Transcripts For FBC Mornings With Maria Bartiromo 20171103 :

I want to also have a bill on my desk hopefully by thanksgiving if thats possible, kevin and i said everybody in this room standing by me and well add others as we sign. Who are working to give the american poem poem a jiept tax cut for christmas. Were giving a beautiful present. Breaking down what the overall tax plan means for you and your money this morning. Jobs in america the october jobs report is due out 8 30 a. M. This morning were all on it analysts are expecting 310 jobs created in the month o of october with Unemployment Rate Holding Steady 4 and a quarter ahead of the report look at futures right now. Indicating a higher open for broader average the momentum goes on. Dow industrial is expected to be up about 35 points. Nasdaq up about 20 points thats the start third a percent higher on nasdaq. European i understood coos and gains across the board s p up quarter of a percent. Dax index and in paris fractionally higher. Had a pretty good market roongtly and best performer up almost onehalf of one . And then theres this President Trumps twitter deleted. A rogue twitter employee causes uproar yesterday are after they took down the commander in chief favorite outlets for 11 minutes last night. 11 minute outage the chaos over 140 characters or less and democratic disgrace former dnc chairwoman down in brazil alleging last year primary was, in fact, rigged against Bernie Sanders. In favor of Hillary Clinton, the details as President Trump labels it illegal and unfair. X marks spots for long lines anyway a physical lovers around the world in a friend subsidy the latest as excitement is up. All of those stories coming up this morning and joining me to talk about it alling megyn mcdowell and president ny kourtney here on this jobs friday. Good to see you look forward to getting your fake on jobs. It is interesting today for sure, with lots to cover. For sure. Down in brazil said Everybody Knows this guy is blue. Thanks for the heads up. Like we knew this. [laughter] you gave Hillary Clinton a debate question. Like maria youre right i thought no kid when i saw that as well. Only and then the tax bill, of course, and i can sum it up in one word. Senate where it goes. And i guarantee you a lot changes. Maria road to passage is about the senate coming up this morning join ugh is texas congressman weighs and Means Committee chairman. Kevin brady is with us to walk us through the plan, and lee is with us this morning former nbc chairman and Suzanne Wright Foundation Chairman bob wright will joins us as well. Couple of hours ahead you dont want to miss a moment and kick it off right now going to washington where house o republicans rolled out their plan to overhaul the country tax code lay out most extensive rewrite in more than 30 years three decades gop loaders and President Trump touted plan as a boom for middleclass and businesses as well. With this plan were making progrowth reform so yes america can compete with the rest of the world and also making it so that families like these that are here can have more takehome pay. Nine in ten americans can file using a postcard style system lowering the rate detecting more dollars you earn making sure you have strong palace relief. But its more than that. Were not just putting higher octane fuel in old clunker of a tax car. We proposed to drive a newer tax car that can compete to win against any country in the world. Motion americans will be tiebl file taxes on a single sheet of paper what do you think about that kevin. Are you still there . Or going to be a paper and a half . [inaudible conversations] [laughter] had 429 panel bill cuts down from 35. Cutting rate for socalled pass through businesses to 25 American Companies bringing cash back from overseas would face a one time 12 tax rate. On the individual side income brackets qowb collapsed from 7 to 4. Beginning at zero and then 12 , 25 , 35 , and 39. 6 . Which is what we expected. It all calls for doubling of the standard deduction repealing minimum tax and increasing tax credit and limiting state accident tays to property taxes capping that benefit at 10,000. It also cuts in half a lot of details here Dagen Mcdowell your reaction. Good on the corporate side, and the wall street journal second this is. That its a mess on the individual side. And thats a much of what we expected. That on the individual side my criticism is and the journal hits this in editorial today is that when you have about half this country paying, no income tax whatsoever, to the federal government this plan on four individuals is going to make that worse. It is going to redistribute even more income and i do see a plan that gave in to the shaming of the left wing class warrior in the people who said that you couldnt cut taxes for the wealthy it is with that youre keeping 39. 6 bracket remember a 3. 8 Investment Income tax put in for obamacare which republicans failed to repeal. But i think on the business side this is big time growth. For the u. S. Economy. I think youre right on that 20 . One of the biggest bug bugaboos they didnt limit that is key point. Carried interest tax rate really benefits the wealthy. It benefit hedge fund manufacture so thats a big issue and gary cone promised that he said were boing to address that numerous times over this year. So well have to see if senate goes back to that because one of the things that is going to have to be addressed is on the individual side. You are you know democrats come out to talk about how certain middleclass families are going to get an increase especially because the state and local Tax Deduction beg eliminated as well and the alternative minimum tax code come out pretty strong so up to the senate. I think you have to look at the plan in entirety because yes you do see certain portion of the things tax increases only if you look at just individual rates, and elimination of that deduction. Yeah also want to put in there elimination of the amt. Which hits some of those which is somewhat of an offset. They also raise child care tax credit to 1600. But again to my earlier point theyre making slowly will make more of that refundable so again, its income distribution. Youre going to have more american who is pay no federal income tax. And thats great for people for the individuals. But if you know you look at the overall financial problems of this country youre putting the burden of funding the the entire federal government, our military on fewer people in in nation. I think that thats a mistake. And youre also talking about lowering taxes for people who dont pay taxes because we know highest earningers pay much and bullied in materials of not moving on the rates. Mples refundable means that the 40 of the basically half of american who is dont pay any net income tax 40 actually get money back from the federal government im not talking about a tax refund they get money refunded. So its essentially tax welfare. That percentage based on this plan as it stands right now will go up. One of the things, though, i think will really drive some growth with the Corporate Tax cuts is kind of the cascading effect of employers being be able to kind of loosen so be able to start pay more and it will become much more competitive for companyies to find talent ultimately because they have some more money to invest in their companies theyll start spending more money they have to compete for talent and going to drive wages up. So across the board i think we could see ultimately some wage movement. Which will then drive consumers spending so yods think theres a great cascading effect for the individuals seeing wages move in the right direction because of that Corporate Tax code. I think corporate rate here is one of the most powerful of this plan. And i want to point out this with this situation eliminating that deduction. Overtime, overtime it wont happen overnight but overtime this will put pressure on governors and mayors to lower taxes because right now theyve just got freerange because they know theyve got deduction for their people in terms of leaving tax where it is because why because people will move out. I mean thats what will happen you heard peopled yesterday they said a max exodus out of new york you know what there might be. People will move and governors will be on pressure to lower taxes. It will be held accountable especially for not giving essential gods and service ises going up. Are roads Getting Better and no and were going to have representative here hes actually said hes a no vote on this. House can only lose 22 votes. There are 33 republicans in the house that represent the 9 states that benefit from the state and local Tax Deduction so 30, they can theres the math is against them if people come out against this. I want to point out something i said about the senate. You know, just having discussions with friends, the senate bill is not going to look like this. I i watch or for the senate to phasein the Corporate Tax rate cut. Thats a loser thats a loser right away. Even raise Corporate Tax rate buzz youve got the 20 for corporation and then nearly 40 for top earning americans, that margin is too wide that disparity is too wide in the eyes of some people thats something to look out for. The bill lets hope they dont it shall senate could still mess this up. They can still mess this up. I was not going to use expletive but they can foul it up like they did in obamacare repeal. Real quick on jobs good number better than 300,000 getting it in two hours. Look like it is very strong all of the mists are predicting stop are saying 325, 350. So 340,000. What i was going to ask you where are jobs so thats what were looking at. Because audience want the to know where are the jobs thats what im asking you later on lets take a break when we come back rig ared a new book from form o or dnc chair down in brazil reveal she found proof that democrat primary was rigged tip to favor Hillary Clinton those details ahead. And then weve got to wait a few hours here in the u. S. But apple pa gnat eggs in australia with their iphone x in their hands and becoming trillion Dollar Company incredible. Stock is up 3 right now. Back in a moment. Alerts wouldnt you like one from the market when it might be time to buy or sell . With fidelitys realtime analytics, youll get clear, actionable alerts about potential Investment Opportunities in real time. Fidelity. Open an account today. Fidelity. It can detect a threat using ai, and respond 60 times faster. It lets you know where your data lives, down to the very server. It keeps your insights from prying eyes, so theyre used by no one else but you. It. Is. The cloud. The ibm cloud. The cloud thats designed for your data. Ai ready. Secure to the core. The ibm cloud is the cloud for business. Yours. Maria welcome back isis is claiming responsibility for the terrorist attack that left 18 dead and 11 others injured. Thats right in the Islamic State latest statement the group called Sayfullo Saipov for the anden known if they directed attack. Saipov appears to be a lone wolf attacker. Well tmobile and springt trying wonings again to make their proposed personaller a reality but journal reporting that two companies are working to salvage the potential blockbuster deal. This latest development coming just day after sprints chairman appeared to call off the tacks after unable to agree on the terms. Tmobile share have been under pressure over the past week sprint also down. Over o the past five trading days, so these are, obviously, stocks watch today. As this news broke late yesterdays. All right, the title of former fbi director james comey revealed it called for book a higher loyalty truth lie and leadership, theres the book cover combmy testified before congress that President Trump had scdz for his loyalty the former fbi chief also tweeting yesterday i hope there are pictures. And congressional testimony comey did say you may remember lordy i hope there are tapes so kind of connected to that. This refers to a tweet by the president about possible recordings of the private meeting together. Combmy book we should say scheduled to couple out next may. And okay, thursday night football, the new york jets continue to surprise everybody they man handled Buffalo Bills 34 of 21 making them 45 in a season many predicted they would go winless during the win snapping three game losing streak keeping their slim playoff hopes alive in afc. Bills dropping to 53 remain ahead of the jets. But it looked like the far and team in this one for the game. Good football last night maria those are your headlines. President trump silenced on twitter yesterdays. A twitter employee deleted their account on the last day or for work. It was out for 11 minutes now tiffany is selling coffee cups jewel is rei maker puts an expensionive twist on everyday items. You have to see this. Back many a moment here. Betty called me at she thought it was a fire. It was worse. A sinkhole opened up under our museum. Eight priceless corvettes had plunged into it. Chubb was there within hours. They helped make sure it was safe. We had everyone we needed to get our museum back up and running, and we opened the next day. And im the founder of ugmonk. Before shipstation it was crazy. Its great when you see a hundred orders come in, a hundred orders come in, but then you realize ive got a hundred orders i have to ship out. Shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everythings pretty much done. Its so much easier so now, were ready, bring on t. Shipstation. The number one ch of online sellers. Go to shipstation. Com tv and get two months free. Naand millions morex seniors falive in isolation. Hunger, lola america, lets do lunch. Narrator drop off a hot meal and say a quick hello. Volunteer for meals on wheels by donating your lunch break at americaletsdolunch. Org. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Welcome back iphone x hitting stores today take a look at these pictures right here. Apple enthusiasts is have lined up for the debut including here in new york city. These are live pictures it is follow the companys Fourth Quarter Earnings Report last night and apple beat expectations with adjusted with 2. 07 a share. And revenue joining us right now is associate founder, roger kay good to see you thanks so much for join us so were looking possibility first trillion Dollar Company in terms of apple would you buy this stock today . Would you i will i . I guess the answer is i would. Because you think theres more value to be gained . Even though it is gone up so much. Yes, it has gone up so much. But you cant look backward you have to look forward, and what it look like is going on now is that apple has regained its momentum. And its got certainly a great ramp for next few months probably the next few quarters. L the iphone x is break through, and a lot of enthusiasts as you can see in lines are lining u up for it. So looks like pretty clear sailing for next few quarters to me. We have a kevin are we going to get production delays they going to be able to keep up with the demand theyve got to have the products on the shelves. To sell it. One of the biggest issues were facing with apple is dependent on iphone 66 of the revenues come from it and trying to diversify that base especially when it comes to with a watch and it doesnt have to be tethered to your phone you have also the issue with china. China is a big problem for them. Thats had the next leg of growth tim cook has said it himself. So we have to see sales go there because theyre number four producer they keep losing market share over there because phones are so expensive. Go ahead. I was going to ask rorminger go ahead but is it too late because it seems like just the phone that theyre put out to prevent samsung from eating its market share. maybe theres subtilty heres this is the first phone apple has oled screen thats a high saturated beautiful screen by the way samsung makes among other venders but using itself in the galaxy. So samsung was first in oled but one thing with the facial recognition plus that to give impression of a futuristic experience. Other people havent been doing this so there are there is facial recognition entry out in other devices i have a dell that does it. As a computer, but they dont work quite as well as apple does and so apple has made this capability something that actually works that people might use instead of a pass word in old way of doing things so theyre forward looking, yes theres some supply constraint there with the iphone 10. But that just means that there will be sol slight delay in revenue recognition and not that it will be attenuated yes china is very competitive and the chinese are often price sensitive but theyre also stat is us conscience i think apple will sell a boat load of iphone xs over there. Sounds like it roger great to have your insight roger kay joining us there fake a look at moments from the program. We had a great week. Terrorism in new york city to report a man plowed a truck dun a bike path on manhattans lower west side. New york is a target. We have a statue of liberty in our harbor who hold a torch that says freedom and democracy and that is repugnant to a whole group of people. Who want to knock that torch down they are going to come and we will stop most of them. Right. But ultimately point is you cant let them win. Governor let me switch gears to talk about tax reform package buzz youve been vocal on this. Plan is diabolical and divisive now have a Unemployment Rate<\/a> Holding Steady<\/a> 4 and a quarter ahead of the report look at futures right now. Indicating a higher open for broader average the momentum goes on. Dow industrial is expected to be up about 35 points. Nasdaq up about 20 points thats the start third a percent higher on nasdaq. European i understood coos and gains across the board s p up quarter of a percent. Dax index and in paris fractionally higher. Had a pretty good market roongtly and best performer up almost onehalf of one . And then theres this President Trump<\/a>s twitter deleted. A rogue twitter employee causes uproar yesterday are after they took down the commander in chief favorite outlets for 11 minutes last night. 11 minute outage the chaos over 140 characters or less and democratic disgrace former dnc chairwoman down in brazil alleging last year primary was, in fact, rigged against Bernie Sanders<\/a>. In favor of Hillary Clinton<\/a>, the details as President Trump<\/a> labels it illegal and unfair. X marks spots for long lines anyway a physical lovers around the world in a friend subsidy the latest as excitement is up. All of those stories coming up this morning and joining me to talk about it alling megyn mcdowell and president ny kourtney here on this jobs friday. Good to see you look forward to getting your fake on jobs. It is interesting today for sure, with lots to cover. For sure. Down in brazil said Everybody Knows<\/a> this guy is blue. Thanks for the heads up. Like we knew this. [laughter] you gave Hillary Clinton<\/a> a debate question. Like maria youre right i thought no kid when i saw that as well. Only and then the tax bill, of course, and i can sum it up in one word. Senate where it goes. And i guarantee you a lot changes. Maria road to passage is about the senate coming up this morning join ugh is texas congressman weighs and Means Committee<\/a> chairman. Kevin brady is with us to walk us through the plan, and lee is with us this morning former nbc chairman and Suzanne Wright<\/a> Foundation Chairman<\/a> bob wright will joins us as well. Couple of hours ahead you dont want to miss a moment and kick it off right now going to washington where house o republicans rolled out their plan to overhaul the country tax code lay out most extensive rewrite in more than 30 years three decades gop loaders and President Trump<\/a> touted plan as a boom for middleclass and businesses as well. With this plan were making progrowth reform so yes america can compete with the rest of the world and also making it so that families like these that are here can have more takehome pay. Nine in ten americans can file using a postcard style system lowering the rate detecting more dollars you earn making sure you have strong palace relief. But its more than that. Were not just putting higher octane fuel in old clunker of a tax car. We proposed to drive a newer tax car that can compete to win against any country in the world. Motion americans will be tiebl file taxes on a single sheet of paper what do you think about that kevin. Are you still there . Or going to be a paper and a half . [inaudible conversations] [laughter] had 429 panel bill cuts down from 35. Cutting rate for socalled pass through businesses to 25 American Companies<\/a> bringing cash back from overseas would face a one time 12 tax rate. On the individual side income brackets qowb collapsed from 7 to 4. Beginning at zero and then 12 , 25 , 35 , and 39. 6 . Which is what we expected. It all calls for doubling of the standard deduction repealing minimum tax and increasing tax credit and limiting state accident tays to property taxes capping that benefit at 10,000. It also cuts in half a lot of details here Dagen Mcdowell<\/a> your reaction. Good on the corporate side, and the wall street journal second this is. That its a mess on the individual side. And thats a much of what we expected. That on the individual side my criticism is and the journal hits this in editorial today is that when you have about half this country paying, no income tax whatsoever, to the federal government this plan on four individuals is going to make that worse. It is going to redistribute even more income and i do see a plan that gave in to the shaming of the left wing class warrior in the people who said that you couldnt cut taxes for the wealthy it is with that youre keeping 39. 6 bracket remember a 3. 8 Investment Income<\/a> tax put in for obamacare which republicans failed to repeal. But i think on the business side this is big time growth. For the u. S. Economy. I think youre right on that 20 . One of the biggest bug bugaboos they didnt limit that is key point. Carried interest tax rate really benefits the wealthy. It benefit hedge fund manufacture so thats a big issue and gary cone promised that he said were boing to address that numerous times over this year. So well have to see if senate goes back to that because one of the things that is going to have to be addressed is on the individual side. You are you know democrats come out to talk about how certain middleclass families are going to get an increase especially because the state and local Tax Deduction<\/a> beg eliminated as well and the alternative minimum tax code come out pretty strong so up to the senate. I think you have to look at the plan in entirety because yes you do see certain portion of the things tax increases only if you look at just individual rates, and elimination of that deduction. Yeah also want to put in there elimination of the amt. Which hits some of those which is somewhat of an offset. They also raise child care tax credit to 1600. But again to my earlier point theyre making slowly will make more of that refundable so again, its income distribution. Youre going to have more american who is pay no federal income tax. And thats great for people for the individuals. But if you know you look at the overall financial problems of this country youre putting the burden of funding the the entire federal government, our military on fewer people in in nation. I think that thats a mistake. And youre also talking about lowering taxes for people who dont pay taxes because we know highest earningers pay much and bullied in materials of not moving on the rates. Mples refundable means that the 40 of the basically half of american who is dont pay any net income tax 40 actually get money back from the federal government im not talking about a tax refund they get money refunded. So its essentially tax welfare. That percentage based on this plan as it stands right now will go up. One of the things, though, i think will really drive some growth with the Corporate Tax<\/a> cuts is kind of the cascading effect of employers being be able to kind of loosen so be able to start pay more and it will become much more competitive for companyies to find talent ultimately because they have some more money to invest in their companies theyll start spending more money they have to compete for talent and going to drive wages up. So across the board i think we could see ultimately some wage movement. Which will then drive consumers spending so yods think theres a great cascading effect for the individuals seeing wages move in the right direction because of that Corporate Tax<\/a> code. I think corporate rate here is one of the most powerful of this plan. And i want to point out this with this situation eliminating that deduction. Overtime, overtime it wont happen overnight but overtime this will put pressure on governors and mayors to lower taxes because right now theyve just got freerange because they know theyve got deduction for their people in terms of leaving tax where it is because why because people will move out. I mean thats what will happen you heard peopled yesterday they said a max exodus out of new york you know what there might be. People will move and governors will be on pressure to lower taxes. It will be held accountable especially for not giving essential gods and service ises going up. Are roads Getting Better<\/a> and no and were going to have representative here hes actually said hes a no vote on this. House can only lose 22 votes. There are 33 republicans in the house that represent the 9 states that benefit from the state and local Tax Deduction<\/a> so 30, they can theres the math is against them if people come out against this. I want to point out something i said about the senate. You know, just having discussions with friends, the senate bill is not going to look like this. I i watch or for the senate to phasein the Corporate Tax<\/a> rate cut. Thats a loser thats a loser right away. Even raise Corporate Tax<\/a> rate buzz youve got the 20 for corporation and then nearly 40 for top earning americans, that margin is too wide that disparity is too wide in the eyes of some people thats something to look out for. The bill lets hope they dont it shall senate could still mess this up. They can still mess this up. I was not going to use expletive but they can foul it up like they did in obamacare repeal. Real quick on jobs good number better than 300,000 getting it in two hours. Look like it is very strong all of the mists are predicting stop are saying 325, 350. So 340,000. What i was going to ask you where are jobs so thats what were looking at. Because audience want the to know where are the jobs thats what im asking you later on lets take a break when we come back rig ared a new book from form o or dnc chair down in brazil reveal she found proof that democrat primary was rigged tip to favor Hillary Clinton<\/a> those details ahead. And then weve got to wait a few hours here in the u. S. But apple pa gnat eggs in australia with their iphone x in their hands and becoming trillion Dollar Company<\/a> incredible. Stock is up 3 right now. Back in a moment. Alerts wouldnt you like one from the market when it might be time to buy or sell . With fidelitys realtime analytics, youll get clear, actionable alerts about potential Investment Opportunities<\/a> in real time. Fidelity. Open an account today. Fidelity. It can detect a threat using ai, and respond 60 times faster. It lets you know where your data lives, down to the very server. It keeps your insights from prying eyes, so theyre used by no one else but you. It. Is. The cloud. The ibm cloud. The cloud thats designed for your data. Ai ready. Secure to the core. The ibm cloud is the cloud for business. Yours. Maria welcome back isis is claiming responsibility for the terrorist attack that left 18 dead and 11 others injured. Thats right in the Islamic State<\/a> latest statement the group called Sayfullo Saipov<\/a> for the anden known if they directed attack. Saipov appears to be a lone wolf attacker. Well tmobile and springt trying wonings again to make their proposed personaller a reality but journal reporting that two companies are working to salvage the potential blockbuster deal. This latest development coming just day after sprints chairman appeared to call off the tacks after unable to agree on the terms. Tmobile share have been under pressure over the past week sprint also down. Over o the past five trading days, so these are, obviously, stocks watch today. As this news broke late yesterdays. All right, the title of former fbi director james comey revealed it called for book a higher loyalty truth lie and leadership, theres the book cover combmy testified before congress that President Trump<\/a> had scdz for his loyalty the former fbi chief also tweeting yesterday i hope there are pictures. And congressional testimony comey did say you may remember lordy i hope there are tapes so kind of connected to that. This refers to a tweet by the president about possible recordings of the private meeting together. Combmy book we should say scheduled to couple out next may. And okay, thursday night football, the new york jets continue to surprise everybody they man handled Buffalo Bills<\/a> 34 of 21 making them 45 in a season many predicted they would go winless during the win snapping three game losing streak keeping their slim playoff hopes alive in afc. Bills dropping to 53 remain ahead of the jets. But it looked like the far and team in this one for the game. Good football last night maria those are your headlines. President trump silenced on twitter yesterdays. A twitter employee deleted their account on the last day or for work. It was out for 11 minutes now tiffany is selling coffee cups jewel is rei maker puts an expensionive twist on everyday items. You have to see this. Back many a moment here. Betty called me at she thought it was a fire. It was worse. A sinkhole opened up under our museum. Eight priceless corvettes had plunged into it. Chubb was there within hours. They helped make sure it was safe. We had everyone we needed to get our museum back up and running, and we opened the next day. And im the founder of ugmonk. Before shipstation it was crazy. Its great when you see a hundred orders come in, a hundred orders come in, but then you realize ive got a hundred orders i have to ship out. Shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everythings pretty much done. Its so much easier so now, were ready, bring on t. Shipstation. The number one ch of online sellers. Go to shipstation. Com tv and get two months free. Naand millions morex seniors falive in isolation. Hunger, lola america, lets do lunch. Narrator drop off a hot meal and say a quick hello. Volunteer for meals on wheels by donating your lunch break at americaletsdolunch. Org. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed<\/a> across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Welcome back iphone x hitting stores today take a look at these pictures right here. Apple enthusiasts is have lined up for the debut including here in new york city. These are live pictures it is follow the companys Fourth Quarter<\/a> Earnings Report<\/a> last night and apple beat expectations with adjusted with 2. 07 a share. And revenue joining us right now is associate founder, roger kay good to see you thanks so much for join us so were looking possibility first trillion Dollar Company<\/a> in terms of apple would you buy this stock today . Would you i will i . I guess the answer is i would. Because you think theres more value to be gained . Even though it is gone up so much. Yes, it has gone up so much. But you cant look backward you have to look forward, and what it look like is going on now is that apple has regained its momentum. And its got certainly a great ramp for next few months probably the next few quarters. L the iphone x is break through, and a lot of enthusiasts as you can see in lines are lining u up for it. So looks like pretty clear sailing for next few quarters to me. We have a kevin are we going to get production delays they going to be able to keep up with the demand theyve got to have the products on the shelves. To sell it. One of the biggest issues were facing with apple is dependent on iphone 66 of the revenues come from it and trying to diversify that base especially when it comes to with a watch and it doesnt have to be tethered to your phone you have also the issue with china. China is a big problem for them. Thats had the next leg of growth tim cook has said it himself. So we have to see sales go there because theyre number four producer they keep losing market share over there because phones are so expensive. Go ahead. I was going to ask rorminger go ahead but is it too late because it seems like just the phone that theyre put out to prevent samsung from eating its market share. maybe theres subtilty heres this is the first phone apple has oled screen thats a high saturated beautiful screen by the way samsung makes among other venders but using itself in the galaxy. So samsung was first in oled but one thing with the facial recognition plus that to give impression of a futuristic experience. Other people havent been doing this so there are there is facial recognition entry out in other devices i have a dell that does it. As a computer, but they dont work quite as well as apple does and so apple has made this capability something that actually works that people might use instead of a pass word in old way of doing things so theyre forward looking, yes theres some supply constraint there with the iphone 10. But that just means that there will be sol slight delay in revenue recognition and not that it will be attenuated yes china is very competitive and the chinese are often price sensitive but theyre also stat is us conscience i think apple will sell a boat load of iphone xs over there. Sounds like it roger great to have your insight roger kay joining us there fake a look at moments from the program. We had a great week. Terrorism in new york city to report a man plowed a truck dun a bike path on manhattans lower west side. New york is a target. We have a statue of liberty in our harbor who hold a torch that says freedom and democracy and that is repugnant to a whole group of people. Who want to knock that torch down they are going to come and we will stop most of them. Right. But ultimately point is you cant let them win. Governor let me switch gears to talk about tax reform package buzz youve been vocal on this. Plan is diabolical and divisive now have a Republican Party<\/a> who says were going to tax the taxes you pay. Its double taxation. See a mass exodus of people in new york because you basically eliminating that state and local deduction which would ultimately mean a tax increase. It might be and of course im from texas so i would say we would welcome even to texas where we have no personal income tax. Lets let business grow and get reward put people to work thats what had its all about and we dont need our foot wet lets create a tax environment thats good for not only pus but the world. Has potential to not only one grow the economy but to grow u. S. Jobs. And to lower tax rate to put in something for repatriate to go to a territorial system. Im very optimistic ping it can have a Significant Impact<\/a> on again growing our economy and get more jobs. All of this about Paul Manafort<\/a> and taking the oxygen out of room for other important issues now this has been exposed you see all of this slimy politics involved you see all of the lobbying how they skirt the rule and how this group recently piloted its fire registration people see whats going on. They dont like it so they dont have a choice but to, in fact, it. Pnches could be very well that invents described in the indictments so proceed the campaigning nothing to touch donald trump there was unwanted pressure on the white house. Ifman formality were not somebody who had been the Campaign Advisory<\/a> nobody would have looked at his tax reform or filing they were just trying to get him to squeeze him and get him to sing. The problem is, sometimes witnesses not only sing they compose. If youre going to commit a crime always mitt it with somebody more important than you. So you can turn them in and they cant turn you in because thats the way the game is played. Boehner says it is always about that. Im surprised he supported me in become the chairman but i think things changed when i became chairperson a expectation that you hand over your voting card and you get in line and do everything they want. Good luck to the decision to enter the Wonderful World<\/a> of politics. Im looking at making a difference in the live of American People<\/a>. Any advice . Friends dont let friends run for congress. This is a piece created from a carat raw diamond, found in africa tell us about this specific features here. An incredible, incredible stone. The largest deflawless u brought to auction. Nintendo switch a con sewel to play anywhere with anyone we raised our Global Forecast<\/a> from 10 Million Units<\/a> globally to 14 Million Units<\/a> our divorce focus making sure that the games are great. Smg going ton a nintendo hall day. Pneumococcal pneumonia is a potentially serious bacterial lung disease that in severe cases can lead to hospitalization. It may hit quickly, without warning, causing you to miss out on the things you enjoy most. Prevnar 13\u00ae is not a treatment for pneumococcal pneumonia. Its a vaccine you can get to help protect against it. Ain, redness and swelling at the injection site, limited arm movement, fatigue, headache, muscle pain, joint pain, less appetite, vomiting, fever, chills, and rash. Help protect yourself against pneumococcal pneumonia. Ask your doctor or pharmacist about prevnar 13\u00ae. I enjoy the fresher things in life. O. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest. Prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices. From over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. Welcome back that friday morning. Happy friday here. Your top stories right now. 6 30 a. M. On the east coast. For allowing the Clinton Campaign<\/a> to hijack the Clinton Campaign<\/a>. The Dnc Democratic National Committee<\/a> rigged the democratic election. To take it away from bernie and give it to Hillary Clinton<\/a>. The new revelations on how she sabotaged Bernie Sanders<\/a> in the 2016 primary. An employee goes rogue and takes down a President Trump<\/a>s account for 11 minutes. Jobs in america. Economists are expecting it to show 310,000 jobs were added to the economy last month. Mark is a smiling rally. Indicating a gain at the open of trading. That is a third of a higher. In europe the major indices are also showing gains of this morning. Japan was closed for holiday. The other majors as you can see mixed. House republicans roll out their ambitious plans to re vamp the tax code. Reducing the corporate rate. Hershey debuts its first new flavor. The former intern dnc they dropped a major bombshell. In a tellall piece of the politico. Brazil describes how the Clinton Campaign<\/a> signed a financial agreement of the dnc which allowed her to use money to control the direction of the party. I told bernie i had found that joint fundraising agreement. Have i known this i never wouldve accepted the in term share position. The primary process was rigged. Watch this. Got to putogether the democratic party. Do you agr with the notion that it wasigged. Good to see you. What do you make you make of all of this. The clintons have been lying to the American People<\/a> for decades now. They try to frontload the primary. It backfired on them. And theyve been they been playing these kinds of games. Where is the accountability. Heres what he have to say. That is a big story what youre saying. Is a legal number one and it is really very unfair to Bernie Sanders<\/a>. I thought it was terrible. The issue here in my view is when you look at all of the tweets from the president. With the 140 dollars. Seventy other so many other things. How can the president has set ask the Justice Department<\/a> to look at what is clearly lawlessness. To launch into criminal investigation. And how that all plays out. I think he speaks of the mind at the American People<\/a> on this. And we have to head faith in the Justice Department<\/a> that they will take a look at these issues. With the shifting of campaign funding. They were fundraising for state and other parties it was all been funneled back. Then was used to fund the fake dossier. Is not necessarily illegal i cant say that. But when you look at the funding of the fake dossier hiring of foreign agents those are some serious things. The funding of the dossier i dont think it was disclosed on the Campaign Finance<\/a> forms. This was kind of lost this week because of the horrific terror attack in new york city where Hillary Clinton<\/a> was on the daily show earlier this week and actually talked at length about the funding of this dossier. She essentially said while, the lawyer representing the Clinton Campaign<\/a> paid. He knows whats legal. She is accusing the Trump Campaign<\/a> of doing something illegal but essentially fesses up to this dossier and says putting together Opposition Research<\/a> is not illegal. It was kind of astonishing to the links that she went to talk about this because it could be we dont know any details and it looks like collusion from the outside. Shes asking for the Justice Department<\/a> to look into and quite frankly there asking for Robert Mueller<\/a> to look into it. Everyone needs to understand that with the democrats they have the whole super delegate system as well. There were a lot of underpinnings of that were happening during the convention that really was impacting the Clinton Campaign<\/a> Bernie Sanders<\/a> said consistently the cards were stacked against him. The party knew it. Little did he know how much it was stacked against him. It was stacked against them from the inside. Its incredible to me the push against this president from within his own government but then there is everybody else. The media and then theres twitter. The most watch twitter account goes down. He shut down the present account for 11 minutes. Naturally same to our investigation we have learned that this is done by twitter Customer Support<\/a> employee. Twitter is having a rough week. If to assume that there are some safeguards in there. In Twitter Twitter<\/a> you wouldve thought to yourself who actually has access to not just the president or Vice President<\/a> but many highprofile celebrity public figures that can just go in there. You really had to take a look at the internal security. I had been harassed by people from the left online and horrific ways and when i when i report those accounts they dont do anything about it. I think it goes to a lot of the social media companies. It is just almost unpalatable this could happen. What about the fact that this could be twitter basically saying look mister twitter we are in charge. I think its very plausible. Or talking about access to information and especially when were talking about social media. During the campaigns donna brazil was working with cnn and she gave Hillary Clinton<\/a> a debate question. You have them all coming together to slay their influence. I think it will be interesting to see if President Trump<\/a> takes action on twitter that they could allow his account to be taken down twitter is coming out satan as a Customer Service<\/a> person they didnt tell the truth that was her first a First Response<\/a> either they didnt have a handle on it where they now and didnt accept. In their apology was more than hundred 40 characters. Does a tax plan look different once the senate gets involved. Both chambers will put their stamp on it. Does it meet the president s standard of cutting middleclass attacks is taxes and encouraging job growth there will be things that will be giveandtake in both chambers on both sides. Im confident it will be a very merry christmas. Shares under pressure this morning after that coffee giant fails with estimates. Hi, im mindy kearns. Its great to finally meet you. Nice to meet you too. Your parents have been talking about you for years. Sorry about that. Theyre all about me saving for a house, or starting a college fund for my son. Actually, i want to know what youre thinking. Have a seat. Knowing that the most important goals are yours. Multiplied by 14,000 Financial Advisors<\/a>, its a big deal. And its how edward jones makes sense of investing. Listen up, heart disease. You too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies, and data without insights. And fragmented care, stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. At optum, were partnering across the Health System<\/a> to tackle its biggest challenges. Welcome back the markets have momentum once again. Fifty points on the Dow Jones Industrial<\/a> average. We are waiting on the jobs number and that will certainly set the tone for markets in less than two hours. We want to look at brought it come. The president announcing yesterday that the plan alongside the ceo of the 100 billiondollar Semiconductor Company<\/a> it said it will relocate to delaware. Once Shareholders Approve<\/a> that deal. Its expected to bring in 20 billion of annual revenue back to the United States<\/a>. They are up more than 50 yeartodate. Starbucks streamlines the taz ot brand. It will sell it to unilever and the shares this morning and on two and a half percent in the premarket have to do with earnings. More Sexual Harassment<\/a> charges against actor kevin spacey. Cnn is reporting that a current or previous house of cards employee that has prompted the publicist to drop him as a client. Production has been suspended. The decision was made to suspend that production. One airline wants to wait more than just your luggage. The airline said it so they can study to see if that data they are using to calculate fuel and safety is accurate. The city will continue through the spring but if you want to do it get on the scale before you get on the plane. The items start low 25 but then there is a 650 dollar there they are. A 9,000dollar ball of yarn there is that all the way up to a pair of sterling silver candlesticks for 70,000. They are even selling a 2,000dollar piggy bank. And then get ready hersheys first new candy bar is set to hit shelves. It is a caramelized cream bar. There is a stock. Hersheys is up 3 yeartodate. The way in the passengers issue i had been on flights where the planes were overweight and they have to remove passengers happen particularly in bad weather. They move people around and then people that dont travel as much get very frustrated. It is for safety. She was like taking photos of people. Coming up the new movie with must sell action. It might be the one for you. The bad moms are back already raking it in at the tax office. You owned your car for four years. You named it brad. You loved brad. And then you totaled him. You two had been through everything together. Two boyfriends, three jobs. Youre like nothing can replace brad. Then Liberty Mutual<\/a> calls. And you break into your happy dance. If you sign up for better car replacement\u2122, well pay for a car thats a model year newer with 15,000 fewer miles than your old one. Liberty stands with you\u2122. Liberty mutual insurance. Big thinking in the finger lakes is pushing the new new york forward. Were the number one dairy and apple producers in the eastern United States<\/a> supported by innovative packaging that extends the shelf life of foods and infrastructure upgrades that help us share our produce with the world. All across new york state, were building the new new york. To grow your business with us in new york state, visit esd. Ny. Gov whentertaining us,es getting us back on track,hing . And finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing Xfinity Mobile<\/a>. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. That was a clip from thor regular rat. Joining me now is the chief film critic. Its funny in the lot more in the vein. You will be laughing. And this time thor does save the world again he gets thrown into a prison where they shave his head he will be a gladiator that type of thing. Its really a lot of fun and hope that makes a huge appearance. You like it but what about bad moms christmas premiering on wednesday but not enough to hold a box office. You are expecting to be laughing all the way. Its not a wrong come. I like the first one. Disney reportedly demanding the new star wars movie a 65 percent of ticket sales revenue. Will the demands turn theater to the dark side. They made stocks go down. By means of greedy they will take the first four weeks generally they make most of their money on popcorn. They are not can actually have the kind of money to give a bigger cut to disney off the bat. I do get will make a ton of money. The theater if you dont put it in your biggest screen they take even more. I think theaters will start to rebel. It suspended production after an actor with a recurring role suffered an offset injury. No word yet on who the actor is. What do you know. They havent said who the actor is. I dont think it will affect the radiance or anything. Things are not like they used to be. Do you think this will get popular. Especially today. They always talk about whats going on in the world. Present trump just tweeted this. I guess the word must finally be getting out and having an impact. Has he been telling you a twitter employee decided to just shut the president s twitter account down. We will take a break and be right back. The smart ones look to fidelity to find them. We give you research and datavisualization tools to help identify potential opportunities. So, you can do it this way. Or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just 4. 95 per online u. S. Equity trade. Fidelity. Open an account today. Hold over 6 trillion. 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Payment terms for reverse mortgages are extremely flexible. You can pay as much or as little of the reverse mortgage as you want each month. You can even pay nothing, and still remain in your house indefinitely. Reverse mortgages are very similar to a Home Equity Loan<\/a> or line of credit. Too many Seniors Today<\/a> are in real danger of outliving their savings. In fact, 80 of retirees wealth is tied up in their homes. An fha reverse mortgage helps you access that wealth. Over the last 20 years, millions of americans have trusted lendingtree to help them find the best deal on their mortgage. Now, let us help match you to fully fha regulated lenders for your reverse mortgage. Just go to lendingtree. Com, or call now to find out how much you could receive for retirement. Lendingtree. When banks compete, you win. Happy friday morning everybody. Thank you so much for joining us. It is friday november 3. Your top stories right now 7 00 a. M. On the east coast. They debut their highly anticipated legislation to overhaul the tax code yesterday. It includes four brackets and it drops the Corporate Tax<\/a> rate to 20 . Present trump praise the plan. We will provide a massive tax cut for american families. Will make it simpler and fear. Its calle simple vacaon. We will restore o Competitive Edge<\/a> on a single sheet of paper. We are breaking down what the overhaul means for you and your money coming up this morning. Its due out and about 90 minutes from now. 310,000 jobs were added to the economy but the Unemployment Rate<\/a> expected to hold steady at 4. 2 percent. The markets are rallying this morning. That is at the opening of trading. The similar tone this morning. One quarter of 1 . In asia over overnight stocks are mixed at the close. The other major indices as you see me sleep higher. The ball continues fall continues this morning. It was the first worst performer this year. Now a shareholder is suing the company for what its calling unacceptable quarterly results. Who on the board will step down. Iphone more like i wait. They brave online to get their hands on the highly anticipated iphone ten. Talk about the Building Blocks<\/a> for a great night. We will tell you about it. All of the stories this morning. Great to see you. On job say. No major changes. We have a lot to talk about this morning. They are unveiling the details of the biggest overhaul of the tax code in over 30 years. Its focuses its focus is on the middle class. Watch. This plan is for the middleclass families who deserve a break. Our plan also means more peace of mind. To spend more time with your kids or maybe your aging parents. This is about tax cuts its about america first. Not only well america grow we will show the rest of the world how to lead. The plan is called the tax cut and jobs act. It simplifies individual income tax brackets. The top individual tax rate would stay at that 39. 6 but it pushes the end come rate up to 1 million. And join me right now to talk more about it is kevin brady. Mister chairman congratulation to you. Weve been working on this a long time. It is exciting. Everybody is fired up about changing the broken tax code. And you had been leaning in on this issue and the challenge for a long time. Lets talk about what we might hear in terms of differences here. I want to dig deeper into the details but in terms of passage are you expecting major changes from the senates version when it comes out. Is that in the next couple of days. My understanding is that we will be in the next few days i think here is a good news. With present trump we drew the same targets in this unified framework early in the fall. We are writing all of us to that framework. Can there be some differences. We call our bill tax cuts and jobs because that is exactly what we achieve in this. What can a kind of behavior you expecting from Business People<\/a> now that you see a 20 Corporate Tax<\/a> rate. As a 20 Corporate Tax<\/a> rate. What is the behavior of businesses and how does that lead to growth in jobs. Every business is going to know that they can invest more with that limited expending. When they make a decision they know its competitive. They can bring those straight it dollars in back to the United States<\/a> from overseas. And when they compete and when they go forward. The tax rate to bring it back to zero. We expect very strong response from our local businesses wherever they are competing. We voted for one company one company that is going to move its headquarters down here. May still have the pushback on the left. I want to ask about the state and local Tax Deduction<\/a> elimination. That seems to be where one of the fights is happening. Democrats came out strongly against this bill. This is where a number of democrats said yesterday. Written in the dark to be raced through congress before it is understood it raises taxes on the middle class millions of middleclass families across the country. And borrows trillions from the future. This plan, is a tax burden that ought to be on the backs of the wealthy and the biggest corporations but instead it drops its squarely on the backs of the middle class. Andrew, joined me yesterday. What you want to say to that. Let me quote the washington post. It is simply not true in the American People<\/a> get this. When you lower the tax rates when you simplify the code so much so nine out of ten americans are filing on a postcard style system is missing from the current tax code. They get that. The other thing they know their paychecks have been stuck flat for a decade. I think eight at a ten americans say Congress Needs<\/a> to tackle tax reform and many of them say their lawmaker needs to work with present trump to get this done. I think there is a disconnect between democrats up here in washington and well dash make real people back home. Yesterday we have a Real Estate Developer<\/a> on. He said there will be a mass exodus out of places like new york because people are going to recognize they dont have that deduction anymore they will pay more in taxes and they will be putting pressure on their governor. Do you think over time this will put pressure on the local legislators and the governor and the mayor to actually stop spending. Theres no question that pulls it back. I will make two points about this. When you got the economy going state and local revenues took off. There will be more than enough money to fund the services and secondly if you look at states like new york most of their tax contributions are because they are an economic engine. That mass energy that comes from the state of new york under this growth a bill you will see more investment and more growth and so with people leaving that state will be because the taxes are simply too big a burden for them as a family or business but from a Growth Perspective<\/a> they are in the center of a very positive energy Going Forward<\/a>. If you are a new yorker he said my tax rate is 53 because im in to be taxed under the 39. 6. Why would i pay 53 and new york when i can move to florida and pay 25 percent. Right now it strikes me as the fox eager to guard the hen house. We are trying to lower taxes and maria this is what we know. Because of the standard deduction doubling the lower tax rates. New yorkers are seen tax relief in this bill we want to deliver that. We want people to keep more of their money regardless of where they live. What is up in our state. The other day when he was with me on the show made a point. He suggested that this is payback for not voting for donald trump. I would say those taxes in new york had been high for an offer long time. This is really about fairness in simplicity and growth and making sure that the people can lower taxes. People really appreciate that washington wont punish or reward you. There is an editorial in the journal this journal this morning thats pushing back on this plan. It saying its not a breakthrough reform. The journal is admitting that it is a progrowth business plan. It sells that it lacks growth. We wish we could say it repeats the reg reagan reform of 1986 it is enclosed. Is marred by an individual tax that makes that part of the code even worse than it is now. They are referring to these four brackets keeping 39. 6 percent. The reagan reform is really about lowering the topper rate. All of those hidden punishments when you succeed and grow. Is not from your salary is from your investment in the local business. My only request would be a look underneath those. I know that lee selden may be a no. Do you have the votes without them. We have not quit and given up working with these lawmakers. That is a fair one. We really achieve that with the high tax states. Its important. As a cynic to go around that. Or maybe that changes. I certainly hope so. Giving rid of that creates hundred 40,000 new jobs in america i think thats worth doing. Yesterday the president said he wants on his desk by thanksgiving. Were on that timetable right now. Everybody is asking why the Justice Department<\/a> and the fbi are not looking into all of this is honesty. What about the deleted emails. People are angry. They must do what is right and proper. Apple fans finally getting their hands on the iphone ask. A house made entirely of a legos. How you can win and night for free. Welcome back the iphone ten hitting stores today. The enthusiast around the world lining up for the debut of the phone. Deirdre bolton is live in new york city. Good morning to you. These are all the people who preordered the iphone ten. If they preordered they are supposed to have a pretty quick pick up once again the store. This is another whole story. Even about a hundred people at least a hundred people since yesterday morning keeping out the mild weather helping out a little bit. This is a big bet for apple. And of course there has been these questions about supply and demand they are saying yesterday in the Earnings Release<\/a> we will see about managing supply and demand. The big question is well there be enough for the Holiday Spending<\/a> time. Im able to get my hands on one right here. There is no home button. If the entire screen here. Maria, back to you. No buttons at all. Its all touched on. Touchtone. What about the facial recognition. We tried a few of the people who are here. I cant quite do that yet. It seems to be working for them. The question really is at this price point. Will people pay a thousand dollars they contribute for more than half of apples revenue. A lot of analysts say if these lines are any indication of demand the fiscal Fourth Quarter<\/a> will be there as well. Deirdre bolton is in new york this morning. Would you pay a thousand dollars for this phone. No im not. I dont need to do a kitty face. This phone is so critical to them because were seen at the refresh cycle is not two years this contributes to higher margins. They will make so much more money there. If you want the latest and greatest. I want to wait and see what people toss about first. The phones i dont stink. I am in the apple world. I cant get out. Im trapped. They unveil their longawaited bill. How it could affect you straightahead. I will speak with the Suzanne Wright<\/a> foundation. About his new initiative in the healthcare field. Back in a moment. Big thinking in the finger lakes is pushing the new new york forward. Were the number one dairy and apple producers in the eastern United States<\/a> supported by innovative packaging that extends the shelf life of foods and infrastructure upgrades that help us share our produce with the world. All across new york state, were building the new new york. To grow your business with us in new york state, visit esd. Ny. Gov welcome back the fall of General Electric<\/a>. They worked to turn things around. They post quarterly results. They closed the floor before 20 per share. Joining me exclusively is the former chairman Suzanne Wright<\/a> Foundation Chairman<\/a>. Also joining me as a founder and former director of good to see you both. We want to talk about your work in just a moment. You and i are both veterans and alumni i certainly did when i was working there as well. What is your take on what has happened to General Electric<\/a> in this performance. This is horrible. Down to 35 this year and the longest bull market we have ever had. If you are an investor this may be an opportunity that you may not see in the future. This is a worldclass piece is a business power, Generation Oil<\/a> and gas and then have aircraft engines. They will not go away. Their number one in those areas. They have to rally around those businesses a second private plane flying next to his. What a waste of money. Someone texted me the other day the entire board should step down right now should they be stepping down given this performance . I dont think its because of that. After all of this time in trying to get a whole new face. I dont know whats happening with the software and of it. That was the whole reason to go to boston. I think thats happening but it will be behind some of these other issues. Its an opportunity for some. And for others we cry a lot. You had tapped the great dr. Lang to help develop the major healthcare initiative. We must build technologies to cure disease. Diagnose disease with a single drop of blood. It communicates directly with the brain. How, how can we do this. The Health Advanced<\/a> Research Project<\/a> agency. Tell us about the agencies. What can you address in terms of medical challenges that we face today. I think what we can do is leverage some of the remarkable people and research thats artie going on in the United States<\/a>. In a timely manner. This is a key thing. Efficiency and accountability. The agency that came from was a defense agency. They obviously applications there are for national defense. What were talking about in the cures for the diseases were talking about building capability into science. And so what you want to do is take additional knowledge. And this is just supported by the u. S. Taxpayer and build that into a timeline driven milestone driven approach. That would allow efficient translation of this work into capability. And thats what we want to do. These are all capabilities. Thats what you proposed to the white house. People have said to me what a great idea what we do this 20 years ago. The fact of the matter is it is a wonderful idea. And they know how to do it. He knows everything about darpa. He was also a senior person. That was one of his projects. The amount of time and effort in the kind of people that came in. Hundred different contractors. Your initiative code purple honors your late wife. Suzanne wright was an incredible person. There is no reason why we cant. Then we have a mechanism where you can attack Early Detection<\/a> for us. 85 percent of the people that are diagnosed are stage iv. There is no hope for them. If we could get just 10 improvement in that. Thats 5,000 people that would be saved. Right off the bat. This is the most dangerous of all of the cancers that has the highest mortality rate. Ninetyone and half die. Very quickly. Let me ask you where you see the biggest opportunity in terms of making change. We have seen some Real Movement<\/a> in fighting cancer. Where are we in the fight right now. The good is that there are brandnews brandnew approaches. There is no one area that is a specific area that is great. Theres only 500 treatments. How many of them are cures the diabetic does not want to be a better treatment. How important is the technology in all of this. It is great. Milestone driven. In any news on alzheimers are alts. There is a lot of hope in the early research. This is all going to require translation into capability. Youve done so much. Thank you for that. Great to see both. We will be right back. To stay right with us. Fidelity, where smarter investors will always be. Maria well back good friday morning thanks so much for joining us. Im maria bartiromo. It is friday, november 3 your top stories right now 7 30 a. M. On the east coast. Jobs in america, the october jobs report due out about an hour economists looking for job growth 310,000, month october, Unemployment Rate<\/a> expected to hold steady, 4. 2 , markets rallying again futures higher ahead of numbers up 44 points on dow industrials up, up 20 points on the nasdaq ahead of the report, in europe, this morning, once again, weve got a firm i err tone earnings are driving the story, of course, we also have ecb this week european markets higher across the board dax best perform in journey up a quarter of a percent, in asia overnight, markets mixed japan closed for a holiday, but hang seng, kospi higher. Rolling out tax reform House Republicans<\/a> unveil ambitious plan to revamp the tax code i spoke to legislature architect house ways and Means Committee<\/a> chairman a kevin brady a few minutes ago what to expect. This is good news, this President Trump<\/a> the house introduce you same target in this unified framework early in the fall both riding all of this to that frame as house can we beat difference on this sure i think we are going exactly same direction, and we call our bill tax cuts and jobs that is exactly what we achieve in this. Maria highlights dropping income brackets from 7 to now 4, reducing koert tax rate 20 , we break down changes for you and your money coming up this morning, a popular only newsroom shuttered after employees voted join a union joe ricketts decided to shut down dna info and fp the childhood dreams hebrick bybrick a homemade entirely out of legos. Become one, firsthand look at technology, to unlock your can you inniner jed hi. Knowledge could up this morning, the news half an hour right now jobs in america, we are about an hour awith ai from doeb jobs report, we are expecting two things, about rebound and recovery, expertsing predicting employers added more than he 310,000 jobs in last month, after shedding 33,000 jobs month before, economists looking for unemployment to stay at 4. 2 . Joining us right it now president sten pomboy ied tweeted you are our favorite economist you speak the truth. My goodness you have an appetite for are luof them gu. But rious analysis. Tell us where we stand about in Economic Growth<\/a> the fundamental story out there. Well, the expectation, is 300,000 plus, which you know you got to i can at a an average of this and apply, and that puts you you around 150,000 that is pretty much in line with the way we have been running it so far this year, which as we talked about, before kind of isnt keeping with this general slowdown, in Economic Activity<\/a>, that has been in place basically, since the feds took its foot off gas 2015. So weve seen a growth peak in 2015, personal consumption in 2015 unemployment ploeth peakeding 260,000 a month slowing since then. Do you see a firmer tone for the economy 3 with, 3. 1 g consecutive better employment you mentioned tax revenue consumer are you bothered by what you see or feel things are better. Even with two quarters 3 plus he grow he go to we are still coming up at 2. 3 on a year on year basis, again, is not keeping with general slowdown since 2015, where ground breaked peaked 3. 8, from 3. 8, 2. 3 consumption from 4 to 2. 6 not falling out of bed wheels are not coming off but slowing expect that year nine of the recovery. So i think the question now is we do have some headwinds, in the form of the credit krieblth has corroded cycle ver concerned, bank cd almost recessionary pace in terms of growth and now the fed tightening he into that, soees this are headwinds that tax reform has to overcome a high i about a are to jump. One of the things we are going to look at jobs number wages the problem we have seen labor shth ma get tighter and tighter and tighter especially, 4. 2 , but hasnt adequat he equated into higher wages can see see wages go up it has taken toll on fed higher wages lead to healthy inflation we havent got inflation targets we wanted. Headline labor indicators make it looked like he market is turning we were talking about before, you do have clearly you know, a struggling to fill jobs, out there, but the wage numbers dont seem to be he resting that in terms of what i see on tax being receipts, collections are slowing you see state and local level having trouble balancing budgets income tax receipts so low. So it is a puzzle i think you are right, you know a problem for the fed in terms of trying to achieve federal law ising inflation target i guess the question what is quality of jobs we are creating right now you believe, not super high quality jobs skrz. Maria low paying. Exactly. That is one of the things we were talking about before was just reinforce the move certainly my company about 90,000 temporarys out working every week on a yearoveryear basis, we have really seen ep especially he jobs, so it has been more the hourly worker, but some of that has not lined up, i always expect to see more, in the bls report on hourly wages, and i feel like there is a disconnect because if interest the front lines in market, we are seeing wages move in the right direction were seeing the tight markets, but to your point on the tax receipts other things numbers dont point to that, so what do you think the disconnect is there . I mean i think, highlights the per i will say looking at averages especially to consumer youve got a high end doing well a low end that is increasingly distressed look at delinquency right numbers across the board at you loans. Neither worth record highs Unemployment Rate<\/a> lowest in 16 years. There is not a lot of wiggle room Savings Rates<\/a> dropping. To a new low. Maria with what about tax plan is is that going to help republicans debut highly anticipated legislation to overhaul the tax o code on individual side incoming brackets from 7 to have a rate of 12 25, 35, 39. 6 corporate side republicans believe this is progrowth part 20 corporate race us what kevin brady chairman of house ways and means said. First every Company Every<\/a> business is going to know, that they can invest more with that unlimited expending they know when they make a decision they are competitive whether on main street around the world this they will know they can bring dollars back to United States<\/a> from overseas more importantly, whether they compete Going Forward<\/a>, the tax rate to bring it back and invest is zero so we expect very strong response. What do you think will we see response the economic story improve as a result of tax plan. My concern is that there refusing to cut taxes on high end i know politically incorrect to say that. Dagen not on this program, because we dont buy into this the language is class war. I know, i think, you should not because numbers dont bear this out, not only high end pay the bulk of taxes you do bulk of spending so if you want to drive marriageal Economic Activity<\/a>, youve got to cut tax rates on people who are spending the money, the top 10 of income tax payers. 7 0 . Pay over but they represent more spending than blom 5 bottom 50 paris top 10 spend as much as bottom half if not tax on this Consumer Spending<\/a> if you are not going to say Consumer Spending<\/a> my i problem with Corporate Tax<\/a> cut greet but Corporate Tax<\/a>es were not impediment, lack of consumer demand was impediment unless we juice consumer demand i dont know why we are going to see a huge increase on corporate doing jobs in america top of the hour 8 00 a. M. Eastern where jobs are we with a will tell you stay with us. Six in the morning. She thought it was a fire. It was worse. A sinkhole opened up under our museum. Eight priceless corvettes had plunged into it. Chubb was there within hours. They helped make sure it was safe. We had everyone we needed to get our museum back up and running, and we opened the next day. When youre close to the people you love, does psoriasis ever get in the way of a touching moment . If you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. Taltz is proven to give you a chance at completely clear skin. With taltz, up to 90 of patients had a significant improvement of their psoriasis plaques. In fact, 4 out of 10 even achieved completely clear skin. Do not use if you are allergic to taltz. Before starting you should be checked for tuberculosis. Taltz may increase your risk of infections and lower your ability to fight them. 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Well Truck Drivers<\/a> trying not to fall asleep at wheel teamed up with Brazilian Company<\/a> toen have drivers, being senses head movements wakes driver up with a sound also with vibration not quite ready ford looking for a partner to kind of refine get it to market, shares of ford slightly higher in premarket up more than a quarter , okay, then if you thought that finey houses were cool get ready for lego house, about airbnb giving one lucky person chance to spend night in house made entirely of legos the question, if thank you and family had an infinite supply of lego bricks what would you build person with best written answer gets to sleep in lego bed with alego alarm clock papers teddy bearcat if you are lonely, okay. There is one thing,ing in denmark. I had to wait to the end to tell you . Maria not going to collapse when you sleep on it . Is this i would hope not, no, about legos. All right there is this billionaire ricket shut down two popular local news sites one week after Editorial Staff<\/a> voted to unionize Lauren Simonetti<\/a> with details on this. This is interesting you know the chicago cubs owner also will founder ceo of dna info, about. Popular web sites for local news if you live in basically five cities new york, chicago l. A. San francisco washington. Issue is owned them 8 years they have never made a profit so this is the message that popped up from mr. Ricketts when he logged on to sites today, he says, look dna is the end of the day a business, businesses need to be economically successful to endure last unique being new york works dna info decided they want to unionize as a result all you 115 workers at all offices are now out of a jo about the Union Response<\/a> to ricketts do we have it . The details looking at all of our potential he areas of recourse, we will aggressively procu pursue member rights. He has been vocal how he feels about unions Digital Media<\/a> he hard to get into unions can be expensive. Go ament we always have when we talked about minute wage going up, minimum wage. People think because ricketts is billionaire he is responsible for keeping their jobs and losing money, that he should losen mo, and keep their jobs, this is what happens to unions not just union pay, it is also the work rules i was in a union briefly Journalist Union<\/a> it was last hired first fired how does that encourage good performance. Not mow he became a billionaire. He said unions promote ema corossive dynamic. Stay with us. [vo] progress is an unstoppable force. The season of audi sales event is here. Audi will cover your first months lease payment on select models during the season of audi sales event. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options<\/a> until youre sixtyfive, but now is a good time to get the ball rolling. 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Jedi challenges, is a aning augmented Reality Experience<\/a> smartphone powered we think of it path to becoming a jedi. How hard to become a jedi i worry about i dont want to try and fail. You know you are not going to be there immediately, i will be honest you have to work for it path to becoming a jedi not easy one, but you will be able to attain it multilevels, experience some fulfill challenges, wielding lightsaber some more thoughtful challenges commanding a battle playing as chewbacca and jeff, you know i find it interesting that mar all over with this. I have 15yearolded son always trying to get off xbox, right. So i am curious what is your target audience and like the age group, the i think that i like about this they are up amoving around i get movement steed of sitting with controller i am constantly telling my son only an hour a day he doesnt listen to me what is your target audience here. Like i have a 17yearold that has similar behaviors, and to be honest, the game is is wonderful for that age of serious gamer not so you juvenile that they wont alive it because call to hardcore star wars fans all of us enjoyed star wars longested to he be a jedi we would the lightsaber feel power we think the appeal will be, to a mass audience quite frankly price point that we attained is going to make it accessible. 199. 199. 99 does it work only with headset. It doesnt this is a heed set conclusiex. You can use all the headset saber itself is we worked being title on with lukas films one that is very authentic, collector level type saber a tracking beacon go together to enable experience, one of the hot products this holiday season. My name is jeff sheldon, and im the founder of ugmonk. Before shipstation it was crazy. Its great when you see a hundred orders come in, a hundred orders come in, but then you realize ive got a hundred orders i have to ship out. Shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everythings pretty much done. Its so much easier so now, were ready, bring on t. Shipstation. The number one ch of online sellers. Go to shipstation. Com tv and get two months free. Maria well back, tgif thanks for joining us. Im maria bartiromo, it is jobs friday, we are fired up jobs friday, october 3 your top stories right now 8 00 a. M. On the east coast, breaking news us 30 minutes away from october jobs report, analysts expecting 310,000 jobs are added to the academy last month Unemployment Rate<\/a> Holding Steady<\/a> 4. 2 , ahead of the report futures showing markets rallying right now the up 38 points on dow industrials up 22 on nasdaq, a third of a percent higher on heels of the tax plan the Tax Plan Takes Center Stage<\/a> now, republicans debuted highly anticipated legislation to overhaul our nations tax code among highlights reducing brackets from 7 to four brackets dropping korth tax rate 20 , i spoke to with house ways and means chairman he kevin brady about it last hour. We expect very strong response from our local businesses wherever competing in that translates by the way, not into just more jobs but higher paychecks one of the key goals of this tax reform. We are are breaking down what overhaul means for you and your money coming up, President Trump<\/a>, twitter dreetd rogue twitter employee yesterday caused uproar after he took down the commander in chiefs favorite outlet 11 minutes to shut down commander in chief weighed in this morning on twitter saying that my twitter account ws taken down for 11 minutes by a rogue employee, i guess if word must finally be getting out, having an impact. Plus, x marks the spot apple lovers around the world frenzy iphonex arrived the excitement dials up cvs into dimension of imagination once again. You unlock this door with key of imagination, beyond it another dimension a dimension of sound. Dimension of sight of mind moving into a land of shadowed on substance of things and ideas you just crossed over into the Twilight Zone<\/a>. You you the Details Behind<\/a> with Twilight Zone<\/a> reboot coming up all those this morning joining me to he can break it down Fox Business Network<\/a> Dagen Mcdowell<\/a> kelly could i and kaento me managing partner kevin kelly. Johnny court noaa. Great to see you. Beautiful do a inings new york city cant believe weather. Just want to o correlate apple and the reupdapaitriatior. 245 billion dollars overseas they have issued about 98billiondollar of bonds not only here but canada, taiwan, to fund, not all 246 billion is going to come back here, so we cannot keep our hopes up that this repatriation is going to stimulate a lot of grow he go to. Take take some back. It will not all of it. Taking an ax to the morning Interest Deduction<\/a> and how home sales are treated under cap gains tax rules i commend republicans in house for doing that again, issue Home Ownership<\/a> holy grail in this unk, basically the last 100 years it was tax policy that was pushing individuals to make certain zdecisions you dont about write off mortgage interest on second home goes from a Million Dollars<\/a> of morning a milliondollar mortgage on that to half a million. And once again, the highest earners are getting the losing end of this plan face it come on. 39 takeaway the deduction once again you are seeing the people who pay the tax not getting a tax cut you the. On corporate side thumbsdown on what they are doing on individual side, it complicates tax code he increases Income Redistribution<\/a> gives is into class warfare language out of democrats. 401 k going to say same. Dont get to call them idiots today. Not today. President trump on first trip to blake burman is at the white house, has very latest on that angle good morning to you. Reporter particulara go a knowledge to you as with he will triple digitp to leave wisely about half an hour or so for if 11day trip overseas most of that spent in asiaing among questions at on aset whether or not the administration will further continue to punish north korea and that a summit of World Leaders<\/a> if on sidelines president will meet with vladimir putin. The president trip a day after the ways and Means Committee<\/a> proud tax bill, here is what i can tell you at the white house officials telling me a good first step the way described they know, that this is a raet overalling lengthy process the president though did say yesterday that he wants to be able to hand the American People<\/a> a christmas gift. We are working to give the American People<\/a> a giant tax cut, for christmas we are giving them a big beautiful Christmas Present<\/a> if in the form of tremendous tax cut, it will be the biggest cut in the history of our country. Reporter pushback continues from republican lawmaker you went over some including you go repealing of the state local income Tax Deduction<\/a> and capping the property Tax Deduction<\/a> a while ago on this program, house ways and means chairman kevin brady tried to make the argument, that those who live in say new york, for example, would benefit from Economic Growth<\/a>. People leave that state it will be because taxes are simply too big a burden for them as a family or business but from a Growth Perspective<\/a>, they are in center of i think a very positive energy Going Forward<\/a>. Reporter maria official telling me relates to salt state and local taxes i was told yesterday this will be decreased, when i asked will it be changinged i was told better to put out this will be addressed. Stopping short there of change. Maria thank you. We will watch that weve got the Senate Version<\/a> coming as well joining me right now from capitol hill House Financial Services<\/a> member congressman will lee zeldin new york good to see you thanks so much weighing in. Grat to see you you said you are a no on tax plan in current form, right . That is correct, and i am a new york congressman, ares representing new york district, i know that i am not fighting for home state home district i cant expect some other member of congress from some other state to do that elimination of state local Tax Deduction<\/a> a geographic redistribution of wealth taking money from state like new york to pay for deeper tax cut elsewhere as dagen pointing out thumbsup on corporate side a lot of good aspects, to this bill. I am fighting for income constituents some he whom are not going to see a big beautiful tax cut in current form others are going to see a tax increase and we just need to address this we saw derogato progress to have a property Tax Deduction<\/a> up to 10,000 doesnt go far enough for me. That is the same will sentiment as congressman peter king obviously same idea that his constituents are going to see higher taxes, in some areas, so let me push back and give you what the leadership is saying, as pushback that is that youve got to look at entirety of this plan,ib mae you he get offset, to the fact that you are going to see your tags go when you lose that deduction you see offset because amt is going away do you not is that not apples to apples . I think the proposal to eliminate state and local tax ducks to have more money to pay for tax cuts elsewhere, now, that the proposal is out there, and about people are out selling it gave in a lot of really good aspects to this plan. Maria right. Some say that new york gets subdivided a neither contributor tax policy we send more to washington than we get in return with state and local Tax Deduction<\/a> respectfully disagree last november run, by the way, my district President Trump<\/a> won 14 and hadone half points tax cuts this isnt what they lad in mind telling them that they would be paying more see benefit down the road. Maria we just have to be clear, i mean when you do look at a group of the people who are making Million Dollars<\/a> or more certainly, you are going to see those taxes go up when you eliminate that deduction, what do you want to say in terms of middle ground would you vote why if in fact they put a cap in other words, if you make he certain amount of money you can deduct it, but above that level you cant deducting it would that be something as compromise . The i certainly would be willing to have that conversation, with leadership. There is potential there is some potential there at least for discussion to take place, i am in favor of keeping he state and local Tax Deduction<\/a> in place in entirety. There are others in favor of eliminating it, in entirety, i i would say for anyone that you are to eliminate the state and local income tax component i dont like the idea eliminating it january 1, 2018 if we are passing this bill by december, not like our state and local governments are all going to be enacting great tax reform at level between christmas and new years even that aspect would need to get addressed even if one was to lose tax deks. Let me ask you you obviously guys your members have been, are behind closed doors trying to come up with socalled pay fors, ways to pay for the tax cuts, to 20 of the corporate, 25 passthrough individual cuts. So how do you pay for it . I mean or do you put that priority aside until we start seeing growth . You know for the last year we have been hearing that we want to get to growth we want to get to growth you know eventually growth will generate enough revenue and that will will you know pay for they partly, should we not be focused on paying for it right now . Or when do you think that the 20 trilliondollar debt, of course, was doubled under president obama whether should that become a priority . Well, the debt should become a priority many years ago. And in order to reverse the direction that we are on we are certainly be thered to see economy growing, faster than government is. And where you have that Economic Growth<\/a>, are deficits can become surpluses he can would tackle National Debt<\/a> about that certainly is a massive priority. As far as this particular tax bill goes, i am not one who believes has to be o revenue neutral you would be interested to see scoring because, if thank you keep a 35 Corporate Income<\/a> tax rate, you have to weigh the impact of that additional jobs are, and companies leaving our country, being coming down to 20 , and jobs and businesses moving back from overseas, so we will see how all that scoring works outable i dont it needs to be revenue neutral. Do you think this plan passes . Are you expecting a big difference when the senate comes out with its version . That i dont i learned in 2017, not to predict outcomes in senate on house side. We passed well over 3 00 bills this year big bills with health care, with board security, i am confident the house is going to be passing a tax bill as well i would like to be there, to vote why for an improved version. Before it gets to that point so i continue to work with leadership, are chairman he brady to try to get this fixed again there was progress, having a property Tax Deduction<\/a> come back we need more though in order to get representatives like me, as far as the senate, i have to defer to them, it has been frustrating, they have been able to pass dozens of bills also will passed house president signed but we have to get big ones done over there as well. Maria we will be watching so in current form you are a no but hoping you could be a yes if there is some change on that state and local deduction, congressman good to see you, sir. Thank you so much. Thank you. Command lee zeldin capital breaking news president tweeted we bring you it he i isis claimed degeneral raet animal who killed badly wounded wonderful people on west side was quote their soldier. Based on that have military has hit isis much harder last two days, they will pay a big price for every attack on us that from the president moments ago, coming up President Trump<\/a>s twitter goes dark, yesterday. The companys response after one employee went rogue decided to just take the president s account offline, for 11 minutes, then we are under 20 minutes awith a rely from october jobs report set tone for markets break down what you need to know and identify where are the jobs are today . Stay with us right here. To fidelity to find them. We give you research and datavisualization tools to help identify potential opportunities. So, you can do it this way. Or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just 4. 95 per online u. S. Equity trade. Fidelity. Open an account today. Twitter account absolute down last night by twitter employee. Cheryl the president tweeted about the incident, this morning, actually, here is what he said my twitter account was taken down you 11 minutes by rogue employee i guess the word must finally be getting out you and having an being twitter says that rogue employee deactivated on last day with companyable initially said in error ended up to be false we know how much trump uses twitter that is error message folks got twitter higher premarket up emotion 1 1 2 right now. Apple blown away expectations, the stock soaring to new highs look at that in premarket up almost 4 , iphone sales rising 3 quarter apple up more than 3 in premarket stock to watch today obviously. All happening as today iphonex going on sale he worldwide high demand for 1,000 dla are plus phone some say apple is not able to the catch up with demand until early next year then this, the Twilight Zone<\/a> is coming back unlock this door with key of imagination beyond it is another dimension. Cbs. Dimension of sound i series a reboot cbs, are digital platform ceo moonves telling analysts the move exciting talked about it in conference cal no word start date ran from 1959 to 1965. Cbs Star Trek Discovery<\/a> this fall if you like liked being Twilight Zone<\/a> past tense get ready for new one. I do, you do. Moments away from october jobs report out in about 10 minutes what you need to know ahead of the release back in a moment markets wherewithaling ahead of the jobs months we are on it right here. Maria welcome back, october jobs report due out you about 8 minutes economists looking for the month of october, to have been good for job creationing 310,000 jobs, added to the economy month october with Unemployment Rate<\/a> Holding Steady<\/a> 5. 2 the joining us to talk about it is Kings College<\/a> business economics professor brian, are host of making money charles payne, also with us lisa sr. , Vice President<\/a> head of Traditional Investments Group<\/a> u. S. Bank Wealth Management<\/a> good to see you thanks for joining us lisa kick it off with you what are you expecting from days report do you think the markets will move on it . We do actually feel positive lao about likely jobs report to come through as we looked at Economic Data<\/a> we continue to see, a string of solid he economic reports whether manufacturing, whether it is from housing numbers and so on back of that we expect now that some of the hurricane related activity is going to be moving out of those numbers that we are going to hit within consensus may be even high end of that range expecting Unemployment Rate<\/a> to remain steady, and we are actually continuing to look mainly for those increases in wages to continue to come in at above 2. 5 number eventually hope to even for the real wages to go up you have what are you looking for most positive are. Lisa talked about range the high end 4 lunn, 420,000 i think we are going to be above the consensus and in part to what talking about Kansas City Manufacturing<\/a> 6 1 2, global goods bottom in may businesses big time money almost all anecdotal stuff look at points to strong number so i am very, very optimistic but you go a is know i i look at producing jobs are i think representatives hartland adp yeartodate producing jobs in this country 1,000 over last year, 1,000 . Maria big number more after circulatory break october jobs report live right here as it happens stay with us. Whoooo. I enjoy the fresher things in life. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest. Prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices. From over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. 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Iwelcome back i am maria bartiromo, jobs friday, november 3 breaking news moments away from october jobs report, here is what we are expecting 310,000 jobs added to the economyin m october, Unemployment Rate<\/a> expected to hold steady 4. 2 markets rallying ahead of numbers to look, dow industrials right now showing a gain about 27 points, this is is off the highs actually, nasdaq s p 500 also on on in positive territory, brian with us, final thoughts, before this number what are you looking at. I am watching wages the question has been are we at full Employment Unemployment<\/a> numbers suggest we are we havent seen wages come back you cant answer that question until you see wage numbers, near he what we saw last month, but that is is was a high number expectation 2. 6 annualized basis i want to see that number get higher, i also want to say, you know just i love xaerls optimism about high end, katrina a job numbers didnt come back until november numbers i want charles to be right there is a chance we might not see rebound until november. I can tell you, defend rl charles tell you why because with that 33,000 job loss, in september, it didnt really make much sense, because the Labor Department<\/a> said that only 8 of u. S. Workers were in counties hit by two hurricanes, irma harvey so the number the job losses wasnt really parallel with the number of counties impacted so you can see beings revision higher. Gdp . Right. Another thing katrina actually knocked out 36,000 jobs in this was actually two hurricanes only negative he 33,000 so i mean you had double the storms, but still less jobs loss. Dynamics go ahead. That is okay. I think we have to look at revisions certainly to september see what the number is hopefully a lot of jobs are created are coming back in manufacturing, and construction, i think those are going to be two of the sectors we need to focus in on. Look at manufacturing construction. Is it revisions looking at realizatio i go revision we got that last time want numbers get to washington issue you adam shapiro is going to have the number right now. Reporter the Unemployment Rate<\/a> you falls to 4. 1 u. S. Economy added 261,000 jobs october, the private sector added 252000 now that appointment there rate 4. 1 lowest since december 2000, about 3. 9 number unemployed fell he 281 ,000 with revisions up a total of 90,000 september ep originally reported as negative 33,000 was revised up 51,000 to 18,000 jobs, august revised up from 169,000 to 208,000 jobs, average hourly wages little changed fell 1 cent rising in seventh average workweek no change u6, 7. 9 the lowest since december 2006 but the Participation Rate<\/a> there is no clear trend according to the Labor Department<\/a> it increased 4 10 of a point down to 62. 7 there in may of 2017, also the labor force shrank 765,000 jobs, but according to the analysts Labor Department<\/a> dont read much into that, Food Services<\/a> drinking places add does 89,000 jobs are professional business servicers up 50,000 jobs manufacturing up 24,000 jobs health care up 22000 jobs, issue retail down 8300 jobs, real estate retail leasing up 109 hundreds jobs cool ming no change construction transportation financial activity, also no change to recap unemployment report Unemployment Rate<\/a> down to 4. 1 the compromise i adding 261,000 jobs are. Back to you. Maria all right. Thank you so much, the latest there, of course, looks like mixedub in yur reaction Dagen Mcdowell<\/a>, where you got Unemployment Rate<\/a> better than expected number of jobs created worse than expected. Dagen 251,000 a decent number looking at the estimate range, it is right in the middle, about the range was very wide, going into this, are about 120,000, all the way up to 420,000. A revision to month september that we actually had as expected jobs gains that job less fortune m september originally reported now up 18,000 there, and really good broadbased gains. Maria they were number jobs off 261,000, that should be green arrow. Please this is not right it is 4. 1 , are the lack of change in wages was a little bit surprising that wages were unchanged, what we were showing. Continues to surprise me, dagen we talked about that but we see wages moving i know the wages in this report are hourly wages. Different than obviously salaried Household Incomes<\/a> i can tell you from front front lines we see wages move one thing that was surprising was the loss in retail, of 8300 jobs, i think about this speaks to even the holiday jobs are i shifted, shifting more to warehouses logistics transportation, jobs moving there just due to eo commerce. That industry changing. Wall mart said not adding Seasonal Workers<\/a> just giving more shifts to people more hours. That kind of backs up what we saw in retail last month. I am interested in lisas take on wages because last month we had one of the best wage increases for september basically the best wage increase our average hourly wage increase since stwien lea 2009 what do you take wage increase the right way . Yeah, no. The wageub in is actually a little surprising we are disappointed that it didnt come in up. Many that being said, i think if we look at the broader economic picture continues to remain so manyid, whether looking at other sectors of the economy or looked at leading indicators, to basically what is going on in the jobs market, Business Sentiment<\/a> good the number of openings remains solid so we do did even though we think this number is a little bit disappointing, we do continue to believe that as we continue to move forward, next few quarters we will see that anybody strengthen. Bring witha how do you see it. Is off in if Participation Rate<\/a> number coming down a little bit here, you marry with wage number flat or down a little bit, this continues to be a problem folks we cant really say we are at full employment until you see wage numbers go up participation people want to write off demographic things not big as people want to make it when wage numbers dont come back the way they havent come back looks like a real pro about very mixed headlined number not bad underlying stuff stigz economy needs a boost tax reform conversation why tax package so important to get it right. I agree participation the people are not participating like they used to right, young ablebodied young respecting men in particular, you know wage thing is interesting because if you deli. S verie in numbers to the point there are great paying jobs out there wages are going up but if you are unskilled in this country you mentioned warehouseing we brought from two from puerto rico lost everything a job in new jersey warehouse nine bikz nine bucks an hour interesting there is a swath people left behind continue to be lowest behind, and you do things for them tax breaks but ultimately we got to find a way to sort of bring have the same, shifts revisionub in more or less in line you add 50,000 plus us 260 about what we were looking for the market likes it so far, because we still are creating jobs, in the this country, but, again, wages have to start moving across the board i think. You have to believe things are improving here based on this number on gdp number, i meanen slowly but shuler a much better turn momentum. Important we should look at october Consumer Sentiment<\/a> number it was highest weve seen, since 2004 so consumers out there are actually very, very smo. Highest since 2001 break down that number people are extraordinarily excited every report i read regional fed reports, corporate earnings every final open up Earnings Report<\/a> statements says we are still having trouble finding skilled workers he skill it is i talked about this previously on your program maria one of the things we looking at is we are placing a lot of hourly workers we have invested partnered with Training Companies<\/a> because key feel we have to address it feel like it is our responsibility. To do that, i think we are going to see more companies do that in this future going to have to invest in training and providing education and skills, for workers, but i do want to emcould back to the tax tax reform the Corporate Tax<\/a> cuts could turn things around here start driving more growth especially he for small businesses. We are seeing businesses finally loosen Purse Strings<\/a>. I wonder dagen what you think about retail number the fact we lost jobs in the retail sector, you are seeing job creation elsewhere, but what does that tell you into the holidays. Dagen tells us that there is a huge sea change going on in retail industry. That people are moving online, that you are kind of i think are a andfile workers on the floor of the Department Stores<\/a> and the like those jobs are disappearing if you look it is a Leisure Hospitality<\/a> number for un m of february 106,000 jobs there in have september was a loss of 111,000 jobs, so we almost you a saul jobs coming back, issue to the point earlier, about we need a tax policy we need to see o consumer demand generated here, i think that that there was no change, month over month in wages, yearoveryear was a 2. 4 increase, that is the lowest it has been since february, of last year. That is not going in the direction it is if you are an investor, you dont want the fed aggressively raising Interest Rate<\/a>s, but if you are if you are worried about the economy you want to see that number will Holding Close<\/a> to that is personal income spending data we saw rates down to 3. 4 . Loft 10 years. Earnings in the america we see a strong surge in use of credit, versus debit some he will could argue that is confidence but also it can it brings up a yellow red flag in a earn is about point, so people are and consuming but as how and how long can they keep it going. Also going up when you look at auto loans some the bottom area sort of lending it doesnt look good. Is it Fourth Quarter<\/a> a banks started making maufrj adjustments only quality of loans saw this coming banks have been tight on some loans compared to area i wouldnt k or so ago. Markets not a big reaction here get to floor of, no, no lori, manage the floor down there early reaction to jobs number good morning to you. Nice to be with you maria, good morning, so focus here is is what will will this say about jobs what will jo abouts report rather say about future of Interest Rate<\/a> hicks still upper 90 percentage chance we see december 13 rate hike between 1 1 4 one and 1 2 percent minor moves in treasury Interest Rate<\/a>s coming down disappointing on jobs creation, so there is a 10year yield into a lot of your why mortgages other consumer loans 2. 34 , so down over a basis point there, on the 30 year also down, a bit more 22. 81 this shows that people are coming in Interest Rate<\/a>s higher ahead of report as was the dollar, the dollar index came in so Interest Rate<\/a>s gold up typical response to numbers the government did release in october back to you o. Maria thank you, your reaction to the reaction act from the stock market. Reaction he slow and steady there are a lot of signs beyond this Government Data<\/a> and survey that the economy is gaining momentum i am telling you from corporate america, to what they are saying to kind of guidance we are have aering to all the other sort of data that comes out on daytoday baz so we have a wind in stailz in this country the big question how do we boost it putted it into overdrive. How do you do it. I think my main takeaway from this is under employment rate u6, 7. 9 lowest rate with weve seen since 2006. High number. High number but yes, this is the number that President Trump<\/a> was campaigning about, talking about, hey job numbers around the that great, focus on this number, now it is back to full percentage point. Lisa would you advise your client to puts new money to work given that this numbers that have come out seems like the economy is still on track we have had great gdp prints what do you advise clients in in traditional strategies for ubs. U. S. Bank i mean. Is it we would advise our clients to stay apat in general i think jobs report while a little bit plikd does reinfor those or solid fuse of the economy as charles appointing out a lot of great indicators across the board, whether it is within u. S. Or even on a global basis, in fact this look at Global Health<\/a> indicators, weigh really remain nicely in that growth upswing another support o overall for markets here, so i think what you are seeing in equity market with a muted reaction to the mixed numbers if fact looking at Bigger Picture<\/a> and we would continue to advise our clients to say president a stay more risk on in equities, remaining alert to some of the trends, and i agree with the folks here, that in terms of of the what we need to keep our eye on that wage number and that slight drop in the Participation Rate<\/a>. Maria in terms of of the fed lets talk about what this means for Federal Reserve<\/a> next meeting in december. Is the plan on track . The raising rates. Dagen simply because they have indicated that they are planning to raise rates that in the december, but i think about moving forward given what these wages are not doing in terms of growing, the flat wages for this 2. 4 gave in an lowest since last year gives room to move you see what i look at bond market buying in treasury market being when report came out gains across the board in futures here, you have the yield coming down a little bit, it was as pretty close to 2 the 1 2 a few days ago now under 2. 4 if you take a look at 2. 3, 4 . Fed comment this week the labor market continues to strengthen Economic Activity<\/a> has been rising at solid rate despite a hurricane related disruption holds true what fed said earlier this week i want to point out charles this market would be down if not for apple, apple right now is rallying it is adding 51 points to the Dow Jones Industrial<\/a> average lets look at this clearly, we are up but it is really everything is due to apple. Cant throw a dart you not throw a dart last month s p 500 over 50 came from five stocks, is to, you know, the idea market is up, you know, you are absolutely right there are some bona fide losers winners winning baby time talking about death of Retail Consumer<\/a> discretionary s p Consumer Discretionary<\/a> you hit alltime high this week what is in that he netflix, in it, it counter balances the fact jc penney on verge i think we miss i was riding subway yesterday, and there was ad for brooklyn a direct to consumer Sheet Company<\/a> they sell sheets and i think that we when we talk about amazon taking business away from all these brickandmortar retailers because of internet instagram social media there are a lot of Small Companies<\/a> job creators that have really built these incredible direct consumer businesses Sheet Companies<\/a> Clothing Companies<\/a> work out wear name it that kind of gets lost in the lost in the haze of the concerns about the good things that we actually saw, in this report, is i manufacturing. Manufacturing came back this is jobs jobs. The number there, we had i mean last year it was like 17,000 for the whole year something crazy like that this is strong month for manufacturing. Dagen quickly today, because there is going to be sector volatility because of this tax bill. Maria yeah. Dagen coming days winners and losers. I i want to know point out brought up top of the hour that they take the gop and house took an ax to the mortgage Interest Deduction<\/a> no longer would apply based on this bill to a second home it is one home, it is interesting on half a milliondollar he mortgage not a milliondollar mortgage and treatment of cap gains taxes gets no prolonger you have to live in in a home two of the last five years there was cutoff you have to live in the home five of the last 8 years are, and there is also an income breakdown i want dont want to get in weeds with that again there are some they are going after. Have National Association<\/a> Home Builders<\/a> came out very strongly a lot of money lobbyists in this. For sure. A break when we come back more on october jobs report after this break, and we will tell you where where the jobs are specifically. Stay with us. Just like the people who own them, every business is different. But every one of those businesses will need legal help as they age and grow. Whether it be help starting your business, vendor contracts or employment agreements. Legalzooms network of attorneys can help you every step of the way so you can focus on what you do. Well handle the legal stuff that comes up along the way. Legalzoom. Legal help is here. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Or a little internet machine . With a clear advantage. It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile<\/a> comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Welcome back busy morning october jobs report out you economy added 261,000 jobs i dont say in october that missed economists expectations somewhat although expectations wide, the Unemployment Rate<\/a> dropped to 4. 1 , that is a very good number want to bring in host of Varney Company<\/a> Stuart Varney<\/a> to weigh in in good morning. Good morning, maria. I like everybody else i think a lot of disappointed in this anybody but as you suggested it is subject to considerable revision next month and un month after that but i think also shows this economy is pretty close to full employment Unemployment Rate<\/a> it 4. 1 i think 17year low, and the u6 rate real Unemployment Rate<\/a> down to 7. 9 lowest since ins 2006, looks to me like an almost fully ployed economy growing 3 looking down the road given that almost full employment growing economy you have to expect wages going to start to rise in early part of the new year, that is certainly a hope of the trump administration, i i wonder what economists think. You are right, you have to believe that there is a solid recovery going on, stuart. Maria o sure. Businesses loosening Purse Strings<\/a> 3. 1 gdp, two 3 numbers consecutive not gang busters cant forget two hurricanes. One of the significant things that happened yesterday, was as jay powell will nominated going to be inheriting a great economy, going to have to decrease the fed Balance Sheet<\/a> going to have to probably you know face recession sooner or later what do you think of the nomination of jay powell. Steady as she goes, i dont deal much with fed dont know much about jay powell from what i am told steady as she goes, i am told to expect maybe three rate increases next about 14, 15 months if that is the case, it is steady as she goes. Have this report, this report does not change that. No, i just laughed at kevin brought up the Federal Reserve<\/a>, he knows anything about you, or ever watches your show that like. What is he doing . There is no buzzer on marias show therefore i felt okay to bring up the fed. Thank you. Only for quantitative easing. [laughter] [buzzer]. [laughter] see you 8 minutes. Still works kevin. It does Varney Company<\/a> top of the hour,ing about 8 will minutes brian your final thoughts on this on jobs number what do you look for Going Forward<\/a> . As you digest better. Dont fall in love with 4. 1 number my news here we should be produce activist high dropping in the Participation Rate<\/a> pulling gainlz down that is also pulling name the rate down we have to fix that if we are going to get wage gains justify this 4. About 1 number there is more work to be done cone. Maria good point lisa thoughts we have not seen a move in wages. Yeah, i think in short term the report came out just fine, again while mixed numbers generally, we saw gains, payrolls Unemployment Rate<\/a> remains mz steady so i think will allow fed to be able to hike being as anticipated and markets equity u. S. Equity markets to continue to do well, i think ing longer term we want not to monitor trends in the wages in general are seeing across not just u. S. But also globally is that inflation rates are starting to pick up over the next few months, so our expectation those numbers go up. The tweet since a guest earlier in the Program Wages<\/a> still pumping punk President Trump<\/a> could if the tax bill doesnt move have same problem that president obama had, where you have an economy that looks good, but people dont feel it and that does factor into mid terms next year. Where are jo, if looking for a job what is best shot. First of all, the best industry certainly continues to be health care, very strong logistics, very strong, the stem jobs are still some of the hottest jobs out there. Skills education, but there is also Customer Service<\/a>, jobs are in the high demand coming in lower level skill some hottest jobs out there as well, engineering, technology, health care, all continue to be very strong we are starting to see manufacturing construction come back demand stronger in those fields as well. A quickbreak lisa brian thank you to you both we see you soon, final thoughts from this allstar panel on the october jobs report back in a minute. Did you know american homeowners, aged 62 and above, hold over 6 trillion in home equity . Yet, not enough seniors are taking advantage of this fully insured product to tap into their wealth. Its called a reverse mortgage. If you have at least 50 home equity, the end of this commercial to find out how much you could get for your home. A government insured reverse mortgage swaps your mortgage payments for a steady, taxfree source of funds you can use for whatever you want. Its a smart way to eliminate mandatory mortgage payments, improve your home, make a large purchase, or just spoil your grandkids. The 2012 fha stabilization act completely reinvented reverse mortgages, turning them into smart and safe retirement solutions. Theyre fully insured by the Us Department<\/a> of housing and urban development. 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All right welcome back final thoughts on this all star panel charles. I agree with everyone participation is big red flag here but i will say yesterday an adp franchises through the roof and need to promote entrepreneurship because economy have they bonging. We have that 25 pass through rate and tax plan. Kourtney. Overall it is a positive job report only thing that concerns me is labor participation. Seeing that decline 785,000 people leaving the work force, does concern me we want people entering work force. But overall a stol willed report and a lot of job growth in many sectors. Dont forget to change your clocks this weekend fallback 2 a. M. Saturday night kevin kelly just say. A is on track to add a significant amount to not only the dow but also the nasdaq. 100 so it is over 15 youre starting to see theyre operating margins are staying stable consistent with a lot of these companies and thats why youre not seeing wages increase because theyre twailg not passing it on to the their employee so tha the interesting aspect so they have stayed stable. Gop did not mess with 401 k plans so a thumbsup on that. However, its still on the individual side in materials of the task code so they get a Big Raspberry<\/a> for that. M big weekend this week and dagen and see you sunday morning futures as well as wall street week joining us my thanks to all star panel and get over to Stuart Varney<\/a> and Varney Company<\/a>. Dont forget to change your clocks more good stuff for us Early Morning<\/a> people. Thank you maria lets get this straight america is growing. America is creating new jobs, and america does have the worlds most valuable company. Shall we call it a win . Gork everyone. If youre just joining us heres the news on jobs 261,000 created last month. An extra 90,000 jobs now reported for the previous tbhonts Unemployment Rate<\/a> down a 17year low if you add that to the long list of positive news items it is clear the economy","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia600405.us.archive.org\/23\/items\/FBC_20171103_100000_Mornings_With_Maria_Bartiromo\/FBC_20171103_100000_Mornings_With_Maria_Bartiromo.thumbs\/FBC_20171103_100000_Mornings_With_Maria_Bartiromo_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240629T12:35:10+00:00"}