Transcripts For FBC Mornings With Maria Bartiromo 20180124

It. A weaker dollar start sliding this morning. Disney detailing plans to pass on the new law by giving a 1000 cash bonus to 125,000 employees. Bigness after similar announcements from Jpmorgan Chase yesterday embraced as well. The latest win for American Workers this morning. General electric, ford, comcast on the name set to report fourthquarter numbers today. Expect to 29 cents per share. Markets this morning look like this. The nasdaq surged 52 points yesterday after shares jumped 10 . S p 500 at an alltime high. Markets continue to be on fire. The nasdaq with a threequarter of a percent move in unchartered territory yet again. Features indicating the markets will open like a symbiotic unit gains once again. Dow industrials up another 55 points right now. Nasdaq up 10 points this morning. Major indices look like this. Down a quarter of a percent. The other major spot on the session. Markets closed mostly higher. The best performer in there as you can see in china. Shanghai composite up a third of a percent. Team james ground early celebrating his new spot in the 30,000 club before making history. The reaction to the premature celebration coming up this morning. Joining us, Homeland Security secretary Kristian Nielsen is the best. Energy secretary rick perry. The largest Wealth Management axel weber and bank of America Brian moynihan is here. Plus dupont chairman and ceo andrew live for us with us. Coming up in a jampacked program. Kicking off right now at this top stories bringing America First to davos. The World Economic forum tonight. The president firing back at Chuck Schumer for offering that were sending a deal to support border while funding for Legal Protections for legal immigrant brought to the United States as children. The president treated this last night. Crying Chuck Schumer fully understand especially after his humiliating defeat that if there is no wall there is no daca. Safety and security together with a Strong Military for great people. Joining me now is the Homeland Security secretary kristen nielsen. Great to see you. Thank you for joining us. Lets talk about immigration. Explain the wall. Tell us why its important for security, not just a talking point, but actually security. The wall itself is a system. So its infrastructure, which is some sort of physical structure, but the personnel and technology to go with it that we have to meet out three together to get security. United states come the yuma, arizona, san diego and california have limited the system by 95 . Evidence it works. We worked very closely with state and locals when we can. We try to find a dual use from the start looking at my face. Security and helping the community. What is your response to what senator schumer said. But strain the immigration officer. I know that ive heard schumer and others talk about the need for security, Border Security in the past and last night he changed his tune. Hes voted for the security fence act in the past as have many democrats. Its a bipartisan issue. A clear need in our country weve agreed that the four pillars for discussion comes so hopefully come around in the forward in our discussions. Maria what does the state of security today. Actual border situations to cyber. Can you give us the status check in terms of american Homeland Security . Absolutely. Terrorists come in nationstates, whether across the board changing their tune. We can come and meet the incoming changing brad. We need to see that in partnership. Not one entity that has the resources and capability so we have to look at it from an international domestic, Public Private in the u. S. Government, all of government approach. Is a transnational gangs, whose coming across the border . Yes we do. This article all things, people, drugs, weapons. We work very closely with our partners and with the international community, but we need to do more within the u. S. And thats part of our discussions right now. How much an issue as homegrown terrorism at this point . Where we are not . At the service of the internet when we talk about that. We see them recruiting, financing over the internet is something we are working with companies here to further that discussion. It is a problem. We need to understand not only what causes one to become radicalized, but if theres a way to take them off the path and give them a constructive way forward. Different parts of the process we are working on. Maria its really fascinating even with the government shutdown, the u. S. Is able to kill 150 isis fighters in syria due to the airstrikes there. Extraordinary. Eskimo beacon country must continue to have a safe haven. Secretary matters if he were here until you things for what theyve done for all their military, but what we need to do is make sure that they do as they fall apart if you will, if they dont have a safe haven that they cant United States. We are working to increase the screening to the sure terrorists dont come into the United States. During the seven terrorists a day to come to her country legally on the terrorist watch list. It is an ongoing problem. Need to make sure we have the tools to defend our country. What you need to do that effectively . The debate over funding for the border while, but also funding in general for the military palestinians in terms of Homeland Security. Some of it as you say is funding. We have a very clear proposal with respect to the wall system, but also need the ability to promptly remove those that i stop at the stopped at the border in mrs. Waring confused because this is Border Security. If by some 20 people at the border but have to let them in the country that is not Border Security. Do i need to work with congress to resolve the loopholes that if someone comes and i dont have a legal right or any other claimed, i need the ability to remove them at that point at the border and we dont have an interior problem. Maria in other words, you can just send them right back. No, maam. Just the way the court has evolved. You find a case and unfortunately the exception becomes the rule of 72 with the exception. So weve given back to congress and am hopeful we can make the case. That is Border Security. It is not immigration enforcement. Is Border Security. Turning to companies in terms that in terms to be verifying, who is working for that company . Rather a lot of stories of companies hiding illegals . Reduce the bad actors. They can consistently. We will have to fix a problem in the past, it is a voluntary program, enables you to ensure maria even sanctuary cities. I find it extraordinary that can blow up the federal law. What is really disturbing as i couldnt find anyone who could tell me they dont want the criminals out. This is where i get very confused. What if i heard the discussion is a sanctuary city . I could get a criminal. My folks could get a criminal in jail which is a safe area, controlled area. They could pick the person up, detain them for federal purposes on the way to be deported. If a sanctuary city let the person out into the community, officials are forced to go into the community which puts everyone at risk, at risk, not just officers that the immigrant community above. If you hear people talk about sanctuary city at the century for criminals, not immigrants. We need to work this and understand the safest way to do this is to remove the criminals in a controlled environment. Tricky with their accountability . In my opinion, they should work with ice and let i. C. E. Come pick them out. If they cant get them, we can get them, but we would like to try. To take a controlled way so we can put them into proceeding. Maria let me ask you that your testimony before the Senate Judiciary committee when new jersey democrat who is really exploded on you over language that the president may or may not have used in the oval office on immigration. Heres the exchange. The commanderinchief in an Oval Office Meeting referring to people from african countries in patients with the most vile and vulgar language. I had tears of rage and i heard about the experience in that meeting. You dont remember. You cant remember the words of your commanderinchief. I find that unacceptable. Your seventh in the niche is complicity. Maria i mean, what did you make of senator brokers to cater towards you . To be honest come as a distraction and very frustrating on behalf of on behalf of me and the on behalf of me and the men and women of Homeland Security because i was to talk about the need to do their job the American People back American People of assam to do and i became 11 minutes of a lecture about a meeting he was not in about one word in whether or not i heard it. I sent under testimony was that possible . Sure. I just did hear the word. There is no story there. He didnt ask me what i think, what it aint about the country in immigration policy. He had no interest in what the secretary of the Homeland Security things. You just wanted to lecture me for 11 minutes. It was an unfortunate waste of our time when we couldve been focused on the needs and drives. Is felt to me like her off minute. You felt harassed . At the workplace environment. It didnt seem to. There wasnt any opportunity to explain how i feel, which is what he would be interested in as the secretary of Homeland Security. He was even in the meeting. A bit confusing for what you thought it was appropriate to tell me what i heard her dig here. It sounded like he wanted a platform to do a show maybe he wants to run for president. How is the new job going . Tell us your observations from this new role. Im so proud of the men and women of dhs. They put their lives on the line everyday. A huge portfolio, but its a great job. The owner of a lifetime to support them and protect the American People. America first is not a mirror chrome on. We need a partner. Not one of us has the ability to do this alone. We need to partner with allies. We see that in north korea, syria, iran. We have to build coalitions to attack these threads together. That is what shall hear a lot about. Traitors are a threat from north korea on the ground we should be aware of . What we hear about is the ongoing programs. Should they develop the United States . I want to make sure we are prepared. Does that mean for the homeland . We need some work there to connect, thus are being prepared for the consequences should that occur. Maria Kirstjen Nielsen dare. Thank you so much. The weak dollar is good if youre only the word for secretary Stephen Mnuchin. The dollar is lower. All eyes on General Electric after huge for the Company Reports Quarterly Earnings after a dismal year. Well bring you the earnings after they hit the tape. Live from davos. Pssst. What . I switched to geico and got more. More savings on Car Insurance . Aha. And an awardwinning mobile app. That is more. Oh, theres more. Mobile id cards, emergency roadside service. More technology. I can even add a new driver. Right from her phone geico. Expect great savings and a whole lot more. Ythen you turn 40 ande everything goes. Tell me about it. You know, its made me think, im closer to my retirement days than i am my college days. Hm. Im thinking. Will i have enough . Should i change something . Well, youre asking the right questions. I just want to know, am i gonna be okay . I know people who specialize in am i going to be okay. I like that. You may need glasses though. Yeah. Schedule a complimentary goal Planning Session today with td ameritrade. Maria welcome back. Gunfire causing panic at another school to report. Cheryl casone with the details. A 15yearold student opened fire at Marshall County high school killing two fellow students and injuring 18 others. Police say the suspect is in custody and will be charged with two counts of murder and several counts of attempted murder. Officials havent decided if hell be tried as an adult. According to the new york times, and this is the 11 School Shooting since january 1st in roughly the 50th of the academic year. The u. S. Dollar hitting treasury secretary Stephen Hitchens said hes walk on the weakening of the dollar because its good for trade. The euro now hitting a threeyear high on those comments. Attending the economic forum, america is open for business. We have a great story to tell, lots of important meetings all about Economic Growth, opportunities to invest in a free and fair trade. We are looking forward to it. Maria this is coming for fair protectionism. President trump is set to leave the United States for davos tonight. President trump stick to that the federal reserve. Palisade knows that agreed with the policies including increases in Interest Rates. He will replace janna gilland the first time into a decide. Before your term ends officially on february 3rd. We will be getting earnings into dock upon us this morning. Investors in general let her care ready. Bracing for more bad news after the Company Recently announced a surprise charge from its insurance business. Earnings expected to fall at 38 from a year ago. The study estimates. The stock was a little bit higher if your moment ago. Appoint 12 . United technologies reported a few minutes ago. Posted better than expected results. Sales rising in all four of the big United Technologies stock at 22 from just a year ago. Obviously all eyes on general let her. Stephen hitchens comments in the program. The text and gives that. Verizon, jpmorgan and starbucks on perks for employee. Chairman and ceo Brian Moynihan coming up about the impact. Crypto currency is a big topic, but is the Technology Behind it watching the much bigger economic game changer . Back in a moment, break your life. Right here, live. I accept i dont conquer the mountain like i used to. I even accept i have a higher risk of stroke due to afib, a type of irregular heartbeat not caused by a heart valve problem. But whatever trail i take, i go for my best. So if theres Something Better than warfarin, ill go for that too. Eliquis. 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Com we cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Verizon announced today that all of their employees other than the top management will receive 50 shares of restricted stocks. This amounts to 2500 per employee. Employees will further share in the companys success verizon said in a release. The president is just Getting Started when youre in. Maria White House Press secretary Sarah Huckaby sanders teatime presents plan to word employers as a result of President Trumps tax plan. Not the only company with announced yesterday. Disney announced bonuses and Jpmorgan Chase raised wages. My next guess was the first announced plans to give money back to employees. Think of a chair rent ceo Brian Moynihan is with us now. Great to see you. Wonderful day. Maria really is. You announced it was giving 1000 bonus citing the tax bill. Was a broader package. We believed we had to share with her teammates. Also down 150,000 in a 1000 bonus that they got their paychecks by yearend. We moved 15,000 last time by the starting wage in employees work for companies in 2010 for now. It is in the brackets we are talking about with 5 per year. It is a constant war for talent out there. Maria how long does this go on . People are looking at this as if its an overnight success. The truth is its a lot longer and sustainable than people think. How do you see it . Were on a panel yesterday. We all had a onetime adjustments we had to make in our Financial Statements that we had some programs in the question is what we do. We are increasing investment and we told our investors we consider increasing investments, more branches in new cities through income which have about 10 employees. All of those things. But it will take a little while for people to catch up to because it is brandnew. Or just a Business Plan from the Spending Plans across the board in incremental aggressiveness and focusing on stuff that had longer payback with an equal balance of investment for texture earnings in dividends and stock buyback which isnt bad either. The investors said they will have to put it to work, which some but company that needs more capital to put it to work. The regulations you been faced up for the last 10 years to get rolled back. The Trump Administration has announced a good rollback and regulations but it hasnt impacted the bank yet. Everything about regulations for banking, we needed to get the situation right so we have a ton of regulations. During past the point of the middle. If you think about what we need to do going forward, those people are now in place in chairman powell was approved yesterday. That was important. They were inconsistent, adding on, piling on what you might use because we fixed everything. They did a good job to declare its kind of over. We had to stop to the momentum. Secretary mcgeechan was working with the industry and people who like the industry and dont like it came with a roadmap to appropriately rebalance the regulation of some of the largest underwriters with the other banks. We have the highest interest because anytime a bank fails the industry puts up the money ultimately in the come up with a, 15 share. Assumes that there is a long runway. You havent even felt the impact yet. A big deal for bank of america and the entire industry. As can be carefully done at the right cost benefit analysis. We cant keep changing back and forth. Its got a hot stick to the ribs to her. Integrity to it that is the purpose to stop proprietary trading, remove the difficult compliant to stick to a stick to us as somebody doesnt have a better idea because we spend over a billion dollars on a resolution plan. I dont want that to have to be redone. It is money going to consultants and other people and systems that it doesnt have customers. Maria characteristic consumers. Can you tell us on the consumer looks in terms of one david spending right now. What happened last year from 15 to 16, although spending and the consumers was about two and a quarter trillion dollars in bank of america grew 13 . That same spending was checks or debit cards, debit cards come in handy the the atm grew 6 . Twice the rate across 2. 6 trillion last year. In january to start again. Consumers probably the more driven as opposed to things. Doing stuff as opposed to buying stuff. The vacations and they just continue to rise and continue to build the market. You see that as one of the attributes. Thats very constructive. Where prime lender and very strong availability is very strong. Small business weve had record success, meeting the nuances of the business has done well the next level is thinking also doing well. The activity as high as to get the regulatory be more aggressive and we call a small that most people grow also. Maria do you believe this market is trading appropriately . It sounds really good the business at your bank, but people are worried about complacency in terms of these markets. You are a market guy. We think about this incredible performance . We have a lot of experts and they have the s p growing for the year. But the target they put out because of all of these. Its all construct is. The reality is the best of bank of america and thats where my money is. You think about it, there are some excesses in there always will be. Broadly across the board but the strong valuations of companies are running well. Economies are growing faster. Maria leave it there. Great to see you this morning. Brian moynihan is chairman and ceo of bank of america. Right now, General Electric is missing expectations this morning on its earnings. An estimated 29 cents a share. Revenue expected at 34. 06 billion for the quarter for General Electric and well put those numbers on right now on the screen in terms of revenue for the Fourth Quarter. Ge shares are up two thirds of a percent, stop down 40 in the last year. Take a quick break here. King james king size ego pit that is that some are saying about lebron james after congratulated himself on social media after joining the 30,000point club. More here from davos after this. Im a concrete mason. I had severe fatigue, became diagnosed with hodgkins lymphoma. He was a good candidate for immune therapy, which is allowing his immune system to attack the tumor. Learn more at cancercenter. Com i was wondering if an electric toothbrusthan a manual. S better and my hygienist says it does but theyre not all the same. Who knew . I had no idea. So she said, look for one thats shaped like a dental tool with a round brush head. Go pro with oralb. Oralbs rounded brush head surrounds each tooth to gently remove more plaque. And unlike sonicare, oralb is the only electric toothbrush brand accepted by the American Dental Association for its effectiveness and safety. My mouth feels so clean. Ill only use an oralb. Oralb. Brush like a pro. They appear out of nowhere. My secret visitors. Hallucinations and delusions. The unknown parts of living with parkinsons. What plots they unfold, but only in my mind. Over 50 of people with parkinsons will experience hallucinations or delusions during the course of their disease. If your loved one is experiencing these symptoms, talk to your parkinsons specialist. There are Treatment Options that can help. My visitors should be the ones i want to see. Here again Maria Bartiromo in a special edition at the World Economic forum. Welcome back everyone. I think you so much for joining us. Your top stories right now 634 on the east coast this morning. Breaking news right now. General electric just reported earnings. The earnings came in below expectations. The revenue at 31. 4 billion versus 34point 06. They are trading higher in the market. The numbers hitting the tape. Not having a big impact. Present trump will leave for devils, switzerland later tonight. Christian nielsen earlier about the president s trip. The dollar is sliding this morning after treasury secretary Steven Mnuchin said a weaker dollar is good for the u. S. Economy that has surged yesterday again. And turn it uncharted territory at the close. The nasdaq now at 7460. 2839. At the dow industrial pulled back to us a little today we see momentum continuing. Better than 60 points this morning. S p 500 up four points at the nasdaq. The Major Industries are also showing gains. Ft 100 down a third of a . The dax index is also fractionally weaker on the session. Markets closed mostly higher breaking news of this morning General Electric with the Fourth Quarter results. On a revenue of 31. 4 billion. The former ceo of home depot and chrysler. Your reaction to these numbers this morning. I think if you think about this announcement obviously we are able to make some adjustments. I think one of the big concerns was the drop in earnings from the previous estimate. I think one of the other big concerns was in november they talked with a 3 billiondollar charge it ended up about being 6. 2 for insurance. I think the big underline underlying word here is uncertainty. John and his team try to navigate through some of the issues that they faced. It was down more than they had anticipated which is the largest segment of this move the movie talk about with aviation and healthcare. I think they have a lot of work to do. To bring back investment confidence. That is good news considering they still have a dividend. Half of what it was. And theyre trying to reinvest in the businesses. The new tax policy really doesnt help ge a lot. Well had to see. I think the big wait and watch was be how they do in this forced quarter of this year. Down significantly. Let me bring in Dagen Mcdowell in new york. Great to see you this morning. And we know there has been an expectation out there that given the fall at ge that we could actually be talking about a potential split up of this company at this point. We will listen to more comments on that note. They are looking at exiting the major stake in the oil services business. I think is probably a Long Time Coming at this point. If you look at the stock up 2 . I will point is this a buying opportunity. It is a real mess. It may be even a throw if you well. The stock last year lost about half of its value down so far this year. Again some investors are willing to step up a little bit and put some money on ge but it remains to be seen and how much of it would really be left quite frankly. What about that really quick. The high was 59 and three quarters. His 17 and change a buy here. It was a 52 week low. I think its a waitandsee attitude right now. I would wait and see before i jumped in. We will leave it there. With the analysis on General Electric we have lofty ambitions. Marriott international it now is the Largest Hotel company. Spread out across its 20 brands. They now had locations in hundred 26 companies. They are up 70 in the past year alone. Look at that chart. Great to see. Thank you so much for joining us. What is behind it. The deal is a good deal. I think there was great relief that we have not stumbled. At least not visibly yet. And we are off to a good start. In the sense it is a multiyear process to take the platform and pull it into marriott and the Marriott Rewards program. So far its gone really well. I guess they have similarities and some culture. People look at these two brands is very different. The cultures are actually more similar than different. They want to win in their space. When you bring those two things together at serta feeds on that. And we get a lot of momentum. That is also great motivating tools for for those invested in the company. When you expect it to be complete. On the grill be able to stay for another couple of years how well its gone. We will start to see good performance as the year goes along. So far its been great. It is a big job. I guess weve a lot of questions from guest in investors about the rewards program. If im a longtime member its been a hundred nights a year with starwood. I have made a choice and habit, loyalty and all of those things drove those choice. So far there has been good. But until we get that completed we will be eligible as a definitive. I think youll be pleased with whats coming up. About 4 Economic Growth. Let me step back to the davos stage. You look at Global Travel trends. About a 1. 3 International Trips last year around the world. Up about 7 from the year before. The u. S. Share was down 4 . The u. S. Is a less friendly destination are probably talking about security more than we head in the past. You would expect there to be some hesitation. Where here saying lets work on security and the international travel. And lets compete for it. Because business could be even better. They are not traveling as much to the u. S. Its a visitation to the airport was up 2017. Its not just our data we are seeing reversing growth overall the world we see americans come to europe also. Again the u. S. Is losing some share. We have to come back about the room of the future. We will be right back. Because im retired now. So . Were voya. We stay with you to and through retirement. With solutions to help provide income throughout. So, youll still be here to help me make smart choices . Well, with your finances that is. We had nothing to do with that, uh, tie. Or the suit. Or the shirt. Voya. Helping you to and through retirement. Okay, iunderwear thatsd say this, bactually pretty. Er leak surprised . 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Earlier today he posted congratulatory letter to his younger self. I want to be the first to congratulate you. I know its never been a goal of years from the beginning. Look up to the higher skies and say thank you. They used the opening line for the self congratulatory notes. Like this one. On this accomplishment achievement. There is something that kobe bryant has that lebron james is not. When he retired in 2015. And we both know five seconds on the clock. He said the short film is about a dream and trying to keep that dream as an adult tiger took in a practice round yesterday. He is one open seven times the latest effort as a bird its a plane its tom brady. It wont be part of the super bowl pregame show. It has is something they had been following. 76 miles per hour. And it wont come closer than 2. 6 million miles from earth this is a 2. 6 million miles. I think we will be safe from asteroids on sunday. Thank you jared. Mia been watching this royal roller coaster run of bit coin. We want to make sure that if we choose to enter into the market in terms of the future of the market that we have client demand and number two that we put the right Risk Management protocols in place to make it that people feel confident and what we are providing and how that becomes an investable product. With me yesterday right here. We were talking bit coin. Some see far more potential from the block chain. The Underlying Technology that really works as the digital ledger if you well. Jamie, good to see you. They also explained why this ledger and the trust that is recovered is required is so important. The way that i understand it i think of it as a train track the rails of the block chain in the car is a digital token. What is blowing everyones mind is that it actually has a value. Everybody really cares about moving money because 99 percent of the people are using it for that purpose. All of these things that we are having some data integrity issues on. If i wanted to be on those rails. If you look at the world as a whole you are talking about billions of people who are on bank. They dont even have an identity. There is so much friction. We take for granite. You want to start a business and provide for yourself you just dont have those opportunities and now you do and not only that its pretty cheap. How are you going to identify which crypto currency is actually going to be the winner here. How do we know. What metrics are we looking at. At the moment whats happening as companies are actually decided. They only allow you to buy four different kinds of regulators literally dont know what this is. It is really hard to do smart regulation. We are teaching them what they need to know. Thank you so much for weighing in on us. Jamie smith. We need to do it more often to help people that need help. Ill stand by you. Fvo hes encouraged other people to look around and notice one another and take the time for each other. Thats his gift. Ill stand by you. They appear out of nowhere. My secret visitors. Hallucinations and delusions. The unknown parts of living with parkinsons. What plots they unfold, but only in my mind. Over 50 of people with parkinsons will experience hallucinations or delusions during the course of their disease. If your loved one is experiencing these symptoms, talk to your parkinsons specialist. There are Treatment Options that can help. My visitors should be the ones i want to see. Live from davos switzerland here is Maria Bartiromo with a special edition of mornings with maria. Thank you so much for joining us. It is wednesday january 24. 7 00 a. M. On the east coast. President trump and his administration headed to davos. Steven mnuchin already making waves here in davos. A weaker dollar is good for the u. S. Economy. He is moving markets with that comment. About the Fiery Exchange with cory booker last week. It was a distraction and was very frustrating to me. There need to do their job. It became 11 minutes of a lecture about a meeting he was not in. Whether or not i heard it. Shes part of the delegation here from the u. S. The president just tweeted this. There has never been anything like it. Massive regulation reduction. Tax cuts making a u. S. Powerhouse again. Starbucks the latest company to pass on the savings from the new tax law. Just yesterday alone. What the coffee giants brain is bring up for its staff. It is now once again and record a territory of the s p 500 adding an alltime high this morning going into todays open. Futures indicate another rally. Its also higher. In europe this morning a different story. At the major indices are pulling back today. Comcast just reporting earnings. Fortynine cents a share. And there is a look at the asian markets and how that closed. Up one third of 1 . Looking at comcast revenue expectations. Also reporting today General Electric missed expectations with its numbers earlier. As you see comcast the very latest general election dash mike General Electric moved expectations. One and two thirds percent. There is clearly investors. More trouble for toys r us to report. A look at the companys turnaround plan. They plan to thousands thousands of jobs coming up this morning. The award goes to walmart. They are celebrating their fifth ever female director. We will tell take about that coming up. Rick perry will join me here and the chairman of the board with me. In the chairman and ceo lynn doughty is with us. Were breaking news right now. Comcast reporting is fourthquarter earnings better than expected. The Dagen Mcdowell in new york. Certainly good in terms of comcast as well. Because of the tax event. Certainly the last quarter was quite good for comcast. We are seen all of the companies pass on the tax savings to employees. And its like 200 companies. It is literally millions of individuals. They will get bonuses because of it. At wells fargo for example. They are feeling it even before next month. Date shop in the pate checks. Thats more than 90 of workers. In terms of comcast also i wonder on a Conference Call that they will be saying anything about the at t battle with the Justice Department to purchase time warner. Because again them get in the way of that accusation would help comcast which was allowed to buy nbc universal. We will be listening for that. A lot of consolidation going on. We want to talk now about bringing America First to davos. Treasury secretary Steven Mnuchin is already on the ground. He welcomed the weakening dollar because its good for trade. They also emphasized that america is open for business. Weve a great story to tell. Its really all about Economic Growth opportunities to invest we are looking forward to it. Join this right now to weigh in. Thank you so much for joining us. Were you surprised to see that federal the secretary to secretary to say that a weaker dollar was good for that. You can absolutely say it. If you want to sell more goods and make them cheaper for people outside the country to buy them and thats what a weaker dollar is all about. When a country isnt real in deep trouble they do a major devaluation. Its a good thing for the u. S. We have new developments in this morning that i want to talk to you about. There are new text messages. He was hesitant about joining a special counsel Robert Muellers investigation. Because of his gut sense that there would be no big there there. No collision between donald trump and the russians. They are a couple. After he got elected. That is according to two republican lawmakers. What this is all about is further evidence of corruption the highest levels of the fbi. Its a group that we are Holding Secret meetings offsite. There is so much smoke here. A secret society in meetings off site of the Justice Department. Anything more about that. If to dig into it. This is biased and potentially corruption. At the highest levels of the fbi. When they were talking about the election they said look if he wins we have to have an insurance policy. And now the latest tax reveals that when he did when lets get the secret society in place so basically to create investigation after investigation. So far no evidence exists. I know you at i ask about this because of an indirect relation to this russia probe because of the it would be dumb in on my place to comment on it. The russians absolutely have an agenda the agenda was to get rid of the magnus ski act. And they went to donald trump junior and others to try to make that happen. Whether anything happened in response we dont know. And eventually the truth will come out about that one way or another. I believe Robert Mueller is a honest investigator and he has a lot of good people working for him. We can all be armchair investigators try to make sense of one or two soundbites there are 20 u. S. Attorneys on the staff. In a bunch of other people. Eventually the truth will come out one way or another. We can put it to rest or to a problem. Tommy why you helped great that job i worked with with that government corruption scheme. They are put in and they were killed at the age of 37. I made it my mission to get justice. It has resulted in the magnus ski act. Above and beyond america. Canada and the uk. And he is absolutely apple clock dick because hes one of the richest men in the world. He is afraid that his money will be stolen. I had been threatened with death, kidnapping. Its a major problem. Let me ask you this in terms of what you went through this is not a new story that russia tries to undermine the u. S. And the rest of the world. They try to do it in the european elections as well. When i traveled to moscow and i also traveled to Saint Petersburg i was told dont bring your blackberry. The russians will hack you and they will have access to your rolodex in your calendar and everything. The russians have been undermining the world for how long . There is nothing new about this. They do it everywhere. Its not partisan. I think America Needs to put aside all of this partisan discussion about that. Russia was interfering everywhere and its a nonpartisan thing. If they couldve interfered with the clinton campaign. Its about putin trying to create chaos. He cant bring that up. By creating chaos. Some he tried to run against him. He said no you cant run. The russian opposition person was killed right in front of the kremlin. It turned out that all 60 security cameras were turned off the moment he was killed. What do you want to tell these World Leaders about russia and partnering with russia. He is out to create chaos and destroy democracy and freedoms in the world. And we have to contain him and surround him. He is a man that wishes us nothing but ill. Thank you so much for wayne in. Trouble for toys arrest. Amid more store closings. Detail on the companys new ants. 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All so they can manage their risks and move forward. Its simply a matter of following the signs. They all lead here. Cme group how the world advances. Another Major Company passing on some of the savings from the tax law. Starbucks maria boosting pay and expanding benefits. On our 50,000 employees here in the United States. They also announced a stock grant along with the new policies for expanded parental leave and sick time. A different story over at toys r us. They are still trying to merge. Most of those have failed to meet performance goals. They had been theyve been hurt by competitors including the heavy debt stemming from a leveraged buyout. Killed kimberlyclark is up 12 in their workforce. In a retail price war is also weighing in on the companys profits a lot of pressure on the stock you cannot love the irony of this story. I showed this you a couple days ago. Customers had to wait a long time that is the whole plan. It was too much and they were overrun. They do huge lines at the amazon go store. We can do miss the point on this one. In terms of the real world Shopping Experience i cant wait for the people to get ms. Charged her over stars spend about time you know thats going to happen. I am interested in seeing how this whole consolidation and integration goes with whole foods. Youve been making a lot of good points about what you are seeing. They become cafeterias i dont know how they are going to do this. It will be interesting to see how that combination progresses. Microsoft president batts brad smith will weigh in. Details on the new hair party harry potter cruise. [music] its a great day to be alive i know the sun still shining when i close my eyes. Liberty mutual stood with me when i was too busy with the kids to get a repair estimate. Liberty did what . Yeah, with Liberty Mutual all i needed to do to get an estimate was snap a photo of the damage and voila voila i wish my Insurance Company had that. Wait hold it. 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We are looking at hacking across the board. Not to mention efforts in government as well. The first comparative whether you are a consumer or business is keep your machines uptodate. Make sure you are dont do that. And then gets a lot more sophisticated till there. This is where i think we need governments themselves to we think that we need rules of the road. If we cannot get governments to do that its a very difficult path for the tech sector. That is immigration. The travel ban and the fight over daca. The president of the microsoft said that we know from a personal experience what these they are people that had spent all of their lights and makes a difference to our future. At princeton and microsoft though really keep these people as they had been promised. I think most people would agree with that. Tell us how it affects technology. The life blood is people. Its our employees. The best and most talented people in the world. We had 45 employees at microsoft we have many more employees have come here lawfully from other countries whether they will be able to continue to work under the visa. It is a cloud of the is hanging over the future of that tech sector. We want the dreamers we dont want to happen at the expense of american citizens. What you say to that. We want every corner of the United States. We have to come together as a country to do. When you look at unemployment is right now. From a technology standpoint people feel like we cant find workers. We need to do better for our own people and we need immigration that is the only way were going to fill the jobs of the nine states. I understand what youre saying. What were doing is investing every day. We have a program and 349 high schools we are engaged every day hoping to find the key and locks this stalemate. The battle over privacy and surveillance. This is an issue that Corporate America is spending hundreds of millions of dollars on. Our customers need to head confidence. We have a case that will be argued before the supreme court. Any data center. Other countries or are say no. We need international processes. Its a good point. I want to ask about Artificial Intelligence. Fantastic performance. The stop hitting another alltime high. What is behind this growth. We are living at a time when software is changing every part of the economy. It probably involves what we call transportation. Part of it is a crowd cloud. If they succeed we succeed. Its actually a Pretty Simple formula. As the growth of the next five years also comes from the cloud. It comes from what is called augmented reality. At the end of the day it comes from the employees. Tell me about Artificial Intelligence and its role in the growth story. It is about making machines. The ability to understand speech. And what it really means is that when you combined art official intelligence you start to find new ways to get more done and defined Breakthrough Solutions to some important problems and to drive efficiencies. I think we are entering an ai era around the world. Here we are having a discussion about immigration. Some of these jobs are going away because of Machine Learning. They will eliminate some jobs. They will create lots of new jobs. What it really means is it doesnt matter if you work at a big company or a one person business were all gonna keep learning. We need to learn new skills. We need to focus our we had time. This will be part of our lives. Great to talk with you. Will be right back. The day after chemo might mean a trip back to the doctors office, just for a shot. But why go back there, when you can stay home with Neulasta Onpro . Strong chemo can put you at risk of serious infection. Neulasta helps reduce infection risk by boosting your white blood cell count, which strengthens your immune system. In a key study, neulasta reduced the risk of infection from 17 to 1 , a 94 decrease. Applied the day of chemo, Neulasta Onpro is designed to deliver neulasta the next day. Neulasta is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta if youre allergic to neulasta or Neupogen Filgrastim . Ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, and capillary leak syndrome have occurred. Report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. In patients with sickle cell disorders, serious, sometimes fatal crises can occur. The most common side effect is bone and muscle ache. So why go back there . If youd rather be home, ask your doctor about Neulasta Onpro. Here again is Maria Bartiromo with a special edition of mornings with maria. At the World Economic forum. Welcome back. Good wednesday morning everybody. It is monday january 24. 7 30 a. M. On the east coast. They are set to lead tonight. The white house makes good on the commanders comment to put America First. The tax reform and tax cut over a hundred companies have announce policies that would create a jobs benefit our workers into grow our economy. At the World Economic forum we will reiterate americas commitment to domestic and global Economic Growth and prosperity. Strengthen close ties with other World Leaders and categories business support. A prosperous america benefits the world. Treasury secretary is already on the ground and boy is he making news. The dollar is sliding this morning after he called a weaker dollar good for the u. S. Economy and trade. The comments come as america keeps winning. The new tax lot to its employees announcement coming on the heels of a similar news from disney all happening yesterday. The president just tweeted this on the moves. Being made in america there has never been anything like it. The massive regulation reduction is making us a powerhouse once again. A long way to go. Jobs, jobs, jobs. Market this morning looking higher. Weve another rally underway for stock prices. The s p 500 also higher adding on to record setting. Now ge after the 40 cell up. And the dax index is lower as well. Really break even. In asia overnight markets closed mostly higher with the exception of japan which was down three quarters of 1 . A big shakeup at the 2. 3 Million Dollar axel weber and heres what he have to say about the Wealth Management business which is driving the business at ubs. In addition to the impact in the tax reform. The business has been growing steadily. We have that is where we decided we would start integrating back offices for example and we would move to a coed structure on the global Wealth Management business. The lot taking place now what kind of an impact to be seen. And be on that we are waiting for the what the u. S. Well announce on infrastructure investment. In general what youre seeing is the mood in the market is very good. You are seen in the Global Economy improve. The big thing that people dont really had on their radar screen is inflation is starting to tick up. What used to be a tailwind for inflation. The downturn in the oil price. Oil price. With oil about 70 inflation data as can come in stronger wage growth will be stronger in europe. I think they might be. By better data coming in and if the data depended on it. It might be to speeding up some. Were talking now about inflation. That is going to be a trigger. That actually surprises investors. There is a lot of optimism out there. The risk taking risktaking is very high in the marketplace. I think with volatility so low an insurance of being available and inexpensive it doesnt mean that you dont need it it means that you should buy it at a reasonable price. I think there are some headwinds that we are gonna see in this year the whole discussion here my canada and mexico. About nafta and what the International Trade agreements are. It has been a key driver of growth. Im doing some of that are scaling it back would mean that would impact negatively on growth. We are a long u. S. Equity. We think this is not the time to disengage in equity markets. It would be so much driven by the tax reform. That would benefit over the next two years between the fiscal monetary and some structural policies. The rollback has been much talked about in the United States the rollback has not hit the banks yet. Given this rollback in regulation a long debate now. With the banks that would have to cater for. They have the fundamental review. Embedded into national legislation. Well that global Regulatory Framework get into and implemented and thats no longer the committee. That is politics. In the president well have a role to play. That will take a longer time than people expect. The need for Additional Capital raising for Large Capital buffers to digest some of these developments is clearly not going to be at the forefront of what the guidance will be. Not the current ratios. Some of that had been trying to raise capital for potential developments. We said it will be around 13 . We cant really take it too far. It was going to be a key factor on what actual requirements would be like. The uk has now become the under performer of europe. We know it will be an event. There are some surprises on the upside as well. For example france. I think that two things that surprised me most was how long and actually takes to form a government in germany. The newly elected president who drives for the european agenda has been the other way around. Where does the growth come from. The focus on Wealth Management. Our business will grow twice global gdp. They move along with the economy we have the chance of growing much more than the Global Economy and i would meet if you have have the Global Economy price. That could mean our business outgrows that by a wide margin. The business in particular will continue to be the driver of profitability. And given the much better performance of the u. S. Economy would be a driver of profitability. When you look at fixed income trading. Trading really under pressure. If the market really doesnt see any great risk. That complacently needs to not buy insurance. I think thats a very dangerous strategy. Volatility usually why it is low at this time in the repricing of the current would lead to massive changes. Everybody is pretty much focus on the same strategy and as soon as that consensus gets the start. It will come back with a vengeance. My thanks to asher weber. A very frightening bus ride to school. Cheryl casone we are gonna show it to you. We are going to show it to you. The bus is trying to drive up a icy hell. It is about to knock out there goes the box. Next up hits the car. Afterwards the bus continued on its way to school. I head of been shapiros speech they are Offering Counseling students only students faculty and special invitees are going to be allowed to attend. There are fears that political disagreement could turn into violent protests. Walmart is returning to the academy awards. In this year these ads well have a three all female directors. The walmart executives are trying to cash in. The shares of walmart up about 60 from one year ago. Have you ever wanted to attend Hogwarts School of witchcraft. Thanks to the Cruise Company you can spend your next vacation on harry potters cruise. Its actually oxfords Christ Church college. All of this can be years yours for 36,000. I leave you with this. There is an bar. 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Welcome back the word about the form makes history. It was chaired entirely by women. Among the Historic Board members is chief executive judy were maki. And joining us right now from davos, switzerland is lynn doughty. Thank you for joining us. You a woman running this Major Corporation congratulations to you. They are the most qualified individuals to be part of the cochair this year. I think its great that we show that women are in the forefront setting the stage as you know we still when we look at the delegate representation it is companies who decide who comes to davos. To do a social Media Campaign around women voices. The representation is probably not where we wanted to be. Companies need to really focus on how are we getting more women here. The World Economic forum exploring the gender parity in a hundred 44 countries. The overall global gap can be close closed in exactly 100 years. They are economic and health base. What do you think its gonna take. Why is it so hard for women to get to the ceo is sweet for example. The one great thing about this as this is a conversation that is happening everywhere. I will brag about my own profession where of the big four we now we had three women of the big four leaving those firms i think thats tremendous progress to ensure that you are looking at do you have the most diverse perspective at the table. The conversation is all about disruption and how things are changing. If you have a diversity and inclusion in your organization you will not be the most successful. You are simply announced the acquisition. It provides Cyber Security globally. Where your priorities right now at the firm. It points to the importance of the top risk of ceos. It is no surprise because with Artificial Intelligence and technology is being embedded in everything that organizations do the threat of cyber is more important than ever. Its something that every organization is focused on. I think they said they will get to a billion dollars. Lynn, its good to see. Thank you so much. We will be right back. You know what they say about the early bird. He gets the best deal on the Perfect Hotel by using tripadvisor thats because tripadvisor lets you start your trip on the right foot. By comparing prices from over 200 booking sites to find the right hotel for you at the lowest price. Saving you up to 30 youll be bathing in savings tripadvisor. Check the latest reviews and lowest prices. So, howell. Going . We had a vacation early in our marriage that kinda put us in a hole. Go someplace exotic . Yeah, bermuda. A hospital in bermuda. A hospital in bermuda. What . What happened . I got a little overconfident on a moped. Even with insurance, we had to dip into our 401 k so it set us back a little bit. Sometimes you dont have a choice. But it doesnt mean you cant get back on track. Great. Yeah, great. Id like to go back to bermuda. I hear its nice. Yeah, id like to see it. No judgment. Just guidance. Td ameritrade. Announcer live from doovrz swits at the World Economic forum here is Maria Bartiromo with a special edition of mornings with maria. Good wednesday morning, welcome book everybody thanks so much for joining us this morning, it is wednesday, january 24, top stories right now 8 00 a. M. On the east coast. America first, on the world stage, President Trump and his administration, heads to davos to tout u. S. Economy lure big name investors to america treasury secretary mnuchin making headlines dollar down after secretary mnuchin said weaker dollar is good for u. S. Economy not only cabinet member making headlines this morning i spoke with Homeland Security secretary Kirstjen Nielsen about the delegation to the forum. I think what message is going to be America First not the america alone we need to pairn as i said earlier not one of us has the ability to do this loan so partner with private secretary of stator we that in iran we have to build coalitions to think a these threats teeing i think you will hear a lot about. Maria trip to davos amid trickle down tax reform, starbucks latest company, passing on savings from new tax law to its employees, the announcement coming on heels of similar news danz Jpmorgan Chase verizon just yesterday the coffee giant brewing up coming up records for markets nasdaq surged 52 points netflix stock jumped 10 , the s p 500 also, added alltime high this morning, after a gain yesterday 6 points quarter of a percent higher dow pulled back yesterday this morning we look at momentum on upside we are expecting a pretty strong opening for broader averages futures dow industrials at highs of the morning expecting gain 80 points out of the gate a third of a percent higher, s p 500 higher by a quarter of a percent the nasdaq adding on to yesterdays record performance, in europe this morning, different story, take a look at union lower across the board worst ft 100 down one half of a percent. In asia overnight markets closed mostly higher exception of japan, as you see nikkei average down three quarters of a percent o overcasts earnings once again General Electric ford motor come waft reporting fourth come captain bother estimates General Electric missed estimates, look at stock up one and one half investors seeing value in ge automotive a 40 sell off, despite, that miss on earnings. Trial counsel patchy the patchy intel struggling to repair the glaring flaw in chips, sparking concerns this morning for cybersecurity, plus hackers cash in on cryptocurrency creates a we tell you about, that joining the Conversation Energy secretary rick perry along with dow ceo, the ceo of kisco is here, ceo of Campbell Soup Stuart Varney weighs in a big hour, this top story this hour, America First on the world stage, President Trump head to World Economic forum to davos tonight expected to arrive tomorrow, mnuchin on the ground in switzerland making news, had comments welcomes a weakening dollar good for trade sent dollar to new lows, mnuchin emphasized america is open for business. We have a great story to well lots of important meetings, truly all about Economic Growth, opportunities to invest, free and fair trade. Were looking forward to it. We dont want have. This is coming as companies in u. S. Giving back to employees, the wake of the tax reform overhaul President Trump tweeted this morning, he says tremendous investment by companies from all over the world being made in america. Never been anything like it writes now disney Jpmorgan Chase many areas massive regulation reduction tax cuts u. S. Powerhouse long way to go, jobs, jobs, jobs. Joining me to weigh in is chairman and ceo, of eli Mark Weinberg great to see you now a pleasure. Thank you for joining us i know that you have been on panels this morning talking to customers, and clients about what is taking place in u. S. , and tax reform bill that is having a really big impact. It is were seeing obviously doesnt make u. S. A tax heaven it gives us a comprehensixefr rate without paying extra tax we are seeing display chains reevaluated, Operations Investment being expanded as you said a bunch of things increasing wages bonuses pension payments health care payments, real question is you know has been businesses going to give book to are shareholders in stock applybacks dividends or invest in capital labor i think you are going to see all that a positive momentum in davos. All above is positive. All are positive back to the economy. Let me ask you this, we see this tax plan having an immediate effect with companies, announcing things but this is really going to have a longer term fanatic isnt. It that is a great point, because every one says what is this doing next quart this is a landmark, are tax reform bill that chaens business taxes we have not done since 1960s, talk about 1986 individual International Rules in 60s this this he changes for you a Company Thinks not adjustment u. S. Birs asian, European Companies to invest in u. S. To get advancing if you feel expensing lower corporate rate benefits a great market. I was speaking to european player said we had plan to invest in europe we shifting that plan now investing in america very positive. There is that, the president and his Administration High marks on tax reform package, no doubt about it, but then trade where there are some questions, the president yesterday announced steep tariffs solar panels washing machines, 11 pifk room countries agreed to forge a new commercial polk exudes u. S. U. S. Pulling out of tpp what is your take. You talked about going to be about important the president has to balance enforcing the laws this you know putting tariffs on solar, isnt changing the landscape of tradition i had in fact 2012, 2015 tariffs on sola uncertainty now where is he going next, we need to be involved in trade deals around the world we cant be left o out, 59 World Consumers 80 gdp growth outside United States businesses want to be able to do there u. S. Open market we let everybody in trade deals good for businesses in the uss create jobs the questions is does this lead to more and more retaliation, trade wars . Or is it enforcement xifk deals renegotiations of discussions with china to get to positive trade deal that is what everyone is watching. One of the issues with nafta that basically sets Companies Look you can have a factory overseas in mexico you can produce cheap stuff, and then you can send them back to the u. S. And sell them in u. S. , so ovshg Companies Issue going to do just that hire workers at much lower wage in mexico. Then once nafta completed template for all trade deals. It is true so there are examples how do you even implement this you dont know what cargo Component Parts going over and back across the border canada, six times. Iphone, 800 Different Companies working on iphone 1 different countries, the Component Parts all come together in United States. Pay a tariff. You couldnt afford iphone if you had tariff every country you couldnt get lake done to bring back to withdrew states we need to understand this helps United States too to have trade deals in place. A balance between fair trade also not hurting a customer, because ultimately, that is going to fall on the consumer who is going to pay more for a product because the company that makes it is paying tariff. You are hittingnail on the head as always, pivot see from feeding up on trading partners for a lot of bad deals upgrading necessarily trade deals to starting to negotiating positively new deals, seeing if nafta will get done a lot of negotiations coming up this month mexican elections cooling up midterms coming up, up chorus moving forward try to negotiate that weve got to make progress in those deals set al send a good signal. To bitcoin, according to research you and earnest and young more than 10 of funds raised through initial Public Offerings loss had the or stolen in hacker attacks. A complicated area county offers plenty 100 indices out there offerings, obviously about susceptible to fraud and theft, they have become more of an investment, than a currency so i think appropriately you have governments look at it reappointed out there investors it is not investor it is a tool to be a currency you have to be cautious how you invest in it. One more risk to watch. A lot more. Great to see you. Always. Thank you so much for joining us Mark Weinberger, General Electric releases 4th Quarter Results missing earnings up 1 1 2 more concerns over cybersecurity intel telling consumers sop installing Software Patch in computer chips back in a moment. Ive gotta say, i love the new place. Oh thanks. Yeah, i took your advice and had geico help with renters insurance it was really easy. Easy. Thatd be nice. Phone for help with chairs, say chair. Phone for help with bookcases, say bookcase. Bookcase. I thought this was the dresser . Isnt that the bed . Phone im sorry, i didnt understand. Phone for help with chairs, say chair. Does this mean were not going out . Bookcase. See how easy renters insurance can be at geico. Com. World economic furthermore in davos, switzerland President Trump here tomorrow joining me right now first on fox business interview, dupont executive chairman ceo the head of the disabout aned president americans manufacturering council good to see you thanks for joining us. Nice to be with you. We are coming into this meeting, there was a o lot of optimism would you say this is one of the most optimistic doovrz meetings you have seen. Definitely one of the most optimistic full of expectation for the president visit on friday so really the topic is the president visit most of us getting all meetings done before tomorrow, because i think going to tilt quickly to what president is going to say, and kind of his team kind of coming in already, meeting several had a couple meetings today u. S. Officials itch never seen such a strong u. S. Delegation, this is kind of opposite to America First thing this is america engaged, as a global company, this is a positive thing. And i think my european colleagues rest of the world colleaguesaire middle east africa all kind of waiting to see, how u. S. Will posture itself. Good way to put it american engaged i like that, how is president doing in your view . I know you were on that Council Chairmen disband. There was upset at that time, but how would you grade President Trumps from a year ago, to present day even through year with disbanding council i have been consistent on that very business friendly president business Friendly Administration i give him a strong a. Tax reform you talked about not just tax reform the regulatory work done astonishing never imagined that much progress in 12 months or so, of course, other work im involved in on secretary workforce rereinvention counsel towell redefine what american system is producing in terms of skilled workers digitization approaching us very encouraged by work early stuff were doing to change the way america, supplies workers we need so i am very i give it a strong a. Very important because we are seeing Machine Learning take over jobs were seeing new skill sets really required so positive marks on tax reform a package we know that, all companies coming out, and saying how positive it is but we are seaing debate around trade i want your take president issued tariffs on imports, solar panels washing machines from asia what do you make this have. Now as you just said tax reform, happening, and lets get details of that finalized, but trade is, of course, on his agenda, and the business agenda, the topic he are a n for office on, and there is a lot of work to be done whether redoing of nafta, whatever form it takes china discussion, of course, all the things that president worries about which is giving americans jobs that they can count on for the future you mentioned Machine Learning digitization we know that is big a possible job killer as anything in the trade agenda, so weve got to engage our workers weve got to engage American Public to actually put facts in fronted of the table what is trade topic it isnt look at dow, i export from United States all countries of the world, one in fooifr of my jobs is based on america being a trader so we got to keep trade what the president is doing is wants to change rules of engagement we have to engage in that topic what are rules . Okay. It isnt just putting tariffs on on that tariff question we dow make poll silicon raw material for solar, we have been excluded from china market five years that is not far fair tariffs on solar pan aels way sending a signal cant be one way, cant be one way trade i support the president on that. Really important because you have seen firsthand the compact of Cheaper Products from china. Absolutely, so American Workers, we cant we are now having plants at risk, factories at risk, cant access china market they favor their producers the solar panels coming over here killing our Solar Panel Industry in United States needs a recalibration lots of conversation with secretary ross ustr on this, that is an example of recalibrateing rules of trade i am all for to that i think we need to get facts on the table get the rhetoric out of room. First explanation i have heard makes sense you feel it firsthand worry are we going to see retaliation are you going to see dhooip get per is he concluded protectionist in terms of pannal. An tick we in bartering, of course, get titfortat retaliation this president is a negotiating, we have a team of negotiations in u. S. Side, i am a businessperson i am a negotiatingor as long as we end up the right spot, i think the rhetoric retaliation may be part of the process i am convinced based on speed of tax reform and speed of Regulatory Reform this will not be one thing that takes a lot of time i would encourage colleagues our company to be engaged at table what titfortats will be. Do you think we see more as relates to Aluminum Steel the president mentioned aid aluminum number steele getting some nervous we are going to see more and more of this kind of tariff, behavior i am not in the room that decides which ones but i am telling you if i you look at chemicals we have a surplus second largest exporter from United States would hate a steel and aluminum chemicals riktdz in terms of exporting into china any other country would i be counter doing too much titfortat. You have given us he insight thank you for that you are to retire as chairman of dow dupont this year overseeing Historic Deal merger last year you are giving us guidelines all all this in coming week what can you tell us in terms of timing of gravitation whintegrating he solders to pretime what i say with specificity this is on track historic 300 years corp history to reconfigure in taxfree way for shareholder value for growth Free Companies new dow Materials Company new Agriculture Company new Specialty Company we are on track i cant be happier, about the way the cultureing of assimilating the work weve got thousands working on this not the mention help in consultant world that you can find, it is working, and i will tell that you right now you will hear next week it is basically on track. Maria and in terms of growth, look at five years where is growth from a at this company. Well, i got to tell you that the humanity and sustainability gets talked about here a lot we need products that have full circulation capability so all that work on light weighting on factors and cars on next car what that looks like. Maria good point. Packaging, what we do with food packaging, what we do with plastics in the ocean Carbon Emissions all opportunities whether agriculture materials specialty water reuse waste managing the opportunities year addressing using 7500 scientists. This is where getting comes where let me ask you about regulation this president has been rolling back, regulation, have you felt it in your secretary of sta sector. What have you seen. I cant speak strongly enough about how much we felt it, it is not just it is not just the attitude it is specific we have been asked it is kind of nice to be consulted, to be at front end to use science say this makes sense this one doesnt this administration has been unaafraid of, to roll back, regulations that make no sense, we felt it, we are feeling it on bottom line but, more importantly we are seeing it in a change in attitude on what is the smarter regulation, we are for regulation. We just want the right type of regulation, to actually manage the behaviors of everyone in value chain we are a big player. Postponendulum swung too far will be right back. Stay with us. My names dustinhey, dustin. Grab a seat. Woman okay. Moderator nice to meet you. Have you ever had car trouble in a place like this . roaring of truck yes and it was like the worst experience of my life. Seven lanes of traffic and i was in the second lane. When i get into my car, i want to know that its going to get me from point a to point b. Well, then i have some good news. Chevy is the only brand to receive j. D. Power dependability awards for cars, trucks and suvs two years in a row. Woman wait laughing i definitely feel like im in a dependable vehicle right now. Woman 2 i want a chevy now. Woman 3 i know running a Small Business is demanding. And thats why Small Business owners need more. Like internet thats up to the challenge. The gigspeed network from comcast business gives you more. With speeds up to 20 times faster than the average. That means powering more devices, more video conferencing, and more downloads in seconds, not minutes. Get fast internet and add phone and tv for only 34. 90 more per month. Comcast is building americas largest gigspeed network to give Small Businesses more. Call 18005016000 today. We usso why do we pay to havers a phone connectede days. When were already paying for internet . 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First of all, i think intel doing a reasonable job a significant issue, in the industry, we all try to come together with issues occur there is a great cooperative spirit between Major Tech Companies when we find issues we are working through it like need is, and i think doing the right things. What can you tells us about i. T. People talking 4 Economic Growths your business, is the gut to any business in a host of sectors i want to ask what you are seeing in terms of i. T. Budges are managers spending more on products. Every year when we start new calendar year, budgets begin to become more visible as we get into it we are in the latter part of quarter now, and so we will be reporting earnings in a couple weeks give some insight into that i think when you look what happened here in the country you look at tax reform, and you look at the positive feeling here in davos that you have at least from economic perspective, i think that there is a great deal of optimism around the world. There is what do you think is important iing from it your standpoint, it is more than tax reform isnt it. Well it is if you look at the Economic Situation around the world, it is i mean the Central Banks have done a greet job you got stimulus in system youve had a great you know since the the 2008 crisis we got into a a steppsusd recovery what you see happening in business we have seen in davos if you go back three object four years internet of things now Fourth Industrial Revolution that is o occurring how do we redefine arc in a vehicleing conversations now technology permeating every aspect of life, and industry, and as that happens, as billions every things become connected, obviously that is good for us. Lets talk about that we were talking about yesterday everything in a car today Technology Related what areas of business are the most important in terms of powering your business. Happening across every industry primarily we have seen early adoption in manufacturing of industrial internet aretail. Sorry about that this must mean son won important is arriving a helicopter is here making lots of noise. But hopefully just passed. I will let you know when i arrived i wouldnt interrupt you like that you know we have seen Manufacturing Health care we see connected cars made announcement ces with hyundai a couple Car Manufacturers here what we can do together across our broader business just the connectivity of devices, the management of the data, the cybersecurity issues that are associated with it, they all provide great opportunities for us in the future. Maria yeah, because everything is connected, today so tell us how the cisco products connect. So i think circle to come back see if they make sure you heard them the first time [helicopters overhead]. Connectivity of platforms, of the in a minute. That is land here. Above us, helicopter. The issue is as we connect vehicles as we connect vending machines manufacturing facilities whatever they are, this is the largest machine to Connectivity Program move data to place they need it, and whether it is in a public crowd in a private cloud whether they want to accept manage that data the end of the network the network is playing a great role and then we fundamentally have to drive security in network because there is no perimeter to defend anymore. So sorry. Incredible having a conversation, with helicopters . We had one with a camera last year. That is right let me ask you quick in terms of geography where you see the best growth right now, europe is growing u. S. Obviously talking 4 are getting is there a corner of the world could go better on that others with regard to this activity. What i want to say we see probably more consistent growth around the world, than we have seen in a very long time, as evidenced by the discussions going on here, about when we look at the adoption of the technology we see tunz adopting to solve problems massive way massive scale india china, then obviously, developed countries, leveraging technologies to look at how we make cities smarter optimize traffic, and optimize Citizen Services happening everywhere amazing. Knowledgeabincredible how do this going. So long as this Industrial Revolution continues the network is Foundation Good to have you on the show. Thank you so much incredible this is funny. Cisco ceo we will be right back thank you so much. Welcome back to another Tennis Channel Court report special presentation, for fox business. Of them well 2018 Australian Open quarterfinal action day 10 in milosevic american interests in menz and womens draw the pyeongchang. Reached final four become the first south korean to reach the semifinals at a major. Elsewhere, short worker of madison in quarterfinal, american never found her game, as german powered to an impressive one and two victory. Tennis channel live life Australian Open continues wednesday 6 pm eastern. Announcer here again Maria Bartiromo with the special edition of mornings with maria live from davos, switzerland at the World Economic forum. Good wednesday morning. Thanks so much for joining us. Im Maria Bartiromo. It is wednesday, january 24 top stories right now, 8 34 east coast the white house did hecends on davos to leave washington for furthermore tonight trip as white house makes good on commander in chief promise to put America First, this follows overwhelming success of the tax plan, Stephen Mnuchin on the ground making news dollar is sliding this morning, after secretary mnuchin said weaker dollar is good for the u. S. Economy and trade. During a press conference, in davos, markets this morning, are rallying to look at futures indicating what we will see higher opening broader averages this i hear high of the morning up better than 100 points unchartered territory s p 500, nasdaq in unchartered territory nasdaq s p hit new record highs yesterday. Ahead of the trip investors watching earning this morning from likes of General Electric, and comcast among others ge reported earnings and revenue below expectation and, yet, the stock is trading higher. The stock up 2 1 2 as veers look for value come kat topped expectations that stock, lower european indices lower stocks weaker crop offing ft 100 down a half percent cac quarante dax lower, in asia overnight, markets closed mostly higher take a look, as you see hire expectation of japan three courtesy 1 topping news, President Trump and America First, at davos more than a dozen high level members of the administration, are arriving here to discuss economics trade cybersecurity a lot more, with the political and Corporate Leaders galloned here joining me right now gathered here you states secretary of energy great to see you president America First message how do you think received. I think he has to understand what America First means, to the president of the administration, and really Pretty Simple from my perspective this is about america being competitive, around the globally, when folks are thinking about when you want to apply energy from where do you want that next load landg we want you to think about America First. That is a good way to put it, the president has stressed, really tapping into our oil reserves in america,less talk about that, and where the opportunities are from your standpoint. Think about 10 plus years ago 2005, defining ourselves other places where oil an gas coming from we found it all, we heard all those stories then, you know by grace of God Technology by named George Mitchell from texas hydraulic fractureing came into play a big way we were able to go into type shale formations develop that now creating an absolute revolution in oil and gas completely changing a geopolitical dynamics in the world, with america being at the for front we are Number One Oil and Gas Producing nation on the face of the earth, who would have thought that, a decade ago that would have been true puts us in a very unique place, and here is what i try to share with all of our allies, and for all the audience here at davos. Is that the United States, is not just exporting energy, we are exporting freedom, we are exporting to allies in europe, the opportunity to truly have a choice, of where do you buy your energy from. That is free. And that kind of freedom is priceless. This is a really important point that you are making, because for a long time america was reliant on places like saudi arabia, and russia, to get energy, but today it is a completely different situation in perplex. How significant is a in america, how would you characterize the supply that will be coming from u. S. I am not sure anything since world war ii has been any more dynamic from my perspective than this shift in energy, supply, Energy Control if you will. And again, the United States isnt employ controlling a country with this energy it is about literally freeing up our allies around the world, letting them know that we are going to be there for them there is no strings were attached when you buy American Land g. That is world changing this president his message the United States is is it is a new day, the fossil fuels we are going to be relying on for decades to come. Are going to be available, now is our Technology Going to be able to allow us to use this wiser . With with better results for the environment, absolutely, the ccu, Carbon Capture utilization we are doing projects with saudi arabia. I will see my counterpart today, on a panel we will talk about the projects that were working on together, the uae, qatar all those countries, as we come together, to develop and supply the rest of the world with the power so that they can have manufacturing, that they can in africa being able to you know literally turn the lights on when the sun goes down, so that their children can read the people safer partly because of american he thinknuity, you are not going to find is there a way to characterize the supply that will be coming from u. S. Well, you know, i i hesitate to be a forecaster of what all markets are i leave that up to people substantially more into that than come on Energy Secretary, let me ask you my job to make sure the abundant supply i want to get people together so they know eric m america is a reliant supplier. It feels markets are focused more on potential for terrorism or disruption. We are all those. Those are realities of the world but the fact is, that we have an amazing supply. You think about anwar. About anwr Congress Working with administration said nine billion barrels are really important, to the United States and to the world, so opening up markets that at a previously Administration Closed i think a powerful message around the world that we are going to be a reliant supplier of energy into the he f foreseeable future. I think change in saudi arabia incredible change in other countries they see what to expect, from u. S. , by the way, what was behind decision not to drill off the coast of florida . You know, i think the administration through the the department of interior since it is to the issues there, there is plenty of space out there where gulf anwr, other areas, that we can develop the energy resource, the people of florida said listen we dont want to add any new drilling platforms the administration respected that. That was okay with the let me ask you about president s news this week that is the tariff on solar panels on washing machines there is conversation happening as you know, about worries about potential trade wars about what china will do in response. Should we worry about a different trade stance from this administration. You should not be worrying about this administration from the standpoint of transparency and fairness. That is what is donald trump is all about you want to compete against United States bring it, but dont subsidize in a way unfair dont try to gobble up, up all market all of a sudden after you choked about everybody else out of market prices go up this is a president that says look, i get it about competition. You are going to compete fairly, you are going to compete on a levelplaying field. President said as relates as jobs as well you look it is a energy story, that is a real job creator can you characterize what we might see from all drilling and the fractureing that will happen in terms of of job creation. Going to continue on, that is obviously for the states. Consistent. Not just the the jobs in states where it is happening, it is upstream excuse me downstream from that, the manufacturing. We think there is an incredible potential in the Appalachian Region to turn that area, into an absolute job creating giant with the development of the maricela shale with the other fossil fuels available there, you could duplicate footprint in Appalachian Region the jobs that get created i am promising you governor West Virginia ohio ken pennsylvania going to be absolutei saluting that saying make America Great again. Highpaying jobs. They are. How do you like the role of Energy Secretary what is most interesting job i ever had best job governor of texas this is most interesting cool evident job mostly because of 17 National Labs that are out there, involved in everything from cybersecurity, to the next wave of small he reactors to most fascinating new things that are going to be on horizon for america. Our National Thank you for leadership. You are welcome. Good to see you secretary rick perry well be right back. Weve been helping you prepare and invest for retirement since day one. 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If youd rather be home, ask your doctor about Neulasta Onpro. Welcome book General Electric reported earnings below expectations, this morning, Nicole Petallides independence on floor watching the stock. Good morning, everybody. We know that General Electric has been in a turn around phase last august the new ceo to turn this around today look last half hour, short time ago up 2 1 2 now up 5. 2 what happened here . We did see ultimately, that the company in the latest quarter really focusing on the overall Restructuring Plan weakness that theyve seen in operating profit the revenue but ultimately focusing on aviation and Health Care Divisions where they are seeing, some strengthen, there has been talk about this company, being beaten down, and dont forget not down 45 last 12mens is now time to get into General Electric you had this conversation, there is talk of dividing the company the turnaround restrictering under way the stock a big jump now up 5 1 2 , 1778 back to you. Maria all right. Thank you nicole, from the disney to verizon starbucks more u. S. Companies handing out bonus checks hiking wages after all very joining me host of Varney Company Stuart Varney to weigh in incredible look i would call it flood, look in the last 24 hours weve got disney, a thousand bucks to 125,000 employees, verizon 2500 worth of stock to employees, Jpmorgan Chase 10 wage increases for big swath of people a long list, just in last 24 hours. It is i think American Business was on trial, they got everything they wanting from the tax cut detail now indeed passing it on to the customers and also to employees. You know, the big passthrough i think is still to come. I think that will come from the big Tech Companies of this world, when they repatriate all that money i think a lot of it goes to shareholders. And looking for stock buybacks like comcast for example, and i am looking also for a dividend increases that is the next round in this floodch passthroughs and givebacks here it comes. Yeah, that is a great point i also add on to financial services, stu, because the banks really have not had the actual impact of regulation rollback that is to come, so there is enormous runway there as well. Look, it is a flood, that is what i am saying, by the way, how is davos treating you . Being nice to you . It is good i mean you know everyone talking about President Trump. Exactly. Coming tomorrow, wondering what he is going to say so definitely making a splash before he arrives. Stick it to them mr. President [laughter] see you 10 minutes thank you so much Varney Company begins top of the hour right avenue mornings with maria. Well be right back. Then at your next meeting, set your seat height to its maximum level. Bravo, tall meeting man. Start winning today. Book now at lq. Com im the one clocking in when youre clocking out. Sensing and automatically adjusting to your every move. Does your bed do that . Im the new sleep number 360 smart bed. Lets meet at a sleep number store. Reform trickle down verizon disney star picks perks as a result of tax cuts joining me from World Economic forum the ceo of Campbell Soup great to see you thanks for joining us what is your take on tax package. Well i think the tax reform will be beneficial for business. We at campbells are going to realize a benefit from the reduced rate being large United States company, we bear a right over 30 expected that will come down, prior to that time significantly. And what were going to do with that invest in our brands, and pay down debt because we just made a very large acquisition. Lets talk about that acquisition. How does this acquisition fill in hole that you were looking to do how does it give you scale and tell us about growth you are expecting as a result. Well, we have been on a journey to trans form campbells transition portfolio soup very posture category to deliver needs and wants next generation of consumers wapdz to diversify in faster growing spaces those are health and wellbeing snacking so acquisitions key accelerator for that. 50 dollars a share in cash people talked about this as really helping the company fill in areas because people are looking for healthier options tell us about it had. We believe this provides a snacking platform of diversified we have pepperage farm our meals as convenient males on trend with consumers doing maria only 34 of consumers eat three square meals a day, over 90 are snacking five times a day, so this is right on trend. Interesting, so the soup category, is that falling down . The last quarter a lot of people worried that it showed that were seeing a slowdown. There are pockets of growth in the soup category, for example, we introduced a new product we cocreated with consumers, that is targeted for younger generation, all clean label soups read every ingredient on label, dpreepts, on trend, we closed on acquisition of Pacific Foods a soup and broth plant based Beverage Company very excited about that company, and the growth rate of that brand is really exciting so we are starting to move into new spaces we even within soup category. Youve got a change as consumer tastes change people are looking for healthier options like kale, quinoa. Starts with consumer keep an eye on consumer they take you where you need to go we shop with them cook with them eat with them team having so much fun sometimes hard to get tome to come back to work. Getting from acquisitions or organic. You need organic innovation push thinking do acquisitions also have to ome. Strong. You got the basic, and you got the beefy. I just think it looks mean. Incredible. No way. Start your year off strong a new chevy truck. Get a total value of over 9,600 on this silverado all star when you finance with gm financial. Find new roads at your local chevy dealer. Thanks for joining us, everybody, well see you tomorrow. Heres stuart and Varney Company. Stuart thank you very much, maria. Almost every day this year, weve opened the show with this stocks are going up again. And thats how we start today. Stocks are going up today. Good morning, everyone. Its not exactly a riproaring opening bell rally but the dow will be up triple digits, and we will take it. This is now the longest winning streak for stocks since 1959. The dow has gone up in 14 of the last 15 months. There are has been no significant pull back for stocks since donald trump was elected president. And the list of Companies Giving tax cut deals to employees keeps on growing. Disney, bonuses. Verizon, stock grants