Transcripts For FBC Mornings With Maria Bartiromo 20240714 :

Power, at least fourstorm related deaths as dorian makes its way on the east coast. In bahamas, hundreds possibly thousands are still missing, death toll continue to go rise in the bahamas, we will bring you live coverage, we will take you there coming up all morning. Ipo issues, wework report lid cut of valuation with more than half, weve got the Details Behind the struggle coming up, mornings with maria begins right now. Maria big show this morning, it is a big day for markets on joes day, joining the conversation this morning Fox Business Network Dagen Mcdowell and chief workforce analyst courtney is here and chief economist john, great to see you, guys. Good morning. Maria big day on jobs, a lot to talk about this morning, also on deck joining the conversation the founder of next digital, Majority Shareholder joining us live on hong kong unrest, activist and leader in hong kong situation and we will get his take on latest developments, congressman is here on Technology Jobs and former wall street Journal Editorial Board member joining us as well, dont miss a moment of it. Of course job report is really important, futures pointing up this morning, china cut the amount of cash that banks must hold as reserves in liquidity in economy, investors are waiting jobs report due in about 2 hours, economists expect 158,000 jobs added to the economy with Unemployment Rate Holding Steady, whats your expectation . You know i think it could be better than expected, we saw that with adp report this week, the expectations, you know, certainly were beat by about 50,000, maria, what we are seeing theres still such a strong demand, so i believe, you know, employers, certainly might have a little uncertainty to, you know, still to trade but the demand is there for workers and all still sets, many industries, i think weve seen a little bit of softening in manufacturing but even starting to pick back up, so i wouldnt be surprised if this morning beat this morning. Its important to see what comes out of this number because this is going to indicate or at least perhaps dictate partly what the Federal Reserve does two weeks later, right . Thats so correct. I would imagine that unless its a very, very strong number we will see the fed cut by at least 25 basis points september 18, if you want to get a 50 basis point cut you would have to have a very weak report, report thats so weak that it sparks a deep selloff of equities, i dont think thats going to happen. Dagen top story in wall street journal that its lining up quarter rate cut, essentially almost completely baked in. Day before yesterday was 90 , very, very small chance of 50point cut but the one thing to watch, manufacturing has been the soft spot in this economy and the job growth in manufacturing has been quite a bit slow in the first 7 months of the year, weve only added 55,000 manufacturing jobs through july, 162,000 is where we were in the Previous Year in the first 7 months of 2018, we are expecting 8,000 manufacturing jobs added in august, that is half of what we saw in july, so little bit of a surprise there would kind of boost equities and maybe cause little bit more of a selloff in treasuries. Maria we have china trade also a major issue, obviously is telling target suppliers ahead of september 1st tariff hike that they have to pay additional costs, not the retail giant, beijing now feeling the tariff impact, some manufacturing has left china already, report from tokyo, neighboring countries like vietnam, malaysia, south korea all benefiting from the trade issues. John, what do you think, are Companies Moving out . Companies are beginning to recognize theres such a thing of political risk, not a bad idea to diversify your sources of production, i mean, its going perhaps provide you with some stability over time. Maria yeah, but do you think we in fact, are going to see a deal . Well, maybe at least youll see truce, i think its too early to make that type of conclusion, very interested in whats going to happen in october when the parties get together again. Dagen its interesting to know what President Trump is doing and i dont think you talk about it on your show often, but i think broadly speaking we are not discussing it enough and that is President Trump is causing a sea change in the way that businesses operate overseas in terms of their production in china, this is something that would be lasting and the former head of toy r us, he was on last week, he was talking about it is business malpractice, if youre the ceo of a company and youre sitting by waiting to digest the tariffs and and not trying to move your production to other countries, he said that thousand dollars a household that americans are going to see that estimate from jpmorgan on the tariff impact, jerry said that he thinks estimates are 2 to 3, 5 times too much because the ceos have to figure out a way to manage their business and keep their costs low, period. Maria and the other thing that he said when he was on two weeks earlier with me is we are not feeling the impact of china tariffs, he said its really not seeing an impact, that so far whatever is happening either happening are swallowing or havent seen inflation that a lot of people were expecting in terms of companies yet. We will see what happens with the next tranche coming in december, what do you make of the treasury yields, you want to Say Something . Talking about the tariffs and what not, lets not forget that its up to the consume tore see how high prices will go, you can go ahead because of tariffs hike your prices by 5 or 10 but if a consumer says no way, ultimately prices have to come down. Thats been the case for some time with u. S. Consumer and this is this is why low Inflation Expectations are so very important. Treasury yields could be headed higher, if the equity market improves, by the way, we no longer have inverted treasury yield curve, once again above maria could have seen the bottom . I think that could be the case and i will tell you why, theres been strengthening in Industrial Base metals prices, copper, aluminum and the like. Maria news that trade talks would be picking up and we had a little bit up on yield, dagen, your thoughts on the move that we saw yesterday 1. 85 on the 10year. Dagen thats still incentives to send money in treasuries, again, the lower longterm borrowing rates in the United States plus the drop in gasoline prices puts a lot more money in americans pockets, mortgage refinancing, and so john has his finger [laughter] dagen am i wrong about that . Youre right and i was going add to that. You know, we now have Companies Going ahead, they are refinancing outstanding debt, that improves liquidity for the companies, they have more cash on hand, thats a positive development. You know, one thing we did see, i wanted to come back to a point you made, maria, where you said yet we havent seen some of the impacts possibly from trade yet and though we did see good news yesterday when they started talking about a deal, there was also report talking about layoffs and it was over 53,000 layoffs which is a big jump up, they did credit in the report, they said that 10,000 of the layoffs were due to trade, so i think we are just starting to see some of the impacts reported and we could see more. Maria yeah uncertainty is uncertainty and its closes business to freeze and thats what we have seen with cap x. Dagen disrupted supply chains, reduce exports, raise material cost, dont forget we started the trade fights with tariffs first on washing machines and then steel and aluminum, the addition theres been headwinds that the businesses have been trying to cope with for a year and a half. Maria yeah, all right, we will be watching that, be sure to stay tuned with us when Federal Reserve chair jay powell in switzerland, he will speak live and we will take it for you, also monday in our 8 00 a. M. Hour, i will be interviewing treasury secretary Steven Mnuchin on trade, dont miss that and we want to get secretary mnuchins take on issues affecting the economy. Coming up we are attracting dorian, category 1 wreaking havoc on carolina coast, coming up live, ipo issues, wework reportedly looking to cut valuation, why, coming up, stay with us with markets higher right now. 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, Hurricane Dorian turning off the coast of North Carolina after causing significant damage in South Carolina, thousands still left without power, fox business jeff flock in charleston, South Carolina, jeff, looks like conditions are better today than yesterday, thats for sure. Yeah, conditions here certainly but the damage is done here, perhaps you can see behind me, maria, characteristic of the kind of damage we will be surveying as we make our way north as the storm continues to pound out there on outer banks, this is what it looks like across much of South Carolina, power lines down, trees blocking the roads, that sort of thing, the other problem has been flooding, take a look at pictures from yesterday has the storm was coming in, lots of streets flooded throughout carloston, you know, its low town anyway in terms of topo graphy and the other problem people without power thanks to the transfer of lines down and transformer exploding across charleston, transformers step the power done and when you lose the lines, they can be overloaded and they explode and people, for example, 184,000 we are told now in South Carolina still without power, another 174,000, i believe, the number is, in North Carolina, and that probably should grow, lastly structural damage, fortunately not much, we have a picture of a church in james island, its the holy city church, lost a roof but that was some of the worst damage we saw, so i think its fair to say your headline, maria, is it could have been worse but, of course, we are still not done yet, still pounding up there to the north on the outer banks, maria. Maria all right, stay safe out there, thank you so much, good work, jeff flock, asking customers to leave guns outside the store, details coming up. Uk drama, Boris Johnson shows emotion when it comes to leaving european union, we will tell you all about it, stay with us. From the couldnt be prouders to the wait did we just winners. Everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Maria welcome back, brexit uncertainty, uk Prime Minister doubling down call for quick exit without extension, watch. What on earth is the point of further delay . I think its totally totally pointless. Maria this as British Parliament votes to delay the exit if a deal is not reached by october, joining me right now ceo of bip, great to see you. Thank you for having me, maria. Maria your bank is important in the globe but in the u. S. , represents 16 of the overall companys uncertainty . Its here to stay, what i see with clients, they have taken measures, some started moving resources, staff, accounts, you know from the uk outside of the uk, i was last week with ceos of largest manufacturer, operation there and they decide today move they decided to move it out as well from uk to germany. Weve been active advising in terms of hedges in terms of currencies. Maria is that the kind of uncertainty that youre seeing with your business . Particularly in the United States i see actually a lot of confidence from my clients in terms of the shortterm economy, steel still strong in terms of Consumer Spending, youre absolutely when youre speaking medium term, theres much more hesitation. Probably highlighting preferring the value to shareholders. Maria yeah, i saw the report that showed buybacks consistently continue to go up and cap x goes down. The other is Interest Rates. Kristin defending low Interest Rates, a lot of Central Banks cutting interest this year, how do you look at the world when you see the Interest Rates, you see Central Banks across the world, we have big september, the fed, the Chinese Central Bank looking to stimulate in september impacts from your standpoint . This is a very similar trend across the world, in the United States our economies are forecasting and another 50 next year as well, here is Strong Economy still here but, however, you know, slowing down. Europe is no different except its probably in deeper territory in terms of negative Interest Rates versus what we still benefit from here which is still positive. What the ecb is signaling here is just ready to continue to provide stimulus, i think it was even mentioned that they would be reflecting on fiscal stimulus. Maria yeah, i know, they have to go somewhere, theres not a lot of wiggle room to just use cutting rates as stimulus. Ecb doesnt have the theres positive dimension, this week in terms of issue issue in corporate world and they have been active in labor management, trying to extend maturities benefiting from very low rate environment. Maria i couldnt believe how many banks were borrowing, 74 billion, more than 70, give us the sense of consumer today through your eyes of the bank of the left, tell us what youre seeing in terms of the consumer and strength, thats been one area of this economy that still holds up strongly . Still strong in terms of confidence and in terms of spending and big driver of the gdp. Been active on the retail side and management capabilities which actually now is nationwide and we see consumers feeling optimistic short term. The uncertainty in the u. S. Economy is not so much coming from the inside, its coming from the uncertainties links to geopolitical and political and social tensions that you have been very well covering in your area. Maria great point, your business and wholesale focus, you can give us Vantage Point of where we are, are you expecting a recession . We we dont and you mentioned the yield curve, and this is so much discussion about inverted yield curve, recession, this is not the only factor and because this economy is still quite economies are expecting for 2019, 2. 3. Maria not at all. For next year still quite healthy, 1. 5 . Maria still growth. Working to global bank compared to the rest of the world this is healthy for the next 18 months. Maria what business drives your overall bottom line in the next 5 years, where does the growth come from . Its a great question because actually what we have benefited from is diversified geographical and business model, same thing here. We benefit from diversification. Very active with a lot of domestically and around the world. Maria terrific, great to have you, thank you so much, ceo of bnp usa. Hong kong bracing for another weekend of protests, we will take you live to hong kong, then ipo struggles, wework reported looking to cut valuation, we are taking a look when we come back, stay with us. Introducing the first of its kind lexus ux and ux f sport. Also available in hybrid all wheel drive. Lease the 2019 ux 200 for 329 a month for 36 months. Experience amazing at your lexus dealer. 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. [ scoffs ] if you say so. Im sorry . What teach here isnt telling you is that snapshot rewards safe drivers with discounts on Car Insurance. What . Or maybe he didnt know. [ chuckles ] im done with this class. Youre not even enrolled in this class. I know. Im supposed to be in ceramics. Do you know room 303. Oh. Thank you. Yeah. Good luck, everybody. Maria welcome back, good friday morning, everybody, thanks so much for joining us, im maria bartiromo, it is jobs friday, september 6th, top stories right now 6 30 a. M. On the button on the east coast, jobs in america, the august jobs report is due out in 2 hours time, 8 30 a. M. Eastern, economists are expecting 158,000 jobs added to the economy in month of august, Details Behind<\/a> the struggle coming up, mornings with maria begins right now. Maria big show this morning, it is a big day for markets on joes day, joining the conversation this morning Fox Business Network<\/a> Dagen Mcdowell<\/a> and chief workforce analyst courtney is here and chief economist john, great to see you, guys. Good morning. Maria big day on jobs, a lot to talk about this morning, also on deck joining the conversation the founder of next digital, Majority Shareholder<\/a> joining us live on hong kong unrest, activist and leader in hong kong situation and we will get his take on latest developments, congressman is here on Technology Jobs<\/a> and former wall street Journal Editorial Board<\/a> member joining us as well, dont miss a moment of it. Of course job report is really important, futures pointing up this morning, china cut the amount of cash that banks must hold as reserves in liquidity in economy, investors are waiting jobs report due in about 2 hours, economists expect 158,000 jobs added to the economy with Unemployment Rate<\/a> Holding Steady<\/a>, whats your expectation . You know i think it could be better than expected, we saw that with adp report this week, the expectations, you know, certainly were beat by about 50,000, maria, what we are seeing theres still such a strong demand, so i believe, you know, employers, certainly might have a little uncertainty to, you know, still to trade but the demand is there for workers and all still sets, many industries, i think weve seen a little bit of softening in manufacturing but even starting to pick back up, so i wouldnt be surprised if this morning beat this morning. Its important to see what comes out of this number because this is going to indicate or at least perhaps dictate partly what the Federal Reserve<\/a> does two weeks later, right . Thats so correct. I would imagine that unless its a very, very strong number we will see the fed cut by at least 25 basis points september 18, if you want to get a 50 basis point cut you would have to have a very weak report, report thats so weak that it sparks a deep selloff of equities, i dont think thats going to happen. Dagen top story in wall street journal that its lining up quarter rate cut, essentially almost completely baked in. Day before yesterday was 90 , very, very small chance of 50point cut but the one thing to watch, manufacturing has been the soft spot in this economy and the job growth in manufacturing has been quite a bit slow in the first 7 months of the year, weve only added 55,000 manufacturing jobs through july, 162,000 is where we were in the Previous Year<\/a> in the first 7 months of 2018, we are expecting 8,000 manufacturing jobs added in august, that is half of what we saw in july, so little bit of a surprise there would kind of boost equities and maybe cause little bit more of a selloff in treasuries. Maria we have china trade also a major issue, obviously is telling target suppliers ahead of september 1st tariff hike that they have to pay additional costs, not the retail giant, beijing now feeling the tariff impact, some manufacturing has left china already, report from tokyo, neighboring countries like vietnam, malaysia, south korea all benefiting from the trade issues. John, what do you think, are Companies Moving<\/a> out . Companies are beginning to recognize theres such a thing of political risk, not a bad idea to diversify your sources of production, i mean, its going perhaps provide you with some stability over time. Maria yeah, but do you think we in fact, are going to see a deal . Well, maybe at least youll see truce, i think its too early to make that type of conclusion, very interested in whats going to happen in october when the parties get together again. Dagen its interesting to know what President Trump<\/a> is doing and i dont think you talk about it on your show often, but i think broadly speaking we are not discussing it enough and that is President Trump<\/a> is causing a sea change in the way that businesses operate overseas in terms of their production in china, this is something that would be lasting and the former head of toy r us, he was on last week, he was talking about it is business malpractice, if youre the ceo of a company and youre sitting by waiting to digest the tariffs and and not trying to move your production to other countries, he said that thousand dollars a household that americans are going to see that estimate from jpmorgan on the tariff impact, jerry said that he thinks estimates are 2 to 3, 5 times too much because the ceos have to figure out a way to manage their business and keep their costs low, period. Maria and the other thing that he said when he was on two weeks earlier with me is we are not feeling the impact of china tariffs, he said its really not seeing an impact, that so far whatever is happening either happening are swallowing or havent seen inflation that a lot of people were expecting in terms of companies yet. We will see what happens with the next tranche coming in december, what do you make of the treasury yields, you want to Say Something<\/a> . Talking about the tariffs and what not, lets not forget that its up to the consume tore see how high prices will go, you can go ahead because of tariffs hike your prices by 5 or 10 but if a consumer says no way, ultimately prices have to come down. Thats been the case for some time with u. S. Consumer and this is this is why low Inflation Expectations<\/a> are so very important. Treasury yields could be headed higher, if the equity market improves, by the way, we no longer have inverted treasury yield curve, once again above maria could have seen the bottom . I think that could be the case and i will tell you why, theres been strengthening in Industrial Base<\/a> metals prices, copper, aluminum and the like. Maria news that trade talks would be picking up and we had a little bit up on yield, dagen, your thoughts on the move that we saw yesterday 1. 85 on the 10year. Dagen thats still incentives to send money in treasuries, again, the lower longterm borrowing rates in the United States<\/a> plus the drop in gasoline prices puts a lot more money in americans pockets, mortgage refinancing, and so john has his finger [laughter] dagen am i wrong about that . Youre right and i was going add to that. You know, we now have Companies Going<\/a> ahead, they are refinancing outstanding debt, that improves liquidity for the companies, they have more cash on hand, thats a positive development. You know, one thing we did see, i wanted to come back to a point you made, maria, where you said yet we havent seen some of the impacts possibly from trade yet and though we did see good news yesterday when they started talking about a deal, there was also report talking about layoffs and it was over 53,000 layoffs which is a big jump up, they did credit in the report, they said that 10,000 of the layoffs were due to trade, so i think we are just starting to see some of the impacts reported and we could see more. Maria yeah uncertainty is uncertainty and its closes business to freeze and thats what we have seen with cap x. Dagen disrupted supply chains, reduce exports, raise material cost, dont forget we started the trade fights with tariffs first on washing machines and then steel and aluminum, the addition theres been headwinds that the businesses have been trying to cope with for a year and a half. Maria yeah, all right, we will be watching that, be sure to stay tuned with us when Federal Reserve<\/a> chair jay powell in switzerland, he will speak live and we will take it for you, also monday in our 8 00 a. M. Hour, i will be interviewing treasury secretary Steven Mnuchin<\/a> on trade, dont miss that and we want to get secretary mnuchins take on issues affecting the economy. Coming up we are attracting dorian, category 1 wreaking havoc on carolina coast, coming up live, ipo issues, wework reportedly looking to cut valuation, why, coming up, stay with us with markets higher right now. 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, Hurricane Dorian<\/a> turning off the coast of North Carolina<\/a> after causing significant damage in South Carolina<\/a>, thousands still left without power, fox business jeff flock in charleston, South Carolina<\/a>, jeff, looks like conditions are better today than yesterday, thats for sure. Yeah, conditions here certainly but the damage is done here, perhaps you can see behind me, maria, characteristic of the kind of damage we will be surveying as we make our way north as the storm continues to pound out there on outer banks, this is what it looks like across much of South Carolina<\/a>, power lines down, trees blocking the roads, that sort of thing, the other problem has been flooding, take a look at pictures from yesterday has the storm was coming in, lots of streets flooded throughout carloston, you know, its low town anyway in terms of topo graphy and the other problem people without power thanks to the transfer of lines down and transformer exploding across charleston, transformers step the power done and when you lose the lines, they can be overloaded and they explode and people, for example, 184,000 we are told now in South Carolina<\/a> still without power, another 174,000, i believe, the number is, in North Carolina<\/a>, and that probably should grow, lastly structural damage, fortunately not much, we have a picture of a church in james island, its the holy city church, lost a roof but that was some of the worst damage we saw, so i think its fair to say your headline, maria, is it could have been worse but, of course, we are still not done yet, still pounding up there to the north on the outer banks, maria. Maria all right, stay safe out there, thank you so much, good work, jeff flock, asking customers to leave guns outside the store, details coming up. Uk drama, Boris Johnson<\/a> shows emotion when it comes to leaving european union, we will tell you all about it, stay with us. From the couldnt be prouders to the wait did we just winners. Everyone uses their phone differently. Thats why Xfinity Mobile<\/a> lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network<\/a> designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Maria welcome back, brexit uncertainty, uk Prime Minister<\/a> doubling down call for quick exit without extension, watch. What on earth is the point of further delay . I think its totally totally pointless. Maria this as British Parliament<\/a> votes to delay the exit if a deal is not reached by october, joining me right now ceo of bip, great to see you. Thank you for having me, maria. Maria your bank is important in the globe but in the u. S. , represents 16 of the overall companys uncertainty . Its here to stay, what i see with clients, they have taken measures, some started moving resources, staff, accounts, you know from the uk outside of the uk, i was last week with ceos of largest manufacturer, operation there and they decide today move they decided to move it out as well from uk to germany. Weve been active advising in terms of hedges in terms of currencies. Maria is that the kind of uncertainty that youre seeing with your business . Particularly in the United States<\/a> i see actually a lot of confidence from my clients in terms of the shortterm economy, steel still strong in terms of Consumer Spending<\/a>, youre absolutely when youre speaking medium term, theres much more hesitation. Probably highlighting preferring the value to shareholders. Maria yeah, i saw the report that showed buybacks consistently continue to go up and cap x goes down. The other is Interest Rates<\/a>. Kristin defending low Interest Rates<\/a>, a lot of Central Banks<\/a> cutting interest this year, how do you look at the world when you see the Interest Rates<\/a>, you see Central Banks<\/a> across the world, we have big september, the fed, the Chinese Central Bank<\/a> looking to stimulate in september impacts from your standpoint . This is a very similar trend across the world, in the United States<\/a> our economies are forecasting and another 50 next year as well, here is Strong Economy<\/a> still here but, however, you know, slowing down. Europe is no different except its probably in deeper territory in terms of negative Interest Rates<\/a> versus what we still benefit from here which is still positive. What the ecb is signaling here is just ready to continue to provide stimulus, i think it was even mentioned that they would be reflecting on fiscal stimulus. Maria yeah, i know, they have to go somewhere, theres not a lot of wiggle room to just use cutting rates as stimulus. Ecb doesnt have the theres positive dimension, this week in terms of issue issue in corporate world and they have been active in labor management, trying to extend maturities benefiting from very low rate environment. Maria i couldnt believe how many banks were borrowing, 74 billion, more than 70, give us the sense of consumer today through your eyes of the bank of the left, tell us what youre seeing in terms of the consumer and strength, thats been one area of this economy that still holds up strongly . Still strong in terms of confidence and in terms of spending and big driver of the gdp. Been active on the retail side and management capabilities which actually now is nationwide and we see consumers feeling optimistic short term. The uncertainty in the u. S. Economy is not so much coming from the inside, its coming from the uncertainties links to geopolitical and political and social tensions that you have been very well covering in your area. Maria great point, your business and wholesale focus, you can give us Vantage Point<\/a> of where we are, are you expecting a recession . We we dont and you mentioned the yield curve, and this is so much discussion about inverted yield curve, recession, this is not the only factor and because this economy is still quite economies are expecting for 2019, 2. 3. Maria not at all. For next year still quite healthy, 1. 5 . Maria still growth. Working to global bank compared to the rest of the world this is healthy for the next 18 months. Maria what business drives your overall bottom line in the next 5 years, where does the growth come from . Its a great question because actually what we have benefited from is diversified geographical and business model, same thing here. We benefit from diversification. Very active with a lot of domestically and around the world. Maria terrific, great to have you, thank you so much, ceo of bnp usa. Hong kong bracing for another weekend of protests, we will take you live to hong kong, then ipo struggles, wework reported looking to cut valuation, we are taking a look when we come back, stay with us. Introducing the first of its kind lexus ux and ux f sport. Also available in hybrid all wheel drive. Lease the 2019 ux 200 for 329 a month for 36 months. Experience amazing at your lexus dealer. 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. [ scoffs ] if you say so. Im sorry . What teach here isnt telling you is that snapshot rewards safe drivers with discounts on Car Insurance<\/a>. What . Or maybe he didnt know. [ chuckles ] im done with this class. Youre not even enrolled in this class. I know. Im supposed to be in ceramics. Do you know room 303. Oh. Thank you. Yeah. Good luck, everybody. Maria welcome back, good friday morning, everybody, thanks so much for joining us, im maria bartiromo, it is jobs friday, september 6th, top stories right now 6 30 a. M. On the button on the east coast, jobs in america, the august jobs report is due out in 2 hours time, 8 30 a. M. Eastern, economists are expecting 158,000 jobs added to the economy in month of august, Unemployment Rate<\/a> expected to hold steady at 3. 7 , special coverage coming up at 8 00 a. M. Eastern, all hands on deck as we identify where the best jobs are today, futures meanwhile are higher ahead of this number, markets are waiting to see what this number tells us ahead of the fed meeting on september 18, futures up 77 points, s p should be up about 7, this on top of pretty good rally, yesterday dow industrials up and all major indices finishing across as u. S. And chinese officials confirm face to face talks will happen in early october, nasdaq was up 140 points, one and 3 quarters points percent higher on nasdaq yesterday, european indices look like this, up just a fraction as cac quarante in paris, dax index is up 39 points, a third of a percent, we have the negative news on the economy again in euro zone, german Industrial Production<\/a>, down in the month of july as euro zone growth fell by 50 in second quarter, coming up impacting markets, asian markets overnight finished higher across the board, nikkei average up half a percent, look at hong kong, the chaos continues there, the region is braces for yet another weekend of violent protests this weekend despite withdrawal of controversial extradition bill that struck demonstrations in the first place, exclusive interview with hong kong tycoon with take on extradition bill withdrawal and what it means this weekend, a billion dollar bet gone wrong, how one hedge wrong lost a billion dollars betting in argentina in just one month, 2020 in focus, former starbucks Ceo Howard Schultz<\/a> is dropping out, we havent seen him, he said he was it was back problems, looks like hes in fact, backing out. First top story this half an hour, jobs in america, the job report due out at 8 30, economists expecting 158,000 jobs, what should we expect and how do you invest around it, lets talk right now, ali mccartney, great to have you. Thank you. Maria expectation on jobs report and what are you telling clients in terms around the report . Yesterday we were telegraphed and what we are looking forward within the jobs number is wage growth, i think all of us agree and the focus of this mornings conversation has been that amid a lot of glass half empty scenarios that we are seeing in the economy the strength is the consumer, record low unemployment, very strong Consumer Spending<\/a> and thats really keeping up the economy in the face of uncertainty around trade and how that will affect growth Going Forward<\/a> and, you know, the International Markets<\/a> which are really not performing in line. Maria so do you want to invest around consumer themes, then . What we really like to see is taking money off of the table in the areas that have a lot of exposure to china and consumer discretionary, continue to be driven by consumers Going Forward<\/a>, by wage growth and also we see very low levels of indebtedness with the u. S. Consumer in terms of wage growth, thats going up, the things that people need and will continue to need, thats whats going to drive the economy and the growth although its moderated growth for sure. Maria its interesting, dagen, i have to get your take on corporate world, you dont have a lot of debt on the consumer, look at whats going on with Corporate Bond<\/a>s, companies borrowing 74 billion in bond market this week, just this week, 74 billion, the most of any since 1972, another 50 billion projected for the rest of your take, alli, i have to take your take but dagen, your reaction to that . Dagen you are taking advantage of the low take advantage of the low, low, low, low Interest Rates<\/a>. Get them while supplies last but, again, it gives these company if theyre sitting on cash even apple going into the Corporate Bond<\/a> market, it gives them a lot in case of bigger slowdown. Let me tell you how low the Interest Rates<\/a> are, we have a record of Investment Grade<\/a> Corporate Bond<\/a> yields going back to 1919, we are looking at the lowest longterm Investment Grade<\/a> Corporate Bond<\/a>s yields since 1956, thats a long time ago. Maria sure is, is there an impact there . Yeah, the interesting part about that is that, yes, they are low, we all agree that they are going lower, another 25, maybe 50 basis point cut in september and expectation by end of 2020 we will be down 100 basis points, its interesting that if thats the dry powder that companies are taking on now, i wonder what that means when we cap forward maybe 2 or 3 quarters. If youre correct, Consumer Spending<\/a> picks up and home sales donned respond, chances are you are close for bottom longerterm bond yields. If they can cut rates, one and 3 eighths percent and we could see 1. 75, 1. 8. Dagen does that mean theres been a bubble in longerterm treasury securities thats huge concern given runup in price appreciation in 30year bond, in terms of putting new money to work . You know, so putting new money to work for for individual clients is different than putting money to work if youre in a corporation. You the same uncertainty hanging over and you have the same issue between, you know, the same is that bonds which werent really an alternative for many years to stocks as we were pushing to risk assets are now alternative and so you have the funny situation where we are talking about all negativity and you also have s p highs. Only if you look at them, sort of like insurance policy against recession. Okay. Dagen insurance policy since early 80s. 30year treasury bond yield of 2 , my goodness, the 2 yield is less than the feds long run forecast for the federal funds rate, thats 2 and a half percent. Maria something against the recession, do you think a recession is coming . Well, its inevitable. At some point its going to happen, maybe too early. Maria i was talking about you want me to go out in the limb, i dont see it in the next 12 months, probably not. I think at the end of the day, right, trend is trend, you are either borrowing forward in terms of trend which we have been doing for a lot of years now, right, average expansion is 5 years and we are going into year 12, its coming, the question is how profound, how deep is it and when is it and how long does it last. Maria i know that you sound bullish and you want to be in stocks but you want to stay away from tech . Yeah, tech has outperformed almost, its at about 30 year to date which is about twice the s p and i think what people are forgetting is that theres a component that feeds into the consumer target that we argut that we are talking about and also the most expose today china, we are talking about index thats almost 50 , semiconductors and smartphone parts, so, you know, i think that that, for example, is a great place to take money off of the table and put into things that do protect you given all the things that we talked about. Maria we will leave it there, alli mccartney, special coverage 8 00 a. M. Eastern, an hour and 20 minutes from now we will have all hands on deck looking at jobs picture. Hedge Fund Reportedly<\/a> hit very hard by bullish bets in argentina. Lauren simonetti with headlines. Lauren lost a billion dollars after election upset and market crash according to wall street journal, argentina on brink of financial crisis, the paper says the founder of autonomy capital believes the country can recover. Wework delaying ipo, the company will not go public next week according to wall street journal and will reduce valuation because of low demand. Wework now considering valuing 20 billion, less than 40 billiondollar received in capital market, more retailers are asking customers not to bring guns into store where opencarry is allowed. Walgreens, cvs, announcing the policy change yesterday following walmart and krogers lead earlier in the week, the move does not affect police and Law Enforcement<\/a> officers, the shifts come as Companies Respond<\/a> to calls to prevent gun violence following string of Mass Shootings<\/a> around the country. Hong kong is brace forking more protests over the weekend, demonstrators threatening to disrupt transport to airport, Angela Merkel<\/a> says that a peaceful solution is needed in the city, america sl in beijing visiting the city with Large Business<\/a> delegation, stay tune because tech tycoon jimmy will be on this show, 7 30 a. M. Eastern time, we look forward to that, maria. Maria thank you so much, lauren, expectations for more this weekend, we have been talking about all week, big week in mornings with maria, take a look at top moments in the program this week. China filing complaint with the World Trade Organization<\/a> over the Trump Administration<\/a>s tariffs, are you expecting a deal . I think we will see a deal, maria, and look at how china reacted as soon as the japan agreement was announced, knowing that is there in principle, i hear from my democrat colleagues is that the usmca will pass handily in the house. The fact is canada, mexico and u. S. Have agreed to this and comes to yes or no, i think the pressure on Speaker Pelosi<\/a> particularly from a radical left to do nothing which gives President Trump<\/a> a victory is very, very real. Somebody would dig into the history of what created this mess with china that trump is fixing, the smart guy in the room is President Trump<\/a>. Farmers are staying with the president , they understand the threat of china and so there is some pain thats coming to them, they understand the rising threat that this country has to all longterm freedom and democracy and status of global leader. I think its right in 10,000 of a dow, frankly huge thing for that because it start having dynamic consequence where the rest of the world, japan, south korea, everywhere in the world will start doing deals and that was one of the most spectacular policy events ever, rocketed the u. S. Economy during kennedy era and this is the same type of thing with trump. One of the things that they are most scared up is to be hanged up by the rest of the world and vulnerable with what the u. S. Is doing right now and the problem is how do you talk about chinese, broadcast the fact that they are part of system and not fair traders. China does manipulate the currency and subsidize the goods that they bring into the country and they are stealing our intellectual. They are outwardly arresting leaders of the demonstration as best they can determine who they are, this is young Peoples Movement<\/a> who are organizing the demonstration and they had many involved in that as opposed to one or two leaders themselves, thats a sign that the ccp is going to begin the crackdown. How about in property tax to include stock portfolios, the yachts, okay, thats all. [applause] so, okay, so by the way, im not proposing to wealth tax because im cranky. Maria the diamonds, the yachts, confiscate wealth, start now, herman, what do you think . Its classic class warfare. Johnson and johnson did not cause opioid crisis, unable to find a victim that was impacted by Johnson Johnson<\/a> product. Maria more than just a store, it is experience for shoppers certainly in new jersey. [laughter] maria i like it. We trust usaa more than any other company out there. They give us excellent customer service, every time. Our 18 year old was in an accident. Usaa took care of her car rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance<\/a> quote today. Maria welcome back, race for the cure, the susan g. Koman foundation dedicate to go eliminate Breast Cancer<\/a> through Research Care<\/a> and action, thousands will come together coming up but they come together to solidify the commitment and our next guest has personal connection, joining us right now fox business gerri willis. Great to be here today, we are excited about the race on sunday, you know, we have a bigger team every year, this year fox will have at least 70 people, sorry, im just love it. Maria you have backup. Last years team, we have lunch afterwards, fox pays for the whole thing for fox employees and they will match your gifts, so people, if youre a fox employee and youre giving money, you have to apply for the match, because thats what really propels our contribution and you know what this finances, finances mammograms for women who cannot pay for it themselves, money for legal health if you cant navigate the insurance system, if you are, you need maybe dinner, right, they will deliver dinner for people who cant make dinner themselves. Maria gerri you said it changed your life. In a good way, i just want to share that, oh, if i get diagnosed it would be horrible and awful. Maria it was horrible initially. But ultimately what you take away is positive story, you see me in chemo right there, thats me and my family, you learn to value things like family, like relationships, even nature, you know, i wrote a piece today that i was brought right back to the to the this moment of when i was diagnosed with Breast Cancer<\/a> because they found some precancer cells on my my cervix, i got back to the point i got back at the beginning of Breast Cancer<\/a> which was scared and frightened and what i realized its one good against the other, you can beat these things especially with Early Detection<\/a>. Dagen and talk about it, a lot of other women have been through same experience and when you share, you learn, it gives you strength and gives you power together. Youre such an inspiration and good luck on sunday. Thank you, appreciate it. Maria, thank you for having me on. Maria thank you for getting the word out, i know we are all donating and be behind you, you said Early Detection<\/a> thats largely due to mammograms. If youre young, im under 50, i dont need one, yes, you do and get get sonogram too. Maria gerri willis please go to we will be right back. This is the age of expression. Everyone has something to say. But in a world full of talking, shouldnt somebody be listening . So. Lets talk. We are edward jones. With one Financial Advisor<\/a> per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. Maria welcome back, get ready for chapter 2, final installment of stephen king thriller hitting theaters today, joining us film critic, mark sergeant. Great to see you. Great to see you. Maria first it movie did well at the box office, what are you expecting here . I am expecting just as good or might do better, its satisfying, its almost 3 hours long, you to be prepared. Maria that killed it for me. [laughter] it kills it for you. I have to say the casting is great, if you like the kids in the last movie, perfectly cast actors to play them as adults, the movie is easily as good as the last one, its long but entertaining. Maria its scary . Its scary and maintains and keeps getting scary, you get scared throughout the whole movie. [laughter] particularly narp you guys like scary movies . Im always cautious on the scary movies but what i find interesting my daughter who just turned 14 cant get enough scary movies, so i dont know, it was never a big one for me. Stephen king is sort of specific kind of maria reboot of the bad boys franchise debuting this week, bad boys for life, featuring smith and martin lawrence, how is this one, your thoughts . Im iffy. Maria on the fence. The original was okay, it was at the time, i didnt laugh at the trailer and i wanted to. Maria these movies, have they been down 2 from last year despite a couple of blockbusters, you had the lion king, toy story 4, why are people staying home . Well, i think theres a couple of factors, one a number of bombs, x men, kitchen bombs, two, i think that tv is so good now that maria thats it. Whats going to make you get up and go to theater. Maria we have to go to tv expert Dagen Mcdowell<\/a>. Dagen i will be watching because they did podcast with bill simmons and im hooked, there you go. Maria my husband is watching a lot yellowstone. Dagen thats awesome. Sorry, i didnt mean to yell. Maria a lot of ideas for the weekend. Mark sergeant joining us there. Jobs in america, jobs report out in about an hour and a half, details coming your way next. 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. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. but how do i know iflly im im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options<\/a> for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights<\/a> . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions<\/a> are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs friday, september 6th. Your top stories right now. Jobs in america this morning, the august jobs report due out in an hour andahalf. We are expecting 1 158,000 jobs to have been added in the month of august. We have special coverage coming up at 8 00 a. M. Eastern, as we identify where the jobs are today and the of best paying one as well. Markets are higher. Dow futures up 88 points, s p you up 8 and three quarters and nasdaq futures higher by 17, a quarter of a percent. Thats on top ofs big rally as well yesterday big rally as well. U. S. And chinese officials confirm a fresh round of facetoface trade talks that will take place in early october. Dow industrials were up 372 points at the close yesterday, one andahalf percent. The nasdaq yo up 140 points, one and three quarters percent yesterday alone. European indices are mixed. Cac is down 2. The dax index is higher by 43. You had weaker than expected Economic Data<\/a> in the i dont da. Growth fell by 50 in the second quarter. The latest signs of slowing Economic Growth<\/a> taking place. Hitting markets. In asia overnight markets were higher, take a look at the hang seng, up twothirds of 1 . China cutting the amount of cash that banks p must hold as reserves. That would inject liquid i at this into the liquidity into the economy. Hong kong is seeing chaos, bracing for another weekend of violent protests despite the withdrawal of the controversial extradition bill, which sparked the demonstrations to begin with. Ill speak with hong kong tech tycoon jimm jimmy lai later this hour. Border funding battle continues, the Trump Administration<\/a> diverting millions of military funds to pay for its longpromised wall. We will tell you about it. Dorians path of destruction, meanwhile, high winds and torrential rains slam the carolina coast, leaving hundreds of thousands without power this morning. At least four storm related deaths have been reported in the United States<\/a> as dorian makes its way up the east coast. In the bahamas, its really a tragic situation. Officials say hundreds, moss poy thousands of people are still missing as the death toll continues to rise there. Well have live coverage all morning of Hurricane Dorian<\/a>. Officially out, Howard Schultz<\/a> is dropping plans to run as an independent candidate. Weve got the latest on the road to 2020 as we have Howard Schultz<\/a>s statement this morning, coming you up. Also coming up, next digital founder, Majority Shareholder<\/a>, jimmy lijimmy lai on the hong kg unrest. Plus, author stephen moore, as part of the jobs panel, dont miss a moment of it. We indicate where the jobs are, we want to get your take, joanie, because your firm is putting people to work. Yeah. Putting about 90,000 people to work, manufacturing, logistics roles. I will you say say, theres a sg demand for workers. One of the things we do look at certainly is the he demand for temporary labor. If were starting to see a slowdown, employers will cut temporary workers. Another thing well look for is average hours worked because thats another indicator if we see that number start to slow down, that could show signs of a recession certainly. Maria this report is going to indicate what the fed may do, john. Look, the top story in the journal as dagen reported earlier is the 25 basis point cut were expecting from the Federal Reserve<\/a> on september 18th. That is what youre expecting . Exactly, almost 100 probability according to the futures market that that is going to take place in a couple weeks. It would take a very weak employment report, an employment report that is capable of driving the equity market sharply lower to bring in the possibility of a half percentage point rate cut. Maria the journal talked about the same thing yesterday, dagen. The fact theyre saying it is going to be a quarter point as the reporter, as you always mention to him, spoke to the powers that know, its going to be a quarter point. We assume the journal know what the fed is thinking. Dagen the tag on the journal website this morning, it said exclusive. Thats like an exclamation point at the beginning at the end of that, to tell you to Pay Attention<\/a> of to this. I wanted to add that in july, average weekly hours worked among private sector employees did fall from a year earlier. So theres been some softness in some of the gauges on how much people are working. Thats one thing to watch. On the other side of that, just to mention quickly, unit labor costs came out and it did show that wages went up. So that actually was something that was unexpected but certainly is impacting profits right now for companies. So a lot of Interesting Data<\/a> points out there. Maria all the things were going to be discussing coming up. Our top story this hour is the border battle, President Trump<\/a> diverting money from military projects to pay for the border l wall, getting pushback from democrats. Joining us now is hugo girden. Good morning to you. Thanks for having he me. Maria your reaction to all of this. Will the president be able to get the money he needs to build the wall . Yes, hes going to get the money. Its billions of dollars and of course theres going to be pushback. When you take three or 4 billion from other areas of spending, theyre going to be losers and obviously members of congress are looking at where the money is now not going to be spent in their districts and theyre up in arms about it. You know, its easy to find shortness of breatsobstories. One place wont get a new middle school, another place wont get child care. The New York Times<\/a> found those sob stories and refers to the wall as the president s wall. Its actually the nations wall. And i think a lot of viewers will say, listen, it is always the case that the president decides what the National Security<\/a> issues are. He has decided that an influx of Illegal Immigrants<\/a> across the border is a National Security<\/a> issue and, therefore, money that congress voted for defense, for National Security<\/a>, is appropriately spent there. Maria interesting. Youre right about the New York Times<\/a>. The president s wall. I mean, the administration meanwhile is speeding up a challenge to emission standards, trying to soften obama era rules. Your reaction to this . Whats the impact here . I think that there will always be a debate about emission standards, greenhouse gases. We saw the democrats speaking for seven hours the other day about all of their plans. Theres plans for they want to have carbon taxes. I think that human global warming, that is to say the contribution is one which is up for debate all the time. The democrats want massive spending on this, massive taxes. The republicans generally say lets not do things which damage the economy. And so thats where the debate is. Maria theres a lot of go ahead, dagen. Dagen this is a really critical story. I cant emphasizes this enough in the wall street journal. They point out that it looks like the Trump Administration<\/a> is girding for a fight with california. California for years has taken the lead on essentially setting the emissions standards and fuel economy stan r cards for the entire standards for the entire nation. President trump and the administration allowed them to do that. It looks like we could have two sets of emissionses standards and a long protracted legal fight between washington, the at medicinadministration and calif. The automakers are already struggling this year. Sales have been slowing. Youve had lost jobs in the Motor Vehicle<\/a> and Automobile Industry<\/a> this year so far. They were hit with steel and aluminum tariffs. And youre basically telling American Automakers<\/a> they dont know what kind of cars to make in terms of fuel economy, this is a big, big loser for manufacturing jobs in that sector. We dont want to lose sight of the fact that correcting Climate Change<\/a> is not going to come he cheap. I mean, people say, well, we have Climate Change<\/a>, we have this problem. They dont really go through the discussion of how much its going to cost us to lower Carbon Emissions<\/a> and it very well might be the cost could be astronomical. In exchange, we get a slight improvement maybe as far as lowering global temperatures. Dagen we need to point out, this is something that was already in place. President obama raised the caf standards, the fuel economy stan dadstandards for automobiles ine country. They were too high across the Automobile Industry<\/a>. Now its california versus the rest of the country. California versus washington. And these automakers dont know how this is going to end. That cant be good for business if you cant make decisions. Maria these extreme left positions, like youre seeing coming out of san francisco, is one of the reasons a moderate cannot get past go in the democratic party. We have the breaking news this morning, former starbucks Ceo Howard Schultz<\/a> said he will not run for president. We have his many statement righs statement right here. He writes not enough people are willing to consider backing an independent candidate, because they fear it might lead to reelecting a dangerous incumbent president. Howard schultz is saying, he is announcing today he is pulling out of the president ial election. John. Well, as you said, theres no moderates running on the democrat side, maybe excep joe. Hes facing a lot of opposition. This brings back memories of 1972 when we had a not very popular president in office, richard nixon, going against a left winger from the democrats, george mcgovern. It turned out that nixon won by a landslide. Maria hugo, whats your reaction. When you hear hes pulling out and he says about he takes a shot at President Trump<\/a>. Hes pulling out because he was making absolutely no traction. And its interesting to think that joe biden is now as you rightly say regarded as the mod he rest in the field. Hes no moderate. Hes always been a leftwinger and hes going with the flow on this. I dont think theres any resistance on his part to for example, the other night he was saying how much he supported the green new deal. He wanted more details added. He said it didnt go far enough. Hes not going to be resisting any left wing policies if hes the nominee. Maria do you think he is going to be the nominee . Its a fascinating i dont think hes going to be the nominee. Hes not going to be the nominee. I think once this is going to happen. Elizabeth warren takes more votes, more support away from bernie sanders. Its going to mean that President Biden<\/a> is not going to be able to run through the middle between sanders and warren. The party wants someone more left wing. I think thats how its going to end up. Maria thats what i said. The extreme policies are making it real hard for anybody who is remotely moderate to get past go. I dont know what happened to this party. Hugo, thank you. Great insights from you as always. Well see you soon. Be sur sure to join us monday morning, ill be talking trade with Steven Mnuchin<\/a> in our 8 00 a. M. Hour. Dont miss that. We have a lot to talk about with the treasury secretary, from the economy and rates to housing finance, lot to talk about with the plans over fannie mae and freddie mac as well, Steven Mnuchin<\/a> my special guest on monday. Meanwhile, Hurricane Dorian<\/a> is churning up the east coast, leaving thousands without power. Jeff flock has the very latest from South Carolina<\/a>. Reporter im just north of charleston. Yesterday, flooding all the way through the marshes here and look at this. Its even lower than when we started. Thats characteristic after a hurricane. If we look at the maps, dorian is up along the outer banks, lashing the outer banks in a similar fashion that they lashed here. The weather wonks among us wondering will we get a landfall. At this point we dont know. The National Hurricane<\/a> center calls that. Thats when the center of circulation, the dead center comes over land. Hasnt done that yet. May not do that. Big flooding here along the South Carolina<\/a> coast yesterday, some pictures perhaps that show just how bad it was in charleston, South Carolina<\/a>. Also, tornadoes spawned. Up in North Carolina<\/a> now, when you get that interaction with the eye wall and the land, thats what spins up tornadoes, causes friction. That may be a problem here as well. We had several yesterday. May have some more today. The storm that will not go away, maria. Called dorian. Maria thank you so much. Jeff flock, live this morning. Coming up, hong kong bracing for another weekend of protesters, Democracy Advocate<\/a> jimmy lai will join us to give us a status check. And walmart versus target, why target is seeing a boost in sales. Back in a minute. I dont know you anymore. Managingaudreys on it. S . Eating right and staying active . On it audrey thinks shes doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk . Maybe not. Jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. So it could help save your life from a heart attack or stroke. And it lowers a1c. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection. In the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection,. Ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it with jardiance. Ask your doctor about jardiance. Its an honor to tell you that [ applause ] thank you. Liberty mutual customizes your Car Insurance<\/a> so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. Robert mugobi, the longtime leader of zimbabwe has died. We have details. Cheryl he died in singapore where he received frequent medical attention. He took power back in 1980. He was forced to resign in 2017 by a military coup. Tyson foods is fishing for a new source of profit. The meat Company Investing<\/a> in a startup called new wave foods that makes plantbased shrimp. It remains to be seen if customers will bite at the opportunity. If you are flying out of new jerseys Newark Liberty<\/a> International Airport<\/a> anytime soon, bring an extra book, charge your phone. The airport is ranked at the worst in the country for having the highest share of flights delayed or canceled. Only 64 of flights that departed newark between june and july left on time. Other airports making the top five list, from a Company Called<\/a> air help, are ohare, laguardia, Denver International<\/a> and Dallas Fort Worth<\/a> international. You now you know. Target is causing a big sensation with a small concept. Thats right. Its mini stores are taking off, very pop r later, helping the company blow past earnings estimates recently. New data from placer. Ai shows the mini stores have given target an edge over walmart when it comes to attracting customers, earning more than 100,000 a year. The retailer is placing the stores in higher earning neighborhoods. Target has 100 of these small stores with plans to open more. Shares are up 64 this year. I just went into the small target by penn station. Its perfect. Its all you need, in and out, one, two, three. Maria cheryl, she loves target. Its so funny. And then we have these great numbers. Shes the new indicator in terms of where to shop. Lauren lets see if he she won in hawaii. Ask her on monday. Maria liemonday. Maria lululd expectations. Thats one to watch with a 5 5 move. Hong kong unrest, the city braces for another weekend of protests despite the withdrawal of the controversial extradition bill. Ill be speaking to Democracy Advocate<\/a> jimmy lai ahead. A new study by ibm says millions of workers around the world will need to be retrained because of Artificial Intelligence<\/a>. Well have details coming up. I was living life all wrong. The smartest thing i ever did was make you all mine. I aint crazy, girl. You know that i love you. Kevin Kevin Kevin Kevin<\/a> Kevin Kevin Kevin<\/a> Kevin Kevin Kevin<\/a> trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James<\/a> Financial Advisor<\/a> can do for you. 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<\/a> into one monthly payment. You can get your Interest Rate<\/a> right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Maria welcome back. Were focused on jobs in america this morning. A sny studa new study finds that 120 million workers across the world will need retraining in the next three years because of artificial inteartificial intel. Joining us now is ibms chief resources officer. Tell us about the report that ibm is out with this morning on workers. Look, the report covered about 5,000 different executives andifferent countries, in companies around the world. What it found was last time we studied it the top two skills that people were looking for were Computer Science<\/a> skills, Software Skills<\/a> and then stem skills. Thats dropped now to like number six and number eight. And whats happened is companies are starting to realize we actually need soft skills too, those are the ones that are most in demand. We need a combination. Now we have more hybrid skills. And so that was the big finding i think from the study one of the people who weve spoken with is ki fu lee, former president of google china. He says as a result of ai, machines will replace 40 of jobs in the next decade. Thats a scary number. You know, all jobs are going to change. There are new jobs being created all the time because of ai. So its not clear. I think there are many studies that would suggest that its not going to be quite that big. But i think the key is every job is going to change. Looking at my own field, i cant help but mention that Artificial Intelligence<\/a> has not done a very good job of predicting where the economy is going or whats going to happen in Financial Markets<\/a> because i dont know of one ai program or technique that predicted that the feds next move late last year would be to cut rates. Theres a lot of question marks as far as how far you can take ai at this point in time, how many jobs might be lost to it, but thats not saying that economists did a better job than ai did at predicting whats happening in the markets. The economists legacy of predicting has not been so great. Maria the ai machines are powered machines are expected to take the jobs of things that are reliant on day th take. Youve day a take. Youvdata. Youve got a data, lig if you should get a mortgage, theres some things people say machines could do faster and more effective. You have a list of skills needed for 2018 in your study. Go through the skills that people need so they can survive in the new normal. Data analysis is very important, data science. I think so many people in their jobs are moving data around. Theyre validating day data. Theyre moving from one spreadsheet to another. Theres so many jobs where theyre doing this. That is going away with automation. Maria whats your take on this list. Shes got flexibility, adaptable to change, ability to prioritize, time management. These are skills ibm says you need. One thing were seeing, we do a lot of employment staffing in logistics and manufacturing, one of the most important skills to have is the ability to learn because to your point, the jobs are changing so much, so even in manufacturing or logistics or warehouse, forklift driver, they need to be able to work with maria you say manufacturing. Its the white collar jobs that are under attack in my view, in the near term, because of ai. Youre talking about white collar jobs like getting a mortgage, like reading a mammography, things that machines are doing so effectively. All jobs are changing at all levels. I mean, even the blue collar jobs are really changing. They need to work with robots in the warehouses and so it really is every single job. So those skills and the ability to learn and be open to embracing new skills thats right, thats right. Its so important. They call it learning agility or mental fluidity, that has become really important. I think in the more industrial age, consistent shee conscientia really important skill. Now what were saying is we want you to be open to new ideas and adapt on the fly. Thats a whole different set of soft skills. Maria really good stuff. Diane, thank you so much. Good to see you. Stay with us, our special jobs in america coverage begins this morning at 8 00 a. M. Eastern. Coming up, hong kong unrest, the region bracing for another weekend of protests. L ill be speaking with hong kong Democracy Advocate<\/a> jimmy. Leejimmylai next. And facebook rolling out a dating app. The private i sigh concerns coming the privacy concerns coming up. Back in a minute. Please dont go. Dont go. Dont go away. Please dont go. Dont go. Im be begging you to stay. Built for you. So why isnt it all about you, when it comes to your money . So. Whats on your mind . We are edward jones, a 97yearold firm built for right now. 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From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions<\/a> are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is friday, september 6th. Your top stories right now. It is jobs friday today, the august jobs report is due out in an hour from now. We are expecting 158,000 jobs created in the month of august with the Unemployment Rate<\/a> Holding Steady<\/a> at 3. 7 . Our special coverage of jobs begins at the top of the next hour, 8 00 a. M. Eastern. Going into the report weve got a rally underway. Were at the highs of the morning, futures indicating a gain of 100 points out of the gate for the dow industrials, a third of a percent. S p futures up 10 andahalf and a nasdaq higher by 22. This on top of yesterdays rally. The major indices finished up across the board largely due to u. S. And chinese officials confirming that a fresh round of facetoface trade talks will happen in early october. Dow industrials were up 372 points yesterday. Check out the nasdaq, up 140 points, one and three quarters percent. European indices not so strong. Take a look, fq100 down 5 and a quarter. Cac is positive by 4 points and tadax is up 6 63 points. German Industrial Production<\/a> was down in the month of july as eurozone growth fell by 50 in the second quarter. The latest signs of slowing Economic Growth<\/a> in europe, the eurozone having a hard time generating any growth. Asian markets this morning look like this. At the close, the hang seng index was up twothirds of a percent. The shanghai composite up half a percent. China cut the amount of cash that banks must hold as reserves. That is a form of stimulus. There is more hong kong chaos to report, more protests are planned for this weekend despite the withdrawal of the couldnt l extradition bill. Hong kong tech tycoon and Democracy Advocate<\/a> jimmy lai will join me in moments from hong kong. Under the microscope an antitrust into facebook and google. Major concerns over user data coming up. 100 years in the making, the nfls golden season kicks off with an old rivalry, highlights coming up. First, our top story this half hour, unrest in hong kong. Take a look at the pictures from from sunday. The region bracing for another weekend of protests, despite the withdrawal of the controversial extradition bill that sparked demonstrations months ago. Earlier this week my next guests home was fire bombed. Joining me now is Democracy Advocate<\/a> jimmy lai. Its great to have you back here. Thanks very much for joining us. Thank you, maria, for having me. Maria first, let me ask you about your personala personal s. Your home was fire bombed. Are you okay . What happened . Is your family okay . Everythings okay. It was very small you nuisance that we are already getting used to. Its very small thing. Maria its a small thing but it feels like because youre out in front on the front lines of this, these protesters, now youve become a target. Do you believe you are a target now of the Chinese Government<\/a> . I dont think its directed by the he Chinese Government<\/a>. I think theres some folks that try to appease the Chinese Government<\/a> or the Chinese Office<\/a> here. So some rich people give them some money to do these stupid things. I dont think thats directed from the Chinese Government<\/a>, no. Maria tell me whats happening today in hong kong and your reaction to the extradition bill being formally withdrawn by the leader of hong kong, carrie lamb. I think the withdrawal is too little too late. Too little too late. Hong kong has changed. We have a lot of damage. Hong kong is totally damaged. We have over 1,000 young people arrested. We have seven lives languish. We have a lot of people get hurt and broken bones and all that has done and now she just threw out the withdrawal. No. Its not going to have any effect. I think the resistance will go on undoubtedly. Maria why will the resistance go on . Tell us what the people on the ground, including yourself, want. I know one issue is the fact that universal suffrage is something youve spoken about a lot. You want to be able to elect your own leadership for hong kong. Well, i think thats the only thing we look for, because after the threemonth confrontation with the government, we know that the beijing government is not going to give us any room for freedom. Its trying to take away our freedom, our rule of law, the way of life that we have had and the only way we can do is to go on and persist, fight for it. Whether we can win and eventually get universal suffrage, we dont know. What we know is, if we dont fight, we will lose all we have and we will lose the freedom, the rule of law, the way of life, all that we have. We have no way but to fight. Maria and this is important not just for the people of hong kong. The reason why we focus on it, really put a spotlight on it, is because hong kong is seen by the world as an International Finance<\/a> hub, democracy, freedom, the idea that you can go take your Company Public<\/a> and live by the values and be free and live by the values of the west that youve seen for the last 20 something years. Exactly. Maria thats why youre seeing so many young people in the streets. Theyre afraid of their future. Right, right. Because we share the values with america, with the west, what we are fighting is the first battle of the new cold war that is going to is between the west and china, its going to be a long war. But we are fighting the first battle of this new cold war. We are fighting your battle here. Please help us. Maria well, you want help from you came on my show first about a month ago to make an appeal to the u. S. To say stand with hong kong. Right. Maria do you feel that the world is standing with you . What are you looking for people to do to help you as you just said . Well, just politically and morally support us. I think thats very important. I think the world is turning their eyes to us and every day the headlines in the world is our best safeguard. The protection for us. The u. S. , your administration, even President Trump<\/a> has always expressed support for us and which is very good. We are very encouraged with the support, with the International Support<\/a> especially from the u. S. , our fight will go on. Maria look, german we will win. Maria german chancellor Angela Merkel<\/a> is visiting beijing this week. She called for a peaceful solution in hong kong during a meeting the chinese premier. However, she did not meet with any activists. Is germany showing that kind of support . Well, the activists well, she has to meet the activists, she has to come here. Because, you know, this movement, activists is not in china. Maria right. I mean, the world looks at hong kong as a certain place, but when the handoff happened there was a promise to give hong kong autonomy for 50 years. Youve got 28 years left. Right, right. Maria. Maria fitch downgraded e standing for the First Time Since<\/a> 1995, hong kong was downgraded to double a from a double a plus rating and fitch says the recent protests are raising doubts about the regions governance. Tell us where this could go if this continues, if the autonomy continues to be threatened by the Chinese Government<\/a> and when did this change . Was it when china decided it wanted to have a dick day r torr life or when do you think this started to change . Well, it changed since a long time ago. I think since the last maybe 20 years. But it changed rapidly since the xijinping. Weve seen encroachment on our freedom, encroachment on our rule of law and human rights. We feel that, if this is not going to stop, if we dont fight and stop this encroachment, i think hong kong is finished. Without the rule of you law we wont have the financial we will lose everything we have. Maria its is a battle of values. Its a battle over governance. Youve got a communist dictatorship in china. You say the questions over autonomy started with the asense of xijinping. Hes going to be in power for life. Hes a dictator for life. I dont think he will be in power for life. He concentrates all the power himself. Also, that means he concentrates all the accountability on himself. Now hes in big trouble. The economys in big trouble. And his own partys power struggle is very severe. A lot of people have lost jobs. The young people who graduate cannot find jobs the most. One thing is very important is xijinping is the most excellent dictator of the Human History<\/a> because of the control of recognized peoples face where you go, where have you bought, who are you with, what have you talked, all that, if you do something wrong, they dont allow you to open a bank account, they dont allow you to buy a train ticket. They dont allow you into the public places. All that suppression is unprecedented. People never had such a suppression on this. This created resentiment and resistance. If the economy goes down and triggers that emotion, can explode, that could be big problem for china. Maria this is a really important point that youre making because china has used facial Recognition Technology<\/a> in an unprecedented way state sponsored facial recognition, so they know who is at the rallies and whatever you do you get a score at the end of the year, the score will tell you if you can take a train ride. If youre smoking too much, you get a bad score. Jimmy, are you afraid for your own life after what you said in this interview, are you afraid of being a target . No, im not thinking about this. If i think about this, i would let them pressure me. Thats what the chinese communists want. I just think whats right to do and now is the ethical time for us to do something great. Maria okay. And i think something great is going to happen. Maria jimmy lai fighting the good fight, were watching you from a across the world and thank you so much. Good evening to you, it is 7 43 in the evening in hong kong. Coming up, love on facebook. The social media giant embraces an Online Dating<\/a> app. The privacy concerns there. And more on initial recognition coming up facial recognition coming up. And jobs in america, the employment numbers are out in less than an hour. Our special coverage begins in 15 minutes time. Back in a minute. Take one step at a time. Theres no need to rush. Its like learning introducing the first of its kind lexus ux and ux f sport. Also available in hybrid all wheel drive. Lease the 2019 ux 200 for 329 a month for 36 months. Experience amazing at your lexus dealer. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Maria welcome back. Facebook looking to rev up your love life, launching the facebook dating app. Deirdre bolton takes a look this morning. It sounds easy enough. We have to remember, facebook has had scandal after scandal about how they manage their data. You recall earlier this summer the company had to pay 5 billion, a drop in the bucket for facebook for how it handled that whole cambridge analytica. Lets focus on facebook dating. We are the 20th country where it is rolling out. So 19 before us. Dare i say, they tried it in a little bit more experimental ways, colombia, canada, thailand. Were number 20 on the list. Here it comes. It is free. If we dont remember what facebook already has, for most of us, a ton of information about us. But they do promise not to suggest to friends that youre already connected to. However, if somebody has expressed interest in you, you will be notified about that. But essentially theyre not going to plague you by suggesting your neighbors. The other thing theyre trying to advertise is that if you have an interest for example, if youre a dog lover you can filter matches by something called dog spotting so that in theory youre going to get a few basic characteristics in common. Maria are they going to release information about you have to opt in. So theyre trying. They have 2 billion users. I should say, the stock is a absolutely 45. 5 , the best performing fang yeartodate, s p a 500 up 18 andahalf percent. Love them or hate them, the stock is performing very well. Theyre trying to take on tinder and bumble, be young and hip and cool to keep the young ones. Maria what do you sunshine. I dont care about the safeguards but if youre married do not use this application. This is a warning. [ laughter ] dagen come on, john, what are you doing here . Dont smoke in bed. Maria you know what . It makes sense that facebook would get into this space. Theyve been looking at jobs, right, and the next generation. The worst thing people say about them is the grannies are suggesting that you look at their grandkids. They need an image makeover. I think this is one step, at least facebook is hoping in the right direction. Maria whats the feature, secret crush . You can express a secret crush and then its sort of mutually, but they say the other person has to be opted in for that person to receive your message of a secret crush. Maria deirdre, thank you. Well be watching this one. Deirdre bolton. Coming up, the nfls 100th season kicks off with the oldest rivalry, all the highlights from the packers, bears face off, next. Oh, wow. You two are going to have such a great trip. Yeah, have fun thanks to you, we will. Aw, stop. This is why voya helps reach todays goals. All while helping you to and through retirement. Um, you guys are just going for a week, right . Yeah thats right. Can you help with these . Oh. Um, were more of the plan, invest and protect kind of help. Sorry, little paws, so. But have fun send a postcard voya. Helping you to and through retirement. Maria welcome back. The nfl kicking off its 100th season. Green bay and chicago go head to head. Jared max with the highlights. Jared the nfl with the kickoff, a matchup between teams that first met in 1921. The bears against the Green Bay Packers<\/a> and kind of a snooze fest. Only one touchdown in the game. Aaron rodgers who sat out the entire preseason would connect for a short touchdown with jimmy graham in the second quarter. Rogers threw for 203 yards. It was a late game interception by adrian amos that sealed the win for green bay. The final was 107. First time since 1931 1932 packs beat the bears on the road. Monday night the raiders most the broncos. Dont expect to see Antonio Brown<\/a> on the road. They plan to suspend him and may try to avoid 30 million in the guaranteed contract. Aside from missing most of Training Camp<\/a> and not agreeing to wear a league sanctioned helmet, he is reported to have shouted at the general manager, threatened to have pu punch himn the face. Coach, are you having fun with him yet . Im emotional about it. I think a lot of this guy. I think a antonio is a great receiver and deep down hes a great guy. Im frustrated. Im not going to say anymore about it. I hope it works out. Jared sunday, football fans, we have a great lineup. Vikings host the falcons, redskins at the eagles, the rams visit the panthers and the late games, cow boy cowboys at home t the giants and buccaneers host the 49ers. The nfl season is under way. Happy friday. Maria jared, thank you. Jobs in america is next of. The august employment numbers are out in about 30 minutes. Youve got special coverage beginning at the top of the hour, four minutes away. Mornings with maria continues right here. Back in a minute. At fidelity, we believe your money should always be working harder. Thats why, your cash automatically goes into a Money Market Fund<\/a> when you open a new account. And fidelitys rate is higher than etrades, td ameritrades, even 10 times more than schwabs. Plus only fidelity has zero account fees and zero minimums for retail brokerage and retirement accounts. Just another reminder of the value youll only find at fidelity. Open an account today. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. as a principal i can tell you this. When one student gets left behind, we all get left behind. This is a problem that affects each and every one of us. Together with ibm, we created a whole new kind of School Called<\/a> ptech. Within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. You know whats going up today . My poster. Today, there are more than a hundred thousand ptech students around the world. Its a game changer. [ soft piano music playing ] mm, uh, what do you do for fun . Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options<\/a> based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. Maria welcome back. Good friday morning. Thanks so much for joining us. Im maria bartiromo. Jobs friday, september 6 top stories right now 8 00 a. M. On the east coast, the august jobs report due out in 30 minutes from now, about economists expecting 58,000 jobs added to the economimen of august, the Unemployment Rate<\/a> steady 3. 7 , markets rallying going into the numbers a take a look at futures indicating gain better than 100 points start of trading this morning, up almost one half a percent on dow s p up 12 nasdaq up 25 points a third of a percent on top of yesterdays rally major indices up across the board, largely due to the u. S. Chinese officials con finaling a fresh round of facetoface trade talks set for october october dow industrials up 372 points nasdaq, up 140 points one 3 4 in europe, markets look like being this we got german Industrial Production<\/a> this morning for july, and the eurozone growth fell by 50 in second quarter, the latest sign of slowing Economic Growth<\/a> in eurozone ft 100 down 3 points cac quarante in paris up 7, dax in germany up 75. About one half twothirds of a percent rather in asia overnight, take a look at numbers the shanghai composite in china was up half a percent, china cut amount of cash the banks must hold as reserves inrejected stimulus liquid into the economy there is slowing down. This is more protesters are planned in hong kong this weekend, even after officials pulled controversial extradition bill democrat advocate jimmy lai joined me last hour here is what he said. It is the communist goes down that emotion triggers in a emotion with an explode that will be big problem for china. This morning, fitch downgraded hong kong due to continued unrest we are looking at the hong kong situation, worsen despite extradition bill because they want autonomy now want to be able to vote for their leadership, as they were promised under microscope, state attorneys general launching antitrust probe into facebook, google concerns over user data coming up all those stories for special jobs day sp special coverage. Charles payne Dagen Mcdowell<\/a>, Stephanie Pomboy<\/a>, great to see everybody well Stephanie Charles<\/a> good to see you numbers out 30 minutes, ramifications with fed regented charles what do you think. I think 175, i am looking for more participation, last month, the last report we had participation was with a may having, particularly black american 3 230,000 came back into labor force still want to see yearoveryear wage growth 3 maybe 3. 3, 3. 4 that is numbers i am looking for, worried about manufacturing, of course, worried about strucconstruction goodsproducing jobs. Everybodys take coming up want to look at jobs in america from another standpoint the august jobs report is do a you out under 30 minutes, economists are expecting 1358,000 jobs, added to 158,000 jobs added chaerl expecting higher than that Unemployment Rate<\/a> expected to steady 3. 7 next guest hopes to see positive numbers they are working to encourage Technology Companies<\/a> to create jobs in Rural America<\/a>, joining me right now congresswoman along with Iowa Governor<\/a> kim reynolds good to have you both with us thanks for being here let me kick off with you tell me what you want to do in terms of rural jobs, across the country, created by tech . Well i have been very pleased to partner with Governor Reynolds<\/a> and local stakeholders in away we have had a number ofs sclav companies over scholarship a pathway for folks to get trained in Digital Marketing<\/a> Software Design<\/a> and be able to get jobs, and they are o going about to be able to stay in the communities they grew up in i really believe that jefferson iowa can be a model for the country, in showing how we can create a Technology Opportunity<\/a> in Rural America<\/a> about. You know it is interesting because youve got technology taking us forward certainly making our live better in so many ways there is also that worry about privacy right, just today, we are talking all about facial recognition for example, and you know, there are some colleagues on on that of ours, that are worried about things like the company that has that doorbell that you can see you know the camera, and amazon owns the doorbell Camera Company<\/a> facing questions from senator Edward Markey<\/a> over partnerships with ptsdz around the country, tracking citizens. No doubt technology can be abused i have put forward internet bill of rights to protect peoples privacy to make sure that technology isnt misused in engaging in profiling or discrimination but i think challenge of our time is to maximize the positive of technology to allow people access jobs that are going to have a technical component minimizing a harm. Maria governor where do you sit on this tell us the situation in iowa how Technology Companies<\/a> could create opportunities there. I am really excited about the dynamic project the opportunities that it provides for ira witness especially recural iowa i appreciate congressman and his involvement helping bring jobs, to Rural America<\/a>, i want to give a shoutout to going beyond urban centers taking this model into rural iowa we have a diverse growing economy one of the lowest Unemployment Rate<\/a>s in the country. And so this is an opportunity not only to make sure that we are seeing that success, that iowa is seeing, is happening all across our state and not just in pockets. And what i believe this model is an example that we can scale in Rural Communities<\/a> all across iowa and this country. Maria so we have been talking all morning about jobs report, we are going to get the numbers about 25 minutes, but one issue is that people need to be retrained, right . There is a skills gap going on over there, throughout the country. What do you want to say to people out there who you know maybe, maybe it is you know, a construction worker, at a truck driver dont know anything about coding dont know anything about some Technology New<\/a> you knowmilliondollar words that we are talking about how are they going to thrive . We want to make sure we have pipeline middle school and high school so we are training, our young people he to be adapted to lifelong learners but we have a program in iowa that we launched a couple years ago really it is implementing right now caused future ready iowa goal of having 70 i withstands in workforce education or training behind high school by year 2025 we put funding in to that to help not only with pipeline from k12 but to work with our adult learners to provide that support, system, to help them get the skills, to match them up with the job that we have available, in the state right now they see are great careers to help them be lifelong learners and i believe the hub like forge is an opportunity to serve a launchpad retrain help kids get the skills to fill jobs. Important thing. Happened all over the state. I think it is important point that you make about older workers, because, that is the group white collar too being behind in some regards, congressman let me ask you about antitrust vacations Texas Attorney<\/a> general to leadest in google incidentally advertising according to the wall street journal new yorkening to overseeing review of facebook permanent data concerns could expand to other companies what do you want to see in terms of regulation, on big tech, knowing that these companies are more powerful today than theyve ever been. I think we obviously, have to enforce antitrust lawmaker platforms are competitive are not privileging their own products we need to make sure we are innovative america leads the world in innovation our technology is far superior to any tech company, in europe. And our real competition is china. And so i want to make sure that we have strong antitrust enforcement but i nt with a to make sure america leads the world in technology a quick point, i think you are absolutely right maria that there are going to be jobs in all Different Industries<\/a> manufacturing construction logistics not everyone has to become a coder but going to need technology, are, skill, even in the industry that they may work in. Maria yeah, that is absolutely right the skills training is really important, at this moment in time. Does it bother you that google has a. I. Lab in china look this china fight with u. S. , is getting deeper retail giant target telling suppliers ahead of september the 1 tariff fight they have to pay for additional costs not examine consumers beijing feeling the tariff pinch report from tokyo Investment Bank<\/a> monura says vietnam south korea benefiting most. We know a pentagon projectman projecmaven an a. I. Lab in china is there any reason to remove china will try to dictate or meddle in u. S. Elections through google . Is that to me. Yes. Im okay. I think that is something we need to be mindful of we know that china has been a bad actor we need to hold them about about accountable what were trying to do important to sake seriously stay firm what were trying to o do with negotiations of china theft history bad roark actually property tangential transfer do have the of doing business our businesses are aware that have we need to hold them comfortable. I am wondering about google, control you heard peter thiel comments wrote oped said National Security<\/a> risk google has a. I. Lab in china what do you think about that . Any worry . Well i i agree with Governor Reynolds<\/a> an economy has been stealing intellectual property there is no doubt about that we we need to protect our most Sensitive Technology<\/a>, from going to china i dont think we ought to allow china access to more Sensitive Technology<\/a> we also need to do as a country is invest in the technology of the future Artificial Intelligence<\/a>. Are we doing enough that have. Make sure america misleads strierz of the future. China wants to be number one in the all those industries you wonder if we are doing enough great to have conversation with you both to see you both working together on very important project, thank you, good to see you both. Thank you. Thank you. Thank you have a good day dorian devastation high winds lifethreatening storms surging menaces carolina coast hundreds of thousands without power going to take you there live under 0 minutes away from august jobs reported breaking that down see if it is going to impact markets with highs of the morning up 18 now the dow. 118 now on you dthe dow stay with us. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options<\/a> for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights<\/a> . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions<\/a> are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria wrel well we are tracking Hurricane Dorian<\/a> the storm weakening to a category won now but still packing a punch as it churns off North Carolina<\/a> coast high winds downpours to thousands jeff flock live in south korea with the latest did i say that right joe . Is it you pronounced that right nice work that is not easy down here, the locals are very particular. So it is a small little fishing vigil this is characteristic of the damage behind me breaking news for you hatteras Cape Hatteras<\/a> in the eye of the storm if we take a look at radar, the track perhaps we can see that. This is not the technically constitute a landfall according to National Hurricane<\/a> center very center of the eye must go over land in order to call it a landfall so at this point we still dont have a landfall for Hurricane Dorian<\/a> but that category won storm lashing the coast up there, causing all kinds of havoc, although when said and done it appears because a lot of communities have already been in the eye, the kind damage you are going to see will be kind you see behind me essentially trees uprooted some signs knocked down nothing major catastrophic. So i think a positive story there. Of the landfall or the almost landfall of Hurricane Dorian<\/a>. Maria thank you so much jeff flock with incredible reporting, this whole week we are minutes away from august jobs report, everything you need to know ahead that have release when we come right back markets at high up 129 dow 14 points higher s p, nasdaq up 30 points back in a minute. Kevin, meet your father. Kevin Kevin Kevin Kevin<\/a> Kevin Kevin Kevin<\/a> Kevin Kevin Kevin<\/a> trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James<\/a> Financial Advisor<\/a> can do for you. 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<\/a> into one monthly payment. You can get your Interest Rate<\/a> right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. 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Maria welcome back, august jobs report due out 10 minutes time economists expecting it to show 15089,000 jobs 158,000 jobs in this august Unemployment Rate<\/a> steady 3. 7 allstar panel this morning, to break it down, chief warfare analyst Jane Courtney<\/a> with us knows exactly where jobs are wrooir for the wall street journal Jon Hilsenrath<\/a> knows exactly where rates are going, the former o the wall street Journal Editorial Board<\/a> member trumpnomics coauthor knows everything about economy Incredible Group<\/a> onset thanks for joining us, Stephanie Pomboy<\/a> let me ask you what is most important in this report from your standpoint so that i was ranting raving all last year how profits were goinging to into recession number one into announcement hiring decision lo and behold profits are in recession now, it wasnt great crystal ball that i had it that is the government profit numbers were walker than s p can when speaks to underlying weakness in the economy that has been this place long before all the tariff talk i think we are starting to see that impact you have seen a slowdown in growth and employment would not follow this in Profit Growth<\/a> i think that continues, i have no issue with 1 of 5,000 dollar 165,000 estimate, but i think just a continuation of this slowdown alongside the process slowdown. Jon hilsenrath are we going to see that slowdown in this report today do you think . The consensus estimate kind of points to a slowdown so i am going to be looking slick stephanie with overall headline number i think it is really important to look at how many hours employers are asking workers to work they dont want to let go of people because so hard to find them right now. But if you look for instance in Manufacturing Sector<\/a> we have seen a slowdown in overtime hours and i think if we see hours slowing down more that is a sign that more broadly some heat is coming out of this economy. Maria we are going to get that number in seven minutes president tw 2w50e9d on immigration what president just wrote daca will be going before the Supreme Court<\/a>, it is a document that even president obama didnt feel he had legal right to sign. He signed it anyway. Rest assured if Supreme Court<\/a> does what all says it must, based on the law you bipartisan deal will be made to the benefit of all writes president about daca a quick break, then august jobs report expert analysis right after this break stay with us. Guys, i want you to meet someone. This is jamie. Youre going to be seeing a lot more of him now. Im not calling him dad. Oh, nno. Look, [sighs] i get it. Some new guy comes in helping your mom bundle and save with progressive, but hey, were all in this together. Right, champ . Im getting more nuggets. How about some carrots . You dont want to ruin your dinner. Youre not my dad thats fair. Overstepped. Thats fair. If you build a truck tough enough to pull this much forward. You better make sure its smart enough to back it all up. 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. 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We are edward jones, a 97yearold firm built for right now. With one Financial Advisor<\/a> per office, were all about knowing whats important to you the one who matters. Edward jones. Its time for investing to feel individual. Welcome back, good friday morning thanks snouch for joining us. Im maria bartiromo, jobs friday, september 6 top stories right now 8 27 a. M. On, we are waiting for the august jobs report, due out two and one half minutes economists expecting 158,000 jobs, created in month of august Unemployment Rate<\/a> hold steady 3. futures higher go report take a look we are near we are at highs of the morning right here, dow futures up 126 points, the s p up 13 and one half nasdaq up 26. We are waiting on this number and we want to see what our incredible panel thinks about it your expectation what are you focused on. Looking at consensus number 160,000 jobs, good deal of attention to what jobs report is tlelg us about personal income do we get increase in wages, of the workweek lengthing suggests another healthy increase that will be a positive. For Consumer Spending<\/a>. Steve what are you focused on this morning. We find out maria this morning, whether that dread rrecord he r record i am talk being about recession if we get a healthy jobs report can put aside concerns about economy in negativity charles had it right one number i am focusing on is manufacturing, construction please maria tell us what that number is as soon as it comes out. Maria manufacturing number we got it what else dagen you look at wages also look at obviously, rates, and the Participation Rate<\/a> as well what is your most important. Dagen s expectings a wage growth still. still not close to 3. 4 fastest wage growth number so far this year if you get a tickup in wages say holding it 3. 2, 3. 3 that is still very solid puts money in pockets. Johnny courtney anything special you want to hear in this report. We need to look at revisions maria last month 164 we have averaged 165,000 first seven months of this year definitely looking at roigs wages, labor participation, about a lot to unpack this morning. Maria 158,000 estimate how important is this for Federal Reserve<\/a>, very quickly in a word or two. I think the fed is doing a quarter point next meeting doesnt really change. Going to watch what numbers are Edward Lawrence<\/a> at Labor Department<\/a> looking at the comoed emembargo odd release take it away. 130,000 jobs created in economy, last in august, 96,000 in private sector, about 28,000 in if Public Sector<\/a> deposit hiring 25,000 of those is the Unemployment Rate<\/a> 3. 7 a third month in a row at that rate, in june, the numbers revised down by 15,000 july also revised down by 5,000 so net revisions last two months down 20,000 jobs u6 ticked up to 7. long term unemployment 20. 6 average hourly wages up. 4 monthovermonth last 12 months up 3. 2 , now labor force Participation Rate<\/a> edging up 63. 2 , average hourly workweek, also up. 1 hour to 34. 4 hours, nonsupervisory wages rose 11 cents the white Unemployment Rate<\/a> 3. 4 black moiment rate historic low since keeping records in 972, 5. 5 , hispanic Unemployment Rate<\/a> 4. 2 asian Unemployment Rate<\/a> 2. 8 now health care, added 24,000 jobs that makes 392,000 jobs over the course of the last 12 months. The last time there was a decline, in health care, was five years ago, january of 2014. Manufacturing added 3,000 jobs, mining lost 6,000 jobs, retail lost 11,000 Jobs Construction<\/a> adding 14,000 jobs most of those construction jobs coming in residential or half of them 7,000 the rest sort of spread out headline 130,000 jobs created, Unemployment Rate<\/a> stays the same 3. 7 . Maria did you mention manufacturing jobs because that is something that that. 3,000. 3,000 went up ,000 jobs job growth slower than in 2018 averaging 6,000 jobs a month this year, where it was 22,000 jobs a month last year. Maria all right. Thank you so much Edward Lawrence<\/a> you wanted to hear about manufacturing your reaction to this . You know, this is pretty much right on target of what a lot of people were expecting, i am maybe a little bit disappointed the number wasnt higher still given the fact that so many economists have been saying that the American Economy<\/a> is headed to recession this report says no recession on the horizon at least for now. You know, i was very pleased about that, manufacturing number because as i know last minute we had negative Manufacturing Activity<\/a> so at least there is still hiring, i was a little surprised maria i think he said that the retail hiring had fallen the retailers have been doing really well consumer carrying economy one quick point, we underestimate how stimulative low under thes are the fact that you have got construction, doing well, and housing, is an indication, that people can refinance now afford houses more 0 year morning 3 1 2 positive for xh i. Look at wages up 3. charles reaction. Let me tell you i give this a b plus, and i will tell you why participation is up and unemployment is down from like i cant wait to see if more black americans came into the labor force historical low that would be great especially if more people join labor force, wage part of this yesterday landsin up 22 cigna up 27 g3 up 22 this morning, Genesco Johnson<\/a> and murphy, lululemon from 5 to 15 American Consumer<\/a> be surprised about retail that is brickandmortar signed of the business right doesnt have anything to do with consumer out there, that is why retailer spots going through roof i feel sorry for anyone that sold them a at a loss because waiting for the tariffs. Dont forget july payrolls revised upwards johnny you wanted to see revisions this has to be good right . July slightly down but i will say revision in july was down . Yes, revision in july and in june both down i think for net 20,000. But overall we did see in this report, that the highs of the employed population grew by 590,000 people. That is a huge number we have not seen that many people come back into the workforce, so it kind of goes along with Consumer Spending<\/a>s consumer snement worker feeling like it is a good time to participate in this economy. And were seeing that in wages, as well so even though this headline number of only 96,000 in private sector is not that strong, all the other details in this report are very, very positive. Maria yet it is the slowdown it is lower than we thought stephanie. I think 96,000 the number to focus on, and i think that is extremely disappointing, i think the headline 130 kind of interesting because if you look at the Household Survey<\/a> versus Payroll Survey<\/a> the Household Survey<\/a> is actually averageed 130,000 over the last 12 months whereas pay patrol survey averaged 90,000 so we are seeing resolution that of gap you do normally see Household Survey<\/a> tends to lead i go back to profits, i think that the idea that the profit recession that were seeing now is temporary, and strictly a function of the trade war, is going to be proven false we should expect to see a continuation in the deterioration of profits and, therefore, a continued slowdown in these employment numbers Going Forward<\/a>. John johnny you mentioned roichths where can you tell us Job Opportunities<\/a> are right now. When you look at this report about every sector did add some type of job with the exception of you know retail lost 11,000 mining i think a very small loss in utilities. What i was very interested in digging into this that the temporary sector usually a leading indicator, of a recession if we see that employers are letting temporary workers go that would show some softening it actually jumped up to 15,000 jobs created this month but, you know, jobs are in health care, the professional Business Service<\/a> sector, technology, you know still tremendous need in developers, analysts, and services as well i am a little i am a little struck by this decline in retail jobs, because this is the area that has been strong. Yeah, but these are brickandmortar retail jobs being replaced by warehouse jobs by the way. Maria you this i this is a measure of bifurcation in retail sector. Not only this this is Second Lowest<\/a> paying there is leisure only one pays less we want people out of low paying jobs into higher paying warehouse jobs where transition is happening. The softness in this economy has been Manufacturing Activity<\/a>, and this this is evident of that 3,000 jobs created slowing number of jobs in terms of average over last three months average payroll growth, was 156,000 the average per month in 8 years since jobs started growing 190,000 so you dont have to fear a recession we surely see an economy looking false clearly there has been a slowdown in manufacturing, no question about it. But, you know, it it is still goes back to trade deal i mean if you get the trade deal done, sometime in next few months we all have fingers crossed that happens, you have going to see explosion of manufacturing construction jobs and stock market going to you know women art laffer 5,000 point rise in dow once that deal gets done. So much what is going on the economy business are anticipating in my opinion is tied o to china trade you are betting on a deal that happens how do we know it happens is china going to all of a sudden get religion on theft intellectual property . I still am putting odds 60 we get a deal sometime net next six mince probably because it has been china getting what could by tariffs killed by this in economic selfinterest to get a deal down. Dagen factor in steve entire Global Economy<\/a> slowing not just u. S. That is true. Dagen in terms of the sovtness in manufacturing 40 revenue for s p 500 comes from, it is it is more than half, for a Technology Companies<\/a> so in terms of predicting an explosion of to upside in manufacturing, you got to temper that a little bit given the backdrop of the entire globe not just china. Maria Jon Hilsenrath<\/a> jump . One thing about that you are right absolutely right but a trade deal with china you got two biggest economies in the world if they come to revolution benefits everybody around the world. Any reason to believe a resolution is at hand . I mean it is impossible to tell because because the ball is in beijings court what chinese leader are going to do. Is it a resolution if equity market weakens more troubling news on economy disappointments with about about the profitability corporate revenues President Trump<\/a> has one choice make a deal if simply saving face. He told us was adamant about seven sins whatever chiep is doing manipulating occurrence stealing, forcing transfer of technology, et cetera, et cetera et cetera, a deal without those things i dont know. The political riv might be most reduced by covering up with some sort of deal, you know on the Positive Side<\/a> we still have a historically low Unemployment Rate<\/a>, 7 that is good however as stan mentioned if you continue to generator fury than 00,000 ensue jobs in private sector for several more months you are going to see Unemployment Rate<\/a> begin to rise sad to say historically every time Unemployment Rate<\/a> rises by what is it a quarter of a percentage point from a year ago you are either in a recession or you are about to slip into one. Maria Jon Hilsenrath<\/a> jump in here. I say thee things brieled numbe consistent with economy slowing down not pleasant thing two a lot of talk on panel, about trade, you know i think worth pointings out as we get closer to election, chinese gain leverage on getting a deal, because the president wants to get the economy faster. Third thing i point out to everybody is the president is tweeting while we are talking, about the fed the fed is going to be his punching bag on this, he asked in a tweet this just a few minutes ago where, did i ginneded this guy Jerome Powell<\/a> going to blame fed for slowdown nevertheless we reported a quarter point Interest Rate<\/a> cut later this month, you know, a lot of people some people want the fed to do a half point, i dont think there is enough in this data to convince them toll a half. Look at, on what is happening with price, i mean the fed should be cutting rates by 50 base spoipts should have done it yesterday way behind curve i am about trump on this a major factor in slowdown fed created the inflationary environment from prices of oil, corn commodities are falling, below inflation target we need to inject more dollar liquid in the economy would have one thing would i say to that the Inflation Numbers<\/a> have been running below fed 2 target for many years, now, they have actually firmed a little bit over the last few months if you look at yesterdays revision to productivity numbers unit labor costs going up, there is strengthening a bit, a little bit complicated right now. Market dips when for thes first came out back to highs Kristina Partsinevelos<\/a> on floor of the New York Stock Exchange<\/a> watching early radiation to jobs report on the floor. That is stall right what you saw is you saw headline came in much lower than expected 130,000 jobs add once people pacse through information you saw futures climb higher dow up 32 points s p over 15 nasdaq up almost 35 points, we are talking about average not including this month u. S. On average 42019 created 165,000 jobs, that is a little bit lower than last year as we know slowing down last year, the pace 223,000, i want to focus on good nice i know talking about strength in consumer charles alluded to that dagen as well uhad a only has to create roughly 100,000 jobs to soak up knew people entering the labor force across the board talking about markets originally i thought we are Checking Technology<\/a> sector because of strength in technology because strength in health care but those sectors right now around the doing as well technology, separate reasons the weight of facebook weighing down overall dow futures roughly same spot where we were prior to the jobs report, at around 8 30 a. M. Eastern time. Thank you. Can i ask Jon Hilsenrath<\/a>s a question because we kauk about the bounceback in business spending, boom hiring if a trade deal gets done. Do businesses really operate like that . Well, i mean i think what businesses dealing with right now is just a lot of uncertainty. So what happens tomorrow, if the president and xi say we have a deal you know i think after all the backandforth the last couple years you have to look at that with some measure of caution about whether what actually end up getting signed sealed delivered whether chinese follow through on it, so you know i think we banksed a lot of uncertainty into Corporate Board<\/a> rooms for at least next 12 p months. Maria because they dont change direction on a dime, it takes a bit of time there. Jon i know i find the markets i find the markets reaction yesterday to these talks being on again, to be kind of puzzling they are onagain, offagain all the time. So you know, for me looks like more uncertainty. We are going to take a short break then come back jon i know youve got a 45 we thank you for conversation joer on jobs report after break Stuart Varney<\/a> will weigh in stephanie and charles have a lot to say First Special<\/a> update from tennis channel. Welcome back another court report fox business i am dani, Serena Williams<\/a> one win away from equaling alltime record at slam reaching tenth final. S open this morning three time major champion off the court in the opening semifinals serena fires quick aces, on away to 10 as it victory in new york tying Chris Everett<\/a> for most wins at american slam will face if the championship match canadian fought back from 52 in second set. Beat serena previous meeting in toronto last month. You can watch the mens semis on tennis channel coverage starts friday u pm earn for correspondent report i am dani. Liberty mutual customizes your Car Insurance<\/a>, so you only pay for what you need. I wish i could shake your hand. Granted. 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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. Maria welcome back august jobs report out the economy added 130,000 jobs in month of august, that missed expectations Unemployment Rate<\/a> Holding Steady<\/a> 3. 7 51year low joining us the host of Varney Company<\/a> Stuart Varney<\/a> to weigh in good morning, stu. Good morning, maria. Let me make three points, number one, i think this is very modest job growth in a slowing economy that has been affected by uncertainty of china trade. Number two, the Participation Rate<\/a> went up nicely in fact, it is up a half point in the last year, doesnt sound like much but a lot of people pulled back into the labor force number three, the Unemployment Rate<\/a> for black folks 5. 5 , that is the lowest ever recorded. That is what i have got to say that is how i would wrap it up. We still have growth so that is an important point, everybody is so many people are talking about recession out there weve got a growing economy, albeit a Slower Growth<\/a> story, markets have come off the highs stuart see you 10 minutes i know you have a lot more on a this this morning Varney Company<\/a> 9 a. M. Earn top a of the hour join stavrt come up first the market has come in charles now looking rat rally but up 93 points. We are 2 off the alltime high you know, nim this to make money. Okay . I think most viewers are in this to make money we can pontificate all the time the economy is cycle some point going to hit alltime low Unemployment Rate<\/a> start to edge back higher, my big concern how many people have missed out the on this rally i have been brought up to retailers because retailers have 25 one day people sold stocks at a loss listening to the experts, you know the market likes this news it is amazing, 590,000 americans come back into labor force wages are going up, i like where we are tend is near somewhere, but i will let that happen when it happens meantime i think you know what continue to make money in stock market particularly now, as broaden out financials might take over leadership, Bank Earnings<\/a> last quarter record alltime record so we are doing pretty good. Maria i want to know from you guys what do you think low rates are going to mean for the economy in the next six months . Are these rockbottom rates going to spur something stephanie we had 49 Corporate Bond<\/a> deals done in the last 30 hours, okay, 74 billion dollars, raised, so far, in terms of Corporate Companies<\/a> borrowing 74 billion u. S. Investment grade bond market this week alone so they are taking advantage of rockbottom rates is it going to stimulate consumers. This is going to be my point i think trump is absolutely right. That the tariff the trade war, is an exacerbating factor but primary reason for slowdown in the economy is the fed and the fact they tightened starting 2015 did qt starting 207 if you look at peak in profits was 205, peak in discretionary Consumer Spending<\/a> 2015 walmart one might have recession indicators started outperform s p 20150 when fed started raising rates up one hundred percent over that time the s p is up 40, it is massively out performing s p always been a recession signal in the past trump is right. People feeling squeezed go to they have to trade down, the question is do the lower rates like you just asked, have now that fed is cutting rates reversing mistake it made is it sufficient is it going to do the job . And the problem is that if you look at the reresponseiveness house market you are not seeing real response to collapse no Mortgage Rates<\/a> we have had six consecutive quarters housing detracted from gdp ten of last 12 quarters oi i think that the fed waited too long tightened to a far now too much to a little too late. Steve you know, the frenzy not going to let up on corporate side youve got 50 billion dollars, he projected for the rest of the month activity spilling to jumping bodies, leveraged alones as well 16 trillion bonds in europe and asia are paying negative yields right now. That is why, look, you know i just disagree with jon, there is no inflation whatever not a whiff there is deflation why bond rates are so low my goodness who would apply a 30 year bond at 2 Interest Rate<\/a> most insane apply out there the reason is why do you have a flattened some cases negative yield about curve people are worried about prices falling, not rising so i do i completely agree with stephanie i think fed way behind the curve, one other quick point i think we should be you know given the fact that employers are literally running out of workers, i think this 00,000 or so jobs a month is kind of a new normal because employers cant find the workers they need to fill the jobs. You know i think important to note that all this recent equity market volatility nobody mentioned two terrible words credit crunch with the latest surge by Investment Grade<\/a> bond issuance moving into high yield that tells me u. S. Economy is remaining safely distanced from credit crunch we will have more than enough financial systemic liquidity money will be plentiful may do trick of keeping us safely distanced from a recession, from a deep and lasting drop in equity prices. Maria yeah we were expecting things to slow down right, i mean with the trade uncertainty we saw it in capex in this manufacturing and housing Johnny Courtney<\/a> final word from you i think you are right maria manufacturing indefinitely a slowness if you look at overall picture of job market there is over seven million open jobs to steves point many of these jobs are going unfilled because employers cannot find workers we have seen that in many studies so that will also cause a slowness a lot of different factors there, but overagreat opportunities wages moving does impact corporate profits as we see will slow things down as well a strong market coming out end of september johne Courtney Stephen<\/a> moore good to see you a short break frienl thoughts from this allstar panel on set. Stay with us. Thats why, your cash automatically goes into a Money Market Fund<\/a> when you open a new account. And fidelitys rate is higher than etrades, td ameritrades, even 10 times more than schwabs. Plus only fidelity has zero account fees and zero minimums for retail brokerage and retirement accounts. Just another reminder of the value youll only find at fidelity. Open an account today. Youll only find at fidelity. 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. At synchrony, were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options<\/a> for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights<\/a> . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions<\/a> are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Weve got a jampacked show on monday the founder of pa johns here join me in his first interview since stepping down as chairman and ceo of papa johns exclues there to talk trade and economy thanks to great panel today. Have a great weekend lets get right to stuart and company. This is what the market wanted. Moderate job growth so the fed wont hesitate to cut rates. This is what we got. 130,000 new jobs. Unemployment rate stays the same 3. 7. Wages up 3. 2 over last year. Ill characterize this job report as follows very modest job growth solid wage gain and for africanamericans ever recorded 5. 5 . Larry kuld low is on the show later well see what hes got","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia801002.us.archive.org\/28\/items\/FBC_20190906_100000_Mornings_With_Maria_Bartiromo\/FBC_20190906_100000_Mornings_With_Maria_Bartiromo.thumbs\/FBC_20190906_100000_Mornings_With_Maria_Bartiromo_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}