Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

FBC Mornings With Maria Bartiromo July 12, 2024

We are expecting a tripledigit move on the upside with the dow industrials up 231 and s p 500 higher by 19 points after technologyrun yesterday finishing near record highs. S p up 34. A probe into election bribery. Florida congressman matt gaetz wants to know if Michael Bloombergs pledge to pay fines and donations to florida is actually illegal. We will ask congressman gaetz about next steps. How the deal can get out of limbo. Then out of this world, nasas newest plan to get a man and a woman back to the moon. Mornings with maria is live right now. European markets this morning have a firmer tone. Take a look at european indices. Euro zone manufacturing, purchasing slight gains in the month of september. As you see the ftse 100 is up 143 points. Dax index in germany higher by 23. Asia markets overnight take a look and as you see here after the rally on wall street yesterday, weve got mostly a firmer tone but for the most part fractional moves across the board. Some of the stop stories that we are watching right now. Today a nation prepares to say goodbye to Supreme Court Justice Ruth Bader ginsburg, will make history as first woman to lie in repos as the Supreme Court as President Trump to get support from unlikely republican senator, mitt mitt romney. Joe biden will not say if he supports that idea. Its a legitimate question and let me tell youly not answer that question because it would shift all of the focus. Lets say i answer that question, then the whole debate is going to be, biden said he would or wouldnt. Maria the president pressuring to release his list for Supreme Court anonymous fee. Now im asking sleepily joe biden to give me a list. He doesnt want to do it, you know why, because he can only put super radical left judges on people that would destroy your country and people that would destroy your country. Maria President Trump will take a break from the campaign trail today as joe biden heads to north carolina. Meanwhile tensions between the United States and china escalating after President Trumps criticism of the handling of the covid19 virus saying china and the communist party must be held accountable for unleashing the virus on the world. This is in a prerecorded speech given yesterday to the United Nations assembly. Chinese leader xi jinping said that china had no desire to engage in cold or hot war with the country. The virus has killed more than 200,000 people in the United States. Chevron becoming one of the First Companies to tell employees to delete chinese messaging chat wechat from companies. President trump banning the app for National Security risks. Wechat has over 19 million regular use nester the United States and over a billion users worldwide. Markets this morning are higher, futures indicating a rally at start of trading. Take a look. The market is showing a tripledigit move with the dow up 220 points right now. Dow snapped a 3day losing streak and s p and nasdaq ending a 4day losing streak yesterday as the Federal Reserve pledged to keep supporting the recovery. Joining me david gudlah and also joining the conversation all morning fox business Dagen Mcdowell and former president ial candidate steve forbes. Dagen great to see you. Maria david, lets kick it off with you, how are you feeling about this market 40 days away from the election day when we are waiting to see if we do see a snapback growth story in the second and third im sorry, the third and fourth quarters . David september has been an interesting month especially for growth stock investors. Its been an upward ride since march 23rd, since weve come off the bear market, down 35 with s p 500 in february and march and september is the first time that weve come into, you know, some significant volatility. The nasdaq down as much as 12 at one point and its really about, you know, some renewed coronavirus fears. Things external to the market because economy is recovering and recovering more in the third or in the Third Quarter that many had expected, recovered faster than many expected. Its external factors, renewed coronavirus concerns, we saw about issue and lockdowns in the uk, but more concerns that we will even hear. And then the things to combat that, theres no move on the second stimulus package from congress. We dont expect that before the election probably. The fed is kind of been on pause with their help for about 3 months, and we have the election jitters which is probably the most important factor. This is what we see every president ial cycle, that uncertainty as we get closer and closer to the election. Maria and do you think that the market trades a certain way given the winner . What are you expecting the markets should President Trump get a second term . David i think the markets would probably like to see that we have a continued tax, continued tax structure like we have now. A lot of the probusiness policies that we have now. I think thats part of the concern but mostly markets hate uncertainty and one of the things that we are looking at now, i think, that has even more concern for the markets is, you know, we no longer have an Election Night. We had this issue of so many absentee ballots or mailin ballots that will come in. We have the potential scenario where it may look like one candidate is the potential winner on Election Night but as more of the mailin ballots come in over the coming days maria right. David thats continued indigestition of the stock market. We have of increased anxiety and even maybe, you know, public unrest. So its real concerns for the market as we get closer, maybe even into the month of november when usually thats when the markets resume a rally after the election into november, december and year end. Maria yeah, steve forbes. Steve david, are you surprised really on how well the markets have held up given the fact that if democrats run the table, so to speak, get the senate, the house and the white house, what they will do on regulation, Capital Gains tax, thats a market killer, im surprised the market hasnt expressed david i think what you might see is some incredible profittaking over the ensuing months because of that if we do see that Capital Gains tax change to a marginal tax bracket on earners over a million, but, yeah, theres a significant theyll be a significant change in how investors are approaching the market based on the biden tax plan and theyll be significant changes in how Investment Advisers like myself are managing portfolio. Its important for Retail Investors and for professionals like to be watching how this shapes up both in the how Congress Shapes up in executive branch. It has this election will have a Significant Impact on how people manage their money for sure. Maria how do you want to allocate capital right now, david . David right now its interesting. The lockdown plays are continuing to work well. By that i mean ecommerce, cloud stocks, it, both the technologies that are continues to do well, the technologies that are enablers for cloud. You know, enabling Companies Like zoom, enabling Companies Like amazon, ecommerce companies. Those companies themselves obviously, but also we have some areas of the economy that are doing really well like the Home Builders and continue to do well that we like, the cyclicals that we like as well. Maria okay, david, great to have you this morning. Thank you so much. David thank you. Maria david kudlaw from mainstay. Nike reported after the bell, beat profit expectations and scored big with online sales. Online sales of 82 at nike. The stock right now up 13 and a third percent. We are Getting Started this morning, florida congressman matt gaetz with big money in states. Arkansas senator tom cotton will be joining me talking about the Supreme Court battle and President Trump versus china at the un General Assembly. California congressman is here talking about the new house spending bill and then the author of blackout, Candice Owens and why there should be a black exodus from the Democratic Party. Then former nfl star walker here on black lives Matter Movement and the support in the black community for President Trump. Walker is talking about where the funding for black lives matter is coming from. Youll want to hear this. Dont miss a moment of it, youre watching mornings with maria live on fox business. Stay restless with the icon that does the same. The rx, crafted by lexus. Lease the 2020 rx 350 for 409 a month for 36 months. Experience amazing at your lexus dealer. A livcustomizeper iquickbooks for me. Experience amazing okay, youre all set up. Thanks that was my business gi, this ones casual. Get set up right with a live bookkeeper with intuit quickbooks. How did you come up withd opened all these backstories . Tudio. I got help from a pro. My financial professional explained to me all the ways nationwide can help protect Financial Futures in peytonville. Nationwide can help the greens get Lifetime Income because their son kyle is moving back home and could help set up a Financial Plan for mrs. Garcia. And he explained how nationwide can help mr. Paisley retire early and spend more time with his pal, peyton. And their new band. Exactly yeah. Dont forget the band. I havent. Maria welcome back, well, generation z weighing in on swing states. Joe biden holds leads in arizona and north carolina. The appeal coming from younger voters. A recent New York Times Sienna College poll, 53 to 18 to 29yearolds support the former Vice President and new jersey is in a virtual tie overall, biden is seeing 62 support among young voters. Joining me right flow turning point usa spokesperson conservative gen z commentators isabel brown and attorney likay vincent. Thank you very much for being here. What is the backdrop in the gen z generation, biden is pushing back on socialism and we know that some of his policies look socialist. Lakay, whats your take . So, maria, the last time that a democratic candidate won the electoral vote in the state of arizona was in 1996 during the bill clinton era. 2016 during president ial election only 55 of eligible voters voted in the state of arizona and only 25 of those were the younger generation, however, in 2018 during the Midterm Election gen z and the younger generationsout voted baby boomers and the older generation. The fact that Vice President joe biden is leading in the swing state of arizona is indicative of the fact that younger generations understand the economic and social ramifications if they sit out this years election and they are poised to sway the election and poised to get involved and the fact that biden is not necessarily a socialist candidate i dont think is going to affect them to the extent that they arent going to be involved in this years election. Maria do you think that this generation understands the policies that may come out of a biden presidency . I mean, the former Vice President aimed this week to draw a line between himself and the socialist party and the progressive wing of the Democratic Party. Here is what he said, lets take a listen. I beat the socialist, thats how i got elected, thats how i got the nomination, do i look like a socialist, look at my career, my whole career. I am not a socialist. Maria so does that discourage young voters or do you think that people understand 4 trillion in tax increases and trillion dollar plus plans actually does indicate that he wants bigger federal government, much of what the socialist Community Wants . Well, you hit the nail right on the head, maria, former Vice President joe biden may claimed to have beat a socialist in the primaries by beating senator Bernie Sanders but in reality he teamed up with another socialist in Kamala Harris. When we look at an analysis of Senate Voting records, harris votes further to the left than Bernie Sanders and an idea of socialism within the Bidenharris Campaign. A Harris Administration as so so fondly refers to mandatory firearm, cleat overhaul of medical system and more socialist ideology as well. Its a wolf in sheeps clothing and i believe that socialism would become a reality for america should they win the election this fall. Maria so do you think that younger generations lakai want that . I think parts of generation that have interest in that. Certainly there was movement behind Bernie Sanders, socialism, but i dont think thats the Biggest Issue facing young voters. They are more poised and more focused on getting President Trump out of the white house than they are focused on the fact that biden may or may not be a socialist. Maria but what does that mean once you go get trump out of the white house . Do you think the generation understands that 4 trillion in tax increases is going to slow down the economy and likely mean fewer jobs for your generation, higher government programs, 2 trillion for the green deal may very well not do anything for the climate at all and yet it is going to mean higher taxes, bigger government deals, medical the healthcare plan, also going to be a Big Government program you the government is making decisions for your health care. Do you consider yourself a socialist . I do not consider myself a socialist but im certainly a democrat and i think that generation z is the most generation yet and i believe that they understand the social and economic ramifications. They understand what a bidenharris ticket looks like. I dont want to disqualify generation z as simplify the fact that they dont understand what is going to happen on the bidenharris ticket. I think they certainly understand, but i think they also more concerned with getting President Trump out of the white house and making sure that hispolis dont take effect in 2021 than they are worried about the socialist agenda. Maria isabel, do you agree with that, that this young generation wants trump out . Well, i certainly agree that we are educated and we see the reality of what a Bidenharris Campaign would look like should they enter the white house. I dont agree that we are going through the fullblown train of socialism. Lakaii know by age youre a millennial, but as gen z voter interacting with peers on a daytoday, i see momentum for Less Government controlling our lives and ability to live our lives freely and how to turn dreams into a reality. I think youll be record Youth Support for President Trump in the upcoming election. Maria all right, thank you, ladies, isabella, kaia, see you soon still your best friend. And now your copilot. Still a father. But now a friend. Still an electric car. Just more electrifying. Still a night out. But everything fits in. Still hard work. Just a little easier. Still a legend. Just more legendary. Chevrolet. Making lifes journey, just better. Im a delivery Operations Manager in san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. If i could, baby id my how can i, when youcts wont take it from me you can go your own way go your own way your wireless. Your rules. Only with Xfinity Mobile. Maria welcome back cities under seen, new poll from usa today finds that cities are overwhelmed by ongoing rioting and protests, but this view is separated by party line. 83 of republicans say that the violence is a problem for cities. Only 48 of democrats say the riots are overwhelming American Urban Centers as louisville prepares for potential riots with new escape of emergency declaration. The city awaiting decision on whether or not to charge police in the case of breonna taylor. Dagen mcdowell, how would th

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