned with a red line that you cannot kill americans, and reset of deterrents by killing assume assume soleimani youve seen reallying anything of opposition to the ayatollah and brutal regime in the streets of iran. That is testament to the sound policy choice the Trump Administration made. That said, charles, i would never vote to give any president an endless leash or Unlimited Authority to bring our nation into another decadeslong war. I know President Trump shares that view. Charles congressman gates, always a pleasure. Thank you. Thank you. Charles last nights democratic debate was all over the place, candidates going in circles. Coming up i will show you what candidates should have been talking about. I actually have a chart to prove it. The leftwing media disappointed in last nights debate with one pundit saying the democrats need to do better and there is nothing to show they can beat donald trump. Our analysis right after the break. The only way we beat trump is by a campaign of energy an excitement and campaign that has by far the largest voter turnout in the history of this country. My body is truly powerful. I have the power to lower my blood sugar and a1c. 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I think the best way to talk about who can win is by looking at peoples winning record. So, can a woman beat donald trump . Look at the men on this stage. Collectively they have lost 10 elections. The only people on this stage who have won every single election that they have been in are the women, amy and me. [cheers and applause] so true. Charles take that all right, key moment from the democratic debate. As a result of a dispute between longtime friends, even allies, Elizabeth Warren and bernie sanders. They sparred over whether or not a woman could win or couldnt win. One of only heated moments of the debate. The leftwing media called it dull, disspiritting. Not what you want to hear 19 months from iowa. Host of rick ungar show, rick ungar and from bernies 2016 campaign, tesla figaro. We were told it would be a battlesexists, if you will, he said she said. Meantime did anybody light this thing up . It was equivalent after chilled Building Fund of a church Building Fund administrative meeting. No punches were thrown. Interesting everyone is afraid of bernie sanders. I dont know if theyre afraid of him, his consistent record or his followers. No one touched him at all. He was leading in iowa before the debate and he is leading now. No one came for him. Warren had a slick comment but still didnt do well. They want to be in a position, call trump a liar all the time, 24 7, she had a opportunity to say, senator sanders, youre lying on my name. Where i come from, what someone says about your name and character means a lot. It wasnt people didnt want to see people fight, they wanted to know theyre in the fight to take on trump. You cant hug your way through a trump debate. It leaves some concern on how they will move forward. I think people wanted to see if any candidates had a pulse. Rick to that point because maybe they didnt have to dissanders. Cnn did. They essentially said he was lying when they asked the question about Elizabeth Warren. Something is not right. With those candidates on the stage last night, if you were toggling back and forth between the trump rally, it felt like night and day. Here is what you keep in mind. I agree with you completely, it was absolute snooze fest. I like the definition we just got from taz lynn. Everyone was playing for second, because the way the Iowa Caucuses work, you want to be everybodys second choice because odd are, that means when somebodys choice, doesnt get to that 15 , people have to ditch that in the next round and they go to second choice. Charles popularity contest . This is the way Iowa Caucuses work. It is just the way they do it. All of them were literally playing to be second. Charles was anyone playing to be president of the United States . Thats thats a great questit really is. I certainly didnt feel like they were. Did you hear anybody in the debate take on the president of the United States . Not once were they going after donald trump. Which is what the democratic voters want to see. Didnt happen. Charles where are we now . We starred three or four months ago. This will be the woke campaign, right . You had women. You had blacks. You had his hispanics. Would lead modern day, millen corral driven hip party and feels like the same kind of stuff. Same kind of stuff, same kind of stuff it was two years ago. The reason people are disappointed, just like you mentioned at the beginning of this campaign, it was all about, im glad you brought that up. Everyone said no one brought up the word black only three times. Tom steyer, shout out to him he was one that did it. I explain to people this is the game played time and time again. You wont hear black folks mentioned until south carolina. We not just deal with Voter Suppression but voter depression. People are picking up on the gimmick. It is not enough to say you want someone of color. I actually used the word black on stage. It has to be someone to motivate voters. That unfortunately that hasnt happened. We have more of the same. Charles it is democrats do identity politics. They hurt themselves. They set the stage. It is eating them up. I wish i had more time. Obviously well do this a lot more. Thank you both very much. Meantime the final debate before the Iowa Caucuses. They talked about electability. They did talk about foreign policy. They tried to hit trump, their favorite target. Very little talking about the biggest issues. That is really the expenses of raising a family in the face of voters. While candidates might ignore what matters to you, we are not, we are one week away from our invested in you Live Audience show, january 22nd, 2 00 p. M. Eastern. Hosted by yours truly. Go to foxbusiness. Com right now if you want to be a part of it because i would love to see you there. Well be right back. 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Get a nofee personal loan up to 100k. Charles economy continues to be a Freight Train with know signs of slowing down, prices on the important goods and services are skyrocketing. Health care, housing, food increase 200 since 1998. One of the biggest offenders with child care costs. That has gone up 120 . If you have kids i dont need to tell you. This is what candidates need to talk about. Certainly we didnt hear enough last night. Joining me to discuss, independent womens policy advisor hadley heath manning. Theyre wasting a lot of time trying to convince People Economy isnt good. Went in circles on middle east policy im still confused. This is lowhanging fruit, everyone, no matter the political persuasion frustrated with the issues . Economy is very strong. It is hard to attack a strong economy. The way we see democrats reframing Economic Issues now if theyre smart, theyre focusing on whether or not our economy is fair. Particularly issues, Housing Health care, education costs those are huge burdens for working families. The costs skyrocketed over time, in part due to interventions from bad public policy. Government subsidization, and unfortunately what were hearing any proposals to fix things, it is more of the same. Charles it is so interesting. We had the Producer Price index which is inflation gauge. Consumer price index yesterday. Both came in less or weaker than anticipated. Price for things like televisions have dropped to nothing. Yet, you know, child care, it costs more to raise kids, children in 28 states than it does for college tuition. The Trump Administration wants to hit this hard. They put something in the last budget for federal workers, paid leave but feels to me, could be one of the defining issues no one is talking about but could make a difference in the election this year. Sure. Certainly we have seen big changes in terms of womens employment over the last couple of generations and now that we have more households with Single Parents or with two earners demand for child care has skyrocketed. On other hand, charles, there is a lot of regulations on the child care industry. It is one of the most highly regulated. In part for good reason. We want children to be safe and hold child care providers accountable, what theyre providing how laborious, that is hard work. Certainly workers deserve to be paid well. Some regulations are not necessary. Child to staff ratios in some states, that are simply so low parents dont have affordable options. We need to talk about issues about making life more affordable and doable for working families. I hope they dont talk about raising tax to fix this which everyone acknowledges is a problem. Thank you, hadley. Thank you, charles. Were watching the markets. The dow closing on pace to close above 29,000 t would be the first time it ever closed above there. Bitcoin, me too, big moves. I will dive deeper into what might be moving it right now. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Hes a systems quarterback. Wheres the truck . What . Parked it right there. Male voice what did i tell you, boys . Tonight we eat like kings chuckling youre a genius, gordon brake hit the brake uh, which ones the brake . crash, bottles smashing stop stop stooop brakes squealing whats happening . What . Theres a half of cheesesteak back there. With geico, the savings keep on going. Just like this sequel. 15 minutes could save you 15 or more on Car Insurance. Raccoon i got the cheesesteak charles market hitting new alltime highs. U. S. Officially signed a phase one trade agreement with china. Liz claman joins us live from the white house where she had a sitdown with a Key Administration official. Did you go through the whole thing already . Guess what, charles . Because that luncheon went so long, larry kudlow who of course is the chief Economic Advisor to the president , will join us live. You know i much prefer that, right . Because that way our viewers can hear exactly what theyre saying in real time and, i know you may have heard the president say that when larry spoke before the event today, the markets jumped about a trillion in market cap. Well watch the. Larry will come up with the north lawn behind me. We have serious questions for him a lot of people want to know. Number one, what will it take for all tariffs to be dropped against china . When will we see phase two . We keep hearing after the president ial election. Why . Perhaps just as importantly, the American Farmer, American Farmers have waited 18 months for this deal and they have been waiting, chars, i dont know if you know this, we checked numbers, 580 American Farms had to file for bankruptcy because they just couldnt hold on any longer. Charles right. So we also will be speaking to the American Farm bureaus executive Vice President to find out exactly how it is being received now. Plus, all of that and more as we watch the markets. We could see a trifecta of alltime record highs. So you have to stay with us. Charles what a perfect guest to wrap up a amazing watershed day. Liz, we cant wait to watch it. Folks, tune in to the claman countdown at of top of the hour. Larry kudlow live. That will be huge. Lets go to the floor of the New York Stock Exchange to find out about what traders are saying about phase one. Gerri, what is the investors saying down there tort port to it is a nothing burger. Everybody feels they know what is in it. Fine, move on. We were up 141 points. Up 160, just as thing was being put in front of the public. Algos are trading on three words. You saw volatility midday. We have the humans going through page after page of this thing trying to figure out what it means. Let me tell you they were looking for negative stuff and i dont think theyre finding it. Lets dig into the stocks to see what is going on beneath the hood. 3m. Caterpillar, those stocks down. These are big are they worst performers . No, theyre not worst performers. Jpmorgan chase is the worst dow performer. Surprisingly theyre trading in line with other bank stocks that reported earnings, they reported disappointing earnings. Back to you. Charles gerri willis thank you very much. Over the past year there have been numerous spikes in bitcoin often accompanied by no obvious news. Each subsequent move faded quickly after the trend line. Series of lower highs as you sigh from the chart now being challenged, break out into cybersecurity, probably attracts additional buyers, some which made a lot of money buying dips and selling these rallies. Well be watching bitcoin and well be right back. What a time to be alive. The world is customized to you. Built for you. So why isnt it all about you, when it comes to your money . So. Whats on your mind . We are edward jones, a 97yearold firm built for right now. With one Financial Advisor per office, were all about knowing whats important to you the one who matters. Edward jones. Its time for investing to feel individual. And my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey my focus is on the road, and thats saving me cash with drivewise. Whos the dummy now . Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby charles stocks hitting all time highs, phase one china trade deal finally signed as the s p 500 financials kicking off Fourth Quarter earnings season with a bang. Investors looking for high dividends are in luck also. Last year we saw a payout of over 500 billion, the first time ever. Still, though, less than buybacks. Will that put a floor under this rally . Gary kaltbaum joins us now. Gary, it feels like these corporations, i know theres been criticism of it, but they go out, they buy these their own stock and its worked. Look at apple, its worked and it feels like they have a lot of dry powder right now. I dont know why anybody would complain about buybacks. Look, its a corporations right to do what they want. If they have a ton of cash, go right ahead. It does help earnings per share, it takes stock off the market and actually helps the stock. The one thing i complain about is when i there are Certain Companies i will leave them out of this conversation, that keep missing estimates, sales keep going down but yet they keep buying back their stock. Looks like they are trying to engineer a few things. Theres a difference between apple and some of these others out there. For me, to each his own. Charles let me help you. I did a case study on this. The difference between apple and a gamestop, which was buying its own stock thats different. Charles 56 a share, then giving the ceo stock as a bonus and a company that was losing it, and not prepared for a business that was going to go from brick and mortar online to everyone saw it happening against gamestop. I put it out there. And thats where as an investor, you must follow price and you have to use your eyes. If you have gone to a bunch of Gamestop Stores over the last couple years, you will notice its been down, sales, 20 year over year, and thats something you can see. Meaningful, you are correct, sir. Charles im looking im going beneath the hood here. We are up 140 points but by far, the biggest winners are utilities, up 1. 5 , Consumer Staples are higher, health care is higher. Some great earnings there. Theres a cautionary tone even though we are up really big in this market right now, and some of your favorites like semis look like they are starting to give some back. Im not worried about it. I think the semis have just had a strong run, normal to pull back. I look at a bunch of software names, up very strong today. I dont mind that utilities are having that day. Look what Interest Rates are doing. They are justaying down. Its a good rotation in the market and i must tell you, bear markets are lasting a day right now. Until that dynamic changes, i suggest you probably want to be looking for stocks. Charles i love your attitude on this kind of stuff. Far too often, professionals come on and are trying to guess the top. Its folly. You miss out on big moves and individual investors have been falling into the same trap. What do you say to them . I have studied 100 years of history in the markets. Tops do not happen in a day. They happen over months where stock by stock, sector bisector start to break down. We are not even close. Advance, decline figures, indices at new highs, new highs that have been expanding. I see nothing that tells me a top is at hand at this juncture. Anybody who thinks so is not watching the same market im watching. Charles gary, thank you very much, my friend. Dow is up 130 points as we hand it over to liz claman and a very special guest. Liz you know what, charles, very special moment for wall street. We are looking at major records in just the next 59 minutes, we will be watching that. History in washington and on wall street. The signing of that phase one trade deal with china propelling the markets to new alltime highs. By the way, the dow right now on pace to close above 29,000 for the first time in history. You guys need to stay with us for this final hour, because all three major indices are heading for record closes. The president calls the 200 billion plus deal a momentous step that will trigger a sea change in international trade. Larry kudlow has