tv Mornings With Maria Bartiromo FOX Business October 1, 2015 6:00am-9:01am EDT
take a look at hurricane joaquín. it could reach the united states east coast by the weekend. forecasters are warning that the storm has potential to drench coastals states. markets are starting off in the green. markets are expected to open higher. take a look. triple-digit move yesterday. dow is now expect today open up about 120 points. nasdaq also higher in double digits. this morning up 1%. take a look at stocks in england, france, germany. about one and one and a third across the european region. twitter is set cofounder dosrey as ceo. the announcement could come as early as today. toronto blue jays are the american east winners.
st. louis cardinals have won the central division. back with the top story. development of the hillary clipton -- clinton scandal. it is unclear whether she clicked on any attachment and exposed any account of the state department, released about 6,000 additional pages and dozens of them contained information classified. how to catch a russia spy author, navid, what's your take on the hacking story? >> it's perfect example of why she shouldn't have used private-e-mail server. as you said it, there's classified information they could have had access to it. >> maria: we don't know if anything was successful. can we say that were no hacking
attempts -- >> absolutely. >> maria: so what happens now, what kind of vulnerability do you think? >> you have to look at what was compromised and what the potential risk is and if it was compromised what holds you. it's a fairly serious development, i would say. >> maria: this is one of those things, this is why this has been such a focus because the loyalist about hillary say it's no big deal. >> this was spam. everybody gets spam. the more shocking story was in the wall street journal that there are two months of emails from the time she start -- took -- came on as secretary of state that are not there. it is not there and the clinton campaign said that her e-mail.com account was not moved to home server until march and representatives have no access to any prior records. literally knows where the emails are.
the only way we discovered because there were emails on the defense department servers. i think this just adds to it. what we don't know and what we aren't being told. >> maria: yeah, i think the bigger story as it relates to russia this morning is the fact that russian jets have conducted 30 strikes targeting antiregime forces. the u.s. given one hour of notice prior to actual strikes taking place. one hour in advance. do you think this could further school late tensions? the u.s. was there and is there doing its own air strikes and here comes russia saying keep out of aerospace? >> nothing has changed. clearly it's a big changer. 14 years the russians with respect part of, 14 jets now
part of the discussion. >> maria: it sure does feel that putin is saying, look, you don't matter president obama, you just need to step aside. >> it's clear-failed leadership and putin is the strong one and obama is weak one, very sad but very true. >> maria: yeah, this can certainly school late. what do you think? >> these are concerning at very frightening times. the world knows that president obama is a weak leader, not only do we know but the whole world knows from the red line, to what went on in the un. obama is just saying, we still need to wait and see and research, meanwhile the world is blowing up. >> maria: you know, the fact that obama administration has been clear about who assad is
and, you know, repeatedly saying assad needs to get out. putin says, no, no, we want to team up with assad in syria. this is our partner. right there you could see that putin is choosing sides here and pushing america out of the way. >> sure, this goes back to the weakness. we see obama on a women's bike with the helmet and putin is wrestling bears or whatever. [laughter] >> they are taking advantage of the situation. >> it was kind of -- maybe under or thought in the white house that if we did this deal with iran on the nuclear program that iran and its alie russia would get on board with us in taking care of syria and they have basically slapped us in the face. >> sure, more to come, again, this is very concerning and obama is, more so than he was when he first ran for president. this is what we got a weak leader on all levels. >> maria: yeah, that's right.
good to have you on the program. thank you for your insight there. hurricane joaquín meanwhile gain ing strike. fox meteorologist maría molina. >> maria: 120 miles per hour slashing the bahamas as we speak. it's moving very slowly and some of the impacts out here but life-threatening flash floods. 20-inches of rain would be possible in some areas. that's very significant across the bahamas and we expect to continue to intensify and feed off the warm water and potentially be a category four by tomorrow. something that we watch very closely.
life-threatening conditions in the bahamas. the big question is what happens in the next hours once it turns northward. high pressure across the atlantic and that will determine how close it gets to the coast and if we will be seeing a landfall from the storm system. it's not a guaranty that any area could see a direct landfall from the storm. what we do know is a lot of heavy rain is possible over the next several days from all of the tropical moisture being so close to the east and west. up and down the east coast and even into the northeast and again, we mentioned the heavy rain. take a look at the forecast model, as you head farther north 4-6-inches of rain would be possible. big concern across the east coast regardless of what we see a land-fall, coastal floodings.
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of hurricane joaquín, storm gaining strength over night. whether it makes landfall in the u.s. it's still unclear. cheryl, good morning to you. >> hey, good morning, maría. there are new reports that twitter cofounder and ceo is going to take the reins of the company's ceo while remaining ceo. that was the big controversy. he served as ceo when he stepped down in 2008. wal-mart is cutting 500 jobs in arkansas headquarters. it has eaten profits. finally october 1st, yes, your rent is due but deadline, retailers will be held liable
for any losses due to credit card and consumers will change habit as well. let ready for embedded credit card, more than 60 thaw consumers -- 60,000 consumers without. >> maria: i was surprised the other day the store made me use that, that i did have a chip in the card. you wait. and the chip is there and it reads everything. rather than swiping. i just did it the other day. >> how many retailers are ready for this? i think wal-mart is but that's about it. >> you know, this wasn't some government-issued mandate. we are doing this october 1st, so get ready, if a counterfeit card is used for a company that's not ready, they have to
pay for the liability, that's the thing. the companies are going to be on the hook. shifting the -- >> around in europe for a long time. >> maria: the chips in the card, and it works? >> absolutely. >> get ready for that. that's next year. i will bring the story next year. [laughter] >> maria: we are keeping eyes on markets this morning. beginning of fourth quarter. raising hopes of strong reading in september job report. that's coming out tomorrow. that will be a lot of talk this afternoon and set the tone for tomorrow's market, a preview of what to expect right after this. stay with us. ♪ ♪ ♪
>> maria: welcome back, we are tracking developments of hurricane joaquín, the storm is gaining strength, it has gained strength over night. now it's a category three. hurricane joaquín towards the bahamas, whether it makes landfall to the u.s. is unclear. there's some expectation that it comes to the east coast this weekend. markets on this. first day of the new quarter. fourth quarter takes off today. this, of course, ahead of employment numbers that could move the market. tomorrow the big-market mover. 203,000 jobs to have been added last month. they expect unemployment rate to be steady.
investors are bracing for volatile month for markets, where is the best to put your money and ride out the storm? tony rodríguez. you oversee billions of dollars. what are you telling clients as you love to allocate and manage 130 billion in assets? >> we are telling clients despite the fact that there's a lot of uncertainty in the market, everybody concerned about the chinese growth, when is the feds going to have uplift on rates. it has really hit a lot of global markets from equitieses to fixed income. we think there's definitely opportunity and get credit space
. >> maria: you mentioned energy. >> that's been a beatup area. a lot of companies are being priced for 20-30-dollar oil. oil stabilize in here and have a very slow recovery in 2016. lots of companies have had the financial flexibility to survive that and bonds prices more severe environment. >> maria: this is the pond you play in, what's your take on energy right now? >> i agree completely with tony. i think we are going to see pricing to the next 12 months, 40's, maybe creeping up 50's in probably about 12 months or so it'll start getting more acceptable ranges of 60's, and so i agree that it's going to be a slow recovery in the next 12-18 months and i think we'll be in good shape at that point.
>> is there a danger though within all bond funds in some way because the big mistake that people have made, it seems, there's an overfixation on interest rate risks. they don't understand the credit risks that they've been taking. i mean, a lot of the professionals managers in the way that portfolios were structured, high-yield contract, i mean, i worry that there is -- there could be another down this this and people don't understand the risks they are taking in bond funds. >> i do think there's some misunderstanding when they're buying a bond with flow rate. there could be a mix-match. a lot of investors might believe that there's greater le
dlequidity. i don't think it's going to cause a large systemic, but i think it's going to be disappointed investors when they see the results of particular investment not really coin -- coinciding with what they expect. >> maria: two step forward and one step back. >> it's a huge issue. we need to hear more about thoughts about the economy and how individuals are harmed, lower-range people are unable to really get a substantial return with their small investments -- i was privilege today meet with janet earlier this year with a group of conservatives. our main concern is that with
low interest rates, you know, lower-income families are unable to try to save and have their money -- >> maria: you're not getting any yield. >> she's a disaster. i'm just waiting to trump because that's his general word. obama is a disaster. i'm assuming he would call the same thing. >> clown. [laughter] >> maría narp any economic plan from the gop candidates that sort of could work to move jobs in growth? >> what i'm hearing of most all the republican side is -- is progrowth -- proenergy policies, you know, keystone, everything else. i think that -- we see in my opinion what the change of leadership on the republican side, i think that would stimulate the economy quite a bit. obama has done anything
imaginable to hurt business. i think a change in that leadership would be a tremendous change for the country and i'm seeing between most all the candidates, you know, they are taking very similar stances and wanting to really stimulate the economy and bring taxes down, reduce regulations. >> maria: you're talking about the texas model? >> that's right, low regulations, low taxes and just anything possible to stimulate business. it has been incredibly successful. since year 2000, 31% of sector jobs happen in texas. taxes are lower and regulations are lower and it's just a better place to do business. >> maria: i think the points you make are all great. so much job creation has been in around texas, not just oil but manufacturing story.
so what happens now that oil prices are in the 40's? does that impact the employment story since we've been having texas relying on texas and the creation of jobs so much. >> it's clearly hurt oil. in texas it's only 6% of the economy. texas is supposed to gain 250,000 new jobs roughly this year which is more than we averaged in the past ten years which would come as shock as most in the year that oil went to 110 to 45. texas is doing very, very well because of our probusiness stance even though our main industry oil is -- is being hit pretty hard. you mentioned something the candidates could talk about, regulations that you alluded to are killing the jobs in terms of cost of fuel industry. >> absolutely.
>> you talk about obama and how regulations are driving jobs out of the country and have facilities shut down all together, and also the energy prices going up. that's something to talk about. >> maria: tony rodríguez, great to have you on the program. we'll be right back. special coverage tomorrow on jobs. stay with us. ♪ ♪ ♪ ...as a combination of see products.. and customers. every on-time arrival is backed by thousands of od employees, ...who make sure the millions of products we ship arrive without damages. because od employees treat customer service... ...like our most important delivery.
maria: i am maria bartiroma, it is thursday october 1st, it is kickoff to the fourth quarter, fox business network's david manning -- dagen mcdowell, conservative review this morning. hurricane joaquin now i category 3 storm that could reach the united states east coast bite this weekend, forecasters warning of a storm has potential to drench coastal's the causing flooding problems starting next week, russian hackers attempted use of fishing scam to penetrate
hillary clinton's private e-mail like john. we know this as a fact as the state department released a new batch of e-mails somef which are considered classified. three of the newly classified e-mails have been marked secret by the state department. team and still classified congress will not be able to view them. john kerry working with russian counterparts to prevent an escalation in attention above sea area. weathered is working is another question. russian jets, targeting as the regime forces. >> reporter: seen it intensified by forces beyond any one's control. >> the first quarter, starting things of positive, a higher opening with the dow jones industrial average up 100
points, nasdaq composite 35 points, higher across the board in the u.s. a positive day in europe as stocks in the uk and cac quarante in paris, the dax index trading lower, we did get manufacturing data out overnight throughout europe and asia and they were below expectations. two more divisions in baseball settled last night, the toronto blue jays are american league east leaders and the cardinals are the central division. usa today poll shows donald trump still on top of the gop race but the gap between first and second is shrinking, trump has 23% of the vote, ben carson and carly fiorina are closing in, they both have 13% of the vote. joining us is julie, thanks for joining us, your observations on the latest moves in these polls? >> on a republican side donald trump seems to me i keep saying this i will probably be proven
wrong but seems to be running out of steam lately, the side show is over for the republicans as they gear up for new hampshire and iowa but look at what is going on right now. the establishment candidate on the republican side certainly scott walker is out of the race, still lagging behind, surprisingly so from people you never thought would get much traction in iowa or new have forget the nomination which are the non establishment candidates, remains to be seen what will happen. maria: the news of the day has to be considered. when you look at what is going on in syria with russia basically strong arming the u.s. saying get out of a way, we are going to deal with the air strikes, we know the pentagon told us yesterday as they did not target isis, they are targeting entire bashar al-assad rebels. that empowers people like donald trump. >> what russia is doing in syria is a huge mistake for the
russians. this is afghanistan times 2 and the russian people, 39% of the russian people, they only think this is a good idea, he does not have supported his own home country. having said that you are right, people like donald trump are saying things, a lot of people saying things a lot of people secretly privately believe which is what is going on with refugees in mexico, people from mexico and coming from syria. i don't agree with them but there's a strain of american political thought that he has tapped into. dagen: i will back you up on the numbers, dan henninger of the wall street journal calls it wonderland and is calling for donald trump to get out of the race, time to retire, if you got out of atlantic city your candidacy is like atlantic city, you need to get going. the numbers in that poll, dan says donald trump has lost a quarter of his support since that september 16th debate, the
clear politics average is down 23% from 30%, we look at these numbers, still leading but he has lost some get up and go. >> what we set about refugees is resonating with people who are thinking that, talking to one hundred thousand refugees, i am hearing 200,000. when i become president they're going back. >> a realistic to send them back, every well-meaning person knows that but secondly, for my personal beliefs, always welcome refugees, how this changed today, there's a strain especially in the republican party of people to say enough is enough, he has tapped into that. the people who have given this more nuance, someone like jeb bush, a more nuanced on immigration generally, he is not
appealing what is happening this year in the republican primary. >> jeb bush has lost 50% of his support since july. can he get it back? >> i don't think so. i could be wrong but i think americans are asking for something new. i think they don't want another clinton or bush. maria: what about the clinton e-mails? you have the fact that russian attackers tried five times to break into her private e-mail server. >> we don't know if there allied with russian government or not. the russian government much better wracking than the russian actors in st. petersburg. i continue to be puzzled by this e-mail thing. i don't understand the need for it, the paranoia and secrecy that has always run through the clintons and i don't understand why the controversy continues to dog for accepted is self manufactured and we have to live
with it as democrats. you are looking at joe biden, the interest in joe biden and bernie sanders doing so well with fund-raising. there are concerns in the democratic party that this stuff will keep emanating until november 2016. >> people say he has 32 weeks to come in. >> he says he is missing the first debate, cnn broke a story that he is not going to make a first debate which means he will take his time and to some extent if anybody has a good excuse it is joe biden, people understand he is going through a process personally and they're giving him room to do that but he does have to file the filing deadlines and other things, highway is a few months away. >> first debate is october 13th that he says he is this again. dagen: the clinton camp is very worried, trying to keep joe biden in check and wrap up any uncommitted democratic donors, they are on the warpath and i don't know if i want to be on
the other side of that if i am joe biden. >> either go out as statesmen beloved by the democratic party today and probably the highest approval ratings in his life, he could declare a lot of democrats begging him to run. but i think from a personal perspective he has to work through -- dagen: a whisper campaigns that he is unstable and ready for that. >> everybody loves joe biden but let's not forget the obama part of this. he needs to ensure he can separate himself from the obama economics and not be a third obama presidency because people i disappointed. >> cannot separate himself because he is closer to obama van hillary. he is politically and legally in trouble, they are not going to go away, it will continue to come out because we don't know everything that happened in
terms of but e-mail. that who is going to harm her. much worse. >> those e-mails, but recovered, there will be a lot of things on those that will be a big problem. >> not going away anytime soon. >> facebook introducing new features on the mobile apps including an update on your profile picture. nicole: 46 minutes a day, that they are trying to make this even more visually stimulating, face book making a few changes this quarter starting with low-profile pictor update the fields long overdue for any, allowing users to record a seven second of video replacing your old profile picture. the video will be a continuous loop, and the video option is available to some on the
facebook mobile apps not just for a few lucky users, tested assured video feature, in california and the u.k. to the rest of us, hopefully get our hands on this but one reason they are doing the profile page is 4 billion times a day on average is how many people had those profile pictures, you can make a seven second looping video of what ever you love and get your message out. maria: thank you so much. we will watch that. we are going to take a short break, start your day with lauren simonetti and nicole on fox business at 5:00 a.m. eastern right before "mornings with maria". oil prices down 20%, taking the energy sector down with it, earnings plummeting in the sector. we will talk with former shell oil ceo who will join the conversation coming. back in a moment. hi.
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maria: stormy weekend, tracking the latest developments of hurricane joaquin, the storm gaining strain, and our category 3 with sustained winds of 120 miles an hour, hurricane joaquin moving toward the bow hamas, whether it makes landfall in the u.s. is unclear but many expect it will make landfall on the coast, east coast by sunday.
we have got latest as they come in. a 24% decline in the quarter. we are seeing a pretty good move this morning up 2% as we kick off a new quarter. >> really big move, we got that chinese manufacturing data and was a disaster. improved a little bit last month and that is good for energy demand. the others thing you have to look at in this market is production falling. one of the worst quarters we see in energy in years we are seeing a major cutback in production. we got a report from the department of energy showing production has fallen seven of the last eight weeks and opec production fell by 230,000 barrels, that is a sign there is a contraction on the production side so when production is down prices are up. maria: that makes sense. what to bring in john hofmeister, thanks for joining
the conversation. what is your take on what is going on this morning and over the last several months in terms of oil, do you expect a big impact in terms of jobs with prices where they are? >> yes. i think we will see continuing decline in jobs for the next couple months but let's not forget there is natural decline taking place in the reservoirs, some productions declined because of this natural attrition in the oil field. even though jobs will decrease in the short term because everyone is looking at their budgets for 2016 is going to be another rough year from a jobs standpoint until the second half of the year, i do think the decline in production will continue. by next june 1 million barrels a day from where we were last june and that is the big cat and if there's any global demand increased this will be at demand led price recovery.
it is going to be, it will be recovering sometime during next year. how much, too soon to tell. maria: jim mcalester made a point that so many jobs have been created in the energy sector since 2007 which makes me feel like that is why the dog story is going to get impacted. explain your business and how you see oil impacting things. >> what i see is in the texas market, a lot of people's surprise, it is not all energy, 6% of the economy is extreme energy, and the upstream energy sector is going to get hit very hard and i agree with john it will have continued layoffs but the texas economy doing great. on the commercial real-estate business, we are seeing housing fundamentals, development fundamentals are extremely
strong, growth is extremely strong, nine of the top ten fastest-growing cities are in texas, so texas is doing really well to a lot of people's surprise even though energy is going through a tough time and it will be another tough year or so and we will be pulling out a back in a good spot again. >> how do you see it? >> the same way. one thing that ever gets attention is the downstream business in the industry is doing very well. the record number of miles driven in this country is keeping the refineries operating at maximum capacity and i do think consumers enjoy the low prices but let's be clear. over the longer term we should not continue to live in this volatile world of oil only as our transportation fuel and i do think we need to look at how we expand transportation fuel into natural gas. north america that would be a
godsend to the industry if we were building and investing in a new infrastructure for natural gas derived fuel so the we don't continue to depend on the swinging open gate of volatility that we face periodically from the oil patch and by its self and so if we are looking at a sustained energy future we should not just stick with oil, we need to move natural gas into mainstream fuel. dagen: boone pickens has talked about that for years now. where's the money going to come from? you have had so few natural gas vehicles on the market, fewer today than a few years ago and you don't have the infrastructure in place to fill up your car with natural-gas. >> absolutely wright. i am not just talking see in gee but ethanol land methanol where we can build an industry.
what it needs and this is where washington falls flat on its face everytime, what we need are some signals, some signals either in the tax structure, signals in the guidance to congress and the white house to provide the industry the we want to move away from oil as though only fuel for transportation and move in other directions and the entrepreneurs of this country, the wealth that is sitting idle will go to work and create the infrastructure. >> the senate banking committee is prepping a bill entitled the american crude-oil exporting quality act. we need an energy plan for the future and you're seeing value destruction of billions of dollars of investment, loss of 200,000 high-paying jobs because we don't have the right policies in place. >> it comes down to the articulated public policy of the nation with respect to building up holistic energy framework for
the future and does include all of the above. is nothing but rhetoric, empty rhetoric from empty minds the don't want to take any accountability for the future of america's energy and that is a mistake. maria: thanks for joining us, rough third quarter for stocks, what will fourth quarter look like, we will navigate it for you next. the internet of things. what we're recommending as your consultants... the new consultants are here. it's not just big data, its bigger data. we're beta testing the new wearable interface...
are very strong -- >> jobs number, is it translating nationally? >> i don't know how things are looking nationally but i cannot tell you being in texas, as that market is doing extremely well despite the low price. maria: you are looking at real-estate. at prices got away from you in any way? is getting expensive. >> it has been -- there hasn't been as spike like we saw in the sub prime situation. gradual movement up, median home prices in texas at an all-time high at but not running up, dead gradually moving up, the supply-demand situation is really good. more of demand than supply, nothing is overout bills, very healthy real-estate market in
texas. the speaking of that the media apartment price in new york city is just shy of $1 million which means don't move to new york city. in my favorite story really quickly is target is expanding, price match for the dot.com, there are 29 web sites that will priced at including walmart and amazon, that is a signal that could be a tough holiday shopping season. mary maggie would expect the story to help consumers. final thoughts? >> lots to talk about, you look at the candidate. in terms of oil vladimir putin is flexing his muscle because you wants oil to go up, depending on oil for the economy. >> garry kasparov of made the point that because of what is going on with oil russia's economy has fallen out of bed. he has to trade on fear and
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just like eddie, the first step to reaching your retirement goals is to visualize them. then, let the principal help you get there. join us as we celebrate eddie's retirement, and start planning your own. maria:-maria bartiroma, thursday october 1st, a kickoff to the fourth quarter of the year, sandra smith, and keith mccullough, getting into markets, new data out this morning, russian hackers attempt to use of fishing scam to penetrate hillary clinton's private e-mail like count. the news coming and state department released a new batch of e-mails which are considered classified. three of the classified e-mails have been marked secret by the state department in isn't so classified even congress cannot use them. john kerry doing his best he are
working with russian counterparts to prevent an escalation in tensions over see me a. russian jets have conducted at least 30 strikes targeting entire regime forces. not necessarily isis. russia saying it is targeting isis. >> we also agreed is imperative to find a solution to this conflict and to avoid escalating in any way or seeing it intensified by forces beyond anybody's control. maria: in the u.s. the government and running with our to spare, a temporary spending bill to avert a shutdown. the short term measure last until december 11th setting of a budget battle for the end of the year. take a look at these pictures, hurricane joaquin is a category 3 storm. it could reach the u.s. east coast by the weekend, forecasters warning the storm has potential to drenched coastal states causing flooding problems at the start of next
week, expected to come to the east coast by sunday. first day of the fourth quarter expecting a higher open for broader averages, kicking off the new quarter, last three months of the year and the upside the dow jones industrial average of winning up 150 points on top of 200 plus, mixed-across europe, we started pretty good but we are getting weaker than expected numbers, manufacturing data, the isn't the 183 points, the cac quarante in paris kicking up steam, up 45 and the dax index has been flat this morning showing a gain of 11. twitter is said to name co-founder eject dorothea's current ceo. the announcement as early as today. >> celebrating the first division panel in 22 years. for the third consecutive season the cardinals are the champions of the central division, the st. louis cardinals. maria: for the lead two more
division than major league baseball but toronto blue jays are thethe toronto blue jays are the american league east winners. russian linked hackers tried five times to access clinton's private e-mail server, unclear whether she clicked on any attachments were exposed her account. joining us is head of policy research and clifton, good to see you, thanks for joining us. how big a deal is this? >> it keeps getting bigger every day, this started in june and it feels like a drip drip drip, keep stripping out. we have to be careful interpreting the story because first we don't know if russian hackers got in, she could make a nice human her system didn't allow that to happen but what we are starting to see is the case for having that private server is being demolished in all these news stories coming out and
specifically just the threat of this happening shows how ill-advised this was and what this is doing is encouraging joe biden to consider getting in the race because we don't know what else is out there, we have another 15,000 e-mails to go before the iowa caucus. >> should she capitulated some point? this is getting embarrassing that this point. >> you have to go through seven stages and we ask that to get there, we're in stage two or three that you are recognizing this is a problem and then you have to see if you can determine it but at the end of the day her problems are bigger than we are seeing in today's news, transmission of satellites by images going through these systems, she also submitted a signature saying she submitted all of her e-mails we found out friday night they found e-mails she hadn't submitted, that is a case of perjury said your point i believe she will have to get out but we have another two months of this. sandra: what kind of time frame are we looking at for a potential joe biden run?
are we looking at days, weeks? he is at risk of being left off the ballot. >> absolutely correct. if you look at bill clinton 1992 he got in the race oct. first 1991. the equivalent of today. in this race you cannot do that in this day and age because of infrastructure purposes but that to the point, he has got to get on the state ballots, he is at risk of losing being participating in these states if he does not get in so to answer your question if he is going to get in it is probably a matter of days before he gets in and why is this news is important. maria: in our last hour julie said he has already said he is missing the first democratic debate, that is on october 13th so he is going to miss that because hillary -- >> that day. he has time to get in. >> at day. two weeks. >> does it matter?
isn't one of the big positives the is not part of a for a? do you have to -- this is a question for you. logistically do you have to be part of a debate to be a candidate? can't you enter when you want because the field is so weak? >> i don't believe that to be the case. will be a dogfight of a race, a base of 30%, birdy has 20%, it will be a three way race, not guaranteed to get it assuming she doesn't get out. one more point birdy sanders, $2,500 in the last quarter, he is getting momentum. maria: it was cnn that reported that joe biden will miss the first debate on october 3rd teens. cnn is reporting the democratic sources are telling him he decided he is missing the debate. >> they would allow him if he did. maria: the biggest story in
syria. here comes vladimir putin strong arming obama. we were is there overs syria during a round of airstrikes against isis. vladimir putin says no, we want to team up with bashar al-assad, get out of the way, we are not sure they're targeting isis or talking c i a backed rebels who are against bashar al-assad. what is your take on this? >> this is really great risk, escalating since last ripple went in to crimea, takes credit steps and continues to push it, he saw bashar al-assad on the verge of being thrown out, had to move quickly, bill taser bases and i think his actions are mostly motivated by trying to keep bashar al-assad in police and that is why those attacks are not located around isis areas but rebels that have been going after the government itself and if there's any chance of escalation it is on the bus source of greater escalation
because every time we talk about the escalating they seem to be escalating in and this -- the markets have to digest this. maria: to be fair we have had lines that serve russian defense ministry says targets for air strikes in syria are the basis of confirmed intelligence and they have hit four islamic state targets in syria over night but there is a debate whether the going after isis or the people who are against bashar al-assad. the bottom line is oil prices going up? >> i think so. >> letter to need to oil up. >> domestically he needs to show he is a big player on the international stage to get his approval ratings up while in recession and need the oil prices to go. crude-oil inventories are at the highest level ever. that our supply and demand issue is. >> the cocktail, you get that syrian headline news with the
vladimir putin incentive combined with the bad jobs report, oil going up. maria: you wonder how high it can go and whether we are in for a new treat the next couple months. what does that do if oil goes up? >> interesting to see them pivot because the market is going got. maria: are you working on that for your clients? >> we are. you will see inflation expectations come up. not fair the oil is going up. reading prospect of the fed raising rates faster than people expect. maria: we are watching you report, thanks. hurricane joaquin gaining strength, upgraded to a category 3 status as a heads towards the east coast. mario molina in the weather center has the scoop. >> looks like the storm has been intensifying very quickly over the last 24 hours, category 3 storm with maximum sustained winds at 20 miles an hour and
stronger gusts, is hitting the bahamas with heavy rain locally 20 inches possible and it is a very slow mover so for the bahamas that means you are going to be dealing with life-threatening conditions for many hours possibly through early tomorrow morning, the storm still moving to the west southwest at 5 miles per hour, we expect the northward turn over the next 36 hours and there's a lot of uncertainty it is going to be making landfall to the eastern u.s. or not. two of our computer models we really trust out here, european model and the american model are you can see the latest model runs keep the storm off the east coast so that is a big development and we will see what that means for the national hurricane center in the the track as we head into the camera day. across the eastern u.s. aged going northward, high-pressure across the atlantic, helping to d darman whether or not our storm will make landfall in the eastern u.s. updated trek from
the national hurricane center keeping the storm right off the coast. one we know this means for the u.s. this weekend is very heavy rain, some areas could potentially pick up a foot of rain especially across north carolina, beach erosion, coastal flooding, we have watches in effect across the east coast into tomorrow morning. maria: do you think it is going to hit, shouldn't ask about new york, should i? >> we still don't know. we still don't know. anyone who tells you they know where it will make landfall is lying. got to keep close watch on it. maria: mario molina with the latest and worst quarter since 2011. will we see a rebound over the next birdie? we are breaking down what to expect on the first day of the fourth quarter of the year, looking at other headlines we are watching in the top of the wall street journal, took over 1,000 days but the federal
maria: it is deadline date for credit card technology across the country. >> retailers will be held fully liable for any losses due to credit card fraud if they are not geared up for new more secured chip cards and consumers change their habits too, and outgoing house speaker john boehner, a date for leadership
elections, at the end of a month. as we start, the last quarter of 2015 futures point to a higher open. after coming off of their worst quarter since 2011. energy, materials, health care, all these sectors took a beating over the last three month and remember too since 2011 we had the horrible third quarter, next quarter, the fourth quarter of that year was a great quarter. you can shout at the end of a third quarter, you missed everything and we keep having a debate and how do you get out of stocks, go to cash, could be a dangerous move this year more than ever. >> coming out of ku 4, this thing called quantitative easing iii, there's a huge catalysts. maybe i would agree that if we
had quantitative easing par 4, that would be the money of all capitals, i will take all the cash and by all the goals, and and no economic reason at all. >> and and as it continues allocating to gold. more interested in oil and i have ever been, oil is up more than the isn't the futures. global growth slowing, plus federal reserve that has to get more dovish has been long lost, it could translate to down dollar which would be -- maria: in 2011 of the european economy, everything was going to
hell in a handbasket in europe, china is the same thing, it is groundhog day. >> purchasing managers' indexes out slower for longer is what you are saying that you had asia and european p.m. is, earlier in the day you tweeted-out that they're showing us the global story continues to slow and one of our guests earlier said the chinese bmi, what is that? >> it doesn't mean anything to me but the reality is if you look at where people have been they have gone from growth is good to it is not that bad. not that bad. dagen: even if you are talking about a global economy where growth is slowing, up talking to about growth. you have a growing global population, people moving from rural areas or urban areas buying cars for the first time,
metal and energy, hasn't that been the story? >> there's always a story for commodity bulls that is not currency related. this guy named now office said there won't be enough people in the world, the case on commodities is purely for me, if the fed gets more dovish and pushes on december, takes rate hikes out of the game which the bond market, no one is talking about that. if you are bond, 205 on a ten year youth killed it. it is getting no air time at all, people talk about how bearish people are on socks, not bullish enough on bonds, as you are bearish enough on gross your bullish on bonds, is a simple thing and a lot of non equity people are forced to seize this because that is the score on the board. maria: the most important things, the russell 2,000, get into that at some point and a
ten year yields, but can you pass on december? can they not raise rates at all? you have been right this time but are they going to pass in december? >> hostage to the calendar. it is a bomb and the bad jobs report in front of the so they have to deal with the data. when you look ahead line rainbows with gdp at 3.7%, that is different than gdp. that will fade like a flower. >> that is their problem. look at what markets have done since the last press conference. >> credibility is an entirely different situation. >> a central planner. >> the hurricane has been upgraded to a category 3 storm. and an update on the hurricane in the past when we come right back.
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maria: a lot of developments in terms of markets, oil prices on the way up again, national average for gasoline $2.21, that is down from last year. oil prices have declined 50% in that time, gasoline prices have moved, if you look at crude-oil tensions happening in syria are in packing this market, phil flynn said the cme group in chicago, inching toward 50 of the 2.5%, what is the sentiment
down fare? >> not only do we have increased geopolitical risk because of what russia is doing in syria but more and more signs of decline, and production of 40,000 barrels a day last week. and part of this has to do with hurricane joaquin, but really most of the big price spikes in the midwest, they think this hurricane will hit indiana. i don't know. refinery problems in the midwest, turnarounds, you can't underestimate this market. maria: phil flynn, you have been looking at energy. a started to buy at. >> the reality, and volatility is key in the oil market.
if you look at the equivalent of the vix in the oil market trending 50 to 60, that is breaking down towards 45 and lower. if you want to lane of oil for really need more volatility. after something crashes you wait for volatility to clear, is not that complicated, the reality is that is what i'm looking for. the two catalysts are clear and present dangers, syria obviously, and the federal reserve getting more dovish and bullish for oil period. maria: oil is the commodity, not the stock, you're getting away from those. there has been an unbelievable amount of fat and na as the wall street journal reported yesterday with the thought oil producers despite the fact we isn't oil prices down. >> oil stocks, if you look at exxon, very unlikely it tested below the four year end. but again how much of that do you want to own as an
institutional investor and can you get out? i think it is a more day trade. maria: the kickoff to the fourth quarter with a major investor joining the conversation telling us where he thinks the best place for your money is at the end of the year. we will be right back, we expect a rally of stocks today.
bearish. maria: good thursday morning i am maria bartiromo it is thursday, october 1 kickoff to fourth quarter of the year fox business network sandra smith hedgeye ceo keith mccullough we will talk, first hurricane joaquin category three could reach east coast in u.s. by this weekend, forecasters are warning the storm has the
potential to drench coastal states causing flooding, the start of next week, russian linked hackers attempting to use a phishing scam to penetrate hillary clinton's private e-mail account five times state department reached e-mails some considered classified three have been cashed sooebt by state department so classified that even congress will not be able to view them, secretary of state john kerry doing best pr in syria, size he is working with russian counterparts to prevent escalation in tension over syria, this morning, russian jets conducted at least 30 strikes tarting antiregime forces says no, no we are targeting isis. >> we also agreed, that it is imperative to find the solution to this conflict and to avoid escalating it in any way or seeing it intensified by forces beyond anybody's
control. . >> we're following that breaking story closely first look at markets here this is first day of the fourth quarter october about 1, futures indicating we will see a higher opening this morning, for the broader averages off best levels of the morning i should point out dow jones industrial average expected to open up about 50 points nasdaq expected to open up about 20 points, we had a number of manufacturing reports out, in asia, and europe, this morning, and overnight going through them with keith mccullough in a second, positive o for europe as well stocks off in england france boating higher in germany a rollover there germany redaction index firmly negative now. >> blue jays, celebrate first division title, 22 years. for the third consecutive cardinals champions central division st. louis cardinals. >> two more in major league baseball societaled last night
blue jays the earn a league easy winners st. louis card nals won national league central division, money looking for sap heaven amid volatility should turn are to convertible ponds according to next guess from calamos investments chairman ceo global coachieve investment officer with 24 billion dollars in assets under management great to see you thank you for joining us particularly now as we kick off new quarter after what are was the worst quarter third quarter -- what do you do now after where we came off? >> well, you know i think what you don't do is panic out of market here, i know i think that is what happens in the volatility we're seeing where you have a lot of individual investors, just get whipsawed out of the market the wrong time. so i think i'm looking, forward to much better fourth quarter in here, and i think i would be more worried if i
thought there was a recession, about to happen. i don't think there is a recession, i think we are still in a slow growth environment and from that point of view we are positive but, volatility is going to continue to be very, very high, in here. >> that is the crux of the debate keith mccullough looking at pmi reports purchasing managers index yesterday pmi in u.s. indicated contraction. >> a national recession people game trying to game chinese number yesterday the chicago pmive number from 54.4 to 48.7, which is by are all mers contractionry recessionary number does that worry you recessionary fear into play. >> we have been more defense in here, we are looking at numbers just like, you are, you know. week-to-week, day-to-day. but still does seem over all we're in a slow growth we don't want to just language out one number, in there.
>> a better question i think how did we get to all time bubble high on slow growth numbers you know? ing we have through multiple about bubbles 2000, 2007 as you know 2015, the all-time high in the stock market didn't quite have economic fundamentals you might think. >> i yeah, well we still were in a slow growth environment, you know, in that -- >> no alternative no alternative you got federal reserve with easy money where you going to put money,how we got there searching for yield. >> quite frankly i am more worried about bond market and equity snooshths what is it telling you -- >> the bond market, is really -- i have seen this happen in the past people are hiding in the bond market and interest rates take off, go up, and here they think they are in a safe place they get hammered, so -- >> didn't you say same thing about stocks people thought they were safe along the fangs, everything else biotech stocks got hammered we have bn long bonds didn't get hammered
last three months. >> that is a good point, i think one of the things throughs mu there is to a much emphasis on fed not enough on fiscal policy. >> for sure. >> health care is a good example of that, a tweet comes out, in the whole -- you know, what it tells you that investors are very concerned about fiscal policy. >> yeah. >> did you see hillary clinton tweet on drug prices. >> tcat list for biotechs. >> worried about where he is fiscal policy too much regulation, slowing growth. there are going to control drug prices for sinus. >> the next catalyst. >> what does bernie sanders raising a record amount of money mean for the next stage of policy catalysts. >> i think that is why we're going to have volatility, you
know, this is going to go on for, months and months, as you know. so every headlined is going to be -- >> a lot of people have a hard time tying together the politics of business. sandra: and spoken like true chicago guy we watched bond market before stock market, you said eloquently in chicago accent, didn't he, by the way, can you cub fan you've got to put money to work assets under management there are people want to be aggressive in this environment if you do what do you do right now? >> well, i think it is it is not whether to boo in stocks or bonds it is rough your weighting one against the here i go one hundred percent one way one hundred percent the other way, so on fixed income side, on the bond side, use of alternatives, you know, we do convertible arbitrage in that
convertible bonds, convertible strategies there because it really takes away a lot of interest rate risk, and that is what we have there. right now. and in the even in the equity markets, at the convertibles tend to dampen volatility and quite frankly, i am in the camp that would i like to see us, see rates go up, and get into a normal environment. >> to do it this year anybody's guess. >> it is anybody's guess, you know. it is -- it is not -- if they do it, i know. it is when -- >> when might be 2016. >> this is one of the best ideas in a long time nobody else had i had i play governmental with frank the other day from morgan stanley a long time talking about how recognize about attractive convert market is misstood. >> usually convertibles as
part of the factoids income allocation makes a lot of sense because over the past 20 years, every time interest rates went up convertibles had outperformed the bond market. >> so buy bonds, converts, how does it work? >> explain is to advisories don't understand convertible bonds. >> convertible bonds, are they have all the bond about attributes what they of think time as holder of that bond you can convert into a specified number of shares of stock. >> convert into stock. >> right, so the -- the positive of that is you get the upside of the stock but you have the downside safety of the bond about attributes doesn't mean any down sided it cushions the downside. >> of about you go i got to get a word on energy oil close to 50 dollars you are under weight energy. >> again, the positive on energy prices is still -- we haven't seen it happen yet but
the consumer, like a tax cut for consumer we hope that skwloopz how come it hasn't happened yet. >> getting taxed everywhere else health care rent look at -- >> that is absolutely invite you sayh save 100 at gas pitcher you pay 106 for affordable care, it is health care, and you are right. >> it does seem, though, that the oil is going into much more of a supply and demand rather an controlled price. and that is what we've seen over many decades, it is more if a controlled price now much more supply and demand, how positive is it? that the america north america, south america can be independent of energy. >> totally. >> think about what that has to do with our foreign policy savings and others that is a positive, may be i am just long term bullish here but -- >> you see the glass half full, john --. good to see you always. >> thanks.
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latest developments of hurricane joaquin gaining strength overnight now category 3 hurricane, joaquin toward the baum, if split whether the storm will make landfall in the u.s. east coast i wants certainly bracing for heavy rain, we are bringing you the very latest as they come in. meanwhile, tensions in syria on the rise, as russia continues its bombing campaign, in that country, cheryl casone now with that story, breaking. cheryl: good morning maria that is right the russian defen ministry says 8 strikes in past 24 hours eliminating four unifies targets not only against isis held are targets but cia backed rebel strong the holds fighting against bashar al-assad. the nfl has band celebrations -- alive and well in soccer collect out the data sock service player nailing a game tying penalty kick runs into the stands, and wait for it wait for it because there is a
whole like beer situation there you go chugd a beer. >> good job video for you check out video facebook dramatic water level drop this is folsom lake 25 miles north of sacramento california drought in fourth year caused reservoir levels to drop to historically low levels all over the state watching it kind of a shock to see what happened in the golden state back to you. maria: cheryl we are taking a short break as we look at futures well off the highs of the morning, take a look expecting a higher opening but gains have been cut in half, or more back in a moment. ♪ ♪ ♪
. maria: welcome back search maybe over for permanent leadership at twitter jo lining kent on the story good morning. >> good morning, twitter may hire cofounder jack dorsey as permanent ceo 12 weeks after he rejoined as interim ceo forcing dorsey a product unworthy could be appointed as early as this morning twitter shares popping 5% at close as stock hit all-time low, back in august. now since dorsey has taken over interim ceo launched several new products aimed at improving that lagging user growth increasing user engagement of 316 million users, dorsey the founder and ceo of square at mobile payments company expected to go public he will be busy expected to stay in that role, even if he is named as permanent ceo, at twitter, maria on latest earnings call dorsey asked investors be
patient maybe what they have been waiting for but for now company not commenting. >> thanks so much watching that keeping eye on markets, this morning, of course, because we are looking at a higher opening, but doesn't make sense on some level when you look at the story as you have been analyzing pmi numbers. >> not just pmi as calamos pointing out this has been three month rolling we have grobl growth data slowing getting worse when people we had q3 gdp number your catalyst in and of itself, i think you have to consider the jobs report tomorrow we are obviously going to talk about rate of change, in gains in the labor markets peaked, peaked in february again you have a late cycle slowdown in u.s. a lot of people hanging hats on the idea u.s. is still the best house in a bad neighborhood last i checked that the neighborhood continues to devalue you have u.s. petitioned on to that global economy that has not changed. sandra: for those want to believe u.s. stock market is going to slowly trend higher,
what would be the major catalyst for that? i mean we see earnings growth, would it be the fed eventually raising interest rates, providing confidence for the markets what is next -- >> go back when i was bullish out of 2012, you need growth to accelerate what we look for enumerate of change needs to go from bad to less bad to good, and the problem is in the fourth quarter we call it difficult comparison of the jeer most of the cycle this is 77 months going on deep and average u.s. cycle is 58 months along the end of the cycle probability falls that growth reaccelerates i look for growth so accelerate revenues and teens are accelerate a, by the way, neither are happening fund meantlifts revert to valuation kiss of death in the world when you are wrong -- and as. >> that is not enough. >> marty would say cheap gets cheaper the wrong catalyst
that is the point. >> you were looking at russell 2000 to russell bouncing yesterday but still down 15%. >> the point on russell russell i think looks most likely to move into crash territory first being a 20% peak to trough, decline you've seen that in hang seng in dax in spain you have seen it pretty much everywhere other than u.s. stock market i pick the one that has the worst what we call style factors, small cap you can't get out of them huge hostage revenue exposure to u.s. russell 2000 has 08% revenues come from u.s. a pure play on u.s. growth more than anything else. maria: i don't know if rather be u.s. company 0% were exposure did domestic or china -- sort of screwed both ways, are. >> you did, you did. [laughter] that -- in small midcap,sitting here yesterday don't would i it altogether but time --
>> you kind of like to double down on word you are screwed if the cycle is slowing in u.s. i hope i hope, across -- you and i in this business whole time, asset cycle top 2000, top of 200, of 2015,we had dublz all three of those cycle tops federal reserve cannot congressionally plan growth way from slowing [bell ringing]. >> i mentioned active management hedge funds not had a good quarter. >> i was looking at some numbers, no they are daunting, for some guys they have had a lot of success, i was looking at einhorn on track to post 1st down year since financial crisis -- you are allowed to have a down year doing average annual returns about 20%, just goes to show how difficult the environment is. >> environment is interesting for einhorn i have tremendous amount of respect for
investment style not polyannish type he shorts stocks. >> one of the biggest problems one of his big short positions amazon hasn't got down yet if i am right, spreenl everything is going down the amazons, fangs. world starting to make more i would not bet on him would i bet more on people nafb losing money for the wrong reasons, they think leon coopermans of the world if of you that not to pick on leon they think growth is accelerating in the u.s. i think that is a much more dangerous position to have. >> einhorns problem some industry worst numbers, wets an rationale energy a problem, and also, micron technology was a big loser for him. maria: your take on this video you guys russian billionaire brooklynnets owner teaching team basketball drills duke university
dribbling a ball in one hand a volleyball off the wall one hand off the pole with the other keep up with billionaire. >> multitasking, multifactors where macroanalysis is going to multifactor you've got to be able to do two things at the same time. >> i love it. >> what you are doing is bouncing one hand navel gaigz at dow you are probably coming the wrong thing. >> we will talk about markets ahead of -- >> [laughter] >> we will sit down with washington wisdom arzards owner kennedy for the look at racing industry keep it right here fox business network.
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so you can always be there. ♪ just like eddie, the first step to reaching your retirement goals is to visualize them. then, let the principal help you get there. join us as we celebrate eddie's retirement, and start planning your own. . . maria: good thursday morning welcome back thursday, october s -- first day fourth
quartering sandra smith hedgeye ceo keith mccullough, chairman ceo joining the conversation good to see you guests mom tarly russian linked a heckers attempted to hack hillary clinton e-mail account batch of e-mail some considered classified three have been marked secret by state department deeming so classified congress will not be able to view them in this morning russian jets conducted at least 30 strikes targeting antiregime forces russia says targeting isis built there is a debate, presidential candidate donald trump weighed in on "fox & friends" last hour on that debate. . >> russia destroyed itself when soviet union they spent so much on afghanistan,got bogged down you watch the i get they get bogged down going in getting bogged down again. >> back in u.s. government up with hours to spare house
approving a temporary spending bill to aveteran a shutdown short term measure until december he 11 setting up a budget battle for the end of the year, take a look at hurricane joaquin, now a category three storm could reach u.s. east coast by weekend, forecasters warn storm has portable to drench coastal states causing flooding beginning next week first day fourth quarter futures indicating markets higher today, billed on yesterday's big gains we should point out that this market is well of it the highs, we had been expecting, a gain of better than 100 earlier on, we are now looking at gain on dow about 31 points, nasdaq expected off, about 13 points, s&p, lost much of its earlier rally. >> european stocks off highs of the day although we are looking at -- gains, in the ft100 up 52 points cac quarante in paris up 12 points, dax index, now firmly in the red, down 45 points, on the dax index we've got a number of purchasing administration reports out this morning, overnight in asia and europe largely
showing a continuation of slow growth, reporting twitter to name jack dorsey as ceo permanently could come as early as today. ♪ blue jays, can celebrate first division title, 22 years. second of season cardinals the champions of the central division. maria: two more divisions major league baseball settled last night blue jays, earn a eggries winners karmd nalz won the national league central division back to top story round of hirl e-mails released blake berman in washington with the story good morning to you -- >> hi maria good morning to you as well five e-mails over course of four hours suspected russian hackers bride to breach hillary clinton private e-mail during tenure as secretary of state this was template a fake speeding ticket, from new york state
department of motor vehicles i.t. researcher tells fox in line with a russian linked phishing campaign the clinton campaign downplaying the possibility of a breach, saying in part quote, all these e-mails show is that like millions of other americans, she received spam, however source tells fox the director of the fbi combee told select lawmakers investigators are actively looking for evidence, into if the server was compromised, and maria in all sts recently as last year clinton said last time sheep had driven a car was back in 1996. maria. maria: thanks so much blake watching, blake berman sandra smith do you see latest round of e-mails as sort of another drip, drip or is this impacting her campaign. sandra: this is continues to get worse, and the understanding from the general public is that she compromised and put at risk, our national security. something she really had to be begged to apologize for that is weighing on her in the polls bernie sanders now
gaining a lot of momentum, we are learning as far as the fund-raising capabilities environment politically changing for her changinging fast it took a while now seems having a bigger and bigger impact. >> what you said on sanders safing living daylights out of me about socialism getting a voice going to raise a ton of money until biden in the race a huge about socialist invoices in this country not what this country was made out. >> it was tweeted out she may have he he may have more cash on hand than bernie sanders than hillary. >> for socialism i don't know if you know that. >> mario good to see. >> you we do connect a lot of dots in the political world, but our focus is fundamentals on companies you are concerned about u.s. competitiveness, keeping america strong, getting our balance sheet as a country right. thinking about the tax structure, thinking about
regulation. and jobs and quality of jobs land in hand, we don't make any betts. >> we will talk about that. >> top pick for stock market chairman? >> i would have no problem with anyone, look at united states -- and in 1900, dow jones was 60, finished with a lot of bad -- some blown out of office,and by the year 2000, the market was 12,000. maria: wait a second i got to push back on that i think policy does dictate a fundamental backdrop what keith is about bernie sanders this guy is telling you, that he wants you to put 92% of your earnings to the government you could life on 8% of that, you good with that. >> i am thinking about michael bloom bering making a dollar a day. >> okay. >> if you can life on it i can do it. >> okay. >> let's talk markets in fundamentals here i know that is what you focus on how do a
are. >> request s consumer steshth 70% a benefit, guys that i deal with, filled with gasoline yesterday a dollar 88 -- 1.88 food down in terms of of the out-of-pocket expenditures that are necessary housing stick. sandra: consumers jobs arriving waejz arriving, accelerating rates, then in addition to that, the balance sheet of the consumers fantastic shape except two c areas a little bit too much for student ious a trillion dollars that is a problem addition to that you know, real estate improving in most parts of the country, the other thing you need maria, is you've been doing on more than the policy no help on fall policy if we run it like a controlled business,this economy is going to do quite well. >> what is most important fiscal policy you can't to see materialize. >> i am narrowly defined
whenever i drive on records infrastructure sucks. >> you want infrastructure spending. >> i want it to do in terms of aifonics brinlz, nedges don't w bridge to fall down with people on it because of structurally deficient bridges. >> are you in aggregates people get big government bridges roads highway accounts. >> avonics, la guardia airport, duh, and the whole notion of how you connect airplanes with ground controllers, cybersecurity is part of your federal reserve, so in terms of -- yes hard rocks i have also a been a hard rock guy, and avionica hard to move a quarry mine located right spot do white well asphalt, company in chattanooga small cap crushed,
there is a lot of ways to fundamentally look at this whole narrowly dined brinlz companies make grades, this is uncomplicated. >> you've done a better job than most over the years you just bought the stuff, you also pivoted had health and wellness theme given massive sell-off in health care has that cried a new layer of opportunities that maybe you thought you wouldn't get, helped -- >> the biotechs challenge but keith you ask a very important singling we as country have to deal with this, because even though deficit is the lowest the percentage of gdp, we are 25 trillion dollars -- in the next 10 years if we don't do something, that is you lose economic flexibility a disaster so health and wellness a subset the beginning what is do you eat organic natural, antibiotic we like yogurt, we looked at yogurt something else supersubset with probiotics,
what do you benefit general mills, in yogurt look at that next part is diagnostics, how do you anticipate test forking genes, body parts as population ages, guys want to play hockey women want to play contact football you basically need new shoulders hips and get older need eyes hearing doing a lot of shooting there is a lot of dynamics that go on then you deal with biotech. >> you mentioned real estate, you are saying improvement in the country you woevent have known that listening to janet yellen last week she found it quite depressing when it comes to u.s. real estate markets. >> i don't know which part you are talking about i am talking reversible. >> housing exactly what janet yellen said you -- >> win framework with a parts of the country bubbles in meant 4,000 dollars a square'you could ply a house four bedrooms with that kind
of a down payment, then you have segments of the economy north dakota north dakota -- because of the major shift in drilling, so i am not in the camp that says when i read annual report of lennar, of the builders conventional homes they have a backlog they have problems, getting -- >> you like home birds. >> i like lennar voting stock selling 20% discount from -- insane selling at 42, the regular voting stock 52 so you buy that you short the other one you have a pared trade a lot goes on in that area. >> you mentioned biotech talk about that a second they get crushed obviously, parts policy issue you had that tweet about driving prices but also stocks had gone to levels where a lot of people felt that they weren't sustainable given rates of cash would you buy right now. >> i love dogs. they are 84 million dogs in the united states 77 million
cats. the amount of money being spent on veterinarian drugs not third party pay is rising. >> large phrma owns the driving orbotech two different areas; right? >> plays on what you just said. >> the point is -- >> exactly in other words you can cut and slice biotechs i am not buying etf i am looking at midgets, amount of money on cats and dogs,-- >> every week when i get my little -- >> she is a top consumption in the country. >> it is not third party pay, you pay. it is so think about generic drigz for pets, these are you are go the to be outside -- >> best pet play that you have? >> there is a whole bun i will give you some a directorate in long island a great job another in minneapolis/st. paul. >> -- just -- that is right
after she got -- there she is, so -- >> i think that is a really important dynamic but you know what small niche companies, by one stock if a time deal with the -- specific companies what for example nyi veterinarian taken over 200 dollars smn never thought would get in business warren buffett bought precision castparts why air pocket selling air components to aviation we have to look for things like that. >> does macrostory not matter because you are studying specific balance sheets does macrostory not matter. >> you cannot ignore a big tidal wave you have to also be able to survive knowing how to handle downdrafts in the market look a 40 years compounded 16% unleverageed
diversified four bad years out of that, 2015 was one of those, to the doctor we have become philosophical with an cite genesis chapter 41 verse 26 seven fat years a couple lean years that is good. >> not easy. >> you can't miss all of these great investment ideas, coming out of the program this morning, a short break forget sports leagues why real money in speculating only keep it right here "mornings with maria" back in a moment. ♪ ♪ usa ♪
approaching bahamas, frshths split whether land fall in the united states, today retailers going to be held liable for any losses due to credit card fatherhood if not geared up for new secure chip cards, consumers need to change habits, too cards in a new terminal, and, finally, get this, maria. sandra, a new study says it could be more than 100 years, before women have the same number of top executive jobs as men 100 years, according to mckenzie women surveyed three times more pliel than men to say passed up for projects or they missed assignment due to gender, basically ladies we are going to have women astronauts living on pluto 100 years but then going to get the jobs. >> i don't believe it. >> studies. >> i don't buy. >> it studies show why i am not saying i agree or disagree whatever. >> a hundred years.
>> show that women are more reluctant to ask to move that up ladder they are more reluctant to push themselves they keep themselves, i don't know if this is much about you know, men telling women they can't do it whatever -- i don't know. >> women make choices. >> some say what a sacrifice you made not a sacrifice it is choice. >> a choice. >> exactly, one of the things in study they found i thought interesting women said it had nothing do with children want to go stay home it will was stress of being a ceo being a cfo did not want to take on stress in lives, that is in the study, i mean -- >> here is -- might work in favor of this gament boater partners full time 41% women said they do more child care than parents 30% report more chores to say man had a baby, five days ago, what is it like -- >> i think -- neutral on this
one. >> i will jump in i think the best rule of thumb happenly married only to one lovely person a lot of kids or not is men out there do the damn dishes. you guys. >> garbage out. >> do all stuff she you have doesn't want to be no idea when going to bed are you annoyeth k do what you don't want to do, enjoy it. >> all right. >> my approach is fairly simple. you have when i was a graduate school there were three women in my class now 30%, 35%, so over the next 10 years women will do whatever they want to do, and they will be very strong in terms of competing for the top job whether creating a business or -- i just think the i will not hire i love anyone that wants to work hard, and i just will fire anyone that doesn't want to -- >> all about --
>> the performance not about men or women. >> i don't care whether they are martians or venus as long as they perform, and whether we look at a company in that regard how do they handle dynamics of the -- allocate capital. >> my first job out of college hedge fund in new york park avenue, and i everyone warped me man who ran hedge fund -- comes from virginia very old school, they said watch out, not familiar working with women i was kind of warned about that. >> you know what i had a strong math binding showed up willing to work willing to push through showed stuff didn't care mess around with that stuff you do your thing the best person is always going to win. >> right and he put me right on up through there. >> if you look for an excuse or if you complain. >> thank you. >> just do it. >> stop your crying! . >> don't ignore using your
elbow, women are just as good at it as men. >> stay with us. thanks for joining us we'll be right back. buddy- nice place, nice car what happened? well, it all started with my free credit score from credit sesame.com. they gave me so much more than a free credit score. credit sesame's money management tools and personalized offers saved me tons of money and helped me reach my goals. i just signed up with their free app. what's my credit score? your credit score is 650. that's magic! no, that's credit sesame.com you get so much more than a free credit score so do more with your score at credit sesame.com we've gotpeptocopter! ummy town. ♪ when cold cuts give your belly thunder, pink relief is the first responder, so you can be a business boy wonder! ♪ fix stomach trouble fast with pepto.
latest of hurricane joaquin gaining strength now it is a category three hurricane joaquin toward bahamas whether it makes land fall in u.s. unclear, we are likely to get a lot of rain, going into saturday and sundays we will have the updates throughout this hour, watching prices the pump this morning national average for gasoline, regular gasoline 2.29 a gallon down more than a buck from last year, this is oil prices, of course, declined 50% in that time frame, phil flynn joining us at cme group story of the day is on the upside, okay let's put gasoline aside oil
prices are almost 47 dollars a barrel today. >> they are on fire this morning, and in a lot of it is because the concerns about dropping u.s. production, and dropping opec production, a lot of talk in the energy space about the in an for fracking, that what is they use to frack the fracking process to get oil out of the ground, in that is -- sending we are going to see more rigs shut down pulling back a little bit from highs, on a report that putin said russia united states are claiming to set up an emergency mechanism to coordinate on syria that might take some geopolitical prifk -- risk out of the markets back to you. >> let's talk about this. >> two parts one useers companies that for example a billion card until 150 million in united states who sells parts people drive more, i just drove from adriatic to mediterranean 100 dollars
worth of diesel fuel terrific, is to what how do i make money from users europe is a user united states to a degree offset by what we are losing short term japan is a user so that is a big is mr. on a macrobasis, do i think about on the other side of the coin there will be a significant consolidation among the equipment manufactures, schlumberger, cameron a great generator we think going to be in dallas monday or tuesday hopefully visiting a couple companies like that that have good capex, low capex great cash flow other side do i want to buy a company that is going to survive has technology -- so -- >> looking for opportunity, evaluations has to be positive for you. >> to the degree a market skoundz it is a big question mark was will saudi arabia blank when they come up with opec in december. >> will they cut production? >> yes. >> don't ask me i have no idea
like cards that stuff. >> joe was sitting here yesterday saying he he filled up in new jersey turnpike thought they filled up half full. >> where are people spending that money saving is that much. >> -- psychological is good. >> right back, stay with us. the internet of things. what we're recommending as your consultants... the new consultants are here. it's not just big data, its bigger data. we're beta testing the new wearable interface... ♪ xerox believes finding the right solution shouldn't be so much work. ... with xerox.
>> breaking news. we're moments away from the readings on initial jobless claims. the last employment data ahead of tomorrow's jobs report. economists are expecting 270,000 claims, pardon me, and that number will be out in 30 seconds. look at the number, the big number to watch is the employment story for tomorrow. the labor department reporting the jobs number. expectations of 203,000 jobs for the month of september. and we're expecting a higher
open for the broader averages. mario, who you important is this number tomorrow? >> it's more the dynamic of the flow, you've had so much revisions and dynamics and you know that individuals and companies are going to try to be efficient and the good news is government is hiring less and starting to add some at the level. but that's a short-term movement and it's what it is. maria: it's a short-term movement, but the movement is going in one direction and we're seeing slowdowns, keith. >> you have the absolutists and the range people. mario looks at the dots and i believe and the flow. the flow is the rate of change in jobless numbers, peaked in february which typically peaks at the end of an economic cycle. we'll see if we get confirming of jobs numbers. maria: and expectations are 270,000, we have slightly worse than you want to see in terms of jobless claims for the week. we're talking markets and we're talking where to allocate money this morning, speaking of
jobless claims, this one is for all of those unemployed millennials out there, traditional sports like football and baseball are about to get some new competition from professional video gamers. massive video game tournaments arriving in popularity and drawing thousands of spectators to watch live game play. joining us now is the washington wizards owner, the also the ceo of monumental sports and entertainment, sir, good to see you. thanks for joining us. >> great panel and lots of energy this morning. maria: lots of energy and in it i can, we're seeing real changes in the sports world. so, it continues to see where people are allocating money and the premiums for sports. why is this so popular and how come it just draws the incredible crowds that it does? >> i think it's not a surprise that young people are living their life on the net and consuming data and nothing generates data and interactive activity like live sports. sports has really become a very, very valuable media
property. what we're starting to see is that young people not only want the stats and data, but they want to get involved. so this new e-gaming phenomenon, just at the tip of that iceberg and we see madison square garden hosting the knicks and the rangers, the verizon center and caps and wizards, and maybe pro leagues will own the teams in our building. is the focus getting people in the seats and stands or do you want to encourage the interactive game play where you are watching it at home? for a long time the owners really just wanted more fans in the stadiums, but now, people have the setup at home and they don't want to go to the stadium. >> it's an interesting business because having grown up in the tech industry, it's become like a software for service business. we have unique reoccurring revenues and 20 year media
deals and our suites get sold for five years and naming rights are for 20 years. a predictible kind of business and we're less and less reliant on singular game revenues from tickets and new we're looking at ways that we can become more e-commerce-like platforms, we look at the central role we play in a city bringing in literally millions and millions of people and they come into the arena. for instance, we're the number one dropped off and picked up uberdestination. >> i believe it. >> wow, okay. >> how do you go from monetizing everything that you monetize to the draftkings of the world and this whole participation, whether you call it on-line gambling or not where really you are the content. they're using your content on their platform. >> i think it's a matter of time before the federal government and state and locals say it's time for us to get serious about gaming and gaming revenues. just like with the nfl, about
$8 billion that gets bet in las vegas. >> annually. >> and tony soprano gets $80 billion and so we all need to look at how we generate revenues for states, for local communities. i think that gaming will start to come in and this little loophole around fantasy, this dra draftkings phenomenon i think is a good sign. it shows that there's consumer and social adoption for people to really be wise and traders. and soon we'll have morning shows with somebody who's just talking about fantasy trading and the importance-- >> we talk more about it every single day. the participation in this country is massive. but on that, isn't it a growth industry to get the people that gamble legally to actually gamble legally? >> very, very much so. i think it will generate great tax revenue. >> i assume people don't skim
the game, they can cheat at playing bridge and they can cheat at-- >> that's true, and mario, you're right there and you've got madison square garden. you wanted to talk about madison square garden. >> in the text of sports, we have sports in the united states and when they're playing, jets are playing in london this weekend as a football team, we're going to p play sports globally and that's a whole new market and brands will monetize that in some fashion. it's just a question of time and when. so, you have the e-gaming, not gambling, on-line and at some point they're going to pay a royalty. if you don't pay a royalty, sue them and in the case of madison square garden. if i buy msg, trading 25 million shares, and spin-off, you can get the rangers for free he wh you buy a share, you can get the knicks for free based on the value of the business. they have a billion and a half dollars, why would you pay for madison square gardens.
>> trying to take it public-- >> it's a great thing for us, absolutely, and you know, you're not going to sell, you're not going to pay the capital gains tax. 92% capital gains tax, i heard. maria: only if bernie sanders runs the country. >> and the show is just not only a global phenomenon, but there's a concept of super cities. there's going to be four in the u.s. los angeles, chicago, new york, and washington. >> oh. sandra: what is the demographic of the e-sports? i'm baffled by the generation, don't you have to have a job and hold a job? how do they have time for this? >> you know, by 2020 millennials will be a third of all purchase decisions and washington d.c. has the most millennials per capita and coming right behind millennials is this z-generation. >> z-generation has got it. sandra: is it men and women? >> it is, it's both men and women, it's ecumenical and
there's more women than men and more and more that are comfortable in doing their shopping and their socializing. sandra: wow. >> and they're consuming media, but the sports is tribal, but because of e-sports, the fantasy games and so on, it's going global, mixing and matching teammates. sandra: time consuming. maria: what about the washington wizards will wear the these-- >> we're the first teams to use virtual reality and bringing that into our training, young people, they don't really read, they don't consume the data any longer in a printed format. maria: not the way we used to. >> over the last decade many teams, many businesses added video and some interactive training, but when you put on
the oculus head set. >> you use morpheus because i own sony. >> and when you're in that environment, what we want to be able to do, increase productivity and increase retention and be able to help injured players to be in the game and i think virtual reality, like drones, we misread. we think it's more a consumer social phenomenon, it's more a be to be product enhancing. maria: this is b to b, that where it's going? . i'm glad you mentioned drones. this is a big subject. your privacy was gone, but now-- >> and certainly, our airwaves, the government's going to have to get involved. we can't have drones-- drones are illegal in
washington d.c. because someone flew a drone into the white house lawn. in we want delivery and convenience and order something and droned and delivered to us right away, we're certainly going to have to have some kind of operating system, some kind of web that communicates on where things are landing and managing that air space. so the government's going to have to intervene there. maria: do you have any interest in drones? >> we have old text -- technology and notwithstanding there, like cyber security and 3-d printing. maria: i think you make a good point, you don't want government intervention in business, but one area-- >> something bad is going to happen. this is one where you can just
see a plane is coming down because someone, you know, instead of shining their laser, they're flying a drone or miscalculate how to fly it. maria: ted, great insight. thanks for joining us. appreciate your time. come back soon, would you least? as we take a break, take a look at developments of hurricane joaquin, what the east coast can expect. we're back in a moment. buddy- nice place, nice car what happened?
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strength. the storm has been upgraded to a category 3 status as it heads to the east coast. maria molina tracking the storm. what can you tell us? >> good morning, maria. right now the storm is a category 3 hurricane, maximum sustained winds at 120 miles per hour. it's lashing the bahamas with strong winds. we're looking at potentially 20 inches of rain across the bahamas so a significant impact and it's a slow mover only moving at 5 miles per hour. that means that the bahamas are going to be experiencing hurricane conditions and life threatening conditions for maybe potentially the next 12 hours, 24 hours, so a long period of time that we're going to be seeing the strong winds and heavy rains. we anticipate a turn towards the north and that's why the concern has been what is the storm going to mean for the eastern u.s. here as we head into the next several days. here is look at the current track. the forecasts continue to intensify, and potentially
become a category 4 hurricane by tomorrow and take a track up the east coast. a lot of models have been disagreeing, some of them are out to sea and some continue to show the landfall across parts of north carolina and very high uncertainty here in terms of what it means across the eastern u.s. maria, we know heavy rain is forecast and possible beach erosion and coastal flooding. and those have been released across the u.s. maria: thanks so much. maria molina there. the international speedway looking to attract more fans for the 400 million dollar investment. lisa france kennedy, international speedway corporation, ceo, will join us next. stay with us for this special interview.
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>> welcome back, we're 40 minutes away from the opening bell. nicole petallides is on the floor of the new york stock exchange. good morning to you. nicole: good morning to you, maria. after a tough third quarter we're kicking it off, we've lost some momentum. traders wonder whether they should get hotel rooms for sunday night as hurricane joaquin is moving up the north-northwest. we're watching key names in the environment, both to the upside, we're talking about tarps, wood, sand bags, flashlights, generators and the like as people stock up to prepare for the coastal flooding if the storm doesn't hit inland. that's what traders are talking about. maria: thank you, nicole. don't forget start your day with nicole and lauren before
mornings with maria 5 a.m. eastern. and facilities reached nearly 80% of the population, now the company looking to attract more international speedway. joining us is lisa kennedy, fox business business's dagen mcdowell on the set. lisa, thank you for joining us. >> good to see you. maria: you brought the helmet with signatures on it. you're investing in investments of the 400 million renovation of daytona speedway, tell us what you're doing. >> we're investing in the daytona international speedway. it's the flagship race track where we host the daytona 500 and it will be open for the daytona 500 on february 21st. it's a total renovation of our grandstand areas, a total
renovation of the fan experience and it's a lot more comfortable. we have so many more amenities and technology involved with the new stadium. it will be the first two motor sports stadium. maria: this is an incredibly popular sport. would you say this is the, you know, nascar, for example, i know your brother runs nascar, right? but you are the largest promoter of nascar. >> we are the largest promoter of nascar, we have 12 speedways across the united states? what's behind the popularity of nascar and just speedway in general? >> it's an all american sport and a full day of entertainment when you go to a nascar event. we have families that come out. we have so many people that enjoy the sport. and it's a really fan friendly sport. our drivers are more accessible than other other athletes. dagen: that's true. lisa, it's been a tough several years. what's attendance been like at the 12 nascar tracks that you all operate so far this year and do you think that the drop
in gas prices might continue to help that? >> dagen, since the announcement last year of the chase to the championship, i think things and momentum have gone so well. we've seen attendance at all of our tracks significantly improve and we've been really proud of that. i think there's so much more of a focus on winning, which is what our fans want to see and responding in ticket sales. dagen: i should say this, i've been to the daytona 500, it's like the super bowl, more than 100,000 people there. this is a plug, but there's really no greater american experience than going to a 500. i'm speaking from personal experience. >> you are, dagen, and i know you're a fan and you've seen many of our race tracks and you can't appreciate it and the magnitude unless you're there and in person, the excitement is unbelievable. maria: it's true. mario? >> well, we own the stock so-- >> you're very quiet. >> it's trading at around $31 and about five times even so
the allocation of capital, and broadcasting rights that have been kicked up and a lot of other good things. so, the attendance is important to spend per capita and the attendance is important. maria: from an investment standpoint what is the standing now? >> the growth is from the new amenities that we're having, but tv viewership is extremely important and fox does broadcast. >> full disclosure. maria: we're fans. >> and a terrific job. fan viewership is important and our sponsorship, we have more fortune 500 sponsors than any other sport. one in four americans. >> our allocation of capital, better buying motor sports, and there are business issues and investment issues. maria: investment issues, the company, you're looking at a situation where the growth is
coming from more projects and just increasing anticipation of popularity? >> popularity, but also, the overall guest experience and in kansas there, for example, when we opened the kansas speedway, there was developments that surrounded that whole track that popped up in an area that virtually had nothing. so we're extending the fan stay and we're also promoting year round tourism. >> how much have you learned from the nfl on that front. the san francisco 49ers built a new stadium and say it's a virtual experience, so many things anticipate with anticipate while being at a live event. have you looked at other venues and leagues for this? >> we're always looking at other venues and leagues and people want to be entertained. this could be their vacation for a year, they come for a week or two weeks, they nt with a to be entertained not just on race day, but--
>> who signed the helmet? >> that's the question. >> all of our drivers signed the helmet for you and would love to give that to you as a gift. dagen: maria, that's a very, very big deal, a big deal! i'm very jealous. maria: thank you so much. >> thank you, maria. maria: the international speedway corporate and ceo. we're 30 minutes away from the market. back in a moment.
>> welcome back. take a look at the markets, about 30 minutes before the opening bell sounds on a thursday. the markets are expected to open higher although we're well off the highs of the morning. mario, your thoughts going into this thursday? >> to me, it's always buying a business by buying a piece of stock in the business at a discount from what we think somebody else would pay for it as a private equity or even higher, as a strategic buyer. so we've got a lot of companies that have come down, the margin of safety is good, good time for investing and long-term, companies that double and
triple over the years. maria: give me one. you give us a lot. >> a competitor makes baby components and building materials. that stock is 13, with 30 million shares, 400 million dollar market cap. pep boys, 55 million shares got to get the formula right. someone will help them do that because they're not going to do it internally. the company we like called meyers industries, a $13 stock again. a lot of those, you can do quite well over. and then the entertainment wor world. >> that's three stocks-- best three stocks you can find in the world right now. >> and bb netanyahu speaking at noon, the u.n. general assembly the first time since the iran deal secured, it's on my radar. maria: this, as we see russia air strikes happening as we speak in syria. >> i'm smelling a bad jobs report.
fups are-- futures are on the lows for a reason. maria: we've got special coverage for jobs in america, beginning at 8 a.m. eastern ahead of the jobs report out at 8:30. keith mccollough, mary mario, sandra smith, thank you. stuart, over to you. stuart: the humiliation continues. hours after a promise to work together, putin pokes america's eye once again. a reported 30 bombing runs by russians planes in syria and again, the targets are rebels we support not isis. america's friends and allies are asking just who is in charge here. more e-mail trouble for hillary clinton. russian hackers tried five times to break into her private server and the e-mails suggest her aides knew they were taking a security risk. and, by the way, bernie sanders is catching up to her on the fund raising front. watch out, east coast, here