Transcripts For FBC Mornings With Maria Bartiromo 20240713 :

Maria joining joining the convn fox business Dagen Mcdowell. Wall street journal assistant page editor james freeman, great to see everybody today. Great to be here. Maria we have the jobs number in 3 and a half hours. Dagen tweet get away last night. Jobs friday. Dagen we root for the american economy. Maria this week the kickoff to the Fourth Quarter, tough one for the economy and for the markets certainly dow industrials this morning looking down about 88 points, s p down 10 and nasdaq down 28, major averages on track since the worst week in august, investors waiting on jobs report, the expectations call for 125,000 jobs to have been added to the economy in the month of september with tun employment rate Holding Steady at 3. 7 , we are looking at this week that was tough because of manufacturing, ism data, the Manufacturing Sector weakening, but lets not forget this market is pretty close to alltime high. I think its 23 where it closed on christmas eve, 2018, as far as the job report is concerned, well, im not that optimistic, i think we might do well to hit consensus forecast, 145,000 new jobs, of course, the s p 500, per share has shrugged year over year. Maria we will see, we know cap x has shroud and if cap x has slowed, james, the next thing we want to look are Companies Holding back on the hiring. Itll be interesting not just to see what the number is but to try and the why it is what it is. Survey came out yesterday on Small Businesses, what it showed slower hiring, since august, slower since the start of the year but the data suggest its not because companies are all of a sudden afraid and dont have business coming in the door, its just this lack of workers that has been particularly acute in Small Business and as we look the larger economy wide number today, i think one thing will be interesting is an industry like construction where theres a real worker shortage, if thats allow a low number, they afraid to pull the trigger on deals. Dagen there have been layoffs in lumber which the wall street journal has written about, industries that have been very hard hit between trade fight not just with china but also with the european union, exports of lumber, for example, have fallen off the cliff and there have been layoffs in the sector. Again, its a showndown. Theres a lot of hope in the market yesterday on the Federal Reserve ramping up Interest Rate cuts and somehow ride to the rescue on this, i will point out with the ism nonManufacturing Index, it was still expanding but it was its now lower than it was before 2001 recession equal to 2007, it was lower just much during current expansion and that was because of weather back in 2017. Youre talk about lumber, house sales are rising, in fact, we find theres a phl index of housing sector shared prices, thats up roughly 40 year to date. I want to add the real question right now if we are worried about recession, well, its okay if companies arent hiring that money but worried that companies are beginning to fire, thats where we pay a lot of attention in unemployment. Dagen the economy needs to add 100,000 new months to sustain a healthy labor market, a hundred thousand is doable. Maria a year and a half hag we were talking about 250,000 months by the way and now talking about 145,000, we have a letter from Kevin Mccarthy to nancy pelosi. The white house is sending a letter to the speaker later today daring her to hold Impeachment Vote the president not holding back yesterday urging another family probe, watch this. China should start an investigation into the bidens because what happened in china is just about as bad as what happened with with ukraine. Maria of course, hes referring to the story that hunter biden traveled on air force 2 with joe biden when he was then a sitting Vice President. When they came back, Hunter Bidens Company Received 1. 5 billion from the bank of china which state owned, that means the government of china gave hunter biden 1 and a half Million Dollars, Kevin Mccarthy sends letter to nancy pelosi, im writing that you suspend efforts of impeachment inquiry, he wants a house vote. Thats how it has always been and thats the way it should be. Questions about allowing republicans to ask questions, along with democrats when they bring in witnesses, another custom that seems to have been cast aside. I dont think hunter biden deserve it is chinese judicial system but i think this is this is kind of a maybe puzzle for people because if youre bothered by this from President Trump, you must also be bothered by democratic efforts in 2016 to use foreign relationships to to prevent him from becoming president or then to impeach him, but theres a positive here in that i think its its good for u. S. Political leader to say this biden model, its really the clinton model, its not how we should be doing business, a relative on the plane or close behind with their handout after the policy maker has done business in a foreign country, so i think if this custom, new custom that the clintons innovated ends now, that would be wonderful. Innovated is a way to put it. Youre right, by the way, we know china does this, right . China buys influence, lets remember what happened with anthony scaramucci, by the way, they were going the buy his company until he was fired and then it was like crickets. Dagen clearly the giants were trying to get ahead of this with this, hunter biden was asked, what about the diamond that you got from energy tycoon, according to your wifes divorce complaint it was worth 80,000, where is that, was that a bribe and hunter biden said, no, its not a bribe, my father wasnt the Vice President at the time but, again, any time diamonds are exchanging hands, just on the surface it looks bad and joe biden was going to run for the presidency or run for the nomination, you didnt ever stop and tell your son, you need to stop doing business with these nations, with these organizations, really quickly, i need to tell people why why the republicans, why the white house are sending this letter. It goes back to the power to what if the power that the democrats have in conducting this impeachment proceeding, bill mcgurn wrote about it earlier in the week, official impeachment proceeding comes to power and allows congress to compel documents a president might otherwise withhold from normal oversight and they also want, its not just the ability to question witnesses, it is the power of the subpoena that in two previous modernday impeachment proceedings with both nixon and with clinton the opposite side or the Minority Party also had subpoena power. With nixon and clinton, with nixon it was democrats and the republicans and the democrats and the republicans and democrats had subpoena power and in both of the instances the entire house vote today proceed and the democrats are trying to their cake and eat it too. Maria theres a double standard when it comes to donald trump, its okay that his campaign was wiretapped and listened to. Remember, its donald trump, its okay. In the whole impeachment process, its not the way its normally done, oh, well, its donald trump. A problem that inflicts a lot of colleagues in the media as well, a decision, some explicit in 2016, this is a different kind of candidate, different kind of threat to the political system. Maria be sure to tune in for jobs day coverage, all hands on deck identifying where the jobs are, join us for that coming up, meanwhile we are looking at markets and we are turning our attention to hong kong,en rest is deepening, a facemask ban meant to slow the protests down having the opposite affect, delta accused of not buying made in america planes, back in a minute Liberty Mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. There are things we would change about work. And there are things we wouldnt. When work is worth it. Work is worth it. Work can be closer to home. Pay more. Make us proud. Careerbuilder. Work can work. Find your work at careerbuilder. Com carl, i appreciate the invite here. As my broker, what am i paying you to manage my money . Its racquetball time. thumps ugh carl, does your firm offer a satisfaction guarantee . Like schwab does. Guarantee . splash carl, can you remind me what youve invested my money in . Its complicated. Are you asking enough questions about the way your wealth is being managed . If not, talk to schwab. A modern approach to Wealth Management. Maria welcome back, government of hong kong taking a harder line against prodemocracy protestors, Cheryl Casone be. The details. Cheryl four months of protests, facemasks at public demonstrations will be banned, that start midnight tonight, protests have been using masks to hide faces from police, four months of demonstrations, extradition bill that was the initial reason for those demonstrations, that bill has been withdrawn, obviously the violence has continued, any violence faces fine of more than 3,000 u. S. Dollars and could spend a year in jail, well, 2 years after the mass shooting at Country Music festival in las vegas, mgm resort reached huge financial settlement with the victims, could go as high as 800 million, Third Largest Victims Compensation fund ever. 58 people were killed, many wounded outside of mgm resorts, mandalay casino and deadliest mass shooting in modern american history. Delta airlines is pushing back against accusations made by white house trade adviser Peter Navarro that the company is not buying American Made planes. Every single plane in deltas arsenal is an air bus, they dont buy american, but when they buy air bus over the last 15 years, heavily subsidized, its unfair advantage over american and united and others and so delta, what delta needs to do is recognize this is a buy american administration. Okay, so after the interview, maria, delta issued a statement, delta is proud to be one of the largest boeing customers in the world, our main line fleet is nearly 70 boeing aircraft, 613 boeing jets fly for delta every day, recently completed latest order of 130 boeing 737 er jets, investors looking over mixed results for of courseos latest quarter, earnings beating expectations, cosco also took tax related charge, shares up nearly 42 so far this year, cosco great place to go for lunch. [laughter] cheryl that rebuttal from delta coming really pretty quickly after inter. Maria they never took delivery, never took max jets and thats what peter was referring to. They have boeing jets. Dagen Peter Navarro is not the president of the United States, stop handling companies, especially one that buys american. Maria henry shine, ceo to discuss that, disappointing halloween haul, find out which halloween candy is americas least favorite. Maria health care in america, President Trump signed order to advance medicare plans, the directive includes telehealth services, new treatments and fewer regulations. We are making your medicare even better and we are not letting anyone, it will never be taken away from you, we will not let anyone get close. [cheers and applause] you see these people on the other side, these people are crazy, by the way, they are totally crazy, but they want to take it away and give you lousy health care. Maria joining us right now to weigh in is the ceo of henry shine, stanley burkeman, your reaction to the president s plan . Good to be with you, maria, we need to ensure that every american has medical insurance in one way or another, medicare has worked however many efficiencies including the notion that we are not preventing people from getting sick, we are taking care of people when they are getting sick, much more prevention, wellness, cardiac cancer, dental care, we need to make sure that people stay out of the hospital, that people are taken cape of through primary care physicians and i think the private sector needs to play a key role in advancing health care in the United States. Maria dagen how do you do that, i think insurance funds run out of money in 7 years, i think the benefits would fall, they could pay out tax revenue, i think 80, 89 cents on the dollar, again, because youre talking about something that does involve personal responsibility and i dont know how a government does this. Well, the key is over half of expenditure and 18 gdp the noncommunicable diseases, we can prevent people from getting sick and people take responsibility for that and if we do that, if are kept out of the hospital, we will ensure that theres plenty of resources for all to provide adequate coverage, having said that, we need to prevent people from getting sick and you know, government has a role in taxation, if you buy a pack of cigarettes in new york city, what is it 10, 12 bucks. Pardon . Maria its that much . Weve had quite a reduction in smoking because of that and i cant help but think that if we increase other taxes on alcoholic beverages and expand the notion of taxes, amount of sugar and salt in processed foods that too may help people dagen james freemans head will explode, you advocated taxing for all fat food. Happy hour tax which is beyond the pail for Many Americans but im curious. You operate in both the healthcare sector heavily government regulated and the dental sector traditionally really a free market. Yes. Are there things we can learn from free market and dentistry to apply to the government dominated market in health care . We know that people take care of their teeth, live healthier and longer life, our job to educate the population, the public on the importance of eventing illness preventing illness, its not going to occur through taxation or any other way other than making sure that the American Public that if you take care of your teeth, if you exercise more, if you eat less, if you stop smoking, you will live a better life. Are people because something about the structure of the dental market, more likely to take care of their teeth and exercise and avoid a bad diet, et cetera . 60 of the people see a dentist and 40 do not, we still have a big challenge in dentistry, having said that, those who go to the dentist, high correlation between good oral care and health care. Maria youre facing competition all over from brick and mortar to online, how are things going and where is the growth coming from . We dont mind how you see a dentist, whether its in a Walmart Store or in a privatesector environment. Maria you affirmed a fullyear guidance last month in terms of overall earnings and we know that the dental area has been competitive for you, what are you going to do about it and where does the growth come from . The growth comes from providing, maria, more valueadded services, to help dentists, physicians operate more efficient so that our customers are positioned to provide, well, great clinical care, they are doing that, they need to help with efficiencies in the markets place and we are doing just that and thats helping us feel our growth. Maria i got personality responsibility, you made many great points for from taking care of your teeth. Ceo of henry shine. When we come back double dare, President Trump is challenging Speaker Nancy Pelosi over impeachment as the white house prepares a formal objection to the inquiry and the congress sent a letter to the speaker, theyve been trading letters back and forth, Kevin Mccarthy and nancy pelosi, facebook in the hot seat, Ceo Mark Zuckerberg being pressured to put the pressure on message encryption, see who is doing that, stay with us. Sometimes, they just drop in. Obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Maria im maria bartiromo, it is friday october 4th, your top stories right now 6 30 a. M. On the east coast, jobs in america this morning, waiting on septembers jobs number, out in 2hours time, we are expecting jobs added to the economy, dow futures indicating a decline of 75 points, s p is down 10 and nasdaq lower by 24, this on top of a big rally at tend of the day yesterday, a volatile day but when all said and done markets with incredible reversal and we had weak reading on Services Sector that raised the odds on Federal Reserve, dow industrials up 142 points on wall street journal, s p up 23 and nasdaq up 87, Global Markets look like this, european indices are mixed. The dax index in germany after holiday yesterday down 5 points. In asia overnight, markets were mixed there as well, shanghai composite closed, of course, as china celebrates 70 years of communist rule, golden week in china, hong kong was down better than 1 , facebook under fire this morning, attorney general bill barr stopped encryption from messaging. Trick or bad treat, find out what was named americas least favorite holiday candy coming up friday morning, first this half an hour, ukraine fallout, President Trump prepare to go send a letter to house Speaker Nancy Pelosi, daring her to hold a vote on the impeachment inquiry, this this as the white house says its prepare to go formerly object to Democrat Impeachment inquiry since it was announced with house vote, Dagen Mcdowell<\/a>. Wall street journal assistant page editor james freeman, great to see everybody today. Great to be here. Maria we have the jobs number in 3 and a half hours. Dagen tweet get away last night. Jobs friday. Dagen we root for the american economy. Maria this week the kickoff to the Fourth Quarter<\/a>, tough one for the economy and for the markets certainly dow industrials this morning looking down about 88 points, s p down 10 and nasdaq down 28, major averages on track since the worst week in august, investors waiting on jobs report, the expectations call for 125,000 jobs to have been added to the economy in the month of september with tun employment rate Holding Steady<\/a> at 3. 7 , we are looking at this week that was tough because of manufacturing, ism data, the Manufacturing Sector<\/a> weakening, but lets not forget this market is pretty close to alltime high. I think its 23 where it closed on christmas eve, 2018, as far as the job report is concerned, well, im not that optimistic, i think we might do well to hit consensus forecast, 145,000 new jobs, of course, the s p 500, per share has shrugged year over year. Maria we will see, we know cap x has shroud and if cap x has slowed, james, the next thing we want to look are Companies Holding<\/a> back on the hiring. Itll be interesting not just to see what the number is but to try and the why it is what it is. Survey came out yesterday on Small Business<\/a>es, what it showed slower hiring, since august, slower since the start of the year but the data suggest its not because companies are all of a sudden afraid and dont have business coming in the door, its just this lack of workers that has been particularly acute in Small Business<\/a> and as we look the larger economy wide number today, i think one thing will be interesting is an industry like construction where theres a real worker shortage, if thats allow a low number, they afraid to pull the trigger on deals. Dagen there have been layoffs in lumber which the wall street journal has written about, industries that have been very hard hit between trade fight not just with china but also with the european union, exports of lumber, for example, have fallen off the cliff and there have been layoffs in the sector. Again, its a showndown. Theres a lot of hope in the market yesterday on the Federal Reserve<\/a> ramping up Interest Rate<\/a> cuts and somehow ride to the rescue on this, i will point out with the ism nonManufacturing Index<\/a>, it was still expanding but it was its now lower than it was before 2001 recession equal to 2007, it was lower just much during current expansion and that was because of weather back in 2017. Youre talk about lumber, house sales are rising, in fact, we find theres a phl index of housing sector shared prices, thats up roughly 40 year to date. I want to add the real question right now if we are worried about recession, well, its okay if companies arent hiring that money but worried that companies are beginning to fire, thats where we pay a lot of attention in unemployment. Dagen the economy needs to add 100,000 new months to sustain a healthy labor market, a hundred thousand is doable. Maria a year and a half hag we were talking about 250,000 months by the way and now talking about 145,000, we have a letter from Kevin Mccarthy<\/a> to nancy pelosi. The white house is sending a letter to the speaker later today daring her to hold Impeachment Vote<\/a> the president not holding back yesterday urging another family probe, watch this. China should start an investigation into the bidens because what happened in china is just about as bad as what happened with with ukraine. Maria of course, hes referring to the story that hunter biden traveled on air force 2 with joe biden when he was then a sitting Vice President<\/a>. When they came back, Hunter Bidens<\/a> Company Received<\/a> 1. 5 billion from the bank of china which state owned, that means the government of china gave hunter biden 1 and a half Million Dollar<\/a>s, Kevin Mccarthy<\/a> sends letter to nancy pelosi, im writing that you suspend efforts of impeachment inquiry, he wants a house vote. Thats how it has always been and thats the way it should be. Questions about allowing republicans to ask questions, along with democrats when they bring in witnesses, another custom that seems to have been cast aside. I dont think hunter biden deserve it is chinese judicial system but i think this is this is kind of a maybe puzzle for people because if youre bothered by this from President Trump<\/a>, you must also be bothered by democratic efforts in 2016 to use foreign relationships to to prevent him from becoming president or then to impeach him, but theres a positive here in that i think its its good for u. S. Political leader to say this biden model, its really the clinton model, its not how we should be doing business, a relative on the plane or close behind with their handout after the policy maker has done business in a foreign country, so i think if this custom, new custom that the clintons innovated ends now, that would be wonderful. Innovated is a way to put it. Youre right, by the way, we know china does this, right . China buys influence, lets remember what happened with anthony scaramucci, by the way, they were going the buy his company until he was fired and then it was like crickets. Dagen clearly the giants were trying to get ahead of this with this, hunter biden was asked, what about the diamond that you got from energy tycoon, according to your wifes divorce complaint it was worth 80,000, where is that, was that a bribe and hunter biden said, no, its not a bribe, my father wasnt the Vice President<\/a> at the time but, again, any time diamonds are exchanging hands, just on the surface it looks bad and joe biden was going to run for the presidency or run for the nomination, you didnt ever stop and tell your son, you need to stop doing business with these nations, with these organizations, really quickly, i need to tell people why why the republicans, why the white house are sending this letter. It goes back to the power to what if the power that the democrats have in conducting this impeachment proceeding, bill mcgurn wrote about it earlier in the week, official impeachment proceeding comes to power and allows congress to compel documents a president might otherwise withhold from normal oversight and they also want, its not just the ability to question witnesses, it is the power of the subpoena that in two previous modernday impeachment proceedings with both nixon and with clinton the opposite side or the Minority Party<\/a> also had subpoena power. With nixon and clinton, with nixon it was democrats and the republicans and the democrats and the republicans and democrats had subpoena power and in both of the instances the entire house vote today proceed and the democrats are trying to their cake and eat it too. Maria theres a double standard when it comes to donald trump, its okay that his campaign was wiretapped and listened to. Remember, its donald trump, its okay. In the whole impeachment process, its not the way its normally done, oh, well, its donald trump. A problem that inflicts a lot of colleagues in the media as well, a decision, some explicit in 2016, this is a different kind of candidate, different kind of threat to the political system. Maria be sure to tune in for jobs day coverage, all hands on deck identifying where the jobs are, join us for that coming up, meanwhile we are looking at markets and we are turning our attention to hong kong,en rest is deepening, a facemask ban meant to slow the protests down having the opposite affect, delta accused of not buying made in america planes, back in a minute Liberty Mutual<\/a> customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. There are things we would change about work. And there are things we wouldnt. When work is worth it. Work is worth it. Work can be closer to home. Pay more. Make us proud. Careerbuilder. Work can work. Find your work at careerbuilder. Com carl, i appreciate the invite here. As my broker, what am i paying you to manage my money . Its racquetball time. thumps ugh carl, does your firm offer a satisfaction guarantee . Like schwab does. Guarantee . splash carl, can you remind me what youve invested my money in . Its complicated. Are you asking enough questions about the way your wealth is being managed . If not, talk to schwab. A modern approach to Wealth Management<\/a>. Maria welcome back, government of hong kong taking a harder line against prodemocracy protestors, Cheryl Casone<\/a> be. The details. Cheryl four months of protests, facemasks at public demonstrations will be banned, that start midnight tonight, protests have been using masks to hide faces from police, four months of demonstrations, extradition bill that was the initial reason for those demonstrations, that bill has been withdrawn, obviously the violence has continued, any violence faces fine of more than 3,000 u. S. Dollars and could spend a year in jail, well, 2 years after the mass shooting at Country Music<\/a> festival in las vegas, mgm resort reached huge financial settlement with the victims, could go as high as 800 million, Third Largest<\/a> Victims Compensation<\/a> fund ever. 58 people were killed, many wounded outside of mgm resorts, mandalay casino and deadliest mass shooting in modern american history. Delta airlines is pushing back against accusations made by white house trade adviser Peter Navarro<\/a> that the company is not buying American Made<\/a> planes. Every single plane in deltas arsenal is an air bus, they dont buy american, but when they buy air bus over the last 15 years, heavily subsidized, its unfair advantage over american and united and others and so delta, what delta needs to do is recognize this is a buy american administration. Okay, so after the interview, maria, delta issued a statement, delta is proud to be one of the largest boeing customers in the world, our main line fleet is nearly 70 boeing aircraft, 613 boeing jets fly for delta every day, recently completed latest order of 130 boeing 737 er jets, investors looking over mixed results for of courseos latest quarter, earnings beating expectations, cosco also took tax related charge, shares up nearly 42 so far this year, cosco great place to go for lunch. [laughter] cheryl that rebuttal from delta coming really pretty quickly after inter. Maria they never took delivery, never took max jets and thats what peter was referring to. They have boeing jets. Dagen Peter Navarro<\/a> is not the president of the United States<\/a>, stop handling companies, especially one that buys american. Maria henry shine, ceo to discuss that, disappointing halloween haul, find out which halloween candy is americas least favorite. Maria health care in america, President Trump<\/a> signed order to advance medicare plans, the directive includes telehealth services, new treatments and fewer regulations. We are making your medicare even better and we are not letting anyone, it will never be taken away from you, we will not let anyone get close. [cheers and applause] you see these people on the other side, these people are crazy, by the way, they are totally crazy, but they want to take it away and give you lousy health care. Maria joining us right now to weigh in is the ceo of henry shine, stanley burkeman, your reaction to the president s plan . Good to be with you, maria, we need to ensure that every american has medical insurance in one way or another, medicare has worked however many efficiencies including the notion that we are not preventing people from getting sick, we are taking care of people when they are getting sick, much more prevention, wellness, cardiac cancer, dental care, we need to make sure that people stay out of the hospital, that people are taken cape of through primary care physicians and i think the private sector needs to play a key role in advancing health care in the United States<\/a>. Maria dagen how do you do that, i think insurance funds run out of money in 7 years, i think the benefits would fall, they could pay out tax revenue, i think 80, 89 cents on the dollar, again, because youre talking about something that does involve personal responsibility and i dont know how a government does this. Well, the key is over half of expenditure and 18 gdp the noncommunicable diseases, we can prevent people from getting sick and people take responsibility for that and if we do that, if are kept out of the hospital, we will ensure that theres plenty of resources for all to provide adequate coverage, having said that, we need to prevent people from getting sick and you know, government has a role in taxation, if you buy a pack of cigarettes in new york city, what is it 10, 12 bucks. Pardon . Maria its that much . Weve had quite a reduction in smoking because of that and i cant help but think that if we increase other taxes on alcoholic beverages and expand the notion of taxes, amount of sugar and salt in processed foods that too may help people dagen james freemans head will explode, you advocated taxing for all fat food. Happy hour tax which is beyond the pail for Many Americans<\/a> but im curious. You operate in both the healthcare sector heavily government regulated and the dental sector traditionally really a free market. Yes. Are there things we can learn from free market and dentistry to apply to the government dominated market in health care . We know that people take care of their teeth, live healthier and longer life, our job to educate the population, the public on the importance of eventing illness preventing illness, its not going to occur through taxation or any other way other than making sure that the American Public<\/a> that if you take care of your teeth, if you exercise more, if you eat less, if you stop smoking, you will live a better life. Are people because something about the structure of the dental market, more likely to take care of their teeth and exercise and avoid a bad diet, et cetera . 60 of the people see a dentist and 40 do not, we still have a big challenge in dentistry, having said that, those who go to the dentist, high correlation between good oral care and health care. Maria youre facing competition all over from brick and mortar to online, how are things going and where is the growth coming from . We dont mind how you see a dentist, whether its in a Walmart Store<\/a> or in a privatesector environment. Maria you affirmed a fullyear guidance last month in terms of overall earnings and we know that the dental area has been competitive for you, what are you going to do about it and where does the growth come from . The growth comes from providing, maria, more valueadded services, to help dentists, physicians operate more efficient so that our customers are positioned to provide, well, great clinical care, they are doing that, they need to help with efficiencies in the markets place and we are doing just that and thats helping us feel our growth. Maria i got personality responsibility, you made many great points for from taking care of your teeth. Ceo of henry shine. When we come back double dare, President Trump<\/a> is challenging Speaker Nancy Pelosi<\/a> over impeachment as the white house prepares a formal objection to the inquiry and the congress sent a letter to the speaker, theyve been trading letters back and forth, Kevin Mccarthy<\/a> and nancy pelosi, facebook in the hot seat, Ceo Mark Zuckerberg<\/a> being pressured to put the pressure on message encryption, see who is doing that, stay with us. Sometimes, they just drop in. Obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets<\/a> and drive forward with broader possibilities. Cme group how the world advances. Maria im maria bartiromo, it is friday october 4th, your top stories right now 6 30 a. M. On the east coast, jobs in america this morning, waiting on septembers jobs number, out in 2hours time, we are expecting jobs added to the economy, dow futures indicating a decline of 75 points, s p is down 10 and nasdaq lower by 24, this on top of a big rally at tend of the day yesterday, a volatile day but when all said and done markets with incredible reversal and we had weak reading on Services Sector<\/a> that raised the odds on Federal Reserve<\/a>, dow industrials up 142 points on wall street journal, s p up 23 and nasdaq up 87, Global Markets<\/a> look like this, european indices are mixed. The dax index in germany after holiday yesterday down 5 points. In asia overnight, markets were mixed there as well, shanghai composite closed, of course, as china celebrates 70 years of communist rule, golden week in china, hong kong was down better than 1 , facebook under fire this morning, attorney general bill barr stopped encryption from messaging. Trick or bad treat, find out what was named americas least favorite holiday candy coming up friday morning, first this half an hour, ukraine fallout, President Trump<\/a> prepare to go send a letter to house Speaker Nancy Pelosi<\/a>, daring her to hold a vote on the impeachment inquiry, this this as the white house says its prepare to go formerly object to Democrat Impeachment<\/a> inquiry since it was announced with house vote, President Trump<\/a> speaking out on ukraine controversy calling for investigation into the bidens. China should start investigation into the bidens because what happened in china is just about as bad as what happened with ukraine. Nobody has any doubt that they werent crooked. He had no knowledge of energy, he didnt know the first thing about it, i think biden is going down and i think his whole situation because now you may very well find that there are many other countries that they scammed just like they scammed china and ukraine and basically who are they really scamming, the usa and its not good. Maria all right, meanwhile we have this breaking this morning, ukraine says it is reviewing past investigations made into the Energy Company<\/a> linked to joe bidens son hunter biden, according to wall street journal this morning, joining us right now real clear politics philip, what do you see taking place . Well, President Trump<\/a> gets results at least in this matter here when it comes to barisma and looking some of the things were going on when president obama and Vice President<\/a> biden were in charge of things. What i find interesting of President Trump<\/a>, hes going to go for a dollar as well, hes not just talking about ukraine, hes also talking about china right now, seems that his calculus is that, yes, he might get impeached but in tend the larger conversation about the possible cronyism of joe biden is going to be more hurtful to his chief political rival. James freeman on the wall street journal, speaking of potential cronyism, im wondering is there a case, should we expect from the Biden Campaign<\/a> that hunter actually was doing legitimate work in ukraine or china, to this point the answer from joe biden has been i dont talk to the family about their business, i dont think thats going to work, i wonder if theres a case to be made that these were legitimate business deals by hunter. Well, a case to be made here in washington, d. C. Where its not unusual for someone to use or leverage the family name to get a job but its really awkward here when you take a look at the fact that, you know, in both ukraine and china, in ukraine hunter biden has no experience in Eastern European<\/a> affairs, he has in experience in energy, what do you know he gets a job on the ukrainian gas company, same thing in china, he was able to set up handshake with father and Vice President<\/a>. Maybe people in dc or new york might say, well, theres nothing technically i illegally. But hunter biden was in board of amtrak. Vice President Biden<\/a> said yesterday, wednesday night in an interview with the journal that he knew it was going to be this way, he defended hunter biden against the president s attacks and said that he will be part of the 2020 campaign which, phil, it looks like the democrats would welcome that because hes losing in iowa to Elizabeth Warren<\/a> and hes only 2 percentage roughly as of yesterday 2 Percentage Points<\/a> ahead of her in overall average polls. Clearly is hunter biden is not helping trains run on time. If you look at numbers, not only biden behind Pete Buttigieg<\/a>, also behind Bernie Sanders<\/a>, we dont even know how much Elizabeth Warren<\/a> is going to bring in in final haul, i think this shows two things here, when you have hunter biden around, you are going to continue to have questions about that cronyism in ukraine and china and then also as impeachment continues to barrel down the track, this sort of idea that biden is antitrump champion, that sort of lessens a little bit because if democrats think they can get rid of trump through impeachment, theres less of a node for biden. Maria you mentioned fundraising numbers, former Vice President<\/a> s campaign, bidens campaign released number, 15. 2 million in Third Quarter<\/a>, down from 21 million they raised in Second Quarter<\/a>, biden raising less money as you said than Bernie Sanders<\/a> and south bend mayor Pete Buttigieg<\/a> and lets compare that to donald trump who raised 125 million in the quarter, do you think that this whole impeachment thing is helping trump from his base, from his donors . I certainly do. I mean, if you are locking at money, this is one of the best metrics outside of poll to go see where energy is and what political basis won and right now President Trump<\/a> has been able to use impeachment to his own benefit because theres a premium with political, youre able to say to your base, hey, you sent me here to fight, they are coming after me, rally to my defense. Maria do you think the president is in danger of being pushed out of office . Yeah, not when Mitch Mcconnell<\/a> is master of the senate, what is happening right now, we see that the house is moving towards this impeachment inquiry, obviously we dont know what can come out in the future with regards to some of the phone calls, we dont know how many transcripts there are. I dont think that republicans who have wedded their fate to this administration for the last 3 years are going to be persuaded to go the other way in the final moment. Maria why didnt she take a house vote, by the way, she doesnt want to put her members on the spot to say i want him out, i dont i want him impeached, is that all this is about . Well, this is the question that the Trump Campaign<\/a> and Trump Administration<\/a> are certainly begging at this point. I think they want nancy pelosi to call the vote this way and same way the vote was called during past impeachment investigations. What i think is true is exactly what you just mentioned, if you force this vote in the house, that shows that republicans will line up behind the president but also will force some of the freshman democrats from lightblue districts who came into office not talking about impeachment, not talking about some of the more leftist goals and instead policy issues. Maria they will have to take a stand now, dagen. Dagen it is also about the powers that you grant to the Minority Party<\/a> once you vote and move ahead when define the parameters of impeachment, of an impeachment inquiry and the powers that the Judiciary Committee<\/a> could exercise, it needs to be formal, it needs to be serious and everything that pelosi and her sidekick adam schiff have done so far do not show they are serious and theres no formality but, again, the Minority Party<\/a> in the past with nixon and bill clinton has gotten the power of subpoena along side the majority. Maria speaking of being serious, a couple of months ago they had the bucket of Kentucky Fried Chicken<\/a> on the floor of the house, remember that one, when they were trying to attack william barr thanked week adam schiff comes up and makes stuff up when he kicks off the hearing, philip, good to see you, thank you so much. The u. S. And north korea meanwhile set to resume Nuclear Talks<\/a> in sweden, Cheryl Casone<\/a> on headlines, cheryl. Cheryl maria, north korean officials have arrived for the meeting this weekend, marks the first talks since President Trump<\/a> and kim jong un failed to reach a deal in february, this after north fired Ballistic Missile<\/a> designed for submarine launch. Back here hewlettpackard, Company Going<\/a> to cut up to 9,000 jobs, 16 of the workforce over the next 3 years, hp says that the cuts will save about a billion dollars, slowing printer sales. Finally theres this, its october, we have to talk about halloween, you may want to think twice about what candy you hand out on october 31st, candy corn turns out its americas least liked halloween candy, this is a survey by candystore. Com, they sound that circus peanut, and favorite reeses Peanut Butter<\/a> cups. I like candy corn. Not too much. Maria when you start eating candy corn [laughter] you have to wonder about survey methodology. Pollsters polled the 2016 election. Maria you dont believe the polls. Quick break and the trade battle is heating up, President Trump<\/a> is ready to slap tariffs on european goods after World Trade Organization<\/a>s ruling on air bus, we have the retaliation ahead. Facebook in hot seat today, Ceo Mark Zuckerberg<\/a> to slam the brakes on message encryption, wait till you hear this one, thats up next is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. 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. 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, protecting privacy, Lauren Simonetti<\/a> is here now with all the details, good morning. Lauren yeah, maria, its not just bill barr thats doing that, teamed up with officials from uk and australia in a letter to Mark Zuckerberg<\/a>, this is what they write, companies cannot operate with impunity, if mr. Zuckerberg has credible plan to protect facebooks more than 2 billion users, its time that you let us know what it is, this lane open persistent debate between privacy and Public Safety<\/a> and the world of Technology Companies<\/a> in that, the lid blast open 3 years ago when apple pulled back against the Justices Department<\/a> request to get into encrypted iphone of San Bernardino<\/a> mass shooter, ultimately Law Enforcement<\/a> was able to get into that phone but now facebook wants to encrypt all its messages sent over Messenger Service<\/a> not just whatsapp. Dh says that last year, this is a pretty good point, facebook with 16 reports of child abuse to authorities and estimate if facebook encrypts messages, 12 million of those reports of child abuse wouldnt happen, the fbi director Christopher Wray<\/a> will be there, so uk secretary among others, but its not just child abuse, its terrorism that they are concerned about, other criminality and the main point that if you give Law Enforcement<\/a> that door, youre also opening the back door being used by criminals and then you have more problems in the end. Maria important debate. Lauren we have been talking about it for a long time. Maria we really have, youre right. I think what barr is saying we want the same access, we Law Enforcement<\/a> that we traditionally have with the phone system where once a Court Approves<\/a> it, its a very easy process to tap someone, they need that technical help from Silicon Valley<\/a> to do this. Maria once Court Approves<\/a> it. Right. Maybe this is not the time until mr. Barr tells us exactly how the fisa court was abused or participated in the abuse in 2016 election. Maria im not taking anything seriously in any of this stuff until i see accountability and acknowledgment of what happened in 2016. The whole issue to barr to prevail requires people to say, yes, i trust the government with powerful tool, its a odd time to be asking for that, i understand he has compelling Law Enforcement<\/a> reasons. Dagen also on the hill and in congress you cant argue that you put peoples privacy at risk in facebook and then and in the Justice Department<\/a> say, well, we need to have access to peoples private information. If its in the cloud, though, you can subpoena it pretty easily. Lauren level Playing Field<\/a> because apple is encrypted and whatsapp under facebook but the rest of facebooks messages arent. Maria this is why we need to see accountability from what took place in 2016, people are not going to trust the doj and the fbi until they feel that that they are being protected and that the government isnt turning their tools on the American People<\/a>. Dagen yeah. Ultimately the people will demand that those tools be taken away, period. Maria lauren, thank you, great debate. The trade battle heats up, President Trump<\/a> ready to slam tariffs on europe after the World Trade Organization<\/a> ruling on air bus, boost for apples, shares of the Technology Giant<\/a> up this morning on reports of Strong Demand<\/a>s on iphone 11, so much so that its raising production there, we will be right back this is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. Liberty mutual customizes your car insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty im working to make connections of a different kind. 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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 bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. Maria welcome back, President Trump<\/a>s trade battle with europe, the white house is slapping tariffs on 7 and a half billion dollars worth of european goods, white house trade adviser Peter Navarro<\/a> weighed on the program about that. I want to make a key point, theres no tit for tat retaliation, no fears, under the rules of wto which we are complying with here, we get to do this and they should not do anything back. Maria we are learning this morning that europe is threatening retaliation, joining us right now business of france chairman ambassador pascal, ambassador, good to see you, thank you very much for joining us. Thank you. Maria do you think eu retaliates on 7 and a half billion dollars of tariffs . Its more about using the network to ensure that we discuss, the issue for us would be very clear, some of the side effects could actually has nothing to do with the disputes on the story. We go back to some old story or debates which is nothing good for business in continents. Maria you make good point, tariffs like on wine, cheese, dairy, its not aerospace at all, there are tariffs on aerospace as well. Thats the way to impact both from point of view and certainly concerned and creating issues with a lot of people which will be unhappy, which is why you see serious concern and thats why we need before anything else go through different network, again, i know the trade war is nothing good for the french and we know theres a lot at stake, remember the u. S. Represents massive jobs in europe here. Maria yeah. [inaudible] im wondering if theres an opportunity here maybe for for europe to say, dont go ahead, u. S. , with 7 and a half billion in tariffs and by the way lets take off the tables threats of more tariffs on automobiles and what not, what does europe say how to lower tariffs to deal with the United States<\/a> . The truth of the matter as you know, right, we have been talking about the issue of subject, we can go back in 2004, and i think what you will see once the different way we tried to do, that, yes, putting some about that. We really believe thats not the right environment and the right dialogue that we want to establish, europe will take a strong stance, its a lot of money. Is it a right policy . I dont think its what we are talking about here, something which has been allowed continued and no inflation of price, remember, thats not good for everyone. Maria yeah. You have tariffs, inflation of costs, you have lower consumption, so you understand deep implications of the tariff fight maria before we two, we want to ask you about this as well because the president Emmanuel Macron<\/a> recently announced billions secured from private investors for French Technology<\/a> startups, is the environment changing in france in terms of startup activity and innovation . Im really their tell you that we need and want to be a country which has never been friendly today to have more investors in the u. S. To come and support whats happening. Maria why would they . Let me tell you why they do massive resurgence of entrepreneurs, we believe that theres some area where they do well. Most successful ipos are led by frenches. Maria we will check that out ambassador pascal, we will be right back. Performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Naturand betweens are a facactivities and school, chances are, you wont be with your kids when they happen. Will they know what to do . Ready. Gov kids can help your children feel prepared, not scared. So talk with your family today. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is october 4th. Top stories right now, 7 00 a. M. On the east coast. Jobses in america, all eyes on the september jobs report this morning. Its out in an hour andahalf. The expectation calls for 145,000 jobs added to the economy in the month of september with the Unemployment Rate<\/a> Holding Steady<\/a> at 3. 7 . Ahead of the numbers, markets are down. Take a look at futures, indicating a decline of about 96 points on the dow industrials, s p down 12, nasdaq lower by 29. This on top of a rally at the close yesterday. It was a lot of back and forth. When all was said and done, markets staged a big reversal, finished the day up in the trip oltriple digits. Dow industrials were up 122 points at 4 00 on wall street. S p was up 23. Nasdaq yesterday up 87 points, better than 1 . Global markets this morning are mixed. European indices as you see, fq100 is up 22, cac is up 10, dax index in germany is lower by 2 points. In asia overnight, markets were mixed. China is closed as it continues to celebrate its 70 years of communist rule. Look at hong kong, hang seng index down better than 1 . Made in america, this morning were taking a look at the products that help create jobs in america. We have our own made in america fair on the plaza today. Were going to the take you there live coming up later this hour. Seatapple is increasing output o 10 for iphone 11 because of Strong Demand<\/a>. All those stories coming up. Joining me to break it down, Dagen Mcdowell<\/a>, chief economist, john lonski and james freeman. Great show so far, guys. Lot going on. Dagen bon jour mon amie. Maria theyre raising billions of dollars for startups in france. Dagen highly educated workforce. I will point out that the modern tariffs that the u. S. Uses is the chicken tax, 25 import tax on light trucks and it was borne out of a trade fight with france in the mid60s over poultry. Maria thats why they call it the chicken tax. Dagen you brought up the issue of going to zero percent tariffs. Maria not going of to happen. The president said hes not going back on that chicken tax, the 25 on light trucks. All things are possible. Remember, he also said a few years ago at the g7 meeting in canada he wanted to go to zero tariffs. I think it would be nice to he see someone on the european side make a compelling offer in that direction. Maria if the president were here right now, i bet he would say, well see what happens. Right . Europe really wants to do a deal, they really want it, i dont know if i will. Somebody could resort to subsidies and that effectively serves as a type of tariff. International trade is a very, very messy business. And i think its going to stay that way forever. It would be really nice to get growth back to where we want it, to have trade peace with europe, at least, if hes going to continue this china negotiation, lets resolve things with everyone else if he wants to dig in there. Maria we have a check on the economy coming you. I want to he get your take on the investors who want to buy barneys, thats a good story this morning in the journal. Lets talk about that. Dagen yes. Really quickly, the guy who is part of putting the deal together owns kiss which is the hottest sneaker, at leisure boutique, it could change barneys and make it viable. Maria all that comp u coming s morning. Breaking news this morning. Ukraine says it is reriewg viewing past investigations made into the Energy Company<\/a> thats link to joe bidens son. President trump doubled down on his calls for the biden family to get probed. Now he says china should investigate as well. Hes calling the democrats bluff on impeachment this morning. The white house expected to send nancy pelosi a letter later today, saying the president will not cooperate with the continue choirly until h pelosi holds a formal vote throughout the whole house. The president said its a desperate measure to oust him before 2020. Thats why they do the impeachment crap because they of know they cant beat us fairly. Thats the only reason theyre doing it. They cant win. They cant win. If they won it would be a sad day for our country. It will be a sad, sad day for our country if they ever won. Maria this comes amid a marathon hearing yesterday with ukrainian envoy kurt volker, testifying for more than nine hours yesterday. My next guest was there. He joinses us root now to talk to us about it. Pennsylvania congressman, scott perry. Congressman, its a pleasure to see you. Thanks so much for joining us. Good morning. Thank you so much. Maria what can you tell us about that kurt volker hearing yesterday . Well, i can tell you that kurt volker is an im press impressive individual, professional and highly credible and his testimony throughout, and i would just tell you, folks, he was browbeat by the Democrat Party<\/a> and their questioning staff attorneys for about nine andahalf hours and nothing he said bu buttressed te impeachment argument. On occasion after occasion, everything he said dismantled it and this whole question of quid pro quo, i mean, the democrats sure think there was a quid pro quo but apparently the ukrainians had no idea. So its hard to think that there was any leverage there, when the individuals that the leverage is being applied against dont even have a clue that its happening. So i just think that its fallen flat. The democrats star witness, because he was named as you know in the alleged whistleblower, and i say that because i think its really a leaker, not a whistleblower. Thats another story. But he was named in that revelation and nothing he said supported the democrats narrative on impeachment. Maria what else did he say that knocks down this whole idea that theres was wrongdoing in that call and between the u. S. And youd yo ukraine. I think it goes to intent. Most people maybe dont realize that the president has a deepseated scepticism about ukraines ability to get out of the corrupt nature of governance there even with the new add a medicine strayings and hes looking out for the american taxpayer, saying are we sure if we send them all this money had that its not going to end up in the hands of the wrong people. Ukraine has a history of that with their government there. He was really, really drilling down and focusing on that and that was what he was interested in. And also, the fact that he has heard viable reports over and over again about this barisma and the fact that either the investigations were started and never completed or never started at all and hes heard reports over and over again and he wants to get to the bottom of it. Maria adam schiff came out of the meeting and he wasnt talking, he said were not going to talk right now. Normally he likes to talk in front of the camera. What do you make of what he did earlier in the week in terms of making up what was in that letter, he sat there as chairman of the committee, he had the transcript but he didnt read from the transcript but he read from his own made up what he called a parody. Ill tell you, folks, i think it was maria, i think it was disgusting. I dont think adam schiff should be in charge of anything here. Chairman schiff, he lied to the American People<\/a> and everybody internationally watching that thought those were the words of the president. Hes actually caught on tape doing exactly what hes accused the president of doing, which is colluding with a foreign power regarding electoral politics m the United States<\/a>. And hes been disingenuous and dishonest about claims for two years regarding what he called credible revelations in the russia investigation and evidence that he had that apparently never came to light. And most recently even with this alleged, again, whistleblower issue, we hear that there are questions of honesty regarding chairman schiff. So at a minimum, he shouldnt even be in charge of this thing and the American People<\/a> should see this transcript of this nine andahalf hour questioning yesterday. They dont he know whether to trust one news source or another. They should just read it for themselves and then theyll see what the truth is. Maria your colleagues are calling for adam schiff to step down as chairman of the intel committee. We know for two andahalf years he did go on cable tv up and down the street saying that he had evidence of collusion and that the collusion was in plain sight. He said it even after the Mueller Report<\/a> came out. Its really incredible, actually. What do you make of the whistleblower . You referred to the whistleblower a couple times here. At one point you said it was really a leaker, not a whistleblower. Who is the whistleblower . What should we understand about this person. We dont know who the r who. This person got information from somebody else and leaked it to the Democrat Party<\/a> apparently and other folks, the department of justice, et cetera. And so those are leaks. Thats not whistle blowing. The reason theyre trying to keep it under the use mis amissf whistleblower theyre not to be revealed by people that just have a political difference with what they hear in the conversation. And thats where we are. So i think that this is one of the issues as well as others that needs to be we need to follow it the whole way, the facts wherever they lead us and then well know what happened there. Was that person collaborating with other members of a political party, what have you, to bring these revelations to light not for the security of america, but because they have a disagreement with this president. Maria real quick, before you go, where is this going . Your leader, Kevin Mccarthy<\/a> sent a letter to nancy pelosi saying stop all of this effort surrounding this impeachment inquiry immediately until we have a house vote. She writes back to mccarthy saying we have to take a solemn oath to support and defend the constitution against all a enemies and we are in the right stead to do this. Where is this going, do they need a house vote . That is supporting upholding and defending the constitution which says if youre going to have all these impeachment hearings and if youre going to do this impeachment discovery, you have to have an Impeachment Vote<\/a> first and theyre trying to have their cake and eat it too. Theyre on a fishing expedition and they want the white house to provide the boat, the fish, the tackle and Everything Else<\/a> of. Thats not how it works. If you want to have impeachment, then have the vote, call for impeachment a, then the investigation follows. All americans should know whether their representatives in congress are for this impeachment based on specious evidence by anonymous people that we dont he know who is making the claim, that the president doesnt get to see or know his accuser. All americans should know where representatives or candidates stand on this impeachment think manufacture im wondering if maria im wondering if the democrats coached this person, this socalled whistleblower. Adam schiff said he hasnt spoken to the whistleblower, then he said he did. It sounds like Christine Blasey<\/a> ford before the hearing, where she was coached before she went into the hearing room. Representative schiff has a history of this. He did this with cohen as well and its the dishonesty that he has displayed that goes to the lack of credibility which is why he should not be in charge of this charade thats going on. If they want to have an Impeachment Vote<\/a> and get down to the nuts and bolts, then have the votes of the people. Maria good to see you, sir. Coming up, another parent has been sentenced. One father facing jail time for his role in the College Admissions<\/a> scandal. And ill introduce you to a group of ep entrepreneurs helpig to create jobs. We have a job fair going on, American Made<\/a> jobs. Back in a minute. Im stronger than ive ever felt. This is the part where i break free. Changing whats possible every single day. 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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. A high powered new york lawyer is going to prison for his role in the College Admissions<\/a> scandal. Heres cheryl on headline. Cheryl maria, Gordon Kaplan<\/a> received a one b month sentence for paying 75,000 for a test proctor to fix his daughters act score. Prosecutors wanted a sentence of eight months for the already disbarred attorney. Hes the fourth parent in the scandal to be sentenced. A California Wine<\/a> owner in the scandal will be sentenced today. Hes facing 15 months. We shall see what happens with that. British petroleum is getting a new ceo. Bernard loonie will replace bob dudley in february. Dudley andahal navigated the y through one of the most turbulent timeses in the companys history. A japanese newspaper reported apple has been asked to boost production for the iphone 11 model by 10 , stock up one and a quarter percent right now. Sources are saying the biggest demand is for the least expensive iphone 11 and iphone pro. Apple not commenting but ive got to point out there was a price drop for the basic model, its 699, it was 749 for last years iphone xr. You cut the price a little bit, people start buying. Maria i guess so. That works. Coming up, health care in america, President Trump<\/a> rolling out his medicare plan yesterday. Aflacs chairman is weighing in on that. Sesamestreet making big moves, heading to the streaming universe where you and your family will be able to watch on streaming. Back in a minute. Get along down the road. Weve got a long way to go. Scared to live, scared to die. We aint perfect but we try. Get along. While we can. Imagine a world where nothing gets in the way of doing great work. Where an American Icon<\/a> uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party<\/a> store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. The world is customized to you. Built for you. So why isnt it all about you, when it comes to your money . So. Whats on your mind . We are edward jones, a 97yearold firm built for right now. With one Financial Advisor<\/a> per office, were all about knowing whats important to you the one who matters. Edward jones. Its time for investing to feel individual. Thats why Xfinity Mobile<\/a> lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network<\/a>, designed to save you money. Switch and save up to 400 a year on your wireless bill. Plus, get 250 back when you buy an eligible phone. Thats simple. Easy. Awesome. Call, click, or visit a store today. Maria welcome back. Healthcare in america, President Trump<\/a> signed an executive order yesterday to expand private Medicare Advantage<\/a> plans in florida. The directive includes tele health services, streamlined access to services and fewer regulations. We are making your medicare even better and were not letting anyone, it will never be taken away from you. Were not letting anyone get close. [ cheering and applause ] you see these people on the other side, these people are crazy, by the way. Theyre totally crazy. But they want to take it away and give you lousy healthcare. Maria youve heard the commercial, aflac. Joining us right now is the chairman and ceo of aflac, dan amos. Thank you for joining us. Your reaction to the president s executive order yesterday . I think any time youre keeping plans that have been effective and its a great idea so im glad theyre doing it. Maria how does this change things . Youve got all these other ideas on the democrat side. Tell us how the president s plans will change the environment. Well, im not sure exactly. Im not a poll tigs, per se. Politician, per se. I can talk about how i see we sell in japan where 75 of our earnings come from and they have a National Healthcare<\/a> plan. So whether its hmos, whether its the blues, whether its some other plan, we should do very well in that environment because we provide cash to the consumer. And they fill those gaps wherever they need it. I think our products are going to be needed in any environment you go into. Dagen what does the japanese Healthcare System<\/a> look like . Is there something that the United States<\/a> will or could follow in terms of implementation of at least more insurance in this country . You know, japan works under a system where by you start where youre in a ward, you dont get a private room or a semiprivate room and you have to pay up the continueses. And you dont get pay up the differences. You dont get to choose your doctor. They give you a doctor. If you want a certain doctor, you have to pay up. So there are all of these gaps in their Healthcare System<\/a> that you have to pay. One of the ideas behind healthcare is to create gaps to where people wont use it as much. But use it when they really need it. But on the other hand, its actually affecting people in a way that they need additional insurance to help pay for the things they really need because as you can imagine, certain type things you want to be in a semiprivate room. You dont want to be maria are you worried about the companys cancer product . There was some worry that japan would be pulling and halting the sale of that product through the Postal Office<\/a> network. Theres r worries that thats not resolved. Is it . Yes, its resolved. They will. I met with the head of japan post, had dinner with him a couple weeks ago and they are still allowing us to sell the products. Theyve got a few issues theyre dealing with themselves. But it has let me be clear hurt our sales some, simply because theyre working on another one. I believe theyll resolve it by yearend. How do the healthcare costs for surgery in japan compare witwith the United States<\/a>, talkg about heart surgery, cancer surgery and the like. Any idea . One thing about japan thats very different is more so than the surgeries is the number of days in the hospital. For example, for pregnancy, on average a woman stays in the hospital seven days in japan. For cancer treatments, its 28 days compared to usually five days in the u. S. And the difference is, in japan, no one has that extra bedroom that you can keep mother or dad in or someone else in. So they literally the day they get out of the hospital, they go back to work. We come back, we go home, we stay home a week or two, and then do they that. Most of them dont have that ability to take care of them that way because of space. So they end up doing it in a different manner. I guess for an investor who is maybe the consumers very concerned about National Healthcare<\/a>, very concerned about these plans on the democratic side but as an investor, a company like yours it sounds like can operate in any kind of healthcare Regulatory Environment<\/a> including National Healthcare<\/a>. Well, yes, i think thats right. Certainly it can change but i think people need cash to fill gaps in their healthcare coverage. It might be outofpocket expenses, loss of income, copays, deductibles, whatever it might be. But this money we give them helps fill foe fill foes gaps. Maria youre the second longest serving ceo in the for n fortune 200. To what do you attribute the longevity . Well, i think ability to look forward and constantly be willing to change. I think as a company, you cannot stay stagnant. You have to constantly be reinventing yourself. And so i think thats been the real key. Dagen being from the south, come on, just say it. All right, yall. Maria great to have you. Thank you so much. I dont think theres another commercial that i remember as well as aflac. We love that. Maria i love saying it. Dan, great to see you. Thank you. Maria dan amos, the ceo of aflac. Coming up, the vaping epidemic, startling numbers reveal the vie cries sis is getting wors worsecrisis is getting worse. And im meeting american entrepreneurs on the plaza, next. Youve got the brains, ive got the looks. Lets make lots of money. Youve got the braun, ive got the brains. Lets make lots of and zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero this is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. 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. ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. With truecar, to sell just enter your license plate return home. And see your cars value in real time. Sports package and low mileage . Nice. Within minutes, youll have a true cash offer, and you can head to a dealership and get paid, today, right now. There are things we would change about work. And there are things we wouldnt. When work is worth it. Work is worth it. Work can be closer to home. Pay more. Make us proud. Careerbuilder. Work can work. Find your work at careerbuilder. Com dagen welcome back. The 2019 made in america conference and trade show kicking off this week. The event featuring manufacturing experts showcasing products and machines built in the u. S. Fox News Headlines<\/a> 24 7 Carley Shimkus<\/a> is live at the indiana conference center. Hey, carley. Reporter hey, dagen. History is being made here in downtown indianapolis. Thats because this is the first ever conference thats focused exclusively on products made right here in the United States<\/a>. Check out that car many look at that. I know youre a car person, over there in the corner we have a monster truck. And this is liberty flatware. They make their products right here in the United States<\/a>. Holder mattresses, they make their mattresses in kokomo, indiana. Ive never seen the inside of a mattress before. If you wanted to know what it looked like, there you have it. Just to show you guys the variety of products that are here today, this right here is an exotic taxidermy booth. I found out they get their rattlesnakes to stay that way by freeze drying them. If youre interested in this type of product, this is called the skin shop. Im sure you can find them online. Dagen and maria, because i love you so much, im coming back to new york with rattle make key ry chains for you guys. Maria thank you so much. Im outside on the plaza right now. Weve got a big group out here. Hi, everybody. Good morning to you. Were spot lightin lighting madn America Companies<\/a> on the plaza this morning. Im here with three business owners, theyre creating jobs right here at home. Theyre joining us from alabama, michigan and new york. Joining us first is collin wayne, the ceo of red line steel. Also with us is connie honnie, the ceo of michigan mittens and nancy gold is the ceo of tough traveler. Great to see everybody. Thank you for being here. Tom, tell us about red line. Red line steel is a company that we manufacture all our decor made out of steel. These beautiful products, perfect just in time for the holidays, we manufacture it out of steel. We powder coat it and, yeah, its been an incredible journey so far. We made you this custom monday p knomonogramand its for you. Maria thank you. Thats great. I love these flags. This is all steel if. Yes, it is. Its made out of steel and po powder cotted. You can put it coated. You can put it outside or inside. Maria you manufacture this in america. We do. In huntsville, alabama. We use domestic steel out of and then we powder he coat everything so you can put it outside or inside and weve been able to scale our company from 2016 to where were at right now when i founded it to 110,000 square feet. Our goal this year is to reach over 1 million homes and were about 750,000 orders in right now so were almost there. So the home stretch. Maria good for you. You recently attended the president s made in america forum, right. Yes, at the white house. It was incredible. I got a selfie with President Trump<\/a> and he posted it on his instagram. Maria he signed an executive order for qualifications in terms of making in america. More specifically with the steel space, where the steel in particular would raise to 95 for you to claim made in the usa and so all of our products are proudly made in the usa. Maria thats terrific. Collin. Thank you. Lets look at some mittens made in michigan. Connie, great to see you. These are nice looking. Thank you so much. Maria tell us how you produce and whether or not youre seeing any impact in terms of the competition on tariffs. Well, we are very proud to produce our product in america. Were able to put more people to work right in our community. Some of our products we donate portions of the proceeds to the homeless, to help the great lakes which michigan is full of great lakes. And we also donate a portion to our usa mittens which arent picked here but theyre on our website. Maria these are great. To the fallen and wounded soldier fund. So we not only make mittens for michigan, which our tag line is always have a map onhand. Maria thats good. But we make a usa version that are really warm and made of wool, so maria hows business going . Are you seeing costs go up, given the commodity moves. Tell us whats driving business right now. Were doing just fine. Were able to actually cut some costs an were doing just fine. Maria have you seen an impact from the tariffs . Youre putting me right on the spot with this. Maria maria we are live. No, actually, were we havent really been impacted too much because we havent bought from china. We kept our product made in america. We havent had to go overseas and wed like to keep it that way. Maria thats terrific. Thank you. We love made in america. Were moving to the tough traveler from upstate new york. Nancy, what are your most popular products . Rights now we are shipping our dog not with a toy but real dog backpacks all over the world. So thats very popular. To australia, britain, wales or whatever and so that and the United States<\/a> of course. Thats a popular product. I dont know most popular, because it varies. We have over 600 products. Maria people pay up for their animals, that i know. They do. Maria what does this retail for . I dont know this one, because we have 600 items. So i dont know. Its really its for people who want to be comfortable with their dog and they want their dog to come with them. Maria that makes sense. The audience recently met my new dog, dusty, so i get it. Hows business going right now. Its going okay. Its very varied. Its very difficult to be u. S. Manufacturing in that we have much higher prices we have to pay of course our employees, we want to, but its much higher than 50cents an hour for the imports. And were holding up. Maria its the cost of labor. Any impact from tariffs . More tariffs the better for us. We hope for them. Maria you dont we try to balance it a little bit. Maria you dont want the competitive product dumped in the u. S. At a cheaper price. Yes, we dont. Exactly, theres nothing else to say to that. Maria i understand. We find also i want to tell you, maria, we find that the people that in our factory, in our area, in upstate new york, are he very happy to have the jobs. They are he ver skilled. Maria are any of you hiring right now . Weve got the jobs numbers coming out. Were always hiring. Were always looking for the right people. A lot of times we get candidates coming through and like ill create positions. Thats the perks of being the founder and the owner is like weve been able to scale to over 50 employees and as far as the tariffs go, its actually impacted the Steel Industry<\/a> in a major way. For the positive. The first few months we saw a big increase in price but now this quarter its actually less than its ever been in the history of the p company because of these tariffs that are in place. Thats huge. Maria you were seeing tariffs coming in from all over the world getting dumped in the us at a cheaper price. Right. That, and then when the tariff actually hit, it caused a spike at the mill which caused everything to increase which now its leveled off where its a lot cheaper for us, which is great for the economy, were able to produce high quality Steel Products<\/a> at a lower price point. So its great. Maria terrific. Its great to meet you guys. Great to see entrepreneurs in america making your products in america. Thank you so much we want to thank collin, connie and than n. Be sure to stay here for our coverage of the september jobs report. Thank you everybody. Made in america, the crowds like it. Its been a busy week on mornings with maria. As you know. The news has been moving fast. Take a look at some of the top moments from the program this week. Your response to this letter from the Biden Campaign<\/a>. The reason they were rattled yesterday is because they were confronted on your show with something they dont know about. Facts. Republicans arent in charge of the house anymore. We dont have the opportunity to control the agenda. Its really going do be incumbent on Lindsey Graham<\/a> and republicans in charge of the senate to be able to ask questions and dig into joe biden and the ukraine and all of those things that happened there as much acid like to in the house, i dont think jerry nadler is going to bring in any witnesseses that allow us to develop that testimony and i dont think adam schiffs going to bring anyone. Theyre off on their impeachment search party and theyve got their newest shiny object right now and thats the abuse of power. Victory for the donald trump aadministration here, we have aircraft manufacturing, airbus, that wouldnt exist except for the fact that subsidies from europe and its been a 15 year battle. Theyve cost this country thousands of jobs and boeing hundreds of air crafts not sold. So the award is moving forward, 7. 5 billion a year in damages that were effectively allowed to recover with tariffs. The consumers in great shape even with Student Loans<\/a> and with car loans relative to the last 10 years. The uncertainty in the Business Community<\/a> over tariffs is clearly having an impact on certain cap ex expenditures and that will have some slowdown effect. I dont know whats going to happen. Im sure the kids will get more wild in response to the Police Violence<\/a> but this is wrong strategy. I hope they dont escalate the violence with the police because our Resistance Movement<\/a> has to proceed and for long time to wear out the chinese under the pressure of the world, so we escalate the violence response to police, that will be the wrong thing to do. Maria the first thing they go to is raise taxes, make sure to soak the rich. Im going to say something. It might surprise you. I have no trouble if you raise my taxes. None whatsoever. Provided i see benefit and those taxes going to people. Proposals for medicare for all, what they would do is take Medicare Advantage<\/a> away, they would outlaw private insurance. This is what our seniors want. What the president is doing is putting a stake in the ground, sayings hes going to defended d protect made care fo medicare fr seniors. Hes going to improve medicare. Maria youre hear to debut a limited line of products. Im loving batman. We have 800 wonderful employees on a worldwide basis, they have pop culture antennas up all the time. Theres no shortage of wonderful ideas in the company. Our company is built on fan service. We listen to our fans, engage with our fans better than anybody in our space. Weve got a great mix of teams this year. Some of our iconic franchises, the dodgers, the yankees, some great clubs for big markets, houston and washington. We also have some of our smaller markets, st. Louis, milwaukee, oakland that have played tremendous. Were looking for good matchups. Maria we were running video earlier of when i threw the first pitch and it was the beginning of the playoffs in 2006. Honestly, the look on my face, you could see it was the most exciting day of my life. I was starstruck and excited to be on the field to get it over the plate. So, i mean, youve got this excitement around baseball that never goes away. 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. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. The number of deaths and illnesses linked to vaping continues to grow. Cheryl casone on headlines now. Cheryl the centers for Disease Control<\/a> and prevention say 18 deaths are across the country are linked to vaping, this as the more than 1,000 people are battling a mysterious lung disease linked to ecigarette use. Two streaming giants are locked in horns. Amazon wants a piece of the ad revenue pie from disney apps on amazons fire tv devices. The paper says amazon wants 40 , disney is offering 10 . Sources say a deal could be really down the line as the two continue to battle that out. Both stocks are down in the premarket slightly. Then there is this. Elmos star is rising. Sesame workshop is developing a new talk show for our favorite little red monda monster, callee not too late show. Elmo will be interviewing celebrity guests. They also announced a he deal with hbo max. It will begin airing next year, first on hbo max, then theyll be available for free through pbs. Thats how you get to sesame street. Maria thats great. Well, look, i mean, sesame street now going on streaming, youll still be able to get it for free i guess on Public Television<\/a> but its going to air after they air first on the streaming service. Dagen can i quickly mention a few made in America Companies<\/a> that i know and love. Lc king manufacturing, been in business since 1913, they make awesome mens work clothing. So cool. Based in bristol, tennessee. Red land cotton, they he grow their own cotton and make sheets inial ba bayin alabama. And also shot leather jackets, Marlon Brando<\/a> wore won, theyre made just across the river in jersey. Maria those are beautiful jackets. And you love to he see made in america where theyre producing here and he creating jobs here. Dagen absolutely. Maria it is of course jobs friday. Were going to get the numbers in about 40 minutes. Coming up, robot coworkers, were taking a look at a factory using artificial intelligence, changing the future of work. Stay with us. Custom kitchen delivery. Weve got to move these refrigerators. Weve got to move these color tvs as my broker, what am i paying you to manage my money . Its racquetball time. thumps ugh carl, does your firm offer a satisfaction guarantee . Like schwab does. Guarantee . splash carl, can you remind me what youve invested my money in . Its complicated. Are you asking enough questions about the way your wealth is being managed . If not, talk to schwab. A modern approach to Wealth Management<\/a>. Imagine a world where nothing gets in the way of doing great work. Where an American Icon<\/a> uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party<\/a> store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. Maria welcome back. Now hiring, robots, one Company Giving<\/a> us an inside look at robots working alongside humans. Gradgrady trimbest ll has more h that. Reporter as we await the latest jobs numbers, theyre getting warmed up here at fusion oem. Theyre letting me start this machine. Im going to hit that. This is going to turn a piece like this into a usable machine part like this. Okay. And so the whole process here is called cobotics which stands for collaborative robotics, the people are working alongside the robots. Heres the president and founder of the company, craig zobere. The robots do the tasks people dont want to do. Theyre not taking their jobs, though. Theyre not taking their jobs. Theyre like buddies on the production floor. Theyre doing the mundane work, the dull work. And the cobots are great helpers in advancing their education here at fusion. Reporter im going to step out of the way. You see it grabbing the part there. There are a lot of job openings in manufacturing right now. You hope this encourages people the to see manufacturing in a different way. Yeah, bringing cobotics to the production floor is an attractive feature for most corporations. Theres a retention fact. Reporter people learn how to use the robots which is not a mundane task and they learn how to retear th repair the robots s a lot of skills involved. Theres a lot of skills. Theres a new set of skills for the production floor for Small Manufacturing Enterprises<\/a> right now. Reporter thanks, craig. I dont know if this is true but i hear they actually call them brobots because theyre bros on the floor here. Maria im sure. And this is only going to continue. Humans cohabitatting and working along side robots, for sure. And im sure somebody did that job before the machine did it, right . Reporter yeah, exactly. But because its kind of a rep repetitive task. , the machine cando it while g other tasks. Maria grady, thank you. Really fascinating whats happening. Grady right there in the plant many whats your reaction to all of this. When i did my a. I. Special a couple weeks ago, i ended the piece on this idea that well be cohabitatting with robots. Theres a. I. And theres agi artificial general intelligence when a computer can take on everything that a human does. Its fascinating. I dont think we need to fear brobot culture. As as he said, weve got this job market where companies cannot find the workers. So theres always concern, whether technology is going to replace us, but the history is that new technologies destroy some jobs but create many more. Maria i think its also important to recognize that when we were in the dotcom boom and the dotcom bust, we didnt know half of the jobs that would be created. So a lot of companies were adopting to this new Digital World<\/a> and that meant some jobs going away. We didnt know about coders, engineering jobs, we didnt know about people that mine and organize day a take. There will be jobs data. There will be jobs created that we dont know about yet. If you know how to work with robots, artificial intelligence, you have an opportunity. You have to become innovative and creative and inventive. Thats all great. Maria its about innovation ands skills training. Before we develop the skills, we have to have the right attitude instilled in children when theyre young so they have a love for learning and theyre not afraid of problem solving. Dagen i dont think thats the problem. I think the American People<\/a> have been sold a big lie by politicians that you need a quarter of a Million Dollar<\/a> education to be smart and accepted in this world hire out of high school Technology Companies<\/a>, hire out of high school. Maria and a get trained on whatever youre doing. You dont necessarily need that fouryear degree. Not everybody does. Still ahead, jobs in america, the september unemployment report is out were all over it. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. In the last year, of cybercrime every second. When a criminal has your personal information, they can do all sorts of things in your name. Criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your Social Security<\/a> number. [announcer] thats why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more. And if you have an Identity Theft<\/a> problem, well work to fix it with our Million Dollar<\/a> protection package. There are new Cyber Threats<\/a> out there everyday, so protecting yourself isnt a one time job, its an ongoing need. Now is the time to make sure that you have the right plan in place. Dont wait. [announcer] norton 360 with lifelock. Use promo code get25 to save 25 off your first year and get a free shredder with annual membership. Call now to start your membership or visit lifelock. Com tv 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. Thanks so much for joining us. Im maria bartiromo, jobs friday, october 4 top stories right now 8 00 a. M. On the east coast, jobs no america we are all waiting on september jobs report, it is out in 30 minutes time may very well be a market he o mover economists expecting 145,000 jobs created, in the month of september, with Unemployment Rate<\/a> steady at 3. 7 now this jobs report today, takes on more importance after real underwhelming date the numbers follow the weakerthanexpected data on manufacturing, on adp numbers, on the ism factory use all that below estimates we will have numbers, and we will see if that weakness is translating into jobs coming up markets right now, are lower dow industrials down 69 points on futures right now futures for the s p down 10 nasdaq futures right now down 19 a quarter of a percent lower on major averages turmoil in hong kong, hong kong leader carrie almost a taking emergency measures banning face mavksz at public gatherings, to stem protests sparking fresh demonstrations china has facial recognition cream all over want to see who is active protests naifks off up macdonald to Chinese Government<\/a> joining me to break it down fox business Dagen Mcdowell<\/a>, moodys xhal market chief economist jon longski james freeman. Is it a carrie almost a moving wrong direction if moving toward more surveillance et cetera, waiting to hear how she is going to act the preserve hong kong traditional liberties. This week somebody got shot. This poor man got shot in the chest. And then they tinder it on him said oh he attacked cops first. Thanks are turning real violent in hong kong now. To remind you important dimension to this trade zoout no denying that no getting away liefshgd to do cybersecurity intellectual property theft so on. Big date to look at after golden weekends, of course, the celebration, of 70 years xhooust rule october 10, u. S. Chinese firms meet in washington, see if anything gets done, as the fires burn in hong kong, top story is jobs number jobs friday, september jobs report out 25 minutes economists protect 145,000 jobs added to economy last month the Unemployment Rate<\/a> hold steady 3. 7 on heels of a wild week for the markets, the dow tumbled better than 800 points first two days of Fourth Quarter<\/a> market on pace for worst week since august 2 what are you expecting looking for what is most important in this jobs number. I think given the slowdown Business Sales<\/a> shrinkage profitability might be lucky to get 125,000 new jobs for september not too smfkt about employment want front until we conclusive evidence of upturn by growth of Business Sales<\/a> improvement in profitability. You are way below the estimate, j. P. Morgan 125,000 overall estimates 145,000 what is most important to you this morning dagen. Dagen overall number 150,000 is the average for june july and august so if you come pretty close to that number a good sign. We only need 100,000 new jobs a month to sustain a health labor market kind of a bottom end of what you would want to see. Also, look watch the weakly work figures annual growth in average Weekly Earnings<\/a> trended down, peeked last year 3. 6 you have seen a loss of momentum there people are working fewer hours the fewer hours work that is troubling because again businesses tend to start reducing hours, before they really cut back in jobs. All equity equity market volatility is not Encouraging Companies<\/a> to take on new workers. Yes, we have had bad exhibiti Economic News<\/a> but job market has been employers not being able to find as many workers as they want to hire so i think that is going to be interesting, looking at the Different Industries<\/a> this this report also are there people coming back into the labor market do we see a bigger labor force more participation in this report . Because while we have gotten some soft signals on manufacturing, on Services Stock<\/a> market looking forward, hasnt been as optimistic all the labor market data to this point a workers market there are lots of jobs employers are trying to find people. To fill them and will be interesting to see the more of those people decided to join labor force. Or the opposite. Or opposite. If a pullback given weak data we have seen i want to see what this means for the Federal Reserve<\/a>, right . We are expecting another cut in rates, this year. Does it happen in october does it happen in december . We will see what number says. Dagen doesnt matter, to the market, because that ultimately does that pull more people into jobs that are open . Do those jobs never even get filled . Because a lot kind of one of the broad messages that you hear from economists is because we have seen this big drop in, say mortgage rates, that the refinancing boom will cause the economy to bump back up starting in 2020. There is a lot of hope being being pinned on that that money will flow back into the economy and lift what has been again softness not just manufacturing but in services and even some softness in consumption for the recent month. Point out boeing situation gm strike big issues as far as manufacturing so i am not looking at the manufacturing numbers this week, as totally cut and dry, because of the boeing pullback. Dagen ism contracted in august as well Manufacturing Index<\/a> we have seen a big, slowdown we have talked about on this program a slowdown in job creation, in manufacturing. And we should point out 4,000 jobs is expectation on manufacturing this is going to be critical, to watch it was 3,000 in month of august. So again stability there is important given news this week. Retail numbers see what retail does given strength of the consumer a what do you want to say. Lets not forget ism Manufacturing Index<\/a> contracted five months 2015, 2016 profits recession fortunately that recession was contained did overall economy perhaps, we will have a repeat of that this year. Dagen policy does matter trade policy, that is why this meeting with the chinese officials is going to be so critical. Because the white house, and the government are in a situation, where they cant make any mistake. The average federal funds rate 2016 was 0. 4 still 1. 88 behooves fed to cut rates come october 30 at least by 25 but as pointed out the problem is not that rates are too high the problem is people are concerned about trade. I yeah. I am not saying wont cut but i think they are going to find continually that is not the solution to the problem. Right. The solution is trade peace in a encouraging people to start investing again. You know about trade we had somebody on earlier talking about airbus complaint that was filed in 2004 got resolved, 15 years later trade disputes can go on for extended period of time. A lot coming up in 8 30 number Mark Zuckerberg<\/a> feeling burn facebook ceo, has as net worth 62 billion dollars, speaking out against the billionaire wealth comment that Bernie Sanders<\/a> made listen to this yesterday. I dont know if i have like an exact threshold, on on what amount of money, look, some level no one deserves to have that much money. I think if you business is good, and you you get rewarded but i think some of these, um some of the wealthy to be a accumulated is unreasonable. This was this was in response to Bernie Sanders<\/a> comment that there should be no bin i know airz in america claims cap list to my is dead told panel in San Francisco<\/a> not just about making money has to be more than that 6. 2 billion dollars himself, then, of course, this is on top of the business roundtable, decision, to come out and say look, we are not going to put profits first, we want to put communities and employees first jairjs freeman. It would be nice if we could rely on ceos and Big Companies<\/a> on people who have made fortunes in america with free market system to defend it sadly, we cant. So we hear a lot of political maley mouth like you just heard from zuckerberg the fact is what bernie plan is going to do it is going to take a little bit of zucks pile every year, but what it is going to do most of all, is is encourage the next zuckerbergs to locate somewhere else. Exactly. Because it is bernie sets up 60 exit tax. If zuck wanted to leave with money that can be a big barrier but message to every person starting a new tech company is you do not want to be based in the United States<\/a>, because if you hit home run by giving great products we all enjoy, it is going to be plundered. Pushing money off the america a rise of bill i dont know airz in china not america. Dagen Companies Got<\/a> rid of wealth taxing russia going to open doors to american innovation, Something Like<\/a> this goes through, by the way, i there i this is unconstitutional exit taxes never is against the constitution. Maria as we saids confiscation. 401 k plans remind us you dont have to be rich to be hurt by wealth tax. Good point the question what is rich is 250,000 dollars rich is that is that the top level that is going to hurt a lot of people we will take a short break when we come back special coverage of the september jobs report the entire hour with official numbers coming out in about 15 minutes stay with uss were checking out if a Market Impact<\/a> and then act of patriotism nevada highway principal trooper stopping on side of a highway out of respect for fallen American Flag<\/a> we show you next, stay with us. Our 18yearold was in an accident. When i called usaa, it was that voice asking me, is your daughter ok . Thats where i felt relief. Were the rivera family and we plan to be with usaa for life. See how much you can save with usaa insurance. Ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. Retu home. Maria welcome back, Hong Kong Government<\/a> taking a harder line against prodemocracy protesters Cheryl Casone<\/a>. Cheryl hong kong leader carrie lam banning protesters from wearing face of mavksz violators face fine more than 3,000 u. S. Dollars up to one year in jail emergency order coming four months after demonstrations began over extradition bill now withdrawn. Well, shares of General Electric<\/a> lower down 1 1 4 this is after j. P. Morgan analyst said ge aviation you be the isnt worth as much as wall street estimate it is we believe this is justification for materially lower equity value in businesses close to best days being behind it than in front, there is this the navy Highway Patrol<\/a> trooper hailed a hero for saving American Flag<\/a> driving on highway 15 in las vegas spotted flag on side of the road hops out of patrol car picked it up as you can see, brought the flag to local American Legion<\/a> post will receive a proper retirement ceremony, but, you know, seeing flag he had go and get it. Maria i like that cheryl thank you. Coming up we are a few minutes away from september jobs report we will slip in a short break then what you need to know ahead of jobs number markets down 74 points s p down 10 nasdaq down 21 before the september jobs report. Back in a minute. dramatic orchestra performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. This is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. Liberty mutual customizes your car insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty sometand with theall screen Xfinity Stream<\/a> app, which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Keep what you watch with you. Download the Xfinity Stream<\/a> app today and get ready for Xfinity Stream<\/a> tv week. Watch shows like south park and the walking dead october 7th through 13th. Maria wrel well the september jobs report due out in a few minutes economists expecting 145,000 jobs added to to economy in the month of september Unemployment Rate<\/a> steady at 3. 7 joining us right now all handson deck chief workforce analyst Joanie Courtney<\/a> with the wall street journal Senior Writer<\/a> Jon Hilsenrath<\/a> here former board member coauthor patrolmannomics Stephen Moore<\/a> joining us Wealth Management<\/a> senior Vice President<\/a> Lisa Erickson<\/a> thanks for joining us lisa kick us off here, are you are your expectations right there with the other economists out there 1 what do you want to see today . We are we are expecting a jobs report very much in line with recent prior reports last few months basically, expecting to see some nice payroll numbers even though it is going to be slowing a little bit from prior gains, and then on the side expecting reasonable health increases in wages not excessive levels. Jon hilsenrath how important is this report, to the Federal Reserve<\/a>, and what are you expecting in terms of the rest of the year in rate cuts . I think this report is very important to the Federal Reserve<\/a>. And i think it is very important for everybody, because you know the job market is what is keeping the consumer strong right now if job growth slows it could affect Consumer Spending<\/a> slows all economy, i you think fed will be watching very carefully a lot of momentum seem slowing suggests we will get at least one more rate cut. Stay where you are a short break then september jobs report right after this, stay with us. 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So, how can we change whats possible for you . There are things we would change about work. So, how can we change and there are things we wouldnt. When work is worth it. Work is worth it. Work can be closer to home. Pay more. Make us proud. Careerbuilder. Work can work. Find your work at careerbuilder. Com maria welcome back, good friday morning. Thanks so much for joining us. Im maria bartiromo. We have breaking news this morning, september jobs report is due out in three minutes time economists expecting 145,000 jobs added to economy in if september, they are expecting Unemployment Rate<\/a> to hold steady at 3. 7 this follows weakerthanexpected data on economy manufacturing as well as adm ahead of numbers futures trading down dow futures indicating a decline 74 points s p down 10 nasdaq down 21 all handson deck this morning to identify where jobs are in this economy and are we seeing this weak manufacturing data start to show up in jobs . Steve moore with us final thoughts before number what is most important. I will be looking maria at bluecollar jobs what happened mining manufacturing construction, those are the ones that show a lot of weakness the other thing i will be looking at what happened with wages and salaries, the consumer is really carrying the economy, over the last three or for you mince because of big wage gains see if that exonerates. Maria wage growth has been something that has been a portion in slowdown. Huge. Maria 03 plus courtesy where are jobs right now . Maria you know the job market has actually never been stronger, like if you look at today, there is over seven million open jobs in all sectors the challenge still on supply you know side. We have an extreme labor shortage and there is other factors, of course, you know with trade, and, you know, employers being cautious but we do see that the demand is very strong. There is probably some softness in manufacturing, and retail, but trade, logistics transportation, the professional Business Service<\/a> Sector Health<\/a> care, they are all thriving, and adding a lot of jobs and having a hard time finding talent so i think we will see wages move again, in in the job report. Maria you think they move up you are saying . I think they are going to move up, this report will show us the average hourly worker i know we see with customers we work a lot in supply chain manufacturing logistics the wages are moving up, monthovermonth. Maria manufacturing all the time dagen slowdown there but Services Index<\/a> yesterday also showed weakness Services Economy<\/a> not really something you want to see. Dagen absolutely looking at Different Industries<\/a> in this report also the Unemployment Rate<\/a>, the downward momentum Unemployment Rate<\/a> seemed to have epd police departmented to oened ended there arent lay oversees happening looks lake pullback in hiring not necessarily layoffs, is that what you think as well. Hope that remain case would i become very worried if we began to see a rise by Unemployment Rate<\/a> in the past that indicated impending session. We will watch that estimates call for 145,000 jobs added to the economy month of september, with Unemployment Rate<\/a> steady, at 3. 7 , the number is about to come outlets get to Edward Lawrence<\/a> Labor Department<\/a> with the number. 136,000 jobs is what this economy created 114,000 in private sector, 22,000, in the deposit Public Sector<\/a> the Unemployment Rate<\/a> dropped to 3. 5 . The last time iment was that low, was when we landed on moon 1969 in that year revisions up for july and august 7,000 jobs added, in july, revised up in august 38,000 jobs, for net revision up 45,000 jobs u6 is 6. 9 long term unemployment little changed still 22. 7 unemployed average hourly wages no change monthtomonth that brings the last 12 months, down to 2. 9 increase in wages Labor Force Participation<\/a> rate unchanged 63. 2 average hourly workweek unchanged nonsupervisory wage did grow 4 cents. 2 increase monthovermonth white Unemployment Rate<\/a> 3. 2 black Unemployment Rate<\/a> 5. 5 , hispanic unemployment low of all time keeping stats in 1973, 3. 9 asian Unemployment Rate<\/a> 2. Of job Sector Health<\/a> care adding 39,000 jobs manufacturing losing 2000 jobs, mining a hundred jobs retail 8 months in a row declined 11,000 jobs down construction, adding 7,000 jobs, interesting to sector transportation and warehouse added 16700 jobs bottom line Unemployment Rate<\/a> dropped to historic lows 3. 5 , we added 136,000 jobs. Wow it is a little lower than estimates, but, to me this is not a bad number lets get your reaction, james freeman. Especially with upward revisions from previous months this is pretty strong, Unemployment Rate<\/a> comes down, wages i would like to see higher but this is still faster than inflation so generally good news for workers, and i think the joanies point this is very health labor market good time to be looking for a job. Maria market completely reversed course jon dow industrials up 48 points it had been lower earlier. Why not move higher in market side because we had decline by Unemployment Rate<\/a> i mentioned earlier, each previous regs goirecession for years preas heeded by upturn by Unemployment Rate<\/a> that is not happening it is moving opposite direction, good news us. Dagen not for manufacturing where you had 2000 jobs loss there the to reinforce fares what is going on in manufacturing i know i know i know it no, that large a part of the economy, but is critical one, with Multiplier Effect<\/a> in good production, so again, maybe this bounceback in the the stock market futures at this point are related to the Federal Reserve<\/a>, this is weak enough that you get more aggressive fed cuts. I think it should be noted we talked a lot about that ism report, manufacturing when was not good the market pmi was more positive. So i think we are still in a a muddling through not clear that were really declining. Dagen gage not as old as ism manufacturing. True. Dagen we dont pay as close attention to it. You can. Maria. Go ahead, Edward Lawrence<\/a> one more get to him then commentary Jon Hilsenrath<\/a>, edward. Maria Federal Reserve<\/a> looking at those average hourly wages this is again downward pressure on inflation, does not look like inflation is sort of taking off in this market a that is something Federal Reserve<\/a> watches also Labor Force Participation<\/a> rate may signal rate cut more likely the next meeting. Maria do you agree with that Jon Hilsenrath<\/a> your reaction . Yeah, i think rate cut in october, is in play i dont think it is a done deal i think the fed is reluctant to move very aggressively right now. I mean i think what it is looking at is after todays report, basically an affirmation of the slowdown story, and contradiction of recession has slowed not near 200,000 numbers we are at a year ago down below 150,000. Economy is slowing affected wages but there is nothing in here that points to recession, there has been a lot of worry, about recession, in markets i think that is why were going to see, you know why were seeing stock prices rebound. Maria i mean i dont think this range was so wide in terms of the estimates, you know 125,000 all the way to 180,000 something you said earlier, dagen but 136,000 is not so faraway from the estimate. You are still looking at job growth once again does indicate that it is not necessarily firing but a slowdown in hiring. That is correct, lets not forget this recovery is more than 10 years old it becomes increasingly difficult to increase payrolls like 200, 250,000 jobs, per month if only because you are running out of realmed available qualified people. Lisa what do you thick of this reaction, here markets rally big time weve been down 50 points, before the number dow industrials up 74 points nasdaq up 30. Yeah i think markets perspective this report is really just what the doctor ordered what you see is that you got some counter to slowing growth fears because job number was solid slower than prior year but not unexpected given the stage of cycle on the other hand you had wage growth moderate below expectations that allows the fed to again look at one potentially two additional cuts later overall i think a really nice report. I am curious though about the wage growth number it is somewhat low would you expect itity higher if underlying demand indicators were higher we will continue to watch that. What about that average Hourly Earnings<\/a> private worker unchengsed consensus up 3 10 of a percent a disappointment. Yearoveryear at 2. 9 i think james brought up, 2. 9 going back below that 3 market still faster than inflation, but that softness there is a worry, in terms of the manufacturing to be fair, you have to factor in the gm strike and what is going on with boeing. I forget when gm strike started but survey would have been done middle last month, so we the report that they put out will probably dig into details of that. That range issue i think really is a puzzle right now you looked at mfib report yesterday Small Business<\/a> you see payers raising compensation to attracting workers still seeing very tight labor market why not even better news in terms of wages i think is a puzzle people are going to be working on. We are looking at average wage growth i cant help but note that right now, the the percent of employment at least 55 years of age is at record high nearly 24 if it turns out, old eer employers tend to get smaller increases as you skew employment towards Older Workers<\/a> your naturally getting slower wage growth. August being revised upward good news for the august revision there, Joanie Courtney<\/a> steve moore your reaction to all of this joanie go. You know mariaive to say what were seeing on front lines with wages, is a lot more upward movement, and employers right now are being forced to be competitive, and pay more to the average i mean to hourly worker they have to having a hard time getting their jobs filled i think that is why we are not seeing a stronger headline number look at unemployment, being down, to 3 1 2 , so i am surprised didnt show up in report i will tell you we are seeing movement in wages, more on the front lines, i expect that trend to only continue. Because there is not available talent to meet demands that are out there, so that is a little bit of a mystery, i think in this report. But, again, it speaks to the strong job market i think manufacturing is another story, certainly there is softness in manufacturing, we have to you know, get back focus on creating manufacturing jobs, in america, i love that you had employers on this morning they all said you know they are hiring. Maria by the way one of the entrepreneurs first thing she said in terms of expenses that we have to keep raising wages, and you know said we want to but this is this is what we face, in america, higher wages. Along the lines challenge they have. Maria exactly. I want to add if you look at u. S. Government aggregate ste. S for profitability what has been squeezing being profitability faster growth Employee Compensation<\/a> growing faster than what they call corporate debt revenues. Steve moore jump in here. So look the headlined here is for four months all we have heard is recession there is no recession be very clear about that, weve had really strong, i know, what i believe very strong job growth given where we are, in the recovery given the fact that literally employers are ring out of workers, by the way, these wage numbers you know i was reporting on census, wages numbers they are showing gigantic increases in peoples income in both july and august, huge increases that explains why people are going out and spending look this is this is we keep hearing the story of recession never sign except weak manufacturing numbers incomes are high plenty of jobs i agree with what others were saying this is single best job market for a worker in any of our lifetimes anybody can find a job with any skill in 48 hours. Coming off highs showing reversal from weakness dow industrials up 32 points daying when an strikes but this number. Dagen that it is good enough that the economy remains stable, but it is soft enough that the Federal Reserve<\/a> will cut Interest Rate<\/a>s. So it is this this perfect scenario. Maria goldilocks economy once again. Dagen exactly i want to point out something steve we dont say recession is coming but it is legitimate others do though. Dagen legitimate to point out things historically bhoofb woresome to investors woreisome to financial world when short term Interest Rate<\/a>s are higher than longer term triple digits that is something. Because the fed is that is because the fed is too tight. Dagen that is what i was going to say that is what i was going to say. You have to cut rates at least one more time. Maria Jon Hilsenrath<\/a>, not underestimating july and august both arrived upward good numbers for august 168,000 up from 130,000 july up, market reversed course check on markets gesture willis on the floor New York Stock Exchange<\/a> getting reaction there gerri over to you maria this is fascinating i am going to echo a couple things steve had to say, this is being interpreted as very good report coming into this report, people were increasingly negative here on the floor of the exchange seeing consensus numbers go downseeing numbers even though 136 is not 145, 145,000, they didnt care they see that as solid, and they like the revisions on august you mentioned very much a positive for these guys down here, that is one of the things that they watch closely. They say we are not in recession territory, that is the takeaway today that is why you are seeing, green on screen with futures right now. I want to get to another piece of information, more Economic Data<\/a> august International Trade<\/a> bigger deficit than estimated, we are not getting much Market Reaction<\/a> because we are still focused on jobs right now. But let me tell you this is something that the market has been very watching very he closely, this jobs report, for a view on the economy, the news down here positive, maria back to you. Maria gerri check with Jon Hilsenrath<\/a> what are you looking at. Two i think so that i want to mention, one is you know that Unemployment Rate<\/a> coming down to 3. 5 , that could be good news or bad news sometimes, it comes down, because people are leaving the job market. That is not what happened in this report, what we saw was a big increase in the measure of employed decrease in measure of people who were unemployed, so that is it is a strong underlying number 3. 5 i would also just when point out that trade deficit number getting worse so much to fix trade position so far at least it isnt working. Maria could i mention one other quick thing. Maria hold there it right here go ahead. It doesnt matter if we trading deserts we have had lots of great periods of growth while we had big deficits why need for further rate cut everyone kind of expects it healthy economy we dont see businesses demanding credit i think dagen snoons every do already strong currency. Dagen the Banking System<\/a> doesnt work when overnight lending rate is higher than i have the cost that you would earn on making a alone loan borrow short lend long when upside down doesnt help Banking System<\/a>. Built into Banking System<\/a> but i think clear that people should get a return on on their lending. Maria you would examine that go ahead steve. Here is where i disagree a little bit with james there is a shortage of dollars in the world that is the reason the fed has to you know lower rates to get more dollar liquidity you have huge demand for dollars the fed is not coming that growth does not cause inflation that is model the fed has been looking at liquidity for example. No there is something to that i want to mention one quick thing, the u6 number filed 6. 9 fell to we call real Unemployment Rate<\/a> i he remember when 20 u6 that is including people have parttime jobs cant find fulltime job or people becomes discouraged what this is telling us again over and over again, is that workers are are have all bargain power right now because literally employers cannot find the workers to fill these jobs, and you see that in that u6 number a beautiful picture especially with those revisions i think wall street is going to be very happy about the direction the economy ask General Motors<\/a> lisa jump in here. Again i think this is a really nice report. Obviously, we have all been watching some data trends would agree with it would appear we are not seeing signs of imminent regs a slowing trend the reinforcing number i think is very encouraging. Maria the Federal Reserve<\/a>, you expecting to cut, this month . We are expecting one more cut beforier end whether october or december i think this particular report actually he increases sooner that ran later wage growth reasonable not consensus level. Maria interesting reaction from markets we were down we were up now we are coming off the highs. When you look at the the job creation, within sectors important to point out manufacturing jobs did decline. Although you did have the Services Sector<\/a> looking real strong seniors producing up 109,000. 7,000 in construction, given how hard it has been for people in that industry to find workers, i think actually encouraging even though not in considering blowout number. I wrn about realm number jon a from bricks and Mortar Retail<\/a> employment went down i believe warehouse employment went higher up significantly could be as far as Consumer Spending<\/a> related jobs are concerned there is a movement away from retailing, to the the wear housing area that represents econsumers. I did not see health care on that streen K Health Care<\/a> jobs skro were up. Dagen up 39,000 jobs. Weep going higher. Go ahead joanie. If i could jump in for a second i want to say what we are seeing definitely the movement in retail, over to the war housing, trade and transportation and one thing that is a very positive positive indicator is we are gearing up for peak season with holidays and we are seeing there is more of a demand this year, than over last year, for workers, and employers are also having to increase their wages to even attract the talent that they need, to meet this peak season. So there is a very Strong Demand<\/a> i think they are feeling that you know consumers are still spending they are expecting a good you know qhave a good Holiday Season<\/a> want to take advantage of that misleading that retail number down but to jons point because jobs are moving now in delayed logistwear housing transportation Strong Demand<\/a> in that area right now. Maria wondering about Market Reaction<\/a> looking at currency versus dollar obviously, dollar has been strengthening but jon this market is coming off the highs what do you make of it . Well, i think it is taking a closer look at some of the data jon you were you tooking to sorry. I would think that as the day goes on market going to end up moving higher this is a jobs report that very much diminishes the risk of recession. Jon hilsenrath go ahead. Well i was just going to say i think this is one of the reasons the market is coming off is revising calculations for fed complicated right now, we have this slowing economy that supports a fed rate cut but, at the same time, within Unemployment Rate<\/a> 3 1 2 , are you have to ask why have heck should fed cut Interest Rate<\/a>s when unemployment is so low. A few minutes ago, s p 500 now negative you guys let me get tweet in president tweeted, here who is a president says on jobs report, he says breaking news, Unemployment Rate<\/a> at 3 1 2 drops to 50year low, wow america lets impeach your president even though he did nothing wrong, [laughter]. Dagen im sorry that is that is very i was on report. Dagen brilliant messaging because again if you are going to impeach this president you are anulling election anulling an economy that has benefited from the president s policies. There is a reason we havent heard one democrat hopeful talk about the economy. Talk about economy. Have you heard any of these people talk about the economy . They dont want to touch i want they dont want to touch it 50year low unemployment. You took about Green New Deal<\/a> talk with ukraine. President sed dont get impeached with economy booming richard nix owner one reason impeached economy stumping people felt badw about direction World Economy<\/a> bill clinton not impeached stock market booming remember economy great. Maria economy all. Bill clinton was intooechd by the house not impeached by house not by the senate. Maria . My point people are going to you know they can put this guy if jail if he gets these numbers going to either get reelected. Maria let not be little issues first of all, talking two different issues clinton was about sex, President Trump<\/a> had phone call with ukraine traimd last few years mad as hell about it. Dagen lets not get crazy about tuting trump in jail going to get reelected i want to bring this up with maria. So paul has a column here comes the trump slump. The president has only himself to blame. That is just a headline. What do you say what did he say on go allin, what did paul krugman said. Maria he said when does economy come back how about never krugman says never economy is coming back i went on air i said i would be buying in market with both hands i think this economy is going to turnaround on these policies. Krugman if he writes enough thinks people believe it we got data you dont the need to read we have data make zoeksz he predicted 8 of the last two recessions that is why he won a nobel prize. Maria yeah, um, well, look this is not a bad report 136,000 fractionally below what estimates are having said that things slowing down no doubt about it things are showing some slowdown how severe that becomes another question, but the Federal Reserve<\/a> right there ready to cut. We i think we what we knee not Federal Reserve<\/a> cut we need more trade resolutions like we got with japan recently, so anything else that can put to rest worries about trade, i think you are going to see this economy roar. We will see october 10 what is about everybody expecting from china meeting october 10 u. S. Chinese delegations together in washington. Dagen i can say with certainty there is no certainty i can say with strength and vigor i have zero idea what happens. Maria look i think both sides want a deal, Jon Hilsenrath<\/a>, but, you know, there is big items here will chinese stop stealing intellectual property . Well, you know, i think what this meeting coming up, i think there is a good chance that nothing happens. That they say they are going to continue to talk. But but there is no escalation in resolution so as far as the chinese go stealing intellectual speaker pro tempore what president is trying to do fundamentally change how they manage their economy they are just not going to do that overnight. Usmca jon is Peter Navarro<\/a> on show yesterday said if it doesnt come in the month of october it is not coming, and if it doesnt come it will be a disaster Peter Navarro<\/a> yesterday. Bad for u. S. Economy if they dont pass this through congress, at some we have to see what happens in that sense regarding china lets not forget china suffering more from trade dispute than the United States<\/a> we talk about chinese, economy slowing down slowest of i dont know how many years 25 years or something, but the best thing china can do for its economy to get it going again, is to come to some resolution, regarding this trade dispute forget monetary policy, fiscal stimulus get raid issue out of the way. What james and dagen have been saying this morning lisa do you have any models are these deals in your models in terms of what you are expecting from Economic Growth<\/a> inexperienced usmca, china . So were in camp that dagen stated we think that geopolitical issues including trade policy are very difficult to forecast so wl what we are just looking at to your point maria looking at incoming data basing our forecasts on slowing growing in indicators so we do feel like we are going to avoid recession what were seeing more mid cycle slowdown trade policy hard to predict could tip one way or the other. Yeah, we will see about that jon i know you have to jump fine words quick. The same as first words economy does disappear slowing recession talk overdone. Maria thank you so much Jon Hilsenrath<\/a> good to see you we are with Joanie Courtney<\/a> Lisa Ericsson<\/a> as always john frames freeman Dagen Mcdowell<\/a> any points you want to make in terms of these of what is ahead we are in a doorstep of thirdquarter earnings can ge intoet into that a second the Third Quarter<\/a> preach baked in cake we are going to see flat situation things is to pick up Fourth Quarter<\/a> but guidance is going to be critical. We have been saying we would love more wage gains for the American Worker<\/a> in this report flip side of that maybe corporate orientation get a boost from the fact wages not rising as equitably as we might have thought we will have to see that is potential upside on the earnings front where are we october 5 we are going to get the numbers, within the next week getting in earnest Third Quarter<\/a> numbers. I am struck by the slowdown in Business Sales<\/a>, that ban center 201 when trade dispute broke out slowed dramatically, weve to have some sense some strong reason to expect, that sales growth at least is going to pick up, once again, lets not forget, that for companies that have you say more than 150 revenues from United States<\/a>, they are showing Earnings Growth<\/a> in Second Quarter<\/a> was up 5 or so, for those were 50 revenues from outside United States<\/a> earnings shrinking 11 corporate earnings reports will give us some indication of what is going on, o globally and, unfortunately, the rest of the world is still lagging and that is something the Federal Reserve<\/a> has to take into consideration when they meet october 30. What if craig was right in terms of globe economy taking down the u. S. Economy he wrote really largely about the rest of the world. It is about rest of the world headwind from trade fight also weve gotten into a double whammy for an economy that is still growing, an old source of mine says asked question can fed easy with unemployment at 3 1 2 , the market still this can that way odds from seven to one to five to one, this was right after the report came out this came out about this note came out seven minutes ago, but again, the fed has room to act because short term Interest Rate<\/a>s are still higher thanking longer term Interest Rate<\/a>s number one number two because wage growth is muted 2. 9 that is below 3 number euro average Hourly Earnings<\/a> growth Federal Reserve<\/a> can move in here. Maria i mean, interesting because a good question, you are talking about a 50year low on unemployment. Whatever happened to the phillips curve . We are all wonky on us now. Wage inflation prices, goes up seems to be turned on heed, the Unemployment Rate<\/a> comes out look, i just want to make it really clear, the income gains that are coming out of the Census Bureau<\/a> are telling the exact opposite story. We are seeing huge, huge increases in wages and salaries and takehome pay of middle class workers. Im not sure i can square that circle, but they are pointing in very different directions. By the way, the fact that consumers keep spending at this brisk pace suggests they have more money in their pockets. I just dont actually believe this wage data. I think its not really capturing the increase in the takehome pay of workers. I just need to add, that number from the Census Bureau<\/a> youre talking about is through july. So were talking about hey, dagen, dagen, the august numbers just came out. They were up 800 per family which is like the biggest increase in five years. So youre seeing big, big gains in income. For some reason, its not being reflected in this wage data. Because this report, we have to remember, this is only the hourly workers, not the salaried worker. We are seeing Household Incomes<\/a> are going up. I think we are going to see it when earnings are released because it will be all the salaried workers and incentives and benefits, so that expense line is costing employers more and it is going to impact their earnings. Maria dont forget about the dollar. That will be an issue this quarter for sure, james. Whichever stats youre looking at, wages are up faster than inflation, people are highly employed. Life is pretty good. Economys in pretty good shape right now. Who knows how long this economic recovery might last. Ten plus years. Before we go, buy american. Look at the tag on the mattress, look at the tag on the clothes that you buy. Maria made in the usa. Dagen, john, james, stephen, jennie, lisa, thank you so much. Have a great weekend. Varney Company Begins<\/a> right now. Stuart, take it away. Stuart guaranteed we will have a great weekend. Good morning, maria. Good morning, everyone. Okay. First of all, the raw numbers. 136,000 jobs created in september. The jobless rate down, way down to 3. 5 . Wages up 2. 9 , year over year. A steady performance, how about that. The backdrop to it all is a, a slowing Manufacturing Sector<\/a>. B, a modest slowdown in the service sector, and a chronic slowdown in some other economies, notably europe. Tariffs and trade fights dont help. If impeachment Means Congress<\/a> does nothing, that doesnt help, either. So heres where we are. 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