 all right now the Saudi saying they're going to take action in the future and try to round up anyone who might have been culpable in this action against the Washington Post report is one thing but the financial impact how we respond to all of that is going to be quite another remember we have tens of billions of dollars in state globally this is actually for the time being more important than whatever back and forth we've been having with China Cheshire Krasko is looking into all of that right now Tracy good morning yeah yes defense stocks could be in focus as questions mount for both the United States and Saudi Arabia over the death of journalist Jamal Khashoggi at the Saudi Council consulate in Istanbul earlier this month Saudi Arabia warned it will respond to any quote threats or sanctions against it as its stock market plunged on Monday saw continued volatility this week this following President Trump's warning of severe punishment over Khashoggi's disappearance however just yesterday the president reaffirmed that he does not want to cost us jobs by ending us sales of military equipment to the Saudis they agreed to do this they agreed to spend 450 billion dollars on buying and investing in the United States so I hope we can keep that I hope we don't lose track of that there are plenty of other things we can do the escalating tensions also has some investors concerned that economic sanctions could affect investments linked to Saudi Arabia's public investment fund which is one of the largest in the world with more than 220 billion dollars in stakes around the globe meanwhile oil ended down more than 3% for the week to 6912 a barrel despite the US Saudi stress that maybe of course because of some reports of an increase in oil supplies and we've seen business and political leaders dropping out of the upcoming high profile future investment initiative in Saudi Arabia which highlights the country as a place to do business a number of CEOs including JPMorgan Chase Jamie Diamond Ford chairman Bill Ford will not be attending US Treasury Secretary Steve Mnuchin also canceled his attendance though he will be attending an anti-terror finance meeting with Saudi security officials later this month Neil a number of media outlets including Fox Business CNBC the New York Times Bloomberg CNN and the Financial Times have also withdrawn from the event alright Tracy thank you very very much we do have an update also from King son and who was sometimes you can make this up but anyway the king had said he is ordered his son the prince to revamp the intelligence services which is akin to me you know policing the refrigerator to make sure no one gets into it but that that's where we stand alright let's get the read on the market fall out from all of this Gary Calp on join us Jonas Max Veris and the Stuxwish founder Melissa Armo Melissa contained reaction maybe thinking that there'll be a contained response what do you think honestly I think this is just noise for the market market has much more bigger concerns with the Chinese tariffs and how if that goes into 2019 I think we saw some selling this week but if you look at the selling from last week in the market this week was really a big nothing burger we just were flat this week and really from August until October the market ran up made new highs came back down so we're really trading in that same range in the down in the S&P we were just two months ago which isn't that big of a deal it's not like we've had this huge massive sell-off we're really back at the same price point we were just a few weeks ago so I don't think that this is going to affect the market long term unless it gets blown out of proportion and that's why Trump is being very diplomatic here he didn't rush to conclusions and say the guy's definitely dead and blame the prince we're waiting to see what's happening if there's recordings because that would definitely say what happened and that might be the term since there are and apparently the first time I read this morning was that the CIA has heard or and or looked at at some of them so we don't know for sure on that but I do want to posit with you guys that if it gets severe the president has rightly argued you know we have a lot of big financial commitments with the Saudis 450 billion over the course of the last couple of years 110 billion of that just last year with the defense agreement so a lot's on the line well you've heard the president businessman in chief basically saying we're gonna do business as usual and something you haven't heard from anybody else around the world that we're pulling back from investing with them they're not going to this is about the bucks so I think it's gonna be business as usual as we get farther and farther away from what just happened I think it's gonna be back to all the other things that are affecting the market and I must tell you I just want to add in the markets on the ledge here the Dow is only 5 or 6% off the highs but there's a whole slew of industries at new yearly lows world markets the whole works and if we break the lows that we've seen over the last two weeks I think we've got another big leg down and I'm real worried here I hope we do not break but we're on the verge and could be an economist potentially if a tape comes out you just remember in good markets they'll good markets will ignore bad news in bad markets bad news is look out so I'm watching this is gonna be a big week to two weeks heading into the election yeah but it's turning season Google and Amazon report Thursday night if they if they perform well I mean the market Netflix gaps up 30 bucks on earnings a growth name drops $45 in two days that's what the market's doing right now that continues this and Jonas maybe you're gonna be with us because there are a quick few ways to look at the Saudi for oil to most this point of nothing burger there and ended up not doing much defense stocks originally hit and then they came back so the areas that you think would be quickly hit including the Saudi currency and the Saudi markets which were everything kind of came back right because that's like the 1970s impact of the Saudi Arabia situation there's the oil pipeline is not the problem that oil is gonna go into some market now China where it's not like the old days when we were getting a lot of oil from then they would just cut us off and oil price with skyrocket the pipeline out of Saudi Arabia is cashed to the venture to to the tech companies at this point you know let's not forget Saudi Arabia now is on the way to having the biggest world sovereign wealth fund they have almost 5% stake in Tesla they just give a billion dollars to another another American electric car start up lucid they are a they're turning their oil revenue slowly into an investment fund of epic proportions that keeps Silicon Valley it's one of the major sources we want to be part of that of course we do which is why in some ways presidents not being diplomatic which is possibly good the end of the day investors know Saudi Arabia isn't really the enemy Saudi Arabia is one of the safest places to be a journalist in the world believe it or not they if you go to the APG a committee to protect journalists which is a very excellent site with a database it's almost a thousand journalists killed since 93 it's only one in Saudi Arabia and that was by al-Qaeda in 2004 because I didn't think it's disproportionate nothing against my profession but the one thing I will say this new reticence open forward thinking government Gary has arrested and detain you know a lot of dissidents it has and this is the crown prince of crackdown on his own family and imprison them albeit in a rich problem right but but extracted a hundred billion dollars from my point here is that they're not saying and to all of your point earlier that you know we don't expect that in this region of the world but it is a reminder how this one journalist death tragic though it is has disproportionately skewed the picture look it's a lot of saying of one thing but doing another and drop the news on the 15th page of the newspaper so nobody's really talking about look there's still plenty of bad people still plenty of bad places around the globe but it doesn't want to hear a straw no the hope is is that yes this prince is going to bring the culture up to snuff but then this happens and you know I think I'm going to see you guys a little bit later but I do want to show you something else we're following very very closely this caravan that all of a sudden has ballooned to become a major international crisis at first it was a few hundred now we're told a few thousand now we're told stuck on a bridge not happy being stuck on a bridge and now there's trouble at the border not our border yet the Mexican border with Guatemala and it is getting nasty very very nasty and the president has said either you contain it Mexico or else what does or else mean after this