tv Mornings With Maria Bartiromo FOX Business April 2, 2021 6:00am-9:00am EDT
did not comply with former president trump to find the vote that he believes would've overturned the election david. by the way, governor kemp is going to be on evening edit cheryl: good morning, i'm cheryl casone. i'm in for maria bartiromo. it is friday, april 2nd, top stories at 6:00 a.m. eastern time. jobs in america, march job's report out later this morning. we will get a look at the rebound in labor market. we expect to see it. christians around the world marking good friday today. markets are closed for the holiday, stock futures are trading because of the job's report and higher ahead of the report as you can see dow futures up 49, s&p up 10 and 3 quarters. we will bring you the job's report, 8:30 a.m. eastern time this morning. this after the s&p 500 hit an
all-time high, finishing above 4,000 for the first time ever yesterday. markets were driven by big technology and energy stocks. and to asia overnight, green across the board. shares in japan seeing biggest jump, nikkei jumping more than 1 and a half percent. kospi and shanghai composite higher as well. president biden's 2 trillion-dollar infrastructure plan facing a tough battle in congress. republicans criticizing the tax increases and even some democrats now say the massive package, it's not enough for them. mornings with maria live right now. ♪ ♪ ♪ cheryl: good friday in new york city. some of the top stories we are
watching for you this morning. georgia's house of representatives voting to strip delta airlines of a multimillion dollar tax break. this moves comes in response to ceo's recent criticism of the state's new voting law. the tax break for jet fuel reported $35 million a year. georgia state senate has not brought the measure up for a vote. president biden holding his first cabinet meeting after unveiling his more than 2 trillion-dollar infrastructure plan on wednesday. transportation secretary pete buttigieg defending the green job push after receiving criticism for it. senate leader says the gop will fight the plan every step of the way, 25% of the package goes to basic infrastructure. well, fda planning to probe what happened to 15 million doses of johnson & johnson vaccine that failed to meet quality standard. an investigation could be heading to emergent
biosolutions, the baltimore plant where the vaccine was made. reports are showing that the lab was cited by officials. j&j slightly lower. markets not open today but we could see all the stock is monday. the centers for disease control preparing to release new flight guidelines for vaccinated americans as orline industry has asked for updated guidance as more people plan a summer get away. new rules may come as soon as today. well, the march job's report is out this morning despite markets being closed 1:30 a.m. eastern time, economists are expecting 647,000 jobs added to the economy with the unemployment rate ticking down to 6% from 6.2%. joining me now ever plus capital director jason and also joining the conversation all morning
long, assistant editorial editor james freeman and former economic adviser to president trump steve moore. gentlemen, good morning to all of you. big market today despite the fact that markets aren't going to be open. i want to talk about what's going on in particular with the markets and jason, to you first, we saw the names like technology names and consumer names really powering the s&p higher yesterday but tech i thought was the big worry. why the change? >> well, fundamentals are still here for dare i say everything but when you have such incredibly powerful index like the nasdaq, you know, taking massive corrections just because of the momentum got a little out of hand, there's still you could say value in these fast-growing technology stocks especially with infrastructure spending and especially with the economy coming back and things opening
up again, obviously technology is not going anywhere. even with the nasdaq being higher pe-type index, you are still seeing invests or find value in what was a pretty big pullback. cheryl: one thing that surprise me especially s&p, the short amount of time to jump, 234 trading days and that might seem a long time from someone watching at home but it's a short time, does it make you worry that the market is ahead of itself? >> well, this time it is different. i know that you're not supposed to say that with things in the market. this time it factually is very different. we have never before at any point in time seen trillions of dollars from one government come to people's pockets. come to the market and come to the industry. it's a different time, low interest rates. trillions of dollars not coming from the fed but from the government to support the economy. so that's really why you see the
s&p above 4,000. cheryl: stimulus, vaccinations, the services sector starting to open up. we will get more on that later. james freeman, we are getting first quarter and looks poised to keep going. >> yeah, there's no reason it shouldn't be a gate year. obviously the end of the virus, the vaccines, reopening all of that stuff, you mentioned the fed has put a lot of money into the system. washington keeps spending but i'm wondering at what point do the tax increases on the table and the government dead burden and the misallocation of resources start to change investors sentiment. cheryl: jason. jason: gosh, as i've been saying for months now, guys, you know, one thing -- first of all, there's always the x factor, let's not ignore that. it has to be said and we have to
be prepared for that. 24/1. number 2, the things that we always need to be aware of is these rising bond yields, okay. the fed can try to throw billions of dollars in yield curve control, et cetera, but the reality is the bond market is independent in the sense of the fed. the bond market will do what it will do so if we continue to see these yields trend higher to try to, you know, kind of fight investors exposure to inflation and encourage people to save more instead of speculate like crazy, rising bond yields will hurt the stock market and it will hurt the housing market and -- and it will hurt kind of this bubble-type of environment that we are seeing which maybe is not a horrible thing. cheryl: secretary janet yellen had talked about that. steve moore, get in here. steve: hi, good morning, i agree with what james was just saying and you would expect in normal times for those bond yields to continue to go up as we continue
to see the fed and the government and the fed flush the economy with money and now the treasury flushing the economy with bonds. and the question i would ask is, where is the inflation? if you look at commodity prices, you're not seeing big increases, you're really not seeing huge inflation or expectations in the yield, we expect inflation but we don't see a lot of it right now. what do you think explains the paradox? cheryl: it's true. jason. jason: first of all, i am not quite sure 100% in agreement with that. sometimes inflation takes time to seep into the system because of the supply chain, et cetera. we are not seeing cereal going up 25% in wal-mart the next day. let's keep in mind. the prices have rallied like crazy. silver is in the mid-20's, i think silver can continue to go
higher. soybean, corn, oil can go to freaking 100. inflation can time to seep into the system which is why the market always looks ahead. you see the 30-year bond has gone up significantly over the past 90 days. just because inflation is not here, gas is not $8 a gallon, doesn't mean that it's trending higher, which is. cheryl: you actually have oil despite the fact that there's a boost in production from opec plus, you still have oil trending almost 4% to the upside which is interesting, i think that's a demand story. let me ask you about this. the infrastructure flan, there's good and bad, we will talk about it in the morning. there's a push for electric vehicles and electric vehicle batteries obviously. they are allocating 174 billion for the industry while the companies, though, i have to point out, jason are in china. jason, do you expect further growth in the sectors as we start to battle it out over infrastructure and what it's going to be into the summer, are
you making investment plays on that? >> you know, it can be tricky. it doesn't have to be. the way that it doesn't have to be tricky is you get broad exposure viaen etf, lit and make it easy on yourself if you really want to feel that there's modern current hip investor and you're doing lithium investments, don't try to pick horses in this race. just pick everything and the way you pick everything is etf. picking individual companies is too risky at this point. yes, we've had a big pullback, yes, there's massive tailwinds to the overall industrial but kind of like the cannabis bubble years ago. if you try to pick one, you go to zero. if your interested, get broad exposure and you will do okay because there's massive government spending tail winds in the industry. cheryl: there's always a play no matter what you feel politically, there's always a play on how to move forward when government spends this much
money which we will debate in a little bit. jason, thank you very much for being here. good to see you. coming up crypto going mainstream. paypal becoming the latest company to normalize digital currency. are more companies going to follow suit? we will get into that. the next hour, former u.s. immigration and customs enforcement director tom homan on recent trip of the border and what officials are telling him about president biden's handling of this crisis. then to the 8:00 o'clock hour, texas attorney general ken paxton is here to talk about his battle against the administration's immigration policies which are having a major impact on his state. and it is job's friday. jobs in america. our special coverage of the march job's report that's going to be at 8:30 a.m. eastern time today. don't miss a moment of it. you are watching mornings with maria live on fox business.
♪ ♪ ♪ oh, i invested in invesco qqq. a fund that invests in the innovations of the nasdaq-100. like next gen 3d rendering software. you don't have to be an advanced graphics architect to help realize a more vibrant future. become an agent of innovation with invesco qqq. ♪ become an agent of innovation with invesco qqq. i have the power to lower my a1c. ♪ because i can still make my own insulin. and trulicity activates my body to release it. once-weekly trulicity is for type 2 diabetes. most people taking it reached an a1c under 7%. trulicity may also help you lose up to 10 pounds and lower your risk of cardiovascular events,
whether you know you're at risk or not. trulicity isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include nausea, vomiting, and diarrhea, which can lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about once-weekly trulicity.
cheryl: pushback over criticism. georgia house of representatives to get rid of delta multimillion dollar tax break after criticizing new election law. new op-ed is woke and weak ceo's. that's the title. the op-ed goes after ceo's who have denounced the law seemingly with little to no knowledge of it. here is what the board wrote of it. ceo may think there's no downside and insinuate that gop leaders are racist. far from dodging political warfare they are take ago side and promoting more division, they and the companies will pay the price when the mob decides to turn on them and they need
gop protection. i want to bring in patrice, good morning. >> good morning. cheryl: until last year and really the george floyd protest around the country. ceo's in the country did their best to stay out of politics. is that changing and if it is, that dangerous? >> every so often you would have instains where certain groups would say, this is a bad idea that product is not good, you should take off the shelf and what happened after the george floyd incident, black lives matter, leveraged the power, $1.3 trillion to say if you do not give into our demands, we are going to call for boycotts in the products and our workers many of whom are working for your company, delta has 20 per f the workforce being black and they are using employers and
consumers to hold the company not as really not accountable but make them come up with the demands. that's what you're seeing with delta, that's what you're seeing with coca-cola, all the activist groups can ask that they vow to demand than to common sense. cheryl: they are going to need republicans, they are going to need gop in particular we are looking corporate tax in the country. amazon, at&t and american airlines, they are condemning texas legislation that would change state voting laws. this would limit extended early voting hours. it would ban drive-thru voting and absentee ballots to those who didn't request it. we saw going in 2020 election, patrice. what do you think of this move by the state? >> i think it's interesting. certainly some of those measures
were instituted because of the pandemic and maybe the legislature which has the absolute right to make the decisions, you know, the pandemic is on the way out, let's tighten up our electoralship. i absolutely think that you want to make sure that people can get access to voting as much as possible but you have to ensure election integrity and some of the measures opens the door to fraud. what i do say is what we will be looking forward to is what happens to hr1. you have the brands like coke and amazon and other companies saying, well, we are going to be looking at federal efforts to ensure electoral integrity but as we know, hr1 as it is it's not about integrity. it's about boosting democratic power and control in the ballot box. cheryl: which is a political fight and not a corporate fight. >> yeah. cheryl: companies are coming out and become vocal of voting rights law but at the same time, james, they are silent when it comes to the labor practices
that we are seeing in china, slave labor, the oppression of the uighurs which you and maria have talked about, i know. james: it's really not an issue that's a problem of them being vocal, it's being so wrong. it's one thing where you are seeing now panelists on cnn or msnbc mouthing this kind of leftist propaganda but to have the ceo's of delta and coca-cola, i mean, these are large organizations go in for this, they really -- they are the leaders of large organizations. they need to start acting like it. you would never neglect it from much of this horrendous coverage on other media or statements from the ceo's but in my ways the law actually expands voting. saturday voting, an extra day in terms of early voting. there's a miss propagated by the president of the united states
that polls close at 5:00 p.m. in fact, on election day anyone in line by 7:00 gets a ballot. there are drop boxes which there weren't pre-covid. so it really is just an appalling distortion of the law that's going on and so much in media and now to have the ceo's repeating the same is extremely disturbing and, yeah, i think weak is the word. i don't know why the guys running big companies feel pressured to do this. it's just so disappointing and appalling. cheryl: well, i will leave it here, patrice, last word to you and this is from james' paper. the wall street journal, the ceo's of major companies, you know, they're either uninformed at best, cowardly at worst. basically they are saying it is not their place to weigh in to politics, final word, patrice? >> i agree. it's not their place and i think they are being forced to do so
because they think that's going to earn them good points with people of color, particularly black people. and like i said before, $1.3 trillion worth of buying power in the black community is a pretty big motivating factor here. cheryl: patrice, good to see you, thank you for being here. >> thanks. cheryl: we've got more coming up. pressure from progressives. why a 2 trillion-dollar infrastructure package isn't enough for congresswoman alexandria ocasio-cortez? plus looking for love all over the world, tinder's new offer is making a buzz this morning and we will tell you about it.
...adventurous people... and survivors. it was interesting to think about their lives... their successes... and...their hardships. i think that's part of what i want my kids to know. they come from people who... were brave. and took risks. big risks. no pressure. [short laugh] bring your family history to life, like never before. get started for free at ancestry.com so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back?
you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. cheryl: first part of president biden's spending plan coming with more than 2 trillion-dollar
price tag but some progressive democrats say that isn't enough. here is new york congresswoman alexandria ocasio-cortez. >> if we are looking at ideals and what we think is actual investment that with create tens of millions of good-union jobs in the country that can sure up our health care, our infrastructure, our housing and doing it in a way that draws down our carbon emissions to help us get in line with standards, we are talking about realistically $10 trillion over ten years. cheryl: 10 trillion, you heard that right. meanwhile senate minority leader mitch mcconnell already vowing to fight the bill, the current one every step of the way. steve moore, the biden administration is already talking about a corporate tax hike. now aoc, she wants more money spent. where is this money going to come from? steve: you know, the really interesting thing is that when aoc first came on the scene a couple of ago we used to --
let's face it, she's not the smartest economist in the world but what's frightening is that her viewpoints have really carried the day with the democrats. so i take -- i no longer laugh at these lunatic ideas. the democrats seem to embrace them. when she says 5, 8, $10 trillion, i think we ought to start taking these people seriously. i mean, look, we started the year with $1 trillion in the pipeline, remember, that was left over from -- from the trump covid bill and then we passed a 2 trillion-dollar bill and then biden announced $2 trillion this week and then by the way the washington post reported they are going to come up with a second 2 trillion-dollar bill for so called social infrastructure, so if my math is right, 4 trillion, that's $7 trillion already. so they're not so far from the $10 trillion that aoc is talking about.
this is a financial physical policy. it is going to cause massive disruptions in our economy, not immediately, but there will be a day of reckoning that will cause real hardship. government doesn't stimulate the economy, it destimmulates the economy. we will find out. cheryl: i'm not sure this is going to go through. especially with the senate, they are going to have to use reconciliation. you don't have any republicans on board, james, and they can only do this so many times in the senate. this is kind of the rules of politics, if you will. so they can't just continue to do bill after bill. they may even have to combine the next relief bill that the biden administration is already talking about with this multitrillion dollar bill just to get it passed. it seems to me that that's a tough road to hoe politically. james: i don't think we are going to get to that aoc number fortunately but steve suggested, she really stressed the debate
here that spending several trillion is now not seen as unusual and just to emphasize, this is so destructive, this is essential an antiinfrastructure bill and when you remember that the private sector owns most of the infrastructure in the u.s., whether you're talking about pipelines, utilities, broadband networks, so what we are doing -- by the way, there's been a boom in trump reforms and broadband networks especially wireless building towers out. and what this does with a higher corporate tax rate and big government spending is tries to replace what businesses are doing with government action. .cheryl: sounds like socialism. eyes are on joe manchin. they are coming out to things
that they want to carve into this to get democratic support. it's not like the democrats are completely together on this. they're not and several senators have come out giving us ideas of how this is going to play out, again, this is going to go in the summer. we have a lot more coming up this morning. the deepening immigration crisis. texas congressman will be talking to us of recent talk in the border with the situation they are worsening every single day. that's coming up next. plus, baldness, the new discovery that can have men all over the world cheering, that is making a buzz this morning and we will tell you about it.
job's report later out this morning. we will get a look at the rebound in the labor market. we could see some big numbers this morning. cannot wait for that. the markets are closed in honor of good friday but stock futures are trading in particular because of the job's report and we will watch the numbers this morning very closely and how this is going to point to monday morning trading. we will bring you the numbers 8:30 a.m. eastern time. nasdaq up 33, s&p 9 and a half. again, we shall see what monday brings us this after the s&p 500 hit an all-time high last night finishing above 4,000 for the first time ever. markets driven by strength and, big-tech and energy stocks. grade happening there. taking a look at japan. that's where the biggest gains were seen. as you can see the nikkei gained more than 1 and a half percent. kospi and shanghai composite both higher as well. some of the headlines we are following this morning for you. 48 people are dead, hundreds more injured after a train
derailment in taiwan overnight. the train reportedly hit a truck that was stuck on the tracks and estimated 350 people were on the train and that included several tourists. crews are working to free those trapped and survivors were climbing out of train cars to escape. look at that. back here at home the derek chauvin murder trial resuming later this morning. george floyd's girlfriend testified yesterday telling jurors about their relationship and struggles with opioid addiction. >> suffered from chronic pain, we got addicted and tried really hard to break that addiction. cheryl: minneapolis police who was on duty taking the stand saying chauvin could have tried restraining after he quit arrest. pioneer natural resources is double point energy, $6 billion, the move coming after it
acquired shell drilling company and this will increase pioneer position to more than million acres of land, we are showing you oil, the contract is trading, the bond market open for half day and crude is up almost 4% and deer goes crashing through the window of a virginia school bus and lands on a student who happened to be asleep at the time. the deer stumbled after the seat and darted into a field. that driver had to open the doors, luckily nobody was hurt in all of this including the sleepy student who woke up. well, texas governor greg abbott putting the blame squarely on the white house for the growing crisis at the southern border. >> the biden administration's open border policies have created an open season for human traffickers, for drug smugglers, cartels and gangs.
cheryl: this as democratic joe manchin holds 90 day moratorium after visit to the border. it's past time to address immigration reform. my next guest also traveled to the southern border to see crisis firsthand. joining me texas congressman on the transportation and infrastructure committee and border security caucus, co-chairman brian bavin congressman, good morning. the video of the two girls thrown in the wall were so upsetting for so many americans and everyone including the white house made comments and this made me wonder what we are not seeing at the border. we have video of this. we have reporters going down to the border, maria bartiromo down at the border, that we couldn't show but what about what we can show americans? >> what you can't show americans is the unbelievable humanitarian crisis that's going on down there. you got a glimpse of it when the two little girls were tossed over a 14-foot fence and the
coyotes run away after tacessing shoes behind them. it is seeing things like this that i think should be opening the eyes of america to what is happening down there. this isn't a challenge. it's an all-out assault. it's open borders. it's an enabling of the cartels. it is joe biden and the democrat party open border policy. they did away with some great policies of the trump administration. he certainly had a crisis on his hands in 2019, but he solved more than any presidency i've seen before. he solved those with programs like remain in mexico, with the title 42, public health restrictions especially during the pandemic that it was very effective and, you know, i appreciate joe manchin coming down and taking a look at the problem. i appreciate his moderate
position on it, but then when you start talking about pathway to citizenship, you're just turning the glen light on again and that's the only thing to do. it is unmitigating disr,asteas ma manima wise aendnd see na nationecurity pub publicliealth, you nameuee i i i i cheryl well,l, the smuggle srsre diversvers tiovers tvers gve d r places and we w w whod ao also mention thntion thion thheiden o ediately. . . t ask you abo a stashsh houses in tex,noffic iers, t tye inting to busts b hapni i i laredo tex t t dooo know >> >>we , we -- wenonono tha - thdr cte running
human traffic through our border which fills up our -- our facilities, formerly called cages when president trump was in office and the facilities are overrun and then trying to take care especially of thousands -- we have probably 16,000 plus unaccompanied minors that are, you know, being -- have to be cared more and so they pull these border patrol agents off the line and so the cartels run the drugs through and this is where this is happening. we visited with the drug enforcement administration, the u.s. coast guard and several other enforcement agencies state and federal and i can tell you that drugs are pouring across our border during this time of the border crisis. the cartels have exploited this to the max, there are drugs, they kill 70,000 plus americans
every single year, it is a war and we absolutely are losing this war and the american people need to be told the truth about how this is happening and we need to reverse the policies of president biden and his administration and let's get the vice president down there. we invited her to come meet us at some point in our trip and itinerary. cheryl: if i was going to be the ceo of a company, the first thing i would do is the factory. the president unveiled infrastructure plan. it's a 2 trillion $package. they want to raise corporate tax rate to 28%. what is the response in washington to these proposed tax hikes, they are to use the word again overwhelming and
anti-business, being in the minority, what can republicans do, congressman? >> if they do this on reconciliation, there's probably not a whole that we can do to stop it. but we will fight this till the cows come home. this is just another tax and spend from the democrat party. they talk big, they call it names. it sound great. this is supposed to be an infrastructure bill. i serve on the transportation and infrastructure committee, i'm all for infrastructure. i represent an enormous district. it's so key to the nation's energy of supplies down in my district here in 36 in texas, but this has very little to do with infrastructure. there is some infrastructure provisions, there are some infrastructure provisions in here that i think would be good but there's so much more that i believe we are going to hinder and hurt the american consumer, the american taxpayer, prices are going up. we've already seen energy prices
escalate, you know, since biden has gotten in. the -- the lack of permitting on public lands, the repression of and continued, you know, plans to do away with fossil fuels and to institute these, implement the green new deal policies. they are going to kill texas, louisiana, oklahoma, new mexico, pennsylvania, north dakota, there's so many states that rely on -- on fossil fuel industry for jobs and revenues. this will be a -- a very bad thing for the american people in the long run and i hope that tht they are as skeptical as i am. cheryl: we know the fight will continue for months and you're right about being the job killer in the industry. congressman brian babin, great to have you on this morning.
>> have a great day. cheryl: thank you, you as well. we have a lot more coming up. paypal's crypto move, how the company is normalizing digitalizing for the customers, should you too? plus a global love connection, the tinder feature that can help you find love anywhere. that's making a buzz this morning. you're watching mornings with maria live on fox business.
i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis. and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes
cheryl: paypal using latest company to use crypto currency. going to be available to use to 29 million merchants through online payment system. bitcoin foundation chairman and philanthropist brock pierce. >> good morning, cheryl, thank you for having me. cheryl: what does this mean for the future of crypto currency. we have seen more mainstream players get in particular bitcoin like elon musk and now paypal joining in. this seems to be another notch of legitimacy, if you will. >> absolutely it is definitely another major validation point. so paypal had already gotten in by enabling their customers to buy crypto currency. what they just done now is they're allowing all of their customers to pay for things with paypal's massive list of merchants anywhere in the world and they're not charging any fee that the user can see.
they're making it in the foreign currency or exchange spread and so, again, it's a major validation point. it's not just elon musk that we are seeing, morgan stanley wealth management firm recently has now enabled their customers to be able to buy bitcoin, oldest american bank, the largest custodial bank in the world has announced that they are going to be allowing crypto custody within the bank, master card are enabling, visa last week, these major financial institutions do not attach their brands to this lightly. they spent years researching it, studying it, making sure it's real before doing this. cheryl: it is. >> another major validation. cheryl: i want to bring my colleague james freeman into this. the best way to invest in all of this, do you invest in the specific coin, do you do an etf, do you do an index, what kind of exposure does the average person should they have to something like a crypto?
>> well, the first -- cheryl: i want to bring in james freeman really quick. james: one thing that people would be wondering are you bullish on digital coins generally or, i mean, obviously you are with bitcoin but i'm wondering if you have any thoughts on the sector as a whole? >> yeah, i'm incredibly bullish on the sector overall, but it is a little bit like 1999 for those that can remember the dotcom boom, there's now thousands of them and many which will fail. when you're in a larger cap, more established crypto currency there's greater liquidity and greater safety. obviously the volatility and the returns as you move down the list are greater but the risker is a lot higher. the advice that i give anyone who is curious who wants to go out and buy $10, $20, $100 worth of bitcoin to you start to understand what's happening here. i don't encourage you to invest in this.
i encourage you to invest in yourself so you can make decisions or make investments based upon your own knowing and that's the best way to get started. cheryl: i appreciate your honesty in saying you have to do your research, we all do. i want to ask you about the coin base, the largest crypto currency exchange in the u.s. they will make trading debut april 14th on the nasdaq, what do you make of that type of way to get into crypto currency because i think a lot of people still at home are a little hesitant to get into this play? >> well, i mean, obviously this is a water-shed moment for the industry overall. it's the sec approved the listing yesterday and last priced at $68 billion. this company could end up trading at upwards of $100 billion and i think that this ipo, i think coin base going out and the values the market is subscribing to it is big part to drive in institutions to get in on this. paypal's announcement. they are hoping to pick up some
of the valuation that we seeing in coin base. you are -- if you're looking to make your first purchase, coin base is a really easy to use platform for americans. it's got a lot of security built into it. cheryl: it is, brock. so sorry, we are out of time, brock, but thank you so much for being here this morning. brock pierce. we will be right back. >> thank you. keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo
it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute.
get started today. so jeff, you need all those screens streaming over your xfinity xfi... for your meeting? uhh yes. and your lucky jersey? oh, yeah. lauren, a cooler? it's hot. it's march. and jay, what's with all your screens? just checking in with my team... of colleagues. so you're all streaming on every device in the house, what?!! that was a foul. it's march... ...and you're definitely not watching basketball. no, no. i'm definitely not watching basketball. right... ( horn blaring )
reality without leaving homes. james, what do you make of this move? james: from the sound of it, i'm not a tender user but i like the tinder passport better than the vaccine passport. this sounds much less threatening to individual liberty, but what i don't like is the fantasy part. i think lock downs should have now and forever -- cheryl: we should use our passports to get an an actual airplane. this is interesting, a new study can put us one step closer to clearing baldness. scientists at harvard finding that stress is major hair loss and honing in on a hormone that they observed in mice that could regulate hair follicles. this suggest boosting gas6, protein levels and that could impact hair stem cell activity,
steve. i'm surprised it took this long for the medical community to come up with something like this. steve: it is. i have to weigh in on this dating service, you know, meeting a girl online is in the quite the same as meeting her in person, right, so i'm not sure that's going to work so well. you know, i'm probably the last person you need to ask about baldness. you probably have to to the ask about james, i'm only kidding, james. [laughter] steve: you raise a great question, why is it in year 2021, we still don't have a cure for baldness. we got a vaccine in 9 months, why can want we get a vaccine for baldness? cheryl: that's a good question. you still have your hair and i've got mine, too much probably. james: i think maybe an operation warp speed 2 is in
order here because of promising research and needs to be fast tracked. [laughter] james: people awaiting and all sorts of other things. cheryl: i have a huge list. still ahead, we are talking about the border when mornings with maria comes right back. ♪ ♪ ♪ into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ . . . my body is truly powerful. i have the power to lower my a1c. because my body can still make its own insulin. and trulicity activates my body to release it, lowering my blood sugar from the first dose.
once-weekly trulicity responds when my body needs it, 24/7. trulicity is for type 2 diabetes. it's not insulin. it isn't for people with type 1 diabetes. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include indigestion, fatigue, belly pain, decreased appetite, nausea, diarrhea, and vomiting which can lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about trulicity.
cheryl: good morning, i'm cheryl casone, in for maria bartiromo. it is friday, it is april 2nd. your top stories at 7:00 a.m. eastern time. jobs in america, the march jobs report going to be out later this morning. we are going to get a look at the rebound in the labor markets and big expectations out there as you can see, right now looking for 647,000 p nonfarm payrolls and unemployment rate going down to 6%. we're 90 minutes away. christians around the world marking good friday today, markets are closed for the holiday. the bond markets got a half day today. stock futures are trading because of the jobs report,
they're actually higher as you can see. the dow is up 59, nasdaq up 37 and three quarters, s&p up 11 and a quarter. the numbers coming out on this program, 8:30 a.m. eastern time with our all-star panel. remember the s&p last night, did you see this? hitting an all-time high for the s&p 500, finishing above 4,000 for the first time ever. markets driven by strength in big technology and in energy stocks. now to asia. there is green across the board, trading is underway, shares in japan seeing the biggest jump, the kospi up, shanghai up as well, about half a percent. president biden's $2 trillion infrastructure plan facing a tough battle in congress. republicans criticizing the tax increase as some democrats say the massive package is not enough. "mornings with maria" live right now. and some of the top stories we're watching this morning. georgia's house of
representatives voting to strip delta air lines of a multimillion dollar tax break. the move comes in response to the ceo's recent criticism of the state's new voting law. the tax break for jet fuel worth a reported $35 million a year. georgia's state senate has not yet brought the measure up for a vote. well, president biden holding his first full cabinet meeting after unveiling his more than $2 trillion infrastructure plan on wednesday. transportation secretary pete buttigieg defending the green jobs push after receiving criticism for it. senate minority leader mitch mcconnell vowing the gop is going to fight the plan every step of the way. only 25% of the package actually goes towards basic infrastructure. the fda planning to probe what happened to 15 million doses of johnson & johnson's vaccine that failed to meet quality standards. an investigation could be heading to emergent biosolutions, the plant where the vac signs made.
the lab was cited for past violations. j&j said this won't impact the may 1st deadline to provide vaccines for all adults. j&j just announced a few moments ago they're expanding their phase two-a trial for the covid vaccine, that will include ad less onlies between the -- adolescents between the age of 12 and 17. sales for the first three months of the year up 11.3% for auto sales, compared to the same time last year, as demand is returning to pro-covid levels. this is good news for the industry which has seen a chip shortage disrupt production of many truck and suv models. that's been happening around the world. it's time for the word on wall street, top investors watching your money this week. joining me now crescent wealth advisors founding partner, jack adlin is here, chief investment officer brian andrew and
constellation research founder, ray wong. good morning to all of you. >> good morning. cheryl: happy jobs friday to all of you. brian, let's start there. the march jobs report coming out. we've got 90 minutes to go. so here's what we're looking for. economists expecting 647,000 jobs added to the economy, they expect the unemployment rate to go down to 6% from 6.2%. but i've got to tell you, brian, i've seen some pretty high expectations from some of the banks on wall street. last night into this morning. thinking this could be a blowout number today because of the february disruption with the weather. to that jobs report and to those claims numbers. what do you think? >> i think you're right, cheryl. first of all, thanks for having me. i think the number today could be a big upside surprise, to your point. i think we have expectations are pretty high for almost 300 more than we had last month but i think you're absolutely right that we could see a stronger number today. we saw a big increase in the adp report, over a half a million
jobs with a big lift in the leisure and hospitality segment of the economy, which is what everybody's looking for as we continue to he reopen. so i think it will be a big upside surprise. cheryl: i'm going to be looking at the services sector. i want to bring ray into this really quick, stay on with the jobs report. look, schools have been reopening, vaccinations are out there. you could potentially see millions of people come back onto payrolls. think of all those parents that have been sitting at home and maybe weren't working because they had to care for their children and teach their kids. i think that's going to be a play this morning, i really do. >> yeah, that definitely is a play. it's really about schools opening up, schools being able to support that. we're also seeing the fact that parents are being -- parents are asking their schools to open and hopefully that starts picking up. otherwise, -- you're also seeing summer camps pick up as well. cheryl: let me stay with the markets as well. markets are closed today. we did have a record number for
the s&p 500 last night, we hit 4,000 for the first time. what was interesting about this -- 4,019 -- was the big reinvestment we saw into big technology and those fang stocks really were a big piece of that. that was 44% of the gains for the last 1,000 point milestone which happened rather quickly, ray. your take? >> yeah, you know, a lot of folks were worried about interest rates, talking about the fact that bond yields were going up and that change was going to take out big tech. but the reality is, big tech and the fang stocks are growing at a much faster rate, growing in the 20 to 40% range. those are the anchors for growth going forward in the post pandemic recovery. you have to be in the fang stocks, have to be in the tech areas. those companies are gaining ground in each of the sectors they're in. cheryl: is there another sector that you think could be a jump in as well? >> yeah. we actually think the travel stocks, tech, and fin tech stocks are the other two areas
we'll see a lot of growth going forward. travel because of the travel related gains. you saw tsa numbers this sunday was at 60% of what they were at 2019 which is a massive improvement at about 1.5 million travelers. cheryl: the month of march was the busiest for the tsa in a year. i mean, we are seeing -- people have been locked down long enough, they're ready to go. i want to talk about inflation now. we were so worried about inflation, jack, in the first quarter. and you've got former national economic council under president george w. bush larry lindsey, he told maria yesterday that the 10-year could hit staggering heights. i want to listen to this opinion and get your reaction on the other side. >> given the size of the stimulus that's going out there, i think we can expect to see very solid growth this year, particularly nominal growth. but it's going to involve a significant amount of inflation. it's been very fast and we've got a lot further to go. by the end of the year, i would expect the 10-year to be very
close to 3%. cheryl: jack, i was listening to that interview yesterday and my eyes kind of opened up when i heard that. what do you think? >> yeah, i mean, we've run a copper gold model that has been pretty accurate in the direction and magnitude of the 10-year treasury. it's currently calling for 2.7, not 1.7, in the 10-year treasury. if you consider the fact that economists are already penciling in 7% growth for q2, 6% growth for q3 and then add roughly 3% inflation rate, that gets us up as larry mentioned between 9 and 10% nominal growth. in that kind of environment, 1.7% yield on the 10-year is just not going to cut it. so, yeah, i would agree. i think we could get very close if not through 3% by year-end. cheryl: jack, i want to give you final word on that. i know we're talking about the
risk of inflation and, again, 3%, that was a big number i heard yesterday. treasury secretary janet yellen, jerome powell, they have both signaled i think to the market and to every investor that they are watching this closely and they're not going to let it get out of control. what do you say? >> yeah, i mean, i think that's it. if you look really big picture, go back to the 1980s under volker and the rest, the fact is that the fed does have a long history of controlling and tamping down inflation. of course, back in the '80s it came at a cost of our economy and we had a pretty sizable recession as a result. but we have had 40 years or more of disinflation. so this is really going to be a new trend for a lot of people in the business. i started my career in 1982. the 10-year treasury at that time was 14%. cheryl: my parents paid 16% for their mortgage in 1982.
i'll never forget that we're not there now, that's a good thing. jack, brian, guys thanks to all of you, appreciate it. ray wong as well. thanks, guys. appreciate it. we've got a lot more coming up this morning. former u.s. immigrations and customs enforcement acting director tom homan on his recent trip to the border and what officials are telling him about the president's handling of this crisis. that's coming up next. then we've got texas attorney general ken paxton here to talk about his battle against the administration's immigration policies which are having a major impact on his state. and here we go, jobs in america. we've got our special coverage of the march jobs report, that's going to begin at the top of the next hour. and also joining the conversation all morning long, james freeman and steve moore. you're watching "mornings with maria" live on fox business. ♪
[announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪
♪♪ i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis. and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion.
cheryl: the border blame game, texas governor greg abbott pointing the finger at the biden administration for the recent surge of migrants and potential dangers at the southern border. he says while border patrol agents do baby-sitting, that provides opportunity for cartels. joining me now, former acting director of u.s. immigration and customs enforcement, former i.c.e. director and fox news contributor, tom homan. tom, good morning. >> good morning. cheryl: you just got back from spending four days in the rio grande valley. what did you see? >> i saw chaos. i said how are you handling this to a border agent, his response was it's a broken arrow. we have a surge we can't handle. we're under-manned and a lot of
the -- he says there's over 1,000 got-aways a day, based on cameras traffic that they can't respond to. they're so tied up taking care of families in the centers, half the border patrol is no longer on the line, performing their duties. when the border is half protected, that's when the drugs flow in, the gang members, the cartels are taking advantage of the humane tearan crisis, turning -- humanitarian crisis and turning into a national security crisis. cheryl: what do you make of the criticism that it was the biden administration that contributed to the crisis. these numbers surged after president biden took office. >> it's absolutely because of the biden administration. i wrote an op-ed for fox in july of 2020 saying if biden became president we will lose the border. it doesn't take a border expert to realize that all the promises he made, ending i.c.e. detention, amnesty, daca, free
healthcare, when you make those type of promises, the world wakes up and says let's go to the united states. we won't be detained, we won't be deported and we get free health insurance. the biden administration caused the surge. it's not by accident. it's by design. they want open borders. joe biden voted for the progressive left to win an election, he sold out our national security to win the election. and here we have open borders. cheryl: he did promise that, you're right. we have to remember history here. i want to show the video again. i know it's been out there for a couple days. when the border patrol agents got this video of these two young sisters, three and five, dropped over a 14-foot fence by smugglers, the el paso border patrol chief told us they're okay. their mother is in new york. my question is -- we have this on video. how many things are happening on the border that we don't have on video. how many things reporters and cameras aren't finding out about?
>> a lot of things are happening. i spent over 30 years investigating criminal organizations. they torture and killed migrants that couldn't afford to pay smuggling fees. doctors without borders did an independent study and determined that 31% of all women that make that journey get sexually assaulted by the cartels. people are dying. cartels are getting rich. the ones that celebrated the most during this election was the criminal cartels in mexico because president trump had the most secure border than i've seen. when biden made the promises, cartels geared up and said we're back in business. if this guy wins, we're back in business. they're making millions of dollars a day because of the biden border policies. cheryl: steve moore, get into this. steve: well, first of all, thank you for your service to our country and helping secure our border and it's a travesty to see what's happening right now. when congress passed the laws that said that illegal
immigrants can get these $1,400 payments, they can get free healthcare, and they can get all these other benefits, it certainly is a lure to people coming. my question to you, when trump was president, he came up with a very good pro-growth immigration reform bill for our legal immigration system but it seems to me it's going to be very difficult to get legal immigration reform done, something the wall street journal has long advocated, if we don't have a secure border. do you agree with that? >> absolutely. secure borders need to come first. we are not plugging the hole in the boat. this amnesty bill is pending, written by the democrats, it's similar to the bill in 1986. i was around during that time. they wrote a bill saying we will make you qualify for amnesty. you just have to commit a little bit of fraud. back in that time, estimates are as high as 80%, everybody that applied for amnesty committed
fraud, because they didn't qualify. that's what the 1,000 we told you about, border patrol has 1,000 got-aways, these are people that don't want to get caught because they're coming into the united states and they're going to claim amnesty. biden border policy -- there is no border policy. it's open border policy. these policies are driving the most vulnerable people in the world, putting themselves in the hands of criminal cartels, to come to the united states because they've been invited by the biden administration. actions speak louder than words. they can say don't come all they want. when they see thousands of people being released every day, actions speak louder than words. cheryl: i heard the president say he was going to deal directly with the countries where they're coming from. if you can fix ecuador, president biden, then great. if you can stop migrant caravans that way, sure. doubtful? yes. tom, thank you very much. it was good to see you.
>> thanks for having me. cheryl: we've got a lot more coming up. crime is on the rise. we're going to explore the consequences for american cities defunding the police, that's coming up next. plus, siri getting a makeover, why the digital assistant may sound a little different. that's making a buzz this morning and we're going to tell you about it. ♪ you can go your own way. ♪ go your own way. ♪ you can call it another lonely day. ♪
hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? get a quote in 3 minutes at easyaspie.com. wow, that is easy. so, need another reminder? no, no no, i'm good. uh, yes please. oh. ho ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com.
(announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me. it works, 100%. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. cheryl: the consequences of defunding the police, a fox news analysis showing several major cities which slashed police budgets over the last year have seen major upticks in crime. portland, minneapolis, new york city and los angeles all seeing
significant jumps in murders. many of these cities shifting funds from police to social services and in some cases laying off officers and canceling recruitment classes. james, your reaction to this number? you can't tell me you're surprised by what you're seeing here. james: it's tragic. defunding the police was the -- one of the main agenda items of the black lives matter organization and the results have been horrific. you're seeing in almost every major city a spike in homicides over the last year. some places like atlanta, new york, chicago, huge increases. and many of these jurisdictions, certainly new york and chicago, decided that police -- some police dollars were better spent elsewhere. in atlanta, you had protests and lack of support for policing, you had a lot of officers quit the force, choose to retire.
they are now short-handed. that's one of the reasons they're having trouble dealing with this latest crime wave. cheryl: we've had congresswoman nicole malliotakis several times. she said those communities that are suffering with the lack of police are black and brown communities. it shows that the -- go ahead. steve: you took the words right out of my mouth. the victims of all of the mayhem and the looking in the cities have -- looting in the cities, have been the low income residents in these mostly minority communities. there was a recent analysis of what happened to the real estate values in these neighborhoods and most of these are immigrant and minority neighborhoods. they have fallen. in minneapolis, in los angeles, in new york, in chicago, in
phoenix. not phoenix, portland. seattle. what do all those cities have in common? they're all cities that were racked with this violence and mayhem and nobody wants to buy property there. this is exactly what we saw by the way after the racial riots in the 1960s. it was very predictable. whites are moving out of these areas, they're depressing the values of the homes and the businesses and it's a very negative thing for the people left behind. cheryl: by the way, james, i don't know if you saw this last night in the new york post but it was an article about the exodus of real estate investors, not just are young people, everybody's leaving san francisco and new york city. they're not just leaving and saying they're going to come back. they're leaving and they're buying in other cities, other states. that's it. and a lot of them are saying it's because of crime. wasn't because of covid, james, it's because of crime. you can't be safe in a place
where you own a piece of property, you're going to get out and they're doing that. james: yeah. it's just tragic. and as you pointed out, in many cases it's the black lives more than any others that are being lost when crime is allowed to flare in cities. the numbers are staggering. you look at the increases in chicago, homicide's up more than 50% in the last year. not enough attention paid to the victims and there are victims nationwide of this insane policy and defunding police. we need police. we need them in every community. it's a fact of life. and of course as we're seeing where there is an alleged crime committed by police, they need to be tried. under the rule of law. and we need to see that justice is done. people that live in cities and everywhere else need protection.
cheryl: and the laws aren't supporting them as well. we've seen that over of and over again. it's disheartening. guys, thank you very much. we'll see you in a few minutes. we have a lot more coming up. pressure from progressives, why a $2 trillion infrastructure package that's not enough for, yep, new york congresswoman alexandria ocasio-cortez. we're going to talk about that. plus, insect emergency, the story this morning that is literally making a buzz. we're going to tell you about it.
cheryl: welcome back. i'm cheryl casone, um in for maria bartiromo. it is friday, it is april 2nd. jobs in america, here we go, folks. the march jobs report going to be out in about an hour from now and we are going to get a look at the rebound in the labor market. we are expecting some big numbers here, the expectation
647,000 nonfarm jobs added, 6% unemployment rate which would be down from 6.2%. markets are closed in honor of good friday today. but stock futures are trading because of the jobs report and they are pointing higher this morning and have actually been edging a little higher as we've been on the air. dows is up 56, nasdaq up 44 and he three quarters, s&p up 11 and-a-half. this is after the s&p 500 hit an all-time high, finishing above 4,000 for the first time ever yesterday. markets driven by strength in big technology and in energy stocks. in asia overnight, green across the board, shares in japan seeing the biggest gains, nikkei jumping more than 1 and-a-half percent. some other headlines we're watching for you this morning. police say the suspect accused of killing four and injuring another at a southern california office complex chained the building's gates shut to stop officers from getting inside. the motive behind the shooting still is unclear but police say
the suspect knew the victims and this was not a random attack. there he is. a man, two women and a 9-year-old boy. that boy dying in his mother's arms as she tried to save him. the suspect would be eligible for the death penalty by the way if convicted. well, nike winning a restraining order to block the sale of rapper little noz-x's satan shoes after a copyright came down against the rapper and the designer of the shoe, a company based in new york. nike says theshoe is an unofficn of a shoe. the shoes sold out in minutes. they were over $1,000 a pair. united airlines starting to rehire pilots, a sign they expect travel demand to increase as vaccinations go un. offers have been made to 300 pilots. the company thinks the number
may grow, depending on recovery. pilots have retired or taken sick leave due to changes from the pandemic. united will be a stock to watch on monday when the markets open. well, it is a spending showdown. president biden unveiling his massive $2.3 trillion infrastructure plan this week including tax hikes to cover the cost of the package. but progressive democrat congresswoman alexandria ocasio-cortez says the proposal is too small. instead, she wants to see $10 trillion spent over the next decade. i want to bring in democratic strategist, kevin walling and republican strategist, ford o'connell. mitch mcconnell says the package is not going to get any republican support. they're going to fight it tooth and nail. i guess the question is, am, can they? and b, your reaction to aoc's call for more spending, ford? >> well, the democrats have
never met a federal dollar they didn't want to spend, real or printed. this thing is going to get through no matter how much republicans try to block it. it's only going to get through with democratic votes but i'm going to tell you, as it's currently stepped out by biden, the 2.25 trillion will be the largest tax hike on the middle class since 1968 and if aoc gets her way, this thing is a trojan horse, less than 6% will be spent on bridges and roads and if aoc gets her way it will be even less that it spent on infrastructure. at the end of the day, it's going to be the middle class who pays for the democrats' tax and spend ways, whether through paycheck, 401-ks or the costs of goods an services which they buy once this goes through. cheryl: even some democrats are raising the red flag about the amount of spending we're talking just on this proposal, this particular infrastructure package. senator bob casey of pennsylvania said this push for infrastructure is going to prove more difficult than even getting the coronavirus relief package
passed, that 1.9 trillion, because of the questions regarding funding. how do you pay for this? >> cheryl, it's a good point. i think senator casey is right from pennsylvania in terms of the dynamics alone, facing a slim majority in the house, four votes speaker pelosi has. i have a lot of confidence in president biden and his ability to sell this to the american people. you rightly point out that the coronavirus package remains incredibly strong in terms of public support. and i think when you see joe biden out there, his five cabinet secretaries, he tasked with this, all pushing for this, i think he can bring the american people to bear on this and put pressure on congress to do the right thing. cheryl: to be clear, i don't really believe that the 1.9 coronavirus package was necessarily needed because in my view, this is just my opinion, we didn't even know where the money was going to be going from the package that was passed before president biden took office. i think a lot of that money has not been spent.
i want to see where that goes. but -- >> absolutely. it was more about your take on the slimmest majority passing that package, cheryl, than the merits of the bill. cheryl: we'll have to see. a lot of democrats are opposing this. i guess this all comes down to politics, right, ford? because reconciliation, if no republicans are on board for this, ford, that means they'll have to go to reconciliation and they can't do that over and over, ford, so this is a political -- >> they can't do that over -- they can't do that over and a over. they can only do it once a year. but i can imagine the democrats trying to change the rules. to your point, cheryl, you're absolutely right. i'm going to push back to kevin on that. when it comes to the $1.9 trillion covid package, less than 10% went to public health. in this case, less than 6% will go to infrastructure. you're going to raise the corp. pet tax rate to the highest in the world. it will be the middle class paying. the democrats like to name things, like covid relief and infrastructure. in reality, they become progressive wish lists that we
don't need and they wind up causing the middle class to pay and may lead to inflation and tanking the economy. this is the democratic way, spend a dollar every way you can and the democrats aren't going to take their foot off the gas. they believe they have two years to push us as close to socialism as possible. cheryl: kevin, respond to that. >> cheryl, i'm old enough to remember when donald trump brought republicans and democrats together to talk about his infrastructure plan that was 2 to $3 trillion. now you the shoe is on the other foot. republicans want to object across the board. i want to see ideas from the republicans, not an all-out war against this package but where can we come together and agree to some of the spending when it comes to modernizing the infrastructure. don't object whole-out. let's see republicans put forth some ideas on this and where can we come together. cheryl: i have an idea for you, this comes from the wall street journal. this is about the issue of corporate taxes. so the wall street journal in an
a op-ed rightly so, ford, pointed out -- they used janet yellen's words against her. they've had a global race to the bottom in corporate taxation. they want to put an end to that. of course they want to raise taxes. other countries after president trump passed the 2017 tax reform act, other countries actually followed our lead as a nation and they reduced corporate taxes. no other country right now, whether in europe or asia, even china, is signaling raising corporate taxes, ford, but yet president biden wants to raise corporate taxes, here we go, right back the other way, ford. >> yeah, i don't understand how you want to raise corporate taxes, when in fact we're in a fragile economy. you want to actually raise taxes on the people that are providing the jobs. i have no love for multinational corporations. but to your point, cheryl, since 2017, nine industrialized countries have actually lowered corporate tax rate. to your point, we're battling china in terms of the global economy and jobs. the fact that we have a higher corporate tax rate and they
essentially have slave labor to make products means that the american worker is eventually going to get hurt in this and wages will be driven down. if you want to hurt the working class, raise corporate taxes. cheryl: kevin, i'll give you final word. >> at least democrats have put forward legislation to pay. >> the numbers don't add up. >> let's have that debate. at least democrats are putting out ideas in terms of how we pay for it and not just writing checks to our children in terms of that $2 trillion tax package passed during the trump administration. cheryl: a lot of trillion dollar packages getting batted about. it makes me very nervous. >> me too. cheryl: i don't have kids. if i did, i would be worried about what i'm leaving them. kevin, ford, great to have you both here. >> have a great weekend. cheryl: happy easter. >> happy easter. >> thank you. cheryl: we've got a lot more coming up. beating back a force wave, what a rise in covid cases means even as more americans are getting
vaccinated. plus, siri getting a makeover, why the digital assistant may sound a little different. that's making a buzz this morning. we're going to tell you all about it. you are watching "mornings with maria" live on fox business. maria: next week on "mornings with maria," monday, migrant camps overflowing with children at the u.s./mexico border, ken cuccinelli tells us who is to blame. tuesday, china prepares its military for possible u.s. intervention in taiwan. general jack keane on what comes next. wednesday, massive corporate tax hikes, the backbone of the biden spending plan. kevin hassett crunches the numbers. thursday, dallas federal reserve president robert kaplan back with us warning a rate hike is coming, he's here with an economic outlook. and friday, wake up with the word on wall street, our expert insight on wall street's biggest morning movers, it's all right
trulicity may also help you lose up to 10 pounds and lower your risk of cardiovascular events, whether you know you're at risk or not. trulicity isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include nausea, vomiting, and diarrhea, which can lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about once-weekly trulicity.
cheryl: bracing for another covid surge, some states are reporting a rise in covid cases and officials are worried a fourth wave will increase hospitalizations, infections and deaths. joining me now, infectious disease expert, amesh adalja. good morning to you. >> thank you for having me. cheryl: what is the potential
for a fourth wave. a lot of folks are worried about this. >> we're seeing cases increase in the majority of states. what's different about this surge of cases, it's completely different than the other surges that we've had, is that they are somewhat decoupled to hospitalizations because we put our vaccine into the most vulnerable populations, nursing home residents, community dwelling, high risk individuals so we're not necessarily seeing cases translate into hospitalizations the way they did in the past. that's going to make this wave a little different and not as bad as what we saw, for example, in the winter. it's going to take some time to really move the focus away from the sheer number of cases to looking at hospital capacity and really looking at that as our gauge. in places where hospitalizations went up, in michigan, they're at a lower level than they were during the fall. very to realize we're not going to get to covid zero but we have to get vaccine into the groups where the spread is occurring. the younger people haven't had
access to the vaccine. the solution is to vaccinate faster. cheryl: what does this mean with regard to lockdowns? we've seen in the northeast we've seen kind of a steady -- basically a flat-lining of cases. we're not seeing them go down and vaccinations have been successful in this part of the country, texas and florida, those economies, those states are more open yet we're not seeing a rise in cases. talk to me about the difference here with the lockdowns and frankly did they work? >> so it's not really easy to come up with a one to one relationship with what's going on in each state. we see states like michigan where they've had strine; strint requirements have an increase in cases and places like florida that have done better than what was expected. what's happening, it has to do with what the population is doing, are they social distancing and wearing masks. how many new contagious variants are present in a given state. that also plays a role as well. but in general, when i think
about lockdowns or stay-at-home orders, i thought we need to do targeted public health, trying to figure out how people get infected and take a harm reduction approach where we try to make things safer. i think it will be a while before the dust settles and we see where different states fall. it's clear that florida did better than anybody, like i said, would have expected because they didn't have a mask mandate, because they didn't have all of those restrictions. all of us expected them to go into kind of pandemic hell and they never really did. i think that's something that we need to answer and we need to look at and understand, to understand what really works and what doesn't work. i don't think we'll see these kind of restrictions come back in the united states because our vaccine is the solution and if you look at the number of hospitalizations nationally, they're coming down. michigan and a few other states are aberrations, but i think we'll get to a point where we get control of the pandemic through the vaccine. cheryl: none of this has been easy to us and none of the answers have come easily to
anyone. you mentioned the variant. pfizer announced the vaccine shows protection for at least six months. isn't that because the people that were in the trial did the trial six months ago, so it's not that -- we don't lose protection at six months, it'ses that's all the data we have right now, is that correct? >> exactly. so what they're doing is a natural history study, following people out prospectively and seeing what does it look like at six months. i think three months from now you'll hear the vaccine lasts for nine months. this is how we accumulate the data so we can change guidance based on that. you might seize the cdc say fully vaccinated people for six months have the same guidance that they released a couple weeks ago. this is just to be expected. i suspect this vaccine is going to last probably longer than a year. whether or not it needs to be updated for variants is a second question. we'll find it has long lived immunities. cheryl: it's too soon to say we'll need a booster a year after getting our first shots? i want to ask about astrazeneca.
you had anthony fauci saying we may not need it. by the way, the u.s. gave astrazeneca doses to canada and a mexico. i mean, do we have enough? i think only 16% of america right now is fully vaccinated. >> so astrazeneca vaccine in the united states has been plagued by delays. by the time it gets to emergency use authorization, i suspect they're planning to submit to the fda within weeks, it's likely we have enough of the other three vaccines, pfizer, moderna and johnson & johnson to cover the population. we are sitting on a stockpile of astrazeneca vaccine right now. that's why they loaned doses to canada and mexico. we don't have this approved. it will take some time for the process to go. i think dr. fauci is actually right. by the time it meets the deadline and gets through the fda processes, we probably will have enough vaccine on-hand without it. cheryl: and the variants, again, you're not worried about
the variant as of now, correct, doctor? >> the variants having we have to watch and continue to track. they're more contagious. i'm convinced that the vaccines are the solution to the variants. we have to vaccinate faster to stay ahead of the variants. cheryl: thank you so much for being here. great to see you, sir. >> thank you. cheryl: we'll be right back.
cheryl: it it time for the morning buzz, first up, siri is getting a makeover, will soon feature four american voice options instead of two. the update is available in a beta version and will be pushed out to most users later this year. steve, apple says the move is part of the commitment to diversity and inclusion. [laughter] steve: i love it.
but i like the sound of siri's soothing voice in the morning. my big worry, it's not what they're saying but are they listening to our conversations at home? that's what worries me about siri. cheryl: i remember changing my garmin gps to a british woman's voice. i found it more entertaining when i was driving. i don't know. let's talk about this next story. it's a story that's definitely buzzing. kind of creepy. a new mexico man came back to his car, he went shopping, finds a huge surprise. huge swarm of bees in the back seat of the car. an offduty firefighter was called in to help out. he used a bee trap laced with lemon grass oil to get the bees out of his car and relocate them to his property outside of the city. 15,000 bees were removed from the car. can you imagine? can you imagine walking into that, you're going to get groceries and come back to find a swarm of bees in your car. james: i struggled with this
story. i didn't have my reading glasses on when i first glanced at the headline, i thought it was thousands of beers, i thought it was about the miracle of the season or a good samaritan helping a fellow season. bees, very dangerous. thank goodness the firefighter happened to be a bee keeper. what are the odds. maybe it is a miracle. cheryl: steve, can you imagine getting in your car and there's 15 beers waiting for you. steve: part of the story that's not being told, he had huge jars of honey in the back seat. [laughter] cheryl: i don't know if that's true. i'll find out in the commercial break. guys, thank you. we've got a lot more coming up in the next hour. here we go. countering the biden administration's immigration policies, we have got texas attorney general ken paxton coming up on his state's border pushback. and then here we go, jobs in america. the march employment report going to be out in 30 minutes, in three minutes -- 33 minutes.
our special coverage beginning in the next hour. "mornings with maria," we are live on fox business. ♪ [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪
cheryl: good morning. i'm choerl cheryl for maria bartiromo. it is friday it is april 2 top stories 8:00 a.m. eastern time jobs in america. 23450 the march jobs' report going to be out in 30 minutes from now, we are getting a look at rebound in the labor market this could be a big, big number expectations 647,000 jobs added to economy with unemployment rate falling 6% from 6.2% we will find out 30 minutes from now, christians around the world marking good friday markets are closed for the holiday. the trading because of jobs' report they are higher and of this been moving higher last
hour right now dow up 68 nasdaq up 44 1/2 s&p up 13 again markets opening on monday, now after this s&p 500 hit all-time high last night we finished above 4,000 for the first time ever, are markets driven by strength in big technology and by energy stocks, and asia overnight, green across the board there shares in japan saying they jumped nikkei jumping more than one and a half percent korea kospi up more than 3/4 of a percent shanghai composite up more than half a percent "mornings with maria" with with live right now. >> top stories this morning, georgia house of representatives voting to strip delta airlines of multimillion dollar tax break in response to ceo recent criticism of the state voting law tax break jet fuel worth reported 35 million dollars a year georgia state senate has not brought that up for a vote, president biden hold
first cabinet meeting after unveiling more than two trillion dollars infrastructure plan transportation secretary pete buttigieg domestic violencing the green jobs push after receiving criticism for mitch mcconnell, gop will fight every step of the way, only 25% of the package actually goes towards basic infrastructure. >> the fda planning to probe what happened to 15 million doses johnson & johnson vaccine, failed inequality standards could head to emergent bisolutions plant where vaccine is being made reports show lab cited for past violations, jnj said not impacts convenience for all adults. >> centers for disease control preparing to release guidelines for vaccinated americans this comes as airline industry has asked white house for updated guidelines as more people plan a summer get away rules may
come as soon as today. >> well investigating cost of the border crisis next gus uncovered hundreds of millions dollars of texas tax pairs dollars on illegal migrants every year this includes millions for he migrant health care, housing, and education, this is all part of a january lawsuit asking to halt biden administration deportation frees i want to bring in texas attorney general ken paxton leading the effort in that state mr. paxton good to see you, sir. >> good morning. cheryl: talk to us about what you found when it comes to the cost not the emotional cost forget that in texas but financial cost that is happening. to your state's residents. >> we've known for decades this illegal immigration -- effects hundreds of millions of dollars we put money in to help -- we are required to educate people who come here required to take care of -- we
have to deal with law enforcement issues we put information together, and pretty conservative estimate about 865 million a year, probably low, so it is i don't think surprise for americans texas to know costs a lot of money that is state of texas not including the entire nation. >> this is going on you are a border state immigration crisis border crisis happening be honest for decades. really picked up in 089's to be frank here, so this is something texas had to deal with for the last you know, 30, 40 years what can change, now if it in particular you've got biden administration president biden blocking your efforts? >> yes, so, we saw what happened particularly got worse during obama administration with all immigrants from central america open invitation to cross borders discouragement blocking with border patrol told not to do their job we saw what actually worked in the trump administration, not
that it was perfect but improved dramatically building the wall encouraging border security to do their job, policies now changed back to obama era policies clearly not working they are clearly, meant to open the borders, and that those costs are borne by citizens of texas and citizens of the united states. >> i want to ask about new report about stash houses in texas new report came out, says that since october agents increased busts on stash houses housing illegal immigrants a lot in laredo on border jump 400%, year-over-year what do you know about that? >> yeah -- not surprising at all i think absolutely true that, of course, more -- on border than in stash houses, not surprising at all. if if you -- president biden
did said you can come to country we are not going to deport you first 100 days you end up all all kinds of problems along with costs just the risk of higher disease covid coming across into our country, and also just the law enforcement costs drug trafficking we know is that going on cartels are benefiting but not benefiting american people i don't think they are even benefiting migrants so much risk associated with coming, benefiting cartl. >> we are finding out cartels using tiktok videos, little girls thrown over a wall talk about, you know the biden administration, you announced last month, this multistate complaint against the administration, for revoebing keystone xl pipeline permit important to texas arguing pour the reject permits across the borrowed to congress not
president biden tell us about the lawsuit where are we right now. >> well, we have -- administration leading montana 20 other states, and this is an important just for texas it is important for entire nation several reasons one jobs jobs, high-paying jobs that are created across the country also, helps with energy independence if dependent own iran iraq countries may not be a friend also an opportunity for us to provide more jobss to people in the country, so, we know lawsuit is legitimately based on the law congress passed it, they allowed for it, the biden the obama administration, didn't do the right thing the trump administration did authorize it we all think president biden has authority to step back. >> keep us updated i want to ask you about corporations amazon at&t, dallas based
american airlines limits extended early voting hours drive through voting banned, he, your reaction to corporations, basically fighting back against you? >> yeah, it is really -- i don't -- to defend it i think correct to defend texas voter laws try to make sure taxpayer credible not cheating going on we know large scale mail-in ballots there is high degree of fraud interesting that many countries focus on security themselves american airlines one of them southwest another criticize it but very much making sure they -- the integrity of elections fundamental democracy, we've got o texas senate hopeful texas legislature cares about making sure we have elections that people can trust. cheryl: all right before i let you go i want to ask about
infrastructure, and the president, infrastructure, plan, there is a concern, i know, among energy executives are in your state that this is going to hurt jobs in the state of texas, as there is more push towards green jobs, your reaction. >> yeah, i am concerned about that, too, look. i am worried about energy independence green energy is developed on certainly in favor of being developed down the override, we need to continue to rely what we can bridge with other states before we give up doing that need to make sure that we have resources available, to american people we are not depending or foreign countries. >> attorney general of texas ken paxton great to see you, sir happy easter. >> happy easter, thanks so that governor cuomo under pressure how new york lawmakers helping those were
information come forward, to speak out against him, plus, we are now 20 minutes away from you march jobs' report we are going to break down everything you need to know, are we going to get, a big surprise 8:30 a.m. eastern time in -- some domesticates say severe joining the conversation all morning james freeman, and steve moore playing a big part in jobs coverage you are watching "mornings with maria," live, on fox business.
there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? sure! get a quote in 3 minutes at easyaspie.com. that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com.
cheryl: the new york state assembly opening up a tip line for people with any information related to the investigation into governor andrew cuomo saying investigation into and an far beyond sexual harassment claims misuse of staff, of course, nursing home, new york city mayor bill de blasio convenes assemblyman kemp blasting, derosa over
allegations she helped write the best-selling memoir during pandemic. >> i digress, your reaction to all of this i mean, just i can't believe he hasn't resigned to be frank. >> tip line sounds useful because there are many cuomo alleged offenses to investigate but you wonder what more do they need to impeach. we have very good evidence, that his policies killed hundreds perhaps more than a thousand people and he lied about it. obvious there was -- judges found team cuomo violated freedom of information law with cover-up. looks like getting staff to write book violates public officers law you've harassment aelgz i am not sure what you you could present at this point to new york legislators
to inspire them to act. cheryl: hypocrisy i think disgusting especially with derosa do you think should step down maybe she is going to be the fall guy -- gal -- if you will. >> i -- thinking back remember six to nine months ago, democrats said cuomo was the one; right? the superstar of their party for the way he handled covid a joke he is responsible directly or indirectly for at least a thousand deaths in nursing home. i am with james i don't understand new york politics how is this guy in office my goodness the other thing now on the other side of the country superstar democratic party supposed to be newsom being going to be recalled good chance cuomo has to resign or being impeached not good examples of leadership.
>> james final word new york politics never ceases to may have me, the impeachment statute in new york state is actually lower than the federal one in terms of doesn't even demand high crimes and misdemeanors the fact that the nursing homes scandal cover-up isn't enough to eject him from office is astounding. >> a republican would be completely different conversation, stay with me we've got a lot coming up minutes away from the march jobs' report we are 13 13 minutes to go stay with us we will be right back. yes! hey ava, how's my bracket looking? this is gary, i invested in invesco qqq.
a fund that invests in the innovations of the nasdaq-100. like this artificially intelligent home system. become an agent of innovation with invesco qqq. ♪ as someone with hearing loss i know what a confusing and frustrating experience getting hearing aids can be. that's why i founded lively. affordable, high-quality hearing aids with all of the features you need, and none of the hassle. i use lively hearing aids and it's been wonderful. it's so light and so small but it's a fraction of the cost of the other devices. they cost thousands less. it's insanely user friendly. you take the hearing test online, the doctor programs in the settings. you don't even need to go into an office. they're delivered to your door in a few days and you're up and running in no time. it connects via bluetooth to my phone.
you can stream music and you can answer phone calls. the audiologist was so incredible she's full of all kinds of little helpful hints i love it. they're a game changer for me. i feel like i can take on anything. it feels great to be in control of my hearing. better hearing has never been this easy. try lively risk-free for 100 days. visit listenlively.com
(woman) why can't i lose weight? (announcer) you may be suffering from insulin resistance. measure your waist. females measuring more than 35 inches and males measuring more than 40 inches may have insulin resistance. to learn how to reverse insulin resistance and lose weight effectively, go online to golo.com. once again, that's golo.com. . >> we are less than mine minutes from march jobs' report economists expecting 647 though jobs added last month unemployment rate falling to 6.0% we think, break it all down u.s. bank wealth management achieve investment officer eric friedman johnnie, peter at "the wall street journal" john hillsborough good morning to all of you james freeman with me steve moore so let's start with you first, obviously,
this is going to be a key report to look for, we have those february winter storms ining the job market is this the minia jump back? >> yeah i think we do get a jumpback not just because of the storms but also because covid is receding vaccines getting out there, cities, states starting to open, and i think you know we are going to get big numbers, i think we are heading towards a boom in the economy this summer. and i think, after 8:30 all of us are talking with steve moore leading the way about why do we just have 1.9 trillion dollars stimulus for economy that is -- >> talking about that we are way ahead i have this morning, you know what eric i want to ask you about i have seen some very bullish, bullish economists estimates from here on out we're getting a million jobs a month. >> probably a little high cheryl, i think the baseline for us probably higher than
current expectations i think about 650, 675 would wouldh we would be a little higher key thing to keep in mind in addition to winter storms you had two major states reopen in the course of the last since last jobs reports namely texas and connecticut so to the point lots of vaccine progress, lots of inservice business across the country a differential so i think there is probably a bias to upside this is a number i think arrived we are very optimistic. >> what is top thing you are looking for this morning. >> i think i want to see what is happening with labor participation. probably to jon hilsenrath's point, with the stimulus money i can tell you from the front line we are having a difficult time getting people back to work, there are certainly more jobs out there than there are people willing to take those jobs, to show up for work, so labor participation is going to be really important, also
seeing if women are coming back into the workforce, that is still a challenge as well we will dig into that. cheryl: digging into all of it everybody stay right there the march jobs' report is going to be with us right after the break you are watching "mornings with maria." breaking news coming up. n spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over,
leonard is coming back. ♪♪ ♪♪ ♪♪ ♪♪ i have the power to lower my a1c. because i can still make my own insulin. and trulicity activates my body to release it. once-weekly trulicity is for type 2 diabetes. most people taking it reached an a1c under 7%. trulicity may also help you lose up to 10 pounds and lower your risk of cardiovascular events, whether you know you're at risk or not. trulicity isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy.
serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include nausea, vomiting, and diarrhea, which can lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about once-weekly trulicity.
cheryl: welcome back i am cheryl casone for maria bartiromo. it is jobs friday, it is april 2, the march jobs' report is out in less than two minutes we are getting a look at rebound in labor market, markets are closed in honor of good friday but stocks future trading because of jobs' report we are pointing higher this morning we shall see what that brings us asia overnight we did have green across the board about shares? january biggest gains, all right all-star panel 90 seconds james your final thoughts before we get march jobs' report. >> yesterday, iff nfib report
on small business showed record high number of small businesses that had open positions they could not fill in march. so related to what joanie was talking about labor force participation jobs are there, are there workers welling to fill them is the question. >> steve to that point making more money at home unemployment benefits biden administration extended than if they went back to work. >> it is going to be a big problem joanie is exactly right about that we are now paying, people, about two-thirds of the unemployed making more money to stay unemployed than making in old jobs, problem next job six months getting workers back on the job. cheryl: joanie we are bringing you back into this again, that may be key data that we see we also think we are seeing a big jump because of the weather. >> yeah, you know cheryl i think the issue here, though is to look into what is happening with wages, because we do see employers are
increasing wages, trying to incentivize people to come back to work, so eventual you know is that going to impact you know companies' profits having to pay more, to fight the stimulus to compete with stimulus so wages see what happens there on hourly wage. cheryl: jon to that the point fed looks for when it comes to inflation, they gaming inflation by wages number that we get, and we are seeing things -- let's see we've got edward has the month we are seeing it here as well edward. >> cheryl, the economy added back 915,000 jobs unemployment rate as expected went to 6% if you look inside some of these numbers here you can see employment transportation warehousing added, jobs, manufacturing raising 53,000,
construction, added 110,000 jobs, in march, the unemployment rate, talking about unemployment in services like, social assistance added 25,000 jobs o wholesale trade increased 24,000 retail trade added 23 jobs, employment in mining rose 21,000, so again overall a big boost to this report, 960,000 jobs added back to the economy unemployment rate down 6% i am going inside some numbers and get more for you. cheryl: i want to bring you back in joanne courtney march labor forcing participation rate 61.5%. >> yeah, you know cheryl this is still you know, almost a 50 year low, we were already challenged with labor participation before the pandemic ever occurred. this is something we talked about, you know we were having a struggling getting people back to work, we were having a
struggle getting women back to work the pandemic set is so far back now with stimulus money, it is not incentivizing people to come back to work, so that participation is truly an issue, and i think that -- they need the talent just james freeman was talking about small businesses, they are struggling, to get people back to work, they have the jobs, they have they have the work, we are trying to get our economy back on track. but we have a problem, a big challenge in the united states with getting people to participate in the workforce. cheryl: i do want to -- >> i don't see -- >> get that -- stimulus. cheryl: i'm sorry. >> -- >> to talk over you i want to -- reminder markets are closed but we did see a jump in dow
futures when this number crossed, brought numbers to us dow up 113 right now noose deck up 16 s&p up 18 bond markets open a half day you could see reaction in bond markets i do want to point out we did see a jump james freeman in dow futures as well also looking at revisions that are just crossing here they did do, a revisions for february to 468,000 would revised january to 233,000. so those revisions are as itting we look at as well. >> and in many month -- 900,000 plus jobs added is fantastic let's hope that continues, yes let's hope labor force participation gets back into pre covid range 63 1/2% roughly that is where we would like to be, i think, one huge stimulus would be the federal government saying no more aid money to schools who
don't reopen for inclass instruction because that is an easy way to get lots of people back into the labor force. cheryl: eric i want to bring you into this a stock play. leisure hospitality jobs 280,000 one thing expected to see maybe not as much as you estimated but as reopenings continue across the country expecting leisure hospitality services jobs jump because, because of those places are open whether it is hotels or restaurants, theme parks you name it we should have seen is a bump in that did get -- >> cheryl solid confirmation this is a broad-based recovery and we think just getting started, we've been talking about two horizons for clients horizon one reopening activity closer to increased vaccinations mobility horizon two would be once herd
immunity, we have been emphasizing mid-cap small cap stocks more sliblg type orientation portfolios when we get back to second horizon, though that is the more steady state if you will that is where we see productivity challenges, that is where we see, more democratic challenges in europe, jarp, for example, still bias toward u.s. also giving us a bias towards, technology and health care. there has been some relative weakness technology and health care we would use this as opportunity to bolster those positions, horizon two just around the corner. >> i think -- stocks perform markets closed today for good friday, but i am curious how this group is going to perform, even the transports in general breaking down into this jon hilsenrath into the service side of this, leisure hospitality side foodss services 176,000 jobs a chunk to be honest, then you also
saw arts entertainment recreation 64,000 then accommodations hotels, 40,000, also seeing just i want to look at something else right now yeah, the u6 under employment rate 10.6% that is actually a little bit less jon hilsenrath than february number 11.1%, that is the under employment rate u6 the fed looks at i want to get you to react to that. >> a couple things, undermine jobs and where they are, i think there is going to be a boom in the restaurant industry. this summer. i think this is going to be tons of jobs a lot of people want to get out and spend time with friends and family so i am expecting a lot in that arena. in terms of the fed you know i think that 95% of the human population would say this is great news unemployment rate falling, there is more jobs, i think if you are a financial market professional a little
more confusing you have to ask is this going to provoke fed to stop bond applying program sooner than coupled jay powell fed chairman kind of pushing that debate off doesn't want market ahead of itself, but this summer when we are all out at restaurants, having a nice meal with friends and family, i think this is going to be a debate in the financial markets about the fed pulling back, some policies a little bit sooner than expected. and that could affect the trajectory of -- of the stock market rise. but for the economy, it is off to the races i just want to say one other thing. cheryl: sure. >> all good news, risks one of the what are risks out there i mentioned fed that is one, the other one i think we have to mention what the -- if covid comes back we are hoping and expecting it not to. but look at place like brazil right now, which is just a horrible human tragedy a biging risk out there if some
variant comes out back in the soup later this year. cheryl: i also too the other thing i wonder about long-term employment steve i am taking that to you because as going into this number, if you look at the last you know, basically four million people on long-term employment that to me that is continuing number that we bring to viewers every thursday continuing claims, if we don't see a drop in that, and point made earlier about the fact a lot of folks are is it going to at home making more money than if they go back o to their jobs so why not stay on unemployment if you can, not work if that long-term unemployment number doesn't start to come down i have seen estimates as many as 10 million people still collecting, that is a problem, for the economy. that hurts growth. will the. >> sure does, and also a problem for workers you know the longer you he stay unemployed you know the longer the more you lose your job skills, and your you kind of calcify a negative thing we've got to get people back o into
workforce we should be really encouraging work, much more than welfare what last bill did, look, jon hilsenrath, anticipated i would say this i am going to say nonetheless we don't need any more government spending, the economy is on great, great recovery path, and i said this for months after month on this show, that the stimulus is the vaccine, and jon hilsenrath, by the way, you are exactly right the one thing that could really, being no up this picture if we had another variant that had the shut down economy again god forbid if that doesn't happen i think looking at really strong rest of the year, one other point i made this point a lot but, you know about a week ago the state unemployment numbers came down, you've got about 15 states most of them republican red states that actually already have a labor shortage no unemployment rates are less than -- you know 3 1/2 to 4%
high unemployment rates in california, new york, new jersey illinois hawaii blue states they've got to get their economy wholly open then sunny skies rest of atmosphere into fall. >> yesterday initial claims illinois ohio boosted numbers we got yesterday weekly data your point about variants you did we sad dr. adalja on last hour not as concerned about variants we are seeing in particular pfizer vaccine protecting to us vaccinated 16% of america i want to throw that out we say worried about it trying to listen to doctors tell me those variants are we shouldn't be too concerned yet i do want to bring in -- go back to launders in washington of you got some more data on women in the workforce; correct? >> yeah your panel talking about this women important measure number ployed women rose 595,000 compare with
number of employed men dropped women over 16, 16 and over. for men 16 and over dropped 144,000 so for women, coming into workforce the woman unemployment rate was 5.9% down from 6.1%, the participation rate the labor force participation among women was -- went 2 -- to 56.1% from 55.8%, so more women it seems added to workforce here in this jobs' report. cheryl: joanie you brute that up earlier i know watching closely because schools reopen, we are hoping maybe we are seeing, more women go back to work. >> cheryl you know, that is going to continue hopefully to move the right direction as we do see schools reopen, there aren't many colleagues that work in california -- schools are not fully open and still
juggling the challenge having kids at home online young children this is still a big challenge in many states across the country great to see moving root direction i think we need to continue to watch, that, i also want to make another point cheryl just on kind of the pent-up demand that is out there, especially in supply chains, you know i think -- if we -- get -- you know some backlog with manufacturing logistics with motor vehicle parts, you know we've had you automobileding manufacturers had to shut down in the united states and lay employees off because they don't have the parts so there is so much pent-up demand in the workforce right now that once we really get kind of supply chain back on track, you know i think we are going
to continue to see a tremendous amount of job growth, so as long as we can you know keep the virus from coming back i really do believe the job market and the economy is going to be full force ahead. cheryl: skra eric bringing you walk in we got suez canal opened this week there is a lot of back fighters off port of los angeles waiting to short term disruption of what do you make about you long-term sly chain coming back. >> i think a relevant commentary institute supply management a report not of the agent are u.s. but europe and japan europe and japan a surprise given trends especially on vaccinations suez canal opening is a positive represents .5% of truly global trade it was a great short-term story i think your point the bigger issue
what we're seeing in in the the port of los angeles. really the knock-on effect happening with chips affecting automobiles to cell phones to computers et cetera, so, ultimately we think this release valve will materialize you get a path effect we think could be quite positive again not all -- all rainbows puppy dogs there are risks on the other side of this year, meaning how sustainable will that demand be that demand will be a very positive development word to global economy. >> i keep watching listening but watching the bottom of my screen right now look at dow right now dow futures jon hilsenrath now up 183, again, markets are closed but the bond market does have a half day, what are your expectations? >> well you know bottom line good news the economy is
coming back we are seeing that in stock market i don't see what is going on with bond yields you have to expect, that they are going up a little bit. i want to say one other thing, about schools. cheryl: can i jump in i can answer it 10-year rose to session high 1.698% question, answer go ahead. >> right we should expect still lower than where 10-year yields were a year ago i don't think a problem i do think an important point to make about schools talking about schools reopening i want to say something else that is going to annoy millions and millions of kids out there, which is that we shouldn't be talking about schools reopening we should be talking about them staying open this summer. you know i think we've got to give all teachers -- a fan let them fan themselves get kids back in the classroom make up for all the time they lost over the last few months, to educate these kids so they don't have permanent scars from what they lost out on you
want jobs, teachers want jobs more income, get in the classroom this summer, teach those kids, deal with the heat. and i think that is good for the economy, and in long run just for a lot of children any don't know who is trying to chime in joanie you are a memo, sorry joanie jumper in i know your this is something of you been watching close to your heart i know, we have friends that have kids very, very frustrated go ahead. >> yeah, i think the long-term impacts of the children staying home doing school remotely we don't even begin to know how that is going to impact, i do have two children both in high school, and they are like a hybrid model some days they go some days they are home. to jon's point i think do kids want going back they want summers off. i think our children across
the country missed out on a tremendous amount of education. and it is going to catch up with them i don't think a bad idea i agree with jon i think a very good idea, to get them caught up, and i have you know my sister is a teacher, and she sees it, her second grade students are so far behind they are back in school on long island, but she is trying to get them caught up, so this -- is a challenge, and it is something we need to think differently, how are we going to get our children caught up with the education and get them back to the level they need to be so that cheryl can i jump back in. cheryl: sure i was going to say i also agree with you you probably just made a lot of people mad go ahead. >> i do that all a time i don't think enough people talk about they everyone saying reopen schools reopen schools we have got to look -- in may a lot of schools are done for the year there has to be a national conversation about what is this summer going to look like for children, all
right. i know, yeah they deserve vacation but maybe we go into july. maybe they are in school two days a week. there has to be a conversation about what is the summer going to look look for children, businesses as usual not in their interest we could get even more juice into the economy if we can as teachers doing a little more work this summer than they usually do. >> the problem jon the problem is that a lot of ep teachers unions say they don't want a teach this summer ridiculous they haven't been teaching for a year or at least part-time jon's point is important all studies show that if you have a third grader that losses potentially a year of education, that does permanent damage, permanent damage to their earning potential and their development, socially economically as they grow jon's point is so important. we are opening schools, in april, and then we are closing them in middle of may or end
of may? that doesn't make any sense. should he this be open throughout summer to make up for that last round the most important thing we can do for development the people have been biggest victims of all these lockdowns have bin children there is no question about it children have been the victims let's go do this for our kids. cheryl: i couldn't agree more. >> also going to help workforce issue, because you know parents can get back to work, if their kids are in some kind of schooling, there has to be a conversation about what the summer looks like . cheryl: you know, as we look towards again good friday markets are closed, and kids are home everybody is home, but eric, if the markets were open gosh i wish they were 00 new records dow futures just went over 200 opponents right now, again, surprises government to release jobs' report maybe can explain that to me why release jobs' report
on day when markets are closed but they did if new records dow and s&p right now if markets were open. >> we would he cheryl again we think this is a bullish report for markets, and we think that as long as we see situation that owning u.s. equities, focusing on sectors i mentioned earlier really where you want to be i think to point about bonded market this is a really important signal for what may happen three to six months the analogy to cleepts like pool game marco polo what happened cast months market sold off bonds, waiting to hear federal response thus far, chair powell has been a little quiet has said we are going to let things continue to play out whereas, in europe christine lagarde said, quite vociferously i think battle to see if fed will clinch
you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. want your workout to be easier, more effective, and more convenient? then you should try aerotrainer by golo. the new full body workout that you can do at home
or anywhere. it's great for planks, squats, core, and glutes. you'll strengthen and tone muscles, relieve back pain, and reduce stress. it's also great for yoga and pilates. get noticeable results in just ten minutes a day. (woman) aerotrainer makes me want to workout. look at me. it works 100%. (host) all of this is a $300 value, but through this special offer, you can get the entire aerotrainer system for just four easy payments of $19.95. and if you order today, we'll also include free shipping. still not sure? then we're eliminating the risk. try the aerotrainer in your home for 60 days. if for any reason you don't want to keep it, we'll give you a super easy refund. we'll even cover the return shipping. this is a limited time offer, so go to aerotrainer.com to get the body you want with aerotrainer.
out minutes ago the economy adding 916,000 jobs, that beat economists expectations, unemployment rate did indeed drop down to 6%. eric bring you back in i was looking at 10-year in commercial break sitting at about 1.67%, we have larry lindsey on show yesterday told a maria he was look at 3% this year the live contract we are watching here. >> we think that 3% is probably not in cards for this year. we think there is probably a stairstep higher to 2% that will be likely the battleground between fed and markets, so, at 2% we still think trade-off between bond yields and stocks favor stocks, but there are likely an opportunity for the -- for the upside to 2% number we think settle in 1 and 3/4 about where we are right now gradual move to 2, 2% key
battleground between markets fd what messaging looks like back half of this year. cheryl: we have to hear from jerome powell from janet yellen on that eric freeman joanie, jon hilsenrath thanks to all of you for your great coverage, this morning, march jobs' report. appreciate it. >> thank you. >> all right coming up final thoughts from our all-star panel on march jobs' report continuing coverage right after a quick commercial break.
announcer supermodel cindy crawford doesn't just walk the red carpet. she rocks it! and today, at over 50, she still steals the show. even vogue magazine exclaims, “at 52, cindy still looks as good as she did at 25!” us weekly calls it “proof that cindy does not age” what's cindy's secret? meaningful beauty supreme! the groundbreaking anti-aging system that has kept cindy's skin looking so surprisingly youthful for so long. ellen pompeo when you see the pictures of cindy at age 31 and then now at 52, her skin actually looks more radiant now then it did then.
so... whatever she's doing is doing, i'm down to try. announcer with meaningful beauty, frown lines appear diminished in just weeks! crow's feet are visibly softened, and under eye areas appear lifted. horizontal necklines appear dramatically diminished! blanche people definitely say, what are you using? and i say meaningful beauty. and they say, okay, well i guess i gotta go get some. announcer and now is the perfect time for you to experience meaningful beauty supreme because this special offer is cindy's best deal ever! normally $139 dollars, you'll pay only $49.95 for all five concentrated super treatments. and we'll even include free shipping. but wait. order right now we'll add cindy's glow and go trio, over $80 dollars' worth of bonus extras, free! first, the sensational glowing serum, cindy's secret to an instant, red-carpet-ready glow. next, the amazing triple exfoliating treatment and, cindy's incredible ultra lifting and filling treatment. april walker i'm about to turn 50 and people absolutely can't believe it.
they say there's no way, there's no way. announcer meaningful beauty comes with a 60-day money-back guarantee. take advantage of this amazing offer. only $49.95 for everything you see here. ellen pompeo these creams and serums are amazing. my skin appeared firmer even a little lifted, that's a great feeling! announcer call 1-800-977-6649 or go to meaningfulbeauty.com right now!
cheryl: a big friday. che ms. friedman, steve moore, thank you for joining me. >> thank you. great to be here. >> of the economy is back. cheryl: the economy is back and jobs are back. "varney & co." is next. ashley, i wish the markets were open today. we would have had a heck of a market. ashley: why do we have the jobs reports on a day that the markets are closed? good morning. on ashley webster in for stuart varney on this good friday and let's get to the jobs report. 916,000 jobs added in the month of march, way above estimates and by the way coming up at 9:45 a.m., we will speak to the new labor secretary martie walsh and get his thoughts on the report and at 11:00 a.m. president biden will deliver remarks on