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

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those buyers totally scored. are you one of the savvy pickers? e-mail me a picture of the mask, jamie@strangeinheritance.com. and just face it, you can't take it with you. cheryl: good morning, i'm cheryl casone in for maria bartiromo. it is monday, july 12th. president trump's 2024 hint, what he told maria about his political future. maria: you ready to get back in that ring and run for president again, sir? >> well, i do know my answer, but i can't reveal it yet. cheryl: much more on that. plus, his case for taking on big tech. taking a look at futures right now, we've got kind of a mixed
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story. dow futures down 144, s&p futures down 10.25. but the nasdaq, look at this, we are higher by 25 points in the premarket. that is a tech story. we're going to get into it. and earnings season is kicking a off tomorrow with the big banks. we're going to hear from jpmorgan, goldman sachs, two dow components. what that means for markets and the broader economy, a lot of focus on earnings as we get started this week. stocks blasting high her with all -- higher on friday, and taking a look at global markets. you've got red arrows across the board in europe, all are in the red. and investors are really worrying about the economic recovery with that surge in the delta variant. also that story is playing out in asia overnight. but as you can see, there is9 optimism there. the hang seng, the knee quay, the -- nikkei, the shanghai are
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all higher. "mornings with maria" is live right now. ♪ ♪ cheryl: a little super tramp to kick off your week because it's going to be a super week for earnings. some of the top stories we're watching this monday morning, president biden's proposed global tax overhaul facing an uphill battle in congress. the plan getting the green light from the group of 20, the major economies over the weekend. this calls for a minimum corporate tax a rate of 15% and new rules for dividing power to tax large companies. business groups are calling on the administration to just hold on, wait a minute. the democrats are likely to push at least part of the legislation through congress this fall, they're once again going to use reconciliation, we think. well, senators heading back to work today follow ago two week recess.
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democrats are going to be doing a what they can to pass president biden's infrastructure plan, believing a resolution will be taken up in the coming weeks. vermont senator bernie sanders is still at odds over the size of the plan. sanders is calling for as much as $6 trillion in spending. well, president biden is set to meet with attorney general merrick garland and local leaders today to look for ways to curb gun violence across the nation. this comes as crime rates continue to soar in major u.s. cities. the chicago police superintendent david brown included and, get this, new york city democratic mayoral nominee eric adams who'll be officially the brooklyn borough president when he goes to the white house. and finally there's there, richard branson becoming the first billionaire to blast off into the final frontier. >> we're here to make space more
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accessible to all, and we want to turn the next generation of dreamers into the astronauts of today and and tomorrow. cheryl: the historic flight traveling more than 50 miles above the earth's surface. the crew experiencing zero gravity before returning to earth. virgin galactic is set to start commercial space flights next year. all right, let's take a look at futures right now. we've got a mixed story. we had those records on friday. the dow is lower by 15 is 6, s&p by 9.25, but the tech-heavy nasdaq up more than 29 points. all three major indices closing again at record highs on friday. you did have that with big selloff on thursday, worries about the inflation concern. but this is going to be a big week for investors as earnings season kicks off tomorrow morning. we've got pepsico, delta airlines, jpmorgan chase,
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goldman sachs, bank of america. i want to bring in advisory board member jeff salk, good morning, and also joining our conversation we've got rob lieu a that -- luna and fox news contributor sean duffy. guys, great to have all of you here. jeff, i want to kick off with you because, obviously, earnings is the big story. we've had a record rally the first six month of this year. these valuations of these company are sky high, and the earnings estimates i've been going through are sky high. there's a lot of pressure on these ceos to deliver. can they? >> yeah, i think they can. i think earnings are going to be up where between 60-65% for this earnings season, and i think the surge is going to continue. the economy's in good shape. and the companies are in good shape, and margins are going to hold up, and i think earnings are going to continue to surprise on the upside.
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cheryl: rob luna, what do you say? >> i agree. if you looked at levi strauss, they actually reported last week. not that they're a huge company, but an indicator of where the consumer is. they blew away numbers, the stock responded really well, and that was one of my biggest concerns, when they come out and meet these high expectations, how are the stocks going to perform. i think we'll find out tomorrow with the big banks reporting. probably my biggest concern, valuations high, expectations high, we're going to see what we get out of goldman and jp tomorrow. cheryl: and there's concerns about this global minimum tax, how these companies are going to be taxed around the world even though the may not kick in until next year. but at the same time, jeff, you know, with inflation and also you've got a lot of these companies saying they're having trouble getting workers to come back to work or take jobs at all, there's going to be concerns about productivity. >> yeah. well, first of all, i don't think inflation is all that high. you know, if you look back over
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the past 50 years, inflation is still extraordinarily low, and i think that bodes well for the stock market. as far as the lack of workers, that's an issue. and i don't know how it's going to be resolved, but i don't think it impedes the stock market, and i don't think it impedes the economy. cheryl: jeff, i want to point your attention then to this new survey from the "wall street journal" because several leading economists say that higher inflation is going to last -- not only is it here to stay, but it's going to last several years. they see inflation ticking up 3.2% for the fourth quarter of this year. obviously, that's year-over-year, so you've got a pandemic comparison going on. but then when they talk about 2023, their saying up more than -- they're saying up more than 2%, and i would think that would be a market negative. >> i think the markets and the economy and the powers that be actually want inflation to come back. and inflation at 2 or 3% is nothing. i mean, i can remember 20 years
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ago when it was running 15, 16%. so i don't think it's an issue. cheryl: you're talking about the '90s which, i guess, to your point, that, of course, was the tech boom. those were good times -- didn't end so well, but they were good times when we had them. that's a good point. let me get back to that international corporate tax deal. this is pretty wild here. they've got one of the hard hurdles to face, and that's congress. congress is going to have to approve, and i think there's going to be a lot of discussion and debate about this. even though the group of 20 said they want to see this go through and you've got treasury secretary yellen saying she's confident congress is going to pass the legislation needed to implement this, at least the deal's minimum tax rate, business groups are up in arms. they are saying what they want, these governors, excuse me, these leaders in the g20 and around the world just the wait. they say wait until we get more
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data on inflation, on the markets. what do you say? >> you know -- [laughter] companies and corporations are always going to be -- don't want corporate tax rates to go up. i think unless they really hike tax rates on corporations that a marginal increase in corporate tax rate is not going to hurt all the earnings all that much. i think earnings are going to continue to to come in better than expected, and i think that's positive for the equity markets. cheryl: that's interesting. rob, what do you say to that? we're talking about if the lawmakers in d.c. do this, you're looking at a 15%, you know, minimum corporate tax rate jump. >> yeah. i mean, as we know, cheryl, a lot higher here in the u.s., they're talking about taking it high her. i think in terms of the u.s. position in global competitiveness, i don't think it's a bad thing long term. shocker that corporations don't want to pay higher taxes. that being said, we are in the
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middle of a pandemic, we're starting to see a resurgence, i don't know now is the time, but long term i don't think it's a huge issue for markets. cheryl: i wonder if we're going to hear from pepsico on this, jeff, when they come out with numbers. you would change the way their global earnings are taxed. meaning that you might get a break in ireland, but you're not going to get a break in france or the u.s. when it comes to one uniform tax rate and it averages out, that could be a little bit of a hit. i don't know, just throwing out the question. jeff, great to see you, sir. >> thank you. cheryl: all right. talk to you soon. well, here's your morning mover. this is didi. the stock is under pressure again. we are down about 4% right now. the company says that moments ago -- they just broke this news -- they're going to be taking 25 apps in china off -- because of that cybersecurity crackdown. china, basically, is continuing
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to go after didi, so they're going to take down these 25 apps in china. they just went public. this, obviously, is going to have a negative effect on revenues if this goes through but, again, taking down 25 apps in china, and this is because of the chinese government going after didi after the ipo. u.s. investors beware. coming up, crime in america. former nypd lieutenant darrin porcher is here amid the spike in crime we've been reporting on. what needs to be done to address. this and then in the next hour you've got former dhs acting deputy secretary ken cucinelli talking about the border crisis. we've got all the latest numbers on apprehensions and gotaways that you will not see anywhere else, just on this program. and then in the 8:00 hour, tennessee senator marsha blackburn is going to be talking about president trump's big tech lawsuit and what is next after our troops leave afghanistan. then former george w. bush
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senior adviser brad blakeman talking the perilous congressional path for the global minimum tax deal. don't miss a minute of it. you're watching "mornings with maria." we are live on fox business with. happy monday. ♪ all we need is somebody to lean on ♪♪ (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything.
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cheryl: the results are in, president tp taking the top spot in the 2024 cpac straw poll, and it was a landslide with 70% support. maria bartiromo asking the former president about a future run on "sunday morning futures." listen. maria: you ready to get back in that ring and run for president again, sir? >> well, i do know my answer, but i can't reveal it yet.
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because that has to do with campaign financing and everything else, you know that, so i can't reveal it yet, but i absolutely know my answer. we're going to do very well, and people are going to be very happy. cheryl: we're going to do well, but i can't reveal my answer. i want to bring in democratic strategist kevin walling and madison firm lead partner jonathan madison. jonathan, your thoughts on what you just heard from former president trump. >> oh, it sounds very promising to me. i mean, he has every reason to have the utmost confidence in the 2024 run. i mean, the closest candidate behind him in the poll was governor desantis, and that was at 21%. i think all of the remaining 19 candidates, potential candidates couldn't even reach past the 1% margin. so for all intents and purposes, trump is the guy -- [laughter] as far as the cpac poll goes. i think he also has some support behind anymore other ways. he's launched a lawsuit against big tech companies.
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he's doing a lot outside of being a president, so sounds promising, sounds like he's excited about it. cheryl: yeah. we're going to talk more about that lawsuit in the next few minutes but with, kevin, it's not just about 2024, but also former president trump's role in the midterms, you know? kevin mccarthy is already talking about the fact that he believes there will be a shift in the 2022 midterms, and president trump's voice will be a large voice in that, correct? >> yeah, cheryl, you're absolutely right. and, again, we're less than 500 days from this crucial midterm elections, and we're in complete agreement. this is the trump party coming out of this conference that we saw the last three weeks in dallas, texas. now, he's reserved a lot of time in his speech to air grievances against fellow republicans which is certainly something that kevin mccarthy doesn't want. he wants to spend resources on the offense and not defense, especially with those ten republican house members that
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voted for impeachment in that second impeachment. so again, cheryl, the a great question. 500 days from the mid temple election -- midterm elections, and we'll see the role the former president plays, certainly. cheryl sean duffy, your thoughts on what happened over the weekend. particularly that straw poll. >> well, it wasn't surprising, right? this is a cpac poll, it's a very conservative group of republicans. obviously, they love donald trump and ron desantis. but if i could, i want to ask jonathan a question. when you looked at the 2020 election, you had a lot of personalty in that election. joe biden's a nice guy, donald trump's kind of mean. and i think donald trump is saying the same things he said five years ago. do you think donald trump can now win on the policies that he had for four years and now run against joe biden whether it's on the border, crime, high gas prices? will that work four years later when it didn't work in 2020? >> absolutely. i mean, if you think about it, one of the great things about
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leadership is it tests your ability to lead. and one of the things we've seen under the biden administration is he's not doing a great job at a leading on border security policies, under getting tough on crime and under a number of other policies. we're seeing an uptick in crime throughout the nation, surges, we're seeing all these police departmentses being defunded by these movements and what not. weaver seeing kamala harris go to the boarder and say she's to got -- border and say she's got everything under control, but she's ignoring the harshest parts of the border. i think what we're seeing is a breakdown in biden's actual policies. so now the rhetoric is going to be different when trump comes back, if he comes back in 2024. he's going to be able to just point out a discrepancies and failures from the bide with. en administration as opposed to just theories. leadership's going to be tested here. cheryl: i want to get ken in for a last -- kevin in for a last
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word. president biden seems to have been very, very slow to address the crime and the violence that we've seen across -- over the last year. remember, george floyd was a year ago. the riots, the protests, that was a year ago, and he's just now bringing leaders to the white house today. july 12th. to talk about crime. kevin, that, to me, is an opening, i think, for any republican that wants to challenge joe biden. >> yeah, cheryl, you're seeing eric adams as the winner on the democratic side, former police officer, in that new york mayoral primary, ran on funding the police, more resources for the police. so it's a good question. i think the white house is certainly focused on crime as a key issue in the midterm election, certainly in the suburbs too. we saw the suburbs slip for president biden in this most recent election, it's going to be up to the president and congressional democrats to keep those in blue control coming into the midterms. it's a great question. cheryl: eric adams on the sunday
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talk show circuit and he's not even the mayor of new york. think he's got a pretty good chance at this point -- [laughter] >> i think so too. cheryl: kevin, jonathan, good to see you both. >> good to see you. cheryl: we've got a lot more coming up. president trump talking with maria before hitting the stage at cpac. what he said about his big tech lawsuit, that's coming up next. plus, the race to space. how you can score a seat on next year's virgin galactic flightings. the morning buzz coming up -- flights. the morning buzz coming up. ♪ -- know you want to play with magic. ♪ with boy, you should know what you're falling for. ♪ baby, do you dare to do this? ♪ 'cuz i'm coming at you like a dark horse ♪♪ it's the simple act of enjoying time with friends, knowing you understand your glucose levels. ♪♪
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cheryl: takeing on big tech. former president trump speaking with maria yesterday laying out his case for suing google, facebook and twitter for censoring him. maria: tell me why this is different. we've been told that social media cannot be sued, so why is it that you are able to launch this lawsuit against twitter, google and facebook and their ceos, sir. >> well, we're working with the america first policy institute, brilliant people, great lawyers. everybody's so enthused. people are joining because it's a class action. it's not about me, it's about everybody. and people are joining left and right. they're joining at a level that nobody -- i can say this on your show, it's take on big tech.com. take on big tech.com, and they're joining like, like, i don't know, i guess probably most of these class actions have never seen before. and what it is, is they're taking away their freedom of speech, they're taking away your right to speak. they're taking away everything, and they get powers. cheryl: so, sean duffy, you
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know, matt whitaker, former u.s. acting attorney general was with maria last week and he said even though the mainstream media is kind of dismissing this lawsuit from the former president, it actually has legs first on section 230 which still protects these company from, you know, prosecution. and also on the issue of the first amendment. and so really, sean, it seems that this could move forward. again, it's a class action. we're talking trillions of dollars here that they could be liable for. >> yeah, no, it's a beg deal. first of all, on the politics of this, i think a lot of americans are grateful that president trump is willing to fight back against big tech. he is engaging in trying to fight and making sure people have the freedom to express themselves in the public square. it's incredibly important. and we look back to section 230, that was implemented when we just had these start-ups, small little companies like facebook and others that were online, and we didn't want them to be liable for the content put on their
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platforms. we wanted a platform for free speech, right? and now they're the biggest companies in the country, in the world, and now that they're censoring speech, i think there's a significant argument to make there. and in regard to the issue of is this a constitutional violation, i don't know unless president trump can prove that there's collusion between the government and big tech, so big tech is an agent of big government. it'll be interesting to see how the case develops. but again, to have the president push back and fight back, i think is really important for a lot of americans, and it's a in line of what the president was doing for four years of his president i city. cheryl: it's a real issue, rob, and "the wall street journal" says trump can win his case against the tech giants, there's ample precedent for calling this state action. >> yeah. and i think to sean's point, cheryl, you know, at the end of the day even if he doesn't win, the fact that he's bringing this to light is extremely important.
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when you look at platforms like twitter, facebook, since gram and and you look -- instagram and you look at the generation of millennials who are cradle to grave with technology in their hand, this is such an important media platform. and the inability to get out there and express yourself especially in politics to such an important dem graphic is a huge issue. it's very good this is coming to light. whether or not he wins, we're going to have to wait and see, but a very important topic. cheryl: whitaker was saying it'll probably go to the supreme court. guys, thanks very much. coming up, america's crime crisis. how the white house hopes to curb the growing nationwide problem. former nypd lieutenant darren or porcher is going to weigh in. plus, a winning wimbledon. the highlights coming up next. ♪ ♪ eteran made of doing what's right,
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cheryl: and welcome back. i'm cheryl casone in for maria bartiromo. it is monday, july 12th. we are looking at a mixed kickoff to our week right now on this monday. dow really under pressure right now as we're heading into earnings season. we are down 181 right there, about half a percent loss. s&p is down 14.25, but the tech-heavy nasdaq is up more than 19 points. everything game on, yes, tomorrow. excuse me, game on tomorrow. earnings season kicking off. we have all the big banks. we're going to hear from jpmorgan, goldman sachs. what this is going to mean for the markets and for the broader economy. stocks ending last week higher with all three major averages closing in record territory on friday. and then taking a look at the global action right now, european stocks are pointing lower. there's a lot of talk about that global minimum tax, by the way, in europe. they're all in the red. investors are worried also about the economic recovery because i you've got that surge in the delta variant that is affecting
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european countries in particular. and then taking a look at asia, reverse story. green across the board. the nikkei and the hang -- shanghai really performing, up more than 2.25%. and some of the headlines we are watching this morn, a denver hotel maid tipping off police, possibly foiling a mass shooting plot at the mlb all-star game. investigators say she found a stash of guns inside a hotel room just one block away from coors field. police arresting four people. the fbi does not believe they are connected to a terrorist organization. coors field will host the game tomorrow night. bytedance, the chinese company behind tiktok, has reportedly put its ipo intentions on hold. according to a report in the "wall street journal," and the decision came in late march after ccp officials told the e company to focus on data security risks and other issues. bytedance was last valued at
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$180 billion last during funding rounds. -- last december. but again, the government meddling, and they're back off. gm issuing a recall for more than 400,000 pickup trucks because the airbags can explode. the affect models are listed on your screen. there have been reports of airbags exploding in three unopen occupied trucks, and there are the three vehicles you need to be looking at. and dennis star mauve advantage djokovic making history at wimbledon. [background sounds] [cheers and applause] [cheers and applause] >> he has done it! major title number 20! cheryl: what a win, beating italian matteo barrettini yesterday to win his 20th grand slam title.
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he is now tied for the record with roger federer and rafael nay a call the. congratulations on that. well, switching gears. fighting crime in america. president biden is set to meet with attorney general merrick garland and local leaders today to look for ways to curb gun violence across the nation. and get this, new york city democratic mayoral candidate eric adams, who just admitted his party's priorities on gun laws are misplaced, is expected to attend. this comes as biden announced just last week that he is sending a strike force to chicago to help curb violent crime. ing 55 homicides reported in chicago so far this year. i want to bring in former nypd lieutenant darrin porcher. i can't believe that finally president biden, a year after riots took over american cities after the murder of george floyd, that we're just now seeing president biden address this issue. too little too late?
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>> i don't want to say too little too late, but he's basically -- the gate is closed after the horses escaped. but what we're going to do from the perspective of a law enforcement view is we want to employ those resources from both the federal and local governments to insure that we can gain a precipitous drop in crime. that being said, as you mentioned earlier, eric adams, the mayoral candidate for new york, is looking to gain a partnership with the federal government so we can achieve the intersection of crime reduction in a mace like new york. and that's -- place like new york. and that's where the federal government can employ resources such as atf and other agencies that can partner with the localized officers such as the nypd. what's happening in chicago is something that should have happened years ago because crime has always been on a meteoric rise in chicago. and the basic question of you need to get your head from being buried in the sand and focus on
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the problem which is the siege of gun violence, and the cure is law enforcement as a result to move forward. cheryl: but, darin, president biden was on the tarmac with lori lightfoot, the mayor of chicago, for -- who knows what they discussed. but at the end of the day, she's not doing much. she comes back when she's asked by reporters and mayor de blasio does the same thing, when they're asked by reporters you've got this defund the police movement, homicides are on the rise, black and brown communities are the ones suffering, and this defund the police nonsense, she'll say, well, it was to covid. well, we've had the perfect storm. if you're listening to mayor de blasio every day which i, sadly, do most days because of what we've seen in this city. they're gaslighting president biden. i don't think eric adams will today when this meeting happens this afternoon, but so far these other progressives are ignoring him. and i think it just shocks me that they're just so -- gaslighting is the only word i guess i can think of right here. >> this can be a watershed
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moment for the democratic party in relation to crime reduction. and, you know, in defense of mayor de blasio and mayor lightfoot, they're incompetent politicians that shouldn't be in office. so hopefully, we can revolutionize the strategy from the perspective of where eric adams stands because he clearly understands that gun violence is an epidemic, and something needs to be done to stem it. we look at the current governor in new york, governor cuomo, has just recently mentioned that he's looking to embark upon an endeavor to reduce gun violence. but it goes back to what you said earlier, cheryl. this has been going on for years on end. now why is governor cuomo coming to out and saying that he wants to do something? a change needs to to happen, and it needs to happen now, and this is something that's been consistent throughout the country with democratically-elected politicians. they just really haven't gotten it, and i just think that -- i'm hopeful that a partnership between the federal and state
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governments can run in tandem to reduce crime as a result. cheryl: because if you don't get crime down in this these cities, you don't get business coming back. i want to bring in sean duffy in particular this meeting this afternoon, i think it's about 1:15 this afternoon at the white house, sean. your thoughts? >> yeah. listen, i think this is absolutely ridiculous. i was a former prosecutor. this is really simple. you don't need a task force or a summit. what you need to do is actually arrest criminals, prosecute criminals and put them behind bars. if you defund the police or you have a democrat party that messages to the community that you don't have to respect police, and i've seen the videos out of new york where water balloons are thrown9 at police, they're harassed as they're trying to do their job, people don't respect them, all of a sudden you have chaos on the streets. this is not a gun problem, it's people who are using guns because they're not behind bars. the democrats are sitting back and are scratching their head, i wonder what could be happening with violence. well, maybe it's because you defunded the police or you let
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violent criminals back out on the street or you had sentencing reform. democrats have focused more on defendants and not on victims. let's look at some of the victims in community, and i think this is, you know, for a hundred years, this'll work if we enforce the law and put bad guys behind bars. cheryl: gentlemen, new york congressman leen joined maria on "-- lee zeldin joined maria yesterday, and here's his plan. listen to this. >> support law enforcement more, not less. reverse cashless bail here in new york. keep qualified immunity. enact a bill of rights for law enforcement that recognizes their right to self-defense, that gives them the resources they need to insure they aren't unfairly targeted. i was raised in a law enforcement household. i'm hearing it from all across our state from people from all walks of life. they want to strengthen public safety in our state. cheryl: congress mann's running for -- congressman zeldin's running for governor of new
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york. your reaction. >> i think he has a tremendous point or tremendous platform in connection with aligning themselves or aligning the police with politicians. but this is something that reallies has fruits to bear in terms of how it's going to be rolled out. i go back to what's happening for years on end with not just new york, but on a national level. politicians have been aligning themselves with the radical left. after the death of george floyd, the riots that plagued the entire nation, and they've not done what's necessary to align themselves with law enforcement because the symbiotic relationship with police and elected officials has not occurred. so as a result, we've experienced this meteoric rise in crime. we need to take back our streets, we need the take back our cities, and i wholeheartedly support congressman zeldin's campaign for above because governor cuomo -- governor because governor cuomo clearly has not got it.
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i hope we can change the trajectory. cheryl: he's got a good chance in this state. darrin porcher, thank you very much, we appreciate it. >> thanks, cheryl. cheryl: all right. we've got more coming up. questions about these covid vaccines. top medical experts are weighing in on the possibility of a booster shot. we're going to get into that coming up next. you're watching "mornings with maria" lye on fox business -- live on fox business. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ summer is a state of mind, you can visit anytime. savor your summer with lincoln.
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cheryl: eyeing a potential vaccine boos. i am speaking with one doctor next about whether you could need another shot. we're going to come back and talk all about it in two minutes' time. and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. i've spent centuries evolving with the world. some changes made me stronger.
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cheryl: the debate over covid vaccine booster shots. pfizer set to meet with u.s. officials about getting fda approval for a third dose of its vaccine but this comes as dr. anthony fauci says fully vaccinated americans do not need an additional shot at this time. i want to bring in an infectious disease expert and senior scholar. doctor, good morning. so pfizer is saying, they think that a third shot's going to be needed, in particular for what's being reported before those 70 and older, those that have compromise immune systems, okay? fauci is saying there's no need for that. where are we here? what do you make of this? >> so is if you're a generally
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healthy individual, somebody who's fully vaccinated, i don't think that boosters are going to be needed in the short term. but there are some subgroups. immuno-suppressed populations you might see a booster being recommended at a shorter interval. we're not going to make a decision without clinical data showing that fully vaccinated people, elderly or healthy, are getting breakthrough infections that are landing them in the hospital. and that's just not happening to a high enough degree for me to say that there's a need for a booster in the near term. i think it's important to study boosters, to have some kind of path to get them approved, but it's not something i see happening in the short term. cheryl: i know there's been some reports out of israel and the u.k., that's what they're looking at. but we shall see. there's this new report from the "wall street journal" highlighting how it's young americans that are not getting vaccinated right now. what do we need to do to increase the rates in the young? >> the young people generally
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are spared from severe disease, and that might be influencing their decision to make a decision to get the vaccine. and that's very hard to combat because all of the young people who really wanted to get vaccinated have gotten advantage cincinnatied. so now it's hard to -- vaccinated. what really works, what i find really works is talking to people one-on-one, trying to understand what's holding them back from getting a vaccine. trying the address their concerns as best as possible, and that's often better when it's by somebody that they trust, maybe a primary care position, a community care leader. that's how we move the needle. like i said, these are people who have all been vaccinated and now we're hitting a wall. cheryl: and now we're changing our minds again about what to do with kids and schools, and now the guidance is that children that are vehicle city nateed, you know -- vaccinated, you know, the cdc is saying vaccinated teachers, kids, they don't have to wear masks indoors. >> that's clearly supported by
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the science. if you're fully vaccinated, you're no longer a threat to others, others are no longer a threat to you. so this is about trying to notch that kind of guidance for something operational like a school, and i think it's the at least be -- it's going to at least be better this school year than last school year. there's still a lot of work to do. we know that if you have social distancing, if you've got mitigation measures in place, you can conduct schools, and we know that children really suffered throughout this pandemic not because of what the virus was doing to them, but what adults were doing to them in terms of keeping them out of school. there's a lot of social problems that i think we're only beginning to see. this is at least a good step in the right direction with the cdc basically making it the default that schools should be open for in-person's learning. cheryl: my friend's daughter is depressed. she's 7. she's 7 years old. what this has done to kids across the country, it's really heartbreaking and, gosh, i can't wait for these kids to get back
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to normal. doctor, thank you very much. good to have you, as always. >> thank you. cheryl: all right. we've got a lot more coming up. your ticket to space, how you can score a seat on next year's virgin galactic flight. the morning buzz is next, stay with us. ♪ ♪ ♪ limu emu & doug ♪ oh! are you using liberty mutual's coverage customizer tool? sorry? well, since you asked. it finds discounts and policy recommendations, so you only pay for what you need. limu, you're an animal! who's got the bird legs now? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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it's time for sleep number's lowest prices of the season on the sleep number 360 smart bed. it's the most comfortable, body-sensing, automatically-responding, energy-building, dually-adjustable, dad-powering, wellness-boosting, foot-warming, temperature-balancing, recovery-assisting, effortlessly life-changing proven quality night sleep we've ever made. don't miss our weekend special. the new queen sleep number 360 c2 smart bed is only $899. plus, 0% interest for 48 months. ends monday. ♪ cheryl: it's time for the morning buzz. win a free flight to the final frontier. virgin galactic giving away two free seats on its first commercial space flight next year. this coming on the heels of
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founder richard branson's flight to space over the weekend. people interested could make a charitable donation to help fund future space travel. the missions will be accepted, winners announced later that month. rob, now we've finally seen richard branson in space, and i think the image if, to me in my mind, say that this means that we're going to see a big business coming about from space tourism. what do you think? >> yeah. no, absolutely. i mean, and a quarter of a million dollars a pop k and apparently there's hundreds of thousands of people that are lined up to do it. i think it could be an extremely profitable business, and kudos to richard branson for being the proverbial guinea big to get on there, get ahead of musk, bezos. and now that they're giving it away free, that's pretty exciting for people. for me, cheryl, i'm afraid to get on a hot air balloon, so you couldn't pay me a quarter9 of a million dollars. [laughter]
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cheryl: i'm not looking forward to it either. sean, what do you think? do you think people are ready to go to space? >> absolutely. the average person who can't afford $250,000, to be in a lottery is really cool and general rouse. this is not going to be like a. hundred years ago the evolution of air travel. we don't need to go to space really, but i think there's a lot of excitement about, you know, can i be weightless, can i looked at the earth from space. i think it's thrilling. cheryl: i want to get your take, sean, on this new swim wear line for soup lovers. panera's celebrating mother bread logo, that's the soup, and then broccoli cheddar soup, also selling a pool float that looks like one of the bread bowls. these are $25 each. i'm wondering if that's going to be in your pool this summer for all the kids. >> okay, cheryl, here's the deal. i'm not a fashion guru, but i don't think i'm going to wear panera shorts, my wife's probably not going to wear a
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panera bathing suit. this is kind of weird. stick to coffee, sandwiches and salads, i love those. i don't want your swim wear. by the way, in hot weather on the west coast they had last week, people were still eating soup when it's hot. and i couldn't grief with that more. i drink hot coffee when it's 959 degrees, so i'm all in on soup, but not the swim line. [laughter] cheryl: and rachel is much too fashionable to ever put i on any of those outfits. [laughter] >> very true. cheryl: thanks, guys. previewing earnings season. the state of the bond market and inflation on the rise. a lot to talk about on the minds of investors. and we've got top investors watching your money this morn it all starts next hour on "mornings with maria" live on fox business. ♪ thunder, feel the thunder, lightning then the thunder. ♪ thunder, feel the thunder,
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>> good morning i i'm cheryl casone, in for maria bartiromo. it is monday, july 12th. a look at your top stories, president trump's 2024 hint, what he told maria bartiromo about his political future. >> are you ready to get back in the ring and run for president again, sir? >> well, i do know my answer but i can't reveal it yet. >> more on that, plus his case for taking on big tech. turning to markets this morning, we have got a mixed bag to he show you after the big records on friday. as you can see, the dow is down 183 points, s&p down 13 and he three quarters, the tech-heavy nasdaq is up by 25 points. we have two stories happening on wall street right now. earnings season is kicking off tomorrow with the big banks. we'll hear from jp morgan and goldman sachs, what it means for
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markets and the broader economy. stocks ended last week higher again, all three major averages closing in record terry on friday. the bull market continues. taking a look at global markets, red across the board in europe, a lot of talk about the global minimum tax there. the ftse, the cac, the dax are lower. but obviously asia is a different story even though we're worried about the economic recovery around the world. the variants. you've got the kospi, the hang seng, in the green. "mornings with maria" a is live right now. and some of the top stores rise we're watching for you this morning. president biden is set to meet with attorney general merrick garland and local leaders today to look for ways to curb gun violence across the nation. this comes as crime rates continue to soar in major u.s. cities. the white house meeting will include the chicago police department superintendent, dc
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mayor and democratic nominee eric add a dams. thousands of -- adam. thousands of cuban protesters taking to the streets demanding an end to the country's communist dictatorship. cuba is facing its worst economic crisis in decades exacerbated by a surge in coronavirus cases and a he low w vaccination rate and food shortages. cuban americans are showing their support, packing the streets of miami's little havana yesterday. well, president biden's proposed global tax overhaul facing an uphill battle in congress, the plan getting a green light from the group of 20 major economies over the weekend. this calls for a minimum corporate tax rate of 15% and new rules for dividing power to tax large corporations. business groups are calling on the administration to wait. democrats are likely to push at least part of the legislation through, you guessed it, l theyl use reconciliation in congress.
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finally, richard branson beating jeff bezos and elon musk to become the first billionaire to blast off into the final frontier. >> we're here to make space more accessible to all and we want to turn the next generation of dreamers into the astronauts of today and tomorrow. >> the historic flight traveling more than 50 miles above the earth's surface. the crew experiencing zero gravity before turning to earth. virgin galactic is set to smart commercial space flight next year. well, time for the word on wall street, top investors watching your money. joining me now, securities head of u.s. rates, gregory faranelo, rebecca wallser and michael lee strategy founder, michael lee. good morning to all of you. >> good morning. >> good morning. >> mike lee, how excited are you? we're going for earnings. you know what, there's a lot out there to think about. first you've got futures mixed, obviously, tech heavy nasdaq is higher.
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you had obviously a big week on friday. so the first half of the year's been incredible for nature gets, mike. now we're going into earnings season, valuations are through the roof. the expectations are incredibly high for the banks, for a lot of the companies, i've pointed to the numbers already. then you've also got the fact that the ceos will have to tell investors how they're going to keep growing, how they're going to keep making money. i think there's a lot of pressure on these companies this round. >> yeah, absolutely, cheryl. but what i think is not talked about enough and the big story of earnings since roughly a year ago is that analyst estimates have been way too low and what historically has happened is analysts come out and they're so overly bullish that analyst estimates steadily come down as the year goes on. since the third quarter of last year, it's been the opposite. and so we're looking at 65% earnings growth. a week ago, that was 62%. of on march 31st it was 52%. earlier this year, the quarter was looking at about 20%
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earnings growth. so as the year has gone on, the expectations for earnings keeps going higher which is the direct opposite of the history of sell-side analysts on wall street. so we are going to see gang buster earnings from the banks this week, they're going to absolutely blow the doors off. however, i think the treasury curve and yields declining is going to -- what dictates the stock price movement of so i don't think i would be a buyer of any of those energy -- i'm sorry, any of ganging stocks but i -- banking stocks but i do think we'll see blowout numbers from them. what i'm looking at closely is the guidance for the third quarter and the fourth quarter. i expect to see both of those numbers up. so as we sit here and talk about this a month from now, estimates for the third quarter and the fourth quarter will be materially higher and i think we're going to come in closer to 70% earnings growth for this quarter which will only lag the fourth quarter of 2009 which was up i think 109%. so it's going to be a really spectacular quarter in terms of earnings and i think when people
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see that, they're going to feel a lot better about stock price valuations. >> and i think you make a really good point about the banks because even though you're saying they're going to have strong results, the interest rate environment is an issue for them and i want to get more into that because bond yields and interest rates, let's talk about this, greg. u.s. treasury yields falling this morning ahead of the june inflation data out tomorrow. there's a big report coming out tomorrow. you've also got by the way, we've got retail sales on friday, you've got ppi on wednesday. i mean, we've got a lot going on as far as the inflation data this week. and then the yields of the 1 s 0 year note and -- 10 year note and 30 year are dipping this morning. you said the biggest story for markets is rates which coincides with mike's point about the banks. >> sure. good morning, cheryl. i mean, i think equity investors are clearly watching the rate market. the primary question really i think is what are rates signaling in a nutshell and i
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certainly think equity investors would rather see a 150 10 year yield versus a 1% 10 year yield. in a 10 year space, back close to negative 100 basis points. if that were the case a year ago, i think it was a much different scenario for equity markets back then. in general for us, it's generally about when you see moves like this, it's generally about positions and i always say in rate markets really what's the catalyst. if you go back to the first quarter of 2021, we feel the catalyst was the georgia runoff election where we had asymmetry on the fiscal side, on the monetary side. that's really where you start to see rates take off from there, exposing positions. we had real yields going higher, vaccination levels going higher. there was a real growth story in the market and we had some problems on the treasury auction side with some sloppy auctions. around 178, we stopped out what was the catalyst there, it was
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positions. people were very, very bearish in the marketplace and we've seen some real money buying, insurance companies, pension funds, foreign central banks and the reality is, the fed is still buying here. we talk a lot about talking, talking about tapering, now we know they're talking about tapering but as all this talking is going on, the fed is still taking 120 billion of securities out of the marketplace each month at the same time that the treasury now is spending a lot of the cash that was raised last year into the marketplace, supply has really come down. so those dynamics have really, really shifted. the catalyst i think for this last move was the june fomc meeting where the chairman himself made what we think is a prudent pivot by saying, yes, we still think inflation is transitory for the most part, with a big but. and that big but is it's come in much stronger than expected and it copper severe for -- could
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persevere for longer than we think. we don't think they abandoned the framework of inflation averaging above 2% for some time but we do think they're trying to do risk management around that and what we saw coming out of that meeting was an extreme move in the yield curve, flatter. if you look at five-year yields, june 1st relative to now, unchanged. if you look at the forward curves and look at the long end of the curve, we've had a massive compression. so to me, that's a lot of outpositions in the marketplace on a global basis. the reflation themes of the first quarter into the second quarter now we're in the third quarter coming down. in an around 125 which is where we got to last week, it's the 200 day moving average. i think it's a key area to watch. if you look at the peak in yields, in 2018 through the bottom in 2020, below that 200 day, if you look at the move higher in yields, 2021, even this move lower, still above the 200 day moving average so that would be a level we would catch closely short-term.
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>> you had several points that were really big. i want to pick up on the point on inflation and take it to rebecca. there's a huge survey from the wall street journal, ebb on mists are saying -- economists are saying higher inflation will last for several year, they're saying it will be at 3.2% in q4 this year and inflation will be up more than 2% for next year and 2023, rebecca. so those fears, that translates to pressure at the pump, gas prices are up 40% since january. this goes to the consumers, that could be a problem. what do you say. >> i absolutely agree, cheryl. this is not a transitory -- as transitory as the fed probably wants to acknowledge. the q4 estimate that's the consensus, that's core cpi. that excludes volatile food and energy cost as we know. when you start to add in the higher cost of increase in food and energy specifically energy, these are some of the largest gas increases we've seen in decades, and obviously the
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pipeline shutdown is also a factor but it's not just pure inflation. cheryl, obviously we cannot act like inflation is transitory when we're like everyone else has said, the fed is still doing 120 billion purchases per month, 1.3 trillion a year. you add that to the fiscal policy of legislative things centered around coronavirus, arp that was passed in march, you've got 6 plus trillion from legislative being pushed into corona recovery and you still have the fed buying at 120 billion per month and you're going to see inflation if we don't start to balance a pullback. so i agree with the fed looking at jackson hole and saying should we look at this because it is not as secure as they they want. >> it's coming in faster and hotter than they want. we're going to get all that data this week. there's a lot of market move happening by the way on this program. greg, rebecca, michael, thanks
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so much. great to see all of you. great word on wall street. we've got a lot more coming up this morning. former dhs acting deputy secretary, ken cuccinelli on the border crisis. we have the latest numbers on apprehensions and got-aways, maria always talks about that. you're not going to see these numbers anywhere else. coming up in the next hour, the threat from china. now that the u.s. has left afghanistan. tennessee senator marsha blackburn is here. then president trump takes the top spot in the 2024 cpac straw polls of. we'll look at what that means for the republican party with former george w. bush senior advisor, brad blakeman. plus returning to the office, work from home is ending for tech titans and big banks, the great resignation is that coming, we're going to talk about it. joining the conversation all morning long, you've got rob luna and sean duffy. you're watching "mornings with maria" live on fox business. with diabetes, it's more.
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cheryl: taking on big tech, president biden's executive order on friday establishing policies looking more closely at large mergers and encouraging the ftc to establish new rules involving online surveillance and user data, this as president trump is suing tech giants facebook, google and twitter for banning him from their platforms earlier this year. i want to bring in new jersey congressman, homeland security committee member and transportation and infrastructure committee member, jeff van drew. congressman, good morning. >> good morning, how are you? cheryl: good, good. what do you make of the fact that the president seems to be giving the ftc a lot more power? >> well, you know, i'm concerned with it. i mean, this is something, first of all,s he's made recommendations, suggestions, what are the specifics and i guess the ftc is supposed to work that out but how about maybe republicans and democrats in a bipartisan way do legislation that is really
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meaningful, that addresses some of the issues he spoke of. first of all, we don't really know how they're going to get involved in the marketplace and that's something that is concerning. and secondly, we want to make sure that we can do some good legislation to help seniors with drug prices, to help individuals be able to compete with very, very, very large corporations in a fair way, though, and most of all, most of all this is about freedom of speech big tech is not allowing and the internet is not the open market place of ideas that it was always supposed to be and that concerns he me a lot. it's a first amendment right, it's why the president is suing, whether you like the president or don't like the president isn't the issue. he was the president. he has a right to be on this open marketplace of ideas. cheryl: rob, i want to bring you into this. again, this is trillions of dollars that are on the line
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here against these companies. rob: yeah. i mean, absolutely. these are such important platforms today for whatever you need to do, business, running for office, obviously. we talked about the millennial generation, the largest generation in u.s. history. that's the way they're consuming media. if we're allowing hollywood, allowing the big technology companies to construct the narrative, that's a slippery slope. kudos for president trump bringing this up. what the outcome will ultimately be, i'm not sure. this is a very important issue he's bringing to light. cheryl: it's a class action lawsuit, likely going to the supreme court, many experts have told us. maria spoke with congressman lee zeldin yesterday on sunday morning futures about what's happening down at the border, congressman van you drew. i want to get your reaction after this. listen. >> it's a staggering crisis at our border right now. reality is setting in. we have as members of congress an oath that provides for the
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common defense. we should be funding department of homeland security and i.c.e. and customs and border patrol. we should be strengthening our borders, enforcing our rule of law. so it's important for those in government to provide all of of the he resources to law enforcement to do their jobs safely, effectively, because this is not just something that crosses a border but it's something that quickly spreads to cities and communities all across our country. cheryl: congressman, your reaction to that? >> lee is right on target. you know, i literally interviewed secretary my i don's in our homeland security meeting that we had and i said how are things at the border and he said i think we're doing well and i literally got to the point, i was asking him question after question about the fentanyl that's coming in at record rates at the ports, there's enough fentanyl in the united states of america now to kill every man, woman and child many times over. i asked him about the children that are being used as drug
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mules, the children that are being used and abused to get other people over the border, literally take are getting sexually abused, physically abused as well as women going through this. it's awful even for them. i asked him why do we have an agreement before with the northern triangle and a we had an agreement with mexico to hold folks there and they were treated decently by the way. some of them were even working and doing other things. president trump had worked that out. we broke that open completely. we have broken our borders open and he just didn't see it and i told him this is what i really believe. it's bizarre. it is such bad public policy that it is bizarre. it's like looking at your hand and saying that you don't see it. i have no idea what they're doing. it's awful for the country. it's awful for that section of the world. cheryl: not to get political here but i want to bring in sean duffy because this may hurt the democrats when the midterms come
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around. sean: i think it may. this is not just a border issue. this is an american issue. and the border laws are broken and democrats are using that to open up the border and let people he flow in. jeff is uniquely positioned and he famously switched parties and now he's a republican. the only way you're going to fix this problem is if republicans and democrats come together of. do you think you can get bipartisanship to fix the border in congress? >> i think that we k i don't mean to be so partisan when i say this. i think it's going to take us winning the next congressional race, getting a new majority and i think we'll be hopefully then able to work because right now, i'll tell you that, you're right, i did change. in the last session there were five, six, eight, even sometimes 10 democrats that would move over and vote with the republicans. take a look at this voting session. not one, not ever on any
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important bill. zero. they are being sew whipped and -- so whipped and structured right now that even people i know to be a little more moderate, they're not doing it. i don't understand it. cheryl: it's incredible congressman, great to have you here, sir. >> thank you so much. cheryl: we'll be right back. ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪
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cheryl: richard branson reaching the edge of space, the billionaire mogul and his five crew members climbing more than 53 miles above the surface of the earth this weekend. branson's ground breaking trip opening the door for more space tourism with virgin galactic planning commercial flights starting next year. next week you've got jeff bezos making his first trip into the unknown. rob, is this a business for billionaires only or is there
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more ahead. rob: i think right now it will be billionaires, with the price of a quarter million dollars a trip unless you're the winner of a lottery they're putting together. more than likely the costs will come down. seems like there's a lot of demand for it so we'll have to wait and see. cheryl: i don't know. sean, what do you think? sean: i do think demand will rise and prices will come down. i don't want us to lose focus. this is great that we have inno vacation that bill -- innovation that billionaires can get themselves an new companies into space. my concern is what happens with america's nasa? does nasa have to partner with spacex or other companies to get us into space? what's china doing? i don't think we want to lose focus on the new frontier which is space and sometimes when trips like this happen we can lose focus that we actually want a national space program that get our astronauts by themselves into space. one last point if i could. we saw over the weekend that
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charlottesville tore down the statues of lewis and clark, great explorers. we've always had that spirit. now that we tear down the statues, i wonder if we'll lose that spirit. are the trips to space the end of american adventureism or will we keep it alive in the future. i hope we have branson, bezos and lewis and clark mentality in years to come. cheryl: changing the way we live our lives on earth which i think is your point. there's a lot going on on earth that we need to focus on right now. guys, thank you. coming up, the deepening border crisis, we have new numbers for june crossings and got-aways that you will not see anywhere else. that is coming up next. plus, a box office rebound, black widow's top tier performance lifting spirits to get folks back to the theaters, that's ahead. stay with us. ♪
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cheryl: welcome back. i'm cheryl casone, in for maria bartiromo. it is monday, it is july 12th. a look at markets this half hour. take a look at futures right now, divergent story happening here. the dow is down by 124 points and the s&p is down 7 and a quarter, look at the tech heavy nasdaq it is up almost 37 points. we've got a very different story happening this morning. earnings season is kicking off tomorrow with the big banks. there is a lot happening this week, folks, on earnings. we'll hear from dow components jp morgan, goldman sachs, what all of that means for the markets and for the broader economy. stocks ending last week higher, closing in record territory on friday. this has been one heck of a market year so far, can't deny it. as far as he global markets go, in europe we've got red arrows
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to show you, talk about taxes and the delta variant. take a look at asia, opposite story, asia all green, particularly look at japan's nikkei, that market gained 2 and a quarter percent many some of the other headlines we're watching this morning. a massive wildfire in california growing to more than 83,000 acres and destroying desr two dozen homes. the beckworth complex fire raging near the border with nevada, even crossing state lines. lightning strikes igniting the blaze fueled by extreme drought. the grandview fire forcing evacuations in central oregon, it spread more than 300 acres yesterday. 90 people now confirmed dead at the collapsed condo in surfside, florida. 31 are still missing. officials say cleanup at the site is going faster than
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expected and it could be done in a matter of weeks. more than 14 million pounds of debris has been cleared so far. meanwhile, miami-dade fire rescue holding a water salute sendoff yesterday for the israeli defense force crew that helped with recovery efforts. we are all grateful for them, for sure. well, dr. fauci saying americans don't need a booster shot to protect against the delta variant right now. this after pfizer announced plans last week to develop a third shot. fauci did leave the door open to the possibility that a booster shot may be needed in the future as trials and studies into the extra dote continue, -- dose continue. a box office debut making a huge comeback this weekend, black widow opening in theaters grossing $80 million in the u.s. and canada. the film was also released on disney plus for a fee. that brought in $60 million. black widow is the first marvel film disney released in more than two years.
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well, the worsening border crisis this morning, preliminary numbers for the month of june showing over 174,000 apprehensions and about 39,000 known got-aways. we are still waiting on official numbers from the cbp. new york congressman lee zeldin joining maria on sunday morning futures yesterday to discuss the crisis at our southern border and dhs funding. take a listen. >> it's a staggering crisis at our border right now. reality setting in. we should be funding department of homeland security and i.c.e. and customs and border patrol. we should be strengthening our borders, enforcing our rule of law. so it's important for those in government to provide all the resources to you law enforcement to do their jobs safely, effectively, because this is not just something that crosses a border but it's something that quickly spreads to cities and communities all across our country. cheryl: joining me now, former dhs acting deputy secretary, ken
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cuccinelli. and ken, first i want to get your reaction to these june border numbers and the congressman zeldin's comments on funding at dhs. >> well, he's certainly right in terms of the necessity to maintain funding. but look, it needs to go to funding for enforcement and republicans need to force that in the senate, not facilitating the flow of illegals. they're more interested, they being the administration now, in processing people in than they are actually stopping people and enforcing the law and deporting illegals back home. look, we've already seen double the got-aways. got-aways, not the apprehensions which supposedly we have some track of, of all of last year's fiscal year and we still have three months to go. and that's all based on the open borders policieses of joe biden. cheryl: you wrote a really good op-ed on foxnews.com. i want to read a really telling line of what you wrote.
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you said far more children languish in he detention centers than were ever gauged by the drum administration -- trusm trump administration. deadly drugs continue to he flow into this nation. how does it feel to you watching so much of the work that was done in the previous administration being instantly undone by this administration? >> well, caged of course in the article is in air quotes. cheryl: hope i emphasized that correctly. >> mocking the use of it. it is -- it's disconcerting because it does so much harm to america. i mean, one of the things that is completely unreported is how this devastates working opportunities for america's poor people. the poverty rate reached the he lowest level in history, recorded history under president trump at the end of 2019, just before the covid hit. it isn't just black unemployment, it isn't just
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hispanic unemployment, both important of elements but it was getting wages up for poor people and part of how that happened was cracking down on the bore of deer and stopping -- border and a stopping low cost, low skill, basically illegal wage rate earners from taking job opportunities from america's poor. this has all kinds of consequences, in addition to the drugs and the overwhelmed schools that lee zeldin was talking about. cheryl: you know, i want to bring in sean duffy into this. now you've got governor greg abbott putting in 250 million to finish the wall, he's taking matters into his own hands because texas is being overrun by this crisis. sean: it's interesting that the federal government won't step had in and protect us, we the state will do it ourselves. there will be some legal issues with that ken, via question for you. when i was a congressman i went to the border and a border patrol was showing us how they count got-aways. they count footprints in the
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sand. it's a really variable number. how do you count foot steps in the sand, that's challenging, number one. if you could verify that for me. number two, if you're not turning yourself into border patrol and you're a got-away, you probably don't want to be caught, you're probably a bad guy. can you talk about that, the seriousness of the got-aways. >> when you have an open border you essentially invited every bad character in the world that wants to come into the united states, you've told them how to do it. with respect to the tracking, because this is pretty fascinating, there's only two professions anymore where the you human beings can do tracking. ranchers and border patrol. and sean, they're really, really good at figuring out at least a guesstimate of what sort of traffic level they're seeing in the tracking. it's an incredible skill that's still alive but it isn't perfect as you point out and more importantly to your point, sean, when they don't want to get
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caught -- i mean, right now people come across the border and turn themselves in to border patrol because joe biden's border patrol is another fling the human -- link in the human smuggling chain. they get released oftentimes without a court date. you do worry, department of homeland security, you do worry about what's coming across that border. they're already releasing criminals including sex offenders, drug dealers, vicious gang members. i mean, you literally have to be a convicted murderer or convicted rapist or convicted terrorist, not merely suspected or charged, for this administration to deny you entry to the united states of america. it's unbelievable. and for all their concern about covid, everywhere else in our society, they don't give a rat's tail if you have covid coming in on the southern border. they do not care. there's no evidence of it at all. cheryl: then you've got a lot of them flooding into sanctuary cities which is another can of
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worms. i want to ask about tennessee governor bill lee, he called the surge at the border overwhelming. he was down there with the national guard. why do you think the biden administration refuses to act in kind about this? and i think like you mentioned in your op-ed, you talk about kamala harris who basically is laughing about it, still. she laughs it off when she talks about her border trip. >> yeah. so you and i and sean, we look at the border and we see a crisis and a disaster and failure. they see success and that's really hard for people to understand but this is fulfilling the wishes of their radical left base and they want open borders. when you and i see a crisis down there, they see a voter registration line and they believe they're going to get those votes. that's why two amnesty bills have passed the house already. that's why the voting bill that was just recently defeated in the senate actually provided for
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moving onto the voter rolls every adult, not citizen, every individual who gets in state databases. that's their way of registering illegal aliens and noncitizens to vote and in that same bill they removed the federal penalty for those people voting illegally in a federal election. how illegal is it if there's no penalty for doing it? they're not being subtle about this. this is a long-term plan for political control even at the expense of many of our communities and certainly our border communities. cheryl: as we're trying to deal with the surge in crime across the country which affects business, which affects our economy. ken cuccinelli, thank you so much. really great to see you. and great op of ed, foxnews -- op-ed, fox news.com. returning to the office, work from home ends for major tech titans and big banks. the great resignation, is that coming?
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it is a thing. we're going to talk about it. plus, a change of spirit, the new alcohol trend that doesn't even of involve actual involve. it's making a buzz this morning. we're going to tell you all about it. you're watching "mornings with maria" live on fox business. ♪ [relaxed summer themed music playing] ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ summer is a state of mind, you can visit anytime. savor your summer with lincoln.
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cheryl: the debate over return to work, google employees set to head back into the office today while tensions rise in the financial sector, banks like jp morgan and goldman sachs want everyone in the office. then you have citigroup taking a more relaxed approach. and the det bait is leading to -- debate is leading to what some are calling the great resignation, with millions of people set to leave their jobs. joining me now is la sell network vice president jessica schaefer. good morning. >> good morning. thanks for having me. cheryl: thank you. what do you know about the great resignation. there's so much talk about it in different circles now. basically it's that people who have been working from home, if they want to stay working from home, if they don't have that option, they're going to leave their job. or maybe they've been in a job during covid they didn't like but they figured okay, well, let me ride out the pandemic and when things get better i'll go
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out and get myself a new job. what are you hearing about this? >> you've got both sides of the coin. you're exactly right, cheryl. you have people that have been cooped up for 16 months in jobs they don't enjoy but they were too nervous, too hays taken, understandably to leave the he position. you have the other side of the coin where people got used to the flexibility, being able to do whatever, whenever, work from wherever so companies are saying hey, get your butts back in the office and employees are saying no, no, no there's other of companies who are offering me that flexibility that i used to have a that i really enjoyed. cheryl: i'm hearing that it's really going to happen in the fall, that everyone is basically enjoying their summer, rightly so. we've had a hard year. and then the fall is when you're going to see this huge change in corporate america. >> what we did was survey a couple hundred ceos, cfos, heads of hr to find out when are people coming back because we believe that's the tipping point. that's when people will really start to resign.
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we've seen the quit rate continue to rise over the last couple months. what we think we'll see come labor day -- 4th of july, companies started phasing back in, memorial day too, fall is what we heard from the ceos. about 70% said they will bring people back in the office come fall of 2021 and that will be a hybrid model and i think that's really when you'll see people start to say, all right, you know what, i don't like the flexibility, i don't like the hybrid model, i don't want to be in the office three to five days a week, so here's my two weeks notice. cheryl: rob, let me bring you into this. you have people i don't want to be home anymore with my spouse and children. [laughter] rob: yeah, i think that is true, cheryl. i think to this point, look, covid lasted for a very long time. when you having that's a year and-a-half, almost two years that we're headed towards, that's a psychological shift and change in society. so i for one really do not believe we're going back to business as usual. i think more of this hybrid approach is what companies are
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going to be adopting and a lot of the companies became more profitable. people aren't traveling so much. those budgets went down. they're not opening and taking as much office space. i actually think this is a good long-term thing for society, a good long-term thing for corporate america. but yeah, of course, more people are planning to go back in the fall, they're going to get in there, decide whether they like it or not. but the idea of just being able to work from home in your underwear for the rest of your life, i think those days are gone. more of a hybrid approach is what i would expect. [laughter] cheryl: that visual, oh, gosh. jessica, last question. [laughter] cheryl: that caught me offguard. where is the big growth do you think right now as far as hiring for jobs? >> i mean, we're seeing a lot of markets that are continuing to explode, we're seeing healthcare, higher education, technology, professional services. that's the beautiful thing, it's really all across the board. you're even seeing some of the industries that took a hit during covid start to rise and increase hiring rates. cheryl: i'm hearing that a lot
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of tech support jobs are coming back from india in particular, jessica. i think that's going to be an interesting trend to watch. jessica, great to see you. thank you so much for joining us. interesting topic. >> thanks for having me. maria: coming you up, how do you -- cheryl: coming up, how do you ensure a good wedding day? is that possible? how of about with a great pre-wedding party. we have got the rise of the bachelor and the bachelorette events in a post pandemic world to talk about. our morning buzz is coming up next. ♪ limu emu... and doug. so then i said to him, you oughta customize your car insurance with liberty mutual, so you only pay for what you need. oh um, doug can we talk about something other than work, it's the weekend. yeah, yeah.
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cheryl: it is time for the morning buzz. bottom's up but hold the booze. nonalcoholic drinks are getting really popular here in this country. according to a drinks market analysis, sales for nonalcoholic spirits grew more than 78% last year. there are now more than 70 nonalcoholic spirits brands in the u.s. sean, i did a triathlon yesterday morning and i had a nonalcoholic beer afterwards and it was great. i think people are trying to get healthier, what do you think. .sean: cheryl, no. if you're going to have a drink, have a beer. why would you take the calories, cheryl, you're getting the calories, you have to watch your weight now. if you're going to do that, enjoy the alcohol part of it. i don't get it. i may have a lemon lacroix or water or coke. i want the real deal or of i want nothing. [laughter] cheryl: maybe i stand corrected. i guess i should have had the
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actual beer. it was good. the other story i think is really good. bachelor and bachelorette parties are seeing a boom in 2021. according to wedding wire, party attendees are celebrating for long e three days instead of two on average and spending is up, 74% of men, 66% of women say they will spend more on the parties, $1,000 more, because there are no covid restrictions. here are the destinations, las vegas, los angeles, miami, new york city. rob, you're getting married in october, right? rob: yes, yeah, in october. cheryl: are you going to have a party, a bachelor party? rob: we're getting married in october in new york city. i live in los angeles. yeah, i think, look, cheryl, we've been locked up for so long. i've never had more interest in a wedding in my life than people that want to get away to this. so bachelor party i'm not sure. but i'll tell you this.
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if i wind up having a bachelor party it's definitely going to be alcoholic drinks. we're not drinking any of that high calorie sugary stuff. cheryl: i admit defeat, my nonalcoholic drinks. oh, well i tried. guys, thank you very much. rob congratulations. rob: thanks so much. cheryl: lucky girl. still ahead, we are zeroing in on the threat from china. now what that the u.s. has left afghanistan. tennessee senator marsha blackburn is going to be here with her take on all of this. this starts in the next hour on "mornings with maria," live on fox business. ♪ you belong to the city. ♪ you belong to the night. ♪ living in a river of darkness. ♪ beneath the neon lights. ♪ eel the same. experience, thrilling performance from our
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. cheryl: good morning. i'm cheryl casone in for maria bartiromo, it is monday july 12 top stories 8:00 a.m. eastern time, president trump 2024 hint when he told maria about his political future. >> a you ready to get book in that ring and run for president again sir. >> well do i know my answer but i can't reveal it yet. >> more on that plus case for taking on big tech. markets looking at mixed a story going on right now dow down 1235 s&p down by 8 look at he hecht tv nasdaq, nasdaq up by 35 1/2 points, now 36 watching that for sure, and then you've got earnings season kicking off tomorrow back we've got banks reporting first we are going to hear from dow components jpmorgan, goldman sachs, what this means for the markets, of course, for the abroad economy a lot
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going on in markets this week. stocks, ending last week higher all three major averages record territory again on friday are you tired of records? i hope you are not. and then taking a look at global markets european stocks up -- worries about delta variant dax turned higher a couple seconds ago, cac 40 in red dax turning around there is a lot of worries about dealt variant, taxes over in europe taking a look at unifier green across the board there in particular look what can japan did jumping more than 2 1/4 percent mornings "mornings with maria" arrive right now. >> president biden to meet with merrick garland, and local leaders tie, to look for ways to curb gun violence across the nation as crime rates continue to soar, major u.s. cities. meeting at the white house reportedly going to which you which i have police superintendent david brown
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d.c. mayor mire el brossier and get this new york city democratic mayoral nominee adams wanted to refund police ging to be there you thousands cuban protesters demanding an end to country you communist dictatorship cuba facing worst economic crisis in decades exacerbated by surge in coronavirus cases, lower vaccination rate also got huge food shortages cuban americans, by the way, are showing their support, they are packing the streets in havana in particular yesterday, likely back there today. >> president biden proposed global tax overhaul facing unhill battle in congress getting green light from group of 20, major economies over the weekend, this calls for minimum corporate tax rate 15% new rules for dividing power to companies business groups call on administration to wait, democrats are likely to
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push at least part of this legislation through congress once again getting used to reconciliation. >> branson beating jeff bezos o elon musk to blast off into the final frontier. >> make space more accessible to all i want to turn next generation dreamers into astronauts of today and tomorrow. cheryl: historic flight traveling more than 50 miles above the artery's, yesterday the crew zero gravity before return to earth virgin galactic to start, commercial spaceflights next year. >> taking a look at futures again we've got mixed story a lot going on in markets the dow down 137 the s&p down 8, 2345z deck is higher by 35. every index closing at another group of records on friday, do you get tired of seeing this? i don't think i do, the dow 4480 on friday okay?
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a huge sell-off thursday because of worries about potential slowdown in u.s. growth but this week everything could change, you've got a lot of big earnings coming out kicking off tomorrow we've got pepsico delta, two banks jpmorgan chase goldman sachs tomorrow bank of america coming out this week i want to bring in capital markets commander in chief strategist brian belski, rob luna duffy brian with earnings o i have said all morning record highs for stock market a huge rally first half of the year you've got huge valuations on companies also got, huge estimates on earnings, there is a lot for ceos then going to have to talk about what they are going to do for the second half of the year what are you expecting? >> well good morning, cheryl thanks so much for having us. you know, what is interesting, is that this will be really the first quarter where the majority of companies in s&p
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500 giving guidance, remember last year, especially after covid-19, really hit one in hutdown mode companies pulled guidance this will be again second quarter majority s&p 500, are giving guidance again, i think more important to that is that how months have continued to progress higher, we are in a culture on corporate side to yr promise overdeliver going on since great financial crisis analysts on wall street, the majority senior analysts less than 10 years' experience so basically nodding heads kind of listening to companies companies have been you know again under promise over delivering big part what is happening i a aside in easy math ah 50% plus he growth rate second quarter the key thing we love to throw out that number cheryl the key thing people are missing is that over the last three months, numbers are up on s&p 50012 full percentage points, year-to-date up 18 full
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percentage points, so the numbers continue to migrate higher this is about speaks to, i think the strength in consistencies where withholdall u.s. companies ua earnings overall we think they will continue to lead, lastly, this notion of peak this peak that, no investor can pick the peak or bottom in the a market, and i just think it is too dangerous to kind of say that things are going to peter out from here, from a second drive basis yes less negative but 11 1/2% earnings growth 2022 double-digit earnings growth record interest rates extraordinarily positive background for stocks. >> what do you make about what is going on with rates we've been watching 10-year, 30-year, and you know there has been concerns about the bond market and effects on the equity market we saw last thursday, by the way, a big kickoff for that sell-off,
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thursday, i can't go backwards i got doing forwards do you think a concern right now. >> i don't think a concern, i think what happens you are seeing you are starting to see, capital inflows people are missing, you are seeing foreigner investors come in buy bonds, what everybody was a convinced, that we're going to 2 plus percent on ten-year treasury if you look back since the great financial crisis we averaged 2.1% on 10-year over last 50 years, 5%, so notion of inflation, is obviously, transitory we've been on your network now six months talking about that this move to 2% was gottening to happen, because of inherent buying take two steps back cheryl understand that we've been 39 year 39-year bull market in bonds, and america paper is still very attractive especially go being back to what i talked about, earnings consistence in united states with respect to
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this global earnings look at fixed income most sustainable asset in the world in terms of yield, is to i think that is what is drawn out, it is not about the market in the economy, going to zero growth, that is what the market in some near-term rhetoric driven investors are talking about, this means foreign investors are coming in buying their bonds. cheryl: i don't know zero percent i think that is ridiculous i have seen same calls i agree with you i think silly i do want to bring in rob to this journal survey of economists talking about inflation, and talking about forecasts for earnings rob but at the same time saying that higher inflation is here to stay that we're going to see looking at fourth quarter 3.2%, are i am not sure brian agrees but what do you say. >> brian is smart guy good to see you really smart guy i happen to absolutely agree with him we believe this is transitory, 3.2%, historically i think most investment policies statements, everyone
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at around 2, 2 and 1/2% inflation anyway so fact we are going to get there in next year and a half i don't think a bike issue, it makes sense what is going on with bond prices right now, you know i don't want to see them go much lower but we are right in sweat spot i think valuations decent especially growth areas technology, talked about futures, i think that makes sense, isn't that big an issue you wanting to to go to companies esteemed balance sheets fake growing 25%. >> quick, brian i want your thoughts on nasdaq what we're seeing with futures, is this a rate story do you think? >> no. i think it is a story of relative rebound with respect to growth versus value i think tomb people became too binary, sold off growth stocks too soon the companies, quite frankly, we are spending money follow where consumer spending money on ask secular base big
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tech new staples. cheryl: amazon, apple? >> right? >> yeah amazon, machine google medicine machine spending our money. >> peter lynch would follow kids around the mall see what they are buying when we used to have malls back in the day thank you very much good to see you. >> thank you, we've got more coming up this morning, the threat from china, now that u.s. has left afghanistan, marsha blackburn weighs in what happened last week, president trump taking tough spot in 2024 top spot in straw poll we look what the that means with brad blakeman going to be here, plus, to the depths and beyond going to show wold's deepest pool, and underwater city, making a buzz this morning you don't want to miss that you are watching "mornings with maria," live on
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. . cheryl: austin miller u.s. general leading war in afghanistan stepping down in symbolic end to war former secretary of state mike pompeo flagging concerns to maria yesterday, on "sunday morning futures," about you afghanistan's relationship with china. >> tell me your thoughts on what happens now as we now understand that china is waiting in the wings to go into afghanistan. >>, in charge president trump had same kind of rinse from military to reducing our footprint in afghanistan -- the decision as leader to begin this march towards
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having, fewer troops in afghanistan all about how you skwut point about chinese taken we provided security for chinese 20 years today the fear 300 al-qaida there benefits chinese enormously interests in afghanistan commercial they are looting to commute their own troops i expect afghanistan needs to begin to stand up on its own. >> judiciary committee member and veterans affairs committee member tennessee senator smash marsh wears a lot of hats good morning senator good morning thank you. >> what did you make of mike pompeo's comments about afghanistan? >> secretary pompeo is right on the spot on this, and we are very concerned about how china is going to move forward in afghanistan and one of the things that we do know is that president trump had a plan, for how he would come out of
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afghanistan. and what you have with president biden is let's get out of there and we will figure out the rest of it later. there is a big difference in the approach to that. now also, i think it is significantly -- you have to remember what china would like, with afghanistan is that land -- enter iran puts them straight into tehran if you look at russia, china, iran, north korea that is your new axis of evil. >> there is earn about walking into afghanistan you had the fact the -- base was abandoned overnight by biden administration what happens. >> -- you know to let -- go when we need to be bringing out these translators those that worked with our military to give that you say air base -- that was that was something
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that -- we felt would be there with us, through the end of the withdrawal and for that to happen overnight, was really concerning. cheryl: i want to move to president trump suing google twitter for banning them from platforms he talking to maria about the class action lawsuit i want your reaction to what he said. >> 230 it is called that gives them immunity that gives them protection, once they have that, they no longer have that kind of a power, where you can't go at them this is a private company now not private companies they are getting the biggest subsidy you can call it that, immune from so many different things but not immune from this lawsuit. because what they've done is such a violation of the constitution, a violation like we've never seen before. cheryl: senator, section section 230 any chance every
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bipartisan support to get rid of section 230? is there any movement on this. >> cheryl there is bipartisan sport for some reforms those need to be done this is an issue that i have worked on for the last three years reforms on 1230eks so big tech companies cannot hide behind that censor information or if retail sides current future or fraudulent, or illicit products on their web site. so i am very pleased that president trump moved forward with that. i do think it is helpful, and helping move the senate towards bipartisan agreement on how we restructure section 230, who is going to be able to utilize section 230, what sized entity because we want
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to see a competitive online virtual marketplace, what you have happening with biden administration, right now, would make it even less competitive. so kudos to president trump tore to stopping up doing this. >> somebody you know well with us former congressman sean duffy here sean jump into this. >> good morning marsha quick question look at 230, if reform 230 goes that get us to end of result of free speech online or fr shahho -- marsha what do we need to do. >> sean, there is i call it the virtual you protection agenda empowering consumers very first thing you need to do is when you were in house you and i worked on online
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privacy legislation, that gives the consumer the right to withhold their information from the big tech platforms, there also needs to be data security, there needs to be a removal of the nebulous language from section 230. and be specific about what it can be used for, if this is something that is going to incite terrorism or violence or cause personal harm, then you have to put that specificity into law, because it is nebulous language what big tech has done is just continue to alter and interpret the meaning of section 230, to suit their purposes, the other thing we have to keep in mind is that mark zuckerberg and jacque dorsey the other tech oligarchs did not right the first amendment not up to them
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to ininterpret pretty it or define it not up to them to say we think it is meaning this this week or in this instance it is firm it is solid, and, they cannot change the meaning of it for their purpose. cheryl: that first amendment is a big issue, in section 230 in this class action lawsuit filed by former president, and a lot of folks out there now saying that this case could have legs, so if marsha had pen a line from morning of the show if marsha had the pen. >> exactly right, that would do. >> love it senator so great to see you. thank you as always for being here. >> marsha blackburn, coming up hypocrisy of the looet, billionaires descending on sun valley in private jets to talk about climate change. yes. we are on that, plus, the future of travel, is it
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from tech media descending on sun valley, idaho to discuss issues including climate change, used green house gas emissions to get there faa banning planes from taking to have to congestion around sun valley air base i am pretty sure they don't run on solar power >> not -- of travel the bottom
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line they don't believe climate change global warning is an issue if they did wouldn't be anything on private jets would take scooters to sun valley that is one issue what you frustrates people hypocrisy of this so great, they are telling me i should trade in my suburban, ford f-150 drying claimant they are flying on private jets americans hate this hate people with hypocrisy, to change our life but won't change anything about their own cheryl: i agree with you so ridiculous, i remember look at the festival celebrities go to park city land with private jets five suvs to pick up one star take your pick ridiculous, practice what you preach. >> i agree, if it isn't -- scooter i think commercial airplanes still go to idaho last i check could have -- gone with other people to get there, this is i think general
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society sick of this whole idea now, that you've reached top pull ladder from everyone else, have this conscious all of a sudden about everything behind closed doors we saw you what governor during covid in california with with 12 people at a winery everyone else locked. >> i had of their home a continuation. >> what is for if thhee, not for me. >> ford f-150 top-selling. >> i have one. cheryl: a lot of people do, automakers i applaud for trying to look forward gm moving towards hybrid pickups great you still need gasoline people. >> electricity as well, to pump, vehicles to make them work coal natural gas still
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carbon in our economy. >> seriously, go ceos preach about climate change great job in sun valley, all right, coming up the top spot president trump coming out on top in cpac's straw poll we explore the future with brad blakeman coming up next plus a winning wimbledon into word books amazing the highlights coming up. ♪♪ ♪ are the all right -- i'm all right, all right ♪ reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything.
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that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. 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! . i'm cheryl casone for maria bartiromo monday july 12 a look at market this half hour ahead of the opening bell quite a story on market monday take a look at the dow down 135 actually off session lows in premarket, good news there
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s&p down 5 points but look at tech-heavy nasdaq powering higher improvement in nasdaq right now up 58 1/2, you've got earnings season kicking off tomorrow big waifrngs going to hear from dow components jpmorgan, and goldman sachs, what that means for markets and economy a lot of pressure, on companies deliver, taking a look at global markets first to europe, you have a mixed story in europe the dax earlier in red, plus back to red on live television there you go the ftse contact 40 dax higher worries about that dealt variant coronavirus, also about tax talk has companies nervous asia overnight, as you can see, green across the board look what that japan did nikkei up 2 and 2 -- one quarter of a percent headlines this morning, a denver hotel
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tipping off police possibly foiling mass shooting at mlb game a stash inside a hotel room one block away from koors field police arresting four fbi does not believe connected to terror organization koors field will host all-star game tomorrow night. big story correct aing brooinz chaen applying tiktok reportedly put ipo intengz on hold according to report in journal decision came late march after ccp told company to focus on data security risk other issues, 180 billion dollars was last december during funding rounds chinese government pressuring the company they did did not do. >> it ceo does not expect travel to return until 2023, scott kirby says business demand off 60% some borders
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around the world remain closed airline announcesed plans to add almost 150 new daily flights to warmer locations in the united states members and caribbean, united down more than one percent, tennis star novak djokovic making history at wimbledon, watch. >> oh. >> -- [cheering]. cheryl: djokovic beating italian matteo berrettini, yesterday to win 20th grand slam title he is tied for the record, roger federer and raphael nadal. i am italian -- >> congratulations to novak amazing, the results are in, president trump taking top spot in the 2024 cpac straw
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poll a landslide 70% support, maria asking former president about a future run on "sunday morning futures," listen. >> you ready to get back in that ring and run for president again sir? >> o well, do i know my answer but i can't reveal it yet, and because that has o to do with campaign financing, everything else, you know that i can't reveal it yet but i absolutely know my answer we are going to do very well -- people are going to be very happy. cheryl: we're going to do well joining me 1600 group, professor public policy international affairs brad blakeman do you think he said yes, in that answer. >> you never know, but one thing you do know with donald trump he is goinging to stay active before the american people, he is doing rallies helping republican candidates, just what you would expect from a former president, staying engaging, donald trump has been engaged probably more so than any former president
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in american history, he hasn't taken a back step, since he left the white house, which is a positive thing if you are a candidate running for office, either in you know, texas, or new york i am sure going to help lee zeldin in new york run for governor there is a lot of things that donald trump can do including raising money, a point of realm to be successful. >> not only zeldin running for governor of new york but 2022 midterms if this is voice is strong hits on the issues that he talked about a lot of cpac over weekend, the border what is happening with technology, and tech companies that class action lawsuit if he sticks to all those things, he could be a major force in turning around, congress, next year. >> you hit the nail on the head there are thinks donald trump can do very, very well targeted, that is i think what the former president needs to
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concentrate on, go to the areas, where you can be of help stay away from those areas where you can't. certainly there are places donald trump can go, help people, that he should be doing i believe he will be doing, that will be a tremendous boost to rep candidates north-south east and west. >> again his voice getting louder into the public arena i want to talk about border i mentioned that a little bit you have you've got preliminary numbers for the month of june 174,000 he apprehensions this is what we can't believe 39,000 gotaways, your reaction to crisis at border, case frankly it seems the biden administration has been so slow to act, and we had gus on earlier talk about the fact california california with ken kruch until he ly kamala harris basing laughing talking about situation they haven't done anything to to some inflow of drugs and illegal immigrants. >> look biden administration,
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created this monster joe biden told those seeking to come to america illegally to do so if he ispat crisis on border i guess strategy is if we don't go there it doesn't exist certainly media complicit not reporting on it states that are not border states sending national guard to do that government has paramount interest responsibility securing our border there is something terribly terribly wrong with this mission thinks everything donald trump did securing our border was not the right thing to do. it was the essential thing to do, take an oath president vice president to preserve protect our constitution, they've let us down when citizens take back step to illegal aliens crossing our border in economy and health, during a pandemic, there is something terribly wrong, so, issue the more donald trump and others can focus on it better it is to get attention,
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and resources where it itself needed. cheryl: former congressman sean duffy with me talking about this all morning if fact border has been frankly abandoned, by president biden. >> yeah, i mean one hundred percent igo couldn't agree with brad in other my question to you brad is we take about the border we talk about crisis, and the risk of people coming across the border we have no idea who they are the fact electoral consequences biden shifting migrants to red purple states do you think as political issue a driver of votes in 2022 election or 2024 election. >> i do sean the reason being because it is such humanitarian economic health crisis, that has been created all you have to do, you know this better than anyone, the speaking to local people at borders speak to the governors the mayors, faced with this crisis, and with federal
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government who turned ear to them governors from nonborder states to did he have resources the government reduces to do i believe american people are keen on this worried about it you will be an issue in mid temperatures and beyond. cheryl: i want to move to other issue a big market story for us brad this morning, is the president -- biden proposed globe tax overhaul he got green light from 20 countries over kwooekt minicorporate tax rate 15% new rules for dividing, powered on -- the business community, already up in arms about this saying please wait please hold off, particular because going to change how global, corporations are taxed with profits coming from different countries around the world take away the lure of ireland maybe okay thing at the same time going to really put a lot of pressure, on companies,
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what do you think about this happening in the fall do you think there is a likelihood through coming reconciliation what is prediction. >> my prediction is that republican senators will stop this you procedurally, this is a nonstarter this globalization, of american policy must stop. we need to put america first, you have to do what is in our treasurer we compete against many countries all over the world, but making global packs not very good idea for america every time we made them we've got short end of the stick whether it is in trade, the economy, militarily protecting here is america's expense this globalization of american policy must end, again, this is a ripe issue for mid temperatures and beyond. >> tell me about this that other countries around the world always watch us, for what is our tax policy is going to be here we are
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kowtowing to them giving i don't know a different way of doing business from this administration, brad thank you very much good to see you coming up, speaking of global there is a global chip shortage hitting cars washing machines bicycles, we've got a live report coming up next you are watching "mornings with maria" live on fox business. ♪♪ the season -- and time sthoet ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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availability from cars to washing machines companies working to develop chips in the u.s., to help. grady trimble has that from from ann arbor, michigan good morning. >> good morning cheryl fitting that some solutions to the chip shortage might come from university of michigan, that is because, as you said, the state of michigan and auto industry have been hit hard by the chip shortage research being done here is hoping to address that for the auto industry as well as the hole host of industries, that use these computer chips, specifically what they do here, is they are doing research to try to create more
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chips in a single batch that way more available, of course takes a long time for the development and production process, but if everything goes according to plan and they can do the research and development, that they are working on here and bring it to fruition, what they will be do believe able to do create more chips at once, would help a host of industries including the auto industry, listen. >> we make chips on wavers kinds of like pizza in pizza pies we can get more chips out zmee make. >> more he per batch produce more in if a certain amount of time. >> used to be that in united states, we produced more than a third of micron chips used all over the world that number is right around 12%, so o you can see the problem there, there is a lot of investment coming from state of michigan as well as billions of dollars
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from federal government, to produce more chips, in the united states. so these are long-term solutions that they are working on here and short term unfortunately, there is not much that industries that use chips can do, as of right now for the starting today several plants in michigan chicago as well as in kentucky other places they are shut down because they don't have enough chips to put into those cars they are producing. >> nice to see companies grady say we can't be genetic on global production can't be genetic on overseas companies to make chips we've got to take it back bring it home to our country i really like that great report, thank you. cheryl: grady trimble live for us, grady is right what we're seeing with cars what we've seen with -- it is everything really everything. coal production not kidding bicycle shortage in this
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country. >> chips are really the knew essentially commodity we need to have oil if you will, because with this internet of things everything now has a sensor tied to a chip we need these we heard only producing 12% of those now so when you look at it that is why, i think, as a stock investor, obviously, if you look at semiconductor industry up 19% this year look at some more innovate companies like informative i haddia internet of things we need more chips going forward clear runway for companies, i know i am glad grade focused on that story i think interesting a good thing down the line to this is point, coming up, to the depths and beyond, we are going to show you the world's deepest pool in the underwater, that is making a buzz this morning we are going to tell you about it coming up
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next. ♪♪ ♪♪ ♪ announcer: this week on "mornings with maria" thunderstorm, subway revamped, insisting nothing to hide about tuna salad ceo will join me. wednesday the biden budget equals bad use for economic growth mulvaney is here to tell us why, thursday a hidden loophole in infrastructure bill could have china ranking committee member explains. >> and friday we've got word on wall street expert insight on wall street's biggest morning moves all right here on "mornings with maria". sp
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cheryl: time for morning buzz world's deepest dive pool open the dubai, 196-foot deep enough water to fill six olympic swimming pools, an arcade has restaurant windows tvs for nondivers to watch right now by invitation only the piles going to open to public later this year sean what do you think of this. >> is this a gimmick to get more people to come to dubai almost 200 feet deep? i don't get benefit, set world record for depths of the pool maybe cool to play video games at bottom of a pool i don't think filming in this pool
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like in ocean, but doesn't make sense to me. cheryl: a i am not a diver either, but i would think divers would be into this i think sean has good point about going to dubai, dubai continues to come up with crazy things to get people to visit. >> i agree, where else you the but dubai indoor skiing everything kinds of fits the bill for excess going on you see ferraris there, poland i think record before this why going to poland now if you can go to dubai to swim. cheryl: i wonder if a trend super rich saying maybe i can build an deep pool starting a trend? i know. >> i will say if i want to know how to dive water warmer deep pool if you want to do that great way to do it
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safely. >> no sharks. >> -- controlled environment, right no shark not going to get bit. >> no sharks, just water, thank you. more "mornings with maria" -- going to say that right live on fox business right after this. stay with us. ♪♪ forever -- ♪♪
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cheryl: here's your morning mover the stock is under pressure once again, it is down a little more than 3.5%. the company says it's going to take 25 apps in china down after the cyber security crackdown by the chinese government. they are warning the takedown is possibly going to have a negative effect on revenue. rob luna, this is bad news for folks that like chinese stocks.
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>> with u.s. companies and was 50% s&p coming from overseas, investors in the u.s. do not need to take on that kind of risk right now. cheryl: ron luna and sean duffy, great job both of you here, great show, really enjoyed it, that is it for me, welcome back to mr. stuart varney and also my condolences on england last night. stuart: i knew you were going to go there i knew you were going to go there, going to read from the script i won't deviate from the script at all. good morning cheryl and good morning, everyone. it is great to be back, yes i was on vacation for ten days and had a very relaxing time but i came face-to-face with inflation, no matter what the official numbers tell us i am here to tell you that prices are rising for everything, we will get into that a little bit. i came home sunday morning and watch

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