This hour President Trump leaves the white house, making way a Campaign Rally in mississippi. Well bring you the president s comment if he makes any. Stop to speak to reporters on the south lawn. Melissa what are odds he passes up that opportunity . Connell pretty low. Melissa fox business deem coverage. Blake burman live at white house. Gerri willis on the floor of the new york stock exchange. Edward lawrence in d. C. Why dont you kick it off. Reporter lets do that. The number of jobs created beat expectations. 128,000 jobs in october. The Unemployment Rate still near a 50year low, 3. 6. That is exactly what the market wanted to hear in conjunction with the chinese trade talks phase one moving nicely. Revisions are story in itself. Job totals for august, september were revised up. Total of 95,000 jobs. That shows continued strength in the foundation of the economy. Then wage growth. Wages are growing at 3 offer the past 12 months. That number low enough where there is no pressure on inflation. White house Economic Advisors taking a victory lap based on this report. It shows, by the by, that the labor market is still strong, consumers and wage earners are still strong. As i said, america is working. I think people are underestimating the underlying strength of this economy. Reporter the weakness here is in the manufacturing numbers. Ism data came out, 48. 3. That number under 50. Any number under 50 is contraction. Experts blame other countries around the world for doing much worse than the u. S. Economically. The exports were basically flat. Also Large Businesses in the u. S. Have been reluctant to make fixed Business Investments because of trade uncertainty. Those companies are sitting on piles of cash. Once trade deals fall into place like chain phase one deal, ratification of usmca, those companies could start spending, giving another boost to the economy. Melissa. Melissa edward, thank you. Here now michelle gerard, Natwest Markets managing director. Give me your hot take on the jobs report. The hot take the president deserves to take a victory lap. This was healthy report, stronger than i expected with upward revisions but this is a good day for the labor market, good news for the consumer. Melissa yeah. What does it tell you, weve been thinking the economy is slowing down. Everybody is worried about it. Does it give you insight into that or change your mind . The thing im worried about when it comes to the economy is not the consumer or the labor market because we know that is holding up well. Today even suggests there is more strength there than we appreciated. So that is great news but size, business sector, exactly, as was discussed. Pullback on business side because of uncertainty, about trade, you know, the decline in business investment. And what we had, worried about is some loosening up in the labor market, also maybe they pull back on hiring. To me that is a concern. Were seeing weakness on the business sector. Strength on the consumer. What happens . Does the business sector rebound which is a positive story as uncertainty is removed . If uncertainty lingers, does the consumer ultimately get undermined by weak business. That question wasnt resolved today. Melissa were seeing headlines close to a deal with china principle. That is closer than it has been before. If you put two things together, you put the labor market hasnt reflected the perceived weakness in business investing. They were on pause for sure without question because we werent sure how the trade war was going to be resolved. So it hasnt caught up in the labor market yet. We close the loop with china, start to see resolution, put those together, it could be stronger than we thought. It could be. Although im a little concerned that the uncertainty about trade in 2019 could get replaced by uncertainty about the election in 2020. I think a lot will depend too, on how the election shapes up, who will be the, who is going to be the democratic nominee. You know, if you have a candidate like Elizabeth Warren going against President Trump, and companies are worried about the possible, you know, implications of a warren presidency. That makes them now sit and wait, you know, this is melissa if managers are worry warts like that because they shouldnt be running companies. There is always a thing out there that is uncertain that could screw things up. That exists at all times . It certainly does but a waitandsee attitude. It doesnt have to necessarily mean theyre not willing to gained of continue but to really take the leg up, that we saw in 17, 18, when companies were so confident about the outlook and they were investing strongly and hiring strongly. That set the stage for the strength were seeing now in the consumer, i worry that cautious behavior, first about trade and then, potentially next year about the elections, may keep a lid on things. It is not recession, melissa. More subdued growth than weve seen. Melissa always brilliant michelle gerard. Thank you. Thank you. Connell all three major averages up more than 1 for the week. If you look at weekly numbers, it is very strong. Gerri willis we settled with a more than 300 point gain on the dow. We love that. It was strong all day long largely on economic numbers. S p registers a gain for the fourth straight week. Nasdaq for fifth straight week. Were seeing very good numbers here. The bull market seems to be back on strong economic data. I have to tell you, even exxon, which registered profit and revenue fall from the previous quarter, higher today, this as weaker global and Oil Gas Prices offset production growth. The company reporting earnings per share of 75 Cents Per Share compared to a 1. 46 a year ago. Alphabet google buying wearable Fitness Company fitbit for 2. 1 billion. Shares soaring today on the move. Looking to capture consumers through devices other than smartphones. This is going to be a trend. Well have to keep an eye on this one. For now were seeing major moves in the indexes. A good day and week for the markets. Back to you. Connell gerry thanks. Melissa youre welcome. We were talking about deal, no deal. China reach as agreement on principle on phase one, but our own blake burman is hearing a different story. Blake joins us from the white house with more. What are you hearing . Reporter what we know there was a phone call between robert lighthizer, Steve Mnuchin and counterpart liu he and his associates from china and the u. S. Trade Representatives Office described the phone call as quote, constructive. This was part of a readout the u. S. Provided afterward, quote, the negotiators achieve progress in a variety of areas and are in the process of resolving outstanding issues. The readout from china was a bit different. There was consensus in principle but one source i spoke with familiar with the elections, the readout from china, buyer beware. As the phone call, larry kudlow, the president s top Economic Advisor says that the deal, the phase one agreement is virtually completed as it relates to agriculture, Financial Services and currency manipulation but he also acknowledged that some of the thornier issues still need to be tackketted. Enormous progress has been made on intellectual property theft issues. That was not completed. There is lots of progress. Forced transfer of technology. There is some progress. That will probably slip into phase two. Reporter melissa, there is outstanding question of where. If, start with if. If the phase one deal ends up getting to the point signed by President Trump and president xi, where might that happen . That was supposed to happen at apec down in chile. Larry kudlow acknowledged at least as of this morning theyre still trying to figure out where the venue could potentially be. Melissa . Melissa a lot of people volunteering. I heard folks in the bahamas volunteering. They need influx of business. So well see. Blake, thank you. Reporter you got it. Connell proposing even more taxes. Senator Elizabeth Warren releasing another plan today. This time even Top Democrats though are sounding the alarm over the price tag. Melissa plus hightaxed state exodus is leaving no one behind, not even the president. Were breaking down implications with steve forbes, forbes media chairman next. Connell im told the super bowl of boat shows. The 60th annual Fort Lauderdale boat show. It is underway, our very own Deirdre Bolton getting inside look at some of the extravagant yachts in the world. That is coming up. Melissa nice. You traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade audreys on it. Eating right and staying active . On it audrey thinks shes doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk . [sfx crash of Football Players colliding offcamera. ] maybe not. 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I took your advice and asked my doctor to order cologuard, that noninvasive colon Cancer Screening test. The delivery guy just dropped it off. Our doctor says it uses advanced science. Its actually stool Dna Technology that finds 92 percent of colon cancers. No prep, and private. Colon Cancer Screening thats as easy as get, go, gone. Ask your doctor if cologuard is right for you. Covered by medicare and most major insurers. Connell to the release of 52 trilliondollar plan from senator Elizabeth Warren, breaking down her longawaited funding plan for medicare for all today, while still making major claim about the middle class that Hillary Vaughn is reporting on. Joins us from washington. Reporter connell, Elizabeth Warren says she is keeping her pledge not to raise taxes but getting tax revenue from them, counting on 1. 4 trillion revenue to pay for part of her medicare for all tab but she is raising taxes pretty much on everybody else. She came up with a long list of ways to come up with the extra cash. Some of the ideas, 900 billion, 1. 1 on Financial Transactions and fee on 40 biggest banks in merck. 1. 6 trillion from a 35 Corporate Tax on foreign earnings for u. S. Corporations. She is putting a 6 tax on net worth above a billion dollars. Will also change capitalgains taxes annually for the top one percent. Those two changes will bring in billions of dollars, but joe biden is calling her bluff saying ultimately an increase in payroll taxes will be passed down to the working class saying this, the mathematical gymnastics in this plan are all geared towards hiding a simple truth from voters. It is impossible to pay for medicare for all without middle class tax increases. This afternoon Elizabeth Warren was caught offguard by bidens blow. Wow. The cost projections that we have on medicare were authenticated by president obamas head of medicare. Reporter warren is also getting money from unlikely places like the pentagon. Warren wants to end the overseas Contingency Operations fund which she says will bring in just under 800 billion. Connell . Connell hillary, thanks. Hillary vaughn in washington. Melissa here to react, steve forbes, forbes media chairman. Steve looking at the plan. She tweets my plan wont raise taxes one penny on middle class families. I want to get her verbiage. 1. 4 trillion in tax revenue, takes away your private insurance, so you dont get that deduction in your paycheck. So as a result, your taxes go up 1. 4 trillion. That is everybody. Whether youre middle class, you know, working last, lower class, upper class, whatever you want to call yourself youre in the group if you work. 2. 9 trillion on taxing Financial Transactions. She is assuming that middle class people dont have a 401 k or ira. They dont have any stocks whatsoever. 1. 25 trillion Small Business tax. So Small Business owners, the average is 34,000 to 75,000. At least some of those people are middle class. They will pay more taxes. What is she talking about, steve . For once i never thought it would happen, i agree with joe biden. It is preposterous her plan. Would wreck the economy, hurt investment, hurt jobs. Absolutely throw the Health Care System into convulsions takes away private insurance, to have the government run anything. The government runs things so well. Why does she think it will be doing better . She campus plains about the defense department, how wasteful they are in procurement. Why does she think they will do better with health care . President obama said you could keep your health insurance, keep your doctor. Not. I think biden called her bluff. She will have to do a little more explaining that you just cant conjure this stuff out of thin air. The middle class has real resources in this country. They will get their pockets picked with this kind of a plan. Melissa do you think Bernie Sanders is laughing hysterically right now, he is the first to say middle class will pay for it . She is doubling down on the idea that middle class taxes wont go up. Of course they will. Even, not even the right question because that wont even pay for it but she is sort of from a political sense, she is really doubling down on this idea im not going to raise taxes on the middle class. In her own plan you can see that she will. Is this a political disaster or she keep talking through it . She will try to talk through it, in the next couple debates she will hit hard on it . Where will businesses get money on it especially Small Businesses to pay for this stuff . They will take it away not paying people as much. The money has to come from somewhere. Hurting economy you will get less resources created, less tax revenue created. Well all be worse off for it. Melissa no doubt. Stay for one second. I want to talk to but the escape from new york. President trump announcing he is leaving a the big apple becoming a permanent resident of florida. Jackie deangelis at trump tower in new york city with details. Jackie, are people crying . Reporter that is exactly right, President Trump declaring he will be a resident of florida, no longer of new york. Trump tower behind me where he has lived since the 80s. He is not the only one leaving Census Bureau data showed 63,772 people left new york for florida last year. That there was exodus of the state to other states as well. 452,000 plus people just leaving the state in general. People do leave because income taxes in new york can be high. 9 could be the rate for top earners. Of course in florida youre not paying any income tax. Also there is an inheritance tax in new york. It can be anywhere three to 16 depending on the estate size. You dont have that in florida as well. What are the rules . Well, if the president spends more than 184 days here in new york, he will have to pay taxes but right now, what we can see, President Trump has spent 99 days at maralago compared to 20 days at trump tower. That is according to the nbc news. And he is saying that he will spend the requisite time at maralago to be able to be a florida resident. Now blue states they have been bleeding billionaires if you will. Carl icahn announcing he will leave new york. David tepper, not so long ago leaving new jersey for florida. Paul tudor jones leaving connecticut for florida. Back to you. Steve, im getting robbed. Taxes higher than ever. Services not so much. It is a giant ripoff. I work here, im not going anywhere. How about you, are you going to florida, steve forbes . Unless you and fox are moving to florida i have to stay here, suffer, fight the good battle to get these people out who keep raising our taxes and driving people away. Ultimately i think people will in new york and elsewhere wake up, and new jersey, saying this is, kind of behavior is absolutely destructiontive. Loselose, for everyone. Florida, i love florida. I like to stay here as well. Melissa one thing if we were getting something for all that tax revenue. But were being bled dry. You are absolutely right. Florida budget is half of new york, even though florida has more people, people like living in florida. The se