Transcripts For FBC Mornings With Maria Bartiromo 20240713 :

FBC Mornings With Maria Bartiromo July 13, 2024

And full analysis. The stocks going into it are higher. Futures pointing to gain at the start of tradingment broader looks good. Look at futures. 280 points right out of the gate. S p 500 up 29, better than 1 and nasdaq higher by 115 points, one and a third percent. This after the dow, s p 500 much of the needed money. Lindsey graham right here. Former Vice President joe biden picking up major endorsement from former rival senator Bernie Sanders. Mornings with maria live right now. Maria Global Markets this morning also mix today. Take a look. Ftse 100 down 25 points. Cac quarante down 2 points but the dax in germany down by higher than 11. Better than 1 . French president aim to go start opening economy and schools on may 11th, in asia overnight green across the board, take a look. Good tone overnight for the asian markets, better than expected Economic News out of china this morning, exports were down in the month of march from a year earlier. Import down 9 tenths of a percent. Both numbers better than estimates overnight in china and as you can see the shanghai composite up one 1 and a half percent. Japan did well better than 3 . Oil prices falling despite leaders agreeing on Production Cuts. Fox interview this morning, saudi arabias minister, bin solmon, all that coming up this morning on tuesday morning. First, though, some some of thep stories that we are watching this morning, four states are now under a state of emergency this morning for both covid19 and Severe Weather. Brutal storms killing at least 30 people and flattening communities after more than 50 tornadoes rift across the south. President trump is helping to raise spirits promising the federal government is there ready to step in. My administration will do Everything Possible to help communities get back on their feet. We are speaking with the governors and representatives, fema is already on its way. We just want to say warmest condolences and we are with you all of the way. Maria despite risks of covid19, though, officials are urging number one priority protecting yourself from potential tornado. Strong storms expected in georgia and florida along the coast. We will be watching that. Number of cases of coronavirus worldwide is nearing the 2 million mark. Those numbers doubling in just under 2 weeks. The u. S. Still leading the list of Top Countries with the most cases if you believe where china is. This as another grim milestone here at home. Officials confirmed first death of the virus. Americans have died in all 50 states from covid19. Theres a little bit of good news, Governor Cuomo says the worst is over, quote, unquote, this can only work if the state follow social distancing and other guidelines and says we have to keep at it. New york seeing the highest death rate of them all within new york. President trump says he has now total authority when it comes to how and when the reopen the economy amid coronavirus pandemic. The president making the statement to reporters yesterday after two groups of governors say they will Work Together to gradually allow americans to return to work. The president added that his administration is close to completing a plan to reopen the country. Amazon ramping up to meet consumer needs, this week the company thirdparty sellers can start shipping nonessential items. Amazon says Technology Giants makes the decision to prioritize household staples and medical supplies last month in response to the coronavirus pandemic with millions on lock do you know, amazon has faced a surge if orders and also announced that it wants to higher 175 workers across the country and stopped taken new customers because of surge in demand. Another win for george h. W. Bush, the former Vice President receiving endorsement from former rival Bernie Sanders pledging defeating President Trump in december. Endorsement key moment but not everybody on board. Some former sanders staffers say they will not support biden for president. Biden winning the wisconsin controversial primary that took place while stay with us under state at home order. Global stocks are rising this morning as the virus fears are easing a bit on the heels on some of the good stories like Governor Cuomo saying the worst is over. Markets pointing to a gain, take a look at futures, 275 points right out of the gate. S p is up 28 and nasdaq up 114 in hopes of reopening the u. S. Economy. This morning we will hear from two of them, Jpmorgan Chase with wells fargo this morning. Heavy hitters due out later on in the week. Later we brought you a story that said forget about the earnings and revenue of the quarter because we know its not going to look good and we know what to expect given the march situation of covid19, look at the Balance Sheet and debt convenance. Brent is here along with fox business dagen mcdowell, the wall street journal senior writer, jon hilsenrath, reporter and host of secrets to wealthy women podcast veronica. Thanks for having me. Dagen morning. Maria brent, do you think we will see things get back to normal sooner rather than later on how to do it . How would you propose doing it and what do you think of markets reacting to that . Well, i do think youre seeing positivity and we cant wait until we have a virus treatment. Im interested to see details of the plan because the plan needs to start sooner rather than later and having the testing would be very important. Thats a positive towards the u. S. Economy. Maria jon hilsenrath, we have been waiting to see how we will see an opening here. Maybe its sector by sector, a slow opening, how do you see it . Jon everyone i talked to talk about something stage and gradual. I do think its probably a slow opening and its critical based on what i hear from economists and policymakers and Health Experts that there would be pretty extensive and elaborate system in place in order to make that happen so people feel comfortable going out there. People arent going to go out unless they feel comfortable that they will not get the virus out in public. Maria right. Thats why its also about the health part of this, brent, we really need the buyin from the health professionals, dr. Birxs and dr. Fauci saying we can do this. Absolutely, i think you need more data. Every time i make a decision, we need more data. I believe thats a step that we actually need to take and i do believe it would be rolling or gradual but i do believe eventually the u. S. Economy will recover to its fullest but just beginning the process now is incredible by important and i hear so much of a discussion on whether its u or a v. As long as its not an l. Now its time to start rolling the economy back into action and continuing to learn how we do that. Maria when you say not on l, veronica, jump in here. You dont want to see a flat scenario where you have it bump along the bottom for a while like an l shaped. Thats a new one. I hadnt heard that one either. Veronica me neither. Whats the breaking point of retail investors. Some Financial Advisers i speak to say wait 6year portfolio and lets see next quarter before we put money to work, what do you say . I hate to bring it back to that, i kept hearing a few weeks ago on the bottom which i do think its more of a bottom because of the monetary and fiscal policymakers have done. The question people were asking is this october 2008 and i kept making the comment it doesnt necessarily matter if you have a one. 3year time resident. As long as they didnt panic when the money did make new fresh lows, disappointed 1, 3 years, 25 years later. Begin to think about adding more cyclic al sectors because on the other side of this at some point theyll be be recovery and some of the cyclical maria well, one issue, one group is the banks, so the journal this morning writes that the Bank Earnings would be a window in how severely the coronavirus will impact the broader u. S. Economy with new zero Interest Rates and how it quickly contracting economy points to major threat. What would that signal about the broader economy, we are waiting this morning on jp morgan which may very well set the tone. I think people are looking for the banks and has all the work that weve done since great financial crisis. Since Balance Sheet rebuilding, have studied them enough of great financial crisis again. I think thats where the focus is going to be. The earnings is up for grab but its more of does this income statement event turn into Balance Sheet of that which we dont believe it will. I think theres still a lot of fear that somehow this turns into a financial crisis like 2008, like 1929 and both of those were called great recessions or Great Depressions, they god the adjective great before it impacted the system. Dagen i would like to hear jamie dimon speak about response to business customers at the bank on the Paycheck Protection Program and how they have been totally unresponsive to them. I think thats going to be a huge problem. These large banks were bailed out by the american taxpayers. Theyve been dragging their feet and getting this money out to their Small Business customers. I know its only been a little over a week. The money has started flowing but did they add staff to process these loans . I think long run for the large banks, they took market share after the financial crisis, they had the fed and the government at their backs and they have not stepped up when these people needed these loans most desperately, maybe the money starts flowing now but this program because congress is also sitting on their backside is running out of money, so they need to answer that as they report earnings this week. Maria brent. Thats directed towards me . Im sorry. In general i would say that most of the the fiscal and monetary stimulus this time has been much, much faster than 2008 and it hasnt been perfect. Thats to be expected, i think, when youre rolling something very quickly. Dagen it hasnt been fast because of the banks and these are the people who needed the money most desperately and these are the people, jobs in the country that are critical to getting the economy restarted and what we would look as a nation on the other side of this and the performance of the banks has been poor. Maria yeah, to be clear, i think dagen, the banks were unclear as far as how to allocate the money. There were some questions in in the description in terms of who would be who would be the right businesses. Dagen Jpmorgan Maria go ahead. Dagen jpmorgan wasnt answering emails. They were not communicating with customers. All they had to do and tell them what the holdup is. They didnt get that and i heard from that literally dozens of customers of Jpmorgan Chase. Maria brent, thank you very much for being here. Thanks for weighing in. Stay with us. We will be right back. Your work is essential. Thats why kubotas 1,100 dealers are working to keep you working. Call or email your kubota dealer about 0 financing. No payments for 90 days offer expires 5 31. Together we do more. Actions to help prevent the spread of respiratory diseases. Wash your hands. Avoid close contact with people who are sick. Avoid touching your eyes, nose and mouth. Stay home when you are sick. Cover your cough or sneeze. Clean and disinfect frequently touched objects with household cleaning spray. For more information, visit cdc. Gov covid19. This message brought to you by the National Association of broadcasters and this station. The one thing we do know is Health People as physicians and scientists and public Health People. As i mentioned i think that over the weekend on one of the shows is that some people hi may think its like a light switch on and off, we are either out or we are in. Its not going to be that way. We have a very large country and there are different impacts as you see. New york is very different from other parts of the country. Maria that was Infectious Disease experfect dr. Anthony fauci speaking at the White House Task briefing and says parts of the country could have a rolling reentry still under stay in place orders. Now we see its 13 feet. Now joining me dr. Mark. Good to have you this morning. Thank you very much for joining us. Tell me about that and the 13 feet situation. That means if youre out and a about and Somebody Just coughed in the air and you didnt see them it could still be in the air. Good morning, maria, good to be with you this morning. We have studies that have even shown up to 27 feet. University of nebraska which has seen first patients of the ship found that they found droplets among people who had walked out of the room. Can that part 13 feet or 27 feet . Can that cause infection . We know large droplets that you see when we cough or feet can travel 6 feet in the air. The question is do smaller particles that travel further, do they still have the same impact . My advice to keep as much distan as you distance as you can between yourself and theres a reason for that, we need to protect ourselves. Maria right, right. Do we think we are ready to go back to normal routines or do you think we will have social distancing with us regardless of whether the economy opens up, we will have a different behavior . Thats the multitrillion dollar question and how do we define morality. I think as we heard from dr. Fauci and other experts probably a rolling process. I think we will all be cautious of our distance between other folks and certainly Infection Control making sure we wash our hands. Its going to be a process. Maria so researchers calling off a small brazilian study on the antimalaria drug, hydroxychloroquines ability to combat covid19 after some patients expected irregular experienced irregular heartbeats. I foe we have been talk about the those vulnerable and we heard that some are patient after hydroxychloroquine. Hydroxychloroquine is the drug thats been use today treat malaria and certain other immune diseases. The issue that we look at for every drug is the safety and efficacy and we need to know how do you administer it. [inaudible] maria yes. Dr. Mark, good to see you this morning. Greatn insights. Dr. Saralyn mark. We will be right back. This is an athlete, twenty reps deep, sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Confident Financial Plans, calming Financial Plans, complete Financial Plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Theyre all possible with a cfp® professional. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] maria welcome back, so roku seeing major bump in business, the company adding 3 million accounts as americans remain in place due to coronavirus. Streaming services across the board are seeing increase in viewership. Netflix reaching 52week high and stock surging up 7 , stock up again this morning 1 on top of all of that. You saw the same thing with zoom, jon hilsenrath, you got Certain Companies there that are really very well positioned to benefit from stay at home orders. Jon we seem to be seeing that. I want to throw a proposition to the rest of the panel which i noticed is all women, the stay at home part and streaming part is much harder on men than on women. Theres no sports anymore. Im tired of watching old series and old super bowl. I dont know how you feel about that. Dagen jon hilsenrath, i love you but thats sexist because that assumes that women dont watch sports and i watch as much sports like anybody on the planet. Boo on you. Jon you watched the tiger thing. All i do is watch sports. I dont want the tiger thing. Veronica jon, my husband has seen the tiger episode. Check that out, that will entertain you. Jon im sick and tired of harry potter, thats all my kids do is watch harry potter. I dont get it. Dagen one thing i would add about the streaming companies, the upside down logic to this is every american would have consumed every show or movie that theyve ever wanted to watch on the streaming services so on the other side of this, we will cancel all of them and take a 2week trip to disney world instead. [laughter] maria speaking of disney, disney chairman bob igor reportedly taking back the reins back of the company. Isnt it interesting that igor had resigned in february and now the company has been force today close all theme park as cross the world during the covid19 outbreak but steaming Service Disney plus seeing a major surge in business reaching 4year target of 50 million subscribers in under a year but isnt it interesting that bob igor running the company because they had to make all of the drastic moves . Dagen during a crisis like this and this applies for every company its all hands on deck and if you dont pull bob igor who had been there for so long who is a genius at running the behemoth, if you dont pull him back in your team, thats a mistake. What they are doing is right. I think they are losing 30 million a week just on theme parks. Maria it definitely makes sense to bring him back. Its interesting that hes back in place. We will take a break, when we come back a big exclusive on the other side of the space. Royal highness prince bin solmon. Saudi minister of energy. Maria welcome back, good tuesday morning. Top stories right now 6 32 a. M. On the east coast. Markets are high

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