Transcripts For FBC Mornings 20240703 : vimarsana.com

FBC Mornings July 3, 2024

Hush money trial is entering day 20 this morning as former Legal Advisor to Michael Cohen, Robert Costello will return to the witness stand today for cross examination. Judge merchan clashed with costello yesterday sending reporters out of the courtroom, threatening to hold him in contempt if he continues to, quote, stare him down during the testimony. Costello confirmed that cohen said trump did not know anything about a nondisclosure agreement payment to Stormy Daniels. Cohen also admitted he stole 60,000 from the trump organization. He said, yes, i stole 30,000. When you add it up with taxes it was 60,000. The defense team will likely rest their case today as trump calls for this case to be terminated because of the lies out of Michael Cohen, he said. Joining me is former Georgia State representative, former candidate vernon jones. Its great to see you this morning. I want to talk to you. You were in the courtroom yesterday with former President Trump and it really from what im hearing from people seemed like it was a pivotal day. Can you tell us what you witnessed yesterday . Well, maria, when i hear President Trump normally describe how corrupt the judge is in the morning briefings, you hear it but you dont know until youre in the courtroom. Being in the courtroom it was clearly obvious, this judge is biased, he hates President Trump and when i saw him rule against not only the president having a witness called, Expert Witness on Campaign Violations to explain to the jurors, something is not right here. 90 of the time he was ruling against the judges against the president s lawyers. But he really came unhinged with bob costello after he was trying to initially keep him from testifying but it was so limited in his testifying that it was frustrating to the judge when bob started sharing information on Michael Cohen, what Michael Cohen said to him, the judge became irate, the judge really started rolling his eyes at bob and then not only did he get the jurors to be removed from the courtroom, then he just went in on bob and then all of a sudden he said i want the whole courtroom cleared, not just as you mentioned the reporters. Everybody was cleared out except the lawyers and the defendant. It was an unhinged judge. Hes obviously very upset at the president. He doesnt want the president to get a fair trial. Hes trying to put the president in jail, honestly. Maria well, look, he said, and im reading a quote here from the reporters in the room as well, they said he said and then if you dont leak my ruling, you dont give my side eye and you dont roll your eyes, he told costello and he asked him, are you staring me down right now. Whats with the staredown . What happened there . Well, bob like all of us probably in the courtroom was frustrated because every time bob would try answer the defenses questions and he would get detailed about what Michael Cohen said, the judge became us frustrated because it was clearly painting a different picture of Michael Cohen to the jury and the judge did not want the jury to hear what bob costello had to say so he became eye staring, he was really upset with bob i was obvious and apparent and it was a sham. It was a kangaroo. Ive never seen anything like this in a courtroom in all my life. This judge stooped that low. Maria costello told jurors, quote, Michael Cohen said numerous times President Trump knew nothing about those payments, that he did this on his own and he repeated that numerous times. What happened in the courtroom when Michael Cohen was asked if he stole money from trump . That must have been an incredible moment. It was a gasp. It was like perry mason moment, clearly. On the stand and to say that or admit that he stole 60,000 which the defense attorney made sure so you stole 60,000, were not talkin talk were nt charged by the da, you got away with et it. It was a perry mason moment. It shows i Michael Cohen is inconsistent, hes unreliable and hes contradictory, hes not a believable witness. He is a slimeball. Maria he claimed that he paid 50,000 to a Technology Company for its work, artificially boosting trumps standing in a poll and then a he said he only gave the firm 20,000 and he pocketed the rest, 30,000, and then you tax it up, its 60,000. He said yes, i stole money from trump, i stole the money, he said it on the stand, right . Well, you know what, he could not deny it because they had all the proof but it shows right there, again, not only is he a liar, hes a thief. How much more has he stolen that didnt come out. That makes it more discredited. That made the judge feel very upset with the defense because they brought that out and they were bringing out more through bob costello and the judge did not want that information to come out. That the president had nothing to do or had no knowledge of a pay. Maria unbelievable. Let me switch gears and get your take on whats going on in georgia in your neck of the woods. Fulton county da fani willis and the judge from the trump georgia case are both facing primary elections today. Fani willis appeared on the Rachel Maddow show where she addressed calls for a state Oversight Committee to monitor District Attorneys across the state claiming its racially motivated. Watch this. This job has certainly made me closer to god because you have to go into prayer often. Georgia never had a prosecutorial Oversight Committee and all of a sudden 14 minorities were elected to office to serve as District Attorney and now all of a sudden they needed Oversight Committee to look after District Attorneys because they want to tell us how to prosecute and who to prosecute and where we should put our resources. As opposed to allowing the voters that put us in these seats to make those determinations. Apparently, we now need daddy to tell us how to do our job. Maria ill tell, fani willis, man, she is tough. She is currently under investigation by the Georgia State t senate over the use of taxpayer funds during her you affair with the former special prosecutor, nathan made. Maddow on the show didnt ask her about any of that, vernon. Your reaction . Maria, i wish i could have been on that show to debate the District Attorney. Sheafs out of fulton county. Theres been an africanamerican District Attorney there for the past 3 30 years or so. Distruck attorneys have gone District Attorneys have gone rogue before. Theres no oversight. It should have happened a long time ago. This is about her being incapable and having ethics issues. Can you imagine, District Attorneys answer to no one . In many states there are oversights over District Attorneys, because of they can just go rogue and not be held accountable to anybody and so that was just unwarranted. I wish i could have been there to debate that. Maria you were in the trump courtroom. How did President Trump seem to you . Do you think hes going to get a fair jury . First of all, i got a chance to spend some time with the president during the breaks as well. This man has the stamina and strength, its amazing, hes strong. You dont see him melting or falling apart. Hes funny. And hes direct and he was clead it is true that hes not getting a fair trial primarily because of the judge more than anything else. I looked at the jury pool. You know, its interesting. Theres not one black male on the jury pool. You would think in new york city you could find at least one black male. Theres one black female. Theres more asians than there are blacks, theres two the asians. Its mostly white male, mostly white female. We know the criminal justice system, it would have been helpful to the defendant but i think hes going to at the end of the day, its based on the instructions that the judge gives the jury. That would make that determination. Maria great to talk with you, thanks so much for sharing your firsthand experience there in the courtroom yesterday, vernon, thank you, vernon jones joining us this morning in georgia. Well be right back. Stay with us. What took you so long . Im sorry, there was a long line at the thai place. You get the sauce i like . Of course youre the man i wish. The future isnt scary. Not investing in it is. Nasdaq100 innovators. One etf. Before investing, carefully read and consider Fund Investment objectives, risks, charges, expenses and more in prospectus at invesco. Com maria welcome back. Time now for the word on wall street, top investors watching your money, joining me is citi head of u. S. Ebbing with which equity tradingstrategy, sec stun lonski. Macys and a lowes out with First Quarter numbers. Lowes Beat Estimates even as they said do it yourself customers bought fewer pricey items, stock is up almost 3 . Macys beat on earnings, missed on revenue. The stock is up right now. The company said its seeing early signs of moment momentum e turnaround strategy. Were looking at target and tjx tomorrow. The big story is nvidia after the bell tomorrow night, the ceo said the partnership with dell will spread artificial inthe intelligence to a wider range of customers. Im reading a note from thomas lee. He said its arguably an understatement to say nvidia is one of the most Important Companies in the world given chips are central to powering a. I. He said usually people think once the news is out the stock sells off a. Theyre expecting a post rally after eps on wednesday night. We think probabilities favor a rise in nvidia stock price post earnings wednesday. Even with the lofty expectations, your thoughts on what to expect from nvidia the. The analyst might well be right. Nvidia has a dominant market position in a very rapidly growing industry. How could you go wrong . And if we do have a rally in nvidia stock following the release of their earnings, thats got to be a positive for the overall market get. Maria yeah. I mean, theyre also telling clients that they feel thats true for the Broader Market as well, that we expect a broadening of the equity rally as we move through may. Stuart, it used to be sell in may. Tom lee is telling people to buy now. I want to get your take on commodities, stuart. Look at whats going on for things like gold, silver, copper, across the board, nickel, commoditys rally is continuing. This morning gold is pulling back a fraction but its at 2,446, copper, look at copper, up another half a percent. Gold touched a record high yesterday, copper is hitting new highs, silver is near 12 year high right now, copper is up half a percent this morning. Silver is down, but its near the highs, stuart. What do you think about the run in commodities. Its a great question. Commodity strategies is generally pretty positive, copper included. Copper is probably the most interesting part from an Equity Perspective just because its much more growth sensitive, i think some folks are trying to translate a. I. Power demand into more demand for copper and you have stimulus out of china so the copper story is more positive for equity markets, Higher Oil Prices a risk from inflation and geopolitical risk. Gold, a little bit of a wild card. Some of that is folks worried about inflation. Some of that is folks worried about dollar stability and things of that nature but were generally positive, the commodity complex. I think if youre an Equity Investor its the copper side of the ledger you want to be most focused. Maria you mentioned the power demand. People mention the data centers, i have one note talking about that, equity research, a. I. The over arching theme in the market today and the power is potentially the bottleneck. When you look at data centers and demand theyre going to need for things like copper, thats partly whats behind this, right . Yeah. I think thats a big part of it. Its demand for a. I. Power generation, the ev rollout also requires you to upgrade the grid and generally i think the grid most people view has been underinvested for period of time so the 30 pow p power generatio, many reasons why people are bullish copper. Maria any thought on earnings with nvidia tomorrow night. Ini hvivid ya one of the moe Important Companies in the world. Its viewed as a payroll or cpi print in the u. S. , hugely important. Maria it could be a big market mover. Jp morgan, lets talk about that, john, because jamie dimon, chairman and ceo, said retirement is getting closer. He said that yesterday. The quote is, the timetable is not five years anymore, said jamie dimon. I asked him about his expectations for a successor on this program back in january. Watch this. You have led jp morgan masterfully, you really did, congratulations to you. Youve got three, four more years on the contract. Of course you think about succession. Do you have in your head who you know who you would like to have as your successor, do you know . No. I think first of all, its a board decision. But i think the board has in its mind five people that they would or six that they know are the ones that can do it, are very quality and we think about it like every day. Maria well, theyve been talking about the two women, one running the consumer space, john. I dont know how soon this is happening. Jamie didnt say. He usually dont go there and he went there yesterday. What do you think . Whoever takes the place at jp morgan has some very big shoes. Maria big shoes. Yeah. A lot will be expected of them. I want to add one thing. Jp excuse me, jamie dimon made an interesting comment yesterday and that is when he was asked about his view of the economy and Business Activity Going Forward, he said that he was cautiously pessimistic, not cautiously optimistic. So that tells me that even though jp morgan still expects a soft landing, the risks Going Forward are very much to the downside because we havent seen the end of the stay by rapid inflation and higher Interest Rates. Maria thats spoton. Hes been saying that for a while, very cautious as the market can rallied and the economy has performed better than expected, hes been certainly cautious if not down right negative. Stuart, any thoughts on the macro story . Yeah. I mean, i think the story out of jp morgan was possibly net positive, net interest income, jp morgan i think most bank ceos have been cautious about the economic outlook. Theres not a ton of new news but it is important, i think. Maria all right. All fair points. Great to see you, gentlemen. Thank you. Stuart, thanks for joining the conversation. John, youre with us all morning, we appreciate that. Youll hear more about the the markets in my interview coming up with jeffrey gunla ap. He talked about the macro story, the fed, and well talk about that coming you up. Quick break, congressman dan meuser is here, hell be in the courtroom today with President Trump on day 20 of the president s socalled hush money trial, what hes expecting to hear after the break. Youre watching mornings with maria live on fox business. Stay with us. luke this will be a gold mine of local intel. Just you wait. marci right. So, tell us about this corn festival . stylist 1 oooh you got your corn pudding. You got your corn chowder. marci so. Is it safe around here . stylist 2 sometimes. luke if a family of eight were to need a cold plunge, where would they find it . stylist 1 . And then they dip it in butter, then bam, it goes right in. stylist 2 . Really cute vampire bar. stylist 1 the reverend does like a blessing on the corn. luke donut shops. How far from here . marci no eyebrows . luke think of how light itll feel in the summer. Weve got to run. Eleven thousand more neighborhoods to go vo ding dong homesdotcom. voya there are some things that work better together. Like your Workplace Benefits and retirement savings. Presentation looks great. Thanks thanks voya provides tools that help you make the right investment and benefit choices so you can reach todays financial goals. That one and look forward, to a more confident future. That is one dynamic duo. Voya, well planned, well invested, well protected. And theyre all coming . Those who are still with us, yes. Grandpa whats this . Your wings. Light em up gentlemen, its a beautiful. Day to fly. Maria welcome back. Former President Trump back in a new york city courtroom this morning. It is day 20 of his socalled hush money trial. Ex attorney Michael Cohens former Legal Advisor Robert Costello will return to the witness stand for cross examination today. Yesterday costello confirmed that cohen told him trump did not know anything about a nondisclosure agreement payment to Stormy Daniels. Cohen admitted he stole money from trump, he admitted to stealing 60,000 from the trump organization. Joining me now is pennsylvania congressman dan meuser. Congressman, thank you for being here. I know that this morning youre going to be going down to that courtroom, youre going to be there with former President Trum

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