Transcripts For FBC Mornings With Maria Bartiromo 20240713 :

Transcripts For FBC Mornings With Maria Bartiromo 20240713

God to be here. Maria investigation is turning criminal now dagen in terms of the origins to have russia probe, we are seeing more and more evidence of really exactly what went down as weve been discussing for the last 2 and a half years. Dagen ability to enpanel panel a grand jury and with bob mueller, the way special counsel worked, he couldnt report to congress, technically john durham would be able to report to congress, again, being out like keeping congress and the public informed about whats going on is going to be very important and flies in the face of what the democrats are doing in terms of this process because its not really impeachment. Maria youre right, we will talk more about that. Amazon stock down, profits fell 26 from a year ago, the companys heavy investment in terms of speed up shipment, the stock is off of the lows last night this morning but still looking at decline of 5 and a half percent, set to lose 40 billion in market value at the start of trading, mitch, your reaction . Free shipping isnt fro and we are figuring that out and cost as much as average 2. 90. We are realizing that, they have 101 prime prime customers in the Value Proposition for them we get stuff the next day or in some cases next day, thats really where the rubber is meeting road, no punt intended on free shipping. Maria a specific amazon story, do you think it speaks to anything going on in retail environment, we are in Fourth Quarter going into holidays . I dont think this was signaling that the consumer is slowing down. Heavy competition for ecommerce and theyre not only game in town and they have infrastructure that cost a lot of money so they can be competitive. Dagen to paraphrase a quote in wall street journal today, these investments historically pay off for amazon, shortterm pain in terms of the cost but longterm gain where they can take on competitors say a walmart, a leg up on walmart, one good sign was revenue was at 70 billion for the quarter, it was up 24 from the previous year, it beat analyst expectations plus we see, what is the stock doing in pretrading . Maria down 7 and a half percent. Dagen thats a sharp selloff because year to date the stock was only up 16 which wasnt really performing in line with the broader market, underperformed anyway, this is steep selloff for amazon, but there might be better, better hours ahead after trading opens. Maria we should point off this is off of the lows, had worst performance right out of the get when numbers came out. China is slamming Vice President mike pence, beijing saying critical comments on china were full of, quote aerogenes, hypocrisy and lies as the president calls tout nba, watch. Some of the nbas biggest players and owners who routinely exercise freedom to criticize this country, lose their voices when it comes to the freedom and rights of the people of china. In siding with the Chinese Communist party and silencing free speech the nba is acting like a whollyowned subsidiary. The Vice President needs to shut the hell up number 1, all American Companies are doing business in china, i dont understand why these wholly endowed politicians if they so want to worry about china, why dont they stop all transactions with china. Maria charles back i will on comments. I think what the Vice President is saying more reflective of the nba fans rather than what charles is saying, nba fans in the united states, hey, they are supporting the hong kong protestors, they like free speech and backing up nba commissioner. I think its interesting disconnect between what charles is saying and many of the fans in the u. S. Are saying. Maria because they dont Want Companies to roll over. The nba had a mixed response, initially they were like, look, this was a mistake, murray shouldnt have said this, we are sorry, and so then they back checked out of that and said we are entitled to free speech, you see lebron james saying he didnt flow what he know whae was talking about. A mixed opinion within the nba. Dagen people are not taking issue with the nba appealing to the chinese fans and doing business in china, it is what they did in terms of representing western values and standing up for Constitutional Rights overseas, thats the central issue. I understand where Charles Barkley is saying, stop by the way, the nba and adam silver and lebron james, theyve been their worst enemy in all of this in terms of the tire fire that they cant put out, and so i understand Charles Barkley saying, hey, hey, theyre trying to make it die down and they want no one else to talk about it. [laughter] maria they keep talking about it. Dagen not an issue of business and the president is trying to fix that, the president is coming to the defense of companies that want to do business there that theres never been a level playing feel for them in china. Hes trying to come to the defense of peoples whose jobs disappeared and retirement savings, corporations took jobs to china. Maria now looks like theres a binding agreement about intellectual property and china having consequences, if in fact, they break the promise that they are making in the phase one agreement, we will get more on that going into the apec meeting when theyre expect to go sign the phase one. Dagen just really quickly, Charles Barkley has a right to express his opinion because of where we live as did darrell maury. Maria exactly, thats what shaq said yesterday, shaquille oneal. John durhams probe of misconduct during runup of 2016 election has transition today fullon criminal investigation according to fox news sources, Griff Jenkins live in washington with the latest, griff, it should get interesting. Good morning, maria, shift to inquiry means that john durham investigating how the russia probe began will now have the power to subpoena witnesses and lets quickly look at what we know n may attorney general barr appoints john durham to do review, bob durham travel today italy to investigate and this past tuesday the probe expands we learned seeking interviews with former dni James Clapper and former cia director john brennan and theres a deadline approaching for doj to decide to charge Deputy Director Andrew Mccabe for lying to his colleagues, reaction in washington was swift, senator Lindsey Graham wants to know more. Tell us what happened with the fisa application, it was counterintelligence investigation properly opened, was there any wrongdoing by doj and the fbi, somebody has to watch those who watch us, but here is what you cant fix, you cant unring a bell, whats happened to President Trump in the house has done a lot of damage. But the chairman of the house judiciary and intelligence committees jerry nadler and adam schiff had this warning writing reports of raising new profound concerns that the department of justice and attorney general william barr lost independence and become a vehicle for President Trumps political revenge if the Department Justice of may be used of political retribution or to help the president with the political narrative for the next election, the rule of law will suffer nearly damage, meanwhile we also learned yesterday in a letter from the doj and Inspector General horowitz that his report is nearing completion coming very soon and dagen asked the question whether report to continue, of course, we learned the attorney general had regulations requiring a report to congress under the special counsel regulations and so one of the people that was there and will be now will be send say graham, a key player in all of, this we will see if he has more to say. Maria griff, we know he will start taking his own testimonies there in the Judiciary Committee once the ig report is out, Griff Jenkins joining us there, mitch, this goes back to early 2016, at the end of 2015 and the reason that the fbi started counterintelligence investigation against donald trump and Trump Campaign before he was elected and why, who put it in this publics idea that donald trump had anything to do with russia meddling and that is really the crux of this, the origins of the investigation, we knew that there were informants thrown at George Papadopoulos, carter page, surveillance done of general general mikan flynn and first person to get surveilled, all of the informants and wiretapping around the Trump Campaign to try to entrap them. And youve been covering this on sunday and here like nobody else, whats fascinate to go me, first of all, they are saying this is retribution for, you know, politicizing whats going on with impeachment, this is something that goes back to 2015, 2016, and i think the American People have a right to know what happened and the thing thats always been a burning question for me, if they were eavesdropping, surveilling what did they do, spying on a campaign is unprecedented. Maria one of the real broker throughs i think they had when will bum barr and john durham went to italy, we know that the diplomat, quote, unquote, who gave the information to George Papadopoulos, russia has Hillary Clintons emails and that began this conspiracy that they, you know, they were hoping he went back to tell donald trump and try to get donald trump involved in russia having Hillary Clintons emails. She didnt, by the way. Dagen a lie according to according toes to the mueller team but wasnt charged for lying, when it is a crime and some people have been charged. Maria a lot of lying and leaking going on so you have to ask yourself why wasnt he charged, was he in fact, an fbi informant and once we establish that alexander and others were working for western intel, then we have hear evidence that this was an entrapment, we are just Getting Started this morning, also on deck, interdigital ceo bill merit on chinas trade, we will get his take on, this chief of staff for Vice President mike pence marc short, Strategic Resource Group managing director talking amazon earnings, a lot going on, first coming up california in flames, thousands ordered to leave as wild fires once again tear through northern and Southern California this morning, plus the national down 2 games to zip, looking to pick up some ground in world series, game 3 tonight in washington, latest from the dc stadium, back in a minute. 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Its time to drop gold. Go digital. Go grayscale. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Maria welcome back, wild forces forcing tens of thousands of away from their homes once again. Cheryl tick fire in los angeles has now engulfed thousands of acres and threatening hundreds more. Smoking ash filling the air as Law Enforcement officers are checking on neighbors and going through neighborhoods. Up north the cancaid to cut thousands of residents, fire to 16,000 acres in wine country. Design flaws in Software System being blamed in final report of deadly lion aircraft, the report coming out of indonesia, criticized boeing and grounded 737 max jet over failed antiself system, the plane nosed down, 189 People Killed in that crash and 157 others killed in separate crash in ethiopia that involved the same plane type, boeing says it has been addressed, cost a billion dollars in revenue. Lets switch to intel, stock is up in premarket, almost 4 , outlook beating expectations intels data center cells also increased, group revenue, jumped 4 to 6. 4, that did top analysts, a stock that we will get, its been the second busiest week for earnings for the quarter and we are beating expectations for the most part right now. Maria absolutely, thank you, cheryl, quick break and we are focused on china trade, the country expected to ask for liniency, Houston Astros down 2 games, the Washington Nationals are winning game 3 of the world series coming up. I wish i could save faster. 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Paypal, rallying on positive results this week, 3m and twitter took a tumble. Joining us chief economist jeffrey cleveland, jeffrey, good to see you, thanks for joining us. How would you backdrop in terms of economic backdrop . The economy, nominal gdp growth rate, that still looks good, the consumer looks solid, weve got multidecade low Unemployment Rate, still nearly 200,000, very low layoffs, wage growth higher particularly on the low end of wage scale, if youre on the bottom percent isle, youre seeing 3 and a half to 4 in wage, clients are telling me 5 and 6 year on year wage figures that theyre offering up to employees to entice them to stay or bring employees to come in. Any given month or maria like amazon. We are on the right path and within the next week i think we will get another rate caught from the fmc and markets have it priced 90 chance, so i think we will have that, that will bring us to 3 rate cuts for this, you know, midcycle adjustment, if you will, and as long as powell doesnt say anything, you know, outlandish next week i think markets will really like that and continue to support the economy, we had global issues, weakness in manufacturing the fed cut 3 times and, maria, we avoid a recession for another 3 years. Dagen and the impeachment and russian debt crisis we had the impeachment of bill clinton of the house and the market recovered during the actual impeachment process after the starr report delivered in september of that year, the market it recovered all the losses between july and september of that year, its the backdrop thats important and not whats going on in washington. In fact, the economy is holding up growth numbers. You have to look at layoff numbers because we get that every week, for investors thats the key indicators, i i want to see those stay low, if they start to creep up, more concerned, right now that looks solid, the other thing, maria, that im watching dxy, dollar index or broad traded dollar, what i think happened here the fed hiked and that so much of the Global Economy depends on what happens with the dollar fed is Global Center that way, the fact that the dollar depreciated that impeded Manufacturing Activity globally. Thats what you saw show up in china. In europe starting to print money again, that will be bad for their currency and we still have negative yields around the world and people will keep buying or treasuries. Has come off, you have the fed cutting and the other thing the fed is doing and interesting to see next week how powell handles this, but the fed is also growing its Balance Sheet, the ecb as you mentioned opened up and buying bonds but the fed is also in bondbuying business, they will buy 60 billion per month and Balance Sheet will expand, you know, some people call it qe, thats more liquidity coming into the market that cant be dismissed. How do we get a pickup in Business Investment spending, thats a point of weakness and point of concern for a lot of people . We reneed to solve the political process in the uk, they need to solve brexit and i think you need more certainty or less uncertainty rather on trade here in this country because what we find, the uncertainty about whats going to happen in brexit, you know r they going the stay, are they going to leave, is it going to be a hard brexit or soft brexit, we have an office

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