Maria good tuesday morning, everyone. Thanks so much for joining us this morning. Im maria bartiromo. It is tuesday, march 12, you your top stories right now, 6 0. Today inflation on deck. Futures are mixed this morning ahead of the february Consumer Price index out this morning, expectations of a hot reading coming up at 8 30 a. M. Eastern, dow industrials right now down 42 going into the number, the nasdaq is up 62, as all of the democrat spending comes home to roost. The president unveiling five andahalf trillion dollars of new and higher taxes in his massive 7. 3 trillion 2025 budget. Taxpayers get Stuck Holding the bag after all of the president s spending led to 40 year highs. More on the cons m her with consumer with kohlscoming out l take a look at oracle after reporting earnings last night. The stock this morning rallying almost 14 higher on oracle right now. Then bitcoin on fire, touching another alltime high yesterday. Take a look. Bitcoin is pulling back from the record highs this morning, sitting at 71,905. Everything you need to know about the Digital Space coming up. European markets this morning are mostly higher, the ft 100 is higher by 67, cac quarante in parises is flat, up 1 point, the dax index higher by 45 a. Asia overnight, a mixed story. Take a look at the indices, hang seng shooting up better than 3 he overnight. The house voting on a bill tomorrow that would ban tiktok in the United States if it does not divest from the Chinese Company bytedance. Hear from fcc commissioner brendan carr7 45 eastern. President bidens classified document scandal back in the house light as robert hur testifies this morning. Joining us this morning, caroline downy, luke lloyd is here and fox business cheryl casone. Mornings with marias is live right now. Maria time for the hot topic of the hour. The white house is pushing back this morning, insisting that President Biden p did not you apologize for using the term illegal while describing laken rileys suspected killer. Watch this. The president absolutely did not apologize. There was no apology anywhere in that conversation. He did not you apologize. He used a different word. There are some people who are playing politics with this young womans tragic murder. Lets not forget House Republicans are standing in the way of a bipartisan Border Security agreement. Maria oh, yes, the white house is claiming that biden used a different word. However, here is the president during his state of the union youaddressand how he back tracks words over the weekend. Lincoln riley, an innocent young woman who was killed by an illegal. Do you regret using the word illegal to describe immigrants last night, sir. Technically, not supposed to be. I shouldnt have used illegal. Its undocumented. You regret using that word . Yes. Maria meanwhile, President Biden was asked about his plans to take executive action to address the Record Number be of migrants entering the country. Heres what he said to that. Mr. President , when is the border exec ive the action coming executive action on the border. It happened by itself, passing it. Maria happens by itself. Caroline, your reaction . Oh, gosh, its absurd. I mean, in 2023, maria, many of the 3 million illegal aliens apprehended at the border were coming from hostile countries and 169 of those were unfortunately on a tear a wristt watch list and like consider it tosser i wray said in they the past Christopher Wray said in the past, it doesnt account forgot aways. Maria hes not going to take executive order on that. Christopher wray was out again yesterday warning of a wide you array of dangerous threats that originate at the u. S. Border including smugglers with ties to i isis. Watch this. Certainly we have had dangerous individuals enter the United States of a variety of sorts, from an fbi perspective we are seeing a wide aarray of very dangerous threats that emanate from the border and a lot of the violent in the United States is at the hands of gangs who are in distribution of fentanyl. One particular network, the overseas facilitators of the Smuggling Network have a isis ties that we are very concerned about and we have spent an n nor enormousamount of effort invest. Maria it took 19 terrorists to bring down the world trade sun tear. A new gallup poll finds a record high number of americans say illegal immigration is a critical threat to the United States. Cheryl, your reaction. Well, look, over the last few years weve seen enough fentanyl y according to the administration to kill 270 million americans. Of courses not going to put in the executive order because thats bad politics, you mentioned the bad polling. When you have former President Trump and current President Biden going to the border on the same day, you know its an issue for voters. The National Security threat, im glad the fbi is investigating this, im glad that Christopher Wray is on the topic. When you ha our colleague maa great point. When you have our current president apologizing about how he referenced a murderer, something is definitely wrong when it comes to the u. S. Border. And so i hate to say this, were talking about the death of a young girl but theyre plight politicizing this, thats what the administrations is doing right now. This on your screen, they reversed all of this, they reversed everything when they walked into office. This is their fault and they may pay for it in november and they know it, maria. Maria luke, it doesnt feel to me like any of this is phasing biden. He just was asked what is he going to do about it, he said the action happens by itself at the border. Hes not going to do an executive offed to change anything. I dont know why something bad has to happen to wake up all of america, including democrats. The new dthe new democratic pars reactionary. Theyre not preventative. In 2008 biden said sanctuary cities shouldnt be allowed to violate federal law and argued a fence was needed. Now almost 4 Million People are pouring in. Theyre reactionary, not prevent tip. Maria of course, this administration is doing spin control on what the president said about a murderer who murdered a wonderful 22yearold nursing student, calling him illegal, he which is exactly what he is right now. Were just Getting Started this morning. Quick break. Markets are mixed this morning. Weve got a major move in oracle shares. Were going to tell you what was behind the quarter and a weve got key inflation data, the february Consumer Price index is out in 2 andahalf hours. Weve got all hands on deck, dow is down 23, nasdaq is up 78. 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Shop now at sleepnumber. Com maria welcome back. Take a look at futures this morning. Were looking at a mixed opening with the dow industrials down right now 33 but the s p and nasdaq higher. The s p and nasdaq were lower yesterday but this morning the nasdaq is up 75 and s p is up 10 andahalf. Yesterday we had weakness for a second straight session on the s p and nays nasdaq, pulling bk from record highs. Oracle can, the stock is soarint had better than expected earnings last night, reporting a 27 increase in net income, income coming in at 2. 4 billion for the quarter with a 12 increase in sales for the companys cloud services, license support segment. The stock right now at 129, 20, that is up 13 . Weve got the last bit of retail earnings this week, well hear from kohls, followed by dollar tree tomorrow and Dollar General on thursday. A good look at the consumer. Joining me now is senior equity strategist, linda dissel. What is your thoughts on the earnings season which is pretty much wrapping up soon . Good morning, maria. Thanks so much for having me. The earnings season once again for the Fourth Quarter was really a surprise on the upside and in a broader way than many people would have thought. We know about the magnificent seven or six at this point but the rest of the market it seems is doing very, very well on what weve been watching very closely to see how long this can go on, is the strength of corporate Profit Margins and most companies saw those margins go up last quarter. So what a great strong way to start the new year. Maria yeah. I mean, one of the highlights from the oracle quarter was the a. I. Cloud business, of course a. I. S has been driving this market for so long, this last year andahalf. Your thoughts on Artificial Intelligence and the promise of growth here. Look at oracle this morning, up 13 . Yes. I was there for the internet, ended up being a bubble and last week i dont know how many times you i you saw or read the word bubble, are we in a bubble with a. I. A. I. Is very, very powerful, as powerful as the internet was back in the day but these companies are far more profitable than they were back then and thats whats really powering this market is that not only are the companies that are providing the a. I. Chips and et cetera, the companies who are buying from them are also extremely welltodo. So this is likely to continue ongoing and here we at a federated hermes we have 5200 target for the s p this year. Weve already touched this level. We may have to revisit for a return to normal scenario we have suggested, a good year, not n n a awesome year but it could become awesome as the Growth Continues to spread throughout the rest of the marketplace and people start checking out those stocks and not just tech stocks. Maria you mentioned the dotcom boom. I was there also, i think initially when people didnt know where the growth was and just started buying everything, all ships were lifted until things settled out and there was a big bubble, longterm the strong certainly held on there and thats why i asked howard lutnick, the chairman and ceo of cantor fitzgerald, whether or not all the you euphoria around a. I. Is a bubble as well. Heres his response. Of course its a dotcom bubble. What else could a. I. I mean, every show we talk about a. I. , every time, you know it is overblown but had will be some excitement for a while and then the excitement will cool but right now nvidias got the ball. Everybodys got to infuse a. I. Into their business. We have to. Everybody has to. And thats great for their business. Maria so does the fed keep up this euphoria, linda . Look at Interest Rates this morning, the 10 year treasury this morning is hangi han hangit around 4 . The majority of economists say the fed will cut rates at june. People think the fed is going to signal fewer cuts later in the year. Weve got the next meeting, the end of march, the 30th and 31st. This morning well see if the cpi number informs the fed, that numbers coming out at 8 30 a. M. Eastern. Economists are expecting month over month prices to be up four tenths of a percent. The new York Fed Survey said americans are bracing for high inflation to stick around over the next few years. So far, everyone that i asked their expectations for the cpi tell me theyre expecting a hot number. Are you as well . Well, the cpi was hotter than exacted in january but pce was not bad and so thats looked to be an aberration after three months prior where we were kind of soft or what we at federated hermes see is inflation slowing a pace, disinflation thats slowing a pace and thats a very good result to see numbers below 4 would be good. To see wage hikes between 3 andahalf to 4 and moving towards 3 by this year end, its all a very nice, relaxed, slowing of inflation that we would expect to see occur this time. And if it does, then the market should really like that. The fed should like that. And why does the fed have to cut Interest Rates now when we continue to make new record highs . And the Unemployment Rate for the prime working age population us just 3. 3 . Theres nothing to complain about now. Theres nothing to protect now. Things are going well. Maria before you go, do you have any bitcoin in your portfolio . Yes, we have a little bit of bitcoin in my portfolio and a the gentleman of the house is very, very interested in bitcoin. So its maria hes been right. Wow, what a move. Linda, good to see you. Thanks very much. All right. Linda dissel joining us this morning. Quick break and then a President Biden has unveiled his massive 7. 3 trillion budget, it includes 5 andahalf trillion dollars in new taxes. Who would raise taxes by 5 andahalf trillion dollars in an Election Year . Thats what biden wants to do. Well talk about it with tennessee congressman tim burchett, hes here with reaction from capitol hill. Back in a moment. And i ran, yo i ra ran so far. I just ran, i ran both night and day. I couldnt get away. Okay yall we got ten orders coming in. Big orders starting a business is never easy, but starting it eight months pregnant. Thats a different story. I couldnt slow down. We were starting a business from the ground up. People were showing up left and right. And so did our Business Needs the chase ink card made it easy. When you go for Something Big like this, your kids see that. And they believe they can do the same. Earn unlimited 1. 5 cash back on every purchase with the chase ink business unlimited card. Make more of whats yours. Its odd how in an instant things can transform. Slipping out of balance into freefall. Im glad i found stability amidst it all. Gold. Standing the test of time. Her uncles unhappy. Gold. Im sensing an underlying issue. Its tmobile. It started when we got him under a new plan. But then they unexpectedly unraveled their price lock guarantee. Which has made him, a bit. Unruly. You called yourself the uncarrier. You sing about price lock on those commercials. The price lock, the price lock. So, if you could change the price, change the name its not a lock, i know a lock. So how can we undo the damage . We could all unsubscribe and switch to xfinity. Their connection is unreal. And we could all unexperience this whole session. Okay, thats uncalled for. Maria welcome back. Well, the white house has unveiled 5 andahalf trillion dollar package of higher taxes in President Bidens massive 7. 3 7. 3 trillion budget. He is proposing 9 billion in defense trillion, 4. 3 billion for social security, medicare, medicaid and other programs. The committee for a responsible federal budget writing it falls short of putting the nation on a fiscal path and doesnt recognize the expense cost of expiring tax provisions. The wall street Journal Editorial Board slamming the budget, calling it a fantasy. Joining me now is tennessee congressman tim burchett. Congressman, its good to see you. Thank you so much for being here. Do you envision the president s budget passing congress . Well, the problem with these budgets, maria, as you know is the uni party will read down into the budgets until they find what pork and what kaye street lobbyists they need to grease are in there and they vote for the bill. I hope we pick it apart and show that in fact keeps running this ma