tv Mornings With Maria Bartiromo FOX Business April 20, 2021 6:00am-9:00am EDT
♪ larry: my friend tony fauci is a good guy, but now he's saying over the weekend as long as there's any risk at all, we may have to wear masks forever. even with the vaccinations. tony, there's always maria: good tuesday morning, everyone. thank you so much for joining us. i'm maria bartiromo, it's tuesday april 20th, your top stories 6:00 a.m. on the east coast. former president trump slamming president biden's border policies in his first on camera interview since leaving the white house. trump telling fox news and sean hannity, the crisis could, quote, destroy the country. markets this morning are lower. indicating drop of triple digits ahead of more corporate earnings setting the tone. nasdaq down 52 and s&p 500 right now lower by 16. after the dow, the s&p and the nasdaq all pulled back
yesterday, dragged down by weakness in technology at the close, the dow one 123, nasdaq down 137 and s&p lower by 22 at 4:00 o'clock on wall street. european markets also pulling back. take a look. negative tone here with the ftse 100 down 60, cac down 82 and dax lower by 121. in asia asia mixed story. ♪ ♪ maria: now some of the top stories that we are watching this morning. former president donald trump slamming the biden administration over failed border policies in a fox news exclusive interview his first on camera since leaving the white house. watch. >> we were doing so well. all he had to do leave it alone.
stay in mexico is a big deal, contracts were there, the material was there, it was going to be done quickly. maria: border crossings have reached record high since president biden took office, 172,000 migrants tried to cross the border in march alone, that was up from 100,000 in february. china's president xi jinping calling for a, quote, fairer world order, the chinese leader saying two few countries hold too much power and calling for reforms and global governance all while not mentioning the united states by name. this comes amid growing tensions between china and the united states over issues spanning trade, technology and human rights abuses. meanwhile president biden says he will work with both sides of the aisle to pass his massive 2 and a quarter trillion dollar spending bill, the president reportedly also working on new tax increases op wealthy
americans to pay for the second phase of the spending package. i've been telling you to expect this for some time. marginal tax rate up to 39.6%. we will hear details within the next two weeks. white house reportedly also looking to cap nicotine levels and cigarettes and may ban menthol cigarettes altogether. fda has until april 29th, while nicotine itself does not cause cancer can make smoking more addictive. take a look at tobacco stocks, down 2%. earning season ramps up. united airlines, ibm, among those reporting better than expected results. ibm shares certainly a highlight, another busy day for earnings. johnson & johnson, proctor and gamble and traveler's group will
be out before the bell this morning. netflix closed watched. joining me potomac wealth adviser mark avalone, fox business dagen mcdowell, j. thank you so much for being here. mark, kicking it off with you. tell me how you have viewed earnings so far, what kind of a quarter are you expecting and what's the impact on stocks? >> earnings have been strong, earning estimates have crushed. the highest percentage since 2010 of company beating earnings, it's well over 80%. we expect that to continue. it's good news but let's keep it in perspective. last year was such a bad quarter, such a time bad, companies didn't want to give strong visibility and guidance but nevertheless these are massive beats. we expect the same q2 and q3. the further we go out, it's a little more uncertain but the back drop, backdrop that was set
in the prior administration of low regulation, the current low tax scheme, this strong earnings trend, the consumers bursting to get out and spend, businesses needing to meet demand across the board, we expect earnings for the year to meet the expectations. maria: mark, all of that is going away, we are going to get higher taxes in pretty short order. we have joe biden talking about taking the corporate rate all the way to 28%. he's now open to negotiating to 25%. we are expecting individual rates to go back to highest levels of 39.6%, capital gains taxes, also regulatory environment, does that put a damper on all that you're predicting in 2021 and 2022? >> yes, i was careful to talk about this year. everything that you mentioned is on the doorstep but it will take time to implement. in fact, so i'm in total
agreement with you and i hesitated to go into next year. the positive outlook out of congress is this soft cap limitation debate. the fact that now the democrats are divided on an issue is going to stall this massive infrastructure, it's going to gum up the works on a lot of other legislation, i don't think they will steam-roll through the trilogy of higher regulation, higher taxes which is going to lead to -- government spending which would lead to inflation. that trilogy of events is dangerous. but i think it's going to slow down because they will have internal debate and they are also smart enough to want to be reelected. the closer we get to reelection, the less likely we will see any legislation that hurts nancy pelosi's chances of being reelected house speaker. maria: and sources tell me that it's hikely not going to be retroactive. we will get the higher tax this is year but it is likely they will be implemented in 2022 as
opposed to retroactively 2021. having said that right now backdrop, low interest rates. powell said that even with fears on inflation on the rise. let me bring in jon hilsenrath here. jon, the central bank has not changed its tone. are you expecting any change of tone in the upcoming meeting next week, does that change the backdrop in your view, jon, to what has been a strong recovery? jon: it has been a very strong recovery and i do think that we will see over the months ahead the fed changing the way it talks about a few things. they're not going to be raising interest rates for a while but they've got this big bond-buying program and at some point they will have to start talking about, well, when did they stop buying all the bonds and pumping hundreds of billions of dollars
more into the economy. that could be a hiccup for the bopped market when it happens. you know, two, three more really good jobs reports and i think the fed might have to be in a place where it's starting to talk about the bond-buying program and that's the first step of the fed pulling back that the market is going to wake up to. if we are going to see it, it's going to be subtle at first because jay powell remembers what was called the taper tantrum in 2013 when the fed stopped -- started talking about -- talking about pulling back the bond-buying and the market blew up on it. so that's what i think we have to look out for. just some hints that they will stop doing that. interest rate increases i think it's still ways down the road. maria: mark, what about that? what jon is saying, larry lindsey joined me 2 weeks ago, chairman of the lindsey group,
former chairman of economic advisers under president bush and he said we will see the ten-year up to close to 3% by year end just based on what jon is saying that talking about it, the language may very well tighten things up. >> i'm not sure i'm in the camp at all and i think there are some structural headwinds against higher rates and i realize the spending spree out of washington is inflationary but we have an aging population, that dampens inflation, you have globalization, less union automatic wage escalators in our economy, so wage pressure is down and you have ever present technology across industries making business more efficient and finally businesses are having trouble passing along increases. so i gee that spending is inflationary and the fed will change tone, but they will not act because of the unemployment
structure and i think year over year inflation, when all the headlines go away and we look at the year over year number, it's going to be the near 2 plus per can he be the range that powell is comfortable with and the fears is unwarranted. maria: that should be good news for stocks in 2021, mark, great to see you, thank you so much. >> good to be here. maria: mark avalone joining us there. morning mover is ibm, up 3% after better than expected results last night. highest sales growth in more than 2 years. strengthening the cloud business, driving the increase, ceo ivan saying he's confident the company is on track to meet fully year targets. ibm certainly a positive in the dow industrials this morning. we are just getting this started, coming uptaking on governor cuomo, facing another scandal, wait till you hear this one. next hour texas congressman
talking about the border crisis and how the administration is now walking back president biden's crisis comments. in the 8:00 a.m. hour former trump deputy national security at visier kt mcfarland with me on global threats as chinese president xi jinping makes clear what he wants on the world order. mornings with maria live on fox . because every day matters. and having more of them is possible with verzenio. the only one of its kind proven business.lo
adam, thanks very much for being here. your thoughts on this investigation, what can you tell us about this accuracy and media's new billboard? >> well, his behavior consistently throughout the pandemic has been morally outrageous and this is what happens when the media doesn't speak truth to power, when the media doesn't hold politicians accountable. they think they can get away with anything and we will not let him get away with it. history has been written by better or for worse by the winners and we can't have people thinking, wow, the governor of new york must have done such a great job during the pandemic that they gave him an emmy. maria: having said that he's not going to step down, that the people put him there and that would take him out if that were the case. what are you thinking in terms of his chances of reelection? let's say he survives all of this, what about reelection in
your view? >> well, it's hard to say because looking at the polling numbers in new york, they're not as unfavorable as you would expect in a polite society. what i want to know where is the cancel culture mob on this one? we have seen people lose their jobs, resign, publicly apologize for jokes they made on twitter years ago, this is a man who is engaged in unconscionable acts who has been engaged in a cover-up, under federal accusation, nearly half dozen women accusing of sexual assaulting them. where is the cancel culture mob and why aren't they calling him out? maria: well, we are also waiting on results of this investigation into the nursing home scandal, why the directive was put in place to put the elderly in nursing homes. the elderly with covid in nursing homes and we saw all of those deaths. when are you expecting all of the timing to become clearer on
that investigation? >> oh, we don't know and it's always interesting, you know, cuomos are known for making bad decisions. we joke at accuracy and media of who is going to win the worst cuomo of the week award. it's always a close contest and i can understand, i guess, that politicians make bad decisions and put forth bad policy, i understand that, maybe they had the best of intentions but to engage in a coverup like that, it also really speaks to privilege. we always hear about privilege, white privilege, progressive privilege is engage in policy so bad that they result in thousands of deaths, you cover it up and you get to write a book about leadership. that's progressive privilege. maria: let me ask you about the white house press secretary jen psaki said yesterday that president biden misspoke when calling the ongoing swell of uncompanied minors at the
crisis, psaki said there's a crisis in central america but there's not a crisis at the border, your take? >> yeah, sounds like there's a crisis in the white house. again, it kind of speaks to progressive privilege that a major dries sis is unquestionably happening at the border and biden didn't take any swift decisive action at all. when the pandemic started, the media was lambasting trump for not acting quick enough. imagine trump if he had directed management to vice president like joe biden to kamala harris. biden views the white house as nursing home, he wants to relax, lay back, delegate things to other people and briefly acknowledges that a major crisis is in fact a crisis, he backs and says just kidding. maria: they refuse to admit that
biden's overturning of immigration policies have led to a much worsening situation. there's no way to see it any other way. it's -- they still will not call it a crisis. it's incredible, jen psaki saying it was a misspeak on president biden's take. all right, adam, adam, we will keep watching and have you soon to catch up. thank you, sir. president trump sounds off, what he had to say about the border crisis and taking back the house. plus, what would you do for a year of free burgers, the deal california chain is offering, it's making a husband this morning, stay with us. ♪ ♪ ♪
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maria: welcome back, president trump and his first on-camera interview since leaving the white house joined sean hannity last night on fox news. he went over a slew of issues, importantly the crisis at the border and what can be done to fix things now. take a listen. >> we had it so tight, we were doing so well, all he had to do is leave it alone. stay in mexico is a big deal. that wasn't easy to get. we went through court systems, we went through everything. the wall, getting the wall built and the wall, we were up to almost 500 miles and completing it was very easy. that was going to be just routine. it would have been done routinely, the contracts were already there, the materials were there and got delayed 2 and a half years because we were sued by nancy pelosi and congress not to build the wall. i won the suit, we won everything and then they don't
finish the wall. the wall is imperative. all of the things that go with the wall, the technology that goes with the wall is imperative. maria: all right, the president spoke with sean hannity last night and it's hard to argue, jon hilsenrath, that the 3 main things that joe biden did when he walked into the white house is completely to blame for the surge, stop wall and stop remain in mexico and catch and release. jon: i don't want to argue about this but there are a lot of factors at play. as the journal has reported, why are people coming from central america and south america, mexico, you know, the economic situation in a lot of those countries is really bad and i think that's contributing to it, also natural disasters that's driving people.
the other issue is that the u.s. economy is getting stronger and when the economy is getting stronger, we have seen a lot of single males coming from central america looking for work which has been a turnaround that started last year and continue intoed this year. so i think it's a complicated situation, certainly joe biden's election and some of his policies have contributed to it but i think there's a lot -- there's a lot in play at it. maria: well, the president was pretty clear, dagen mcdowell, during the campaign that he wanted to have a surge at the border, he wanted to ensure that we were taking care of the people who were coming to america and they heard that, loud and clear. also the fact that the president said if you come here and you have a 7-year-old or younger was pretty clear as well because from that point on, we saw fewer males that were alone and more, quote, unquote families with
7-year-olds or younger. and by the way, they are renting those kids. dagen: well, i think that what was most telling, you played the sound of jen psaki saying that president biden misspoke and calling it a crisis and anybody watching the video coming from these detention centers where children are being kept, you know what, it's not a school, how does this play into the midterm elections. maria: right, the president spoke about the 2022 elections as well and the future of washington. here is what he said. >> we are going to take back the house in '22, we have a real chance. we were supposed to lose 25 seats. i got involved. i called 56 different districts and we ended up 16 instead of --
>> all 27 tossup races before the election went republican, all -- >> we didn't lose one seat. maria: dagen. dagen: the issues that will play into the midterms that the republicans will try to take advantage of, you're already starting to see that. it would be the crisis at the border is there any improvement there. it will be a crack-down on people's second amendment rights, it's not just the executive orders, maybe more coming from the biden administration but also the fact that president biden gets up in front of the nation and says that you can go into any gun show and buy a gun without a background check. well, that's just not true. that's not true. any federal firearms license dealer must do a background check, period. ffl's do background checks at gun shows, done with that. so second amendment also packing
the supreme court trying to at least make the high court a second legislature, if you will. the issue seems to be stacking up because the democrats, they do control the house by a narrow margin. it's a tide senate with kamala harris with breaking vote. they do feel embolden. the fact that they are talking about things that are far afield for somebody who is middle of the road, that's going to hurt them. the democrats in the midterms. maria: while president biden kept saying unity this, unity that during the election, there hasn't been much unity at all. they've pushed through massive spending plans through executive order or through reconciliation and it is likely that the next big tax increase goes through reconciliation. we will talk about that coming up. all in the face of china rising, we will take a break and come back with china's world vision.
maria: welcome back, good tuesday morning, thank you very much for joining us. i'm maria bartiromo, tuesday april 20th, a look at markets this half hour, where we are, looking at weakness, futures indicating a decline at the start of trade ago midst a whole new slew of corporate earnings this morning. dow industrials down 116, nasdaq down 39, s&p 500 down 14. yesterday the dow pulled back as well. the dow, the s&p 500 and the nasdaq all finishing lower at 4:00 o'clock on wall street dragged down by weakness in technology, dow industrials down 123 and nasdaq down 137 and the s&p 500 yesterday down 22. the weakness continues in europe this morning. take a look at the european
indices here where we have the ftse 100 in london weaker by 62, cac quarante in paris down 75 and the dax index in germany down about 100 points. in asia overnight, more of a mixed story. japan was the worst performer, nikkei average down almost 2%. johnson & johnson earnings are out there just hitting the tape, let's get to cheryl casone with the details. cheryl: let's take a look at the stock right now, fractionally higher, it is a dow component. it was a double beat for johnson & johnson, estimate for earnings per share, 234, they came at 259, they beat on revenue. they came in at 22.32 billion. they increased their dividend by the way by 5%, dividend increase, if you own shares of j&j good news for you and also increased full-year guidance for the year, 2021. they are giving us a update on vaccine sales as well. vaccine sales coming at
$100 million for johnson and johnson and, again, we are looking for any details we get, of course, on the pause that's probably going to come up. but obviously investor interest for johnson & johnson is going to be the pause of the united states and other countries and real quick, i will move onto other headlines, maria, i do want to say overnight news on j&j, the french minister say they will maintain j&j contracts, so that's a europe story. 12eu countries are staying with johnson & johnson's vaccine and pushing to get a new trial done in india. that's the news on dow component j&j. looking some other headlines that i'm watching for you, maria. the jury is now deliberating in the derek chauvin trial but the judge in the case if convicted chauvin may have grounds for an appeal. listen to. this after california congresswoman maxine waters told people to get to the streets and, quote, get more
confrontation if chauvin is acquitted and the judge commented on that and wishes the politicians will stop talking about the case. chauvin can have grounds for a mistrial according to the judge because of maxin waters comments. former presidents remembering mandel, served as president jimmy carter's number 2 from 1977 to 1981. campaign that year naming a woman. calling invaluable partner. walter mandel was 93 year's old. the story we are watching for you, maria, parler is back, apple will put friendly social network back in the app store and forced offline after the january 6th capitol riot. apple approving proposed updates which lines with terms of ceo.
ceo has worked with app to put systems that will better detect unlawful speech. and then there was this, largest resorts in the las vegas strip ready to make debut. resort world las vegas, sin city's first resort built to ground up in over a decade. it's got 3 hoe toles, more than 40 restaurants and 5 and a half acre pool and spa complex, yes, please, and the property costing $4.3 billion to develop, maria, it's been under construction since 2015, of course, paused a little bit during the pandemic, but vegas is back, maria. those are your headlines. maria: i love it. thank you so much, cheryl casone, meanwhile china's vision of a, quote, fairer world order now, chinese president xi jinping criticizing some countries for building barriers and decoupling he says saying too few countries hold too much power. he's calling for reforms and
global governance all happening in beijing's version of davos and did not mention the united states by name at all. joining me retired four-star general and strategist analyst jack keane. always a pleasure to see you. it's funny to hear x injinping few countries with too much power. your reaction from what you heard from the chinese dictator? >> certainly what's happening here president xi doesn't like the international world order, that's pretty much governed the post world war ii era, like-minded democracies came together to do that and what they've been trying to do is prevent the world war iii that destabilized the world certainly back in world war ii and create as much as economic prosperity as possible and the truth is those systems have lifted off boats and -- and any people have prospered as a result of it. he wants control and it's kind of rich that he's pushing back
on hedgamony, those are his words and not mine. he's seeking hedgeamony and he has 350 to 300 maritime militia ships in major fishing areas in south china sea, for what purpose, he pushes them in huge groups and militarized by the chinese military and they deny the political means, -- philippines, vietnamese and encouragings he's making in taiwan. 2020 was the most active year in violating taiwan's air space ever and now he's doubled in 2020 by actions that are taking place in the first few months of '21.
this is -- maria: yeah. exactly. but, general, these are really dangerous times right now that we are living in and it feels that this administration is being tested from all ends. you mentioned xi jinping and china. they are circling the wagons around taiwan making the world understand clearly that they believe taiwan is a part of china and they look forward to the reunification, those goose steps of the police on the ground in hong kong, that picture is chilling to see the chinese police walking the streets in hong kong with their goose step the way they do in china. you've also got russia circling the wagons around ukraine. the iranians digging in saying they are not going to stop the enrichment of uranium, all of this happening right now. your thoughts on where we are. i spoke with devin nunes about it. congressman down's is the ranking member on the intel committee and here is what he said about current foreign
policy. >> the biden administration seems to be going under the policy instead of like ronald reagan used to say peace through strength. i think their policy is speak loudly and carry a twig. but i also think the conventional wisdom here when you look at china, russia, iran, what's happening in afghanistan, is that the conventional wisdom in this town is that, well, the russians are just bluffing, oh, the chinese will really never take over taiwan. look, when our adversaries say things lie jinping says that taiwan is part of china, we ought to believe him. what happened in alaska, our people being dressed down is quite simply unbelievable. maria: general, your thoughts on policy right now with all of these threats? jack: well, certainly our adversaries recognize a new administration here who has a very ambitious domestic policy
certainly and we have seen that play out in the last several months and they are about taking advantage of the united states in any opportunity that they possibly can. and certainly president xi is doing that. he's clearly testing the biden administration. i think a lot of the rhetoric and the meetings that the biden administration has had in dealing with china and accepting president trump's tough stand is in the right direction and i know those are words and actions are going to be the determinant in terms of what the policy execution really is and that's yet to be seen but the fact that we met with the japanese new prime minister and we shared a common view in terms of china's aggression in the region an supporting taiwan, those are good things. in terms of the russians, listen, so our viewers understand, what putin is about is developing his own sphere of influence to regain control over the former soviet union states.
his problem is, many of them are already a part of nato, but he puts pressure on them in the baltics, he puts pressure on all nato countries and significant pressure on belarus with troops in there, not a nato country and significant pressure obviously for a number of years since 2014 on ukraine. now he's menacing ukraine with troop build-up and interesting in control of the black sea and the media is not completely focused on that. we frankly don't have a black sea strategy in the united states and we have to put something together here or that international body of water is going to fall you should the orbit of the russians. and also he's using the troops at a minimum, as a coercive military demonstration to separate ukraine from the west. and because ukraine wants to move towards economic integration with the west and also integration with the political military alliance of
nato. putin wants no part of ukraine moving in that direction. a lot of what is taking place here is to shut that down. and let me tell you, maria, the europeans are not pushing back. so he's having -- he's making some progress and i think in the middle of all of this president biden offered him the opportunity to have a summit. now, we all like to have summits between world leaders to be sure but i think putin sees that as a sign of weakness to be frank about it. maria: yes, of course, he does, and we need a summit with the europeans to ensure that we are all on the same page against the threats. so far it's questionable where the europeans are in some regard. general, we will keep watching a lot of this. a lot of threats, we certainly are in dangerous waters. general jack keane, thank you very much, sir. jack: great talking to you, maria. maria: we will see you soon. coming up pandemic reinvention, how the past year forced business own toaster get
maria: welcome back, reinventing the business model, one chef adapts his work as the pandemic forces his restaurants to close, he will tell us the new way he's bringing in his cooking to customers in a few minutes time. during the course of their disease around 50% of people with parkinson's may experience
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maria: welcome back, reinventing the work life. when chef alex was forced to close his restaurant, dallas&jane, he began online cooking classes to keeping business thriving with home-delivered meal kits. made south, aelects, great to have you. >> thanks, maria. maria: congratulations on how you have been able to adapt. tell us the story and how has the reception been? >> sure, i've been doing meal prep since 2017 and when i open dallas&jane, we put that in the back burner. people don't want fine dining in styrofoam boxes. i stopped for a little bit. about 3 or 4 weeks and figured out what the next step was and decided to start back the meal prep. really as just an immediate need
for cash and sales to fix our overhead and people started ordering it and slowly month after month started evolving and turned itself into a profitable business. maria: that's fantastic. so what does it mean in terms of the way you pivoted and how your staff pivoted because people were cooking more at home during the pandemic. i could totally see how it would resonate. what's the business model? >> so as someone who is highly motivated by physical fitness and exercise and nutrition, i really wanted to be able to deliver a quality product that was nutritious, delicious, healthy and convenient for people. and so a lot of people were cooking at home but don't enjoy cooking at home and going to the grocery store can be a bear and we started coming up with
recipes that were protein dense, we cooked all those from scratch really fresh ingredients, the highest quality we can get and cool it down, weigh each item and put a label on it. you can order online and we are also open 6 days a week for grab and go. so a lot of people get their week's worst of meals here with us all at one time and take them home and put them in the refrigerator. that's it. maria: how will you continue to reinvent after the lockdown. do you see yourself opening another restaurant or have things change in terms of the way you operate? >> i think things have changed a little bit for sure. i got to spend more time with my family that i did not get being a fine-dining restaurant owner. this has allowed much more of a balance, i guess you could say but i do feel like this model is scalable. i feel like there can be
multilocations. i think this is a product that people need. it saves people time, energy, money, it delivers something that a lot of other meal prep companies don't do and so i really enjoy the fact that this is beneficial to the community and i love being able to give something that can be so needed and wanted, so i don't see this ending any time soon. i think it can continue. maria: i love it. alex, real quick before you go, dagen mcdowell, jump in. dagen: alex, is it southern inspired, the food that you're cooking? >> not really. i know i probably sound like a red neck talking to you -- dagen: i am one. so welcome to the family. [laughter] >> good to know. we are inspired by southern ingredients, but the food is not particularly southern. it's just -- just the brand name. maria: alex, congrats, great stuff. we love to hear how you have
♪ ♪ ♪ maria: welcome back. time for the morning buzz. free burgers for a lasting price. california chain farmer boys offering super fans a year supply of food if you are willing to get tatted up, loyal fans can sign up for free ink appointments and choose design, undisclosed number of entries will be chosen. dagen, would you get a tattoo? you're a vegan and you will not do it? dagen: it's not free food for a
year. it's one burger a week for a year for 52 weeks. so you get a burger a week in exchange for a lifetime of idiocy unless you will get the tattoo covered up. it's a 2-inch by 2-inch tattoo, it's not that big. do they dictate where you could get it? because you can get the tattoo where the sun doesn't shine so nobody would ever see it. jon: how do you prove that you've got it when you get in there. you have to drop your drawers when you get the burger. b, cheeseburgers aren't kosher, you're cutting out a whole marketplace. maria: you're right on this one. when we come back, wait, it wasn't a crisis, border reversal, texas congressman is here as the biden administration walks back president biden's comments that there's a crisis
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is tuesday, april 20th. your top stories, 7:00 a.m. on the button on the east coast. former president trump slamming president biden's border policy in his first on camera interview since leaving the white house of, telling sean hand at this last night the crisis could detry our country. we're in the middle of first quarter earnings season, dow industrials down 126, nasdaq down 51, s&p 500 lower by 16 and a quarter. we did get better than expected results from p johnson & johnson and travelers this morning. those stocks on the move.
the dow, s&p 500 and the nasdaq all pulled back yesterday, dragged down by weakness in technology. dow industrials were down 123, nasdaq down 137, s&p was down 22. european markets picking up where wall street left off, pulling back, the ft 100 down 71, cac down 78 and dax lower by 107. in asia a mixed story, japan was the worst performer, down almost 2%. "mornings with maria" is live right now now some of the top stories we're watching this morning. former president donald trump slamming the biden administration over its failed border policies, in a fox new interview, his first on camera since leaving the white house. watch. >> we were doing so well. all he had to do was leave it alone, stay in mexico is a big deal, getting the wall built, it was going to be done very quickly.
maria: in fact, as a result of biden changing course, border crossings reached record highs since president biden took office. in march alone, 172,000 migrants tried to cross the border during that month. meanwhile, in china, president xi jinping is calling for a, quote, fairer world order. the chinese leader says too few countries hold too much power. he's calling for reforms in global governance and while not mentions the united states by name it comes amid growing tensions between china and the yates, spanning trade, technology and human rights abuses. new this morning, canadian national railway looking to offer a bid to buy kansas city southern for $30 billion. the wall street journal is reporting the official offer could come today. it will likely kick off a bidding war with canadian pacific railway which aagreed already to acquire kansas city southern for roughly $25 billion. that deal last month. the stocks are on the move, with kansas city right now up 20 of%
in the premarket, canadian national railway down 4 and-a-half percent. the state department is announcing plans to update its covid travel advisories to better reflect health notices from the cdc. the update sharply increases the number of countries under the strictest do not travel level four advisories, that affects about 80% of countries worldwide. the department says, quote, recommends u.s. citizens reconsider all travel abroad right now. time for the word on wall street, top investors watching your money. joining me is the university of akron's investment fund chairman, dennis gartman, payne capital management president, ryan payne, and iht wealth management president, steve dudash. thank you for being here. steve, on earnings season, we're in the middle of the first quarter reporting season. we just heard from johnson & johnson, it beat expectations this morning. we're expecting some results or
solution on the pause on its covid vaccine, sooner rather than later. they're talking about potentially this week, friday, in terms of that pause going away. dow component travelers posted a double beat moments ago. we're waiting on others, procter & gamble, lockheed martin as well. netflix will be out after the close. how do assess the earnings? >> everyone is going to beat earnings, everyone is going to have really good growth potential on the next quarter. that's the easy story. the harder part is what are they really going to do with it? how much better is it going to be? procter & gamble, they made a lot of money last year off hoarding and things like that. all they were doing is taking this year's profits and pushing it into last year. that's probably not sustainable. that's not a reason realistic business -- realistic model that you should see them do really well. johnson & johnson, let's be honest. they don't make a ton of money off the vaccine.
that that is emotional reaction when you see stock price go back to that. you can take advantage of that because they make their real money on medical side for the most part and that is more elective surgeries are coming down the road. that pulled back huge last year. you will see a big push this year. i'm sure they're going to talk about it in their earnings report. that brings more money to the bottom line and that's something that is going to have a huge impact on their stock this year. and then netflix, that's the one i'm really interested in. can they keep disney away? did they keep their subscribers? are they still growing in they're the king. there's no doubt about it. is it eroding at all? we think it's going to sustain. we don't think just because you got a vaccine -- you may not buy toilet paper like you once did but you're not dropping your netflix subscription because of it. two different companies, wildly different valuations, we still
think netflix has long-term growth in front of them. maria: we're looking at a better tone to earnings, that's for sure, and the rest of the year will include much better comparisons. then there's the capital markets, ryan, very strong performance from capital markets, whether you look at spacs or ipos. now you've got sweed itch oat drink -- he swedish oat drink company filing for an ipo, a year after blackstone and high profile celebrities took a stake in it. it is an oprah-backed deal. is this the best way for a company to go public? do you think the ipo will be successful? >> well, they did double the revenue over the last year. for the record, i love oat milk. i'm a big, big fan. i've gone completely away from dairy. if you don't drink oat milk, i highly suggest you do it. oatly was the only option you had about a year ago and i used to go to the grocery store early because i knew it would be taken off the shelf quickly because people love it. now it's a year later and there's like six different
options when you go to the grocery store to get oat milk. so it's not the only game in town anymore. i think from their perspective, yes, go public now. we know there's lots of money out there but i wonder, you know, they doubled revenue. they also doubled their deficit this year in terms of losses. so from that perspective, i think competition's hot. there's a lot of companies doing the same thing. also, their other products aren't so great. i don't recommend you get oat yogurt. it's not very good. i think the competition's the problem there. i think everyone's got -- i'm sorry, go ahead. maria: i digress. is oat milk better than almond milk? i drink almond milk. i haven't tried oat milk. >> oh, maria, i'm going to change your life. oat milk is so much better than almond milk. it's more like dairy but tastes a little better. maria: i'm going to get dagen's advice on this one in a second. we all agree we love almond
milk. okay. i'm willing to try. let me get dennis in here. dennis, more than 130,000 people signed a petition calling for amazon to use doj coin as a payment method following the cryptocurrency's surge last week. we talked about bitcoin. i'm assuming your opinion of dj coin is not much different but what's your reaction. >> i think there's 135,000 people that are silly in nature. this is the silliest crypto -- cryptocurrency itself i think is a silly idea to begin with, eventually will all come to not. the fact that doj coin was a mistake to begin with, it was -- the two gentlemen who originated it started it as a joke. now suddenly it's become what the fifth or sixth most popular cryptocurrency. 135,000 people asking amazon to start it makes no sense to me at all. anyone want a tulip bulb, it
reminds me of holland when the tulip bulb went crazy. markets can remain ill logical longer than you and i can remain solvent. maria: those people who made a bundle on bitcoin, as we look at bitcoin at, what, $60,000 or of something, do not think it's very silly, dennis. so i mean, i know that you're not a believer here. >> i understand. maria: you left a lot of money on the table by not being a believer. it's up to 55, 800. >> not a question. i left a lot of money on the table. i shall continue to leave a lot of money on the table, if bitcoin goes to 100,000, it will do it without me f it goes to 200,000 it will do it without me. i would rather do things i understand. i have my doubts. >> nothing offends dennis more than cryptocurrency.
>> it's not going away. the math might not make sense. you're right, doj coin was a joke or of whatever. if people are using it and they get it approved on things -- bitcoin started to get approved to be used for things. you can't stop that usage. there is math behind it now. it's not -- >> who is using it? i would like to know who is actually using it. not doj coin, i'm talking about bitcoin. i'm piggy backing off it. maria: you know what, gentlemen? this is exactly what makes a market, one guy's buying, the other guy's selling and the other woman is holding. dennis, ryan, steve, great to see you all. thank you so much. we have a lot coming up this morning. first, real quick, dagen mcdowell, oat or almond. dagen: oat over almond. ryan's right, the other oat products like the yogurt are boo bad. but oat milk is delicious. maria: okay. there you go. >> that's what i'm here for. maria: oat over almond. that's what i needed.
i needed dagen to weigh in. coming up, texas congressman august pfluger is here, talking about the border crisis, the administration is walking back biden's comments about it being a crisis. next, a former cke restaurant ceo will talk investing for those focused on profits over politics. next hour, kc mcfarland on the global threats facing the u.s. as chinese president xi jinping makes it clear what he wants from a new world order. joining the conversation all morning long, dagen mcdowell and jon hilsenrath. you're watching "mornings with maria" live on fox business. we'll be right back. ♪♪ 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
>> the problem was that refugees i was working on the crisis on the border -- [ indiscernible ]. now we're going to increase the numbers. >> the president does not feel that children coming to our border seeking refuge from dire circumstances is a crisis. maria: go figure. this coming as top republicans on capitol hill are calling for a meeting with vice president kamala harris to discuss the administration's response to what they are calling a catastrophe at the southern border. joining me right now is texas congressman, member of the house foreign affairs and homeland security committees, august pfluger. congressman, it's good to see you this morning. thanks very much for joining us. this is your portfolio, homeland security, foreign affairs. how do you see what's taking place at the border? >> well, obviously it's a crisis. president biden even said so. you can hear his advisors saying
oh, no who let him say the facts that this is going on and they have to spend the entire day walking this back. we have 5500 people a day being contacted by cbp and thousands of others who are got-aways. obviously it's a crisis. we've been saying it all along. they refuse to address the situation the way they should. kamala harris was invited to have a meeting with high ranking republicans, instead she is touting the green new deal and avoiding the crisis. maria: it's pretty extraordinary. most people i've spoken with who have been to the border, who understand what's taking place say there were three main things that biden did the first week he walked into office and that was stop the construction of the wall, reinstate catch and release and overturn remain in mexico. not to mention title 42, where the trump administration was sending everyone back. biden changed what that and carved out room for anybody who had a 7-year-old or younger and then of course 7-year-olds start
showing up. your thoughts on what tad the administration needs to do to fix this, as president trump spoke to sean hannity last night, making a case for a stronger border wall. watch this. >> we had it so tight, we were doing so well. all he had to do was leave it alone. stay in mexico was a big deal. that wasn't easy to get. we went through court systems. getting the wall built, and the wall -- we were up to almost 50s very easy. that was going to be just routine, would have been done routinely. the contracts were there. the materials were there. it was going to be done quickly. we got he delayed because we were sued by nancy pelosi and congress, not to build the wall. i won the suits. we won all of the suits. we won everything. and then they don't finish the wall. the wall is imperative. all of the things that go with the wall, the technology that goes into the wall and with the wall is so imperative. maria: actually, congressman,
now we're losing money. wasting money because the wall construction was paid for but now all the properties and the materials are lying on the ground. >> well, that's exactly right. we have somebody in our district who was contracted to build it. now he's going to have to go fight to get the money that they were promised because they are not building that part of the wall. the other thing about this is you see this woke left, the pandering from the administration to the woke progressive left who is not going to do anything to secure our border, this affects our district in midland, texas where we have hundreds of children who are being placed in these emergency intake centers. no transparency, we're not going back to the policies that work, that president trump worked so hard to make sure we secure the country. we should judge the president on whether or not he secures the country and right now biden is not doing that. maria: that's one reason the state of texas is suing the administration. congressman, other ags are
suing the administration over the economic policy. congressman, what can you tell us about the higher taxes that are coming? i've been reporting for a couple weeks that we would see a second package where individual tax rates would go higher. when might we expect these details on how high taxes are going? >> well, we're monitoring it very closely. when you're spending 2 trillion here, 2 trillion there, we've got a green new deal coming, somebody has to pay for that. it's the american public, the middle class. they are lying when they say it's just people over 400,000. that's not accurate. this will affect everyone. corporations can expect tax rates to did up. president biden doesn't care about progress, doesn't care about making america strong economically. maria: how is that possible? he's the leader of the free world. what does he care about then? what is this all about, all of these policies that are working against the american people like wide open borders, trillions of dollars in new taxes, middle
east peace reversal with getting back into the iran deal. what are the points of these policies then? >> you're right, instead of opening our schools, we're opening or borders. instead of making economy stronger, we're redistributing wealth. it's pandering to the radical side of the democrat party, who wants to take money out of people's pockets and redistribute it. what president trump did by having tax reform that incentivized people to go out and start businesses is exactly what this country needs to get back to work, to get through a pandemic. now is not the time to raise taxes after we've gone through a global health pandemic. maria: we will leave it there, congressman. we'll be waiting for more details there. great to see you this morning. august pfluger, thank you, sir. august pfluger in d.c. this morning. coming up, president biden's tax increases, how high will they go in how the administration plans to pay for the progressive
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is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. maria: welcome back. biden's big budget plan, the president says he's willing to compromise on bipartisan legislation for infrastructure, but there's still a big push for tax increases to pay for it all which would strongly affect those with high incomes. jon, where's the compromise here. biden keeps talking about unity. you're talking about high incomes, the correction happened over the last couple of weeks where it was clear it wasn't raising taxes on individuals making 400,000, it was families making 400,000.
that means individuals, $200,000 each in a family will see their taxes go higher. he says he wants unity and compromise but i don't see a lot of it, do you? jon: well, you know, i'll say a couple things about taxes. first of all, there's not going to -- if biden wants to compromise on an infrastructure plan, there's no way he's going to t get a single republican on board if it includes tax increases. so there will be no compromise on a plan if there's a tax increase. now, i think republicans -- some republicans could get behind a spending plan on infrastructure that's pretty popular back in a lot of congressional districts. but that's just a line republicans aren't going to cross on, on taxes. the one thing that i do want to say about taxes on individual income taxes, corporate taxes are a separate issue, individual income taxes at the high end have moved very little over the last 30 or so years.
you know, they've been moving basically between 35% and 39.6% since the early 1990s. if democrats push forward a tax increase on high income households, i don't think it's going to have a big effect on the economy but it is going to anger a lot of high income households and it will be a talking point for republicans. maria: i don't know that it's just high income. that's the point i'm making. it's $200,000 per individual that are going of to see higher taxes. and when you put together state and city taxes, certainly a place like where you are, new york, dagen, you're talking about the highest earners paying almost 60% of their salary to the government because the highest rate goes back to 39, 6 on the federal level and then you've got, what, 14% total in new york city and new york state. dagen: new york city is going to have the highest taxes of anywhere in the entire united states.
this goes to a point of what the democrats have tried to do. nancy pelosi tried to repeal the salt -- the cap on salt deductions, state and local tax he deductions, it was capped under president trump's tax reform. last year in a covid relief after the cares act there was a covid relief plan that the democrats put forward in congress in the house and it had a repeal of the salt deduction. so what they're trying to do is get rid of the cap, the salt deduction cap in order to allow democratic governors to then raise taxes. it basically gives them cover for raising taxes at the state level, so that's one thing that's afoot. i don't think there's going to be any compromise, with the $1.9 trillion covid relief that the biden administration and the democrats pushed through earlier this year.
february the first, before the bill went through, ten gop senators, enough to break a filibuster visited biden at the white house with a $600 billion counter offer. so instead of 1.9, it was $600 billion. one day later, democrats in congress began to push through the $1.9 billion. the republican offer was dismissed out-of-hand. that's the wall street journal editorial page last week. so it was like please come and we'll talk about it, but your talk is irrelevant. that was at least the message earlier this year. maria: and they're holding onto the idea of reconciliation to get this through. if they don't get the support they need from republicans, they will jam it through reconciliation later this year, but the question is will the democrats be on board for the issue that you just raised, the salt deduction. dagen: can i add one thing that i've been dying to bring up? 400 billion in the infrastructure plan is for home
healthcare, for older americans. well, the medicare hospital trust fund is depleted in five years, runs out of money. the taxes coming in will be enough to cover 90-cents on the dollar of need. so there's a 10% automatic cut if you will in those benefits. why wouldn't you focus on fixing that before you worry about expanding the coverage for elderly americans, just throwing that in there. jon: dagen, i'll tell you why. because here in washington, behind me, it's all about borrowing money. you know, they know that they can keep borrowing money to pay for medicare, to pay for infrastructure, to pay for tax cuts. that is -- we've got a 10 of year interest rate under 2%. that's why there's going to be another spending plan on
infrastructure with or without republicans. dagen: and with or without a pay for it. maria: it's not infrastructure. but it's not infrastructure. they need to stop mislabeling these plans. i care about care for the l elderly as well. i would love to see money in that. but don't call it infrastructure and then say this is human infrastructure. we're not idiots. okay. that's not infrastructure. that's just spending on the elderly. fine. put it in a package. but jon, you're right, they just want to spend money and the massive packages under the headline infrastructure, that's why the republicans are saying let's talk about 600 billion, let's talk about 800 billion, just infrastructure. this 2 and a quarter trillion dollar bill is not infrastructure. jon: yeah. i just don't think either side is pristine in this. because republicans were perfectly happy to spend a lot of money too when they were in power. dagen: nobody had religion on balance and spending what we had. this has gone on for more than
20 years. it was republicans and democrats both. jon: exactly. maria: we're going to focus on profits next. jon: spending discipline disappeared in washington in the early 2000s. maria: how does that work on investing strategy for those wanting to ignore woke politics? plus this, living in your own oasis, one artist takes socialize layings to the extreme. it's making -- social isolation to the extreme. it's making a buzz this morning. it's all coming up. stay with us.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is tuesday, april 20th. take a look at markets this half hour where we are expecting a loss at the start of trading, dow industrials down 126, nasdaq down 47, that's off of the worst levels of the morning and the s&p 500 down 16 and-a-half. we continue to see first quarter earnings stream through. lockheed martin on the screen,
missing revenue expectations with its quarterly numbers. the dow and s&p 500 and the nasdaq all pulled back yesterday. weakness in technology really set the tone. the dow industrials were down 123 at the close, nasdaq down 137 and s&p lower by 22 at 4:00 on wall street. european markets picking up where wall street left off. we're looking at a decline across the board. the cac is down 91, dax lower by 141. in asia overnight, mixed story here. japan was the worst performer, nikkei average overnight down almost 2%. meanwhile, this, the cdc releasing positive information on the vaccine front. cheryl casone with details. cheryl. cheryl: that is right, maria. out of the 84 million americans who have been fully vaccinated, less than 6,000 contracted the virus after getting their shots. none of those who became infected got severely ill or died. cdc director says the 6,000 could be a, quote, under count but the overall picture shows
the vacation seens are working. tesla's ceo denies his company was to blame for a fatal car crash. he was tweeting, he claims that data logs from the car show that the auto pilot feature was not engaged when the car went off the road and struck a tree. at the time, police say neither person killed that was the driver's seat. they speculated that the auto pie hot feature may be to blame. the ntsb is investigating this. stock lost almost 3 and-a-half percent on the story. stock is down more than half a percent right now. united airlines reporting its fifth consecutive quarterly loss, down close to $1.4 billion in the first quarter. ceo scott kirby is going to address investor concerns on the morning's earnings call at 10:3. he's promising a clear path to profitability in the days ahead. the airline is planning to add more than 40 new domestic routes, two international routes
this year. they're looking to hope travelers will want to get back in the skies this summer. tough earnings quarter for united. a dramatic rescue off the coast of southern california, all caught on camera. officials say the boat started taking on water during a weekend outing, 14 people were on board. luckily, another boat was nearby, came to the rescue, pulling them out of the water with help of a harbor patrol boat. luckily, everyone was okay in this one, maria. those are your headlines. back to you. maria: that is a scary sight there. cheryl, thank you so much. investing for ton woke, a recent wall street journal op-ed documents the rise of stakeholder capitalism, how major companies are using environmental, social governance to push a progressive agenda. it argues the decisions can alienate investors, they have no place in your portfolio. consumers and diminished returns
for shareholders. joining me now is former cke restaurant ceo and former labor secretary nominee, the author of the capitalist comeback, author andy puzder. thank you for being here this morning. we've seen a lot of wokeism from corporate america. you've teamed up with the author of this op-ed. tell us about second vote, how it helps shareholders and your message. >> sure, this was founded by three individuals, dan brand, who is the ceo of second vote advisor, dianne black, a former congresswoman from tennessee, the head of the senate budget committee and her husband, david black, who founded aegis science. and it's -- we did this in reaction to this trend among investment banks and banks in general to follow this liberal agenda through what's called
environmental, social and government's investment criteria, this is the dominant investment criteria you out investment cry tier out -- criteria out there now. there's trillions of dollars behind this. it's a way to advance a social justice leftist agenda, to impose that, i think unknowingly on many shareholders. many shareholders have no idea they're investing in companies that end up supporting this agenda. and it pushes investors into things like radical environmental policies or other social justice goals and the idea was we wanted the blacks and dan wanted conservative investors, libertarian investors to have an opportunity to invest in companies that he focus on profit, that focused on shareholder returns, rather than this broad stakeholder capitalism idea and when they focus on shareholder returns, also not to offend their conservative values. so we've got two publicly traded funds at the moment and they're doing well. maria: i want to ask you about
those two public traded funds. i totally agree with you, andy. these ceos and corporate heads who have come out and tried to push this esg way of investing, which pretty much knocks out oil companies, knocks out tobacco companies, they call these sin companies. if you smoke, you don't want to own oil companies. meanwhile, so much production of our products that we live with and we use every day start with the energy production of the oil business and yet these companies are totally fine and willing to work with the chinese communist party and invest in companies that are tied to the chinese military as the ccp wants to overtake america. it's incredibly hypocritical and what you're saying is take politics out of investing all together. you're going to invest in the markets, you're going to invest in companies that are growth stories. do it. but look for the ultimate goal being profitability, not
sticking to some ideology of staying away from sin stocks. >> yeah, absolutely. and the idea is to invest in companies that focus on profit, not politics. the investment theme being that companies that focus on profit will be more profitable than companies that don't focus on profit. we also screen out -- we've got two funds out there right now, one is egis which is a second amendment fund. the other is lyfe which is a fund that focuses on companies that don't offend people who are pro life. the idea is, when you invest in these funds, we will focus on companies that make a profit but there won't be companies, for example, in the second amendment fund that oppose second amendment rights. the majority will probably be neutral on the politics, neutral on the issues. there won't be any that offend your conservative or libertarian
views. you will have companies that focus on shareholder returns. when shareholders returns are diminished because of a focus on other social justice issues or because they don't invest in companies that really are profitable but offend their politics, that's really a tax on shareholders. that reduces shareholder returns and if you're invested in a pension fund, ira, a 401-k or a mutual fund, you may be paying in effect a tax to support these liberal agenda items and you don't want to pay that tax. so we're trying to come up with investments that will allow you to invest without offending your values and invest in companies that as milton freedman argued are focused on the most important thing which is shareholder returns. and while past performance is no guarantee of future performance, i'd say the second amendment fund since inception in november has returned 20.8% versus the s&p at 10.7 and the lyfe fund
returned 13.9 versus the s&p 10.7. so far, so good. looks like if you invest in profit, you make a profit. maria: people just would like to invest and segregating us in terms of groups of where we want to put our money is so backwards. we're looking to make money and have a long-term investment strategy plan, but politics seems to just creep into everything, andy. >> it does. this really comes out of the business round table, kind of the davos crowd, this notion they're putting forward that instead of just focused on returns for shareholders instead of being focused on as milton freedman said profit as the primary objective for a business, they want to focus on a broad stakeholder base which really allows them to focus on whatever they want rather than focusing on returns for shareholders which they should be focused on. maria: all of this as we await
president biden's climate week and his green new deal which he's calling an infrastructure deal right after we hear all about higher taxes. andy, it's great to have you. we'll be checking out those funds. thanks very much for being here today. >> thanks, maria. pleasure to be here. maria: all right, andy puzder joining us there. stay with us. we'll be right back. (vo) ideas exist inside you, electrify you.
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netflix may move markets later, the company set to report first quarter results after the closing bell tonight, it's the first report since announcing the 200 million subscriber milestone in 2020, as you can see 297 is the expectation on revenue of $7.13 billion. joining me right now to talk about netflix and the streaming business is cfra research media and entertainment analyst, tuna amobe. great to see you this morning. thanks for being here. what are your expectations for netflix? >> good morning, maria. thanks for having me. our expectations, the company's going to continue to execute like they've shown themselves as one of the clear winners of this pandemic. the pandemic has accelerated a shift from linear to internet television and netflix has made a very good case to be one of those winners. as you saw, the pop in numbers, 37 million net adds for last year. q1 they're guiding to 6 million
net adds globally. we think number could be somewhat conservative. the story here is that the pandemic pull forward effect is going to have an impact. i think the concerns with that seem to be slightly overdone. we continue to expect that this year a lot of good gains will be sustainable. but of course, the big question, the big story here is the inflection to positive and sustainable free cash flow, the company's guiding to breakeven free cash this year which is a major milestone and that's what investors are really warming to, transitioning from a growth to a relatively more mature capital allocation strategy. maria: is this all priced into the stock at this point, tuna? i mean, look at the competition in this industry. disney plus racked up more subscribers, hbo max offering blockbuster films at home including the number one movie in america, godzilla versus kong. could netflix be in danger of
losing the market share here with disney and hbo max coming at their heels? >> i think that's a fair observation. but when you kind of backtrack about 18 months ago since the streaming wars really intensified with the launch of disney plus and a host of others, i think netflix has really made a case to kind of be one of the -- remain one of the leaders here. i don't see them ceding any significant market share to -- what the pandemic has done is to expand fairly significantly addressable market of streaming and netflix, what we see them becoming much more pragmatic in their content spending. they just made a deal with sony pictures as more studios take content off third party platforms to put in their own platform, netflix has come out and become more pragmatic.
i think there's no worry that they're going to be short of content, despite this competition. that's why we expect free cash flow story to continue to be very positive going forward. maria: and that speaks to the expense story there, paying up big for all this new content. tuna, thanks very much for laying it all out of. great to see you this morning, thank you, sir. tuna amobe. we'll be right back. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ na na na na
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providing air purified by the plants inside. he says it's a way to skip the mask all together and breathe easy. what do you think, dagen? dagen: having majored in art history, i do appreciate this. but -- so my allergies the last few days have really been acting up and my face itches from the inside out all the time, so can you imagine walking around with that and like sneezing uncontrollably so you're blowing dirt up your nose and it's like constantly fogged over. maria: that is hilarious. dagen: that would be a great look. jon: , hey, maria, can i jump in on this one. maria: go ahead. jon: with the marijuana legalization, i wonder what that guy is growing, if it's really about fresh air or something else. [laughter] maria: good point. how about this, get that beach body in moments by wearing it, jon. you can now be ready for the summer instantly with one of
these babies, this is a silicon muscle south. they're selling out online for about $100. are you ready to suit up this summer, jon? check it out. jon: the problem i have with that, i don't think it will fit over my stomach. i don't think i'm the market for that one. maria: dagen, you like it? dagen: i do. they make a similar thing in the female form, just google it. you can look on amazon. [laughter] dagen: trust me on that. by the way, jon, today is 4 4/2. you were talking about marijuana being legal. today is 4/20. jon: you've got to explain what that means. dagen: no, that's all i'm going to say. jon: it's got something to do with marijuana. maria: elon musk tweeted it a while back. elon musk had some fun with that. jon: he made an extra trillion
dollars since that tweet. maria: president xi jinping's new world order, former national advisor is here to talk about xi's new comments, making it clear what he wants from the world. it all starts next hour, "mornings with maria" is live on fox business. ♪ baby i don't need dollar bills to have fun tonight. ♪ baby i don't -- ♪♪ 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. ♪♪
maria: welcome back. good tuesday morning thanks so much for joining us. i am maria bartiromo. it is tuesday, april 20 top stories right now 8:00 a.m. on the east coast former president trump slamming president biden border politicals first on-camera interview since leaving the white house telling fox news sean hannity last night crisis could destroy our country market lower we are expecting a lower opening for the broader averages dow industrials down 119 points nasdaq down 30 points s&p 500 weaker by 14 1/2 we've got better-than-expected results
from dow components johnson & johnson, travelers, procter & gamble this morning, we are in middle of first-quarter earnings he reporting season, and numbers flowing all morning the dow s&p 500 and nasdaq also back yesterday, dragged down by weakness in technology dow down 123 nasdaq down 137 s&p lower 22 1/4 european markets pulling back we've got a negative tone pretty much across the board eurozone, if i felt00 down 76 cac quarante down 91 dax lower by 136. in asia overnight more mixed story japan was the worst performer, the nikkei average down, almost 2%, "mornings with maria" is live right now. maria: now some top stories that we are watching this morning, he former president donald trump, slamming the biden administration, over its failed border policies, in a fox news exclusive interview his first on camera since leaving the white house doing
so well stay in mexico days a big deal getting the wall built creators there materials there done very quickly. >> but now, border crossings reached record highs since president biden took office 172,000 migrants showed up tried to cross border in march alone up 70% from the minibefore, 80% countries worldwide will soon be under a covid travel adviser falling under do not travel level, for advisors one under state department change occurring yesterday saying that it is better reflecting notices from cdc recommends u.s. citizens reconsider all travel abroad. the president of china xi jinping calling for a quote world order the chinese leader says two few countries are holding too much pour calling for reforms in global
governance, while not mentioning united states by name this comes in growing tensions between china and u.s. over issues spanning trade technology, and human rights abuses, like the one mill uighurs locked up in xinjiang right now. >> will begin selecting select cryptocurrency for payments bitcoin coinbase will also landlords third party partners to get paid in cryptocurrency. where available. and biden spending spree continues told a you bipartisan group of lawmakers he is prem to carbon monoxide on proposed 2 1/4 trillion-dollar spending plan calling infrastructure a push to pay for it all white house preparing taxes on wealthiest americans as part of spending bill we are going to hear how much taxes will go higher for many in the next two weeks, joining me right now ceo of
strategas, jason earth with us all morning dagen mcdowell, jon hilsenrath great to see everybody jason kicking it off with you your thoughts on where we are, in this market, we were right around record highs just a couple days ago, raises rock-bottom he levels stock market a great place to make money are you worried higher taxes on the horizon put a dam damp on that i am probably not for six months the amount of surplus is stunning of 1.9 trillion passed about a month ago, trillion of that will be spent by september. so that is going to give a pretty strong challenge for economic growth, and profits. but i also recognize, that really largely when president biden he released his new plans for infrastructure spending and taxes, that would
go along with it the dollar maked the dollar has been weakening last couple weeks that is not particularly great sign and something i am watching closely i do worry, that tax increases particularly on capital formation would sterilize some of the stimulus that is already in the pipeline, it would clearly take a bite out of -- things in 2022. >> and if you are talking about a capital gains tax from 20% close to 40% obviously, people want to sell thurt post followios sooner rather than later not to get that 40% haircut do you expect a stock market sell-off should we see capital gains tax up to 40%. >> if you see an increase in capital gains taxes to that degree, it would not surprise me to see the markets sell off or have a harder time moving
higher, it is all liquidity a lot is liquidity cliven clearly going to get stronger economic growth, but i also think it is important, to note that i think in the biden administration, it is important to realize, the tax he increases are not just a way to pay for spending, they are an issue of social equity, so when means you might get tax increases without the amount of spending that you were expecting, in the first place, and i think that this -- this economic team at the white house, speaks of one voice and very clear on this, so, i would not if i were a businessman or as a businessman, are and as investor i am taking prospects of higher taxes seriously i think quite likely somewhat divorced from where need to spend to pay for the spending that is being proposed. maria: that is a great point i totally agree with you jason here is jon hilsenrath go ahead. >> jason,i want to throw a
couple questions at you, one relates to the market, and taxes, so the market is supposed to be forward looking. you know. the tax increases on wealthy potentially capital gains and corporate pretty well telegraphed why isn't market responding to that? to what extent is some tax increase quite thin the other thing i want to ask you about i want to the get your thoughts on financial stocks, because they've had a pretty good run last couple months, that the banks reported blowout earnings, last week, you know, some of the money that is being -- sent to households from the paychecks, is being used to pay down pay down debt, if you -- there is also, banks are a lot cheaper than technicals i am wondering if a run left financial sectoring whether you are applying that. >> on the first question my
own opinion is the size you have to remember you know the base, of nominal gdp growth is about 20 -- 21 trillion dollars,s the amount of spending that we're talking about, 2.3 trillion dollars, is nothing we've seen since world war ii. and, so, i think part on markets not discounting all these plans right now is that the -- the magnitude of them, is so enormous there are so many things that could happen, and so far in future that people understand that -- there is just there are too many variables before they actually start discounting if you look at president trump's tax cut, that didn't really start to be priced into the market until about a month before the legislation was actually passed. and i think that is why, is because there is just a lot of things that can happen, between now and when the budget is going to be passed, debt ceiling, in my opinion, you probably are not having a
good idea what is in the tax bill until labor day i would start pride of in in august people have better idea what is actually in the bill because this will be big, very big bill. as far as financials -- >> cal jason -- how do you allocate capital in this environment after run-up ahead of major changes in tax policy? >> o i think, and i think that i a good question you know it is rhetorical i have to say becoming harder, in my opinion, to allocate capital in that regard, we are seeing with our own clients, generally tend long only clients, they are sitting on hands a bit more now than they have been in the past, hedge funds are clearly much more active, dlients the are in henl funds finding very hard to be anything but long because of the amount of liquidity from federal reserve. so you have i think next i
think next period of time is going to be much more difficult the next six months more difficult for investors than what we've seen in the last year or so. it is hard -- >> quick -- >> go ahead. >> i was going to say as far as jon's question about financials we are long financials industrial materials energy driven by i idea rates are going to be to be higher long-term interest rates higher short term rates i think yield curve will continue to steepen, remember the financials also had a benefit from releasing reserves against bad loans, probably not going obviously, not going to be able to do that again that is a hard thing to reprise i think real he value in the financial sector. maria: i know you've got a great policy business, at strategas, before you go is there any other policy that you think will move markets a
couple sources told me, there are a handful of bills, right now, getting ready, in terms of china, and technology, there is also drug pricing, bills that we're going to hear about in next two weeks as well any other policy ideas you are expecting to move those particular markets real quick. >> i think, maria, the regulatory side i think very important, to be quick about it, the things that are coming out of biden administration are not particularly positive for markets would i say there is crude there is very robust antitrust team in biden administration could be a problem for tech, i also see in terms of crypto would be very areh very, very careful, because cryptocurrency bitcoin are seen, as something that takes power away from the sovereign states ability to tax people they don't like tax
something, in my opinion, is a bigger and bigger issue i wouldn't short bitcoin but you the would i be very careful about putting fresh monday to work in cryptocurrencies, because of the regulatory response that you are starting to see global and i think we will see in the united states. maria: really, really important issues that you raised jason great interview, really good to see you, sir come back soon, thank you. >> i look forward to it thanks. maria: all right jason, much more ahead former trump deputy national security advisory k.t. mcfarland here how global friend is in u.s. as xi jinping makes it clear what he wants from a new world order addressing for golden years throwback style younger generations flocking to making a buzz this morning you are watching "mornings with maria" live on fox business. ♪♪ ♪ us!r way works great for
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maria: welcome back. step forward for free speech apple's app story moving to reallow conservative social media platform parler on the platform apple banned it after january 6 attack on capitol restating par already said par parler made changes. >> i think apple trying to cover its you know what a little bit here again, i amazon was biggest problem with removing with socially shukt down -- shutting down parler but amazon, apple, google a way for apple to kind of stand up for what it preached if you will. and probably trying to take some of the heat off when it comes to washington, and the regulation of big tech, but should have never been taken down in the first pays. maria: we will see what
happens with technology companies, dagen i mean there is antitrust element of this, where, you know, many people feel companies are bigger more powerful than they ever have been, obviously, this was not the case in the expectation when that section 230 went into telecom act 1996 there is antitrust but section 230 what are your expectations in terms of actual policy, senator tom cotton came on this program, over the last several months, said winter is coming for technology companies, because of the censorship around flex censured "new york post" hunter biden story i wonder if going to see, really movement in terms of policy, to bring these guys down, from the heights they are at i am talking about google, amazon, i don't know that i would put apple in there necessarily but may be. dagen: jon can speak to this.
in the report, number one if you get rid of the section 230, liability protection you are going to see more o censorship. from these large tech companies number one i think ultimately supreme court takes up some case that draefs how section 230 is broadly applied, maybe narrowos the application of it which is what justice clarence thomas has talked about, but another issue, is, with apple, this was in democrat produced report that came out of congress, about the -- vast power that few technology companies have not just about speech it is also about does it harm the economy. how much say apple charges, for an app on app store just one other quick thing, i point out facebook was censoring
shutting down story "new york post" published about black lives matter founder and real estate -- here is what former head of -- >> facebook said it doesn't allow people to post personal confidential information about others that was their reason, for shutting down that "new york post" story, because thought dozens explicitly lifting his home where he lived uneven application of quote rules via facebook or twitter that bothers people. >> great point jon your take on this, home bring in, you you disruptive technical research founder chief analytical lou get to see you are you expecting change in policy, that will affect these large tech companies? >> i think it is absolutely necessary. i mean dagen said it hypocrisy
abounds on tech platforms undercut pareler's growth expanding rapidly from hundreds of thousands to millions we are seeing with club house a thorny issue in social media clubhouse is audio only platform we have news out that facebook is going to go into audio first as well with product called sound bite how do you moderate live audio near impossible so i think you need a policy change we talked last week clarence thomas telegraphing section 230 communications decency act need to be responsible watch how quickly they clean up their act if all of a sudden you say you are liable for content on your platform i think it happens quickly. >> stephen miller on this weekend "sunday morning futures" with me said that the republicans have to come up with a plan now. get that bill ready, so when they if they take control in 2022 can be ready with that the way democrats are ready
with h.r.1, as number one priority, jon hilsenrath weigh in here. >> well yeah, a couple things. dagen lou talk about section 230 i think really important part of the coverings here dagen also a three steps ahead of me i will say again, if they change the rules on section 230 that leads to more moderation of platforms because section 230, the communications act provides liability protection for digital companies dialogue going on more what you call censorship if that is scaled back that is one thing, but the other thing i want to put out there -- >> can we all agree -- we need it -- >> there is a balance that has to be struck, between you know moderatoring conversation, and china, right? like china is you censoring everything if you want a
thriving on capitalist society you have to have platforms open and the rest of the world involved in. >> it lou final word. >> eye agree moderation in this is necessary not censorship we are not talking about there are gradations there we need a change of policy because something needs to hold platforms liable for the reach that they have. maria: the problem companies the chosen a side not bulletin boards as they said we were good to see you we'll be right back. a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq new projects means new project managers. like you you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. tired of daily insulin injections?
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to get more confrontational if chauvin is kwitdz of killing george floyd dagen mcdowell we are seeing this region on fire to put more -- fuel on the fire, and tell protesters to get more you know in people's faces, confrontational your reaction. dagen: a report out congresswoman maxine waters requested police protection. for when she made that visit. astonishing i want to read what judge peter kay hill also said, this goes back to whiefb saying from the beginning. i wish elected officials would stop talking about this case especially in a manner that is disrespectful to the rule of law judicial branch, i think if we want to give their opinion, they should do so in
a really are manner consistent with oath to institution to respect a coequally branch of government he said that, though, all these democrats so upset with president trump for years, and his rhetoric, are there now they are what they have claimed for years to hate. and worse. and when costs are attacked when you have businesses that are being destroyed, and you were essentially or you wishing for more people's livelihoods to be destroyed? you have cops being attacked all over the country. what do you really want? i am astonished by this may be i shouldn't be surprised. maria: well i mean this didn't just happen with maxine waters. it is not like she became this
way. during the trump administration, she told supporters if you see anybody from the trump campaign if you see any supporters get in their face, tell them they are not welcome here anymore how is this allowed and there is nothing that happens to her meanwhile an entire impeachment trial over president trump riling ip his supporters. dagen: right i don't know but nancy pelosi went when asked about it made excuse for maxine waters. she said maxine talked about confrontation in manner of the as i have rights movement pelosi said she doesn't think waters needs to apologize for controversial comments, they are all -- walked on -- think this is okay. >> kevin mccarthy is do you agree a resolution will censor maxine waters for dangerous comments he said she broke law
inciting criminalize i am crowing a resolution will censor her jon thoughts about maxine waters' comments. >> i have been following her for many, many years, because she was on the financial services committee of the house for a long time she has always been someone shoots from the hip, and, you know, i think i have to agree with dagen on this one, that, you know, on both sides you know maybe we're maybe we can enter an era where people on both sides can put the guns back in the holsters stop shooting from the hip and show a little in other discretion about what they do to rile up bases, that includes maxine waters, who has been doing this for her entire political career. but, you know, because you are angry at one side for doing it doesn't excuse you doing it, it is -- it is a sign that everybody needs to just shut up sometimes. >> doesn't look like any accountability. dagen: when they are what
they have claimed to hate, don't forget that. maria: yeah yep absolutely we will take a break former trump deputy national security adviser k.t. mcfarland here the global treats facing the united states, what is going to happen next in the middle east? with confrontations about getting back into iran deal what about china president xi jinping making it clear what he wants from new world order dressing for golden years throwback style younger generations are flocking to making a buzz this morning, stay with us. (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back.
maria: welcome back. good tuesday morning. thanks for joining us. i'm maria bartiromo. it is tuesday, april 20th, take a look at markets this half an o hour ahead of the opening bell we've got a market under prosper lows of mornings dow industrials down 153 naz douk down 48 s&p 500 lower by 17 european markets also under selling pressure
this morning take a look, ft 100 in london down 84, cac quarante in paris down 95 dax in germany legislator by 151 asia overnight mixed story japan was the worst performer in fact nikkei average was down, almost 2%, meanwhile, there is fallen capital police brian died of national causes day after capitol riots the details why this is important. cheryl: good morning again, d.c. medical examiner said he suffered two strokes autopsy finding no evidence that 42-year-old suffered allergic reaction to chemicals, no indications of interim or external injuries two men charging with this saument after alleging spraying a chemical the findings contractor. >> when andrew cuomo used state resources to write
promote memoir they reviewed a draft during weekend sessions at executive mansion secretary manuscript on state printer cuomo maintains that any staff -- was voluntary. exxonmobil floating a plan could help cut carbon meemgs if government helps pay for it a carbon capture hub on governmental could bury up to 50 million tons be nicotine comum gulf of mexico by 2030, "the wall street journal" op-ed could have tens of thousands of jobs help reach carbon neutral goals by 2050, the helicopter reaching heights after completing first flight on mars, the helicopter went 40 seconds captured images sent back to earth before precise landing, to
demonstrate whether future exploring of the red planet was possible using flight this was first powered controlled flight at another planet we have ever done, that anyone has done a big moment for nasa. maria: that is cheryl, thank you so much meanwhile, we are looking at global right now china vision of a fairer world order president xi jinping criticizing countries for building barriers decoupling he says saying too few countries hold too much power calling for reforms in global o governance did not mention united states by name joining me right now he former deputy national security adviser under president trump author of "revolutiontrum washington we, the people" kt mcfarland you're take what is on the ground on feels like in dangerous waters, today, with this new administration, whether it be the middle east,
china, and beyond, here is a note that i am reading from a group of more than 2000 former high ranking israeli military law enforcement and intelligence community officials, they sent a letter to the biden administration, warning against inking a new, deal with iran says i will directly endangers i'd and newfound arab allies referred to, of course, abraham accords five countries in the middle east say they will normalize relations with israel is that in general should u.s. return to the iran nuclear detail? >> all in general, in a hundred days biden administration has managed to get in trouble just about every department as you point out iran nuke deal iranians would love it back in right because it would allow them, the ability to have legal nuclear weapons within the decade will hope their economy so biden administration is rushing to do that well, guess
who also is looking israel as you point out other arab nations going to look at that say we don't want to we are going to prevent iran from getting nuclear weaponize whatever that takes. that doesn't sound good to rush you russians mounting transparence along ukraine border say exercises nobody believes in a in black sea transit point a trade route american military vessels, trade vessels going in and out for years, the russians said two weeks ago america you just stay out of here or you are going to be in trouble we stayed out, look at china, china doing same thing taiwan hong kong, south china sea. . >> this is all happening at once kt, you laid it out very well, the growing you russia threat troops increasing on ukrainian border you've got this picture of chinese police with their goose legs walking streets in hong kong a
chilling photo. and shows you and reminds you what has taken place in hong kong, it is no longer the free place that we thought it was the international hub of business, this is chinese territory and the ccp has gone there laid the law down 25 years yearly than they were supposed to, because they had an agreement, with the world, that they would not put authoritarian control in hong kong for the another 25 years so, you've got china, laying the law down in hong kong you've got china credibling the wagons in taiwan, russia circling wagons in ukraine biden administration sends kamala harris our vice president to greet prime minister of japan, and detail his entire afghanistan strategy, here is the ranking member of the intel house committee devin nunes with me sunday laying it out, as he sees it.
>> the biden administration seems to be going into policy instead of like ronald reagan used to say peace through strength, i think their policy is speak loudly care a twig the wisdomcom china you russia you aran what happened in you afghanistan the conventional wisdom in this town is you russians are bluffing chinese never take over taiwan we know adversaries say things like xi jinping said a multiple occasions taiwan is part of china we auth to believe him what happened in alaska, our people being dressed down simply unbelievable. maria: so kt what to do about this, your reaction to what you are hearing from interest devin nunes. >> he is absolutely right i studied nuclear weaponize and conventional forces when a graduate tune at mit first thing you learn don't listen
to what people say look what they do capabilities do they have intentions speeches can change overnight you look at capabilities, so look what china has done, with taiwan, it is over he flown taiwan threatened taiwan you are going to be next hong kong, democracy leaders demand -- man probably equivalent of rupert murdoch in united states thrown him in jail for treason if you look at how they have gone around the region gone to countries that are supposed to be our allies tried to intimidate them i am worried about what china is doing frankly i am more concerned the council supposed to be with us us sensing weakness too on the part of biden administration, when president biden met with japanese prime minister a milquetoast response after it goes country by country not really following america's lead anymore, they say maybe we better make our own peace cut speculate deals we don't counted on this administration to be leading from the front or from the behind.
maria: so, so the question is would united states, back taiwan, if china were to invade taiwan? >> that is an open question, we don't know. and do you find it odd that despite the fact that president biden continues to say the coronavirus and getting us out of this is number one priority and, yet, still has not even brought this up to xi jinping? s he had a phone call with chinese leader we had a meeting in alaska, the subject of the coronavirus and its origin never comes up? what -- why not? we know that chinese communist party downplayed this why aren't we holding them to account so that millions have died. >> if you want to prevent a crisis in taiwan here is what you do hold chinese accountable for the pandemic you say things like we're not going to let -- american vaccines go to china unless a full accounting how virus started go to hong kong people
oppressed by chinese government guess what we are having open borders why don't you come on in fast-track you for earn citizenship other countries in supply chain they want them not made in chaip there are a number of things we can do right now would make chinese so sort of preoccupied with crisis at hand that that he wouldn't have time i think or the inclination to be as risky and risk talking with taiwan as they have been with hong kong. >> quick final question kt we are spending trillions and trillions of dollarsing on everything, from states and cities, to elderly health care, but not spending any additional money on defense, the defense budget is actually going to be lower in this upcoming budget when you consider inflation. your thoughts on what the biden administration is doing to defense spending this moment in time. >> they are -- cutting defense
spending not investing in technology not investing in cybertechnology cyberdefense and of not investing in space, i don't see anything good about this. >> wow, oh, yeah threaten the open border kt great to see you this morning we will continue to spotlight this very dangerous moment kt mcfarland we will see you soon. we'll be right back. t. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪
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reportedly considering a new rule, would require tobacco companies to lower the levels of nicotine in all cigarettes to any one addictive levels fda readies response to citizens pesh over banning menthol cigarettes, doctor great to see you thank for being here thoughts on nicotine limitation. >> well maria we've got to remember nicotine is a highly addictive chemical even children become addicted to cigarettes smoking smoking is most preventable cause of death in this country can lead to heart of backs to purpose to lower nicotine level so you do not become addicted or
minimally addicted hopefully will go to assessor alternative nicotine patches, or gulf of mexicos, oe. cigarettes have been shown to help smokers quit smoking the help reduce health care burden smoking causes, 170 billion dollars annually a huge toll on country and america's health. >> i want to move on to coronavirus you've got yale columbia universities following brown and cornell's lead will require students get vaccinated to remain on campus, in the fall. doctor what do you think about it are more universities businesses going to require a vaccination to return to school or work. >> i think they are going to push towards it especially in colleges, in universities, if you look at data right now,
there is transmitting virus highest cases young population 20 to 39-year-old group young adults teens at an transit more like older adults it makes sense when you think about it go to college if you wanting to go to college required to have measles, this may be additional shot to those required effort to prevent spread of covid in the community every won over 16 in the united states right now is eligible for a vaccine. maria: doctor isn't it true even after i'm vaccinated i can still get the coronavirus? >> well that is a very good question maria. likelihood is extremely low but, yes, it is possible. the vaccines not one hundred percent effective but they can prevent you from become critically ill prevent you from having -- prevent death
as well. >> that is important doctor great to see you this morning. thank you so much we will catch up soon we appreciate it coming you'll up dressing for golden years throwback style younger generations are flocking to making a buzz. back in a minute. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected.
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time for the buzz style that you purposely gets old from instagram to mainstream labeled younger people are embracing the grandparents' style younger generation shying away from trends instead appreciating how elderly role models look effort lesley cool in decades old clothing like blazers, tweed dagen what do you think. dagen: it is case you learn
from experience, and you develop your style over time. and older men and women share one thing: hats they know how to wear them you ever see a stylish well addressed older gentlemanor lady they always have a cool hat on. so i -- my heed is so big i have to wear men's hats. >> dagen maria i need does this mean i can take my cargo shorts, out of the closet wearing summer. dagen: no -- not at all shorts never went out of style, jon for someone your age but like older gentleman would be wearing linen trousers, seersucker if down south layering like a shirt a
swaert then a tweed coat for winter a stylish fedora find of like the grandparent style if you will. i would have thought wearing grandmother's clothes, where -- wear what you can wear as young person as long as you can that is my advice. >> both my -- my grandmother used to work in alterations at town department store until well into 70s, she could sew my other grandmother liked to wear polyester matching pantssuits very itchy horrible. >> mine was descent of the disinformation would never though anything out including napkins would roll up in sleeves in addresses i i don't know the think coming back
into style my grandfather did wear a nice hat. >> what about my grandparents. >> have you said tin foil and tissues if you grew up in the depression. maria: that is right grandparents students of the depression for sure saved everything more "mornings with maria" 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 .. somewhere deep inside of yo, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪
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maria: have a great day. have a great day, stuart takes it over, "varney and company" begins. stuart: i like that bit about grandparents, i really like that. good morning, everyone. this is the day the crypto crowd was supposed to run up the dogcoin to one dollar but that didn't happen. the last quote we saw was $0.40. dogcoin up 87% this year. hashtag dogdoor 120 appears in snickers