Elon musk unveiling his latest at an event last night retail wraps up a busy week as Worldwide Exchange begins right now. Good morning, happy friday and welcome to the show. Stock futures are moving slightly to the upside the dow moving up the longest losing streak. The s p seeing the longest losing streak since september. The dow is at risk of snapping its winning streak as future gains hold, the dow would open up by about 59 points and the s p by about seven points as well if you look at the 10year, we are slightly lower on the day, about 1. 755 twoyear about 1. 597 . Japan did finish off in the green up 0. 3 . China, you can see closing up as well a half of one percent main land china up 0. 2 . In the european trade, we are seeing a little mix there. German dax up 0. 25 . Those trade tensions continue to be front and center. Chinese president saying china wants to work for a trade deal but is not afraid to fight back. Our own eunice yoon is with us put those comments in context. It is interesting this is the first time weve heard president xi jinping commenting on the interim phase one trade deal he said he does want to see something worked out but that this deal would have to be negotiated with the understanding that u. S. And china are both equals and that it is conducted with mutual respect. Some other points he made such as Henry Kissinger was that the trade war wasnt something china wanted but something china would fight back on when necessary the markets here didnt seem to be heartened as a tense relationship today, the ministry blasted the United States on another issue that is the u. S. Sending more warships into the South China Sea skirting islands, which beijing claims asits own this comes after the u. S. Congress had passed the bill seen as supporting prodemocracy activists in hong kong the other development was that he hinted at some pensions saying china wanted to ensure its financial sovereignty. This is even as china continues to open up its financial markets. What was interesting is how this is being interpreted as a signal that, yes, we are in this trade war, this tech war and maybe now soon to be in a financial war. Outside of trade, there is some expectations of major news coming out of hong kong. We know there are elections taking place there take us through that as well what is interesting there will be four Million People heading to the polls in hong kong on sunday. This election is not something for the local top leaders but actually for district elections that are normally quite local and mundane. They are expected to have record turn out just because of the back drop of the protests. They are hoping take more seats or take advantage of the current temperature of the city. But the overall seats are stacked with pro beijing loyalists. The other thing people are watching for is concern whether it will bring more protesters and violent clashes. Security is very tight and people are worried about what they might see a lot of people are worried if the clashes get too bad, the elections could get suspended. Plenty of analysts say that would even enflame the protests even more. Thank you so much joining us now, a cnbc contributor. Larry, we just heard eunice talking about some flash point issues in china and hong kong. We know the markets in the u. S. Are still hovering near record highs. Is this a scenario where the World Economy and market is all con continuent on what happens in the United States think about it, 12 years ago, everybody was talking about what was called decoupling. There was problems in the u. S. And globally, there was strength now it is the opposite problems globally, strength in the u. S. , strong dollar. I think that will happen in the next six months. Big, big trade a rebalancing of the Global Economy. Where the Global Economy strengthens relative to the u. S. And capital that will flow so if this is the case, how important is what is happening in hong kong with china and the tensions there going to play into this narrative overall. Is this a scenario where you could really see the down side event trigger globally it is really going to trigger a problem in the u. S youve got senators and congressmen taking the wheel out of the white house hands President Trump trying to do a trade deal net net the pressure coming from congress and Democratic Candidates there is this effort to lay the hammer down. That creates uncertainty for the u. S. Markets one of the reasons why the fed did take the actions and cut Interest Rates three times the Interest Rate environment is still supportive of what is happening in regard to the United States. If not, what needs to happen and where could we see some flash points there you and i were talking about a year ago i made the point that beast in the market was going to break the fed over its knee. Credit risks was really rising thats what happened the fed not only caved onra rat cuts theyve undone about 400 billion of that. Here is the thing, everybody says dont fight the fed how many times have you heard that i have a question for you and people watching now, why are people in the bond market especially in the junk of junk bonds, why are they fighting the fed . The First Time Since lehman wen down, you have bonds in high points one final point here. I can understand what you are saying about the general tone of the bond market and the high yield. But those are only in certain parts. Generally speaking, take a look at the etf that attract highyield debt. Is this really a scenario where we think the credit markets are signaling something bad ahead . We saw this in 2007 there were pockets of risk one by one by one, as they grew. It was a credit spread contagion. Just in the past month, this was moved from tightness, loans now dipping into single bs they had to cave on the balance sheet. The ability to finance bad assets and all of the problem with wework. Right now, this is the most important part of the interview. We are seeing underperformance of u. S. Banks cds. It is starting to widen, that tells you, it is some type of credit contagion spreading through. Thank you for joining us. Lets look at some other top stories. Tesla ceo elon musk unveiling the all electric pickup truck dubbed the cyber truck unveiled in l. A hard angels and sharp lines there, will start under 40,000 and will have a top range of 100 miles on a single charge also watching, apple reports demands for the air pods pro is shocking higher than expected people familiar with the plans reportedly say apple expects shipments to double adding that demand is straining supply chain capacity and xerox giving hp an ultimative threatening to go hostile unless the Company Agrees to pursue a friendly combination. Hp had turned down xeroxs offer saying it, quote, significantly undervalues the company. When we come back, President Trump holding key talks on the future of federal vaping administration and well talk to someone who has an inside glimpse. And pure pain, why these shares are falling off a cliff. Later on, casting out a Federal Reserve independent will be there. A very busy hour Worldwide Exchange will return nivan three years in a ro. The van just talked. Sales guy, give em the employee price, then gimme your foot. Handsfree sliding doors, stow n go seats. Can your car do this . Man, yall getting a hook up and yall dont even work here. Dont act like im not doing yall a favor. Yall should be singing my praises. Pacificaaaaa with employee pricing, get 4,107 below msrp plus 1,000 bonus cash plus 0 financing for 60 months on the 2020 Pacifica Limited doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. What are you doing back there, junior . Since were obviously lost, im rescheduling my Xfinity Customer Service appointment. Ah, relax. I got this. Which gps are you using anyway . A Little Something called instinct. Been using it for years. Yeah, thats what im afraid of. He knows exactly where were going. My whole body is a compass. Oh boy. The my account app makes todays Xfinity Customer Service simple, easy, awesome. Not my thing. A live shot of our nations capita capitol. It is a hot spot right now new york city is moving forward with plans to ban sales of e cigarettes as today, President Trump will hold court over the usage of youth usage you name them, all the groups are expected to be there today one group that has curried favor is groefr norquist the group had an editorial out banning favored e cigarettes might cost trump the reelection. Joining us now, director of strategic initiatives, paul blare. I got to say when i saw the headline there, i thought how could vaping really swing the election why is this such a key issue for President Trump . A great question. For viewers who are either not smokers or never used e cigarettes, it might sound really weird that this could be a key issue either in 2020 or in state or federal races in 2016, when we first conducting polling among adults, we found three out of four adults who use the product three out of four of them were single issue voters. Their vote moving issue was where a politician stood on access to vapor products that poll has been advocated showing essentially the same thing. More than 80 of the adults when use these are singleissue voters we have data from the fda and cdc that shows at least 13 million American Adults use these. When you add up the number of adults who feel deeply passionate to using these because theyve been able to transition away from cigarettes to lower risk alternatives in a state like michigan where President Trump won by less than 700,000 votes and there are over 400,000 who use these, it is an issue especially in swing states could have a major impact on the outcome next year. Fair enough i understand the adult usage issue. The issues around the vaping epidemic have centered not around the adult side of things but around teen usage of these thats the reason President Trump has turned his attention to this. How does that play out because teen usage is a key issue here it is important to note usage fell at the largest decline at the American History 28 . It is certainly important to look at what teens are experimenting with the problem and the question is do we focus on the experiment at the cost of restricting adult access there are products applied that could address the teen use question you already have to be 18 to buy these. Senator mcconnell is pushing to raise that to 21 that is endorsed by the president as recently as two weeks ago. There are a push to restrict marketing to make sure there arent silly brands or the use of cartoons and silly things like that. Those are all reasonable restrictions the government can place on these without removing them from the market it is important to focus on teen experimentation but it cant come at the cost of adult access lets talk about whether we can button this up here. We talked about the number of stake holders that will be present at this particular meeting, are they going to be able to address the numbers the cdc puts out with the increasing number of deaths and illnesses tied to vaping when the center for Disease Control still doesnt know what is causing all the illness. A meeting provided the clarity in this space. They found all of the cases they tested products where individuals got sick or an individual using a product ended up passing away. They found vitamin e acitat. That is an additive in marijuana or cbc it is not flavored e cigarettes. It is marijuana and thc products people get from friends on the black market and drug dealers. It took a while to get there it is an important issue to address. It goes to the issue of conflating the use of two different products and overrating one industry because of a misconception about the use of one paul blare. Following those closely. Still on deck, breaking silence about his public dispute with taylor swift. And baby yoda may be the next hot holiday item it is trending when you shop small you help support your community from after School Programs to the arts so become a regular, more regularly. Because for every dollar you spend at a Small Business, an average of 67 cents stays in the community. Join me and American Express on Small Business saturday, november 30th, and see how shopping small adds up. Nongmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Step up, please. Empty your pockets. Looks like youre all set for that business trip. Youve got your smartphone, laptop, your other smartphone. Woman is this all the devices you have . Your tablet. Seriously . Smartwatch, your backup tablet, and. Woman anything else in your bag . 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Lets get a check on some of the stocks on the move today good, bad and ugly sharz of Shoe Carnival moving higher reporting growth of 3. 5 in the Third Quarter and raised the 2020 earning forecast and those shares up 12 premarket then the bad, williamssown oklaho sonoma dropping. Those shares off 5 . Now the downright ugly of the morning, pure storage, those shares cratering more than 20 after the Data Storage Company not only reported disappointing q 3 earnings but the forecast for the revenue picture as well. Those shares have lost almost a quarter of their value a look at the mornings top stories following a dramatic rescue after an explosion inside a car. All caught on camera elf. But natures bounty has innovative ways to help you maintain balance and help keep you active and wellrested. Because hey, tomorrows coming up fast. Natures bounty. Because youre better off healthy. Nongmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Welcome back to the show. What is happening now in the future market. The dow up 58 points and implies the open if these future points hold the futures will open up making headlines outside of the world of business today. House lawmakers are heading home after a dramatic close to this chapter of the impeachment inquiry. Wrapping up with the testimony from former National Council fiona hill President Trump is looking ahead. Officials tell nbc news, he met with republican senators to discuss impeachment strategy an investigation of how two air men died in oklahoma two tallons went off the runway while landing. One of them was upside down. The military is expected to identify the two airmen that were killed later on today a connecticut man is hailed a hero after rescuing a stranger from a burning car the video captures the moment the vehicle burst into flames which may have been started by a burning cigarette. The balance in the same spot at the same time and rushed the driver to the hospital to be treated for burns. The hidden deals that may be hiding in one red hot sector and microsoft gets the okay to do business with huawei and moves they are making to halt those. That story coming up announcer todays big number, 2. 94 million thats how many pickup trucks were sold in the u. S. Last year. The top seller, the Ford F Series sundown vitamins are all nongmo, made with naturally sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. He borrowed billions donald trump failed as a businessman. And left a trail of bankruptcy and broken promises. He hasnt changed. I started a tiny investment business, and over 27 years, grew it successfully to 36 billion dollars. Im tom steyer and i approve this message. Im running for president because unlike other candidates, i can go head to head with donald trump on the economy, and expose him fo what he is a fraud and a failure. The haves and have notes. We are breaking down a stark contrast a rocky rollout as tesla suffers an on stage snaffo and breaking his silence music manager speaks out over the public feud with taylor swift as Worldwide Exchange rolls on welcome back to the show thank you for being with us here on the show. Here is how your money looks as we are half way through the 5 00 a. M. Eastern hour. The dow down three days in a row. The s p seeing its longest losing streak since september. The s p would open up by about seven points if these gains hold into the opening bell. Trade tensions front and center for investors. President xi jinping saying china wants to work for