tv Mornings With Maria Bartiromo FOX Business October 8, 2015 6:00am-9:01am EDT
up a fraction about 7 and a half points higher. cac and dax in germany trading lower this morning. dell in talks to acquire emc, if the two sides can come together the largest technology industry takeover on record. take a look at emc shares are trading this morning. we are expecting a higher opening. we acquired the company out in a 25 billion-dollar deal with private equity firm silver lake partners. an agreement was reached just before midnight last night, midnight deadline. union is 40,000 workers strong, we will tell you more about this coming up. the associated press this morning reporting this hillary clinton private e-mail server received attempted attack from
china, germany and south korea after she left office in 2013, congressional document sharing the security system installed in october 2013, apparently the server was left unprotected before that time. pressured him not to take a role portraying her husband. not to fund the movie. it's out in select theaters tomorrow and is open nationwide later this month. chicago cubs playoff after beating pittsburgh pirates 4-0. the cubs will face rival st. louis cardinals tomorrow night. syrian opposition groups. blake in washington. good morning to you blake. >> hi, maria, russia appears to
be expanding operation in and around syria. 900 miles away from the sea, when they could not confirm if isis targets inside syria were indeed struck. the defense secretary asked carter also shot down the possibility of cooperation with russia saying that would be limited to basic technical talks. were we believe russia has the wrong strategy, they continue to hit targets that are not isil, we believe this is a fundamental mistake. despite what the russians say, we have not agreed to cooperate with russia. >> the pentagon added yesterday that on at least one occasion, u.s. aircraft flying over syria had to be rerouted to avoid a russian fighter jet. carter is meeting with representatives from other nato members today and they are, of course, expected to talk about how to deal with russia.
maria. >> maria: blake, this is an amazing story. how does the russian escalation play into u.s. strategy? >> it's a real escalation now. firing 26 missiles yesterday is more than a talk from putin. we are now in more than a pickle for sure and the challenge is we aggravated turkey, you have others coming into the mix with various opinions. we need to do that immediately. >> maria: putin seems to be talking. >> obama has handed him the keys right now to the middle east and until we come forward with something very clear he's going to continue pushing forward. he's talking about ground forces, china is waiting in the wings. we have not been collaborative with chinese as to what they are going to do.
>> maria: he is talking, is he trying to talk the u.s. with some military fight with russia? >> i think not. i think ultimately he does not believe that this president here has the appetite for that and he knows that. >> maria: that's the point. >> he can go as far as he wants. it takes pressure away from actions in the ukraine and he may actually get something out of it. for him it's a win-win. >> maria: putin has to deal in -- in conflict and in fear because his economy is -- >> yeah, well, their economy is very heavily dependent upon oil revenues. they're in real trouble. they've experiencing huge inflation because of the decline. they're economy is on its knees.
the other thing investors will pay attention to the middle east more than that they have. up until now it's not been a issue. there's no real oil in syria and that part of iraq where isis operates. with the threat this school -- escalates, investors will take place. >> maria: oil 50 a barrel. it has pushed oil prices higher. >> you have turkey. 60% of natural gas comes from russia. they have the kurd problem. you have potentially spilling over to europe and what pressure that's going to put from the government's perspective. >> maria: what about our friends in the middle east, how do they see it and play in anyway?
>> you make an excellent point, keyword is friends, all right. we lost a lot of friends over the last seven years and we have very few allies in the world right now that we can rely on and we have not been steady in, of course, the last seven years there. it's going to be a real challenge for us we have a lot of diplomatic work. >> maria: we'll keep talking about it. donald trump reportedly ready to shift gears. trump still maintains front-runner status including his daughter milania and ivanka. some people say trump is starting to lose mowment uim in the polls, this is a new part of the strategy to bring family. do you think it'll work, kathy? >> i don't think it would ultimately work.
he's making statements now like he did this past weekend that if they don't continue to be in good position, i will certainly drop out, i'll go on the trail. he does not have the typical american family and therefore may not make him -- >> maria: that's true. it's a bit of the risk. >> i don't think ultimately it's going to be -- pushing him over to the next level to become president. >> maria: you have to say that he has come out with some specifics on tax plan, we haven't seen -- >> well, that's right. he's sort of taken the lead in a lot of these things. he's sort of framing the debate, as they say. he seems to have the rest of the group a little bit off guard.
they sort of underestimated him. >> maria: kathy makes the right point. if i see the polls softening, i will step out. he has to believe that he can be more successful after this. he's already made his brand that much better, you know, improved his brand, so you know, i think -- >> yes, genius, he's having the time of his life, who wouldn't? he's doing very good things for the conversation that are historically significant. but he's doing it from the head, and one of the reasons you're seeing dr. carson prevail is he's doing it from the heart. that consistency and stability and message are going to be be -- >> maria: donald trump has done a great deal, positive on the positive side for this election. he's gotten people energized, talking about the issues.
you have to be that the electorate is going to be bigger and come out and vote. >> absolutely, he has changed the tone of the political conversation in a way that needed to happen and americans were calling for. as he go towards the out-route will the other carry that message. >> maria: amazon, online giant now reporting working on a new plan to get a leg up on streaming competitors. we have a story coming up. take a look at the other headlines, sab miller says 104 billion-dollar proposal undervalues the company. this deal is a huge one. we are going to take a look at what shareholders have to say. blackstone agreed to pay $39 million sec over fee
>> maria: welcome back, more trouble for volkswagon. >> cheryl: volkswagon is going to be halting sales in the u.s. for the 2016 calendar year and possibly beyond. that is the maintaining away. michael horn prepared remarks when he testifies on capitol hill, that is today 10:00 a.m. eastern time. life streaming paid tv service
to go on with on-demand video product. there's no timetable for the release. it will place the company in direct competition with comcast and at&t. if you're ready for a trip some where, cost to europe less than a dinner date. budget carrier out of europe, hope to fly people for as little at 69 bucks starting 2017. right now one way-ticket is $300. they want to fly out of really small airports. you have look at which ones. westchester, hartford. cheaper flights going in and out of. >> maria: how would that work if there's no customs. >> cheryl: all of this has to be approved, but they're saying, look, $600 round trip from the east coast to paris, whatever, that needs to stop.
they wund to -- want to undercut the competition. >> maria: whether this is going to mean more business to the airlines is the question, what do you think, david? miss -- more business but what about the accountability? [laughter] >> cheryl: snacks for you. >> maria: the airline stocks were trading well over this year but the discounting hits margins. >> you're absolutely right. the price of fuel remains very low. they are struggling a little bit. >> maria: any indication that anybody follows.
>> cheryl: on thes -- basically has all the routes kind of covered and are overcharging in many peoples' opinions. it would hurt american, united and delta but good for us. i'm kind of torn about the story. i don't know. it's hard. >> maria: thank you, cheryl. it's certainly good for us. one industry at a time, we'll tell you which names are changing the game. good mornings with maria, straight ahead, stay with us. ♪ ♪ ♪ ♪
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>> maria: welcome back. our next guest, tools need today strengthen their careers, joining us is cofounder and ceo caroline. good to see you. >> thank you, maria. >> maria: we were having conversations about millennials. characterize what a millennial generation is so important and why we keep talking about them so much? it's the sheer size of the numbers, right? >> there's 86 millennials in the u.s. alone as compared to 55 million genxers. there aren't going to be enough jobs. in april or may, depending on which numbers you believe, the largest cohort inside the
workforce. over 75% of the workforce. >> maria: that is amazing. 30million gap in terms of the number of jobs out there and available for potential seekers. >> estimates gap about 30 million, depending on when you believe baby boomers retire for millennials entering the workforce. that's why we are gravitate to nonemployer jobs, start-up, freelancers, really looking to sol the jobs by creating own opportunity. >> maria: educated and diverse in american history. >> this is interesting. do they have the skills, in other words, coming out of college or technical school, are they prepared to fill those jobs that the baby boomers will be leaving? there's going to be a skill gap in the labor force.
>> maria: that's a good question. >> what's happening is millennials, we need to equipped millennials to be managers and it's not surprising that we are seeing start-ups emerge to fill the gap up specially in stem. learn how to code, manage, get feedback. we have course that will -- >> maria: there aren't enough jobs and that's why you see so many start-ups and millennials going on their own. what are the industries most poised as to where the jobs go? >> we are seeing a lot of millennials gravitate to digital space, technical and nontechnical. we believe that that's only going to continue. within our user base the
majority of users refer to themselves as entrepreneurs and when they state their purpose, future purpose, they really focus on creating digital businesses or serving digital businesses created. that's where we are seeing people grow. >> maria: generation that wants to learn stem, science, engineering, math. those are the jobs that are available. we talked to ceos all of the time. there's a major skills gap in the country. [laughter] >> there's a set of norms that are different than millennials are comfortable with to today. one is not necessarily right or wrong. how to help constituents reach that gap so they can be successful in these jobs? >> we provide advice and actual
courses to help you through interview process, application process and our core product is label profile so what we do is try to invent the idea of a resume, not in bullet point format, not on one page, we have video and content available that millennials have spending 60% of their time at least on the phone but the interview process is still the way that it is. we are trying to fix that. i think that one of the things -- that's a fantastic question. thank you for asking that one. one of the things most important to focus on is the skills gap. it's critical when we look at what is a diversity of leaders
and when you look at entrance into stem and job creation and wealth creation that's happening there, you look at the makeup of people coming to it, we have a challenge that we need to solve. >> maria: employers to do that, you think employers understand that? >> i think that some employers are beginning to understand that and are beginning to create an asianal environment within their companies and those employees are beating the 18 months to obtain millennials. >> maria: great insight. thank you so much. gas prices moving slightly higher this morning. leading up to thanksgiving. how long will that last? we will look at that next as we look at commodities. ♪ ♪
maria: welcome back, it is october 8th. with me the policy people founder, david joy of on aron price financial, defense ministers meeting in brussels talking about the, quote, troubling escalation of russian military activity in syria. nato members are concerned who russia is targeting with cruise missiles and air strikes whether it is isis as russia claims or anti bashar al-assad forces. this is happening, vladimir putin digging into the eyes playing hockey, celebrating his 60 third birthday by taking on stars from the national hockey league and winning. we leave that to you to determine whether this includes his favorite but the russian president scored seven goals as he led his team to a 15-10
victory over an opposing team that included a number of russian business titans. back in the u.s. look at the markets, a lower opening for the broader averages, and 65 points, the s&p 500 expected to cut multi game-winning streak for equities. european stocks have been up and down trading mixed as you concede, the dow 90 isn't the 100 and dax index in germany, the cac quarante in paris is under water. and at the wall street journal of the two sides come to deal with the takeover on record. and michael dell took the company private in 2013 when he acquired the company in that $25 billion deal with private
equity partners, chicago cubs and moving in the national league playoffs after beating the pittsburgh pirates 4-0, the cubs will face the st. louis cardinals tomorrow night. look at this video out of australia where a man chased by police drove his suv into the ocean, and when he end ed up in the sand dunes in perth, australia after being swamped by waves, he was pulled out by police. oil prices at $48 a barrel after falling for the first time in four trading sessions, phil flynn in chicago, will oil make it down to $50? >> i think it will because we have conflicting things happening. obviously the conflict in syria of those concerns are dipping market support and even concerns about the iranian oil field, not only is that not popular in the united states, it is not popular in the uranian parliament
either, and we have tough talk from ayatollah contain the last night, raising doubt on that. if you look at other things we're looking at, oil prices today, we have seen that momentum come back into the market, we have mixed data out of the energy information administration that conflicted with the american petroleum institute and that is it. the other thing, gold prices are back down today, concerns what the fed minister will say about gold and in germany, they came clean, after a lot of pressure, there was a lot of concern where was the german gold, in conflict with the united states really forced them to come clean and the laudable, most in new york city. maria: we are talking gold, thanks for taking us there. the founder and ceo, did you see you. you say gold and silver will go
higher. why do you think that? you hear what is going on in commodity space. >> you see gold reacting positively to increased credit risk. in august, you also see gold reacts favorably longer term and sometimes we see bear market rallies, ultimately bear market watch, weakness in play, commodities from that as well. maria: that fomc minutes out today. were you expecting those minutes to show? how much higher can gold go? >> we see an increase on uncertainty, i don't think we will see enough uncertainty out of the fed. we do need to see additional quantitative easing. lot of credit risk in the market, deutsche bank coming out with negative earnings speaks to that. we are not seeing positive
earnings but labour participation rates really low. where we should be at the cycle, we have positive figures across the board, and we are not seeing that. maria: we are debating whether the federal reserve should raise rates, forget raising rates, and to -- >> that is what the fomc minutes, a negative reaction for the markets. i don't think he will raise rates, the intermediate term into march at least, to seek how much. maria: even though janet yellen, there will be an increase by year end. >> that is where the fomc voted 13 of 17, to 2015. as the data comes up since that meeting, it has been sluggish, exports weighed down. it has been a deteriorating
environment, i don't see it in december or march. >> it is important to have some holder as part of a diversified portfolio insurance. i put it in a bucket of alternative investments, one also have standing positions. maria: you won't make that much, but hold on to what you have. gold is a hedge. >> the point is well taken. it will stay on little weak here. maria: you said the dow has to come in. >> we will ultimately see next year but ton of quantitative easing in central banks around world, g 20 much more broadly than the g-8 or main central banks. the next few years over a few thousand dollars. relatively range, one year
worked out with another $200 an ounce. we will see the seas off pressure like we is seen in the last month. maria: i wonder if you guys are right, if the federal reserve holds off in march and that is a positive for the market turning negative. that tells everybody if they can't raise rates, the economy would be weaker than we thought. >> on the sidelines, things are just not gaining any fraction. at least not enough. maria: it will translate into an issue, we haven't talked about the economy yet. we talked about taxes but not the average person in the economy. we see weakening emerging-market in china, slow-growth europe. the average person will hear a lot more about that. maria: it boggles the mind the we haven't gotten into growth and jobs. good to have you on the show. thank you for joining us. talking about goals and markets.
the bill and melinda gates foundation announcing a need for -- nicole petallides is here right now. good morning. nicole: the dates foundation will offer 52 weeks paid parental leave for all employees, the organization misstatement be linkedin saying ultimately are parental lead program is focused on healthier babies, parents who are able to thrive professionally and strong and resilient families. that is not all. the foundation announced plans to grant employees and limited paid time off regardless of how much sick or vacation time they have a crude. less the 1% of companies offer unlimited paid vacation one of them being netflix which announced its groundbreaking parental leave policy earlier this year. the dates foundation currently employs 1300 people. when we talk about if you are having a baby or elderly or dying parent, seems wonderful, but what financial crunch does
it put on particular companies that participate? maria: is the right question. >> is a difficult precedent to set. i admire them for trying to lead by example. they're certainly in a position to do so but the reality is as a working mother of two small children and a business under, it is very unattainable for most businesses not only in this country but across the world to offer policy like this but it is not completely necessary. it may be unpopular for saying that there is a happier balance that could be reached the doesn't put us in position to look like europe from an economic policy standpoint. maria: 52 weeks is too long, that will be one of the topics we will discuss, employees taking advantage. some companies have generous policies would be netflix, google and face book, amazon came under scrutiny, only 28 weeks paid leave for new moms. maria: eight weeks seems like a good amount of time but i don't
know. you needed more than eight weeks. >> eight weeks of paid leave, i needed more. >> it is interesting. if you think of the list of companies you mentioned they are all new companies in the tax base and i wonder how much is migrating into the traditional types of businesses with policies slow to change over. maria: there has got to be a better balance. >> it is not the amount of time. it is also the traditions in the work place and i think large corporations and banks have done a good job in many respects trying to be at the edge of what they can do and have comfortable rooms within the work environment but the reality is these are individual letters between an employee and the manager and those cultural norms need to be worked on a little more in addition to adjust the
timing. maria: don't forget to start your day every day with nicole petallides and lauren simonetti un "fbn a.m.". see you at 5:00 a.m. right before "mornings with maria". leonardo dicaprio, pressured him not to take a role portray and her husband. the late co-founder of apple steve jobs, his widow is set to have pressure back is not to fund this movie, the steve jobs film is out in select theaters tomorrow and nationwide later this month. russian military involvement in syria in intensifies as vladimir putin celebrates his birthday playing hockey but are the odds in syria tilton vladimir putin's theater as they were on the ice? stay with us.
maria: despite finding, quote, no evidence of wrongdoing daily fantasy site caretaking action in the wake of a scandal that has rocked the million dollar industry. cheryl casone has more. cheryl: draft kings permanently banned employees from playing daily fantasy games and hiring high-profile attorneys review their internal policies. this is despite draft kings ceo jason robins telling you there was no wrongdoing. >> we have done everything to investigate this incident and have clearly found through evidence that we pull records of when data was sent to this simple even there was no
wrongdoing here. maria: we are following of the associated press report that the fbi and busted smugglers trying to sell nuclear materials to middle eastern extremists. we are learning in the past five years the fbi held for and authorities three times and busing illegal nuclear smuggling rings lose the white house said yesterday these operations are top priority. finally the u.s. ruling out a strategic collaboration with russia in the middle east. u.s. authorities say vladimir putin has built this significant ground force inside syria with heavy weapons that could support the syrian army and bashar al-assad. a lot of questions about about who are they targeting? are they targeting the rebels we are backing? are they targeting isis? is it both? the report from the pentagon last night, they are moving a lot of heavy artillery, helicopters, guns, missiles into syria. it is getting very dangerous. maria: we know vladimir putin is
supporting bashar al-assad and there are rebels that our cia backed that are against bashar al-assad. that puts vladimir putin against the u.s. on this particular point decidedly. >> he is not fighting isis or anyone else, he's talking about the bashar al-assad regime to secure more power for himself and more power across the region and there are no bones about it, he will take anyone who will come whether it is china or anyone else. including the u.s. which creates all sorts of questions about where this goes and where the relationship between the u.s. and russia goes. >> the defense department said we will not let this become a proxy war between the u.s. and russia but it seems like it is ended is that way, whether it is actual combat, and this is
heading to lead. >> we should the video a few minutes ago. she is having a great time. >> team a decision i am going to push around the u.s. i want to do it now. while president obama is bleeding from behind. >> hockey was like a bat saturday night live skit. is it really possible? of the reality is he has an enormous ego, is quite a globally but is not ideological, he needs the working world order so he will go far. president obama has given him no reason to think the can't go very far and he will whistle lot of money that russia doesn't calve toward it. the question is how far can we need a strategy very quickly. >> do you think the world sees the most powerful person in the world as president obama, leader of the free world, or vladimir putin? >> it pains me to say this but not president obama.
absolutely not. >> the potential is still in washington. one of the things vladimir putin wants to do is restore the world standing of russia. he would love to restore it in the soviet union but that won't happen so he wants to take what he sees on the world stage, this is one way to do it. >> we will get the growing trend of companies like instagram, back in a moment live on set. thank you for calling. we'll be with you shortly. yeah right... xerox predictive analytics help companies provide a better and faster customer experience. hello mr. kent. can i rebook your flight? i'm here! customer care can work better. with xerox. wait i'm here! mr. kent?
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>> it is getting bigger. in the last decade, unicorns, the term used to define high-flying firms with high valuations, willie and a contraction hold or is this a bubble waiting to burst? joining us is the ceo of shatter fly, good to see you. i of your company. we will get in to share for i and all the great things you are doing in terms of pictures and what is out there but let's talk about unicorns, the private market has been expanding and evaluations are going higher. what do you think of this? >> it tells us companies need to get fake quick. plenty of sources of funding outside public markets and they're using capital to invest in sales and marketing to grow their revenue base before profitability and allowing them to blow global quicker than before. maria: us search for growth and zero interest-rate environment everyone looking for growth and
you have been finding it in the private sector. unicorn is a term which came from where? >> a good friend of mine coined the term of years ago and it has taken off in silicon valley. maria: these private companies that are more than one billion dollars in valuation. why is the private market so profitable? >> difficult to be a public company nowadays, you have a lot of accidents investors, regulation, sarbanes oxley, ceos in public markets are often a football in the overall political battlefields so companies want to stay private longer, it allows them to invest in topline growth, sales and infrastructure before the pressure of quarterly earnings. maria: look to the companies, so-called you know corn companies, uber, air bnb, companies are in the private space and there is not a regulation in the private space
the you have in public markets. >> there is also greater attraction for returns in public markets if you have slow-growth global economy, expectations for public returns, public companies, a pretty modest these days. there is a little bit of a trade-off between return expectations and liquidity. how do you balance that in terms of attracting money? >> it is the key freight off. the overall valuation is a little bit of a marketing tool for the entrepreneurs, a company and venture-capital lists and bought last money and they don't care about what the overall valuation is because they have preferred instruments and liquidation preference and so about half of those are going to go to zero. about a third are going to have rounds when they eventually come to public markets and a third to the ubers of the world that have real business models that are disrupting established economies will do phenomenal. so is a trade-off between liquidity but you are seeing
private to private so early stage venture capitalists ice leading out stage investors. maria: you still have issues, pure storage, the ideas this week. >> unicorn finish the day at 3.1, raise 450, but you see the public markets are valuing companies at a different rate in the private market. >> the popularity of instagram, is it one of your cheek competitors? >> they are actually enabling and record revenues and profitability, a daily means of communication and for those seminal moments for those important memories, to turn those memories into physical products and one of a kind of personalized gifts.
we do more than a billion dollars in revenue which i like to think is a better kind of unicorn. maria: thank you so much. great to have you this morning. we will be right back. hi. hi. hi. hello. hi. hi. hi. hi my name's josh. kelly. my name is raph. steve. my name is anne. tom. brian. krystal. and i am definitely not a robot. i'm one of the real live attorneys you can talk to through legalzoom. whether it's for your business or your personal life, don't let unanswered legal questions hold you up. because we're here. we're here, we're here, and we've got your back. legalzoom. legal help is here.
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maria: it is thursday october 8th. chief strategist michael bloch talking markets as we expect to see them trade down. chrysler ceo and home depot, talking about business. meeting in brussels talking about troubling escalation, russian military activities in syria. naida members are concerned who russia is targeting with cruise missiles and air strikes whether it is isis as russia claims or anti bashar al-assad forces. this is all happening, vladimir
putin took to the eyes and started playing hockey celebrating his 60 third birthday and he took on stars from the national hockey league to celebrate and he beat them. we believe that the you to determine whether you think for the ice was tilt in vladimir putin's favor but he scored 7 goals as he led his team to a 15-10 victory over an opposing team that included a number of russian business titans. in the u.s. we expect a lower opening for broader averages. we expected to open 16 points, nasdaq and isn't the underselling pressure after several days of gains for the markets. european stocks, mostly higher performances, the s&p 100 in london up 19 points, dax index in germany seven points. del in talks to acquire data storage giant emc according to wall street journal. if the two size come together to deal with rankin as the largest industry takeover ever, look at how shares are trading today, we
expect higher opening from emc. michael dell took his company private in 2013. he acquired the company and a $25 billion deal with private equity from silver lake partners. united autoworkers at work in chrysler after a tentative agreement was reached last night before the midnight strike deadline. terms of the agreement will not be released until the friday vote by members, the union is 40,000 workers strong and the associated press reporting hillary clinton's private in our server received attempted hack at tax from china, germany and south korea. after she left office in 2013. report cites congressional documents sharing security system installed in october of 2013. apparently that's isn't thwarted those hack at tax but the server was left unprotected before that time. marine powell jobs called leonardo dicaprio and asked him not to portray her husband steve jobs.
his widow was upset to have also pressured backers not to fund this movie. the steve jobs movie is out in select theaters tomorrow and opens nationwide later this month. chicago cubs moving on in national league playoffs 4-0 moving on to face st. louis cardinals tomorrow night. that is our top story this morning, russia and syria launching a coordinated assault against syrian opposition groups. blake berman in washington with the latest. >> russia appears to be expanding its operations in and around syria. russia has launched missiles originating from 900 miles away from the caspian sea and the pentagon said it could not confirm if isis targets in syria were indeed struck. the defense secretary also shot down the possibility of cooperation with russia saying that would be limited to basic technical talk. >> we believe russia has the
wrong strategy, they continue to hit targets that are not isil. we believe this is a fundamental mistake. despite what the russians say we have not agreed to cooperate with russia. >> reporter: the pentagon added on at least one occasion a u.s. aircraft flying over syria had to be rerouted to avoid a russian fighter jet. mean time maria carter's meeting representatives from other nato members in brussels and as you might imagine they are expected to talk about how to deal with this russian problem. maria: want to bring in covert operations officer mike baker. good to see you, thanks for weighing in on this, the white house ruling out coordination with russia on the ground in syria, smart move? >> no. if you are not talking, military
is making best case effort to foster some cooperation, some coordination between various operations, and quite some time ago, the head of but iranian force that is responsible for support to bashar al-assad, traveled to moscow against sanctions, what do we think they talked about, russia coming in to syria. a few weeks later that is exactly what they did and the russians are not there to defeat isis as vladimir putin said when he wasn't scoring, they protect their own assets and have their only court for the black sea fleet, on the west side of syria where bashar al-assad is moving out. they're there to protect their interests. >> vladimir putin figures pushing america around now is the time when obama is leading
from behind. >> absolutely. we talked about this in the past, there's a lack of strategy, lack of presence, this feeling based on demonstrated action over the past few years the we're stepping off of the world stage and trying to disengage and there is the vacuum and others are going to rush to fill the vacuum. whether it is china or iran, that is going to happen, that is the real world. >> how do you see it? >> it looks like a land grab to me. we are not involved, we are not coordinating, leaves the door open for vladimir putin to do what he wants to reconstruct russia. maria: i keep saying gary may i think a very smart point couple weeks ago when he joined us, vladimir putin has to deal with conflict and fear, his economy is crashing around him, he has got to be the guy who's in the day, the tough guy in front of
his people and the syrians. >> create a distraction, he is being bold and gray. >> anytime there is internal crisis in russia typically what has happened with vladimir putin in charges he has done something to be the nationalist drum. this is typical of his pattern. i don't think, there seems to be a growing collective wisdom that with oil the way it is he is running out of money, it is not going to work, we don't want to underestimate the russian population's ability to suffer. i know that sounds odd but we have seen for a long time the ability to put up with a great deal much more than we in the west would imagine. we don't want, we have been underestimating vladimir putin not just this administration, we don't seem to get it. he is a very straightforward
cat, former old school kgb officer who does what he says he is going to do. >> interesting that flat ribbon comes in now, not at the beginning of this conflict, a couple years ago. what i really want to know is what can president obama do here to get hands back here? how can he show strength here and get some hands back from vladimir putin? >> that is what has been thrown around the white house. i can sympathize, this is the most complex issue and problem we have faced in quite some time. the iranians of not had this level of influence in modern times. what we are seeing with russia is exactly what we have been talking about, this growing influence and vladimir putin has for years been trying to somehow rebuild the near abroad. he described the fall of the soviet union as the greatest tragedy of the 20th century. how do we do something?
i don't think we can unless we want to get back to the front edge of let's fear and engage on the ground. who has the political will to do that? the options are bad and right now the white house is trying to choose the best of bad options. maria: the fbi thwarting several attempts by european banks to sell weapons of mass destruction to muslim extremist groups. what is your take on this revelation? >> a points to a problem usually off the radar, to be fair how often does moldova make the news? but we have a multi-year effort with the authorities, the fbi in particular, and the cia as well to try to track nuclear and radiological materials. not to bring down everybody, but during the last dozen years
there have been 700 identified cases of theft of radioactive material around world and those are identified by the iaea. the black market for nuclear material is ugly, very aggressive but we have been working this case, because of the latest sting operation that took place a few months ago bubbled up to the surface but it is a problem. particularly when you talk about smugglers in moldova or elsewhere usually in the former soviet union, when they start trying to move this material into the hands of a group like the islamic state that is a nightmare scenario that sounds like a nicolas cage movie. maria: does it get worse with the iran deal with iran close to get $150 billion of new money? >> absolutely. weather we're talking nuclear material or traditional arms, basically opening up the spigot and throwing all the money back
into iran's hands and we know because the white house identified it as well, some of that money is undoubtedly going to go into the hands of hezbollah, hamas or others, the iranians are supporting, it compounds the problem. maria: thank you very much, mike baker, great to talk to you, fantasy sports sites scrambling to contain the fallout from cheating allegations in the investigational, the latest coming next, the wall street journal this morning, giants fighting over this potential tie up. anheuser-busch's $140 million proposal undervalues the company, deutsche a bang corny it will take a charge on assets and blackstone agreed to pay $39 million to settle sec charges. keep it right here on the fox business network.
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let's make medicare stronger for all of us. maria: daily enters the sights taking action in the wake of the alleged insider-trading scandal. cheryl: draft kings permanently banning employees from daily fantasy games and hiring high-profile attorneys to review their internal policies. this despite draft kings ceo jason robins telling you there was absolutely no wrongdoing. >> done everything i think to investigate this incident and have found through evans wheat pools, records of when data was sent to the simple reason there was no wrongdoing here. >> in other headlines volkswagen halting sales of diesel powered cars in the u.s. for the 2016
calendar year and possibly beyond. that is the main takeaway from prepared remarks when he testifies on capitol hill, at 10:00 eastern time. members of the united autoworkers will be at work at chrysler this morning after a tentative agreement was reached just before a midnight strike deadline. terms of the agreement will not be released until the friday vote by members, of 40,000 strong, that is all the details i will give you. >> you dealt with united autoworkers when you ran chrysler. tell us what goes on behind the scenes. i know they did it deal at the 11th-hour last night, a pretty good month for the auto sector last month but this could throw a wrench in everything. >> when ford settled very green and on their truck plants, sergio had no choice but to do the same thing.
i was pretty confident they were going to come to an agreement. a few think about this telling truck plant it was one of the fastest-growing highest margin product in the product line, he could not afford to have a strike as he is competing, number 2, overall if you look at dennis williams, they clawed back a lot of what they lost. they have a $3,000 bonus, improvements in starting wages, putting a cap on theirs as opposed to the other guys so that is one of the points of contention that might have done resolved last night, but they got a lot back in this deal. the auto business as we talked many times is one of the bright stars in our economic recovery getting back to 17 million units on an average basis for the year. has been a bright spot, gas prices down so we will seeing
better margin, higher profitability and so chrysler performance is subsidizing fiat's lack of performance. maria: around the 2008 crisis the uaw says they gave up some real important, they gave in to some real important concessions because they recognize things were in trouble as they were. they want that one concession back whereas newer people, younger workers make less than more senior ones. we don't know if they got that but that was one of the sticking points over the past week. >> the president of uaw at that time, he talked and recognize the crisis auto industry was in so there was a lot of concessions. the two 2-year wage system which was one of the big points the starting workers are paid less than the legacy workers so they got that, improved on that, gave
that concession two bonus bumps and 3% wages during the term of the contract so they're coming back to get those wages in, is good and healthy but we have to be careful, success breeds complacency and we got to go back where we were again. >> these negotiations are important, we finally get some traction and is one of the few spots in the economy, we will talk more about this later. crude-oil fighting its way back to $50 a barrel, ongoing concerns about the health of the global economy putting pressure on prices, we go to the cme group and check commodities next, back in a minute.
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maria: oil prices climbing to $50 a barrel, we are surging, declined earlier today, we saw oil at $48.08 a barrel, last check after a volatile session last couple days. phil flynn in chicago. >> we are climbing back after being blindsided by the energy information, and increasing crude oil supply. most of that increase was down on the gulf coast where we saw 4 million barrels, some traders suspected the media, hurricane joaquin, the golf course as far as exports and imports and bigger than expected bill, they started to worry about that. the other big story is gold,
there's nothing more than gold fear is that the federal reserve, federal reserve minutes coming out later today, leading the gold to take profits but the good news is germany, and the german central bank, where they were storage. a full accounting today most of us in new york city taking good care of their gold. maria: the german august exports out today down 5.2%, we continued to see the weak economic data coming out of germany. thank you phil flynn in chicago. what is your take on commodities? >> we're seeing a squeeze, a bit of a abatement. you mention german data early in the week, german industrial production, for german factory orders, blaming emerging-market, global growth still challenged, nothing changed fundamentally to
make oil $10 off of its highs, its squeezes' backup, i was telling clients yesterday, you bought oil service companies, seldom now, congratulations. maria: i don't like being a near-term trader but increasingly our guests have been saying this is a range. when it does to 55, sell it because you won't break out of this range. that is not how i would invest. >> if you are an investor and your tactical be tactical, if you are a long-term investor the time to buy great oil stocks and service stocks of crude itself if that is what you do was win everyone was saying doom and gloom, everyone is getting more optimistic and i am saying i don't like this. >> not only a short-term trader but the wealth out there. price goes up, they turn it up, drop 1.6 million barrels, produce 1.6, that is adding to
the pricing too you have all but expensive capabilities just sitting, people are holding on to these so you crank it up, put out the oil, prices come down. maria: this is a wild card sector, knowing shale companies are as leveraged as they are. as these companies going to the end of the fiscal year, october, an end of october, november, they may be forced to redo their credit facilities, that creates bankruptcies, issue or to create acquisitions. >> you'll see a plethora of opportunities from now to year end and there will be a big grab by the big guys to go in and get valuable assets. maria: we will see if the story picks up in a big way in energy state. a busy deal, busy year for deals of the making, what will be the largest technology takeover in history, the panel will weigh in on that and where are the deals happen? we will look at deutsche bank,
something is going on. later we will tell you how eating cat food could make you a lenovo prize winner. you don't want to miss this story. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
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claims or anti-assad forces backed by cia russian president vladimir putin to ice playing hokey celebrated 63rd birthday take on stars from national hockey league he won whether the ice was in his favor scored seven goals 15-20 inviting over team that included a number of russian business tycoons. >> to open lower dow jones industrial average to open down 60 points nasdaq s&p 500 under selling pressure uber stocks mixed a take a look at numbers, ft100 off a fraction dax index higher we did get bad news in terms of the economy, in germany. we did get a report out this morning august exports down 5 and quarter per cent for the month expectations called for gain of 9/so of a per cent deutsche bank shares this morning the company is warning
a massive loss for the third quarter, the stock has recovered yearly losses but there is talk this morning about the company, possibly cutting dividend preannouncing a massive plos at deutsche bank, that may very well be one of the most actively traded in financials day cubs moving on in a playoffs peating pates pates pirates 4-0, snapping game postseason losing streak will face sanity luis cars nalz. >> australia, man chased by police drove his suv into the ocean, police will been chasing him nearly two hours. when he ended up in sand dunes in perth australwes swamped by s pulled out by police busted. >> "the wall street journal" reporting del in advanced talks to acquire emc, in a detail valued 50 billion dollars, that would be the largest technology takeover ever, and the parent companies of budweiser miller back and
forth over a huge tiebu sab miller says -- 104-billion-dollar offer under valuing the company, bring in steve howell uservice chairman. ey, america's managing partner good to see you thank you so much for joining us. >> great to be here. >> let me kick it off, with your take on what is going on in the world your suth with ceos chairmen all the time, do you think that they are becoming optimistic or troubled? have what is the headlined out of the -- those conversations. >> i would say they are busy, first of all. it is incredibly volatile and challenging i think u.s. economy moving along okay, in comparatively with the rest of the world a lot better than okay the emerging markets what is happening with currencies commodities a lot of challenge at the same time, in their sector they are facing a challenge to notice of, there is disruption you mentioned two big deals one of the things we believe we're going
to continue to see i wants probably more transaction activity you put that challenge on the table, in a low rate environment, and probably going to see more of that. maria: talking about energy space earlier, that perhaps we see deals in the energy space but before it gets to that you mentioned emerging markets michael how long has it been we are talking about meeshgdz markets under precious we have seen no letup this is a key area are to american multinationals. >> seems a few years now, part is china china being able to maintain high level of growth keeps ratcheting down the other piece of the equation ties china to large extent is commodities game where again supply and demand factors mean there is a lot of pressure there going to hurt certain exporters like brazil, other countries like that. maria: right and then there are the sector stories like energy story bob. >> yeah, so energy, is one of the bright stars you know, have been for the jeer with energy unless you and i talked a lot about that the auto industry housing is okay.
to steve's point not off the chart like it used to be in '7 and '08 a lot of goes in go out what i learned from jack welch you see the world the way it is not the way you want to see it we start off with grandiose, if gdp, 3, 5 we talked about it lucky to do 2, 2.3 or something like that, steve's point about interest rates i don't think we will see the fed move before year end maria i don't know what mike and steve and your bn that. >> see the world the way it is jack welch always would say because the truth is everybody expecting an interest rate like from federal reserve the data has not been that. >> look i am still in lower i am? lower for longer i've been talking about that a while my question for you is given that there is a lot of opinion out there, that rates could go higher soon. are you seeing companies looking to take advantage of this window of lower rates? is there that perception or a rush to get deals done here. >> i do think that is a factor, michael, if you look at the combination of low
interest rate environment and strong u.s. currency it is a window i think we are going to see that. i think, people are also beginning to think maybe there is a rate move, but there is probably not miultiple moves maybe up once but there is probably a low rate environment for the next -- uh -- 12 to 18 months. maria: increasing i am hear more about march than december. >> exactly, steve you and ey are hosting a session on activism another issue that we're facing today in business, ceos uncertainty of who is you know who is at your door; right? maria: that is important topic thank you for bringing it i want. >> totally right the pressure to innovate the disruption and activism on top of it, that means every day, the ceos coming into work volatile global environment tremendous pressure to innovate, that means that certain companies are also going to be sellers in this environment, because, takes a lot of capital takes a
lot to drive you are seeing that in energy, with cameron, and williams becoming sellers in transactions, so again i think transaction activity, we believe, is going to be on the table next year. >> all of a sudden you deal with all the issues of the day, loo i can the slowing economy the issues in emerging markets then you've got an activity being noing at your door dealing in a fishbowl you've got to make real decisions, when may very well be short term decisions the recalled would is watching the markets areacting, not only those that have activism, inside, but others are saying, well what if, you know we know what the scorecard looks like what are we doing. maria: is that the way you recommend executives to look at this, have a plan, regardless. >> absolutely we are trying to help on that as well trying to help companies through audit tax and skujt of businesses on activism our advice don't wait we can give you the scorecard think about what they are
looking at what you should do. >> i was doing a session recently with people who were involved in activist situations can you ask board not to have private meetings with activities and investors that is what happens activity call board says i want to talk to you about this that is how it begins you can't do that can you bob? >> i think there's -- active investors and then activities activists i differentiate not a matter of if to your point. it is when. you see vulnerability. to your earlier point these are all very short term kinds of initiatives where they are looking you know, put more leverage on apply more stock, increase the dividends, cut your r and d, which is right at the heart of what steve was talking about, you to me counterproductive to what we have to do in today's environment. >> yes i think it is not all bad either, sometimes everybody views activist as evil there is a range out there we are seeing some
working cooperately with boards, and boards likewise. maria: like value -- i don't want to name names not necessarily bullying of the bat do this do that but trying to work with management. >> trying to come in be another member of the board. with a can i have the agenda you can being have different issues there too because they have sometimes a whole lot more information, than it be typically board member thooefth a team behind them analysts, but we are seeing much more collaboration with some. >> quick to know sectors that you think will consolidate before you go, you said you are going to see more transactions. >> yes, well, the commodity price on top of rates, currency means oil and gas i think we're seeing some of that, health care. i think the drive to be efficient we have seen some big deals there as well, bob mentioned, hospitality, and -- as another one, so i don't see any being immune but those are big ones we are seeing. >> we love having you thanks so much appreciate your time steve howell ey u.s. chairman
america's managing pattern your commute to work may soon get easier one auto giant reveals plans to sell self-driving cars within the next five years. we've got the story pm back in a moment on the fox business network. stay with us ♪ ohh, listen to the music ♪ ooh, listen to the music, all the time, ♪ ♪ .
. maria: welcome back, toyota joining the drive looez. cheryl: i could not help myself freekz me out toyota announcing plans for a self-driving car commercially available by 2020 that is nissan gm google all say they are going to have driverless cars on roads i want to stay in control thanks anyway. >> amazon taking on guy launching online marketplace over 80,000 handmade items from 5,000 serlgz pitts amazon against ese biggest player on the craft case. >> s&p saying more likely now than ever to cut ge credit rating after activist investor peltz closed 2 1/2-billion-dollar one
person stake in that company s&p says peltz is calling for share buybacks that are quote beyond our current expectations, but remember so far playing nice in the sand bobs s boxin o box. >> i worked with gi.e at cnbc you are a long time -- of ge what do you make about this. >> i think nelson a little bit of a trojan horse i want to be a good friend to jeff, by access to the business leaders i get access to the information, but i stand back, thanks for offering to join the board but i want to keep my powder drive we saw what he did with powder. >> stock was up on nelson peltz news we will see where this goes. >> ge already a company on the move taking they are off finish businesses look at industrials health care, talk about buybacks but one thing that is going on out there in the world halliburton buying
baker hues requiring divestitures the question what does peltz think of this should be greet opportunity to buy businesses someone like activists voluntarilied will they look to do this see this as proper long term allocation of capital versus short term buzz they my get from a buy back that is the softer the controversy among traders versus investors. >> you want leverage to buy back to by core assets if in fact industrials are going to be your focus going forward, michael, to your point, excellent point we ought to look at on hised a on these for energy and positions ourselves for next recovery. maria: whole new thought process when you think ge now, that jeff immelt sold 50% of earnings that he is selling to all of ge capital you got to look at this a pen much differently now because now it is an industrial company.
not financial services. >> here is a chance to get that back, look, i am the trading guy i am saying, i think the investment decisions a wise one that is really where this company should be headed. >> you look at study of activists maria half of them have been successful half haven't the ones that have have been short term where they take randa investments in technology down, for short term improvements stock buy back dividends increasing leverage we see how that works. maria: are i mean, you are so smart on this you know this company sociowell. where is the growth at ge do you think in the next five years? >> well, again, i think jeff has done a great job, you know looking at the acquisition more globality a huge stalled base for service long term service agreements, i think doing a great job, in you know, in aviation, and aircraft business you mother medical so he has got michael to your point he's got a booed basket of industrial businesses to really grow you got to work on marginal work
on product innovation. maria: look at 28 big move on peltz activism move would you buy it here? >> um i am not chasing stocks i can't recommend buying stocks. maria: i know you are a seller so as individual case activism, okay. >> what i can say is this. you know the other interesting part we are going to talk about what is endgame if buying more industrial businesses, bob talked about medical businesses ultimately peltz or another activist look to split this company further? >> pure play industrials, health care does that go further? does that add value? these are questions investors need to ask. maria: in middle of the story robert schiller up next professor from yale on the real estate market, so why are we showing you cat food right now. >> it was on the menu, for professor schiller when writing his book, i am going to ask why he ate cat food when he wrote this book, back in a minute.
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maria: wement back wow the next fed meeting, coming up but, of course, not ready to raise rates consumers already feeling pressure as represents are rising rent.com says more than two-thirds of property managers say rental rates could rise by average 8% into next yes, sir we know rent prices have been soaring yale university professor nobel prize winner robert shiller joins us right now we want to talk about your you in book as well as the markets good to see you thank you so much for joining us fishing for fools, is the new book, i -- we are about talking about fishing for fools term of markets and the what happens in terms of when markets get over heated
tell us about it. >> well, we wanted to write a book about the dark side of economic you know about this. we wanting to give a perspective on it, and it -- people can be manipulative, i guess we teach that to children what we don't emphasize is how an economy, actually incentives that unless a civil society watching it incentives that, it is a fundamental problem, with uncompletely unregulated or unwatched free markets. maria: is that what happens? is that still happening? >> well, i mean look the recent example volkswagen. they -- venerable corporation a defeat device in their cars it was fraud got away with it a long time, now we're not negative about people i think people are -- mostly good.
but you have an economic system you have to compete with volkswagen the old volkswagen if you are another auto producer creates an incentive to do something right there, so we get into an atmosphere where everybody is doing it, and it becomes hard. so that is why we call them heroes, people who stand up, for what is right. in business. >> what motivate heroes your partner i worked for 45 years ago markets for lemons he said you know there are let me on these paechz if you have peaches you don't want to sell peaches you sell let me on these how the what makes people sell their peaches. >> it has to be other than thinking -- well, fefrl, a businessperson can think i don't want to do these other things i am a moral person to some extent there is some latitude to do that but you can't do it too much. because there is a lot of
business, profit margins tight you compromise iyourself i don't fall for accepting compromises you have to survive judge someone on balance. maria: right. >> let me ask you about business today, bob. and he we've been debating the global study every day how would you characterize in terms of broader economy in particular housing. >> right now we are in what i call the new normal boom not my turn. but the new normal is the atmosphere of the world now i think it is somewhat ask you to sometimes about infected by fees are of technology will your job be replaced by a computer young people are worried. and just a sense of instability holding the economy back. >> why? >> why? >> well, any of these things have multiple causes, but what comes to my mind first is that
thing you are holding. maria: i want tweeting what you are saying. >> those things will be taking your job? i don't know. >> going to take my job? [laughter] >> i don't mean. >> i am not predicting technology but you are asking to what people are afraid of. yes. that thing is already reducing demand for news people, and -- >>. maria: you are right absolutely right things are moving digitly. >> short term gratification we don't see interest rates people very ask you to about investment driving activities, short term willful violations of government regulations how do we get around that. >> we can't get completely around it, what george and i said we're -- a free market economy, gets into a phishing
equilibbrum we call it phishing met fo for adefection, takes a lot of comparisons people who talk about it and do something. >> did you eat cat food writing this book? >> i -- i -- doesn't everybody sample this cat food? as cat owner george thought it was musicing but i will tell you cat food that are label with gourmet labels they are not gourmet if you taste it. >> for cats. >> robert shiller thank you for joining us we will see you soon bob are in a are in a del aye pleasure to see you south dakota senator jon thume live to concom in new york city back in a moment.
it is thursday, october 8, once again with me trading partner michael block with us today nato defense ministers meeting in brussels as we speak, to asks what is being described as a quote trowelling escalation of russian military activities, in syria, nato members are concerned about who russia is targeting with cruise missiles air strikes whether isis or antiassad forces cia is backing as western countries believe this is happening russian president vladimir putin playing hockey, celebrating 63rd birthday taking on stars from national hockey league and winning, we leave it up to you to determine whether you think the ice chipped in in putin's favor scored 7 goals 10-15 victory over a team including russian business tycoons. >> stocks to open lower take a look at markets, the broader averages to open down 12 to 50 points lower dow jones
industrial average down 42, take a look at trading mostly higher performances ft 100 up 30, weaker than expected manufacturing date out of germany this morning, dell in talks to buy date storage giant emc if two can't come together would rank as biggest takeover ever take a look how emc are trading michael dell took company private in 2013, when he bought the company out in a 25-billion-dollar deal with private equity firms silver lake patterns members of united auto workers at work at chrysler a tentative agreement reached before midnight strike deadline temperatures of agreement not released until friday vote by members, in a union is 40,000 workers strong, teb associated press reporting hillary clinton private eechl server received attacks from china germany south korea after she left office in 201 a security
system in october 2013 are apparently toward the attacks but unprotected before that time. >> jobs called after leonardo decap pro pressured him not to take role portraying her husband steve jobs widow also to have pressured backers not to opportuned the mover the remove released this month a playoff beating pittsburgh pirates 4-0 snapping nine game postseason losing streak cubs face saint luis cards nalz tomorrow night top story russia syria launching a coordinated assault against syrian option groups the latest in washington, make. >> russia appears expansion in and around sir under arrest launched myself israel from 900 miles away from caspian sea pentagon said yesterday it could not confirm if isis
targets inside syria were indeed struck. defense secretary ash carter shot down potentiality of cooperation with russia saying that would be limited, to basic technical talk. >> we believe rush has the wrong strategy. they continue to hit targets that are not isil. we believe, this is a fundamental mistake. despite what russians say we have not agreed to cooperate with russia. >> there is more here, too the pentagon added yesterday that on at least one occasion, u.s. aircraft flying over syria had to be rewithout the, to avoid aush aran fighter jet. carter is meeting with representatives from other nato members today,in brussels as you might imagine are expected to talk about just what to do here with russia. >>. maria: of course, blake thank you blake berman donald trump to switch gears after softening support of
presidential polls trump maintains front-runner status will include his wife and daughter on campaign trail begin an aggressive tv ad campaign will release a book on policy titled crippled america joining me tea party patriot ceo cofounder, martin and daley beast senior editor thank you for joining us. >> thank you. >> thanks for having me. >> first off jackie your thoughts on this new strategy from donald trump. >> i feel like he he we've gone through a process getting to point donald trump is actually a candidate, he is someone that is actually running for president, and he is finally getting to the point rolling out family putting out policy papers, but i will say, it did it is striking to see sort of negativity encryptline america not positive message putting out there see how public reacts to that. >> who does tea party want to be president? >> well, we're looks at all candidates donald trump
certainly has been talking a lot about issues that we care about, at tea party patriots, and we will see where we wind up with our super pac going to be going through an endorsement process, in the next few weeks, but right now with donald trump is he going to be very interesting to see what happens when he rolls out his wife and daughter, people already are aware of ivanka has her own personality interesting to watch how this unfolds as he brings in new media in reality tv, and campaigning, really shakes things up disrupts the system? >> michael. >> based on what you've seen so far what candidates have raised issues, that have gotten your attention that make them interesting? what has been said in dean so far, that is going to be a hot button for you? >> well -- obviously, tea party patriots care a lot about obamacare we want to learn more about the candidates about what they intend to do, to repeal obamacare to get rid of the
congressional exemption from obamacare, and to bring about more health care freedom, it is we're looking at next republican debate in a few weeks, we want to see how they are going to get us to a debt free sfoout have a balanced budget, for the federal government that will balance within five years. >> glad you mentioned that, because some of these tax plans are -- are crossing 18 trillion-dollar if you look at bernie sanders or 12 trillion-dollar if you look at donald trump if you are concerned about spending, we really need to start scrutinizing some tax plans. >> yeah, absolutely, i think the scoring, and some of the other proposal donald trump put forwarded have looked like going to cost a lot of money so the devil is in details you get down to these plans, actual concrete proelz see what voters are willing to give-and-take you like a candidate do you sort of accept them wrinkles and all, they are not there is not someone that is a hundred percent okay with everyone. >> let me ask you jenne, about
the tea party feeling about this most recent comments from kevin mccarthy today is the -- is the vote on who will accede john boehner and take that seat what is your take tea party what on kevin mccarthy said recently? >> about the -- >> -- sure, tea party patriots we think that what we do not want to say kevin mccarthy become next speaker of the house. when you look at what he said about the benghazi hearings we risk the fact he may have indone several years' worth of real investigative work, and these committees in the hearings abouting benghazi one of four political purposes to bring real accountability we had american lives that were lost the on anniversary of 9/11 in benghazi, so we will see what happens today, as at the republicans go into their conference meeting, we know for certain, that the house conservatives have enough
votes to block kevin mccarthy from becoming speaker. so it is really up to the establishment to understand the these guys are going to stand firm and mcthee is not going to be next speaker of the house. >> we will watch that going to know, by the end of today, likely, spending cuts, debt limit major issues on campaign trail, republican candidate ben carson weighs in on both with stuart varney today, listen to this. >> you know, we've 645 government agencies and -- each of which has a budget. and in many cases a very substantial budget, i personally believe that you can cut three or four per cent of theft out of each one of those budgets, anybody who tells me, you can't like, nancy pelosi you can't do this by one penny or it will be a complete disaster, because we are a hundred percent efficient.
what? a bunch of crap. >> your take on that? >> i want to hear i am cures to hear what the presidential contenders how they are going to work with congress you seem to have all day want to go cut budget to do all these, want to go do all these things if you can't work with congress if you can't get some people on your side to push it through, they are nothing you can do you end up like president obama current congress hasn't passed a budget i don't know how long. >> you are right the most divisive government that they can't even talk to each other anymore as a result trying to one-up one another. >> the american public care about that? they should. >> not this stage i think they are upset about dysfunction in washington talking about compromise talk about working with people, isn't something they -- >> trouble reconciling here the they care about dysfunctional washington, a guy on with stu mocking nancy
pelosi hangover you neil about pelosi kind of divisive the guy up front putting a book out called crippled america so raising issues that are very salient appeal to a lot of people but divisive here. >> what do you say about that. >> i think the problem is that we are across america looking for people who will lead. who will stop doing things the way that washington has always been done. when you look at what just has happened the last couple weeks with speaker boehner the first time in history we've had a speaker of the mouse resigned not because i willness people a saying he can no longer be speaker there is we do not right now the way things are working in washington it doesn't work we know that we want things done differently it can't continue to be the same thing that we have seen the last several decades for my entire life that has got us nearly 20 trillion dollars in debt.
>> all right. we will leave there it jackie jenne good to see you thank you so much for joining us ladies, catch entire interview day 9 a.m. eastern fox business network. >> gearing up for trip to capitol hill knew about emissions issue last near more on that comlijs of scandal other headlines topping "the wall street journal" brewing giants ssab miller ab, going back and forth over potential deal sab miller says latest 104-billion-dollar offer is under valuing the company deutsche bank warns a 1/2-billion-dollar charge third quarter bouncing off lose there is speculation why the big charge what and so exposure does it have to vw mess blackstone agrees to pay 39 million dollars to settle chalmers over cpac keep it right here fox business network, back in a moment. ♪ ♪
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td ameritrade. you got this. . maria: breaking news fifa reportedly firing seth blatter as president rioters roshlt he has been reeled of duties not allowed to represent fifa in any compass, blatter in every criminal investigation over bribery allegations l.a. fantasy sights action in the wake of alleged insider trading scandal yesterday cheryl casone with the story we heard changes, at draft king. cheryl: exactly especially after that big interview you had yesterday, with head of the company fan duale and draft king permanently banned employees from playing daily of infant games they are hiring high profile attorneys to review their internal policies, now this is despite draft king ceo jason robbins telling you yesterday there was absolutely wrongdoing.
>> we have done everything i think to investigate this incident very clearly found through evidence that we pulled records of when data was sent to this employee, that there was absolutely no wrongdoing here juror. cheryl: looking at volkswagen the company going to be halth sales of diesel powered card in u.s. for 2016 calendar year possibly beyond takeaway from volkswagen america ceo prepared marks when he testifies today, by the way, on capitol hill 10 a.m. eastern time on airline trying to make flight to europe less than apple dinner date norwegian air shuttle a budget carry out of europe hopes to fly people across atlantic for as little as 69 dollars starting as soon as 2017 looking at low fee cities westchester hartford who would be most taked lufthansa you leave to go to europe you can take lufthansa you go through
germany, right, they want to cut that out they want to take nonstop and take that away from lufthansa good idea. >> for people who are looking for the better car. >> sounds interesting we've seen things like this before we saw it in high end a few years ago companies silver jet come in trying to do these things, a lot of companies go away we will see what norwegian air does seems to have staying power regionan air irwhat are guys at ryanair thinking u.s. carriers thinking about this a lot of ways to cut this easier said than done a cycle a down turn blows up again start over again. >> airline stocks always considered kind of a last investment for investors, but the last couple years doing pretty well. >> doing well. >> you got to worn now, you know, jet fuel prices low good for them but this could be back -- >> you go from 7 to 3 company surviving going to do well 3 are we creeping to 7 or beyond
that see what happenss going to be fun. maria: right. >> good for vacations. >> sounds good. >> thank you hillary clinton details a sweeping plan to bring in wall street proposing a tax on high frequency trading, commissioner will weigh in on that keep it right here on the fox business network. (gasp) shark diving!
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tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. maria: democratic presidential hopeful hillary clinton gears up to propose a tax on high frequency trading, as part of a wall street reform plan campaign saying quote the growth of my frequency trading, has unnecessarily burdened our markets enabled unfair abusive trading strategies joining is former cftc commissioner bart chilton thanks for joining us. >> your opinion on hillary plans. >> done really good things i
have issues with exactly what she has done with hft's, specifically, and that is, you don't want to tax liquidity you want to keep markets so you have efficient effective markets but she has done something actually pretty clever just talking about the cancellations not talking about a general tax when o'malley senator sanders that would be i think a disaster for markets, this is just talking about really sort of strategically talking about the cans laigs, you can being have debate about do you need cans laigs i think you do need some cans laigs with 45 exchanges traders all over the map hit one place need to pull back others i think an important issue i hope sec will discuss. >> it michael how do you feel. >> that clarification, serious headlines i like with a what hillary is dock end spoofing make this honest last we want is you know something going to allow this to falls liquidity
or hamper liquidity here the question is what is the future for the regulatory environment is it a viable part how can hft's add to liquidity how can, to regulators see this. >> they do taken a long time, maria knows, i criticized some for years because they are weren't in the regulation they are now, they are bktsdz regulated full patterns and markets, these guys are the b important part of economic ecosystem. >> the key thing to realize, because when volcker circumstances liquidity is down some point i thought everybody in washington would say markets dysfunctional try borrowing in liquidity are they seeing that anyone talk about this. >> a great point there is an
interesting study in august about october 15 last year, treasury rates, when the market was left to volatility the point in this report hft's principal traders stayed in the market when banks were bailing these are guys you want in the market and you don't want disincentives i think cancellation good issue to be talking about. but you know, in markets every day making prices better more efficient effective o. maria: i think an really important point what you said earlier we are having this discussion ongoing about liquidity, if you are taxing liquidity and your putting anything in the way of liquidity in markets that is going to be a major problem. >> you know what it is proven not to work over and over again, they tried in it switzerland had market migration all over the place, they have tried a number different places even tried it in u.s. years and years ago, already a transaction fee it goes to help support
regulatoryr regulators on exchanges that is appropriate i was in support when at commission, any of those support of a small fee to pay for the regulation but to try and fund health care, and student loans, and billions of dollars that is out of control apologized where do you see regulation going? >> well on this in particular? i don't think they are going to end up certainly not going to be some sort of fee any time in this congress, theoretically you could see a transaction might ultimately be there, they said never, would it happen in eu it happened in eu going into effect in january. maria: all right. we will loaf there it great to have you on the show this you so much for insights on this important discussion a short break u.s. stocks under pressure futures pointing to lower opening where is best place to put your money more on that fox business network.
>> welcome back. i'm maria bartiromo. it's thursday, october 8th. with me this hour, michael block, nato defense ministers are meeting in brussels to talk about what is called the troubling escalation of russian military activity in syria. who they're targeting whether it's isis as rush is a claims or anti-assad forces as western countries believe. while this is happening, vladimir putin is player hockey and taking on the stars of the national hockey league and winning. we'll leave it up to you to decide, he scored seven goals on a team that had russian tycoons. the dow jones average looking to open down about 60 points. european stocks have been up
and down although we're seeing a pretty good performance there right now. we've got the s&p 500 up 22 points and the dax up even though we saw weaker than expected manufacturing. and the giant emc according to our colleagues at the wall street journal this morning. this could be ranked as the biggest technology takeover ever. we're expecting a pretty good opening for the stock. michael dell took the company private in 2013 when he acquired the company in a $25 billion deal with silver lake partners. and the chicago cubs move on in the national league playoffs after beating the pittsburgh pirates last night 4-0. the win snapping a nine-game post season losing streak. the cubs will face the cardinals tomorrow night. take a look at the video out of australia where a man chased by police drove his suv straight in the ocean. police had been chasing him for nearly two hours and he ended
up in the sand and dunes in perth, australia. after being swamped by waves he eventually was pull out by police. police. >> and i thought you came here to die. >> it's all a matter of perspective. maria: probably not the best way to promote a film, but actor daniel craig says he's done playing the role of james bond. he told timeout london he'd rather break glass and slash his wrists than play bond again. he's contracted for at least one more bond movie. ouch. and wall street awaits the release of the fed minute out at 2 p.m. eastern. how happy should investors be? and managing director, on the phone with us right now alter ra --
altera managing partner, i tweeted what we're talking about, you're bullish on this. >> yes. maria: you came on the program and said things are going to get ugly and you want to be selling stocks, exactly what happened. nice call on the volatility. what is making you bullish, ralph? >> i was impressed with last friday's action in the face of poor jobs reports, the market turned, turned very dramatically. and i think the follow through in the last couple of days is very impressive. i'm starting to see action and in energy, of course, consumer staples, the stocks index is about to break to the upside and i think there's a lot more upside. maria: we saw about a 12% selloff. do you think that the large selling is done for the near term? the way i calculated from the
may high to the august 24th intraday low. that was about 16%. maria: 16%. >> from feet to trough, yeah. and the last trading day dow was up 6%, so i think that little softness we're seeing on the tape right now shall the futures pulling back, i think it's normal. maria: how much more positive, how much more gains do you see happening? how much more of a rally would you expect? >> there are two levels you've got to look at. the s&p is 2020, that's the september 17th high. i believe you'll break that and looking at 2100 to 2130 on the s&p and the dow, we're right here at 16, 933. i think you're looking at 1 17,,000, 18,000. maria: he's looking at technicals. you look at fundamentals. >> i look at fundamentals. maria: do you agree with ralph? >> i do. the reason i agree with him. as being see by the chart
there's a defined w which is seen as a technical double bottom. because of that, we saw that retest of the low from the correction, got very close, within about three or four days before it started to rally and then as ralph said we've had rallies five out of the last six sessions. we're at the midpoint of the w and we struggled yesterday on that, if we break out to the upside we could get back to the range where the correction occurred. maria: it does not matter that the fundamental back drop is just okay, that the economy in the u.s. is two-steps forward, one step back and that we've got so much challenges on global markets? >> those matter in the longer term. in the short-term the next two or three weeks, we're in pretty good shape. the reason for that, we're in a news vacuum and we know they passed on interest rates. maria: we have third quarter earnings. >> we do, third quarter earnings in fact start tonight. earnings expectations are not good. they're probably looking at results pretty close to whee saw last quarter and the
expectations bar has come down and what we typically see two-thirds of the companies exceed the targets and the problem is we don't have a lot of revenue growth. until the earnings reports start to come out and we'll see individual names that perform well or won't, but for the broader market we're in a bit of a vacuum until we get to the fed meeting or the clip that we'll see december 11th. maria: michael. >> i know you're not a big "star wars" fan, but to quote the admiral, it's a trap. the time to buy s&p was below 1900. i was doing. yesterday, honestly, i started making sales and taking profits, getting short. i don't think we're going to go back to the lows. i think a lot of the pain has come out of the market. i think there's nervousness about the fed ditherring. i don't think we're going back to the lows, but back down.
i think we're going to grind higher, but it's going to be difficult. i think we've made a huge move in a short period of time. i know that technicians like ralph like to follow in strength. i'm not sure that's going to work. maria: what do you think about that, ralph? >> the next day or so will be critical. i agree with the gentleman, i think if we falter, that's normal. if we are to the downside, i'll rethink my decision. maria: if it's a massive route you rethink your position, but the levels 2100, 2130 on the s&p and where we are on the dow you think there's much more buying to come, ralph? >> yes. >> one thing i'd be watching, love to hear what you think about it, i've been watching crude, longer term crude correlation to stocks is very flat because it's all over the place. near-term going back to the beginning of october, correlation above 80%, i'm
going to keep watching crude, if crude is having a good day, despite saudi cutting prices. >> i agree would you, there is a he a range between 60 and $90 for west texas. we've been seeing that for a long time. we see the rig counts and crude on the way back up. the energy sector has been so weak, it's pulled down the market overall. in the near-term i agree. what are you seeing in schwab, the customer sentiment and-- >> in general our clients are optimistic. the only time we saw fear was on that monday when we had a sharp route. i made a call out to a number of people and asked them what's going on. yeah, a handful of our clients panicked by by a couple of hours after the market opened realized they'd made a mistake and most of them went back in and bought in. for the most part they've
missed out on a little bit of upside, but probably done quite well since then. >> ralph acampora, final word from you, how the markets will trade next. >> it's start to go filter out and believe it or not, even emerging markets are starting to pick up. u.k. broke to the upside, the double bottom we were talking about before. i think it's going to be fairly broad-based. maria: he so you want to buy emerging markets here? >> yes, as a trade. maria: as a trade, buy emerging markets. any one stick out to you. >> u.k., that's not emerging market. maria: we'll leave it there. >> okay. maria: thank you so much. ralph acampora, randy, good to have you on the program. >> thank you. maria: and fbi stopping smugglers attempted to sell nuclear material to extremists and the president on the bill
passing congress. we'll be back in a moment. good. very good. you see something moving off the shelves and your first thought is to investigate the company. you are type e*. yes, investment opportunities can be anywhere... or not. but you know the difference. e*trade's bar code scanner. shorten the distance between intuition and action. e*trade
fifa in any capacity. and here in this country, member of the united auto workers came to an agreement before a midnight deadline was supposed to hit. bob nardelli told that the current ceo would know no choice. >> if you think about the sterling truck plant, it's one of the highest products in the his truck line. he can't afford after a strike there. it's one of the highest percent growth products he's had. >> and finally, the associated press reporting that fbi busted people trying to sell nuclear materials. the white house saying, yesterday, these operations are
top priority for the administration. maria: thank you. president obama threatens to veto the military defense bill. senator john thune, thank you so much. >> can you take us behind the defense bill? it's clear to most americans things have gotten more frightening and dangerous around the world and we need a small military not a smaller one. >> that's the irony, you've got isis continuing to gain strength and a defense bill that came out of the armed services commit in the senate with a big margin, went to the floor, passed by a big margin. went to the conference with the house of representatives, came back to the floor, passed yesterday with 70 votes and the president signals he's going to veto it. in light of everything going on around the world, it seems right now the president's priorities are really off and i think this is an indication of, again, america's loss of
influence around the world and russians preying on our weakness. maria: what do you think that russia's intentions are? what are putin's motives? >> i think he just wants to be a player and the go-to guy in the middle east and they've create this had unholy alliance with iran and syria and hezbollah and they'd love to push the united states out of there. at some point, the president's going to have to draw a red line with russia and back it up, repercussions otherwise they'll continue to be emboldened, obviously right now nothing is slowing him down. three years ago mitt romney said he was worried about ru russia and he was mocked by obama. >> he was right. >> we're at loggerheads with putin in russia. i go back to cold war theory and mutually assured destruction. there's talk about nuclear smuggling, senator thune. what do you think that putin is thinking about this nuclear terrorism issue?
is this something we're in the back channels or perhaps there's something imminent they're going to work more chosely with us in terms of thwarting this part of the situation? >> yeah, i wouldn't be surprised at all. and i think one of the-- you know the president's probably too biggest miscalculations when he called isis the jv team and mocked mitt romney for arguing that russia was a great threat. i think what you're seeing happening in the middle east is suggestivive that russia clearly wants to regain its influence and its empire and i think that if nothing is done to prevent or to stop that, that's only going to continue to grow and i think this attempt to try and get, for the extremist groups to get radioactive material to target americans, fits in with russia's agenda. russia wants to be a disrupter and drive the united states out of that region. maria: i mean, you know, when you think about the fact we just did this deal with iran, doesn't the world gets more dangerous in terms of nuclear weaponry being sold knowing that iran is go to get $150
billion of new money? >> one of the fears, maria, always has been is that iran, of course, in addition, they'd want to sell that to terrorist regimes? you've got an axis trying to position themselves and gain nuclear came bilts that they can threaten the best of the world with. i think the iranian nuclear agreement. 100 billion or more to fund terrorism and eventually going to have their nuclear capability. the world is more dangerous that the united states made the decision, president obama, to basically withdraw. i think it's a huge mistake. we've got to provide leadership in the world. if there's a vacuum there, bad actors are going to fill it. that's exactly what russia is going to do it. maria: thank you for your insights. >> thank you. maria: senator john thune from super heroes from zombies. the comic con festival descends
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the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ >> welcome back. we're 40 minutes away from the opening bellment let's go to nicole petallides on the floor of the new york stock exchange. nicole: big news out of amazon as they try to compete more with etsie. they're launching to compete. this gives them access over 600 countries and 600 products available for prime shipping. you see a one-month chart there. over the last three months, amazon soared about 26% while
etsie is year. maria: you can see nicole and lauren before mornings with maria. the comic con festival this week is where we find our own fox business jedi, adam. how are the costumes? >> i'm a jedi now. the costumes, over 160,000 people are going to go to the convention. this is billy's first comic con, what's your attraction? >> i'm a nerd and proud of it and finally found somebody to go to a con with, i'm excited, it's going to be great. >> your character is harley from batman fusion, why do you do this? >> i move dressing up for halloween and everyone is dressed up and you belong and it's a whole day. amazing. >> we hope you have in fun. get in line, don't open until 10:00.
the best to you. this is the largest event of its kind, 161,000 people. it started as 36,000 people in 2006. there will be big named celebrities here and as i wrap up, the cost from walking dead, the game of thrones here the next four days and you can see why it attacks all of these people. look, cat woman is here. back to you, maria. maria: adam. let me ask you, what comes out of comic con? i know it's a huge deal and so many talk about it when it comes to town. what comes out of it. >> let's get down to the money of this. maria: yes, exactly. >> they're going to be premiering some tv shows and video games generating huge amounts of money. "star wars" rebel and all we'll talk about is "star wars." and "x-files," premiering the first episode. that's happening here.
maria: thanks so much. we'll check in later. futures are lower ahead of the opening bell. we'll be right back with michael block. stay with us. help you get there. join us as we celebrate eddie's retirement, and start planning your own. good.how was your commute? yours? good. xerox real time analytics make transit systems run more smoothly... and morning chitchat... less interesting. transportation can work better. with xerox. thank you for calling. we'll be with you shortly. yeah right... xerox predictive analytics help companies provide a better and faster customer experience. hello mr. kent. can i rebook your flight? i'm here! customer care can work better. with xerox. wait i'm here! mr. kent? when laquinta.com sends craig wilson a ready for you alert the second his room is ready, ya know what he becomes? great proposal! let's talk more over golf.
join us as we celebrate eddie's retirement, and start planning your own. >> welcome back. stocks under pressure and futures pointed to a lower opening this morning. we've been talking with michael block from reno trading. you think that the fed minutes out at 2 p.m. eastern will affect the market? >> i'm a little concerned herement if you back up to the september 17th meeting, maria, that statement was surprisingly dovish. the press conference was dovish. as we were talking about earlier. janet yellen even said that housing, the strongest part of the u.s. economy was seeing some issues. i actually agree with janet yellen, but the point is coming out of minutes, why expect any clearer message when the fed is going to raise rates or not. i think it's going to be more confusion. you know, a hundred handles lower in the s&p 500. it was bad news that the fed
was unclear. the fed wasn't going to raise rates. 1 had,handles higher it's good news they're not raising rates. i say we're still in a range here and i don't think that we get the clarity. maria: you're not shorting energy, but were selling energy stocks yesterday? >> yes, when you have a nice run and everything is doom and gloom and blood in the streets and you're able to buy oil services stock and run 10 to 12%. if you're a long term holder-- there's talk that they're going to cut dividend and rumors about the potential for con sol, is the deutsche bank problems is that related to volkswagen or glencore? >> it's deutsche bank. i say how are they going to
make money, where is the liquidity in terms of trading revenues, they're undercut by electronic trading and research budgets are down. m and a activity is a positive for them. the flatter yield curves, here, europe, around the world, it's a global phenomenon, it's not helping these guys make money. going into earnings season next week, we'll see the u.s. bank reports, i'm worried about those, i'm worried about who is buying bank of america and the shares-- >> you think you're going to sell the banks going into the earnings? based on where they are right now i would be fading them. see where they are by earnings. if i'm right by the time you get around to earnings, might be so beaten up, hey, it might be a good time to buy the calls on some of these, they're 5, 6 of%. maria: and deutsche bank says there are material charges that will impact the third quarter
which is why i mentioned volkswagen. thank you so much michael block joining us. joining us tomorrow, john bolten will be here along with kevin hassett and tim draper. have a great day. "varney & company" is next and here is stuart. stuart: that's a great introduction, maria, thanks very much indeed. escalation on two fronts, military and political. good morning, everyone. firstoff, escalation in the south china sea. the financial times reports american warships will challenge china's man made islands. our navy will sale close to them. america is saying we do not recognize your territorial claims and we'll challenge them. hillary clinton comes out with a sharp anti-wall street policy, tax them, fine them, restrict them. as joe biden considers a run,