Transcripts For FBC Mornings With Maria Bartiromo 20240713

Dagen joining the conversation dierdre bolton, former economic adviser to president obama, robert wolf is here. And president ial candidate steve forbes. Great to be here. Maria optimism pushing futures higher, markets up 152 point, s p up 14 and nasdaq up 44, unchartered territory as china and the United States agree to roll back tariffs as part of phase 1 trade deal, two sides to eyeing the december signing with various venues being discussed including london, perhaps President Trump and xx jinping could meet there after next months nato summit. Interesting development, the fato summit, apec summit we expected the signage which was november 17th. We also have British Election at the time, who is going to be the Prime Minister presiding at this wonderful signing, but this gets to something that weve known for a year and a half, maria, that is get the trade worries out of the way, get the trade scrimmages knocked down, you will see the market react and you will see the economy react in a positive way when people know what the rules of the road are. Maria spokesperson for the Chinese Ministry of commerce says in the past 2 weeks lead negotiators have had serious and constructive discussions on resolving issues of core concern, both sides agree to remove the additional tariffs imposed in phases as progress is made on the agreement, robert, do you think this is enough to get a signage going . I think any time we are moving towards a deal is a good thing, we have been up and down as steve said for a year and a half, theres been incredible market volatility, every time we get good news the market goes up, i totally agree with steve, i mean, we have seen contraction in Business Investment for the last 2 quarters, we can deal with good news or bad news of businesses but we cant do with uncertainty, we dont know how to budget for the next year, we dont know where to spend capital and resources and i think that we have seen incredible choppiness and its time, you know, gdp has been slowing and, you know, we are expected 3 to 4 , we are now expecting 1 and a half to 2 , this would be a real pop for 2020. Maria im just wonderings if this is the accurate story, we keep getting headlines similar to this, markets react to it and then we are following the bouncing ball of expectations of china, if they remove tariffs, should we assume that china is agreeing to enforcement mechanism that they wont steal intellectual property. No, i mean, we were talking about the language that was different, we were saying, deal and phase 1 of a deal and their press were interpreting the same word, i had a friend with me who is translator, they are calling it a pause, a pause in trade war, that enforcement mechanism, that is one of these points that has been the most difficult to get over, but what i think from what hearing this morning is tone, sentiment wise is great, as far as what it means going forward, i think theyre following what Henry Kissinger said about negotiations, start with the things you can get done, save the tough stuff for later, try to get the momentum going, the easiest making agreement on soybeans and others, throw in some natural gas, in terms of intellectual property, i think its going to be the kind of thing where enforcement is going to be our taking individual actions, i dont think youre going to get a grand agreement on it but you dont need one to get a deal going. Im not overly optimistic on what the end result is but every time we make positive movement is a good thing, to steves point, weve had two two bailouts in the farm sector, larger than larger bailout that in 09 that we argued about back then, 28 billion of farm bail bailouts, this new phase gets them buying like steve said and dierdre said, it gets them back to the table, going back to them buying also goes thank what they offered 2 years ago before it all started, even the amount of aga products that china said they would buy pretty much the same thing 2 years ago that we said no to. Sentiment 70 billiondollar agreement to buy stuff. The white house said no and now he now that looks like thats where we are going. Maria nothing is different than what was on the table. We are not going backwards. The other thing to watch out european tariffs, are we going to put tariffs on european auto and auto import, auto parts import that would be devastating, we take that off the table that would be a boost. Its a little bit but says itll grow 3. 1 , not a huge difference, it is because of global trade tensions, difficult for businesses to make decisions, what you were saying, they are just stuck. Europe unable to generate much growth, goes beyond any trade deal because its about structural issues in europe, we will see, if the certainty of no tariffs on european autos, that certainly would drive markets and perhaps drive an economy, we dont have that certainty, though, at this point. Lets get onto this, Elizabeth Warren versus bill gates, billionaire sounding off on president ial candidate to use on wealth, asked he would like to meet with Elizabeth Warren, hes not sure, quote, how openminded she is or if shed be willing to sit down with somebody who has large amounts of money, warren responded in a tweet saying, this im always happy to meet with people, add bill gates, if we get a chance id like to explain how much youd pay on well tax, its not 100 million. Ly start to do the math and sort of said, okay, just kidding, but hes paid almost more taxes than any other person, right, if we think about it, she is really going hard, listen, im not representing bill gates but he does have foundation and giving away tons of money, by all extent a very responsible billionaire. Maria he would have given more money away in terms of creating a legacy and that would be his legacy as opposed to creating microsoft which, of course, is huge enough. I was at the event yesterday and as you know ive given to about 10 Democratic Candidates of 2020, ive not given to an Elizabeth Warren and im not supportive of the wealth tax, any time shes in an argument with a billionaire or wall street guy, it benefits her, this type of news benefits her. Most people in the country dont real what bill gates has done for our country, they see him as a billionaire and anybody who is a billionaire is a boogieman, with respect to Elizabeth Warren, this plays well, whether we spoke about steves piece, whatever it may be, these types of things place to the base, primary season which we all have said whether you like Elizabeth Warren or not, if youre not in harmony, theres nothing to talk about, this is all about her primary season. Maria this is confiscation. Im not for it. Maria businesses are looking at this and wondering how you can even value stuff. Lets say you have art, lets say you have collectibles, how it is, how do you value that to come up with 50 wealth tax. This is about tyranny, the irs, new agents have the right to go in your home, find out what you have to make sure you dont have a hidden painting or Something Like that, its very 1984 authoritarian and thats what they should attack her on, she wants to get her into your home, keep her out. The truth this is about her way to argue about income inequality, we have incredible income inequality. This is not the way to handle it. Shes doing it in a way where she will hurt the left, now that shes putting on the table, unlike bernie who had mythical stuff, we will be happy land forever, shes put numbers on it in a way people are going to say, oh, my gosh, this is not good. Maria thats why businesses are shaking in their boots. If its Elizabeth Warren, i would have to vote from donald trump. 20 to 30 seats they help today capture, with her at the top of ticket going after value of 4011k, watch out. Theres no way an independent will vote for her, period. We spoke about this a bunch of times, 40 of Financial Services are not moving, 40 of republicans are not moving, 20 independents move one way, in 08 it was obama, 12 it was obama and 16 is clinton. You will see shift back to trump. Maria cochairman as well bill is here on wework and the state of real estate, talk about his new development in brook lip, michigan congressman Debbie Dingell on the china trade story as well as usmca. Peter joining us on impeachment inquiry, former speaker of the house Newt Gringrich on china trade and impeachment stories, dont miss a moment. Big 3 hours coming up. Slip in a short break, spy gate, two former employees accused of spying critical on saudi government, details next. Policy online, google changing up political ad policy taking cue from others, ask maria, be sure to send me questions on instagram and twitter, i will be answering them tomorrow and every friday in our new segment, dont forget about that, back in a minute. I get it all the time. 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. Liberty mutual customizes your Car Insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Cologuard colon cancer and older at average risk. Ive heard a lot of excuses to avoid screening for colon cancer. Im not worried. It doesnt run in my family. I can do it next year. No rush. Cologuard is the noninvasive option that finds 92 of colon cancers. You just get the kit in the mail, go to the bathroom, collect your sample, then ship it to the lab. Theres no excuse for waiting. Get screened. Ask your doctor if cologuard is right for you. Covered by medicare and most major insurers. Is where people first gathered to form the stock exchangeee, which brought people together 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. Maria welcome back, now the u. S. Is charging former twitter employees with spying for saudi arabia, Lauren Simonetti with the details now in headlines, lauren. Lauren good morning, maria, federal prosecutors charging two former employees spying on users critical to riyadh, paying twitter employees in various ways including cash and watches, twitter shares under pressure this morning down 2 , take a look at this, roku trading sharply lower the premarket even after latest Quarterly Results did top expectation, the stock down 13 and a half percent, here is why, rokus net loss more than doubled as companies sent more money to increase the number of the subscribers, so the year looks much better, roku shares are actually up more than 300 , thats parent of our company, fox business reporting better than expected earnings thanks to higher fees coming from affiliates, revenue rising 5 from a year ago, fox announcing buybacks. Google is considering changing political ad policy, wall street journal reports google has been holding internal meetings of potential changes, twitter would stop accepting political ads later this month, they are trying to figure out as we push closer to 20, how the tech giants deal with the influx of advertisement. Maria twitter has pushed back saying we will not take any of those ads. Makes sense what google is looking at after we chatted last week, after Mark Zuckerberg couldnt answer almost anything on political ads, seemed clear to me that facebook is becoming more the outlier, theres a higher probability that they become more possibility of being regulated and i think google and twitter are saying, you know what, probably not worth it. During facebooks earnings it was twitter that came out, by the way we are actually not going to do political money, not Political Campaign and facebook cant control it if i may say. Facebook doesnt move needle for earnings. Maria we will take a short break, broader averages up big this morning, china and the United States apparently agree to go roll back tariffs, now they are talking about early december for signage of the phase 1 deal, coming up, tesla goes cyber, elon musk teasing the new electric pickup truck, the release date has significants for movie fans as well. We will be right back. The game doesnt end after that insane buzzer beater. Because with Nba League Pass on xfinity you can watch the out of market games you want all season long. And with the allnew xfinity sports zone, you get everything nba all in one place even notifications about your favorite teams. Watch the dropped dimes, monster blocks, and showstopping dunks. Plus get instant access to your teams with the power of your voice. Thats simple, easy, awesome. Say Nba League Pass into your voice remote to upgrade for a great low price or go online today. Maria welcome back we are in unchartered territory, we are looking at a rally, futures indicating a gain right out of the gate on the dow industrials, nasdaq up 40 points, we are watching the trade story with china closely this morning, the u. S. And china apparently have agreed to roll back tariffs as part of phase 1 trade deal, this is coming from China Foreign ministry, the two sides set to be eyeing december on signing phase 1 deal. Where are you seeing the flows in terms of moving into stocks . Well, obviously investors arent really that affected by the trade wars because markets hit new highs but the market weve had over the last 10 years, big shift on, recently we have seen more money going into value than growth and actually more money going into International Stocks when you check fun flows and etfs versus domestic, sounds right, investors are looking for value, and when you look at value, a lot of stocks have been beaten up, theres a lot of opportunities there. Well, youre seeing, europe, for example, brexit is the clued hanging over everyones head, investors have to continue and invest, companies are doing a great job from a profitability standpoint and compare today higher prices in the u. S. , they are much cheaper. What about small cap stocks . Absolutely, steve they have underperformed and we are starting to see nibbling going on, i think thats probably going to pick up, as you know things always revert back to means and small stocks tend to outperform large stocks but that hasnt been the case in in the t 10 years. Lets say tariffs aside, we keep reaching new highs, talk about the fed, theyve been accommodating this year after making some mistakes last year so weve had, you know, weve had 3 moves so far, now we have a neutral stance, what do you think happens with the people coming in, new money into the market . Well, they havent got hurt by going into equities, youre not paying to go into bonds right now because yield are horrendous, really, when you look at it, if people are shopping around, getting back to the original point, if youre looking for value, value stocks in the u. S. Are really attractive because the disparity between Growth Stocks and value stocks, its been the worse than we have seen in 30 years, that gap will close and when you look at opportunities overseas, most investors have had this huge home country bias in their portfolios are so much correlated to s p 500 as we know from diversification standpoint, thats not always going to hold, emerging markets, for example, theres a lot of opportunity on sale. Maria what has been the impact of zero commission . Thats great, maria. Makes it easier when you look at brokerage platform, i just got back from San Francisco, im sorry, san diego yesterday, the international conference, it was great because advisers can invest their clients money for zero trade, zero commissions, stocks etfs, when clients see little trade commissions in their portfolio, that doesnt make them feel good, now its down to not only low cost etfs that are a fraction but also not trading, it gives them that added confidence. Dont they usually end up doing better despite the roller cost e aspect of it . They do, steve, absolutely, its one of those things where a lot of folks, smart people on wall street have been betting on emerging marketing but its been tough to beat, s p 500, thats the thing, eventually that will come around, one example is you look at greece and its not really an emerging market but should be considered an emerging market, its up 45 year to date. Maria coming from such a low level some people have lost their shirts, i remember vietnam was hot trade and so many people got blown out, where specifically you like for emfs . Theyll be great opportunities with shares in china, india has been really, really strong and great opportunities. Maria they just cut taxers there in india. I want to take you back to the u. S. , weve had a very strong earning season, although, i dont want to say really strong, today we are waiting on disney expected to report after the bell tonight, your reaction to earning season so far . Well, 70 have outperformed expectations and i think thats been consistent, i think we are very comfortable with companies these days, they are being more honest than ever, less surprises, more confidence for investors. All right, we will leave it there, tom, we will thanks for your insight. Vow to go spend even more money on programming this year, talking about 15 billion in original content; teslas tease, elon musk releasing when the anticipated pickup truck is coming and why it holds significance for movie fans as well, all that coming up right after this. Does your broker offer more than just free trades . Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. the enchanted disney fine jewelry collection. With exclusive bridal styles at zales, the diamond store. With exclusive bridal styles at zales, my body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on maria map welcome back, good thursday morning, thank you so much for joining us, im Maria Bartiromo, thursday november 7th, top stories right now 6 30 a. M. On the east coast, the u. S. China trade story driving markets this morning, china saying that both sides have agreed to roll back tariffs if a deal on phase 1 is reached, they are expecting to sign a deal early december now, the news pushing futures up this morning into new unchartered territory, take a look, all 3 major indices are up, dow industrials up 147 points, s p up 13 and nasdaq 41, in fact, yesterday was recordsetter for all the major indices and you see the dow industrials pulling back just by a fraction at the close, s p was up 2 points further into record territory, nasdaq pulled back 22 points after reaching new highs throughout the day. European indices this morning look like this and as you will see here the markets are taking cue from wall street, ftse 100 up 10 points, cac quarante up 10 points and dax index about 93. Economists are expecting no change in rate so we are looking for any commentary in terms of what the stimulus might look like in the future, ftse 100 as i mentioned up 11 points. In asia overnight, fractional moves across the board, chinas market shanghai exactly where it closed before, unchanged. Streaming wars are intensifying, get this, netflix spending billions of dollars on programming this year and expecting to continue next year, ceo says it will go higher than last year in terms of spending, this is disneys new Service Debuts in just a few days and tesla going big, the Company Ready to unveil electric pickup truck, the details coming up, the stock is up 1 and a half percent, all the stories coming up thursday morning, first top story this half an hour, impeachment push goes on, public hearing set to begin next week, republicans are fight to go unmask the whistleblower, now we are learning learning the whists attorney was calling for impeachment as far back as 2017. Democrats must be accountable for their hoaxes and for their crimes, now corrupt politicians, nancy pelosi and adam schiff and the Crooked Media have launched the deranged, destructive, hyperpartisan impeachment witch hunt, now we go again. A lot of things have happened because, i dont know if you just saw i got off coming off the plane and look at this character, okay, they just hand me this story, whistleblowers attorney said in 2017, you know when that was, that was a long time ago, its all a hoax. [laughter] they say january 2017 a coup has started and the impeachment will follow ultimately, its all hoax. Maria that was the president last night talking about the latest news, joining us to talk about federalist commentary writer emily, good to have you, we get this word that the attorney for the whistleblower wanted to impeachment and was hoping that this coup was underway as far back as 2017, what do you make of this . I mean, this is a really big story and its one of the things that the administration and the president s allies have been trying to showtime and again that all of the people that the media is purporting as objective Civil Servants tend to have motivations if you lock back a couple of years or even if you look back recently that are antitrump and so when you find a story like this, the lawyer of the whistleblower who the media wont unmask was using the word coup, back in 2017, 2 years ago, this is really big and im sure the people of the administration, the president s allies see this as major line of way to defend themselves. Maria there was an attempted of coup with the people in the fbi and cia who tried to entrap many people in the campaign back in 2016 actually. Im sorry . That was the last by the media, turns out thats exactly what happened. Exactly, where do you think this goes, we will get public hearings next week, will the American People understand whats happening behind the closed doors and have a better sense of how much credibility this impeachment inquiry really has . Yeah, so its going to be interesting, surprising amount of excitement about the public part of the process from republicans and probably more than democrats initially even expected to come, mark meadows jumped into the live shot in mnsnbc and rearing and ready to go in defense of the president , so i actually think republicans are ready for the process move into the public, i think both republicans and democrats haved that their turns feeling out the witnesses and seeing in which directions their are going to go, and have had a chance to figure out the strategy and see where its going ahead, excitement on both side but ping im familiarly surprised to see how eager the republicans are to bring the process into the view. Maria whats been leaked is selective, Vice President mike pence continues to say theres no quid pro quo, he spoke with trish regan last night, listen to this. President zelensky had an extraordinary victory in his campaign because he ran on an anticorruption theme. President trump made it clear from early on that we wanted to support him in that effort, we wanted to see him make progress in that effort and we we wanted to see the European Community come forward. Did joe biden come up, did hunter biden come up in the conversation . No, he did not at all. Maria what about that, emily, we have more news from john solomon this week . The worst of this for democrats because the American People dont want to hear it. Im been theres been liberal publications, this is a problem for democrats, a problem for joe biden, so the more that thats the center piece of the conversation, the worse off it is for democrats, there may have been, democrats maybe able to show there was an effort to perhaps put together some sort of quid pro quo but whether that actually materialized is going to be very, very difficult for them, theres an exchange with congressman ratcliffe and taylor who democrats think is star witness who says ukraine didnt know about the aid being held up, stop on aid as of july 25th phone call. The quid pro quo in and of itself will be difficult case to make based on the evidence that they have produced so far. Maria steve forbes. That seems to be the only thing going for him, the rest is just confusion and theyre going to come up, they have tried to come up with selective leaks and would like to say, yes, there was a quid pro quo, do you think they will win the public debate, the tweet war debate, twitter, kind of war debate where quid pro quo will be the only thing to have that wevetheyve invited ukraine to interfere in the u. S. Election . Yeah, i think when you have a term like quid pro quo and youre trying to make the case to the american public, you need something really, really obvious that you can point to to convince them and they its not enough for ambassador to say, oi thought this, i thought that, you have to have the president saying, you aint going get the money unless you do this thing to destroy joe biden, they dont have that. Well, theyve moved the goal post because they thought they had it with the transcript. So, no, i dont think they have enough. Maria ly ask you about the wealth tax debate in a second, first ig report, when are you expecting it and what do you think we will get when they report fisa abuse . I dont think its going to look good, i certainly dont think its going to look good for democrats, i think its going to be vindicating in terms of timeline its so tough today but i dont think this would be maria they keep pushing it out. Billionaire microsoft cofounder bill gates sounding on 2020 hopeful Elizabeth Warrens views on taxing the rich after jamie dimon called out warren for vilifying successful people, congressman alexandria ocasiocortez backing warrens fight tweeting this, yall billionaires are asking for a safe space, you know, in addition to the entire u. S. Economy and political lobbying industry, emily, your reaction to this, its funny its so funny, jamie dimon and aoc have a back and forth for a few months. [laughter] they dont seem to like each other very much, this sort billionaires that came out against Elizabeth Warren, shes misrepresented in a couple of cases which i know is very shocking, but its hard to almost counterproductive, ad for Elizabeth Warren when billionaires come out against you. Im going to guess itll show up in ads if shes the nominees. Maria thats what robert wolf said it ends up helping her when a billionaire pushes back, robert, theres a reason why most moderates do not want Elizabeth Warren as the nominee. No, thats accurate, but the whole key is who wins the primary and this plays absolutely to her base, 40 of the Democratic Party is in the populist left wing, 40 of the moderate lane, everybody is fight forking the middle; this helps Elizabeth Warren, free ad, thats about the best ad you could get for her. Maria wow, youre right. She is the nominee against donald trump who wins . If shes the nominee wow. [laughter] maria al imy what do you think . I think that donald trump will be reelected if shes the nominee. I just dont think a lot of the stuff works in the state to win the Electoral College and you can see in early polling matchups right now. Maria we have to this country can go. I would say a year is a lifetime so im not going to predict. Maria thank you so much, coming up tradeboosting markets, china and u. S. Agree to roll back tariffs, driving markets this morning, dow industrials up 150 points, that will be record high when the market opens, plus the fallout of wework, we are back right after the short break. vo the flock blindly falls into formation. Flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. 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. Each day our planet awakens but with opportunity comes risk. And to manage this risk, the world turns to cme group. We help farmers lock in future prices, banks manage Interest Rate changes and airlines hedge fuel costs. All so they can manage their risks and move forward. Its simply a matter of following the signs. They all lead here. Cme group how the world advances. Maria welcome back, Kentucky Governor matt bevin raising concerns over tuesdays election. Lauren governor matt bevin raising concerns of voter fraud, refusing to concede Democrat Andy bashear after count had him up 5,000 votes. We will keep you posted. Netflix ceo denying rumors that fleet knicks is planning to cut back on massive spending on original content, it now spends around 15 billion a year, that figure is likely to go even higher. Well, shares of netflix are going higher, they are up about 8 this year, of course, streaming is out on tuesday. Tesla to unveil pickup truck, pretty cool, the ceo elon musk tweeting that the vehicle which he calls cyber truck will be revealed november 21st, compares to something another blade runner the movie calling design heart shaped with performance that beat porsche. Maria very creative description there. Lauren it was, thats elon musk for you. Maria keeping the struggling company afloat, latest development where wework was supposed to take a big part, portion of the space, why more americans wait until dark to do Online Shopping, wait until you hear this, stay with us. [ sigh ] not gonna happen. Thats it. Im calling kohler about their walkin bath. 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. Call. For a free kohler® nightlight toilet seat with inhome quote or visit kohlerwalkinbath. Com for more info. And my side super soft . With the sleep number 360 smart bed you can both adjust your comfort with your sleep number setting. So, can it help us fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. Will it help me keep up with him . Yup. So, you can really promise better sleep . Not promise. Prove. And now, during our Veterans Day Weekend special, save 1,000 on the new sleep number 360 special Edition Smart bed, now only 1,799. Plus, 0 interest for 36months. Ends monday. Maria welcome back, softbank reporting 4. 7 billion loss from the investment in wework, the shared office space startup still retain space across the country, 200 square feet at dock 72 building at navy yard in new york city, the owner of dock 72, investor in wework, cochairman bill ruden, thank you so much for being here. Well, how interesting that wework has all that space in your relatively new Development Dock 72, are they going to keep their commitment and still stay there . We believe they are, but to clarify, recent development is partner with boston properties, we work with wework, project started in 2017, so we just opened it up a few weeks ago and, yes, we work as moving members in as we speak, we are about to complete all of the amenities that weve included in this building, a health center, a conference center, a food hall run by danny meyers, all the things that Companies Want to have as they are looking to move their spaces and to attract talent, its all about talent war going on and you have to have these type of amenities and this building really is the building of the future and it was a collaborative effort, bill brad, former Police Commission wrote a book collaborative or perish and this is really about innovation and the building is really a hot bed for collaboration and innovation and we are very excited. Maria its a beautiful space, you talk about the amenities, i love hearing that because youve putin put innovation into the space. How big is it . 200 feet and in discussion with several companies. Maria what do you think went on with wework, bill, the valuation got so high that people thought it was something different, is it all different than coworking flex space is here to stay, theres been a lot of discussion whats going on with wework, is the market going to drop back. They have about 7 million feet in total coworking or flex space, 3 so, the world isnt coming to an end and i think with the new Management Team and softbanks commitment, theyre going to get the Company Moving back into their core, focus on their core business which is wework and most of their locations are profitable and relatively full and what happened they got off their game to some degree and started focusing on other businesses and maybe growing a little too fast, i think theyll still be some growth but thats going to slow down and be more manageable and maria yeah. And softbank commitment is a very strong message to the market that theyre not going away. Maria let me ask you about the Broader Market here, obviously you have a great vantage point, 16 office towers, 10 million square feet of class a space, 18 luxury apartment buildings, worldclass residential development, what do you see in terms of demand right now . We talk a lot about the potential of slowdown and the economy, we are already seeing that, are you seeing cracks in that in real estate commercial . I think the announcement that we have all been talking about today about trade deal between the china and the United States is strong psychological and economic boost, i think in new york city we arent that much affected but what is going on but its in the positive. In new york city the commercial city is very, very strong, youre seeing year to date through september 35 million square feet of lease assigned, last year 28 million feet, we will go over 40 million feet this year and with Companies Big and small, youve got all the fang companies, google has 6 million feet, apple is looking in the market and microsoft looking to expand and facebook looking to expand. Maria increasingly technology taking up space . Technology, education, health care, media, so its a broad range and the great thing ant our city which by the way has had the lowest crime in history in new york city, the largest big city with the lowest crime rate, we have a new Police Commissioner coming in. Maria are you worried, though, that that changes, bill, we have been talking about this a lot, you have 900 inmates being released, plan to close rockers island, 3 quarters of inmates will be released in the community and you look at other cities and whats going on in los angeles in terms of homelessness, San Francisco, chicago 8 shootings a day, do you worry that crime will pick up in new york . Of course, we worry about it but we have the greatest Police Department in the world. Maria Police Commissioner stepped down because of this issue, thats why james oneil stepped down. Im not sure that thats true. 3 years of being chief and i joe jim personally maria you feel good about it . Theyve put into place a lot of systems that, i think, will hopefully continue to reduce crime and, you know maria whats your take on the Real Estate Market for for individuals . You have tax squashed last spring, reconsidered by the new York State Senate . January, this would be levy on annual tax on second homes worth 5 million or more, that threatens new yorks luxury market, any anticipation in terms of that . First of all, i wouldnt define as being squashed, what we did in our industry realizing there was a need for revenue to get funded into the mta, the Transportation System which is really the life blood of our city and the Real Estate Industry stepped up work with the governor, with the legislature to come up with alternate plan because we believe tax would be detrimental to our economy, the velocity of deals would drop, tax revenues would drop maria right. Jobs would drop. So we stepped up and we did what we needed to do, we increased mansion tax, we increased transfer tax, all having, you know, negative impact on the market, but in terms of tax, we will show to the legislature maria that this will be bad for the bad. With data done by professionals that it is not a good tax. Maria bill, real quick, you did deal with the industry . Real estate board and construction unions to work collaboratively on Economic Development issues and work to try to structure pricing and work rules that will increase union jobs if the economics makes sense. Maria nice partnership, bill, great to see you dramatic orchestra performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. An official message from medicare. Hey fred its medicare open enrollment. Time to compare plans. Were fine with what we have. Thats what the johnsons thought until they tried medicares new plan finder. The johnsons . We saved a lot on our prescription costs and got extra benefits. How bout it, fred. Plans change every year. Use the new plan finder at medicare. Gov. Comparing plans really pays. Look how much we can save. Maria welcome back. Good thus morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is thursday, november 7th. Your top stories right now. U. S. China trade is driving markets this morning and we are in record territory. China says both sides have agreed to roll back tariffs if a deal on phase one is reached. They are expecting to sign a deal in early december. The news is pushing markets to alltime highs this morning. Take a look at the dows industrials, up 135, s p up 11 nasdaq up 35. Yesterday all three major indices ended the day just high of record highs. It was fractional moves at the end of the day. European indices taking a cue from wall street. They are higher. European indices this morning, the fq100 this was yesterdays close. Fractionally moving. The fq100 is up 15, cac in paris is up 9, dax in germany higher by 90 points. The bank of england held Interest Rates where they are, we are getting the breaking news right now. The boe leaving rates unchanged. We were not expecting a move on Interest Rates out of england this morning. We want to hear commentary from the central bank in materials of where the stimulus might happen going forward. Well keep on that and get you any news that develops. In asia overnight, fractional moves. Asian markets it was pretty much close to the start of the day. The you uaw scandal, the unions former Vice President has been charged with fraud and money laundering. He is accused of taking kickbacks and bribes. We are taking a look at who could be next and where this stands with the uaw. Plus, staying up late can cost you. Why nighttime seems to be the right time for shopping. All those stores rise comin s coming this morning. Joining me to break it down, deirdre bolton, former Economic Advisor to president obama, robert wolf and steve forbes. Great to see you guys. Great to be with you again. Great first hour. A lot going on. Maria a lot going on. I thought bill ruden was real bullish on the economy. I was sure priced. I liked hearing it. But much more bullish than what the perception is. Maria certainly it feels bullish this morning because of the news that china and the u. S. Have made an agreement that they will eliminate the tariffs, should we see a signed deal for phase one of this deal. Thats making you happy as well. Makes me very happy. By the way, new york city, would be good to get rid of some of the tariffs and taxes on real estate and i think mr. Ruden could run and become mayor. Maria yeah, youre right. I thought what was fascinating, we talk about it feels like the brick and mortar and commercial real estate is getting hurt because of the Online Shopping and everything being more digitalized. But he talked about those companies coming here, microsoft and apple and facebook. Maria he mentioned a lot of tech. A workforce, ready to go. Picking up the slack. On the china deal we hope this is not another chapter of nancy taking the football away from charlie brown. He remember that cartoon. He was going to kick the football and it gets yanked away. Maria this is what Chinese State media is saying, china is saying they will eliminate the tariffs. Its moving markets this morning. We really want to hear from the u. S. In terms of where we are. We keep following the bouncing ball. Its a road map to deescalation, in the best of therms, at least theres that. Maria there is progress this hour. Washington and beijing agreeing to roll back tariffs, and that is fueling markets. Sources telling fox if a phase one deal is signed its likely the looming december tariffs would not take effect. Futures pointing to a rally, up 131 points on the dow industrials, following reports of a meeting between President Trump and chinese president xijinping that that could be delayed until december, that postponing the signing of the phase one trade deal. President trump said yesterday america will not be taken advantage of anymore. Under this administration, the great h betrayal is over. America is no longer for sale. [ cheering and applause ] thanks to my tariffs, were taking in billions and billions of dollars from a country that never gave us ten cents, china. Can you imagine if we ever let the radical democrats take over negotiations with china, wouldnt be too good. Maria joining us right now you to talk more about that is michigan congresswoman, house energy and Commerce Committee member Debbie Dingell. Always a pleasure to see you. Great to see ayo you and the 2013ed panel. Maria were trying to understand where this goes, congresswoman. The state media in china is basically saying, look, no tariffs, thats the only way were at the table. So to me this looks like china is winning here. We take away tariffs, they buy more Agricultural Products but no word on whether or not theyre going to commit to no more theft of intellectual property. How do you see it . So i like you know exactly what weve been told so far. Ill going to be on the phone at 9 00 this morning, trying to get more information on this deal. Look, i from the beginning have agreed with the president that weve got to get tough on china. The fact of the matter is, they steal our intellectual property, they subsidize their goods and manipulate their currency and we pay a price. I know that there are Many Companies in the country that the lack of certainty or the lack of knowing whats going to happen is causing problems. But we need to see whats in this deal. We need to i liked that analogy this morning to lucy pulling out the football. What we need is certainity in trade and we need to do something about china and ive said that as you know from the moment he started talking about it. Before the election. Do you think in terms of the tariffs, the Auto Industry is against tariffs coming on, the he proposed tariffs on auto imports and auto parts imports from europe and elsewhere. Have you heard anything on the progress on the european negotiations, whats going to happen, how its going to affect the Auto Industry and especially in michigan . Well, yo i know the Supplier Community is worried. Ive been talking to all the autos who have had their minds on other things and are worried about whats going to happen. All of these deals as they get negotiated its never quite clear whats happening, what the certainity is going to be. I do know the industry is very worried about whats going to happen. Now weve got the chrysler merger, so i think what i hear from them i talked to them about trade every day, is more the uncertainty, not clear whats going to happen. We all know corporations need certainty. But there have been issues that have impacted these autos. So theyre working through. And i think their minds have been more on negotiations this last month than it has been working with the administration on trade. Congresswoman, great to see you. Its rob he earth wolf. I havent seen robert wolf. I havent seen you since the tour. Id like to talk about usmca. And about a month ago preall the impeachment inquiry, it felt like there was going to be a deal done before yearend and that there was few obstacles on both sides, maybe three or four different object s take kells on the republican and obstacles and the republican and democratic side. It seemed like something could happen. Whats your view on usmca at this point and where were going with it at all. We are moving, im going to say that to you. Both sides are continuing to work. I made a bet with maria that this deal would get done and i went right back and told nancy we had and she said were working very hard. I have to give nancy credit. There are people that say why are we giving anybody a political win. Its not a political win. Its about the working men and women who just got off the picket line. We had a Conference Call with the caucus this week. We had a positive report from many members of the task force that are working on it. I think some people think the deal can be done by the end of the year. Others are a little more cautious. I dont think you just get the deal done to get the deal done. Enforcement is one of the most critical issues. Maria thats what i was saying as well. What a are the two or three issues that are the biggest obstacles on both sides . Well, obviously the Prescription Drug provision is of concern to a lot of members in the caucus. The issue that i think is the single largest is the enforcement, how do you make this have real teeth so that you can enforce it. For me, thats it. But i know we need a new deal. I mean, nafta, i call nafta 1. 0, nafta 2. 0, i want people to know what were really talking about. You ship millions of jobs overseas. We need a new bill. I do believe were going to get this done. It may not be by the end of the year but i believe we will get it done early next year. Maria let me ask about the specifics in terms of the Things Holding this up because you just mentioned the biologics issue. People who invest in Healthcare Companies and invest in r d want to know that, yes, theyre going to put their money at risk but they want to at least know theyre going to get a return from it. If youre going to lessen the amount of time that companies can have patents on their drugs, wont that impact innovation and money going into this sector . Is that what the issue is, that you want fewer years that a company, a biologic or Healthcare Company can have a papatent on their drug, so generics come in and prices come down. Im spending a lot of time on this but not on nafta 2. 0 because im more focused on autos and enforcement part which is more critical to my area. On the pharmaceutical drugs, i study the patent issue all the time. We have problems with Drug Companies will change one thing and suddenly theyre cutting deals with generics not to put the generic on. Weve got to figure out a way to lower the cost of Prescription Drugs. Maria i understand that. My understanding from the experts is this is going to increase prices and extend it longer. We have to work with the companies so they get the return. Im really r worried that were getting behind in innovation and technology, period. I dont think enough people like all of us understand how important it is for us to stay at the forefront. Maria people who put money to work in terms of backing some of these drugs in discovery are saying, look, i want to make sure i have the patent in place for 10 years but i know thats one of the issues. The other issue youve talked about is the wages for American Workers versus the wages in mexico. Are you happy with the tweaks that have occurred so far, knowing now that the American Worker has a guarantee of 16 an hour . It is going in the right direction decidedly and by the way, you need to remember, when that goes up, so does the price or the wages that a mexican worker is making. I havent gotten the most recent details. There was another task force meeting. But i think everybody understands that. And weve had good contract negotiations here. Weve got one left. But ford is very happy with theirs. Maria you know whats taken the oxygen out of the room, right, the impeachment situation. Are you happy with it going public hearings next week . Do you think its been behind closed doors in secret, do you think the American People understand whats been said at these hearings . So i am someone who thinks that it is very important this process be trans parch. I dont know whats transparent. I dont know whats going on behind closed doors because im not a member of that committee. I prov probably gave five speecs this past weekend. I think we need to investigate this. No one is above the rule of law and we have to be investigating it, we have to get the facts and follow the facts. Maria should we impeach a president behind closed doors. You said you dont know whats going on in the hearings. The public hearings begin next week. They released transcripts yesterday and monday. People are beginning to get a flavor of it. I do a reality check on i get yelled at by everybody. Theres nobody im not out there far enough for half my district on impeachment. I should be the cheerleader. I believe youve got to give people due process. Youve got to have a fair and transparent hearing. I have people yelling the other way. Im doing a reality check for people and saying 53 of the people in michigan are opposed to this impeachment. 41 support. We have to be open and transparent and the American People have to be brought along. They have to see it. They have to understand it. This was a process the last time. Weve got to understand what the issues are and then decide. But i remind you of watergate. Every republican was against the impeachment until suddenly it turned. I flu bac flew back with senaton who i was working for at the time, i was an intern. He called the president that day and said youve got to resign. Because as the facts became public, they realized they had been lied to. Maria its good to see you this morning. We will be watching all of whats taking place there. Debbie dingell, thank you so much. Uaw turmoil, the unions former Vice President charged with fraud and money laundering, inside that case coming up. Shopping after dark, americans buying big in the middle of the night. How much theyre spending, coming up. Stay with with us. If im without your kisses. Ill be needing stitches. Tripping over myself. Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. the enchanted disney fine jewelry collection. With exclusive bridal styles at zales, the diamond store. With exclusive bridal styles at zales, do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on 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. Maria welcome back. The u. S. And china are teaming up to crack down on a drug ring. Lauren simonetti with details in headlines now. Lauren nine people now behind bars in china on charges of smuggling fentanyl into the United States. Fentanyl is a highly astick testify synthetic opioid, 50 times more potent and hair written. The u. Sheroin. The u. S. Has beeng china to stop the flow of fentanyl. Labor trouble at lufthansa, cancelling flights after Flight Attendant went on strike. The walkouts focused on pay and working conditions. Americans keeping busy on those sleepless nights bishoping online. A quarter of americans are spending 2 billion night shopping. Many say had they dropped up to 500 in one pop. The majority spending at at least 200. The issue is, because i do it all the time, you forget the purchases you make. Its so easy because your credit card information is stored. Or youre so sleepy. Lauren or that. Maria anybody shop at night . No. I just watch sports and not gamble. Lauren youre making me feel guilty now. Maria coming up, investigating the uaw, the government looking at the unions ex Vice President for alleged money laundering, more on that probe coming up. A horse takings mass transit. You heard right. One commuter bringing a support an l mall along for animal along for a right. Back in a minute with that. Aint it funny how life changes. You wake up aint nothing the same. Life changes. You cant stop it, just hop on the train Liberty Mutual customizes your Car Insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. Now to the u after w scandal. The unions former Vice President and General Motors board member has been charged with fraud and money laundering. Joe ashton is accused of taking bribes and kickbacks. Hes the highest ranking official charged today in the justice departments criminal probe. Joining us right now is phoebe wall howard. Thank you for joining us. Walk us through what has taken place so far. This has just been a nightmare for auto workers watching whats unfolding with the government operation here. Joe ashton is the 13th official to be charged, others are implicated. This is a situation involving laundering just every kind of fraud. And pleadings and, you know, people are implicated, then theyre charged, then theyre convicted. Its one after another after another and the most recent of course affiliated with General Motors and before that, fiat chrysler. But the members currently are negotiating wages deals and contracts and this is all happening right in the middle. Maria its unbelievable. The uaw members feel he betrayed. Had they absolutely feel betrayed. This week more than ever, when they find out that their dues have been embezzled, more than half a million dollars. Maria it sounds like its a little bit of a culture. What is it going to take to clean up this corruption . Well, the fear right now in detroit is Government Intervention or possible takeover of the union. And obviously the Union Leadership now is saying, you know, its put a new acting president in charge, rory gamble, who said very publicly, we are committed to to clean you. The union has said it its going to replace its Legal Counsel who has been a Consistent Force and was supposed to identify the problem, failed to identify the problem, and now looks to be replaced. So well see how thats unfolding. But right now, like i said, the membership is watching and committed nationally, its 150,000 auto workers who are saying we absolutely have to change the culture and we need more oversight. Phoebe, how did this happen to unions like the uaw, which the godfather Walter Reuther was a straight arrow, that you find in any line of work, especially in the unions, how did they fall from grace from the figure of, o this grubbiness today. I think thats the question everyone is asking and no one can answer at this moment. People are definite stated devastated because this contradicts the legacy that the. Aw has so proudly, proudly put forth and that in some ways why members say they have faith this can come back again. It needs a clean scrubbing. Currently there are two former president s that have been ill mri kateed. Implicated. People are watching what happens with those two. Frankly, the punishment is being monitored as well. What are the courts going to do . Right now, theres some confidence that those implicated, that is the end. People cant see this going on much longer. This is a years long investigation. Its been very successful for the government and like i said, just devastating for the union. In terms of the agreement, one of the raps against the auto unions even with wall there reuther was that Walter Reuther, it was us versus them, you didnt get the cooperation between line workers and supervisors like you had with japan and other companies. They moved to right to work states. Is that adversarial culture changed over the years, is there a give and take that enabled productivity gains to be made on the line without going through protracted rules changes and negotiations . Part of whats being monitored in detroit and nationally right now is the fact is, the Auto Companies will say they appreciate the union relationship, that they have a 150,000 workers, they like negotiationegotiating with unios to make deals, keep things efficient and keep things running smoothly. In many ways behind the scenes the aa toe companiethe auto comy appreciate the relationships, theyre not antiunion. The automakers themselves say this doesnt help anybody, so in terms of the effect on right to work and the protesting, this is something well be monitoring and it is very real. People dont know the solution at the moment and it is uncertain. Maria any thoughts on gary jones, what happens to him . Gary jones obviously has been implicated. The immediate former president. He just stepped down in the last 96 hours while he is handling this situation. The latest coming out on him, cigars, golf trips, i mean, its almost like a bad movie frankly. Maria he was accused of splitting up 7 p hundred thousanhundred thousand 700,000. Union dues. No just union money, but dues, this is where workers work about two hours of their pay go to dues every month and thats whats so everyone is watching gary jones. Hes only held office one year. This is even more shocking. Maria phoebe, its good to have you. Thanks very much for your insights this morning. Well be watching this story develop for sure. Coming up, impeachment battle, thats heating up as well. The House Intel Committee Holding Public hearings next week. What it means for the probe. Well look ahead. Texas police crash, an officers vehicle hit by another driver. Well have the story. Stay with us. Right now. Come on, its everything. Right now. Sir, youre a broker. What do you charge for online equity trades . Um ah, ill look into it. Lisa jones hey carl, what are you charging me for online equity trades . Laughs umm. And do i get my fees back if im not happy . Like a satisfaction guarantee . Ugh. Schwab oh right, im calling schwab. Thanks carl wait, lisa lisa. Are you Getting Commission free trades and a satisfaction guarantee . If not, talk to schwab. A modern approach to wealth management. 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. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is thursday, november 7th. U. S. China trade driving markets this morning. Chinas ministry of commerce is saying that both sides have agreed to roll back tariffs if a deal on phase one is reached. That has markets higher this morning. Pushing markets into new highs in fact. The indices are probably going to open in unchartered territory with the dow up one half of 1 . Yesterday all three major indices ended the day shy of alltime highs. Fractional moves at the close yesterday. In europe this morning the bank of England Holding rates unchanged as was expected. The u. K. Markets this morning are up 21 points on the fq100, cac in paris is up 6 and tax is up 83. You did see a reversal and gains in the u. K. Market on the heels of the bank of england news. In asia overnight fractional moves there as well. Take a look, as you can see, higher across the board. It was very much a fractional move. There is trouble at google. The Technology Giants board investigating allegations of Sexual Misconduct by current and former executives. Alphabet shares up a third of a percent. Former twitter employees charged with spying for saudi arabia. Theyre accused of accessing information of users who were critical of the saudi royal family. We are looking at that this morning as well. Then this, time to trade up, how you can put a luxury watch on your wrist for less than you might think. We take a look at those this morning. Stay with us on that. All that coming up this morning. First, our top story this half hour, the impeachment fight. Public hearings are set to begin next week. Republicans are fighting to unmask the whistleblower. We are learn the whistleblowers attorney was actually calling for impeachment as far back as 2017. President trump sounded off during his rally in louisiana last night. Watch. Democrats must be accountable for their hoaxes and for their crimes. Now corrupt politicians, nancy pelosi and shifty adam schiff and the Crooked Media have launched the deranged delusional destructive and hyper partisan impeachment witch hunt. Now we go again. Lot of things have happened. Because you know, i dont know if you saw it, im coming off the plane and they hand me look at this character. Okay. They just hand me this story. Coup is started, whistleblowers attorney said in 2017 you know when that was . That was a long time ago. Its all a hoax. They say january 2017, a coup has started and the impeachment will follow. Ultimately. Its all a hoax. Maria meanwhile, former ambassador yovanovitch is set to testify next week. Joining me right now is peter sh severapetershwit snrvmentzer. The testimony oftentimes involves figures that are talking about hearsay. They wan werent on the phone c. We have the transcript or they talk about what they heard from other individuals. I think this needs to be out in the open, thats where the american peel want it. We can see the questions raised by both sides. Maria what about all the talk around the whistleblower . This person p didn didnt havet evidence. This is secondhand notice. Youve got the fact that we understand he worked at the cia for john brennan. Was he among the people dropping bread crumbs that the president colluded . And a now we know that the attorney for the whistleblower wanted the president impeached in 2017. Yeah. I mean, whats the old saying that dirty cops use . You find the man and then you find the law. Maria right and they got their guy. Thats exactly right. They got their guy. I think in this particular case, as the hearings unfold, as we learn more, people are going to realize what a setup this seems to be. This is not a whistleblower at all in any sense of the word. This is not an individual that has direct evidence of any kind of crime being violated. Hes operating on hearsay when we actually have the transcript of what the conversation was. Hes not entitled to anonymity. Theres nothing in the law that allows any whistleblower anonymity. The only thing youre guaranteed is you cant be fired from your job. The notion we cant know who this individual is just laughable. Maria youve done reporting on hunter biden and joe biden as well. Has this impacted joe biden yet in terms of his candidacy. I think it a has. I think it affected his poll numbers and financial support. Maria what do we know . With h know that joe bidens poll numbers dropped when it was reported that his son was going around the world, particularly to two countries h where he was the point person, china and ukraine. He cashed in big time, getting money he wasnt entitled to get. I reject the democrats premise that it was inappropriate for President Trump to ask the ukrainians to investigate joe biden. These things happened while joe biden was Vice President of the United States. My question is, when it is legitimate to investigate senior government officials. Maria its not just ukraine and china. Its growing. Its becoming a united nations. You have kazhakstan and romania. Hunter biden with no international experience, no private equity experience, no energy experience, is going around securing deals from foreign oligarchs or foreign governments that want favors from the Obama Administration and why it is ill legitimate in the eyes of democrats to investigate that is ridiculous. Maria john solomon reported there are memos that show the Obama Administration was worried about this, they were trying to carve out the right statements should joe biden but asked about his son. Chris hines, the stepson of john kerry was Business Partners with hunter biden on other ventures overseas. When word got out hunter biden was doing the ukraine deal, chris hines stepped away. Joe bidens assertion that he didnt know his son was on the board at the time is ridiculous. It was reported. We have the emails that show they knew. Maria you wrote an op ed based on a year long study you did with the Government Accountability institute. It was titled this, look warm bond yields, mayors climate alarm. You find politicians make bold declarations about the threat of Climate Change, bond issuances in the cities barely mention Climate Change as a problem. You write politicians cant have it both ways. If Climate Change is the threat they claim, why arent Municipal Bond investors being rewarded with higher Interest Rates. If mayors are serious about leading on Climate Change they should aa line the rhetoric they speak on the campaign trail with the Interest Rates and disclosures. Tell me more about that. Take new york for example, bill de blasio talking about Climate Change as a threat. They built maps that show that large portions of manhattan will be under water in 25 years. When you look the city of new yorks 25 year bond issuances when allegedly the citys going to be partly under water, theres little or no mention of Climate Change and they say its indeterminant. We dont know what effect it has. This happens frequently. My point is, if they really believe this stuff, then Bond Investors ought to be made aware of it, youre legally required to do so and those investors ought to get higher Interest Rates. Right now the interest you get for buying Municipal Bond in denver or the coast is materially not different. Maria what is this . Are these talking points . I think its political scare rhetoric. I think the markets are indicating, certainly with investors and with what the city seems to believe they have to disclose is that Climate Change is really not the problem theyre telling us it is. Maria what about the city . We were talking about new york city with bill rudden, he said its the safest city in all of america. People are worried that crime numbers are going to go up, given the fact inmates are being let out. I think theres an issue with taking people out of prison. I understand the spirit of it. Theres all kinds of questions being raised about recidivism rates, people committing more crimes. The country needs to operate for the law abiding citizens of the country. If quality of life is declining, thats a huge problem. Maria isnt it unbelievable that amidst all of these things that need to get done, whether the city or national level, were talking so much about impeachment. Were not going to see much get done are we. Were not. Weve got the trade agreement with canada and mexico, probably going to having on china trade. Youve got all kinds of issues related to the opioid crisis. These are real material things that affect the average american. Impeachment really does not. Plus the fact, think about this, are we going to say congress is going to vote to remove a president in an Election Year . The American People are the ones who are supposed to choose and elect and decide who the president is. The notion of having an impeachment during an Election Year is ridiculous. Maria its less than a year away at this point. Peter, great to have you. Thank you so much. Coming up, google is investigating itself. Parent Company Alphabet looks into misconduct allegations against employees. Well tell you about that when we come back. Mass transit alert, one rider takes support along for the ride. The story when we come back. Stay with us. Driverless cars, or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no commission ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. And who doesnt love going home. Hey fred its medicare open enrollment. E. Time to compare plans. Were fine with what we have. Thats what the johnsons thought until they tried medicares new plan finder. The johnsons . We saved a lot on our prescription costs and got extra benefits. How bout it, fred. Plans change every year. Use the new plan finder at medicare. Gov. Comparing plans really pays. Look how much we can save. Diamonds shine like me. Theyre strong. Theyre brilliant. I am a diamond. Find beautiful diamond styles for all the diamonds in your life, including you. Get 25 off everything. Including these one of a kind deals at the early black friday vip event. Exclusively at zales. The diamond store. 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 two minutes or less. Get a nofee personal loan up to 100k. Maria welcome back. An investigation is under way at alphabet, the parent of google, after claims of Sexual Misconduct. Lauren simonetti with the story. Lauren googles Parent Company creating a special committee to look into the allegations made against both current around former executives. That inquiry includes claims that alphabets chief legal officer currently David Drummond had relationships with employees and that violates company policy. Alphabets board plans to complete its investigation by next month, not weighing on the stock this morning. Its up 4. Facebook is under fire once again, this time in california over its privacy practices. The state attorney general suing the company to force it to turn over information in connection with an investigation that began over a year ago. California going public with the lawsuit after facebook refused to comply to subpoenas. Facebook says it has cooperated with californias inquiry. Shares up half of 1 . Scary moments for a Police Officer in texas, trying to make a traffic stop. Watch. [ sirens ] lauren a camaro slamming into the police vehicle. Footage shows glass flying through the air. The officer was attempting to stop another car when he was hit. Nobody was seriously hurt. Miniature horse getting prepare at this of sniel smiles on a San Francisco train. He drew a lot of attention. The picture went viral. I like in new york when youre on the subway and you see someone with a Christmas Tree, you know the Christmas Tree on the subway. Maria whens the last time you saw a horse. Lauren never, actually. That tops it. I hope the horse was train broken. Maria me too. The only thing ive seen a new york city subway is a huge dog, stuffed into a canvas tote bag with the head and front paws, so you know the owner trained him to sit like that, very peacefully. A support pony, why not. Maria i do that to dusty sometimes, put her in a bag. Shes cute. Maria shes little. How much does she weigh . Maria under 10 points. Can you bring the horse on the airplane. Remember the story, the support peacock. They didnt let that one on. Maria when we come back, were looking at trade negotiations, the u. S. And china apparently agreeing to a tariff rollback should the phase one deal get signed. The Market Reaction coming up. And it is a good one. Markets are up in the triple digits. Trading up for luxury timepiece, the new partnership letting you get that watch you always wanted. Well tell you how. Stay with us. I want to he sho show you alle finer things in life. So just forget about the world, be young tonight. Im coming for ya, im coming for ya sometimes your small screen is your big screen. And with the Xfinity Stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Whether youre travelling around the country or around the house, keep what you watch with you. Download the Xfinity Stream app and watch all the shows you love. Maria welcome back. Just in time, you can now treat your watch like your car, swapping it in for an updated or upgraded model. Switch watch maker, brightling partnering with a leading recommerce marketplace for a tradein, tradeup venture. Joining us right now is terry and hamilton powell. Thank you for joining us. These watches look absolutely spectacular that you brought. I think this is an important story because people buy these very expensive watches and then they want to get another one but these are pricey items. Tell me how this swap, Tradeup Program will work. Thats what we thought like you, we thought sometimes you have watches you dont wear anymore and you have them for a long time in your drawer, in a case, and you could have the opportunity to trade them in. We found a great partner, crown and caliber, that sells secondhand watches and we find a Great Partnership with them. So youre able to have a quote for your watch that you want to trade up, trade in, as you said. Its a swiss watch brand. You can have the opportunity to buy a brightling instead of it. Maria tell me about the value of some of these expensive watches. When you buy a car, as soon as you drive it off the lot, you see it go down. Do watches hold their value. One thing thats unique about watches, unlike other as assets, they keep ticking. Whether its a cell phone, car or other assets, they end up in the scrap yard in five, 15, 20 years. Watches are made to last. They have a unique depreciation value. It makes it from a preowned standpoint a unique a asset. Maria there are people who are just collectors of these fantastic. Watch as well. Some of these watches are so beautiful and i like to look at the back to really see the workmanship. Tell me about these watches. Brightling makes watches for men and women for style purpose and action. We are an inclusive brand. We start around 3,500 and go higher. The watch youre looking at today, to celebrate our heritage in the world of aviation, you like to see the movement in the back when we have our inhouse movement that we make from scratch ourselves. Maria exactly. We like to show it. We have a sapphire back. Maria i love that. Thats so beautiful. We have watches they that are also a little more dressy like the timer that youre seeing right here. Its one of the premiers that youre having, the blue dial. Maria thats gorgeous as well. The opportunity to get into the brightling world with a tradein option. You can get look at brightling on your wrist by trading in the old one. Maria you can trade any watch that you have. Any luxury watch or swiss of watch, yes, that crown and caliber is an expert in that field, has been doing it so we thought it was great to partner with them. Thats the interesting thing about this market. Every year theres roughly 5 billion worth of mechanical new watches sold at retail in the u. S. Every year and the thing that i just explained about the unique depreciation of a watch, means that every year the preowned inventory in the country grows. And so theres an estimated 125 billion worth of used watches in circulation in this country alone, either on peoples wrist or in their closets an so this maria ive got five of them in my closet right now. Exactly right. What a tradein Program Allows is for people who have a watch that they may not be in love with anymore may not be wearing anymore, the ability to trade it in for something that they now want and tradein has been a tool thats used in other industries for many years and its just now through this partnership being able to be used in the watch industry. Maria have you seen the watch industry have a Significant Impact from the fact that people are getting their time from their phones and there are fewer people wearing watches. I dont think so. Im asked that question very often. I thought when the smart watch came in and Big Companies were putting smart watches on peoples wrists it was a good thing. I was more worried when people looked at phone for their time. People wearing a smart watch, its great. When they want to treat themselves, they can put Something Else on their wrist. I think its positive now that you see people with a smart watch. Were not in that price segment. We dont want to compete with those companies or watch. We have an alternative that is more stylish or watch for a purpose or action like we said. So we think its a great thing that young people have the smart watch. You can have a smart watch and also have a swiss watch. Maria theres also the fit bit type watch as well which is also i think a competitive situation for good watches. Some of the watches are very high in price, right . Yes. Maria tell us about the prices of watches today. Well see prices on the crown and caliber platform from 2,000 to six figures. It just depends. Well see all sorts of different watches on our platform. I think thats whats the value of the tradein program, it allows individuals who may not love the watch that they have and they can now get a watch that they may not have wanted two waifs or thre watches or th, they can have the ability to take a watch that is unwanted and now get the watch they want. Maria thats beautiful as well. Any other trends you can tell us about. I know this is a big ticket item for people. What is the high end luxury set doing right now with their money . I think the consumer always as we said, we have a lot of collectors, they like watches and they aa spire to have a nice watch on their wrist. That segment of the watch business is doing well. I think in the time of like we have right now, only the best brands and the most solid ones are progressing, when you have a stronger heritage, strong quality practice and when you have a history. So basically people stay true to the brand they like, sometimes want to have another brand but the high segment is doing well. Maria especially with the Value Holding for so many years. Good to have you both. Thanks so much. Trade boosting futures this morning of. Well be right back. 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. More exciting than than getting a lexus. Giving one. This is unbelievable it really is. The lexus december to rembember sales event lease the 2020 rx 350 all wheel drive for 419 a month for 27 months. Experience amazing at your lexus dealer. Its an honor to tell you that [ applause ] thank you. Liberty mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria well good thursday morning. Thanks for joining us. Im Maria Bartiromo happy thursday your top stories 8 00 a. M. On the east coast, on the button u. S. China trade driving markets this morning were look atha pretty good rally China Ministry of consumers saying overnight both sides have agreed to roll back tariffs, if a deal on phase one is reached. The news pushing fushts higher towards a record highs start of trading dow industrials up 136 points, in unchartered territory s p 500 up 11 nasdaq 40u7 yesterday all three indices ended shy of alltime high record highs, as you can see, the dow pulled back a fraction as nasdaq, in europe this morning, we have bank of England Holding rates unchanged two of the nine officials voting to lower rates due to signs of economic slowdown in eurozone ft 100 up 24 points cac quarante in paris up nine dax in germany higher by 91, in asia overnight, fractional movers pretty much across the board, as you can see, there, the wealth tax battle goes on, bill gates taking on senator Elizabeth Warren, over her plans to tax the rich, now congresswoman alexandria ocasiocortez is getting into the fray, war of words coming up, disney out after the bell with preview what to expect we are looking ahead to next quarter, includes a new star wars movie froze ten and the launch of disney plus the streaming, streaming intensifying as disney about to enter the field, netflix spending billions on programming this year, ceo a historying says will go higher next year, 15 billion dollars on original contented all those coming up thursday morning to break it down fox business deirdre bolton, 32 advisors founder ceo former Economic Advisory to pet Obama Robert Wolf chairman of forb immediamedia steve forbes in this case away from tariffs top story way nt to know if looking at anything else that is important to strikes you . A couple things, one is the elections on tuesday. For republicans we will discuss soon latin america especially in country chile, prosperous in lat america, left making a move unraveling in mexico drug cartels beating the mexican army showdown a couple weeks ago worried about what is happening there. You make a lot of good points you said your looking at elections, democrats are coming out, winners in several of them recently. The last three elections, especially mid terms,th past week i mean they have been home runs for the dems more governorships state lgs, just take about virginia, you know prior to President Trump, they were you know twothirds onethird republican, now a majority democrat. Maria if you get a deal on china, you would expect, that the economy does better and markets better. We as you reaction in the futures, of course, and you know the only thing that is a little bit suspect shall we say you pointed outed earlier beijing usually doesnt describe how much progress is being made. But it seems like the happier noises from china are being really considered sort of hard one result, so i do think there is a a little bit of lets just say ambiguity we have not heard anything from the u. S. Side. Maria. You have been talking all year, right, we have seen contractions Business Investment two quarters. The tariff and trade deal have hurt two areas, the most, agriculture manufacturing any time even if glass is half full or half empty if we have iterative moves good thing according to Chinese Ministry beijing and u. S. Agreed to simultaneously rollback tariffs as part of phase one trade deal blake burman at the white house with more on that good morning to you. Good morning to you as well let me try to walk through quick a headline as you noted, is out of beijing this morning china says there is an agreement, in place is between u. S. And china, not to go forward with future additional tariffs, the statement made, earlier today from a spokesperson for china Consumers Ministry catching the attention of the markets and this is what he said at one point quote, both sides agree to remove additional tariffs imposed in progress is being made on the agreement, if china and. S reach a phase one deal, both sides should roll back existing additional tariffs in the same proportion simultaneously, now here is what i am told, according to a source familiar with the matter, if there is a phase one trade deal, then it is safe to believe that the new batch of tariffs on december 15 would not go into effect, the caveat being, if there is a phase one trade deal, you will notice from the comments out of china this morning, the word if you have got as weld china mentioned phases, i am told that some of this is still being mapped out maria we have reached out this morning u. S. Yet to comment on statements made in china. Separately we are told by sources from both sides, that the utilized phase one talks moving into december is not a part of the trade conversation at this point, the negotiations are still happening under the premise of sticking to apec time line china trying to get done by next week, of course, is when apec conference was to take place three last items to note first identify, of course, neither side announced a phase one trade deal, secondly, when a potential signing could take place and where a potential signing could take place is a big question the bottom line with all of this maria, i am told that things one of the big headlines that things are starting to move or at least are moving. In the right direction. So blake to be clear blake this is the chinese want a rollback of any tariffs increases, not necessarily rolling back all tariffs that is not what they are talker about they are talking about taking off those tariff increases planned for december. December 15, you will remember maria when President Trump was in oval office with liu he december 15 time line was used as a buffer of if there wasnt a trade deal that they could go forward with them, if there was a trade deal it would be sort of, a tbd has kind of been a marker for the negotiations but you are right it is about the december 15th tariff, so again, being told some of this is still being mapped outed which is why it is positive are to sort of wait here for a second, to see exactly what the u. S. Side does officially about all of this. Again coming from Chinese Ministry as you reported, not from white house, blake, thank you blake burman latest there, at the white house, joining us is former speaker of the house Fox News Contributor Newt Gingrich, great to see you and what about that point we havent heard from white house if we were to see the white house, roll back, the plan to increase tariffs in december, what is the u. S. Get do we get a promise that they are going to stop stealing intellectual property . How do you feel on this . Well, look i think all the problems are in the enforcement side. The chinese routinely sign things then cheat the question becomes if they agree for example, and i dont think they will, but if they agreed to quit stealing intellectual property would require that they frankly would have to retrain thousands of people entire divisions Peoples Liberation army dedicating to stealing American Intellectual property they have a huge reemployment problem if they actually kept their word. The tendencies to overhype we dont know get excited by it the truth is the economy is boings along reasonably well, the chinese are much worse shape than we are when you combine the economic problems, from the trade system, with the collapse of their pork production largest propitiousing producers in the world deeply hit by african swine flew decimated killed half chinese crop, chinese pork population. They got 2 i heard they have 250 million dead pigs right now newt. Right. This is economic what is the Economic Cost of that if they keep enough protein as chinese have become more middle class, they like more and more protein, so are they going to import for example this bonanza for iowa . I dont know. The point. Overreact. They have to buy for being from us deirdre because they have this crisis with the pigs. I mean we were hearing stories guards being positioned even as north korea line shooting pigs, whether or not true in spreading into north korea right. Have quick question followup on what you said, on enforcement lets assume to your point china doesnt change that right, because in essence would also have to change its laws. I feel like okay, they are not going to do that what is a win for us . And this point in this trade war how do we deescalate he besides will get outlines. You a know i wrote on trump versus china i am frankly not very sanguine about this stuff i think we are much too ether to find a solution, china has been cheating routinely, across the board they have norms threat to us in 5g and huawei, intellectual property theft is extraordinarily and to get them to change, is going to be painful. If we dont get them to change, they are going to continue to rip us off. Maria i agree with you newt. I think this this is going to take you know i think we will get an initial interim agreement then find out they are cheating we have to have a second round, and i think you will see for the next 10 years, a continuous cycle of we get deal they cheetah we have a new fight we get a deal they cheat. And i cant imagine that they wont. Nothing in their behavior would lead me to believe you could trust them in terms of getting a deal. Maria bingo robert wolf, how are you what would you recommend . Being very tough, i will give you example create a tax credit for any Company Wants to move production out of china to anyplace else in the world. Just social one time cost, and about deliberately move allamerican production out of china as fast as we can i think we ought to say to chinese, you know, you are not our future. You are not only producers you are not only manufacturers, and frankly i would look at tik tok, where we have this goofy army idea we are going to buy ads on tik tok a chinese internet system, by the way, is totally censored you cant read about Tiananmen Square cant read about hong kong, it is crazy that u. S. Army is thinking about paying chinese money to subsidize one of their propaganda systems. Google does it didnt google go to china to tweet its Search Engine for that if you search for Tiananmen Square you wont get the truth, that is pretty extraordinary. Newt i know we may have disagreed in the past in some things, but going back into Something Like tpp where 11 countries around china have trade agreements with u. S. , that is my my opinion the best way to attack china is be more vibrant with everyone around china whether vietnam, indonesia a better approach than worrying about what we do with them why he did a deal with japan. The tpp we could have done china made a deal, steve forbes, newt, china made a deal trade deal 15 other countries we are cut out. We didnt have to do that. That is right. Maria he is agreeing with you absolutely. In long run i think weing get better deals he bilaterals than we will in multilaterals we have more advantageous in negotiating, net president ial candidate likened tpp. Trade more with china than us if you make a choice between them and us they say dont do it we are dependent on china. We are going to watch that, because the president is trying to do more deals i know what you are saying there is a lot of questions about tpp for ensure on impeachment public hearings to begin ethics week republicans fighting for unmask whistleblower we learned whistleblowers person calling for impeachment, far back as 2017 newt your take about what were about to see . I think this is all a kangaroocourt, and incas as is chief kangaroo start down that road i think also, we augmenting to demand genuine openness, and we ought to know what is in all committee documents, thech been a running secret operation, still running a secret operation. They stay next week public hearings . Yeah, what is all the background behind the public hearings what are the negotiations been like with lawyers . Who have they been threatening look at Gordon Sondland what has he been threatened with to have him reverse his story under oath, by the way, i think a lot is wrong and dirty, about how they have done this. Maria yeah, i know devin nunes has to get permission from adam schiff, to bring a somebody down to interview, there is that as well Newt Gingrich good to see yous sir thank you. We will be right back, stay with us. the enchanted disney fine jewelry collection. With exclusive bridal styles at zales, the diamond store. Performance comes in lots of flavors. dramatic orchestra bridal styles at zales, theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Maria mcdonalds bike market mover this week this morning, the fastfood giant ceo announced that he will purchase 500,000 dollars, worth of company stock, it was revealed he did not own any shares when he was named ceo this week, stock is higher ahead of open this morning, plus former ceo steve east brooke fired is on for a consensual relationship with employee as you know he was credited for helping boost sales at mcdonalds with menu renovations allday breakfast fresh beef burgers following that firing he stepped down from the board he stepped down from the board at walmart as well, however mcdonalds stock to recovery since announcement of departure look where it is as you see it is higher by a quarter of a percent, now on to twitter turmoil former employees charged with sfieg for saudi arabia. Jeri willis on the floor with a closer look at this gerri. This is a fascinating case maria that is right, u. S. Attorney in San Francisco charged two former twit employees Saudi National helping saudi government spay on dissidents the quote from u. S. Attorney internal systems personal information about known saudi critics thousands of others twitter users information right to stayedi family this is a bribery story expensive wrist watches hundreds of thousands of dollars in payments went to former twitter employees twitter welcoming this investigation you can do down so you can see a year after murder of khosrowshahi, so this could create more tension saudis and washington we will wait and see any remember when prince alwaleed owned a stake in twitter, but this story is just beyond. Amazing that they are charged with spying for the saudis, we will watch that. You are welcome. Maria on twitter disney also on deck with earnings gearing down report after the close tonight it its Quarterly Earnings ahead of the longawaited launch of disney plus, plus rival netflix to take a bite out of competition says ramping up spending, on content more than before how netflix plans to do that, how much is going to spend in effort to dwav streaming rivals coming up. When you look at the world, what do you see . Where others see chaos, we see patterns. Connections. Relationships. When you use location technology, you can see where things happen, before they happen. With esri location technology, you can see what others cant. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on 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, disney earnings in focus expected to report fourthquarter earnings after the close night estimates call for 19 billion dollars in revenue 95 cents a share earnings, expecting, from the Fourth Quarter this coming as the longawaited streaming Service Disney pluses to be unveiled in five days joining you think right now lj. H. Investment advisories managing director larry great to see you thanks for joining us. Hi, maria. I want to ask you about the quarter what you are expecting, and even more so i want to ask about streaming war, netflix saying o going to spend more than it did last year, on original content 15 billion dollars, so this strategic wars are just intensifying, first give your take on the disney quarter what we might expect tonight. Well, i think what you are going to get i am not so much interested in the numbers itself maria but the rhetoric i think you are going to get a fair amount of cautionary rhetoric from management on the on the spending nearterm so i think if you take the next three months, the direction of the stock will be down. The next three years, though i think the direction of the stock will be up, so i think we are going to have some some shortterm turmoil would be on the side i think, the quarter could be a little problematic for nearterm Financial Health but long term is very, very clear. And i think that is really the important thing. There are a number of positive factors here one, i think it is underappreciated how muchs exposure this company has to china if things improve visavis our dealings with china, and there is reason on both size why they should. Maria yep. The company with two theme there a monster Consumer Product business very friendly video business especially in the film area where the chinese actually like the disney content, it is enormous upside for the company. If things get better. E. The second thing is once youve taken the pain of the streaming, what the company is doing is breath the streaming market is elastic in a media company, the surest way to make money when company resells its library, and disney essentially with streaming is reselling its library but added a wrinkle reselling it library by cutting price of the library, the price cuts are going to be, basically running through the income statement in next two to three years going to be problematic, but after that, you are going to have a company with 200 plus billion dollars of market cap, with unparalleled brand franchises, and i think very clearly, because the streaming is going to the cash flows going up sharply, going to be one of the Fastest Growing companies in the world that includes things like apple. Basically large Institutional Investors have to own the company, so shortterm turmoil, longterm skies are very, very blue. And i think the Management Strategy here is painful in the short term but brilliant in the long term. Why do you think in steve forbes here why do you think two or three years streaming will turn up profitable short term going to be a drain everyone doing it pouring billions into it why do you think will turn three years for dns what is going to turn it around. For disney . I suspect that i suspect that you like myself are in grandchildren business. And if you have grandchildren would you please explain to me how you are not going to have the product in your house . I would like to know, because you are grandchildren are going to be dealing with other grandchildren, and going to be in their house, i think the market here is is going to be about a rite of passage to take your kids to disney world disney landed. You think disney wins streaming warriors not worried about competition from netflix given disneys library . Well i am worried about it maria because, basically for the first time i followed the company for over 30 years, first time i can remember, their competing against a company where wall street doesnt care how much it spends. And this is kind of interesting there are two companies in this category, now, amazon, and netflix. It because it has Amazon Web Services a mountain of freecash flow. Maria right. Doesnt have Amazon Web Services sometime or other you can see this yesterday, in in roku sometime or other, maybe i will live long enough market is going to take away reads checkbook my guess is sometime in the next three years, because,it wasnt supposed to be that spending increased next year going from 12 to 15 billion dollars, and netflix freecash flow billions negative, it some point, unabout about nobel wall street will take checkbook away the mouse will win. Larry great to see you thanks so much, coming up the war on wealthy billionaire bill gates raising red flags over senator Elizabeth Warrens he wealth taxing freshman congresswoman alexandria ocasiocortez technological to warrens defense details when we come back walgreens wings teams up with google Drone Delivery Service wing to bring food drinks over current medication to your doorstep the exclusive inside look when we come back. Stay with us. vo the moth without hope, struggles in the spiders web. With every attempt to free itself, it only becomes more entangled. Unaware that an exhilarating escape is just within reach. Defy the laws of human nature. At the season of audi sales event. Investment opportunities beyfirsthand, like biotech. Ne because your investments deserve the full story. T. Rowe price invest with confidence. Maria welcome back, good thursday morning thanks so much for joining us. Ima passive. Thursday, november 7 top stories right now 8 31 a. M. On the east coast u. S. China trade gomentsz driving markets China Ministry of commerce saying both sides have agreed to roll back, the expected tariff increases on december 15, if a deal for phase one is reached. The nice pushing markets higher going to open unwhich arented territory rally 160 points on dow industrials have to among, s p up 12 and one half, the nasdaq up 41 points, european indices higher this morning we have news from bank of England Holding rates unchanged as expected the ft 100 picked up steam up 4 points cac quarante in paris up 13 dax in germany higher 101 points initial jobless claims outed on tape in front of you asian markets fractionally moving as you can see, to look fractional moves across the board the trade war takes a toll on tech finds out how many billions are being paid as tariffs as consumers get ready to spend big on the holidays, then food drinks medications flown to your doorstep, walgreens teams up with google for drone delivery we have an exclusive look this morning at that service, as it takes flights coming up top story this half you are a hour wealth tax debate billionaire microsoft cofounder bill gates sounding off on 2020 president ial candidate list list plan to tax the rich when asked if he would like to meet with the senator, gates said not sure quote how openminded she is or if she would be willing to sit down with somebody about who has large amounts of money warren responded to him in a tweet saying this, i have always happy to meet with people even if we have different views, as bill gates if we get a chance would love to explain exactly how much you would pay under my wealth tax i promise not a hundred billion dollars she says, alexandria ocasiocortez backing warrens fight you yall billionaires to go for safe space in addition to entire u. S. Economy political lobbying industry, this fight is going on and on your reaction. Robert was right earlier think when he said that in fight like that, the the attacker is going to win short term but i think if people recognize, that taxing wealth means reducing the price of assets, you start to relate that to 401 k they dont nonthat have maria that disney crash Scrooge Mcduck in money bin with piles of cash that is what democrats like warren think you go and take the cash. No. They are assets hard software the like, systems, and if you start taxing that the value goes down, money is not there. Confiscation. Destroy wealth. When you destroy wealth turn capital away guess what happens to the economy . Economy goes down, so people reports should be so concerned going to hurt the most. Issue how do you pay for this stuff, i mean you are talking about a medicare for all package, costs, 52 trillion dollars, even if she takes money and con is ifcates from bill gates eli musk, a hundred other people you are still not going to get to 52 trillion dollars you are going off to to raise taxes on middle class, she just will not admit that. A couple points, one i am for health care as a right not for medicare for all i am for a Green New Deal not this Green New Deal that being said we gave her free mulligan because all week was being hit by the left right and center, on her on how she would pay for medicare for all. You know what we just did we allowed her because of leon cooperman Larry Summers stooefr ratner will be gaits all of this to talk about the whole populous argument income inequality a free pass a good 24 hours for her. Even saturday night live staphing her not paying for any stuff when that hits late night tv, mainstream yood, y media the way independents will go. Cant go more than 24 hours in terms of ignoring this whole medicare for all, means Less Health Care in europe that is what we have he to emphasize they control costs by rationing what you get, you wait you dont get it in england pointing out you need kidney dialysis, they let you die. Bernie sanders. Medicare for all is is medicare for no one. Bernie sanders hitting her on tax there will be middle class taxpire Pete Joe Biden toughest on her more than republicans all week bashing it as you know, you know, this math doesnt work as you know mall arc or something. Taking away your health care that is what o bottom line. An important point in europe, you can wait for a year, and before you want to get that mri or whatever it is the are bureaucratics making decisions for you you want with washington politicians like elizabethize determining who gets health care who he do you want managing your money bill gets or Elizabeth Warren no contest. That is easy one turn to 2020, and what is going on here, because, this is only part of the story medicare for all there is a poll from Quinnipiac University finds 4 Democratic Candidates vying for top spot in iowa caucus massachusetts senator Elizabeth Warren receiving 20 support, among likely democratic caucusgoers by 19 ir mayor beet. 15 joe biden i know you have given money to democrats have not to Elizabeth Warren. Two of four i give a to mirr mayor pete not to Elizabeth Warren or Bernie Sanders i have not given them money i think i have given to almost every one else just take your money that is good my reaction is this is not surprising, 40 Democratic Party moderate, 40 populists right now the numbers where it is coming out. Populists im sorry prov progressives the loutedest main loudest jiesht a poll 56 moderate 40 something percent populist what i would say it is early 100 days away from iowa, obama was losing big at this point, okay, to clinton in iowa, and 07, so we. So we still have really no idea when where this is coming out i do think people are missing not talking about iowa. All you need to do is get north 15 to get delegates if he everyone kinds of everyone around 15 like theyre all get delegates go on to hampers South Carolina with momentum those who dont get 15 probably opt out. Who is in lead right now democratic side. Well, i think joe biden is in the lead even though biden problem. The most important poll there were two important polls one electability looks bet begins President Trump 12 points i know pols i mean nothing you were asking this week first swing state pols, and you know, michigan. Axelrod said he is seldom interviewee candidate disappeared into ether. A big mayor pete guy i like mayor pete to pennsylvania jo baets president four out of six pols even on one Elizabeth Warren only had one, of the six so i think i think this week a good week. Any chance bloomberg will run as independently. No. You said admanhattanly there is no chance you think no, because to run because mayor bloomberg is a winner would inconsequential in if he can win, you cannot win this country as independently no third party a break you are going to be interested an exclusive look about walgreens from Hillary Vaughn. Good morning. We are live in virginia where this is a town has first public Drone Delivery Service in america, we are live in the drone you can see drones waking up doing morning stretches before a busy day the deliveries we have inside look for you, when we come back. An official message from medicare. Hey fred its medicare open enrollment. Time to compare plans. Were fine with what we have. Thats what the johnsons thought until they tried medicares new plan finder. The johnsons . We saved a lot on our prescription costs and got extra benefits. How bout it, fred. Plans change every year. Use the new plan finder at medicare. Gov. Comparing plans really pays. Look how much we can save. 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. Anthe magic moment. Waste. Congress really democratized wall street. I w t everybody in. Because people couldnt access wall street. We wanted to be agents of change. For the better. Maria welcome back walgreens teenage one of which the google Drone Delivery Service wing to bring food drinks over countser medications straights to your doorstep Hillary Vaughn from virginia, with an exclusive look at the service in action good morning hillary. Reporter . Good morning, maria, we are going off to a live delivery process for you in a moment, but we want to give you inside look the only town in america, where you can have something delivered to your doorstep within minutes you can see, we have a package going out this is how it works they pack its up, in the containingbin over there, then they bring the package, over here, they are going to be essentially meeting the drone lifting up getting ready to take the package, wings partnership with walgreens first of its kinds Pilot Program fully operational customers can orders over 100 different products inventory shows up in midnights like a highway in the sky, thanks to this fleet of three pound drones fly 65 miles per hour. An go as far as 12 miles round tripp also strong, they can carry their body weight in items packages over three pounds, walgreens tells us this program is a way to compete with amazon but, also, with direct retail competitors cva riteaid tell me they are talking to regulatory about what next step they wants prescriptions dlifrhe delivered your door in talks to make that map fedex partnering with wings we will see fedex packages did dropped off in minutes from now, they can sleep last mile of delivery i talked to fedex not only costeffective for them but also a game changer in rural areas, because, the drone not constrained by weather more reliable for them they think ultimately going to save them a lot of money, both fedex walgreens say they want to take this program, nationwide. But right here, were about 3 weeks into this program about robert wolf with us chairman of measure the Drone Company what do you think about this. It is not surprising, so we did years ago in texas with a walgreen competitor delivery it is good to last mile for rural areas not going to happen, we are noting having jettisons in new york city drones over big city. Best place is from rural areas where is the best Disaster Recovery the idea using drones to deliver packages for Disaster Recovery by far best, but this country, has to fast forward regulations i think that is why we are doing last mile, we cant fly in to still a democrat. I am a democrat. All regulations. They are killing you, listen. Now we serve drinks. I am not even going there i am not going there. Maria alert earnings pg e out border border earnings Third Quarter not providing guidance due to uncertainty were the around while fires welcomes he engagement of Governors Office toward o revolving cherpt 11 process down almost 4 pg e tech tightsance a hits from trade future a deeper look into thousand the titfortat fight is impacting technology dont forget to ask maria send in questions on instagram twitter, i will answer them tomorrow, and every friday, back in a minute, stay with us. Lets go lets go diamonds shine like me. Theyre strong. Theyre brilliant. I am a diamond. Find beautiful diamond styles for all the diamonds in your life, including you. Get 25 off everything. Including these one of a kind deals at the early black friday vip event. Exclusively at zales. The diamond store. At the early black friday vip event. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because 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 need all the breaks as athat i can get. Or, 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. Christenson welcome back beijing washington agreeing to simultaneously roll back tariff increases as parts of a phase one trade deal, that is according to chinas Consumers Ministry as tariffs are hitting industries across the United States Consumer Technology Association Revealing today that 15 1 2 billion dollars, in tariffs have about affected Tech Products through september technological would be hit with with additional 11. 4 billion dollars without those a phase one trade deal, joining us flight to talk about that Consumer Technology association ceo president ,gary shapiro great to see you. Great to be back. Thank you so much for being here today give your youve got new numbers on impact of tariffs. Sure two steps forward one tweet back. Every few weeks we are like exorcist girl haez keep turning great progress you love it the way impacted us almost two years planning difficult Companies Taking money out of profitability as you said spent so much money in septemberp triple tariffs last year a billion dollars in tariffs, just for one industry. Have those companies passed on the increases to consumers . Or are Consumer Products more expenditure. Interesting a 28 reduction in september of imports of Tech Companies yet paying more in tariffs they are absorbing some raising some not very variable. Of course, everyone ends up par affecting bottom line of so Many Companies and time spending money on lawyers tariffs, rather than on innovate. That is what you said earlier. Socalled phase one, is that going to remove those kind of obstacles or just the going to make it a little less painful you are still going to have all this he wasted effort. Well, if we could cut off tariffs totally the goal go back to what we had we could have predictability. Didnt somebody say trade wars are easy to win . [laughter] you know this goes back to smoot hawley in 1930 several thousand economists said this is a bad thing congress dont do it that is when congress had power before, the president took it. And you know what happened with Great Depression exacerbated, came on here only one economist in the country able to find that thinks this is a good idea sadly works 1600 pennsylvania avenue. I see so white house. I am not sure loving it either, by the way. Okay, i mean you know. You think there is pushback within white house on tariffs. We know in the past before, you know, steve moore and larry, laffer, steve, they were more free traders. Steve moore art laffer aring guesregular guests. Think newted said really well the announcement today dont hike. He was pretty negative on announcement today with respect to the to tariffs and trade in the sense that you know this doesnt really move the needle. And it sounds like the way you say it as well. Like yes good maybe that is but Business Investment continues to contract consumers paying for it, you know until we get some stability of what is this going to be between china and u. S. , it feels like you know europe i wouldnt say cautiously optimistic you are just cautious. I said since week elected that President Trump will measure him by stock market, indeed, this is has been the issue most up and down the stock market every time if he wants to economy to keep up humming that stock market up needs a trade deal got the low Interest Rates he wants only other thing to do at this point is Index Capital gains to inflation. You know innovation very do you make of softbank disaster this has down 6 1 2 billion dollars for quarter what does that do for intuentrepreneurs. There are others we will see, and if worse comes to worst vcs funding a lot of people around the country clear up services around for a very long time their other intu entrepreneurs will come along. Uber said we have no idea when we are going to be about profoundly. I am more concerned about is the fact we are seeing big Companies Big companies can buy small companies, and that is if you are going to invest you want exit strategy, ipo grow into it or sell out to big company best source in the sense of exits for smaller companies. Big events coming up in january, the ask Consumer Electronics show, consumers projected to spend 97. 1 billion dollars in technology gifrts before the end of the year tell us give a preview of what is hot. Well, wireless ear buzzing streaming Services Content delivery, and, of course, smartphones high and tv sets lap topts Consumers Want to get want to buy. We will see at conference in january. We will see everything, 4500 companies, three million square feet exhibits 170,000 in las vegas every won focuses innovation coolest. I got to tell you great to see you thanks so much gary shapiro right back with final thoughts from allstar panel. Stay with we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. Or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. Maria final thoughts from this allstar panel. Steve forbes . Trade deal, take the missouri attitude, show me. When we see the details, that will be good. Meantime, we have seen this movie before. Maria good point. Robert . I thought the idea of what you guys were talking about, disney and the stuff they are going to do in the future, i mean, they are the company to see. Maria yeah. Netflix keeps paying up. U. S. china trade news coming right now from the china side. Maria exactly. Take that into account. Good to see you. Right to Stuart Varney we go. Varney Company Begins now. Stuart dont give my story away. Good morning, maria and good morning, everyone. You are about to see more alltime highs for stocks. Im going to call it a yearend rally. We are going to add to the 10. 6 trillion worth of Wealth Creation since Donald Trumps election three years ago. Yeah, china trade. Thats the reason for todays rally. The headline is this. The u. S. And china have agreed the a tariff rollback. The important words there are rollback. Good for trade, good for consumers, and throw in a lot of farm product buying by china and youve got