Transcripts For FBC Mornings With Maria Bartiromo 20240714

President mike pence mark short is with us this morning on iran, and as well the strength of the u. S. Economy today to really sock up who is needed fox news senior tszuj Andrew Napolitano weighing in on Brett Kavanaugh with a big three hours coming up and top story this hour is that attack. On Oil Production facilities in saudi arabia. The twin drone strike on saturday sending oil prices soaring intensifying middle east tensions, rebels claim responsibility for this. The u. S. Is rereleasing satellite foe e toes photos it is showing the impact it says came from the north and the northwest implying that tehran was more likely really the perpetrator here iran behind these attacks iran meanwhile deny any involvement. I spoke with michigan congresswoman and former cia analyst alyssa to sunday morning futures about it, yesterday. You are an expert in this field you did three tours in iraq yourself. What is reaction to what took place in saudi arabia . Ive seen the playbook before and iran provides material, with training, advice, counsel on how these groups can improve their capability i have no special knowledge on who is responsible for the attack. But i would not be shocked if it was, you know, a local group of group that was enable and supported by iranian training in leadership. And dagen you made the right point right at the top of the show the fact that u. S. Is now the largest oil producer, exporter going toward the largest exporter as well. Buzz of what has taken place in term of deregulation and what this president has done in terms of policy opening up on oil. It is in our National Security interest, and in order to be such a large oil producer but looking at the numbers so saudi arabia is said that it is going to be able to make back about 2 Million Barrels day in the of the 5. 7 barrels of loss production. This is still 6 of global output. This was going to hit asia, this is beginning to hit countries like china. Japan, india, korea, taiwan, biggest impact felt there. But President Trump he indicated on twitter yesterday that this Strategic Petroleum reserve in the United States is at the ready with 600 Million Barrels and fair supply in reserve. In order to make up any supply shortages and also the International Energy agency is standing at the ready with up potential release of of reserves there. The last time that happened with the i. E. A. Emergency release in 2011 for the because of the libyan civil war. That that took out 1. 7 Million Barrels a day. But tben this is a biggest loss of production on the world stage is since 1 0 since the first golf war so it was really it could have been a potentially catastrophic event in a different age. But because of the Energy Policy in this country and how much oil were producing as a nation we are we are in unusual position to stabilize the World Oil Market really incredible. Really even though we have that position to be able to stabilize the global oil market, that doesnt mean it is not boing to impact prices because they are up this morning and they are going to be up ons gasoline and saudi oil unlikely and david wrote it saying strike likely have a limited direct effect on u. S. Economy but could result in higher gas prices potentially exerting additional drag on slowing Global Growth we have a slowing growth story mitch. Interesting thing will be Higher Oil Prices are clearly inflationary and inflation is one of the things that fed is keeping a close eye on. Theyre meeting tuesday, wednesday this week so to be interesting to sew how they factor Higher Oil Prices. I would argue that a shock to price wouldnt be considered inflationary because it is neating. It is indeed fleeting and it would be more likely to be a drag on the economy. So it gives fed more reason to act and cut rates than the reverse. Federal reserve meeting this week, Federal Reserve meeting on does and wednesday september 17th, and 18 we are likely to see a court appoint cut from the Federal Reserve this week. Join me right now is u. S. Strategic advisor brett, and from Price Futures Group phil flynn, and let me kick it off with uhuh you give us a sense of the oil market this morning weve seen prices up almost 9 right now. Yeah a lot of traders were in shock this weekend you know there was had assumption, of course, that this too of thing wouldnt happen we were in a new era and we really didnt have to worry about about Oil Price Shocks anymore. And i go to your point youre absolutely right the United States being the biggest producer in the world is really soften the blow e. But it happened total remove the risk. And the bigst concern i think for oil market right now is not only how quickly the saudis can get production back online but how can they stop an attack in the future . Thats the key thing here. Listen, we have known that the rebels have been attacking for some time how did this happen . And can it happen again . Brett what do you say to this can it happen again and also the fact that iranians are pushing to say this was not then and who is taking responsible no comment on the fact that iran encourages the rebels. Well, theres no doubt in my mind that is the iranians they have everything to gain from the spike in oil prices they need oil l over 100 dollarses barrel to fuel their economy so it is clearly you know, the iranians in this case. But the attacks which you look at this really closely, it is one of the deepest attacks within saudi territory from with this type of drone strick and because of the conflict within yemen and saudi arabia you immediately point to them and assume that the drones originated from inside yemen. But as drone expert i look at this i stay how is this even possible . Vealed have reached a distance of almost 800 kilometer to oil field where they have their prime territory and that takes significant level of sophistication to do that and we can did that with satellites and ray lay system and physical relays in Different Countries that allow us to pump out these live stream videos to do that for a rebel group it takes incredible level of sophistication thats why i believe these attacks in originating in likely in iraq, and we probably have very strong evidence indicating that the iranians may have even been ones to ply it. Wow. All weekends i looking at Research Report from wall street analysts theres a lot of activity over the weekend as analysts were writing up what they thought the impact could be before monday morning opening for the markets. President trump tweeted on the attacks as well and he wrote this. Yesterday Saudi Arabia Oil supply was attack ad theres reason to believe that we know culprit our lock and loaded dpepgding on verification but waiting to hear from kingdom has to who they believe was the cause of this attack and under what term we would proceed. Brett, what should the u. S. Do at this poupt are you expecting a reaction from the u. S. A military reaction . I think that theres a possible that there could be some sort of military action to take place if you look at in last few week we saw a strike by the israelis on iranian based inside iraq that was preparing to sending droneses to strike some sort of israeli access and they stop that before hand. I think that what were seeing many this case is that we have clear evidence theres ran i can base from where drones originated but i want to talk quickly how to stop attacks in the future but we have ability right now the technology exist to be able to hijack the controls of a drone take over a drone remotely and land it faithfully this was not this was Sophisticated Technology not classified top secret tech were talking about. These Oil Facilities should be installing this counterdrone technology that is able to stop these attacks create these virtual barriers that can jam the signals of the drones so that these critical facilities dont have to deal with this problem in the future. Smg aiming to restore a third of lost oil output today. Thats according to the wall street journal, i want to i want out lindsay grandmas tweet yesterday before you answer, on saudi trying to trying to fill up what has been lost, Lindsey Graham tweeted this. It is now time for the u. S. To put on the table and attack on iranian Oil Refineries they continue their provocations or increase new clear enrichment. I think thats a possibility. Its sending iranian a quick message, it will have a major impact on the Global Economy and oil prices if that happens. Because we dont ask, dont dol happen after that but a high risk situation. I will say this President Trump is very good at trying to calm oil prices. Right as market was opening in the he came out with a tweet to release oil from a reserve and e reminding people theres plenty of oil out there so dont worry. Thats what he said in the tweet dagen plenty of oil explay nation point. Theres a concern about being a toibl ramp up production particularly here in the u. S. In the basin and shale formations that i know that they i think the u. S. Rig count is down to a 17month low down 16. From a year ago. According to bagger hughes and it is not that easy to ramp up that production here in the u. S. They have laid off employee and take weeks to put this back online they have a lot of drill but uncompleted wealth that they can try to bring on quickly but then you have issues of transportation, trying to get in online and were already pex porting a record all of oil so it is hard to increase that. All right great conversation guys were waving move that is hasnt been seen in a long time 9 the high per on oil, brett and phil flynn thank you so much gentlemen for your inside other top story this morning nearly 50,000 general motor autoworkerses have gone on strike. United call first job action in 12 years yesterday production expected to stop at 55 facilities across the country. Christina this morning is in Arlington Texas with the very leat this morning and good morning to you good morning sim standing in a plant that makes full size vehicles over 4,000 employee, the late shift switched over so fewer striking at the moment but i happen to be stand at the gate where management is expected to drive in so were gong to see a lot of people here in coming hours. You have the united autoworkers that are demanding that their work education get recognized. Some of the specific things that theyre asking from the three automake rs but today were focusing on gm is fair wages, Affordable Health care that was a very, very contentious issue because gmments workers to pay a larger portion of the health care you have share of profits job security, and seniority for those that are temporarily workers they also on sidelines talked about wanting to reopen self idol plant we know that gm has said theyre closing four plant across the United States. And maria you mention that 46,000 employees that could potentially go on strike today at 55 different locations, what were seeing from gm is they responded by stating that theyve already given 7 billion dollars back into the u. S. Economy theyve added additional 5400 jobs but the Vice President of the Union Autoworkers says their demanding need to be met. Listen many. Were standing up for fair wages. We are standing up for Affordable Quality Health care. Were standing up for our share of the profits 37. One of the women that i spoke to behind me shes been here six year she works on money line where they put door locks on and never seen a strike beef this was the first time weve seen a strike in past 12 years if workers continue out here for at least a week theyll start to get paid 50 a week from the union thats it but theyre going to continue to talk resume at 10 a. M. Eastern in detroit back to you. No word on what the impact could be on gm bottom line well be watching christina joining us this morning live real quick mitch your reaction. Health care a reaction with access to health care had the question will be with all of the democrats talking about, you know making that a Government Health care plan and taking away private health care. What their view is on the election and whether or not they would lose that benefit. Sands actually on his medicare for all basically giving the unions a pass that hes amended his plan as peesment to union. Trump responded and seen them offer their support this could be an issue where trump agrees with them. We know how he feels about a America First policy a lot of this strike is is about moving it out of the country. Getting to opioid and filed for Child Protection we have got the story when we come back. Stayhe with us. Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. For farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target. Blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Welcome back Perdue Farina so this filing coming few days an oxycontin maker filed for bankruptcy protection, obviously, were watching story this morning big news, that, of course, broke as far as oxycontin goes this was, of course, a bankruptcy change how the it beentive slents could be affected now many state attorney generals are going after Perdue Farina so, of course, this is something were watching throughout the day but theyre going to be removed from the major lawsuit for now and legally changing in the Perdue Pharma story. Again, just filing for bankruptcy protection this breaking news over the weekend. Now,let talk about beau, and news breaking there. There could be some changes coming to the 737 max, especially after those crashes, the wall street journal is reporting that companys bored expected to consider switching up the reporting structure for the engineers there. Now the possible change this could affect how boeing design cockpit and top a big issue for boeing that is a big suspect, obviously, in the crashes. They did report a sharp drop in production bigger last week follow the grounding of the 737 max that aircraft is stl grounded. And then there was this a rockandroll legend in pioneer has died. Lead singer of the band the cars legendary band found at a new york city apartment yesterday often. Apparently he died of natural cause he was just 75 back in 1978 the car shot to fame with their selftitled hit album which included you probably know know my best friends girl just what i needed some of the songs that they sang cars inducted into rock n roll hall of fame we should say just last year maria love the car hes beginning to be missed. Cheryl, thank you very much. Fake a short break when we come back is it business as usual probably not. Hong kong reopens to the public despite severe clashes over the weekend and after getting by the London Stocks Exchange and oil prices are jumping a after a drone attack on Saudi Arabia Oil facilities. Were going to break down the oil now up 8 and a third percent. Now back in a moment. Of a different kind. Adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what theyre working for. Liberty mutual customizes your Car Insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty that could allow hackers devices into your home. Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Welcome back markets are lower this morning taking a look at futures indicating decline of about 105 point on heels of the vaib oil attack. And the result in 9 gain in ol oil is soaring a after a drone attack on saturday on Saudi Arabian Oil Production facilities and blaming iran this morn joining us right now is cofounder and chief economist nancy it is god to see you this morning. One of the Big Questions here is will had the price of oil skyrocket so much . That it actually cut into the economic story the growth story across the world . Youve been right spot on in materials that have growth story. What do you think . Well it is stl a nude situation is we dont know yet how long the production will indeed be shutdown the good news is that American Energy renaissance is an incremental support that my colleague suggest we dont know yet if that is indeed enough. So far the increase in oil prices is not beginning to be a game changer for u. S. Economy. You need to see something up about about 23 you with need to see well over 100 base odd whan went back to look at yesterday. To really push the economy into recession and were not there and not clear were going get there. No recession worries for you this year. Not raising that recession no. You havent been and youre right go ahead. If we become a bigger export of oil it make up diives of the loss saudi oil what country has become buyers to that and does that change trade die die dynamic china was going to be buying natural gas overtime to be sure and United States end up being that important marginal supplier of oil to the world which would help to reduce the risk of Global Economic afnght from turmoil in the middle and middle east so to be sure. It is a positive trend were making but when you get a shock like this i have to be, you know, on my toes make sure it doesnt soar more than it has to really disrupt u. S. Economic afnght. Smg but what about the Lasting Impact nancy because this shows a new vulnerability . Absolutely in the middle east in terms of our shale production their major sphrur structure bottle necks one example not just in pipeline but ability to get the necessary, say sangd and water to actually do the fracking. Longterm what does this look like . Im out of my league im not a economy analyst thats why we have our economist stuart what i can say is ive gone back when we have shocklet take a step back. Two periods i think this was most familiar too is either gulf one or gulf two 19909 or 2003 and 19 0 you have shock oil prices did skyrocket and you have energy skyrocket. But you or already in a recession. In 2003, you have a similar shot but did not have a recession. Because the foundation of the u. S. Economy healthy so it is not it is not historically unprecedented to have this kind of oil shock i agree with you were still not at the point where yiet is koff set in the middle and not all trying to suggest that. But i would suggest that no as of now i dont think this increase. But two issues were watching. Theres the china issue and how slow china is moving. Is that economy slowing down substantially or what i want to get your take there and feds meeting this week. We are expecting investors are expecting that the fed will follow the ecb cut Interest Rates by a quarter of a percentage point and jay powell made clear he doesnt think recession is likely but headwinds are intensifying you yours said yes things are slowing down. Yeah. So first speaking with oil and fed if negative this increases odds of fed does more than otherwise would ill be listening to my colleague on that. Hes been expecting two fed easy moves here in 2019. But indeed if this energy shock is more severe as fed did in 2003 and in 1990 that could even more aggressively when it comes to china this day this morning kind of helped for me create a clear puzzle which is that why did china blink on trade and why did they withdraw the extradition treaty can hong kong because my in august was not as a robust and weaker than they would have expected and they reacted to that. And theyve reacted to that by continuing to ease and have the no just started the ease and just cut the triple r but theyve been easing for 14 month were up to almost 100 moves by we watch this very clogsly. Hundred easy policies by policymakers in beijing over past 14 months there are some sign that the economy was starting to improve. Obviously, not as much as i had thought quite frankly and so when fact change and indeed bay yin is reacting to this and they blink and pull become on the hong kong situation maybe not enough but theyve pulled become and going to continue in the community. Pajt fact that we have china output growth coming in at the weakest pace at 17 and a half year low we weak and worsenedded as well and this data coming in for month of august cheerily hitting not just the industrial sector but the Consumer Sector as well. This is again what they want to really protect i do want to take a little bit of a step back sometimes i find the news is a little not as bleak as data this morning suggest there are some sign and manufacturing pmi has gone up from 49 to 50 you have seen some incremental improvement and exports in china are up contrary to news analysis. Excuse me. Taiwan export to china are up. Again i give into the weed but there are signs the easing that theyve put in place was starting to help again, no question august was a set b. C. And i think thats why they have started to move aggressively on trade and domestic stimulus. Smg rate where they are can this influence not enough investment to keep the u. S. Out of what is taking place the rest the world, i mean, this whole coupling decoupling issue comes up when rest of the world is slowing and u. S. Is sort of like the gym in the Global Economy story. So the biggest risk to u. S. Investment is not Interest Rates Corporate Bond yields have plunged clearly through their low in 19 in 2,000 and 2016 on treasury it not Interest Rate issue but a Business Confidence issue so important that youve seen some movement positive movement on trade we need to stop the deterioration in Business Confidence now with the price increase of oil may keep it depressed not an Interest Rate issue. Yes low enough to support capital spend and turmoil in china, the turmoil should if anything further invest in the United States. Longer term but shorter term i have to watch Business Confidence closely. Because your report this morning on the heals of this keeping an oil speak in perspective every every scenario you write about has oil going up. Whether it is 80, 100 or 150. Right, and hope is you dont get to 150. Because that would indeed be detrimental to Global Economy. Nancy it is good to see you thank you for join. Nancy foundationer of cornerstone macro. Coming up Supreme Court debate fresh allegations against justice Brett Kavanaugh. Setting off a public fire storm judge Andrew Napolitano weighing in there and hot start a massive fire erupts before kick you have at the colts tige tan game what sparked the flame, coming up, stay with us. At synchrony, were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Have you lost weight . So, how can we change of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. It also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Thand find inspiration who win new places. Ct. Leading them to discover were woven together by the moments we share. Everything you need, all in one place. Expedia. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Welcome back good monday morning everybody thanks so much for join us monday september 16 it is a busy one 6 34 on east coast with breaking news this morning. The Saudi Oil Fields were attacked fearly 6. Of Global Oil Output has been taken out. President trump says that u. S. Is, quote, locked and loaded. As iran may be behind this attack. The Market Impact oil prices are soaring 9 right now. Saudi Arabia King Tom races to bring production levels back to normal. Futures are reacting to attack on stock as well pack a look at stocks dow down 126 right now and s p down 14 about and nasdaq futures are lore by 54. As stock investors react to oil which is up 8 and a half percent this morning. Last week the dow nasdaq and s p were up for a third week in a row dow closing friday about half a percent away from it all time record close. Global markets this morning look like this and here too weve got impact s p 500 down 17 and paris down 42 and dax index in germany lower by 87 and markets were mixed in asia mostly lower. Shanghai composite down a fraction and hong kong down half a percent and slowdown in china as well. Industrial output growing at this slowest pace since 2002. Just 4. 4 and retail sales came out, at a 7 and a half percent for august which was below expectations. It was up 7. 5 on retail sales but lower than what people were expecting. All of that Economic Data overnight out of china. General many tores work verse gone on strike. Nearly 50,000 workers walked in off the job. Were taking a look at whats at stake when negotiations resume later activist and some throwing fire bombs outside government headquarters. Police firing water cannon tears gas and rubble bullets. Plus fire on the field what led to this frightening blaze that break out before the Tennessee Titans in indianapolis and kick off game last night all of those story coming up this monday morning but first our top story this half an hour kavanaugh controversy. And explosive New York Times piece reporting new misconduct allegations against President Trumps Supreme Court pick while he was in college reopen intense debate over the confirmation and New York Times making major revision to the story saying several friends of alleged victim said she did not recall the assault. The president taking to twitter to defend twitter saying this now the radical left in the and partner the lame stream media are askingbred kavanaugh talking loudly of their favorite word impeachment an innocent man treated horribly such lies about him they want to spare him into turning their want to scare him into turning liberal affecting his choices and his decisions joining us right now is is fox news sr. Andrew and judge always good to see you. Your reaction to all of this. Well i was horrified when i read it and been through all of this before. Including i dont to use the victims name but including this same allege l victim and her process lack of memory i dont know the nature and extent to which the fbi made investigations. Senator grassley late last night said this was all looked at by the fbi and it wasnt even worth a public debate. Because this socalled victim didnt even want to come and testify because she didnt remember the event as new york tiles describes it. So i think that president is right. I dont know if this is amendment to turn him liberal but attempt to diminish effectiveness and doesnt have an army to enforce its decisions. It is decisions are enforced because they legal and Judicial Community respect it members. This is a this is a hit job and effort to undermine the respect accorded to its newest member now is this impeachable so same standard for impeachment would allow to a Supreme Court justice as to president treason bribery and other misdemeanor heres the phrase not in the constitution but lawyer and judge assume is. Committed while in office that is not in the constitution, about but it is assumed from the language madison used in this phrase and other high crimes in misdemeanors committed well in office. I suppose if somebody committed a crime in order to get into office, like lying under oath and in a kirchtion hearing, or bribing at elector if a president ial candidate were to do that, that would be an Impeachable Offense but because of the skittish nature of the testimony here, the democrats and my view making a big mistake by jumping on impeachment banding bandwagor justice cav. Hear about this book is not out until tuesday, Molly Hemingway from National Review got a copy she write on twitter this. The book notes quietly that the woman max named is having been supposedly victimized by kavanaugh and friends denies any memory of the allege event. Omitting this fact from the New York Times story is one of the worst cases of journalistic malpractice. J i fully agree with her and scandalous that New York Times would public something of this magnitude with such and not say by the way the victim doesnt remember this. Now sm media is police sit in all of this but same situation with the investigating the investigators story. For two years, about all we talked about is collusion that the apparently colluded with russians and that was top story everywhere not on this program i knew it from the get go i spoke with House Majority leader on sunday morning futures yesterday about an indictment for former fbi official Andrew Mccabe listen to the word he uses judge, acue watch this. A lot of people dont realize youre among leaders making sure that people understood what took place and you expose the fraud. What we were finding we have to pull this information out. There were people at highest level of government that were causing this about problem but were not allowing. We came the closest ever to this country having a cue and now we need accountability. Unbelievable judge. S that about as strong a term as could be used i dont know if hes seen my car thats Inspector General of the doj said last week as report printed i dont know. He takes letter to the chairman of all of the oversight committees and ranking members and he said look ive got the ig report, im once i received market documents back to the department and the fbi well proceed with usual process of final draft so that ig report now in the hand of william barr. So the reason it is in the hands of wem barr and crist director of the fbi is to make certain theres not confidential material in there about ongoing criminal investigations of which the i. G. Himself would be unaware but the attorney general and the fbi director would be. So that would have to be redacted from the public aversion of the report. So i dont know if congressman leader of the republican of the house have seen the report or if this is just a guess but he also said in the interview with you, i assure you indictments plural are coming. I assume he was referring to jim comey and to andy mccabe maybe referring to others but what everybody wants to know and we have never ever seen this in the 40year history of fisa is what was in the application to fisa the Foreign Intelligence Surveillance Act court but indude judge to permit surveillance on the flimsyist of e evidence. What wasnt in it. Exculpatory evidence transcript of a conversation had between jorge and informant because fbi sent informant at George George papadopoulos as early as march of 2016 sop when they say oh the investigation started in july of 2016, thats incorrect. That is a lie. So they have put that at him and he said like this and ive confirmed this with several parties. He said isnt this great that russia has the Hillary Clinton email thats great for your side truch will love that i thought are and george answered and said no. Thats not great at all i would never do Something Like that thats treason. Thats the conversation that was had between papadopoulos and informant that transcript was never given to the fisa court. Let me tell you having signed many, many search warrant in my career the government rarely gives you exculpatory evidence but they do so at their peril it was a very serious, serious case and i say where did you get this evidence from and search warrant i said what judge signed a search warrant for this with all of the these other means to get it and they started to giggle you did three years ago. I did. Because they did not tell me at the time they came to my home at 3 in the morning to sign search warrant they have this other material that they could gotten i negated through out evidence against this person and the prosecution was stopped in it tracks. Only reason im bringing up because media role in all of this whether brett cav in or fbi trying to frame l donald trump, they are reporting based on ideologies. Brett kavanaugh thing think about it this was not strangers reading a book and summarizing it. This was the authors of the book who work for the New York Times summarizing their own book leaving the most important fact thats in the book out of the article thats about the book in the sunday New York Times which just happens to proceed the opening session of the Supreme Court. Thank you. Andrew napolitano well be right back. This is the age of expression. Everyone has something to say. But in a world full of talking, shouldnt somebody be listening . So. Lets talk. We are edward jones. With one Financial Advisor per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. but when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. They give us excellent customer otservice, every time. E. Our 18 year old was in an accident. Usaa took care of her car rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. Welcome back and cheryl with more. Businesses in city reopen this morning amid what are now peaceful protest there and a medical workers protested a a hospital as they express support to be prodemocracy movement, but yesterday thousands of antigovernment protesters hit streets again some of them set fires and block roads and police fire water canyon and protesters clash with progovernment demonstrator. Well become on this side of the world Tropical Storm is now a hurricane National Hurricane centers since storm is strengthening with large swells affecting much of the southeastern u. S. Coastline. The hurricane now off the coast of florida now moving northeast and nearly 5 miles an hour and not expected to make land fall but did it drench bahamas adding to the massive destruction left by Hurricane Dorian there. And then this a fiery start to the nippings colts and Tennessee Titans game and Nissan Stadium in nashville yesterday look at this massive flames opting minutes before kukoff and mechanical failure with those who shoot flame during, of course, opening festives when teams come out, obviously, this put out the fire pretty quickly. Colts won if anybody cares maria. [laughter] 1970. Okay. Good if you wanted to know. Thank you, cheryl. More of a metaphor with that with the flame. Oh, god. Quick break and then Artificial Intelligence and todays economy one study says that a. I. May not be influencer investors are predicting. Stay with with us. 300 miles an hour, thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. I think in the short is run a. I. Is going to create a lot of astonishing examples of things that make thing more convenient for us. And problems like help pus to cure disease and do other things that we havent been able to do in the 20 to 25 year where were going to be right up against how to we manage these technologies so that we can coexist with them safely because they give people such power, and theyre so powerful autonomist on their own we may not be able to control them through both of the periods we have a substantial erosion of jobs as companies in order to be competitive get rid of lots of jobs not only blue collar jobs but qhiet collar jobs. That was the cofounder of Sun Microsystem bill joy with Artificial Intelligence to Impact Society particularly work force a new report from m. T. Says a. I. Only able assist with small daytoday tasks from completely overhauling operation and innovation. We are working on a onehour special on Artificial Intelligence and joining us partner and home bound cofounder john myer great to have this morning thanking being here whats your take on how it will change the lives lets call it the next ten years. Realistic right now theres a monumental societal change happening really right under our nose here an you see huge easts in a. I. Happening that are affecting the population and i think it started for sure in manufacturing. So you know, theres a reason why amazon recently had to save themselves the px r headache and announce a retrain program because theyre laying off so many people due to their a. I. Eflts to automate warehouse working, et cetera and then now you know we are about to see it in the world of both trucking and vehicle drive in next five years tops. And so in this i think we see in example of job loss simply due to fact you know that were employing millions of truck drives uber lyft and taxi ifer drew and it will not make economic sense for companies to continue employing these people once the ai gets good enough over the next few year. What strikes me about this story guys is the fact that with Artificial Intelligence typically over time weve Seen Technology replace blue collar jobs in a big way. But here, youre talking about a. I. Replacing skilled employees that have studied and have degrees these are white collar jobs that will go away, mitch. Thats bigst challenge i think about the secretary of pool of the 50s replace by cor bonn papers we placed by photocopiers thats a similar shift but here these are jobs that are going we that may never get replaced this was a 2020 misissue such a niche issue and they real this was a real concerning weve seen andrew like that on 2020 openly saying automation is beginning to be one of the big things no longer some niche issue impacting people in Truck Driving and uber as well. But fallacy to prom that manufacturing jobs are come back here to the United States to not bring back jobs weve lost to south china or last 38 year. All time high because of that animation. What should employee know that they need to do in order to be ready for this revolution happening in just in the last three day it is ive read through reports about the need to train yourselves and how work is beginning to change one from m. T. One from pbc. One thing that employees can be doing especially if youre in a high risk position like uber and lyft driver and i say number one thing is look for a highly skilled job that cant be disrupt ised disrupted. Paying a look at fox news special airing this sucked 8 p. M. Fox news Artificial Intelligence coming revolution september 22nd. Join us. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. Without me . Um. And when we knock out this wall imagine the closet space . Yes oh hey, son. Experience the style, craftsmanship, and technology that have made the rx the leading luxury suv of all time. Lease the 2019 rx 350 for 399 a month for 36 months. Experience amazing at your lexus dealer. Audreys on it. Eating right . On it staying active . On it. Audrey thinks shes doing all she can to manage her type 2 diabetes and Heart Disease but is her treatment doing enough to lower her heart risk . [sfx crash of Football Players colliding offcamera. ] maybe not. Jardiance is the number 1 prescribed pill in its class. Jardiance can reduce the risk of cardiovascular death for adults who also have known Heart Disease. That means jardiance can help save your life from a heart attack or stroke. Plus, jardiance lowers a1c and it could help you lose some weight. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it. With jardiance. Ask your doctor about jardiance. The type 2 diabetes pill thats on it. Learn more at jardiance. Com maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is monday, september 16th. Your top stories right now, 7 0. General motors workers are on strike. Nearly 50,000 workers walked off the job. Were taking a look at whats at stake when negotiations resume. Saudi oilfields were attacked. Nearly 6 of global oilout put was taken out of the market. Oil prices are up almost 9 right now. President trump says the u. S. Is, quote, locked and loaded with iran likely behind this attack. Exxon mobil and chevron rising premarket this morning, set to add a combined 42 points to the Dow Jones Industrial average. These stocks are up about 3 this morning. This as the Saudi Arabian kingdom races to bring production levels back to normal. Futures indicate a decline at the start of trading, dow futures down 105 points, s p futures down 12, and the nasdaq you futures lower by 48. This on top of another good week last week, the dow, nasdaq and s p were up for a third week in a row, the dow closing friday about half a percent away from alltime record close. Dont forget, the Federal Reserve is meeting this tuesday and wednesday. Were expecting a quarter point rate cut when the fed meets and announces it on wednesday. Global marchs gets are mixed. Fq100 is down 17, cac down 41, dax lower by 69 points, one half of 1 . Asian markets look like this. We did have a holiday in schwa pan. The nikkei japan. The nikkei is closed for that National Holiday. We got new information on the slowdown in china this morning. Economic data out of china he shows industrial output growing at the slowest pace since 2002. It was up just 4. 4 , below estimates. Retail sales also below estimates. Growth coming in up 7. 5 for the month of august, below what most were expecting. All those stories coming up this monday morning. Joining me to break it down, dagen mcdowell, h cab bought phillips and cobot phillips and mitch rochell. Great to see you guys. Dagen the u. S. Is the Number One Oil producer in the world, is an unusual position to stabilize the global oil market. Its incredible. To see President Trumps response, relatively tepid, given what weve seen from him. How different would it be if john bolton was still there. Maria an e op ed this mornint says time for the president to apologize to john bolton. This was his strategy. He wants to be tough on iran. Here we have this iran behind this major attack on saudi Oil Facilities, impacting the whole worlworld. Joanie ernst is here this morning, Robert Jordan is with us, chief of staff to Vice President mike pence, mark short and kelly blue book executive analyst, rebecca lindlen and Michael Pillsbury joining us as well. We have a big two hours coming up. Our top story this hour, nearly 50,000 general he motors auto workers are on strike this morning, the uaw calling the first jobs action in years. Kristina partsinevolos is in arlington, texas with the latest. Good morning to you. Reporter you have about 4,000 employees that work at this plant. They work on fullsize vehicles, cadillac, hes ca escapade, the suburban. Theyre demanding more from gm, the union, the theyre asking for fair wages, a share of profit. Gm made 8 billion last year in profits. Healthcare, this is a contentious issue. They expect at this point, gm, they want their employees to start paying more in healthcare. According to gm, their employees pay 4 of the cost. According to the kaiser institution, on average large corporations in america pay about 25 to 30 of the cost. Gm is taking a larger share and they want toes pass those costs onto the workers over here. We have about 49,000 employees that could po ten sly go potentially go on strike across the country at 55 different gm plants. Right now the company responded by saying they put back 7 billion in investments into the u. S. Economy and 5400 jobs. The uaw Vice President says their demands need to be met during these negotiations. Listen in. Reporter we dont have that sound bite. The important part from all of this is that the workers that are here behind me, theres about five of them at this location, theres 11 gates all around. So theyre disbursed right now. Its very, very early in the morning. Youre having a shiftover, some work the 4 00 a. M. To 8 00 a. M. Shift. They have said theyre going to stand here until this is over. Negotiations are set to resume at 10 00 a. M. Eastern time in detroit. Should this continue for weeks, which we havent seen in 12 years, they would get paid about 250 u. S. A week from the union. Thats it. Back to you. Maria thanks very much. Kristina partsinevolos this morning. Turning to the saudi oil attacks, the twin drone strikes happened saturday. Its sending oil prices soaring this morning, intensifying Mideast Tensions. Houthi rebels claimed responsibility for the attack. The u. S. Is saying iran is behind it. The u. S. Released Satellite Photos, take a look at the photos showing points of impact, saying it came from the north and northwest, implying tehran was more than likely behind the attacks. Iran meanwhile denying any involvement. Joining me right now is iowa senator, joanie ernst. Its great to have you on the set this morning. Thank you for joining us. What kind of response do you want to he see here . Your colleague, Lindsey Graham, tweeted this, its time for the u. S. To put on the table an attack on iranian Oil Refineries if they continue their provocations. The president says the u. S. Is locked and loaded, depending on verification. Were waiting to hear from the kingdom as to who they believe is behind it. Who do you think is behind it . Certainly the houthis are iranian proxies. We know that. Theyre engaged in nefarious activities here and elsewhere. So certainly there needs to be a strong reaction to what happened on the saudi oilfields, again, depending verification. We need to know exactly that iran was behind it. I do believe that they were behind this. And then be ready but it needs to be a global effort in response. Maria do you think we have our allies with us on that for a response against iran . I mean, obviously iran needs oil prices up for their own economy and they want iranian oil back on the market. Right. And i do think you would see a number of countries aligning themselves with saudi arabia and the United States in this action. But it just goes to show that the sanctions that we have against iran are working and the president has done a good job at pushing them very hard into new negotiations. Maria so what do you think happens from here . I mean, oil prices are up this morning. What if we have an elevated level of pricing where we continue to see prices move up and that impacts the Global Economy . I think the president has indicated more u. S. Poi Oil Production. Hes ready to expedite permits to allow tran transfer of oil. Maria from the Strategic Petroleum reserve. I. I see that continue. I think we need to depend more on our own resources. Maria i want to ask you about the controversy over Supreme Court justice Brett Kavanaugh. Theres a report of new misconduct allegations against him, it sparked calls for impeachment from a slew of democratic president ial candidates including congressman betcongressmancongressmanbeto o, cory booker, julian castro. But then of course late yesterday we get the little nugget of news, the times makes a major revision to the report and the New York Times reveals that several friends of the alleged victim said that she did not recall the assault, she did not recall the the you assault. We are in dangerous territory when reporters are not reporting accurately, something so significant as to this and then when there are actual allegations of Sexual Assault in any other circumstance, who is to believe who now. The democrats are heckbent on trying to sink kavanaugh, Justice Kavanaugh, and at this point if a having tim or survivor victim or survivor doesnt recall an event, maybe it didnt happen, who is to judge that. And for the New York Times to leave out that tidbit maria its the same thing as the story around the fbi with fisa abuse. Its for two years were talking about russia collusion. Yesterday i spoke with House Minority leader Kevin Mccarthy on sunday morning futures and the word he used was over what former fbi official Andrew Mccabe and his colleagues did, the word he used was coup. Maria you were making sure that people understood what took place and you exposed this information out. There were people at the highest levels of the government that were causing this problem but were not allowing it. We came the closest ever to this country having a coup and now we need accountability. Maria there was the closest anything f anybodanybody had evp and yet the media is talking about collusion, not this program because i called it out from the beginning, not very dir to what came out with Brett Kavanaugh. The victim doesnt recall anything about it, yet the New York Times and Washington Post are parading with sexual you assault claims. Right. The democrats o democrat and tht media want to pursue this narrative, whether its russian collusion, whether it is Justice Kavanaugh, whatever it might be, regardless of the facts. And its no wonder that the American Public does not trust congress. They dont trust their government because the government has layered lie upon lie upon lie. We need to know what the facts are. Maria and add the media to that, that the public doesnt trust. I want to get to your bill on defense spending because senator, youre introducing a new bill titled the defense storage and supply efficiency improvement act, aiming to give Congress Oversight of Defense Department Storage Facilities. You say it would save as much as 527 million. Explain. Right now, the dealt of defense has many many Storage Facilities all around the globe, mostly of course concentrated here in the United States. They have excessive inventory, inventory thats not necessary. So much so that they cant even track what they have in their inventory. Theyve lost items as large as a fire truck before. But by combining those facilities and narrowing down how many facilities are actually out there, it would save our taxpayers that 527 million. We have over 250 of these facilities in existence and even the dod has asked congress for the authority to rid themselves of some of these storages facilities. They dont have the authority to do that right now. We need to give them the authority. Thats what the bill will do. Maria people want to he see where the republicans are in terms of fiscal responsibility obviously, after that last budget blast that we continue seeing 22 trillion in debt, trillion dollar deficits. When do you think people the markets havent reacted but markets dont react until they react. Youve got record low Interest Rates now. When they creeping up, when they start creeping up, thats going to be an issue for the u. S. As well. Do you think were seeing a change in septembermensentimentn spending. Theres one party that is insisting theyre not going to budge, it makes our lives very difficult. What i hear across the state of iowa is we have got to get back to fiscal sanity and that means by taking such simple steps the dod is asking for congress to do this. They want to save those dollars. How much easier can it be . Maria you have to wonder where else there are opportunities to save hundreds of millions of dollars, since you found it in the Storage Facilities in dod. Real quick on some policy issues here. Youve got to get usmca across the finish line, i recognize it goes to the house first. Where do you see that and do you think were going to get a resolution before the canadian elections by the way, which are in october . The democrats are stalling in the house and its not about a political win. It should not be about politics. This is what is right for the American People and the American People are asking for usmca to be done. So i do believe that Speaker Pelosi would have the votes to pass this, should she bring it up. We need the pressure on those House Democrats to bring the bill forward. Maria what if it doesnt . What if she doesnt bring it to the floor . I think its a great failure on the part of Speaker Pelosi, a great loss for the American People, if were not able to work out a significant trade deal with our closest trade partners, mexico and canada. Maria that certainly puts in question any other trade deal that were going to do, if we cant even do a deal with our closest friends. Absolutely. I think by passing this trade deal and others like japan we would have greater leverage when it comes to china. Maria and the u. K. , well see if brexit happens, thats probably one of the key deals as well. Sooner rather than later. Sooner is better. Maria great to have you. Thanks so much. Coming up, saudi oilfields were attacked, were going to take a look at how its affecting stocks this morning, dow industrials down 100. Purdue pharma filed for chapter 11 bankruptcy protection. The next steps for the opioid company. Back in a moment. What do you mean. When you nod your head yes but you want to say no. What do you a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. Award winning interface. Award winning design. Award winning engine. The volvo xc90. Our most awarded luxury suv. I thats the retirement plan. E, with my annuity, i know there is a guarantee. Its for my family, its for my self, its for my future. Annuities can provide protected income for life. Learn more at retire your risk dot org. It also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back. Purdue pharma filing for bankruptcy protection of after its alleged role in the opioid crisis. Jackie deangeles joining us now. This is the latest in the saga that everyones been following, with so much attention on opioids. You have a company over the weekend filing for bankruptcy. Its seen as an action that will help stem the crisis its dealing with as a company right now regarding these lawsuits. Remember, thousands of lawsuits by not just states but als municipalities, accusing purdue of basically fueling the opioid crisis. Meantime, they did work on a comprehensive settlement and that would be part of this bankruptcy. Remember, not just going after the company here, it would be about a 3 billion payment there. But looking for 4. 5 billion from the sacklers themselves l. Were looking at this finger pointing, who started the crisis. So many people are saying is it the company, is it the middlemen, is it the doctors, do the patients have responsibility here as well . The journal is reporting that thsack disslers allegedly transd money through swiss bank accounts. Theres a lot at stea stake at m for them and for the industry. Maria they transferred money. In terms of this settlement, they would be on the hook for 4. 5 billion. Remember, this is the states and the municipalities. Theyre saying we have all these costs to recoup as a result of the crisis. Its not only people who have said their lives are impacted by this epidemic. Maria the lawsuits will likely continue, especially in the local and state municipalities win. Coming up, Mideast Tension the, futures are down this morning, were expecting a selloff of the stocks out of the gate after the weekend drone attacks on Saudi Arabia Oilfields. Then, contract he showdown, thousands of United Auto Workers are on strike this morning, demanding more from gm. Both sides headed to the table. Stay with us. Lets roll. Lets ride. You know, baker, i can help you with with that. Oh, no, its fine. Thanks, though. A man should cut his own lawn. [ lawnmower engine rattling ] [ engine starts ] maria welcome back. Markets are lower this morning, futures indicating a decline of 123 points on the dow industrials right out of the gate this morning as Global Oil Prices are higher after the twin drone strikes on a Saudi Arabian oil facility, this as the dow and s p are just about 1 or lower aaway from their alltime highs. Joining us right now is the ceo omarkem, jeffrey weiner. Thank you for joining us. How do you want to invest on the day the price of oil is up 9 and stocks are down 100 . Im not sure i want to invest today. The strike in saudi arabia was on saturday. Today is the first market opening since then. The markets are obviously going to react. But i think by wednesday, well be telling a different story. Maria that different story dagen is going to be the Federal Reserve. We have a twoday fed meeting beginning tomorrow. We are expecting a quarter point cut in the fed funds rate. Dagen if anything in the short run that this supply disruption because of the strikes on saudi arabia could cause the fed to ramp up those cuts or maybe cut quicker than we would think, maybe not a half a point cut at this meeting but this solidifies another quarter point cut after the quarter point you cut were expecting this week. Maria thats, what, december . December, they could have an extra meet field goal they wanted in between, meeting if they wanted in between, though. The bigger issue is global instability. You mentioned that your firm is around the world. How are Business Owners feeling about an uptick in more evidence of global instability. I think uncertainty is the biggest factor affecting the economy, especially in the middle market which is where we play. People dont like uncertainty. When theres uncertainty in the markets, people tend to scale back in capital investments, they tend not to make hiring decisions. Businesses big and small all like predictability and stability. Maria theres a lot of uncertainty right now with the tariff situation. We dont know what will happen in terms of this next meeting with the chinese officials in early october. We have new data this morning on the chinese economy. It shows that chinas august industrial output growth came in at the weakest pace, at a 17 andahalf year low. Retail sales also below estimates. The investment gauges there showing a gain in retail sales but lower than the economists expected. China is slowing right now. Do you agree with that . And that is going to impact the rest of the world, including the u. S. . First of all, you have to believe the you chinese numbers. I dont think weve ever been able to believe chinese numbers. Maria maybe theyre worse than this. It could be. The problem is, we have a Global Economy. And you want your trading partners to be successful. If theres a slowdown in china, theres a slowdown in japan, if theres a slowdown in europe, thats going to aaffect the u. S. Because were trying to increase our exports. If theyre having trouble in their economy, they wont have the money to actually buy u. S. Exports. Dagen i wonder, though, because of the u. S. s strength in the oil markets, if this doesnt somehow bring us closer to china. But with china and these other asian nations really reliant on oil coming out of saudi arabia and with our 600 Million Barrels thats in our Strategic Petroleum reserve here, i wonder if this isnt an opening for the relationship to be repaired at least in a small way. Good thing about the shale you industry, scalable. If they had to quickly ramp up production they could. If we got a deal done with china, if we get resolution with brexit, would that be enough to dissipate some of that fragileity we see. For sure, the biggest thing affecting middle market confidence is the trade war with china, are the tariffs. If we could resolve those gm is on strike today. The biggest export market for cadillac is china. Without china, cadillac goes out of business. So i think theres if we could solve the trade war, which is very complicated in itself, it would certainly go a long way to stabilizing the markets. Maria what do you want to do as an investor, longer term . You want stocks here or not . Today im probably on the sidelines. The market goes in quick cycles. Like i said, by wednesday well be talking about another story. A month ago, the dow was 10 lower than it is today. And so i think today is a wait and see day. The fed is going to meet tomorrow. Well see if the 25 basis points thats baked in already, the cut happens. But today, monday, im sitting on the sidelines but long term i believe in asset allocation. So if you believe that you should have 75 of your money in the market, thats where you leave it. Maria jeffrey, great to have you. Coming up, denying blame, iran says it is responsible for saudi oilfield attacks. The u. S. s next move coming up. And the uaw at odds with General Motors leadership. Thousands are walking the picket line. Weve got details later this hour. Back in a moment. So please love me do. Whoa, whoa, love me do. Ment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. Performance comes in lots of flavors. dramatic orchestra theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Happy monday day. Im Maria Bartiromo. It is monday, september 16th. Your top stories right now, 7 3. Breaking news this morning, the saudi oilfields were attacked saturday, nearly 6 of Global Oil Output has been taken out. President trump says the u. S. Is, quote, locked and loaded, unquote, with iran likely behind the attack. The Market Impact, oil prices are soaring this morning, up 9 . The Saudi Arabian government raising to racing to bring production levels back to normal this morning. Futures indicate a decline of better than 100 points on the dow industrials this morning. This on top of three great weeks for markets. The dow, nasdaq and s p were up for a third week in a row, up 1. 5 on the dow, the dow closed friday about half a percent away from its alltime record close. He Global Markets this morning are lower this morning, nonetheless, in he reaction to the price of oil spiking, fq100 in london down 10, cac down 37 and the dax index down 63. In asia overnight markets were mostly lower, although theres a holiday in japan. National holiday there. We did get new information on the slowdown in the chinese economy. Industrial output growing at the slowest pace since 2002, that was up 4. 4 . Retail sales growing at 7. 5 for august, again, below expectations for china. General motors workers are on strike this morning, nearly 50,000 workers walked off the job. Were taking a look at whats at stake when negotiations resume later this morning. Getting tough on vaping, another state moves to ban a flavored ecigarettes as Health Concerns continue to grow. First, our breaking news, the attack on Oil Production facilities in saudi arabia. The twin drone strikes on saturday sent oil prices soaring, intensifying Mideast Tensions. Houthi rebels claimed responsibility for this. The u. S. Is releasing satellite images, implying tehran was more than likely behind the ambush. Iran so far is denying any involvement. I spoke with House Minority leader Kevin Mccarthy yesterday about these you attacks. Your reaction to what took place yesterday. This is the same country that shot down one of our unmanned drones, the same country that put bombs on tankers, the same country that attacked saudi arabia more than 100 times. I think the way the Trump Administration has handled this has been tremendous. What hes done by making sure were not at war, moving military units over there to make sure to give a very clear message to iran of what they should should not be doing. Iran is trying to claim theyre at the table negotiating. Theyre the bad actors, the funder of terrorists around the world. We never should have gotten into the agreement in the first place. Maria joining us right now to talk more about that is the former u. S. Ambassador to saudi arabia under president george w bush, Robert Jordan. Its good to have you this morning. Thank you for joining us. You bet. Good morning, marie. Maria you heard the assessment from Kevin Mccarthy. Lindsey graham tweeted over the weekend, its time to put on the table an attack on iran from the u. S. Senator writes this, its time for the u. S. To put on the table an attack on iranian Oil Refineries if they continue their provocations or increase nuclear enrichment. How should the u. S. Respond, sir . Well, i think an attack right now is probably illadvised but it certainly needs to be part of the tools in our toolbox for future consideration. What we need to do now is marshall our allies, im disappointed that only the british have so far condemned these attacks. Id like to see a broader response to this from our allies. Secondly, i think the president is right to continue his program of maximum pressure. Clearly, the iranians are feeling the brunt of the economic losses that theyre incurring. This i think creates some opportunities for us to stay the course, to show that were patient, and at the same time stay with the saudis and make sure they understand that weve got their back if Something Like this continues. But the saudis have got to find a way to reassure the world that theyre capable of defending against these asymmetrical attacks which is potentially a gamechanger. Maria the president is making sure the world know thats the u. S. Stands ready to move. The president just tweeted a moment ago, heres what he said. Because we have done so well with energy over the last few years, thank you mr. , president , we are a Net Energy Exporter and Number One Energy producer in the world. We dont need middle eastern oil and gas and have very few tankers there but will help oural ellies. What do you make of the president s statement this morning . I think hes got a point in many ways. I wouldnt say we dont need middle eastern oil. We import perhaps about 10 of our oil needs from saudi arabia because of the particular kind of crude oil that our refineries need to that extent. But he has a larger point i think which is that we are quite sufficient. We do have Strategic Petroleum reserves, over 700 Million Barrels. Theres a glut of supply on the market right now. It just so happens, the supplies are at the highest point in the last two years. So in many ways, both american policy and the market have cob e converged to make this perhaps less disastrous than it would have been. Dagen does this show a new vulnerability not only to oil supplies in the region, in the gulf, but also to on a geopolitical level, and how the u. S. Responds and this president , isnt that one of the most critical things . It is critical. Theres a new geopolitical risk here now but i think aramco those take into account in its ipo and its operations. Merely having the United States available as a security guarantor is not going to calm the markets in that regard. So a risk premium is going to be priced into aramcos ipo, into oil stocks right now, in a way that i think theyve got to find a way to deal with. But i do think the larger point is important. There is a broader risk out there right now. American military power has to be ready to counter it, if possible. Our intelligence resources, though, i think have to be quite robust here and in concert with the saudis. So weve got a lot of work to do. Ambassador, good morning. Mitch rochell. One of the things you said earlier was the lack or the obvious lack of a coalition coming together to sort of Say Something very bold about whats taken place here and whether or not we can help countries like saudi arabia defend themselves. Thats right. I think the importance of our western european allies shouldnt be understated here. They are still trying to find a way to deal with iran in the midst of american sanctions under the nuclear agreement. They are desperate to do business with iran. And i think it makes it more difficult for us to cobble together any kind of coalition. Hopefully, these attacks will make our european allies realize what a completely lawless regime we see in tehran and a regime that really cant be counted on to abide by the normal rules of the road. Ambassador, you mentioned the United States keeping a potential military response in its arsenal. Can we expect what are the odds you would say of a saudi military response, either against the houthi ricardel houn yemen or against iran. The saudi military capability is questionable. The dougthey are notwinning the. If they amp up anything, all i think well see is additional civilian casualties in yemen. They need to find a political solution to this conflict. Theyre in a quagmire right now and i think this puts additional pressure on crown Prince Mohammed to find a solution. Maria can the saudis react to this and will they be able to defend themselves against future attacks . Thats what the journalthis mor. Irans return handshake, where john boltons strategy and why he has warned repeatedly that iran would take advantage of any perceived weakness in the white house. Your thoughts on that and how equipped are the saudis to respond . I think the saudis are not very well equipped right now to respond to this. They obviously havent figured out that an asymmetrical attack by drones or missiles or whatever has actually occurred here is a serious threat to their economy. Their economy solely based on the oil exports right now. So theyve got to find a way to defend against these attacks. Theyve also got to find a way from an intelligence standpoint to understand what the threats are internally. Its possible that there are individuals cooperating with the houthis and with iran within saudi arabia and theyve got to find a way to sniff out whats going on domestically as well. They have a serious defense issue here that i think we need to help them with. But its a gamechanger if they are this vulnerable under these kinds of repeated attacks by either the houthis or iran. Maria but l real quick, you dont think this is going to impact the u. S. Economy or the dent the economys growth because of the position the u. S. Is in right now with oil, right . I dont think so at all. I think well see the saudis ramp back up fairly quickly here and we have enough reserves to handle the situation. Maria ambassador, its good to see you this morning. Thanks very much. Thank you. Maria the question is will the u. S. Actually tap that reserve. I dont know. President said were ready to do so, plenty of oil. We can dip into the Strategic Oil reserve. Dagen it depends on if it would be ultimately up to the he refiners, really, if they need it in this country and one of the issues is we can try to ramp up production in the Permian Basin in the shale deposits but its getting that oil to the refineries and to market if you will that has been one of the kind of hurdles in the way of doing that. Its all up to the oil community. I think youll hear from them in the next 24 hours. Maria its a tough day for automakers, thats for sure. This is one problem the automakers are facing. Theres a contract showdown for gm playing out. The United Auto Workers are on strike, demanding more from General Motors. Both sides are heading back to the bargaining table. Gm shares are down two and a quarter percent this morning and the price of oil going higher doesnt help as well. Then fire up your taste buds, oreos new mystery flavor is anybodys guess. The correct recipe could net you thousands. Were going to take our chances and check out what this mystery flavor thats coming on the market is l. Back in a minute. Im living fast forward. Hill billy rock star, out of control. Ill be living fast forward. Now i need to rewind real heslow. That move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. i need all the breaks as athat i can get. Or, the day well finally get something done. At liberty butchemel. Cut. Liberty mu. Line . Cut. Liberty mutual customizes your Car Insurance so you only pay for what you need. Cut. Liberty m. Am i allowed to riff . What if i come out of the water . Liberty biberty. Cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria new yorks governor moving to ban sales of flavored ecigarettes. Cheryl carl ocheryl casone on h. Cheryl Governor Andrew Cuomo announcing the emergency executive action in an effort to crack down on vaping related illnesses among teenagers. This will allow state Health Officials to issue mea immediate regulations. Cuomo say the flavors are targeting young people. Vapeing related illnesses have killed at least six people and made hundreds sick across the country. Well, Global Regulators questioning facebook today about its libra crypt cryptocurrencie. Officials from 26 Central Banks are meeting with libra representatives. The Financial Times is reporting that eu governments are concerned that the Digital Currency could threaten financial stability. Weve heard that before. And everybodys favorite sandwich cookie, the oreo, bringing back its mystery flavor. So it looks just like a regular oreo but its it definitely doesnt taste the same. You get to go to the website, you have to guess what it is. They wont say until the contest the is over. Its going to be running from today until november 10th. And you have multiple guesses. There are lots of theories already on the internet. But, i mean, i smell cinnamon. Maria i smell cinnamon too. Potential Graham Cracker. Dagen i think its cinnamon toast crunch. Maria you cant eat these on tv. Dagen you get black in your teeth. Cheryl i smell cinnamon for sure. As long as it tastes good. I was at a Birthday Party this weekend and we deep fried oreos. So i would give that as a method to help bring out the flavors if you need guessing assistance. Hot oil brings out the flavor. Gram Graham Cracker. Maria cinnamon Graham Cracker oreo. Cheryl they should send the 50,000 to our gleet do w to. Do we each get 50,000 . Cheryl you can make multiple guesses. It looks like a regular oreo. Dagen its going to be like banana flavor. Its going to be Something Like completely [ laughter ] we should probably eat the entire package just to make sure. Cheryl or the producers will. Take your pick. Maria good stuff thank you for the cookies. Check it out. Let us know what you think, mystery oreo. President trump is just tweeting chinas economy and the Federal Reserve. Heres what the president writes. Prices in china shrank, the most in three years due to chinas big devaluation of their policy coupled with monetary stimulus. Will fed ever get into the game . Dollar strongest ever, really bad for exports, no inflation, higher Interest Rates, the United States because of the Federal Reserve is paying a much higher Interest Rate than any other competing countryings. They cant believe how lucky they are that jay powell and the fed dont have a clue and you now on top of a all, the hit, big Interest Rate drop, stimulus, the president s calling for stimulus on a day that the week kicks off when the feds going to meet tomorrow and wednesday. Were expecting a quarter point cut. Well be right back. Maria welcome back. The United Auto Workers are on strike this morning. A nationwide job action against General Motors beginning at midnight, a major sticking point, gms decision to close four u. S. Factories. Joining us right now is kelly blue book executive analyst and the founder of rebecca drive. Com, rebecca lindelin. Your reaction to this strike and its impact . I was disappointed to get the news they were going on strike because i dont think anybody wins. It doesnt help anybody. The Union Members go down to 250 a week for their wages and gm doesnt have product thats being produced. In tend, Consumer Choice is going to be limited if this goes on for a long time. So it all depends on how long the strike is. Maria theyre not going to change their plans to close four factories because of the strikers. One thing any business is going to do, theyre not going to negotiate with the union about how to run their business. Exactly. Also, this Union Leadership is very compromised by this scandal that they have going on. So they misused funds. They have a lot of answers to their constituents in my mind. They almost had to the leadership have to establish this strike in order to say, no were in it for your own good because they havent demonstrated that in the last number of years. Dagen to that point, ill add that uaw president gary jones, is quote, official a in the latest corruption probe documents according to reporting by the detroit free press, this is the latest complaint filed in the ongoing corruption probe into the unions activities. So youve got a lot of guts to instruct your workers to strike at the same time that potential corruption right up the food chain at the uaw. Theyre spending 250 on a golf club from misappropriated funds. How long will it take for the consumers to notice when theyre looking at cars . I would say 30 to 45 days. R50eug. Right now, gm has 77 dayf stocks at dealerships, inventory. If you want a pink cadillac, you may have to wait longer for that. That may be an impact. If you want a general suv or a sedan or something, you can go to your local dealership. So consumers wont feel the impact of this in terms of their vehicle choices unless it goes on for a while. Dagen its called a ford f150, thats why. I bought my pink cadillac last week. So were good. Maria thank you so much. Still ahead, Mideast Tensions intensify, iran says its not responsible. Oil is up 10 . Well be right back. E every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Tv aas many safety features powas the rx, the new. The lexus rx has met its match. If theyre talking about you. You must be doing something right. Experience the style, craftsmanship, and technology that have made the rx the leading luxury suv of all time. Lease the 2019 rx 350 for 399 a month for 36 months. Experience amazing at your lexus dealer. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Vestager. Welcome back. Good monday morning thanks for joining us. Im Maria Bartiromo monday, september 16 your top storied 8 00 a. M. On the east coast, we have breaking news Saudi Arabia Oil fields attacked this weekend, nearly 6 Global Oil Output has been taken outs, President Trump says u. S. Is quote locked and loaded with iran likely behind attack Oil Prices Soaring Oil stocks up rest of the market lower exxonmobil chevron up Saudi Arabian kingdom says it is racing to bring levels back to normal exxon up 3 3 4 not much for market futures reacting negatively a 90point selloff start of trading for a dow industrials subpoena futures down 9 1 2 nasdaq down 44 President Trump is doubling down on his attacks on Federal Reserve this morning, the beginning of the week where we are seeing a fed meeting, tomorrow, and wednesday. The president is calling for a cut from drrts last week markets up third week in a row dow, nasdaq s p up 3 straight weeks dow closing friday half a percent away from its alltime record close. At 27,219 Dow Jones Industrial average. Markets lower because of oil attack you see ft 100 down 8 1 3 off lows of the morning cac quarante paris down 32 dax in germany lower by 60 points in asia overnight, here is the story, japan is closed for National Holiday we got economic date out of join industrial pickup truck growing slowest pace since 2002 off 4. 4 retail sales coming up 7 1 2 for the month of august that, too, below expectations this morning, also breaking this morning, there is a strike against General Motors workers on strike, nearly 50,000 workers walked off the job, some have already taken to the picket lines this morning, supposed to happen at midnight we are looking at what is at stake when negotiations resume this morning gm shares down 2 1 2 , breaking news, twin drone strikes on Oil Production facilities in saudi arabia, moving markets this morning sending oil prices soaring u. S. Releasing Satellite Photos showing points of impact it will says came from north and northwest comlooig tehran was more than likely Houthi Rebels claimed responsibility chief of substantive to Vice President mike pence thanks for joining us. Tank for having me on noaa president wrote tweet u. S. Locked and loaded implying perhaps u. S. Is ready to responded to iran are we looking at military response here . On the horizon . Well maria i am not going to comment on this there are more meetings this morning National Security team i think locked and loaded means several things america is far better prepared to handle these sorts of events we are now in that exporter net exporter of oil not 70s oil embargo 1990 when iraq ined kuwait we can absorb much better worked with a small faction from saudi arabia some asian markets import more from saudi arabia, but United States, is a net he export producing 16 Million Barrels of oil day much of that has been because of the deregulatory agenda this administration, that is about enabled so much of that it is you look at today, all the examine Democratic Candidates onstage advocating abolishing from being aing from being aing abled us to be prepared. You have to ask if question how long will production be offline and will we will we get an update there, and will there be further escalation of geopolitical tensions will there be more attacks on saudi infrastructure . Well we know that iran has been trying to instigate attacks against saudi arabia sometime using surrogates houthi rebelels in yemen, and as secretary pompeo outlined we have far more direct evidence of their direct involvement this goaround what you know what actions we take i think will be coordinated with what our partners in the middle east want, but, again, pleasuriameri better protected to absorb shocks i dont i mean to be little the fact it will certainly affect prices across the globe i think the policies this administration advocated to make sure we are more energy dominant independent protections us. From is status of talks with. What is president planning i think more information in coming days at this points no is people want to know with a strategy is there is a the wall street Journal Editorial Board oped this morning titled irans return handshake, in it they write mr. Trump might also apologize to john bolton who warned repeatedly iran would take advantage of reprieved weakness in white house the Pressure Campaign working back up would encourage more military risks is the preside abannoning. To progress has been because we yietdz communities to put sanctions on iran causing iran to suffer we want the iranian people to experience freedom, and we know that debates between and iran helping that cause they are struggling enormously because their oil exports diminished to in all fraction what it was they want Oil Price Shocks no doubt about that goes to he reen force they are working. The president tweeted on weak data out of how it receipts to the Federal Reserve, here is what the president wrote United States Federal Reserve, is paying a much higher Interest Rate than other competing countries, they cant believe how lucky they are but jay powell the fed dont have a clue on top all oil hit big Interest Rate drops stimulus, mark president keeps slamming Federal Reserve beginning of the week where fed is going to meet for twoday meeting we know that we are probably getting with a quarter point cut is it appropriate to constantly poke the fed like this . Maria i think plenty of evidence that previous agenci administrations arguing in this case president has strong hand raeth is International Rates the gone negative not what our actual rate is the delta across the globe that does put the us to disadvantage we feel the feds should be focused on inflation, there is no evidence, of inflation, in fact if they poll phillips curve say because employment increases there must be inflation that follows we have not that we are celebrating record low 50 year low unemployment inflation is not followed, so fed is has moved quickly, to raise rates, that we think that again there is not evidence of it, of inflation what have you seen internationallys Central Banks lowering rates now negative rates delta is quite dramatic. But when you have negative rates you indicative of an economy that is struggling the president is talking about a full point he said look we should be at zero, even lower so in other words, suggesting negative rates why would the president want negative rates for economy that you always say and all in our colleagues continue to note is doing very well, 51year low unemployment you really want negative rates when we know what negative rates i mean in germany it means they cabinets generator any growth. I dont think we are dwogdz for negative rates i think what the president is trying to do is to highlight difference between our rates and global rates puts us at disadvantage we celebrate the growth hype thetdically speaking say the president is right jay powell messed this up what is plan b, if economy worsens look at the what weve got to show okay weve got 3. 1 growth in the first quarter, that is slows 2. 1 second quarter, we just got a jobs report that was 130,000 jobs okay, but, you know, much lower than we saw a year ago when average was like 170,000 or so what is plan b, if this slowdown continues in the u. S. Do you have any fiscal policy i guess i take issue with the question, because i dont think we see evidence slowdown when a we see jobs that are 6. 3 million new jobs created since donald trump became president you see wage growth over 3 for 13 straight months maria true, yep. What we see is actually the American Worker benefiting from economy i think this is the president says, we believe that the fed probably reacted too quickly in raises rates the way they did we think economy is about about incredibly strong ground we continue to see growth. You continue to see growth no recession at hand yet we are seeing numbers slow down because partly the president s trade policy right the uncertainty out there, around china for example, around usmca for example, has managers sitting on cash last reading showed capex down what do you say. I think one of the best Things Congress could do is work to pass apple u. Usmca. Auto workers authentication a strike there continues auto production in mexico increased this pet negotiated a better deal to maker aurt worker nerz United States are protected democrats in congress refusing to bring it up for a vote the votes are there to get it passed object china, if you discuss network many times this president is finally addressing things other president s didnt, we need to have a shift there we need to have a shift away from stealing intellectual property a shift away from, from the way they have forced transfer of technology. Maria yep. This Administration Standing up for the American Worker going to be probably protracted negotiations we have an opportunity the president changed the conversation, around china, no doubt i agree with you. However, now chinese want to separate this conversation, into two different parts they want to say okay, we will buy more stuff we will we wont tax soybean and pork, they need pork they have 250 million sick pigs because of swine flu ole other conversation chinese say one conversation on trade put National Security issues to side can the president do that after educating the public about the bad hair of obehavior china. There is no doubt that we have National Security concerns, but maria go back to where we started this conversation not just usmca the president is negotiated are free trade deals with south korea negotiating new trade deal with japan ask you to to begin trade deal with u. S. As soon as brexit is completed we believe a lot of trade opportunities to get this economy growing even faster, but as you said china is a is a bigger concern has been one for decades, this country has noted addressed. Maria absolutely mark let me move to Brett Kavanaugh this cover worst over Supreme Court justice the New York Times reporting another Sexual Misconduct allegation stemming from College Years at yale then late yesterday, the New York Times revised the story, and it reveals several friends of alleged victim said she does not recall the assault. This is the worst piece of journalism i have seen several democrat candidates still calling for Justice Kavanaugh impeachment right after that story broke your thoughts. I think a sad day in journalismism we find continue assault from this approximation people this administration nominated i think shocking the New York Times would publish a story when oolgd accuser as you see she has no recollection of such event didnt stop from running a frontpage story trying to malign Brett Kavanaughs character i think rattled is most stories come out of whens press corps to be se. C. Violations they are campaigning Election Year to other side there is no longer fair, balanced coverage, of this administration, or the people that weve noted for court positions. You want to. Sec violations. I am saying maria no doubt press is biased in basically looking to advance democrat interests. No biggest on this program we say facts as we see them, marcus u. S. Story, seem to seal beach at stall mode the president hoping the courtHouse Democrats to courtHouse Democrats to bring the bill to the floor addressing Major Concerns on intovment labor environmental pharmaceuticals i know Bob Lighthizer has been out, talking to, congress, going to canada talking to the mexicans canadians let me ask you, usmca is talked about as if it doesnt have enforcement mechanism in there to make sure u. S. Workers dont get dont dont get you know, screwed in terms of salaries is there an o enforcement mechanism in usmca to make sure u. S. Workers make 16 dollars an hour or higher than membering works make 1. 50 an hour . Absolutely Enforcement Mechanisms done a great job negotiating a better deal, these constant communication with House Democrats we still think progress is being made we are zour to get a vote because we think in many cases these are excuses that are being raised just to delay it. The reality is that that auto worker in america the ones being disadvantaged, this president has negotiated better deal to protect them we can get it in place as soon as House Democrats would allow a vote in the house because senate is skoish to take its up pass as well we can get to this president s desk in a hurry as soon as democrats are willing to bring it up for a vote. Do you have any idea any sense whether or not it is going to come to the floor for a vote before october elections in canada . Quick. I dont know that we are going to get it before october we believe we believe should have been been done before august release we are anxious to get it it done. Mark good to see you. Joining us there we are covering breaking news General Motors 50,000 workers, are going on a nationwide strike today we are taking a live to texas with the latest hostility in hong kong crisis shows no signs of stopping as violent protesters resume for a 15th straight weekend. All that next. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. Performance comes in lots of flavors. dramatic orchestra theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. Welcome back nearly 50,000 gm autoworkers on strike, the United Auto Workers headed to the picket line calling it first job action in 12 years, Kristina Partsinevelos is outside gm plant in arlington, texas kristina. Reporter . Thank you, maria i am at plant over 4,000 employees they make larger suvs, here is what employees rights now behind me dishe percented december percented 11 gates one on door laches another a driver for gm what they are asking for the Union Members across country for fairer Wages Health Care contentious issue dont want a higher fee in health care, of course, opening up idol factories, you have gm responded saying they have already invested seven billion dollars back into the economy, here and given extra 5400 jobs, so they are still negotiating at the this point you have politicians that are weighing in like julian craftro tweeting i quote ceo gm made 22 Million Dollars last year 281 times the median gm worker i stand with 46,000 uaw members move to strike for Affordable Health care and fair wages you have all of their demands, listed you also have a Union Scandal that could be overshadoweding the negotiations, allegations that the union the uaw president potentially could have misused union dpeez could have also taken bribes from automakers, so you have one huizenga rents michigan listen this. Here is what i am hearing though is that they are very, very concerned about the leadership of the uaw some are already in jail. Making sure that is not for them but for the members. Yes, yes theres a massive one going on here who is a we need to do is pass usmca that will help us as were moving forward. Usmca has to go through congress gm negotiations at 10 00 a. M. Eastern time they will continue, strikers not going anywhere back to you. Maria kristina thank you Kristina Partsinevelos in tickets new fallout from saudi oil strikes saudi officials reportedly considering delaying the i ram coipo the latest coming up on that next strategic war disney ceo i gor resigning from apple borders the companies preping to headtohead in the streaming wars, back in a minute. It will be all right, everything is gonna be all right to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. This is jamie. Youre going to be seeing a lot more of him now. Im not calling him dad. Oh, nno. Look, [sighs] i get it. Some new guy comes in helping your mom bundle and save with progressive, but hey, were all in this together. Right, champ . Im getting more nuggets. How about some carrots . You dont want to ruin your dinner. Youre not my dad thats fair. Overstepped. Thats fair. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Maria welcome back big breaking news of the day, the Saudi Arabia Oil attack opec russia say they are going to hold off on purning more oil for gas if the Global Supply drone strike wiping out half saudi arabia daily Production Capacity officials now reportedly considering delaying the major ipo of saudi aramco joining us Portfolio Manager thanks for being here. Thank you. Give your reaction, to what toop took place over the week impact on Global Economy. Well yeah, it is a wig deal in the Energy Sector he going for a couple decades things like this dont happen every day, so what is going to happen from here going to be a geopolitical premium added probably 5 dollars seeing a mover up about five dollars reflects risk of Something Like this happening in the future again. We have been talking to morning about how resilient the u. S. Is economists say drone strikes will will little impact on u. S. Economy because of the strengthen in fracking, and u. S. Becoming the the biggest producer exporter but still results in higher gasoline prices right. A little bit a good point you make think about withstands if this would have happened 10 years ago, oil prices would have been up probably 20, 30, 40, 50 we would he have been on the verge of Global Economic crisis, but because the u. S. And u. S. Oil procedures have been able to double production, environment where yes prices up gasoline prices up a bit 25 cents or show were not on verge of a Global Economic crisis because of an event like this that is a testament to some of the great things that the u. S. Oil producers have been over the last decade. O good morning mitch roschelle. If dollars rotating towards oil oil related stocks like producers so forth where are dollars coming from other side of the trade dollars rotating away from another asset class . Yeah mitch very good point september big rotation out of sectors, health care industrials into energy the reason why, is if you look at Energy Sector is essentially, you need it energy you need infrastructure, to rub effectively what you have seen several weeks rotation in a energy the Energy Sector roughly trade half value ebitda, 1 2 is time of Market Investors starting to come back this we think will accelerate that transition back into the Energy Sector. What does it do long term for Oil Producers something they are more aware of taking precautions against they see or any attacks to oil spruz does this change operating moving forward. U. S. You think about it, if equivalent to this attack taken offline roughly 4, 5 Million Barrels of Oil Equivalent to entire Permian Basin in terms of production u. S. Has taken steps to improve security access to Oil Facilities access to air, and monitoring what is going on in air, if you think about the the infrastructure across u. S. It is really critical as well spreads geographically across u. S. Not as concentrating as you have seen in saudi arabia the risk of Something Like this happening in u. S. Substantially less than obviously, globally. Last weeks rally was driven by banks, and Small Companies with exposures here to United States would with you allocate new money to tho sectors hot in short revenue. We are focused on Energy Secretary of sta sector the Teal Energy Deal how do you reduce Global Carbon emissions we are focused on natural gas stocks under infrastructure stocks we think a significant opportunity over lungrun. Saudi officials seeking clarity on damage before changing ipo plan according to dow jones do you jones says there is a possibility saudis will pull saudi arabia ipo what do you think the governance issues associated with that governance important for us here right now the focus needs to be on the facility more importantly Going Forward securing facilities Going Forward probably the last time the Strategic Petroleum reserve was tapped in 2011 coordinated move with International Allies to push pack at libyas disruptions do you think there is a coordinated International Group in placeing to against iran should we get the confirmation that it was iran . Well, it is so what i think if you want to replace this is where real u. S. Played role plays a role if we need to increase Oil Production if duration of the saudi o oil eliminations is extended there are plenty other countries can fill gap u. S. Can fill the gap even if time so can uae kuwait currency around the world we dont see this being a longterm, the World Oil Market were not running out of oil plenty of inventory Going Forward. We leave sit there good to have insights, hoilt in hong kong crisis shows no signs of stopping 15th straight weekend of protesters this weekend, then one of the hottest homes in Beverly Hills hittinged the market for 12. 2 Million Dollars, we are taking you inside see why promising a Healthy Future to one lucky owner wait till you see what is going on in real estate they as the, stay with us. Is a you say goodbye i say hello, hello hello i dont know why you say goodbye but what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Im working to make each day a little sweeter. Adp simplifies hr,hange benefits, and payroll for magnolia bakery, so employees like sarah can achieve what theyre working for. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Maria o welcome back. Good monday morning. Thanks so much for joining us. Im Maria Bartiromo, monday, september 16 top stories 8 33 a. M. East coast we have breaking news, the Saudi Oil Fields attacked over the weekend, nearly 6 global oil pickup truck has been taken out of the market. Oil prices are soaring this morning, youve got oil this morning up better than 10 on brent as well as lightsweet crude now, saudi arabia officials are reportedly considering, a delay, to the saudi remain coipo was going to be biggest ipo ever waiting to see damage before that announcement the, futures, according to dow. We are looking it is a investors react negatively to spike in oil s p futures down 10 nasdaq futures down 44 Higher Oil Prices, will conceivebly cut into Economic Growth there is expectation the u. S. Much more resilient today given fracking expertise. Ft 100 in london down 13 cac quarante paris down 33 dax in germany down 68 asian markets like this japan closed for National Holiday Economic Data out of China Industrial output grew slowest pervasives since it would have it was up 4. 4 retail sale up 7 1 2 there, too growth coming in below expectations, chinese shanghai composite overnight down a fraction, also breaking this morning, the strike at General Motors workers are on strike, nearly 50,000 workers walk off the job, another weekend in violence of violence in hong kong, activists blocking roads some throwing firebombs outside government Headquarters Police are firing water canons tear gas rubble bullets, apple 14billiondollar battle the Technology Giant about to challenge, an eu ruling on back taxes bob iger says goodbye to the board of directors of apple as he gets set to compete in streaming wars, this real estate lifestyle play to Healthy Living to boost sales prices, taking you inside a 12milliondollar home focused on wellness, all that coming up this monday morning, but as first top story this half an hour, futures set to open lower this morning days after a drone attack on Saudi Oil Fields, Deirdre Bolton on the floor with reaction. Maria that is exactly right you are talking about prices of oil making Equity Investors feel higher cost of energy could slow the Global Economy not so much u. S. Economy but with all interconnected you can see what that is doing futures indicating a lower open clearly there are two stocks were watching apple and deniisney. Eas you has filed landmark case, it wants apple to pay 14 1 2 billion dollars no in all see if there they say. O 05 apple said by irish subsidiary noted fair apple says we followed u. S. Laws and irish eu laws following stock all day apple missing one famous board member when i sat down with ceo of disney iger in may i asked if he thought few of frenemy sayings. We spend more time worrying about focused on what were making how we are delivering to consumer less about academician doing. You dont feel a weird frenemy can when you go to apple borrowed dont feel you should recuse. I do recuse myself apple television, i step out. Coffee break. Yes my email break. Coffee break said the coffee break also email break when checking emails on his ipad but streaming wars heat up disney apple go ahead to headed bob iger fell maybe shouldnt be in the bureauedroom. You are spoton asking him that question great reporting thank you so much Deirdre Bolton floor of New York Stock Exchange top story this half an hour, the crisis in hodge hong, business in city reopened this morning amid now peaceful protesters, thousands of antigovernment protesters hit streets yesterday though some set fires blocked roads, police fired water canons tear gas rubber bullets protesters clachd with progovernment demonstrators director for center of chinese strategy, Michael Pillsbury good to see you. Thank you for being here. Our leaving tomorrow for beijing in hong kong going on a trip . Yes. I want to get your take what you are expecting because, my brotherinlaw was in hong kong sent me a picture of the two Million People right outside his hotel room, get this when he left his hotel room to go somewhere he had to walk through to protesters, he said it was the most polite and quiet and calm situation he had ever seen yes two Million People but doing in such a calm way, according to him. What do you think . I think that is right. The people of hong kong have already demonstrated several times, had past 20 years. And had success, in getting some majors withdrawn being considered pro beijing a trajection of peaceful demonstration the good thing beijing said that last couple week Peaceful Demonstrations are okay beijing doesnt want 70th anniversary of foundation to be spoiled, there are some bad trends counter demonstrate straight sorry show up times called mafia by some could be triads, people tradition today by china not good the problem is getting negotiations going for good conditions demonstrators dont have a leader rotate leadership, and so it is hard to get talks started on that they call five demands next step to look for if there could be enough stability that leadership will meet with carrie almost a and her team and this can be turned into an issue of how to abide by the 1984 joint declaration. China itself promised carrie lam her equivalent, in the past in future is not a communist not coming from beijing has to be local hong kong person not have a passport with any other country, so there is a promise of higher autonomy what is called the for lack ach better phrase in glirn Univers Univers universal suffrage. They want to elect their leader, in that universal suif ifr age that is put pressure on xi jinping to perhaps do a deal with president with u. S. . Well one thing, you can say about President Trump i reallyedreall mire him for this negotiating skills he sees helps as deal maker i think wants a Monthly Trade deal called it granddad of all trade deals wisely put de talks. Both comments to the press andc will delay making it possible the trade talks being successfully included with bad economic date ot out of china puts xi jinping in a box in terms of choosing which waying to i have a hunch things quiet down in hong kong, trade talks will be successful and what the president calls granddaddy of them all deals. You do think we will get a deal at some point . I think we came very close. Back in early may chinese reneged on some aspects of it, doesnt mean the whole thing goes down the drain, it means that the chinese are testing the president frankly, they are a little bit confused one purpose of my trip i have been told by a lot of chinese delegations maria steve bannon, and john bolton and friends outside speak for the president. I dont think that is true. Steve bannons Group Committee on present from china want to overthrow chinese sxhu. Party say coexistence is impossible. Want to destroy look at with a Bannon Bolton say is counters productive i think the president does not debris with bannon and bolton on the future. Look what this is doing to hong kong long seen as international hub, for global business, there is a new oped in the adjourn editorial borrowed with a piece why london spurned hong kong board rights hong kongs government rushed to blame people for economic damage the real problem authorities no hong kong by a are eroding the reputation as place where Property Rights are protected courts independent and corruption is low, rule of law under pins hong kong status as Global Financial capital this is becoming an economic one in letter that the london Stock Exchange sent to hong kong Stock Exchange in that letter london board know this hong kong stock shares make up threequarters of the 36. 6billiondollar bid and they write we see the vam of your Share Consideration as inherently uncertainty the ongoing situation with hong kong adds to uncertainty, furthermore we question statement of Stock Exchange position as strategic gateway in longer term not just President Trump questioning all of this but, you know, the world is looking at hong kong differently. That is right. The within we should all be concerned this use of violence by the unknown people who are attacking the demonstrators provoking things worse if they are shown under the control of xi jinping, that is very damaging for the trade talks and future of hong kong. Michael before you go. Volunteers that is different. I just got to get do you think the president is going to separate two things a trade deal and National Security he cant do that right . National security the president is focused on t monumental trade deal a Campaign Promise separates him from democrats very important in 2020. That is what his focus is mon yu mea yu. O monumental trade deal he has allotted more he is kalatory steps chinese vulnerable the key thing whether the chinese view of President Trump is boltson bannon speak for him they dont want to make deal. We hope you come back after back from trip to Hong Kong Beijing good to see you i will bring you a souvenir for you i look northward to it will continue reading your book outstanding the book by michael, 100 year march good to see you. Thank you, we will see you soon Federal Reserve is in focus, investors are watching the central bank ahead of big ask decision this week meeting tomorrow and wednesday expecting to see another 25 base point cut wednesday afternoon then mega mansions one Beverly Hills home hitting market 12 and a quarter Million Dollars equipped with Yoga Instructor a virtual trainer we are taib you go inside before the new owners move in. Award winning interface. Award winning design. Award winning engine. The volvo xc90. Our most awarded luxury suv. Problems. Nobody likes problems. But why is that . At ibm, problems actually inspire us, to fix things, to change things, to push the world forward. Which is why so many people who dare to take on problems work with ibm. Which is why so many people every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 a month for 36 months. Experience amazing at your lexus dealer. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. Maria we are waiting on Federal Reserve, the a central bank sfoepd clifr a quarter point rate cut this week about twoday meeting beginning tomorrow and wednesday. Wednesday 2 00 we are expecting to hear jay powell say they lowered the deposit rate quarter point everybody in line with that dagen the expectations in the market 90 dagen yeah far and away a quarter point cut already baked into the cards, very little chance of a half a percentage point cut but i do think that this gives what happened with saudi arabia and the strike, and the 5. 7 million barrel per day lost the least short run pickup truck will give the Federal Reserve, to move even more later in the year, because, again, short run this is n deflationary if prices go up scomlant in the u. S. Will slow growth. Maria i think a balance what is i inflationary what is slowing growth eth figure out calibrate between two i am looking at quarter point this time, and maybe one more this year. President trump see if satisfied lobbying hard on twitter, i think we know what we want to hear what fed has to say where we are in Economic Growth story right they are going to have to tell us where we are in terms of the global slowdown what the real weakening signs are because you heard marc short said things are not slowing we are in 51year low unemployment. Manufacturing is contracting con tracted recent month Business Investment slowed hurt as talked about earlier to the extent this attack and this disruption in oil pickup truck in saudi arabia impacts Business Confidence again these are ceos that manage companies around the world that kind of span the globe. And so it could have additional impact on confidence. I can really excited about next story coming up one of the hottest homes in Beverly Hills hitting the market 12 and a quarter Million Dollars promising a Healthy Future we are taking you inside before the new owners move in wait till you see wellness stuff in this house. Back in a minute. Built for you. So why isnt it all about you, when it comes to your money . So. Whats on your mind . We are edward jones, a 97yearold firm built for right now. With one Financial Advisor per office, were all about knowing whats important to you the one who matters. Edward jones. Its time for investing to feel individual. Frstill, we never stoppedss wmaking it stronger. E. Faster. Smarter. Because to be the best, is to never ever stop making it better. The 2020 cclass family. Lease the c 300 sedan for just 429 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Thats it. Im calling kohler about their walkin bath. [ sigh ] not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease . Preventable. And 149 dollars is all it takes to get screened and help take control of your health. Were life line screening. And if youre over 50. Call this number, to schedule an appointment. For five painless screenings that go beyond regular checkups. We use Ultrasound Technology to literally look inside your arteries. For plaque which builds up as you age and increases your risk for stroke and cardiovascular disease. And by getting them through this package, youre saving over 50 . So call today and consider these numbers for just 149 youll receive five screenings that could reveal what your body isnt telling you. Im gonna tell you that was the best 150 i ever spent in my life. Life line screening. The power of prevention. Call now to learn more. Made it one of the hottest homes in Beverly Hills hitting the market for 12. 2. Its promising a Healthy Future. Robert gray is light in Beverly Hills with the inside book. Good morning to you, robert. Reporter good morning, maria. While this trend is big in society especially in the Luxury Real Estate market. Marketing to millennials and more but this home, 6300 square feet, as you said, its now in escrow around 12 million, six bedrooms but what makes a wellness house . We have video of that. Its a streaming fitness classic to make you the biggest of them all but Yoga Instructor who makes house calls and a juice all it just will drop off coldpressed custom juices. Im joined by rachelle the Luxury Real Estate expert thank you for joining us here with the wellness amenities how much more popular what a tall man dollars will be compared to a molar property that comes without th them. We had probably 25 more people that wanted this from the minute we open the doors. Reporter some skeptics might say its a fad but you see this trend continuing beyond the coast and expanding. Absolutely. Everyone loves this features, virtual trainer, Yoga Instructor, what more could you want . Reporter who would be the buyer . We seen millennials, athletes and hedge funds individuals coming from the east coast and. Dot commerce. Reporter maria, will have to drink some juice and hit the mirror for a little workout but now back to you in the studio speaking its great. Seems like a great selling point. I dont know if its enough for a 12. 2 home but thank you, robert gray is in los angeles but still had, final thoughts in the allstar panel, back in a minute. Oh, wow. You two are going to have such a great trip. Yeah, have fun thanks to you, we will. Aw, stop. This is why voya helps reach todays goals. All while helping you to and through retirement. Um, you guys are just going for a week, right . Yeah thats right. Can you help with these . Oh. Um, were more of the plan, invest and protect kind of help. Sorry, little paws, so. But have fun send a postcard voya. Helping you to and through retirement. Maria welcome back. I know thoughts from this allstar panel. All eyes will be on the fed. The question is the attack in saudi arabia might did that become a catalyst for that around the world because the fed will look for growth. Instability is a thing that will scare them out of business. Maria they wont change one day before the meeting, what they . I think what im interested with Abraham Ryder turned 90 this year, lifelong follower of the market from the earliest memories sitting on his lap reading the wall street journal on the kitchen counter to how beautiful. Happy birthday to him. I love it. Democratic candidates will have to rethink their ideas about banning fracking in this country given this attack in saudi arabia. This is our strength, oil. Maria varney co. Begins now. David asman is in for stuart today. Take it away. Thank you and good morning. Big news to begin the work week with. We start with oil. Price surging following that attack on the Saudi Oil Field President Trump says the u. S. Is quote, locked and loaded and ready to respond. Is also ready to tap into the Strategic Oil reserve if necessary stock futures are down in response to the oil surge with a lot of angles to the story and news continues to break out and we have it all covered right for you