Friday, an incredibly strong job market and an economy. Maria bingo. Dagen i want to point out, there was a Consumer Sentiment report that came out from the university of michigan on friday, seven month high on Consumer Sentiment. Virtually none of the respondents, zero, or 1 of the respondents mentioned impeachment. You have wages that are growing in the november report for production and nonsupervisory workers, the growth in wages was near a post recession high, up 3. 7 . Thats higher than the overall growth rate of 3 . What does that mean . It means that income inequality is shrinking in this country. Thats what people feel. Thats what if anybody you talk to, theyre not talking about impeachment, theyre not talking about oh, what did trump say and wringing their hands about that. They know they can get a better job, they know they can get higher wages. Maria thats absolutely right. Dagen theres safety and security in their finances. Thats what matters. Maria incomeen equality, ive been talking about this for a couple months. It is narrowing. The bottom earners are seeing their wages up much more than the national, which is 3. 1 . Thats why the Consumer Sentiment is up. Its not only job growth but its income. Thats going to the end of the year, its great for the holiday shopping. Theres a swagger of the economy and we also have the fed with the fomc meeting coming up where now the sentiment isnt cut because theyre weakness. Its more maybe theyll do nothing for six to 12 months, to dagens point, just because of the strength of the economy. Maria you have to wonder if the solid strength of this economy changes the conversation at all going into this tariff deadline on sunday with the chinese. Do we need to rush into a deal right now, given the strength of this economy . Just throwing that out there, kevin. I think it certainly gives more leverage to President Trump and he can play more of a waiting game and say look and see, things are thriving here, not as much of a need to jump into anything. When the inverted yield curve hit everyone was saying here it comes and there was a fear people would talk ourselves into a recession. Its clear the fundamentals are still strong. Everyone in the media was freaking out. The consumers more confident than ever. Sales breaking records. So certainly that swagger you mentioned dagen what happened was the fed reacted. The fed reacted and started cutting Interest Rates. In the last three meetings they cut Interest Rates and expanded the balance sheet. They used the providing liquid at this to the shortterm funding markets as the reason. But thats whats important there. Thats one of the reasons that those recession fears faded. Theres always a delay. So these actions typically take three, six months and then the economy gets stronger and even when you look at the housing market, which is really important, both for psychology and n strength of the economy, it looks terrific going into 2020. And 2020 is where everyone is focused now. Lots of predictions coming off the street, just are we positioned well today for a strong outlook for 2020. So far, especially with friday, looks pretty good. Maria the administration will say, by the way, that its also strengthened exports thats adding to this. They will say the tariffs are actually helping the gdp story going you through. Through. I was talking to somebody yesterday, reminding us of that story, Peter Navarros recession in the journal back a couple months ago. Not happening. That recession was everybodys head was on fire a year ago about a recession and were still talking about 2 growth. Dagen frankly, though, like there have been layoffs in the Steel Production in this country. So there are pockets of weakness that you cant dismiss, particularly you shouldnt dismiss it if youre a politician and youre trying to get reelected in less than a year, that there have been layoffs in the Steel Industry because again, we talk about it, Capital Spending has been weak. Business investment has been weak and why is that . Its because of the tariff picture. These tariffs have really put the screws to Small Businesses in this country, so lets not cheer that. You know what, theyre lucky they havent had a recession because theyre playing with fire. Maria were in countdown mode right here. I sat down with kevin mccar mccy yesterday. I talked about usmca with him, to see how viable it is in the next two weeks. Will you be able to see that come down to the house for a vote before this nine days are up, before yearend. There is an opportunity. If it is, the credit goes to the president and the republicans. The country needs this. It would make us stronger. Canada and mexico are our number one and two players. Were trying to negotiate with china, our number three player. Maria who is holding it up . One person, pelosi. Shes only focused on impeachment. Shes more concerned about tearing the president down than bringing the country up. Maria the issues include the biologics. The democrats want fewer years in terms of a company, a biotech company, pharmaceutical company, to be able to have a patent. The republicans want 10 days im sorry, 10 years, rather. And the democrats want fewer than that. The other thing those do with labor laws which were already changed indicating enforcement of 16 an hour for u. S. Workers, compared to 1. 50 or something in mexico or 2. Dagen the journal wrote an editorial called the democrats want to invade mexico because theyre demanding the u. S. Right to enforce basically another countrys labor laws in the trade deal which is astonishing. A lot of whats going on, its the democrats throwing up hurdles on the trade deal because they dont want to he vote on it. They want to drag it out and drag it out because they want to ensure that it doesnt have any positive effect on the economy going into an election year. God forbid you take the spotlight off impeachment. Maria theyre talking about 200,000 jobs as a result of usmca. Interesting how this would play against the narrative with the impeachment talk, theyre trying to say President Trump is unfit for office, not something that will get anything done for the American People, doesnt have their best interest at heart a. If the deal comes through and theres an economic bump ahead of the hell. Election, its consistent cy to that image. Maria we could get a china proposal going into the 15th which is sunday. We could get usmca come to floor within the next two weeks and of course weve got a yearend rally in stocks. This is an incredible week, not to mention the fed meeting as well as brexit. It sounds like its going to be really bullish. Again, the usmca is huge because it is actually more significant nearterm to the u. S. Economy. Maria weve all of these positives, potential positives, weve got to talk about impeachment. I also spoke about that with Senate Judiciary chairman Lindsey Graham because weve got the impeachment eventually moving to a trial in the senate and a then hes going to be interviewing Michael Horowitz on wednesday as that ig report comes out today. You are going to get the ig report tomorrow, well all get the ig report tomorrow and then youre going to have Michael Horowitz testify on wednesday. Have you seen the ig report . No, i havent. Dont judge it until he testifies. I think i have some understanding of what its all about. Ive not seen it. I have not wanted to see it. I think youre going to see the system off the rails. I think youre going to see members of the department of justice and fbi taking the law into their own hands. And that statement that comey made in the house in december 7th, 2018, that everything with the fisa warrant process was proper, to suggest otherwise would be crazy, is not going to withstand scrutiny. Maria bring it on, i am thrilled to see the ig report this morning because weve been talking about this for so long and the question is, how significantly did a kabal of individuals at the fbi and cia manipulate data to convince the fisa court to get a warrant to spy on innocent americans . The interesting thing here will be how both sides spin it. We know both sides will say this is vindication for us, more proof of what weve been saying all along. The biggest Lasting Impact to come out of this report will be the erosion of trust in major institutions like the fbi for the American People. Maria thats already happening. If we dont see accountability, the trust doesnt come back, in my view. We need to see accountability. Im talking prosecutions and indictments for the people who decided to put their finger on the scale and make up a story that donald trump had anything to do with meddling with russia. Dagen the Inspector General doesnt have that power. But john durham and his criminal investigation within the Justice Department would. Maria yeah. So today we will look specifically for abuse around the fisa court. Thats what the im g report ism ig report, how they gote warrants to spy on carter page and how did they reup them three times. Jim comey signed the application for the warrant three times. Sally yates signed it once. Rod rosenstein signed it once. All of those people will be in that report today. Well be zeroing in on that. Then theres big tech and the pentagon. Amazons Ceo Jeff Bezos speaking out about Big Tech Companies choosing to abandon working with the pentagon, talking to you, google. If big tech is going to turn their backs on the department of defense, this countrys in trouble. That just cant happen. Maria amazon filed a lawsuit friday, challenging the pentagons decision to award its Cloud Computing contract to microsoft. We have spok spoken about this e past. I think it was palmer lucky who made such an important reaction in my view and he said imagine if during world war ii American Companies said to the u. S. Government, you know what, we really need to get our foothold in Imperial Japan so were not going to work with you, america. Thats what happened last year when google told the pentagon were not working with you, our employees are uncomfortable with it, we dont want to be near facial recognition around the border. But then were going to set up an a. I. Lab in china. Dagen this is a major corporation, basically founded and built on the freedoms afforded them by the United States, by our defense. And it is being driven and managed by underlings who have no basically have so much time on their hands that they can stir up trouble and protest and foment unrest within these companies. What youre going to see is down sizing. These companies can literally afford to keep people on their payroll who arent doing anything except causing problems. You watch this. You watch how about returning more of that money, rather than paying people who have no function other than to cause problems and to protest the United States, how about returning that money to shareholders. That would be a better financial decision. I think googles not a player in cloud. This was a vendor bakeoff between microsoft and amazon. Theres obviously a bigger global issue. But at the end of the day, amazon lost and it kind of remingereminds me when boeing ws winning with boeing 767s with the military. Theres a bigger issue related to free speech. Maria even though amazon lost, look what its saying. Theyre saying you cant walk away from the pentagon. Its obviously big business. Theres a bigger story where youve got Technology Companies running amuck because employees dont want to be associated with donald trump. Its absolutely outrageous. I think a big part of it also is the fact that they are imagining oppression and leaving a larger foothold for countries that are on pressing. China is going to fill that big tech space and we need to take them headon. Dagen i will point out that google recently fired four workers who were active in labor organizing, going directly to my point. That theyre going to start going after employees. They fired them for violating their data policies, data breach. But this is whats going on, is people are working within these companies who dont do anything other than cause problems and they will be fired. Youre going to see it across Silicon Valley. Maria weve got to get to this other story, that is tragedy in new zealand, a volcano erupts at a popular tourist destination. Weve got the latest there. Campus free speech crackdown, students who disrupted a Jeff Sessions speech at Northwestern University are facing consequences. Were taking a look at that when we come back. Well be coming back for you one day. Woman friction points, those obstacles that limit a companys growth. I try to find companies that turn these challenges into opportunities. But by going out in the field, and meeting management, suppliers, competitors. In the end, its these unique companies with Creative Business models that will generate value for our investors. Thats why i go beyond the numbers. That will generate value for our investors. Experience the power of sanctuary at the lincoln wish list sales event. Sign and drive off in a new lincoln with zero down, zero due at signing, and a complimentary first months payment. Ugh, another electronic signature. 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Tragedy in new zealand, five people are dead this morning after a volcano erupted on white island. Cheryl casone with headlines now. Cheryl the pictures are incredible, m maria. Police confirmed five people are dead, dozens are stranded still after this volcano erupted in knenew zealand. 50 people were visiting the white island crater at the time that it erupted. Officials say its too dangerous for rescue personnel to enter the area. Theyre not sure how many people are stranded at this moment on that island. Well, back here at home, the fbi is investigating the mass shooting the Naval Air Station in pensacola as a possible act of terrorism. Saudi officials are looking into whether the gunman who was a Royal Saudi Air force officer training at the station may have been rad radicalized during a rt strip home. Three people were killed i in a classroom at the air station. T mow biltmobile and sprint are g to court today. The proposed merger was approved by aint trus antitrust offici. Were expecting at least today Opening Statements as that gets under. Maria thank you. When we come back, markets are searching for direction this morning ahead of a wildly, hugely busy two weeks. China is pushing for a phase one trade deal as soon as possible because the tariffs will go into effect if no deal happens this sunday. Plus, frozen 2 still heating up at the box office, givin givingy a boost. Well discuss what franchise could defrost the franchise. Well be back in two minutes time. Lost in the woods. Managing type 2 diabetes . 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. Jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. So it could help save your life from a heart attack or stroke. And it lowers a1c. 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Beijing says today it is hoping to make a deal with the United States soon that will satisfy both sides. This as the major deadline looms and another round of u. S. Tariffs on chinese imports is set to kick in on sunday, december 15th. Less than a week. Joining us right now is Wilmington Trust chief economist, luke tilly. Its good to have you. Thanks for being here. Were talki