Transcripts For FBC Mornings With Maria Bartiromo 20160215 :

FBC Mornings With Maria Bartiromo February 15, 2016

1. 4 in the fourth quarter. Still looking at recession in japan. We will bring you all the latest developments out of the ecb president. Stock markets closed in the u. S. , of course, but futures are trading higher, take a look. 228 points the market closed all day in observance of president s day. A scare in sky from a flight traveling from london to new york, laser forcing pilot to turn with more than 200 passengers on board. Authorities are still working to find the source of the laser. Kobe bryant with final appearance in allstar game yesterday. Hes retiring after 19 years in the league. Two Video Tributes in his honor before the game began. Death of Supreme Court Justice Scalia sent shock waves over dc in the weekend, major issue to name replacement. Peter barnes is following the latest in washington. Peter, good morning to you. Peter politics of all this pretty simple, president obama should template the next president who might be republican, of course, appoint a replacement. The president says no way, i have the duty and the power to name replacement before i leave office and you can bet his candidate will not be a towering conservative like scalia. Hot topic on the campaign trail. I cannot wait to stand on that stage with Hillary Clinton or with Bernie Sanders and take the case to the people, what vision of the Supreme Court do you want. The president has a responsibility to nominate a new justice and the senate has a responsibility to vote. Scalias can put major cases on hold as any vote that is currently tied in a lower court is upheld. The existing ruling stands, some important cases that could stand for now include ones that end mandatory union dues, allow religious organizations exemptions from obamacares mandate and challenge obama immigration policy. Maria all right, peter, peter barnes in dc. Joining us john hart. Thanks for joining the conversation. Great to be on. Maria president said he will name a success or. Any nomination will be dead on arrival on the senate. Obviously the debate is heating up. How do you think this plays up . This has a potential to be a game changer in 2016, the reason is we not only have one branch on government on the ballot but since we have two branches of government that will be decided in november. Its going to have a profound affect on the republican race in particular and perhaps the democratic race as well. We saw clues on the debate about it saturday night where senator cruz, rubio and bush really went after donald trump for not being the true conservative. So its going to add a sense of gravity and weight. Maria i understand all of that. Do you think the president will get his nominee through, is really the question . No, no hes not going to get the nominee through because he has zero good will among senators because of his abuse of executive orders, so senator mcconnol feels hes on solid ground to allow any person that obama nominate to go through. Dagen a recess appointment is possible for basically a shortterm justice. It would run two years, theres some debate because president obama, because courts have shot down the recess appointments on the National Labor relations board, but there is some talk and i would point out that mr. Obama, theres no chance he will use recess appointment. In theory, the republicans could ally with the white house and say, okay, we will template you do this and make a recess appointment for the twoyear period just to make sure that business on the court moves forward. I think thats very likely to happen and the reason is because theres so there are so little trust and so much animosity between the Obama Administration and Senate Republicans and congressional republicans. Maria yeah. It would be very hard to come to that kind of agreement which would require allow of nuance and relationships. Obama doesnt that relationships to do that. Well, i think its going to help rubio, cruz and bush equally. It could be a very Bad Development for donald trump. Donald trump talks about he compares himself to ronald reagan, any conservative knows that when you think about the reagan legacy, he was marinating in ideas for years before he ran for president. 16 years before 1980, 1964 gave speech. 16 years ago today donald trump is building casinos and gearing up to launch the apprentice. Theres a big gap between conservative credibility with trump and the rest of the field. Maria thats interesting. Go ahead, kevin. Kevin john, my question is if the republicans are not going to approve any of the nominees, why didnt they wait to see who obama nominates as oppose to coming out right away and all of a sudden just saying theyre going to shoot anybody down no matter what . I feel thats going to give more to the antiestablishment movement. Washington as usual, so why wouldnt they wait . Well, they didnt wait because the conclusion is a fore gone conclusion that president obama will obviously nominate somebody who is going to be far to the left of where republicans are and again, we have two branches of government on the ballot now in november, not just one. So its a serious and grave situation and republicans felt compelled to go ou and say, no way, this is not going to happen as long as were in charge of the senate. Dagen but doesnt ted cruz runs a risk that if the Senate Republicans do move ahead on a nominee, what if president obama comes up with someone who at least seems middle of the road. If they move ahead, that destroys ted cruz in this president ial election and maybe even rubio, that they couldnt stop it. Well, you know, it wouldnt help them but i think, again, you have senators who are themselves running for reelection, so i cant imagine that senators and swing states or states where president obama won are going to wanting to to a path of exposing themselves to that kind of criticism when they can just wait a few months and have someone much closer to scalia than a place holder. Again, thats a tricky proposition to even establish that. Maria really an interesting dynamic here. We will see you soon, john hart. Japan bargain hunting was the name of the game, beating down banking sending the nikkei average to biggest gains since september recovering much to have 11 decline with 7 rally overnight. Nikkei average largely lower for the year. This is after the latest data showed that japans economy continues to shrink. Weak consumer spending. Fourth contraction in seven quarters for japans economy. We continue talking about this. The japanese economy remains in recession despite kevin yeah, this is showing whats happening across the global. If you look at export numbers, they did not do well at all. Japan is the thirdlargest economy in the world right now and theyre an export economy. Youre seeing 7 up in one session. Theyve been getting beaten up. Youre seeing the wild big moves. Weve seen it time and time again in ifer trading session this year and its going to continue to happen because the market is trading on macro news and not on company news. Maria they keep comparing japanese post, the Biggest Company in japan that went publicyear. Michael, do you agree in that comparison when that turns they think the japanese market will turn . Michael i dont think its quite that easy, maria. A few things to look at japan is up 7 on the good news that gdp is down. If you dig into those numbers, its really as if the policy makers are shooting themselves in the foot. The yen goes the other direction. The fact is it had been weak and was hurting consumption. Japanese were not spending money on consumption here. What do you do now . Are you going to cut rates further, whats the yen going to do . They were chasing their own tail here. Its up that we are up 7 . I will say for technicians out there, bounce of key longterm level. Technical analysis working. But in terms of what the economy is doing, i really think that in japan policy makers are not being consistent. Kevin they have threw even at the economy, they are buying stocks, everything across the board and its just not working. Maria an issue that we talked about in the past, dagen and that is people do not are losing confidence. The Central Banks around the world have any ammunition left. Dagen when you lose that confidence, you cant win it back. The benefit for the u. S. Is great. The rest of the world looks lousy and then lower Interest Rates here in the United States. Soak it up while you can. Michael thats been a dragging data set. Its really been bad. A little better. Dagen gas and autos were up. Maria thats not bad. Michael maybe theres something in that, now what . Kevin you know what the worst part is markets are going up in converse to whats happening with currencies, so if the currencies are going to go down more, the market will go up. Currencies should not dictate Market Action. Maria but they have been because of the strength of the dollar. Kevin whats nominated in dollars, oil, copper, you name it. When those currencies are actually strengthening, you know, thals going to impact all of those and trickle into a merging market. You name it. Maria long way they wanted it to go. Michael the fact boj cut in negative and yen rallies, it shows how much dysfunction there is. And thats a problem. Dagen our markets are closed and people are working today and people are trading overseas, whats the competition doing . In reruns. Maria and then theres that. Dagen we work because we care and lots to talk about. It matters to our lives. Maria pharmaceutical ceo is in the cross hairs of the irs. Battle of gop nomination head south we will take a look at the candidate in best position. Back in a minute. You cant predict. The market. But at t. Rowe price, we can help guide your investments through good times and bad. For over 75 years, our clients have relied on us to bring our best thinking to their investments so in a variety of market conditions. You can feel confident. In our experience. Call a t. Rowe price retirement specialist or your advisor. To see how we can help make the most of your retirement savings. T. Rowe price. Invest with confidence. All across the state the economy is growing,arts today. With creative new business incentives, the lowest taxes in decades, and university partnerships, attracting the talent and companies of tomorrow. Like in utica, where a new kind of workforce is being trained. And in albany, the nanotechnology capital of the world. Let us help grow your companys tomorrow, today at business. Ny. Gov my lineage was the vecchios and zuccolis. Through ancestry, through dna i found out that i was only 16 italian. He was 34 eastern european. So i went onto ancestry, soon learned that one of our ancestors we thought was italian was eastern european. This is my ancestor who i didnt know about. He looks a little bit like me, yes. Ancestry has many paths to discovering your story. Get started for free at ancestry. Com maria welcome back, republican president ial candidates facing off in their most heated debate. Cheryl casone with the details. Cheryl, what a debate that was. Cheryl it certainly was. Saturday nights debate was a wild one, striking nerves and igniteing with hot issues like immigration and 9 11. While donald trump was building a Reality Tv Show my brother was building a Security Apparatus to keep us safe and im proud of what he did. [cheers and applause] the World Trade Center came down during his brothers reign, remember that. Cheryl it got really heated on saturday night. Maria he got booed. Dagen he deserved to be boo booed. Maria i agree with you. Cheryl we are going talk about that coming up. [laughter] cheryl it was good. We are going to have coverage of the nevada caucus and South Carolina primary. Saturday february 20th so tune in to fox business. Hbo releasing season six of game of thrones. It does a good job of bringing back some hunting memories. The long night is coming. And the dead come with it. Cheryl dead of throne prem premiering april 24th. Martin shkreli defending with 6 million unpaid taxes and interest to the government that dates back to 2014, a little bit of money on 2013. Anybody using my credit card back traced and prosecuted. Maria he lost 15 million to a con man as well when he was trying to buy the rights to kanye wests new album. It was the worst day of his life. He keeps doing all this stuff, no kidding that all of the asian yicion are coming after him. I dont think its right but at the same time hes making himself such a target with behavior during investigations. Dagen hes doing it on purpose, any attention, theres no such thing a bad attention. Any attention is good attention. Rron what his plan is down the road, though, like having some reality show, they dont template cameras behind bars for the most part. Kevin hes trying to serve a distraction for what he actually did which are serious and grave allegations, think about it. What he did, he actually took money from investors, he lost it all and started a new company, borrowed money from the company, stole it, did the contracts, no one lost money but it was so grave and serious that they indicted the lawyer too. Maria these are the fraud charges. Kevin completely different from raiseing prices. Maria separate from the irs charge. Michael yeah, right and i have a kanye album to sell you. Maria right. We will take a short break. Cheryl, thanks for that. Iran shipping first barrels of oil to europe, how that could affect prices. Iranian oil on the market. In case you missed it, house spauker Speaker Paul Ryan a week from the South Carolina primary. I think we owe the country a real choice and we cant wait to the fall, we need to do this earlier so that we can talk about it all summer long, all fall long so we really truly give people a clear choice so that the people of this nation get to choose and this is what you could do with the republican president to get the country back on track and thats the agenda that we are fashioning. Maria welcome back, iran preparing first shipment of crude oil to europe. Tankers could depart as soon as today, as a result of lifting of sanctions in the wake of iran nuclear deal. Michael, retail price of gasoline has been falling in recent days, when iranian oil makes it to the United States, how do you think this plays out for the market . Michael this should be great for consumer, lets see how far that goes, what us it mean to retail stocks. It could end up being a good thing for consumers. As for oil itself, im worried about lowlevel. , you know, the general risk. Im still worried about demands. Im not getting a lot of confidence on the demand side. It needs to be better than fine. [laughter] michael it needs to go up. Kevin its not only a demand issue but supply issue. Iran came back online and nobody is cutting across the board because they have to generate the revenues to pay off their debt. What the problem and you can see it happening in the Capital Markets that even banks are start to go look to sell the revolving, they are at the top of the stack at discount. Its reported that it could be a third of the emp producers are going to be in distressing and could be left filed for bankruptcy. This is the scary part that could come through the system. We dont know whats going to happen. Its still the looming thing. Its an overhang, thats why banks are anxious to lend out in sectors. Maria down 15 year to date. Thats the worry, right . Kevin we are still under 30 a barrel. Thirty dollars. Dagen friday in terms of volatility if youre placing any bets in the Energy Sector or stock market oil is up 12 on friday. Biggest jump since 2009 in seven years. Maria why was that dagen . A lot lot of it was credited to short covering. Michael i have to hear from the saudis, number two maria the headline from opec. Michael we are doing production cuts and theyre not going to do. You think, russia, venezuela, iranis are going to follow through it, history says no. Kevin look at what happened, on friday it was up 12 . Maria the headline that said opec would consider cutting production. Kevin oil was up like 2 . Thats the nice part. At least the Political Risk has been removed from the oil and thats a good thing for the u. S. And politics and consumers. Michael no more supply shuts. Maria there you go. Coming up cia director, isis will attempt an attack on u. S. Soil, how the u. S. Is preparing, stay with us on this important issue. Back in a minute. Donald trump people love me. Donald trump. Look past the boasting and youll see right through him. He supported partialbirth abortions. His phony Trump University . Accused of fraud. He tried to seize private property to line his own pockets. Four bankruptcies. And Small Businesses screwed over. Poll after poll shows him losing. To Hillary Clinton. If trump wins, conservatives lose. Right to rise usa is responsible for the content of this message. Good morning everybody. Welcome back im maria bartiromo, happy president s day monday february 15th president s day marketses are closed in the u. S. So was our comp face by the way. You want the news that matters to you youre on the place on fox business network. Top stories 6 30 a. M. On the east coast. Mourning the death of scalia but the battle over his seat on the high court is heating up on capitol hill and campaign trail. I just think at a time when the country is so divided it would just be great if the president didnt send somebody forward. The constitution is pretty clear. President makes the appointment, senate confirms, lets get on with that business. Scalia found dead on saturday in texas, a local judge says scalia died of Natural Causes at 79 years old. Well talk about scalia legacy and next step to the court with senior judicial analyst judge napolitano municipal in the program. Stay with us for that. On to 20 16d race president bush will make a run for jeb. Appear at a rally in South Carolina day its before voters hit polls in the states primary. This upcoming saturday. On to Global Markets. Closed for the president s holiday but affiliate moves this morning to tell you about overn

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