Transcripts For FBC Mornings With Maria Bartiromo 20240711 :

This as the United States is seen a rise in the number of covid cases. Joining in the 8 a. M. Hour this morning all be speaking with health an human secretaries alex azar and markets this morning look like a mixed story attack a look after treasury secretary Steven Mnuchin said he would not extend most of the emergency legending programs that run in tandem with Federal Reserve dow industrials down 55 and nasdaq up 14 but the s p 500 lower by 4 points. Markets yesterday shrugging off lockdown to finish in the green when all said and done dow industrials up 45 points and nasdaq up 103 and the s p higher by 14 at 4 00 on wall street yesterday. To the president for trade and Manufacturing Policy peter joining me to talk all they thinks economy and china coming up. And then do nothing for nothing. How you can score a get away to hawaii for free. The morning buzz coming up mornings with maria is live right now. All right here we go european markets take look inching higher european indices higher across the board by fractions up 45 poins and cac up 48 and dax higher by 2. In asia overnight a mixed story as youll see here numbers not as dramatic as typically but fractional moves pretty much across the board. Nikkei average one weak spot top stories were waving this morning gop leaders in michigan are set to meet with President Trump today as his legal team sounds off on what they are classifying as a coordinated effort of mass Election Fraud. Emerge very quickly is not a singular voter fraud in one state. Thats tied and repeats itself in a number of states. Almost exactly the same pattern which to any experience to investigators, prosecutor, would suggest there was a plan from a centralized place to execute these various acts of vote or fraud. This as canvassers in wayne county michigan speak exclusively to resend votes. Hes used a social media platform to repeatedly post my phone number, my home address, my e male address and encourage people to stop by my house and share their anger with me. Whnch were at the meeting we get whats called over under report and we didnt get that report this year. For this time instead we were given oralely and we have to record everything by hand. Maria meanwhile joe biden projected to win georgia recount but margin of victory would allow president to request another recount Rudy Giuliani saying that signatures must match if few minnesotas hear from President Trump attorney jenna ellis this morning an next hour former joining us and joe biden announce he made one of the first choices for his cabinet hes keeping things secret for now. Look, try to take one at a time youll soon hear my choice for treasury. I made that decision weve made that decision. And youll hear that either just before or after thanksgiving and youll find it is someone i think will be accepted by all elements of the Democratic Party. Progressive to the moderate coalitions. Maria as you heard first on this program, it is likely to be former Federal Reserve vicechairman Roger Ferguson and top options vicechairman Roger Ferguson and chairwoman janet yellen wall street as you know ive reported it this, is betting on Roger Ferguson confirm cases of covid19 meanwhile reaching more than 170,000 on thursday. The second highest daily figure yet as cases surge across the country cdc is sounding alarm on thanksgiving travel. Warning americans not to travel this year an stay home instead. Dr. Anthony fauci reassuring public, though, that vaccine in works are shape and not rushed for political reasons. Meanwhile pfizer tech expected to seek government approval for the Coronavirus Vaccine as early as today. It is shown to be 95 efficacy rate during its final clinical trites. Health and Human Services is here joining me live in the 8 a. M. Hour to discuss all of that. Markets this morning meanwhile a mix take a look. The dow industrials expected to open lower after treasury secretary Steven Mnuchin said that he would not extend most of the emergency lending programmings that run in tandem with Federal Reserve. Treasury department would move most of the lending facilities as well as two highly scrutinize programs main street legending program and liquidity facilities. Joining me right now is senior strategist wolf gang kesser also joining fox business Dagen Mcdowelling and wall street journal assistant Editorial Page Editor James Freeman great to see everybody this morning thank you so much for being here. Wolf gang kick it off with you your reaction to what we heard from Steven Mnuchin yesterday and these programs that would give the Federal Reserve stimulus leverage to add even more stimulus hes not going to extend those yondz the end of this year. Yes. Good morning maria and everybody dagen. You know, when we look at a we look at what does it mean for liquidity for corporations because at the engsd of the day investors look at what do we do with this and cutting that liquidity off is likely going to be an event that is going to be negative for the market. But what we also watch within that liquidity is what is going on with the dollar here, and what we are anticipating is that that could possibly weaken the dollar but the more importantly, it is beginning to create volatility so once again were getting news we dont know thats gong to happen. If they actually going to shut this down to this point less lick wedty four people cant be great for the economy. So if the dollar weak finance does that change your investing allocation do you want to invest with a weaker dollar . So what we look for is less of what it is going to be strong or weak dollar we look for what is the volatility and what Companies Really understand how to manage through the volatile time were actually looking for much more volatility wnl within market coming and what company do it well so like anheuserbusch theyre losing large amount of money on this thing. So do apple not doing it well oarngd we have an an amazon doing extremely well and Large Companies doing it very well managing that currency and their liquidity and we help them do it well. Maria how does the back drop feel to you youve got positive news on the vaccine front pfizer moderna for usage for covid19 vaccines, as early as today, ill be speaking with health and human secretaries alex azar coming up about the development when he joins me 8 a. M. This morning but you have an economy that seems to be slowing down. Retail sales this week coming in lower than expected. Were seeing bit of a pullback from some of the higher numbers we saw a new months ago. Whats your expectation of the economy going into your end . So, my expect to have volatility and were going to have good news such as hopefully pfizer and at the end of the day you have to look for values in these things for companies that know how to manage through times who has done well through times of this volatile time for pretty much all of 2020 and who is not doing so well and look at the financials look at what theyre doing and quite frankly were asking ceo to seriously tack look at how well are they equipped to continue to manage their liquidity which isnt just related to dollar but a lot about supply and financing it is about the lifeline of the company being liquidity how we managing. Maria do you want when you say value do you want to stay away from tech . Where is the value wolf gang . [laughter] well actually i like the tax personally because at the end of the day what i think narcotic is understanding more and more especially reoccurring revenue model where you have companies who walk into the year on the beginning with knowing that theyre goifng 97 of their revenue already by year end so i dont think that the stock, tech is over with. I think people are understanding what soflt ware the services companies, and to the Service Companies are doing about and i think it is important to look at those so i wouldnt count text out yet all all so i would look from all sector not just the tech sector and what Companies Know mow to manage through areas for a financial perspective. And with the treasury declining to extend these programses, that are tied to the Federal Reserve stimulus, are you expecting to sell off in stocks as a result it have this to year end how would you see the year end Market Performance . I would think it is going to be mixed at the end of the day were going to get get some bad news like that that wouldnt be particularly good and then were going to get really good news i think that anything that resolves the coronavirus is going to be more positive than cutting systems out so if you actually have the a vaccine ready to go and thats true that would go way beyond were not going to have to use a package to do so. All right. Great to see you thanks very much. Maria go ahead wolf gang make your final point. One of the things to really look at what were doing with china and what will happen on the china front. So one of the interesting parts is were looking for electronic currencies to actually be issued we thoughts that was going to be issued on single stay by china. It did not it gives the United States under the any administration going to be, an opportunity to actually catch up and have an electronic dollar. And that could create the dominance then actually create a strong dollar and a further strong stock market. Maria very good point. Digital dollar is what youre togs about well see if that materializes in the United States a lot of conversation about that. Wolf gang well keep looking at that wolf gang kesser Dagen Mcdowell James Freeman any comment here in terms of the treasury declining to extend those programs and your thoughts. James, have at it. [laughter] well, i think its generally a good thing to have these emergency programs reigned back inening the economy is pretty strong and ready to roll. Ive been saying for a while ting reopening the best stimulus unfortunately, these case numbers have scared a lot of politicians. But the, you know, theres still a lot of fortunately mortality lower than it was earlier in the year. So i think we need to continue to reopen and, obviously, vaccine is great news. I on the other hand am building phone calls every day from friends whose businesses are gong under not really because of a lockdown and they can no longer operate at, you know, at 30 of their revenue from where it was a year ago. Some of that is a lockdown but some of it is of american who is go out there there and move around and travel because requires is still a problem. So theyre waiting for the vaccine but some of them cant wait, and the commercial real estate owners and landlords theyre going to have a karma based on how theyre treating people at their weakest moment ill leave it at that. All right were just Getting Started this morning well get back to that dagen lots to talk about around that. We are taking a break and then the battle for the white house and President Trump fight for free and Fair Election. Weal talk with a member of the president legal team jenna ellis will join us after that break. Join us on fox business. 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Go grayscale. Maria welcome back combating Election Fraud President Trump attorney Rudy Giuliani allegings widespread Election Fraud at a press conference yesterday saying that the number of flawed ballots is more than double the margin joe biden won in key States Campaign alleging the following number one observers were prevented from viewing mailin ballots two official were told not to look for ballot defect it is three they were told to back date mailin ballots and the dominion vote ling is use in the multiple states have ties to venezuelan government and votes counted overseas now dominion said latest flood of absurdity is a nonpartisan American Company with no ties to venezuela or cuba. Vote counts are conducted by county and state Election Officials not by dominion or any other Election Technology company. Joining me right now is an attorney for President Trump one of the leaders of the legal team jenna ellis it is great to see you this morning. Thanks for being here i know youre coming back in the 8 a. M. Hour. So well have more time then but first, whats your response to what dominion is saying no ties to venezuela, you know, absurdities, et cetera. Well, of course, theyre not going to respond and admit anything, i mean, thats, of course, a denial. But what we want is to make sure is that we can inspect these machines and just see what is actually in the possession of these Election Officials and so when importantly i think these are questions that American People have a right to have the answers to before the Election Results are cert if id so even in my home state of colorado, ive received multiple emails just since yesterday from people who were local prosecutors, and other Election Officials themselves who have really tight concern about dominion and showing how even the shift in colorado has impacted the local election it is there. So i think that these are questions again that the American People deserve to have answers to. Now, im reading story theyre calling this dominion employee a antitrumper selfidentified at dominion votings systems apparently admitted on social media to rigging Voting Machines in order to prevent President Trump from winning reelection. In an interview, he said he secretly infiltrated a chapter overheard discussions involving eric from dominion and role in steer the election is this something that youre looking at . Yes. Were looking at that and that particular individual actually provided sworn affidavit to our legal team this is serious were looking into these allegations ive seen the facebook potion and social media post that this particular informant is referring to again these are questions that American People deserve to have answer it is to. And not just about dominion but also about the systemic widespread problems with Election Officials not following the state legislature laws. The constitution requires that only the state legislatures can have election laws and theyre the only ones who can make those so when you have executive branch Election Officials that arent abiding by those this is election official fraud this election was stolen and we know that for a fact. Yeah. Jenna yesterday you outlined how there are constitutional procedural safeguards against corruption and foreign influence in election it is that should be put into place. I want you to go through why youre not bringing more evidence out now. I mean the press continues to say, you know, you dont have the evidence when will you be unveiling this evidence to tell people how you intend to prove that, in fact, this was <