Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

FBC Mornings With Maria Bartiromo July 12, 2024

Morning to talk the very latest on the newest findings. Markets this morning are rallying. Take a look at futures indicating a gain in triple digits as we are awaiting earnings from travelers, lack heed martin and proctor and gamble. Rough start to the week yesterday. Technology dragged down the markets and really turn in sentiment over stimulus, dow industrials down 410 points at the end of the day, nasdaq 192 and s p down 56 points yesterday on wall street. Stimulus at the forefront. Speaker pelosi and Steven Mnuchin with talks and thats what turned the markets yesterday, uncertainty over no deal. Big energy in 2020, why one experts thinks we will see gasoline at 6 a gallon should joe biden win the presidency and President Trumps latest endorsement. Why rapper 50 cent thinks the president will keep him close to his money. Mornings with maria live right now. Someonan markets this morning look like this on the heels, fractional moves this morning across europe. Overnight asia, best performer was the shanghai composite half percent. The others fractionally moved. Top stories we are watching this morning, new documents appearing to show Hunter Bidens signature approving repair work in laptop and name in bill 2 section. Fbi paperwork containing serial numbers and hard drives taken into possession from the delaware repair shop owner. Joe biden, however, staying off the campaign trail this week to prepare for thursdays president ial debate. And the commission on president ial debates announced a major format change for the final debate. Candidates microphones will be muted. Federal prosecutors on charges on operators accused of cyberattacks, 2016 hacking of dnc and set of ransomware attacks. 5 added to fbis most wanted list. The group known as sand worms, capable and dangerous hacking groups in the world. Markets this morning are higher. Take a look at futures iming higher ahead of a deadline for new stimulus deal from washington. The nasdaq up 73 and s p higher by 21. Still not too close on an agreement here just yet, the major averages closing near the lows. Biggest names in Technology Led the decline amid investor worries over stimulus as well. Nasdaq in the red for the fifth trading day in a row marketing longers losing streak in a year. Joining me Wealth Management chief investment strategist brent and joining the conversation fox business Dagen Mcdowell, Kings College professor, Fox News Contributor Brian Brenberg, great to see, everybody. Brent, is the market hostage to anything that comes out on a stimulus . Absolutely. At least in the near term. If theres no deal today you will have another negative market reaction. More stimulus will reduce uncertainty whether or not we have gas to get on the other side of covid19. Its still likely that you will get stimulus for the next couple of months. We have pulled a lot of americans across the unemployment valley and really important you have vaccine news that should be coming in the next few weeks. That could be positive. While theres near term downside if we get no deal, i dont think that its an economic breaker. Maria senate will vote on standalone protection bill today. How important do you think markets will view that in a backdrop where the economy showing signs of recovery, right . Absolutely, the Economic Data actually if you contemplate atlanta fed gdp estimates we will have 35 , if that would occur, that would leave the economy only 3 smaller than what it was at the beginning of the year which any one of us would have taken. Thats one thing that people miss, an economy does adapt and youre seeing that where people are substituting, spending more on goods, groceries, stay at home versus services. The economy has gas left in it. The stimulus would reduce uncertainty thats out there. Maria so whats your take on thirdquarter earnings so far . Weve had a pretty robust season, two dow components are reporting this morning, proctor amble and travelers, we will be waiting these numbers this morning to see if they impact at all. Your take from corporate for the Third Quarter . Sure, i mentioned Economic Growth, i mentioned the economy adapting, youre seeing that in earnings. We expect they will continue to and i do think broadening out is very important. Back in the date you only had tech stocks that were producing earnings, and now broadening to more sectors of the economy as more parts have come back online and that continues into next year which is the backdrop for a better year and thing that are more economically sense sensitive. Maria yeah, thats a good point. Let me bring Brian Brenberg. Im sitting here thinking what does nancy pelosi have to gain by getting anything done before the election, investors are smart and can see the politics here. Probably nothing before the election, but probably something next year once the election whoopla has died down, brent, why would the market react so strongly from a political nonstarter at least from Nancy Pelosis perspective . I agree with you 100 . Thats where the rubber meets the road. Eventually you will get stimulus, whether its today, december or january, it is coming. The market senses that and can look past longterm discussions. The Federal Reserve are holding them where they are at. Thats why i dont think its more of an economic breaker. I just think its something that will cause near term downside but not so much that one should do anything to the portfolio. Maria all right, we will keep watching that. Seems to be holding the market hostage over the near term. Brent, good to see you, thank you so much. Thank you. Maria check out morning mover, the ceo said he expects results from its covid19 vaccine trial in november and u. S. Government could authorize emergency use of vaccine in december. Stock is up 2 and 1 thirds percent on the news this morning. Coming up threatening americans abroad. Fox news senior strategic analyst jack keane will talk about beijings recent comments and threats that it will detain u. S. Citizens traveling in china. Next hour we are taking a look at market moves top investors are looking. Former white house chief strategist steve bannon is here on hunter biden report and what to expect 2 weeks to go before november decision. Dont miss congressional candidate on the future of the Republican Party and 2020 races plus harold joining us on 2020 race and why he says a Biden Victory would jack up the price of gasoline at the pump to 6 bucks a gallon. Dont miss a moment of it, youre watching mornings with maria live on fox business. Note preservision. If it were my vision, id ask my doctor about preservision. Its the most studied eye vitamin brand. 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You knew that, now you have the laptop and its over and as far as im concerned the biden family is a criminal enterprise. These are bad people, sick people, they never said it was made by china because theyre all on the take. Matt, thank you very much for joining us. The one thing thats striking about this president ial election in general and 2 weeks from now is that nothing seems to matter, so for those who are looking at this thinking that something is going to happen. We had george floyd protests, riots, we had looting, the democratic convention, the republican convention. Theres two ways to look at the story. Politically i dont think its going to matter much at all. The question is does it matter to us as individual voters and citizens what hunter biden was doing in 2015 and how joe biden was responding. I would pause it with the coronavirus and the pandemic and the very many millions out there who are trying to struggle to keep our heads afloat, its going to be hard to make this election in the last 2 weeks about nepotism and corruption. Maria but its another its another example of corruption. We just came off of a fouryear period where we learned it was Hillary Clintons idea to tie donald trump to the russia clubbia narrative that the country was up in arms about and we know that was a lie and the intelligent agencies were weponized. I agree the Mainstream Media wont touch it or wont report it, probably a portion of the people still dont understand what took place and now you have evidence that hunter biden was getting paid for introductions to his father, setting up joint ventures in china. Do you think people will think that would dictate joe bidens Foreign Policy . What did he do in terms of Foreign Policy with china, with ukraine, given that he had deals with governments and he was pocketing money with his son . I mean, compared to Hillary Clinton and the Clinton Foundation stuff from 5 years ago, the Clinton Family set up an entire elaborate scheme for people to kind of trade in on their influence and launder their good names by giving money to organizations that the clintons want while she was secretary of state for big portions of it. That was a big needy, weird smelling thing to wrap your head around. When you compare joe biden to that, when you compare joe bidens personality and track record to Hillary Clinton, its just different, its category difference and i dont think looking at that right now and saying, using the same language like the president did, Clinton Crime Family language became the Biden Crime Family language. Its not the same people and not the same election. The president needs to run the 2020 election and not try out the 2011 2016 playbook. Maria dagen. Dagen goes to the point of why do people give President Trump gate grades on managing the economy but hes still trailing joe biden in the overall polls, the National Polls but even in the swing state polls, although those are more narrow, that you have according to recent gallup surveys, 5 of americans say they are better now than they were 4 years ago, they are in better shape but thats not translating into good numbers for President Trump and its because frankly my opinion his miami is highly undisciplined. Its all over the place. You need to talk about two things, coming occupy of the coronavirus, vaccines, all the things that are ahead to fight this virus and then the economic recovery and he proved based on deregulation and cutting taxes and cutting Corporate Taxes that you can have a tie that lifts all boats in this nation. [laughter] but also, yes, think about it. Hes spending two weeks before the election right now, you know, insults at dr. Anthony fauci. You dont have to like fauci to ask yourself whats the point of that right now, theres a really good story you could have told as president of the coronavirus if this is what you have done and said from the beginning, we need to test everything, we need to move all bureaucrats out of the way so we can test, test, test all over the place. Once we do that, we can know how things are and once we know how things are we can reopen things, hes not telling the story. The white house has been slowing down testing which is a bad move. To the extent that everyone is suffering under this one big thing and also want the nonsense to go away, the insult comedy a little bit. When you want to stop that, whats your action at the voting booth. Its not to vote for donald trump. Hes running like an insurgent and hes the president. Maria be sure to tune in friday, we will be starting an hour earlier at 5 00 a. M. Eastern, breaking down the second president ial debate. Its going to be big, you dont want to miss it, stay with us on friday as we start an hour earlier. Coming up exposing corruption. New documents confirm wrongdoing by hunter biden as the former Vice President s campaign is still not denying it. The political impact next. Why havent we heard anybody address this from the campaign . Then men taking cues from the ladies, new trend hitting male fashion, youre watching mornings with maria live on fox business. Metastatic Breast Cancer is relentless, but im relentless too. Because every day matters. And having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopausal status. And its the only one of its kind you can take every day. Verzenio fulvestrant is approved for women with hr , her2 metastatic Breast Cancer whose disease has progressed after hormonal treatment. 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Fox news with paperwork appears to show documents where he allegedly left laptop. This follows what we have been reporting all week. Laptop contains emails which contains lucrative overseas deals while father was Vice President. We understand he was getting money from Chinese Companies, Ukrainian Companies perhaps even others. We are waiting on more documents to come as giuliani told us yesterday. Brian brenberg, your reaction to all of this. Brian it would be nice if journalists would engage in journalism and help us understand what is going on. Its interesting to me that Biden Campaign only response to this is theres no wrongdoing but what theyre not talking about is whether documents are legitimate and people want to know. People want to know if these are legitimate documents. We will draw our own conditions of whether its wrong. Give us the fact on this one. Its curious and telling that they will not do that but whats worse, the media by in large wants to bury this one and ignore it. Thats malpractice this close to an election. Maria that is malpractice and thats what youre seeing out of social media. They were very clear we are not going to disseminate the information. We were showing emails on the screen. My understanding is that the original agreement with the director was for consulting fees based on introductions alon

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