Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

Coming up. The future of the Supreme Court hangs in the balance the death of Justice Ruth Bader ginsburg sparking political debate plus her friendship with Antonin Scalia coming up and Kayleigh Mcenany is here and eugene will join me at 8 a. M. Eastern. Mornings with maria is live right now this monday morning. Global markets this morning under selling pressure underway this morning, the down 207 points and cac down 153 and dax in germany down 400 points. 402 loir concerns of growing about u. K. Economy and it is going to go into a second lockdown over the coronavirus cases as they rise. People in the u. K. Who violate selfisolation rules face fines now of up to 13,000. In asia overnight decline acrossed board there as we also on heels of three straight weeks of decline in the u. S. , as you can see japan is closed for a holiday, but the worst performer in hong kong hang seng index down beaters than 2 . Hang seng down 2. As hsb shares slide to a 25year low. Weve got the news on bank this is morning a report detailing lapse in, quote, suspicious activity reports. For a number of banks, hong kong hank stang, hsbc rather among them. Now some of the top sthiers we are watching this morning. The debate is intensifying over whether President Trump should fill the seat of Supreme Court Justice Ruth Bader ginsburg ahead of the november election. Joe bide about calling on republican senator not to push to replacement. Watch. Donald trump wins the election, and this the senate should move on his selection. And weigh the nominee he chooses fairly if i win this election, President Trumps nominee should be withdrawn. As a new president , i should be the one who nominates justice succeed successor. House Speaker Nancy Pelosi threatening impeachment to stop the process. We have our options. We have our arrow in our quiver that im not vowed to discuss right now. But the fact is we have a big challenge in our country. This president has threatened to not even accept the result of the election with statements that he and his henchmen have made. Maria white house respond saying speaker threatened to impeach the president again for fulfilling his constitutional obligation. Newest democrats are threatening to pack the court and say things like nothing is off the table. These are bizarre and dangerous by democrat who is will stop at nothing to erode the constitution to enact their radical agenda. Judges amy, coney baiters and barbra are believed to be at the top of the President Trumps list to replace ginsburg. President trump giving his blessing to an agreement that would give wall marts and oracle 20 stake in tiktok with a new u. S. Based Company Called tiktok mobile. I have given the deal my blessing if they get it done thats great. If they dont thats okay too. I approved deal in concept yes. Maria the deal which is still pending final approval by the companies is worth 60 billion and would have oracle become responsible for hosting all u. S. User data. And response to the deal the Commerce Department has the latest ban on new downloads of the app from one week. Weve got more on this story coming up. The u. S. And on the verge of surpassing 200,000 coronavirus deaths. California reporting more than 4,000 new cases for a second straight day. And in arizona, new cases are slowing after a twoday spike last week. This as health expergts warn could experience one more cycle of the deadly virus this upcoming fall or winter. Violence in some of the nations biggest cities rising figures from the nypd show fatal shoot physician in new york have nearly doubled this year. With 209 fatalities this year compared to 109 over same period a year ago as 39 people with shot over the weekend in chicago. Six people were killed. It follows 54 people shot last weekend 12 others who died. A Global Market selloff is underway this morning futures indicating a sharp decline right out of the gate as you sees dow industrials down 560 battle over the Supreme Court and stimulus stalemate weighing and trust chief Investment Officer joining the conversation all morning is fox business Dagen Mcdowell the wall street journal assistant Editorial Page Editor James Freeman. Great to see you guy this is morning. Thank you so much for being here. Katy let me kick this off with you we have a witching technical issue for investors last week. Is that part of this this morning . To what do you attribute this big selloff going on . Thats no part of it this morning maria thank you for having me. I think you covered really well in the upfront whats going on in the market right now it is the two ps we have negative news on the pandemic not just in the u. S. But conditions abroad are worsening. We have a spike in the u. K. Leading to fears of another lockdown and we have some hot spots in europe also that are worrisome as well as data here in u. S. Which is sort of what fits and starts going in wrong direction. So i think it regardless of whether whether europe or u. K. Or everyone the u. S. Goes into some sort of another lockdown, ping people are just going adapt to the growing risk and thats going to mean more social distancing and a less robust recovery. The second p is on policy, and as you said, the election this election was going to be interesting in any case and it just became a lot more interesting over the weekend with the death of Justice Ginsburg i think will probably exacerbate for contested election but really im sorry minimize the potential for really much needed fiscal package coming out of d. C. So the political scene, i think, is really driving markets volatility here as well and last they think i should say is kind of in a you have it part of the calendar year to begin with so nots never been a particularly great period next couple of weeks for investors so thats probably not helping either. Thats true. October is usually a messy month for investors. But whats your take on back drop here Economic Growth . Katy do you expect that we are going see growth and earnings improve by year end lets look at fundamentals for a moment. Exactly. Thats the interesting thing is that weve got these risks out there. But the macroback drop is really healthy weve gotten some great numbers. Youve covered really well the incredible improvement would had on inemployment picture and it took 5 years passed to Global Crisis to get down to unemployment this time it took five months weve got robust housing consumer spengdzing so macroback drop here is pretty solids and we expect decent earnings in the third qeartle and going into the fourth quarter. So a real nice recovery in earnings growth. But the vulnerabilitity is around the lack of a fiscal package because what we do know is that some of the programs are running out in september and october. And so we do expect to see sort of more fragility around that back drop as we head into 2021. Prnch so there are real questions about tiktok and this new plan for oracle and walmart to be major investors. Under this plan, bytedance currently owns 08 stake in Tiktok Global. But after a deal that ownership goes down. Oracle and walmart are expected to have the remaining stake but remember u. S. Investors like sequoia and others will be major investors here i spoke with insiders at oracle yesterday and they tried to convince me that, in fact, as this deal goes forward, the Chinese Government will have less and less exposure here. The question is how much will the chinese own, after an ipo said to be about 30 . Whats your take on this and how this impacts the market, once this deal is complete katy Tiktok Global is going to be listed on an American Stock Exchange and at that time the chinese ownership goes down to 30 . But there are still real skeptics on this because the data may very well go back to the Chinese Communist party of american users. Indeed well this is a very fluid story maria as you know, and well see over the next coming daying into november 12th deadline how this shapes up. But i think for invest tossers one thing is superclears that that the hardline to around china remains. And President Trump and probably the next president will continue to take a very skeptical view of china, and continue to play hardball frankly with some of these things. Yeah. Well, like i said, the executives and the sources that i spoke with at oracle yesterday, do believe that they will stop any information from going to commune communist governments and they vosk among safest autonomist technology on market but well have to keep talking about this and get, get the latest on where this goes. Xaity it is good to see you this morning thank you so much. For this this morning from northern. Check out your morning movers thats Deutsche Bank after leak files accuse bank of over a trillion dollars into suspicious transactions. Other banks include jp moore chase and bank doing business with either sanction companies or individuals this is what this is about. Were just Getting Started this morning coming up were going look at fight for florida taking a look at the major money spent to influence the president ial race in key Battle Ground state. Then at 7 a. M. Eastern world on wall street, what investors are watching this morning as the political debate takes center stage. Indiana congressman jim banks is here on the capture the threat from china. Plus White House Press secretary Kayleigh Mcenany joins us on President Trump possible pick for the Supreme Court. In the 8 a. M. Hour this morning ill be speaking with labor insider look at his father angt angt anyone scalia relationship with Ruth Bader Ginsburg mornings with maria live on fox business. We got no free pass. Everything we have, weve earned. The unmistakable lexus is. Get zero percent financing on the 2020 is 300. Experience amazing at your lexus dealer. Im a delivery Operations Manager in san diego, california. 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Claim your seventyfivedollar credit when you post your first job at indeed. Com promo we said that if for any reason, we have a vacancy of the United States Supreme Court, we will fill that vacancy. I will be putting forth nominee next week. It will be a woman. Donald trump wins the election, then the senate should move on his selection and weigh the nominee he chooses fairly. But if i win this election, President Trumps nominee should be withdrawn. As a new president , i should be the one who nominates ginsburg successor. A Supreme Court clash a political battle already underway over the Supreme Court vacancy left by the death of Justice Ruth Bader ginsburg fox news contradict tore Mike Huckabee whats your view on all of this . I think we ought to follow the advice that democrats universally and absolutely gave us in 2016 was that follow the constitution. Let the president make this nomination. And bring it up before the senate. They were all in agreement Hillary Joe Biden Elizabeth Warren Chuck Schumer. Bernie sanders there was no exception. Everyone of them said lets go through. Thats the law. And to quote president barack obama elections have consequences. I know it pains the democrats to accept this because they have not accepted it. But donald trump is elected president. And hes still the president. So you know, people can say well the republicans are being disingenius because they didnt think they had to do it but clear onethird of all u. S. President s have nominated someone in an Election Year thats just a fact. This is not unusual. What really is unique here is that because of harry reid in 2013, and his blowing up the filibuster a majority simple majority of the republicans in the . Ats and republicans hold the senate majority, and they hopefully will continue to, they can get this done. And they should get is t done ad any anything to the contrary is just political talk. But thats what the constitution says. It is what political power means. And this president thank god wants to use it and any republican that doesnt in the senate that doesnt want to go along with him doesnt belong there anymore. Maria and president said that he plans to nominate a woman you heard him in that soundbite for seat as soon as possible. Some of the top contenders are judges amy koney barrett, and barbra lagowa Allison Jones rushing these are the three that apparently at to have the president s list do you know any of these ladies, governor . Not prnl personally i dont all have fine reputations. Good legal scholars but significant is this president has been so transparent about not just the specific people he would nominate to court hes done that given us the list. But more importantly the kind of person. He wants someone who is not necessarily a liberal, qern conservative but a constitutionalist but i dont conservatives on the court. Anymore i want liberals on the court. I just want people who when they read the constitution read it for what it says, say thats what were going to do. Thats right. Absolutely. Let me bring in James Freeman go ahead, james. Thanks maria governor good to see you morning. As you look at these nominees potential nominees you like their reputations. You talked about the importance of judges who follow the constitution. I think for a lot of people particularly interested in First Amendment their freedom of speech their freedom to exercise religion. I know thats important to you as well, and wondering as you look at these potential candidates, through that lens, do you see First Amendment champions in this group . Well, from what i know, amy koney Bryant Barrett is certainly one of those people. I dont know as much about the other two but ofsome her decisions have reflected that glad you brought up First Amendment because weve seen it challenged this year during the covid crisis when mayor and governors have told people its okay to go to casino youre okay go to walmart youre okay. Go to church youre gong die and were going fine you and put yellow tape on church doors. People recognize i think in a way they havent ever in their lives that some Big Government people would trample all over the First Amendment, in fact, not just would. They have. But we need a court that has people who with wh they read First Amendment recognize that as the text says, government shall make no law and thats something that we hope these folks will take care of in the hearings. All right. We will leave it there. Governor great to get your insight this morning thank you sir. Have a good day. Mike huckabee joinings through. Stay with us. Well be right back. Here . Nah. Here . Nope. Here. When the middle of nowhere. Is somewhere. The allnew chevy trailblazer. Aso the national eye instituteon did 20 years of clinical studies on a formula only found in preservision. If it were my vision, id ask my doctor about preservision. Its the most studied eye vitamin brand. If it were my vision, id look into preservision. Only preservision areds2 contains the exact nutrient formula recommended by the nei to help reduce the risk of moderate to advanced amd progression. I have amd. It is my vision so my plan includes preservision. Maria welcome back worries persist over Tiktok Partnership with oracle and walt mart. The president did giver it etc. Blessing but bytedance currently owns 08 of tiktok after this transaction is complete those numbers go lower. Inside oracle i spoke with source there yesterday bytedance earning 80 after the transaction that will drop to 53 then theyll do an ipo and it will continue going lower. The chinese ownership is expected to drop into the 30s range after an ipo and once again the concern resolves around ccp getting access to american user data. Heres marco rubio with me on sunday morning futures. Right what are your thoughts on the proposal