Mornings with maria begins right now. Goods friday, friday, october 28 top stories 8 00 a. M. On the button on the east coast, big tech tumbles joe biden denies obvious 11 days away from memories elections president is claiming americans are better off today despite 40year high inflation president takes a victory lap on gasoline claiming price of gas was 5 dollars a gallon when he took office it was 2. 39, today much higher than that at close to 4 dollars a gallon signs of Financial Stress continue the morning from big tech, amazon sinking this morning on weak Fourth Quarter guidance worries of important holiday season, meta plunged to lowest level since february 16 last night amazon shares down 12 meta bouncing 1 1 4 after yesterdays selloff new inflation data out in about 30 minutes time we will get the september pce andpersonal income spending reports out 8 30 a. M. Eastern those numbers to you as soon as they cross check the markets impact, futures right now mixed, mostly lower off the worst levels of the wondering dow industrials down 23 s p down 21 nasdaq down 111 right now on the heels of amazon selloff this after stocks closed mixed yesterday s p nasdaq done second straight session weak earnings out of technology, and guidance as a well a a problem for the Tech Companies dow industrials were up 194 yesterday nasdaq was down 178 at 4 00 on wall street, breaking news overnight elon musk has closed his 44billiondollar twitter acquisition. Of first move was to fire the company ceo and cfo, stock this morning up a third of one percent, yields meanwhile, higher take a look at 10year treasury, after, falling for a third day to lowest in two weeks, ahead of the fed meeting tuesday and wednesday the yield on 10year back up 8. 9 basis points, yesterday 30year fixed Mortgage Rate exceeded 7 for the first time in 20 years to look at mortgage 7. 08 on the 30year oil prices are pulling back earnings from if chevron, exxon this morning, chevron double beat earnings per share and revenue exxon missed on revenue price of oil down a fractionly the oil stocks are trading up chevron up two 1 4 exxonmobil up 2 1 4 percent european markets like this innees ft 100 showing a decline 32 cac quarante in paris down 12 dax in germany lower by 73, in the asia overnight, red across the board, the Chinese Markets continuing to sell off, after xi jinpings third term and Peoples Congress he pointed him dictator for life hang seng down 3. 6 shanghai composite down two and a quarter hong kong stocks lowest level since 2009, in japan, the nikkei average was down a fraction, the bank of japan left Interest Rates unchanged overnight mornings with maria is live right now. Well President Biden completely inaccurate about the price of gasoline when he took office, watch this. The most common price of gas in america, is 3. 39. Down from over 5 dollars when i took office. Maria no, not really, regular gallon of gas was 2. 39, on january 20, 2021 when joe biden technique he was much higher than where it was when president started his term joining me right now florida congressman member House Armed ServiceCommittee FormerGreen Beret CommanderMichael Waltz al great to see you he president keeps spewing out Information Energy policy has been focused, on cutting fossil fuels in fact pushing Climate Changes agenda but president misleading on the price of gasoline why do you think that is . Maria, i think he has an absolute credibility crisis lost all credibility with American People that is why you see his numbers where they are you are about to see a red wave midterms his entire presidency standing before the afghanistan was astound being success trisht in addition gas prices down on his watch that credibility crisis leading to his numbers i am watching very closely the cost of diesel, because, that is what you need to fill up, a semitruck, it has gone from 3. 50 to 400 dollars over 1 now one of the biggest drivers of inflation as long as progressives are driving his Energy Policy inflation is going to be where it is because everything has to be transported. Maria i am glad you mentioned deal Dagen Mcdowell has been talking about deal for about two years we are seeing the impact of this policy, on diesel i want your take on Foreign Policy and why this president refuses to keep china to account hold china and communist party to account with rather to the origins of covid19 yet to bring up origins of china 19 we know china wont allow Investigation SenateGop Committee out with explosive report saying covid19 was most likely result of Research Related incident in have china it was not a natural transadministration of advisers from animal to human, as democrats and white house tried to get us to believe this study showed earliest due to doubled biosafety procedures that led to wuhan how should u. S. Be responding why wont this president push xi jinping on allowing a true investigation so we can get to the bottom of it . And perhaps make sure this doesnt happen again . That is the scary thing maria, in the house of representatives, the democrats all this time, all of this money, all this damage to our economy our kids, and the health of the American People have had zero hearings, in the house. On origins of covid, they just you know have their collective heads in the sand on it including the president , i dont expect him to raise it with chairman xi, in the upcoming g20 meetings either. And the problem is the last three pandemics have come from china, every won was far more del than the last one we have no reason to believe that next one wont come from china we know gameoffunction research is still happening over there, possibly, with taxpayer funding. U. S. Taxpayer funding were going to shut this down maria we are going to investigate it, we do in order to stop next pandemic we have to understand fully where this one came from, republicans phillip the house and senate we are going to get to the bottom of it. Maria this is a very serious because as you have said many times, Chinese Communist party is perhaps the same biggest threat to america, and our way of life, and democracy and freedom. And you have to ask the question is it because this president is compromised in because of all the money that he and family have taken in from chinese officials . We new bank records this morning show Chinese Energy firms cefc powder almost 112 Million Dollars into drink venture with hunter biden first sign his uncle jim biden used to pay them 6 figure salaries hefty bonuses we know infamous email the big guy emile negotiations about who get how much equity on that it says 10 held by h, for the big guy weve been told by boney bobulinski others partners of hunter biden the big guy was al referred to as joe biden congressman how are we supposed to trust this president is going to act on best interests for the American People when he may be compromised from millions of dollars accepted from the Chinese Communist party . Yeah, maria just to add to your previous point on the pandemics, we know, through Chinese Communist party military writings that biowarfare gene editing, a key part of strategy, Going Forward and we also know that the Chinese Military was connect conducting research at Wuhan Institute pompeo John Ratcliffe unclassified that before they left office, to your point, on the president , look. We know it is a part of Chinese CommunistParty Propaganda also their strategy to compromise the family members of key individuals in, other countries around the world, they call it elite capture through the sons, we have every indication not only happened in the past but that is the case right now. If that is the case that is one more thing we have to get to bottom of as republicans, that were going to investigate, and we got 11 days fog maria until we can start getting to bottom of these issues. Maria well i would recommend viewers look at John Ratcliffe oped how do drag shoes advance u. S. National security how administration is pushing this woke ideology on the world, at the expense of american values, even in our department of defense, im sorry when i think of our defense, i would like them to focus on readiness not focus on woke ideology, i mean you are a former green beret how do you see it . Yeah, we are running around the world preaching esg worried about drag shows, and obsessed with dei diversity equity inclusion, meanwhile, the Chinese Military on access with hypersonics, building aircraft kaerz, nuclear feet building a navy larger than ours preparing what i think a matter of when not if they take taiwan in move word to global domination one more thing we have to fight 345r. Were in the fight. Maria i still have not heard a peep out of this administration about support for the iranian people who are ono on the ground in iran right now, protesting the Supreme Leader iran top military commander blamed antigovernment protesters for deadly isis think about killed 15 look at people in berlin iranian protesters, regime promised to punish anybody who threatens Public Security congressman. What do you wants about what is going on in iran right now . Sources tell me iran deal is dead, but the administration, doesnt want to say it yet because it will acting oil prices can we still pursue an iran deal and not support the people of iran at this moment in time . I dont see how this administration as badly as they want to believe me so desperate for a deal, it is scary. But i dont see how they do it i at this point, we even havea americans in daytona florida in my district showing support, they can do it people in berlin brave women in iran and around the world are standing up for their freedom we get he zero zilch, nothing from this administration they have the worst record on human rights of any modern presidency from the border to seaning iran, afghanistan what is happening to girls there worst human rights record any of modern american presidency. Maria all right congressman we will be watching, 11 days away from midterm elections we away from midterm elections we will be watching, all of this thank you, sir. Congressmae n Michael Waltz in florida. Well be right back. Carl. Does your firm offer personalized index investing . Hmm . So i can remove a stock that doesnt align with my goals. Im a broker, not a barista. What about managing gains and losses to be more tax efficient . Not a wizard either. Looks like schwab personalized indexing can. Schwaaab learn more about personalized indexing at schwab today. What if there was a community of like minded people ready to support you when you need it most . Christian Health Care Ministries is an organization with over 40 years of trusted care who understands the importance of family. A group that sees you for who you are regardless of your health history. Offering valuesbased Affordable Health care Cost Solutions for people just like you and me. Learn more today at your chm. Org about healthcare that puts you in control. World series yesterday the 30year fixed rate Mortgage Rate exceeded 7 for the first time in 20 years, telling clients this morning, about the midterms affecting the housing space, saying that first time home buyer tax credits will likely be off the table after midterms funding for Housing Construction not likely, and that sees no expectations for ending Fannie Freddie conservatorship joining me chairman ceo of wutcoff group thanks so much for being here. So that my pleasure, maria great to see you, too,. So will you assess the market for us steve . Weve been watching 7 Mortgage Rates and how it impacted residential housing, Housing Starts not good you are a landlord a Real Estate Investor how do you characterize the market. I think it is weak. And, less about the rise in Interest Rates, than it is about its affect on Capital Markets the United States, liquidity always drives pricing were in supply demanded crisis in Housing Market, a rise in Interest Rates, is only going to make that condition longterm we have less inventory than we need always only going to exacerbate that condition long term. So what should you be doing then is now the time to invest in real estate . Or do you want to wait for valuations to get even better . I have this exact discussion yesterday with President Trump. We were together in the morning, and we talked about having to see through this crisis today. Leadership counts today, there is not much of that, it is very concerning to people like me. Maria so what do you think rates where do you think rates go from here . Were expecting another fed hike on tuesday and wednesday next week, fed meets already 7 Mortgage Rates what is your expecting as expectation. I think my expectation that is they raise rates but here is what they dont till what they dont tell you is that and i speak just in my industry we have a housing shortage out there in Single Family home area, also multifamily. And, now you are not going to see enough building you may see someone like me build but most wont build, you cant get mortgage construction mortgage financing today, so longterm all that you are doing is perpetuating a problem, i am not saying that they have many choices. They really dont, i get that you have to raise rates in the face of some of these inflationary statistics that are coming in but it sort of begs the question should we not be looking at past administration and conditions that existed then weve an independent Energy Policy, we had the most efficient Capital Markets that we have ever seen, out there. And we were talking about onshoreing manufacturing. Ye we were going to be independent from the rest of the world, that is completely reversed. That is no longer the case we are waiting on more stats this morning on inflation, we will get september pce, personal consumption expensive one of the feds favorite metrics personal income spending also out ahead of next weeks fed meeting tuesday and wednesday, steve do you see any letup in inflation . I know that the cost of construction, materials is also been a factor here, even if they are off the highs, of the last year, there is still elevated levels; right . They are, but i think out is coming down maria, you know. You know christian and i own a home horse ranch in kentucky, we go often because we love the state love the people just something very nice about the whole Value Package that you see when you meet people there, you can see the bite we go to Farmers Market every sunday people drive 200 miles everyday to sell vegetables, and they are getting killed at the gas pumping cant raise their prices for what they are selling. So i think the prices are coming down because there is a real bite when you turn on business programs, you listen to fed governors i to me feel like as if they are tonedeaf, we have as supply and demand problem out there that created this inflation that is what we have. We came out of covid. Thank god. And demand exceeded supply because they threw so much money at the American Public. That is what needs to be addressed. Maria i am glad i mentioned the supply part of this because that is what we want to focus on you will be joining us for allstar panel coming up to talk about inflation data, stay with us, Steve Witkoff, and well be right back. Dad, we got this. We got this. We got this. We got this. Life is for living. We got this. Lets partner for all of it. Edward jones then i got the dexcom g6. I just glance at my phone, and theres my glucose number. Wow. My a1c has dropped over 2 points to 7. 2. Thats a huge victory. Thanks to avalara we can calculate sales tax on almost anything, anywhere, automatically. Avalarahhhhh. What if tax rates change . Ahhhhhh. Filing sales tax returns . Ahhhhhh. Managing exemption certificates . Ahhhhhh. Business license guidance . Ahhhhhh. Does it connect with accounting . Ahhhhhh. Item classification . Ahhhhhh. Crossborder sales . Ahhhhhh. What about . Ahhhhhh. Ahhhhhh. Do you have those budget markups . Thank you. Mmhm. 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