Pulled off in germany. But first, a possible thanksgiving truce on trade. The two deals on the table are moving closer to resolutions. As you can see the markets are happy. President trump saying the u. S. Is in the final throes of reaching a trade deal with china, while mexico says Speaker Pelosi will hold a usmca vote between thanksgiving and the end of november. Edward lawrence has the very latest on the tray front to capitol hill. Sounds likes mexico knows more about this than we do. Reporter david, not a vote. She says she will get the agreement between thanksgiving and the end of november but House Speaker nancy pelosi clearly feeling the pressure. She did release this statement now saying that, quote, we are within range of a substantially improved agreement for americas workers. Now we need to see progress in writing from u. S. Trade representative for final review, using the words, final review there. Mexicos chief negotiator was told by the House Speaker he says, that she should have a completed agreement from the trade representative sometime between thanksgiving and the end of november, which is as we know, sunday. Part of the letter, the mexican president sent to the House Speaker. I want to read one sentence out of that letter. This says this. In good faith with no intention of interfering, asking that the passage of the trade agreement not be postponed or delayed. Mexican president says that his country has fulfilled the commitment under usmca. He would like to see that agreement go forward as quickly as possible. Treasury secretary spokesperson holding Nancy Pelosis feet to the fire. Listen. I have a very Good Relationship as you know with president xi. Were in the final throes of a very democrats in congress have not brought this to a vote when even as of yesterday the mexican president is calling on Speaker Pelosi and democrats to bring this to a vote and get it passed. Reporter on china, the u. S. Trade representative sources in the u. S. Trade representatives office, treasury department, say a phone call between the primary levels of the trade team happened this morning. Heres the president on that call and what is happening with china. Listen. I have a very Good Relationship as you know with president xi. Were in the final throes after very important deal. You can say one of the most important deals in trade ever. It is going very well. Reporter Chinese Commerce ministry out of the phone call says this, the two decides decided how to resolve each others core concerns and added, reached a consensus how to resolve related issues. China says those core concerns again are being addressed. This is inching closer seems to a deal with china. So usmca moving closer and china moving closer as we get to the end of the year. David as positive the markets are, they are still a little cautious. If they were convinced end of the year you would see a 200, 300 point gain. Thank you, edward. Trade optimism this week as you can hear but is the ongoing battle hurting us and the connie in the long run . Former Federal Reserve chair Alan Greenspan telling fox business tariffs are hurting Economic Activity no doubt. By the fact that there is ever increasing expectation that the issue of tariffs and the tariff wars are going to get resolved because, there is no question that the type of tariff structure that we have had and the customs that are flowing in, has been a significant deterrent to Economic Activity. David to Money Map Press chief investment strategist Keith Fitzgerald how investors are reacting. Thanks for being here. We should mention greenspan is telling investors to run for cover for about a year now. He does think the market is frothy perhaps overdone but what do you think about what he said . Well i got to tell you, you know i think you have got to take greenspan with a huge grain of salt. He was wrong about a lot of things. He missed some things with stimulus. I think he has been off base the entire time. So his fed played a significant role in the financial crisis. Everything that happened since. I look at his comments, yeah, classic economic theory. He has every right to be concerned. What you talk about what traders are doing, profits theyre pursuing the economic reality were dealing with, it is logical this market is powered up. It has potential to power up. David i understand benefits of tree trade, ive been a free trade trader my whole life but i understand clearly now before trump was president how much damage china has done particularly to the u. S. Economy and the theft of intellectual property and a whole host of things. Were dealing with it now. Seems like the economy is able to absorb pain from that dealing . Well isnt that the cool thing about capitalism, right . We talk about markets being a forwardlooking mechanism this is Proof Positive that is the case. Traders, investors, the like looking beyond the trade tariffs looking what happens next. They realize china will come back to the global stage and come back with integrity and honesty at some point in time whether this agreement or partial agreement remains to be seen. David appears the chinese economy suffered so much as a result of what happened over next couple years. They are anxious for a some kind of deal. Wont be a phase one. Something on the board. How will the market react if that happens, quickly . I think it will be a rip your face off rally if china comes to the table with honesty, integrity were looking for. A cash based economy. A lot of data they cant account for. All appearances to your point, it hit them hard. David Keith Fitzgerald, great to see you. Appreciate it. Signs were closer to usmca deal. To real clear politics associate editor a. B. Stoddard. Thank you for being here. Speaker pelosi has been saying positive things about usmca over past couple days. Is she serious about this . Or is this just a stall before the election . Oh, no. Democrats and republicans have been on the table, at the table on this issue in good faith for a very long time. It has been very quiet, which is a sign in this town that they are good faith negotiations and progress is being made. There was a foal towards end of november, sounds like theyre sticking to that. Mr. Lighthizer and key negotiators at the table have, as i said have not been critical. Trump has thrown around stuff on tweets about the do nothing democrats but this has been an ernest effort and im very sort of bullish this will come together by the end of the year. The only thing that threatens it is the idea of a spending bill breaking open into some kind of a fight, creating some kind of a shutdown brink. That by december 20th is a factor. Theyre trying to come together behind the scenes on those numbers but usmca has been chugging along and she intends to pass it. David thats great news but is there pressure on her from democrats fear if the economy, if we get the pop a lot of people both think in the stock market and more importantly in the economy itself with more jobs, et cetera, that might be good for trumps reelection . Well, theyre always going to be democrats on the leftwing of the party who you know, want to punish the president but i think Speaker Pelosi made it clear all along she intends with her new majority in the house to get something done by the end of the election. She sent many, many, many bills to the senate. She knows they will never leave the senate. They will never become law but this is something that they want to do to show that they were at the table on the intended to do stuff they said they would during the election. She is also, i think, many republicans, really afraid of the idea of President Trump actually blowing up the original nafta. I think that she wants of course to get movement on these labor and Environmental Standards and those things are important to a lot of democrats. She will fight for them but i think all along she intended like i said in good faith to try to get this over the finish line. David you hinted at this, democrats do need something when they go to the polls in november. They need to bring something. Look were not a donothing congress. Yes we can impeach and do significant things for the economy at the same time, right . Right. You know the big hope of course, david was drug pricing. Very bipartisan. The president heralded one of his big priorities. He is trying to do stuff by executive order. I dont know if it will help every state across the board. There will be potential legal challenge, a lot of criticism unfortunately drug pricing negotiations in congress have fallen to fights that are intraparty fights. More conservative republicans and main line republicans and more progressive or left democrats with the established democrats. That sort of bogging that down, that is really upsetting because its a top priority for most americans across the board and both parties said it was priority this year. David i have to quickly ask you about the impeachment itself. There are suggestions from some polls that in fact the americans didnt like what they saw with adam schiffs inquiry last week. And more americans now are against the idea of the president being removed by impeachment. Do you think democrats are concerned about these polls . Is there any chance that pelosi would pull impeachment before it goes to the Judiciary Committee . I think that well no more after we speak with the constituents and engage reaction from voters over thanksgiving. I dont think we know that today. All along nancy pelosi likely this would be politically unpopular. Why she didnt want to do it. She always knew that the president would never be convicted by a senate in a trial. She sort of said, what is the point. After the ukraine matter, they decided as a body it was their constitutionally mandated responsibility as separate coequal branch to sanction a president for this kind of conduct, abuse of power, violation of his oath, potentially attempted bribery, with bribery an attempt is the crime. You dont complete it, just succeed it, just ask and demand is a crime. They know that in swing states the polls havent moved that much. They didnt expect it to go, to become david some have. They have, i dont know that they will change their path but i think theyre trying to get rid of it as soon as possible. David ab, when you see a moderate like will hurd say that this doesnt, there is not proof of bribery here or extortion, that shows that it is going to be completely a partisan issue. I dont think voters like the idea of impeaching a president with a purely partisan vote. It has never happened in american history. Right. And i think that she knew that going into this. And thats why she waited for a while and she wasnt, she wasnt game to do this. I think that they felt they knew this would be politically unpopular. They proceeded to do it anyway. David a. B. Stoddard, if youre not reading real clear politics, real clear markets, all of the real clear products youre not getting a full sense what is happening in the news. Great stuff. Ab, thank you very much. Thank you very much. David while youre shopping on black friday, World Leaders will be shopping for a plan, get this, to Tax Companies worldwide selling all gifts. We explain that coming up. 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Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. David positive talk on china means good news for the market. All three indices just hit session highs. They have come off it just a bit during, i said vacation, during the interlude between segments here. But positive word from the president on china talks led to a little push by the markets and again, we are into record territory right now, just off a little bit but very close there. Meanwhile alibaba debuting on the hong kong stock exchange, tech and online retailers still going strong. Appears so. Susan li here with the very latest. Susan. Largest Chinese Company on the planet. I would call this successful debut for alibaba reaping 11 billion in hong kong. They could take that up to 13 billion. The stock shot up as much as 8 before selling at 6 1 2 . More importantly for alibaba, this shores up confidence in the city and market of hong kong which has been battered now by six months of ongoing protests. In fact alibaba had to pull the initial share sale back in august because of ongoing turmoil but decided to list before the end of this year. Now here is look at the listing ceremony at the hong kong exchange. Executive vicechair joe tsai in attendance. Noticeably absent was jack ma the founder of behemoth. This was part of jack mas dream, list shares closer to home where people understand the business better. I asked alibaba about cornerstone investors who are the big ones buying . They wouldnt tell me who. Some of the big ones you can imagine were part of this. Also hong kong, talk about the shoring of hong kong, also the confidence in the chinese consumer. Alibaba raising 11 to 13 billion in this listing. It takes their cash pile up to 43 billion which they say they will reinvest back into the business. They came off one of the most successful. One of the most successful shopping events on the planet. In just 24 hours they sold 38 billion worth of goods on singles day. This helps rally alibaba shares which outperformed over the past month in new york. Dont forget they had the record breaking listing back in 2014. Alibaba shares actually outperformed likes of apple, amazon, alphabet and facebook. People do see signs, shopping, regarding of slowing growth in china does continue with the help of the chinese consumer. David . David amazing with one and a third billion people you can still have a bad economy and record sales like that. Susan, great stuff. Thank you very much. All this is happening as best buys stock surging after beating its earnings expectations and raising forecasts ahead of the holidays. To bank rate senior economic analyst mark hamrick, how reliant the economy is on consumer strength. Mark, a lot people were counting it out as well as lot of other retailers. What do you make of the renaissance of best buy . That is something years in the making david. There is still value wading into the brickandmortar development because we want to see things that we want to buy. Were still, you know, were still having animal aspect to our brain, we like to go out to have sensory experiences. To the extent that reflects the turn around effort of best buy, kudos to the management. Obviously consumers are paying attention. David absolutely they are. Lets talk about whats happening with the Holiday Season because expectations are very strong here. That well have a very big season so far. They say, at least 4 gain over last years sales. Which werent bad at all. What do you think . Well, i think thats a reasonable expectation. National Retail Federation obviously has a long track record in making predictions. Let me make a differentiation, david, between what the overall level of sales may be, and what consumers are going to do. We complete ad survey of bank rate that found 52 of consumers plan to spend about the same this year as last. Only 13 plan to spend more. From our personal financial perspective we say, were glad that people are focused on paying down debt and on saving money. Obviously Retail Establishment want people to go out and spend like there is no tomorrow. David retailers are doing all they can to expand. They seem always to be expanding every year a little more the Holiday Season. Whether it is black friday being more than just one day. In fact black friday already started last weekend. Whatever it is. So will the expansion of the Holiday Season help retailers beat those records . I think consumers are smart enough to know that just because there are six fewer shopping days in the holiday period between thanks giving and christmas this year, they still have business they need to get done. Why 40 of consumers started shopping before november 1st. Retail is so promotional these days. People, there is the part where people are turned off by the fact it seems like the Christmas Decorations go up after the 4th of july. David right. The other part it is so promotional you can buy sales when prices are low. David mark hamrick, bank rate, thanks for being here my friend. Appreciate it. A bloomberg backlash. How employees of the 2020 candidate are lashing out over coverage rules. Wait until you hear this. Details coming up. Each day our planet awakens with signs of opportunity. But with opportunity comes risk. And to manage this risk, the world turns to cme group. We help farmers lock in future prices, banks manage Interest Rate changes and airlines hedge fuel costs. 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