Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

FBC Mornings With Maria Bartiromo July 12, 2024

Points, bucking an otherwise weak trend. The dow and s p 500 finishing near session lows yesterday. We are counting down to novembe. We are six days away from the big vote before americans he hed to the polls. President trump and joe biden in the final stretch of their respective campaigns this morning. The president is headed to arizona today. The bidens in the hot speat as a former business associate of hunter biden speaks out. Hear from congressman guy reschenthaler this morning, tom fiten and ron johnson about the bombshell report and its impact. Earnings season rolling on this morning. Heavy hitters reporting include boeing, general lek particular, mastercard and General Electric and anthem. Well bring you the numbers. Mark zuckerberg and jack dorsey are set to testify on liability over their sites content. Roger wicker is here, he will lead the hearing today. The cost is out, my new book with James Freeman, we will take an exclusive peak into a chapter on taxes and regulation. Were looking at economic poll policy. Mornings with maria is live right now. European markets this morning are also under some selling pressure. The f. 100 down 80 points, the cac in paris down 119. Stocks hitting lows not seen since may is france reportedly mulling a National Lockdown, its becoming the epicenter in europe. In asia overnight, we see declines in hong kong and japan but did see gains in korea and shanghai. Now some of the top stories were watching this morning. Six days to go until election day, President Trump taking his Campaign Across the nation in the final week, making two grounds in arizona today. Meanwhile, joe biden will give a speech on his plans to combat the coronavirus from his home in delaware. A biden bombshell meanwhile, the former business associate of hunter biden, Tony Bobulinski, sitting down with fox news Tucker Carlson last night for an hour over allegations of the corruption within the biden family. Watch. Former Vice President has said he had no knowledge whatsoever of his sons business dealings and was not involved in them. Thats a blatant lie. When he states that, that is a blatant lie. Maria bobulinski says he met facetoface with joe biden about china and the deal there, almost walked out of last weeks debate when joe biden was asked about his sons laptop. Well be talking about this this morning. Weve got more clips from his interview coming up later in the program this morning. Coronavirus cases meanwhile still surging across the country, nearly half a Million People in the United States testing positive for the virus in the past seven days. Hospitalizations also shooting up, 13 . This as france emerge as the new epicenter in europe, second wave. President Emmanuel Macron considering new restrictions as the nation reports its highest death toll since april. A second night of unrest in philadelphia after Police Killed a black man armed with a knife, looters seen ransacking businesses in philly, carrying away tvs, yo appliances, even christmas trees, this coming hours after Walter Wallace juniors family pleaded with the public to end this violence. I will condone no violence, looting the stores, all this chaos. I would like everybody to have respect for my family and my son, to stop this violence and chaos thats going on in the city. Maria police say they ordered wallace junior who had a criminal history to drop the knife but he kept ad advancing t officers who fired at him seven times. Mark zuckerberg, jack dorsey and sun car bsun carsundar pichai. They are expected to say law is vital for Free Expression on the internet. Lawmakers have called into question the decisions. In the 8 00 a. M. Hour, roger wicker is here. Markets are down, dow futures falling once again this morning as investors are watching the rise in the global coronavirus cases, stimulus uncertainty with a deal unlikely until after the election and of course the potential for further lockdowns on the economy. Dow industrials down 423 points, nasdaq is down 112, and the s p lower by 42 points. It is another big earnings day, dow component boeing is out with its earnings this morning. Weve got visa and amgen reporting after the bell tonight. Nearly 40 of s p 500 companies have reported earnings. More than 80 have beaten expectations. Joining me now is chief investment officer, david bonson. Also joining the conversation this morning, Dagen Mcdowell, also, the coyo coauthor of myw book, James Freeman. Thanks for being here. David, let me kick it off with you. Your thoughts on what were seeing here take place as investors react to the potential for more economic lockdowns and a spike in coronavirus cases. Yeah. I would really focus on the first part of that sentence. I think investors have to respond to what they anticipate really bad policy decisions could end up being for mayors and governors. But i dont believe for a second it has anything to do with an increase in cases. We saw all the increase in cases throughout the summer. We were told in two weeks we were going to see armageddon again, over and over, florida, arizona, texas. It didnt happen and the market went up 3500 points throughout that whole period of time. Right now, maria, we have the week before the election. Anyone could have been predictinpredicting there wouldn elevation in volatility around the uncertainty of the election and then you see things like chicago closing down indoor restaurants with no cases being traced back to indoor dining. Investors have to worry about policy i idi ofocy. Thats what were responding to. Hospitalization rates are declining, fatality rates have totally collapsed. Theres a lot of good news on covid many were just not going to hear about it from a lot of the press. Maria wow. So you just do not like whats happening in terms of the reaction to these cases. James freeman, we wrote about this in the book, the tab for covid19 still being calculated. Jump in here. Yeah, i really hope that after the spring lockdowns and all of the Collateral Damage we saw, all of the economic damage, all of the isolation and Mental Health problems and noncovid illnesses that get ignored a lockdown, its really discouraging to see politicians, david, putting this back on the table. But like you, im hopeful that as we see much lower death rates, despite all the noise, much lower numbers of people dying than we saw in the spring, im hoping that will encourage politicians not to go that route. But i guess one big question is the vaccine and i dont know how that plays into your thinking as an investor. Do you expect it soon . Do you think the wise course is to say maybe it never comes . Whats your thinking on a vaccine possibility . Well, i actually am using the word plural, because i think were going to have more than one vaccine and i think that after the elections done, some of the people that have taken their platform over the last couple of months to talk down the idea of a vaccine and stir up doubt in our society about the integrity of our medical process, which is the most sophisticated and successful in the world, all of a sudden i think those people are going to decide that they do believe in the efficacy of a vaccine. The market doesnt wonder if ones coming. The market knows one is coming. Now, the details we dont know, exactly when, what the distribution will be, who the winning players will be. I suspect youre going to have two or three companies with successful approved vaccines competing for business. So, no, it does play into our thinking, absolutely. Maria yeah. And i think what i hear you saying is after the election, were going to see a much different tone in terms of these lockdowns. Let me get your take an big tech this morning. The ceos of facebook, twitter, google set to testify before the Senate Commerce committee today, they will face questions over section 230 of the Communications Decency act, essentially shields them from lawsuit over content posted to their platforms because theyre posted by users. What are you expecting here . Is this a reason to sell these stocks . As you know, maria, because were big Dividend Growth investors in be bonson group, a lot of the fang names and big tech names are not investable for us anyways. I have to say, its a valuation story. If they were trading at 30, 40 times earnings going into this next level of regulation and inquisition, that would be one thing. But when you come into this with such a pre versely elevated valuation, theres no margin of error. So i think these things are on a risk reward basis. Very troublesome. We dont own them. I wouldnt want to own them right now. I also believe the whole conversation that plays out on big tech and its role in our society is nowhere near over. This is going to be ongoing. This is not going to be a one an done senate hearing. Im very confident of that. Maria both sides of the aisle really want to attack these companies because of the suppression of information. I mean, we just saw them suppressing information about hunter biden. Whats your take on the election and how this impacts money . The impact of a President Trump victory, for example, jp morgan is saying that an orderly win for the president could propel the s p 500 by 13 . But if the democrats sweep, the market would be mostly neutral. This is jp morgans new report this morning. Your reaction . Yeah, i always love those estimates, where 13 comes from and an orderly win. Maria funny. I agree, the market is not discounted the idea of an orderly win for trump. I dont think thats the most likely scenario. If President Trump is to win, i do think it will be a nailbiter and probably take a couple of weeks for votes and so forth to come in. The Biggest Issue to me, though, with markets will be the senate. Because if we have some inclination next tuesday that joe bidens going to win, but it looks like the republicans can hold the senate, then i think thats going to be far more impactful to markets, to be able to hold the senate so that some of the crazier parts of bidens agenda cannot be implemented. Maria all right. We will leave it there. David, good to see you this morning. Thanks very much. Well be watching growth difficult pendividend payers. Weve got a lot coming up, join us, Energy Secretary dianne brewette is here, hell talk about energy and how many jobs could be lost in fracking is banned. Well talk about the assessment of the industry. And next hour, pennsylvania congressman guy reschenthaler will weigh in on the 2020 race. Plus Senior Campaign advisor jason miller with the president s schedule, talking about the rally schedule with six days to go. All eyes on big tech this morning, jack dorsey, Mark Zuckerberg facing tough questions on policing content on their sites. Roger wicker gives us a look ahead into the virtual testimony. This is his committee. Well get a preview. Wisconsin senator ron johnson talks the latest on the hunter biden bombshell and what his report told us as republicans look for a special counsel to investigate. Dont miss a moment of it. Youre watching mornings with maria live on fox business. Well be right back. Its time for sleep numbers veterans day sale on the sleep number 360 smart bed. You can adjust your comfort on both sides, your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Will it help me keep up with mom . You got this. So, you can really promise better sleep . Not promise. Prove. And now, during our veterans day sale, save 1,000 on the sleep number 360 special Edition Smart bed, now 1,799. Only for a limited time. To learn more, go to sleepnumber. Com adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Ancestry, with documents, with photographs, i get to define myself through the scores of people who lead to me. Bring your Family History to life like never before. Get started for free at ancestry. Com its made for him a veteran who honorably served and its made for her shes serving now we also made usaa for military spouses and their kids become a member. Get an insurance quote today. Maria welcome back. The race for the white house, the 2020 president ial election now just six short days away. This election will be like no other weve seen with early voting expected to hit record numbers and the specter of the pandemic hovering around this election. Joining us now is frank luntz. Hes been having interesting polling results about what voters are thinking. What are you seeing . First thing, i need to give you one statistic, maria. Which is that every time the Los Angeles Dodgers have won the world series in the last 35 years, every single time theyve won, the republicans have won the white house. Now, i dont know if thats a correlation. Maria oh, wow. Of i dont know i if you i dont know if you have conviction. I was there last night and at least there was one celebration. Maria thats good. It was quite an evening. Maria yeah. President trumps got that going for him. The la dodgers. Youve been speaking to a lot of voters, frank. What are the Biggest Issues of the election, you think . How are people voting . Frank, these polls have been consistent throughout and yet theres turnout that you see on the trump team that continues to surprise on the upside. So what do you think . Well, i look at the numbers now and the one that most interests me is expectations for whats going to happen next tuesday and youve got the polling numbers there. That even though biden is leading, most public polls, around 7, 8, 9 , only twothirds of joe bidens voters actually think that hes going to win. Conversely, 81 , four out of five trump voters think that their candidate is going to win. So on Election Night the assumption on both sides is that theyre going to be successful. So how the votes are counted, how quickly theyre counted, is going to have a tremendous impact on those first hours, right after the polls close and will have an impact on what the expectations will be as the night goes on, as the days go on and i emphasize days and what they expect to happen in the final count. Maria so what about that . What are the states that youre looking at . Is it simply looking at the swing states like pennsylvania or North Carolina that are critical in this election for President Trump . How do you think he can win . Well, the first thing for trump is that he must win florida and ohio and North Carolina. Those states are too close to call right now and every one of those states is required for republican to win nationwide. And on the democratic side, theyre looking at the three states in the industrial midwest, pennsylvania, michigan, and wisconsin. For them to be successful, they have to win those three states. Then the states that people are looking at, that might possibly go from democrat to republican, nevada and minnesota, those are the states that republicans are eyeing very carefully because they got a shot in those two states. So in reality, this is not a nationwide election. This is a state by state election. And in reality, the actual turnout right now, and i think youve got those numbers with you, joe biden is his voters are voting early. By two to one, trumps voters are going to vote on election day. Thats whats critical. How those people participate, if trump people come out trumps voters come out of the bomb pol, they still have a shot. Maria its interesting because your polling found interesting facts about voter confidence in how their votes in the Election Results will actually be couldnted. Exactly counted. Exactly. The key there is that for the First Time Ever in american history, one out of three voters are afraid that the votes wont be counted correctly. One in four are afraid their own vote wont be counted correctly. Weve then had that concern in the electoral system. Its something we should be paying attention to. Maria with all of these stories of ballots in the garbage and missing ballots, its raised a lot of concern. Frank, its great to see you. Love your insights. Thanks so much. Just remember that every time the dodgers win, the republicans win. Maria okay. You got it. La dodgers. Thank you so much. Frank luntz. Well be right back. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. Our Retirement Plan with voya gives us confidence. Yeah, they help us with achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Itson the new sleep numbernumber 360 smart bed. What if i sleep hot . Or cold . No problem, with temperature balancing, you can sleep better together. Can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable will it help me keep up with mom . You got this

© 2025 Vimarsana