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Im Melissa Francis this is after the bell. There we go. S p 500 ending in negative territory. Both down 3 on the day. Fox Business Team coverage. Gerri willis is on the floor of the new york stock exchange. Edward lawrence where a lot of action was in jackson hole, wyoming where fed chief Jerome Powell was speaking earlier. Phil flynn watching action in oil and gold from the the cme. Hillary vaughn is at the white house. Well start with you. Reporter white house trade advisor Peter Navarro was on fox business this morning. He said that china continues to pay the price in this trade fight but he also said later on fox news that we have more bullets in our gun than they do. He says china exports over 600 billion to the u. S. We export about 100 billion. So he thinks tha ....
Could come as soon as tonight. Could come tomorrow. Regardless what happens, we are live this weekend on the fallout from all of this, pause what we love to be live. Just let you know, 10 00 a. M. , to noon, eastern time on saturday. The fallout from all of this. They could have a vote for a tax cut by then. Daily Caller News Foundation chris bedford, what he makes of this. Chris, very important obviously to get john mccain to be a yes. Beats a no. But doesnt mean that Susan Collins has any less reservations or host of other senators, have any fewer problems, right . I mean, how does this change things . There are still a couple holdouts. John mccain being on board backs up some of the bullish people. Ive been really surprised given the Republican Party failures that there are so many bullish people. White house ....
Government bond is attractive compared to risk in stocks right now. 283 on the tenure. Three, another problem is the internal workings of the market exotic product, robot trading up a pushing stocks to rapgd sell ising . As of now the dow is down 6. 5 so poor this week. With will open higher. Do not know how we will close or where well close. But back drop this morning is another chaotic night in congress. But we now do have a budget for the next two years. Thats not necessarily great news for investors. But bottom line on this republican budget Government Spending goes way up and so does the deficit. Again, were hearing the words, debt bomb. Varney company is about to begin. It changes so rapgdly that were going to show you futures all over again. All right we were up 100 now were up 60 youve got to watch this. Literally moment to moment. Wall street is on course for its worst week in six years. It has been a really qield ri ....
Across the globe. The now, the question is, whether the president will make good on that Campaign Promise here or could he change his mind like he changed his mind on nafta, not repudiating more like fixing it, a few moments ago saying he doesnt want to reestablish the israel in jerusalem, more like the present location in tel aviv. He is open to being flexible on this subject. And the devil is in the details. Whether he will find a middle ground on all of this. He is being pressured on both sides. Well devote next two hours on what is at stake. There is a twigs within the administration, the president is known to string people along, make them think one way, boom go the other way, like varney with the citizenship thing but that is another story. We have former Goldman Sachs senior partner, peter keirnen and democratic gift david bernstein. Lets pick what we have here. Right ....
That there could be debate over mike pompeo at cia. A lot of people looking at that, saying what does that mean, how does that compare to prior administrations. It is actually in line, with most cases, we have about a handful of cabinet members approved and ready to go as president of the United States takes office. Usually two weeks more than half the cabinet is in place. By three weeks the entire cabinet but that is not a foregone conclusion. The institutions of course remain in place. That is the crucial issue here. How all of this is weighing on stocks . Nah, not one way or the other. Most say this is going to plan. They dont see any cabinet nominations imperiled as a result. Nothing to imperil stocks. Stuart pointed this out, if it looked like, for example, mnuchin would not get the treasury post, then all bets are off here because the expectation is that all of these key positions will be approved and their nominees confirmed ....