Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

FBC Mornings With Maria Bartiromo July 12, 2024

This as cia head gina haspel tries to stop for document declassification as part of the origins of the russia probe. Ohio congressman jim jordan joins me live next hour to discuss. Markets this morning slightly in the red, take a look at this, despite President Trumps recovery and growing talks on stimulus, weve got a market that is fractionally moving but in the red, dow industrials right now down 31 points of, nasdaq lower by 56 and the s p 500 right now down 9 andahalf. This after big rally yesterday finishing near session highs, markets at the close yesterday up 465 points on the dow industrials. The nasdaq up 257 and the s p 500 higher by 60 points at 4 00 on wall street. Worker information compromised, a popular fashion brand is fined for allegedly keeping track of hundreds of employees personal lives on the companys database. Airlines meanwhile looking for a rescue, one carrier hoping workers will take pay cuts in order to avoid furloughs. Plus, plant based fashion, the new team up that will turn heads and keep animals safe. Next hour, actress and activist Pamela Anderson is here to talk about her businesses and a lot more. Mornings with maria is live right now. European markets are struggling this morning. Weve got the fq100 down 25, cac is pop positive in paris by a fraction. Slight gains in asia overnight, China Remains closed for a holiday. The others up fractionally as you can see. Some of the top stories were watching this morning. Right now, President Trump speaking directly to the American People, hours after being released from Walter Reed Medical Center as he recovers from covid19. I learned so much let it dom. Dont be afraid of it. Youre going to beat it. Were going back to work, were going to be out front. As a leader, i had to do that. I knew theres danger to it but i had to do it. Nobodys that a leader would not do what i did. Maria the president s supporters lining the streets in bethesda, maryland, cheering him on as he left the building. His medical team says hes not out of the woods yet but ensured it was safe for him to return home where he will be monitored by doctors around the clock. First Lady Melania Trump is recovering at the white house, tweeting yesterday she is feeling good and continuing to rest. Five white house staffers have tested positive for covid19 including press secretary Kayleigh Mcenany who told fox news she is feeling great and only has mild symptoms. Meanwhile, President Trump is still planning to take part in the second president ial debate in miami later this month. Thats according to trump 2020 Communications Director tim murtau. The debate will take place less than two weeks after the president first tested positive for the coronavirus. Joe biden said he will attend the next debate if Scientists Say its safe. The center for Disease Control is updating transmission guidelines for covid19, acknowledging its possible tore the virus to linger in the air for hours and it can travel farther than six feet in some cases. This matches an advisory that was posted weeks ago. The cdc is recommending everyone wear a mask, maintain social distancing and wash their hands to prevent transmission. And the wall street journal is reporting the irs is investigating nras ceo for possible criminal tax fraud. The investigation coming after the new York Attorney general Letitia James sued him, accusing him of taking millions of dollars worth of lavish trips and other of benefits for he and his family. His salary was 2. 2 million in 2018. Is it political . Were asking. Investors are eyeing President Trumps recovery and growing talks on stimulus this morning. Futures are flat to down. The dow industrials are lower by 48 points, nasdaq down 60 of, s p 500 down 11 andahalf. This on top of gains on wall street yesterday. All three major indices ending the day in positive territory at session highs, up 465 on the dow, 257 on the nasdaq. Joining me right now is Wealth Advisor president and founder, mark avalon. Also joining the conversation is Dagen Mcdowell and the chairman of the program of business and finance, the Kings College in manhattan, Brian Brenberg. Thank you for being here. Mark, tell me what you think is driving markets these days. Weve got a fractional loss this morning but what do you think will be the ultimate driver as we go into yearend . Well, the driver of the markets going to continue to be what it has been. Its an accomodative fed at the base. Its hope for more federal stimulus. On top of that its this amazing u. S. Economy thats been adapting and doing relatively well, despite severe pockets of pain. So i think investors are looking at the latter and saying we might see better earnings this quarter. 11 Million People have returned to work since march. Thats historical. But whats also historical is theres still more than that unemployed. So its a bifurcated situation but underlying strength and optimism is running wall street right now and investors are looking at the brighter side of these pending earnings reports. Maria yeah. I mean, i think you make a great point on the fed. Weve got zero interest rates, not a lot of alternatives aside from stocks. So, sure, the bull market is intact. But what is the fundamental back drop telling you, mark . Are you expecting earnings to look good tore the Third Quarter . For the Third Quarter. Theyre going to be out flowing in earnest in the sneak next weo well get a real picture of how the Third Quarter performed. What do you sunshine its going to be industry by industry and were going to see real strength in transports, companies that can shop from home like nike have already indicated. Theyre going to be strong. Communications services, technology, warehouse, anything that is involved in this new economy is going to reflect that. My deep concerns continue to be with commercial banks and with travel, leisure and entertainment. And even if some of those earnings are strong, i want to look under the hood and make sure theyre not just cutting costs, theyre not just laying people off, and making their number that way. Without topline growth, the longterm sustainability in Certain Industries that are negatively impacted by covid really have to be scrutinized. So i would caution investors to not just pick in a wide manner but play the sectors and the industries that are poised to benefit in 2022, whether or not we have a quick vaccine. Maria yeah. I mean, i think that its going to be more important than ever, this quarter, to listen to the guidance of the s p 500 when they report their earnings, to give us a sense of what theyre expecting for the Fourth Quarter and 2021. Right. And as of now, less than 20 of companies have given Third Quarter guidance. This covid has changed everything. Were getting less guidance. Were getting less forwardlooking statements. Thats whats creating some ambiguity for investors. The last few days , the runup is more hopeful when jp morgan announces, theyre going to begin a parade of positive news. I think investors are being on the optimistic side. Be careful where youre investing. You want to avoid in my opinion the sectors that are most impacted by this virus. Maria yeah. Let me ask you about big tech. The house antitrust report is suggesting a breakup of big tech firms, according to reuters. This is probably one issue that both sides of the aisle agree on, that big tech has become too pow of wearful and needs to be powerful and needs to be broken up. Would you buy big tech, knowing that we could see this materialize and theres also the issue of the valuation after a huge runup for tech. The valuation concern has been there. Thats where the money is flowing and to not have been involved in this momentum trade has left Money Managers underperforming. So i think the pressure will be for Money Managers to continue to invest there, with the hopes that theres a wider spread into the Value Industrial side of the equation. As far as whats happening on capitol hill, i think its going to take years for that to materialize. And theres going to be an incredibly strong lobbying effort to slow it down, to water it down. Congress really doesnt even understand how these Industries Work half the time, so i dont expect quick, swift and penal action, especially because of how entrenched many of these companies are even in democrat voting districts and states like california. So if its going to be deemed to be painful, if its deemed to hurt the voters, the workers, the employment situation, the recovery, i look for the political heat to be more rhetoric than action. Maria all right. Mark, great to see you. Well be watching. Thank you so much, mark often an joining us there. Were looking at a bion tech. The eu launched a rolling review of the covid19 vaccine being developed together with pfizer. It is in late stage trials. Shares are up 10 andahalf percent. Well be watching that one. Were Getting Started this morning. Coming up, finances in focus, gordon norquest is here. Well have the top market moves investors are watching with the word on wall street. Plus ohio congressman jim jordan is here, hell join me to talk about the president s health and the delayed testimony of Andrew Mccabe. Will we ever hear from mccabe at this point . And former white house chief strategist, steve bannon will be here. Plus, model, actress and event entrepreneur, Pamela Anderson will be here. In the 8 00 a. M. Hour, barry sternlict, on how hes allocating capital today. And the ceo of regeneron is here, on the coronavirus treatment that has President Trump feeling better. Dont miss a moment of it. Youre watching mornings with maria, live on fox business. When you just cant break away. Oh, young hearts, run free. Never be hung up ok, just keep coloring there. And sweetie can you just be. Gentle with the pens. Okey. Okey. I know. Gentle. Gentle new projects means new project managers. You need to hire. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database so you can start hiring right away. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Maria welcome back. Potus back at home, the president returning to the white house yesterday evening following his three night stay at Walter Reed Hospital after testing positive for covid19. President trump released a video message after returning home. Dont let it dominate. Dont let it take over your lives. Dont let that happen. Yeawere the greatest country in the world. Were going back. Were going back to work. Were going to be out front. As your leader i had to do that. I know theres danger to it but i had to do it. I stood out front. I led. Nobody thats a leader would not do what i did. And i know theres a risk. Theres a danger. But thats okay. And now im better and maybe im immune, i dont know. But dont let it dominate your lives. Get out there. Be careful. We have the best medicines in the world. Maria joining me right now is retired four star general, fox news senior strategic analyst, general jack keane. Its good to see you this morning. Thanks very much for joining us. President trump surprising everybody, coming out of the hospital. What do you think this sends the message this sends to the world stage, having the president back at the white house . I think everybody is gratified that our president is back on duty, sotospeak. I dont think he ever gave that up. He certainly was working very vigorously while at walter reed. This is a bigger message here, this is a president in his 70s who fought this disease, obviously he has a strong immune system. He was not enveloped by the disease which has happened to other people in his age group. Hes obviously generally very healthy to begin with and i think the vigorous activity and the life that the president has always led and leads now as our president is a contributor to his being able to cope with the disease. And i agree with him. You know, hes the leader of our country and in this case the most prosperous country, the greatest and largest democracy in the world. And you cant do that job closeted. Youve got to be able to deal with people on a regular basis and have meetings. You cant do everything virtually. And thats why six or seven of his fellow leaders in the world also have contacted coronavirus because theyre leaders and if youre going to lead, you have to be out there. And so i think its great to see him back. I do think it sends a message to the world, writ large, that while this disease is devastating in terms of the amount of people it infects, certainly, that you can withstand the rigors of this disease if youre generally speaking in decent health, even when youre in your 70 ofs. Maria yeah. Its interesting because the whole world was watching President Trump go to the hospital, be in the hospital. And you know, given the fact that were in this fight with china, you know that the chinese leadership was also watching what took place here so it definitely sends a strong message of to the president s critics as well. Oh, yeah. Theres no doubt about that. While president xi offered President Trump his support and you know, for a speedy recovery, as well as the first lady. He permitted his staterun media to blast the president for one, for contacting the disease because of his personal behavior, and two, for mishandling the disease in the United States. So this relationship has soured. Theres no doubt about that. Maria yeah. Well, that was rich. You know, that was rich, reading the global times as they said that the president downplayed the disease. Meanwhile, it was china that downplayed the disease for critical weeks. Before you go, general, ive got to ask about russia. Officials in the Trump Administration have announced progress toward outlining a nuclear deal with russia thats according to the journal this morning. The talks are an effort to extend the new start treaty which aims to he reduce the number of strategic arms between the two countries but the talks come as putin is increasing military activity in belarus. Whats at stake here . Firs first of all, this is gd news. We dont have a treaty yet. It looks like were coming to a Framework Agreement which means that the treaty, which expires in february, will be extended and theres some basic agreements that were going to freeze the numbers of weapons we currently have. Russia and the United States. A couple of things permitted that breakthrough. One is the United States was insisting that chinas got to be in this deal and thats the right thing. But the russians dont want any part of it so were going to conduct the deal with the russians as we have in the past. This is progress. Putin is in belarus. Hes got troops on the ground under the guise of an exercise. He wants that country in his or orbit. I think hes going to get it. Because of covid and other issues going on in the world today, the world is not responding as strongly as they should be to this. They certainly did in the case of crimea. Were seeing a repeat performance here. It portends what putin is about is weakening the transatlantic alliance, nato. If troops get based there that will intimidate nato allies, which are on the border, particularly poland and the ball Baltic States p states. Maria thats what china did. Theyre very similar, these dictators. General, good so see you this morning. Thank you, sir. Good talking to you, maria. Maria general jack keane there. Stay with us. Well be right back. See yourself. Welcome back to the mirror. And know youre not alone. Because this is not just a mirror, its an unstoppable community. Come on jesse, one more its every workout. Come on you two, lets go for everyone. So join in now. And see your best self. In the mirror. Id call my grandfather as a result of the research that ive started to do on ancestry. Having ancestry to fill in the gaps with documents, with photographs, connecting in real time means that were having conversations that are richer. I have now a closer relationship with my grandfather. I cant think of a better gift to give to my daughter and the generations that come after her. Bring your Family History to life like never before. Get started for free at ancestry. Com bring your

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