The Fourth Quarter and also this week we will get the first glimpse oncoming quarter on friday with new jobs report, so we talked about this last week and looks like the economy has slowed a little bit and we have to see whether we get confirmation of that with the data that come out in the next few days. The earnings and the guidance obviously as usual will be important but now the democrats are turning the story, so far no reaction from the markets but the markets are now accusing President Trump of soliciting additional foreign assistance, this time from australia to investigate the origins of the Mueller Probe. The story in New York Times, the president public told reporters in may that he asked attorney general william barr to look at variety of countries potentially involved in the 2016 election. House democrats subpoenaing the president s personal attorney for documents and said Senate MajorityMitch Mcconnell would have to take Impeachment Vote if it makes its way to the senate. Lawrence, in terms of australia connection, im state of the unioned that stunned that the president can come out, australia had diplomat, one of the informants thrown at George Papadopoulos. He has to deal with it, now the president wants answers right now and i think the important distinction that the American People need to realize is hes asking them to go through department of justice. I know that democrats tried to discredit bill barr, lots of experience, have been in Justice Department before, we know that he has conducted investigation not only with john durham, but hes contacted his own investigation to figure out what the origin is, they can spin it the way they can spin it. They seem a little scared if you ask, we are trying to get to how it started, they dont want to talk about that. Maria i totally agree, dagen, i think that this is what its all about, now that i see the latest charge of australia, im recognizing its about the skeptics of the president and democrats who do not want friends in fbi and cia taken down knowing that the ag report is on its way out and ig report on its way out, in my view. Dagen the timing of the whistleblower complaint and this issue now that its being conflated with, attorney general bill barr and counterintelligence probe into russian influence and any potential collusion against mueller found no conspiracy, no cooperation between Trump Campaign and russia. Its been thrown into one giant casserole, if you will, the issue of the president and ukrainian president , the aid being withheld, ukraine, thats being conflated with. Anything and everything else, but but the people in this country, the more complicated it gets, the more difficult it makes it for the president to defend himself. I think thats by design. Jon more people to latch onto it and really care, the more complicated it gets the more people are thats by design, though. Dagen i want to point out something in terms of the president and the may 24th public statements when he brought up the issue of the attorney general looking into the the predicate for the counterintelligence probe, he said, the president said i hope he looks at the uk, i hope he looks at australia, i hope he looks at ukraine, i hope he looks at everything because there was a hoax and perpetrated on our country and then after that in public response and this was on special report last night, after the public comments, the australians proactively contacted the attorney general offering assistance, there was a letter that was obtained by fox news and the fox shows that showed the outraged by the australians, initiated by australia. Again you get this, everybody will be talking about this New York Times report without and you might read the first sentence or two, but without the background of the timeline and what really went on. Maria yeah. The background is as follows, the president was framed when he was candidate trump. Period. This investigation started in the end of 2015, i want to be clear here because theres efforts to muddy up the waters, investigation started in the end of 2015, this is not me making this up, this is the congressmen who have seen redacted items, who have done the testifying, the testifying and have interviewed a lot of the people involved, we had George Papadopoulos on this program who had informants thrown at him in early march of 2016, one of whom dropped 10,000 in his lap so that he would actually tell donald trump that russia had Hillary Clintons emails, carter page was wiretapped unlawfully, no reason that they should have obtained a wiretap into carter pages life other than the fact that he was on the Trump Campaign. The president is trying to get to the bottom of where it all started, russia did meddle into the United States, they inserted donald trump and because he is asking ukraine, australia, how did this all begin, theres a whole new scandal that the democrats are trying to muddy up the story and put him in. Not fooling anybody. Part of this was the hole in the Mueller Report which you and i have talked about, he never looked at the suspicion that about where this whole investigation came from, he looked at the accusations of trump and russia and never looked at the complaints about the fisa, you know maria thats exactly right. For a long time i will say how would you take anything seriously from the Mueller Report if hes not looking at what took place on the other side. We know that he didnt know what was in his own report and meanwhile maria by design. That wasnt something Donald Trumps political opponents were part of the investigation, we know the ties they have to the clintons, we know the ties with the Justice Department and they supported democrats, im not saying that you cant have political affiliation when you are that open about it, thats conflict of interest. Maria we heard from kevin mccarthy, this is the closest this country has ever come to a coup and thats what happened at end of 20152016. Dagen democrats have been jumping to impeach the president and they did not get it in the Mueller Report, but, again, the transcript of that call with ukrainian president is troubling and problematic, and im not talking about the line about do me a favor because, again, after that the president is talk about the 2016 election, but its the issue of joe biden who is running for the nomination, the democratic nomination, its about ukraine and its about aid that had that at the time had been withheld. Maria it was not in the transcript, aid. Zleneski brings up the aid. Ry understand i understand that, the president in hindsight should have been a lot more careful in the language that he used when you have a conversation with head of state where you know that it is being transcribed. It opened the door, it opened the door impeachment proceeding. Maria that does not change what took place and the failure of anybody focusing on the wrongdoing which is still hanging in the balance, where are the indictments. Jon dagen, do you think nancy pelosi lost control of the narrative . Youre saying the focus should be on the call and the request for help on biden but not everyone is talking about dagen im not saying thats impeachable. They have been looking for a way to open the door and now they are cooking up a casserole of anything and everything that has to do with President Trump and the ag and the Justice Departments communication with any other world leader. [inaudible] dagen even if its legitimate, i dont know who is in charge of this narrative because its hard to make heads or tails. Maria if the republicans do not actually communicate what took place in 20152016 at this point after we know everything that has gone on, the republicans are inept. Yeah. Maria where they are inept, its unbelievable that a constant, you know, drum beat of calling out this president from the democrats to try to muddy the waters because we know what took place and still hanging in the balance and we still do not have indictments, they are inept, thats all i need to say. You have a hearing, he lied what was in the transcript. Maria quickly get to china because we are already fired up and its only after 10 at 6 00 in the morning, china had military parade, president xi jinping not letting hong kong protest and u. S. Trade tensions away from milestone, 580 piece pieces of military equipment, ministry of defense in china and they are also talking about the most highly anticipated piece of equipment, the dong fang 41, the Intercontinental Ballistic Missile to have the furthest range and could reach the United States in 40 minutes, they are celebrating 7 years of communist rule through military parade, we are on our way to becoming the largest and the most powerful super power in the world militarily. This is extraordinary. Jon two remarkable spectacles happening at the same time not far from each other, the military parade in government and military might in beijing and in hong kong a few hundred miles away you have people taking to the streets and protesting and saying we want our freedom back, in some ways its inspiring and its sad that hong kong is losing long history of freedom. Dagen totally agree, its not the military might on display, its what the world cant see that we know about now. It is surveillance, it is theft, it is attempt to control technology around the globe and use that very technology essentially to spy on every other nation and to dominate the world which you cant see thats even more disturbing. Maria absolutely. The spying that theyre doing on american citizens, their technology is why we cant thats right. There are 30icbms, highest estimate coming through, these are, these change to china sea or taiwan, 30 or 40 of those, we will talk about that, we will take a break and talk about wework, still needs cash even though after pulling ipo, details next if you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back, u. S. And north korea set to resume nuclear talks, cheryl, good morning. Cheryl thats right, Senior North Korean diplomat agree two countries have agreed to resume negotiations on saturday, this also comes a day after former National Security adviser john bolton said that north korea will never voluntarily give up Nuclear Weapons. Brian mulkeen that happened over the weekend. Make no mistake, we lost life of courageous Public Servant solely due to Violent Crimes and put life of police and other people we serve in jeopardy. Cheryl died during struggle with suspect while investigating gang activity, commissioner oneil says that mulkeens gun was not fire, suspect shot and killed. California tour guide with passing u. S. Secrets to chinese government, doj released Surveillance Video which shows man making cash dropoff in Georgia Hotel room, agent would take money and fake u. S. Secret, the suspect naturalized american citizen would take it to handlers in china, he faces, maria, up to 10 years behind bars if convicted. And then theres this, the crazy story, wework is still locking for cash after canceling plans to go public, it anticipates difficult decisions ahead as analysts worried that wework could be out of money next year. Maria, also today in silicon valley, big meeting between a lot of the private companies that want to go public and other executives because the ipos have not done well this year. Maria its a really good point and brings to the point that the idea that the u. S. Administration stopping considering flows, this would be the worst china policy and it actually moves markets last week, didnt it, john . Right, we are tied very closely to the chinese not just by trade but by money, investment flows here and investment flows there, its hard to reorient because the ties are so deep. Cheryl desperate search in taiwan after bridge collapse, the video coming up, out of this world, elon musk shows more of brandnew star ship rocket, short tour, back in a minute with that. dramatic orchestra performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Im working to treat every car like i treat mine. Adp helps airtech automotive streamline payroll and hr, so welby torres can achieve what hes working for. Thand find inspiration who win new places. Ct. Leading them to discover were woven together by the moments we share. Everything you need, all in one place. Expedia. Maria welcome back, markets are higher, dow industrials up 70 points, nasdaq up 27, marketed ended up Third Quarter gains as well, now the longest on record, dow industrials for the quarter as you see up 1 , s p up 1 and nasdaq was lower, joining us right now portfolio wealth adviser lee, thank you for joining us. What kind of quarter in Fourth Quarter . I dont think we will see any volatility, all the people betting on it are going to lose, all 11 sectors of s p have lowered guidance, i think that we are going to see the earnings and everything get sandbagged, i think you will see more upside. Maria you think things are going well because theres new s p note this morning because theres risk of u. S. Recession has climbed 30 to 35 due to weak corporate earnings that we are expecting and other downward trends. We have 3. 4 and almost 3. 5 sitting in cash, we already know about the yield curve inversion signaling recession next year, i dont think thats really good news, the Market Dynamic and the way you make money here is understanding what the expectations are, theres a fear of missing out, we have a whole sector of Retail Investors which i deal with oneonone and these people have a lot of cash in the sidelines and are so concerned, we will crawl the wall of worry, i think that the expectations is really jon walk us through that . What are you expecting in the Fourth Quarter and also looking into 2020, what kind of growth are we getting on the earnings front . Once you start getting into Fourth Quarter, we are going the find out that nothing is wrong and i think that we will have a pretty good First Quarter going into next year and thats because we still have the Housing Market strong with consumers getting back in their pocket maybe 5 or 10 . Jon but what are the numbers the days of double they are gone. Most single, most single. Youre locking at 3 to 6 on average, estimates for next year are off by 30 to 40 , i think the story is next 3 to 6 months and everything will look fine but the slowdown in manufacturing, its going to eventually start getting more pervasive into earnings and i think by the middle of next year, we are will have a market that could be in real trouble but that doesnt mean that we dont want to make money for the next 3 months. Jon isnt it the case that people are moving to stocks right now because theres nowhere else to go and the rest of the world doesnt look good, the stocks are the only place to go, that might get you a positive return but not make you a fortune. Maria earning estimate 30 to 40 off . I believe highsingle digits, 79 later next year, i dont see how we are going to do that. I was in manufacturing overhang right now. Dagen you lose money in bonds and you can lose money in stocks but if you just park your money and cash thats alternative. You dont get paid jon in germany youre losing it there. Dagen i know, but we are not in germany. Maria lets talk about germany and negative rates, yields not even roller coaster ride but move globally, investors are paying and 15 trillion in Government Debt around the world has a negative yield, what do you do with that, what does that tell us . Right now you if youre a European Investor you can still euros, buy dollars and after hedging that you can still make money on u. S. Treasury, that trade is going to disappear soon and thats not a trade that everyday investors are making, we recently what weve been doing we have been taking some exposure to intermediate bonds, im not turning into an armageddon news, its cheaper to own gold than it is european debt or any of this negative yield and i also think you have to wonder whats going on with European Investor, german investor who can buy a pact through cheap etf, 1. 3 times and getting 4 yield and they would rather buy bonds, and so i think you really have to think how is this different in europe than it was here in the United States in the summer of 2009 when the s p was yielding 4 and everybody like george soros said theyll never a recovery, i think theres going to be a recovery because we priced i