Hey edward. Reporter yeah, neil maybe the market is priced in the usmca will eventually get done but i have multiple sources stakeholders to usmca as well as congressional sources all being told that a deal with mexico over the changes to usmca has been finished. These sources are also told that canada would sign off on this deal and now a congressional source telling me that the language will be finalized in the next 24 hours and this deal is reratified by mexico also, the ratification process will be finished in canada and a vote is set here in the United States for ratification and the mexican trade negotiators back here in washington today this all center s around enforcement of labor provisions. And the House Speaker wanted the u. S. Inspectors to go in and make sure that mexico complies with workers, making 16 an hour , as well as other regulations. What mexico settled on is a neutral third party as well as the mexican and u. S. Representatives looking at compliance. Now with the impeachment hearings the white house is saying the president today is focused on keeping the economic expansion going. Hes saying be here in the oval office today in the cabinet room youll be in there, working on education reform, planning the next meeting with foreign leaders, speaking to foreign leaders over the weekend on any number of Different Things trying to get that usmca done, hes doing this is a split screen america right now. Reporter so after today, there are just seven more working days for the house, republicans pushing for ratification vote this year, which is possible, if the House Speaker agrees. Another congressional source telling me that democrats are now reviewing the changes. Now on china, neil quickly to the december 15 tariffs are still set to go forward as of today. Trade sources say the chinese are preparing for that of those going in in six days from now which again might be what the market is looking at here. Neil all right my friend Edward Lawrence in washington, so it is a little weird we got this optimism that a usmca deal can be scored and maybe before these guys leave for their christmas break on the market just says yeah, whatever. Imagine if it was reversed and it was a china deal. Gary kaltbaum on that. Then what would we be seeing gary . All i can tell you neil on my notes i have in highlights the fact that new tariffs could go on sunday, not in highlights as usmca but to me the big enchilada is china. I dont think that were going to put tariffs on them but if we do, expect the marchs to get hit. Expect more uncertainty with the business and ive got to believe the president is going to come up with something to not put them on. As far as the deal getting done by sunday, i dont think so, maybe something small comes out of it. Im not saying anything big at this juncture as far as usmca, i dont know, i keep hearing one thing on monday, Something Else on tuesday. Neil yeah, i hear you on that you mentioned the president and what he might do. Im in your camp which means you should runaway from that view that the president will do something on the tariffs and maybe delay them not out right cancel them on the idea they are making progress or whatever. The markets ahead of time will like that, but we kind of strung along on this response to all things china up when it looks good, you know, down when it looks bad. Where do you think were going on this . Well imagine i manage money for a living and ive got a deal with a tweet every three hours on it. I think at the end of the day, something gets done, but i thought that 12 months ago, nine months ago, six months ago and then i read the story today about china is going to get rid of all foreign computers and Foreign Software over the next three years and im wondering whats in chinas mind, so look, im hopeful, but weve been talking about this a long time, and still were kind of like at square one. Ive been saying all along, just give me something and i think markets will love it. I think the economy will love it as i tell you i speak a lot of Business People and they all still worry about the uncertainty if this thing keeps going into 2020. Neil there is a lot of that uncertainty that a lot of bulls like because in the middle of that uncertainty and concern about l cash on the sidelines is the hope that can be the field for a continued market rally well see my friend always good seeing you. You got it thank you. Neil gary kaltbaum. Obviously the second hearing is still going on right now with the Judiciary Committee but really not at the effect of changing anyones views if you were against the president youre still against the president , you feel that hes being treated unfairly, still you feel hes being treated unfairly and this indicates it. Take a look. President trump chose not to show. He may not have much to say in his own defense, but he cannot claim that he did not have an opportunity to be heard. And theyre desperate to have an Impeachment Vote on this president. The economy is good, job creation is. Its hard to imagine that anybody could dispute those acts , let alone argue that that conduct does not constitute an impeachable offense. Impeach a president whose 63 Million People voted for, over eight lines, in a call transcript is baloney. We just hear your staff ask questions of the other staff and the members get dealt out of this whole hearing youll try to overturn the results of an election . Neil you know the good thing about this is they say a lot of time by talking over one another , otherwise that could really dragon. Anyway, lawmakers could be voting on articles of impeachment as early as this week. Former federal prosecutor joins us Fox News Contributor liz peek on what if anything this is changing or doing or proving, liz . I dont think minds are being changed. It really is, i think, remarkable. Weve had all these hearings and look at polling over all those weeks, nothing has changed. I think thats a real problem for democrats. The one thing, i should back up and say that has become more obvious, is that independents and also voters in swing states really oppose this impeachment. That has changed. They have moved more aggressive ly against it than they were a couple of months ago and i think that should alarm democrats and really the states that they need to win, they may think they are doing everything right but for voters in those states they are not, and i think look, i dont want to take all the time here, but theres a lot of reasons why that vote would be changing. One, it does appear that democrats have had this in their minds since trump was elected basically. They wanted to impeach him since day one. Two, we had two entire years of the Mueller Probe which went nowhere, and you know a lot of people are saying well wait a minute. We elected you to do something more than just sit here and rail against President Trump so i dont think theyve made their case. I think that republicans have been really good at suggesting that this has been an unfair process, and fair minded americans are just saying no, we dont buy it. Neil its hard to look at the political implications of all of this but im looking at the time line here. I mean, we could, if they do get articles of impeachment at least to gather them by the end of this week, and were looking at a vote in committee soon there after, and then in the full house, maybe the weekend before christmas, first night of hanukkah, talk about awkward. Well, i suppose that you could say that. I think the democrats see it as in their interest to get this vote on impeachment by the end of the year, so that there can be a trial in the senate in january, and the matter can be resolved one way or another before they begin the heart of president ial primary season. Neil do you think that assuming he is impeached the president by democrats in the house, what happens in that timeline for a trial . How rapid is it . Is it rapid . What do you think . Well its up to the Senate Majority and Mitch Mcconnell in particular, but my understanding is that he in the past has estimated about two weeks for the Senate Impeachment trial, which seems doable. It would seem to me the senate trial could take place over a matter of weeks, maybe a month or month and a half, but not longer than that. Neil so real quick i want to go back to liz and the market but is it your sense that information could be forthcoming that would change minds. In the beginning with the water gate hearing the vast majority of americans thought it was a kabol against Richard Nixon a waste of time and material facts that came to light that changed everything, Million Dollar checks to keep the hush hush money the appearance of tapes at the white house. I dont see that here. I mean i guess we could be surprised. Your thoughts . Can you hear me . I apologize hes not hearing me. Go ahead, im sorry. Go ahead. Well i thought the question was to the other panel. But a couple of quick, oh, okay im sorry. Just real quickly its hard to move the needle on this Public Opinion because so much of the public is already baked in as either being pro or antitrump however it is worth noting that two months ago when the ukraine story first broke, the support for impeachment was about 38 nationally. Now its at 50 nationally so the ukraine story itself has moved the needle somewhat even if this most recent week or two of hearings hasnt. I think the only thing that would move the needle further would be if you could get testimony from someone higher up like for example, mr. Bolton who had direct dealings with mr. Trump. A lot of those people who had direct dealings with President Trump are not testified on President Trumps own orders which is sort of the conundrum we have here. Neil what about the back drop of the economic numbers strong jobs report youve alluded to liz. You and i chatted that made a big difference and probably saved bill clintons hiney that the economy was strong, the markets were strong but not that it should, but it helps. Oh, without a doubt it helps Approval Ratings have pretty much depended on the economy and the economy fridays jobs report came at a great time for President Trump. He was beaten up over his nato confrontations, with some of the people over there, and then the impeachment trial has been going on and i think trump, you know, is taking a bit of a victory lap on this. Everyone said he could not neil shouldnt he stop tweeting about it . [laughter] thats true. Neil because he wants to be above the fray and let this sort out. I mean, hes got the economy and that. I think he has plenty of spokespeople in congress doing a good job defending him. I kind of agree and id love to see him tweet less, govern more, because i like what hes trying to do for this country, but you know, he really likes getting through the media, and to the people who voted for him, and he can best do that via tweet in his mind. I think it has pluses and minus es for him. Neil thats a very diplomatic report. Liz final word im sorry for the confusion that was all my fault not yours my friend. Thank you very very much. Meanwhile the outcry over this years peloton ad. But what about the one where the husband was using the bike last year . After this. chime shaq magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the Epson Ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The Epson Ecotank. Just fill and chill. Available at. But you dont feel good. With polycythemia vera, pv, symptoms can change so slowly over time you might not notice. But new or changing symptoms can mean your pv is changing. Lets change the way we see pv. You track and discuss blood counts with your doctor. But its just as vital to discuss changing symptoms as well. Take notice and take action. Discuss counts and symptoms with your doctor. Visit takeactionpv. Com neil all of the times weve shown that commercial maybe we should have like 10 peloton bikes anyway the outcry continues over this years peloton ad that wont go away but not when last years ad showed husband using a bike does anyone remember that well christina partsinevelos does and she joins us with more. Neil, yes youre right were not getting paid by peloton to talk about this but what we know is that investors are buying in on this right now the stock is up over 5 despite the negative backlash about the ad you just showed from tuesday to thursday, the stock dropped over 15 , and to reiterate you had a husband give wife a bike for the holiday s but the internet some people took it as hi, honey youre fat here is a bike for the holidays but how is that different compared to last year s ad in 2018 where a man gave his significant other a bicycle . You decide. Listen in. This thing, called love, i just cant handle it, this thing , called love, i must get with it, im ready, crazy little thing called love. This holiday, give the gift of peloton. Were getting mixed reviews on wall street right now, and several reports coming out i guess you could say the pedaling hard oppenheimer is saying oh, dont worry about this, it wont effect sales, versus Raymond James said they wont effect sales and oppenheimer is saying the recent stock rally weve seen over the last little while is unjustified and last but not least Research Firm sprinkler says right now 73 of all of the social media mentions of peloton online are negative, but neil, the mockery continues this time with celebrity Ryan Reynolds who hired the exact same actress from that peloton commercial for his own branded gin commercial. Listen in. This gin is really smooth. Yeah we can get you another one if youd like . Youre safe here. To new beginnings. To new beginnings. There you go. Its going to be a fun night. You look great by the way id like to point out that the peloton ad was titled the gift that keeps giving or gives back and the gin ad was called the gift that doesnt give back. And so well see what happens for investors and whether they get Something Back from all of this. Neil or they are just spinning their wheels. Oh thank you. Neil youre welcome, america. Christina great reporting as always so has this reaction got a little extreme as fox contributor kat timpf independent womens forum. Let me ask you, kat, is this much to do about that thing or is the Company Smart . I think that its much about nothing honestly. People got really really mad at this commercial going so far as to say this husband is an abuser youd think if you didnt watch it and just looked at twitter that he was getting behind it or being like you get on that bike or im leaving you for the secretary. Thats not what happened. He just gave her a bike and it was an annoying commercial. Her nervousness annoyed me and yet i have to defend it because everyone elses reactions are so extreme. Neil its one of the industry where people are doing like going back in time, to see prior ads and whether they were as offensive and i forgot about the one last year featuring a husband sneaking rides on this thing before christmas, a gift he had for his wife. Where does this end . Look this is really cringey for a variety of reasons unless asking what happened to rich people why are they so much less interesting, bring back howard hughs, right . One thing that this commercial is not is sexist. Theres 100 billion industry, much of it aimed towards women, of fitness. There is nothing wrong with giving your wife a bike if she likes to work out on the bike even at 2,500 bike as peloton costs and i think a lot of what people are making fun of in this ad online was not the sexist angle and then a few blue check marks swoop in with the whole oh , my god a husband gave his wife a bike and this is sexist and you think shes fat. Thats a ridiculous take and like kat enforced into defending that neil what if she works out and if the actress were a fat actress . Id actually be more comfortable with that because i dont believe that shes never been on a stationary bike before and she would really be that scared. When i lived in la for a while and i didnt have a car, i used to ride my bike down the 10. I was not as scared as she was to sit on this stationary machine in her living room. Come on, calm down. Neil then flip it around what if it were a male . He got the gift from his wife or significant other and in particular it was me and the first thing youd say is well yeah, get on that and pedal until you get to the moon. Would it be different . Look i dont want to give this ad too much credit and take it too seriously. Neil wait a minute. We have a series built on this but i do think that there is a consistent culture kind of issue that starts to irritate me and a lot of other americans when in every commercial its totally fine to beat up on husbands, to beat up on guys and men in general you can make any joke you want about men, but the second there is something cringey about women we have this whole discussion about whether or not its sexist. This was not sexist and in a country where we have the lowest female Unemployment Rate on record, and women make up the majority of the electorate about 53 of the voting public, i guess this is what femininists have to get upset about. A guy giving his wife a 2,500 bike that nobody would be upset about if it was the other way around. Neil every ad featuring a husband or a dad, any male figure, they are allied jots. We dont know what were doing. And i always like to point out we built the pyramids. That is true. You were personally involved. Neil i was involved in tax all right we have a lot more coming up the Dow Jones Industrial is down about 78 points and whats remarkable this folks is were very close were told to a u. S. Mexico canada deal. The markets dont care because its not a china deal were talking about its u. S. And mexico and canada. It doesnt move the needle after this. Im your 70lb st. Bernard puppy, and my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey my focus is on the road, and thats saving me cash with drivewise. Whos the dummy now . Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. 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Without asking your doctor at chevy, were all about bringing families together. This time of year, thats really important. So were making it easier than ever to become part of our family. Thats why our chevy employee discount is now available to everyone. The chevy price you pay is what we pay. Not a cent more. Family is important to us. And we want you to be part of ours. So happy holidays. And welcome to the family. All the chevy family get the chevy employee discount for everyone today. Neil ford workers are now coming forward over the focus and fiesta model transmission problems that they say everyone knew at the time, jeff flock has the details here. Jeff whats going on . Reporter Detroit Free Press said neil talked to some ford workers that were involved in the development of the transmission that is in both the ford focus and the ford fiesta. Now, important to note those two vehicles have been canceled by ford. Were talking about model years starting 2011 though, and those two vehicles. Some explosive quotes in that they allege that ford knew they had a bad transmission from the start and went ahead with it anyway but take a look at what one worker told the ford or i should say the daily free press. My hands are dirty. I feel horrible, said one of the engineers. Good people tried to make it work, but you cant violate the laws of physics. This is about a transmission called the dps dual clutch power shift transmission. Its funny i took a ride in the ford fiesta when it first came on the market, and it was design ed the transmission to give the fuel economy of a manual transmission, but the ease of an automatic, but it was kind of jerky, and it took some getting used to people had problems with it and then there were other problems that developed. A huge class action lawsuit, ford you know stepped up in some ways and paid for repairs of the transmission and ford made this point which i think is important ford says the vehicles in which this was installed were and remain safe. That has been born out and they admit they had a bad transmission and all kinds of problems with it, but it wasnt a safety issue and nitsa has not called for a recall although folks are looking into it the department of justice what did ford know and when did they know it about having a faulty transmission. As i said this is all a little bit of a moot point unless of course you own one of these vehicles, because they arent making them any more which, you know, might be for the best. Neil jeff thank you very very much. In case you didnt hear, paul vo elker, the man whose chairman of the Federal Reserve, appointed by jimmy carter to whip inflation and he did just that but he also because of his actions all but forced jimmy carter out of office and paved the way for something called the reagan revolution, remembering the impact of this man, after this. Limu emu doug and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. 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. All so they can manage their risks and move forward. Its simply a matter of following the signs. They all lead here. Cme group how the world advances. Neil chairman very nice to have you. Not so much whether youre an advocate of whether the rates should go up or down but whether the market should be a factor in whether rates go up or down. Did you, when you were chairman of the fed, factor in how the markets would react . Of course you are always wondering how the markets would react. Every week, we were reading in some disaster from the secret service making problems and the irs or what happened in katrina some years ago, what happened to obamacare, why wasnt that better prepared. All these not very glamorous problems need attention. My favorite quotation in this whole thing from thomas edison. I dont know if hes democrat or republican but everybody thinks he is a pretty sensible guy. He said vision without execution is hallucination, and our problem is weve got lots of vision in these countries, were falling down on execution and weve got quite a lot of hallucination these days. Neil paul volcker was one of the parties that failed us and the voter and our Economic System and of course you remember him as chairman of the Federal Reserve. He passed away at 92 years young it was a remarkable life and he was a remarkable chairman of the Federal Reserve. He was chosen by jimmy carter. He was the new York Federal Reserve president at the time, to whip inflation and quickly. Carter himself realized that was a very big problem and halted the election. I raised that with jimmy carter in an interview not that long ago. Take a look. I thought of you sir when this president was criticizing Jerome Powell and the Federal Reserve chairman and his stance on hiking Interest Rates and if anyone could have made a case be moaning Interest Rate hikes it was you with paul voelker at the time. The rates were going up half a point a full percentage point at a time. What did you make of that and why didnt you publicly state anything . Well, i guess youd talk about when i was president. Neil when you were president. And i was deciding on whom to appoint to be the head of the Federal Reserve bank and i decided that paul voelker would be the best choice because i thought he would take steps even though it was not good for me politically, it would be good for our economy and for our nation, and so that was one of the most difficult decisions i ever made was to put paul volcker in charge. Neil do you think that cost you the election in retrospect . It was a negative factor but i wouldnt say it was the cause of the election, no. But it was the right thing to do and im glad i did it in retrospect and paul volcker since then has become a good friend of mine and he and ir both good fly fishermen, and we get together on fishing and so forth, so paul volcker has been a hero of mine economically speaking. Neil i think paul volcker said jimmy carter was the better fly fisherman, but just put that in perspective here, volcker when he came in would raise Interest Rates dramatically to sleigh inflation. When i say dramatically im not talking a quarter point or half a point. One full percentage point for a time the prime rate in the First Six Months of the Reagan Administration shot up as high as 21 , hard to believe today, former reagan economist art laffer on the legacy of mr. Volcker. You know, its incredible when you look back at those numbers what he was doing to get inflation under control. Do you think that he over did it or in retrospect did it just perfectly . I thought he did it just perfectly to be honest, neil. I thought it was great when we came in on january 20, the prime Interest Rate was 21 or 21. 5 , volcker had done a great job of targeting inflation and trying to bring it down i think it was the best single political move that jimmy carter made was to appoint paul volcker. I got involved with paul volcker in 197071 when i was in the white house with George Schultz as his assistant and at that time paul volcker was under secretary of the treasury and with ehad the camp david episode and paul volcker both opposed going off gold. He was a powerful person at the time but if with ehad done what paul volcker suggested at camp david, we never would have had the run up inflation that ended with jimmy carter and the beginning of reagan but paul volcker is chairman of the fed along with ronald regan did the greatest prosperity this country has seen in generations and he deserves equal credit with ronald regan. He was just amazing. And a very entertaining manas well, the cigars. Neil i remember that. He was a fierce figure. When you look back, art, do you see what republicans saw at the time, concern that that tightening was continuing through the early months of the Reagan Administration, and the recession obviously dragged on through 1982, republicans lost a lot of seats that year and there were a lot of people hard to believe now, who thought that ronald regan risked being a one termer because of all of that. That was the reality then wasnt it . Yeah well it was the reality a lot of people felt that way. I never felt that way. I do not think paul volcker had any effects on making the economy worse to be very serious , because it was a phase into the tax cuts that began on january 1, 1983 that really caused the economy to collapse in my opinion. Paul volcker did a master full job of bringing inflation under control and with those Interest Rates falling throughout the full eight years of reagan with the sound money inflation coming down that just really fueled the prosperity, and you know, paul volcker even after he was in the fed, i think it was 1987, Alan Greenspan replaced paul volcker as fed chairman, but even afterwards paul volcker was a Major Political influence right on up through barack obama. I mean, he did the volcker rule and all of the things. He never once gave up on policy. I mean, he started with at least with him was in 1970 in the white house and he was a masterf ul person at that time as well. I thought his advice was extreme ly good on Monetary Policy when he was undersecretary of the treasury and when then he implemented it, it really works. I just wish he hadnt been so tall. I had to lean up into the sky to get to him. Neil he was a very tall guy and you mentioned the volcker rule and his concern and he expressed this in the last interview we had some time back that banks would become too aggressive with their investment activities and the like and there had to be a way to separate that but he was always afraid that he could re visit bad things if he gave them too much power. What do you think of that . I dont think he was right on that at all. I mean, you know, when you takeaway an opportunity to make losses, you also takeaway an opportunity to make profits as well. I thought the volcker rule was incorrect. I didnt think it should be put into place, but goodness knows he argued for it really well. Neil he did. Hes got to know his stuff backwards and forwards and hes a super super contributor and he wasnt always right. He was a big tax increase eras you probably know. He thought the income tax rate should be in the 90plus. We used to joke that George Schultz was secretary of the treasury and paul volcker as head of the fed it was the perfect, perfect scenario for prosperity but switch the two. Put volcker as head of the treasury and schultz is head of the fed and we would have the worst catastrophe ever. Neil my producers will scream at me but i want your thought that ronald regan never questioned him, never berated him did he . Even behind the scenes because it had to be bothering him when this was still dragging on. He never did that did he . I dont think it bothered reagan for my recollection at all. He had a personal thing about him that made him not a warm, fuzzy person, and reagan never gotta long well with him personally and there was always this awkwardness in the relationship. Now he did get reassure pointed by reagan but they were never Close Friends and volcker never really had a president. That wasnt in his nature to be to anyone let alone a president and he wasnt, but he did a great job and Alan Greenspan, when he followed volcker did a great job too. Let me tell you the full eight years of reagan were phenomenon. Neil it was a powerful onetwo punch and it didnt hurt that you were there. The third punch the knockout was reagan. It was fun being there with all this time for the whole years. I mean volcker was a character. Neil he was. Some day ill tell you all sorts of stories. Neil this is a family show here all right . He was a personality as well as a very good bureaucrat and the nicest sense of the word. Neil he really was. All right, as are you my friend. Art laffer looking back at the life of paul volcker, 92 years old he passed away, but at the time he had a lever on the financial hands of the Federal Reserve, he changed history. Famous for when i asked him onetime, they said you dont really suck up to president s do you . He said im too tall to suck up. [laughter] oh, ho oh, ho, ho, ho you. You got me. Uh, what do you want . Ive got uh, ai robots, ive got vr goggles. I want your sled, please. No. [ chuckles ] timmy. Itd be a shame if this went viral. For those who never compromise. The mercedesbenz winter event. Whoa. He was pretty good this year. Are ready for cartridges another school year . What does cyan mean . It means cyanara, honor roll. imitates shell fire, laughs the ink daaaad daaaad im so hosed. Yeah. You are. shaq the Epson Ecotank printer. No more cartridges it comes with an incredible amount of ink that can save you a lot of trips to the store. Get ready for the deans list. Whos dean . The Epson Ecotank. Just fill and chill. Available at. Neil Elizabeth Warren made about 2 million over the course of a couple of decades doing Corporate Legal work to wall street political reporter recognize a collins shes already claimed that was the case, and is it going to hurt her campaign, what do you think . I think it depends on who youre asking and i think with some of the very far left progress ever voters it could give them reason to pause i spent a lot of time covering Bernie Sanders supporters who feel like he is the only true progressive and they pointed to some of her legal work before and said she has worked for some of the big corporations thats not anything shes hidden but the fact is shes coming out with exactly how much she was compensated is just more details i dont think it really moves the needle but if youre already questioning her and very progressivity would give them something. Neil we forget in earlier days thats what he was doing she was a high flying lawyer a very very good one and her interest included corporate interest which doesnt quite jive with the interest she has today, that changed obviously over the years but you mentioned it wont come back to hurt her. Could it be a game for Bernie Sanders if people are comparing all right whose more progressive , whose really been a corporations heels throughout their career, Bernie Sanders or Elizabeth Warren, some would conclude in that case, Bernie Sanders. Absolutely if youre a voter and looking at the two of them and you want the person the most consistent i mean Bernie Sanders what you hear today is what he was saying when he won mayor by 10 votes in 1980. You know like he is that very very progressive warren has shifted over the years and never hidden it. Were just starting to see more details but if they are progressive voters they could take this into account. Neil thank you very much, of the wall street journal their political reporter in the meantime were learning about this Inspector General report well get from Michael Horowitz into the investigation of donald trump when he was a candidate for president of the United States. According to reuters and i hope the sources the Justice Department Inspector General will be finding that the opening of the probe into the Trump Campaign advisors was legitimate , properly authorized. Now there are a lot of people who said that the things are out of political consideration in a way to prevent donald trump from ever becoming president that it was a loaded to make sure that he never was. Theres a lot we dont know from that ig report and well get details later on today but the gist of it is that it was a proper investigation, controversies and all. In the eye of the beholder more after this. What i love most about being a scientist at 3m is that im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. We are solving problems that improve lives. No, its not in my records. Youve got a lot on your plate. Deliveries. Billy, come in. Shift times. I just need to know if its there. Compliance. Can i get your 20 . For 100 drivers. Doug. Doug . And where is doug . He should be sleeping. So should you. Just because youre married to my sister, you could lose this job, billy this isnt working. Introducing samsung connected fleet solutions. With the galaxy tab active2, you can track driver shifts and timesheets and meet eld compliance, all from one device. Samsung business solutions. And meet eld compliance, all from one device. [ dramatic music ]ing ] ahhhh ahhhh elliott. You came back neil all right, down 84 points, now sprint and had tmobile are defending their merger in court today a case that could test the governments role in corporate deals, period. Deirdre bolton outside the u. S. District court house with the latest. What do we got . Neil this is an unprecedented case, because the doj and the sec, they already okay d this 26 billion merger and normally thats the last step and from that point on the companies figure it out however today is really different. There was a line around this courthouse, this morning, neil. Theres a lot of interest in this because 13 states attorneys general plus washington d. C. , essentially democratic led especially by california and new york, are a long story short, questioning the competence of the ruling of the doj and the se c. I spoke with one analyst, and he essentially said that these 13 attorneys general want to become the new kind of beat cop who are heard over the doj and the fcc. Its just a reversal of the way the things normally go so he told me that to him there were serious political overtones, of course, neil as far as consumers go there is concerns that one fewer carrier means higher cell phone costs for service. Neil back to you. Neil we shall see. Deirdre thank you, great job as always meanwhile, there is this viacom cbs merger issue and a lot of questions being asked Charlie Gasparino has more whats happening . Charlie and whether they will be sold, the biggest brands in the world, cbs, 60 minutes, sports, viacom, you name it putting them both together they were separate companies spun out as separate stocks, by the holding company, national amusement, and the media moguls entity, is now given that entity to his daughter sherry and her idea was to bring it together, three years, lots of legalness it was together last week and they had their first town hall meeting and here is the interesting thing. The new ceo of this company was the ceo of viacom before, listen , he earned it. Hes been a very good ceo for viacom and he stuck around and was a loyal player and he did well. He was asked during the town hall whether the new company the combined company is big enough to survive on its own. Does it have enough depth or breadth . It only has a market cap of 29 billion which when you look at the big players like amazon is approaching a trillion, he thinks that they do he said were big enough to survive based on our programming, we have some interesting things that were going to do in terms of presenting that program, but he also said this. A Big Tech Company should put a big check on the table, if they want to buy us. He said that. Opening and were getting this from people. Neil they are one of those that could. Charlie well listen if there was ever a for sale sign. Neil disney is a little busy. Charlie but if there was ever a for sale sign that was communicated to the world, at least to the employees at the meeting that was it. We said it equipped this, it was a joke and he smiled but make no mistake about it. He laid it out there that they are for sale at the right price. Neil who would be again the potential buyers . Charlie i surmise, apple, amazon, you know, somebody getting into content and that has the distribution means particularly the overthetop district means that would be preferable. I dont think a Big Cable Company could do it right now. Most of them like at t obviously the two big ones, at t comcast have federal antitrust issues because they have plenty of content already, i mean comcast could not merge cbs with nbc. That wouldnt fly. Neil would he get extra scrutiny from Trump White House . Charlie its interesting the political dynamic youd think cbs is very left wing. Shari redstone is very close to bob craft. He she was actually at the patriots game yesterday, bob craft is very close to trump so its interesting the line. Lets move as though theres no trump fan, cbs was always considered leftist center but the new corporate leadership now combined is much more i would say conservative than positioned neil thank you, my friend, we are at session lows has nothing to do with Charlie Gasparino right now but maybe a lot to do with the frustration that the tariff date is coming december 15 and so far no progress and even though weve made progress on usmca and reports a deal could be scored and voted on, but theyre in the middle of that impeachment hearing right now. Separately we have an update to give you on the Inspector General report coming today, with that, some disappointment for republicans, new news for democrats, all of that, after this. vo the moth without hope, struggles in the spiders web. With every attempt to free itself, it only becomes more entangled. Unaware that an exhilarating escape is just within reach. Defy the laws of human nature. At the season of audi sales event. 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About neulasta onpro. Pay no more than 5 per dose with copay card. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk neil welcome, everybody. Im neil cavuto. The Inspector Generals report on the origins of the russian probe just released. Blake burman is going through it page by page. There are some surprises in there, not some surprises in there, we are told something for everyone. We will be digesting all of that and the potential market impact, because there could possibly be one there. Well see. Meanwhile, trade talks are becoming certainly the talk of the day. What would normally get the markets going, the prospect that a usmca deal is closer than ever to being struck, would have, you know, lit them up and had them buying but the fact of the matter is the china thing, that does not look like its imminent and remember, tariffs are just six days away. If that isnt proof for you that the markets really care about a china deal over anything happening on a u. S. Canada mexico deal, there you have it. We have phil flynn following all of this. Phil, the china thing is the bigger worry, the bigger concern, isnt it . I think it is. Thats why the markets look like they are frozen after all that great data we got, the fantastic jobs report last week, the good news of a United States Mexico Canadian trade agreement. We are all waiting on that. In fact, all the different markets are giving different signals on how they are betting how this thing will play out. Soybeans, for example, are optimistic. They are going through the roof right now. They are rallying partly on the usmca deal but also on the potential for a deal with china. But some of the other markets are just taking a wait and see attitude right now. One of the things that has kind of lowered expectations and raised concerns that maybe we will see some more tariffs on some day is this report that china is going to ban all Computer Software from foreign governments on their computer, you know, in the next three years. Thats over 30 million pieces of hardware. That obviously is going to be a big hit to some u. S. Tech companies. A lot of people are saying wait a second, we have to see how President Trump reacts to this, because at the end of the day, even though we are hearing a lot of optimism from a lot of people that this deal is close, lot of people think the tariffs are going to be delayed, we have to wait for President Trump and knowing President Trump, hes going to keep us waiting until the very last minute. Neil do you think, phil, that the president will hold off those tariffs or delay them as he has in the past by saying all right, were making progress here, im not eliminating the prospect, but im pushing it back . Yes, im giving it odds, neil, im giving it 80 that he is going to delay the tariffs at this point. Unless theres another major headline that comes across the wire. We have come too far right now to push this thing back anymore. I dont think the president really wants to slow things down as we get closer, you know, to the holiday season. Right now, we are having a banner shopping season. The consumers are doing great. We hate to do anything that damages that momentum or a stock market scare at the end of the year. The beautiful thing about tariffs, as President Trump keeps telling us, they are easy to put back on. So he can delay it for 10 or 15 days and if he doesnt like the way things are playing out, he can go back there. President trumps going to tell you hey, guess what, we took a record amount of money from tariffs, 7. 1 billion last month. We all know whos paying for that. You are, i am and these guys are here. Neil i dont mind it if you are but i certainly mind if i am. Always the best, my friend. Thank you very, very much. Phil flynn following all of that. You know, the president has long argued that you go ahead and impeach me, you might as well impeach this recovery of the market. Obviously the recovery in the economy. To real clear politics associate editor, ab stoddard on whether that argument is gaining more weight than people appreciate. You know, you and i chat about th this, even when it came to the clinton impeachment, the backdrop there was a strong economy, strong markets. Im not saying he wouldnt have been impeached in the senate. That likely wasnt going to happen. It certainly helped that the backdrop was that strong. What do you think . Right. Thats why we see a majority in National Polls for the impeachment of the president , we dont in the swing states. Most voters in the middle who decide elections, though there are not enough of them, really want the congress to get back to work. They want to see trade deals, they want to see, you know, problem solving on their behalf. The economy is the best thing the president has going for him but as you were just discussing with the previous guest, the idea of these tariffs are really a threat to that, in a sense that the voters have been paying for this for a long time. They dont really believe the president when he says that china is paying for them. The market has sort of borne the burden thus far of the tariffs but the problem is the slowdown in business investment. So the president understands that if he doesnt have a trade deal and business starts to contract in terms of their investments and if it ever gets to hiring, thats going to cause a huge problem for his reelection. Not much more he can do with the fed. So thats really where hes going to continue to have to focus, but still this week, we heard from him one more time, he doesnt need a deal until after the election. I think people, i would also make the same bet that he has talked out of december 15th tariffs, but that doesnt mean that that phase one deal that we were hearing about in september is viable at all, doesnt mean that theres something on the table, and its just hard for people to feel good about that at this point. Neil you know, you look for facts and you always are painstakingly nonstop in your research here, but i go on the gut things sometimes when it comes to this trade stuff. What do you think the day of an Impeachment Vote, boom, we get a china trade deal . Thats entirely possible. Look, i think we have all been wondering what kind of deal the president will settle for. He started out with a high mandate. He had National Security as part of it, had to be had to have a mechanism for enforcement, had to have teeth. The phase one thing we were talking about in early fall didnt seem to have that. Senator grassley, chairman of the Senate Finance committee who speaks very rarely on trade, then speaks firmly, said we have come too far and given up too much to have something that isnt fair and enforceable. So that pressure to have something that isnt thin remains. So when the president says things like i dont need a deal until after the election, people critics speculate that maybe he will just panic and in a preelection moment of fear, just take an ag only deal. I dont know what an Impeachment Vote day deal would look like. But there are people that think that after all this time, and all this pain, hes going to have to deliver a deal. Those conversations with republicans remain very quiet. They sort of rarely speak up. Senator toomey just spoke again about after the imposition of new aluminum tariffs, about passing legislation to claw back authority on section 232 Tariff Authority to the congress, because he doesnt think that the president is using it properly. But i think that its hard to say that a superenforceable, comprehensive ambitious deal like the kind he was talking about at the start would just necessarily appear in two weeks on the day the house votes on impeachment. Neil it doesnt have to be the thorough deal you envision. It can be a deal that would take the attention off the impeachment at least in the eyes of the markets. I know you are in the real world, im in the market world where all these guys care about is money, money, money, and nothing would take their mind off that. Would the markets be calmed by that deal . Neil i think they would. I will disown that remark if im wrong. Ab, we will watch what happens. Just you watch, young lady. I have a feeling. Ab, always good having you. One of the best out there. Good read of all things political and economic as it turns out. Meanwhile, Inspector General report regarding the russia probe and what got it rolling is out there right now. I guess, blake burman has been following all of this, theres something in there for everybody. Right . Reporter yeah. Thats exactly the way i was going to put it. First off, just right off the top, this report has just gone live on the website of the department of justice produced by Michael Horowitz, the doj Inspector General. It is some 434 pages long. I personally have not been able to go through all of it. Let me sort of give you some headlines. It will be a little bit for both sides to pick apart and take from here on out. First off, horowitz and what democrats will be pointing to. In that report at one point, horowitz says the following. Quote, we did not find documentary or testimonial evidence that political bias or improper motivation influenced the fbis decision to seek fisa authority on carter page. This was the origination of the russia investigation as President Trump was then candidate trump. Also in this report, top fbi official jim comey, and andrew mccabe, his number two, did not act with political bias. The investigation into carter page was also properly predicated. Thats maybe what the democrats will look toward. But as far as the republicans go, this report also notes there were several quote, omissions and quote, inaccuracies in the fisa application. For example, the report identifies at least 17 significant errors of omission in the carter page fisa application. So what about going forward, what might get changed. Well, the office of Inspector General announced today that hes launching an audit to look into the fisa process to prevent future clerical errors, notice how that is labeled as clerical errors, not necessarily maybe some Bigger Movement or some bigger effort behind what went on with that fisa process at the beginning of 2016 during the campaign. The attorney general, bill barr, has weighed in just a little while ago. He said real briefly, neil, quote, the Inspector Generals report now makes clear that the fbi launched an intrusive investigation of a u. S. President ial campaign on the thinnest of suspicion. That in my view were insufficient to justify the steps taken. He says in my view. I suspect you will hear democrats today say this is the attorney general acting on behalf of the president. Neil . Neil well, it would seem then that the president , who had argued over the last week at this time that the report would be big, that it would be a big story, it didnt provide everything he wanted, but it provided some of what he wanted. So much like the impeachment hearings themselves, you know, it doesnt really seem to move the needle. Reporter i think thats probably a good way to put it. I should note that we have yet to hear from the white house here. You know, like i said, 434 pages. We anticipate reaction this afternoon. But it appears as if theres a Little Something for everyone but youre right, will this move the needle from the headlines that we are getting from those who have seen most or all of the 434 pages. It does not appear to be so. Neil blake burman, great reporting as always. Update you on a little bit of what blake burman had said regarding the Inspector General report, now had it all just gone one way and there was a cabal against the president to sort of do him in, maybe the market would be responding differently. This is not a marketmoving report. Certainly doesnt have the impact say of progress on trade, particularly with china. Or you know, whats happening on the u. S. Mexico canada front. But just to cut to a lot of gobbledygook, Michael Horowitz found there was a proper legal basis for the fbi surveilling carter page and that while they were sloppy, there was no evidence of political bias at the root of the investigation. His probe did find serious performance failures made by some agents and there was very little if any coordination between some key government agencies. If you are noticing a pattern here, something there for everyone and something that has so much there for everyone that it doesnt move the needle. In other words, if you were inclined to think this was overdone going after the president , you still feel that way. If you are of the mindset that no, this was not, theres evidence to that as well. More after this. We made usaa insurance for members like kate. A former army medic, made of the flexibility to handle whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. Usaa insurance is made the way kate needs it easy. She can even pick her payment plan so its easy on her budget and her life. Usaa. What youre made of, were made for. Usaa most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. 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One of course the ongoing impeachment hearing, a second day for the Judiciary Committee to sort out what will probably be the articles of impeachment they will be voting on in short order, we are told, maybe by the end of the week, and a full house vote that could happen maybe in just a couple of weeks. In the meantime, at the same time, we are getting the Inspector General, Michael Horowitzs report on the genesis of all of these investigations into team trump during the 2016 campaign, saying essentially the fbi acted properly when it began that investigation, said that there were sloppy things going on, lack of coordination between intelligence agencies but nothing deliberately nefarious. Of course, each side will pounce on what it wishes to sort of say how this report supports or does not support their respective causes. But again, with that report out, you know, theres going to be a lot of back and forth on that. More on that a little bit later. Meantime, its not really moving the markets one way or the other. Wasnt expected to. More the lack of progress on a china trade deal and the fact that tariffs are coming about six days from now. We will keep you posted to that. Meanwhile, netflix dominating the golden globe nominations. Three of the five nominees for best drama are the netflix film, are netflix films. Does this prove netflix is holding its own in the streaming battle and then some . To the forbes publisher. Good to have you, rich. For netflix, its yet another reminder that it is a dominant player here. Not only economically but certainly in the professional awards sense. Yeah. Moreover, netflix is part of a bigger story and that is silicon valleys long march to disrupt traditional industries. Now the movie industry has been thoroughly disrupted by the likes of netflix, amazon and others, and look, it plays the hardware trends. Flat panel screens are getting nothing but bigger, better and cheaper over time, and for sitting in a movie theater, if you are going to take a family of four, you are going to spend a hundred bucks, if you buy a Little Popcorn and drinks to go with your movie ticket. Neil there is the convenience of watching it when you want to watch it. Of course, the irishman, a three and a half hour movie, if you were not in declinclined to watn one full swoop, you are at the luxury of doing it at your schedule. Martin scorsese said dont watch it on your smartphone but many people did. It has changed the landscape of this, hasnt it . Of course its changed the landscape. I dont see anything to reverse that. 4g, going to 5g, is going to toledo fa lead to faster downloads. Movie ticket prices keep going up and the movies you see, i saw ford versus ferrari and loved it and i think that was the most recent movie i actually loved seeing at a theater in probably two years. Neil yeah. That was a very good movie. I dont know if it was nominated in the globes here. How much cachet does that give you . If you are netflix, you spend a lot of money, you dont make money, obviously, believing that you got to spend something to build something, i get that, but it does give you a little cachet, doesnt it . Yeah, of course it does. I think when you look at valuations, you look at multiples and multiples, we like to think, are based on growth and growth momentum and earnings momentum but theres a glamour factor, too. Based off of netflixs valuation, i think its 10 valuation increase off of the glamour factor of being a leader in this industry in terms of content. Yeah, its worth it. Neil thank you, my friend, very, very much. Just to outline exactly what netflix scored here, it had six nominations. Martin scorseses the irishman had five nominations. Robert de niro was snubbed at the start. The costars are al pacino and joe pesci. Scorsese, of course, i guess not a big surprise, will compete for best director. In the meantime, we have north korea now labeling the president erratic. Now what . After this. So what are you working on . Im searching for info on options trading, and look, it feels like im just wasting time. Wasted time is wasted opportunity. Exactly. Thats why Td Ameritrade designed a firstofitskind, personalized education center. See, you just oh, this is easy. Yeah, and thats oh, just what i need. Courses on options trading, webcasts, tutorials. Yeah. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well exactly. Well except now, youre binge learning. Oh, i like that. Thank you, i just came up with that. Youre funny. Learn fast with the Td Ameritrade education center. Call 8662851934 or visit tdameritrade. Com learn. 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Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. Neil what happened with the love notes . North korea is lashing out at President Trump over his latest warnings. Gregg palkott has the latest. Thats right, a war of words kicking off once again between the United States and north korea, and maybe worse. Today, a north korean official said President Trump was a heedless and erratic old man. This after the president warned on sunday in a tweet that north Korean Leader kim jongun has quote, far too much to lose in he acts in a hostile way. All this was after what is believed was a longrange missile engine test on saturday by the north. It was conducted at a site used in the past, both to launch missiles and also to test engines. The north had offered in past talks to dismantle the site. I guess not. Now things indeed have changed. The north is setting a deadline of new years for the u. S. To come up with some kind of offer in the way of a counteroffer regarding denuclearization of north korea, or it is threatening a Christmas Present for the United States and President Trump, maybe not a very happy one. Remember, the last time there was any kind of substantive talks was in june at the dmz between President Trump and kim jongun. Not too much since. Not too much holiday glee. Back to you. Neil let me ask, is any of that coming from kim jongun himself . Because they have been exchanging letters and pleasantries. Im wondering if the bloom is off that rose. He keeps a distance, neil, from doing the direct attacks. He uses, kim jongun, his vice chairman, foreign minister, that kind of thing. So theres still a little bit of wiggle room yet. In fact, he does say he hopes that President Trump comes up with something. The regime does. Or they will start calling him well, dotard and a few of the other phrases they use. There are a couple of weeks left but its really down to the wire right now, it looks like. Neil yeah. I see what you mean. Greg, thank you as always. Great reporting from london. Amazon is moving to new york. Not in quite the way that alexandria ocasiocortez says. She said saved a lot of tax writeoffs and the rest but unfortunately, the jobs we are talking about are but a fraction of the jobs they would have come had she not gotten in the way. After this. Im your 70lb st. Bernard puppy, and my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey my focus is on the road, and thats saving me cash with drivewise. Whos the dummy now . Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby if big tech is going to turn their backs on the department of defense, this countrys in trouble. That just cant happen. Neil jeff bezos, the worlds richest man. You know, essentially saying Major Tech Companies shouldnt be abandoning working with the pentagon. I think he was making a reference to Alphabet Google thing. This as amazon is now accusing the president of exerting improper pressure, those are bezos words, on the pentagon over this cloud contract that went to microsoft over amazon. Susan li has all the sordid details. Susan it was a big contract, 10 billion over ten years. Amazon complains to the federal claims court, unsealed this morning, here it is, all 100 pages of it, redacted, mind you. Theres a lot of parts blacked out. They are arguing that the awarding of the 10 billion pentagon contract for the Cloud Computing program awarded to microsoft instead because of pressure coming from the white house and President Trump himself, writing in the filing that errors in consideration and these errors, however, were not nearly the result of arbitrary and capricious decision making. They were the result of improper pressure from president donald j. Trump, who launched repeated public and behind the scenes attacks to steer the jedi contract away from aws to harm his perceived political enemy, jeffrey p. Bezos. It goes on to say, this federal claims complaint, that the pervasive errors were intended to screw amazon. Bezos, yes, he owns amazon but also the Washington Post which trump has called fake news, accusing them of doing biased hit pieces on him. Amazon is the largest Cloud Computing company in the world. They have over 45 market share. Compare that to just over 15 for second place microsoft, and amazon argues they already have contracts and experience working with the u. S. Government, including a 600 Million Contract with the cia, also working with nearly every section of defense, major section of defense, air force, army, navy, military, special ops and transcom. Amazon clearly thought they were the frontrunners for this Cloud Computing contract. But its interesting that amazon isnt the only one filing an appeal on this process. Oracle and Larry Ellison also filed one as well and they dont think that only one company should be awarded this deal. So i guess there are a lot of unhappy billionaires out there that want a shot as well. Neil susan li, thank you very much. Amazon is coming to new york city, not quite the footprint it would have had. 1500 jobs coming to hudson yards, the extreme west side of manhattan. Compared to the 25,000 who would have descended on long island city. That was blocked at the time by congresswoman alexandria ocasiocortez, who says with this win, she just saved taxpayers a whole bunch of money. What shes not telling you, new York City Council minority whip joe borelli says, is its a very different matter, different story and different numbers. Good to see you. Explain. Well, shes trying to use this moment as some sort of i told you so moment, where her ideas about government and policy are right and what we are seeing is millenial behavior. Shes taking the participation trophy, doing a victory lap and trying to make people think she had a positive impact on the people she represents in queens, and the people in new york city more broadly, and thats not what happened. We went from 25,000 jobs that amazon was hoping to bring here to 15,000 jobs that amazon was pretty much always going to be here, part of their footprint in the city neil 1500. Excuse me, 1500 jobs, part of their footprint here in new york city. Neil those i believe were preplanned anyway, prior even to the long island thing, that was in the works. Amazon is a Major International corporation. They want a footprint here. There are Certain Industries here that would benefit having a presence in this town. This was always going to happen. Neil isnt she also saying look, these gains, these jobs, dont come at any taxpayer expense, no concessions, billions of taxpayers have been pushed to make them happen. Its fair to criticize why we need to incentivize and give sweetheart deals to companies to come to a high Tax Jurisdiction like new york in the first place. But in this instance, you know, you have this microcosm of the fight of the democratic party, where you have andrew cuomo and bill de blasio acting somewhat reasonably, trying to attract business to this city and the far left, alexandria ocasiocortez, she has other colleagues in queens as well that were opposed to this. This is the battle for the future of the country. Whether we will let this fringe element be the ones who determine policy. Neil all these businesses are leaving manhattan, the high cost you know, while ive got you here, if you dont mind, this Inspector General report is out that seems to have something in there for everyone but the big headline obviously many in the media are pouncing on is there was no sort of a soupedup strategy behind this report that it was a legitimately based albeit sloppy examination that led to this investigation of team trump and the role of the russians. What do you think of how it will likely sort out . Everyone is going to find some confirmation bias within the 400 some odd pages, but you cant have a sloppy investigation when you are investigating the leading candidate for president of the United States. These are things that probably shouldnt have happened if there was going to be any error, and we do know even from this report that they did rely on the steele dossier to initiate this fisa process. That in and of itself should lead to more questions. Neil so the possibility with the house now under democratic control, that could change, who knows in the election, will anything come of this . Door they c or do they cancel each other out . Im sure republicans and democrats were hoping for a bigger news day based on this ig report. The news coming out of the impeachment hearing is just as sort of, you know, low key and sort of not there as we have seen in other hearings in the past, so i dont think this changes the mraplaying field th much. I think we will see democrats go forward. I think the testimony will happen on wednesday, is when republicans are going to actually get a chance to interview horowitz and maybe then seek out some of the information they are missing. Neil yeah. They may ask a lot of questions. Thank you very much, joe. I was looking at some news items that are coming, also on the horowitz comments here. A Watchdog Group criticized parts of the russia inquiry, again, the Inspector General horowitz, but exonerated fbi leaders including james comey of President Trumps accusations of political bias and that this was generated by political bias. Lot of sloppiness in there, lot of bad coordination between various intelligence agencies, including the fbi. But the bottom line, according to horowitz, with all that, it was done on the best of circumstances and under what it thought were legitimate reasons. Again, jump ball. Edward lawrence is looking at the jump ball around this trade news we have on the usmca, the trade deal we scored or the president and prime ministers have signed off on of canada, mexico and the United States. It was looking like a deal was close to be had. Maybe not. What are you hearing . Reporter no, no, kind of getting lost here a little bit with all this other news going on here today, but a senior democratic aide is telling me that they are studying the proposal now and no agreement to announce as of right now, which there was an agreement between the u. S. , mexico and canada based on the changes that the House Speaker nancy pelosi wanted. Now shes looking at democrats are looking at the changes of the language in there to see if it can be moved to a vote, possibly. I can tell you maria bartiromos sources are telling her that there is going to be a vote, at the minimum this week, possibly next week, and it will be finished before christmas, is what her sources are telling her. We are hearing that now democrats are looking at this, reviewing the changes that have been made with the usmca in this breakthrough that apparently happened over the weekend and today, in terms of the language. The language, though, will be finalized based on what the House Speaker says, what democrats say, im hearing within the next 24 hours or so. Again, agreement with mexico and the u. S. And canada. Now we have to get the House Speaker to agree to a ratification vote. Well see. Neil Edward Lawrence, thank you very, very much. Meantime, new details on the u. S. saudi relationship that has been shaken and stirred at the same time. Now the naval base shooting could affect business dealings going forward. Theres a pattern here that worries a lot of folks. After this. What if numbers tell only half the story . At t. Rowe price, hundreds of our experts go beyond the numbers to examine Investment Opportunities firsthand. Like a biotech firm that engineers a patients own cells to fight cancer. This is strategic investing. Because your investments deserve the full story. T. Rowe price. Invest with confidence. Ahealthmarkets comparesnt dyour current plan with. 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Call the number on your screen now. Neil all right. They are finding out more and more, the fbi investigating the Pensacola Naval base shooting that left three dead as well as the shooter, an act of terrorism. We have the latest from pensacola. What are we learning . Reporter well, the New York Times is reporting this morning that back in april, the shooter filed a formal complaint against one of his instructors, saying the instructor called him a derogatory name that left him feeling infuriated and embarrassed in front of his classmates. Meanwhile, the fbi says the shooter, 21yearold Mohammad Al Shamrani of the Royal Saudi Air force, purchased his weapon in florida legally. A federal law banning foreign visitors from acquiring firearms grants some exemptions to those with valid hunting licenses, for example, or representing foreign governments in certain official capacities. Floridas governor says washington lawmakers should reconsider some of those exemptions. Im a big supporter of the Second Amendment but the Second Amendment applies so that we, the american people, can keep and bear arms. It does not apply to saudi arabians. Reporter interviewing the shooters friends, classmates and witnesses including other saudi students who are all accounted for on base. They want to determine whether the shooter acted alone or was part of a larger network. For years, pensacola has welcomed military from allied nations to train at the naval air station. But some are beginning to question whether the strategic advantages are worth the risk. I will tell you it will be a very long time before this community, the military and the civilian community, gets over this, because we are an open, giving and loving people, and that has been betrayed. Reporter sunday afternoon, a Police Escort led three hearses on to the naval air station, as they drove by airmen in dress blues saluted the bodies of the three Service Members who died in the shooting. They are joshua watson, mohammed hatham and airman apprentice Cameron Scott walters. The bodies of the three who died were flown to Dover Air Force base where they received a dignified transfer per military custom and neil, of the eight survivors who were hospitalized, five of them have already been released from the hospital. The three remaining in the hospital are all listed in stable condition. Neil . Neil thank you very much. Well, u. S. saudi relations are facing increased scrutiny as if they werent already after this attack. To Jackie Deangelis on what this could mean for that saudi aramco ipo. Shes filling in for Charles Payne today. Jackie, case of certainly awkward timing. Jackie to put it mildly. Good afternoon. Good to see you. Of course, terrible incident taking place in pensacola and i hate to make that turn, but its hard not to because you have this aramco ipo that has been so highly anticipated. We have been talking about it for the last three or four years. Its so important to the sachud and mbs specifically. Mbs has been planning this for some time and made some concessions to make sure he could push this through, because the kingdom needs the money. They dont need it this second but they need it for the long term, especially with depressed oil prices. So one of the issues was bringing that valuation down to about 1. 7 trillion from 2 trillion. The second was saying we are not going to do a dual listing, we will just list it locally here in saudi arabia because we dont want to see the regulatory scrutiny. Does this incident in pensacola pour hot water or pardon me, cold water on to the ipo. I would basically say investors are telling me probably not. There is good appetite for this one. The president has spoken to mbs, he says investigations are taking place to correct the errors that potentially happened here and a lot of people are questioning the u. S. Approach towards saudi arabia. Maybe a little too easygoing but that was a conversation thats been happening for some time ahead of this incident as well with jamaal khashoggi, even dating back to 9 11. I want to make an interesting point and talk about opec and production for a second because something incredible is happening. In the United States, we are pumping 12. 9 Million Barrels a day. That is a new record. We keep touching new records. This as opec cut production by another half a Million Barrels. When you look at the disparity here and where we are with oil prices, this relationship is so crucial. I think the president is looking at all factors when hes talking to the saudis and talking to mbs, taking everything into consideration. Remember, the oil prices being this low are a big part of the u. S. Economic story as well. So many things to consider here but we will be watching this ipo. Huge event trading wednesday. Neil thank you, jackie, very much. See you in about 14 minutes. In the meantime, russia now banned from participating not only in the 2020 olympics, but the 2022 olympics, and the world cup. Guess why . After this. May your holidays glow bright and all your dreams take flight. Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. Here, it all starts withello hi . How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. Some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Neil all right. A trial is beginning today in an effort to block the merger between tmobile and sprint. The former s. E. C. Commissioner now counsel for tmobile, robert mcdowell, with us. Good to have you. An honor to be here. Neil let me ask you, this is over what issue here, that they would be too big . How do you describe it . I think the state attorneys general are saying that this will harm competition. This is under something called section 7 of the clayton act. Whenever a claim like that has been brought, you have had to prove the reduction in capacity, reduction in efficiency and output of this thing you are selling. In this case you are actually going to have a big increase in capacity, big increase in output. And its not only just putting together two 4g networks of tmobile and sprint but also we are at this Inflection Point with 5g which will give us exponentially more of the thing that it is they produce. I cant think of another industry where theres a perfect analogy for Something Like this which is wonderful engineers every few years give you exponentially more of what it is you produce, maybe computer chips are a close analogy, but if you can dump two times more milk on to the market next year and five times more milk over six years, whats going to happen to the price of milk . Its going to go down and maybe consumption would go up as a result. Neil but the fear was with this, i always see this combined that bigger is worse, all that, but we learned that technology itself supersedes whatever the fear of the moment is, right . Exactly. So theres more supply in the market and more supply, we can call it capacity, we can also call it efficiency, helps put downward pricing pressure. So the proxy for anticompetitive mergers is a theoretical price increase. Neil wouldnt concessions have to be made, or are they going to be made to satisfy those who feel wait a minute, these guys are going to be a juggernaut . The counter to that i guess was if they each independently go their own way, theres a good shot each of them could go out of business, right . No, actually i think tmobile will be in good shape regardless. But cant build 5g as quickly. So one of the things you are doing is freeing up about 40 billion of the sickly Balance Sheet and cost energies sickly Balance Sheet of sprint and cost synergies neil there will be layoffs, right . There will be netnet job creation. Neil but there will be layoffs before that . Actually, no. Neil you are saying no layoffs . All these predictions neil we are reporting this, you know. We are reporting live. I know. Metro pcs, that example that happened when i was commissioner of the fcc, all these dire predictions about layoffs, they increased employment there by 3x. In part this is because the big expansions into rural america, 600 new stores throughout the country, the 40 billion in capx i was trying to explain earlier can also create jobs. So all of that is going to really create this rising tide that will float a lot of boats. You will see netnet increased employment. Have me back in a couple years, call me on it if not. Neil one thing i am curious, its a different role for technology today, increasingly you hear that its more than just the technology, but that they themselves could be seekers of content and that all of a sudden, either they built it wrong or go beyond that, you heard much of the same argument behind apple and amazon, the big rich players, so where does this all go . In general, so with tmobile they bought an over the top video provider and hopefully, they are [ inaudible ]. We will look into that. So you will see a continuation i think of the marriage of connectivity and content. You will see more over the top, you may remember 10, 15 years ago there was a chairman advocating for government mandated a la carte of cable channels which whiould have beea really bad idea and i opposed that. Now you have market created a la carte, theres disney plus, theres hulu, theres all sorts of things that consumers can pull on an a la carte basis. You will see more of that. With the internet of things, too, we dont know whats going to happen. I was at the commission when we set up 4g. Nobody, the best and the brightest, predicted the app economy, uber, netflix, et cetera. So the best and the brightest now cant predict all things that are going to happen because of 5g. Its like i was talking to senator Lindsey Graham a couple weekends ago. He said is it like going from black and white to color . I said its going from 2d to 3d. Thats how revolutionary it will be. Neil is the argument with the two carriers now that it will be a lot quicker together than they would individually doing this . Particularly sprint and tmobile . You will get to the 5g future faster. Neil what is the 5g future . Its under way. Neil when . When is it ubiquitous and everywhere . Within the next three to five years. Part of the benefits of this merger is it will cause a competitive response from at t and verizon, Great American companies that are already building 5g but they will accelerate their capx for 5g because of the competitive threat of the new tmobile. Thats only if the merger goes through. Neil its different when you are looking at carriers but we know this administration has had a view that looks through the prism of their perceived political bias, whether they like conservatives, dislike conservatives. Does that come in here . Is it the kind of thing that adds another layer of scrutiny from the white house or the Justice Department . This merger itself . No. I mean, they have been in favor of it. Larry kudlow is in favor of this. Thats been public information. Also, democratic governors in kansas and elsewhere, attorney general in kansas, rather, have been in favor of it. It has bipartisan support. This hasnt been a political thing. Neil less so with carriers, right, unless they own news channels. Like competing one that begins with a c . Yes, there is that whole saga. We are not involved in that. Neil what about the backdrop of the markets . This is something a judge wouldnt take up, but the argument is here that this is a promising new technology, technologies, and that that will be something that should be fostered, not opposed. Exactly. This is something tmobile put in its pretrial memorandum which is not a brief, more like setting the scene for a movie in a lot of ways. 5g, we are at this Inflection Point, is absolutely something a judge has to look at. The added capacity in the marketplace. Thats different, again, from any other type of merger. We have never seen also a merger that was blessed by doj and Expert Agency like the fcc where you have the number three and number four player in the market be shot down. You have never seen that happen. You have never seen it happen, period. You have never seen it shot town. He has to look at that. Is this judge really going to secondguess the department of justice and federal Communications Commission and 18 state public utility commissions to say no, no, no, i know better . I dont think so. I think hes going to neil when do you think a decision will be had . Well, lets hope that not making news, lets hope theres a settlement before the trial is over but if not, then First Quarter sometime. Neil we will watch closely. By the way, teslas new truck just going for a test drive. Elon musk was spotted driving this thing. I dont know if that bulletproof glass was working but he drives very fast, by the way. I dont know if he got a ticket. After this. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Industrial averages none plouffed by developments 10 year, is really barely one way or the other obviously a lot of people waiting to see what, if anything, happens on china front you know how that goes we have Jackie Deangelis to take you through the next hour. Good afternoon i am Jackie Deangelis for Charles Payne this is making money breaking right now, the Inspector General report out finds that fbi had a legitimate reason to spy on Trump Campaign but many missteps made we are having details of all this breaking news, and kicking off the week in the red as tariff deadline looms large for investors is another shoe about to drop for these markets . Plus tmobile facing 14 state attorneys general in court, this hour defending attempts to buy sprint will this merger ever happen . All of that and more on making money