Transcripts For FBC Making Money With Charles Payne 20240713

That and so much more on making money. Charles right now tariffs are due to hit china, next month, december 15th. Looks like it will not happen. I want to go to Edward Lawrence live in washington with more. Edward if. Reporter the big news, charles, the big headline, the chinese expect no new tariffs to be added. They do expect the current tariffs to be rolled back on items proportionally by both sides if phase one deal can be reached. This is according to the Chinese Commerce ministry. Now, u. S. Source within the Trump Administration confirms this report is generally accurate going forward. Also the chinese trade forces told by the u. S. That the december 15th tariffs will not be added. A u. S. Trade source says if there is a phase one trade deal finalized. That would likely be the case. The tariffs are at the heart of what chinese want removed in any deal. A Commerce Ministry spokesperson in china says the trade dispute started with tariffs. He adds this, quote, if two sides can reach a phase one agreement based on the deal, the already imposed tariffs should be canceled proportionally. This is an important condition for reaching an agreement. It is all very positive news coming from both sides. Officially there, from the Chinese Commerce ministry on the u. S. Side. Were hearing it through sources. Again though, that word if. Sources on both sides say that the idea of a trade deal being pushed into december. Is not part of the talks at this point. The trade team still using apec time frame having a deal on paper by late next week as they work forward. Charles, i can also say the chinese today, the department of agriculture announced chinese businesses bought a significant amount of soybeans again today. 136,000 metric tons. That is another Large Purchase that they have made. So they seem to be following through with some of this agriculture buy and the goodwill on their side. Theyre expecting this to sort of move to the conclusion, at least finalizing phase one on paper. Well see if that happens late next week. Charles edward, thank you very much. Appreciate it. The markets are on fire because of this news. Mix in strong earnings, folks, were seeing all of this add fuel to the rally of the question now for many, how long can it last . For that i would like to bring in hal lambert, point bridge capital, david dietze, point view wealth management. Hal, i will start with you. I find it interesting, tariffs december 15th, laptops, smartphones, clothing if you dig into it, Auto Components are up 2 . Leisure products up over 1 . Textile, luxury goods apparel, up 1. 6 . There is direct correlation this mornings news and rally were seeing today. Right. Look what happened to talk of a recession, right . That has gone away. Were seeing 75 of the s p 500 Companies Reported are beating. Theyre beating on earnings and 60 are beating on revenues. Youre seeing expectation that was under and youre seeing companies doing better than they thought they were going to do. To the trade tariffs, what happened to all the smart people saying tariffs dont work . Theyre clearly started to work. China has just the right amount of pressure put on them by the Trump Administration. This is really smart what President Trump is doing. He realizes this is the point to take pressure off. Get a first deal here. No reason to let china go into full meltdown going into 2020. He has an election coming up. He needs market up. Wants the economy strong. There is no reason to keep the foot on the gas against china. He can wait until after 2020. Neil the goal was not to hurt chinas economy per se. It was to bring them to the table. Youre right, hal. All the naysayers will be naysayers forever. They will diss whatever agreement is made. David, were at record highs on the stock market. Wages are soaring in america. Jobs are soaring in america. Homeownership is soaring in america. And all as these tariffs have gone higher, higher. They coexisted. We were told yearandahalf ago, it could not happen. Could it be anticlimactic taken off the table . Absolutely. The old saw, buy on rumor, sell on the news. We have gotten great news on jobs front. October jobs report, earnings coming in much better than expected. Federal reserve is on because with their believe the economy is stable. People are buying on anticipation of tariffs removed. When that news is announced, there, could be what else is there to go . We could see a spuleback in in e market. Charles on that note, guys. Here is dilemma. Im asking all the market guests this week, how does someone participate in the rally going forward, hal. Do you chase winners or sort of fish around with the losers knowing that these stocks havent participated for reasons, perhaps, bad numbers or whatever . There is a reason theyre not up. Which is the way that you would actually go after this . If youre watching this saying i want a piece of the action . Well a couple things. I think you could go. Small cap value is interesting place to go. It underperformed overall markets. Charles what is one stock, give me a name. I will give you a large cap name. I go with Goldman Sachs right here. Goldman sachs is up 30 yeartodate plus, but negative yearoveryear. Negative year on year basis. If we get a deal with china, one of the things trump said, well have financials working in china. He is talking about banks opening in china. You have to figure some of our largest banks, including Goldman Sachs will benefit from that. Charles i love the idea. Full disclosure. I think the stock is down. Huge volume. It is up 5 . A lot of people are buying that name. David, how do you play the market . Youve been watching, watching, ready to go. Do you chase winners. You know what, let me trust avon on weakness . Not sure avon. Tale of two markets. Other guest pointed out, smaller companies, value stocks, cyclical stocks lagged. I would be rolling up sleeves. Charles particularly they have lagged, new won any, institutional money will look for opportunities . Absolutely true. Megatech stocks did very, very well. People said there will be no growth. There will be recession. Go with the secular growers. Interest rate surrogates. Now economy is picking up. I think they go with the cyclicals. Like energy space. Nowhere this year, comparisons are much easier. Charles any particular names . Big space the energy space. I would go with the biggest blue chip the area. Schlumberger down by half from the 52week high. Youre paid 5 to get the area get better. Charles i like the Permian Basin names are reacting because they have been slaughtered. Elizabeth warren is pitching her medicare for all plan and it might not work out. According to data from news whip provided by axe sy owes, 70 of the most engaging articles on social media are about warrens plan in the last two weeks however they were negative. Hillary clinton says warrens plan would never get enacted. Foundation for research of equal opportunity president. You studied this for a long time. One thing though, you do agree the Health Care System is broken. You do agree with Elizabeth Warren in that area . Oh, yeah. Elizabeth warren is right, a lot of people cant afford their Health Insurance. Not just 29 Million People uninsured. It is 100 million more who have insurance but premiums are going up. Deductibles tripled in the last 10 years. People are a lot more exposed to Rising Health care costs than they used to be. Charles what do you make of this battle in the Democratic Party about a month ago, medicare for all, everyone raises their hands, we back it, all of sudden price tag of 52 trillion, theyre running away from it . What would their solution be, what in your mind should it be . In the president ial race, the big dynamic this time around, in 2020, superdelegates, democrats dont get to vote on the ballot in the first ballot. Candidate have to appeal to the base. The base want singlepayer. The base wants medicare for all. More centerleft, joe biden, buttigieg theyre baiting warren to put the plan on the table. Charles you dont think she is committing political suicide . I think she is in the general election. Charles farce getting the nomination . Well have to see. In the National Polls she sunk a little bit as Biden Buttigieg attacked her for the tax hikes. The base really loves medicare for all. It remains to be seen who will win the fight. Is this indictment also though on obamacare . Essentially she is saying, hey, the Health Insurance companies wrote obamacare and they cannot be a part of the process in the future . The warren plan is a way of basically repealing and replacing obamacare with singlepayer health care. It in a sense youre right, it is indictment. If biden or buttigieg is nominee, doesnt support for health care for all, republicans say medicare for all, it is socialism. Easy to run again. Incremental control that biden and buttigieg attacking Health Care Costs are appealing. Republicans have not settled that. They need an answer for voters how to reduce cost of health care in america. Charles what would you suggest would be a more free markets approach but by the same token could be sold to the American Public which, i do believe, thinks the system is not fair . Listen, no one likes copays, or premiums. Everyone complains about deductions. A lot of people lost their doctors under obamacare. Charles at our think tank, foundation for research opportunity, we put out a plan called Affordable Health care for every generation is about the exact problem. How to attack high cost of hospital care through competition and antitrust. High cost of drugs aligned with what the Trump Administration is doing. Regulatory reforms to make Health Insurance more affordable, not just people with preexisting conditions but healthy people. Charles how exactly does that work . It sounds great in broad strokes. So did medicare for all until everyone found out it would cost 50 trillion. This would reduce federal spending and reduce taxes. The reason health care is so expensive, because of 75 years of policy mistakes. We take the dollars out of patients hands give it to third, fourth, fifth parties to spend it on your half. When consumers make choices, costs will go down because people compete for their business. Charles before i let you go, the if federal government would have bigger role . Smaller role. Charles would they negotiate prices . Use purchasing power to negotiate lower drug price . They would use negotiating power to increase competition. More generic drugs on the market. To expand the roll of competition, reduce prices. Been a while. Thank you very much. Charles Elizabeth Warren not only going after our Health Care System but american success. First it was jamie dimon. Guess what . It is bill gates. Later in the show, two former twitter employees are charged with spying on users for saudi arabia. Are these Big Tech Companies doing enough to protect americans data . Well be right back. When you rent from national. Its kind of like playing your own version of best ball. Because here, you can choose any car in the aisle, even if its a better car class than the one you reserved. So no matter what, youre guaranteed to have a perfect drive. [laughter] vo go national. Go like a pro. See what i did there . Charles Elizabeth Warren went toetotoe with jamie dimon. Now Elizabeth Warren has a beef with ultrabillionaire with bill gates on worries about her health tax. As a New York Times forum he said i have to pay 20 billion, thats fine. When you say i have to pay 100 billion, i have to do a little math what i have left over. Im not sure how openminded she is is. Or she would sit down with somebody with large amounts of money. Warren responded. Im happy to meet with people even if they have different views, if we get the chance i would love to explain exactly how much you would pay under my wealth tax. I promise it is not 100 billion. Joining me with analysis, Young Americans for liberty, emma michelle. Elizabeth warren until maybe, the last week or so was a juggernaut. She has been a juggernaut. She probably will still be very, very much with particularly young voters in part because she is taking on these billionaires. I mean there is a group of americans who want her to go after the bill gates of this country. Absolutely. She is going after billionaires and capitalists because that is popular to do on the far left. These things play well in a primary, they play well with young people but that will be a poison pill when we get to the general election. Most americans, working class americans, swing voters, independents know capitalism works in this country. That is what is going to make this difficult for her to win the nomination. She will have to win them over. Charles youre the second guest in a row talked about the general election, assuming maybe she does have a shot being the democratic nominee. I want to show the audience, a harvard poll came out she is rising big time to the top. At 22 . This is for americans 18 to 29 years old. Again, there it is. Sanders still has the lead but she is coming on very, very strong. What is it . What is it about 18 to 29yearold group that has so much animosity about the success of their country . Is it a guilt trip . Or is it Something Else . Yeah a lot of them have cronyism confused with capitalism. They hear about the special carveouts for big corporations. Things that really not a part of freemarket capitalism. Theyre blaming free markets for those issues. They do have problems with corruption. They dont understand socialism, increasing the size and scope of the government will make way for more of that corruption. That is the big issue. That is mental disconnect f we message social him will only enable corrupt people i think they would totally reject it. Charles what about messaging to big business . Give you an example. Just today Elizabeth Warren put out a tweet regarding steve easterbrook, former ceo of mcdonalds. Left with a big scandal but left with a pretty nice severance package you can see it there. Millions of mcdonalds workers living paycheck to paycheck. Their fired ceo leaves millions of dollars in his pocket. Economy working great for a thinner, thinner slice at the top. Does your group articulate, also help her appeal this, enthusiasm that is growing for socialism . There is some things that businesses can do here and a lot to really get involved in fill lan throwpy, building community. That is good thing they can do to really reach young people. What we talk about with young people the fact that capitalism actually helps everyone involved with it, not just people at very top. A common thing, we saw ilhan omar tweeting about walmart, how much the ceo makes. She didnt leave in a walmart general manager makes almost 100,000 per year. Their supply chain managers, their middle Management Employees who make very good money for each individual branch of walmart. It is not just cashiers with one ceo. There are a lot of different pay scale systems at play. It is important to remember, there are people working their way up through the system, that you fine success. When you demonize the ceo, youre taking away a companys ability to provide prosperity to the people. Charles i have seen particularly in alabama where walmarts risen, people lined up for miles for those jobs. Many of them to your point are doing very well. Yeah. Charles thank you very much. A lot of wisdom for Young Americans. Appreciate it. Cbs reportedly fired an employee who was behind the leak of a abc tape story that was squashed about jeffrey epstein. Research funded by you taxpayer. We have details on both these cases next. Trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no commission its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. Car vending machines and buying a car 100 online. Vented now weve created a brand new way for you to sell your car. Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. Keep going, keep going. [maniacal laughter] gold right, uh. Thank you, for that, bob. But i think its time we go with gbtc. Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. Charles cbs news reportedly fired a staffer who leaked audio from a coworker abc amy robach slamming the network for not airing interview about jeffrey epstein. We reached out to cbs for comment on the story. They have not commented yet. Here is fox news senior judicial analyst, judge andrew napolitano. This story is incendiary. People are up in arms for a variety of reasons, in part maybe a monster was allowed to continue to victimize people because a story was squelched. That is the not the first time. The story was squelched by a major Edward Lawrence<\/a> live in washington with more. Edward if. Reporter the big news, charles, the big headline, the chinese expect no new tariffs to be added. They do expect the current tariffs to be rolled back on items proportionally by both sides if phase one deal can be reached. This is according to the Chinese Commerce<\/a> ministry. Now, u. S. Source within the Trump Administration<\/a> confirms this report is generally accurate going forward. Also the chinese trade forces told by the u. S. That the december 15th tariffs will not be added. A u. S. Trade source says if there is a phase one trade deal finalized. That would likely be the case. The tariffs are at the heart of what chinese want removed in any deal. A Commerce Ministry<\/a> spokesperson in china says the trade dispute started with tariffs. He adds this, quote, if two sides can reach a phase one agreement based on the deal, the already imposed tariffs should be canceled proportionally. This is an important condition for reaching an agreement. It is all very positive news coming from both sides. Officially there, from the Chinese Commerce<\/a> ministry on the u. S. Side. Were hearing it through sources. Again though, that word if. Sources on both sides say that the idea of a trade deal being pushed into december. Is not part of the talks at this point. The trade team still using apec time frame having a deal on paper by late next week as they work forward. Charles, i can also say the chinese today, the department of agriculture announced chinese businesses bought a significant amount of soybeans again today. 136,000 metric tons. That is another Large Purchase<\/a> that they have made. So they seem to be following through with some of this agriculture buy and the goodwill on their side. Theyre expecting this to sort of move to the conclusion, at least finalizing phase one on paper. Well see if that happens late next week. Charles edward, thank you very much. Appreciate it. The markets are on fire because of this news. Mix in strong earnings, folks, were seeing all of this add fuel to the rally of the question now for many, how long can it last . For that i would like to bring in hal lambert, point bridge capital, david dietze, point view wealth management. Hal, i will start with you. I find it interesting, tariffs december 15th, laptops, smartphones, clothing if you dig into it, Auto Components<\/a> are up 2 . Leisure products up over 1 . Textile, luxury goods apparel, up 1. 6 . There is direct correlation this mornings news and rally were seeing today. Right. Look what happened to talk of a recession, right . That has gone away. Were seeing 75 of the s p 500 Companies Reported<\/a> are beating. Theyre beating on earnings and 60 are beating on revenues. Youre seeing expectation that was under and youre seeing companies doing better than they thought they were going to do. To the trade tariffs, what happened to all the smart people saying tariffs dont work . Theyre clearly started to work. China has just the right amount of pressure put on them by the Trump Administration<\/a>. This is really smart what President Trump<\/a> is doing. He realizes this is the point to take pressure off. Get a first deal here. No reason to let china go into full meltdown going into 2020. He has an election coming up. He needs market up. Wants the economy strong. There is no reason to keep the foot on the gas against china. He can wait until after 2020. Neil the goal was not to hurt chinas economy per se. It was to bring them to the table. Youre right, hal. All the naysayers will be naysayers forever. They will diss whatever agreement is made. David, were at record highs on the stock market. Wages are soaring in america. Jobs are soaring in america. Homeownership is soaring in america. And all as these tariffs have gone higher, higher. They coexisted. We were told yearandahalf ago, it could not happen. Could it be anticlimactic taken off the table . Absolutely. The old saw, buy on rumor, sell on the news. We have gotten great news on jobs front. October jobs report, earnings coming in much better than expected. Federal reserve is on because with their believe the economy is stable. People are buying on anticipation of tariffs removed. When that news is announced, there, could be what else is there to go . We could see a spuleback in in e market. Charles on that note, guys. Here is dilemma. Im asking all the market guests this week, how does someone participate in the rally going forward, hal. Do you chase winners or sort of fish around with the losers knowing that these stocks havent participated for reasons, perhaps, bad numbers or whatever . There is a reason theyre not up. Which is the way that you would actually go after this . If youre watching this saying i want a piece of the action . Well a couple things. I think you could go. Small cap value is interesting place to go. It underperformed overall markets. Charles what is one stock, give me a name. I will give you a large cap name. I go with Goldman Sachs<\/a> right here. Goldman sachs is up 30 yeartodate plus, but negative yearoveryear. Negative year on year basis. If we get a deal with china, one of the things trump said, well have financials working in china. He is talking about banks opening in china. You have to figure some of our largest banks, including Goldman Sachs<\/a> will benefit from that. Charles i love the idea. Full disclosure. I think the stock is down. Huge volume. It is up 5 . A lot of people are buying that name. David, how do you play the market . Youve been watching, watching, ready to go. Do you chase winners. You know what, let me trust avon on weakness . Not sure avon. Tale of two markets. Other guest pointed out, smaller companies, value stocks, cyclical stocks lagged. I would be rolling up sleeves. Charles particularly they have lagged, new won any, institutional money will look for opportunities . Absolutely true. Megatech stocks did very, very well. People said there will be no growth. There will be recession. Go with the secular growers. Interest rate surrogates. Now economy is picking up. I think they go with the cyclicals. Like energy space. Nowhere this year, comparisons are much easier. Charles any particular names . Big space the energy space. I would go with the biggest blue chip the area. Schlumberger down by half from the 52week high. Youre paid 5 to get the area get better. Charles i like the Permian Basin<\/a> names are reacting because they have been slaughtered. Elizabeth warren is pitching her medicare for all plan and it might not work out. According to data from news whip provided by axe sy owes, 70 of the most engaging articles on social media are about warrens plan in the last two weeks however they were negative. Hillary clinton says warrens plan would never get enacted. Foundation for research of equal opportunity president. You studied this for a long time. One thing though, you do agree the Health Care System<\/a> is broken. You do agree with Elizabeth Warren<\/a> in that area . Oh, yeah. Elizabeth warren is right, a lot of people cant afford their Health Insurance<\/a>. Not just 29 Million People<\/a> uninsured. It is 100 million more who have insurance but premiums are going up. Deductibles tripled in the last 10 years. People are a lot more exposed to Rising Health<\/a> care costs than they used to be. Charles what do you make of this battle in the Democratic Party<\/a> about a month ago, medicare for all, everyone raises their hands, we back it, all of sudden price tag of 52 trillion, theyre running away from it . What would their solution be, what in your mind should it be . In the president ial race, the big dynamic this time around, in 2020, superdelegates, democrats dont get to vote on the ballot in the first ballot. Candidate have to appeal to the base. The base want singlepayer. The base wants medicare for all. More centerleft, joe biden, buttigieg theyre baiting warren to put the plan on the table. Charles you dont think she is committing political suicide . I think she is in the general election. Charles farce getting the nomination . Well have to see. In the National Polls<\/a> she sunk a little bit as Biden Buttigieg<\/a> attacked her for the tax hikes. The base really loves medicare for all. It remains to be seen who will win the fight. Is this indictment also though on obamacare . Essentially she is saying, hey, the Health Insurance<\/a> companies wrote obamacare and they cannot be a part of the process in the future . The warren plan is a way of basically repealing and replacing obamacare with singlepayer health care. It in a sense youre right, it is indictment. If biden or buttigieg is nominee, doesnt support for health care for all, republicans say medicare for all, it is socialism. Easy to run again. Incremental control that biden and buttigieg attacking Health Care Costs<\/a> are appealing. Republicans have not settled that. They need an answer for voters how to reduce cost of health care in america. Charles what would you suggest would be a more free markets approach but by the same token could be sold to the American Public<\/a> which, i do believe, thinks the system is not fair . Listen, no one likes copays, or premiums. Everyone complains about deductions. A lot of people lost their doctors under obamacare. Charles at our think tank, foundation for research opportunity, we put out a plan called Affordable Health<\/a> care for every generation is about the exact problem. How to attack high cost of hospital care through competition and antitrust. High cost of drugs aligned with what the Trump Administration<\/a> is doing. Regulatory reforms to make Health Insurance<\/a> more affordable, not just people with preexisting conditions but healthy people. Charles how exactly does that work . It sounds great in broad strokes. So did medicare for all until everyone found out it would cost 50 trillion. This would reduce federal spending and reduce taxes. The reason health care is so expensive, because of 75 years of policy mistakes. We take the dollars out of patients hands give it to third, fourth, fifth parties to spend it on your half. When consumers make choices, costs will go down because people compete for their business. Charles before i let you go, the if federal government would have bigger role . Smaller role. Charles would they negotiate prices . Use purchasing power to negotiate lower drug price . They would use negotiating power to increase competition. More generic drugs on the market. To expand the roll of competition, reduce prices. Been a while. Thank you very much. Charles Elizabeth Warren<\/a> not only going after our Health Care System<\/a> but american success. First it was jamie dimon. Guess what . It is bill gates. Later in the show, two former twitter employees are charged with spying on users for saudi arabia. Are these Big Tech Companies<\/a> doing enough to protect americans data . Well be right back. When you rent from national. Its kind of like playing your own version of best ball. Because here, you can choose any car in the aisle, even if its a better car class than the one you reserved. So no matter what, youre guaranteed to have a perfect drive. [laughter] vo go national. Go like a pro. See what i did there . Charles Elizabeth Warren<\/a> went toetotoe with jamie dimon. Now Elizabeth Warren<\/a> has a beef with ultrabillionaire with bill gates on worries about her health tax. As a New York Times<\/a> forum he said i have to pay 20 billion, thats fine. When you say i have to pay 100 billion, i have to do a little math what i have left over. Im not sure how openminded she is is. Or she would sit down with somebody with large amounts of money. Warren responded. Im happy to meet with people even if they have different views, if we get the chance i would love to explain exactly how much you would pay under my wealth tax. I promise it is not 100 billion. Joining me with analysis, Young Americans<\/a> for liberty, emma michelle. Elizabeth warren until maybe, the last week or so was a juggernaut. She has been a juggernaut. She probably will still be very, very much with particularly young voters in part because she is taking on these billionaires. I mean there is a group of americans who want her to go after the bill gates of this country. Absolutely. She is going after billionaires and capitalists because that is popular to do on the far left. These things play well in a primary, they play well with young people but that will be a poison pill when we get to the general election. Most americans, working class americans, swing voters, independents know capitalism works in this country. That is what is going to make this difficult for her to win the nomination. She will have to win them over. Charles youre the second guest in a row talked about the general election, assuming maybe she does have a shot being the democratic nominee. I want to show the audience, a harvard poll came out she is rising big time to the top. At 22 . This is for americans 18 to 29 years old. Again, there it is. Sanders still has the lead but she is coming on very, very strong. What is it . What is it about 18 to 29yearold group that has so much animosity about the success of their country . Is it a guilt trip . Or is it Something Else<\/a> . Yeah a lot of them have cronyism confused with capitalism. They hear about the special carveouts for big corporations. Things that really not a part of freemarket capitalism. Theyre blaming free markets for those issues. They do have problems with corruption. They dont understand socialism, increasing the size and scope of the government will make way for more of that corruption. That is the big issue. That is mental disconnect f we message social him will only enable corrupt people i think they would totally reject it. Charles what about messaging to big business . Give you an example. Just today Elizabeth Warren<\/a> put out a tweet regarding steve easterbrook, former ceo of mcdonalds. Left with a big scandal but left with a pretty nice severance package you can see it there. Millions of mcdonalds workers living paycheck to paycheck. Their fired ceo leaves millions of dollars in his pocket. Economy working great for a thinner, thinner slice at the top. Does your group articulate, also help her appeal this, enthusiasm that is growing for socialism . There is some things that businesses can do here and a lot to really get involved in fill lan throwpy, building community. That is good thing they can do to really reach young people. What we talk about with young people the fact that capitalism actually helps everyone involved with it, not just people at very top. A common thing, we saw ilhan omar tweeting about walmart, how much the ceo makes. She didnt leave in a walmart general manager makes almost 100,000 per year. Their supply chain managers, their middle Management Employees<\/a> who make very good money for each individual branch of walmart. It is not just cashiers with one ceo. There are a lot of different pay scale systems at play. It is important to remember, there are people working their way up through the system, that you fine success. When you demonize the ceo, youre taking away a companys ability to provide prosperity to the people. Charles i have seen particularly in alabama where walmarts risen, people lined up for miles for those jobs. Many of them to your point are doing very well. Yeah. Charles thank you very much. A lot of wisdom for Young Americans<\/a>. Appreciate it. Cbs reportedly fired an employee who was behind the leak of a abc tape story that was squashed about jeffrey epstein. Research funded by you taxpayer. We have details on both these cases next. Trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no commission its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System<\/a> that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. Car vending machines and buying a car 100 online. Vented now weve created a brand new way for you to sell your car. Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. Keep going, keep going. [maniacal laughter] gold right, uh. Thank you, for that, bob. But i think its time we go with gbtc. Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. Charles cbs news reportedly fired a staffer who leaked audio from a coworker abc amy robach slamming the network for not airing interview about jeffrey epstein. We reached out to cbs for comment on the story. They have not commented yet. Here is fox news senior judicial analyst, judge andrew napolitano. This story is incendiary. People are up in arms for a variety of reasons, in part maybe a monster was allowed to continue to victimize people because a story was squelched. That is the not the first time. The story was squelched by a major News Organization<\/a> which reaches into every home in the united states. The head scratcher is why somebody from another network was fired for revealing it. The only thing i can think of charles the person might have worked at abc at the time. Now works with cbs. Now for whatever reason cb fired the person. Why would cbs fired her unless it violated some internal cbs regulation . If you get a hot potato what ad versari network failed to do, and there is tremendous Public Interest<\/a> in it, arguably tremendous harm caused, because they should have done im describing the case to a t, do you sit on or expose your bosses to the world . Im i dont know the cbs regulations. The person fired perform ad positive Public Service<\/a> by revealing this we now know cbs would sit on something of this magnitude. Charles abc sat on this one. Im sorry, abc correct. Abc would sit on something of this magnitude, which was buttoned down. Meaning which had its sources in order. This wasnt speculation. This was hard news reporting that they had verified. Charles you couple this with of course ronan farrow promoting his new book. Right. Charles allegations there are again, just shocking, shocking. It feels like there was this power, this wall of elite powerful people protecting this predator . Yes. And now of course, you hear dr. Bauden whom we all know, saying that the injuries to his neck are far more consistent with homicide than suicide. Two video cameras were not working. Two guards were asleep. The cellmate mysteriously removed the day before. There is more here than meets the eye. Charles maybe more and more will keep coming out. I do want to ask you about a story, interesting story, the Trump Administration<\/a> suing drugmaker Gilead Science<\/a> infringing on two hiv patents. The federal government lawsuit says gilead. The company was invented and patented by centers for Disease Control<\/a>. Im not sure how gilead would have gotten control of this . This also is a headscratcher. If you read the complaint, which i read for you, all 86 pages of it, basically it says the patent was given by the Patent Office<\/a> to the centers for Disease Control<\/a> in 2015. These patents last for 17 and 34 years. Gilead says the government never validly got the patent. A jury will decide. Meantime this is effective drug that taxpayers funded 50 million in research to produce. Gilead made hundreds of millions of dollars in revenue selling it each year. Charles make a lot of money big time profit. Well watch this for you. Cases of this magnitude are often settled with a check rather than going to a jury. Charles its a shame a lot of Drug Companies<\/a> have more lawyers than scientists these days. You sound like varney. [laughter] charles thank you very much. Youre welcome. Charles Bernie Sanders<\/a> is trying to outdo Elizabeth Warren<\/a> with his new immigration plan, including moratorium on deportations which would be easy because he does away with i. C. E. And border patrol. Does this have any traction in the Democratic Party<\/a> . Speaking of which Kamala Harris<\/a> is out with her plan too. Her idea to extend the school day by three hours. The Political Panel<\/a> puts both of them to the test next. I wanted more thats why ive got the power of 1 2 3 medicines with trelegy. The only fdaapproved 3in1 copd treatment. Trelegy. The power of 123. Trelegy 123 trelegy. With trelegy and the power of 1 2 3, im breathing better. Trelegy works 3 ways to open airways, keep them open and reduce inflammation for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure<\/a> before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1 2 3. Trelegy 123 save at trelegy. Com charles breaking right at this moment jump is ending the sale of e mint ecigarette pods. The company citing a survey, more than five million children admitted using ecigarettes preferring juuls mint flavored. They are considering a ban on those flavors to crack down on you know age abuse. Elizabeth warren famously has a plan just about everything, now so does bernie saying two can play that game. He came out with a comprehensive immigration plan that covers just about everything. Will accept 50,000 migrants displaced because of climate change. Give immigrants medicare for all. Moratorium on deportations, ending construction of the border wall. Dreamers will have legal status. Here is the kicker, decriminalize illegal Border Crossing<\/a>s. This exposes how deep the idealogical divide is in the Democratic Party<\/a>. From ferc first action, kelly sadler, and democratic strategist kemba walling. I guess i shouldnt be surprised but this is a pretty tough plan. He really is, sort of just making this a country of, wide open country saying come on in . Basically decriminalizing illegal Border Crossing<\/a>. A nation is defined by its borders and Bernie Sanders<\/a> doesnt want our nation to have any borders. Coming from the president s pac, supporting his reelection effort i would encourage Elizabeth Warren<\/a>, joe biden, mayor pete, Kamala Harris<\/a> to embrace an endorse this Bernie Sanders<\/a> plan. Please get behind it. Give it your backing because, it is a guaranteed loser at the voting box. Charles maybe sanders looked at Elizabeth Warren<\/a>s medicare for all said, hold my beer. Let me get in the mix too. Yeah, charles. Ive been on your show so many times. Im a fairly pragmatic guy when it comes to politics and democrat. I reject the extremes put forward by senator sanders in this plan. But i also reject extremes put forward by this president. The last week marked 5,000, child separated from their parents. Many of whom will never be reunited with their parents again when they crossed this border. So the harmful policies put forward by this president are not a solution. And i think there is a lot to reject with what Bernie Sanders<\/a> has put forward in his plan. Charles but if you take, take kevin, warren and sanders combined, theyre about 40 right now. Certainly plurality. There is something of, there is some weight there. Seems like the democratic platform no matter who wins will have incorporate a lot of things youre acknowledging are outlandish . Yeah. All depends, charles, who the nominee is. Im a joe biden guy. Were kind of more middle of the road in our policies. Listen, the president failed us when it comes time my graduation i would say in this country. Over a Million People<\/a> come across our border just this past year. That is 90 increase from last year of just over half a million. So the, problems with immigration are laid at the feet of this president. His rhetoric isnt working. His stealing of funds from the military to build this wall that now cut through with chainsaws is not working either. Charles kelly, it is interesting the same folks who said there was no risk of an onslaught and didnt prepare us for onslaught are now blaming President Trump<\/a> for not being prepared for the onslaught. Listen the president has tried to fix this broken immigration system. He is trying to do it through executive order because Congress Just<\/a> will not act on this issue. They wont do anything. They wont pass usmca. They wont fix our border crisis. The president , went to mexico, struck a deal with them. We have seen the Border Crossing<\/a> numbers drop but it is still a huge problem. He is proposed a meritbased immigration system much like what canada and new zealand have. Japan has that as well, to bring in the best and brightest. That can contribute to our society. Which has been just rejected out of just by the democrats without even any contemplation or negotiation. Charles quickly bring up one more plan with you guys and this is from Kamala Harris<\/a>. She wants to lengthen the school day by three hours, from 3 00 p. M. To 6 00 p. M. This will align parent with their schedules. A lot of working parents, a lot of single parents. Kelly, im not sure how you view this. I do know it issue for a lot of young families and single parents. It is an interesting idea. I have three young boys and im a fulltime working mom. At the same time, i believe my kids dont need another three hours in the classroom. Im not sure how the teachers would take such a proposal. I think it is important for kids to come home after school, decompress, go outside with the neighborhood friend, kick a ball, learn some street skills as well some other skills. Charles kevin . To kellys point, i think it has merit, striking a conversation, starting a conversation that is important. I was a child of two working parents. I spent a lot of time in afterschool programs or home by myself with playground kids and stuff like that. Wherever, whatever we do in this country kids have to be safe. Again it is a question i think that is worthy of conversation in this country. Charles we saw some action with the child tax credits and things like that. So were moving in that direction. Kevin, kelly, thank you very much. Appreciate it. Charles, good to see you. Thank you. Charles the multibilliondollar cbd industry is on fire and more and more professional athletes are backing the use some call a miracle drug. We talk next to a former Football Player<\/a>, and why some are supporting cbd and the impact it has had on his life. Diamonds shine like me. Theyre strong. Theyre brilliant. I am a diamond. Find beautiful diamond styles for all the diamonds in your life, including you. Get 25 off everything. Including these one of a kind deals at the early black friday vip event. Exclusively at zales. The diamond store. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Charles the cbd industry is it expected to hit 5 billion in sales this year. More than 700 jump from just last year. A list of proathletes endorsing hemp based product is growing. Cbd is noninflammatory psychoactive compound. It is said to help you with anxiety, depression, insomnia, acute pain, chronic aches, inflammation and swelling. Former professional Football Player<\/a> cal turley will talk about the cannabis based product, impact on his life. Im a huge fan, man. Im glad to have you on the show. I appreciate that. Likewise. Big fan. Charles lets talk about this. More and more athletes are coming out saying hey, if we have this product it scan change our lives. Many of us could still be playing. Most definitely. That goes to science what this is. We have conversation about cbd going on. Why is that . Miracle drug been around thousands of years. There is a lot of Science Behind<\/a> this. Our government funded studies for decades on marijuana and cbd. Discovery of the cannabinoid system back in the 90s what led to a nur row protective patent not just antiinflammatory. But the neuroprotective patent im interested in. Charles explain the difference. People think it is weed or get high from it or enhances performance so why would we want it involved in professional athletics . Going to the science. Why is this working . Because you have a cannabinoid system, every person, every viewer on your audience has a cannabinoid system in their brain. Theyre producing levels of thc, cbd and other things theyre hearing about right now that sound funny to them, that is actually in their bodies running currently. You have a level of testing for thc you dont have the ability to test for cbds, there are millions of cannabinoids in human body. From mothers nursing to professional athletes it is important we understand the cannabinoid system. It is number one regulatory system in the human body. Charles my son opened up a vape, cbd shop, three months ago, four months ago. Cbd products are offtheshelf. Elderly folks buy it. They come back again and again. Many say it performs miracles. What would holdup be . How likely one day an organization like the nfl, okay it is wise to allow athletes to use this while theyre playing . Hopefully that comes soon. You know, again going back to the neuroaspects of this, dealing with neurological injuries, having those myself, experienced seizures, vertigo, depression, anxiety, all on extreme levels because of damage done to my brain, i hope that moves a little faster. The discussion about this plan is secondary why it is working. It is working because we have these natural cannabinoids in our body. If we allow a plant that mimics our own genetic makeup, the opportunity to get in the game, you will start seeing a dress i can increase in length ever careers. Charles right. Faster recoveries, from severe injuries. Charles right. Limited surgeries. All of these things. Then you know, back to the neurological side of this, and death rate in youth football. We can completely eliminate with cbd. Charles wow. We got ron gronkowski, tiki barber, bubba watson, paul pierce, greg norman involved in the area. You have your own cbd product as well. Kyle, thank you very much. We appreciate you helping us out here. A topic that wont go away. We appreciate your expertise. Thank you very much. Cannabis saved my life. I will continue to tell the story. Charles thanks. The First Time Ever<\/a> federal prosecutors are charging saudis with deploying agents inside of the united states. Coming up why they recruited twitter workers to spy on users. It is a record day for the stock market. All three major indices are alltime highs. Were starting to fade a little bit. A little bit of profittaking. Nevertheless we probably will see another day of record closes. So how do you play this . We have more. So stay with fox business to find out. Where we get to know the people that drive a companys growth and gain new perspectives. Thats why we go beyond the numbers. T. Rowe price. Invest with confidence. More exciting than than getting a lexus. Giving one. This is unbelievable it really is. The lexus december to rembember sales event lease the 2020 rx 350 all wheel drive for 419 a month for 27 months. Experience amazing at your lexus dealer. We chose eleanor. It was greatgrandmas name. So were in this little town near salerno and everyone has dads eyebrows. Help your family discover their unique story, with a gift from ancestry. Help yonice rock. Discover their unique story, its time to drop gold. Go digital. Go grayscale. 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. Charles disney set to report after the bell days before highly anticipated disney plus streaming service. Throwing the company smack in the middle of the apple and netflix. Ashley webster in for liz claman. Youre hitting this big time today. For sure, charles. Disney after the bell. Analysts look for two streams of revenue, media networks, parks and resorts. Both are waning in recent quarters. The question where can the company make up revenue. You said streaming disney plus will debut next tuesday. It is a very, very crowded field. I was making a list, charles. Disney plus. Peacock channel coming out next year. Hbo max next year. Apple tv just launched. Amazon, hulu, amazon prime video. It is a very, very crowded field. The question who can survive and who may not survive . Is there room for everyone . Well have a panel of experts here to discuss not only disney earnings but bigger streaming wars which are getting hotter and hotter. Charles ashley, cant wait to see it. Thanks a lot. Sure. Charles tune in for the claman countdown at the top of the hour. Meantime a fox news alert for you. Two former twitter employees are facing charges accused of spying on behalf of saudi arabia. Jackie deangelis has more. Reporter good afternoon, charles. The criminal complaint was filed in criminal court in san francisco. Two men are charged here. One a saudi national, one a u. S. Citizen a former employee at twitter. A third man was also charged. He was supposed to be a go between former twitter employees and the saudi government. Even though no saudi government officials have been charged in this specific complaint. Remember that go between, he is said to have ties with the crown prince, mbs. So two real important issues here. Number one, why are the saudis doing this . Are they worried about the role social media is playing right now, especially with dissidents in the kingdom, people that can potentially organize against them . Remember how big of a role twitter played within the arab spring. The second issue is technology in general. Not only how it is used in this country but also abroad. Peoples information, their privacy, we talk about this so many times. What is to stop a government from trying to get this information, or other individuals trying to get it from people that they know that worked at these companies or potentially trying to buy them off . Its a tough situation. The u. S. Attorney, david anderson, he said this in a statement, i will read it to you. Quote, we will not allow u. S. Companies or u. S. Technology to become tools of foreign repression in violation of u. S. Law. Obviously that is a lofty statement there. The question is, how can it be enforced, charles . Charles yo. Great question, jackie. These things keep happening. They do. Charles well find out. Thank you very much. Folks meantime, were seeing some more profit taking in the last few minutes on reports that the white house plan to roll back chinese tariffs is facing fierce, the word is fierce internal opposition. There is no final decision has been made either way. Meantime still a big day for the markets. Were up huge on all major indices. When we come back, how you can get in on the action. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies<\/a> ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai customer experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Charles you know, the markets might be going too good for their own good. Buying yields are racing higher, impacting Home Builders<\/a> and other stocks, and now the betting is shifting from one, to two rate cuts next year. What can we make of this recordbreaking session . Well, want to bring in one of our favorites, jason rothman, of ever plus capital. Its amazing because, okay, the dows up 200 points, but youve got four sectors on the s p that are down, you have got the Home Builders<\/a> are down, and these yields are soaring. I remember last time yields started to soar, the market didnt fare too well. Yeah. And, frankly, thats my major thesis as well. While everything looks good for now, the tenyear bull market pause has now stopped, and we are continuing to make alltime highs pretty much every day. The u. S. 30year bond prices, the benchmark 10years move inversely to the yields. The yields have rocketed higher, so is theyre still not in the danger, the yields are still relatively low, but if this trend comets, you know, i would continues, i would call the top for the stock market rally for now. Charles youre right, i think before the magic number was on the tenyear yield at 3 or more, but also the pace. Whenever they move with quickly, it seems in the last couple years to spook the market also. We had a pretty good move this week, you know, so someone has got to make people money. You pride yourself on being a great stock picker, jason. To you just let it ride until the market starts to react, or do you make adjustments now in. I think at this point you let it ride, charles, and i think im all right. I dont really i dont try to have too much pride, but ive had some okay picks in the past. The big picture is this, we dont need to rush for the exits right now. Again, you have a great point. Thank you for bringing that up. The 10year kind of danger zone talk about when it crosses 3 . Its pretty much half that right now. So i think the coast is clear at this point for a stable to somewhat bullish market. And last but not least, theres still majorral to be had value to be had out there, its just outside of fact. Charles im glad you mentioned that. Before you get to that, i want to also mention this china news, reuters just out minutes ago with another story. Of the Financial Media<\/a> breathlessly, we report all of this. I tell people, guess what . There was a stock market before the trade war. And, you know, the mothers milk of a bull rally is a mull market and corporate earnings doing better and better. This morning with we had cardinal health, qualcomm, squared, some pretty well known names and, of course, after the bell weve got disney. How important is it that disney keeps this going . Well, i think disneys not a make or break type of earnings report. I think disneys at a, not a crossroads, but at kind of a transition period in the best sense of the word with disney plus, etc. So i think, you know, i dont want necessarily think i dont necessarily think that disneys going to underperform the expectations for earnings, but the things that i want to focus on or, excuse me, the companies are qualcomm and baidu. Those are purveyors of a lot of truth for how the market is looking towards the future of tech and really the trade war. Baidu is down 50 from the mid 200s which is what it was a couple years ago, so that is incredible value. Charles 185 million daily active users, and what keeps a stock like that down . As you said to your, to the floor reporter, thats a good question. And we dont really have an answer. So at the same time, the only thing i could say ive been following and doing some investing in chinese stocks for at least 15 year, and heres one thing Everybody Needs<\/a> to know about chinese stocks, they get overblown to the upside really, really fast, and you think youre a genius, and they also get overblown to the downside when you think chinas going to fall into the ocean. Neither are true. So we need to focus on the value that baidu has and, frankly, thats one of my favorite picks right now. Chart charles you like the semiconductors, obviously, you like qualcomm, and you say focus on value. Dont chase momentum names which, for the most part, have been moving sideways. I think we covered it all, jason p. Thank you as usual, my friend. My pleasure. Charles we are up over 200 points on the dow, 10 points on the s p, the nasdaq up 31 points. These are solid gains, perhaps well be up for five straight weeks on the s p. Ashley webster in for liz claman. Its really what we want, we want a stable market moving to the upside. I dont think its too frothy and certainly not too exuberant. Ashley ill do my best not to brow it in the last hour. [laughter] great tough. And, indeed, breaking news, markets at record highs but pulling back just slightly after reuters just reporting that the white house plan to roll back chinese tariffs is facing, apparently, fierce sperm op internal opposition. That taking some of the wind out of the sails with the dow, s p 500 and nasdaq all still on track to close at alltime highs after setting new intraday records. Its almost a daily occurrence now. 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