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Sessions we have all the angles of this market selloff covered for you, though but first, joining us for the hour is aerials investments director of research, Charlie Bobrinskoy here at post 9. Thanks for being here. Thanks for having me. Pulloff pulloff, correction, selloff, pullback, was this over due . Well, no, things changed today. The momentum had been wonderful around trade and people say that people spend too much time worrying about trade. I actually dont think thats true free trade is very important and people say in 1776, the most important thing written was the declaration of independence. It wasnt, it was wealth of nations by adam smith the idea that trade helps us all is something that the markets believe in and when that gets called into question, you get an appropriate big reaction do you think that it is, especially based on the comments we got from Presiden ....
Right now, ambassador lighthizer is on his way which is why it is so curious to see the story being put out by the chinese, the wall street journal, you cant reach him at this very moment but, yes and this is important because both Speaker Pelosi came on mad money, this is a done deal, once you finish the articles of impeachment and the president wants this deal, talk about david during the break, but it is the one thing people seem to agree on in washington this is a good deal. And yet the a lot of the people i follow who are you get a democrat in the white house and companies are allowed to move back south again it not that adventurous to do so because of the big increase in wages. Those of us who do business in mexico can tell you the differential is not just cash. But it is also healthcare, where they have universal healthcare and this is a story about pollution control. Where both sides are now saying both democrat and republ ....
Tea leaves boosting stocks china says trade reps are in close contact with the u. S futures do point to a second higher open. Plus, putting mergers on notice Elizabeth Warren drafteding legislation to reverse mega mergers. And a shakeup at united airline, oscar munoz stepping down president scott kirby will take over next spring we do have breaking news on gm for that we will go to phil lebeau in chicago. A busy day, phil. Reporter it is a busy day, phil General Motors announcing it is forming a joint venture with lg chem the two companies will be creating an electric vehicle battery plant in northeast ohio. It may be if lorn lordstown or outside lorsdtown where gm used to have a plant. They sold the plant earlier this year gm will invest up to 2. 3 billion into that joint venture with lg chem located near lorsdtown, ohio and create up to 1,100 new jobs this is a move many ....
You told me things were very frothy a lots happened since then. The wework had just come out. We know what happened with the wework blowup theres been this sense that you saw with the wag news. Theres been these companies have raised an extraordinary amount of money and pitching themselves as Tech Companies that really went Tech Companies. Wework was not a Technology Company. Swag not really a Technology Company, and the combination of trying to get the technology valuations on companies that shouldnt be trading that way and companies that are just raising too much money and have no financial discipline. Hopefully some of that is coming to an end but i still think valuations are going to be crazy for a while. I think, if anything, this signals the beginning ....