Transcripts For FBC Mornings With Maria Bartiromo 20240713

Lots to talk about this morning, once again we follow the bouncing ball of the china story and overnight we are learning that both sides said they would be willing to roll back tariffs, interesting. Devil is in the details, this can be very good, imagine how much markets might soar if you, in fact, do get this first round deal with china, very good news for investors. Maria we have a rally underway right now, futures indicating doubledigit gain, on top of all 3 major averages closing in record territory yesterday over optimism in deal with china, u. S. And china, s p was up 11 and nasdaq up 46, washington and beijing considering rolling back tariffs of completing phase 1 of much larger agreement, President Trump spoke about that in rally last night, listen to this. China is doing poorly as you know, but they are paying billions and billions of dollars and theyve never given us 10 cents before, billions of dollars, they gave a lot of the money to our farmers who got targeted but no longer, they are back buying from our farmers, they want to make a deal so badly, frankly, honesty, they want to make a deal a lot more than i want to make a deal, thats the way it is, we are doing very well with china. Maria we will see where this goes now. Dagen the Financial Times was reporting earlier that the administration was looking tat tariffs of 15 , 111 billion in chinese import slapped on starting september the first, retailers, apparel producers push back on those and the journal follows up and says those are the tariffs, the levies that officials are considering rolling back, but, again, its a sign of good faith and we are better than the rest of the world if you look at global stock markets, s p 500 year to date is up 23 that beats europe, china and the emerging markets, only up 10 , doubledigit gain nonetheless, every single sector of the s p is up year to date and its those highgrowth some say expensive sectors that have done well. Maria all we heard the recession is coming, the recession is coming. No recession, kind of silly when they were saying that the inversion curve was going to lead to some kind absurd. There is because theres slowdown in the world in general, the United States keeps rolling along with Consumer Spending high. Interesting to see trump is always negotiating for america no matter what hes doing and no matter where he is, even if hes talking to people in kentucky, hes talking to xi jinping in china, always negotiating the deal. Maria he really is, youre right. Dagen i would push back on the inversion of the yield curve, historically been a sign that recession was on the horizon, what the Federal Reserve did, looked at it maybe with push from the president and said we need to get shortterm rates below longerterm rates because banks cant make money lend if you have the inversion and thats exactly what happened, the fed has cut again last week and you finally have a field curve thats flat, certainly not upside down anymore. You always have to ask why is the yield curve inverting, we had demand at the top, so it took many out of the market which drove Interest Rates down on the 10year and then you had the government trying to finance itself with 2 , im sorry, the 2year, but with the low end, so you have other factors driving that yield curve and so it wasnt the the economy continued to do very, very well other than as you say Manufacturing Business investment isnt where we would like to see it because the fed took a lot of the enthusiasm out of the market. Maria look at the jobs numbers on friday. So good. Maria gm strike, the boeing situation, the number better than expected. You talk about where is the recession we were talking about, its not here, china to the president s point in the speech is really struggling, so he has rated much more leverage than anybody expected in terms of being able to go back to china and say we need you to make some real fixes on the issues we care about. Maria unbelievable while the democrats are knee bent on china, get him out of office, he keeps going and going and i think and rallying, look at him last night in kentucky, the president in the bluegrass state ahead of tonights governtorial election. 158 million americans now employed, the highest level of employment in our countrys history. Under my administration weve added nearly 10,000 new factories and many, many more thousands of factories are coming into our country. We slashed the Record Number of of jobkilling regulations, we ended the war on american energy, we are now the largest producer of energy anywhere in the world by far. Dagen stark contrast, whoever is the nominee and the president because its not just about the millions of jobs, its not just about keeping Energy Prices low, its about our security as a nation and our ability to dominate and be the worlds number one producer and take power from those nation that is hate us, take power away from russia, we can go to the middle east and take hard stance because we are no longer at the mercy with iran that despise us and want to wipe us off the map. I get so excited and i think ive talked about this for 20 years and finally we will see it happen. Maria california pushes back and pushing back and look what it has done to grow and things that people care about in their lives, okay, meanwhile uber, thirdquarter miss, thirdquarterly lose despite increase in revenue. Uber ceo giving timeline in profitability, in 2021. Company cut Sales Forecast sending stock lower, 17 , andy, whats your take on this given the space, the burger space has expanded competition. In and out has the same thing out west. Maria are you . People are saying, look, you them in st. Louis, everywhere across the country, maybe they are becoming more like a chain that could be impacting sales, we were talking a bit off camera, they are trying to do a deal with one delivery service, you have at least two. The more you have, the better you will do with delivery. Look, this is an industry that will continue to do well, shake shack has to change image a little bit. Maria booming situation, unemployment at 50year low and you see a restaurant like shake shack down 17 and weaker than expected earnings. I think it has more to do than the competition in the space. Maria shake shack problem . Exactly. An individual firm struggling with samestore sales may have nothing to say about the broader space which is just thriving with all the new options consumers have. Dagen its like popeyes, shake shack, am i going to stand in the line or get the delicious sandwich . Maria the lines are around the block actually, one situation turned fatal with the chicken sandwich which is just incredible and there was mcdonalds as well, what was your take on the mcdonalds story, ceo out, new information the hr person is also out . Yeah, i think that wont affect their sales, i dont think that will affect stock price, mcdonalds always promote from within and they have a whole raft of people, they have a good maria we will talk more about mcdonalds, so widely held, i have to get your take on whats going on in mcdonalds, on deck fox news senior strategic analyst and retired four star general jack keane on iran stepping up its uranium enrichment, former Arkansas Governor Mike Huckabee is here on latest impeachment news and former defense and economic under Angela Merkel joining us, first ecb speech, a lot to talk with europe, in europe, stay with us for all of that short break, when we come back, more changes at the top in mcdonalds, another executive is out on the heels of ceo being fired, details next, the stock is up half a percent, party at the white house, Washington Nationals meeting with President Trump days after historic world series win, new ask maria segment, ask me on instagram, twitter, my answer is coming every friday right here on mornings with maria, back in a minute. 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Lauren xi jinping speaking at trade event in shanghai event today and backed up lams effort to end violence that rocked the city, the support comes amid concerns that beijing was about to replace lam who faced criticism over extradition bill, the bill has been withdrawn, another highlevel departure at mcdonalds, Steve Easterbrook was fired for having relationship with employee. Easterbrook will get 600,000 of severance pay, Pay Attention to mcdonalds stock today. You saw him wearing a different baseball cap during the teams visit, theres the maga hat, first title in franchise history calling it a comeback story for the ages. Did you guys see this . A black cat still on the loose in Metlife Stadium in new jersey, ran on to the field last night and caused 2minute delay during the giantscowboys game, the cat disappeared in the seats, the giants say once located it will be taken to veterinarian to be examined and black cats bring bad luck for the giants, it was a lot of fun. Maria its the cats fault . Lauren i dont know, maybe. [laughter] dagen he got to canceled on twitter he made his twitter account private. He had to protect his tweets. Maria really, there should be a law against that. How is it shaming constantly going on, i mean, its wrong. He cant put a make America Great hat . At celebratory event with the president , i dont see why people cant look at that and say, i get it, i understand what hes doing here, im not going to cancel. Maria so what . He can have his own opinion. Dagen the hat hurts my feelings. [laughter] maria back to mcdonalds, you know, lauren is just reporting, it was a consensual relationship, hes divorced, he wasnt cheating, the hr person probably said its okay, nothing is wrong here, right . Hr person is a friend of his and probably advised him that this wasnt something that needed to be concerned about, obviously the board of directors felt that the ceo having a relationship with the too bad he had to resign, i dont think it benefit it is company, like i said, they have a strong bench and fill his spot. Dagen if youre a ceo everyone is a subordinate. Maria hasnt he done such a great job at mcdonalds . Its inappropriate to have a relationship with subordinate. He is divorced. Maybe current political climate, maybe they felt they couldnt get away with slamming him on the wrist, i disagree. Maria market value as well. Not smart. Maria take a break, easing the chaos, Los Angeles International airport, lax ready to make it easier for passengers to catch a ride, earning season rolling on, pharmaceuticals among big gains reporting today, full analysis of thirdquarter reporting season when we come back. 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Maria welcome back, good rally underway this morning, take a look at futures, indicating gain 72 points, dow futures up 70, nasdaq futures up 23, this is all gravy because this is record territory yesterday all the major indices hit record high amid a better than expected Third Quarter earning season, earnings driving the story for the most part, cut in Interest Rates as you know and great jobs numbers on friday, we are waiting results this morning from pelaton, we will get the numbers as soon as they hit the tape. Chief investment capital. You were somewhat cautious when we saw you. 6 months ago, heart in trade war and obviously things were escalating, you saw cap x drop and we said recession was extremely low, classic setup last year as we were talking about good Economic Growth and the fed was sucking out of liquidity markets and earnings and multiple compression, this year you have the exact opposite, Economic Growth slow, fundamentals be weak but because the fed cut rates 3 times, you see massive inflation of assets including equity. To put it in perspective, december 24th, 13. 6 multiple, roughly 17 and a half based on 11 earning growth next year, certainly a year for the ages, a lot of upside in all assets, the biggest issues for investors, look, the fed policy shift has worked too well, everything is expensive again. Many assets were cheap, 10year on 1. 8, fixed income is expensive, highyear bonds only 3 loss suggested yield and equities 17 and a half times earnings, a mature adults looks at that and says we want to be looking forward. Maria they make it more expensive. Thats what they are doing. Does the fed right now, the fed bungled things so badly, do you think they are in a place that supports Economic Growth and supports the market appropriately . So, if you think of the fed, the fed is looking at much slower growth, they want to make sure that Financial Condition tightening does not exacerbate that, given the backdrop they are in a much better, they are not sucking liquidity and dollars out of the system and fed fund rate thats supportive. We think the pivot has been successful and from here they will be very data dependent. Maria let me ask you about the hedge funds, whats going on with the active management space out there because yesterday we learned that elliot has raised 2 billion for buyouts, theyve got 4 billion in hedge fund push, elliot taken out big stakes in a number of companies, the firm announced plans to raise for hem funds and raising 2 billion just for buyouts . Yeah, look, i think in general its been a tough period for active management and equity part of the capital structure and for hedge fund its been no different. Most of the opportunities for ourselves and folks like elliot are really focused on now are more tied to Consumer Credit or other alternative credit sources, elliot does have the ability to go after companies more specifically in one of successful activists over time, unfortunately most activists several years ago stumbled because of overfocus on value and certainly thats one of the alpha drivers for the bigger firms to take large positions and hopefully not have pg e and outcomes. Maria their most recent, they have 6. 7 stake in public group of companies and agencies, is there a theme that you think is going the take place in terms of takeovers, is there a sector that is more poised than others in terms of consolidation . The one that we have been focused on particularly since regulation was roland back from executive branch further consolidation in the banking industry, if you think of where the caps, basically 750 billion, so what you have seen slowsteady progress, banks are still very cautious. Unlikely we so a big boom, but something that we are waiting maria you are talking about the smaller banks. Community and regional banks. Maria okay. Dagen speaking of hedge funds can i give my friend greg zuckermann a shoutout, quite known writer at the wall street journal, he has a book out a man who solved the market and jim siommons who sold renaissance, i tried to buy it, one of the most fascinating stories, but jim simmons. Has done a great job. Dagen have you read it yet . I have not, success for if you look at renaissance and other firms, its very hard to continue to update models and not data fit. Maria yeah. So data fitting is when you add too many variables to your models and data and you get blasted, so one of the things that they have done successfully evolved their variables and we all know that markets evolved but doing in a way to avoid data fitting, it sounds simple but very, very hard. Maria doesnt sound all that simple, by the way. [laughter] dagen jeff bezos went before he started the Little Company called am done. Maria he started with books, goldman sachs, wealthiest clients to invest in the u. S. As opposed to the rest of the world, goldman telling on u. S. Equities. We 100 agree with that. Unfortunately europe is stuck that they have been since euro zone crisis, they did have good growth since 2017 and since then downhill, from a nonultra case, we like the u. S. , the other part thats important if we get a downturn, lets say cap x keeps dropping, we start initial claims popup, theres no environment now where the u. S. Has downturn, where the rest of the world doesnt get taken to the wood shed, when that happens, europe will offer and its very different than precise sis period, the crisis was a u. S. Problem, u. S. Housing, u. S. Consumer that exported to the world, this is an issue if we these the world will get pneumonia. Maria troy gayeski. Why the emily emerald city, thats next. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on 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. People think my job is easy. 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Thats why we go beyond the numbers. T. Rowe price. Invest with confidence. Maria u. S. China trade tensions appear to be easing, kinda wants to make a deal and some tariffs could be rolled back on both sides to get the deal signed, we will tell you what happened overnight, markets are trading over that. Ready for another record setter this morning, dow industrials up 60 points, s p futures up 5 and nasdaq futures up 19 and a quarter, thats a quarter of a percent higher on top of yesterdays record move pushing all 3 major indices to alltime highs tat close, get, this the dows 91st record close under President Trump, up 115 points yesterday on the dow, checking Global Markets this morning and we have a mix story, s p 500 up 20 points and dax index in germany is lower, it is down 1 point right now, stocks rallied over night and hang seng, hong kong up half a percent, at least japan bounce back after the holiday or the day before and nikkei average was up one and a quarter percent, election day, key races today and what it could mean for the 2020 president ial election as well which is less than one year away, chaos at lax, find out what the Busiest Airport doing, a group of young hackers say they are the good ones, one of them joins me later this hour, we will talk about that. All the stories coming up Tuesday Morning, first top story this half an hour, conflict in iran, iran stepping up uranium enrichment breaking from the limitations of the nuclear deal this as President Trump is imposing new sanctions on iran targeting the inner circle of iotola including one of his sons, iran has slammed the sanctions calling them desperate, retired four star general fox news senior strategic analyst general jack keane. Thank you very much for being here. Glad to be here, maria. Maria what kind of retaliation could we see from the sanctions . Well, first of all, i think that the reaction that we are seeing is something that we have seen before, remember what the iranians play here is they want to get Economic Relief particularly from the european nations who are still in the jcpoa namely the uk, france, and germany by busting the restrictions imposed by the jcpoa and nuclear deal, they are increasing centrifuges and violating them in violation of the agreement and they make disqualifying statement, however, we will come back in compliance if you provide us with Economic Relief which they believe is justified because the United States who broke from a nuclear deal is imposing sanctions on them. So i dont believe the europeans are going to fall for this because they have not fallen for it before, that means the sanctions are going to steady increase on iran just this last week, secretary of state and secretary of treasury imposed more sanctions on iran dealing in construction area as its tied to the Iranian Republic Guard Corp or irgc, thats squeezing them tighter, do i believe that we will likely see some military action by their proxies as we saw a number of weeks ago against the saudi oil fields, this is a play thats very important to them because it gets world attention and they want the world attention then to focus on President Trump to reduce the sanctions, and i do think theyll do Something Like that in the weeks to come. Maria they are also finding themselves in the cross hairs, the u. S. Imposed sanctions on 9 people connected to the iran supreme leader, so theyre actually going after the people who are connected, there were also clashes between Iraqi Security forces an antigovernment protestors who attacked the local iranian consulate, whats your take on the pressure on the ground . The pressure in iran is significant, power outages, everybody except the elites are being affected, high unemployment, spiraling inflation, theyve never had a challenge like this since regime came to power 40 years ago, so clearly theyre getting more and more desperate and those sanctions that you mentioned with secretary mnuchin, those are tied to rigc and Construction Industry thats a part of what they do, the second thing in iraq, its very interesting, in iraq tensions and grievances against the local government have been building for weeks and months because they just have not been able to provide government services, the people believe the government is fundamentally corrupt and they are correct about all of that but what they also are doing is blaming the iranians who are the power backers behind this government, significant influence and when the protests started back in october, maria, the iranians proxies inside of iraq took to the streets and began to shoot the protestors, they believe they killed somewhere in neighborhood of 250, so yesterday was a very significant event, the protestors stormed the iranian consulate in southern iraq. Maria yeah. Nothing to that degree has happened, last year they protested against iranian consulate, but thats significant event and just demonstrates the iranian the iraqis people frustration with iran and the influence they have in their country. Maria does this flair up on a military basis with the u. S. And what about the readiness of the u. S. , you and i have spoken about this before, yesterday the u. S. Secretary of the army joined us Ryan Mccarthy and here is what he said about the readiness of the military right now. Maria in terms of the readiness where you are, i know that the army was was really beaten down when you looked at sequestration and decline in terms of defense spending, now we are looking at increases for last 3 budgets. What we are concerned about is fiscal situation of a continued resolution, on day 33 today that we dont have a budget deal in place, the army has tremendous momentum and in jeopardy in selling out. Maria general, you were the first person a couple of years ago to take note on readiness and importance of readiness on the program and you talked to me a bit about the fact that some of our planes in the navy are not even flyable, there are real weaknesses within our army and navy, whats your take on where we stand as we are as he just said day 33, day 34 now of continuing resolution with no real solution to the budget when it comes to defense spending . Yeah, so iranians understand that continuing resolution is just another word for meaning, you can execute what was approved last year but given the fact that you do not have a budget for this year, then you cannot execute any of the new things that you want to do, so thats why it is so much opposition to a continuing resolution which is supposed to mean a temporary thing for a few weeks or a month, as it goes in fiscal year and what the services are trying to do, dig out of deep hole that we put ourselves in due to wars, budget and sequestration and we have a long way to go, heritage just came out and wrote a part yesterday saying the army only has 29 out of 50 required brigades that are combat ready, the navy has 290 shifts and the requirement is 400, the air force is significant short pilots and not flying all the airplanes that they have due to readiness problems and marine corp is 60 when the standard is 90 , the resolution puts on hold, maria, thats why the services will be frustrated until the Congress Finally passes the Defense Budget. Maria but i dont understand why, general, is this politics, do democrats not want to approve the spending to get our army and navy and air force back up to speed because they dont like what the president is doing . Well, i think thats part of it, i mean, what we are being told is the democratic opposition to approving the Defense Budget has to do with the money that the department of defense was appropriating for building of the wall. Maria unbelievable. Major issues that they are dealing with here, thats pretty frustrating because its a very small part of the overall Defense Budget which is around 738 billion, yes, so thats part of it, i think there are some other issues there that concern the democrats to a particular degree and hopefully they will negotiate this out and get budget out quickly. Maria until then we live by continuing resolution after continuing resolution, general, good to see you this morning, thank you so much. General jack keane there, the state of texas making progress on promise to clear out homeless camps overwhelming the city of austin, aisha live this morning, shes in austin, aisha. Good morning to you, maria, im standing in one of the overpasses in austin, texas that was hit by the state yesterday, they did the sweep inside this overpass and take a lock around, looks exactly as it should except for a couple of dumpsters full of stuff, but this is far, far better than what we saw yesterday which was basically like tent city in here, lets go ahead and show you the video now, we are talking about needles, feces, rats, makeshift weapons laying around and so fdot came and the rest of it, all went into the trash. The governor of texas greg abbott taking action after city leaders legalized camping on sidewalks and some folks are now applauding that he stepped in. I think you have to be naive to think that austin wont become the next San Francisco or la or seattle and nobody here wants to. Yeah, so these sweeps continued today and they will continue on a weekly basis, i actually got the speak with the homeless man who says you know what, hes going to go right back to the overpass. Im just going to go a block and then when they leave i will go right back. What have we solved, nothing, we just spent more government money, thats the only thing weve done. In the meantime, maria, the mayor here, the democratic mayor of Austin Steve Adler faces the threat of a recall, theres actually online petition circulating right now, signatures being added every single day. Back to you. Maria did you find out did you find out how he became homeless, the individual you just spoke to, i wonder what the overarching issue is, did he have a onetime event; a creeping problem where he became bankrupt or what was he forced to sell a house, did he never have a house . So theres a variety of reasons, the most often weve heard is that they lost their job, they fell on hard times but several of them actually, maria, have been homeless for years, i mean, we met one man yesterday who has been living under the same overpass for 3 years. Maria wow. Thank you. Aisha joining us there, easing the chaos at lax, Los Angeles International airport makes it easy for passengers to catch a ride, we will tell you how, and we will introduce you to team focused on good side of hacking, yes, theres a good side, we will be right back. Get a nofee personal loan up to 100k. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. 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Coast guard last known recoverable prisoner of war missing in action is back home in hometown of buffalo, he died in the philippines, he was buried in a mass grave, nearly 200 people welcomed to western new york, Los Angeles Times this morning reports after chaotic week lax to expand uber, lyft and taxi pickup lot, change coming after second Busiest Airport banned curb side uber, lyft pickups, expanded lot will be available tomorrow morning. Seattle area has undergone record growth now voters may reshape its politics, the region seeing its population jump by 400,000 with amazons workforce now near 55,000, survey before the boom shows residents care more about jobs and the economy, housing and mobility concerns now dominating. Short break, incredible rescue, watch as San Francisco worker safes a man moments before a train could hit him, watch this. Look at this. 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It started because in classroom students realized that they werent getting the education that they needed to be creative, teachers would give them instructions but they wanted more creativity involved, so what happened throughout the events, students will spend the first few hours with problems that are in the world, problems overseas with water pollution, or things within our own country with recycling programs, theyre going to be using Computer Science to build applications to solve these problems. Maria so youre hacking into systems to try to change things for the better, youre a professor, how would you like to have this in your classroom . I love it, number 1, this is a Community Oriented thing, so youre getting together and youre spending time together solving these problems, i think thats the fear a lot of people have, this is a very isolating experience, youre not doing it that way. Exactly, especially in our technologically field is so important, working in groups 2 to 4 promotes how to divide the work and figuring out what needs to get done so its really exciting, all the people that we bring together is free. And its free. Exactly. Thanks to sponsors we actually run a free event and one of our missions is to make it accessible for anyone who wants to come so we have our the event coming up very soon, we have people coming from connecticut, maryland, new jersey, new york, very exciting. Fascinating. Dagen a lot of Large Technology Companies Offer bounties, dont they, if you can yeah. Dagen find holes whether its their system, software, device, talk about that . Thats also another hackathon, they range in topics, Mission Statement to build a Hacker Community on long island with emphasis on innovation, entrepreneurship, so really kind of driving students to be creative and see how what they can create applicable in the real world. Maria you are learning the skills but what if a member of the group decides to do something illegal, when does it cross the line . Yeah, thats definitely theres something called the black hat hackers where thats those are the negative connotation to the word but for our events, for the purpose, we havent experienced anything like that, people are banning together in a community and its amazing too because even for people who dont know how to program whatsoever, so we have workshops and mentors throughout the events, students can learn on site, we actually have mentors from mit, berkeley, stanford as well as sponsors hosting the workshops on how the build websites, thousand build mobile applications, so really its for anyone and we want to really get people into maria how easy to hack into somebodys system . Yes, so its very dependent on [laughter] maria we want to know the truth. Yeah, its very dependent on kind of the situation. We depending on your skill set, projects can be all the way from beginner oriented all the way to more advanced, machine learn are big topic that is people use and those can go to the more advanced side. Maria you heard it there right from the horses mouth, wesley, thank you very much. Thank you. Maria we will be right back. Driverless cars, or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no commission vo the flock blindly flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. Maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, november 5. Hillary fifth. U. S. China trade r to be easing of President Trump said china wants to make a deal and some tariffs apparently could be rolled back on both sides to get this deal going. We will take a look. Take a look at futures, indicating a gain at the start of trading, ready for another recordbreaking day. S pes is up 5, nasdaq is up 20 points, quarter of a percent, on top of yesterdays record performance, pushing all three major indices to ill atime highs at the closing bell. It was the nasdaq 107th record close under President Trump. Global markets look like this, the momentum continues in some areas of europe. The fq100 is up 13, cac is up 8, as i mentioned, the german dax index is down a quarter point. Stocks rallied in asia overnight on the hopes of a china trade deal. The best performer was japan, nikkei average was up 1 and three quarters percent. Tap industry ocoach andkate span earnings, the sticks up this morning. Well tell you whats behind that. Demand for oil on the decline. What is driving of opec to lower its growth forecast. Google workers getting political again. Employees calling for the tech giant to end their contract with fossil fuel companies and stop funding for some politicians, lobbyists an others. Alls those stories coming up this Tuesday Morning. Joining me to break it down, dagen mcdowell, professor brian brenburg and the author of the book, the capitalist comeback, andy poseenvelope er ipose ner is here. Google employr voices heard once again. What do the employees have to say about th the a. I. Lab in ch, the a. I. Lab is in beijing. Employees dont have a lot to say about that. Dagen this relates to the point about fossil fuels an the geopolitical risk. Employees are not thinking two, three, four steps down the line. What does this mean globally. Maria theyre not fossil fuel experts . Not even thinking action and consequence, basic logic seems to be missing from this. What does it mean geopolitically. What these employers are doing is ridiculous. Its unpatriotic. No other country in the world with a company like google exists. For people with these jobs, its absurd. Maria they can thank america for the strength of google and the opportunity to grow and have independence and be able to walk away from the pentagon. Its outrageous, in my view. Dagen of to basically be a mob monopoly. Maria 0 90 market share. Dagen they want us to bippity, boppety boo our way to the grocery store. Maria i think the gripe is the a. I. Lab in china. The jewel of google is their Artificial Intelligence and they walk away from the pentagon because the employees balk at working with the u. S. Government and yet they set up the a. I. Lab in china as china tracks its citizens, using facial recognition to do so. Id like to hear what the employees of google have to say about that. You havent heard anything about it. Were going to get to that. Our top story this hour, voters are off to ballot boxes this morning. Its l election day in several key states. In mississippi tate reeves is running against jim hood, vying to succeed republican Governor Phil Bryant after two turns. In kentucky, matt bevin running against democratic challenger, andy bishire. President trump touted his progress in kentucky last night in a last minute push for bevins reelection. You see whats happening with the democrats. They have gotten crazy. The donothing democrats and theyre not getting it done. Under republican leadership, the economy is booming, wages are rising, confidence is soaring, kentucky is thriving like never, ever before and america is stronger than ever before. Under my administration, weve added nearly 10,000 new factories and many, many more thousands of factories are coming into our country. I announced a withdrawal of the United States from the horrible, costly, onesided, paris climate accord. On trade, were starting to set records every week. Were reversing decades of washington disloyalty, stupidity and corruption. Were replacing the nafta disaster with the u. S. , mexico, canada agreement. We are finally putting america first. And we are going to keep on winning, winning, winning. Maria joining us right now is former president ial candidate, former arkansas governor, mike huckabee. Governor, good to see you, sir. Thanks so much for being here. Thank you, maria. Great to be with you on this Tuesday Morning, election day. Maria ive never seen anything like this, the president gets just hit from all sides, from skeptics and from the democrats and he just keeps getting you and punch getting up and punching back. Hes a president unlike any weve ever had who is using his own Political Capital to invest in the races of other people of. No president , even though all of them will go out and do some campaigning, most of the time its more fund raising and a lot of time its very measured. They pick races they feel like they know they cant lose by investing themselves. This is a president who puts it on the line, day of after day, week after week. Ive never seen anything like it. Maria i know. For the people in the Republican Party, who say well, hes not really a republican, ill just tell you, hes done more to build Republican Party candidates than any president has ever done, ever. Governor, hes out on the trail, obviously people are going to look at todays elections and theyre going to want to infer something about 2020. But even though hes out there campaigning, the president isnt on the ballot right now. How much do you think that will matter in terms of interpreting the results that we see from todays races . Well, to the leftist in the media, it will matter if some of those races dont turn out well for the republican and theyll say this is a bellwether of trumps failing ability to influence a race. The truth is, he can rally some fighters that might have stayed home, might not have been that much aware but this isnt on him. It never is. Surrogates cant win or lose elections, the candidates do. What he can do is rally the base of support. But rest assured, if any republican where hes campaigned loses, it will be a all because of him and thats just the way it is. Even though its not true. But lets be assure, its not the first time the media will be have said something untrue about influence of President Trump. Dagen governor, its dagen mcdowell. What should we watch for today, the governors race in kentucky, that seems to be the most talked about. Also in my home state of virginia and also in mississippi. I think the kentucky race is the most interesting. Matt bevin, who i think is a great governor, a terrific leader, has had real polling number problems had that hes hes been facing for over a year. And so the president s injection in that race could be critical. And hes running against a very wellknown attorney general who has a longstanding with the political family in kentucky. So this is probably the toughest race on the ballot today. If matt bevin wins reelection, he could make a phone call and thank donald trump. He can also thank the voters that came out for him that the president was able to push forward. But i think in all of the races, the president will have some effect but when it comes down to races like governor, people ultimately decide how are things going for me in my state and has the governor made any big mistake takes or controversies that caused people to say i aint going to he vote for them. Maria look at the kentucky nationally the economy nationally speaking. There is data from Yale University and oxford ebbing objectineconomists, they predict President Trump will beat the democrat candidate by 4 Percentage Points in the national election, less than a year away. Analysts at Oxford Economics calling for a 5 point win for President Trump in the popular vote even in the case of a recession and moodys is forecasting that President Trump will win 332 electoral votes, more than he won in 2016. So governor, is it all about the backdrop and the economy when we approach 2020 and the election next year . Its about how people feel. Well, two big things are happening. One is the economy and i do think thats how people vote. Remember back in 1992 and the clinton people famously said its the economy, stupid, and that was their sort of guide word and they were right. But moving forward to this years election, theres really two big issues. One is that the democrats have offered nothing but higher taxes, open borders, Green New Deal that will basically destroy the American Economy, unbelievable fantasy programs like medicare for all at 52 trillion and i cant pay for all of that, maria. I did tell Elizabeth Warren l ill write her a postdated check and put something on it but i cant cover it all right now. They have nothing but maria you cant cover 52 trillion, huh . 52 trillion. Ism a little short on that. Like i say, ill write her a postdated check. Governor, this is andy posner. What is the race in kentucky have to do with Mitch Mcconnells race coming up next year . Hey, andy. One of my very favorite people, by the way. Same here. I think Mitch Mcconnell is going to be in good shape when its all said and done. People can like or dislike Mitch Mcconnell. Im going to he tell you something. Theres nobody who is a more astute leader of the senate who knows the rules and ive often said you can have somebody who is brilliant on policies and the issues but the person who wins the legislative debate is not the person who is the smartest, not the most articulate, not the person who understands the policy, its the person who understands the rules of the legislative process. That person wins every time. Dagen i remember when Allison Grimes ran against Mitch Mcconnell and those celebrities raised so much money for her and i think he beat her by 15 points. Hes so good running in kentucky. He knows that state. I wouldnt bet against Mitch Mcconnell. I certainly wouldnt. Maria we will leave it there. Good to see you this morning. Thanks so much. Thank you. Have a great day. Maria and to you. Coming you, former defense and economic minister under Angela Merkel, Kiki Gutenberg is here to talk about the democrats desire to turn the American Economy more european. Darryl kronk is here on the market records and sail kahn joining us to talk about education in america. Dont miss a moment of it. Well take a short break. When we come back, crude oil in focus, oil demand dipping as opec sees the market share slide. The impact at the pump. Google employees are demanding google take action to fight Climate Change. What they want, coming up. This is the part where i say i dont it. Im stronger than i ever thought. This is the part when i break free. What if numbers tell only half the story . At t. Rowe price, hundreds of our experts go beyond the numbers to examine Investment Opportunities firsthand. Like a biotech firm that engineers a patients own cells to fight cancer. This is strategic investing. Because your investments deserve the full story. T. Rowe price. Invest with confidence. Maria welcome back. Tough story here. A group of americans were gunned down by a drug cartel in mexico. Lauren simonetti now with headlines. Lauren its just tragic, maria. Police say three mothers from utah and six of their children were driving across the border for a wedding when they were ambushed in mexico. The youngest victims were 6monthold twins. 12 other family members were reportedly kidnapped after the cartel shooting. Mexico deploying troops to search for those missing family members. Well, opec is cutting its forecast for global oil demand, citing stress in the World Economy and rising production of u. S. Shale. Opec calling the last 12 months, quote, challenging for the energy markets. Opec expects production to fall to nearly 33 Million Barrels a day by the year 2024, thats down from the current 35 million. Facebook is making sure you know that its more than a social network. Had they are releasing a new logo to distinguish between its corporation, the Parent Company and the social media app. The keeps the traditional the app keeps the traditional f logo. Facebook says surveys show only 29 of americans know the company also owns instagram and whats app. But can the new logo make you forget the problems that facebook has . Anyway, a transit worker is being hailed a hero, rescuing a man from train tracks. Watch right here. Incredible video. It shows him pulling the man to safety a split second before the train puls pulls into the stati. This happened in oakland, california. The mans live saved by the transit worker. He was asked about his heroic efforts 57b and he said he was t doing his job. Later the two hugged it all. That potential victim really thankful his life was just saved. All caught on tape. Maria what pictures. Google workers are protesting you Climate Change, employees demanding action. What they want, coming up. The stock of the Parent Company alpha he bet up this morning a fraction. Comedy from both sites of the id, seth miers new special has a tool that makes it more enjoyable for everybody. Wait until you hear this. Stay with us. Kiss me on the sidewalk. Take away the pain. [ applause ] thank you. Its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. [maniacal laughter] gold. Gold right, uh. Thank you, for that, bob. But i think its time we go with gbtc. Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. Shes the one the one for you when you know you just know she isnt perfect but shes perfect for you love is rare loves unique love is her love is him love is us the vera wang love collection designed for zales, the diamond store. Maria welcome back. Google employees getting political again, this time theyre calling for action on Climate Change. In a letter to the cfo, employees wrote this. Google is a Global Company with billions of users across the world. Many of whom are already bearing the brunt of climate disaster. As google workers we are committed to putting users first and google must do the same. Putting our users first. Their users use fossil fuels by the way. If youre serving people who live in the world, they depend on fossil fuels. Dont you think you want to be engaged in that space to make a difference rather than simply saying you know what, cancel. Were out. We want nothing. You dont make changes in the world if you leave every space that youre concerned about. Maria what do they have to say about china and the way china he poe lieutenants the world. Let polutes the world. Not much. Although they opened their a. I. Department in china. Apparently thats okay. It only upsets them if its in the United States. This is the best argument, the way the google employees are reacting is the best argument for breaking up google that ive heard. These people, theyre off the planet, theyre not trying to bring in business. Google controls the market. So apparently they feel like they dont have to reach out to he these people across the country that are using fossil fuels because where else are you going to go. Dagen googles employees hate the customers, thats what it points to. Google searches alone account for 40 of the entire internets carbon footprint. So the workers are mad about the Climate Impact of that, so the google workers actually hate the people that are that theyre serving ads to, that are the bread and butter of their business, i suppose. I jest, sort of. Maria i really would like to know what they have to say about china. Id like to hear what the employees have to say about that. Because china is the biggest polluter and theyre trying to be number one in terms of the super power, militarily and economically and the jewel of google is their a. I. And theyve got it in china and we know the chinas behavior, theyre rounding up muslims, up two 2 million in concentration cams, tracking their citizens with facial recognition. How come google employees dont have a problem with that . Dont you think its the compartmentalization. Its fashionable where google ply ease work, its employees work, its fashionable to take a stand on this issue. Its not fashionable to do that with china. Maria lets talk about new york. The Police Commissioner is stepping down, he resigned yesterday after three years leading the nations Largest Police force. Why . Because hes unhappy with the bail rule that theyre doing away with bail, which will mean 900 inmates are going to be released by january. Ive been talking about this story for now almost a year. This is only the beginning of it. As i mentioned months ago, three quarters of all inmates from Rikers Island will be let out when they close Rikers Island. Rikers island is a l holding prison. This has everything to do with theyll go to that prison and go to other prisons. The bottom line is theyre closing Rikers Island. That means theyll have a lower capacity for inmates. Theyll open up three jails in new york and theyre not going to come close to the capacity of Rikers Island. So what are they goin to do . Theyll let the people out. Dagen Governor Cuomo denied any knowledge of this. S hes trying to disa avo vow yu that he knew about the Early Release of the prisoners based on the new bail reform. But again, i think the broader question for everybody in this country is when is criminal Justice Reform going to contribute to a dramatic rise in crime . That is something they that youre witnessing here in new york city. I see it every day. People are not getting arrested for shoplifting. Theyre not getting arrested for simple assault. The laundry der tear gen tear g detergent at the local drugstore is locked up behind glass because people are stealing it. People are getting beat up and the cops dont show up. This is straight from the mayor and the manhattan da, the same da that didnt want the harshest restrictions on Jeffrey Epstein as sex a sexual predator, a registered sex offender. During epsteins time living in new york as a sex offender, he never, ever checked in, i dont think once with the nypd during that entire time. So who are you protecting here . Maria its interesting to see james oneil really taking a stand. This is the cover of the New York Post today, bailing out, and its basically top cop resigns, warns on jail reform, its only going to get worse. What will that mean for new york . Are we going to he see pictures in new york the way we see pictures in San Francisco and in los angeles and we showed you earlier austin, where the homelessness problem is getting worse and crime is going up. The left doesnt think crime is crime. And the more that they legalize this conduct thats damaging to the citizens of whatever municipality youre living in, the more youll see situations like los angeles and San Francisco. New york could be in trouble. We may need Rudy Giuliani back. Maria alexandria ocasiocortez says we dont need jails. She said no jails. Its great for people who can insulate themselves from all the effects but for the average person, they deal with the consequences of this. Maria well talk about this more. Meanwhile, were looking at europes economy, mirroring europes economy. 2020 democrats looking across the pond for economic inspiration. How it could affect your wallet coming you up next. Made in america, one Company Makes bikes in the United States for more than 30 years. Hes here in the studio. We want to find out if the price of bikes is going up, given the tariff situation. Back in a minute. Cheer up sleepy jean. Oh, what can it mean. To a day dream believer and a homecoming no commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no Commission Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right, by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right with sofi. Check your rate in two minutes or less. Get a nofee personal loan up to 100k. Maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, november 5th. Election day. Your top stories right now, 7 3. U. S. China trade tensions appear to be easing. President trump said that china wants to make a a deal and now the two sides are talking about some tariffs being rolled back on both sides. Of course, this is from sources close to the situation reporting to the wall street journal. Chinese purchases of American Farm goods, rules to deter currency manipulation and some provisions to pr protect ip, ths all in the phase deal and its hopeful for imposing brand new tariffs. Futures indicate a gain at the start of trade, dow up 70 s p up 6, nasdaq up 21. All three major ind indices wer9 alltime highs idea. Global markets this morning look like this, more of a mix story in europe. The cac is up 15, and the dax in germany just turned positive, now up as well 11 points. Stocks rallied in asia as well, hopes of a china trade deal there as well empowering markets. The Chinese Markets were off half a percent. The best performer was japan, up 1 and three quarters percent. Uber is hitting speed bumps, stock under pressure this morning, down almost 6 after the ride share giant reported a wider than expected loss compared to a year earlier. Results did beat expectations. The ceo said the company is on the road to profitability. He said it could happen in 2021. Nonetheless, stock is down this morning. Peloton is certainly a stock to watch. The company reporting higher than expected revenue in the first quarter, revenue narrowed from a year ago, despite the gains this morning the stock is below the 29 ipo price. It is up 4 but it is sitting at 25. 56. Made in america, light speed. High performs mans titanium bikes, find out how the Bicycle Company has been able to grow the business and navigate the tariffs. Are they more expensive in the face of tariffs . Well check it out. Skip the politics, netflix allowing viewers of seth meyers new comedy special to jump past any jokes about trump. Wealth tax an the global economy, the wall street Journal Editorial Board out with a new piece titled this, where wealth taxes failed. In it, the board targets you how wealth taxes across europe have failed and offers a warning to the United States, saying this, despite the obvious flaws, the wealth tax stays alive in the socialist mine because it is the ultimate populist envy tax. Its confiscation as we say all the time. On the et cetera from work, thrift and investment that have been taxed at least once as individual or Corporate Income and perhaps again as a capital a gain or death tax. It also fails in practice. The question is how much economic damage comes first. According to a report, single workers in European Countries making 40,000 take home around 22,000 after taxes. Joining us is the former German Defense and economic minister, kt gutenberg. Whats your opinion of a wealth tax . Utter nonsense. [ laughter ] weve been through that madness in europe. Weve had a dozen European Countries who raised such a tax and what its created is a culture of envy, gel circumstancjealousy, ofmistrust. We drive people that create jobs out of our countries. France, you may remember the french not the 80s dagen im glad you said that, just to hear you say [ laughter ] just for you, dagen. But it was 10, 20, 30,000 wealthy people leaving france at that point. We have had the example of sweden which serves as a t poster child very often when you listen to democrats raising the european examples. You may remember the founder of ikea, you know where he died, where he passed away . In switzerland of all places, not in h sweden. Just a few examples, it doesnt work. My home country, we also tried it in germany, it was celebrated as a big idea, there were numbers that have been brought up and i think theyre quite realistic that said it damages gdp significantly all the way up to the 5 and unemployment will rise as well. So those are the things we have to keep in mind when we talk about that. Not withstanding the sheer fact it is a tax imposed on people and businesses that have already paid their share in taxes. So i just dont get it. And maybe the last point here. Youre celebrating 30 years of the fall of the wall. This week. This very week. Welcome back to communism. Thats exactly whats happening. Dagen people laugh when i say this, but i said that these plans from Elizabeth Warren and Bernie Sanders should be called back in the ussr. Because thats exactly what they are. But all of these nations that tried it, tried the wealth tax and then rescinded it or got rid of it should be cheering these plans because guess what, all the wealthy people in the United States would go somewhere else. And that whole idea she has of trying to prevent people from leaving the United States, well, thats unconstitutional. Moneys is mobile as maria says all the time and a another thing, it would be impossible to calculate the wealth of these people here in the u. S. And it would create incentives to own, again, the journal points out in the editorial, are you going to impose a wealth tax on farm. Because if you dont youll have a property bubble because the wealthy people will be buying up farmland if its taxfree. Maria Bernie Sanders doesnt care. He says no more billionaires. Dagen so no more entrepreneurs. Im not saying money is the end all, be all. Okay, im going to start a company here, the next amazon, im going to start it here but when i start making a little bit of money, im moving to switzerland, im moving it to germany, im moving it to france. Sanders and warren have to get they have to get it in their heads that the purpose of taxes is to increase revenue. The wealth taxes drive down gdp, they drive wealth out of the country, impossible to enforce. Theyre intended to punish people that have been successful. What we need are taxes that raise revenue to pay we cant even pay for the programs we have now, were a trillion dollars short. They want to add in, what is it, 90 trillion over 10 years for the Green New Deal. Youre talking about 32 trillion just for med compar medicare fo. To even talk about this you have to talk about paying for them and they cant. So they focus on the wealth taxes. Maria Elizabeth Warren keeps ducking the question. Its nonsense. Theyre southing on the taxes raising like two, 3 trillion over 10 years. The point in europe, they never raise as much money because its so easy to dodge it. Its an illusion. It never happened over there. And theres just three countries left in europe. But theyre taxing it differently. They go after the middle class. Thats something different. Its hard to compare. They will do that here too. Second is norway. Well, theyve always been an example of look at norway, why are they well off . Oil. They can afford such a tax there. Thats probably the only country in the world where it works. And then the third one is spain and i dont see spain as the shining example of a functioning economy. So this is something that hasnt worked over there. Maria what happens now with the ecb. Lets talk about Christine Lagarde for a second. She is in the first week as chairman of the European Central bank. Shes making comments that europe should overcome selfdoubt but she steered clear of addressing specific Monetary Policy issues, this as factory activity declined in europe last month, we keep see the Economic Data points that show no growth. What does the european economy need right now. Whats happening, i see a prolongation of the poll circumstance i dont see it poll circumstance i dont sepolt dramatically changing. We have a character there who knowses how politics really functions. She is one who will see compromises. She is highly respected in germany, as opposed to her predecessor mario draghi. She is learning german right now which is quite an interesting task for her. I think she will be capable to embrace the germans and convince them of a few steps forward in certain regards. Thats a very important task for her. I didnt expect something dramatic or revolutionary coming from her in the first few weeks. She has to get adapted to the structures in the ecb. Its a big body. All in all, i think its the right person in the right place and im quite hopeful that she will get the message actually into the whole european body. Maria shes not an economist. Shes a trained lawyer, yes. But is that a bad sign . Maria no, i just want t just t out. I think its good to have someone entirely different characterwise to the ones weve had before. It offers the opportunity for change. And the experiences she brings into what tha that very positioe stellar. She has dealt with International Bodies where you wouldnt expect a different kind of character and the way she handled the imf was not the worst way. Maria all right. Well leave it there. Kt, great to see you. Come back soon. Love having you in new york. Dagen say it again. Francois miterand. Maria we love it thank you very much. Xerox is getting out of the fuji film deal, the deal ending nearly 6 60 year joint venture. We will take a look at that, xerox shares are up 5 and a quarter percent on this news. Comedy for democrats and republicans, seth meyers new special, funny for both sides of the aisle, well tell you how hes managing that one. Back in a minute. I want to take you away. Until the music, let it play. I just cant refuse it. Like the way you please dont stop the, please dont stop the music 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. Hey fred its medicare open enrollment. E. Time to compare plans. Were fine with what we have. Thats what the johnsons thought until they tried medicares new plan finder. The johnsons . We saved a lot on our prescription costs and got extra benefits. How bout it, fred. Plans change every year. Use the new plan finder at medicare. Gov. Comparing plans really pays. Look how much we can save. Maria welcome back. Well, the frenzy over popeyes chicken sandwich turned deadly yesterday. Lauren simonetti with the details. What a story. Lauren unexpected. A man was stabbed to death last night at a popeyes in maryland. The fight reportedly erupted after someone cut the line for the chicken sandwich. Police now looking for the suspect. The popular chicken sandwich returned to popeyes menu over the weekend, two months after going out of stock. Well, shares of xerox are rallying in the premarket. The company now exiting its joint venture with fuji film, agreeing to sell the 25 stake in fuji xerox to the japanese partner. This move after investor opposition blocked the planned merger between the two companies. Tired of hearin hearing poll mig with your politics mixing with her entertainment. Seth meyers understands and is doing something about it. He partnered with netflix to give you the viewer the option to skip over trump related jokes in his new standup special called lobby baby. It worked like the skip intro feature that netflix offers on many of its shows. That special debuted today on netflix. So if you dont want to hear the trump jokes, you just skip them. Maria what else is he going to talk about, lauren . I mean thats ridiculous. If people dont like those jokes, why dont you write something that doesnt involve 90 jokes about trump. Maria youve got to come up with a tool to pass it. I dont get it. I wouldnt want to watch it for that reason alone that he built that feature in there. Its hard to watch a lot of shows on netflix because of the of left ward tilt. If you want to watch, have you to ignore stuff. Maria theres a crowded field. Youve got amazon, youve got hulu, a lot of is this going to become the thing, any show you watch, you only watch the shows that i think netflix has gotten worse. I think this is a good sign that theyre recognizing they havent been adding people like theyd like to. Make they realize theyll have to reach a broader audience. Maria theyll have to cough up 12 or 13 billion a year for original content with disney stacking the books with its original content. Either compete for the entire population or just the side that agrees with you politically, i think anybody sensible will want the entire population. This is a space with real competition. They face real competition. They have to think about how to be sensitive to customers. Maria you made a good point during the commercial break, that google employees can say whatever they want because they dont have to worry about customers. Theyve got 90 market share. Theyre not worried about trying to attract customers who dont believe in Climate Change or who like driving their cars because they control thats why its the best argument for antitrust action for breaking the company up because theres not enough competition. Maria the companys employees are doing that all by themselves. Yes, they are. Maria we are celebrating american made, a company thats been making bikes in the usa for more than 30 years, hes here next, stay with us. On the boat and on the plane. Theyre coming to america. Never looking back again. Theyre coming to america. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on and with the sXfinity Stream app, screen is your big screen. Which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Whether youre travelling around the country or around the house, keep what you watch with you. Download the Xfinity Stream app and watch all the shows you love. And my side super soft . Be firm . With the sleep number 360 smart bed you can both. Adjust your comfort with your sleep number setting. So, can it help us fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. Will it help me keep up with him . Yup. So, you can really promise better sleep . Not promise. Prove. And now, during our veterans day sale, save 1,000 on the new sleep number 360 special Edition Smart bed, now only 1,799. Only for a limited time. How could i forget to mention the bicycle is a good invention. Sitting there in a silent movie, beside the girl who really every knew me. Maria biking, taking it on two wheels, the American Bicycle Group has been doing that for decades, building bikes in the United States for more than 30 years. Theyre working hard to bring bicycle manufacturing back to the United States. Joining us now is American Bicycle Group ceo, peter hurley. Thank you for joining us. You manufacture everything in the United States. We of manufacture the titanium frames in the United States. We assemble and paint all of our different bikes in the United States. Maria in terms of the tariff situation, how has it impacted you . Our carbon fiber frames, which are made in china, whoa woo havwould have gone up 25 , e got a reprieve last week. We have paid 10 on the frames. Maria you havent raised prices yet. We Just Announced a raise in prices and we dialed them back. Maria you got the reprieve. That had to be really helpful. Its a temporary reprieve until august a of next. How does bringing bike manufacturing back to the u. S. Help when it comes to the customization of bikes, direct to consumer. The channels have changed and the kinds of things you can do for consumers have changed and that seems to matter in terms of having the manufacturing capability here in the u. S. I would agree with you. Thats why we two years ago began to just import the frames raw, sand them, paint them, assemble the entire bike here in the United States. Unlike what the typical model was, and that was you order a year andahalf in advance, have the frames made in china, ship them to taiwan, assemble and paint everything in taiwan and ship around the world to the different distribution points. Since weve done that, we have been able to deliver a customized bike to a consumer within 14 days and as a result, weve grown 72 in two years. Maria wow. How can you do titanium in the United States and not the carbon . The carbon is a whole different makeup, a whole different infrastructure that really the chinese have invested in tremendously. Started with tennis racquets many years ago. Its just not something that can just be easily turned on. Dagen you led the way they led the way and you can correct me from im wrong, i used to Mountain Bike a lot and you led the way in the ti titanium frame with the light speed bike so they got an early start in manufacturing that ti titanium frame in the u. S. Thats something we were celebrated with going to the white house with made in america as well and were proud of our light speed heritage. Maria is the titanium much lighter than carbon. No, actually the carbon is slightly lighter than the tie tab yum. Its titanium. Its a different feel. Tie timtitanium was the materiaf choice 20 years ago. Its more of a choice for a smoother ride instead of getting banged around and rideing like a stiff rock. Maria how is business going . For us its been wonderful. We decided to take on a philosophy that we wont dictate to our consumer how they receive the bicycle. We wont go through the two or three step distribution process. They go on our website, they pick what components they want, what color they want, they order it on the website. We bille billed it, paint it, sp them in a customized box. Its 90 built. You just put the wheel on, connect four bolts into the bar and youre off and running. We promote that you see your local dealer for maintenance. Maria on your bike. Right, on your bike. The models been good for us. Overall, the bike industry has been flat. Its gone through a correction in the last three or four years. Theres a couple segments in the industry that are taking off, ebikes and gravelle bikes. Maria thatsgravel bikes. You can ride 45 miles with an ebike. Depends on the effort you want and the type ofestbike you that purchase. Maria whats the most popular bike. I bike a lot, i have a hybrid bike. Whats the most p popular bike. A gravel bike. Theres a segment coming on right now, to get off the pavenment and get on pavement and get on the gravel. Theres less traffic. Its safer, its a lot more fun. Maria the wheels are thicker. They are thicker,. Maria its great to have you here. Thanks so much. When we many come back, trade fueling markets this morning. Reported negotiations between beijing and washington pushing stocks to record highs again. Where the talks stand, next hour. Shes the one the one for you when you know you just know she isnt perfect but shes perfect for you love is rare loves unique love is her love is him love is us the vera wang love collection designed for zales, the diamond store. Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. There are zero reasons to invest anywhere else. Peyton, what abrad, welcome to peytonville. Whats this for . Song inspiration. I started in my garage, but nationwide protects so much i had to expand. Nationwide helps protect everything you see in here, brad. Every family, every business, every dream. See mrs. Hoffman . Nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. Oh, they have backstories. Of course they do. Here, i got more to show you. Keep up, now. A little hustle. More exciting than than getting a lexus. Giving one. This is unbelievable it really is. The lexus december to rembember sales event lease the 2020 rx 350 all wheel drive for 419 a month for 27 months. Experience amazing at your lexus dealer. Maria welcome back good Tuesday Morning, thank you so much for joining us, im maria bartiromo, tuesday november 5th, top stories 8 00 a. M. On the button, u. S. East coast, President Trump says that china wants to make a deal and now conversation about tariffs being roland back on both sides to get a deal signed, of course, the next tariffs to be put if place are december 15th, china is asking to hold off on that. Marks are liking the news, futures indicating rally at the start of trading this morning and it would be another recordbreaking session, s p futures are up 6 and nasdaq futures up 20 points, this is on top of a record rally yesterday where all 3 major indices closed at alltime highs, take a look, dow industrials 108th record close since President Trump elected, dow industrials up 115 points yesterday, s p up 11 and nasdaq up 47 points at 4 00 oclock on wall street, Global Markets taking a cue and trading up. Thats a third of a percent, cac quarante in paris up 14 and dax index in germany up by 8 points, stocks rallied overnight in asia in hopes of deal with china, best performer was japan, nikkei average up one and 3 quarters percent. The earning season rolls on for third water, pelaton reporting higher than expected in Third Quarter, losses narrow, still losing money as they narrow from a year earlier, pelaton shares 6 and a half percent, despite the gains the stock is below 29dollar ipo price, 26. 19, the Parent Parent of coach and kate spade, find out what makes this doll so expensive, we have all the details coming up, all the stories coming Tuesday Morning, join knowing break it all down fox business dagen mcdowell, chairman of the perform and finance and business professor Brian Brendberg and former ceo of Cke Restaurants and actor of capitalist comeback andy puzder, great show so far. Could we not talk about the doll, by the way, i dont want my daughter to know that something exists, its christmas time. I dont want to know. Dagen wait till they are driving age and they dont want a doll, they dont want a doll for a few thousand dollars and they want a new car. Maria big trouble. Top story this hour futures pointing to another record day on wall street, fueled by renewed optimism of u. S. China trade situation, as you can see the dow industrials you mean almost 80 points, washington and beijing rolling back tariffs in a way to complete phase 1 of much large trade agreement, President Trump touted in rally in kentucky. Under my administration we had 10,000 new factories and many, many factories are coming into our country. We slashed the Record Number of jobkilling regulations, we ended the war on american energy, china is doing poorly as you know, but they are paying us billions and billions of dollars and theyve never given us 10 cents before. They want to make a deal so badly, frankly, honesty, they want to make a deal a lot more than i want to make a deal. Maria joining us Wells Fargo Investment Institute darrell, whats behind the rally . I think youre getting a number of things that are happening here, seasonality is good, best months of the market, actually sentiment, Investment Sentiment is very low which is contrarian indicater, Investor Sentiment at 20year twodecade low, steeper yield curve, weaker dollar and actually its not just the u. S. , International Markets are actually outperforming the u. S. , japan is up in the last 90 days, 8. 4 , s p is up 5. 1. Maria even india is doing well. We are finally getting global synchronize lift there so its not just the u. S. Market. Maria you dont have synchronized growth across the world. Thats the challenge as we finish the Fourth Quarter and into 2020, you have this issue where its its really challenging to get Economic Growth. I mean, if you look at the last 6 recoveries, the average gdp growth was 4 through all 6 of those, the recovery average of 2. 3 , half of what the normal recoveries have, now, if you can make an argument that that could extend the recovery, simply because we havent gotten the elongated growth that we have enjoyed in recoveries. But the consumer is so surprisingly resilient right now and the job picture, again, last month blew away everybodys expectations, that does suggest that going into 2020, some of the outlook for gdp growth is undertasted a little bit because we havent under how resilient the consumer and how resilient the job market is. Business spending has down shifted mainly because of trade war and geopolitical risks. 4. 6 , 2. 9 , still robust, still god and youre correct, the jobs market is great, you know, 3. 6 unemployment, in fact, companies are having a hard time finding the labor they want. Thats the big challenge right now. Could affect the jobs. Do you think Business Investment would increase if we reach trade deal, will we see resurgence . Thats right, andy, i think, so if you get a phase one deal as its layed out this morning, right, 3 things that the u. S. Wants, more ip protections, they want more purchases of Agricultural Products and they want signing on u. S. Soil, they want to make a big deal out of it, china wants greater licenses on hauwei and they want the tariffs rolled back, thats the way the deal is shaping right now, you have to have surprise i think to the upside in order for phase one deal to give continued lift from here in our opinion, its possible, but i think, you know, weve got good transparency on what the deal looks like. Do you see concern with possible warren or sanders presidency . It will depending on how the polls come out and interesting we went back and said show me the last 23 election years going back to 1928, 19 of the 23 are positive, only 4 have been negative for s p 500 and 3 of those occurred during recession. So it goes back to this, you know, concept that its the economy that matters, right, its not so much, you know, the election but to the point is well taken that the politics are more binary and more polarized in this election than most and some of the policies are being layed out, you know, in challenging fashion. Maria in terms of sectors, i mean, xi pushing higher tax rate, financial transaction tax, Greater Consumer finance enforcement, these notes, i guess, these issues would hurt the financials, so do you have a plan if we were to see one of the democrats get in place, do you want to avoid those kinds of sectors, financials and housing, by the way, those are stocks doing well right now . If you look at where our exposure is, we are most overweight tech, we still like discretionary and financials, those are the places that we have been overexposed. As the year progresses and looks more like certainly Democratic Administration and progressive Democratic Administration, you to think about pulling back exposures to financial and health care are probably the two places that could be most exposed in the environment. Dagen might be nowhere to hide. [laughter] dagen if you have policies that very clearly in short order would drive the u. S. Economy and remove power away from Corporate Executives to make investment and hiring decision and wipe out the entire private insurance, these are her ideas, wipe out the entire fossil fuel business as we know it, this is millions of jobs lost. Where would you hide . Under the bed is where you hide. [laughter] i do think theres one interesting thing here, history doesnt always fully repeat itself, if you go back and looked since weve changed in 1972, modern polling method and the way we nominate candidates, a year out from the election carter, president carter was in 13th place in the primaries, a year out from the election bill clinton was in fourth place in his own partys primaries, a year out from the election president obama was in second place trailing Hillary Clinton by 20 points. Maria what are you saying . What im saying a year out a lot can change, right, so the idea that the markets are concerned about a more progressive candidate can change throughout the next 12 months prematurely and history tells you if youre leading the year out, often times you dont carry that partys primary. Maria real quick, is usmca price priced into the market . That could be one of your cue 4 lifts and actually a lot of consensus that it wasnt going to get done in 2019, i actually think its looking much more likely and in fact, getting pulled out to democrats who need a win, particularly if they are going to vote around impeachment. I agree. Maria they may mean another leg up for markets, we are watching shares of uber this morning, the stock is down despite beating analyst expectations. Gerri willis. Uber is down this morning, said to open down 6 , but the companys losses topping a billion dollars, uber nightmare continues, overall he says this was a b minus quarter for the company, misunderlying bookings and ridesharing metrics, pelaton, investors much more forgiving for this stock, poised to open up 6 despite missing eps estimates, they doubled quarterly revenues and subscribers, so investors like that for the home fitness company, thats a much better result for them. Shake shack, meanwhile, poised to open as much as 17 , beating on the bottom line in line with revenues but samestore sales were a miss coming at 2 versus 2. 5 by wall street analysts are cutting price target on the company and finally headlines this morning that boeing ceo deniss muilenberg will forego bonuses this year, 23 billion, million dollars, pardon me, highly contentious during the last week hearings on in front of congress, thank you. Maria all right, gerri, thank you, we will get back to you when we open, record high for the dow industrials apparently, well, we have a big hour ahead, joining the conversation the morning the con academy is here, here to discuss education in america and skyrocketing student debt load that we are looking at. Varney weighs in as well, dont miss a moment of it, we will slip a short break, we are one year away from election. Then start your engines, ford breaks out a brandnew bronco revealing a first look into a racing version of the suv, we will show it to you, weve got it back in a minute i knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. It also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Maria mike pompeo responding to irans next step with nuclear deal. Lauren so mike pompeo telling lou dobbs President Trump is taking hard line of Irans Nuclear ambitions after the u. S. Pulled out of nuclear deal last year. We had an agreement that frankly allowed iran to have all the money it need today conduct the Terror Campaign that you are seeing, they were engaged during jcpoa, more missiles, more terror activity, our efforts have been aimed at 3 pieces to have puzzle including the one you referred to as economics sanction campaign. Hezbollah has fewer reinforces, islamic leaders are having to make more difficult decisions about their budget, we have been at this now since may of this year, so now 5 months, 6 months. Lauren iran announcing lit start injecting uranium in centrifuges. That step puts them one step close the other building a nuclear weapon, former mcdonald ceo Steve Easterbrook responding of board of walmart, walmart says no disagreement relating to operations, policies or practices, as you know easterbrook was fired because of consensual relationship because of employee, ford bringing back iconic car and doing nit style, revealing a racing version of soon to be released 2021 ford bronco ahead of mexicos baja1000 race taking place later this month, very little about the retail model, that hasnt been released, but rumored to have aluminum frame, 2 or 4door versions and have removable door and roof, the broncos will be produced adder formichigans assembly plan. Brian, im sorry, American Girl is going american glam, that doll right there, collectors edition, the ultimate holiday 2019 output dripping in crystals and beds, are thousand dollars if you want one act fast because only 3 of the blinged out dolls will be available at the flag ship locations in new york right around the block if you want to go, brian, one is available, los angeles, i like it, there you go. Maria its a collectible, i guess. Lauren diamonds are my birthstone, girls best friend. You should buy it and itll be sold out and i will have a great excuse why not to never think about it. Dagen you should invest on a bronco. Amen. Dagen i had a big white in the 80s, white ford bronco, looked somewhat similar to oj simpson bronco, unfortunately. [laughter] maria check it out. Dagen thats the old bronco and then they cut maria your kids are talking about, andy . They are excited about the bronco. The older bronco is popular with kids, they scoop them up when they come up for sale, this could be a big deal for them. Maria quick break, when we come back, education in america, the con Academy Founder weighs in on how the Company Wants to revamp american classrooms and take on skyrocketing student debt crisis, less than 1 year away from 2020 election, taking you live to one battleground county this morning in michigan where slowdown in manufacturing jobs could be deciding factor for voters, next up right here. the enchanted disney fine jewelry collection. With exclusive bridal styles at zales, the diamond store. Performance comes in lots of flavors. dramatic orchestra bridal styles at zales, theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Maria welcome back fox business is swinging through the swing states one year out of election in 2020, we are exploring what voters are thinking, Connell Mcshane in michigan right now, connell, good morning to you. Good morning to you, maria, a company and i will tell you about it in a moment, this area is so important, you and i spoke from the philadelphia suburbs, a little bit of a different field as we continue swing state economy series as we shift the focus to the Manufacturing Sector of the economy, its so important here, so important to wisconsin and if you talk to people they will tell you its at least starting to slow, you look at the numbers in michigan and the state has lost more than 6,000 manufacturing jobs year to date, even as its adding jobs in other areas, so we went out and we spoke to some of the voters here about the trends, about the impact of the trade war and more, take a listen. Trump ran on bringing manufacturing jobs to america and seems like hes working on with the trade wars, its not helping us right now, hopefully will help us later on. Trade war with china is a mistake and its going to hurt us, youre not going to see it right away but you will see it down the road. I think trump is good in a sense that when he gets all the negative advice, he doesnt care. Whats good for the country now, in many ways this part of the country is still doing quite well even with the manufacturing slowdown that i talked about, now automation, you can see activity behind me, the company that makes equipment for the automotive industry, also air space industry and as we continue here throughout the day at our reporting and also we want to bring you out, Company Executives talking about the businesses and talk about how the economy is doing here and we will have that later in the later, remember how important this is, an area that supported Ronald Reagan and 3 years supported donald trump, the question is how does it go one year from now, happy election by the way. Maria less than a year from now, connell, we will watch you, the pressure is on, House Republicans are planning to Call Committee chairman adam schiff for questioning on the impeachment probe, they want him as a witness to testify as democrats release the first transcripts from the hearings, we have all the latest on the impeachment inquiry next does your broker offer more than just free trades . Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. There are zero reasons to invest anywhere else. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on 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. Maria welcome back, good Tuesday Morning, thank you so much for joining us, top stories right now before 8 30 a. M. President trump said china wants to make a deal, theres negotiating going on throughout phone calls, some tariffs could be rolled back to get deal signed in november, november 17th is the day we are looking at, trade pushing markets toward a recordbreaking day, take a look, dow industrials up 80 points, s p 500 up 6, nasdaq up 19, this on top of yesterdays record rally where all 3 major indices hit alltime highs at the close of trading, nasdaq is top performer major index under President Trump and up this morning again, we will see more records broken right out of the gate at 930 when the bell rings, Global Markets this morning look like, this european indices are taking a cue from wall street, s p up 20 points, cac quarante up 15 and index in germany up by 12. International trade numbers out right now and they are expected to be negative, stocks rallied overnight in asia, take a look at china trade hopes there, boosting hang seng, nikkei average in japan best performer up one and 3 quarters percent. All the stories coming up Tuesday Morning and impeachment inquiry is heating up as well, republicans are calling on house intel Committee Chairman adam schiff to take the stand, they want him testifying, fox business blake berman live in washington with the latest, blake, they say hes a witness because he met his staff met with whistleblower. Blake adam schiff is a material witness, probably unlikely, schiff remains at the center of impeachment inquiry, he released deposition transcripts of two of first depositions today and today two more deposition transcripts will be released for highprofile figures, Gordon Sonland and kirk, special representative for ukraine negotiations, sonland is is key figure as he made a phone call at President Trump asking what he wanted from ukraine and schiff released deposition transcripts yesterday the white house officials refuse today show up for closed door questioning that include john eisenberg, schiff say it is noshow builds up another case. This will only further add to the body of evidence on a potential obstruction of congress charge against the president. Now, at Campaign Rally last night in kentucky ahead of todays governors race the president continued to contend that this will all backfire for democrats next november. With democrats lies, hoax slander, the democrats outrageous conduct has created angry majority that will vote the donothing democrats the hell out of office. Blake more questioning, maria, is scheduled up on capitol hill here for today and tomorrow, tomorrow on the schedule calls for the energy secretary, Outgoing Energy secretary rick perry to head out for deposition questioning ahead with budget director, spokesperson for both perry say they will not be heading up to the hill to testify tomorrow and then the schedule also calls for john bolton, the president s former National Security adviser to go through a deposition on thursday, subpoena, maria, will likely be needed in the case of bolton to ensure that testimony should it happen, maria. Maria all right, blake, thank you, blake berman with the latest there, the author of to plea or not to plea, great to see you that morning, thank you so much for joining us. Very early in san diego. Maria i know that. I want to get to the book, let me get your take on whats happening in washington right now where democrats want to subpoena, im sorry, the republicans want to subpoena adam schiff, chairman of the committee to testify amidst impeachment inquiry. Well, i think its such a polarized atmosphere, adam schiff is definitely, not hiding his opinions or emojis but not really behaving as somebody trying to get the truth, i dont think anybody disputes that, right . Its very political, no doubt about it, so in your book to plea or not to plea you write about the story of rick gates and the mueller investigation, you sat down with rick gates, you spoke to him about his plea deal during the mueller investigation, what did you learn, what can you tell us . I think that when i went into it i didnt understand what the plea deal meant, i thought it was to choose between very bad choices, right, and when i started to talk i realized that few f you are called gates, paul manafort, all mike flynn in the middle of such a agenda, the government is going after you, you really dont have a choice because the moment that you dont plea, suddenly double the charges, triple the charges, millions and millions of dollars and the moment that gates broke down was really the day that he learned that the double charges as you remember, maria, against him and manafort and he didnt have the millions that manafort had. Maria interesting because the whole ordeal shows you what your own government can do to you, when you look at the when you look at the story around general Michael Flynn where they, you know, said we want we have agents in the white house, they are around, theyd love to talk to you for a few minutes not realizing that this is was an official interview by fbi agents that they we wanted to entrap him and wanted him relaxed that wrote in mueller report. Did you notice that neither flynn or gates havent been sentenced yet. When we started to plan the book, im talking to you, the book is out only a few days ago, we saw that rick gates would be sentenced long ago, if you remember Michael Flynn went to sentencing last december, still not been sentenced. Rick gates sentenced for him only because of conditioning that hes going to be the key witness in roger stone trial which is starting tomorrow otherwise he wouldnt get a sentencing day. Maria pretty extraordinary, situations like that where there was speculation that this was a russian agent and the person was working with the russians and yet no indictment, no sentencing, nothing, the people are walking free and tells you that perhaps maybe this was, in fact, what we all expect that it is and that was entrapment; where is this going, daphne, you have the president getting up after being attacked over and over again and hes continuing to implement his strategies, where do you think this is going with the ig report coming out by Michael Horowitz and john durhams investigation now criminal . Well, i think many things will be out and by the way my book and i told the president which i know hes a friend of yours, friend of mine, that i reveal that you know how early, maria, they knew that there was no russian collusion, they could not prove russian collusion, guess how early . Maria well, i think they were trying to create collusion from the beginning and being new all along that donald trump had nothing to do with it so youre trying to entrap people, youre asking the wrong person, ive been out from the getgo saying theres no collusion and they knew it. They found out, dont forget mueller published report end of march 2019, but they found out around midsummer 2018 that there was no russian collusion and i know it for a fact because they were asking, you know, every day, every time about russian collusion, different team, you know the kushner team, the donald, jr. Team, one day they stopped asking and went to other topics like immigration and what happened in november 2018, there was a Midterm Elections, i agree with my friend Kevin Mccarthy when i told the president and i told kevin, he said, thats why we lost the Midterm Election, maybe i would be instead of nancy pelosi and maybe there would not be impeachment inquiry. Maria yeah, you make a good point, they sat on the news that there was no collusion that they could find because they we wanted to get through the Midterm Elections, they we wanted to make sure that the democrats had the majority in the house going into the Midterm Elections which was quite the strategy daphne. And the funny part of it that mueller was appointed to investigate if there was any interference in 2016 elections, right, but no to tell you, 2 or 3 months before the Midterm Election that he found out that there was no russian collusion, that interference in our elections because half of the country went to vote thinking that trump would be charged or or would be accused with anything regarding russian collusion. Maria right. Its a fair to ask, who did the meddling, was it the russians or the cia trying to insert in elections and i know that you asked the questions and have nuggets of wisdom in this book, daphne, great to have you this morning, to plea or not to plea is the book, daphne barak is the author, thanks so much. Absolutely, thank you, maria. Maria President Trump is just tweeting this morning and talking about the american citizens killed by Cartel Gunmen in mexico, here is what he said. The results being many Great American People Killed including young children, some missing f mexico needs or requests help in cleaning out these monsters, the United States stands ready the president writes, he says willing and able to get involved and do the job quickly and effectively, the great new president of mexico has made this a big issue, but the cartels have become so large and powerful that you sometimes need an army to defeat an army writes the president , he goes on the say this is the time for mexico with the help of the United States to wage war on the drug cartels and wipe them off of the face of the earth, we merely wait a call from your great new president , president writing a tweet basically, specifically talking to mexico and its leader, by the way, we can attest to that, we know going on the ground when i went on the ground to el paso, texas and we saw the barriers to cross into mexico but before you actually reach the border you have to deal with the mexican drug cartels, its very scary situation there. Quick break and then microsoft modernizing workforce, the technology giant, 4day workweek, Stuart Varney weighs on that and how its affecting business, innovation and education, the Academy Founder weighs in on how the Company Wants to renovate americas classrooms and take on skyrocketing student debt loan crisis, back in a minute val, vern. Im off to college and im not gonna be around. Im worried about my parents retirement. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. Without me . Um. And when we knock out this wall imagine the closet space . Yes oh hey, son. Yeah, i think theyll be fine. Voya. Helping you to and through retirement. vo thewith every attempt, strto free itself,piders web. It only becomes more entangled. Unaware that an exhilarating escape is just within reach. Defy the laws of human nature. At the season of audi sales event. Maria welcome back, microsoft testing 4day week in japan, host of varney company, Stuart Varney, 4day workweek, im loving it. Stuart i dont think you and i can actually do that, we have name on shows that run 5 to 6 days, whatever it is. Miami miami cant move to miami either. [laughter] stuart yeah, okay. Okay, look, id love to be tax exile but i cant quite manage it but i would like a fourday week and i like the idea. Microsoft in japan tried it and they say productivity went up by 40 , i find that rather hard to believe but nonetheless 40 increase even if it was half that was pretty good, they use Less Printing facilities, less electricity, more relaxed on the job. Id love to see it come here but i dont think it will come here but for Certain Industries you could do it. I noticed that its not affected the price of microsoft stock, some of which i own, in fact, we will open at brandnew alltime high more microsoft 145 a share, maria, i will leave it right there. Maria i have 6 balls in the air at one time, im good. Stuart congratulations on the award that you won the other night, congratulations. Really cool. Maria appreciate it. I know you have big show coming up. I will be there. Varney Company Begins top of the hour, 9 00 a. M. Eastern right after mornings with maria, first innovating if education, this is a story you dont hear enough about, the con Academy Founder is here on how the Company Wants to revamp americas classroom and take on skyrocketing student debt crisis, why in a campaign era do we hear nothing about education, back in a minute 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. Maria welcome back, education in america, the u. S. Ranked 19th in science, 20th in reading, 31 in math out of 35 countries according toas sent back in 2015, Nonprofit Organization the khan academy working on making education more accessible created more than a decade ago, tens of thousands of students use khan academy to prep for tests, joining me now founder of khan academy. Great to be here. Maria why do we have low rankings when it comes to important subjects . One factor is that the United States is one of the larger more diverse countries, some of the countries at the stop of the list finland, singapore, and the city of shanghai and if you compare them to some of the pockets, finland to massachusetts, youd actually see pretty good comparisons but i think what happens maria like what . Well, massachusetts, some of the highperforming states in the United States will be on top of the list, so what you have in the u. S. Is actually a very theres a lot of variation in the quality of education. The best of the u. S. Is good as anybody but pocket where is we have big issues. Maria cofounder of home depot is a regular guest on the program, joined me last month and hes been donating a lot of money to education and here is what he said about the Public Education system in America Today, watch this. Public education in America Today is a disgrace, its a disgrace now, i went to Home Depot Stores in pittsburgh, still talk to kids and every store had a sign up, we are hiring, we are hiring, guess what, we are hiring, give them great career path, he has to be able to read and has to be able to count, this is not asking too much of Public Education system. Maria i just posted a tweet and i asked the question how come we dont hear more about this as Campaign Issue . We talk about health care, we talk about National Security, we dont talk about making our students better and smarter, what what should be done . Yeah. Very close to my heart and what he mentions in the video is exactly right, on the math side, 70 of kids who go to Community College have to take remedial math and remedial math is sixth or seventh grade math, shows kids are being promoted through the system but they have massive gaps in learning. Any teacher you ask will tell you the same thing, they will get students in ninth grade and some kids who dont know multiplication tables and one of the things we try to do whether students going to us by themselves or classroom, can we give them the tools to address the needs of each student to allow personalization and that lets them fill in gaps and not build on shaky foundation. Maria the University Level is the best in the world, right . We have great tools; as University Professor i love the fact that you exist but what i really love is that youre giving young people skills they can use, right, one of the problems with the Education System is we are spending so much money on subject matter that at the end of the day employers dont care about, its not helping students launch into their careers, youre going right to the meat of things, to the math, the science, the things that student can use, youre preparing them to create value in the world. Yeah, thats our hope and its an interesting tradeoff because we also have trying to cater to the system as it is, what people will pull from us. But i always point out the subjects that are now in high schools, whether its, you know, you learn biology in tenth grade, physics in 12th grade, that was determined in 1890 by Ten University president s, that was before we had the interstate highway system, we knew about dna, there was a Federal Reserve, so i think it would be an interesting time to [laughter] good old days. It would be interesting to rethink why should law be earlier in the curriculum, why not finance, why not statistics, i love calculus, statistics is frankly more valuable in the world. [laughter] dagen my parents and grandparents saved money to send me to private school i dont have my microphone on. Maria youre talk about your parents being able to help you with paying for school, but the u. S. Student debt crisis is real and its going to be a big problem, 45 Million People who collectively owe more than 1 and a half trillion dollars in Student Loan Debt, recent report by investor services, Student Loan Debt could create moral hazard that weaken effective stimulus, is that what youre referring to, dagen . Dagen absolutely, reaching the students in rural areas with the things that can, finding the students who are great at math and letting them know that, thats where the gap is in this country that you were really referring to. Yeah, i think the two ideas are connected, highest per capita usage is in idaho because theres large parts of idaho where kids dont have access to, maybe 20 miles from good algebra class or good physics class and related to college debt issue and some of the core classes can happen online for free so you can Start Building momentum going into college and i think the issue, i have family members who are in similar situations, late 20s, late 30s, hundreds of thousands of dollars of debt and system where you ask the young people to make very important decisions at 18, 19 years old without a lot of information, a lot of universities dont give metrics on whats the probabilities of getting a job and not figuring out what the return is. Maria great to have you, still ahead with final thoughts from allstar panel, 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. Shes the one the one for you when you know you just know she isnt perfect but shes perfect for you love is rare loves unique love is her love is him love is us the vera wang love collection designed for zales, the diamond store. What do you charge for online equity trades . Um ah, ill look into it. Lisa jones hey carl, what are you charging me for online equity trades . Laughs umm. And do i get my fees back if im not happy . Like a satisfaction guarantee . Ugh. Schwab oh right, im calling schwab. Thanks carl wait, lisa lisa. Are you Getting Commission free trades and a satisfaction guarantee . If not, talk to schwab. A modern approach to wealth management. Maria welcome back. President trump just tweeted on the inmates being released in new york. Heres what the president just wrote. So sad to see what is happening in new york, where Governor Cuomo and mayor de blasio are letting out 900 criminals from hardened and bad on to the sidewalks of our rapidly declining because of them city. The radical left dems are killing our cities. Nypd chief is resigning. Talked about this earlier and it is pretty extraordinary. As i have been saying for over a year, threequarters of all inmates from rykers island will be on the streets beginning in january. Public safety issue. People are not getting arrested for shoplifting and simple assault and they are on the streets. Now they are going to get mets tickets in order to show up at their bail i mean show up for court. Maria great show, everybody. Thank you so much. We will keep on this story. Varney Company Begins right now. Stu, take it away. Stuart im shaking my head, i really am. Good morning. Maria its unbelievable. Stuart good morning to all. Good morning, everyone. Youre right. Its unbelievable. Stand by for more records. Yes, stocks are going up again and this headline is helping a lot. U. S. china consider rolling back tariffs as part of initial trade deal. Wall street journal. Note the words rolling back. Thats at the request of the chinese, by the way. That is new and very encouraging. So weve got strong profits, weve got full employment, a worldbeating economy and progress in china trade. Thats why you willee