Totting continues to sweep trans across the globe the streaming wars are beginning to really heat up r. T. Correspondent Rachel Blevins joins us today as are beginning to really heat up our t. V. Correspondent Rachel Blevins joins us today to plug into the details of what lies in store for show viewing. Today and to plug into the details of what lies in store for show viewing. Shows today its a lets get to it. The nasdaq and the s. And p. 500. 00 to lets get to it. The nasdaq and the s. And p. 500 both hit fresh 52 week highs today as october job data came back sugar bowl hit fresh 52 week highs today as october job data came back stronger than expected payroll came in at 128000 versus expectations stronger than expected payroll came in at 128000 versus expectations. 85000. 00 even with the negative impact of the g. M. Strike of 85000. 00 even with the negative impact of the g. M. Strike the Unemployment Rate rose modestly to 3. 6 percent as expected however the Unemployment Rate rose modestly to 3. 6 percent as expected however as has been the case for much of the past year job gains were led by low wage jobs where as has been the case for much of the past year job gains were led by low wage jobs in leisure and Hospitality Education and Health Services this reflects well on in leisure and Hospitality Education and Health Services this reflects well on consumer demand and the willingness to spend discretionary money as consumption is a demand and the willingness to spend discretionary money as consumption is supporting the bulk of growth today other data released friday included the i ascend menu 14 the bulk of growth today other data released friday included the i assume manufacturing p. M. I. Which clocked in at 48. 00 this revealed they were actually in p. M. I. Which clocked in at 48. 00 this revealed a worse than expected contraction in the sector as the u. S. Manufacturing fell to its lowest level worse than expected contraction in the sector as the u. S. Manufacturing fell to its lowest level in a decade. This is also the 3rd straight. Question for the i asked as as exports dived amid escalating trade war the continuing contraction showed the exports amid escalating trade war the continuing contraction showed the challenging environment u. S. Manufacturers are facing as this sector was once considered a voluntary environment us manufacturers are facing as this sector was once considered a big winner under the trumpet ministration with its goals of bring back manufacturing jobs back the winner under the trumpet ministration with its goals of bringing back manufacturing jobs back to us. Shores production fell to 46. 2 and imports fell to 42 u. S. Shores production fell to 46. 2 and imports fell to 45. 3 registering the lowest ratings since april and may of 2009 point 3 registering the lowest ratings since april and may of 2009 exxon mobil was the best performing stock in the dow even as they reported exxon mobil was the best performing stock in the dow even as they reported a 49 percent decline in the 3rd quarter earnings on the back of Lower Oil Prices and a 49 percent decline in the 3rd quarter earnings on the back of Lower Oil Prices and higher costs the results topped the street pessimistic forecasts and shares popped more than 2. 00 higher costs the results topped the street pessimistic forecasts and shares popped more than 2 percent in fridays trading session Growth Continues ahead of schedule in the Permian Basin percent in fridays trading session Growth Continues ahead of schedule in the Permian Basin as it made Good Progress on divesting nonpoor assets Falling Oil Prices and overs and as it made Good Progress on divesting nonpoor assets Falling Oil Prices and oversupply continues to be a concern as exxon is exceptionally vulnerable to any slowdown apply continues to be a concern as exxon is exceptionally vulnerable to any slowdown in Global Growth year to date exxon is flat as the entire Energy Sector is face on and Global Growth year to date exxon is flat as the entire Energy Sector is facing headwinds from higher production costs and weakness in refining. Headwinds from higher production costs and weakness in refining. Earlier this week the Asia Pacific Economic cooperation. Earlier this week the Asia Pacific Economic cooperation summit set for mid november in santiago chile was cancelled amid widespread protests on that set for mid november in santiago chile was cancelled amid widespread protests in the nation. Due to its proposed increase in Public Transportation fares and what demonstrate in the nation due to its proposed increase in Public Transportation fares and what demonstrators call economic inequality news of the cancellation swept across the globe as call economic inequality news of the cancellation swept across the globe as it was anticipated that president s donald trump and she would sign phase one as it was anticipated that president s donald trump and she would sign phase one of the trade deal between the United States and china following these initial reports of an of the trade deal between the United States and china following these initial reports officials from both sides were quick to dispute the prospects of such a society and from both sides were quick to dispute the prospects of such assignee in santiago but theres more to apec than a trade deal between china and the us. But theres more to apec than a trade deal between china and the u. S. And joining us now to discuss the impact of this cancellation and other unrest throughout latin america is joining us now to discuss the impact of this cancellation and the other unrest throughout latin america is economist and former Ecuadorian Central Bank official andres a ruse out of mexico city economist and former Ecuadorian Central Bank official andres a ruse out of mexico city. So andres 1st lets start off with the cancellation of the summit in chile so andres 1st lets start off with the cancellation of the summit in chile how important is the apec summit for latin american countries. How important is the apec summit for latin american countries. Right thanks for having me. Great thanks for having me well the apec cancellation in itself is it may not necessarily be a big deal well the apec cancellation in itself is it may not necessarily be a big deal for the whole of latin america except by the fact that this agreement between the you for the whole of latin america except by the fact that this agreement between the us and china will probably take a while longer and let in americas affect us and china will probably take a while longer and let america is affected indirectly by that because of the pressures in terms of it indirectly by that because of the pressures in terms of trade but i think also the conference of the parties for the environmental the growth trade but i think also the conference of the parties for the environmental agreements has also been canceled and that is probably a bigger deal for the world in general remains has also been canceled and that is probably a bigger deal for the world in general because there is a lack of opportunity to reach an agreement there and something because in the lack of opportunity to have to reach an agreement to get there d and something think that we have to have to Pay Attention to is the little bit out of it is this you know which which is a soccer match is the biggest in south america that will take place on the 23rd of november the biggest in south america that will take place on the 23rd of november. That will probably cause you havent ripped into a question of the votes and of the approach to. Now we now weve touched on the surface of the unrest in chile which is largely due to an increase in Public Transit touch on the surface of the unrest in chile which is largely due to an increase in Public Transit fares and many protesters cite Overall Economic inequality so could you just break down that as a many protesters cite Overall Economic inequality so could you just break down the current Economic Situation and chile for us. The current Economic Situation and chile for us. Great so the people are protesting there only because of a specific. Rate so the people are protesting there only because of a specific measures in terms of the public transport or the electricity costs that were recently fick measures in terms of the plug the public transport or the electricity costs that were recently undone but in general because of economic inequality and what i would call undone but in general because of economic inequality and what i would call political inequality so there in chile we have a crisis of political ripple it go inequalities so there in chile we have a crisis of Political Representation the roots of the us come from that been or should dictate the ship more than presentation the roots of the use come from that been or should dictate to you more than 30 years ago pinochet drafted he wrote up 1 a constitution for cheating the 30 years ago pinochet drafted he wrote up a constitution for cheating the thats still in force and this constitution looks like an agreement between the thats still in force and this constitution looks like an agreement between the i. M. F. And the chilean military i mean that has hyper provide to z m f and the chilean military i mean there has hyper provide position of public. Set of Public Services and just one more example. Of public assets of Public Services and just one more example. Theyd own the copper exporting company could it go 70 that theyd own the copper exporting company could it go 75 percent of the profits of that company go directly to the military 5 percent of the profits of that company go directly to the military so with the big question is where are we seeing this economic inequality from because so with the big question is where are we seeing this economic inequality from because i am africas characterizing chile as a high income country and right as i am africas characterizing chile as a high income country and right now theres only about 8 percent who are living below the poverty line and that is better than most now theres only about 8 percent who are living below the poverty line and that is better than most latin american countries right now. By an american countries right now. Yeah indeed i mean if you look at the structure of unequal yeah indeed i mean if you look at the structure of inequality in chile about 30 percent of all of the income is earned by the one. About 30 percent of all of the income is earned by the one percent in the top so that means the chilean rio. Percent in the top so that means the chilean rio g. D. P. Per capita if you take out the richest one percent is probably g. D. P. Per capita if you take d out the richest one percent is probably at the same as the latin american average or maybe even a little lower at the same as the latin american average or maybe even a little lower so this is. The more realistic picture of so this is probably the more realistic picture of the situation of Economic Development in chile another thing is that the situation of Economic Development in chile another thing is that this very new liberal constitution has been in place this very new liberal constitution has been in place and in chile is now under review and it has an impact in chile is now under review and it has an impact throughout the chilean economy look for example one of the consequences of the apec cancel out the chilean economy look for example one of the consequences of the apec cancellation in chile is the fact that now there is low political will to lation in chile is the fact that now there is low political will to approve chillis and here in still the t. P. The Transpacific Partnership approved chillis and here in still the t. P. The Transpacific Partnership agreement the same agreement that did not want to be ratified by the trumpet ministration agreement the same agreement that did not want to be ratified by the trumpet ministration so we see similar tenets here in the terms of how neo liberal globalisation so we see similar tenets here in the terms of how neo liberal globalisation has affected the structure of economic inequality in that it has affected the structure of economic inequality in that the american countries as well now lets turn over to argentina and in american countries as well now lets turn over to argentina on sunday we cite change in Political Leadership without often and outstaying president mary siham across sunday we cite change in Political Leadership without often and outstaying president mary sue mccree so just. This week u. S. Treasury secretary stephen the new chairman said the country should be so just this week u. S. Treasury secretary steven the new chairman said the country should up hold its commitment to the terms of the 57 1000000000. 00 i. M. F. Loan uphold its commitment to the terms of the 57000000000. 00 i. M. F. Loan so it should be noted that menuhin wasnt completely against the idea of renegotiating the deal for it so it should be noted that menuhin wasnt completely against the idea of renegotiating the deal for nandos and Cristina Fernandez de kirchner essentially ran on a platform opposite of the austerity nandos and Cristina Fernandez de kirchner essentially ran on a platform opposite of the austerity measures imposed by the i. M. F. Deal so how do you see this whole thing playing out the measures imposed by the i. M. F. Deal so how do you see this whole thing playing out. Look this has a. Look this has a judicial undertone that has to be explored in the case of the. Undertone that has to be explored in the case of the team is that folds 20 years ago it was basically against the bondholders so wall street 20 years ago it was basically against bondholders so wall street bondholders that can actually go to u. S. Or new york courts to enforce their bond holders that can actually go to a u. S. Or new york courts to enforce their deal thats what happened when michael finally conceded but in the case of the i am if its a deal thats what happened when michael finally conceded but in the case of the its an International Organization and they have no way of trying to enforce the oh its an International Organization and they have no way of trying to enforce. In any court whatsoever so the numbers there have an upper hand in any court whatsoever so the numbers there have an upper hand and the i. M. F. Will. Probably even if they dont reach an agreement with the finance this says they will and the i. M. F. Will probably even if they dont reach an agreement with the finance this is they will probably unilaterally restructure the debt in favor of argentina will probably unilaterally restructure the debt in favor of argentina because they wouldnt tolerate the fact that argentina would default on an International Organization because they wouldnt tolerate the fact that argentina would default on an International Organization like the m. F. They still have a difficult job to overturn everything that they might like the m. F. They still have a difficult job to overturn everything that the mike Lee Administration did that created the konami crisis for most of argentinas Popular Administration did that create the economic crisis for most of argentinas population but now that we see in some of the ways that theyre going to deal with this relation but now that we see in some of the ways that theyre going to deal with this with the final magli administration measures after the 1st round of vote with the final magli administration measures after the 1st round of votes almost 2 months ago mike lee started to do most of his almost 2 months ago mike lee started to do most of his privatize asian and liberal reforms and that is probably the same tenet of what privatize asian and liberal reforms and that is probably the same tenet of what is going to happen for as strongly founded on capital controls exchange could drive is going to happen for as strongly founded on capital controls Exchange Controls price controls and an increase in public spending to basically souls price controls and an increase in public spending to basically solve. For there to make an image or a crazed he says feel for the. Average in this operation so you know. Weve stepped it up with a pretty fist and bit of ecuador with a reprieve in government ecuador with a government essentially kind of halting actually halting their plans to plans to end fuel subsidies however it appears and fuel subsidies however it appears to be expected that another similar plan was to be expected that another s