tv Mornings With Maria Bartiromo FOX Business July 14, 2015 6:00am-9:01am EDT
we will bring you up the numbers as soon as they are out and watching stocks trade as well. a chinese state chipmaker has prepared $23 billion offer for micron. the deal will be the largest chinese takeover of an american company yet. breaking news on our top story this morning. i ran a six world powers reaching historic nuclear deal. blake burdened with all the details in washington. reporter: hi, maria. good morning to you as well. the deal ranging from details to lengthy. president obama and john kerry will sell off some of the highlights throughout the morning. john kerry coming minutes. we believe the president is expected to speak an hour from now. associated press says the deal will allow u.n. inspectors to
press for visits to iranian military site is part matter of their duties. being granted access is not necessarily guarantee and could also be delayed. iran also has the ability to challenge the request. certainly a departure from iran's previous declaration that iaea inspect yours would never be allowed in for inspection. we will also see how this is viewed in iran. the country's president hasan rouhani tweet said he will soon address his nation. iran's top negotiator quoted as calling this an unnecessary crisis but also in historic moment. it is important to point out why the negotiations have come to an end. this is just the beginning on capitol hill because congress will have a 60 day review period. that starts soon. >> exactly. thank you much. joining us now is fox news
national security analyst casey mcfarland. thank you for joining us. >> you don't know what the details are. a lot of rumors around. this is our red line, that's a red line and they were quite far apart. but i will look for is three things. what are the terms of the inspections? anytime anyplace is what we want. anywhere and i ban come anytime with no notice. with the iranians go along for what they say you can calm but only when we tell you and go wanted to these places we tell you. they cheated in the past. anytime anyplace, we will see. what is going to be taking off under what terms. a lot of different sanctions for a lot of different reasons. the world's number one sponsor of terrorism worldwide. a nuclear program.
while the sanctions be laughed off on every issue or will it be incremental based on iran's performance. >> they have to do a deal by her state otherwise it would have been blocked within congress. they would've taken a 30 day period to look at it. give us your sense of approval. is this a done deal? >> as it has to come out. the details of oregon in the weeds will be important or congress because it basically means is this an ironclad deal they will abide by or a deal everyone can cheat on and how easy will it be to achieve. congress will have to look at this. they will look at the sanctions. everything included. they supported terrorism against american forces. it's their behavior going to change? a lot of writing on sanctions.
sandra: is any deal a bad deal when it comes to our most critical allies? is there an atl -- >> yes. a deal that would have been a good deal is a soft the nuclear program in exchange for the sanctions on the nuclear program. that is not the deal were gaining. the question will be not even so much but as so much but as congressman, what do we think, is that all the other countries in the region didn't. from our perspective the u.s. in the u.s. on the issue was the nuclear arms race in the middle east. if iran gets nukes in saudi gets nukes in egypt gets nukes, remember, they don't have to develop. they can buy from pakistan. we have seen in the last two years those countries could be overthrown overnight. we don't know whose hands they are in. if you get them in the hands of
crazy people who want to use them. i'm a nuclear weapons expert. the nightmare scenario has always been nuclear weapons in the hands of crazy people who want to use them. we have seen what i says they want to use them. they don't care if they die. train to the sanctions being lifted means iranian impact on the market. the mac you are starting to see mark is expecting we are oversupplied between one and 2 million barrels per day. prior to sanctions, iran is exporting 2.2 million barrels a day. now down to less than 1 million. the extra million comes back to the market with additional supply and opens up the possibility if you see of lifting sanctions on the iranian oil industry and they can start to ramp up production the expert number of male macro over time. what is happening is that pushes oil to the lower end of the range are seen in the past three to four months. >> .the key question is how fast
do we expect sanctions to be lifted? a good question for nuclear experts. the preliminary agreement calls for reduction in nuclear centrifuges by or. talking about 12,000 to 13,000 centrifuges at debate it out. how long does that take? >> the question with regard to oil in two decades probably have oil at sea right now because where is it delivered. the deal says in the iranian oil can be sold, all the oil is slow to run somewhere and go on the market the day after tomorrow. what you talk about his investment over time and everybody's fine enough to do it. international law firm sent out messages of memos required to do all of their international clients to do business.
apple computer know she negotiating with tehran. when and if it happens, all the companies and countries that want to do business. >> we don't know. that is overlooking that. apple wants to sell them computers. >> i was a sticking point in the deal. how long is the arms embargo in place because china and russia want to sell arms for iran and iran is the buyer per month. >> and is very float through. another term of video, how long do any embargoes have been to sell to iran? we know the russians had just been chummy chummy with the russian lake. putin and rouhani. the russians will be first in the because they want to sell weapons to iran. first of all they look for new customers.
second is the point you made. oil prices are low. if you are russia, what do you have? oil prices, natural gas, low prices. iran is the perfect weapons market for them. those are the only things that one of the first two russians will be desperate for hard currency and they will launch their weapons. >> you mention this is by no means a done deal. more continue to look at the probability of what gets through. now it gets tied up with an election cycle. how should we think about discount is that mr. congress? >> is a couple key people, republicans in the senate. senator kirk has been a critical member and senator mendes. democrats in new jersey have been skeptical and critical. if they say this is a deal then i think it is a deal that happens. maria: what do you think?
>> it could go either way. have we given everything so you could have occasional inspections. maria: that is how i feel. if i had kids start smoking marijuana, i want to know what is in the school lunches. i do wonder how they can say to me wait a minute, you can come in and an hour in check. that is the deal we want with iran. anytime, anyplace. maria: so it is a 10 year deal. 10 years from now to be dead in iran or the hardliners are out of power? that seems to be the case. >> in the administration's mind they think 10 years would be enough time for hardliners to die off. you don't know. you don't know will it be so empowered that they double down
on support of terrorism, regional expansion or will they all decide we will be like the younger generation. we want isos. take the headscarves off. maria: what a landmark story. >> this will change history one way or another, good or bad. in neither has the new core arms race -- maria: thank you for your time. we will see you next hour. another sob story of a journalist morning. and embrace a bailout for grades come in europe's most important bilateral ship between germany and france was put to its most serious test in years during negotiations. germany's finance minister no longer trust athens both parents as finance minister says they are taking huge risks and it's time to start having confidence. a lot of trust between greece and creditors was lost. that is the one to angela merkel says is the most important current laws and that is
stressed to administer it take and where we are right now in the eurozone? >> clearly the government came and and took a very aggressive line with the creditors. at this point in time there is a shift in the popular belief. a key thing for angela merkel and showed a majority of germans to exit the euro. that change the political calculation and enabled or encouraged a much tougher line. greece has their back against the wall because the reality is the greek banking system will be unable to function without aid from the creditors. greece will not remain on the euro and not on its present form. >> it's amazing we talk about whether gray stays in the euro. >> the market is clearly liked the fact that greece stays in
the euro. the markets celebrate the fact it has diminished. there is one single word than in retrospect seems the eurozone in 2012. that the euro is irreversible. that was the statement. what happened when griese led the eurozone? that is still the case, so the promise. trade cute even though a lot of people felt once griese laughed it would not impact the arizona must they had a domino effect. only 2% of gdp. >> to make things clear, it is right the great things are isolated from the rest of the eurozone. it's right there had been fireballs but in place, but still the fact it is one country can leave because essentially germany doesn't want to be there, what happens to spain and portugal. dagen: be careful what you wish
for that is put on the sidelines for now we can focus on other things around the world in terms of china, whether it's what's going on in her economy. >> that's exactly what will happen. whether it's greece or china, it has become much more pervasive the last few months. we will focus on learning and neither of which may be a supportive for stock sites we like. right now a multiple expansion will be critical. >> janet yellen speaks before the senate banking committee end of the on wednesday. the fed and yellen terms of moving markets. mexico authorities offered a reward for the drug lord who escaped prison. $4 million for any information leading to his capture.
a big win for todd frazier at the home run derby last night. he wakes up as the hometown here in cincinnati, first to win the contest since 1990. stay with us on "mornings with maria." back in a moment. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?
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today. the nikkei composite snapped a winning streak down 1.2%. ranking shares despite positive finding data. hong kong stocks also from china. the hang seng down four tenths of 1%. investors nervous about the situation in greece and tsipras try to pass austerity in the agreement through his parliament moving to tokyo, japanese shares the only ones landing in green. the nikkei up 1.5% thanks to a solid japanese corporate earnings data and in south korea, the kospi headache choppy training day attending about one 10th of 1%. the electronics underperformed the broader market. maria: thank you so much. tracey chang. "the wall street journal" reported "wall street journal" reporting "the wall street journal" reporting that you cited $23 billion, $21 a share.
19% premium over yesterday's price is 1761. if successful, visited the largest chinese takeover of the u.s. company. lots going on whether it's volatility in the market with this. what are your thoughts on china? >> china is in a strange place because the market is melting down. as tracey mentioned from the lending data came came out on top of the x i.t. should understand with the trade data as well. the equity market will translate to an economic slump which is key to europe, key to the united states and everything. i don't think that day. i don't think that is what is happening. there has been a liquidity crunch in china in june. now that it's no longer the case of chinese government is still pressing on every single lever they have to stabilize the economy. we will see that data in the second half. maria: we look at the gdp out of
china this week. this'll be closely watched because of news in the market. >> the investment cover retail sales throughout hopefully all of them cooperate the story that they knew expert orders in the second half. we just might be that because when you think about the holiday season and i know it's too early, but the orders have been. the orders happen in august, said that maybe it moved to the chinese economy. >> a couple things to keep in mind. the chinese equity market is much smaller in the u.s. not as large as a component of personal wealth. after is a market bubble burst in 2000 we had a very mild recession. the transition mechanism for real estate to the real economy is typically much greater than the transmission mechanism particularly for a developing country like china.
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maria: welcome back. the settlement to eric garner. good morning to you. >> good morning, maria. the city of new york has reached a settlement over the wrongful death claim. the family will receive $5.9 million. the 43-year-old died during an arrest a year ago in staten island after being accused of selling untaxed cigarettes. officer used a choke hold prohibited by the police
department. $3.8 million reported in the word for any information leading to the capture of joaquin el chapo groomsmen. he escaped through a mile-long tunnel that led directly to an abandoned house. u.s. officials wanted him extradited here due to concerns you at escaped prison as he did in 2001. a motion was never filed a protest in the hamptons. 250 people calling themselves the hedge clippers protesting outside hedge fund honcho daniel loeb who hosted a fundraiser for the new york governor andrew cuomo had to do with inequality. @sql inequality with the banner. maria: they took a bus from new york city to be sent in to protest because he was doing a fundraiser for cuomo. is there a real reason to a re? >> it seems like the group also believe they may see more
attention paid to public school children rather than cuomo. maria: we haven't really seen occupy wall street much anymore. >> the narrative hasn't changed. maria: i want to know what they do with hillary clinton because her biggest contributors since late 1999 were the biggest wall street banks. >> the election starts to ramp up. this'll be one of the key themes. inequality, and what to do about it. >> has been addressed by a lot of candidates already. the real specific policies so far but it will be an important topic of conversation. >> hillary clinton yesterday made the point exactly that income inequality is rampant and if you look at inflation-adjusted income today than median income is $52,000 in a 50% of american excess of
$52,000. you matters worse that compares to $55,000.10 years ago. you are right. that is the issue. dagen: are they going to show up at hillary fundraisers? will we have protesters busting themselves is what i want to know. >> there is a debate about how far left hillary will go and how far right candidates will go on issues that had everything to do with wage growth. >> one of the things that often gets lost in the discussion if you look at stagnation and middle income wages at family level goes back to the 90s for working age men this goes back to the 1970s. this is not the aftermath of the crisis. this technology, product dignity. maria: how much of a focus will wages be in janet yellen's
testimony? >> this would be a big issue. we are printing 250,000 jobs each month. what hasn't necessarily come along as you would expect has been wage growth. there's anecdotal evidence but not the extent you'd expect given how much job creation has accelerated. >> you have more people in part-time jobs, or on-demand economy. so it will certainly be a hot debate, especially if they try to raise money. maria: tech companies build jobs. that's one of our slogans. but again, one of the biggest contributors is wall street. she goes after them and they keep giving her money. will that continue? >> the wages wednesday and thursday, anything priced into the market already we should
expect when and thursday? >> if you look at the two-year note, yes they're basically back where they started. we have pushed back the date of an initial hype. >> i don't know if i agree with that. we are actually seen some pressures of wage inflation picking up. there is some structural issues. hillary clinton will not make the point. the structural issue is you do have the baby boomer generation, people 55 years of age and approaching 65 are the people who control the greatest wage potential. that's the highest accumulation, the people exiting labor force. they may be taking wage growth with them. the second this technology. the third thing is the cyclical under important are unemployment and that is diminishing. if we look at wages not from the payroll survey, but employment costs are they they are
absolutely picky now. i would expect some of those points that they are improving. >> i think the word after last week's mention from janet said saturday she will raise rates this year and that is what we are waiting to get the confirmation. take a short break or the crowded republican field gets one more name. how hillary clinton is expected to respond. we are back in a moment. stay with us. >> we are happy to have you with us as we announced that we are running to serve as your president of the united states of america. [cheers and applause]
white house. we just learned secretary kerry will speak from vienna after the president is finished. we'll bring you both speeches live when they happen. scott walker becoming the 15th republican nominee. hillary clinton taken tough stance against units in his state. dagen, does walker's announcement change the discussion? how can he separate himself from the field? >> he has nice platform. public union and education. he will need to build up foreign policy credentials there. hillary clinton did not call out uber by name but clearly going after that part of the technology industry. maria: what did she say. >> going after the gig economy. that clearly what technology does improves our lives.
changing certainly the work place with uber and taxi drivers and limo companies. airbnb changes travel. maria: talking to one of the big supporters from the private equity industry one thing we're advising hillary to do make sure she is appears knowledgeable about the modern economy. will the other 15 leaders within the gop be able to do that and do you think that is going to resonate with people. >> that is a key point. the world has changed. rise of asset-like companies. different case than 20 years ago. this needs to be incorporated into an economic platform and if it's not. if you have a level of economic i will literal sy that will be a problem. >> that is the point she made yesterday, airbnbs, ubers of the world are part of modern economy. they're not going away by any stretch of the imagination. according to her this is not
only way to solve lower wage growth we have. the other way she proposed to solve for that, higher minimum wage and overtime pay. maria: we heard that before. earnings kicking off this week for the banks. jpmorgan set to report. nicole petallides with a preview what we expect for second quarter. nic, over to you. >> thank you, maria. we look for alcoa to kick off earnings season not so much anymore. jpmorgan, biggest dow component, biggest u.s. bank of assets. expected to post earnings per share of $1.44 in the second quarter. lower income driven by mortgage banking. revenue of $24.49 billion for the quarter. look at wells fargo. the largest u.s. mortgage lender expected to earn $1.03 a share.
that is higher year-over-year. an increase from the year before. as we look at these earnings we'll look not only at the numbers but also within the earnings. we'll look for fines. we'll look for regulations. we look for, we talked about the jpmorgan layoffs. we'll see if there is any update on that, especially for wells fargo. mortgage lending, obviously the biggest mortgage lender. those are some things we look for. maria: guidance is critical for the banks. >> i think guidance and key line item i look for what is happening with loan growth. one of the reasons why some big financial corporations are seeing year-over-year earnings that are down because m&a, even though very strong the first quarter is down slightly year-over-year. those are the expectations. you had fixed income trading exceptionally strong in the first quarter. it is just weaker in the second quarter. so those are main detractors. i think strength you see for the big banks and regional banks is loan growth.
loan growth is up 1.3% quarter to date. you seeing that in cars. seeing it in credit cards. maria: such an economic indicator loan growth for sure. meanwhile you have these stocks that have been running this year in a couple of, two months prior to where we are right now, the bank stocks have done well. what is priced into the market at this point? >> i think there is room to run for bank stocks. you expected some improvement in the credit environment. other key thing banks need to demonstrate what is happening to net interest margins. this has been a very tough rate environment for banks to earn money with the position of short-term rates. if we get environment where fed lits rates, paradoxically that will live rates. maria: they need the fed to lift rates. >> this is another catalyst for that sector of the market investors want to watch. maria: earnings are expected to be down 4.3%. the second quarter does not look to be that much stronger than we saw in the first quarter. do you think the numbers will beat lowered expectations i
think is the question? >> i think numbers will beat. one of the most important, we spoke about wage growth a moment ago, companies have done well in slow growth environment keeping margins at record high. if we go into environment with modest acceleration of wage growth, if we have higher rates, cost of capital, cost of labor is going up, can companies maintain sky-high margins. >> i think answer is no. for the same reason we don't have the same expectations for the broader market we did last year for example. as far as how much room to run between now and year end it is probably some as good as earnings will be for the year. that is supposed to be up for entire year. not looking for that much upside. maria: we're waiting for capital spending that didn't materialize and only worsened after the oil sector broke down. >> last year it was fits an starts.
last year was pretty good year for cap-ex. you're right, this year we're looking for a slump. where investors need to go is residential and non-residential infrastructure spending in terms of fed story and capital story how do you allocate capital right now? >> you have overweight to international developed markets. maria: talking japan and europe. >> japanned europe. particularly japan. tailwind of accommodative monetary policy. you have easier comparables particularly on europe on margins. >> stop putting money in bond funds. look out what outflow does. >> perhaps which bond funds, right? i think that is key difference. the reality we can not avoid fixed income investments in our portfolio. when i think about what investors need out of fixed income they want safety. >> they have been overallocating to bonds an international. >> international i don't know if i agree with that. people have done well with home
country bias and s&p 500 and domestic bond fund. last five years you have done well. i don't know if you do as well next five years. maria: allocates capital in the face of all of this? >> i think you want to be in u.s. equities but want to be in them selectively. you want to pick spots in the market tied to the u.s. consumer theme and tied to the u.s. technology theme. internationally i agree with russ. maria: coming up micron shares soaring on reports that a chinese company is acquiring the chipmaker for $23 billion. the offer is out according to "the wall street journal" we're awaiting micron technologies to confirm. they say so far no deal has occurred. we'll look at the m&a landscape next. ♪
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maria: we want to show you this picture, a live shot in vienna. the negotiators on stage right now. we're awaiting to hear from president obama and then secretary of state john kerry on this historic deal apparently that has been received between iran and six world powers. we will take you back there live to vienna once the activity begins. reported $23 billion chinese bid for u.s. chipmaker, micron technology, could turn into latest megadeal in busy year for m&a.
new report will find first half of 2015 is strong but section half will be better. rich great to have you on the show today. >> great to be back. maria: all this deal-making we've been seeing, record year, health care, technology, micron now we're looking at latest here, is this the result of rock bottom interest rates? >> i think a contributing factor for sure. we're looking historic lows in the cost of capital. those dice likely coming to an end. function of variety of factors. we're in the best economy despite fragility of growth since 2008. that is giving investors more confidence. record deal, record deal value transaction. we're over a trillion dollars in deals. volume is down a little bit. real story is value per deals. shows confidence in the "c" suite to make acquisition. there is a lot of pressure from shareholders and others to create value. top-line growth is tough to get. maria: top-line growth is hard to get. when you're in a slow growth world, what do you do?
you acquire growth. >> you acquire growth and stock market hats been rewarding buyers for doing deals. stock price up 2% after acquisition. different from two years ago with dilution by the buyer. there is a lot of opportunity to get scale in the deals and drive out costs in industry not growing. >> we talked before about the cap-ex particularly within energy is disappointing. flip side is m&a boom and buyout boom. at what point do you think pressure shifts back towards investment and away from m&a and financial engineering? >> i still think we have a little room to go with m&a. we're halfway through the game. there are attractive pricing. europe, deals outside of the united states not just because of currency but slowing growth in those markets brought valuations down to attractive level. some. actions by ecb will yield better growth in europe the second half of the year which will be good
for u.s. and international companies because they will get more out of the marketplace. i think valuations out of europe are good right now. emerging market economies which had a tough time, valuations in the deals are good right now. expect companies to transexact more across-border next six to 12 months. >> how much of getting deals done this year is driven by presidential election year? you just don't know who will be in the white house in a year? they have to look at that. >> i think they think about geopolitics rather than local politics. another building block of confidence restrained m&a market. i don't think they look too much at politics how they frame their corporate strategy and structure to go forward. maria: what do you think the sectors in the second half of the year that will see the most consolidation? >> i think we're on a role in life sciences. health care, expect that to continue. supreme court made affordable care act even more certain today
the pressure to grow this that industry, another industry that hadn't had top-line growth. the opportunities with tax restructuring and getting costs out. market is rewarding the industry for focus. get out of things that don't make money. get focused on one or two things. be number one and number two in core market. energy comes back to scale. oil at the bottom is good time to buy. maria: is there a particular sector within energy we look for consolidation? midstream, smaller producers getting acquired. what do you do with that? >> does the iran deal change that, given more oil on the market. >> more oil and pressure from consolidation. >> clearly some distress. clearly with the explanation pay too much for assets with cost of extraction. look of demand. hedges are rolling off second half of the year. protections aren't there. i think you will see something
there. midstream companies have to diversify. there are opportunities for scale in those businesses as well. i would say oil might be near the bottom. some might look at that as time to buy. private equity likes price of oil. masters at buying in the cycle. iran probably add as million barrels a day. couple years to get there. futures are up a little bit. not a long-term factor i think. maria: what does your gut tell you about the chinese company acquiring micron? us did the deal happen? dagen made at point this will be hard to go through. >> you have a regulatory impact. last big independent company out there. maria: cypress did a deal recently. whole industry. >> look at relationships with the united states and china particularly on issues of technology influenced by whole sigher thing i think tough to get it done. maria: thanks for coming on. very much jenna rhett. ey. we're following breaking news.
maria: welcome back. as we have been reporting we have breaking news this morning. we're awaiting comment from president obama and secretary of state john kerry on the new iranian nuclear deal. president obama is expected to speak at 7:00 a.m. eastern time from the white house. we also have learned secretary kerry will speak right after the president speaks. he will be live in vienna. we'll bring you live with all that coming up in just a few minutes. we'll look how the nuclear deal is affecting oil prices. looking at big decline in price of oil on expectation a million
barrels a day will resume on market from iran. in terms of equity lookses like fairly flat opening. take a look. mixed opening for futures on heels of mixed performances in europe and asia as well. one winner overnight in asia was japan which saw pretty good rally although weakness elsewhere. i am with russ koesterich today and anastasia amoros and dagen mcdowell. in terms of president speaking at 7:00. we'll go to the president live when he speaks. any other investments for investors today. >> we talked about the president's speech will clarify how much sanctions will be lifted that will be important for the oil markets. the other factor we can't forget about. opec revised expectations for world oil demand. if that is the case, maybe the scales are not just going to be that much more tipped in favor of supply.
if demand picks up. oil prices could find a pot here. >> i would be more concerned about oil. not because i disagree with the demand comment there is a supply problem. not just about iran. you have saudi arabia pumping more. iraqi production is up half a million barrels. maria: how about the u.s. and shale revolution. >> not call it a problem. call it a bonanza for consumers. >> if you're long oil. issue is even with a 50 plus percent drop in the rig count we're producing half a million more barrels a day then we were back in late 2014. that is a lot of supply for the market. >> inflation pressures on consumers in particular. that you have to the between now and holiday shopping season. maria: let's go back to an oil prices first drop. 50%. year-over-year. we all thought that would be positive for the consumer. by the way, what did it mean? it meant cap-ex cuts and rigs shut down and job cuts as well. i don't want to overestimate a
drop in oil prices really means. >> we have immediate negative effect in cut in cap-ex. >> consumer sector delivers earning. maria: great to have you both on show. anastasia. russ koesterich. jpmorgan. we'll see you soon. back live from vienna. hi my name is tom. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here.
trend two good morning everybody. happy tuesday. it is tuesday, july 14th. what a president obama statement on the iran nuclear deal. kelley wells management partner julio kelley. fbn anchor sandra smith and politics editor jackie kucinich. we'll get to everybody in the moment. braking is at the moment. and iran nuclear deal has been reached. a decade as a diplomatic efforts and test negotiations enforce deadlines to keep getting pushed back.
details include iran limited nuclear capabilities for more than 10 years in exchange for lifting of oil and economic sanctions. iran's foreign minister calls it a win-win solution and a new chapter of hope. president obama expect you to speak momentarily. an immediate impact on the price of oil this morning. prices dennis sanctions lifted into an increase of oil supply to the tune of a million or a million and a half barrels a day. futures this morning expecting to make showing and for the broader averages. we are looking at some money moving into japanese stocks. overnight japan the big winner. pentagon official and national security analyst kt mcfarland. we are waiting on john kerry. give us your take on this iranian deal. >> we don't know the details yet, but here's what i'm watching for it. sanctions through the air blow it all come on day one and what the sanctions beyond the
sanctions we never put on iran. the sanctions against iran for the nuclear program. sanctions 10 years ago because the support for terrorism. if we take all the sanctions off and all they are doing it admitting their nuclear program but what about the other things. does that mean a lot more money for iran to support the terrorist activities not prohibited. that made them have a look for is inspection. we have asked for anytime, anyplace inspection. we show up, you will in your doors, including military and deletion. that's been a sticking point. iran has always said we will manage those inspection and maybe not on any military installations anyway. i am looking to see what it means for both of those things. will sanctions be lifted immediately or over time by two iranian behavior. secondly, will inspections be about anyplace, anytime.
maria: what changed over the last 48 hours or so. we will get back to you because you want to hear from president obama on this landmark deal. >> after two years of negotiations, it the united states with international partners has achieved something that decades of animosity has not appeared a comprehensive long-term deal with iran that will prevent it from the team in a nuclear weapon. this demonstrates american diplomacy can bring real and meaningful change, change that makes our country in the world safer and more secure. the deal is also in line with a tradition of american leadership it is now more than 50 years since president kennedy stood before the american people and said let us never negotiate out of fear, let us never fear to negotiate. he was speaking than about the need for discussions with the united states and soviet union which led to efforts to restrict
the spread of nuclear weapons. in those days the risk is a catastrophic nuclear war between two superpowers. in our time the risk is nuclear weapons will spread to more and more countries particularly in the middle east. the most volatile region in our world. today because america negotiated from a position of strength in principle, we stop the spread of nuclear weapons in this region. because of this deal the international community will be able to verify the islamic republic of iran will not develop a. this deal makes everyone at the bottom line is we establish when we achieve a framework earlier this spring. every pathway to nuclear weapon is cut off in inspection and transparency machine necessary to verify the object to all be put in place.
because of the deal, iran will not produce enriched uranium and plutonium that form the raw materials necessary for a nuclear bomb. because of the deal, iran will move to thursday at a centrifuge to produce highly enriched ukrainian for a bomb and store them under constant international supervision. iran will not use centrifuges to produce uranium for the next decade. iran will get rid of 90% of its stockpile of enriched uranium. iran currently has a stockpile produce up to 10 nuclear weapons. because of this still the stockpile will be reduced to a fraction of what would be required for a single weapon. the stockpile limitation the last 15 years. because of the deal i ramble modify the core of its reactor in iraq so it will not produce weapons grade plutonium and has
agreed feel that if their reactor for the lifetime of the reactor for at least the next 15 years iran will not build any nuclear reactors. because of the deal, we will for the first time in a position to verify all these commitment. that means the deal is not built on trust. it is built on verification. inspectors will have access to key nuclear facilities. iran will have access to the entire nuclear supply chain, conversion facility and centrifuge manufacturing facilities. this ensures iran will not divert materials from known facilities took over one's. some of these will be in place for 25 years. inspectors will also be able to
access in a suspicious location. the simply the organization responsible for in specs, the iaea, will have access where necessary when necessary. that arrangement is permanent. the iaea has reached an agreement with iran to get access that it needs to complete its investigation into the possible military dimensions of iran's past nuclear research. iran is prohibited from first doing a nuclear weapon under the non-proliferation treaty which provide a basis for the community efforts to apply pressure on iran. as iran takes steps to implement the deal, you will receive relief from the sanctions we put in place because of iran's nuclear program. america's own sanctions and sanctions imposed by the united nations security council. they're really for the phase 10. iran must complete nuclear steps before it begins to receive the
sanctions relief over the course of the next decade, iran must abide by the deal before additional sanctions are lifted including fighters for restrictions related to arms in eight years related to ballistic missiles. all of this will be memorialized in doors and a new united nations resolution and if iran violates the deal, on the sanctions will snap back into place. there is a clear incentive to follow through very real consequences for a violation. that is the deal. it has the full backing of the international community. congress will have an opportunity to review the details my administration provides briefings on how this will move forward. as the american people in congress to read the deal that will be to consider the
alternative, what happens in a world without this deal gave it that the deal there is no scenario for the roadshow in place and sanctioning iran until it completely dismantled the nuclear program. nothing we know suggests it was simply capitulate under that pressure in the world would not support an effort to permanently sanction iran into submission. but the sanctions in place to get a diplomatic resolution and that is what we've done. without the deal, there would be no agreed-upon limitation for the iranian nuclear program. iran could produce, operating customer centrifuges. iran could feel every act are capable of producing plutonium for a bomb and we would not have inspections that allows to detect a covert nuclear weapons program. in other words, no deal means no constraint on the nuclear program. such a scenario with ticket are
likely that other countries would feel compelled to pursue their nuclear programs, threatening the nuclear arms race in the most volatile region of the world. it would also present the united states has fewer i must affect adoptions to prevent iran from obtaining a nuclear weapon. i'd been president and commander-in-chief for over six years now. time and again to face decisions about whether or not to use military force. it's the greatest decision any president has to make. many times in multiple countries i decided to use force and will never hesitate to do so when international security interests. i strongly believe our national security interest now depends upon preventing iran from obtaining a nuclear weapon which means about a diplomatic resolution, either i or a future u.s. president would face a
decision about whether to allow iran to obtain a nuclear weapon or whether to use our military to stop it. put simply ,-com,-com ma no deal means a greater chance of more war in the middle east. moreover we get nothing up by testing whether the problem can be solved peacefully. if in the worst-case scenario iran violates the deal, the same option available to me today will be available to any u.s. president in the future. i have no doubt 10 or 15 years from now the person who holds this office will be in a far stronger position with iran further away from the weapon and inspections and transparency that allow us to monitor the iranian program. for this reason, i believe it would be responsible to walk away from the deal. but i'm such a tough issue it is
important to the american people and representatives in congress get a full opportunity to review the deal. the details matter and we've had the finest nuclear scientists in the world working through those details. and we are dealing with a country that has been a sworn adversary of the united states for 35 years. i welcome a robust debate on this issue and i welcome the scrutiny of the details of the agreement. i will remind congress that he don't make deals like this with your friends. we negotiated arms control agreements with the soviet union when the nation was committed to destruction in and those made us safer. confident they will meet the interest of the united states and allies. so i will veto any legislation that prevents the successful implementation of this deal.
we do not have to accept an inevitable spiral into conflict. we certainly shouldn't speak at precisely because the stakes are so high, this is not the time for politics or posturing. tough talk from washington does not solve problems. hard-nosed diplomacy, leadership that has united the world's powers offers a more effective way to verify that iran is not pursuing a nuclear weapon. that doesn't mean it will resolve their differences with iran. we share the concerns expressed by friends in the middle east is in israel and the united states about iran's support for terrorism and user proxies to destabilize the region. that is precisely why we take the step because an iran armed with nuclear weapons would be far more destabilizing and dangerous to our friends in the world.
meanwhile, we will maintain our own sanctions relate to support for terrorism come blissed missile program and human rights violations. we will continue her unprecedented efforts to strike in israel security, efforts beyond what any american administration has done before and will continue to work began at camp david to elevate partnership to strengthen capabilities to counter threats from iran or terrorist groups like i says. i believe we must continue to test whether the region known so much suffering, so much bloodshed can move in a different direction. time and again i think clear to the iranian people that we will be open on mutual interest and respect. our differences are real and the difficult history cannot be ignored. but it is possible to change the
path of violence and rigid ideology, foreign policy based on threats to attack neighbors or eradicate israel is a dead-end, a different path, one of tolerance and peaceful resolution of conflict leads to more immigration in the global economy inability of the arabian people to prosper and thrive. this deal offers an opportunity to move in a new direction. we've come a long way to reach this point. decades of an iranian nuclear program come in many years of sanctions in many of intense negotiation. today i want to thank the members of congress from both parties who helped put in place sanctions proven so effective as well as other countries who joined us in the effort. i want to thank negotiating
partners, united kingdom, france, germany, russia, china as well as the european union for unity in the after which show the world can do remarkable things with peacefully addressing conflicts. we show that we can do when we do not split apart. finally i want to thank the american negotiating team. we had a team of experts working several weeks straight including secretary of energy and i want to thank john kerry, our secretary of state who began his service to this country more than four decades ago when he put on our uniform and went off to war. he's not making the country safer through his commitment to strong winds above american diplomacy. history shows america asleep not just that there might go with their principles. it shows we're stronger not what
we are above that bring the world together. today's announcement marks one more chapter in this first new of us safer and more hopeful world. thank you. god bless you and god bless the united states of america. >> president obama making a statement on the heels of the historic deal. back with us this fox news national security analyst kt mcfarland. also intelligence operator fire pilot and fox news horse on the leah gabriel. thanks for joining us. where did you learn by the comments? >> if what he said he take on bayside is a good deal. not sure if taken on face value. he said that had the ability to 24/7 access whenever necessary. what does that mean? anytime anyplace we think is important or who are quick
iranian so they tell us where we can go for think it's important. second thing, scientists say they will provide us with information on the nuclear program. the reason is you don't know whether they are cheating until you know it is started. giving us back information that is true he said we would have sanctions lifted sequentially as the iranians are part of the deal and they would go lockstep. the question i have is to assist me in all sanctions because we have sanctions on iran's nuclear program but we also have support for terrorism. as a sanction for terrorism involved in the deal? the bottom line is the president seems to be saying we are embracing iran, they come into the economic community and we hope they change. we hope they grant the opportunity for peace. on the other hand, will
definitely improve iran's economy within an hour, would mean the mullahs who still chant death to america and talk about annihilating israel, are they going to give that up? i want to see what the iranian leaders are saying. is the problem. in the past to the past the president has said one thing in the rain in the rain and said in the iranians say that it's not what we agreed to. maria: we heard a lot about yesterday as well. with already heard from benjamin netanyahu in israel who said this is a horrible deal. >> on the face that looks like a great game. it sounds as though details have been worked out. sounds like a good deal has been reached. he also said details matter and the details do matter. we look forward to seeing what the details are right now. the president said the u.n. u.n.
inspectors were 20 for seven access to nuclear facilities. what about military site the ayatollah said we would never have access to according to "the associated press." this has been kicked down the road because iranians have said according to the u.n. inspectors can press for access to the military site. the access is not guaranteed. built-in delays give iran time to hide. tehran can challenge the request and it goes to arbitration. that's a key point. there's a lot more details here. centrifuges. there's going to be somewhat down on centrifuges. what about the type they can allow to continue to develop. the ira can enrich much faster.
so there's a lot of a lot of questions but are they going to have your cooking tools sitting out ready to go light on cooking network where if they want to, need to come and decide to, they can put everything together and cook up nuclear weapons. maria: we will see. in terms of congressional approval, when you expect congress to zero when i'm details and what is the timing on understanding whether this is the final deal. >> depends on the administration presents to congress. secretary kerry coming out with more details. presumably iranians will have an announcement momentarily as well. the iranian president perhaps the iranian foreign minister. if there is an agreement that is the same agreement, the translation into farsi is the same as english, it's just a matter of submitting it to congress and the clock start
taking. the key point is this specific spirit of 20 for seven inspections doesn't include military inspections, that is not a verifiable deal. they will keep the stuff a military installation. maria: aligarh commentary on markets and oil. >> oil prices are down 2%. the announcement of the deal still down. anticipation as we look at 30 million barrels or so they have stored icn iran onto the oil market a oil market a novel query of the blood supplies. john kerry to retain a couple minutes ago that this agreement is a step away to his possibility of peace. this is a good deal we have sought. prior to that he said the deal brings insight and accountability to the plan that he called it a lifetime program.
the key take away there is don't these restrictions, are some of them phased out. is this a lifelong plan, can we count on that? makes a change as far as that. >> go ahead. >> the point is 75 years, spent 10 years. at that point we will embrace the nuclear program. you do have nuclear weapons, arms race in the middle east and countries toppled overnight. >> john kerry speak in life now in vienna. >> not when the stakes are so high. not when the issues are so technical and not when each decision reflects global security so directly. the fact is the agreement we
have reached fully implemented for great insight and accountability to iran's nuclear program not for a small number of years but the lifetime of the program. this is the good deal we have sought. believe me, had we been willing to settle we would've finished the negotiation a long time ago. we were not. all of us, not just the united states, the frames, united kingdom, germany, russia, china and the e.u. were determined to get this right. so we have been patient and i believe our persistence has paid off. a few ago we had our international partners joined iran and announce the new security parameters to serve as
a potential deal. experts and commentators were surprised by how we had achieved at that point. after three more months of long days and might i come i'm pleased to tell you that we have stayed true to those contours and we finally carved in the details. i want to be very clear that parameters we announce not only remain intact in from the back only reached today, but really detail they been amplified and raised that make this even stronger. that includes a sizable reduction of enriched uranium and the number of centrifuges it operates. it recommends the breakout time
and enough fissile material for one nuclear weapon. they are at least one year for you. i've at least 10 years. contrary to the assertions of some, this agreement has no sunset. it will be implemented in phases beginning within 90 days of the u.n. security council endorsing the deal and some of the provisions in place for 10 years. others for 15 years, others 25 years and certain provisions including many transparency measures and prohibitions on nuclear work will stay in place permanently. most importantly the agreement
addresses iran's potential pathways to fissile material for a bomb exactly as we said it would with transparency in order to ensure the peaceful nature of iran's nuclear program. that may explain how it will accomplish the goal. the participants have agreed iran will not produce or acquire highly enriched uranium to weapons grade to tony on for at least the next 15 years and iran declares a longer period of intent. iran's total stock pile of enriched uranium which today is equivalent to 12,000 kilograms will be capped at just 300 kilograms for the next 15 years, an essential component of
expanding our breakout time. two thirds of iran's centrifuges will be removed from the air facilities along with the infrastructure that supports them. once they are removed, the centrifuges and infrastructure will be locked away and under around-the-clock monitoring by the international atomic agency. uranium enrichment will be scaled down significantly. for the next 15 years, no uranium will be enriched beyond 3.67%. this is a level appropriate for civilian nuclear power and research well be the nat possibly for a weapon. the next 10 years, iran has agreed to only use the first-generation centrifuges to enrich uranium. iran has further agreed to
disconnect all of it offends centrifuges and most remain installed will be part of a constrained and closely monitored r&d programs and then used to produce enriched uranium. iran has agreed to stop enriching uranium for the next 15 years. it will not even use or store fissile material on site during that time. instead, will be transformed into a nuclear physics and technology research center. it will be used, for example, to produce isotopes for cancer treatment and will be subject to daily inspection and will have other nations working said with every iranians in effect there. when the deal is implemented, the two uranium paths iran has
towards fissile material for weapons will be closed off. same is true for the plutonium path. we've agreed iran's heavy border reactor will be rebuilt based on a final design will approve so it will only be used for peaceful purposes and iran will not build a new heavy water reactor reprocess field from existing react or is for at least 15 years. this agreement is not only about what happens to iran's declared facilities. the deal also gives us the greatest assurance we've had that iran will not pursue a weapon covertly. not only wants back or is accessed iran's declared facilities daily, but they will also have access to the entire
supply chain that supports iran's nuclear program. from start to finish in uranium mines to centrifuge manufacturing in operation. so what this means is in fact to be able to have a covert path, iran would need more than one covert facility. it would need an entire covert supply chain in order to feed into the side and ensure it does not happen without our knowledge under this deal, inspectors will gain access to any location in the iaea and the majority of the p5+1 nations deemed suspicious. it is no secret that the iaea has also had long-standing questions about the possibility military dimensions of iran's nuclear program. one of the primary reasons we
are here today and when partners have made clear throughout the negotiations that iran would need to satisfy the iaea on this is part of the final deal. with that in mind, iran and the iaea have entered into an agreement on the process to address all of the outstanding questions within three months and doing so is a fundamental requirement for sanctions relief that iran seeks and director armando announced this morning that agreement has been signed. now, our quarrel has never been with the iranian people. and we realize how deeply the
nuclear related sanctions have effect that the lives of iranians. thanks to the agreement reached today, that will begin to change in return for the dramatic changes that iran has except dead for its nuclear program, the international community will be lifting the nuclear related sanctions on iran's economy. the relief from sanctions will only start when tehran has met its key initial nuclear commitments. for example, when it has removed the core from the iraq react to her, when it dismantles centrifuges and shape that the enriched uranium it is agreed to ship out. then they said commitment, and they will then begin to be implemented in phases. the reason for that is simple. confidences never built
overnight. it has to be developed over time and this morning, foreign minister seri expressed his hope the agreement can be the beginning of the change of interactions between iran and the international community. that is why none of the sanctions we currently have in place will in fact be lifted until a rant implements commitments it has made and some restrictions including those related to arms and proliferation will remain in place for some years to come. i want to underscore -- maria: listening to secretary of state john kerry talk about the positives of the deal. i want to bring a bright bear and get his assessment here. we've heard from the president
and secretary of state. what are your thoughts on this iranian deal? >> maria, a couple things. this'll be a forecourt press to capitol hill behind me. they will try to get the vote to go through. it looks like right now by the early response and i'm ready to head count and that there are not enough votes to get through on the first pass. you heard the president threatening a veto at which point he would have to cobble together essentially 34 democrats in the senate, a third of the house to get this or permanently to prevent an override of the veto. they are already sending out signals that this essentially is the worst of all circumstances. anything is the lifting of the arms embargo. the chairman of the joint chiefs up on capitol hill this week saying under no circumstances
should the u.s. relief pressure on capabilities with ballistic missiles and also conventional weapons. that is what happens in the deal. the verification will be a big problem that it's no longer any time any place. it is accessed approved by the iranians and not a snob with the administration promised go in and. train to is there an item here that says after 15 years they can enrich as much as they would like. >> right. the administration is making a point that this is the way to stop iran from getting a bomb now. the question is whether that is true and whether there can be, just imagine we start a process now where it is the whole catamounts game and iraq.
the first time iran says they are not going to allow reason to some facility, what that causes. moving things around. the key part is we won't know success of the deal until well after the president leaves office. the decision of the next president will be dealing with iran going forward. maria: which is extraordinary. leah gabriel, i want your take on why she mentioned while john kerry was speaking. nothing guarantees anybody to enter their military site. >> that is right. according to the associated press, it appears as though they've just kind of sad we can't agree on this so we are not going to come up with that agreement and deal with this later. u.n. inspectors press for access that iran doesn't have to agree to it.
tehran can challenge the president to go to arbitration with the other six world powers in deciding not. essentially we can't come up with an agreement so we'll kick the can. train to the president was so optimistic and john kerry is speaking so that tori is late here. once again it feels like two different deals. >> it really does. the challenge will be for democrats who would have ties to israel or jewish communities in america that they are going to feel a lot of pressure opposing this deal. via makes a great point. and the president's and the president species says key nuclear facilities. he doesn't say any facility. he doesn't say military installations. he says key nuclear facilities and they are going to address
problems. the phrasing of this is obviously always in any deal, financial or otherwise, the devil is in the details. maria: we should be talking about this like this is a home run because congress needs to look at this and most likely move to block it and the president said he will veto any legislation that challenges this deal. what is your take on the showdown that is about to be created. >> almost positive looking at the votes right now said they will block it on the first time. what i am not positive about is whether the opposition will build enough that the presidents after a veto won't be successful. he probably will be successful. 34 democrats, 200 in the house. you are going to have numbers that start to favor the
administration. that said, because they missed the deadline, congress gets 60 days and a lot of this is spent at home. they will hear from constituents and lobbyists on all sides and there's going to be a lot of pressure that builds on lawmakers on this though. maria: great insight as always. kt mcfarland, leah gabrielle, thank you being with us on this story. will click on any impact on the best in her broader markets for the deal? >> no, i don't see anything. oil is very muted. it's not too dissimilar from what we've seen. oil is more closely related to asia and what happens over there in terms of growth. i think it's the united states in its economy more so than the iranian deal. even whether it was completed, the reality is that will take a long time to execute details and
bring the oil into production i've been looking at completely acted different economic data which will impact oil further. it is significantly higher than its low. train to the economic data today meeting this week that retail sales coming up this week and the fact front and center wednesday and thursday. >> the fed right now is the story. we've been distracted by greece and the crazy chinese stock market. bottom line is the fed is the story. when interest rates start to move and the bond market starts to break, that is the story of the market. sandra: i think it's worth pointing it out if you think it's a big impact right now. there is a bit of a pop.
john kerry was talking almost like a market that maria has priced in the iranian deal. the markets have been closely watching this. we pulled off 11 out of the 13 sessions in crude oil and were well off recent highs. i'm sure we can get it up later on. as for pointing out it's almost like you could interpret that. the market saying this isn't a deal that's going to get done. maria: they can't lift any sanctions for 60 days. the sanctions can be lifted so there's a lot of things that can happen in the next two months. maria: politically speaking in an election year, give us your read on that. the president doing a victory lap this morning. >> we've got all the senators
running for president right now. they will use this as a way to push their alliance with israel. hussein lindsey graham deal akin to declaring war and israel. you see a lot of posturing, a lot of big old language. >> perhaps that's why the market softened. it is an assumption that this will take a long time and it's anybody's guess if it's a deal at the end of the day. sandra: it will be very hard to block it. not much in the u.s. futures markets though. pretty much where they've been in the overnight session. >> it is not an impact economic way. even though oil may bounce off these comments made by john kerry, the reality is we are still trading tight inside of the range and i don't think this will impact. transit will talk more about the
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>> good morning to you maria as you harder the president say a while ago he is trying to position this, as a comprehensive long term deal, the negotiations over in vienna lasted weeks and months into years really, are now over. now the push begins here on capitol hill congress has 60 days to review this deal the president is trying to position this as a deal that was negotiated from a position of strength. take a listen here. >> today because america negotiated from a position of strength and principal, we have stopped the spread of nuclear weapons in this region. because of this deal, the international community will be able to verify islamic republic of iran will not develop a nuclear weapon. >> the president also said maria congress should consider a position in which this is not in place that is kind of the way he is trying to posit here. >> joining us is former new
hampshire governor jane soon you -- john soon good to have you -- >> we in on developments. >> you know, we knew there was going to be a deal because the president was going to sign a deal, no matter what. and secondly, we knew that as bret put it earlier, the devil would be in the details. but the fact is is that a will have the what they said today is just spin. he said we're not doing anything about the sanctions for a long time. but the fact is they have released billions of frozen dollars dollars that had been frozen, back to the iranians already, secondly, the most critical piece the inspection piece, they caved in on virtuely everything lon term notification to the iranians in the process that gives them time to do whatever they want, we are not allowed to go into the military installation and finally the president's claim
that this halts the spread of nuclear weapons in the region, misunderstands the message getting from allies like saudi arabia, and the uae, who are so upset about this they have been saying that if this deal goes through, they might move towards nuclear weapons themselves. >> right. >> that is horrible deal. >> not to mention what we are hearing out of israel this morning, do you think congress can block this deal the president's adamant said he will veto legislation challenging it. >> people have to understand, there is a reason this deal is structured as a political agreement, and not a treaty so that the president can with his veto, prevent it from being blocked by congress. it is awfully tough when you have significant members in the house and senate not to get one-third in either of the two places to block a piece of legislation so he probably has the political strength to force this through, you unfortunately for america he
probably has the political strength to force it through eventually. >> governor stay with us we have got to talk more about this historic deal on iranian nuclear program, we take a short break then we've got to ask i what you see is next, how this plays out stay with us for more john sununu, stay with us. .
maria: governor john soon leo kelly jackie joining sandra and me own set governor let me get your take how this plays out in the coming months when congress gets a chance to look at the details here, and how congress responds. >> well there's two things, one, congress will probably block it with the first piece of legislation i think the president will will get his veto sustained but the important political impact of this on mrs. clinton, i think the president's put mrs. clinton in a very tough place it will be interesting to see
if she wholeheartedly embraces this as structured certainly jewish community important swiss for democratic presidential candidates not very happy with it. >> that is a great point in fact that is the former secretary of state she should have real opinions here. >> she avoided having real opinions for a long, long time it will be new if she does. >> hard for her to avoid having any opinion, on probably one of the biggest stories of our time, a deal with iran, governor good to have you on the show at a thanks so much. >> thank you. >> your thoughts how do you spell. >> i think about hillary in 2008 she called obama reckless naive when it came to iran compared to obama has had a better relationship, with netanyahu with israel. so but she also has been about cautiously being optimistic about this deal now that we have the deals all going to be watching what she says the political world how, how you see enthusiastically they
braces this not only implications in the presidential race congress is watching her a democrats watching her subjects sassumpti will be nominee. >> hightower, earnings came out better-than-expected what is most important for investors takeaway. >> investors have to focus on two things, number one is what is going to happen with interest rates, the fed is is in a tough spot they have to raise rates, wrer in a crisis monetary policy still in you states, even more so in europe than asia, we can't keep this liquidity going, however, inflation is low. the fed has said core cpi what is matters that is still low so are they going to be able to raise interest rates? they have to when interest rates go if this bond market starts to break, i think there is a liquidity mismatterch between bonds and ets that could create turmoil could i have with fixed income. >> go ahead. >> and as far as equity evaluation. >> we will get more information on that this week june retail sales second
quarter arranges. sandra: energy huge part all morning i've been watching oil prices, such a big story playing out with china, right now. it is going to have a huge impact on currencies commodity. >> thanks very much for joining the conversation have to morning we'll be right back with more "mornings with maria" stay with us.
. maria: good tuesday morning everybody i am maria bartiromo it is tuesday, july 14 with me this hour anchor sandra smith fox news senior are correspondent, fox business dagen mcdowell breaking news of the moment in iran nuclear deal reached. the agreement capping a decade of diplomatic efforts in recent weeks you have to negotiations focused deadlines to keep getting pushed bark iran finance minister calling it a win-win solution new chapter of hope president obama making a statement on deal just last hour. >> today, because america negotiated from a position of strength and principle, we
have stopped the spread of nuclear weapons in this region. because of this deal, the international community will be able to verify at a islamic republic of iran will not develop a nuclear weapon. >> news having immediate impact on price of oil, prices down sanctions listed means increase of oil supplies on the globally market, to look at futures this morning, expecting a mixed showing for the broader arjz, the big story on wall street in terms of markets bank earnings season under way j.p. morgan reporting earnings per share beating expectations coming in 1.54 a share, second quarter revenue was 24.5 billion, and wells fargo right now wells fargo atf, 1.03 a share compares with estimate of 1.03 in line with expectations, on wells fargo the stock right now j.p. morgan shares expected to open higher,
breaking news world powers reaching historically nuclear deal blake in washington for headlined details, good morning. . reporter: good morning to you not only did the president say this was a deal that was negotiated from a position of strength, he also called this a comprehensive long term deal that will be part of the push going forward. as the president now tries to win congressional support we are just being told as well maria president started reaching out as early as last night, to members of congress, to try to give his side of the story and get this going through on congressional level we heard the administration will point to several areas, like how two-thirds of nuclear producing centrifuges removed responsible inspectors will have access toir iranian sites likely face opposition as those inspectors are not allowed to show up at a moment's notice iran could extended that timeline, to where inspectors don't show up until as late as 24 days after that initially request, going forward congress has 60 days
to review the deal, the question becomes will it become past or shot down first go-around the president has said he would veto that if so if that is the case, then there would be a second vote that requires a two-thirds threshold, and the secretary of state john kerry just said a while ago he expects this to pass. the question also becomes the first go-around the second go-around. to begin. >> showdown under way blake in washington wells fargo reported earnings revenue the revenue was a miss 21.3 billion versus estimate of 21.7 billion we are seeing weakness in wells fargo shares this morning, strengthen in j.p. morgan want to bring in u.s. ambassador, to saudi arabia the former ambassador from saudi arabia also a diplomat inside saudi arabia following 9/11 robert jordan joins me ambassador good to have you on the praem welcome. >> good to be with you. >> does it neil like a final deal that goes through with iran how does this deal look
to you? >> the short answer we still really don't know, there are a couple of troubling elements even what we do no so far these are not any time anywhereing inspections. the president even in is the very glowing statement minute ago said, we will be inspecting the key nuclear sites. what does that mean? i think there are a lot of unanswered questioned here we have got to see more detail but what we do know means that they see sfeksz are not going to be as intrusive not snap inspections, and i am very skeptical about whatever dispute resolution mechanism we have for snapping back the swangs once a violation is found. >> i think a really important point talking with casey mcfar planned earlier this is one of the sticking boints, that u.n. inspectors would be able to go into iran and check at any time, in any place, whether or not they are in fact developing a nuclear bomb, but it doesn't include military sights it is actually not --
what the u.s. and other world powers wander at all! . >> you got statutocratch your h about that military sights are very important you have to wondered why we can't have inspection of those sights. >> ambassador let me ask you this because the other issue, of course, is the fact that the sanctions are going to be lifted what are the implications of these sanctions being like i have said on iran. >> first of all, they can ebb export oil to it is going to have a huge impact on oil market they are rumored to have between 20 and 30 million barrels of oil in storage they can ramp up production not immediately they can ramp up maybe two, 300,000 barrels a day immediately over a year perhaps up to a million or more, this is going to put a lot of oil on the market, it is also going to give them potentially a signing bonus, of up to 150 million dollars, in sanctions relief so they can take that money they can spread it around, to a middle
east in ways that are probably nefarious probably against our interests the interests of our allies, so there is going to be a -- a real cascade of effects, coming from this, not going to be pretty. >> one of the main shoe of entire negotiating period was the fact that people are worried that it is going to be an arm race in the middle east other countries are going to want a nuclear bomb knowing if capabilities that iran already has. you were the ambassador to saudi arabia are you expecting the saudis to -- to pursue a nuclear bomb? >> not really. i think they are pursuing peaceful process they talked about 1u6 nuclear reactors with consultation advice from south korea i think their are capacity to break out developing a weaponized system is remote they don't have technically capability not likely to be able to acquire it pakistan would be most
likely source i think having second thoughts about pro life rateing it would be a huge like about for pakistanis if they were to do it i am a little skeptical they would be trying to develop a bomb but they are talking about nuclear processes for power usage. >> president as i said he is going veto any legislation that challenges this what are you expecting response from congress? >> well, i think we have to see the details. there are a lot of skepticism people out there, i saw senator menendez yesterday c expressing great conservatiskep not sure even if president's party we are going to see all in line particularly if this doesn't have more teeth to it than it appears to -- >> the group, sandra smith dagen mcdowell with me we have been questioning why in fact we have given up on certain things like the abilities to have u.n. inspectors going in, at any time, any place. >> i think we are far of a gloomy i think this is a
chance to make history here, break an jam that extorted world politics since 1979. it is an amazing if as advertised why would the president be selling a bill of goods? i am willing to trust but verify what the president said about the able to trust and verify, and i think with due diligence do at a odor saudi arabia has a bomb because of relationship with pakistan a sunni bomb. the shiites have backed off i think the -- in article allies i believe we have gotten this upside down wasn't it the iranians 9/11 it was saudis we are not can you go to them slack we are making a reasonable deal i would submit that there are elements in the congress of the united states who would with oppose any deal, and they are largely driven by the -- the israel --
>> benjamin netanyahu thinks they are can you go to them a lot of slack posted world powers have made far-reaching concessions in all areas, he said when willing to make a deal at any cost he tweeted this is the result, from early reports we can see the deal is a historic mistake. >> this is a world leader who came to our capitol to undermine our president i submit bibie netanyahu's world view is not shared by many. >> what do you think. >> i think we don't know a bunch of kids waiting to see with a santa claus brings we don't really know what the story is going to be until they give us details i think we have got to simply be patient for a short period of time, but i have got to sha skepticismism i think very difficult to have inspections that would make us feel secure. >> short run lab the arms embargo that disappears after five years, missile sanctions, after 8 years, not what many wanted. >> no. again, this is just not as
good a deal as we had been led to believe we are able going to have. perhaps it is only deal that could have been made. but this missile technology is extremely important, if you are going to weapon nooiz. >> the about the ballistic missile as secretary of defense said means intercontinental ability to deliver against united states something we have got to take very seriously. >> scan kong block this deal ambassador? because we are having a debate about it earlier casey mcfarland as well as me gabriel saying maybe they can there are enough votes bret baier first time around the second time around if the president wants this to happen it's happening. >> well i think that is just -- again, remains to be seen, a lot has to do with what kind of loirl we see, out democratics menendez schumer others very key to this. >> thanks so much. >> thanks maria. >> ambassador rob joining us. >> geraldo's take interest
interesting you think it is upside down. >> when you consider who is al-qaida who is al-shabaab who is isis who are taliban who are groups that have wreaked havoc and destruction on united states interests and west all sunni muslim extremities not she shites, i think we have it backwards. >> they refer to us great state you have mullahs, chanting death to america. >> issue is -- >> but -- i -- because you are painting people into a corner, and to say, that we are wrong, people are wrong for being skeptical isn't fair. >> i -- i think that there is no problem with being skeptical. however, if the secretary of state and president of the united states, and the heads of chooirn, russia ei, nuclear international nuclear energy agency are all on the same
page all of these entities absent right wing of the congress of the united states, and the pro israeli lobby absent those and saudis, the arch enemies of the iranians if they all of of these international groups all of these world leaders on the same page, that says this is -- this is not about trust this is about verification, then he why can't we cut them slack and that i think is the reason that congress of the united states, will even if they make noise about china's destroyed this agreement will ultimately yield to the president. >> most people will say -- regardless of right or left, iran has been a did he struckor in the regional iran a supporter of terrorism do you not agree with that. >> i think that when you compare shiite terror with sunni terror it pales in comparison, it exhales -- what -- who is cutting people's heads off who has taken over libya who is sewing the seeds of destruction in central
africa, who is diseruptive force no south asia wake up and recognize that we are -- we have picked wrong side. >> -- >>, of course, i agree. >> supplying weapons, to hezabollah backing the at howis hutis the syrian government you mentioned huti in gym saudi arabia bombing the hell out of yemen why not bombing the hell out of isis because isis like saudi arabia is sunni must aluminum hutis bodily injury in yemen she haz eat to make war on shiites where whether it comes to stopping al-qaida where are the saudis helping us do anything to further our national interests rather than their narrowo religious extremist believes. >> not a reason do a deal with iran.. >> not a reason to do a deal with iran the reason to do a deal with iran is they are willing to give you mean some sovereignty in return for the
-- the loosening diminishing of sanctions. >> we have got breaking news across the board not only are we looking at international events also domestic earnings wells fargo missed respective expectations profit down second quarter shares lower premarket back in a minute. ♪ if you can't stand the heat,
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>> welcome back, news in oil market oil prices turning positive despite iran nuclear deal in the 'cme gruesome in chicago bill is this in reaction to what we've been hearing from john kerry and president obama? >> you bet it is. you know the initial bearish enthusiasm wore off quickly when it became apparent to oil traders flood of oil is not going to hit the market any time soon we hear a lot of talk about a verification, we're hearing about you know, before oil is going to be released the international atomic energy atmospherics are going to have to give a clean bill of health to iran, and they won't release oil until at least december 15th, so even though there could be a
lot of oil coming on to the market, a couple of mince down the road it months down the road not hitting the market soon one of the reasons oil turned positive rallied over dollar since asset john kerry started to speak. >> interesting, what a move sandra in the price of oil, i mean yeah maybe oil doesn't come on market initially you are talking about a supply story when it comes to oil. sandra: what i've been talking to a lot of my sources in energy industry on is specifically how much of this deal was already priced into oil considering, we have seen oil prices sliding, 11 o past 13 sessions, more than 10%, this month alone, so markets pricing this in all of a sudden the actual news, and you see it come back a little bit. >> then ask questions later. maria: buy on expectation sell on news donald trump makes waved in thema republican field president making wine, in the all important primary state of virginia we take you live to the trump vinyard back in a
. maria: welcome back, donald trump taking a dedour from a campaign schedule for the grabbed opening of his family latest venture a winery in xharl ston virginia charlie charlie live from trump vineyard with trump winery president son of donald trump eric trump, cheryl good morning. cheryl: good morning, maria, at the grand opening obviously of the winery i want to bring in eric trump he owns this winery we should say. what are wine for the trump organization this is first time of you ever done this golf courses we understand why winery. >> wine so high end, it is so in right now if you look at
generational shift in wine, young people are sinkings and exploring regions not just kind of old world trends, not just california people drink wine from amazing places virginia new york state washington oregon a really effective product that people are -- >> it is interesting especially what is going on with your father's campaign the organization itself a lot of financial pressure on trump organization because of comments, by mr. trump himself does are you worried about the change in the business now that you are seeing. >> i think our business is doing better quite frankly than ever we are absolutely doing phenomenal golf courses full winery amazing larnlz doctorate winery east coast of united states 55,000 cases of wine a year coming absolutely amazing, so i actual don't think presidential thooipg has anything negative to do in fact i think positive. >> you think a positive i was looking at one estimate maybe 05-million-dollar loss trump organization overall, i asked you this because you are so embedded in the company, and
building legacy of the trump name. >> don't know how these people quantify these. >> is that is what we do ask business questions talk about social landscape particularly with winery other businesses, particular, now twitter campaign mexican druglord your are you worried about kurt fsecy for your family children everybody around you mexican drug record with kind of going after your dad on twitter. >> my father is amazing guy total total patriot lovers america says what is on his mind not like about typically politician we come back like this amazing hotels, running great wineries, doing great golf courses. >> great to be with you here eric, when so much is changing since you were in studio with maria bartiromo i was saying hello the day after your father announced presidential run maria standing by in new york has questions i know wanted to say hello. >> we love her.
>> eric let me ask you where does this wine fit into the over all portfolio of trump properties? >> a great question that is we focus on things that are sexy the best hotels golf courses best buildings if you look at wine just a sexy product airfare loves romantic very cool, very in, so it fits very well with very, very high end product that is what we focus on as company. >> what are you seeing in terms of business year having a debate about economy an iran deal, that was -- that was he closed today talking about that, give your sense where we are in terms of economic growth when you look at all of the properties under the trump bannerp? . >> you know we are very adverseed around the world new york great properties all over united states great properties overseas, at the same time, there is no question that we life in a very, very crazy world right now i mean iran deal looks like a total mess serious problems i think one of the reasons my father is running, he will fix them he is brash he is a great
businessman, he will take care of those problems and i think he is fed up with -- to tell you the truth. >> thank you so much. >> thank you. yeah. >> thank you very much we are going to be out herb, of course, throughout the day the donald himself restrictiving next couple hours a lot throughout the day on fox business from the tumble winery grand opening day live on fox business, thank you eric. >> thank you, eric trump good to see you thanks for joining us this morning, iran and world powers a historic nitric agreement more on that the implications next back in a moment. can a business have a spirit? can a business have a soul? can a business be...alive?
>> welcome back. two major sweeping events. the historic deal on the iranian nuclear program and greece's prime minister tsipras facing backlash after the agreement with the euro zone. good to see you, thank you for joining us, john. >> you're welcome, maria. nice to be here especially talking about greece.
maria: thank you. as a small business owner and someone so successful in creating and building your business, what kind of an impact do you see from the happenings that we have been talking about this morning, especially on greece? >> i see on greece, people look at it differently. we're going to see a positive outcome. the greek people are hard-working people and they've got to focus on it was their governor that got them in trouble, not the international monetary fund. and the socialistic way of life was not working. there's a good answer to no one is looking at and two things, one, it's not forget what you owe us, it's take longer to pay. second of all because you have so many people, whenever you have somebody leaving their job to retire, don't rehire. when they retire, don't rehire.
in other words, if they start out having three people doing the job of four, little by little, they start working out the dependence on government and becoming more self-reliant. now when people look at it that way and they're happier, tourism will come back. >> tourism on the mainland, it's not off. people are not friendly, it's a dangerous place to go. when they realize where the challenges are and how to get out of it, they're happy people like before, we are going to see a turn around because they're upset with the people that get the money. maria: for sure we're seeing a different economic story in greece than you are, really, anywhere else in the world. i want to take your attention back to the u.s. we just got retail sales out and it's a myth, actually. retail sales for the month of june, the expectation was calling for a gain of 2/10 of 1%. once again we're seeing the
consumer not spend money. we thought that they would take the savings at the gas tank and put it into the economy. retail sales is disappointing. how would you characterize the economy. >> at paul sales, it's good. but how is greece going to affect europe, the united states, everything. when people look at bad news and uncertainly, they hold back a little bit. as things calm down, they spend. it's not that they don't have the money-- >> you did not just blame the media for people not spending because that's what it sounds like you're doing. we're the bearers of bad news
and we're the reason. >> just a little bit. it's not the bad news, it's what's in the news. a little bit. not that you're causing it, but people that's how you react. when people think it's dangerous, they pull back when things are more positive. maria: the numbers are the numbers. i don't know what's dictating it. whether it's policy or whether it's just negative events around the world that's scaring people. the numbers are not good, sandra smith. sandra: john paul, you're a millionaire and the numbers are out there. this is sandra smith. there's been a continued attack on the rich and seems like that's another theme headed into 2016. what do you make of the political climate right now? what do you like? who do you like? >> good question. first of all, it's kind of stupid, especially with the far left is saying about those that have money. they don't realize that those who have money work anywhere from three months to more than six months out of the year just
to pay taxes period. now, that's a lot. and how would you like to go to work the first six months for taxes? and those of us fortunate enough to made good money we give back a lot to change to make things better. it's popular, go against the rich, we're on your side. it's we the people of the america, not the rich versus the poor and isn't it the american dream to have a chance to make a few bucks and when you do, give back. success unshared is failure. and the american dream is we all had the opportunity to be successful not just in our work, but to be successful in making money and those of us, a lot of us that give back, should be praised, hey, look how much they're giving back and changing the united states
of america and-- >> here is geraldo rivera, every time we run into each other, mike at cheech's house. and you talk about giving back and hope i instruct my children to be charitable and tithe. what do you credit our relative stinginess, is it that we don't have the money to give or the divisiveness in government that one identity goes one way and what makes us perhaps less charitable than you would like? >> because i think the nation as a whole forgets it's we the people, we are one. when you look at the rich pit against the poor and those with their own businesses. it's we, the people. when you realize it's we, the people, we help one another out. will we have enough to take care of our family and our
family's family's family? why not take take care of our brothers and sisters. it we, the people. maria: we should point out that the americans are the most fill tropic on the planet. good to have you on the show, thanks so much. jp dejoria joining us. a twitter storm professing to have inside knowledge and the book "straight to hell", the author is with us.
>> welcome back. the gf elevator account on twitter on high finance. they're out with a new book about the inner workings of big money making. the author of straight to hell which hits shelves today. thank you for joining us. he want to begin before we get to the book about the gf twitter account which you ran. tell us about that. >> it literally started as a joke among friends. >> it's supposed to be the elevator at goldman sachs? >> not quite, it's an homage to a twitter account at conde nast and imagine what if people could hear what we said. maria: people are mad you
started that twitter account. they took it too seriously and literally, but it was about the mentality of banking culture and wall street. maria: what is that mentality today? let's get to today's book, which is straight to hell. >> yeah, i mean, it's just people who, i mean, i guess it emulates or you know, illuminates the 1% wall street, for lack of a better word, this mentality. >> you had done this account and then you were outed by the new york times. >> that's right, and we-- when i decided to write a book. we always anticipate that my identity would come out and we counted on it, you know. there was no other way to tell the stories without revealing myself. dagen: john, why are you just another tool in the toolbox? isn't that, i mean, your book is really just about you, and you were kind of a cog in the wheel.
i'm not trying to use a execn e -- expletive. >> i'm looking at the way i worked with corporate clients, with buy side clients, hedge funds, working with investment bankers and traders. and then doing deals with every bank on wall street. i think that that advantage vantage point has been different than what has been demonstrated before. it's not just a single rotten apple, that i'm one sort of scumbag, for lack of a term, but it's a whole-- >> you worked in the culture and in hong kong for four years, why are you an authority on that? >> i'm not protesting to be an authority. >> but you're an insider. give us the scoop. what is the culture? >> did you make this stuff up? are the tweets for real? >> the tweets are a collection
of things that i have said or overheard over the course of, you know, 15 years. >> you used the word homage and i immediately thought fiction. is it fiction or disguised reality? >> it's true and even to the extent that some of the tweets might be kind of fabricated as you might suggest, they still represent the mentality. >> what are the tweets and what are the culture for those who have not seen your twitter account, gs elevator. and your book "straight to hell". >> sexist, racist-- >> why didn't you leave? >> midtown. >> why is it the people you associated with and why is that wall street? >> again, i did deals with, you know, every bank out there and for, you know, from freddie mac and aig, to general electric
and ford, we did deals with all of these people and took them around the world, and this is representative of them. dagen: sorry, i've read like every wall street, i'm a jerk and i like hookers and strippers and i'm doing cocaine and snorting it off places i shouldn't snort it off of. why should i read your book, i've read them all, i read wolf of wall street, scothat was a movie. why should i read this. >> it's about people who commit crime and party like rock stars. i'm talking ivy leaguers who work at morgan stanley and dn adds. >> you worked at goldman. >> i was hired, but i could not work there.
maria: why? >> are you one of these jerks or just a reporter about the jerks? >> i think i lived through it and i was remarkably self-aware and cynical. as i talk about, i've always said bankers take themselves a little too seriously and define themselves by their jobs. as human beings they define themselves as their jobs and they regard that as rocket science. sandra: it feels like you're writing a wall street of yesteryear, you've got to be no only tech savvy, but-- there's a wall street that was different than today. >> they're managing directors and desks and teams at every big bank and that's still the case. maria: give us one story where you know it occurred that's emblematic of the culture you're talking about. >> the first client meeting i went to in asia. not to be too asia centric to you. dagen: that's where you worked most the time in hong kong.
>> that's more interesting, i think, when you're dealing with chinese tycoons. >> what happened. maria: we're not getting to the point. i'm trying to-- >> the first meeting, the sales guy that i took over some responsibilities for, the first thing he did was give me the number of his drug dealer. and some of our clients, you know, include trading desks at goldman sachs and hedge funds, we went to a karaoke place where it was, you know, five guys and 30 hookers and cocaine laid out on the table, that's how business got done. >> the misogynist. >> why did you go? >> because that's how you get promoted and-- >> oh, come on. >> did you get into this to say i'm going to do drugs and dig up salacious details.
>> i wrote down stories as i went along because i didn't want to forget them because half the time we were-- did you go with the hookers? just curious. >> i beg your pardon. >> did you go with the hookers. >> did you do the cocaine? >> i'm happy tli married. >> i think you're doing a severe disservice to a lot of people who work in the financial industry and beyond, i mean, you're not representing wall street. >> you may be too protective. >> there are hard working people who are husbands and fathers and take care of their household. >> i represent all of those people and you can't even imagine, you know, you talk about asia, what happens-- >> did you write down the number of the coke dealer? >> of course. >> when we take bernie mac on the road show and all of the bankers-- >> and did this get you anywhere? you have to do this to get promoted. >> i beg your pardon.
>> what do you do now? >> i live on a golf course and play with my kids and-- ments you worked for four years and. >> 15 years. >> you worked at a major job for four years. would you agree this is generalizing. >> what she said is absolutely ridiculous. maria: what did she say? what did-- >> saying that, you know, i have no-- >> i said that's the life you lived and you're writing about yourself, but not trying to extrapolate and make it about an entire industry particularly one when you didn't live here and here and work in new york city. >> i'm trying to write about every culture. >> and. >> i worked with salespeople, bankers, corporate clients. >> you said you had to do it to get ahead and-- >> what do i do? i'm retired. >> retired, how did you retire so young. >> the coke--
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>> welcome back. with the iran deal done, will anyone in congress want to get in front of it. >>. >> i have confidence it will meet the state and our allies and i'll veto any measure that preven prevents-- >> the president says the deal is verification, but there's a lot of debate about that. stuart: certainly is. you go back to ronald reagan and mr. gorbachev. the principle that mr. reagan
used was trust, but verify. and he said this is built on trust and verification. and there are some problems with vir if ication. did you want the inspectors to go into the iranian facility. they have to make request to the iranians and they have 14 days to say yes or no. in 14 days you can do an awful lot. the idea of instant verification and nuclear facilities, that doesn't look like it's going to happen. i think the president will have some problems with the deal, especially in terms of verification in terms of our enemy who we do not trust, at the same time it's going to take a large, overwhelming majority of opponents in congress to get this deal undone. i think it's a deal we've got. maria: stuart, i'm here with geraldo rivera, and he says we should trust them. and they're the wrong players that the saudi that aren't our
friends. >> one commander of chief at a time. >> geraldo we've had a generation now of death to america, terrorism as an export commodity from the iranians, and the death of many, many americans at iranian hands and they cheated before. >> not in recent decades we have not. >> they have cheated in the past on a frequent basis. now, it's very hard, i think, to trust someone in that position, especially verification. >> didn't you say this is not about trust, this is about verification. >> yeah. >> why can't we trust the commander-in-chief that he says that you can verify. i don't know, i've never built a nuclear reactor that's enriching uranium to weapons grade, but it would seem to me that it's not the kind of stuff that's portable, you don't just open it up and brew up a little enriched uranium in your back yard and then 'cause you've got two weeks fold it up in a suitcase and court it away. what about radiation and the infrastructure, and the plant?
it would seem to me that two-weeks isn't a bad deal. >> if ut-- if you pars the president's world, it's not any and all and suspicious nuclear facilities, not that. it's narrowly defined what you can inspect and when you can inspect it and that's where verification is shaky here. maria: does it sound like they wanted that? that's what the u.s. and five other world powers wanted, anywhere, anytime, u.n. inspectors can go in, but they got push back from iran, okay, forget it, we won't push on that one. stuart: there was an element of caving here in the area of verification in order to get a deal. i think the president made a forceful presentation, no doubt about it, a fine presentation indeed and broadcast live in iran as well, but i think he falls a little short on this verification idea and that's a problem, i think, for everyone. maria: stuart, see new about
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>> big day on wall street today as we watch the deal in iran and deal for greece. i want to thank sandra smith, geraldo rivera and dagen mcdowell. geraldo come back soon. tomorrow on mornings with maria we'll talk with rudy guiliani, one of our guests and def jam records russell simmons will join us and second quarter earnings began in earnest today. j.p. morgan beat expectations and wells fargo missed on the revenue line and the stocks are moving in a different
direction. and the federal reserve in focus and janet yellen speaks and another market mover which is below expectations. that's it for us this morning. thanks for being here. stuart, have a good show, over to you. stuart: live in iran and live in america, too, a nuclear deal presented forcefully by president obama himself. good morning, everyone. according to the president, iran's ability to build a bomb will be significantly limited for a decade. said that the deal was not built on trust, but verification and he warned congress he will veto any attempts to block it. little i am tactful-- little impact on stocks. and oil 52 a barrel. and iran gets some sanctions relief and they want to pump oil and maybe, maybe