tv Mornings With Maria Bartiromo FOX Business October 22, 2021 6:00am-9:00am EDT
or maybe you really want to be entertained, you've got back, too. baseball field, basketball. i guess it's true what they say, everything is bigger in texas, even the fire pits. >> dallas texas, this has been "mansion global". ♪♪ maria: good friday morning, everyone. thank you so much for joining us. i'm maria bartiromo, it is friday october 22nd, top stories 6:00 a.m. on the east coast. no time to secure the country. president biden blowing off the wide-open border enabling human trafficking and elicit drugs to flow into america on a regular basis. here is the president last night when he was asked if he should go to the border during a cnn town hall. watch. >> i've been there before -- i know it well. i guess i should go down but the
the whole point of it is i haven't had a whole lot of time to get down. now my wife jill has been down. she's been on both sides of the river and seen the circumstances there. maria: we are on the fallout this morning all morning long as 2,000 are expected to be apprehended last month. more nonsensible messaging from the leader to have free world and he would consider sending the national guard to help drive trucks with the supply chain crisis. the white house cleaning up the statement later saying it is not an option right now. markets this morning are fractionally higher. take a look at futures searching for drink, dow industrial down 5 points and s&p down 3 and nasdaq 53 as we are get the disruptions in the supply chain intel missing. we are on earnings this morning. yesterday the s&p 500 hit a new
record close. nasdaq finished on strong earnings data. the nasdaq was higher by two-thirds of a percent. the dow industrials were lower dragged down by ibm. european markets this morning edging higher. take a look at europe and the euro zone where we are seeing a search for direction but solidly higher, s&p up 29, cac up 61 and dax index by 82. asian indices finishing like this. mornings with maria live right now. ♪ ♪ ♪ >> some of the top stories that we are watching this morning, fractured democrats scrambling to find new sources of renew in order to pay for president
biden's 2 trillion-dollar spending bill. this as senator kyrsten sinema draws the line on any tax increases on corporations or high-income earners. the president admitting during the town hall on cnn that he does not have the votes to pass the corporate tax hike but still thinks democrats can get a deal done. lawmakers want the bill's framework by the end of the week, next week as we have been reporting. that's highly unlikely that we will see nancy pelosi's reached. the cdc signing on booster shots for moderna and johnson and johnson. the agency recommending boosters for anybody 65 or older or those who are at high risk of covid complications. recipients can now mix and match brands of doses. well, the manhunt for brian laundrie is now over. the fbi confirming by dental records that human remains discovered at florida nature reserve belong to laundrie. much of the area had been under
water until recently making the search challenging. laundrie was person of interest in the murder of gabby patito whose was found last month. alec baldwin's new movie, it killed the cinetographer and director was recovering from injuries, no word yesterday that led to the accidental shooting. futures this morning are searching for direction, capping off a big earnings week. we have another big week next week. flat earnings from technology companies impacting this morning's performance. dow industrials down 5. s&p down 3 and a quarter. look at the nasdaq down 50
points. shares of intel down better than 8% after hours following a disappointing earnings report. again, the supply disruption is the issue and we may be moving into a period where we will hear this increasingly as reason for not making expectations, social media stocks also taking a hit. take a look at this morning. snap is down 20% and missed revenue expectations pulling facebook and twitter down as well. intel down 10 and a quarter percent. facebook and twitter down 4 and a half percent a piece. today we are looking at american express, honeywell and joining me right now phil orlando and joining the conversation all among long fox business dagen mcdowell and former trump and george w. bush former state senior white christian whiten. thank you very much for being here. bill, i'm so happy to have you join the conversation this morning at this critical point in the earnings period. are we about to see a turn in
terms of the tech names acknowledging the issues with the supply disruptions. look at the selloffs going on this morning. what is your take? >> so good morning, maria, thank you again for having me back on this morning. third quarter earnings so far had been pretty gad. we are about 30% of the earning season and we thought earnings would be up 35% and we are up 36% so far and 10% of the companies who have reported have beaten consensus estimates by 13, 14% which is the sixth consecutive strong beat rate. at this point we are in good shape. when we get into the weeds, the technology company have been producing numbers that have been pretty good. up 20% give or take. it's economically sensitive companies that have pricing power that are producing the outsize numbers. up 50, 150%. so your premise is a gad one
that -- that the technology companies have not reported earnings that are as good as the cyclical companies and the supply chain issues, the port backlogs in the west coast, that is going away on the corporate earnings reports and to some degree we will likely influence the guidance we get from company management as well. maria: yeah, i'm just wondering if now is a gad time to sort of get out of the way. maybe we are on the doorstep of a selloff given the fact that i know that banks did really well and number of large dow components did really well but we are moving into a technology-focused earning reporting season and if you have to look at intel as a guide, this may very well set the tone for a selloff in markets, what do you want to do as an investor right now? >> yeah, that's a great question. remember, maria, that going into the august, september, october time frame at federated hermes
we were bracing to what we caught was a 5% correction stocks. we got a 6% pullback in september and october. we will put that in win column. over the last two weeks the market has rebounded strongly on the back of the early success and the earning season and we have rallied as you pointed out back to record high yesterday about 6% but if we are doing get into more challenging portion of the earning season and maybe technically we run into overhead resistance, could we retrace the 6% rally that we have enjoyed in the last couple of weeks and look at bench mark ten-year treasury yields spiking up to 1.7% from like 130 over the course of last month or so. so treasury yields are going in the wrong direction. we've had a rally in stocks, we could very well see a pullback
here. maria: treasuries down 1 and a half basis points. let me ask you about chinese developer evergrande, this comes after the ccp but the payment comes days before deadline which would plunge the company into formal default, phil, should we feel like this issue is off the table or is this just more subsidy from the chinese communist party? >> i think it's likely more subsidy. there are probably more questions than answers surrounding china right now as an investment. we took emerging markets back to neutral i guess just before labor day in part because we were nervous about the drum beat of bad news that was coming out of china. they account for 40% as you know of the emerging market index, second largest economy in the world so i think our best guess would be to stay on the sidelines with china. i don't know that we have a full field for what's going on there
and i -- i'd hate to lack at the evergrande news and jump in here because i think there's still another shoe to fall potentially. maria: good move, phil. let me take your attention back to the u.s. and the federal reserve because now we've got a new policy on trading stocks, phil. ban on policymakers from owning individual stocks and bonds. i mean, yeah, the move coming on the heels of reports of multiple federal reserve officials buying and selling stocks during the time that the central bank's policies were focused on fighting the economic impact of the pandemic. so you have the fed here controlling everything with stimulus and then we learned all of these officials have been buying and selling stocks. i recognize their likely wasn't anything illegal here, however, the optics aren't good. now they've got new rules in place, your thoughts? >> the appearance of impropriety, maria. i mean, this is like to some degree closing the barn door
after the horses have already left. these are policies that probably should have been put in place, you know, 100 years ago at the very beginning of the federal reserve and the reality is that we've got to have complete trust that the members of the federal reserve board of governors or the bank presidents are not, you know, trading their own account based upon information that they know which is critically important so i think the moves are fully justified. my concern, though, is that part of the noise surrounding this investigation, you know, might be a kabooky dance if you will as a means of justifying wholesale changes in the board of governors. remember that chair powell and vice chair clarita's terms expire at the end of january. randy as head of supervision
retired last week. we may see as when issue as justification for having president biden literally revamp or remake the -- the board of governors with the federal reserve with some new people, some new economists and the market as you know hates change particularly it's up to critical inflection point with the fed likely to change policy on the upcoming november third fomc meeting, so this is not coming at a great time in term of market confidence. maria: yeah, be careful of who you wish for when you don't know who that person is because the progressives are now focused squarely on the federal reserve. they want the the change for sure. elizabeth warren has already said she wants powell replaced and the word is that there's a lot of politicization going on around here, so it's a great point having said that where are these rules and updated rules in
terms of no trading for congress because the optics are not good, geed. phil, good to see you this morning. >> thank you very much for having me. have a great weekend. maria: as always, phil orlando. thank you, sir. we are just getting started this morning, coming up, no time to secure the country, president biden says he does not have time to go to the border and he cannot see the border crisis firsthand. he claims he and his wife have already been there and they know it, they've seen it over the years. we will get into it. and then the supply chain crisis, fuel tire crisis puts christmas in jeopardy. the port of long beach director mario cordero is here to give us an update plus the former ceo of mcdonalds usa ed rensi will weigh in on the impact of business. don't miss a moment of it. you're watching mornings with maria live on fox business. ♪ ♪
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>> do you have plans to visit the southern word sneer. >> i've been there before and i haven't -- i know it well. i guess i should go down but the whole point is i haven't had a lot of time to go down. my wife jill has been down, she's been on both sides of the river and seen the circumstances there. maria: really? when was jill there? i was there 3 times. president biden at a cnn town hall claiming he's been to the border, when? it is still unclear if he actually has. is this another lie? biden blaming the damage by hurricanes as the reason that he hasn't visited as president yet despite spending 70 days in delaware. dagen, we have elicit drugs coming into the country every day, they are killing americans,
93,000 overdoses, human trafficking every day and every month, 2,000 people apprehended. 400,000 got aways i'm told by the border agents so far this year. we don't know their intentions, they may very well be causing havoc in the big cities. he hasn't been there because he has no idea it's worsened considerably under his watch so the bottom line is he hasn't been there as things have worsened. dagen: he hasn't been there as president and based on peter doocy's reporting over a period of time there is no evidence president biden has ever visited the border, not as president clearly but not as the vice president, not as a candidate, a senator or as peter would say a concerned citizen. there's no evidence he's ever been and this wide-open border is by design, it is for liberal
political purpose and at the same time they've layed the foundation for criminals to profit from human suffering and misery, whether it's drug abuse fentanyl poisonings or the trafficking of women and children into this country and by the way he mentions that his wife has been to the border, the first lady, that's great. what about your border tsar? what about kamala harris? she's in hiding quite frankly. maria: unbelievable. christian, give us your thoughts here? i'd like to know specifically when jill biden went to the border since he has in problem spewing out these things that may not be true at all? >> well, that was probably just another casual lie, at least it could have been in a friendly format. he's on cnn, left-wing network with anderson cooper battling through this. this is important to his presidency. quinnipiac came out with new
poll yesterday that had approval for biden at 38%. that's a danger zone for any president and get this on immigration, they asked question on immigration generally or border crisis specifically and only 25% of americans support what he does. 67% disapproved of his handling. to get to only 25%. think of how many registered democrats have to tell a pollster, stranger over the phone that they disapprove of the president. dagen said, this is an ideological article of faith for this group, they just want that border open, they see it as a moral good even though it's quite the opposite. it's stunning. maria: yeah, it's absolutely stunning and by the way jill biden, i don't remember here being ever and regardless she's not the president and dagen makes the right point, where is the border tsar, it's pretty stunning there's no time to secure the border and ensure that the country is safe.
he could say that and get away with it. we will see if it comes up on any news stations today. when we come back, dealing with the supply chain crisis, sending the national guard in to drive trucks, really? president biden would consider using troops but the white house later pushed back, the mix messaging next. ♪ ♪ ♪
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with amerisave's consistently low mortgage rates, your little girl can go wherever her dreams take her, like toward a career in the ethics of rhythm and movement. anyway, good luck with that, because amerisave can only help with the part of the dream you can buy -- with money. >> you'll start to see gas prices come down as we get by and going into the winter -- i mean, excuse me, into next year in 2022. i don't have a near-term answer. >> would you consider the national guard chain to help with the supply chain issue? >> absolutely, positively i will do that. >> driving trucks? >> yes, if we can't move and increase the number of truckers which we are in the process of doing. maria: wait a second.
the national guard driving trucks? the white house is already having to walk back those comments from the president. an official telling cnn that the administration is not pursuing the use of the national guard on a federal level to help with the supply chain disruptions. joining me right now is florida congressman michael waltz, member of house armed services committee and he's the only green berete in congress. thank you very much for being. what are your thoughts on the president using the national guard to drive trucks? >> maria, i'm still serving in the national guard and sadly i think the commander in chief needs a little bit of how the national guard works. the national guard works for the governors. unless he's prepared to do a federal or national mobilization
to deal with this, they don't work for him, they work for the governor. secondly, they have been completely worn out over the last couple of between all of the covid mobilizations, their overseas mobilizations, wild fires, hurricanes, you know, we have to stop treating the national guard as some kind of up and down aid for the issue of the day and thirdly stop the ridiculous policies that keep flowing out of washington incentivizing people not to work between federal stimulus checks, state stimulus checks, federal unemployment, state unemployment. if you have children they tripled the child tax credit that they now want to make permanent. that's the problem, incentivizing people not to work but then the final thing, a lot of the national guard truck drivers are truck drivers in their civilian jobs. you're going to be robbing peter to pay for paul and it's just ridiculous, maria, and clearly
somebody in the white house had to walk it back. maria: that's what's outraging me. to look at the national guard when we are already questioning readiness in our military and i've got to ask you about the readiness, look, let me just point out that in president biden's budget which is really bernie sanders' budget there's not a dime additional for the defense department. there's no additional money for the defense budget and our adversaries continue to rise. china has now we understand according to reports conducted not one but two hypersonic weapon tests this summer, congressman. these tests apparently shocked and surprised our u.s. military intelligence official. will you speak to that, the importance of this, the threat that this is and whether or not our military readiness is up to the job right now?
>> yeah, maria, i was just actually out at the space command being briefed on this. i won't get into the details but i could tell you this is a sputnik moment. this was such a leap for how they were able to conduct this test, so think of it this way, when normally when an intercontinental ballistic missile launches, it's traveling on predictable trajectory. shooting it down is hard with missile defenses. it's like hitting a bullet with a bullet in space but we can do it. the hypersonic missiles are like a bullet that can maneuver, so it can maneuver left and right, up and down, different altitudes and importantly it with maneuver around the radars so that we can't even see them and what was so alarming about this test is they were able to leave it in orbit. new they could do that for an indefinite period of time where it just sits up there until they're ready for it to drop and then it drops at such speeds,
comes crashing down that it's too fast for missile defenses. this is a first strike weapon and game-changer and we need a wake-up call in the white house but across the united states about what the chinese under xi are meaning to do in replacing the united states and threatening the united states and this thing can take out anything anywhere in the world before we can respond. maria: that is absolutely right. i've been raising my head about the threat from communist china for several years now. what do you think is going on here, congressman, real quick before you go. joe biden refuses to raise the origins of covid-19 with xi jinping, every time he speaks with him, it didn't come up and rolls over in terms of policy on u.s.-china relations giving hauwei a pass despite the fact that hauwei has been stealing intellectual property from our country, our companies in this country for decades.
what is joe biden and this administration's motivation or are they just inept? >> well, the other thing about the hypersonic missile it's a culmination, maria, of 20 years of stealing their way to the top through cyber and mergers and acquisitions and research. it's incredibly sophisticated and now the chickens are coming home to roost and in terms of what's motivating it, one is a flawed view of the world and if we are nice to adversaries we will get them to the negotiating table, they will be nice back. we saw that how fell apart in alaska where we were lectured on american soil by the chinese foreign ministry but the other piece is this flawed-old thinking that eventually they will change and as jen psaki just said in advance to first-strike weapon, well, we welcome competition. this isn't competition, they are looking to replace us and this was a huge step in that
maria: welcome back, good friday morning. thank you very much for joining us. i'm maria bartiromo and it is friday october 22nd, a look at markets this half an hour. we do have pretty earnings miss to tell you about. dow industrials up 33, the s&p 500 one and three quarters but the nasdaq is lower, that's down 32 points and that has to do with the misses within technology. yesterday not a bad day, s&p 500 hit new record close yesterday. the nasdaq also up on strong earnings data yesterday. the nasdaq was up 94 and the s&p up 13 but the dow was hit by the selloff in ibm shares, down 6 points at 4:00 o'clock on wall
street. the ftse 100 right now up 36, cac up 68 and dax index higher by 11 oh points right now and in asia overnight a mixed story, take a lack, fractional moves pretty much across the board. best performer hong kong once again hang seng index up almost half of 1%. president biden says that police officers and emergency responders should be fired if they refuse to get a covid jab. cheryl casone with the details. we will have a lot of resignations, cheryl. cheryl: oh, gosh, that's true, maria. good morning to you, and the president also by the way mocking vaccine septemberists during town hall in cnn last night. >> those who want to make it a political issue, freedom. my freedom to kill you with my covid. come on, freedom. >> should police officers, emergency responders be mandate today get vaccines and if not should they be stay at home or let go?
>> yes, and yes. [cheers and applause] >> the mandates are working. cheryl: well, the president's comments come as first responders from coast to coast are quitting or getting fired over vaccine mandates. increase in reports in the faa of pilot distractions related to new rules. the companies with over 100 employers to get workforce vaccinated. queen elizabeth has been released from the hospital after being -- she's been using a cane
recently. her husband of 73 years, prince philip died in april. in honor upcoming holiday season, lego is law firming a new building kit that replicates the home from yeah, home alone. every room is filled with reminders of the movie like the after shave creme from the bathroom scene. the paint use today knock them down and the set features over 4,000 pieces, maria, will be available starting november first. 250 bucks. there's no way i would ever complete that. that's just me. maria: i love that. [laughter] maria: lego is great. cheryl, thank you very much. cheryl: you bet. maria: the technology giant failing to provide details about its cross check program. that program reportedly shielded vip users from the company's normal content moderation rules.
the oversight board saying, quote, on some occasions facebook fail today provide relevant information to the board while in other instances the information it did provide was incomplete. facebook also failing to mention cross check to the board when it decided to ban former president donald trump from the platform this spring. joining me right now the disruptive tech research founder and chief analyst lou. lou, thank you very much for being here. >> good morning. maria: the oversight board was created in 2018 to apparently increase transparency but you can't increase transparency if the board is not told what the company is doing, executives are pretty much doing the opposite of transparency. >> yeah, it's laughable. i hate to treat mark zuckerberg like a punching bag but actually i don't because he deserves it. he created the oversight board in the aftermath of scandal and he did to increase transparency and accountability and time and time again internal documents keep outing facebook executives
for being anything but that. i mean, it was a couple of weeks ago we were here talking about the mental health issues that they've known about that caused by their platform that they were trying to keep from the public. so i think it's really laughable here any time that mark zuckerberg tries to say that they will do the right thing. he's really tried to make himself someone about free speech and then he does exactly the opposite here. the thing that struck me the most is that he tried to tell the oversight board that the cross-check program is only a handful of users really and 5.8 million users that are exempt from content moderation rules and it's insane that many people not having to be regulated. maria: all of this while the company spends money trying to support the democrats in an election really interfering in the election as mollie hemingway has written about from the federalist. so it's obviously a political organization. do the advertisers know that because apparently in the
journal this morning there's a story that it's struggling to figure out how many users it has. many users have double accounts, triple accounts and that's not -- that's counted as different people, internal research finds that new users with multiple accounts are actually undercounted, lou, that they going to do a mia christmas ulpa? >> we are not even in the wake of one scandal and another one is coming to light when where we can't trust the data that they are providing. first and foremost facebook is an advertising platform. if advertisers can't have faith and trust in the data that they've getting about the markets that they're spending money on, they are going to start bailing ship. it is the largest platform out there so it is a situation that facebook historically has been able to mitigate so i think you are going to get more scrutiny. they are going to have to be a lot more transparent and really the only people that have leverage here to force facebook to be more transparent is the
advertisers. they are their customers. in this case it's really -- i think this is 20 plus scandals and crises that have come up for facebook and time and time again investors shrug it up and hopefully for once they will put principles over profit. maria: well, we will see. we will see if investors start reacting as well. so far it's been getting the funding of investors that's for sure. lou, great to talk to you, thank you so much. lou joining us on social media. nba in hot water again in china. wait till you hear how the nba is rolling over for the ccp again. the ccp removing celtics games after one of the players speaks out of the communist dictator xi jinping, that's next. ♪ ♪
jinping calling a brutal dictator. washington examiner commentary fellow zachary wrote an op-ed on the story and lebron and kaepernick are. zachary, great to have you and i love your op-ed here and it's incredible to me that the country could look at this and think everything is wrong with what he said. everything that he said is accurate. >> right, and i think the most interesting part of it is that he's not going to face much backlash here among americans but from companies like nike who already sort of blacklisted him because -- giving him endorsement deal would shut down the stores in turkey who he also spoke out against turkish dictator erdogan. believe in something even if you're sacrificing everything.
this is what canter is doing, risking career prospects and, yeah, he's not going the face much backlash from you or me and everyday american but from companies like nike he's sort of untouchable right now. maria: well, it's pretty incredible. what will nike do? i mean, nike is making sneakers and products in china and we know what's going on there in terms of the genocide which has been called genocide by two administrations by the way, mike pompeo and the trump administration and also antony blinken in the biden administration. so what are we waiting for? are we waiting for the ccp to invade taiwan to do more damage on the world stage before we call it out as a nation? >> right. i mean, i don't really understand much of it either. i mean, kanter said back in 2018 that nike would not give him an
endorsement deal because of his speaking out against erdogan and it shut down stores in turkey. a company like china which nike has massive investment in and the nba has massive investment in this amplifies this to a whole other level for him. maria: it really does. christian whiten, weigh in here. >> yeah, it's interesting, you know, so many of our corporations are still so pro-china despite all of the evidence. goldman sachs giving itself a big pat on the back for giving ownership of unit in china, previously 51% and now owns it outright and put a glowing statement of how it's done 17 years of brilliant business in china. this is sort of interesting development usually when athletes speak up is on behalf of the left or on behalf of the ccp. is kanter, zachary, is he getting support from his teammates or from others in the league? >> i haven't seen that yet.
i'm interest today see if the nba put out a statement. i remember they put statement when houston rockets tweeted out free hong kong. murray ended up walking that back. the 76ers games might be censored on platforms like tencent. i don't know if we will see anything from nba players. i doubt that. i'm more interested to see if the nba comes out and gives support statement in support of enes kanter. maria: that's what i want to see as well. let's see how they handle this and before you go, what is your take in terms of all of these american companies getting ready to go open up shop, own their own business if you look at wall street anyway because the ccp is giving wall street firms the hundred pot to be able to operate 100%, they gave it to jp morgan and they gave it to goldman sachs and what should
they need to understand about the impact of china and shareholders? >> i think the biggest thing that once you open up in china and you open yourself to that mart and chase to that market, the market will sort of control you. the nba has repeatedly have to pander to china with basketball academies. they are trying to chase the next yao ming to increase market share and as soon as one person steps out of line whether it's murray or kanter now, the chinese market says we will step in and censor the game and take you off the air wave and they need to be aware of that. maria: they sure do. zachary, great to see you, great op-ed. >> thanks for having me. maria: quick break and let the squid games begin with your pets. pet owners inspired by netflix hit show and it's making a buzz this morning, stay with
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maria: welcome back, time for the morning buzz. squid games popularity inspiring pet owners to challenge their pets. tiktok videos showing cat owners playing red light green light with their pets turning around quickly in hopes to catch them moving. cats are pretty stealthy and quite good at the game actually. dagen, have you seen this? dagen: i haven't seen that. i think that it's a little weird because the show in and of itself, well, involves death and it's very dystopian and almost like flashback to roman times so
i -- i don't know if i'd go there. it's a little disturbing. maria: yeah, it's uncomfortable for sure, you're right, what do you think, christian? >> well, i'm glad that we are getting back to what the internet was really meant for which is pictures by cats. you heard that the internet was created by the pentagon, advance research agency and to communicate in nuclear war but we all know the real reason for the internet, for broadband and encryption that we have come up sharing pictures of cats and finally back and jokes aside, it's a pretty bold move and reflects well on the move by netflix to put this extremely violent but unconventional piece of art on the air. you can't do this on network tv and you can't even do it on cable but you can do it on netflix. maria: that's very funny, actually. quick break and then rising inflation concerns. disappointing technology earnings, that's weighing on markets and, of course, we are lacking at bitcoin as well, another surge in the price of
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maria: welcome back many good friday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is friday, october 22. your top stories right now. the white house walking back comments from president biden last night, he said he would bring in the national guard to help with supply chain issues including driving trucks. florida congressman michael waltz reacting last hour. >> the national guard works for the governors. unless he's prepared to do a federal or national mobilization, to deal with this, they don't work for him, they work for the govern nors. we have to stop treating the national guard as as some kind
of band-aid for the issue of the day. thirdly, how about stop these ridiculous policies that keep flowing out of washington. maria: we are watching the ongoing supply chain crisis coming up we will talk with the director of the long beach port coming up to give us anup date. attorney general merrick garland grilled on capitol hill over a variety of issues as he is asked to appoint a special council to investigate hunter biden's shady art dealings and business deals across the world. markets this morning are higher, take a look. we've had a pretty good move just in the last 20 minutes or so, the dow industrials up 47, the s&p 500 still flat but in the plus column, nasdaq is lower on some weaker than expect canned technologies earnings. the nasdaq down 34 points. mixed showing yesterday on wall street. we had another record high for the s&p 500 but the dow finished lower, dragged down by i a weak performance of ibm, nasdaq was
up 94, s&p up 13. intel, disappointed, that stock is plummeting this morning and it is taking a number of other techs down with it. european markets this morning are edging higher, take a look at the eurozone of. we have a firmer tone across the board, ft 100 up 43, dax higher by 121. in asia overnight a mixed story, take a look at the asian indices. it was fractional moves across the board. "mornings with maria" is live right now. now some of the top stories that we are watching this morning. fractured democrats scrambling to find new sources of revenue in order to pay for president biden's now $2 trillion spending bill, that's what they say it is. it is obviously included gimmicks in that, to make it that price. senator kyrsten sinema is drawing the line on any tax increases on corporations or high income earners, she says it's not good for the economy. the president admits he does not
have the votes to pass a corporate tax increase but he thinks democrats can get a deal done. lawmakerses want the bill's framework done by the end of next week, that is nap than's date. as -- nancy pelosi's date. it is you unlikely to get a report ton 31st. the cdc signing off on booster shots from moderna and johnson & johnson recommending boosters for those 65 or older or those with high risks of covid complicationses. recipients can also mix and match brands of doses for that booster. the manhunt for brian laundrie is over, the fbi confirming through dental records that the human remains discovered at a florida nature reserve do in fact belong to brian laundrie. investigators say that much of the area had been under water until recently making the search challenging. laundrie as you know was a person of interest in the murder of gabby petito whose body was found in a wyoming park last month. and tragedy on the et set ofal
alec baldwin's new movie. the actor fired a prop gun on the set in new mexico. it killed the cinematographer. the director was flown to the hospital and pronounced dead. the directors is recovering from injuries in the hospital. no word on the details the that led up to that shooting. time for the word on wall street, top investors watching your money. joining me is chief economist lindsey piegza, rose cliff capital ceo and managing partner mike murphy and anderson capital management chief investment officer, peter anderson. great to see you. happy friday to you. mike murphy, with the biden stimulus plan fueling the ongoing inflation surge according to new research by the san francisco federal reserve, saying too much money flowing into the economy is what
is fueling the inflation. it says biden's american rescue plan played a big role in the inflation spike. what are your thoughts? >> good morning, maria. i think it's pretty obvious and to hear it from the san francisco fed i think is helpful. but the more free money you give to people, the less likely they're going to go out and a find a job and the more likely they're going to go out and spend that money and push the prices of the underlying goods higher. so anyone who is surprised by this, i think isn't really paying attention to what's going on. we really -- if we want to help people and coming off covid obviously people needed some help, in order to help these people we need to get them jobs so they don't rely on the of government and they can rely on themselves and live the american dream. i'm not surprised by this. we need to limit the amount of more free spending and more free money that we're going to give in this new plan. the lower we can keep that, the better it's going to be for all of of us. maria: mike, let me turn your
attention to the spac that is in the news this morning. you took your company public through a spac and check out this performance of the spac that former president trump is about you to enter, this deal to create a new social media app. it's gaining real support. the deal seeing a 350% gain if the spac stock yesterday after rising more than 400% earlier in the day. it is also up this morning another 50%. your thoughts? >> absolutely unbelievable, maria. you know, so we've heard from president trump that he wanted to go out, he's been silenced by all of big tech. he can't get his word out. so he announces this deal for a spac, put a lot of -- caught a lot of people offguard with this and you see the massive move to the upside yesterday. it broke all records as far as volume goes, it broke all records as far as price gains go for spacs. it is trading at a market cap,
call it 10, 12, $15 billion. if this is going to be competing with facebooks and the twitters of the world, there's a lot more room to the upside. however, as of you've seen over time, when you have these huge moves up in any stock, a lot of times there's selling and you have moves down. to the people watching at home, maria, if this is something you want to be involved with, be involved. but this isn't something you want to go out and liquidate your retirement account and put it all in. you can make a bet on this without realizing -- you have to realize it could have a correction but long-term this could be something that competes, you know. the president wants to get -- the former president wants to get the truth out. i you know he's a big fan of yours and probably watching the program right now. i think we need this. i think the upside is huge. maria: yeah, it could be a huge upside. but i'm glad that you mentioned the near term potential of perhaps it coming back down-to-earth. you don't see a lot of 350% moves in one day on a stock.
thank you for that, mike. lindsey, let's talk fed, the federal reserve announcing new policies with regard to trading, a ban on policy makers from owning individual stocks and bonds. the move coming on reports of multiple fed officials buying and selling stocks. your thoughts. >> this new rule comes as the chairman of the central bank, jerome powell, is now the latest target of his individual financial transactions. last month, the controversy surrounded fed officials kaplan and roseengrin and did leave to the departure of both fed officials from their post at the central bank earlier than expected. it doesn't appear that any wrong doing actually occurred. all financial transactions were reported, reviewed and you approved. fed officials are beholden to very strict standards when it
comes to financial transactions. although to be fair, members of the central bank do have direct influence on monetary policy, interest rates, and then of course more direct influence on financial markets. so the argument being fed officials should be held to an even higher standard when it comes to financial transactions. but in either case, i think it's very clear that this undermines i think the fed's credibility, just the mere appearance of controversy at a time when the fed is trying to navigate the economy back to normal and the chairman himself faces a very uncertain renomination at this point. maria: yeah. especially since you've got the progressives wanting to take him down. very well said. it's really about optics and the appearance here, nothing illegal. peter, let's talk bitcoin for a second. the cryptocurrency continues to just shock the sceptics, having a big week, the first u.s. bitcoin futures exchange traded
fund debuted on the new york stock exchange. that was a real success. here it is at 63,273. you're not a buyer, are you? >> no, not at all, maria. you know, recently a poll was taken about the current holders of bitcoin. do you know that one-third of them have said they're quite knowledgeable about bitcoin and the other two-thirds have said i'd like to learn more. well, i don't know about you, but i would like to learn more before i step into a new asset class and this just seems to be trading purely on sentiment. you know, there's no economic fundamentals to drive the price and i do think it is quite a bubble. maria: yeah. it's amazing to see where it is. what a year it has had. lindsey piegza, mike murphy, peter anderson, a pleasure to see you all. thanks very much for that word on wall street.
we need more time to talk fundamentals next time. coming up the supply chain crisis reaching a fever pitch, the port of long beach executive director is here, reacting to the president's town hall last night and how no plan to ease that backlog seems to be on the table. what will loosen up this crisis? and then senator joe manchin admitting he did in fact consider leaving the democrat party. we'll explore what's going on behind the scenes, the party in-fighting in the midst of the spending plan negotiation. then october is breast cancer awareness month, we are talking with one of the top breast cancer surgery doctors in the country on the struggles of the patients in post-pandemic world. joining the conversation all morning long is dagen mcdowell and christian whiton, you're watching "mornings with maria" live on fox business. we'll be right back.
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maria: welcome back. senator joe manchin now says he has in fact considered leaving the democratic party. he said he would consider becoming an independent if he became too much of an embarrass emment todemocrats because of h- embarrass ament to democrats. this as sparks fly behind closed doors with senator manchin and sanders reportedly butting heads, telling axios that manchin raised his fist to the vermont senator saying he would be happy with zero dollars in social spending. christian, we'll see how this plays out. so far, it looks like senator manchin is sticking to his principles. your thoughts? christian: it is. it's interesting, because it comes on the heels of his colleague, senator sinema, being
followed into the bathroom by progressive aca testify visits and manchin was targeted by progressives, lived on a houseboat in washington, kind of eccentric and progressive activists on kayaks were heck wereheckling him. donald trump won west virginia in 2020 with 69% of the vote. manchin is an outlier as a democrat in west virginia. it's tantalizing to think -- this would be the first time if he switched, it was 20 years ago when jim jeffers switched parties. it was short lived as it turned out. i think at the end of the day, the fact that the democrats can't countenance one or two senators. it's interesting. maria: what gets me is that
there is not more upset and outrage about the mob. this is how they deal with things. camping out in front of your house, following senators into the lady's room, i mean, you know, why is this accepted? and then president biden says oh, well, it's part of the process. dagen: it's not acceptable in any way, shape or form. i want to point something out. joe manchin's principles are firmly liberal. he is not a conservative in any way, shape or form. senator kyrsten sinema has come out and is against any increases in corporate, individual or capital gains tax rates, in the top marginal rate. she came out against them. and that letter that joe manchin wrote to schumer over the summer where he said this is my bottom line on spending, it was about a trillion and-a-half dollars but he was in favor of raising the
top marginal tax rate and the corporate tax rate and capital gains taxes. so that's just old school democrat. the problem for him is, he's in a party where it's controlled by socialists and communists, quite frankly, but he's no republican. he's no conservative. and i would argue he is no independent either. maria: yeah. where this goes is anybody's guess. i spoke with one democrat last weekend and he told me there's a 30% chance, 30% chance is the number he put out, that nothing gets done. so we'll see. dagen: pray on that. americans should pray on that. christian: that would be great. dagen: the medicare hospital trust fund runsut of mope in less than five years -- money in less than five years. 9% benefit cut immediately. but the democrats want to create vast new entitlement welfare society but they can't even fix -- they don't have the guts to
fix what we've already got, that seniors rely on for their healthcare and to pay their bills. maria: well, you make another really important point because that's another thing that bothers me. the dishonesty about it. i mean, to call it a $2 trillion plan when we know it's actually $4 trillion that they're jaming into a $2 trillion umbrella is also dishonest because they're saying, like for example, the child credit goes away in a year. no, it doesn't. these programs are not going to go away. so they're just trying to fit this mold of, yeah, you know, we're going to make it $2 trillion by ending these programs. when everybody knows these programs are not ending. we'll take a break. when we come back, the real plan to ease pain at the pump, the be president admitting there's no near term answer at all. we'll talk with alaska senator dan sullivan on that. ♪ ♪
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>> you'll start to see gas prices come down as we get by and going into the winter -- i mean, excuse, into next year, 2022. i must tell you, i don't have a near term answer. there's two things i could do. i could go in the pee dwroim pem reserve and take out and reduce the price of gas maybe 18 cents or so a gallon. it's still going to be above 3 bucks. maria: well, there you have it. we have no plan. gasoline prices are soaring across the country, president biden says he does not have answers despite the fact that he reversed energy policy when he be first walked into office which sent prices higher. the national average for a gallon of gasoline is $3.38 a gallon this morning, regular unleaded reached $7.59 at one gas station in gorda, california, that we know,
according to reports. joining us now, alaska senator dan sullivan. senator, good the to have you today. your thoughts on this. >> good morning, maria. maria: assess the impact on of your constituents there in alaska. >> well, look, the president said there's no short-term plan but there's no long-term plan. you mentioned it from day one, day one of this administration, they've been focused on actually killing american energy and american energy jobs and they're doing that through restricting production, strong-arming financial institutions not to invest in american energy, killing pipelines. so we're seeing the ramifications of this. this entire increase in prices across the country is self-inflicted by the biden administration, their policies of killing american energy are working. and it's really working if alaska where hardly a day goes
by, maria, where they're not trying to restrict more energy production. but here's the thong. winters is coming. winter is coming. and we're going to see higher prices and this is going to hurt all american families. working families in particular. so it's a disastrous policy that is self-inflicted in terms of a wound to the american people, fully caused by the biden administration. maria: yeah, i mean, i don't understand why he would kill the u.s.'s ability to be an independent energy producer and then turn around and plead with opec to put more supply in the market to push prices lower. this is taking americans' disposable income away. they can't spend on other things because they've got to fill up their tank of gas with much higher prices. >> well, you're exactly right. it's the most regressive tax you can think of and it hurts working families. but the point you just made is
also really important one. we are -- they are empowering our adversaries. you you know, we're importing two times as much oil from russia than we did a year ago. at the end of the trump administration we were energy independent for the first time in seven decades. now we have the national security advisor, the president, the secretary of energy begging opec, opec, which includes many of our adversaries, to produce more. i had a meeting with the secretary of energy a couple of months ago and i said ma a dam m secretary, via better idea than begging opec to produce more oil, how about getting the jack boot of the federal government off the throat of american energy producers, that's what we need. what that will empower workers. that will make sure we're strong
with energy independence. this is a lose, lose, lose, policy. we have the highest -- maria: it will also create jobs. yeah, go ahead. >> we have the highest environmental standards in the world in alaska, in america, in terms the of american energy production. when you outsows -- outsource the production of energy, you are hurting the environment. the russians don't care about the environment. neither to the iranians or saudis. maria: as he's empowering our adversaries, our adversaries are rising. we know what china is doing, the ccp going into hong kong and throwing freedom fighters in jail, laying down the law, stealing intellectual property. the world is watching taiwan. biden vowed to protect taiwan if the ccp attacks taiwan. no secret the ccp wants to
reunify taiwan. do do you expect china to invade taiwan? >> i think it's important that the taiwan issue is a critical issue for the 2 sst century -- 21st century, between dictatorship and freedom. we need to be focused -- you know, over 25 years ago, maria, i was a marine deployed to the taiwan strait as part of an amphibious task force. we've had decades where we have shown resolve and commitment with regard to taiwan many. here's the thing. it's not just words they that the president's speaking. once again, it's actions. he is cutting -- he's proposed a budget to cut our defense budget, to shrink the navy. maria: that's right. >> this is what matters most in terms of deterrence, having a strong military and when you be put forward a budget that's going to cut readiness which is what he's doing, that invites aggression. maria: yeah, unfortunately it certainly does. p senator, thanks very much for
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is well underway on the largest silver exploration program in america. black rock, silver. maria: welcome back. good friday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is friday, october 22nd. a look at markets this half hour where we do have some firmer tone in the dow industrials, pretty good rally there, s&p 500 up 5 points and dow industrials s up 80 points but technology stocks are under pressure, being weighed on by some earnings news. you've got intel under some selling pressure. take a look. that's down 10%, s.n.a.p. down almost 20%, facebook and twitter under pressure, that has the nasdaq lower this morning. yesterday the s&p 500 hit a new record close, the nasdaq finished up on strong earnings data. we're moving into a period where technology companies will be reporting and that could mean the supply disruption getting into their guidance. the dow edged lower yesterday,
it was dragged down by ibm shares. growing concerns across the country on what is being taught in our schools. cheryl casone with the details now. cheryl. cheryl: that is right, maria. a new fox news poll showing 73% of parents say they are extremely or very concerned about what their children are being taught in school. the majority of voters say that school administrators pushing a political agenda is, quote, a major problem, more than half feel there's too much focus being put on race as many school districts across the nation debate adding critical race theory to school curriculum. yesterday ag garland facing questions from republicans over a bombshell memo that he sent earlier this month calls parents opposed to crt, quote, domestic terrorists. and asking for patriot act surveillance. he tried to he defend his memo saying nothing in it has any effect on the kinds of curriculum that are taught. well, general electric workers across the u.s. are walking out
of factories, they're protesting biden's federal vaccine mandate. dozens of current and former employees rallying outside plants in ohio, indiana and south carolina yesterday. ge requiring all employees get jabs or receive an exemption by december 8th. the stock is slightly down. the debut of wework on the new york stock exchange yesterday marked the return of the controversial founder and ceo, adam newman. wework was valued at roughly $47 billion. allegations of conflicts of interest and perception offer rad dick leadership -- offer t erratic leadership. it is slightly lower today, this will be the second day trading, down almost 1%. finally, there is this. a u.s. marine corps veteran shutting down a would-be robber
in yuma, arizona. the gunman is seen on surveillance video, entering the chevron gas station. that's when quick-thinking marine jason killser jumps into action, disarms the guy. he helped the suspect -- held the suspect until police arrived. you don't want to mess with a marine. maria: no, you don't. i love this guy. this is great video. i saw it and just loved it. and we've been talking about yuma and how the illegal migrants, the got-aways are finding a home in yuma so good for him, once a marine, always a marine an thank you so much, sir. thank you for that. thank you, cheryl. the 10 year treasury yield continues to climb, questions continue to rise on the pace of inflation, the 1 # of year 10 yy is down 1.6 basis points. want to talk about the macro story in the face of inflation
as well as the supply disruptions with the co-founder and chief economist of cornerstone macro, she is partner nancy lazar with me right now. nancy, great to see you. thanks very much for being here. i was just reading your most recent report about the supply disruptionses and i want to get your take right away on that before we get into rates because the shortage of chips has been a real issue for the auto sector. you expect it to start turning around. >> we do. you're seeing a ton of ships obviously in the ports, record number of ships in they the ports, it's been widely, widely reported. but you're slowly starting to move the stuff into the country. you're seeing rail fright activity starting to move, rail stocks starting to rally significantly as you're moveing that in. unfortunately it may not happen quick enough as we go into christmas buying season, but nonetheless, yes, as we move into 2022 we think there's actually going to be too much
stuff in this country. a lot of companies have probably over-ordered. the bad news right you now is going into the holiday selling season pricing indeed could be elevated. there could be shortages. we think there could be good deflation as we move back into all the stores. maria: nancy, we're looking at a shot of the long beach port. we're going to have mario cordero on in a little bit. he's going to tell us more about this. he's the director of the long beach, california port. but there's a new report indicating shipping rates from china to united states west coast are down 22% in the last four weeks. let me get your take on some of the changes that you're expecting because taiwan is ramping up production of wafers december continued for auto chips. you write that's great news for car makers. >> it is. so the key in the market and in
the economy is to always look ahead not just where we are today. today is short. there are shortages and bottlenecks, et cetera. the good news is going into 2022, the chips are coming. you see it in taiwan's data. you see freight rates are starting to come down which is a sign that indeed the congestion in china is starting to fade. unfortunately, you still have this surge of ships in the ports. but looking ahead, the chips are here. you're going to see a ramp-up in auto production hopefully here in the fourth quarter, also into the first quarter of 2022. and then you're going to have potentially a boatload of stuff in stores, at auto dealers, and so right now no question, prices are high. they're too high. they're squeezing low end consumers in particular. not just gas prices, but prices of other goods including cars. but again, looking ahead, we think this is indeed still transitory and that prices will come down significantly as we go
into 2022. so it's a very, very volatile economic backdrop to be sure. maria: so nancy, what can you tell us about the macro story. we're smack dab in the middle of the third quarter reporting season. growth has come way down for the upcoming quarter. the atlanta federal reserve was at 6%. now they're at a half of a percent growth. what's your take on broad macro growth in the country year-end and into 2022? >> no question, the third quarter really got hit by the delta variant and you pulled down economic activity and function and production and so i was wrong on the strength in the third quarter, as you just said, we think it might be closer to 2%. here in the fourth quarter you saw it yesterday with the unemployment claims data continuing to grind lower, with the delta variant now clearly down, you are seeing the economy reopen, helping port activity, to consumer spending, i would stick with a 6% number here for
the fourth quarter. as you go into 2022, we still think we'll be above trend growth, something closer to 4%. we have the healthiest banking system we've had in a long time. you've certainly seen that in third quarter earnings, definitely better than what we had coming back out of the last recession in 2009- '10. you have healthy credit markets thanks to the fed and thanks to very, very healthy companies. they have indeed deleverred to some extent. so although interest rates are up, you have a very healthy consumer. so the combination of those three things we think does give the economy the act to bounce back here in the fourth quarter, 6% as the delta variant fades, as production picks back up and as consumers, what i would be optimistic on the service sector of the economy, you'll find a lot of airplane tickets under christmas trees this season. people have too much stuff and they're looking to get out and travel and travel again. so i think the service sector, the travel sector is going to be
particularly robust as you go into later into the fourth quarter and 2022. maria: yeah. people need a break after this pandemic. but than circumstance real quick before you -- nancy, real quick, before you go, your thought on the price of oil. is that going to cut into some of this disposable spending. >> that's really sad. right now you have a great backdrop for the u.s. consumer, even the low end consumer. but our consumer confidence survey is broke unout on the downside, below covid recession lows and we directly you attributed that to the energy crisis, particularly squeezing that low end consumer. and so, yes, it could crimp the holiday selling season. but this is really, really a bigger headwind to the foreign economy more than it is to the u.s. economy. we are starting to see the oil rig count increase here in the united states, not as much as we had back in 2010,-11, to be sure.
it is grinding higher. you're seeing central banks tighten. russia this morning raised rates. i think in 2022 you're going to have a surge in the oil price come back and hit a lot of these foreign weaker economies who get hit much harder than we do from oil prices. maria: always a pleasure to see you. thanks so much. >> thank you. maria: fancy lazar joining -- nancy la a czar joining us there. october is breast cancer awareness month. we are speaking with one of the leading surgeons in the country, dr. alicia port will join us on what women need to know during this month and beyond. then, we are bringing back the instagram stars, next week we highlight influencers who made a living on the app, see a new star every day next week, our insta stars week
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when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock? maria: welcome back. well, october is breast cancer awareness month. breast cancer is the second leading cause of death among women many one of our own fox business family members jackie deangeles shared her very emotional story with us yesterday. she was diagnosed with breast cancer a few months ago. my next guest is here to tell us about the progress being made in breast cancer research and what we need to know. joining us is mount sinai chief
of breast surgery, dr. alicia port. great to see you this morning. can't tell you how grateful we are that you're spending the time talking with us. will you assess where we are? i know there's been a lot of progress. where would you say we are with regard to the fight against breast cancer. >> first of all, thank you so much for having me, maria. it's always a pleasure and thank you for getting important information out there, as always. we have made a lot of progress in terms of the fight against breast cancer. many people don't know this but for example between 2000 and 2010 in that decade alone the death rate from breast cancer dropped about 2% year, so if you had been diagnosed with breast cancer after 2010, basically you're 20 to 30% more likely to survive than pre-2000. that's huge progress. of course, even one death from
breast cancer is too many. so we do have a long way to go. and there's certain types of breast cancer that still remain elusive in terms of optimal treatment. maria: i mean, i know that there are advancements in treatment, not just chemotherapy, radiation, but also oral medicines, a pill. we had our own jackie deangeles on this program yesterday, her doctors were using her breast tissue for her reconstruction. tell me about the treatments and what has changed over the years and also a bit about the reconstruction when it comes to this cancer. >> sure. well, exactly as you point out, you know, one of the reasons why breast cancer treatment has become really much more acceptable to women in terms of reconstruction is the options are so much greater than they were even five or 10 years ago. we are doing a lot more nipple
saving mastectomies, saving the skin of the nipple while removing all the breast tissue behind can be a huge improvement esthetically. absolutely there are more options related to the kind of implants we use and also as you mentioned, using one's own tissue typically from the belly to reconstruct the breast. that gives an incredibly natural look and feel and unlike implants don't really need to be replaced. and so that's been -- we've made progress and strides in that. it used to be we would take not only the soft tissue of the belly, we would take the muscle and that could leave women with a lot of strength deficits and so forth. now it's really just soft tissue and skin and so that's been a huge area of improvement. in terms of the pills, we have a lot of options. the pills are typically used to address the fact that most breast cancers are hormonally
set or stimulated. the pills are an anti-hormonal treatment and we have multiple different options in that front. the reason why the multiplicity of options is so important is that not -- there's no one size fits all and not all women do well or tolerate one type of medication. so it's always so great to be able to have a backup plan and to have multiple things to offer different women. again, no one size fits all. maria: yeah. so let's talk about testing and mammograms. there was some changes in terms of when a woman should first get a mammogram and how often we should be getting mammograms. tell us about the importance of testing, what you're seeing and in terms of what age would you suggest we start getting tested? >> sure. i agree with you, i think there has been a lot of mixed
messaging about optimal age to start mammograms, how often to get them, what does it depend on your age group and in general those of us who are in the trenches kind of doing this every day know that in general for women of average risk of breast cancer, you don't have any other main risk factors, starting at age 40 and yearly thereafter is really the best way to go. mammograms do save lives, maria. they save lives by picking up cancers earlier. and they also, some of the research that we've done here at mount sinai and the dubin breast center shows that not only do mammograms save lives but we're also even able to save those lives by doing less extreme treatments. so for example, one of the lesser known facts is that if your cancer was picked up on a mammogram and therefore most likely smaller, you're way less
likely to be told you need a mastectomy, removing the whole breast, and may be able to have a smaller surgery, less invasive, less disfiguring like a lumpectomy. women, mammograms, the cancers are typically picked up earlier, way less likely to need chemotherapy and so while the treatment options are great, chemotherapy and so forth, if we can cure the cancer with less invasive aggressive treatment, so much better. maria: of course. yeah. dr. port, it's great to see you and thanks for all that you do, saving lives every day. >> thank you for having me. maria: dr. alicia port. thank you very much. we'll be right back.
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maria: welcome back. time for the morning buzz. i had the honor of mcing the 7 *6th al smith s memorial dinnerlast night. it was terrific. former secretary of state condoleezza rice was honored as the keynote speaker. she poked fun at politics and some democrats including california gavin newsom. listen to this. >> looking out over this crowd, it's hard not to be struck by the mosaic that is new york. or to notice that i haven't seen this many wine glasses since governor newsom dined at the foreign laundry. [laughter] maria: christian, you've seen this dinner and been there over the years. what do you think? it's really all in good fun and at the end of the day it's a reason to raise money for our communities and children. christian: yeah, it's nice. secretary rice and i was at state when she's was boss is not
particularly a political person. this is good g or pg political you humor. she's been saying things against critical race theory, saying white kids shouldn't be made to feel bad. it's nice to see where we can set aside harsher parts of our politics to come together. maria: it was great to hear her speak, one of the highlights was also president george w. bush introducing per before i introduced her and he was quite funny as well. we'll be right back with a lot more. stay with us, coming back, "mornings with maria" is live.
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human trafficking illicit drugs to flow into america eric what the president said during a cnn townhall. >> i have been there before i haven't i mean i know it well, i guess i should go down but the -- the we'll point of it is i haven't had a whole hell of a lot of time to get down. mow nie wooif jill has been down both sides of the river seen circumstances there. >> we're on it all morning this morning, more nonsense i believe messaging president biden sake he would consider sending in the national guard to perhaps drive trucks help with supply chain crisis white house saying no, that is not an ochgs for national guard markets picking up steam against he strength in dow industrials technology, is underwater dow industrials right now up 81 points, the s&p 500 up 5 1/2, the nasdaq down 27, as technology stocks pull back, the nasdaq weigh on
markets in some areas take a look, snap down 20% intel down 10% facebook, twitter weaker by 3%, this after a pretty good do a yesterday s&p 500 hitting another record close yesterday. take a look, the nasdaq up 94, s&p 500 up 13, the strong earnings data lifting averages although dow industrials dragged down by shares of ibm had earnings miss, and traded lower european markets this morning are edging higher a firmer ton eurozone ft 100 up 42 cac quarante up 67, dax index higher by 135. in asia overnight mixed story fraction a.m. movers pretty much across the board, in the asian indices "mornings with maria" is live right now. well the supply chain crisis making harder to get toys gifts under the christmas tree one company looking to -- have
american ingenuity lydia hu good morning to you. >> good morning, maria you can see, we are at american plastic toys incorporated the toys making final pass down conveyor belt final production here at the factory we are joined by ceo john-unprecedented holiday season what are you doing to take products that you are making where they are distributed. >> make 150 different types of products here in the united states, and the distributed to virtually every mass mere he ancient in north america so right now we are just about ready to close up our fall production, you know, of -- enkitchenssets basketball moving into spring summer products next year. >> i think your o toys stuff
that childhood dreams are made off this season has seen importance of american-made products on american soil what do you take out of that has it healthed the 30r importance of examine products i think it has wish we could have done more suffering from supply chain issues as other companies have, i think able to produce here not have to contend with some supply chain, snarls other companies have wish we could have done more doing best we can to get as many under the tree for christmas. >> i say safe to say there will be you thousands of happen children because of your company american plastics incorporated thank you very much for insight i think safe to say john may be santa's a-number one this year. >> back to you. maria: lydia thanks very much lydia hu in michigan, president biden addressing
ongoing supply chain crunch in cnn up to all have seemingly forgetting name of the u.s.'s second largest port. >> 40% all products coming into united states of america on the west coast, go through -- los angeles, and -- and um -- uh -- um -- what am i doing. >> long beach. >> long beach. thank you. maria: yeah, the port of long beach recently transition to do 4-7 scheduled to ease on going logjam handled 78 million tons of cargo a year joining me right now the executive director, of the port of long beach mario cordero we are so happy that you are back with us this morning. thank you so much for being here. can you access where we are you have been work 24-7 what can you tell us. >> thank you for having me. clearly -- we have a national
crisis in supply chain what i can tell you, is the collaborative spirit of key players in supply chain reached a very high level i am very comfortable by the fact, that talking to major companies who are interested in moving their cargo -- more particularly sthaipz have not -- going back, opportunities i pleased collaborative spirit we have been engaged in with various parties mario give me he take us back, tell us really how this all started, because, for those of our viewers may not have been following this from day one, why do you have such a backup? of. >> number one i think the really the problem with
covid-19 pandemic. that -- you know, presented to the world early 2020, again, the not immune from what occurs. the shutdowns lack of labor, and was involved in very, very tragedy health pandemic that we've had, frankly the supply chain has been fragile all along, and, as you know, many of us here have been advocating for investment in infrastructure, not just in roads and bridges but maritime infrastructure so part of this really i highlights the important need of the essentially operation, so, in it is a global crisis many factors one of the things seek in china now they are gearing back manufacturing because of electrical demand from grid can't handle the power that is required so there is is a factors involved here the good news is people are recognizing how essentially the supply chain is important,
that going forward in production in this industry. >> such a great point that you are making we hear don't hear a lot when that hear lawmakers in washington negotiating, a reconciliation package also talking about infrastructure package, and yet where is the investment? in our maritime businesses, and -- and the crucial situation we find ourselves in today. then the truck driver shortage during town hall last night you president biden said he would consider spend national guard to help with supply chain may be have national guard driver trucks the white house already walked that back. saying no, no, no we're not considering the national guard taking on truck driving but what of your thoughts in terms of what is needed right now, aside from investment which is you you long temperature theme
you are suggesting. >> again supply chain industry not a immune from challenges at nationals scale talking about, the availability, when services having supply chain, so i think, going forward, with a needs teef had a full-court press in terms of how we are are we attract in labor force one good news i think starting to see more and more people, entering job market, but in terms of the trucking component, that has been a real problematic issue for some years, in terms of getting enough people to -- track to this work supply chain, again, in talking to, bigger in this industry those are being had to make trucking industry more attract to people. >> before you go, quick the last time we spoke, you suggested, that maybe we weren't seeing end until second quarter 2022 i spoke
with majoru producer technology products last night said no, no, no i am not expecting ended until end of the year 2022 give your expectation when would you see things begin to loosen up should we get help you would like? how long is this going to the go on. >> by mid 2022 i think with diminishment, this is long-term to another year in terms of the sense that we are accustomed to there is light at the end of the tunnel in terms of what you are seeing right now i am more optimistic but, again, it is unpredictable. >> sure it is mario great to talk with you this morning we so appreciate your time. >> thank you so much maria. maria: and to you, mario cordero executive director of the port of long beach, quick
break then pushing back on school boards why more parents want input on what is being told to their children attorney general merrick garland was asked about on capitol hill we tell you what was said former congressman greg steube here to weigh in we know what happened in wuhan national institutes of health admitting to funding game of research there my special guest ep coming up dagen mcdowell christian we get back to fantastic panel when we come right back. you are watching "mornings with maria" live on fox business. .
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for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. >> welcome back. a new fox news poll shows 73% parents say they are extremely or very concerned about what their children are being
taught in school. defending rights of concerned parents across the country tearing into toning merrick garland over directives to investigate school board parents means parents and called them domestic parents. >> i think your memo mr. attorney general is last straw i think the catalyst for a great wakeening just getting started. >> to be clear christian ag yesterday said he is not calling parents domestic terrorists. yet that memo sicking fbi on anybody who raises her hands has many parents concerned across the country. >> going the bidding of teachers unions left wing all of them don't like idea parents showing up at pta associations school board meetings say they don't want
critical race theory other left wing anti-american instruction, in public schools a lot of school boards so obscure even voers don't get that far down ballot even hard to find out what is going on champions for traditional education but awakening, showing up in a big way in the virginia governor's race just 11 days away november 2, where youngkin the republican has really hit pay dirt the call democrats said participant should not be involved should not tell schools what to teach children something republican voters in all voters profoundly disagree with dagen what do you think. dagen: i think merrick garland has a lot more explaining to do we found out, that they memo that he issued targeting parents with fbi and department of justice was in direct response to that
letter from interest national school board association a foia request we found out you the school board association was working with white house on crafting that letter before it was sent to president joe biden there is no body of evidence merrick garland admitted or conceded to of violence increasing at school board meetings or among parents, if that doesn't exist so there is no evidence to suggest an escalation in violence, among a parent. also, the -- there is a huge conflict of interest that merrick garland needs to answer to his son-in-law runs a consulting company panorama peddles woke material to school board to systems across the country very type of material, that parents are angry about, he was asked about it yesterday, and he had paltry little to say he
refused to say whether he would submit to ethics review to determine whether a conflict of interest. so parents are angry about this, and trying to dismantle this ecosystem of teachers unions, of left wing liberal school boards and of woke consultants that issue using taxpayer dollars to peddle information to kids that teaches them they are riernt something is wrong with them the parents are trying to i take this system apart that is will have the children uneducated, dumber, than virtually any other country in the world they better look out because what mama and daddy get mad -- -- nothing stops them. maria: i think you are right no comment whatsoever the washington examiner said merrick garland should resign or at minimum recuse himself
from this issue kitchen conflict of interest around his son-in-law soar an important point that you bring up we are going to take a break then talk more about merrick garland's hearings with congressman greg steube here and with us. . where does the stress go when you're driving a lincoln? does it get tangled up in knots? you might have your own theory. but maybe it's better to just let it go. you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
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maria: welcome back u.s. attorney general merrick garland on hot seat yesterday, testifying on capitol hill facing tough questions, over the politicization of the department of jis, and its of the law florida congressman member of house judiciary committee greg steube thanks for being here your main take away from the hearing with ag. >> doj completely politicized two pictures capitol january 6 incident a couple weeks ago department of interior both
pictures protesters forced themselves into a federal government building asking -- those domestic terrorists he refused to answer the question identical boifr by two different ideological groups treats them defl roughed to answer when going to treat them same as those that protested in capitol here on january 6. >> really disheartening to see, every agency or virtually every agency in this government so politicized. first fbi, cia ob politicized irs now talking about the didn't of justice we need to be able to trust doj what with conflict of interest that selling surveys of critical race theory pushing crt in schools. what is the fallout. >> absolutely he should be, and there should be an ethics
investigation, into this company his son-in-law is part of, because of ag garland's position a benefit conferred there members of our committee pressed him on that question, again, the attorney general refused to answer the question as to whether he would be open to ethics probe if nothing to hide allow ethics investigations into behavior to ensure there is nothing ethically going on son-in-law is getting a benefit because of the fact that his father-in-law is attorney general of the united states democrats aren't going to allow for that to happen but, you know, if that was trump or somebody in trump's administration the mainstream media all leftists on capitol hill would be going crazy demanding he recuse himself for clear conflict of interest. maria: my god if so many stories, that we talk about every day if it were trump would be beyond, i mean hunter biden among them, what happened with hunter biden conversation yesterday?
we know that hunter biden was sharing an account of bank account with his father then-vice president joe biden, while hunter was rolling in dough from oligarchs in china ukraine was he pretty much selling his father's position? and they were both benefiting, monetarily with it? >> well everybody in america knows that the department of justice refusing to investigate or say they even are investigating it, again when pressed by republicans on that question he just goes back to that that little query that hey, you know this is an ongoing investigation, we can't comment, we don't comment on investigations refusing to answer the question i don't know how many times he said that yesterday, throughout the hours long testimony that he had, hiding behind those type of policies, the department of justice has refusing to tell american people the truth most america knows there is something not right going on probably criminal behavior had hunter
biden's laptop over a year now i think nothing happened. america knows what is happening it is pushed under the rug not being investigated again if a conservative that was doing this type of behavior, completely different outcome they would be indicted right now, they would be facing trial. maria: that is what i am saying you've got serious crime unnoticed, ignored, while if ag is sicking the fbi on parents making peanut butter and jelly with with sandwiches where are we with hillary clinton lie of russia collusion take being about a big lie that is biggest lie of all hillary clinton foreign policy adviser made up a story donald trump colluded with russia see it over and over again, michael sussmann has been indicted do you think merrick garland is going to stop more indictments. >> i hope he doesn't i hope he
laws him to continue investigation this is going on for years, garland is more interested in investigating parents at skbz don't agree with children taught critical race theory, hundreds of thousand dollars flood across the border breaking our federal law nothing happens to any of these people. in fact they are aiding abeting the breaking of federal law by administration taking these illegal grants shipping them all over the country refusing to tell members on committee it is politicization of highest level of law enforcement in our country. >> joe biden says that the border is closed, and that -- he has been there, has been there knows all about it congressman thanks very much for being here this morning we will keep following it certainly putting a spotlight on it congressman greg steube thank you, sir. coming up problems with port i will speak with fat brands
♪ ♪ ♪ ♪ . maria: welcome back. good friday morning. thanks so much for joining with us tgif i am maria bartiromo it is friday, october 22 a look at market this 24 half an hour ahead of opening bell a rally to the dow industrials, but a selling going on with technology, the dow up 6 the s&p 500 up 3 1/4 the nasdaq is lower by 30 points technology stocks under pressure this morning after intel had a miss on quarterly numbers they are talking about the supplyings disruptions i think this is a major theme going forward, in the rest of the third quarter,
particularly with tech stocks down 20%, are quarterly earnings there intel down 10% facebook, twitter selling pressure 4 and 3% there meanwhile, a haitian gang threatening to kill 17 kidnapped missionaries most americans cheryl casone with details right now. cheryl: that is right maria, the leader of that gang says in video he will quote put a bullet in heads of americans if demands are not a met asking for one million dollars per each person, 17 million dollars total for the release the fivemen seven women five children ab doesn'ted out gun.outside port-au-prince members of christian look at that 81% jump right now, spac
announced recombining former president trump's trump immediate and technology group launch a new social media platform, true social stand up to tyranny of big tech users can get on next month nationwide rollout expected early next year. >> well queen elizabeth released from hospital after being admitted for preliminary investigations had been ordered to rest has been seen using a kane longest living moneyak cut back on engagement, due to pandemic, prince philip died past april. >> fossilized remain of largest dinosaur found just at auction 7.74 million dollars, 56 million years ago big john,
he has been named now, roomed south dakota bones unearththed 2014, more than 8-feet long 6 1/2 feet wide an american collector has yet to be identified, very i hope a very large house to store him in. >> that is amazing, thank you so much. cheryl: you bet. maria: supply chain crisis unfull supply groceries shelves remain empty restaurants feeling impact many forced to increase prices during already high period of inflation. prices for food away from home up nearly 5% you can see that last month compared to a year ago, fat brands owns more than a dozen franchises worldwide joining me right now is the chairman, of fat brands integral former ceo of mcdonalds usa definitive's barbecue ceo, ed ramsey you
have been around the block in terms of cycles back-and-forth how does the supply chain crisis relate to what you've seen in the past? and talk to us about the -- inflation story how you assess issues. >> i spenders had the in 70s 80s stag inflation prices of fuel were going up lining crazy transportation was limited. distribution limited. we had to raise prices to address opening and closing schedules restaurants modify menus going through it again, it has been exacerbated clearly by covid but also been impacted dramatically by the policy changes that president biden made even before he was inaugurated when he said going to shut down pipelines move away from fossil fuel today, over the road truck driver has
about 300 gallon capacity on truck fill up today almost 600 dollars more, to fill the truck up, that means it is going to show up in price of goods ships includes food because a lot of our food, is produced in areas where restaurants aren't, like lettuce, in california, and produce they ship to east coast, some product some management support work with hide hydrophonic grower we are talking about moving products closer we can't afford transportation costs a huge shorm of drivers young people don't like the lifestyle these guys on road 4,000 miles a week they don't have a home we need to change that infrastructure, the school system we ought to be putting as up of in truck driving as loans would be a lot better
off long term. >> a great point a dangerous jobs guys and gals driving all tonight i remember talking about this when doing my artificial intelligence special, because they were trying to enter the a.i. in trucks but ed look right now you you've got the president, and the democrats negotiating, potentially four trillion-dollar i don't know two trillion four trillion five trillion they have got all gimmicks in there. it is hard to know how much i want really is. they are negotiating more spending in other inflation this president said he doesn't have a plan range in price of gas are they inept in terms of understanding economic issues? what is the story. >> a big difference between leadership and management we are being managed right now the pandemic is a classic example how we are being managed not led their
solutions to all problems for the motor company building a humaning facility can get it from tennessee valley authority can't get it out of michigan moving because of that across the united states modifying restaurants because we don't have enough staff to manage these restaurants, we don't have enough staff to operate restaurants changing portion sizes chicken has gone from 40 dollars a case to 170 dollars a case can't get chicken in market because trucks are not moving our president and his party are tone-deaf to what real issues are down on main street, they just don't understand it, or they don't care i don't know when but it has to change or we are going to have major problems. maria: i mean the other day they said a high class problem how is a double-digit increase in chicken and eggs a high class problem? i got to ask you -- go ahead.
>> i was going to say furniture tat brands a very technology management team working with -- our sales up all good. >> you said in senior party chairman in china, a senior person in the communist party told you 11 years ago that ccp does not need to bomb the united states, there is no need for soldiers, that ccp believes they will defeat united states with technology, and economics, this is a point made on this program a number of times i want your take what are your suggestions in terms of ccp? >> well, it is very clear, that our policies in the united states are giving world dominance to china, because of economics. right now their manufacturing is growing so much, that they
are building a new coal fire electric plant monthly opening them up they don't have enough electricity to support infrastructure, we are chasing through our tax policies, our regulations, manufacturing out of united states. and it is ail going to china we can't sustain this democracy without jobs he was very clear, he says, you americans, the president, i am not getting intoth it was at the time the president kwufs "fair" with good business judgment we don't need to nuke united states to dominate you. we will let you dekooi from inside we will win economically, think about this for a minute surrender gave back panama panel back to panama we should have done but we should have spent on infrastructure china came in widened canal to bring biggest ships cargo ships to panama canal east coast of united states but we don't have deep
seaports to handle them, it costs 300 to 500,000 dollars for a ship to go through the panama canal, it is crazy what is going on we just surrendering. maria: this is a -- this is a national security issue, ed we gave up the bagram air base okay. that is a whole other issue we are talk about that with next guess we show appreciate you joining, ed rensi from fatty brand international we know what happened in wuhan how come joe biden is not asking xi jinping about it national institutes of health admitting to funding gain of function research did fauci lie under oath former director national intelligence ric grenell here to take that on you are watching "mornings with maria" live on fox business. .
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nih niad categorical has not funded gain of function research again we have not funded gain of function research i don't know how many times i can say it madam chair we did not fund gain of function research. actually they did national institutes of health admitting they did fund gain of function research, research on bats
neventhd with coronavirus something i have reported since beginning nih had millions of dollars to nonprofit echo healthy alliance funneled money to wuhan lab for wuhan coronavirus research dr. fauci has repeatedly denied u.s. tax dollars have been used to fund this in fact, it was the origin of the coronavirus joining me former director national intelligence richard grenell. >> the nih provided a document to house of representatives says they did in fact fund gain of function, did i anthony fauci lie under oath. >> here we are go again, of course, he lied under oath not only did he lie under oath i think he lied under oath threw or four names we need to
consequences we had republicans voted of bannon not coming to congress saying how dare you ignore congress now we have an individual dr. fauci, lying to congress, multiple times i would like nine republicans, take a leadership roll, and, actually, call for dr. fauci to be prosecuted perjured hms we thank rand paul saying this thank i go for saying this liz cheney adam kissinger pete meyer from michigan upton from michigan this on gonzalez from ohio need to play fair on both sides of the argument lastly i say this looking on my phone,
at a "new york times" headline and this "new york times" headline from july says if anybody is lying here senator it is you. fauci said to rand paul, the "new york times" should be aashamed for purchasing there no correction no pushback what is going on in washington? these people are living in a bubble, and the rest of us are watching them destroy our country by lying, and pretending like we are lying. maria: look at how they are smacking the faces of american people new york times, wash post with nonsense over and over again after we know the russia hoax that they had on the front page over and over again, during 2016, 71, 18, 19, no mea culpa they got pull pulitzer prices, how
about social media censoring this where is this going will there be accountability for any of this the american people at the end of the day the loser. >> everyone out of washington d.c. are losers i am tired of republicans, democrats everybody else, pretending like washington is going to reform itself it is not going to reform itself it likes the rules we call it the swamp but it sounds like a fun name the swamp is a place freshwater doesn't come in fresh ideas don't come in they like it if you live in washington d.c. you don't want that freshwater coming in guess who was freshwater? donald trump. didn't play by their rules the swamp had to kill him because
he absolutely didn't like what he was bringing in. maria: i always say i think trump came too close to the fire that fire being corruption, he came in he saw the corruption that was going on, he started talking about it, not caring what he was saying and they thought we got to get this guy out of here he came too close to the corruption, meanwhile, we are asleep at wheel in term of readiness as china is rising, how about this state department under fire for tweet on wednesday the department celebrated international pronoun day let me say again ric the state department celebrating international pronoun day explaining why people put their pronouns on email and social media, all of this as china is talking about the launch of two hypersonic missiles we've got americans stranded in afghanistan we've got illicit drugs human trafficking coming in over a
wide opener border. >> i was at state department 11 years loved the mace. it needs reforming a bunch of people working there know the it needs reforming career officials i have heard from so many career officials rolling eyes cannot believe we are putting this garbage out official state department chinese immediate accounts the world the world is watching in alaska we had blinken wendy sherman deputy there unable to respond, it is really, a tragedy what is happening i can't help emphasize the fact china is literally going after us, in hollywood, academia everywhere else a bunch of people in washington people talking about russia, russia, russia that is beijing line they love it when people say look at russia. maria: could i would like to know who is getting paid by
ccp we will talk about that when you join me on sunday on "sunday morning futures" fox news thank you for your service, ric, christian whiton on panel today also worked with state department, and has seen it all, thank you christian whiton, relinquished grenell thank you for being here we will see you soon ric, thanks. we'll be right back. .
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