Thank greg hayes and his team at United Technologies, Bob Mcdonough and the team at carrier. Thank you for renewing your commitment to indiana and renewing your commitment to the people of the United States of america. [applause] i also just want to thank the great carrier team here in indianapolis and in the state of indiana. Your hard work, your resilience, your work ethic even in disappointing times, i know for a fact gave this company the confidence to double down on the future of this company and the future of the people of this state, and so i thank you, the carrier team, for giving them the confidence to do just that. [applause] but lastly, on behalf of all the people of indiana, allow me to thank the man we wouldnt be here without for his efforts, for picking up the phone, for keeping his word. His efforts to bring us to this day of renewed hope and promise not just here in indiana, but really for people that know the strength of this country comes in our ability to make things and to grow things. Its a renewed day for manufacturing inc america. You know, i remember when donald trump was running for president , he said that if he was elected president of the United States, america would start winning again. Well, today america won, and we have donald trump to thank. [applause] and ive got a feeling working beside this extraordinary man this is just the beginning of a lot more good news all across america. So without any further ado, my fellow hoosiers, it is my high honor and distinct privilege to introduce to you a man of action, a man of his word and the president elect of the United States of america, donald trump. [cheers and applause] thank you. Thank you, everybody. Thank you very much. [applause] thank you very much. I love that red hat. Thank you, everybody. I want to thank all of the dignitaries that are with us today. We have a whole host; the mayor and governorelect. Great people. Its a big victory for the governorelect. He won very convincingly, so were very proud of him. And, you know, mike has been such a wise decision for me. When people were saying, i dont know, how good is he at decision making, theyd always say, yeah. Thats a good decision. And Everybody Loves mike. Hes become something very special. [applause] i want to thank greg hayes of United Technologies, because when i, when i called him, he was right there. I wish i could have made the call when they were doing their original decision, but it worked out just as well other than i would have liked to have had an answer a year and a half ago. We had a tremendous love affair with the state of indiana. Because if you remember during the primaries, this was going to be the firewall. This was where they were going to stop trump, right . And that didnt work out too well. And it was a firewall for me, it was a firewall. And we won by 16 points. And the election we just won by 20 points, almost 20 points. [applause] and that was some, that was some victory. Thats pretty, thats pretty great. And i just love the people. Incredible people. So i got involved because of the love affair ive had this has been a very special state to us. And ill never forget, about a week ago i was watching the nightly news. I wont say which one, because i dont want to give them credit, because i dont like them much, ill be honest. [laughter] i dont like em. Not even c little bit. But they were doing a story on carrier. And i say, wow, thats manager. I want to see that thats something. I want to see that. And they had a gentleman, worker, great guy, handsome guy. He was on. And it was like he didnt even know they were leaving. He said something to the effect, no, were not leaving. Because donald trump promised us that were not leaving. And i never thought i made that promise. Not with carrier. I made it for everybody else. I didnt make it really for carrier. And i said, whats he saying . Be and he was such a believer. He was such a great guy. He said, ive been with donald trump from the beginning. And he made the statement that carriers not going anywhere, theyre not leaving. And im saying to myself, man. And then they played my statement, and i said carrier will never leave. But that was a euphemism. I was talking about carrier like all other companies from here on to in, because they made the decision a year and a half ago. But he believed that that was and i could understand it. I actually said i didnt want make it, when they played it, i said i did make it, but i didnt mean it quite that way. So now because of him, whoever that guy was is he in the room, by any chance . [inaudible] thats your son, stand up. You did a great job. You did a great job, right . Thats fantastic. And i love your shirt. [inaudible] oh, wow. [laughter] oh, put it on, cameras, go ahead, put it on. [laughter] well, your son is great. Thank you. And he meant that, didnt he . He really meant it. At fist i said i at first i said i wonder if hes being sarcastic, because this ship has said. And then i said it was 6 30 in the evening. And i said, boy, the first thing im going to do is go there. And i say do i call the head of carrier whos a great guy, but ive always learned ive got to call the top. And i heard about greg hayes. Hes a great executive. You know, i dont know if you know, United Technologies is one of the top 50 companies in the United States. And one of the Top Companies anywhere in the world. They make many other things other than air conditioners, believe me. Their list of companies is unbelievable. I called greg hayes. I heard of him, but i never met him. And he picked up the phone, mr. President elect, sir, how are you. Its wonderful to win, you know . Think if i lost, he wouldnt have returned my call. [laughter] i dont know. Where is greg . If i lost and called i dont think you would have called. I would have tried, but i think it would have been tougher, right . Be what do you think, greg . Hes sort of nodding, yes, youre right. [laughter] but i called greg, and i said its really important. We have to do something because you have a lot of people leaving. And you have to understand, we cant allow this to happen anymore with our country. So many jobs are leaving and going to other countries. Not just mexico, many, many countries. And china is making so much of our product that werec closing up a lot of plants. And, i mean, i wrote down some numbers that are incredible. But the numbers of manufacturing jobs that are lost especially in the rust belt, and the rust belt is so incredible, but were losing companies. Its unbelievable, one after another. Just one after another. So i said, greg, youve got to help us out here. Weve got to sit down, weve got to do something. I said, because we just cant let it happen. Anyway, he was incredible. And he said, i understand. And i said i wish i made this call a year and a half ago, it would have been a lot easier call. Only because of your son, okay . Believe me. Your son, whoever the hell your son is, these people owe him a lot. And i just went through hes out in the factory. I thought they were all going to be in this room. This rooms not big enough. [inaudible] yeah. I dont know who arranged that one, because we just visited a thousand people in the factory that are going wild in the plant. But i will tell you that United Technologies and carrier stepped it up, and now theyre keeping, actually, the numbers over 1100 people, which is so great. Which is so great. [applause] and i see the people. I shook hands with a lot of the people. Theyre right behind us working. I guess, what is it, youre making some air conditioners, you didnt even want to have them come off for a half hour. Hes a ruthless boss. Hes ruthless. [laughter] but thats okay. You know, i did say one thing to the carrier folks and the United Technologies folks. I said the gooj deny goodwill that you have engendered, you watch how fast youre going to make it up, because so many people are going to be buying carrier air conditioners. You know, weve had such help here. Bobby knight, nobody in indiana never heard of bobby knight. How great is bobby knight . [applause] lou holtz, we had such incredible support. But ill never forget, a friend of mine called up during the primaries and said, you know, if you could get coach knight concern and i said, you know, coach knight called me a year ago, a year before i decided to run. He said if you ever run, im supporting you. I said, thanks, coach, i just dont know if im going to be doing it. And when he said if you could get coach knight, i tell you, i got coach knight. How good was bobby knight, as far as were concerned, in indiana, right . We got bobby knight. 900 wins. Two championships, right . Two or three championships. Olympic gold medal. Panam games. But and he was unbelievable. He wouldnt stop. He was just going all over. He was the greatest guy. We came into an arena, greg, and we had 16,000 people inside, outside, we had, i think, 10,000 outside. It was and i left, this was three weeks before the primary, and i said how are we going to lose indiana with this . I didnt think we were going to lose, and we didnt. We won big. So i want to thank all of those folks, because they really helped with indiana and with a lot of other places. So United Technologies has stepped up, and i have to say this they did it in such a nice andc such a professional way, d theyre going to spend so much money on renovating this plant. And i said, greg, say that number. You know, he said 16 million. Well, the minimum numbers 16. Its going to be, in my opinion, a lot more than that. He said, well, id rather say the lower number. See, id rather have him say the higher number, so i wont say it. [laughter] its just a difference in philosophy, do you agree . Both are okay. Theyre going to spend a lot of money on the plant. And i said to some of the folks, i said, companies are not going to leave the United States anymore without consequences. Not going to happen. Its not going to happen. [applause] tell you right now. Were losing our, were losing so much. So one of the things were doing to keep them is were going to be lowering our business tax from 35 hopefully down to 15 which would take us from the highest tax nation virtually in the world this is terrible for business to one of the lower tax. Not the lowest yet, but one of the lower tax. The other thing were doing is regulations. The regulations are in fact, if i asked greg and your folks, you would probably say regulations might be worse from you than even the high taxes, which is the Biggest Surprise of the whole political experience. I thought taxes would be number one, regulations would be up there someplace. Believe me, these great leaders of industry and even the Small Business people who are just being crushed, if they had their choice between lower taxes and a major, massive cutting of regulations, they would take the regulations. I dont know how you feel about that, greg. I just noticed i wrote down because i heard it since about six years ago 260 new federal regulations have passed, 53 of which affect this plant. 53 new regulations. Massively expensive and probably none of them amount to anything in terms of safety or the things that youd have regulations for. Six of eight of the airconditioning companies right now are located in mexico. Six of eight. I mean, think of that. And 80 of the supply chain for mexico, 80 , is located in mexico. And were not going to have it anymore. Were not going to have it anymore. And we like mexico. Its wonderful, i was there three months ago with the president of mexico. Terrific guy. But we have to have a fair shake. Were not getting anything. We have nafta, which is a total and complete disaster. [applause] its a total and complete disaster. [applause] its a onelane highway into mexico. Nothing coming our way, everything going their way. And i dont have to mention who signed it anymore, its so nice. I dont have to mention who backed it anymore, right . We dont have to mention that anymore, fortunately. T its a oneway street, and its going to be changed. Its going to be changed. We have to bring our jobs back. And when they expand, one of the things that made me so happy is when greg said that they havec over 10,000 jobs that theyre going to be producing in the very near future, and now hes looking to the United States instead of outside of the United States where almost all of those jobs would have gone. So one of the reasons i wanted to do this particular conference is its so great. So many people in the other that big, big beautiful plant behind us which will be even more beautiful in about seven months from now, theyre so happy. Theyre going to have a great christmas. Thats most important. But also i just want to let all of the other Companies Know that were going to do great things for business. Theres no reason for them to leave anymore, because your taxes are going to be at the very, very low end, and your unnecessary regulations are going to be gone. We need regulations for safety and environment and things, but most of the regulations are nonsense, become a major industry, the writing of regulations. Ask that these companies and that these companies arent going to be leaving anymore. Theyre not going to be taking peoples hearts out. Theyre not going to be announcing like they did at carrier that theyre closing up and theyre moving to mexico. Over 1100 jobs. And by the way, that numbers going to go up very substantially as they expand this area, this plant. So the 1100s going to be a minimum number. So i just want to thank everybody, and specifically i just have to thank the people that i met backstaging. Incredible people backstage. The spirit, the love people are are crying. Theyre all crying. And its taken us a little while, but think of this. I dont think we even announced we were running when this deal was originally announced. And in the end, what happened is because that makes it that much more difficult. Its hard to negotiate when the plant is built. You know what greg said . You know, the plant is almost built, right . I said, greg, i dont care. It doesnt make any difference. Dont worry about it. [laughter] what are we going to do with the plant . Rent it, sell it, knock it down, i dont care. But were going to do and theyre going to do fine with their plant. I dont know if theyre going to be able to do it with an american company, but well figure that out. [applause] but where were starting is from a much easier place. Thats hard a year and a half ago, they make an announcement, and, you know, all of that work is done. Which is why i have such respect i always say great business people, they have flexibility. If youre hard line, well, were not going to move flexibility, thats why its a great company, because they have flexibility. But were not going to need so much flexibility for other companies because we are going to have a situation where theyre going to know, number one, were going to treat them well and, number two, there will be consequences, meaning theyll be taxed very heavily at the border if they want to leave, fire all their people, leave, make product in different companies, in Different Countries and then think theyre going to sell that product be over the border which, by the way, will be a very strong border. Very strong border, believe me. [applause] think companies, were going to build a wall. People are saying, do you think trumps going to build a wall . Were going to build a wall. People are going to come through that wall, were going to have doors in that wall, but theyre going to come through legally. Its going to be done through a legal process. But one thing thats not going to come through is drugs. The drugs are going to sop. The drugs are going to stop. [applause] so i just want to thank all of the people at United Technologies, most particularly you, because you are fantastic, greg. I want to thank, and i want you to tell me how much, how many airconditioning units you sold in the last six months from today, because i want to say i think its going to be a number that even will surprise your folks because of the tremendous goodwill that youve created. I want to thank all of the workers at this plant, all of the carrier workers most importantly,. Importantly [applause] i want to thank my great, great Vice President elect, because ill tell you what, one of the really good decisions, but i want to thank mike. And were going to be doing this. And if i have to tell you, you know, during speeches they say its not president ial to call up these massive leaders of business. I think its very president ial. And if its not president ial, thats okay. [applause] thats okay. Because i actually like doing it. But were going to have a lot of great people that can also do it and do it as well as i do it. But were going to have a lot of phone calls made to companies when they say theyre thinking about leaving this country, because theyre not leaving this country. Theyre not going to leave this country, and the workers are going to keep their jobs. They can leave from state to state, and they can negotiate good deals with the different states and all of that. But leaving the countrys going to be very, very difficult. So i want to thank everybody. We love you folks. I want to really, really thank the people of indiana. We had two massive victories in a very, very short period of time. And all of the workers have a great, great christmas and a fantastic new year. Thank you very much, everybody. Thank you. [cheers and applause] thank you. Thank you very much. Liz so imagine that, a president ial election winner making good on a Campaign Promise even before hes inaugurated. It just happened. President elect donald trump saying he went straight to the top to save some 1100 airconditioning jobs in indiana. You just saw him speaking at carrier headquarters. Says he calls the Parent Company of carrier, United Technologies, and asks to speak to the top dog, Ceo Greg Hayes took that call, and today as you just saw he formally announced it, a deal has been struck to keep those jobs that were headed to mexico right here in the United States. And you know what . I dont know if you saw Vice President elect mike pence before that introducing mr. Trump, he said, you know, donald trump picked up the phone i was in the room, i saw him do it. This was during the election campaign. He talked to anybody that would listen and told them, if elected, he was going to put american jobs and American Workers back in america. And you could say that today the first fruits ofc that labor hae been, of course, sprung, right . You cannot underestimate, by the way, the importance of this visit to the carrier plant. Donald trump won the presidency very much in part due to the fact that he paid attention to the part of the u. S. Economy that felt most ignored, and that would be manufacturing. This may help everybody understand how crucial manufacturing truly is. Here are some numbers. Manufacturing businesses contributed 2. 17 trillion to the u. S. Economy in 2015. Those are the most recent numbers we have. And for every dollar spent in manufacturing, another is then added back into the economy. So lets bring in somebody who had a crucial role in shaping the american economy, particularly during one of the most difficult times, postfinancial crisis. Hes sitting there with president george bush. Were honored to have former acting treasury secretary Robert Kimmitt who served under president bush and, i believe, for a bit under the obama administration. Is that correct . No, liz. I left at noon on january 20th, 2009. Liz okay. So right on that day that president obama came in. Mr. Secretary, thank you for joining us. The carrier win is vastly important even though it is 1100 jobs, each one truly matters. But a president , you could argue, doesnt have time to piecemeal convince u. S. Operations here. How can President Trump best help the Manufacturing Industry in its entirety, in the aggregate . Well, liz, let me first join you in saying how refreshing it is to see a candidate live up to a campaign pledge. Liz a promise, yeah. But youre right that a president , once he takes office given his global responsibilities, wont be able to do this on a daytoday basis. Hell have a good team of people, wilbur ross, steve ma knew chin and others who can help, but i think that the president elect put his finger on it. Lower regulation, lower taxes, create a better Investment Climate both to create and maintain jobs in the United States. And i thought it was interesting that he said keeping regulations as low as possible is as important as keeping taxes as low as possible. Liz but, mr. Secretary, again, lets talk about the future and how he handles other businesses. Because, look, there could be up intended consequences from this. You have the naysayers who say, oh, now a lot of other businesses are going to say i want 7 million, because as far as we know, this company got about seven million in tax breaks over the next decade which actually isnt a huge amount. But, you know, how do you prevent that from happening where you get a bunch of companies seeing, perhaps, a government till and kind of bellying up to it, saying, well, i might leave, give me a tax incentive . I think each company has the right to do that, but at the end of the day, the biggest incentive is going to be comprehensive tax reform with lower corporate rates, more certainty for investors to make decisions on how to expand their operations in the u. S. Or create new operations. I would also say this message was not just forc u. S. Domestic audiences, its very important for people overseas to understand that the president will leave up to his commitments. Because we have 6. 5 million americans who work in this country, but for companies headquartered overseas, interestingly, 40 of those jobs are in manufacturing versus 13 of overall economy. So we want to send messages both to our companies at home, but also to those Companies Overseas who want to invest in the american marketplace and the american worker. Hizly well, thats what ireland did. They made it so attractive that a lot of u. S. Companies left here and went there for domicile to headquarter there so they got the tax break. So we really need, im hearing you say, to do Something Like that. You mentioned the new team and Steve Mnuchin taking the job that you once held. Listen, he already laid out a few very Broad Strokes about things like cutting the Corporate Tax rate and what individual tax rates would be. And we can put some of those on the screen as we have them. How can we do that . We would have rising, certainly rising debt. We know we have that. And you as treasury secretary probably dealt with a debt ceiling or two. Were coming up against one in march of 2017. What are we going to do about that . We need to service massive 21. 1 trillion in tet, and im just wondering, do but do tax cuts for all . How do we not only service the debt, but also pay down some of it . What i heard the secretarydesignate say is were going to come up with a tax reform proposal that fundamentally is going to be revenueneutral. I dont think its going to add to the deficit, but the key thing is Going Forward what he called sustained Economic Growth is the key. The more growth we have, the more people we have working, the more people we have working, the more they pay in taxes even at lower rates, and it creates a virtual cycle where those lower rates create opportunity, create jobs, help us take on not just the deficit, but also the debt. Liz yeah. Well, it is, its a huge undertaking, but this is a major, major first step on a long journey that donald trump has certainly taken with confidence. Good to see you, bob. Thank you for being with us. Thank you, liz. Liz former acting treasury secretary under president george w. Bush during a very challenging time. By the way, keep it right here on fox business. We have special coverage of Donald Trumps thank you tour which is kicking off. Lou dobbs tonight has a special twohour show, it begins at 7 p. M. Eastern. Youve got to watch that, and then you cant miss kennedy. Shes immediately after. All the news thats developing around this. Speaking of developing news w the closing bell about 34 minutes away, the dow is at a record high. Will we close there . We didnt manage to make it yesterday. We look like we might get there today, but you never know. What is sort of keeping a cap on the gains . Visa. Its among the biggest laggards, announcing its giving gasoline stations an extra three years to install chip card readers. And investors dont seem to like that. That stock is pullingd by 1. 84. And did you see this . The angels got their wings in paris last night at the annual victorias secret fashion show. Models Kendall Jenner or and bella and gigi hadid strutting down the catwalk as lady gaga and bruno mars performed live. The star . A 3 million fantasy bra made of white diamonds [laughter] shes wearing it there. 9,000 emeralds and other gemstones. This apparently enough to warrant an entire Television Show which will air on cbs on monday, just so you know. Parent company elle brands is moving higher by 2. 5 today. It announced that victorias secret helped boost samestore sales by 4 in november alone. Why is it down 27 this year . Well, well deyou. Maybe because lingerie upstarts like adore me are taking on victoria and her secret. No denying the models are sexy, but working in the Manufacturing Sector up until now hasnt been sexy for jobseeking millennials. The eyes and ears of millennials, carolyn gohn says thats about to change. Manufacturing sexy . Countdown coming right back. I use whats already inside me to reach my goals. So i liked when my doctor told me i may reach my blood sugar and a1c goals by activating whats within me. With onceweekly trulicity. Trulicity is not insulin. It helps activate my body to do what its supposed to do. Release its own insulin. Trulicity responds when my blood sugar rises. An easytouse pen and i may even lose a little weight. Trulicity is a onceweekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. Trulicity is not insulin. It should not be the first medicine to treat diabetes or for people with type 1 diabetes or diabetic ketoacidosis. Do not take trulicity if you or a Family Member has had medullary thyroid cancer, if youve had multiple endocrine neoplasia syndrome type 2, or if you are allergic to trulicity. Stop trulicity and call your doctor right away if you have symptoms such as itching, rash, or trouble breathing; a lump or swelling in your neck; or severe pain in your stomach area. Serious side effects may include pancreatitis, which can be fatal. Taking trulicity with a sulfonylurea or insulin increases your risk for low blood sugar. Common side effects include nausea, diarrhea, vomiting, decreased appetite and indigestion. Some side effects can lead to dehydration, which may make existing kidney problems worse. With trulicity, i click to activate whats within me. If you want help improving your a1c and blood sugar numbers with a noninsulin option click to activate your within. Ask your doctor about onceweekly trulicity. Im Ashley Webster on floor of New York Stock Exchange with the todays fox Business Tech minute. Spacex hope to relaunch falcon 9 rocket after it exploded in september due to malfunction in the fuel system. Elon musk the launch is december 16 that will carry six satellites into space. Pebble will reprovide a relaunch for products. Pebble is struggling financially and laid off 25 of the brand. It. There is another acquisition in the books. Apple brought a finnish start up company to boost indoor Mapping Services and stay up to speed with google. The value of the deal is unknown. Coming up next on countdown, we take you to the floor show for a check of the markets. [vo] is it a force of nature . Or a sales event . The season of audi sales event is here. Audi will cover your first months lease payment on select models during the season of audi sales event. Liz check this. The Dow Jones Industrial average fighting to snatch the record close that slipped away in the last minutes of trade yesterday right during the show. Here is the number to watch. It needs to edge slightly above 19,152. If you want it exactly, 19,152. 4. Were at 19,172. If we make it will be 18th record close for the index. Nasdaq is tumbling, 81 points. Accelerating in the final hour of trade. This is loss of 1 . You can point to facebook. That is the tech bellwether a downward leader, google microsoft, icy cold across the board on the first trading day of december. Facebook is down nearly 3 . The issue with facebook, canaccord cut the price target. All it took. Now that one is getting hit bad. Energy stocks keeping investors warmer. 33 of 36 stocks in the s p 500 are led higher by explorers and drillers like southwestern energy. Look at the jump with southwestern. It is skyrocketing 6 and 2 3 . Range resources, transocean, cabot oil and gas doing well because of what happened yesterday with opec striking the deal, air quotes. We dont know if it holds up. The market believes it will. Lets bring in the traders on the floor show. Jeff grossman at nymex, it is still holding. Weve seen gains in oil of 14 . You have got to believe that this really put a pillow under the markets today. I always did. Even when we were looking a little bit weak in the mid 40s this market wanted to go higher. This agreement solidifies the up move. I dont think well see new highs from what we reached. We have a triple top here just below 52. I think we may moderate for next couple weeks before a new gamechanger comes into play. Again i think the consensus is that they have a legitimate agreement here and it looks like everyone is coming aboard right now. They have no reason to cut each others throat at the moment. Lets hope that stays that way. Liz you know what . We should mention, by the way, props where props are due, reuters had an incredible exclusive how this opec deal came down. Putin really brokered a lot. The russian leader brokered between the saudis and iranians who both had to put on a show if you believe the reuters piece which i do. Let me get to you, todd at cme. Got pretty solid date, u. S. Manufacturing in november, eyicly that donald trump announces left hundred jobs at carrier are saved. Higher for the ism, manufacturing index. You have to believe the data will continue to improve, right . So us did the stock market continue to follow through . I think right now the stock market is on a tear. It has some real momentum and data were seeing today, liz and data tomorrow will have very little effect on the shortterm trade. Look what is happening here. Were getting numbers last month showing us positive. Everyone is waiting for the big hype move which is going to come from the january effect in and tax holiday were hearing about bringing all dollars to the u. S. Ahead of that move which will come sometime in the First Quarter of next year. A lot of this will stay right where it is. I dont think numbers have an adverse effect on the equity market regardless what happens tomorrow. Liz keith, he said regardless what happens tomorrow. What about what happens this weekend . We do our viewers no good if we dont flag them on things coming up. Sunday italy has a referendum. Matteo renzi, the Prime Minister would like to make economic changes and political changes to cut spending, if it doesnt pass this could affect our markets on monday. Is that a buying opportunity, in retrospect when markets tanked postbrexit that was the time to buy . Well certainly have to see what the markets reaction is. Youre right, if the referendum does not pass in italy, well absolutely see futures get trashed and equity markets will come in substantially on monday. If italy does not pass a referendum. That is the next shoe to drop and the central part of eu bloc is blowing apart, at least the european. Macro front the markets are properly positioned to go ahead and trade higher even though we have had five weaker sessions into the close lately. That is minor blip from overbought markets. Youre right, what is going on in italy this weekend is the thing to watch. Liz why we let people know not at 3 59 p. M. Eastern on friday, but today you guys can get ready to put in, if youre guessing or buy orders, in case the market falls you get things on the cheap. Great to see you guys. Keith, todd, jeff, thanks. My pleasure. Liz donald trump made no secret of the fact that he disdained u. S. Manufacturer that moved jobs overseas. Today he delivered on the campaign are promise to keep Carrier Airconditioning Company from moving jobs to mexico, at least most of them. You have still have unfilled manufacturing jobs here in the u. S. Why . Because the millenial workforce doesnt want to take them. They dont find them sexy. Companies like ge have begun tol workforce. You see the commercials ge puts forth with younger actors as manufacturing as hightech, codebased industry packed with potential and cool. Will it work . Were bringing in eyes and ears of millenials, and ceos trying to attract them. Carolyn, great to have you here. You dont often hear bluecollar and millenial in the same sentence. Why not . This is the leastrepresent ad of a Group Already underrepresented in the conversation around the workforce. Millenials are the largest cohort to ever enter the workforce. Well be 75 of the Global Workforce by 2020. The conversation that were having nationally doesnt really match those numbers. Within that, all of the conversation tends to focus on tech, on new digital businesses, on Silicon Valley and what happens is, these bluecollar millenials and manufacturing jobs millenials are going to need to take fall to the bottom of the list. Liz almost seems to me, maybe im a little biased because you hear Stuart Varney always ripping millenials, millenials seem would take code writing jobs, sleep on a futon in austin or Silicon Valley and take Stock Options and no pay then get a manufacturing job where you get your hands a little dirty. You get health care benefits. Sometimes get 17 to 35 an hour, you have to have skills where the companies will do that. How do you make manufacturing sexy to millenials . This is about employment branding. If you look at numbers, the average manufacturing job earns you 79,000 a year. If you look at that compared to the average across industries, that 79 compared to 64,000. There is significant capital there. It is attractive in of itself. If you look at application of technology to manufacturing jobs, thats there too. Youre seeing Companies Like ge begin to position the attractiveness of these types of jobs virtual reality, through discussing coding, through really advancing robotics. Thats where employers need to be moving. Liz through that millenyall looking kid, telling his parents im taking a job writing code that makes the stuff that uses hammers and his friends are dropping resumes in front of him. You look at millenial job preferences as you said technology at the top, all of these might have some positions open, yet there is a belief, because its december 1st, everybody, that nobody hires in december. It is holidays. Theyre more interested in parties things like that. Fourth quarter one of the worst times to land a job or can you dispel that myth . It will be very interesting first of all to see what happens tomorrow to see what happens over the course of the next month i would absolutely dispel that myth. What we see happen a lot of, inner turmoil and contemplation where i want to be in my career that happens before the holidays. There is a lot of mobility in december and again in january. Liz look it, just by the way, when it comes to manufacturing, total job openings over the next decade or two, there will be two million jobs in manufacturing unfilled because of a skills gap but millenials are fast learners are they not . They need to go to manufacturing. What happens tomorrow we have the november jobs report out of labor department. Do you expect to see a bigger than expected build, and how does that break down what you look at . We are expecting to see nearly double the amount of jobs added than we expected for november. So im really hopeful that is what we have in store for tomorrow morning. Liz what would be driving that . It will continue to be a rise in jobs in technology and a lot of trends weve seen come throughout the year. And, what i love about it is that it really positions us for a strong 2017 and some of these optimistic currents around future of workforce and future of millenials. Liz i hope youre right about tomorrow. You know you how our viewers can find out . Watch Maria Bartiromo tomorrow and her show because 8 30 a. M. Eastern is when the november jobs report comes out. Great to see you carolyn. Thank you for having me. Liz Caroline Ghosn from levo. Steve mnuchin out with a promise to privatize fran fannie mae and freddie mac who have gotten in the past this country into real debt trouble. Could that lead to the demise of the mortgage giants and work in reverse . What does that mean for the broader markets . Charlie gasparino has been working this all day and has the answers from the secretary of the treasury and his big plans when we come back. See me. See me. Dont stare at me. See me. See me. See me to know that psoriasis is just something that i have. Im not contagious. See me to know that. I wont stop until i find what works. Discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. Proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75 skin clearance at 3 months. While the majority saw 90 clearance. Do not use if you are allergic to cosentyx. Before starting, you should be tested for tuberculosis. 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By the way, Christie Brinkley, who i think is awesome at New York Stock Exchange. She is hot. Liz santa is there too. Sorry, santa. How old is she . She is 60 and still hot. Liz well, justine sky is not 60. No. Liz justine as charlie and i were looking was born in 1995. That hurts, hurts to see that. You were 50 in 95. I was two. Liz 15. Why charlie is here. Thanks. Justine, thanks, justine. So low rent at nyse. Why couldnt they get rihanna . Sprecher is so cheap. In duncan or grasso they would liz billy joel. Beyonce. This girl seems nice but liz she is upandcoming. I think sprecher is cheap. This is new york, jeff. Liz Donald Trumps choice for treasury secretary, Steve Mnuchin making bold promises. Here is one of them. We got to get fannie and freddie out of government ownership. It makes no sense these are owned by the government and been controlled i about the government for as long as they have, in many cases this displaces private lending in the Mortgage Markets and we need these entities that will be safe. Liz but as you know from physics for every action there is equal and opposite reaction. What could be the reaction to Steve Mnuchins idea to privatize fannie and freddie, charlie . What was the reaction, the stock went up dramatically. It has been up dramatically, the stock of fannie and freddie since donald trump became president , on somehow notion that it will be privatized and that will be good for shareholders. Explain fannie and freddie are. They were privately owned companies backed up and created by congress to create homeownership. Liz to lend and create mortgages. Essentially what they did was bought and packaged the mortgages, guaranteed the mortgages and sold them to third parties. The theory is a bank will more likely issue a 30year mortgage that if it has guarranty the mortgage will be paid back, and that is why there are 30 year mortgages. People think that is a social good. Guess what they did . Blew up in 2007 and 2008. Liz sure did. They were taken over by the government. They have been in conservatorship since. There is big bet on wall street that the government will privatize them, give them back all their profits. Here is where this thing gets really right now the government is essentially taking their profits. Theyre profitable now, believe it or not, very profitable because of low Interest Rates and selling mortgages and making the spread on that difference but heres the rub. If they become private, will they maintain the government backup . Government backs up their debt when they do things, they sell debt. They finance themselves. The government provides that backup of the if they dont provide the backup, their financing costs will go through the roof. Here is what i say to you the small investor, if youre out there buying this stock right you now you have to really have to believe they will be privatized and essentially will go back to the old way of business. That led to the blowup. That, number un, they will be private companies with private shareholders and maintain the government backup. That the government will still guarranty everything. Allow them to borrow at government rates because they have that backup. That is for conservative congress liz look at the spike. But, liz liz bounced around for a year, didnt guys like ackman, the billionaire, get in. A lot of people think ackman, more than likely carl icahn and john paulson who are republicans, particularly carl who has donalds ear he will whisper in donalds ear, make them private but keep the government guarranty because you know, its really good. Around it is obviously really good for carl because the stock will go you there roof if that is the case. Liz there comes the question, coi, conflict of interest. That too. Here is what i have to say, you have to believe for that scenario that a republican congress, free market guys like Jeb Hensarling are going to say yes to that. They will say lets go back to 2008. I think the most likely scenario . Just this is my opinion. We should have josh rosner on who is expert at this stuff, he is an analyst, i have to say, i think they keep it way it is, keep all their money inhouse, the sweep as it is known, profits in house to pay for donalds infrastructure stuff. He needs money. Joshas a different view. We should get josh on next week, because josh, this is a stock moving every day. I mean thats where this is right you no. It is a very interesting story but i think people are missing it. Liz not now because of you. Charlie, thank you very much. Weve got a record, folks, right now. We need it to hold for next five 1 2 minutes. Dow jones industrials could close at the 18th lifetime record of this year alone, up 66 points. Coming up well try to make you money in the last five minutes. Dont go away. Liz do you may be at a record. Wait to see that for a couple minutes. Bonds moving total opposite direction. We have selloff today pushed benchmark 10year treasury deal highest level nearly yearandahalf. Guess what though . Different kind of bond could make you money, as donald trump appears to push for a big infrastructure bill. Let me bring in a man who knows all about this, jim keegan, psychs Investment Advisors chief investment officer. Ake money if that comes to pass . Well with regard to the infrastructure. If an infrastructure plan goes through, if it is big you can make money in Companies Like nucor steel. Aggregators like Vulcan Materials and Martin Marietta materials. Deere, caterpillar, that provide the equipment but the devil is in the details. We dont have the details yet at this point. Liz do you buy the stock outright or pair it with Corporate Bonds of these companies . It will be a function of valuations. If the valuations are there on the equity side, absolutely. Liz some are rich with the rest of the market, well beyond the 10year average. Thats the issue. Everything has value at the right price. Liz guess what you get to witness . You witness a record for the markets. Are you buying here . We have a record for the Dow Jones Industrials. It is 18th lifetime record, quickly . Are we buying here . I think youre buying high valuations. Returns over time will probably be not that great. [closing bell rings] liz great to see you. Great to see Christie Brinkley ringing bell at nyse. We have record for Dow Jones Industrials. Connell, melissa, it is yours. Historic high for Dow Jones Industrial average here. I was starting to think it was me filling in for david. We get it today. Dow hangs on to gains at the close. Trump bum or trump rally is rolling right along for the bluechips. Connell im Connell Mcshane in for david asman. Melissa thats right. Im Melissa Francis for after the bell
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