tv Mornings With Maria Bartiromo FOX Business November 18, 2021 6:00am-9:00am EST
boys. and this is our last shot. let's go find it. let's do it. the moment of truth. let's see what ole has in the mountain for us. holy cow. you guys got to see this. maria: good thursday morning, everyone. thanks so much for joining us. i'm maria bartiromo. it is thursday, november 18th. your top stories, i. 6:00 a.m. onthe east coast. we preview the comptroller of the currency nomination this morning. bullied by beijing, new evidence chinese embassies are pressuring businesses to break u.s. law in favor of pro-china policy. china also fueling the drug epidemic here at home, overdose
deaths hitting an all-time high last year driven by fentanyl. markets this morning are higher, take a look at futures indicating a gain at the start of trading, the dow up 61, s&p 500 up 14, nasdaq higher by 88 and-a-half. stocks slipping from record territory yesterday, weighed down by mixed retail earnings. the dow industrial down 211 points by the close, nasdaq lower by 52 and s&p 500 down 12 and a quarter at 4:00 on wall street. european markets are searching for direction, take a look at the eurozone, the dax index flat, fractionally higher. asia overnight, red across the board, hong kong was the worst performer, hang seng down better than 1%. "mornings with maria" is live right now. ♪ i'm coming up so you better get this party started.
♪ i'm coming up so you better he get this party started. maria: now your morning movers this morning. first up, nvidia, the stock is up after reporting better than expected earnings last night, shares up 6 and two-thirds percent up right now, third quarter sales up 50% to $7.1 billion. the company reporting a huge boost in video game sales, up 42% from a year ago. and then there's cisco this morning, falling in the premarket. it posted earnings last night, cisco shares right now lower by 6 and two-thirds percent. it reported mixed results. it is forecasting second quarter revenue to fall below expectations. the company blaming slowing demand for network hardware and a chip shortage. of course the supply chain issues rattling earnings. meanwhile, markets are higher this morning ahead of the jobless claims numbers and another round of retail earnings this morning. we'll bring you all of the numbers. dow industrials up 65 right now. we're waiting on bj's, macy's,
kohl's, petco, set to report ahead of the opening bell this morning, investors keeping an eye on how inflation will impact the numbers as companies continue to announce price increases to help battle rising expenses that they are facing. joining us now equity strategist, steve sheverone. great to see you. thanks for being here. joining the conversation all morning long, fox news contributor, joe concha and former ceo of home depot and chrysler, bob nardelli. thank you for being here. steve, kicking things off with you, we are waiting on earnings reports. we've got economic data as well. assess the macro story for us and how you are looking to invest right now. >> yeah, most things are good from a macro perspective in terms of consumers having money and spending it. corporates having a lot of cash, obviously rates are still low. the key concern, as you've documented very well, is
inflation. it's high. it's running at 30-year highs across the board. i don't think it's a story of transitory versus sustainable or of persistent. i think it's both. parts of it have been transitory but lumber prices fell, inflation persisted. reopening trade prices fell, inflation persisted. i think you're going to see supply chain pressures fall a bit as we get into next year and i think inflation is going to persist because you can't continue to run at 5, 6% wage inflation and not get inflation. and that's the big concern right now. maria: yeah. i mean, the impact on the consumer is also so important. you say this trend of companies passing on the rising cost to consumers will continue. what's the implication of that, steve? is that going to cut into consumer spending as well? >> i think it can. and there's a sad irony here. the argument for running the economy high is to try to get the labor market in a he position where the least advantaged among us can get wage
increases. that was happening before the pandemic but at a much more measured pace. well, the problem is, is you've sparked an inflation response here. so wages are up 5, but inflation's up 6 and-a-half. and for folks at the lower end of the income chain it's up more. you think about when you're starting out in life or if you have lower income, rent, food, utilities, gas prices, that could be 60, 70, 80% of your budget. that really, really hits and can destroy some purchasing power. that's what we're concerned about on the inflation front. maria: yeah. i want to get your take on whether or not all of this has changed the way you allocate capital. are you investing differently as a result of this inflation spike that we're all experiencing at a 30-year high? >> yeah, we have for some time. i think you have to shorten duration on the fixed income side, you don't want to own long duration fixed income when rates can rise. on the equity side, growth stocks where a lot of the value
is out in the future, that can getter roaded away by -- geter roaded away by inflation. you want dividend income. we're positioned for a portfolio that's going to generate certainly above 2% inflation for some time. and that's how we have all of our portfolios positioned. and then at the stock level it's about passing on price. can you pass on price or do you have to eat it in margin? if you can pass on price, you're problem okay and earnings will go higher. if you eat it in margins, i don't think the street will be forgiving of that at all. forget about the laffer curve. that's a laughable curve. i don't see how that works. maria: yeah. what do you mean? >> well, i think what we're going to see when we see the cbo scores here, there's really no way that this is going to be paid for in any way. if it's a net stimulus at a time when inflation is running 6
and-a-half percent, i think that provides an upward a pressure on inflation. there's no signs of the inflation decelerating at this point. it is still accelerating and policy suggests it may continue to do so and i think that's going to spark the fed to have to move faster and earlier next year. maria: yeah. i want to ask you about the fed. there's a lot of questions around the fed and obviously as you correctly note, this massive spending package that they are still trying to push through, despite this inflationary story, let me bring bob nardelli in. go ahead, bob. >> hey, steve. good morning. i couldn't agree with you more about inflation. certainly from my seat on this side of the table, any chance i can get for my companies to pass it on, i do, and as a consumer, boy, it's a lot of pain, to your point. one of the questions i would ask you, steve, is, you know, we talk a lot about retail performance and how good they're doing. you would know this as well as i from my experience, the real
question here is is the growth in revenue, is it from mix? is it from price? or is it really volume? you know, i know, for example, in the auto industry they're putting chips in the high end. they're increasing the mix. and therefore they're getting higher revenue but not on volume. how sustainable will that be going forward for your portfolio? >> bob, that's a great question. talking about home depot, you saw that in their numbers where average ticket prices was up but maybe volume wasn't up to the same extent. i think that's the game right now. you're going to be bullish on the market as long as you think companies can pass on the prices, absorb them, pass them on, in some cases take a little additional margin and earnings estimates continue to move higher but you do have to ask yourself, at what point over the course of the next year when you're asking companies to absorb higher wages, labor shortages, higher input costs, input cost shortages or input good shortages, higher energy
costs, the potential for higher taxes and maybe higher rates, at what point do you start to damage purchasing power at the consumer or hurt the ability of companies to pass on price? i think you've got to be humble about that. we were talking -- you've got companies chartering their own ships right now. so we'll see. it's something we're concerned about. until we see the earnings momentum break down we've got to stay in the trade. maria: yeah. i think it's true, these issues that companies are faced with, we're also on fed watch, steve. got a big decision looming for president biden, who will he nominate as chairman of the federal reserve. we're waiting to see whether he will reappoint jay powell or replace powell with fed governor lyle brainard. you think the choice is tied to the build back better agenda. what are you expecting and what do you mean? >> yeah, no, i absolutely think it is. because you've got this dynamic in washington, if you look at the president's net approval rating and the congressional
ballot, historically it would suggest the republicans are set to pick up let's call it 50 to 70 seats in the house. they know that. and so the progressives feel as if they don't do enough, they're going to be in trouble. the moderates feel if they do any more they're going to be in trouble. i think the brainard versus powell pick is compensation to whoever is going to lose. if manchin and company wins the day, and this bill either doesn't happen or is much smaller, i think powell is toast. and brainard is the pick to ameliorate a frustrated progressive block. .i think the revenge of the moderates is they don't allow brainard to make it through the senate. so i think once you see that pick and i thinks that's why it's taking some time, you're going to get a sense as to what the fate of build back better is and whether or not it's likely to be bigger or smaller in its final form. maria: yeah.
well, yeah, we'll see. he's going to have to make his pick he said in the next 24 hours and we're probably not going to know about that plan until year-end. they keep moving the goal post back because they don't have the votes, steve, as you know. great to see you this morning. thanks so much. >> thank you for having me. maria: we will see you sorn. have a great thursday, steve. some of the top stories we're watching this morning, the wide open border front and center today, president biden set to meet with canadian prime minister justin trudeau and mexico's president, that happens later this morning. biden and overdoor expected to focus on the root causes of migration, not the overwhelming amount of migrants trafficking and drug crossing over every day into america. the drug problem getting so bad, the u.s. topped 100,000 overdose deaths in the last year, first time in history with fentanyl made in china and pushed through mexico into america. meanwhile, the conversation with
trudeau will be less about the border and more on tensions over the oil pipelines and electric vehicle tax credits for american made cars. president biden meanwhile now blaming oil and gas companies for rising expenses at the pump. he's asking the federal trade commission to investigate whether illegal conduct is leading to the higher price of oil. critics blaming bad policy of course after he shut down the keystone pipeline on day one and banned drilling on federal land, all this coming as resurfaced video shows president biden's nominee for comptroller of the currency saying she supports the idea of energy companies going bankrupt. >> what i'm thinking about is primarily coal industry and oil and gas industry. a lot of the smaller players in the industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change, right? maria: she will have her feet
to the fire today. she has her nomination hearing on capitol hill, it starts at 9:30 a.m. eastern this morning. we will preview that nominating process he's. meanwhile, the occupational safety and health administration suspending enforcement of president biden's vaccine mandate for companies with more than 100 employees. this follows the stay from the fifth u.s. circuit court of appeals. it's calling the mandate fatally flawed. meanwhile, moderna resubmitting its application to the fda for approval of the covid booster doses for all adults over 18, the agency expected to authorize pfizer booster shots for all adults as early as this week. we are just getting started this morning. coming up, president biden's mental fitness called into question again, a new poll of this morning highlights how americans feel about that issue. and then stocking up ahead of the holidays, how shoppers are boosting earnings in the retail round-up, coming up. then the return of the la auto show in person, we're going to take you there live. don't miss a moment of it.
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maria: welcome back. now this. almost half of the country believes president biden is mentally unfit, according to a new poll. the survey reveals only 40% of voters find biden to be in good health with his 79th birthday just two days away. take a look at the numbers, 50% say he is not in good health. it comes as the president's overall poll numbers of course are continuing to plummet, near all-time lows. joe concha, your response and reaction to this most recent plummeting poll, now focused on his health. >> yeah. i mean, when only four in ten americans believe that the president of the united states, the leader of the free world is in good health, that he's mentally fit to be president,
that is disturbing and perhaps -- i'm just spit bawling here, maria, that's why 36% of democratic voters want mr. biden to run for re-election per another recent poll. his own party sees what is painfully apparent. this is a president that a has not done a one on one interview in months, this is not the same person who was vice president five years ago and the prospect of an 80-something joe biden still in the oval office is almost disturbing, it's why mr. biden is shielded from the press. it's why perhaps they know outside of a teleprompter, he's becoming a train wreck. he probably won't take questions. the white house is signaling that won't happen today. why is that? gee, i wonder. maria: well, i mean, you make a really good point.
because our friends, foreigners, adversaries and friends, are watching the way the rest of us are watching. so when you have an adversary, for example, like the chinese communist party and they have an assessment of their key adversary's leader, they're going to take advantage of that. they're going to capitalize on that. because it's all front and center for us to see and, bob, it's not just joe biden. vice president kamala harris is also plummeting in the polls. and yet press secretary jen psaki is coming to her defense, repeatedly. listen to this from yesterday. watch. >> i do think that it has been easier and harsher from some in the right wing who have gone after her because she is the first woman, the first woman of color. maria: you know, i'll tell you, this really sets back women, okay, to come up with this garbage that it's about being a woman, it's about being a woman of color, as opposed to real
performance. how about just performance, bob, your thoughts. >> yeah, no, maria, i couldn't agree more. we have a real dilemma as joe said. what's interesting to he me, maria, has the president's health deteriorated significantly in the last 11 months or did we know this when the american people put him in office? that's the real question i think we face today. the population voted for him and now we see a real decline in not only his popularity but concerns over of his health. and then if that is correct, to your second point, where do we stand with the vice president that has even lower confidence by the american people and i think it's just a tremendous issue for us, as joe pointed out. you know, the largest country, free world, and we've got two individuals in the white house that we have no confidence in. it really creates a dilemma for us on a global scale, maria. very, very concerning. maria: yeah, and dangerous,
joe. >> yeah. jen psaki blames sexism and racism. that's a funny way for the press secretary to talk about independent and democratic voters because they rejected kamala harris in 2019 when she's was running for president. so yeah, your plan a is goa at something like -- is joe biden at something like 84 years old if he were to win re-election. your plan b is somebody where three in ten americans don't support at this point. i would love to see plan c. i guess that is pete buttigieg who hasn't hit age 40, he is the transportation secretary in charge of the supply chain crisis and won't visit in port from long beach to savannah. not looking good for the democratic party, maria. maria: he skipped out during the worst crisis we have seen with the supply disruption, he skipped out for two months, a cabinet member. we're going to take a break and come right back. stay with us.
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maria: welcome back. a new blow to president biden's vaccine mandate for private companies, osha suspending the enforcement of the mandate after an appeals court ruling shot it down. biden originally told employers with more than 100 employees to require workers get the vaccine or face weekly testing. at the time, most people said it was unconstitutional. biden even threatened to fine those companies $14,000 per violation. joining me right now is tennessee congressman mark green, he is a member of the house's foreign affairs and armed services committee and congressman, it's good to see you this morning. thanks very much for being here. your reaction to the osha suspension now and this court ruling? >> well, it's tragic that it took two different court rulings to get osha to realize that what they were trying to do was basically a violation of the constitution. thank goodness they've actually
realized it and shut it down. maria: yeah. i mean, look, you know, ted cruz, senator from texas, has said that this administration is brazenly lawless. you know, it's not just this, right. you had a number of other rulings, supreme court rulings that this administration just blew off. look at remain in mexico where the ruling was that they had to reinstate remain in mexico and they never did it. and now you have this push of forcing companies to force this vaccine on employees, even though many constitutionalists at the time said this is unconstitutional. you cannot have the executive office force such a rule on companies. do you think they will actually now not force it or is he still going to try to he blow-off the law? >> i anticipate him to continue to try to blow this off. i mean, these guys, they have
really flipped into the -- an authoritarian mode. you look at the southern border, they're ignoring the courts there and it's pretty obvious that that southern border is a mess for america. 17,000 people distributed throughout the country just last month. the highest number in -- ever for october. 164,000, you i think in your monologue talked talked about fentanyl and the record number of overdose deaths. he doesn't care about america. he's trying the to remake america into a socialist utopia. they know things like the southern border, they'll come over, have anchor bay business, they'll vote democrat. that's why they're doing this. it's really unconscionable. maria: the mothers of these people who have overdosed have to be feeling i mean just shell-shocked.
how does this happen that fentanyl is made in china and then pushed through mexico, the mexican cartels getting it in here and killing our people. i mean, is the ccp just trying to kill americans or -- i mean, what -- how is it possible that there's no acknowledgement of this? do you think this is going to come up today? because the president is going to be meeting with the president of canada, the prime minister of canada, the president of mexico and of course this comes at a time that all of this is in our face. you know, biden canceled the keystone pipeline. that's going to be an issue. it obviously impacts canada as well as the united states. he's talking about shutting down another pipeline. there's the crisis at the border. we have record numbers of illegal migrants coming in, getting arrested every day. the got-aways, i'm told it's 400,000 got-aways year-to-date but of course we have no idea. those are only the got-aways that were seen on surveillance video. so what do you think is going to be the main focuses of these
meetings today because we're expecting him to go to his root causes conversation and we know the root cause. the root cause is canceling the xl pipeline and having a wide open border, isn't it? that's the root cause. >> absolutely that's the root cause. you know, basically you look at immigration from a push factor, the t path that people have to take and the pull factors. the pull factors basically have been opened wide up. so there's no barrier and the president of mexico is not cooperating now. in fact, i would be willing to bet willingly letting caravans come across because it gives him leverage in the economic discussions that may be a partof this meeting today. that's the leverage point president trump used, he threatened tariffs an got what he wanted from the mexican government. this mexican government is using the immigration issue to get something from biden and who knows -- i don't have crystal
ball. i know what president biden should be talking about, it's getting them to stop the caravans, remain in mexico and all the things that would secure our southern border. this administration seems to be doing everything we wouldn't do, whether it's blocking oil, restricting the supply of oil and then asking opec to increase it, the gas pipeline and now investigating our oil producer as if they're somehow price fixing. you can't be this stupid, maria. but that's exactly what they're doing. maria: yeah. and now he's trying to blame the oil and gas companies as he begs opec and begs china to release more oil. it's just incredible what's happening right now, congressman. i mean, the good news is, america sees through this. congressman, we'll keep watching it. thanks very much. congressman mark green. and we'll be right back. ♪ ♪ ♪
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good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, november 18th. take a look at markets this half hour where futures are indicating a gain at the start of trading this morning. dow industrials right now up 75, s&p 500 up 15, nasdaq higher by 88. stocks pulled back yesterday from record territory, we had mixed retail earnings which pressured markets by the close. the dow industrials were down 211 points. the nasdaq was 52, s&p lower by 12 at 4:00 on wall street. european markets are searching for direction. ft 100 down 15, cac up 12, dax higher by 11 right now. and in asia overnight it was red across the board. hong kong was the worst performer, the hang seng index down about 1 and a quarter percent on the session. back in the u.s., john deere factory workers are back on the job this morning after agreeing to a new six year contract. lauren simonetti with those details right now. >> good morning. maria. the new contract ending a month
long strike. it includes an $8,500 signing bonus, 20% increase in wages over the lifetime of contracts, 10% coming this year. cost of living adjustments and enhanced options for retirement. the john deere working strike, first one for the company since 1986. the end of it boosting deere shares by 1 and a quarter percent in the premarket. the house is voting to censure republican congressman paul gosar over an animated video he posted last week that showed him killing democratic congresswoman alexandria ocasio-cortez and attacking president biden. it's the first time the house censured a member since 2010. he defended himself, saying it wasn't intended as a threat but rather a depiction of the policy battles between republicans and democrats over immigration. a big storm may disrupt your thanksgiving day plans and potentially hit the central and
eastern portions of the united states hard. the warning comes as the transportation security administration is expecting the number of airline passengers to rebound and return to pre-pandemic levels for the holiday weekend, 4.2 million of us expected to fly for thanksgiving, the tsa assures fliers it's ready for the surge. we'll see. a vaccine mandate goes into effect monday day for the tsa. netflix's red notice starring dwayne johnson, ryan reynolds, it's on track to be the most watched movie ever for netflix. it has been watched for 148.7 million hours worldwide since it debuted on november 12th. that trails the show, squid game, 1.6 billion hours viewed. i tried both, maria. eh. it's just -- i can't get into either one. i don't know about you. maria: really? >> yeah, squid game. maria: i haven't tried yet.
i heard of the popularity. i heard how popular it is, squid game. thank you. lawyers for kyle rittenhouse make a new motion for a mistrial over drone video that says was transferred by the prosecution at a lower resolution than was available. the defense argued they would have tried their case differently if they had access to the higher quality video. the jury asking to review the prosecution's version of the video as they enter the third day of deliberations. joining me now, former prosecutor, defense attorney and cornell university school of law adjunct professor, randy zell en. assess where we are in this today. >> there are two fundamental issues when we talk about the government's responsibility to turn over evidence. the easy one is, and we hear this a lot these days, the government has to turn over any evidence which would be favorable to the defense. we call that brady material. we call it exculpatory material.
but equally as important is the government has an obligation not to play high the ball with proof. whatever the proof the government has, the government is obligated to turn over to the defense prior to trial to give the defense an ample opportunity to adequately prepare a defense. so for example, if the government's proof is this, the government can't say oh, i'm sorry, we're only giving you this. the government must give what they have, they must give what they get. they did not. and we now see once again this judge wondering aloud whether or not that crossed a boundary. maria: so, i mean, what about that video? who that have changed anything? the actual real video rather than -- i mean, obviously they're saying, the defense, that it would have -- they would have tried the case differently.
>> i think that's code speak for maybe we would have taken a plea because apparently this video -- and for those of us who have been saying and crying from the rooftops that mr. rittenhouse is going to be acquitted based upon the proof that we've seen, this drone video, which apparently cuts out the lags from the defense of we were not provoking anything because apparently the drone video shows mr. rittenhouse pointing his weapon at people when he has testified and the defense theory has been, no, he never did any such thing. so i'm wondering how genuine saying we would have tried to case differently is, but again, it's really neither here nor there. it's a critical piece of evidence. the defense was entitled to the same evidence that the government has, the same evidence that the governments was presenting and the defense did not get it. maria: yeah. there's also the media angle here, randy.
i mean, the judge presiding over this murder trial slamming the media over its criticism of the decisions on a range of issues during the case. kenosha county judge bruce sh roader said he -- shrodeer said he will need to think long and hard about allowing televised trials in the future. >> when i talked about when the trial started, we were there in part because of grossly irresponsible handling of what comes out of this trial. the people should be able to see what's going on. but what's being done is really quite frightening. maria: randy, your reaction? >> well, my initial reaction is live by the sword, die by the sword. certainly judge shroder has to a great degree injected himself into the spotlight by some of the decisions that he's made, some of the way he's handled his
courtroom, so i guesses not going to be -- guess he's not going to be too happy with me either but our justice system demands transparency, our justice system demands accountability, not only of our prosecutors, not only of our defense attorneys but of our judge as well. the judge made the decision to allow cameras in the courtroom. that's about as much sunshine as you could ever put into the courtroom for all of us to be able to see. if you put that spotlight on yourself, then you have to appreciate the fact that when you make rulings, saying that the prosecution can't refer to the victim as victims but the defense can refer to them as rioters and looters, when you play jeopardy with your jury, when you give the defense free reign in terms of the alternates and when you wonder aloud if you should declare a mistrial and there was injustice by the prosecution, what do you expect
to happen? maria: okay. well, we'll be watching this. randy, thanks very much for weighing in here. really an incredible story. randy zellen joining us this morning. we'll take a break. when we come back, the electric vehicle boom or is it. whether the high flying stocks will come back to earth. we'll get into it. and the key to becoming a better hugger, why timing is everything. it's making a buzz this morning, when we come back. ♪♪♪
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maria: welcome back. electric vehicles market values are blowing past traditional automakers. but is it warranted? we're breaking down the rise of the ev market in two minutes' time. when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be. together, we can create a kinder, more inclusive world for the millions of people on the autism spectrum. go to autismspeaks.org hi, i'm steve and i live in austin, texas.
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night after night. we take care of the science. all you have to do is sleep. and now, all smart beds are on sale. save 50% on the new sleep number 360® limited edition smart bed. plus, 0% interest for 24 months. only for a limited time. maria: welcome back. the rise of electric vehicle stocks driving their market values past traditional automakers. lucid market value of 86 and-a-half billion surface's ford's market value, this happened this week. rivian valued at more than 120 billion. this morning we're starting to see the names pull back as some are raising questions on these valuations. ivan fineseth is cio and director of research at tigris financial partners. he is with us right now. good to see you. thank you very much. are these valuations warranted? >> it's an exciting time in the auto industry. we're going to see a massive
shift to electric vehicles. right now there's about maybe less than a dozen electric vehicles on the market. a year from now, at this time, there will be between 30 and 40 cars. so there's a lot of excitement and tesla, rivian, lucid, are all pure plays but i still say the play in electric vehicles is going to be general motors, followed by ford. and actually in june of next year, marks the tenth anniversary of the tesla model s, the launch of the tesla model s. it's taken a long time but we're finally going to start to be there next year. it's going to be a major shift to electric vehicles. it's going to cause a lot of traffic to come into dealerships, consumers to start to look at these cars and about 50% of all new cars bought this year and in the next year, it will be traded in in four years on electric cars. after that cycle, almost 100% of all cars bought will be traded in on electric vehicles. we're going to see this massive
wave, not of includes the electrification but autonomous technology, improved safety systems and i really love ceo of gm mary barra's of triple zero, year in rove emissions, -- zero emissions, zero crashes, zero congestion because we'll have trends in how we commute. maria: the question is, are customers buying it. we've got bob nardelli here, of course who ran chrysler and was also watching this transition. bob, i know we've been talking about electric vehicles for a long time. obviously the market is excited about it. these companies have higher market valuations than the traditional automakers. but is business there? are customers buying this? or are they still buying their big suvs? >> yeah. well, thanks, maria.
and ivan, you made some excellent points. for example, i think today's installed base is about 2% electric vehicle, ivan. and again, the transformation i think is right. these start-ups are tremendously over-valued. if you look at they're going to produce 20,000 vehicles, maybe next year. they have to build a factory. i think the current internal combustion engine car dealer or car manufacturers like gm, like ford, basically have the infrastructure in place to outpace this. they were waiting for the market pull to create the demand for electric vehicles. tesla was out trying to push the vehicles. now we have consumers pulling the vehicles. so i think you're going to see those people that already have the factories, already have the installed base, certainly the ability to do the autonomous are going to outperform the start-ups just based upon what they have in place.
i do think -- i do think it's going to take long than some of these projections. people are keeping their cars longer. people still have range anxiety over lithium ion batteries. we know we have a concern about lithium ion relative to the sources and the availability of that. i think you might see solid state batteries come into play. i don't know what you're comments are about that. but i'd appreciate your point of view. >> well, we are going to see the shift as electrification grows, you're going to see the cars are going to go farther on a charge, they're going to charge faster. there's going to be more places to charge, the battery technology will continue to evolve and the cost of the batteries and the cost of he producing these vehicles will come down. i do agree that the early enthusiasm for some of the pure play electric vehicles has driven the valuations up maybe a little bit too high but those are just normal market forces. we've seen that with every type
of new and emerging technology. there's a lot of enthusiasm behind it. it drives the valuation up significantly and then either over time the business catches up but i do believe that gm and ford -- gm has over 100 factories around the world. they got 11 million -- sorry, 11,000 dealerships around the world, 4600 dealerships in the u.s. they are going to be able to help consumers purchase, service and meet the demand of these electric vehicles. but so the market forces are just the early enthusiasm for these and it does tend to push valuations maybe higher in the interim than they should be and then they do ebb and flow and come back to earth but it is overall an exciting time. maria: that's the thing. markets get ahead of themselves often in so many areas, eye van. it's great to see you. thank you very much for all your
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-- couple times. for the sake of this conversation, three seconds max for a standard hug. if you're at a funeral, goes up to 7 to 12 seconds. three seconds, that should do it. maria: bob, are you a hugger? >> maria, you know, by genetics as an italian we tend to hug, i have to admit that. and with everything that we're facing in this country today, this is really a pleasant topic to talk about hugging but now we robotically introduced we have to count 1,000, one, 1,000, two. i've got to worry about how long, hand placement. why not just do something spontaneous for once? ?>> excellent point. maria: don't count. yes, you're right. all right. we will take a break. we will get back to business. retail earnings are rolling in. the biden administration's
crackdown on energy companies and biden's looming decision on the federal reserve chairman. we're breaking everything you need to know down with the word on wall street. it all starts right here, next hour. "mornings with maria" is live on fox business. we'll be right back. ♪ gloria. ♪ gloria, i think they got your number. ♪ gloria
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really pays. paid for by the u.s. department of health & human services maria: good thursday morning, everyone. thanks so much for joining us. i'm maria bartiromo, it is thursday, november 18th. your top stories right now. border disorder, president biden meeting with his counterparts from canada and mexico later today and the border discussions are the agenda, focusing on root causes instead of the crisis currently out of control, plaguing the border. this as prominent democrats are now calling for vice president kamala harris' ouster as border czar. we are following it all morning long. we just heard from macy's, a
double beat on earnings and revenue. the company raised its full year sales guidance as well. that is sending the stock of macy's this morning up better than 4%. rest of the market also higher, take a look at a firmer tone for the futures right now, dow industrials showing a gain of 67 points, s&p 500 up 15, nasdaq higher by 86, we may very well move further into record territory after stocks pulled back from record highs yesterday, weighed down by mixed retail earnings and worries on inflation. the dow industrials were down 211 points at the close, the nasdaq was down 52, s&p 500 lower by 12 and a quarter. this morning european markets are searching for direction, take a look at the eurozone, the ft 100 is lower by 10, cac is up 9 and the dax index is higher by 8 and-a-half. in asia overnight, red across the board, hong kong the worst performer, the hang seng index down 1 and a third percent. "mornings with maria" is live right now. now some of the top stories that we are following this morning.
republican lawmakers expected to grill president biden's nominee for comptroller november the currency today. saule omarova over her views on american banking and companies. she has written several academic papers, calling for the u.s. government to abolish private banking and put all bank accounts into federal reserve's control. the comptroller of the currency is the chief regulator of national banks. senate banking committee republicans demanding her college thesis on karl marx. we'll hear from senator bill haggerty to preview the nomination senate hearing coming up. osha, the occupational safety and health a administration suspending enforcement and implementation of president biden's vaccine mandate order. that was for companies with more than 100 employees. this after a stay from the fifth u.s. circuit court of appeals. they called the mandate, quote,
fatally flawed. and moderna resubmitting its fda apa mri case for approval for its -- application for approval of covid booster doses. the agency expected to authorize pfizer booster shots. the jury is set to deliberate for a third day in the kyle rittenhouse murder trial. his defense says they were not provided the same copy as the prosecution of drone footage that was key in the prosecution's case. more protests broke out as the city and national guard brace for potential unrest after this highly watched verdict. time for the word on wall street, top investors watching your money, joining me right now is ubs financial services private wealth had advisor, allie mccartney, senior vice president of investments jim mccamp and leo kelly. great to see everybody this morning. thanks so much for being here. allie, kicking things off with
you, in a week that we have earnings from retail flooding in, macy's just reported, better than expected quarter, he beating estimates on the top and bottom line, raising the full year sales guidance. the stock is on fire, it's up better than 6%. it's on the move. kohl's earnings also just out, another beat and a raise in terms of guidance going forward. kohl's announcing that it's going to buy back more than a billion dollars of its stock. that stock is up 4 and a third percent. and of course al e -- allie, this comes after a busy day yesterday. your reaction to the retail numbers and what they tell us about markets and investing today. >> good morning, maria. it's nice to see you. i would say, it's like a really maybe a 12 second hug, these retail earnings for the market. what you have seen is exactly the narrative we've been talking about. there is about $700 billion of additional consumer spending that -- relative to pre-pandemic
trend, we are an economy dominated by spending goods and services, consumer spending makes up about 60% of economic growth. and the combination that each of these companies have, of very low inventories because of the supply chain issues we're talking about and extremely high consumer demand has allowed them to maintain pricing power and to continue to just bust through earnings numbers, surprise to the upside and like all of the companies that you mentioned, even raise guidance going forward. so i think this is exactly endemic of what we see in the markets. it's not fun to see the markets go up and up and up, to see the s&p go to 4700, to see the nasdaq kissing 16,000 and to say, yep, i know we liked this 10% ago and 20% ago and 30% ago but we still like it. we like it for the reasons you outlined. buybacks are major.
we see 12 to 18 months of significant buyback activity. dividends are rising. supply chain problems are not necessarily abating for the next two to three quarters. consumer demand is strong and we haven't yet totally switched to services. but i think that the real question is going to be, in 2022, is what will demand look like in 2022. and i think there will still be a lot of healthy consumer demand. but i think that that is going to change a lot to services and that is going to change the composition of the relative winners and losers. maria: allie, i am just loving this macy's story, the stock is on fire as you're talking. it's now up 9%, allie. and i just want to point out that the digital sales at macy's were up 19% year over year but when you compare digital sales today to 2019, talking about up almost 50% on digital sales, allie. check out the stock, up 9 and two-thirds percent right now.
it's moving fast and it is heavy volume as well. do you see the digital component lifting other boats within the digital world and are there stock picks that you want to own or recommend within retail, given this backdrop? >> yes. so, look, i think the concept of pay sigh's which is real -- macies which is really a pure play retail that has been in a sense late to the game in terms of adopting digital, that's a great story. a lot of these -- but then on the other side, you had lowe's, home depot, et cetera, talking about same store sales going up. so whether you ordered digitally and you go to the store and pick it up or whether you're doing it online, is that going in creates other needs and so, yes, i think one of the things that we've talked about at length about the pandemic is bringing forward both demand and trends and so digital is absolutely here to stay. the bulk of the new entrants into retail are pure, direct to
consumer, pure digital and i think you're going to see the brick and mortar increasingly adopt that, especially as the goods revolution continues and inventories can build up. maria: yeah. i agree with you, allie. especially since we did so much digitally during the pandemic, that it's likely that we're going to continue doing that post pandemic, right? because we got used to a different approach, a different way of ordering and buying things. so retail is hot once again. jim, we've got to talk about oil because now the president is blaming the oil and gas companies. he's blaming exxon, chevron, for the expense of gasoline. the fact that we are looking at a huge spike in inflation and oil prices are up 50% year over year. he is now directing the ftc to investigate whether or not there's illegal conduct from these companies and that's leading to the cost of oil rising. jim, instead of blaming his bad policy, i mean, come on, day one he walked in there and he killed the xl pipeline.
he wants to blame energy companies. your thoughts? do you want to stay with oil companies as a result? what are your thoughts from the investment play? >> i'm very bullish on the energy companies, the fossil fuel companies and the uranium companies. in terms of what the administrations' doing, so, look, you can't shut down these federal permits and shut down pipelines and expect the prices are going to be the same. what's really happened here, maria, is that we don't have a supply response. there's an addage in texas, the cure for high oil prices is high oil prices because the oil companies produce more oil and bring in supply and prices come down. it's supply and demand. supply and demand still works, believe it or not. when you curtail supply by shutting down pipelines, by killing off federal permits and by trying to get companies and pension funds to reduce cap-ex
in the space, you're going to not have that supply response that you need. and at the same time, demand is rising. we've seen as covid has gradually come off the boil and the economies around the world have gradually reopened, you've seen demand go up. you've got demand going up. you don't have supply meeting the higher prices. and so it's a lot of it is policy. and look, when you shut down a pipeline, what happens? they still produce. but now they just have to ship it in trucks and trains. which doesn't really help anything. it doesn't change anything environmentally either. so i don't know why they're blaming opec, i don't know why they're begging china to produce more oil. and at the same time, curtailing u.s. oil companies and there's some real problems in the oil patch, maria. right now, they're having a hard time getting pipe. they're having a hard time getting pipe casings. so even those companies that want to increase production are having a hard time doing it. so i'm still very bullish on the
space for not only oil and gas, but we are seeing countries around the world reopen their eyes to nuclear power too so i like uranium as well. maria: yeah, i love all of those comments that you made, jim. and i agree with you. i feel like, you know, it's more dangerous to be transporting oil on a train where anything could happen on that train as opposed to in a pipeline below the water level. i mean, it's pretty obvious to me but okay, interesting to see you are still bullish on these stocks even though so many are changing their structure and changing what they do, right. exxon, they're canceling production and then there's the fed decision, leo, i mean, we're waiting to see whether president biden is going to choose jay powell or fed governor lyle brainard. i reported many sources have told me he's leaning towards lyle brainard and that is going to have real market implications. do you expect and -- what do you expect and what's priced in the
market right now. i see the betting on wall street is he reappoints jay powell. what are your thoughts? >> one thing that bidens has proven is he will go the unconventional pick and so while jay powell is the leading candidate and probably the easy selection, i think you're right, maria. i think what we have seen from the administration is to go in a didn't direction. i think the really important question, though, is what does that mean, whether he picks lyle brainard or he picks jerome powell. maria: right. >> and they're very similar in many respects. and i think it speaks to a bigger issue. when you look back at fed governors' policies prior to being selected, they have a very different profile than what they end up having once they're in the position. the reality is, is that the fed governor has a new mandate. it's no longer just inflation
and jobs. we saw that when jerome powell just kind of softly walked the old inflation conversation for 18 months up to, hey, guess what, there actually is inflation which is a little bit absurd and the jaw boning is a little bit crazy. their new mandate is asset price stability and rising markets and they step in at every occasion and so the question is, if it's lyle brainard, will she take on the mantel, the traditional fed role? we've said this many times. we are coming off one of the greatest economic anomalies in history, in history. and so the real question is, what is the unexpected outcome of those anomalies and can the fed act quickly enough and not fall under political pressure. policy error, both fiscal and monetary, are the biggest threats right now to the markets. maria: yeah.
you make a great point. the journal's op-ed this morning, tweedle dum and tweedle dee at the fed. it is not transitory. it hasn't been temporary. great to see you all this morning. thanks for a great word on wall street. quick break and joining the conversation all morning long this morning is joe concha and bob nardelli. we're going to get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business. [gaming sounds] [gaming sounds]
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like fentanyl accounting for 64% of those deaths. fenced nil as i have been -- fentanyl as i have been reporting has a been making its way into the country through cartels from mexico after being made in china. joe, this is the first major element that i came back with when i came back from the border the second time. i couldn't believe the amount of illicit narcotics on the street, having come in from mexico and made in china. you've got the chinese cartels working with the mexican cartels. your thoughts? joe: it's such a dubious, disturbing, sad number, maria. it's the most underreported story of the year outside of maria bartiromo and a few other reporters going down to the border, not only to discuss the migrants coming across it but all the drugs coming across with them, killing americans. this is the open border we're told is closed by this administration and it's to blame and i don't think i've heard the president even mention this issue once in any major speech. the fact that you now have
100,000 americans killed over this issue, and we don't hear an administration talking about it very much because they don't want to talk about it because they're culpable in this, maria. maria: i mean, bob, what's the point of pushing fentanyl through the country? i mean, it's to kill americans. is china just trying to wipe us out? bob: well, america -- i mean, maria, this is just another proof positive example of this administration either ignoring this issue like so many others with immigration, or they're just -- they are aware of it and just turning a blind eye. i mean, the point you made earlier on the last conference with prime minister xi, it never came up about the covid issue. again, i just think there's a major sense of dismissal of these major issues that are facing us as americans and they're just turning a blind eye to it, maria. it's very sad for the lives that are being lost as joe mentioned.
maria: yeah. because the progressives are run aring things. we are going to take a break. when we come back, we're going to look at a potential bank regulator who hates banks. senator bill haggerty is here to preview the nomination hearing for saule omarova today on capitol hill. stay with us. it's time for the ultimate sleep number event on the sleep number 360 smart bed. what if i sleep hot? or cold? no problem, the sleep number 360 smart bed is temperature balancing so you both sleep just right. and it senses your movements and automatically adjusts to keep you both effortlessly comfortable. so, you can really promise better sleep? yes! you'll know exactly how well you slept, night after night. we take care of the science. all you have to do is sleep. and now, all smart beds are on sale.
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here what i'm thinking about is primarily coal industry and oil and gas industry. a lot of the smaller players in that industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change, right? the way we basically get rid of those is we starve them of sources of capital. maria: this hearing comes on the heels of a new report that omarova was arrested in 1995 19r theft. she stole shoes and other things, hundreds of thousands in items. joining me now is tennessee senator, senate foreign relations committee and banking committee member, bill haggerty. it's good to have you. thanks very much for being here. what are you expecting this morning from this hearing? >> i serve on the senate banking
committee. i think we're to see details questioned of a controversial candidate. this reflects the massive bait and switch that america undertook back in 2020. biden campaigned as a moderate. he put forward some of the most radical nominees we've ever seen. we're talking about a marxist academic, that wants to put bank accounts in charge of the federal government. she'll be in charge of an army of 2400 bank examiners around with a billion dollar war chest. you think about what the biden administration talked about in terms of spying on bank accounts, giving them the opportunity to come in and execute any company they want because they're in a disapproved category. she is talking about oil and gas or coal. it's not the government's role to step in, to set the private sector aside for the government to allocate capital which is what she's talking about. she wants to be able to use the government and a social engineering tool to dictate where financing can go and where it cannot. she said it. she wants the bankrupt american companies with whom she may
disagree. maria: yeah. well, look, i just mentioned a report that she stole items, she stole apparently $200 worth of items years ago. that's coming up now ahead of her nomination process. i want to make sure that i correct, not tens of thousands. but she wants to nationalize banks. tell me about that she doesn't want people to have their own private banking account, she wants the federal reserve to be running our bank accounts? >> that's what she says, she wants the federal reserve to be in charge of it, she wants the government to basically be in charge of all banking assets. .they can spy easily on every american. they put forward the proposal, whether $600,000 or $10,000, they want access to this. they want the irs to have access. they're talking about massively expanding the irs. the snooping on america is going to be severe. this feels like communist china and the surveillance environment there. that's the direction she wants to take us.
allowing the government to determine which industries are favored and which are not, which ones he deserve to be banked and which should go bankrupt, those were her words. this is frightening. maria: it is frightening, you're right. i know this is the first test in your committee, the banking committee. but then she's got to clear that and then the committee later votes on her nomination, if approved it goes to the full senate. what are your expectations? is she going to get through? >> i think it's going to be very difficult for her to get through our committee. i can't imagine a single republican voting for her. the committee is evenly divided. we need one democrat to call the white house and say step back, we don't need this kind of radical marxist type of approach. the banking system in america is the envy of the world. she would like to destroy the system as we know it. it will be difficult for some of
my colleagues. they will have serious reservationses with this. maria: this is not the only progressive radical that joe biden is pushing forward. we are waiting on his pick for the next chairman of the federal reserve. the president said he's going to let us know within 24 hours. we know that there's a horse race underway between jay powell or fed governor lyle brainard. senator, who are you expecting the president to choose and what would be the impact? what's the difference here in your view? >> maria, i've been reluctant to comment on nominations before they're put forward but i'll say this. we're in the middle of a series crisis, we've got national security crisis at our southern border, in afghanistan, russia piling up on the ukrainian border and china is moving everywhere around the world against our interests. the last thing we need is another destabilizing nominee put in place, particularly over the central banking system. maria: well, this is a really
good point that you make. all this as your colleagues on the democrat side are pushing through their spending agenda. look, in the house, nancy pelosi wants a vote on this massive now $5 trillion package putting to the committee for a responsible budget, she wants a house vote before thanksgiving. there are tax reporting requirements for crypto included in the infrastructure bill as well. tell me what the issue is around crypto, starting in 2023 brokers will be required to track transactions for customers and the irs. businesses that receive payments top $10,000 in crypto will have to report the identity of the sender to the government. a group of lawmakers hoping to amend this part of the law. senator cruz was telling me about this over the weekend. your thoughts. >> this underscores how reckless the democrats have been since joe biden took offers. they pushed this through the
reconciliation process. i serve on the banking committee. we have yet to see anything regulating the crypto markets. this is an area where america can innovate. the block chain technology possesses so much potential. we have people in back rooms, putting together regulations that nobody sees. you have to pass the bill before you find out what's in it. that's where we are with the regulations. we're seeing a process put if place that may completely dam dn one of the most innovative industries where america could be at the forefront and they're talking about putting regulations together in a back room. this is the last thing we should do, take an innovative industry like this and regulate it in this manner. maria: this is all just ex extraordinary. that's all i have to say. it's good to see you this morning. we'll be watching the developments. senator bill haggerty in d.c. we'll be right back.
good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it. is thursday, november 18th. take a look at markets this half hour. we have a move upwards for major averages and pretty good rallies underway. dow industrials up 34, s&p 500 up 13, nasdaq higher by 89. nasdaq and s&p 500 looking to open at new all-time highs this morning. macy's is the stock to watch. check it out. it is soaring this morning on better than expected earnings. macy's also raised its full year sales guidance. the stock is up 10 and a quarter percent this morning at $34 a share. we've got more on these results in the retail round-up coming up right here. meanwhile, a crew member on the film rust filing a lawsuit against actor alec baldwin after he fatally shot the movie's cinemaing to gray officer on
sell. >> he was accused of acting recognizeslessly, saying he shouldn't have discharged the gun. mitchell alleging that the set was unsafe, because guns were left unattended and live am a ammoswas found in violation of industry guidelines. last month alec baldwin accidentally shot and a killed hayna hutchins. zillow is facing a new lawsuit alleging it misled investors and caused great financial losses ls before folding part of its business. they cited the unpredictability of forecasting housing prices. soon, apple will allow customers to fix their own devices. the company announcing the self service repair program will sell spare parts starting next year, starting with the iphone 12
and 13 and mac computers, the move a complete 180 for apple who has been criticized for tight control of the repair process. now letting customers do it themselves. the stock is up 41-cents at 153, 90 in the premarket. and this, a group of crypto owners taking up a collection to buy a copy of the u.s. constitution. the rare early printing of the constitution is set to sell for at high as $20 million. so far the crowd funding effort raised $27 million. if the collective wins the auction, it plans to find a partner to display the copy for visitors to see. the power of the internet, right, crowd funding and crypto and letting everybody take part in viewing this copy. maria: all right. lauren, thank you. well, following president biden and chinese leader xi jinping's virtual meeting this week, a panel of security and economic experts recommending the u.s.
start aggressively dialing back commercial ties with china. this as a report says china's embassy in washington is pushing executives and companies to fight against china related bills and urging members of congress to drop bills that enhance the united states' competitiveness. pretty much beijing bullying business to try to get pro-china policy. joining me now is stephens, incorporated executive vice president, she is senior policy advisor, mary kissel. she is the former advisor to secretary of state mike pompeo. it's great to see you again. welcome. >> it's great to be back on the program, maria. thanks for having me. maria: so mary, you were secretary pompeo's right-hand. we knows that during his time in the state department. so i want to get your take on foreign policy. first, assess for us what's going on between the u.s. and china. nothing really came out of that
call between president biden and president xi jinping. what are your thoughts on where we are today and how it affects business, mary. >> well, i think that there was a lot of enthusiasm for the biden team when they came in, hoping they would continue the tough policy and maintain the leverage that the trump administration had given them vis-a-vis our china policy but what we saw over time is the first thing they did is the they stopped saying things like general secretary xi jinping and communist china, they softened the rhetoric. then had they started to have high level meetings between u.s. officials and chinese officials while getting really nothing in return and we've seen these meetings almost every month from the trade rep, the commerce secretary, the secretary of state, the national security advisor, and it all culminated in this call between the president and the general secretary and i think what it adds up to, maria, is dialogue
without leverage. and it's dialogue for dialogue's sake. it's replaying the same policy that we had 10, 20 years ago with china. doesn't recognize the reality of the threat that we face and we know that if you come to the table with beijing, without any real threat of consequence for their bad behavior, you're going to lose that negotiation. maria: yeah. and not only that, but you would think that this administration has all the leverage it needs. i mean, after all, the ccp used 2020 as an opportunity to invade and gain more land, invading india, killing soldiers there, invading hong kong, throwing freedom fighters like jimmy lai in prison. you have disappearance of executives, the status of a chinese tennis star up in the air, the women's tennis association is worried. she accused a senior chinese
official of sexual assault. and since doing so, she has been disappeared from public view. she doesn't have a footprint online. the chinese state broadcaster did post on twitter yesterday a screen shot of an e-mail she allegedly sent to the wpa where she said the sexual assault allegations were not true. she said, quote, i'm not missing, nor am i unsafe, i'm just resting at a home. everything is fine. yeah, right. we haven't seen her. mary, you are an expert in business as well. i want you to talk to us about what american businesses need to understand about operating in china, given the fact that the ccp is giving out honey pots to companies like jp morgan, goldman sachs, all the rest who will be able to own 100% of their businesses there. >> well, a couple things to say here, maria. first is that it's a feature, not a bug, of every communist system that's ever existed that they place no value on human
life. secondly, everything that they say is usually the opposite. so when they say everything is fine with that tennis player, no, not everything is fine. in fact, exactly the opposite is true. now, when it comes to doing business in china, i just want to go back to where you started the segment with that letter that the chinese embassy has sent to certain business leaders. this is a clear meddling in our domestic affairs and it shows you the kind of arrogance that beijing has, that they can exert that kind of influence over our c-suites and this is not just a one-off, maria. we've seen a pattern of this behavior. recall back in early 2020 the consulate in new york sent a state legislator in wisconsin a letter saying don't support taiwan. we've also seen instances where chinese diplomats have gone to governors and said say this or
we're going to withdraw investment from your state. so you've got a lot of risk layers here, maria. you have physical risk to your people because they don't value human life. you have financial risk because there is no rule of law. you have reputational risk because you're doing business in a place that's essentially a party state so you can't -- just because you're not doing business in xinjiang doesn't mean you're not supporting the chinese communist party because you are. it's a party state. you have multilayered risks here. you add on top of that an administration that is not exerting any kind of real pressure on the regime. i will say this, though, for the biden team. they have expanded the quad. that's good. you want to reach out to allies in the region. they are starting to cooperate with allies like australia on things like rare earth production. they are -- seem to be aware of the threat that we need to on-shore semiconductor
manufacturing, that's very, very good. but if you're sitting in new york and you're thinking, well, i'm going to go in because i have a great relationship in beijing, well, i would re-examine that assumption. maria: yeah. i mean, i don't know how nike doesn't get it, how the nba doesn't get it. ennes kanter had the occurring to call it out. we'll -- courage to call it out. american businesses want to sell to 1.4 billion people and they're ignoring all of this. real quick before you go, mary. russia, vladimir putin again building up troops and military forces near the border with ukraine. is there trouble to come here? your thoughts? >> well, putin first of all is very opportunistic. so when you see the eu having economic difficulties fighting amongst themselves, you have a britain that's distracted, you
have the united states with an inflation problem and weak foreign policy, that's typically when he tends to pounce. he loves to cree ate problems that he -- create problems that he pretends to solve like he did in syria. maria: great to see you. come back soon. thanks so much. >> thank you. maria: quick break and then retail earnings at the forefront this week. macy's stock soaring, check it up, now up 12 and-a-half percent. more on the retail story as companies gear up for black friday next week. back in a moment.
maria: welcome back. macy's shares are soaring in the premarket, this is the stock of the day, up almost 12%. it reported $5.4 billion in revenue last quarter, thats was above analyst expectations. macy's like others saying they were able to side step the supply chain snarls and stock up for the black friday and holiday season. joining me now, burt flickinger. your reaction to the macy's quarter. stock is on fire right now. >> stock's on fire, maria. macy's is one of four all-time highs in the premarket, macies', bj's, the companies with the most capable leaders, the best capitalized. the winners capitalize, like macy's is so well today.
maria: i mean, look, you've got all of these splits happening across the board in corporate america and we know that activist investor janet partners who took a stake in macy's is urging the department store chain to separate its e-commerce business from the traditional. burt, what's your take on this? you think macy's follows this split trend that we've been seeing from companies like johnson & johnson and general electric and does that release more value if in fact macy's were to do that? >> maria, it does release more value, as saks fifth avenue recently split off saks.com, gianna partners is one of the three most capable private equity firms along with kkr and arbor capital out of chicago. gianna is fantastic and retail and consumer products. this is the best for macy's shareholders. it's the seventh largest online
retailer by itself and macy's.com and macy's stores as well as bloomingdales led by argyle nelson will continue to do well for the foreseeable future. maria: let me bring in bob nardelli. go ahead, bob. bob: hey, burt. real quick. the administration's recommendation for the supply chain problem with all these containers at the port was shop early. which is great if the individuals have time and money. but as people on fixed income roll into december, what's your expectation? you made a comment earlier. i would think that december's retail is going to have some real bumps in it and there's going to be some real losers. your view on that, burt? >> bob, your prediction is very present. last friday in-store will be somewhat of a bust because people have been a term you know well, forward buying in august,
september, october for the black friday, christmas, kwanzaa holidays and december won't be a downdraft in he retail as you're forecasting so well because consumers will be tapped out on gas and groceries, higher heating bills will go in so the chains that offer quality and value, like macy's, like bj's wholesale club, like lowe's, like home depot will do well but the ones that pass along higher price increases will take the biggest dip down in december as you're saying so well. maria: all right. burt, we'll be watching all of that. great to check in with you as always, thank you, jury. sir. quick break and honoring our heroes, we've got the highlights from last night's patriot awards on fox nation, putting a spotlight on everyday americans. it's the hot topic buzz and it's next. ♪ ♪ ♪ ♪ ♪ ♪
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>> this is for the men and women who went into the breach at kabul international, when everything was falling apart, this is for the 13 that didn't come home. maria: that was lieutenant colonel scott mann at fox nation's third annual patriot's award last night, winning the heroism award. u.s. olympian also taking home an award, most valuable patriot for of showing such pride in our country after winning the gold medal. joe concha, bob nardelli with me this morning. joe, what did you think. joe: this is the kind of award show, maria, we should see more of. forget the emmy's, oscars and tonies, record low viewership because they've become overtly
political in one direction and insufferable. to honor everyday americans who are inspiring, trying to make communities better, saving lives, they deserve this kind of stage, this kind of a a dulation. we have to get an invite. let's talk to the you powers that be and we'll get there next year in our hollywood dresses and tuxedos. maria: you're right. i want to go next year. bob, what did you make of it? bob: i can't applaud fox and fox nation for putting on this program -- i can applaud fox and fox nation for putting on this program. i don't think we can recognize, appreciate and applaud all of their efforts and again what fox nation has done and what fox celebration is a real tribute and a credit to the entire organization there, maria, including you. maria: oh, thank you so much. you're right, i am so honored to
be able to salute these wonderful men and women. quick break and a then florida senator marco rubio is here on why he's putting a hold on the china and spain ambassador picks and if russia is helping cuba crack down on protests. a lot to talk about with the senator from florida. it all starts next hour on "mornings with maria," live on fox business. ♪ ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan.
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use the plan finder at medicare.gov to compare medicare health and prescription plans. comparing plans really pays. paid for by the u.s. department of health & human services maria: welcome back. good thursday morning. thanks for joining us. i'm maria bartiromo. it is thursday, november 18, where our top stories 8:00 a.m. on the button on the east coast, biden blame game continues president saying oil and gas companies are responsible for the rising prices at the pitcher biden nominee for comptroller of currency testifying saying she
wants oil and coal companies to go bankrupt watch. >> i want, the industry -- going to probably go bankrupt in -- in short order, and if it were to go bankrupt we want to -- ahead our nomination 9:00 a.m. on capitol hill market rallying more positive news out of retail, the dow jones industrial average right now off 20 points off best levels of the morning, the s&p 500 up 10 3/4 nasdaqi higher by 80 points we are still in record territory, for the s&p and nasdaq, yesterday stocks pulled back from record uncharted territory with dow and nasdaq and s&p 500 rattled by worries over inflation and mixed retail story european markets are also searching for direction, take a look fractional moves pretty much across the board eurozone dax
down onib asia overnight red across the board hong kong worst the hang seng index down one and a third percent "mornings with maria" is live right now. >> your morning mover the stock of the day macy's soaring alternative 1/4 percent beat earnings expectations with earnings revenue numbers retailer raised full year guidance same-store sales up better than 37%, at macy's victoria's secret ahead, earnings by the bet up better than 11% right now this is company first earnings release after breaking away from l brands, and the umbrella of that company, the bordered market doing well, and heels of all retail news dow industrials up 29 points this is off the best levels of the morning, macy's
soaring on board of trustees brett, particularly within numbers you see digital business was up 19% year over over, up 39% since 2019 company offer sales guidance for year kohl's upswing pretty good move as well announced going to buy become more than one billion dollars in stock that stock up 8 and two thursday% right now on kohl's, we are standing by for economic data the weekly jobless claims out half an hour's time, we will get the philadelphia federal reserve, it will release its index of manufacturing activity a window into manufacturing, joining me right now center square investment management chief he investment strategist scott crowe joining all morning long joe concha and bob nardelli great to see everybody scott thank you for joining the conversation, your thoughts, on the backdrop here with this big beat an macy's moves from retail this morning. >> -- retail is definitely
back particularly i guess fiscal retail, a lot of what seeing from real estate perspective, focuses on commercial real estate one thing we have seen tracking cell phone data is that foot traffic in even malls in this country is back to where it was pre-covid, and a lot of that releft ining the back relatively nonevent to company a lot of pent-up savings pent-up demand in the system, given stimulus that has been injected. >> is that back once federal reserve starts raising interest rates scott? look out for next year, i recognize, you've got a lot of pent-up demand even inflation spike is not cut into all that pent-up demand, but we know that on horizon there are headwinds coming our way federal reserve is expected to begin tapering campaign soon
and going to raise interest rates most beginning june of next year does that cut into growth. maria you are right, the bottom line going into next year we expect equity market, a strong consumer, also, the fact that interest rates are still going to be negative, below inflation for a while, even if fed starts moving, that being said as you point out, inflation is going to start driving the feds forward a little bit they have to start a addressing through tapering perhaps interest rates rises next year that means going to have more turbulent outlook as we hit 2022, probably -- more turbulence particularly around that interest rate. maria: what are your thoughts on important announcement we are going to get from biden on federal reserve chairman, likely next 24 hours, a horse
races going on will he reappoint jay powell replace jay powell with fed governor lael brainard what are you expecting what is back from your standpoint on investing. >> my money would be on powell i think biden administration stick with status quo seems working a very, very dovish fed and i a think that is good news for the markets if that happens if we actually move you know, sort of down the dovish spectrum i think what that could do is actually spike more inflation expectations and, again, pig risk to the market right now is level of the one yield if that gets out of control that is a significant correction in market. maria: do you think we see a correction if not powell? i know wall street betting on powell but there are quite a few say have told me lael i
brainard is going to be pick because that is is what progressives want what do you think will it impact if not powell. >> if you look how he reacted to more progressive base listens to them tends to play down middle i think powell is going to get reaffirmed i don't know if powell not getting reaffirmed would create a correction in markets what it does it helps to develop a mosaic of idea inflation being transitory not being accurate, and then he eventual if fed starts to taper begin to see movements in interest rates. maria: so scott, quick before you go, give your sense of investing today how are you he allocating capital you've got tundz opportunities identified. >> first going into a positive more turbulent environment 2022 looking for drivers as e-commerce as you noted a lot
of, result was driven by intent business e-commerce platform so e-commerce isn't going away going to drive returns with, pl.d. industrial warehouse drshgs around the world, also protecting against inflation one of the best ways to do that through apartments single family portfolios. >> thank you so much, as you see record highs for this market, now some other stories that we are watching this morning, the wide-open border front and center president biden to meet with canadian primetime justice din trudeau and memberscan president, that will happen this morning biden mexico or crossing into
america every day, the drug problem getting so bad that u.s. has now topped 100,000 o overdosed deaths in last year, that is first time that happened, in history, with fentanyl made in china pushed through mexico into america, the conversation with trudeau expected more about xl pipeline president biden shut down day one in office as well as electric vehicle tax credits for american-made cars. elsewhere jury to deliberate for a third day in the kyle rittenhouse trial day defense team making a move for mistrial saying they were not provided with same copy as the prosecution of drone footage, that was key in the prosecution's case more protests broke out last night, outside of the courthouse as city and national guard are bracing for potential unrest. after this verdict. is announced. >> a big storm may disrupt thanksgiving day planning
potentially central eastern portions united states warning as transportation security administration is expecting number of airline passengers to rebound return to pre pandemic levels for the holiday weekend 4.2 million americans expected to fly this thanksgiving, tsa assured ready for surge, much more ahead this morning pushed back on biden ambassador picks florida senator marco rubio here, joe will join me to weigh in on keeping woke learning out of the classroom los angeles auto show back we take you there this hour don't miss it you are watching "mornings with maria" live on fox business. . ♪♪ ♪ .
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after blaming media coverage of soaring nation a, on wealth people tweeting rich people are flipping out because their parasitic assets aren't doing wl they are scared unemployment benefits plus, checks, 15 dollar minimum wage, labor shortages, many are blasting this journalist for being out of touch with how most americans are impacted by economy, joe just so you understand bacon, okay. the price of bacon is up 20% year-over-year.
coffee up 5 to 6% baby food up 9% year-over-year i don't think rich are only ones buying those things what do you think? >> i think that is well, let's remember who is making the argument, sarah, who is only a former member "new york times" editorial board isn't a blogger in basement it is amazing auger mnt i believe klain said that jen psaki said that oh supply chain crisis, i guess people want treadmills for christmas not getting in time, all being mocked, when it is actually the opposite of that it is low and middle income folks can't easily absorb skyrocketing heating comforts up 50% winter or gas prices going through the roof, or inflation, at a 30-year high on just the things you named they buy every day that is sentiment at "new york times" a msnbc, one char named stephanie, argued that people
are saving because covid should be able to afford that easy in richest 1% to make that argument don't know what people feel because they are elitist live in a bubble you just don't get it maria: bob, increasingly feels like this administration and democrats have a tin ear when it comes to issues for you would think after what happened in new jersey, virginia let me pull back recognize, what is important to the american people, but no such reaction. >> you know maria reminds me when business is criticized about sending out powerpoint presentations. the administration sends out powerpoint presentations everybody minimum exseptember you none discretionary items gasoline over 50% i can't
think of a single other commodity than gas that affects everybody, from the entry level all the way to people that they are criticizing self afflicted by this administration you don't ask the for cup of sugar when you have 50 points on counter which a is what they kid they shut down fracking the pipeline, it doesn't take a nuclear scientist to figure out what you have done then you come back and investigate the energy companies for raising prices, what in the heck are we thinking about? it is just absurd. of. maria: right, first soccer moms now energy companies everybody else's fault, quick break then going to hear from florida senator marco rubio, he has a thought on that as well and also, why kremlin may be working with cuba coming up, l.a. auto show back cool
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check it out. ♪♪ ♪ . >> i am at l.a. auto show we are checking out ford f-150 lightening, chief engineer tell me about design process what is the new feature. >> zero to 60 in if -- >> a oh. >> enabled by extended range battery also can be used for customers, to be able to use backup power for homes basically a backup generator built into truck for commerce's homes keeping electrified for days on end. >>. >> you are telling me i can power home with this if rolling blackout in california. >> yes. >> definitely. >> tloo days comfortably up to 10. >> ♪♪ . another at auto show you congest to test ride some vehicles check out this f-150.
right? >> all right. let see what this baby can do. >> [laughter]. >> really does go, zero to quickly. ♪♪ . . all right. so i am here at ford checking out new bronco a lot of buzz here i am bringing in assistant manager to tell me about it. >> it goes over any terrain, i know you have a great -- here but over any terrain ultimate of a road vehicle was the original code name. >> there you have it, this can go over terrain.
>> consumers telling me they suffer from range anxiety when it comes to charging that a study shows 51% this is considering ev is too expensive for all touting that green energy is solution to rising gas prices that may be miles away pun intended maria. maria: exactly, kelly thanks very much kelly, first time i have seen that in vehicles like that an auto show like that before? >> not recently, of course, i am glad to see you atto shows are back, but look face it the administration, has a clear plan by shutting off drilling, fracking shutting down frack lines for gas prices up over 50%, to try to force consumers into thinking ev is solution but we just heard not available for a couple of
years. that is why we're seeing people that need new cars to trade up, are going into used cars, prices up 25%, so, again, we have this conundrum from administration trying to force us into green energy, ev vehicles not available a couple years gas prices up the consumer is going to be punished for this -- for this situation. really, really sad. maria: . >> i mean you make a great point, bob, because joe it is like ted cruz said over the weeks all intentional, they want to change the economy fundamentally so you heard earlier that video wants oil coal companies to go bankrupt the point, puts companies out of business so they categorize green plan forward doesn't matter if we are not seeing the acceptance from customers. >> omarova, don't get confused with ama rosa on apprentice,
omarova went to place called moscow state university you pretty much need to know that generator car thing you can start up then you get your power out you can hook your home basicallyto car i found that pure genius how could you get kelly's job may or may o not be irish i am checking into that beyond cool a difference from javits center in new york 20, 30 years ago with my dad. >> what is cool with car shows you have experienced this, technology. >> it is maria, again joe not to burst your bubble but real question we create this image that you are going to be able to power your house let's find out what the kilowatts available in that, what is the consuming relative to energy demand i doubt you keep house
going 10 days with that battery the tough second question some things touts out there today. maria: we will take a break the cofounder of palantir is here to take wokeness out of classroom where he sees investing opportunities as well. back in a moment. ♪♪ ♪♪ ♪ . oh nice. kevin, where are you? kevin?!?!? hey, what's going on? i'm right here! i was busy cashbacking for the holidays with chase freedom unlimited. i'm gonna cashback on a gingerbread house! oooh, it's got little people inside! and a snowglobe. oh, i wished i lived in there. you know i can't believe you lost another kevin. it's a holiday tradition! that it is! earn big time with chase freedom unlimited. how do you cashback? chase. make more of what's yours.
uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab. obrador. . . maria: welcome back, we are standing by for initialing jobless claims due any moment markets higher a wl off the highs of the morning dow industrials up 17, s&p up 10 and 1/2 nasdaq right now up about 80 points, the initial jobless claims expectation called for jobless claims on week 260,000 let's get to lauren simonetti with the numbers. lauren: okay the number of people filing for unemployment last week maria actually surprisingly rose to 268,000
we had expected that number to decline. to 260. if you look at continuing claims, these are all workers on unemployment, that was stronger than expected 2.08 million workers. . so a bit less than expected. . you know, we look at job market so many jobs that are open, right? and there is big demand for goods and services, the issue is that right now, employees are more willing to quit even if they want to keep them that is good gauge how fast returning to normal levels of unemployment claims, before this were probably 200, 220,000 a week so a little bit above normal levels. maria: agent yeah, the continuing jobless claims two million, and the initial jobless claims obviously, fractionally changing versus
estimate i wonder if this is having back impact doesn't look like ilt nasdaq 82 in the record territory sep and nasdaq lauren thank you so much we want to tell you about a new university dated to freedom of thought the academic diversity a group of writers entrepreneurs announcing creating their institute of higher learning university of austin joining me right now one of the cofounders of that university joe lonsdale managing partner 8vc, cofounded of talent thanks for being here first off, congratulations on your success, on identifying growth stories. tell us about the university of austin. >> thanks, maria, well, you know we've had a really amazing response in the last week announced it over 3300 professors, to join -- we need new institutions in our country, they are that are not kwon questionered by
neomarxists that are, open to freedom of thought, freedom, debate, we need to train leaders how to think. >> i am so glad you said all that you are right tell us how this university will be different give practical ideas how do you ensure, that we've got independent thinkers in schools. >> first of all you start with hiring thinkers faculty, used to be copy german model u.s. a hundred years ago different dependents last hundred years tenure departments control themselves got more and more insular more hyper specialized most big advances in science in america have been introduced, working between different groups so first of all keep university, teaching care about teaching not just research, and you know focus
on merit ideas to compete with very top colleges universities the principal of freedom of thought open debate being able on the stand for discuss what you believe without hundred down like a heretic, we think we can steal away some of the bright minds who want to be in places where freely now from top schools. >> that is exactly right, what do you do when mobs come after you joe you know they will trying to being no whole idea down, they want the woke teachings in there. >> they do, very there is a lot of people, a lot of -- want people right now last week, you know, it is this is one of those things we have to stand strong there is not enough courage in society not enough standing up saying this is right 2 way to do it, you know it is markets, others we seem to think more, things than we do we have to stop
listening to what a everyone else wants know ourselves what is right, and do it. maria: tell me about the he implementations of groupthink in you're thought because that is the thing, the media going along with these narratives not recognizing the threat as you've got real serious adversaries rising like china, which want to overtake united states as number one superpower. they are -- what we're seeing here. >> they are internal problems with group think external oil all cities around u.s. look how deposit programs dozens of job programs that are all failures federal government, and there is no open debate about things look frankly in defense world get another area of government top-down more broken than should be america has by far best defense in the
world, 20, 30 years ago we spend hundreds of billions a year in defense, meanwhile, china advancing quickly in these areas it is very scary china is a serious adversaries, to work on problemsr not my friends and i start palantir we are worried updates -- that china will get ahead a serious threat people have to be aware of. >> we are highlighting every day joe, the president meeting with leaders xi jinping, the virtual meeting, you have a panel of security economic experts recommending that u.s. start dialing back commercial ties with china what is the answer here in terms of dealing with a bully another defier that is invading other countries, stealing intellectual property, i mean
you having invented having founded here among others dealing with intellectual property theft firsthand. >> we are. a decade ago more involved, here china would have people trying to see what was going on, amazing what they were able to do silicon valley would be great student board in china you trust friends know what school was, then one day find stealing from you what's going on, all turns out the family in china threatened that is what they had to do the deposit uses against them you are a good person but they use them against them china has, you guys talk about this all the time premium seek out power and disappear no checks from power whatever else you say about u.s. part of free system kugz works checks on
power independent judiciary objectively better wise for kinz to work, objectively ways to have human rights, and improve human conditions check power and china has a dictator unchecked has leaders unchecked the whole world needs to be coordinating, to put pressure on them punish them for some of the things they are doing i think, you know, i think america should be workinging with al lives japan and india, germany uk our parts of the world putting pressure on them not preciousing pressuring enough. >> we are talking about policy to get arms around this i want your take on innovation today, joe, you have found vested in some of the best companies the biggest growth stories oculus sold to facebook, you've got anot to mention once on forbes
100 list tell us where you see growth within technology for a long time talking about three legging to the school being cloud computing retail social media. do you see more legs to the school? where is growth within tech being today? >> you know there has been a lot big question we always ask in technology for new companies building investing in what is possible now that wasn't possible a few years ago, last couple years i know tough for country a lot of ways, but a lot of real positives for how technology works because a lot of things helped here, logistics, driven into cloud all of a sudden data you can use to carry out make more efficient, explosion average venture capital firm up 80% over last year so much more adoption of all technologies, there is a renaissance going on, in terms of biology tons of new
companies gene they were, happening, keep functional outsiders the technology world solving so many problems greattime to be investing in technology. >> i agree, i want to see more money in investment towards mental illness this is an issue we have not studied vested enough i think biotech on the front lines of that, joe please come back soon great conversation, and best of luck with university of austin we will be watching. maria: thank you, maria. maria: joe lonsdale joining us a quick break high number of house democrats retiring what it could mean for republicans in midterms we are talking about florida senator marco rubio when we come back a home for sale owner for sale barking to the bank making a big buzz this morning we tell who live on "mornings with maria." ♪♪ ♪♪
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on medicare.gov now. open enrollment ends december 7th use the plan finder at medicare.gov to compare medicare health and prescription plans. comparing plans really pays. paid for by the u.s. department of health & human services . maria: welcome back. pushing back on biden he radical agenda including ambassador nominees florida senator marco rubio placing hold on the president's nominees for china, and for spain, the senator wants nicholas burns biden nominee for ambassador to china says has a career defined by failure to understand the
threat posed by chinese communist party. the rubio calling on biden nomination for ambassador to spain saying that person is a sympathizer apologist for the castro regime in cuba joining me senator himself florida senator intel intelligence committee vice chairman marco rubio great to see you. thanks very much for being here talking all morning about what is going on, with a number of biden's nominees, this morning, comptroller of currency nominee omarova in that hearing want to ask you about that first talk about ambassadorships tell me the problems in terms of both of these. . >> well he in case of mr. burns i will tell you not that heville or failed person he is part of failed china consensus thought china would get rich become like us we need people that clearly understand china is dpoe political competitor
potential adversary seek to over take us technologically in our economy military snashgs we needed our version of diplomacy not going to china to be invited to parties but very strong out remain over human rights' violations technology how they brought companies from access, things of this nature i don't believe he is going to do it i think this is wrong post wrong person for that post, then when it comes to one i mentioned about spain that is years she is a castro sympathizer apologist long career doing it i don't think show a be ambassador anywhere but much less to spain plays outsized role in western hemisphere when it comes to european xunz because of the long history there, and they continue to be one of the biggest defendeders in venezuela nick nicaragua other
places. >> i don't understand any of this, who is making these decisions? who is driving this agenda? you know i mean talking all morning about the fact that the ccp wants to overtake the united states, and as number one superpower, yet joe biden has a call with xi jinping other day never comes up, the fact they've been stealing intellectual property for decades, the fact he they have been covering up origins of covid won't mention origins of covid we know they covid it up all are circumstantial evidence approves to leak out of wuhan lab what is it going to take starts from top not even from competitor from leadership not related to china aggressiveness. >> if you want to talking about failed foreign policy orthodoxy, joe biden is walking living symbol of it i mean not only wrong, but running for a long time one of the guys went around xi jinping said good to see my old friend joe biden clearly
go back a long ways have a relationship of some kind let me add to that i think what is happening in agency my view people if that administration some i would say, view china as threat we need to confront others say china is a country want to do a deal with with do a deal on climate do a deal with them on whatever. and really pushing hard so trying to please, looks like both sides of that equation, and the results is kind of thing you are getting people saying look don't talk too much you about uighurs don't talk about hack they steal our information don't talk about threats to taiwan hurts our ability to do a deal on climate change, and i really think that is is what is happening there, and it is sort of shows you why we aren't making progress on these important things. maria: but it is working against america also, you know, i mean look we know ccp is doing human rights abuses theft of intellectual property, the invading of countries throwing freedom
fighters in jail in hong kong, wide-open border i saw your tweet senator biden secretly sent at least 78 inflates caring illegal immigrants to jackson florida last six months if not a secret trying to get in all illegals why not truth. >> they are doing it in darkness flight charter flights without reviving local authorities, and that is and that is the ones we know, by the way, that wasn't me saying that was with a a local media outlet down there found it and looked at last six months more flights than that probably still ongoing they haven't notified anyone they haven't talked to anyone about it if you told most i don't carry where you go if you asked owe can being you did you ever mean 7 ilz in your city the
answer would be no donely unpopular from san francisco anywhere in deep south that is what they are doing for all people prepared to fire pilots, prepared to fire national guard, soldiers that are noting vaccinated how many migrants before they drop them off did they vaccinate i guarantee the number zero. >> tshl your state is soaring because of the freedom and liberties in florida. what is the impact though of cuba a press conference following another round of protests in cuba you said cuba redeem working with putin advisers to launch informational warfare. >> telomere. >> cuban regime very good repression one thing they to very well don't know how to manage economy how to provide for people but know how to put down protests what they did he mobilized you think about it army angry mobs communists to sort of harass go after twists these twistsdz are intellectual potts artists not a guerrilla gripe i think they
failed what they did they revealed in their reaction they proved critics right my question is day when president biden meets talks obrador in mexico how can you keefe a regime does this kind of things, i wish more diplomatic pressure on that front i wish this administration would make a brighter to do what i call forward with bills call for amendment i passed in senate calls for, that is providing intent inside of cuba keep places key moment would have been great full unfettered subcommittees on monday when protests were supposed to be happening people could talk to each other send images about repression with all that they did but would have better with capability not a priority for the administration populated by people frankly sympathize request regime left elemental.
>> in terms of not investing in chinese companies tied to chinese military quick before you go, isn't going to get "build back better" agenda passed. >> i don't know what is going to happen in house it is socialism would codify number dollars a lot big problem not just money it is what it does they will take over pre-k in america you will not see churches able to be able provide prek, teach religion tip of iceberg a terrible bill i will do everything i can to stop it, it will be -- devastating for our country. maria: senator great to have you this morning please come back soon senator marco rubio in d.c. we'll be right back. .
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we wait for the cbo score on president biden's "build back better" agenda then race to get christmas presents under tree in time ceo one u.s. toy company explains impact of the supply chain crisis on his business, what is available what isn't, all starts tomorrow right here "mornings with maria" is live 6 to 9 a.m. eastern stay with us up next 8:30 million dollar mansion on the market you won't believe who is selling it now. after the break. . orld. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage.
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♪♪it's a most unusual sky♪♪ ♪♪not a sign of a cloud passing by♪♪ ♪♪if my heart won't behave in the usual way♪♪ experience the power of sanctuary at the lincoln wish list event. ♪♪ maria: time for the big buzz of the morning. well, a miami mansion is on sale for nearly $32 million. but negotiating the price down the may be tough since it is owned by one patch perked -- pampered puppy. yes, the latest in a line of german shepards who inherited
this massive fortune, and now the german shepard is selling it, joe. your thoughts. >> it's amazing. that's my plan, maria. i'm going to leave my savings to maximus, my dog and give the 8ing-track collection to the kids. man -- [laughter] this is max, by the way, five months old, new a addition to the family and very tired right now. maria: oh, love that. dusty would love that too. good to see you, bob nardelli, joe concha, thank you very much. "varney & co." begins right now. stu, take it away. stuart: well, the dog show is over, good morning, maria, and good morning everyone. [laughter] let's get serious. a mounting chorus of criticism for the president, and it's coming from his own party. and it's coming from the democrat bible, that is "the new york times." if the democrat loses the times, that democrat has a big problem. quote: i warned the democrats about inflation, writes steven rattner. how could