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tv   Mornings With Maria Bartiromo  FOX Business  April 12, 2021 6:00am-9:00am EDT

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for the next generation. i'm jamie colby. thanks so much for watching "strange inheritance." and remember -- you can't take it with you. ♪♪ maria: god monday morning, everyone. thanks so much for joining us. i'm maria bartiromo, monday april 12th, top stories 6:00 a.m. on the east coast. tragedy at the southern border. more members of congress making their own firsthand trips to the border at the biden white house tries to throw money at the crisis rather than use real efforts to stop hundreds of thousands of migrants crossing the border every month. the senior most border official set to step down by the end of the month. the administration wants to pay central americans to not come here. we are following this all morning long. hear from georgia congressman
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buddy carter and former acting ice direct o tom homan, markets are mixed looking at stocks under pressure. dow industrials down 80 points. nasdaq lower by 17 and s&p 500 down 7 and a quarter. expect today slip at the opening of trading after all three major indices hit all-time high in sea of green last week. in fact, the nasdaq now out of correction territory on the week. the dow industrials up almost 2%, the nasdaq up better than 3% and the s&p 500 higher by almost 3% as well. all this as first-quarter earnings kick off this week beginning with big banks this wednesday. cornerstone macro calling consensus melt-up ahead of earnings. analysts predicting growth in the second half of the year. european markets are lower, take a look. we are looking at the uk opening outdoor venues for the first time in months. this takes steps out of the lockdown and into reopening, nonetheless ftse 100 down 21,
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cac down 2 and dax higher by two-thirds. in asia markets mostly finished higher. asian indices with shanghai composite big loser better than 1%. restarting restaurants, state of the new york food scene, why some owners say there are still too many restrictions. mornings with maria is live right now. ♪ ♪ maria: top stories that we are watching this morning right now. a large group of border crossers detained in texas as migrant surge overwhelms officials at the southern border. arizona's attorney general now calling for the biden administration to go down to the border. firsthand in a sunday morning futures exclusive. >> i'm encouraging whether it's
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the vice president or secretary becerra to talk to border patrol agents and find out what's going on. they will tell you it's the worse they've seen in decades. talk to local sheriffs and they will tell you how the system is being overwhelmed. maria: vice president kamala harris has gone nearly 3 weeks without a news conference on the border since being tapped to handle this ongoing crisis. the numbers march alone, 170,000 people at the border, february 100,000. meanwhile corporate america is expanding its push against new voting laws, dozens of ceo's and executives from companies including pepsco, paypal, starbucks now reportedly on a call to express opposition to what they consider discriminatory voting legislation passed in georgia. we have to ask the question, did these ceo's actually read the law. being considered this in other states as well, the response to
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georgia's law has already seen companies face boycotts for beth sides of the aisle. what specifically are they upset about, i don't know. president biden and vice president harris meanwhile meeting with lawmakers today to sell massive 2 trillion-dollar spending bill, job-crushing slush fund. gop memo suggests tax increases could force companies to cut 1 million jobs and already and hurt an already fragile economy as secretary president biden walks back claims that the plan would create jobs, 19 million jobs is what he said. studies show it will create 2.7 million jobs if any at all. the south african variant may invade pfizer vaccine, prevalent among those who received both doses of vaccine were 8 times higher than those vaccinated. this is part of and is rally study which has yet to be peer
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reviewed. and markets this morning are lower, take a look at futures indicating a decline at the start of trading, dow industrials down 81 points, nasdaq down 22 and s&p lower by 7 and a half. investors are waiting on earning season and kick off this week on wednesday with major banks reporting first-quarter results, citi, jpmorgan. this week include delta airlines, rite aid coming out with first quarter earnings, joining me james vice chairman fred lane, also joining the conversation all morning fox business dagen mcdowell, professor of king's economics brian brenberg. great to see everybody this morning. happy monday to you. fred, kicking it off with you, what are you expecting to see this week when we kick off first-quarter earnings. we should note that the first quarter will not have the easy
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comparison that is the rest of the year will have as the economy really shut down in mid-march in 2020. >> i think earnings will be -- it'll be variable by company obviously but when you take united health as an example, i think they actually will have some -- they'll probably have pretty good earnings. the banks will have pretty strong earnings as well. we do have somewhat higher interest rates helping the banks. but i think on balance, i think the markets look well beyond this. i think wall street has gone through a nice recovery here as we all know, as you spoke earlier, all the stock indexes are now at record levels. i think what's interesting is main street is going to come back and i think that's very important for the economy broadly and i think jobs are economy is coming back, gdb is 6 and a half to 7% growth over last year, could be higher, rest of the world is much more --
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much more troubled, the recovery is slower in the emerging markets in particular. but i think earnings should be good. but i don't think the stock market's position to go a lot higher. we held a very long period of frothy excess here. gamestopbeing poster child for that sort of thing. we had had high options activities and some of that starting to unwind a little bit. i think the melt-up is continuing on one hand but i don't think the earning season will drive to higher level. i think it's going to be a period of entrenchment, i'm from missouri to use that term. maria: yeah, because there's been a lot of the easy money made i guess i guess is what you're saying, you called it a melt-up, nancy lazar is calling it a melt-up, what does that mean in terms of allocating capital for you, fred?
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>> we are still long cash to greater extent we are. we are not fully invested, 25% at 44% cash. most in 2020 we were 35% cash to 40% cash which was excessive and hurt our performance relative to what it would have been but it was still exceptionally good i'm glad to say because of specific stock selection but i think right now we are cautious, we actually think the next 2 to 3 weeks will be tricky and we are prepared to put money back into the market upon rollover. we think that there will be a rollover and there's debt in markets and the debt bubble is deflating, higher interest ratings and the fact that 10-year is 1.66 is alarming because it's relatively speaking allow rate and we know the fed will remain doveish.
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powell has been clear on that and the stock market is reliant on this and any message on the contrary will create a real rollover in the market, a meltdown as it were or temper tantrum as people like to use that term. maria: yeah. >> we are relying on the fed to support the stock market. maria: all right, so you want to sit tight for a little while until you have better prices it sounds like. federal reserve jay powell was on 10 minutes, he told 60 minutes yesterday that the u.s. economy, quote, at an inflection point but risks still remain. here is a soundbite of powell on 60 minutes. >> what we are seeing now an economy that seems to be at an inflection point and that's because of widespread vaccination and strong fiscal support, strong monetary policy support. we feel like we are at a place where the economy is about to start growing much more quickly and job creation coming in much more quickly, so the principle risk to our economy right now really is that the disease would
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spread again. maria: fred, does that coincide with valuations or -- or, you know, yeah, we could be at an inflection point but that doesn't tell me to invest in this market because valuations have predicted this and been ahead of that -- that notion, what do you think? >> i think it's the latter. i think the market has fully discounted that. i think main street will have a boom time over the next 2 or 3 quarters. i certainly hope so. i want to see restaurants thrive. i want to see the local retailer thrive. i want to see local economies who have been so hurt and individuals who have been so hurt come back and the consumer has money, he will spend the money. one to have risks to the economy, however, and it's really more a risk to capital markets in the short-term at least is higher taxes. i think this -- the
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$2.3 trillion infrastructure bill which is -- which is a misnomer because in point of actual fact half of it or so might be categorizable as fiscal infrastructure, a lot of it is social spending. free community college is not in my view infrastructure nor is rolling back right to work laws in various states' infrastructure. but putting that aside, this may be a preview of what we will see from the administration going forward. i don't think that's positive for business. i think capital investment will be somewhat constrained and i think this is not a good tax to increase taxes. if you want to increase tax revenues by the way, maintain tax where is they are. in fact, you might even drop taxes, that won't happen, i know. as history tells us that reducing taxes is stimulus to the economy and that will be a
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positive thing. we are not going to have that. i worry about higher taxes. maria: i hear you. larry lindsey from the lindsey group calls it 15% infrastructure. 85% other things like social spending, fred, you're spot-on on that but they will trying to sell that today, kamala harris and joe biden will be talking to the republicans and democrats to sell that, quote, unquote, infrastructure plan which is obviously a spending plan. fred, great to see you this morning. thank you so much, we will be watching all of the above. thank you, sir. >> thank you, maria. >> all right, your morning mover is nuance communications. the stock is soaring on news, i report, microsoft is in advance talks to acquire the ai firm for about $16 billion. the deal could be announced today. it would be microsoft's second largest acquisition ever after the purchase in 2016 of linkedin, nuance communications right now up 21% at 5505.
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we are just getting started this morning, coming up the state of the restaurant industry and why some business owners say the future looks bleak and what needs to be done to change that. calls for the biden administration to act on the border crisis. georgia congressman buddy carter and former acting ice director tom homan will weigh in on where we stand. taking on the democrats in the empire state, lee zeldin is here. you're watching mornings with maria live on fox business. ♪ ♪ ♪ ♪♪ ♪♪ ♪♪
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maria: former president trump speaking on on the 2020 midterm elections and confident that republicans will take congress. this was during donor retreat at mar-a-lago on saturday. joining me senior federalist chris bedford. thank you very much for joining us.
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your reaction to what you heard president trump this weekend at mar-a-lago at the donor event? >> well, president trump is someone who never likes to stay on script and went off script much of the consternation of mitch mcconnell and he was going to be there. he was going to help and that's going to be important to him maintaining as a national figure as opposed to simply fading away off the national stage, being there and if he actually helps deliver the house and the senate and campaigns hard and it's a very good chance he could. the senate is extremely close. arizona has gotten special reelection up, georgia one of the elections up for senator warnock, then he will cement place in gop. maria: yeah, look, we have so much policy for voters to react to coming up in the 2022
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elections so let's take a look at it from that standpoint. this spending plan, 2 rand a quarter trillion dollars, you're going to hear a lot about that today when president biden and vice president harris try to sell the plan today. i mentioned larry lindsey discussing the fact that it is 15% true infrastructure. it's a full 85% of quote, unquote, social infrastructure is what they are calling it. i don't know how caring for the elderly is infrastructure at all but that's what they are trying to make it to be so that they could get through this 2 and a quarter trillion dollar spending plan. you have this commission that president biden is putting together to look at the supreme court, potential packing of the supreme court with liberals. you've got wide open borders, you have new efforts on gun control. the list is long. how will voters react come 2022?
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chris: i think voters are going to be angry and pushing back. there's a more enthusiasm on the side of the opposition at at that point where the democratic party will feel, well, we have our guy in and the democrats seem to be making a mistake. infrastructure is extremely popular. the republicans failed to get it done especially after putting it because of fighting between back and forth with republicans and democrats. we are going to fix your roads, we are going to fix the bridges, that's something the american people are supportive. they are not supportive of all this and the left has been pushing, pushing on every single front they can. we haven't had a moderate democratic party and one pushed to the extreme and the american voter typically is not extreme. maria: yeah, it's pretty extraordinary. what do you make of all of the companies speaking out against
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the georgia voting laws, more than 100 ceo's reportedly meeting over the weekend to discuss the legislation. i spoke with former nfl star herschel walker on sunday morning futures on ceo's and hypocrisy. here is his take on pit. >> i think that's one thing they are trying to do right now, muddy it up and talk about id's when yet the ceo's know good and will they are doing services, get meeting into the offices, you need an id, you need an id to do that. maria: yeah. chris. chris: this is something that, i think, he's exactly right and corporations are hypocritical and lining themselves based on ridiculous propaganda from the left that's parroted by the media and that's somehow jim crow laws. it's an extremely embarrassing
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thing to even say to show that to lack of historical understanding of how difficult and horrible the real jim crow laws were and how these have nothing to do with that and we see all the people that went to the same schools and make massive paychecks and powerful people in america getting together to conspire against voter integrity and our elections. that's a very bad sign. republican legislators should make them feel pain from all of the handouts every company gets whether it's antitrust of airplanes or municipal bonds for the major league baseball, the nfl, they should be made to suffer if they are not going to be uniting companies but divisive and partisan. maria: well, it's pretty extraordinary. it's a real letdown to the american people, isn't it? chris bedford, great to see you this morning. very articulate on all of that, we will catch up soon. stay with us. we will be right back.
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maria: welcome back, from the grid iron to political playing field yesterday i spoke with nfl legend and college football legend herschel walker on sunday morning futures about a potential georgia senate run, watch. are you considering running for the senate seat in georgia in the 2022 race? >> i'm very honored that they would consider me running for the senate and my family, we are still going through this process of praying and really considering it and at the same time i take it very serious and people want me to decide like right now and i said, guys, i'm going the take my time because this is a very serious, serious thing but i will tell you this, herschel walker believe in god, i believe in this country, i believe in the people and i'm going the fight for the people of georgia if i run, so just stay tune and i will tell you,
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it'll be exciting. maria: dagen mcdowell, your thoughts on this? there was obviously the special election where warnock is now going to have to get reelected to keep that seat in the 2022 race? dagen: and you can't find a more famous georgian than herschel walker. born, grew up in georgia, went to the university of georgia, one of the greatest football players particularly in college of all time and raphael warnock on the other hand is probably one of the most vulnerable of 34 senate seats that are up for reelection in 2022. 20 of them are republican, 14 are democrat and raphael warnock is probably the most vulnerable democrat running for reelection
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in the senate. and if anybody could take it him on from the republicans, it would be herschel walker. there's a lot of love for herschel in the state of georgia. maria: yeah, he made a really good point about all of this fuss over georgia voting law. what they are trying to do, brian, is muddy up georgia and the gop going into the senate race, try to muddy up georgia as if there's some problem there, you know, some underlying upset on voting restrictions in georgia and -- mlb, corporate america, falling for it. brian: when the waters get muddy, you want somebody that clears up. he has done that with you, he's a unifying figure in georgia and
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can speak uniquely on issues of race, he's been very articulate about that, so i think he's well positioned and especially in a state where you've had so much democratic overreach and focused on georgia and overreach and voting laws being on top of the list. this is a prime moment for somebody like him if he decides to get in and sounds like he's leaning in that direction. dagen: republicans have always been strong on business and i think the most horrific thing to come out of these voting laws protests are how black businesses have been hurt where have the major league baseball all-star game is moving to denver which is 9% black versus half of the population of atlanta. it's black and crushed black-owned businesses. i think that that's where the republicans also can really win
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in talking about what are they doing for prosperity for all georgians. >> well, i mean, do you think the ceo's actually read the law, dagen? it's quite extraordinary. are they getting rolled over and bullied by the extreme left. dagen: they didn't read the georgia law and they didn't -- they have virtually no knowledge of laws in liberal states like new york that are more restrictive. so maybe they ought to, you know, bone up on that before they weighed in. they are becoming extremely political and so what does this mean? now all of the ceo's are going to have to say, oh, are you in favor of hr1, are you in favor of federalizing election law and taking power away from the states, are you in favor of the proact which has passed the house which gets rid of right to work laws? again this is crushing states' rights and ceo's are going to be required to express their views
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on federalism. maria: that's -- that's the point. maybe joe biden needs to come out and apologize for misrepresenting the law in georgia. dagen: yeah. maria: that would be willing. we will be right back. ♪ ♪ ♪ 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. ♪♪
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client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you.
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maria: welcome back, good monday morning. thank you very much for joining us. i'm maria bartiromo and it is monday april 12th, look at markets this half an hour where we are looking at stocks under pressure right now. dow industrials down 70 points. the nasdaq down 42 and the s&p 500 weaker by 8 and a quarter. this after all three major indices hit all-time highs last week in a sea of green on the week. check it out. dow industrials up almost 2%, the nasdaq now out of correction territory with the gain on the week of better than 3%. the s&p 500 higher by almost 3% right as we are on the doorstep on first-quarter earnings this week kicking off on wednesday with the major banks. cornerstone macro is calling it
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a consensus melt-up unfolding ahead of earnings, more analysts predicting growth in the second half of the year. the big banks this morning are lower ahead of the earnings releases beginning on wednesday, european markets this morning arics mixed. we do have good news on the uk opening more outdoor venues today for the first time in months as the uk takes steps out of the lockdown, nonetheless ftse 100 down 22, the cac quarante in paris up a fraction as index in germany. markets overnight, mostly lower. the leadership on the downside change high composite in china down better than 1%. meanwhile a minnesota suburb rocked by violent protests overnight after police-involved shooting. gerri willis, good morning to you. >> this all began with a traffic stop sunday afternoon. officers in brooklyn in center minnesota say they tried to bring a man into custody after learning he hat an outstanding warrant.
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the suspect tried to get back in his vehicle and was shot by the officer during the stop. the man was still labeled to drive off but soon crashed into another car and protestors throwing bricks and clashing with police and the national guard is on the ground and curfew in effect. meanwhile to extreme weather, a florida teen is dead after stepping on a down power line while trying to escape her burning car. it happened during a powerful storm sweeping through the state over the weekend, dropping golf-ball size hail and up to 2 inches of rain in some areas, thousands, thousands are without power this morning. and alibaba making changes to how it treats merchants, the company is reducing service fees and charges for venders and also investing in improved technology and tools for them. the announcement comes days after china imposed a $2.8 billion fine on the company for anti-trust violations saying
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alibaba punished merchants who also conducted business with rivals. in pre-market trading the stock up 6%. and kim kardashian west newest company is now part of the billion dollar club. the valuation of skim shapewear has skyrocketed to $1.6 billion after snagging a new batch of investors. kardashian west said the money will help develop new skims products. maria. maria: gerri, thank you so much. chinese and canadian officials are facing a standstill this morning. the halifax security forum has set to award taiwanese to stand up to communist party and now canadian government and prime minister trudeau is threatening to cut funding if it moves
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forward for honoring the president of taiwan. joining me right now gatestone institute fellow, collapse of china as well as the great u.s. china tech war, gordon chang. gordon, great to have you this morning. thank you very much for being here. you are an expert on this subject and i was really struck by this story this morning that the organizers of one of the world's most prestigious defense gatherings are in the midst of this uncomfortable situation because the government of canada is threatening to pull funding, why? just because they are honoring the president of taiwan and acknowledging that taiwan has sovereignty? gordon: well, there are a couple of factors here. first of all, justin trudeau, the prime minister, he comes from a family where admiration of communism and specifically chinese communism runs deep. and every time canada does something resalute about china it's only over the objections of
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trudeau. the other factor here is that china is holding 2 canadians, the two michaels as they are called who are generally acknowledged to be hostages because canada at the request of the united states has held the chief financial officer of hauwei pending extradition proceedings. so i think that justin trudeau believes that if he isqu e maybe wthlththelseeaseeaseset aemi.mi 's tat wayheus tdeaudedede elfefe a: iritt apprs that t t t navyy oris wedritrihe t c wilil in fact,, iadeaiwan srne ratherrahaern terer later.ater at are areouhougousou on tt?haha ongord y: thehe cmaomeromer ofor indoacifac cmandmaalkemaalma aboutou-yeareaime fra. his designdeedgndegndegndede scesscs abab 5ea 5r time t f fnd voicvo invo ivo bji bng tkboutut
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demand amaexmag taiwan withiiti5 s.s. th com, tho, th, th,h, it's not just talk because it comes as china is sending its high-performance aircraft into taiwan's air defense identification zone almost daily and now china's first aircraft carrier is east of taiwan, so this is essentially a coordinated air force and navy effort. this is exceedingly dangerous, maria, because something is wrong in beijing. i think they are lashing out at many of their neighbors and their number 1 target right now is taiwan. maria: so you've got the ccp bullying its neighbors as has been the case now for a decade or more actually including threatening taiwan. you've got the ccp continuing its behavior of human rights abuses, intellectual property theft. the threat of chinese influence is an issue. we talk about all of the time
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and yesterday i spoke with the former director of national intelligence john ratcliffe on this subject specifically as it relates to the origins of covid and the ccp's influence on the u.s. here is his take on. i have to get yours. listen to this. >> the world health organization came out and with a report and, you know, as the director of national intelligence for the past year i didn't see a single intelligence product from the best intelligence enterprise in the world that was consistent with what the world health organization said about the likely origins of covid-19. so, you know, all of those things are real clear about china's role with respect to a virus that -- that was a direct and proximate cause of half a million american deaths and the big winner in 2020 election was joe biden and was also china and the fact that joe biden is not or his diplomats are not
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addressing this issue directly with china, i think really reflects that everything that they've said about china, about being tough is just that, it's rhetoric. maria: gordon, how is it possible that we have a meeting in alaska with chinese officials and u.s. officials and the subject of the coronavirus doesn't come up? how is it possible that president biden has not asked xi jinping what the origins of the coronavirus are after all of the deaths in america and a complete change of our lives? i thought that was the most important priority for the biden administration and yet we still haven't asked china how this happened. gordon: yeah, this is inexplicable. i don't know how president biden spent two hours with xi gin pick and not raise the most critical issue. president biden within hours of taking the oath of office rejoined the world health organization. in other words, shoveling
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hundreds of millions of dollars of americans' money into the organization which was complicit in spreading false narrative because the w.h.o., let's remember in january of last year was telling the world that this disease was not contagious when senior doctors at the organization knew that it was. you know, john ratcliffe is absolutely right in all the points that he makes about this. this is just -- this is inexcusable. maria: i mean, will it ever come up? what -- how are we supposed to believe in u.s.-china policy and a change in policy without understanding clearly where beijing stands on this? what does it have to say for itself? >> yeah. i think right now the issue of whether this will ever get to the bottom of this, i think that we will, but it will take a long time, but i think that beijing right now is in an impossible position because it's done
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everything possible to block release of information about the origins of this disease and even dr. tedrose head of w.h.o. expressed skepticism of mission to wuhan. the one thing that the biden administration can do which the trump administration started to do and that is release u.s. intelligence about the origins of this disease because i think there are probably people in the intelligence people know where it came from but they're not releasing this info. maria: well, we already heard from the former director of the cdc, it came from a wuhan lab. we knew that from the get-go with senator tom cotton told us and even if you want to put the origins aside, the ccp hid it, allowed it to escape its borders. there was a lot of bad behavior in terms of hording our ppe equipment and there are answers that we need from beijing and
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unfortunately we don't have anybody asking the questions. gordon it's great to have you and we, of course, will continue to spotlight the story, we will see you soon, sir. gordon chang joining us there. stay with us, we will be right back. gordon: thanks, maria. ♪ ♪ ♪ my grandfather had an amazing life, but ancestry showed me so much more than i could have imagined.
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maria: welcome back, restaurants are still in need of rescue. we are taking a look at new york food scene next and why some restaurant tourists say why big apple's covid restrictions are too restrictive still.
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maria: welcome back, restaurants looking for relief. new york city extending the 11:00 p.m. curfew on bars and restaurants in an effort to ward off another surge in covid-19 cases. many owners frustrated with the move arguing that they need at least 75% capacity and no curfew to stay in business. joining me right now is the owner of bob have you van steakhouse, joseph smith. assess where we are, we have spoken a couple of months and it was a tough period, how are things going? >> good morning, maria, thank you for having us back to have a voice. things had not changed at all. we are open at 50%. the problem once again is being that the building, the office buildings are still at 10%. the only good sight i see is that the people that are coming in are much more relaxed and much less fearful of the covid.
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they don't -- they don't fear coming in when they come in they get tested and temperatures are good, they get their phone number, name and address and they proceed to go to the bar. unfortunately we have to tell them the bar is closed and they have to go to a table. most people go out to be social especially the younger people in the pubs and the smaller bar, restaurants and they go out to meet other people and the two guys, then they go sit at the table, who are they meeting, two ladies, they sit at a table, who do they meet? they don't meet anyone? maria: yeah. >> it needs to get pushed back to 1:00 o'clock and the bars need to be open where you can sit at the bar. maria: so what is the difference between doing business in new york versus doing business elsewhere like philadelphia, for example? compare new york to other areas.
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>> philadelphia is a little more friendly towards restaurants. it's 50%, almost everywhere in philadelphia has outdoor cafe and it is much more relaxed and the government is not telling you everything to do. they are telling you 50%. washington, on the other hand, is like back in the days, barb wire in the capitol and 25%, you can't come to 70% to breaking even with 25% and yet we have to stay open because we don't want to get the look that we are closed and gone out of business. so that is much worse than anywhere else. maria: sure, let me get brian brenberg. brian: they will talking about
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higher taxes on folks and do business. what do you feel for calls of higher taxes where a business like yours is struggling get those kind of customers back in? >> well, customers are in the hamptons and got homes in florida and i was in florida two weeks ago and florida is jumping. they are having dinner, they are socializing, they are at the bars and, of course, we know they got the lowest rate of anything going on. yes, we are going to lose a lot of our customers because of the higher taxes. i'm looking forward to next year to getting a new mayor and possibly a new governor. maria: wow. yeah. it's like a different world in florida versus new york. joseph, thanks very much for your assessments. good to catch up. joseph smith. we will be right back.
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maria: welcome back, time for the morning buzz. first up get paid to sign off. pwc is offering staffers 250 bucks for each full week of booked vacation. the new incentive comes out of concern over employee burnout and time off piling up in the last year. other employers are getting creative to persuade employers to take time off by adding bonus days and company holidays, how do you like that, dagen? dagen: i think they did it for publicity and to look like a good company. if people are working from home, they've had plenty of time off. the company doesn't know about it and just not booking vacation days, if you will.
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going somewhere else is invaluable. i've been plotting in my head on what i want to do, i want to go on a road trip and get in my car and look at the landscape. i understand the need to really get away. maria: i think you're right. a lot of people are feeling that way as well. i was thinking about that as well. mean while this, brian, a home run chance, one website looks for avid baseball fan to try every hot dog in major league baseball stadiums. casino review bob finder.com will pay 500, plus travel expenses, what do you think, looking for a career here, checking every hot dog? brian: do you ever feel that you were born for something? [laughter] brian: that's the greatest job ever known. dagen is talk about the road
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trip. my road trip would be to hit every major league baseball stadium and test out the hot dogs. i will meticulously test these dogs. dagen: nat has been to every baseball park. maria: i bet he has. still ahead first-quarter earnings and we have a preview with the word on wall street coming up. ♪ ♪ ♪
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maria: welcome back, good monday morning, thank you very much for joining us. i'm maria bartiromo and it is monday april 112th, your top stories right now 7:00 a.m. on the east coast. tragedy at the southern border as the biden white house tries to throw money at the crisis rather than using real efforts to stop thousands of migrants -- coming every month. the news to pay central
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americans to not come here. we are following all morning long, buddy carter later this hour and former acting ice director tom homan coming up in the next hour. markets lower, take a look, dow, nasdaq and the s&p 500 showing fractional losses at the start of trading this morning. nasdaq down 50 and s&p 500 down 7 and a half, 2 and a half hours before the opening bell. all this after the major indices hit all-time highs last week in sea of green. in fact, the major indices are up, the nasdaq out of correction territory, nasdaq better than 3% and s&p 500 higher by 2 and 3 quarters percent as first-quarter earnings kick off this week beginning with big banks wednesday. cornerstone macro calling it consensus melt-up as more analysts predict growth in the second half of the year. european markets mostly lower. uk is opening more outdoor venues today and first happening
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in months after it takes of lockdown into reopening. ftse 100 down 21 points, cac quarante is up 4 and dax higher by 12 right now. in asia overnight markets finished mostly lower as you see across the board fractional moves. mornings with maria is live right now. ♪ ♪ maria: now some of the top stories that we are watching this morning. a large group of border crossers detained in texas as the migrant surge overwhelms officials at the southern border. arizona's attorney general told me he's now calling for the biden administration to check out everything firsthand in the sunday morning futures exclusive. >> i'm encouraging whether it's the vice president or secretary becerra to come here and talk to the border patrol agents and find out what's going on. they will tell you that this is the worst they've seen in decades. talk to the local sheriffs and they will tell you how the system is being overwhelmed. maria: why won't they go? vice president harris has gone nearly 3 weeks now without a
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news conference, not a word on the border since being tapped to handle the ongoing crisis. 172,000 migrants tried to cross the border last month including nearly 20,000 children. the month before it was 100,000. meanwhile corporate america is expanding its push against new voting laws. dozens of ceo's and executives from companies including peps say, paypal, starbucks, all following the extreme left reportedly calling to express opposition to what they consider discriminatory voting legislation passed in georgia they say and being considered in other states and the response in georgia's law has seen companies face boycotts from other sides of the aisle and we are questioning whether or not ceo's have read the law because there's nothing discriminatory about the georgia law. the business community, late reunions and progressives are squaring off over prounion measures added to president
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biden's massive to 2-dollar spending bill, protecting the right to organize act would make it easier for gig workers and other contractors to become part of a union around undercut state's right to work laws by allowing unions to collect dues from workers who actually opted out of it. it also comes as amazon employees in alabama voted against unionization last week, republicans say the sweeping changes would hurt business and economic growth. well, the south african variant of the coronavirus may invade the pfizer vaccine. researchers find that the prevalence with the variant of those who received both doses of pfizer vaccine was 8 times higher than those not vaccinated. this is part of and is rally study which has yet to be peer reviewed. time for word on wall street. top investors watching your money today. joining me right now michael lee strategy founder, michael lee. carson group ceo ron carson and capital market chief strategist katherine vera.
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thank you very much for being here. michael, kicking it off with you. markets are mixed right now as we all await to see the first quarter and get a sense of how business has gone. we are waiting on the earning season to kick off with major banks reporting first-quarter results, gold an max, jpmorgan, morgan stanley coming out and other companies on stop this week, rite aid, united health. what's your expectations for the first-quarter earnings this week? >> yeah, i think earnings this week are going to be gang busters. historically analysts, 99% of the time overshoot and pull estimates back right before earning season. almost never and literally almost never going into an earning season that analysts raise the estimates and that's been the case since coming out of the coronavirus because from a macroeconomic standpoint as well as fundamental bottom-up standpoint estimates have been far too low and this quarter
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over the last few weeks analysts have raised estimates by about 6% across the board and the increases in bank earnings are up over 11% going into the quarter. that's not 11% earnings growth. that's raising of analyst estimates, 11%. i think the banks are going to report record earnings and also the fed is allowing them to start increasing their dividend and buying back stock. i don't know how well these stocks will do. i think a lot of this has been priced into the stocks but i do see them absolutely blowing the doors off earnings, blowing away estimates because of the increase in the slope of the yield curve. the ten-year treasury increased 70 basis points this quarter and so when banks can before row for free overnight and lend long in a very steep yield curve that's narvana for them. i don't know how much longer that's going to continue. i think rates have stabilized
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but we are in a friendly situation, friendly market for these banks with the difference between short and long-term interest rates as high as they've been in several years so i expect good earnings. most of it is priced in and i think earning season as a whole will be spectacular and i think that's a story for next 2 or 3 quarters to come. maria: yeah, we keep hearing about how great the macro story is but it's a good point to make, it doesn't necessarily mean you want to put more money to -- to -- in stocks right here given that the market has been anticipating this and valuations are up there. i think that's what i hear you saying. micheal: i'm still bull you shall on -- bullish on stocks and there's nowhere to go and i think tech will take over this quarter. maria: jay powell told 60 minutes yesterday that the economy is, quote, inflection point but some risks still
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remain. here is his commentary, watch. >> principal risk to our economy right now is that the disease would spread again. it's going to be smart if people can continue to socially distance and wear masks. well, i'd say that we and a lot of private sector forecasters see strong growth and strong job creations starting right now so really the outlook has brightened substantially. maria: so -- so, ron, again, more positive commentary about the broad economy. what are the risks here? obviously inflation is one of them. are we looking at an inflationary story that's going to take over in terms of the headlines given we are already seeing double-digit price increases in a number of food commodities? >> yeah, i think so but it's not going to be for a while, maria, and i think the market and i agree with what michael was saying, we have a fed guaranty. powell says that i'm in a
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position to guaranty the economy is going to come back. you throw that on top of all of the stimulus, there's no other place to go but i do believe and we have looked at other economies and it's not going to be an issue. i don't think that's the case here. we will have inflation down the road and they'll be cross-over points, we had the worst quarter. i'm not sure it's forever but pretty close to forever and interest rates will eventually start to go back up and probably more than the market anticipates because i think inflation will be real and we heard powell say specifically there's 3 conditions that need to happen. we have to have inflation, we have to perception of inflation and we have to believe that it's going to be sustainable and we have ways to go and i think inflation will get traction in here at some point. maria: yeah, i mean, do you need to own anything different, lee, going into that period? >> i would own real assets in here. i'm from nebraska, from farm
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country, anything that will perform well in heightened inflationary environment. >> katherine, let's talk deals for a second, microsoft to acquire nuance for $15 billion and nuance stock soaring on the stock, we are waiting on the official news, it would be microsoft's second acquisition ever after purchase of linkedin, your thoughts on this deal and what it could trigger for further deals? >> sure, maria. i will add one further point of consensus melt-up should cause some of us to think in a contrarian fashion. i'm recommending investors invest right now in treasury and consume staples which can pass the inflationary cost onto their consumer as well as real estate and we will add that in. microsoft is trying to take google and amazon which are taking antitrust pressures.
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it's approaching $2 trillion in market value and now they are attempting to get into the ai and healthcare sector space to capitalize on what has been a bonanza for them over the past year and during the pandemic which has been its cloud platform. so i think, look, this is something that's going to be their second biggest acquisition on record after 26 billion-dollar linkedin acquisition and they are trying to, you know, go on some spending free. this is one of the biggest ever. they acquired two gaming acquisitions totaling about $17 billion in the past couple of. so microsoft is certainly trying to capitalize on the recent growth and continue to expand going into the future. maria: any investment play here, katherine? >> yeah, look, i think, you know, i think a lot of what -- going back to what mike was saying, i think a lot of it is priced in which is validating the pe multiple, the prices over the earnings, prices are already
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discounting this bonanza that the consensus melt-up has discounted. what we must see denominator, earnings this season effectively be as spectacular as mike and ron have suggested. maria: yeah. >> if they don't, then i think you will get a correction and i'm strongly recommending investors to be defensive in such a bullish if not euphoric time period in the market. maria: certainly expectations are way up there ahead of reporting season. great conversation. come back soon. thanks very much, everybody. much more ahead. calls for the biden administration to act on the border crisis. georgia congressman buddy carter and former acting director tom homan will weigh in. taking on the democrats in the empire state. new york congressman lee zeldin is here to discuss governor of
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new york. dagen mcdowell, brian brenberg, we will get back to this fantastic panel.rt you're watching mornings with maria live on fox business. ♪ ♪ ♪ experience amazing at your lexus dealer. experience amazing at your lexus dealer. these days you have to keep everything moving and reinvent the wheel. with a hybrid, you can do both. that's why manufacturers are going hybrid with ibm. with watson on a hybrid cloud factories can use ai to automate the little things so they can focus on the next big thing. businesses that want to innovate at scale are going with a smarter hybrid cloud
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maria: well, the numbers at the border continue to get worse. migrants are surging the border with a large group detained in texas over the weekend. arizona attorney general calling for the biden administration to witness the crisis firsthand in an exclusive interview with me on sunday morning futures. >> well, i think it's important for federal officials to actually come to the states to see and hear and feel what's happening on the ground. don't believe my words. those are actually very similar words that kamala harris said when she was running about the need to get out. so i'm encouraging whether it's the vice president or secretary becerra to come here and talk to the border patrol agents and find out what's going on. the biden administration has a fundamental misunderstanding of what the role of the federal
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government is. maria: joining me right now is georgia congressman, member of the house energy and commerce committee and house budget committee buddy carter. congressman, great to have you this morning. thank you very much for being here. i know that you visited the border this past weekend. give us your firsthand viewpoint, what did you see? >> well, -- well, first of all, i was expecting to see a crisis and what i saw is a disaster. it is overwhelming to say the least. we had the most illegal crossings last month that we've had in the last 15 years and we had over 172,000 crossing the border and of the 19 were children. i had a particular interest in the unaccompanied children and that's what we really focused on in our trip last week on friday. and what we saw was -- was overcrowding that is just unacceptable. it's a humanitarian crisis there. we had a facility, customs and border patrol facility crossing center that has capacity of 250
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that that day on friday, they had 3500 people in there. that 3500, 2100 of them were children. it is just overwhelming and it is just -- and the cbp agents are doing the very best they can. they are doing a great job and -- and being social service workers essentially. but at the same time this is just unacceptable. not only is it humanitarian crisis but also what we saw it is a national security issue as well. we were told by the agents, by the leadership there that they caught a number of terrorists coming across the border, not only that but the surge of illegal drugs and, listen, these cartels, they are smart people. they know what they're doing. they divert attention because the cbp agents are being used in the processing center, they are not able to be on the border itself. we had a situation where they told us they have a 23-mile border that's being right now that 3 agents are working at and
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that's just not enough and, of course, the correspondentels know that and they are sending drugs across and it's causing the national security problem. maria: well, this is why so many states attorney are suing the biden administration and completely changing their states and certainly has completely overturned and changed the border cities that's for sure. but one comment that chad wolf made the other day i thought was really spot on was one of the problems is that the biden administration is not stopping the flow. they're not doing anything to actually, you know, make people accountable for breaking the law. instead they are talking about things like let's send them money to central americans, maybe that will incentivize them to stay put or let's build more facilities so that we can house these -- these kids. you know, it's just building out capacity but you're not actually stopping the flooding water. you're not stopping the floods of people from coming because they overturned all of the trump
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policies like remain in mexico, stop building the wall, putting back catch and release. i thought that was really smart. you have the ceo's, actually now we understand they are extreme ceo's and they are activist people, they are pushing back against georgia's laws, 100 ceo's met over the weekend to discuss georgia's legislation, comes as several prominent companies including georgia-base corporations, coca-cola and delta are speaking out against the state's recent election law, tell what you say the law says, why are ceo's acting this way? is there something in this law that you want to point out that is restrictive of voting? >> there is nothing in this law that's restricting voting. in fact, it's the opposite, it expands voting and makes it easier to vote whereas it makes it harder to cheat and if these ceo's would not listen to the
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misinformation and the lies being spread by stacey abrams and by joe biden and raphael warnock, they would understand that if they read the law itself, they would see that it actually does expand voting. we actually added an extra saturday into the early voting period and gave the counties options to add 2 sundays. now most of these ceo's are sitting in their ivory towers in new york state and if you compare new york state with georgia you will see that georgia has much better voting regulations. in new york state they only have ten days of early voting and we have up to 19 days. in new york state you have to have an excuse to vote absentee and in georgia you don't. all of this is just ridiculous. it's nothing more than lies and misinformation being spread by joe biden, by the democrats, raphael warnock, stacey abrams and then they say, oh, no, you will take the all-star game out of georgia, oh, how horrible, yeah, because of your misinformation and lies that they are doing that. thank you very much.
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maria: well, this is very troubling and we will hear lies every week from the administration, joe biden needs to come out and correct the record. he's calling a jim crow 2.0 and companies are following suit. this is outrageous congressman, thanks very much for weighing in here. we will see you soon. we will be right back. ♪ ♪or ♪
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shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships. go to aerotrainer.com to get yours now. maria: welcome back, more questions around the potential of a vaccine passport. many argue the cards can be used to get back to normal life others are speaking out over privacy concerns. jackie dengelis taking a closer look. jackie: good morning, maria. press secretary jen psaki saying, quote, the government is
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not now or supporting system that requires americans to carry a credential, end quote. the white house is differing to private companies to make decision on this issue. it is an issue of privacy. if you opt not to get vaccinated or can't for health reasons, do you have to share the information? texas governor abbott is against it for his state and so florida desantis saying he would take executive action on the issue. cdc made recommendation and not requirement for business but a company like norwegian cruise line, for example, has required vaccinations for all guests and crew. these businesses desperate to get back in the water. w.h.o. says that vaccine passports may not work on an international scale because some oh of areas of the world just don't have adequate vaccine access yet and there's also the other issue. the cards are real simple. i have one myself, they are handwritten and many are questioning if they can be forged. >> without our ability to really back-track and figure out who
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did and who is not is going to be extremely difficult because this is a piece of paper and because it was having to be done very, very quickly, there is zero chance that we could avoid all fraud. jackie: so you don't need a vaccine to fly or come into the country but international travelers do need a negative covid test for entry so some suggests maybe this is a better bar. in fact, you could still be infected with covid-19 after being vaccinated although chances are low. just showing that you have the card doesn't necessarily mean that you aren't presenting a covid risk, maria. maria: yeah, it's really a debate here. jackie, great to see you, thank you so much. jackie deangelis, your thoughts. dagen: i don't know how a governor like ron desantis would be able to tell private businesses you can't demand that customers be vaccinated.
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private businesses have a lot of leeway. it's like making someone wear shoes in your establishment. it's going to be very hard for him to do that particularly in a tourist-oriented state. plus, in schools including in florida, children are required to be vaccinated for a number of diseases. so it's not unheard of and passport, the idea of a vaccine passport, you could have private companies that develop them on say on iphone and it shows, it's not -- the vaccine passport is not going to be the piece of paper that you get when you get vaccinated. it would be something that you could just scan personally when you go into a business and that wouldn't really be a violation of your privacy rights because you are telling the business, hey, i've been vaccinated. they're not looking it up. again, the power is still in your hands but it's certainly up for debate.
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i know brian feels differently. maria: some people don't want to get vaccinated by the way. brian, how do you see it? brian: my concern is the cdc gives the recommendation and then you're the business and you have to figure out, do we have with the recommendation or not. so i feel like this is a back door. the government doesn't have to deal with the thorny constitutional issue, no, no, we will pass it on the private businesses and we will see how private businesses are approaching some of the big issues of our day. there's an ideological bent there that i think a lot of americans who care about liberty, care about their rights and don't want to be coerced and are looking at this and say private business wills make me carry this card. i think people ought to get the vaccine but i'm concerned of the idea that the government will pass this off and make private businesses carry this water. i don't love that. maria: when does it end? all right, we will keep talking about this and we will be right
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maria: welcome back, good monday morning, everybody. thanks so much for joining us. i'm maria bartiromo and it is monday april 1@, a look at markets this half an hour. we have futures under pressure this morning but off of the lows of the morning. nasdaq down 32, the s&p 500 down 5 and a half right now. about 2 hours away from the opening bell this after winning week last week. all three major indices hit all-time high in sea of green. dow industrials were up almost 2%, the nasdaq now out of correction territory with the gain of better than 3% and the s&p 500 up 2 and 3 quarters percent last week as we are on the doorstep of first-quarter earnings, they are kicking off this wednesday beginning with major banks, cornerstone macro is calling it consensus melt-up unfolding as more analysts predict growth in the second half of the year. european markets this morning are mixed, take a look. we are looking at declines pretty much on -- on the ftse
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100 down 20 points but the cac is up 10 and dax is up 25. and in asia overnight markets were mostly low we're the shanghai composite in china down the most better than 1% lower. meanwhile this, iran is vowing revenge against israel following an alleged attack on an underground nuclear site. gerri willis with headlines, gerri. gerri: the threat after iraniann lost power. israel is not taking credit for the attack but israeli public radio has cited intelligence sources saying it was an assad cyber operation. fox news learning that harvey weinstein has been charged with rape charges this carried out by grand jury a couple of weeks
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ago, new charges revealed today during extradition hearing in upstate new york. weinstein already facing 11 counts of rape and other charges in la. he's currently serving a 23-year sentence in a prison near buffalo. bitcoin nearing a record high this past weekend. the crypto currency rising above $60,000 this weekend on talk about constrain new supplies as it becomes more mainstream. bitcoin at 59,000. what a ride. history made at masters. the first japanese golfer to win any major golf tournament. he finished just one stroke ahead of the pack at ten under par. 5-time champ tiger woods showing his support on twitter writing this, making japan proud, congratulations on such a huge accomplishment for you and your country. this historic masters will
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impact the entire golf world and what an exciting tournament it was. maria, back to you. maria: all right, gerri, thank you so much. we are watching markets trade down after winning week last week and ahead of start of first earning season which begins this week. dow industrials down 47, and investors cautious as to what happens next as trades reach levels of since christmas eve. joining me to talk more about markets and investing today is pearson lane lle partner, how i succeeded and so can you. great to have you. your thoughts on where we are today when you look at valuations versus the expectations of growth in 2021 and what is expected to be a pretty good reporting season for
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the first quarter earnings period? >> well, it's a big question, maria, and i will do my best. first of all, thank you very much for having me on. i look at the market as if it's living organism, it breathes, it goes up, it goes down, it pauses and gets tired. i think the situation right now is a blip on the radar screen and depends on your viewpoint. my investments and the investments we have done in pearson lane have a 3 to 5-year horizon. if we think that some time in the 3 to 5-year period will be a good investment, that's where we want to be in. so it's a little peculiar doesn't bother me a bit. maria: where are the growth opportunities in your view if i were to look to invest today for the next 3 to 5 years?
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>> well, i've always liked tech and it's hard to beat the big tech companies as a solid, you know, pilar, investment portfolio. obviously amazon, microsoft, but then there are others that are -- that are more risky and have higher projected growth rates. company in south korea. tesla. we owned early and shopfy, so it's a mixture of -- maria: would you put money to work in those names today given the fact that they've had this extraordinary runoff in the last year or so? >> i definitely would. again, looking in the future, it's hard to see how those
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companies aren't going to do well. there would be periods when the market sells off and obviously evaluations will go down but long-term i think they are pretty safe bets. maria: let me ask you about what's going on in capital markets. we have seen a huge spike in special purpose acquisition companies. spacs, security and exchange commission takes aim at the companies that some could put out misleading statements on growth and sales projections. eric, your reaction to this frenzy in spacs, where does that tell us where we are in markets and would you invest in a spac? >> i doubt that i would invest in a spac. i think the questions surrounding spacs will take care of themselves. they'll self-regulate and the reason they will is it's very difficult to find targets that make sense in a spac. one is pretty easy right now to
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set up a spac, the banks who go to hedge funds and get the initial financing, make money, they are not taking any risk. the hedge funds get their warrants, so it's -- it's relatively easy process to get a spac launched. it's a very, very different process to find a deal that's going to make sense and i think as time goes by they'll be some good deals and not many and i think people will be speculating on spacs. part of it, retail investors can't participate in -- in regular ipo's. they can, you know, buy equity in a spac and use that as a
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substitude so it's interesting to see what happens. but the market will take care of itself. maria: eric, your new book, risk reward, repeat how i succeeded and you can too. you write about key decision that is you have made in your career including your time at the marine corps and lehman brothers. how did you succeed? >> well, that's -- to answer that question, maria, has always been very difficult and sounds very cliché. the reason that i wrote this book is that over the years i taught many classes in business schools and made various talks to young people who are starting their careers and the question was, when you just ask, how did you succeed, then they would say, how would i succeed and what must i do and it's very cliché to answer that in a few
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words and i thought that i would write the book and use the medium of a memoir to try to answer that question. and it has a story and has a lot about the lehman brothers and milken years and when i was 22 year's old and if somebody reads the book they would get an idea of what it takes, the hard work, the risk you have to take and the effort you have to put in and how you have to behave. so that was, you know, that was my purpose in writing a book and so far the reaction has been good and i think it's a chance that i may have met my goal, i hope so. maria: eric, great to have you this morning. thanks very much and thanks for the great to this great country. >> thanks. maria: new study show it is pfizer vaccine may not work against one strain of the virus.
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-- amesh adalja coming up. stay with us. you're watching mornings with maria live on fox business. ♪ ♪ ♪ a fund that invests in the innovators of the nasdaq 100 like you you don't have to be circuit design engineer to help push progress forward can i hold the chip? become an agent of innovation with invesco qqq
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maria: welcome back, a vaccination breakdown. the south african covid-19 variant breaking through the pfizer vaccine. according to new study out of
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israel. tel aviv university finds the aggressive strain affecting 5.4%over fully vaccinated studied participants versus less than 1% for the unvaccinated. joining me right now infectious disease expert and john hopkins center for health security scholar dr. amesh adalja. dr. adalja, thank you very much for being here. this is obviously concerning. what is your biggest takeaways from the new study? doctor: it's important to put context. so this is a small study, about 400 people. what they found when there were breakthrough infections in israeli study they found south african variant 1351 more common and that makes sense if something is going to breakthrough it's going to be the variant because the other variants in the original version of the virus have insurmountable wall of the vaccine. if you look at bigger studies, one conducted in south africa, the pfizer vaccine looks very good and also remember that what
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matters with vaccines is not about necessarily stopping infection but stopping serious disease, hospitalization and death and the pfizer vaccine and all of the vaccines are very good even against the most worrisome variant. i'm not so much worried about this. this is something that we need to study more and i think what we really want to do is remove the ability of this virus to cause hospitalization and death and all the vaccines do that for all of the variants. maria: how long is the vaccine, you know, useful? are we going to need a booster? are we going to need an annual vaccine for covid? doctor: it's too early to know that. right now we are doing natural history studies and following that have been vaccinated and looking at antibodies and t cell levels and looking to see if they get reinfected. you have somebody that's fully vaccinated or get infection or breakthrough infection and lands them in the hospital and that's not happening frequently to the best of my knowledge so i don't think we are quite there. it's important to study the
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booster doses or updated versions of the vaccines but i think we are not ready to pull the trigger on saying this is necessary yet. maria: okay, so we don't -- we don't know yet. let me ask you about regeneron, i know lots of people who have gotten the infusion at this point. now regeneron is ready to ask the fda for approval to use the covid antibody therapy as a preventive treatment, the company phase 3 clinical trial that it reduced symptomatic, what is your thoughts on using regeneron as preventive? doctor: clearly have sean it's an effective product and the problem with regeneron problem even with people symptomatic is find them fast enough and link them which is iv infusion. this is great news that they have in t new data but we have to work on the concept of operations of finding people that were exposed quick enough that they can actually benefit
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from this and over time because vaccination rollout has gotten so much better it's going to have less and less of a role but important role to have when it can be used and when it can be used quickly and fast. maria: yeah, i know that's why you've got to get the antibodies infusion as soon as possible when you know that you are covid positive. dagen mcdowell, jump in here. dagen: dr. adalja i went through this when i tested positive in march for covid because i had a very low grade fever and i immediately based on the guidance of like my family members who were scientists and people i knew tried to get the antibody infusion immediately and i don't understand why it is so difficult. what is the hold-up? if the agreement is -- and by the way the national institute of health and their antibody cocktails from regeneron and eli lily the institute of health finally recommended that people with mild to moderate covid-19
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get these, but there's even an editorial in "the new york times" by an oncologist who was trying to get his cancer patients with covid the antibody infusions and it's very difficult even in new york city hospitals and i don't understand what the hold-up is. doctor: there's a couple of things. first you have to identify people quick enough that they are going to benefit and they have been to be -- they have to get it in a window and prevent hospitalization. you have to find a place to give them this infusion. it's not an injection. it's not a pill. dagen: i know. doctor: you have to find a place to do that and it's difficult to do that in the hospital where there's not a place to infuse this because you can't put them in the cancer infusion center because they'll infect cancer patients. you have to find a logistical place to do this and places that have been successful set up tents and requires a system and concept of operations and i think we are only starting to do
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that in some of the bigger hospitals now. maria: yeah, it's too bad because it is incredibly effective and really makes things so much better for anybody who has had it. dr. adalja, great to see you, thank you very much for your insights on all of this. we will be right back. ♪ ♪ ♪
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maria: welcome back, time for the morning buzz. first up the workout debate. fitness apps and remote training taking the world by storm during the pandemic due to affordability and personalized schedules, some are still for on hands training. are you planning to go back to the gym?
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brian: my mind has been changed through this actually. i'm really enjoying working out at home. i think you can get a great workout and technology made it available in a lot of ways people didn't know. if you're motivated, people are staying home, i'm saving a lot of time and saving money. this is much more convenient. i'm certainly in that boat. maria: yeah, you can do it at home, why not? up next social media consistency, new research shows a whopping 72% of americans are using social media right now despite recent controversies regarding censorship among others, 69% of americans say they still use facebook, user levels remain stable over the past 5 years. dagen, incredible numbers that social media continue to command? dagen: i open facebook once a month. that that include usage. if that's your go-to way of
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interacting with family members, acquaintances, even coworkers. i understand that. i think the world is changing and will be more targeted social media experiences that match your likes. maria: yeah. all right. still ahead first quarter-earning season kicking off this week. we will preview it when we come right back. next hour mornings with maria live on fox business. ♪ ♪ ♪
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it's time to take advantage. . maria: welcome back. good monday mourning thanks for joining us. i'm maria bartiromo, it is monday, april 12 your top stories right now 8:00 a.m. on the button on the east coast, tragedy at the southern border more members of congress making their own firsthand trips to the border, as biden white house trades to throw monday at the crisis rather than using efforts to stop the hundreds of thousands of migrants trying to get over into america, every month. the seniormost border official said to step down by the end of the month after news the
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administration wants to pay central americans to not come here, we are on it all morning long this morning, markets under pressure this morning we are domineer the lows of the morning right here with dow industrials down 56, nasdaq down 33 s&p 500 weaker by 6 1/4 this after all three major nirz all-time highs in green nasdaq out of correction territory gain better than 3% last week, dow industrials, up almost 2% and s&p 500 higher by 2 3/4 percent as first quarter earnings period kicks off beginning with major banks cornerstone macro calling it a consequence melt-up unfolding ahead of earnings as more analysts predict growth second half of the year european markets this morning, are little changed, the uk is opening more outdoor venues today for the very first time in months trying to take steps out of the lockdown and into reopening, the ft 100 down 22, dax is up 21. in asia overnight markets
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mostly lower take a look worst performer china, shanghai composite down better than 1%. and then this, a crude awaken gasoline prices are three-year high no signs of stopping "mornings with maria" is live right now. maria: now some top stories that we are watching this morning, a large group of border crossers detained in texas as migrants surge overwhelms officials at southern border arizona attorney general is among 14 ags suing the administration, now arizona calling on biden administration check out border firsthand in "sunday morning futures" conclusive. >> i am encouraging whether vice president or secretary come here talk to bop agents find out what is going on they will tell you the worst they've seen in two decades talk to local sheriffs they will tell you how some of them is being overwhelmed. maria: well they haven't done so yet vice president kamala harris has gone nearly three
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weeks without a news conference, or a word on the border, since being tapped to hoenl the ongoing rises 172,000 migrants tried to cross the border in march alone nearly 20,000 children, and 70% higher than month biden, 100,000 tried to cross in february, corporate america is expanding a push against new voting laws, answered they haven't read the bill obviously, dozens ceos executives from companies including pesci paypal tr royce starbucks activists reportedly on call to express opposition to what they consider discriminatory voting legislation in georgia the response to georgia's law has seen companies face boycotts from both sides of the aisle as the extreme left is -- pressuring companies, president biden vice president harris meeting with lawmakers today to sell their massive two trillion-dollar spending
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bill meanwhile, senate republicans calling it quote a job crushing slush fund, gop o memo suggests tax hikes would force companies to cut one million jobs hurting already fragile economy, transportation secretary pete buttigieg walks back claims would create 19 million jobs studies show would create 2.7 million jobs if any at all. >> south african variant of coronavirus may invaded pfizer vaccine apparently researchers find prevalence among those who received both doses of pfizer vaccine 8 times higher than those not vaccinated, this is part of israeli study was yet to be reviewed by percent. >> federal reserve chair jowell telling 60 minutes u.s. economy at inneckion point some risks remain. >> principal risk to our economy right now, really is that the disease will spread again, you know going to be
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smart if people can continue do social distance wear masks. >> i would say that we, and a lot of private sector forecasters sea strong growth job creation starting right now approximately the outlook has brightened. substantially. maria: joining me right now is bank of new york mellon investments chief strategist alisha, also with us all morning long dagen mcdowell, brian brenberg, thanks very much for joining the conversation this morning your thoughts on where we are -- in the story -- good morning. maria: i mentioned earlier great to have you, and i mentioned earlier that nancy lazar from cornerstone macro i get a lot a friend of this program on often with us talking about a melt-up unfolgdz with increasing analysts predicted growth in 2021 how do see the backdrop. >> look, we still think there is more room to go on both earnings estimates and,
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actually, real growth estimates for the u.s. and global as a result. simple if you think about what stock market the stock market action has done stock market anticipates 6 to 12 months as we know the markets been telling us, that the real economy is going to recover quickly in this timeframe for the most part we think xh.s tend to be sober don't like to over shoot estimates for the quarter up 7% from january 1, just first quarter, as we have seen real economic growth and business return, so, all in all, there is room to go are here even though there is a kind of melt-up, in expectations, we're not done yet. we're going higher in real economy. >> i love that big banks kicking off with first-quarter results this week goldman sachs jpmorgan wells fargo citibank america morgan
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stanley on tap to report this week as well, outside banks get delta air lines rite-aid united health, your thoughts on the first quarter, and i want to point out that, the first quarter does not have the easy comparisons the rest of the year will have, because, much of the economy was shut down, after march 20 or so, 2020. >> that is right, so right now, estimates are for earnings to be up 24%, and we think that you know the storms in the -- down in texas february could crimp a bit upside we so see even from here but we are expecting 35% earnings growth in 2021, we think it is going to be a blowout higher than we have right now about 173 dollars per share, for 2021 earnings. qone strong expect financials
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manufacturers cyclical sector to blow it out in fact earnings this year earnings growth, is being driven by the value and cyclical assertions growth from tech out earned by cyclical and value sector why those have been out performing for the last six months. >> let me point out nuance communications right now, is halted the stock halted on what we expect to be a deal news with microsoft we have been talking about this all morning microsoft is in advanced talks to acquire knew abs for 16 billion dollars, as a.i. firm now we see the stock is halted so we may very well have, the official confirmation on this detail coming up nuance communications up 22% right now, and halted, in the premarket, let me bring brian brenberg in. brian: a question for you on how the good news story we hear so much about gdp skyrocketing the economy opening up, i agree with all that. i think people look at say yeah, the next year or so,
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nothing can stop the momentum of reopening but our economy is changing such fundamental ways a lot of that has to do with spending out of d.c., monetary policy so you look at the near-term, yes, we opening but at the longer term picture it feels like we have an economy that is changing in you fundamental ways how do you react to that moon all money the potential for taxation should we play a longer game here than just hey the economy is going to reopen gdp is up, this year? >> it great question i think a couple things going on, first is that i think we are reintroducing an actual business cycle and investment cycle meaning that since global financial crisis of 2008 we had very, very low growth, very, very low inflation, near zero interest rates for most of that, and as a result we saw inflation asset prices, with with
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deleterious effect in real economy main street penalizing favors we have discussed this for years now the i think we are going to see the return of the business cycle, with that, booms and busts, inflation i think the big risk here is inflation. because, right now the market is buying the story that fed is selling. that inflation reads will be temporary, and that we are kind of -- we are by end of 2021 we will get back to lower rates, i think the risk that is they are wrong the risk that is inflation in fact does not move lower as expected there are real bottle necks here demands surge we don't think bottlenecks level that inflation the risk here inflation expectations move hire real inflation higher we are setting up for a possible policy mistake don't think happening yet the market is buying it but something to look out for i think you will see in yields as they move
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into the summer. >> does that combineed with the higher taxes that are coming turn a stock market at record levels into -- a decline in 2021? >> so -- we think 2021 will end fairly strong the second year of the recovery after bear market markets tend seal beach they have a tougher time, 60% off low, 70% off low not unusual one year, but the second year can by tougher, the issue on the fiscal side is that actually, you can have a tightening in 22 if you get taxes as spending takes he longer to dribble into the economy, so those taxes are enormous, and can be tightening in 22. >> come back soon good to see you. thank you so much. on markets, much more ahead coming up calls for biden
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administration to act on the border crisis former acting ice director tom homan is here taking on democrats the entire state new york congressman lee descendin joins me to discuss his can i for governor of new york you are watching "mornings with maria" live on fox business. 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. ♪♪
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maria: welcome back, taking on new york did democrat party new york congressman announcing last week he plans to run for governor of new york. saying andrew cuomo has got to go. that would be new york republican congressman lee zeldin. congressman, lee zeldin joins us right now great to see you. thanks very much for joining me congrats on news tell me about your platform for new york governor. >> we have to save our state people are fleeing the state, because of high taxes, the higher cost of living erode he had public safety rising violence quality of education many kids across the state still are not fully back in
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school but we need you to you long term do a lot more to improve quality of education in new york a lot of new yorkers parently emotionally looking for correction as you go into midterm trying to figure out which way things are going to look at who is in white house usually the other party almost always a good year this is first time in my lifetime it is one party rule. in new york city albany d.c. the democrats in charge call branches of government doing a lot to destroy that level of government so i think it is really important that there is a correction in 2022. maria: it is pretty extraordinary what is going on in new york, it is not just, that people are leaving in droves, because of the crazy taxes, and governor cuomo and legislature agreed to raise taxes, additional, really putting massive strain on people who decided you know what i am out of here i am going to florida i am going to
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texas. but put that aside for a moment you also have the crime. the end of -- cash bail, that is, obviously, caused criminals to come back on the streets, and do what they were doing and that is -- you know -- because upset in crime how do you get your arms around all of that what is the plan to correct? >> you are talking about public safety a great point, by the way, these what we're talking about here it is not feedback if just republicans you have democrats who live in new york city upset about rising crime, we need to support of law enforcement more reverse the cashless bail law instead of defunding as we've seen in new york city should be giving them all you resources to do a great job that on public safety front hitting an important point you know dagen should be able to walk charlie dog without
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worrying about, you know the violence in the streets of new york city, and as you also pointed out with regard to tax increases it wasn't even just last week created a new tax rate now highest income tax rate entire country also to look at why they did that one they got 12 1/2-billion-dollar money onbly funny money bailout from d.c. putting that aside for a moment the reason they increased taxes to pay for multibillion-dollar fund for people who he aren't even legally in the country an so many levels our priorities are so backwards. >> incredible kag-nice shout-out for charlie dog we like that thank you for that. dagen: thank you. maria: you still walking charlie dog with all this crime, and -- dirt on street dagen you have been vocal about all of that. dagen: people who are stuck here, who are residents they
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have no choice. but i do think -- and i don't want to get in middle of terrific interview but listening to joe biden he propose restrictions on gun ownership last week the second amendment doesn't exist in new york city. and so it literally leaves law-abiding residents with no way to protect themselves, and their families. maria: with that is so upsetting, exactly congressman i mean like i said yesterday, who voted for this? who voted for wide open borders out of control spending, for the potential of packing the supreme court? for four trillion dollars in tax increases? it is actually extraordinary. now gop is estimating that joe biden's proposed 2.7 trillion-dollar spending plan will cost u.s. at least one million jobs. your thoughts, on this out-of-control spending you are seeing on federal level,
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and the giveaways to states like new york and california got money from spending plan, but still raised taxes anyway. >> al bapy asked for 15 billion dollars got the 12 1/2 turn around jacked up spending increased taxes, i would say that joe biden didn't get elected for any type of a mandate for court packing, for example, because he promised you know he was telling the american people the opposite position, same with many other aspects of the border even though rest of us are talking about hey, this is i consequences if you go this direction with your vote, the biden campaign spent most campaign getting away with being in their basement not answering tough questions of the press so he wasn't properly vetted to the first part of your point who is voting are for this, here in new york city as we talked about the impacts on taxes, cost of living public safety
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education, bill de blasio getting elected reelected with incredibly low turnout so you know the who voted for it almost nobody. most people aren't actual getting involved in the process. maria: yeah, by the way, kamala harris you know, one point said that she would be comfortable doing cashless bail across the country so we know what it has done to new york taking that across the country, i don't want to think i where that is going, before you go, do you need corporate support in this run for governor? because what is your take what is going on with companies really letting down the american people with this activist movement, going against the georgia law even though there is nothing the restrictive they are rolling over for activists. >> i think important for businesses to be a shooting straighter here speaking the
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truth calling out officials ideology even if in power to do so we saw new york aoc others pushing amazon out supposed to be big investment other businesses watching that deciding not to move to state i think you important to improve business climate in new york so businesses don't leave important for corporations to shoot straight. >> congressman good to see you. thanks very much we will be watching congressman lee zeldin. we'll be right back. (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible,
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maria: welcome back, georgia new voting laws still a point of con detention for many companies more than 100 ceos reportedly held a weekend he phone call to discuss the legislation, and how they can call for gratder voting access this prompting critics to
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question if business leaders even read the bill. georgia congressman buddy carter joined me last are you aware hour here is what he said. >> all of this is just ridiculous there is nothing more than lies and misinformation being spread, by joe biden, by the democrats, raphael warnock, stacey abrams they say oh, no you are taking all-star game out georgia? how will have a well, because of your misinformation, lies that they are doing that thank you very much. >> yeah, it is really a great disappointment, to see how these companies are letting down all of us letting down american people, dagen one point that really needs to be made is while these companies including the mlbh had nerve to attack georgia for voting laws when the voting law is not restrictived at all but pivotal fine to go do business in china. where beijing and the
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criticism cp has human rights abuses one million, uighurs ethnic minorities locked up human rights abuses, intellectual property theft bullying neighbors bullying taiwan, they are fine with all of that but georgia? oh, no georgia is not good. dagen: hypocrisy here, there, everywhere, and bringing back home, what are all of these ceos going to say about the voting laws that exist in here blue states karl rove writing about this last week georgia has no excuse absentee voting by mail, no excuse needed. new york doesn't, georgia has robust early voting, early voting period, the new law expands it to 17 days. with two optional sundays, new york 8 days early voting, neighborhoods connecticut, new jersey have nonso if going to get upset about new laws, in
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red states in conservative states they are going to need to speak up. for about all the voting laws across the kin as ceo ask yourselves how does this help my employees how does this help customers at the end of the day how does it help the shareholders "wall street journal" as it wrote last week pointed out ceos playing into hands one of republican party growing anticorporate wing, already making hay with big tech free speech restrictions the harm acruz to shareholders at the end of the day they expect overseas and corporate leaders to act in the interests of the shareholder. and they are not. maria: yeah, i i mean i thought that was a good op-ed last week ceos versus shareholders, brian at this point should we call this extremists ceos? i mean it is pretty extraordinary what is taking place here.
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brian: what they are doing is reacting to extremists this is woke left wing social media making an uproar the press running with it and amplifying it ceos reacting to this leaving customers leaving everybody else behind the rest of the country looks at this says who are they talking to who are they reacting to, by the way, reaction from ceos has been condescending they pulled oust critiqued what is going on don't bovrt to -- the to what is the problem here they don't republican customers enough, to talk about what they are really upset with, i just think that is whos they care about, and who they don't who they are responding to, it is not the average customer they are serving. maria: no, it is not it is not employees either we will keep watching this. we'll be right back.
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maria: welcome back. good monday morning. thanks for joining us. i'm maria bartiromo, it is monday, april 12 markets ahead of the opening bell futures under some pressure this morning dow industrials down 40 nasdaq down 36 s&p 500 down 5 and quarter, all this first-quarter earnings kick off this week beginning with major banks cornerstone macro calling it a consensus melt-up unfolding analysts predicting growth second half of the year take a look uk opening more outdoor venues for the very first time in months, as it takes steps, out of the lockdown and into reopening, ft 100 down 14, cac quarante up 8, dax up 15. meanwhile, in asia overnight market finished mostly lower led by china shanghai composite down better than 1%, we do have breaking news right now, just hitting the tape the official news out the microsoft nuance deal now
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official 19.7 billion dollars deal is the total number including debt microsoft will acquire a.i. firm nuance 56 dollars a share why stock was halted a moment ago nuance shares up 22% microsoft sheers down a fraction this morning, on this news hitting maryland first state in the nation to a repeal police bill of rights gerri willis with details. >> good morning that is state state lawmaker overriding republican governor larry hogan's veto of the reform bill that gives civilians a role in the police disciplinary process the new law will also require officers to use force only if it is necessary and proportional paternal order saying reforms too drastic warning bill could have significant impact on hiring retention of law enforcement in the state. >> and businesses may have
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then a hit 2020 median pay for chief executives more than 300 biggest u.s. companies reached 13.7 million dollars last year, one of those being a ceo of norwegian cruise lines despite cruises on hold the report says del rio's pay doubled to 36.4 million dollars. and bowing to beijing, jack ma ant group will apply to become a financial will holding company overseen by china's central bank, the move comes after company representatives were summoned to meeting with chinese regulatory agencies, box is off back godzilla versus, the highest grossing since part of pandemic 13.4 million dollars over weekend nearly 70 million overall. maria. >>. maria: all right, gerri.
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thank you so much gerri willis migrants surging the border with large group detained in texas over the weekend, arizona attorney general calling for biden administration to witness this crisis firsthand, in an exclusive interview on "sunday morning futures". >> well, i think it is important for federal officials to actually come to the state, to see hear feel what is actually happening on the ground, those are actually very similar words kamala harris said when running about the need to get out, so, i -- i am encouraging whether vice president or secretary becerra to come here talk to border patrol agents find out what is going on. the biden administration, i think has fundamental misunderstanding of what the role of the federal government is. >> joining me right now former acting director u.s. immigration customer enforcement tom holman a pleasure to have you thanks very much for being here, you witnessesed witnessed
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participated in what has become a real crisis at border why isn't biden administration doing anything about it? >> because they don't want to, i have said for months this is by design when president biden made alls promise during campaign we are going to give you amnesty daca, you won't be detained moratorium on deportations, stop ice enforcement regulations -- we said those things doesn't take today border exercise this is open border design i said it president biden told sold out to prf left to win election this is open borders what it looks like why leadership not heading down there ka, hhs secretary, or president, because -- it would hurt their false narrative why going down there, could go down see plan coming together perfectly on open borders.
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>> it is just extraordinary when you see, the stories of children jammed and crammed into these facilities, you know, in the donna facility, the capacity was 250 people, they've got 4,000 people crammed in there, this is -- this is -- we're showing pictures when i went to border april 2019, today things are so much worse, because biden walked in the door january 20th, and immediately overturned trump's policies now we are hearing that sending cash payments is the answer, to stem the migration borrowed czar told reuters friday the administration is considering a conditional program, jacobson declined to provide details told reuters government won't be quote handing out money or checks to people yet they are considering, sending money to central americans as incentive to not show up then announced
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she is stepping down from her role at the end of the month vice president said to take hell the southern border your thoughts on this program? to send money to central americans. >> first of all, her stepping down, she should. . what has she done. >> done nothing, comashing the issue on the border, exacerbate the issue, that is single most dumb idea i have heard in entire career they are going to turn around take cash, hire alien smuggle to get into united states now going to finance criminal conspiracy from here down there, taxpayer monday u.s. taxpayer money given to hire an smug already what point this is foolishness why don't we pay u.s. citizens money so they don't break the law this is rooildz the biden administration can do already spend billions of dollars
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thousands did he tepgs facilities so he willsource contracts to biden administration 7 hundred million dollars on facility in donna spent billions what they can do with biden administration to do in texas is innovative the law innovative the law on books like president trump disillegal immigration, down to 70, 58% depending what month you look at you don't have to spend a penny open up remain in mexico program let agents actually enforce the law ice actually enforce the law they have been decapitated the answer to this crisis let men and women of law enforcement enforce the law in our border. >> well you also have, you know the fact that the funding we are understanding is going to stay flat. you know. one of my sources told me that there are a number of border agents who are coming up for retirement, they are going to leave, and we don't hear any reports that they will be you
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replaced, so you are talking about your agents being able to control an out-of-control situation. >> again, by design, i went down there been down there several times border patrol agents everyone i spoke to not most every border person i spoke to las the respect from commander in chief lost respect in secretary why commander in chief stayed on national tv in a speech said other administration watched children die of star vacates standing on banks of rio grande he is talking about men and women border patrol put their lives on line men and women saved over 4,000 lives loss had the complete respect in president, they even have secretary on national tv saying border is secure closed there is no crisis the men and women they've lost respect for leadership because they are dealing with this crisis every day, in biden administration wants to say their policies are more humane. no, they are not think of
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caused over 18,000 family separations parents chose to put kids in hands of criminal cartels to get into united states open border policy of biden administration children died 31% women being raped we saw provides of children dump over the wall children drowned other day, woman and two children reas you say tated all of them, this is not a human policy only human i saw on border the men and women, treating family and a children the only how aain i saw. >> joe biden other day said we spent most back, we're not spending most back being. >> no. >> another lie, bald-faced law
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why seb money to people, you don't send monday trying to scrape interest persecution you send money the biden information recognizes economic migrants classically don't equally for incentive laws we know 90% central americans don't give to u.s. government don't qualify don't show up in court what is the answer in "catch and release" and money reminds. >> very disturbing came in younger trump part times because they don't like trump, and created a massive crisis, and it is filtering throughout the country right now. tom good to see you we will keeping watching putting a spotlight on it tom holman joins us. we'll be right back. (judith) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (judith) nope, we tailor portfolios to our client's needs.
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maria: welcome back. paying up at the pump national gas prices 14 cents away from reaching 3 dollar average over 85 cents higher than a year ag-oil demand tumbled the start of the coronavirus pandemic, analysts now are looking towards the summer, as demand for travel and reopenings could push prices even higher joining me right now gasbuddy.com petroleum analyst patrick, great to see you. thanks very much for joining us, what do you think is behind this move in oil and gas? >> good to be with you, maria, well a lot of what we've been seeing is america returning to normal. americans getting out on the road filling up vehicles
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demand for gasoline higher, prior to last week six weeks straight increase we did see demand buckle a little bit because easter pushed things up a response we are ringer to normal oil companies trying to catch up with the recent surge just like airliners are now just adding pilots flies flies coming back fast and furiously cost 2.58 a gal, 2.86 a gal doorstep of 3 dollars a gal we could push that level at some point. >> patrick i am wondering about leasing of gas when xl pipeline was forced to shut down, a lot of states and their legislature said look, if we're not going to be to derive half revenue from
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leafing of federal land in states we are going to see gas prices go up, and i am wondering if policy is also part of this. >> well it certainly will be in the future, i would note with oil producers are producing 2 1/2 million barrels less of crude oil every day than before pandemic keep in mind like barrels grandfathered in permits issued really oil companies to return production but absolutely the fact moratorium on new drilling on federal lands, something that will affect prices in the neuter if we have another three years of the biden administration, tightening rules against the cost of fuels industry we could see higher gas prices are likely to as we continue to move on. maria: yeah, just one more policy brian brenberg going against the interests of the american people . brian: yeah, i think it is so similar to the story of the overall economy in short term you know we look at economy say gdp going to be way up because it is a demand story, same with oil and gas the
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short term prices go up you because demand story but longer term question where do vests happen? who has confidence in this environment to make long-term investment to expand capacity when you don't know if you can get a permit patrick you don't know what kind of recreations are involved in trying to build infrastructure, or facility, it seems to me that that he longer term story is more uncertificate than ever when oil and gas. >> absolutely as mentioned some publicly held pensions getting out of fossil fuel sector because doesn't look as good eventual turning against supply and demand oil producers are obviously, going to feel the impacts down the road, of course, whatever oil companies feel the pain, are that is something consumers will feel as well. you look country the road several years, if permitting impossible oil companies not allowed to meet that demand for american consumers essentially going to pay more
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at the pump as a result. >> great insights as always thanks very much patrick we will watch markets, a new design to airplane cabins could make your next trip more comfortable wait till you check this out making a buzz this morning stay with us. lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones. incomparable design makes it beautiful. state of the art technology, makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $349 a month for 36 months. experience amazing at your lexus dealer. challenging times are nothing new. neither are resilient people.
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maria: welcome back. time for morning buzz flying a different style crystal cabins awards new design concepts to solve problems on airlines they say modern illustrations coffee shop light cappins coworkstations swivel chairs economy seats adons electric commuter jets, it feels to me like almost like what you see sometimes on amtrak, do any of
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these designs work on a plane though? >>. dagen: no, no, no, no, no no, no. to quote don logan, no, no, no, no, no. i don't want to to face somebody, on a plane, these are the seats that you try to avoid taking. when riding on amtrak, you are sitting across from some stranger, i don't because then starring at him you have to make conversation i would rather -- i would rather hide in luggage rack. >> it is true, i like to go to sleep on planes brian how about you. brian: what i wanted a seating arrangement people can't tell my kids are my kids. dagen: lawyer lawyer. >>. brian: don't say dothing about this i want a break from that whatever to have you do to make that happen i am in on that. maria: put kids around the table, you sit in first class make them fly coach nobody will no. >> they will love that. >> that will do it, all right
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more mornings morning live on fox business right after this. ♪♪ ♪ ♪♪ 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. ♪♪
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maria: welcome back. morning mover, nuance communication, microsoft will acquire this company for $56 a share with the total valued at 19.7 billion including debt. microsoft says it expects the deal to close this year and as you see the shares are up 23% with microsoft shares up a fraction. dagan, brian, final words. dagen: brian, you go first. >> on watching the conversation on of the structure and taxes this week and i think this is going the wrong direction for the biden administration and i hope critics keep
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pressure up because there's a not-- a lot not to like if you want to see that the economy recovery. dagen: i'm shocked by the number of falsehoods that come out of joe biden's mouth like guns and buying guns at gun shows and how you don't get a background check, that is a lie and i'm looking at out for how many more he tells this week. maria: you are right, jim crow 2.0 another lie. great show, have a great day. we will see tomorrow. "varney & co." begins now. take it away, stu. stuart: good morning. as we start the new week , there's clearly a new mood. click at this for starters, hideki matsuyama won the masters, thousands of people lined the greens, almost back to normal masters played again in early april with big crowds. that's a change on the positive side. america's wildly successful vaccination drive continues, 4.6 million shots administered saturday

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