Transcripts For FBC Mornings With Maria Bartiromo 20240713 :

FBC Mornings With Maria Bartiromo July 13, 2024

If she becomes president mornings with maria beginsing right now. All right weve got a big show this morning joining the conversation Mitch Rochelle is here and president and pat centers the author of persuasion lee carter is here and entrepreneur great to see you thanks so much for joining us. Good to have you back. Kevin we want to talk about growth stories this morning but we have to kib this hour office on violence overnight police clashing with protesters at the Hong Kong Polytechnical University authority have tried to storm the campus. But were stopped by firessed a entrance. Police surrounded disool firing tears gas arresting those trying to leave. This is Hong Kong Court rules mask ban is unconstitutional. Joining me right now is found or of next digital and the advocate of democracy, jimmy advocate thanks very much for joining me this morning had. Good morning. Can you tell what you say went with on overnight a sense of what the scene look like today and whats happening in hong kong . It is really serious you know it is like a battle like thats why you said in their campus. Now, still about 800 students is still in the campus by the police, anybody who comes out with arrest of you know while nb who comes out. So this is very serious. And you know we still hear , you know, fighting as tear gas or rubble bullets all of that and the fire and student is hurling bombs so it is going on. I but i think we shouldnt be, you know, it will be end because it was food, water, and order you know, disaster and jimmy tell me what people want today because you know, from an outsiders view someone might say look, the extradition bill has been put to rest were not seeing that. What is china doing to continue to show authoritarianism and worrying protesters and arent feeling better about the situation today . Well, because first, because the police has indicate people to respond in violation. You know this is a problem. And also is because people cannot trust the chinese anymore. Without the universal suffrage we know that our e free them and well always be encroached and i think this time this student got trapped. You know, fall into trap of the police because of few days ago, there was also a surveillance from test in university that university is in the outskirt and is surrounded by mountains. So the student can go anywhere they like. But this Polytechnic University is in the city. Once the police and nobody can come out. And anybody who comes in will be arrest by the police. And i think that the police, i dont know im just you know im just guessing you know trying to stir up the surveillance or protesters to respond in violence so a lot of young people can came to the aid and now all are tracked inside the university. So i think that police track them and wanted to at once arrest a lot of those students. You know, the force from the beijing state is pretty incredible chinese soldiers leaving hong kong bare for first time helping clear streets of debris. Was this symbolic to saned signal about China Military strength in hong kong how did you see it . Im sure it is symbolic and also you know because they are doing something very mundane. That they want people to get used to them coming out had is illegal for them. For them to come out to the hong kong affair so you know i think this is very symbolic and thats why you know the press here and everybody is, you know, protest eking about the coming out even if theyre trying to clean up the road. This is not their job. Giving significance of mask being unconstitutional i know you have security cameras all over the place in hong kong, and facial recognition trying to identify everybody who is at those, those rallies. And do you think bay yin is going to be forced to deploy more troops in a forceful manner . No i dont think so. I dont think they would do that especially when the war with the u. S. Still going on and i dont think at this situation in china when the economy is lying that they would do Something Like this to risk the well i dont think they would do it. I think they have to depend on the 30,000 they have here to suppress, you know, the resistance. Jimmy is this all going hong kong my is now in recession. There have been fatalities here. The world is viewing hong kong differently than we viewed hong kong in the past. How does this end . Right. We dont know how it is going to pepped but definitely when the violation has created in both sides it is going toe end very soon. You know, the violation the grace that they come to a point of expulsion if that comes it will end. I hope that after this episode in the polytechnic or the University Something will come down because we have an election on 24th. I hope after the election, if democrats we at least have the majority i think people will be more calmed down because they can see that we can have two to resist the government one is in the legislation, and another is on the street. So we have two channel as to do that. We dont have to be extreme. If we can tend to go to the extreme of violence that might end. And real quick on that election do you think youll see a fair election. We know that universal suffrage is something youve wanted from the start. Go ahead. I think it is going to be fair and only thing i worry that violence from also turns some people disgusted that may turn more and a bit back to the other side instead of you know we were thinking that there would be overwhelming on or side and i dont think this will be what will be the result. All right leave it there thank you for your courage and leadership good to talk to you live in hong kong right now and turn to market we are poised for another recordbreaking session and China Ministry of commerce says u. N. China had constructive trade talkses over the weekend and what are you expecting . Im loving the market right now and fantastic earnings say were going to slow down and it doesnt happen and seeing benefits of domestic markets changes of trump put in place many, many, many months ago rrms on regulations that are now showing up in earnings thats what i think. Tax reform hasnt had an impact yet so im excited about next yore and frankly if we just get this light trade deal just the Financial Services that boost the secker to thats been falling behind for two years now. Thats why youre seeing financials moving im liking everything right now, and reason the market doesnt care about hong kong is the truth about that very few people are in that little rally. You know we get press shots or tight very closeups of riding student but there werent that many of them. There was a big portion of the overall population in hong kong that came out from the beginning two Million People and that was the beginning but now these weekend rallies we want to call them and not insensitive to students but market doesnt care for a specific reason it is not going to impact earnings clings not going to crush them and world is watching and i think everyone makes assums past election this will not be a factor. Well see about that. I think that hong kong has to be a pressure for xi jinping but economy is doing really well at 50 year unemployment on jobs. Youve got deregulation really having an impact yet all you see in the media is about impeachment and these negative stories about President Trump. Yeah. Absolutely, except that American People dont, dont see it the same way when you look at a lot of polling theres some really Interesting Articles especially in some of the Battle Ground state. People aring looking at the economy people people are feeling good about it and not feeling necessarily good about impeachment hearing and in all polling across the board there was no change and how people are feeling that people hated the president before. They continue to hate him and like the president an continuing to support him and arent sure theyre still unsure theres nothing out there thats really moved the people at this point. The economy, though, is a really strong suit for most people out there. Looks like were going to end the year strong in the fourth quarter. Absolutely. Consumer is darling of the economies and low unemployment very low unemployment and low inflation and shop for the the holiday and it should be strong. Lets talk saudi arabia on the evaluation there as much as some hoped for and thanks but no thanks hewlettpackard and find out what was behind that when we come back. Stay with us. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. Welcome back another mass shooting overnight Cheryl Casone on headlines now. Maria so sunday night it was a tragedy for people dead at least five wounded after a mass shooting at a home in fresno, california, family and friends were in backyard of the home l watching the rams bears game when shots began to rang out. Police are now searching for the shooter. Well hp is rejecting a propose takeover from xerox but leaving the the door open for a deal to maybe combine the two companies. Hp says the 33 billion dollar offer is too low and when involved too much debt our charlie is reporting that Due Diligence could start immediately. Plus hb and xerox are facing public challenges as demand falls for printed documents in inc. That play again. Ford is big on electric and unveiling rival and it is a mustang big reveal of the mock e. Taking place ahead of the los angeles autoshow, this all happened last night by the way. The suv range can go up to 300 miles on some of its moldses. Taking a look at ford in premarket stocks up a little more than one percent. Pretty cool car. And lets stay request this. Because cruising number one ford versus ferrari win at box office an estimated 31 million dhars the film beat world war ii movie midway. And in the charlies angel reboot came in at number 3. Ill send it back to you guys i didnt see any of them. But because christmas is started in my life so you know i got things to do. In our lives cheryl thank you. Quick break and focus on big oil and prepares with a trillion dollar evaluation. Plus why some say it is not even enough were going to take a look next and unlikely allies over her music rights. To Elizabeth Warrens fight over private equity. Wait until you hear this one. Back in a minute. 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. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. the enchanted disney fine jewelry collection. 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Plus, you can save up to 400 a year. Click, call or visit a store today. Welcome back preparing to go public with a hefty evaluation up to 1. 7 trillion dollars. This is World Largest ipo ever but evaluation coming in short of the two trillion dollars promised by crown prince muhammad joining us right now is phil flynn from Price Futures Group and renaissance founder Kathleen Smith so let me kick it off with you your reaction tell us how it impacts the oil market. I think all of the king sources and kings men couldnt get 2 trillion e evaluation that crown prince because theres a lot of risk out there. You know despite the fact of this being the world most Profitable Oil company theres concern about the credibility of the saudi government especially after the killing of the Washington Post reporter. You know, of course, you have concerns about Global Climate change, and you know other concerns like that that are making this a very risky endeavor for them and i think a lot of Foreign Investors have turned away from this because they are concerned about what oil prices in the socalled peek demand oring for oil thats going to slow downs in future. I dont believe that but a lot of investors do and shying away from the ipo. I have investor here on set that says you know what it is looking you want to buy it. I will. I will let it trade. This is low essex traction cost on earth under 8 a barrel. The large pest on earth i went to react and just in last 30 days opened electronic visa and anybody can go now. Pouping is 70 under age of 30, the print is first step and place is booming. I have such a misconception about that country im going long and invest in real estate there and im going to invest probably in health care, and oil, and probably entertainment because they dont want people going to rain or debiding or entertainment at home the place is so misunderstood. Really think people are going to go to movie and women are able to drive alone, and those issues can be dcial maria i went for extra day to stay is there so i could walk the streets. A lot of people dont understand because it is hot there in the summer the Society Moves into later hours 4 00 is basically lunch time and at night Walking Around 11 00. Thats a society is so different than the perception people have lots of women working lots of women driving. This place is so misunderstood it trades at a discount im going along saudi. When we were there i was struck dead i felt like there was nothing to do other than holings. Not anymore. This was only two year ago. You should see changes. Katly let me ask you about Broader Market because several silicon darling went public including uber look at wework others over erratic behavior of the former ceo adam newman and jay joined me on friday last week heres what he said about the ipo market. Are you concerned that you see evaluation in private market skyrocket . Put the the ball in liquidity. So much of the growth phase of the companies is occurring away from our main street investor i would love to see our main street investor get in earlier as companies are growing up. The second apartment of your question is, you know are we seeing evaluations that are too high or too low . Inevitably in markets people have evaluation mistakes and resets and that happens web and i think some of the ones that we have seep you know, are reflective of people expectations being out of line with the reality. So kathi smith what is status of the ipo market right now . We say it is very good for investors. We run an index index and that index is up over 30 this year, and over the last two monthses vo significantly outperformed the s p 500. And the reason is that investors aring being very careful about the price they pay for ipo they have a price discerning market we were through a very weak period in july, august where the price discovery was very poor and pricing was very poor on uber e on lyft, on smile direct and now weve come through that. Thats been resolved and the prices for ipo coming out now are very attractive, and with the saudi ipo for example were not saying premiums on that ipo. And so the way thats being offeredded and if you look at whats happening currently in ipo market your average ipo is priced well e below midpoint of the range and materials are strong this was a good time for investor to be paying attention to the ipo market. Going to be relatively small listing in saudi. What is that do from a price discover perspective for other markets that have made tradein . I think thats a very good point because i think we were all hoping that this ipo would trade in other markets if besides the wall, and also the com

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