Transcripts For FBC Mornings With Maria Bartiromo 20240713 :

FBC Mornings With Maria Bartiromo July 13, 2024

At 8 30 a. M. Eastern. Major retailer reportedly ready to file for bankruptcy. Commerce secretary wilbur ross will join me in 30minutes time. Markets look like this, fractional gain at the start of trading, dow industrials up 13 points and s p half a point and s p nasdaq up in 22. Dow trails finishing up 377 points, the nasdaq was up 32. Headed for third consecutive week of declines. Controversy is growing in general flynn case. Calling for fbi report that officials claim have vanished. Mornings with maria live. Global markets look higher across the board. Cac quarante is up 34 and dax index in germany up 179. Bank of england governor Andrew Bailey says negative rates are not being considered this following comment of jay powell this week and Germany Economy shrinking 2. 2 in the First Quarter. In asia markets were mixed. More signs of slowdown in china overnight. Retail sales there for the month of april were out, they were down 7 and a half percent. Then there was industrial output showing a slight rise as the country eased up out of lock lockdown. Some of the top stories we are watching this morning. The white house threatening to veto stimulus package that the house plans to vote on today. House Speaker Nancy Pelosi is admitting it is unlikely to pass. We are saying, okay, here is our offer, lets see where you are, sadly, though, leader mcconnell said we have not felt the urgency of acting immediately. He wants us to just pause. He wants us to just pause. Families know that hungry doesnt take a pause. Maria heros act include making certain undocumented immigrants eligible for 1200 payments and funding for vote by mail and sameday registration priorities. The fda is looking into the accuracy of avid labs and whether there could be false negatives. It may only catch cases half of the time. The test is used daily on President Trump and members of his staff. The securitys and Exchange Commission reportedly investigating Public Companies that received loans and regulators asking the companies to prove that they qualify to receive a share of the 660 billion in the payroll protection program. Many Small Businesses went empty handed after hundreds of companies took loans amid the covid19 pandemic and barstools sports founder dave take to go social media in profane rant against current covid19 lockdowns. Whatever is going on . When did this become flatten the curve, flatten the curve to we have to find a cure or everybody is going to die. They are going to go out of business . Maria yes, told fox news Tucker Carlson that took ten years to build the company and rather die from the coronavirus than start over. Tesla ceo elon musk has been critical of lockdowns cheering him on even to run for office. Lets take a look at markets, futures indicating fractional gain at the start of trading. We are waiting april sales this morning, out at 8 00 a. M. Hour. We will also be watching the jobs numbers, of course in the coming weeks and initial jobless claims 3 million americans this week. We spoke about reopening and Economic Growth moving forward. Lets talk about the reopening of america right now. Half of the states have begun this process, is it too soon . I want them to open when they can and when they want. We had the greatest economy, maria n history, you report it every morning. The greatest than anyone had ever seen, best stock market numbers. We have to bring the economy back and you will have third quarter, people are starting to get into that right now but its going to be a transition thats a transition quarter. We will do well in Fourth Quarter and i think next year with all of the stimulus and the things that we have done i think we will have the best economic years that we have ever had. Maria joining me ken mahoney, Dagen Mcdowell, senior fellow mattie duppler. Good morning. Maria what about the president saying its a transitional quarter and hes expecting growth in the third and Fourth Quarters, how do you see it . Kennedy i hope so. The stay at home economy that we are seeing right now is benefiting Companies Like netflix and amazon and will continue for some time and theyll be some people who are early adapters and will get out there right away and others because of their health and because of their aim really sit back and wait for science to prove itself before they get out there and get more aggressive. I think we will still have the have and have nots, do i like the president s optimism, you want the leader to be optimistic of the future and that helps pave the ways for others to follow his lead. Maria Jon Hilsenrath. Jon i want to ask ken a quick question, talk about bringing supply chains back to the u. S. Certainly whats happened over the last few months has raised all kinds of questions about trade relations with china, what are the consequences of companies that have invested so much infrastructure in china if theres a bye america, bring manufacturing back to the u. S. Push and how does that change the stock Market Outlook if at all. Ken i think in a generation from now they will thank us for doing this. The generation or two from now, wow, that was a turning point to bring central manufacturing to the United States. Taiwan plant opening in arizona. We cant be reliant on this. The president said to maria yesterday we get 20 from turkey, 30 from china and you put things together around the world and if one country falls out, you lose supply chain. It doesnt make any sense. I think the president is right. That interview hit it right on, bring back social manufacturing to the country. Whatever it cost, we have to do it. Maria when i spoke to the president maybe theres a tax incentive to get companies to come back, move that gets companies to say lets start the process out of china and go elsewhere. Is there a investment, ken, healthcare was among best performing sectors this week, technology has been near highs as well. Would you buy into this or is there another way to invest around all of this . Ken yeah, first of all, we keep timings short. We go with the leaders which is technology, healthcare, we stay away and so many try to catch airlines, hotel chains and retailers and all the names, i think its going to take some time. The market is on a vshape recovery, we do like a w. Hopefully the president is right, second half of the year, early next year we get the continuation of the w. So, again, i think the best way to play still stay with technology, stay with the leadership. I know its a crowded trade. We heard this over and over again and the valuations so forth, but technology let us before the virus and certainly on the way out of it with more demand because of stayhome economy, i think its the way to go. Individual names, microsoft, our favorite name, the way they run it between gaming and cloud. Microsoft is right there with the stay home economy for now. Maria gaming has to be gaming in this environment thats for sure. Have a great weekend, my friend. We will see you soon. We are Getting Started this morning. Coming up a big show commerce secretary wilbur ross on bringing crucial manufacturing back to the United States, wait till you hear this. At 7 00 a. M. Hour Debbi Dingell on the states reopening and Jeff Sessions is here on the masks and unmasks of general Michael Flynn and jaywalker here on americas race for covid19 vaccine and how china is trying to beat us to the punch and in the 8 00 a. M. Hour Fox News Contributor and South Carolina congressman trey gowdy on whats next on the case of general Michael Flynn. White house trade adviser Peter Navarro on bringing Critical Technology manufacturing back to the United States and the cofounder of home debo joining us on beijings response to the coronavirus pandemic. Dont miss a moment of it. Jampacked 3 hours. Quick break and then what obama intel officials knew and when they knew it the fallout of the unmasking of flynn and the spotlight on john brennan and James Clapper. We will get into it right here. The weather changes. Your tractor can change with it. When its hot. Stay cool. When its cold. Stay warm. When youre hungry. Plant a vegetable garden. When theres a lot to do. Do it all. And do it right. With power. With versatile performance matched attachments. Without breaking a sweat. Comfortable. Ready for anything. The new kubota lx series. Maria welcome back, unmasking and exposing the investigators, Senate Judiciary committee Lindsay Graham announcing investigation into the russia probe. Hes suggested to put former president obama on the stand. Former cia director john brennan and James Clapper breaking silence after being exposed as among those unmasking general flynn, watch. I think our country is in very serious trouble. When you have such blatant political corruption at the highest levels of the u. S. Government, something i never thought i would see in my lifetime. Its a routine thing and appropriate and legitimate when you have a valid foreign intelligence target engaging with a u. S. Person. Maria joining me right now is Washington Examiner chief Political Correspondent and Fox News Contributor byron york, great to have you this morning. Great to have you this morning. Im speechless. That sound bite from john brennan was just rich talking about corruption at the highest levels now that we know that he was among those wanting to unmask general flynn and he was also one of the architects of the effort to take down donald trump as per the president this week. Your reaction. Byron well, we have to know a lot more about this unmasking. Weve got a list of names, some of them were blacked out by the way. Got a list of name of people who had requested to unmask flynn during the transition period. We were told that everybody had the authorization to do so, everything is fine, but we dont know why they were doing it and we need to know that. A lot of the requests to unmask flynn came in middecember, they came before the famous phone call with the russian ambassador. Well, what was that about . I dont think we can take peoples word that everything is okay. We need to know the circumstances of these requests for unmasking. Maria so its more than that, you know, this is just one case general flynn, but we know that carter page was wiretapped unlawfully and informants ran into George Papadopoulos and the president this week told me that he believes john brennan was one of the architects here and we need to know more and we will probably only know until we get john Durham Report, investigation thats under way right now. Does it surprise you that brennans name is all over this . For 3 years hes been telling us that President Trump committed treason and, in fact, looks like the opposite. Byron hes been very outspoken ever since President Trump took office and here is the thing, what was interesting is we had all of the investigations prior to this and nobody has really paid a lot of close attention to the role of john brennan. We had we learned so much from the House Intelligence Committee finding out what the fbi did, finding out about the dossier, use of the dossier, carter page, fisa, all that stuff, it was all useful but didnt tell us what john brennan was doing. Youre right, the durham investigation seems to be the only chance to find out because the horowitz report, the inspector general, very informative could only look at the justice department. So john brennan being a former director of the cia was not part of that, so youre right, the Durham Report is only chance i think we will have to find out what brennan did. Maria well, in fact, Dagen Mcdowell, i had been looking at john brennan and his participation in a couple of years and later we will talk with trey gowdy and play a sound bite what looks like brennan lying to trey gowdy and lying to congress during a testimony. We will play the sound bite for you later. Dagen mcdowell, please jump in. Dagen many people with either direct or indirect knowledge of what was going on you talked about this, think that this entire investigation of the Trump Campaign started initially after after now President Trump announced that he was running for the presidency. It was even before he won the nomination and information from overseas started coming in through well, the cia acting as a Clearing House and that was fed into the fbi. One thing, byron, the other parts of the media who sold the russia collusion fable to the American People and now their attitude is to dismiss anything that basically blows up the story that they were peddling and called partisan politics and blame certain corners of the media. Will we ever get some honest, hardcore reporting from corners of the media world on this even after the Durham Report comes out . Byron well look, they are very invested in what they reported, they won prizes for it and praise for it. I dont think they want to see it undermine by revelations and what was going on. Youre seeing a lot of stories today saying that President Trump is trying to rewrite history. Well, you know, when you learn new things, you do have a different view of what went on and if i could bring up the Michael Flynn case specifically which is taking a really interesting direction. We dont know what that judge is going to do in the Michael Flynn case, but we still dont know after all this, we still dont know specifically what Michael Flynn said in that phone in that conversation with the fbi that got him charged criminally. Maria yeah, all right, byron, we will be watching as you will as well. We will talk with you. Thank you so much, byron york joining us there. Stay with us, we will be right back. Arning, and concentration. Try neuriva for 30 days and see the difference. Safely, and beautifully, is installed quickly, with a lifetime warranty. The beautiful bath youve always wanted, done right, installed by one expert technician all in one day. Book your free virtual or inhome Design Consultation. So were working 24 7 toected maintain a reliable network, to meet your growing internet needs. Were helping customers who are experiencing Financial Difficulties stay connected. Were increasing internet speeds for low income families in our internet essentials program. And delivering selfinstall kits to your door. Nos comprometemos a mantenerte conectado. Were committed to keeping you connected. For more information on how you can stay connected, visit xfinity. Com prepare. Maria welcome back, the u. S. Is changing relationship with china. During my exclusive interview with President Trump i asked the president about tougher rules for Chinese Companies which are currently listed on u. S. Exchange, watch. Will you go one step further and force that Chinese Companies have to following rules if they want to be listed on New York Stock Exchange and nasdaq . We are looking very strongly but its run by the obama appointments, right, we said you have to do this and we will find out whether or not they will do it very soon and if they are not, we will replace them very quickly. And we are looking at your second part of your question, we are looking at that maria joining me right now is roger robinson, the president and ceo of rwr advisory group, washingtonbased research and Risk Management consulting firm. Roger, great to have you this morning, thank you so much for being here. Roger thank you, maria. Maria lets talk about the importance of what the president is doing, thrift fund 500 billiondollar Retirement Fund for military past and present. The idea to put 10 of the money, 50 billion into the msci index which is including Chinese Companies but the president has pulled the money back. Your reaction. Roger well, i think its a seminole development. I mean, a real watershed, for 20 years we basically either had willful neglect of Chinese Companies entering our market or malfeasance look into it and some of these companies as the president learned are bad actors. I mean, these are companies that have engaged in National Security and human rights abuses. Several of them in that index are sanctioned, list or Commerce Department or barred from doing business from the United States because of past offenses. So this is a terribly important step that hes taken and its really correcting a glaring v

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