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tv   Mornings With Maria Bartiromo  FOX Business  April 13, 2017 6:00am-9:01am EDT

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thanks for joining us. it is thursday, april 13th. 6:00 a.m. on the east coast. republican health care plan another shot at life. the chairman of the house for an august is trying to make a deal with house speaker paul ryan. president johnson exclusive interview said that health care is key to pursuing tax reform. >> we have to do help care for us to pick up additional money so we get her a tax reform. we are going to have a phenomenal tax reform. but i have to do health care first. i want to do it first to do it right. maria: the president looking to pressure democrats to get them onboard. plus a low low point for u.s.-russia relations how secretary of state rex tillerson characterizes the situation following his meeting with vladimir putin yesterday. we are watching the financial side or earnings season kicking off at the banks we are hearing from jpmorgan, wells fargo,
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citigroup ahead of the opening. we'll bring in the numbers when they hit the wires. oil prices and focused through the new warning on oil demand globally. the international energy agency says demand growth will slow for a second straight year. oil at 53.08 right now. comments on the dollar waiting on global markets. he told "the wall street journal" that dollar is too strong. futures this morning look like this as they are following the dollar the down 40 points in the dow jones industrial average. nasdaq and s&p 500 down a slope. in europe this morning, indices look like this. as you see the ft 100 down half a percent as is the cac quarante. in asia overnight, mixed performances take a look. asian indices for japan and hong kong were lower in china and korea were higher. shanghai composite up a fraction. your developments in the united airline scandal. the man dragged off the plane now taking steps pursue legal action. without those details coming up this morning.
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her routine tries to hijack your google home with a new ad. the technology giant took swift action against it. military would have been spared trying to keep the rams in st. louis, a lawsuit against the nfl to prevent the team from moving to los angeles good stories coming up on a busy thursday morning. fox business network dagen mcdowell, robert wolfe with us in "the wall street journal" deputy editor-in-chief, matt murray is here. good morning. great to see you. dagen: very fine gentleman to help make the world sense. >> and 30 seconds health care, taxes from a geopolitical risk him and he think we can talk about more in the morning? maria: a lot to come. i'm loving the interview you did with "the wall street journal" and the president. moving markets on the dollar. federal reserve chairman janet yellen.
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>> ignorance on my kid yesterday. what did he do yesterday.janet . china not a currency manipulator. it's a good day. >> is kind of winging my way now. dagen: it's called he's been in the job since late january and he sees the world differently than when he was campaigning. maria: right after telling us he's got to do health care first which was completely surprised to see they are so knee-deep into health care that they would not. dagen: broke the news yesterday when news yesterday morning quite frankly that the administration would not be about china a currency manipulator. over and over again. maria: annika mrsa with "the wall street journal" yesterday. >> the last 24 hours has mr. markets. your interviews are fantastic. maria: it's got a lot to talk about this morning and this is the group. member of the house foreign affairs and oversight committees
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as well as freedom caucus, florida congressman ron desantis is that desperate a lot to talk about. the cio chief investment officer of wells fargo investment institute is here going through bank earnings as well as dollar movements. under secretary of state for political affairs under president george w. bush nicholas burns is at best. former ceo and nominee in the past is at best. john maca seroquel. we will get into regulatory issues with john mack allowed the bacon her. president donald trump is threatening to stop payments to insurers and get democrats to negotiate the legislation. according to "the wall street journal." president trump said during an exclusive sitdown to speak about that. >> health care has been going along with negotiations. it's just a negotiation and it going to take a little while longer. as you probably here in congress
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is coming along. they want it to happen. we will have no democrats come is zero. that means we have to get close to 100% of republicans. not an easy way to run a government. maria: chuck schumer reportedly responded. president trump is expecting to hold hostage health care for millions of americans, many of whom voted to achieve a political goal of her appeal that take health care away for millions more. this strategy will fail. let's talk about that. republicans think health care payments approved unconstitutional in first place. do you think withholding these payments would actually happen and what is the impact? >> it's unlikely he will withhold payments. the low income americans who the deepest and democrats in power forever. he's trying to use whatever tools has got to negotiate and pressure and it's still a pretty to thread.
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even if the freedom caucus is moving towards congress, moderates and republicans are part of the problem. democrats are setting off no signals they will cooperate at all. maria: it's unfortunate what's going on. one thing he said to me this week is that it's incredibly hateful. the truth is congress used to have coffee and get together. how do you get anything done in that regard? >> it's incredibly polarizing. disappointing. what i would say is i would recommend to president take a pause on health care. they to thread the needle. they're not going to get moderate senators that port by member kautsky so i don't think it will pass and therefore they are already now starting to say tax refund may not happen this year. my recommendation is the most bipartisan policy issue we can take on infrastructure. the commerce is for it. business is for.
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>> can you do a side-by-side? >> this is what you can do. infrastructure and business tax reform. you cannot do personal tax reform. i would take infrastructure and business tax reform. that would be my focus for 2017 and you have a shot to get it done. when you get into personal tax reform it gets into itemized items and becomes incredibly difficult. maria: that's not what they're doing. >> they can do it next to his midterms coming. >> you don't know if this is a little rhetoric of trump saying i haven't given up on it and that's how he is. he's a battler. maria: yesterday the freedom caucus chairman mark meadows told a radio station in north carolina did a health care deal is very close. he said that. >> brian immediately set afterwards we have to fund insurance payments. that thing i think is a little more hazy.
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dagen: but you talk about the division between republicans and democrats. the division between the freedom caucus and the rest of the republicans in office are in congress is the reason that health care build didn't go to about. one of the things that meadows said in that interview that he did, you're referencing talking about we're going to drive down premiums. the cbo score in the gop bill in the first place said that premiums would be lower, 10% lower by 2026. i know that is further out. that is certainly passed the midterms. but they can't -- they're cutting off their nose to spite their face. that is how i see with the freedom caucus digging in their heels over what was small issues. by the way, the senate was going to rip it up anyway. >> for him on tax reform, if he got health care passed first, that is the biggest event in
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health care. because of the 900 billion. i just think if you focus on business tax reform, they would near a solution under president obama. they are closer to a solution under president trump because there was a pro-business force behind it. trip for one thing he did say earlier was if we can't and don't get health care to admit will just cut taxes. in that regard, i took it as no tax reform package coming. just cutting corporate taxes. dagen: can we also talk about the fact that there's so much going on the geopolitical stage. you're talking about syria, iran, russia china and north korea. does that take momentum away from the domestic agenda because to say he has his hands full is an understatement. >> i think it helps them right now. syria turned it around a little bit. and then he even gave some of the people who are just opposed
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to have some reason to support them and it turns the tide a little bit for some people. he's clearly feeling he could do little more as president and not just having failure headlines, but success isn't people praising. maria: there are deals being done. given what has taken place in syria, that the leverage to say you are backing this guy up for the u.s. and then there is another deal being done on that as china. china suggest they will help us with north korea. they did report yesterday they were going to have the currency report and not label china a currency manipulator. that was a big deal. >> there is one challenge in all the news yesterday showed it. it's very much in his pocket. he's the one talking about china as currency manipulator. he's the one the one talking about tax reform. very hard for many people in markets to now depend on exactly what he thinks. these can change quickly. dagen: can we point out that
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after the election, before did not duration, the narrative was trump closer to russia pulling away from china. it's the exact opposite. maria: you help us with north korea. we will be good on trade. we won't label you a currency manipulator. >> yesterday, this is a guy who likes to win. he wants to legislate away and. he has a little wind behind his back right now. i'm surprised to still focusing on health care, but he could get a real win on tax reform and that would be a homerun because it hasn't been able to get done in decades. maria: it's true. we'll talk all about this. stay with us at 7:00 a.m. eastern. i'll be speaker was caucus member ron desantis. you don't want to get this want to miss that given all the issues around freedom caucus and the help your situation.
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first of the turbulence continues for united airlines. united airlines. that meant that were removed from the overbooked flight might be pressing charges. legal ramifications coming out. gm puts on the brakes. the automaker will idle factories. we will tell you what is behind not move next. right back here. ♪ think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at
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maria: welcome back to the passenger dragged from his seat in an overbooked airline flight is now suing the airline. lauren simonetti with the latest. >> drama continues. dr. gal who was left with a bloody face after forcibly removed from the overbooked united flight on sunday. lawyers now asking an illinois court to order the airline to preserve surveillance footage and any information related to the fly. they plan to hold a news conference in chicago this morning. meanwhile, the city itself taking action. tomorrow is or is involved in removing him from the fly. they are placed on administrative leave while investigators continue to review what happened. the airline itself offering a refund to every single passenger on board the flight, also promising to no longer have police remove paying passengers from overbooked planes.
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looking at shares, they fell 1% yesterday. so far this week the company has lost $250 million in market value because of the incident sunday. fox news has learned that the cartel member accused of fatally shooting u.s. border patrol agent brian terry and 2010 years in a u.s. government issued god is now in custody. a joint u.s.-mexico task force apprehended that god at a ranch in northwestern mexico. authorities face a $250,000 reward for information leading to his arrest. terry was killed during a gunfight between border patrol agent and a five-man cartel group also known as the rep crew. they are also known to rob drug dealers along the border. his death exposed operation fast and furious in which the government as criminals to buy guns at the intention of tracking aonth they made io mexico. two guns were found at the scene of terry skilling. she can stay capital lansing now
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resending its decision to call itself a sanctuary city in the pressure for business. the city council voted 5-2 to reverse the fix did nothing to to get the city sanctuary status. the measure by the city's mayor. here's what the mayor had to say to tucker carlson last night on the pushback from businesses here in >> it seems like your city council didn't agree. why did they see the brilliance of your plan? >> come on, tucker, i said nothing like that. we are seeing democracy in action. this discussion is part of it. we should have more conversations where we shed light and not he. reporter: david einhorn ramping up pressure on general motors to split its common stock into two classes. the move comes as einhorn's hedge fund greenlight capital dominates through new candidates for the company's board and also accuses gm of misrepresenting his proposal.
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to investors and rating firms. bloomberg is reporting the automaker has drawn attention for upping its inventory here in the u.s. but now the company says it is only building a pitstop because it plans to idle truck and suv factories for 10 weeks in order to retool them for the new models. back to year. maria: a lot of pressure on gm stc tesla increasing in value. >> elon musk either is the most brilliant guy ever maria: lucky >> or desecrate a short squeeze i've ever seen in the history of the market. the idea that it's valued more than gm and ford is absolutely incredible. there has to be a short squeeze going on if not based on multiple. >> einhorn is pressuring gm. he doesn't seem to be getting very far thing. i don't know where that's going for him. another tech company getting
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attention from investors. maria: does it feel like 1990s to you? what tesla and amazon and confused market values versus traditional. dagen: at least they make something. in terms of valuation, they have not proven that they can ramp up production in any significant way. ford and general motors know how to manufacture a variety of different vehicles and do it quite well, even being union shops. tesla has yet to prove that it can mass produce a car that is reasonably priced to the american people. the valuation is not incredible. it is absurd. maria: gmc or io very bare a lot of credit. when trump went after her, she took a hard line. she's taken a hard-line. she says no multiple.
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dagen: i will add one quick thing. ceos of car companies are shown in. elon musk a little. to be the head of a car company. that's all i'm saying. he might be greatest on under rich folks, but you start trying to sell to the people i grew up with, good luck, buddy. maria: trouble for the energy sector. growth expected to slow down for a second year in a row. but that means for you at the pump your burger king getting foiled while google posts a stop to the latest commercial. back in a minute. liberty mutual stood with me
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maria: welcome back big markets amex today. international energy agency warning it expects demand growth to slow down for a second straight year. right on the phone is priced teachers are not fox news contributor phil plan. though, oil at 53 and change right now. your thoughts on this report. >> there is no doubt they're expecting mandslow a little bit. a lot of that is because what we w in russia and india earlier in the year. right now india has some currency movement that slowed oil demand a little bit. i don't think it's indicative of overall demand growth. even with falling demand, the international energy agency as saying right now the market is close to being in balance and that continues our production car. we could actually fall into a supply deficit later this year.
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>> fail, it is robert. how are you. nice to see you. what do you think opec continues to say they sign out for and do you think they actually stay within what they are saying? it seems like some people go outside and make a statement and then they do what they want. >> at this point, you cannot underestimate. they shot everybody. even the international energy agency says there's compliance is that 99%. other private forecasters say it's even higher than that. 104%. anybody who underestimates opec's resolve has got it wrong. if you look at the non-opec compliance, it is improving dramatically and that bodes very well for an extension of cut at the opec meeting in may. >> where do you think -- of what price are they happy do you think over the next six months.
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>> they want to see oil trade to $60 a barrel. they keep talking about the increase in u.s. oil output. they are not afraid of that. they realize it is going to take time for u.s. and non-opec producers to match their cards. even with slower demand growth of 1.3 million euros a day, that is going to be in a much tighter market in higher prices for cartel. maria: we live it right there. a fraction of this morning. phil flynn. thank you so much. we'll be hearing from the oil companies sued in rms of first-quarter earnings. were you saying? >> phil is right in the right in opec stays within the supply bookends, then at the end of the day you will see oil continued a trend of higher. maria: i would think given the policy is a tapping into the energy or, having more supply on
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a global market, that would be prices lower over the long-term. >> the geopolitical risk bodes well for oil prices. with your left, look to your right is something going on somewhere. >> is good. for the u.s. industry, are merging a little bit more as opec pulls back. dagen: use of energy sector in terms of giving us more leverage on the world stage, every make it easier to pump oil in this country, it gives us more control muggeridge for example and julia turner pointed out the fact secretary of energy as part of the national security council. it is significant. the ability to produce fossil fuels here in the united state is an important point to making us less reliant on countries that hate us. trade him in growing divide between the u.s. and russia right now. president trump declared relations or 10 countries at an all-time low. escalating tensions there.
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we would give it a backdrop of the meeting yesterday. as the first muslim woman to serve as a u.s. judge has been found dead after being reported missing in the hudson river the body was found. he found. details as authorities investigate a cause of death. we will bring you that storyy cp next. difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into insights that transform their business and will enhance the game for players and fans. the microsoft cloud turns information into insight. bp uses flir cameras - a new thermal imagining technology - to inspect difficult-to-reach pipelines, so we can detect leaks before humans can see them. because safety is never being satisfied. and always working to be better.
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maria: welcome back, happy thursday, everybody, thanks so much for joining us. i'm maria bartiromo, it is april april 13, 6:30 a.m. on the east
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coast. all-time low, highlighting the strain relationship between u.s. and russia right now. tillerson had first meeting with vladimir putin following last year's strike in syria. >> clearly our view is that the reign of the assad family is coming to an end an they brought it to themselves with the conduct in the war in the past few years. we discus our view that russia as closest ally has the best means of recognizing ability. maria: very latest as satellite imagery suggests that north korea is planning yet another nuclear test reportedly today. on wall street it's all about the banks today. we are going to be hearing first quarter earnings and ahead of
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opening of trading that will head the numbers up today. he told the wall street journal yesterday that the dollar is getting too strong and with that the dollar soldoff, indicateing down -- ftse down 2 third of a percent as cac quarante in paris. in asia overnight, here is the story. nikkei average is down a quarter of a percent. was it a smart move or a mistake? commercial that's getting pushback from google this morning. why it was force today pay blackberry $800 million. the gateway to the west, the details between st. louis and
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the nfl. president trump spoke about the deepening divide with moscow over syria and other issues. >> it would be wonderful as we were discussing just a little while ago if nato and our country could get along with russia. right now we are not getting along with russia at all. we may be at an all-time low in terms of relationship with russia. this is built for a long period of time, but we are going to see what happens. maria: joining us right now former u.s. army intelligence officer andrew, thank you so much for joining us. how do you see the relationship right now. what do you think needs to happen to repair relations with russia. >> i think saying that relations is an all-type low is hyperbolic. dagen: you basically read my bubble. >> the berlin air lift. i think, look, it says something
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to the depth of divide between the u.s. and russia that with the most potentially prorussian president in history or at least in modern history since end of the cold war, u.s. and russia arat the same lodger heads under obama, under bush and clinton and so and so forth. look, i'm not sure anything can repair the relationship with russia. they want to hang onto assad. they want to have freedom of action on eastern europe and we want to prevent that. >> andrew, you're talking about the two places that have the largest stockpile of nuclear and so we have to make sure that we -- even though they are adversary that we get along and we figure how to play in the sand box to the best of each other's ability, how do you start getting there? >> look, that's part of tillerson's mission. tillerson is over there to pay the good cop to nikki haily's bad cop at the un.
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he's not saying regime change. he's clearly with a message about assad personally and assad's family and the future use of chemical weapons. what i would suspect tillerson is saying to him, we don't mind having someone in this regime running the country in the future. we don't even mind having a major u.s. presence in the future, what we do mind is having assad personally there. coming is first step on that. >> andrew, one of the big news events yesterday didn't happen in moscow, it happened when president trump i actually believe in nato now and i support nato and nato is strong. what do you make of that stance and that turn and what it says about the russia-u.s. relationship going forward? >> boy, the best thing in washington is when the swamp creatures start being nice to you. [laughter] >> it speaks to u.s. national interest, once you become the president you realize that the alliance structures are really
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important and i think -- i think also they have learned a little bit to speak the correct words, you know, diplomatic jargon, how to reassure nato allies but certainly both the president and the secretary of state over the last two weeks have said a lot more things that make our nato allies comfortable. maria: let's move onto north korea. take a look at the satellite imagery suggesting that the nation is preparing for a sixth nuclear test possibly to coincide with the 105th anniversary of the birth of the state founder. he expects him to cooperate. perhaps they get better terms on trade, listen to this. >> i think china can help us, i hope china can help us, we talked about trade and i can tell you, china will do much better on trade if they help us
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with north korea. maria: do you think he knows that? >> i told him, yeah. maria: is trade policy enough to convince china to do something concrete? >> well, you know, there are have been two really interesting articles, one say saying north korea to avoid provocations when the u.s. warships are near it, the second one is saying that north korea nuclear tests are a strategic embarrassment for china and potentially a danger to beijing itself and not just the united states and the region. so i think there's definitely the emergence of a second narrative within china and chinese government that there may be -- that north korea is not necessarily the strategic asset they thought it was but there might be room to cooperate with the u.s. and finding a more permanent solution. dagen: read into this for what it's worth. china sent north korean
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freighters loaded with coal and turned around and placed orderers from coal with the united states. so at least that in terms of trying to pse china's action and with the uss cole, the strike group there moving to korean peninsula, it's expect that had at least japan moves warships into the region to join forces with the united states. so there's a lot happening and a lot of like incremental steps in terms of putting pressure in north korea from our allies in china. >> the rap on the chinese has been they with ramp it up and they don't really press the levers, they would rather have the regime there that united korean peninsula. are there more levers that should be pulling. >> this is why historically korea has been divided, competing great powers like china, like japan, like oceanic powers like the united states
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and they each want a piece of it. certainly, there's more leverage the chinese could be pulling. i think the coal embargo is such a huge piece because it's 90% of korea's income. a lot of cash flow is restrained, you're going to see serious behavioral changes from the kim regime. maria: do you expect anything from the military drills in south korea this morning, what will be the impact? >> well, i think the most dangerous moment is april 15th, which is big day in north korea because it's kim jong un's birthday -- >> this saturday. >> exactly. i suspect he celebrates his birthday different than we do in the united states, but, you know, no, i think there is -- we are closer to military confrontation in north korea than we have been since kim jong un took power in 2012. >> when president trump talks
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about the trade and currency manipulation with respect to china, i don't think thas really -- what gets anything. at tend of the day, china is a global player. they are going to move and navigate to wherever it's best to them. it's all about the idea of not wanting the confrontation to take place in the south sea. >> absolutely. not least because any confrontation with north korea gives us an excuse to strengthen our military allies in the pacific rim particularly japan, south korea, australia, philippines, elsewhere. if it's right in the wake of a north korea nuclear provocation the sympathy is with us. >> can you talk about what president trump did the last week and why did we move into north korea and the changes that
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took place because it got a lot of press -- maria: he said it was an armada. i'm just trying to find out what he tried to say about the armada. >> i think it was the biggest ever. look -- so its actual presence is not that unusual. i would say that it is unusual that the president is consciously translating his deterrent success in syria into a confrontation in north korea. he's linking that explicitly and the onus is on kim jong un. i'm not bashar al-assad, you want a confrontation, you can
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havene. maria: jpmorgan just reported earnings, 1.65 a share versus 1.5, the stock a moment ago was trading down, what's your take of the banks right now? >> they're expected to have a pretty good quarter because a year ago was a bad quarter for them. but jpmorgan, i think, is doing pretty well relative to others. maria: that's the leaders. >> u.s. banks are in really good position right now. maria: how big is that going to be for them in. >> between reg reform, business sector feeling better, confidence is up, u.s. consumer is doing better, credit cards, u.s. bank is in a good position right now. dagen: two or three more times this year. maria: by the way jamie diamon is saying that the u.s. consumer
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is doing well. it has been the business sector. >> a little soft in the way that surprised them. >> credit card balance is over a trillion. now you have the highest it's been in maybe ever. maria: yeah, all right, we will leave it there. andrew, good to see you. great inside as always from you. new details released on the fugitive that sent a manifesto to president trump, why the suspect claims he needed to steal the firearms and google says it is not okay to burger king, shutting down a new burger commercial that attempts to highjack home devices, details coming up.
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maria: welcome back, check out market this is morning. the stocks are lower, fraction 28 points in the dow jones industrial average. taking a look a couple of names on the move quacomm to pay $9 billion to blackberry, patent loyalty disputes over past shares. shares at 53.43. warren if you -- if you buffet, wells fargo is going to be reporting first-quarter earnings later this morning. they were better than expected at 165 on revenue that $29.5 billion, that stock is up. the first female muslim judge in the united states found dead in the hudson river, lauren simonetti with the very latest. what a story. lauren: body of sheila salaam
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found in river, the cause of death under investigation. wisconsin accused of robbing a gun store apparently wrote an apology letter, he want to purchase the guns but was legally barred from doing so because he's a felon. the letter also thanked the gun owner for protecting amendment rights. video of him apparently reported before the theft shows that he's holding an i don't ever size white envelope containing 161-page manifesto addressed to president trump. burger king set an online battle with this new ad campaign last night. it was intend today trigger voice-activated speakers with the description of the whopper.
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here you go. >> you're watching a 15-second burger king ad which is unfortunately not enough time, but i have an idea, okay, google, what is the whopper burger? lauren: google disabled the voice command about three hours after burger king introduced the spot on the youtube and that set off a battle in wikipedia, the burger contains 100% rat and toenail clippings. burger king eventually restored the original content n. the markets u.s. banks kicking off earning season, jpmorgan chase aly ou city a wells fargo reporting before opening. stock trading higher in
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premarket right now. citi is expecting to report highest while wells fargo to report lower because of the bank scandals last year. the sector has been under pressure since early march, maria. maria: coming up next, ramping up a fight for the rams blocking the team's move to los angeles. details back in a minute listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery
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runners on first and third, sprints towards first base, throws into the dirt, run scores, but head collided with gardner's neck, gardner who had the presence to corral back to first base lay on the ground a few after and no conscious but gardner has bruised jaw and strained neck. chicago cubs world series champions has a nice ring to it. last night rigley field. 108 years represented on the ring, 2.4-carats. plus another 2 and a half carrots of sapphires. that signifies 108 years.
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cubbies lost 2-0 to the dodgers. the original mr. triple-doubled honored the modern day statistical monster before thunder played regular season finale, broke for the most triple dollars, hall of famer saluted russell westbrook. >> one more thing to say, mvp. [cheers and applause] jared: hard to imagine it's a discussion for mvp. many think it's between westbrook and the rockets james harden, thunder and rockets open best of 7 series sunday so do top overall seat warrior against blazers saturday. sports, grizzlies and clippers and the jazz will pay in la. both got into the playoffs, chicago will open at boston on sunday and indiana takes on
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cleveland and washington. and washington goes against atlanta. maria: st. louis reportedly filing a lawsuit against nfl basically for relocating the rams to los angeles. robert, would you agree that this is the sour grapes for sale? >> they want a billion dollars in damages, robert. >> listen, they are private owners and they're allowed to do what they want to do. most of them don't take municipal funding, it's private stadium financing. maria: that the nfl violated the own relocation compliance and profited off the move that's leaving the city without a football team. jared: think about it, the nfl, monster entity unlike anything else we have, 32 owners but it's still one league. the purpose is make as much money as possible for the nfl. they weren't going to get done in st. louis, that's why they left. the fact that we had three teams relocate in a year speaks volume. maria: st. louis doesn't have a team. dagen: they should have done more as a city and people to
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hang on to the team that they had and that's one of the reasons they relocated, am i wrong? >> no, you're spot on. >> tv rights and everything. what are we kidding? dagen: better barbecue, though. >> they take a big economic hit from this thing and they don't have nearly the base obviously. >> they need to be able to support the team. i have the american flag pin and this would be for the three american nhl teams who went 3-0 from the canadians last night. maria: thumbs up for that. take a break, then passing up perk it is shocking number of people w credit card rewards yes? please repeat the objective.
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maria: good thursday morning, everybody, welcome back, thank you so much for being here, it is thursday april 13th, top stories 7:00 a.m. on the east coast. reviving health care reform. mark meadows is confident in a deal and the president will take action to get democrats on the table once again on health care. threat from north korea, could launch sixth missile launch saturday. another policy focus for the u.s., russia and secretary of state say relationship is all-time lows. two men arrested near chicago yesterday on terrorism charges. authorities say that they we
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wanted to fly the isis flag on the top of the white house. bank earnings setting tone for markets today. jp morgan, stock is better more than 1% as you can see. president trump's dollars weighing on global markets. he told the journal the dollar is, quote, getting too strong. stocks are down fractional amount right now. s&p 500 down a third of a percent. in europe declines across the board, again, fractional moves here. ftse and cac quarante down two-thirds of 1%. in asia overnight, mixed performances to report. nikkei average down two-thirds of 1%. reliving one to have biggest stories of the financial crisis. >> i am talking about giving you $100 million. >> that's not going to do it. i would love to help you but i can't. >> 175. >> i wish i could. >> $300 million. >> if you put a 4, we might be
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able to do something about that. maria: robert de niro as bernie madoff. deputy editor in chief matt murray is here. great to see you. maria: she looked like her. dagen: top that de niro. maria: are you done with it? >> kind of a depressing story, really. >> i love de niro, i can't wait to see it. maria: he definitely got the look down, so there's that. coming up this morning, lots to talk about. wells fargo investment chief investment officer darrell is here to talk about financial earnings this morning as well as regulatory environment. former secretary of state under president george bush nicholas burns is with us and labor
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secretary nominee andy puzder is with us. president trump threatening to withhold crucial obamacare payments to force democrats on the negotiating table according to the wall street this journal. the president told me that health care reform is coming. >> i think we are doing very well on health care, it's been very much misreported and we will save perhaps $900 billion. you look at the kind of numbers that we are talking about, that's all going back into the taxes and we have to do health care first to pick up additional money so tha we get great tax reform. maria: senate minority lead -- responded to the president's threat, here is what he says, president trump is threatening to hold hostage health care from millions of americans, many of whom voted for him to achieve a
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political goal of repeal that would take health care away from millions more. the cynical strategy will fail. joining us right now freedom caucus member congressman ron, congressman, good to see you, thank you so much for joining us. can you give us the status check first and foremost s there a new bill underway and how close are you? >> well, i'm not exactly sure. i can tell you that the white house and particularly the vice president have done a really good job of bringing to the table new ideas that can get us into a place where we are going to have a product that's ready for prime time and i think most importantly that will put a downward pressure on insurance premiums, i think the original bill wouldn't have done that and so i think the white house is keenly aware, so i've had a lot of good ideas brought forward that i could be comfortable with. i don't think there's a final product yet but i definitely think there's a way forward. maria: when the president said earlier this week to me in that interview, we've got to do health care first, we are still negotiating in order to get to
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tax reform that was a surprise to people because people weren't clear in terms of that you guys are still in it the way you are, we thought that you were, you know that the congress and the president were turning the taxi to tax reform but, in fact, you're not until health care is done, take us through process. what has changed in the last two weeks since gop bill failed? >> well, i think, maria, the failure of the bill was based on an artificial deadline and deadline set you must pass this bill by this date. there's no reason why we had to do that and we hadn't build consensus within our conference. you didn't have consensus on march 23rd. most people who looked at the bill, look, you guys have to fix it, do it right, don't go fast, take your time and get it right. and so the american people ultimately aren't georgia to care whether the bill passed on march 23rd or april 2 3rd, what thir going to care about is they see improvements in health care. i think we are moving in that
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direction. maria: right. >> i think people understood once that bill wasn't able to go that we can't walk away from it because we have been promising it for so many years, we have to get down and getting a deal. i think that there's definitely a pathway for it and i definitely think we can't quit. dagen: congressman, people expected you to get something done, you had seven years and the insurance companies are putting together a price in their plans for 2018, those would be presented june and july to the insurance regulators at the state level, so there is urgency, i didn't even throw in 2017, working on reconciliation rules for 2017 year. >> it's not significant. senate wasn't going to take the bill up till may anyway. i think we could have ironed
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things out rather than set the deadline, it's important to point out, you said we had time to put up with the plan, there's pretty broad acceptance of the replacement elements of the plan, not that they are all perfect but members are fine with that. the disagreement has been on the repeal part of it, the initial bill left a lot of obamacare intact and what more limited government conservatives are trying to do, can we pair back parts of obamacare so we let market forces flourish. the replace element is probably more there, we have to come on grips on repeal. maria: the caucus chairman mark meadows says he's confident and a lot feel that they are hostage to health care. you believe that you can get a deal this year, what, in the next couple of weeks, because
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meadows say they may cut resource short and vote to legislation, that's according to usa today, are your colleagues cutting the trip short? >> well, i would support that if we have the consensus for sure and so i think that we are looking at a relatively short horizon, maybe more than a week or two, by the time we get to mid-may, we are going to have to send this to the senate, i'm optimistic that we can do it. yes, it does help with tax reform and tax reform is very important and i certainly want to do that big time but we still have to recognize that you have to get the health reform right, if you don't get it right and a year from now people are saying, man, my premiums are going up. i think a lot of them are going to say, no, you should have gotten it right. we are in the process of trying to get it right. maria: that's a great point. >> congressman, it's matt murray. the president blamed the freedom caucus and put a lot of pressure on that group and said, they
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were -- you're talking about repeal. we know that there's been provisions of the mandates, do you think republicans might compromise but the problem is the divide with the gop was pretty severe, can you tell us more -- is the freedom caucus, are you seeing things move that direction or is the freedom caucus changing your stance on some things? >> well, i think if you remember the initial debate, the bill was unveiled in early march and said, okay, we are going to pass it in a couple of weeks, take it or leave it. there was initially no interest in amending the bill, finally towas the end there was movement to change parts of the bill, so i've been open to a variety of approaches. i mean, you know, my constituents say you have to repeal it outright, as you mentioned, there's moderate who is may not be supportive of that. there's other things that the vice president has put forward, some folks in the white house about letting states apply for
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waivers, maybe let states set out free market alternatives to obamacare that may not go quite as far as i want but would be something that we could at least going to constituents saying, we are delivering some benefits to them in terms of lower costs. >> congressman, the freedom caucus cared a lot about the premiums but the moderate conservatives as well as a lot of the gop governors cared about medicaid expansion, ohio, michigan, nevada, okay, and on the senate side collins, portman, you go on. how do you strain the circle, the congressperson in virginia, how do you square that circle? >> that would be some way where you could compromise, you are conservative that is are really interested in injecting market forces into the health insurance
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system. we don't like the obamacare mandates. we think we can do that a better way but we recognize there's medicaid concerns and that would be something even though florida didn't expand medicaid and i think that there's been problems with doing that, maybe you give a little bit there so that the moderates will have a better with that in exchange of moving into a public direction. dagen: why are you guys on a two-week spring break if this is not getting done f this is so critical to the american people f tax reform and tax cuts -- health care reform, repeal and replace, you name it, why are you on a two-week break, why didn't y'all stay and work? >> well, i was supportive of canceling the recess and staying, hammering it doubt, getting it done and then bringing it to the floor, and i think we should have done that. now, we -- i'm not on a
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vacation, i'm here working my district, i'm going to go right after this i have an event and we have been moving around, so we do move when we are down here. i think you're right, this bill needs to get done, we had made progress over the last week, week and a half and while you still have people negotiating, it's just a little bit different when people go back home and it's harder to keep in touch with people. so i think we probably should have stayed and i was supportive of that. maria: yeah, a lot of people feel that way. [laughter] maria: you're working obviously, congressman, but your colleagues. let me ask you, u.s. foreign policy under fire this morning. you along with jason chaffetz have requested documents of a chemical weapon's deal, president barack obama rather than taking steps opted for a diplomatic response where the syrian regime turned over
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stockpile for destruction, this approach failed. obama administration policy obviously coming into question after last week's chemical attack on syrian citizenships, congressman, the national security subcommittee chairman, what are you looking for in relation to these documents? >> well, we want to know what the did the administration know about the syrian chemical weapons because just a couple of days before obama left office susan rice said, we've got all the chemical weapons out, president obama said that as well, now that we know assad still has chemical weapons, you've heard certain former obama administration officials, well, we knew all g that he had chemical weapons left over. really, that's not what you told the american people. we need to figure out what they knew and when they knew it and why they didn't inform the congress. we have some combat advisers in that theaters, not necessarily in assad sphere of influence but in other parts of syria and to say that you have gotten rid of all chemical weapons, if you
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knew that that wasn't true, to me that is a mayor problem and i think it raises questions of how we evaluate the iran deal because they are saying the same stuff there. maria: congressman, thank you. we will be right back
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maria: welcome back, two men in suburban chicago facing terrorism charges after arrested for allegedly conspire isis. lauren: federal prosecutor say the two men bought cell phones at a local store that they thought would be use today detonate bombs in syria. according to the complaint, we wanted to see an isis flag on top of the white house. we humans may not be alone in the universe if you thought we were. nasa expect today reveal new evidence that oceans exist in our solar system, meaning there could be life beyond earth. the discovery was made by the space prh has be exploring saturn for 13 years and the saturn's moon titan is believed to have water and jupiter's moon has been spotted with water erupting from the surface.
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ceo salaries rose by 6%, thomas, charter communications, $98 million, nike mike parker, 47.6 million, mark kurd, ceo's of oracle third and fifth. bob iger made $40.1 million. the study looked at figures from the largest corporations by renew. plus this. >> it's a fraud. basically just a big scheme. lauren: new trailer of the wizard of lies, robert de niro playing the new york city poncy scammer, biggest fraudulent act in u.s. history. madoff pulled off a scheme for years and his wife is played by michelle p --
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maria: north korea could be gearing up for a test. what the trump administration would mean to the financial services sector straight ahead anything worth pursuing hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird. bp deloped new industry-leading software to monitor drilling operations in real-time, so our engineers can solve problems with the most precise data at their fingertips. because safety is never being satisfied. and always working to be better. did you know slow internet
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maria: jpmorgan kicking off first quarter earnings, 1.65 per share on revenue of 25.6 billion, the results are setting the stage for wells fargo and citi who are also reporting the quarterly numbers this morning. joining us darrell, wells fargo chief investment officer, darrell, good to see you, thank you so much for joining us. does jpmorgan tell us anything
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about the entire industry? >> it should be a really good quarter for bank earnings as a whole. you looked at the sector you say that earnings year over year are up 15%, second only to technology for q1, q1 is going to be a strong quarter. there's three things you need to keep your eye on as it relates to q1. one is 9% earnings growth across the board which is the best first quarter since 2011 and single probably best quarter we've had in six, seven years. second, you've got revenue growth finally showing up 6 to 7%. maria: that's big. >> we haven't had that for a long time. and lastly, you're seeing earnings narrow. the sectors that are doing really well, are doing well and the ones that are not, are not. >> does this mean this is not going to continue because we are seeing the consumer be strong, as you're saying a great quarter for banks, how much upside is there to be had here? >> unless you stop the curve,
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limited upside to the banks from here. maria: limited upside because of the valuation, where the stocks are? >> yeah. if you look at 15% that's year over year comps, so what you need the curve to steepen from here and economic activity to pick up. reality is q1 is probably going to come at 1% gdp growth, you need a solid jq to make the bank move. >> the minute trump came in and started saying, we are getting rid of dodd-frank, we are reducing regulation, consumer confidence boosted and all of a sudden, you know, the banks -- until yesterday rates were moving up, but outside of that, you need -- everything kind of worked perfectly and now i think the earnings will show it.
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>> yeah, i think you're right. you're getting a little bit of the feedback of the trump trade, we are up 12%, we had the weakening of the dollar, you saw financials fade, some of the action that is took place in november through call it march first when the march peaked are starting to fade back to prove it to us. maria: what about that in the dollar is down again today because in the interview with the wall street journal the president said it's getting too strong, what does that mean going forward then? do you want to buy stocks here and what are you telling clients? >> we would tell clients to hold tight here. we think dollar's worth of cash more valuable than putting it to work at this moment in time. it doesn't mean cycle has fully ended but we are eight years into it we have to be thoughtful of where you put money to work. >> if you take out sectors that
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ran with trump, the markets have done okay. maria, says we are up 12%, isn't that amazing? yes, we could be saying that around the same level and could have been amazing run up 12%. >> i completely agree. we have been telling clients, 12% since the election, 20% year over year, be smart about this. make sure you're taking profit as you go. >> can you quickly just speak to the regulatory climate because it has come bag and we -- back and we haven't seen any action on dodd-frank, how uncertain do you think the climate is? >> well, i think for pendolum has swing and it's the tail-end in anticipation that regulation walks itself back, whether it's
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dodd-frank, latest chat around glass-segel. the idea that you're pushing that back, pushing toward a more healthy business climate, threat economic engine run versus regulatory overhang. maria: helps earnings. >> at the end of the day, the banks, even if you unwind dodd-frank, they are not going to lever their balance sheet back to 35 times, they're not going to get into the whole prop trading. they spent five years getting ready for the regulatory paradigm. the problem is as dow began, 210 so flat, there's no real movement for rates. the curve is telling you that even if the fed rises, it's not
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going to do much. >> be careful of not getting ahead of your skis on equities. we had a ten year at 2, 2 and a half percent at year-end 2017. we don't think so. there's still strong demand for treasuries and if you look at where treasury issuance is, 2017 will be one of the lowest years that we've had in several years. supply demand dynamic is not good there. rates stay probably around this level or lower, inflation is going to tick higher, the yield curve is going to take a big jump, we are not so sure about that. maria: do you still see the same demand for stocks that you see? >> it's interesting, we are starting to see early demand for stocks, fund flows have just start today turn post election. so when you look at your traditional indicators that you'd be more concerned about, credit spreads, fun flows
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walking back, m&a activity, ipo activity walking back, none of those are happening. that suggests wur -- you're not at the end of the cycle. maria: we will leave it there. rex tillerson in moscow, what the tough talk means for relations between the united states and russia and then miles going to waste, the new study that shows a surprising number of people does not redeem credit card rewards, back in a minute yes? please repeat the objective. ♪ thrivent mutual funds. managed by humans, not robots. before investing, carefully read and consider fund objectives, risks, charges and penses in the pspectus at
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maria: that there's a morning everyone. thank you so much for joining us. it is thursday, april 13. 7:30 a.m. on the east coast. tensions rising over north korea. new satellite images show that they are planning another nuclear test this weekend. president trump talked about the role and dismantling the threat. >> made a very good bonding i think with a very good chemistry together. i think it was to help us with north korea. i think he means will and i think he wants to help. we will see whether or not he does. maria: tensions come with north korea amid a strained relationship with russia. hit his first official meeting
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where they say relations are at an all-time low right now. banks are the top story on wall street right now. the stock up ahead of the open as you can see there. almost 1%. we are were waiting on first-quarter reports. president trump's comments on the dollar the dollar is getting too strong. that sent the dollar lower. it's excited to be down about 20 points. declines across the board as well. the major indices down about half a% right now with the ft 100 down 40 points. we did have some trade data at a china and was is pretty good. the shanghai composite was up a fraction. the index in korea up almost 1%. the shucking number people second number people that choose not to redeem credit
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card rewards. almost getting a new look for the summer. check it out. the video of the hairless ticker elite --dash mike tickle me, that's going viral. that's coming up. new satellite images is suggested that the country may be preparing a sixth nuclear te. this comes as u.s. warships are steaming ahead. it is a show of force to deter the north. they're calling on the soul military ally. president she wants to do the right thing. we do very good chemistry together. i think he wants to help us with north korea.
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we talked trade and a lot of things. the way to make a good trade deal is to help us with north korea. otherwise it were just to go it alone. maria: dealmaking with china. the country's leader is being watched. >> we are sending an armada of very powerful we have submarines that are very powerful. we have the best military people on earth i will say this. he's doing the wrong thing. he's making a big mistake. maria: joining us right now is former secretary of state nicholas burns. thank you so much for joining
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us. how do you feel about this. do you think china is on board with helping the u.s. and he gets positive that they have appeared to form a relationship there may be some trusted there trust there from mara lago the other night. i think the chinese do not want to see provoke a crisis. they're frustrated with him. they alsdon't want to see north korea dissolved. because they don't want to see that with a democratic republic aligned with us. president trump is right to pressure the chinese. i'm just not sure that they will give him more than he gave any other president in the past. maria: that is an interesting take away.
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they don't want full change. because in one scenario if there's any kind of refugee flow. they don't want to see that right up on their border. i think a president trump is doing it the right thing here. he is practicing very effective diplomacy over the last week. there might be a limit on what is possible. and president trump has been saying to the chinese this is partly in your your responsibility in his right to do that. will just had to see how this plays out. what you see at the beginning. it's probably the most serious threat to the united states. they could have a nuclear weapon that could reach our west coast of the united states. it's unacceptable.
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the americans to have to put up with that kind of threat. do they have particular end goal in mind of something that they want it's probably the most isolated as you know government in the world. as a family run dictatorship. there's been three of them alst a mafia dictatorship. they are highly repressive there probably the world's greatest violator of the religious rights. of their own people we are watching here as president trump is shifting towards china it's remarkable press conference yesterday.
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president trump came out in support of nato. frankly i think this was the right balance. we need china to stabilize north korea and we've we got to be containing the russians. tillerson met for nearly two hours. no sign that the meeting is any of the rising tensions. there is a low level of trust between our two countries. right now were not getting along with russia at all. we may be at an all-time low in terms of the relationship with russia. it looks tense between tillerson and his russian counterpart. where do you think their relationship goes from here. what was your take away. it was a very stiff message.
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they divided that country. they had been bombing civilians in syria they are aligned with the sod -- with assad and the russians interfered wh our elections. i actually think this is the right policy with support from the whole world and standing up to the russians but in a pragmatic sort of way you also need china to be cooperative in east asia. i think the trump administration is re- centering itself. these more pragmatic voices. maybe they have more weight right now than someone like steve being in. these are very impressive people.
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he reiterated his call on member nations to pay their fair share for defense. he no longer considers nato obsolete. your thoughts. i was at nato. i believe in the alliance of presidents. it's a great power differential. russia has no allies. with 20 allies. he said it's a great alliance he did say that nato had not been fighting terrorism. i think this shift towards nato is very positive for the united states. can you just comment a little bit about syria.
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what do you think would be the next steps for the trump administration on what may be the best possible strategy. >> i supported the airstrikes but now we need a comprehensive policy and i think the administration would be right to push the russians and this may take years. 500,000 people dead i think that's the way we should push. they said that as a priority. listen to what president trump told me about the moment he actually broke the news to the president of china when he was with him. i was sitting at the table. were now having dessert we have the most beautiful piece of chocolate cake you've ever seen. mister president let me
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explain something to you. we just fired the missiles. then cut back and depleted. it was another disaster. we just launched 59 missiles heading towards iraq. and i wanted you to know this. heading toward syria. what are your thoughts on that. it must've been quite a dinner. and frankly, i thought it was to the credit of the united states the president trump moved so quickly.
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we back to our commitments to defend civilians against chemical weapons. we will see how it goes with the chinese. ambassador, good to see. i think you so much.
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jimmy kimmel poking fun on secretary of housing development. he was stuck for about 20 minutes in the elevator. supermodels dancing on the beach.
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to make you don't have to go outside to feel the temperature rising thanks to victoria secret. they are launching a sexy new ad featuring the angels on a beautiful beach. it's the latest summer trends. katella starts this weekend. the 1 billion-dollar mark. there $435 million here in the u.s. the beauty and the beast is expected to make even more when it hits theaters in japan next week. the 20 favorite from the 1990s the tamagotchi's.
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they were able to feed, discipline and play with their virtual friends. basically a pocket-size future device. they are re- releasing the original one in japan. it has all of the original features but it's a bit smaller. they're listing it at $17 the same price bolivia are not that sold for it back in the 1990s. a tickle me elmo without for his terrifying the internet. watch. coming to us on twitter. someone there posed a question what does tickle me elmo look like without for. and now we know. with this very creepy answer. hey it's summer.
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even if you've never taken advantage of credit card rewards you're not alone. 31% have never redeemed their rewards. matt scholz, good to see you. do these statistics surprise you. what more people not do more people not use their credit card rewards. >> they just don't had credit card rewards top of mind. they redeem them really regularly.
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the credit card company doesn't want to make it easy for you to redeem it. do they really encourage that. >> they certainly love credit card rewards as a driver and as a headline to get people to sign up. in terms of actually getting them to redeem those rewards. and if they push it that hard. do american express people redeem more frequently than the other bank cards. is it really: correlation to who does higher or lower. what i do know the cashback is
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definitely the most popular thing to redeem before. they can't seem to get that for anybody these days. how does that work. you're actually getting cashback i must have a ton of awards. they can write you a check. or it could just be a statement credit that goes straight to your statement. and you never even see this. i think your study really likes that cashback opportunity and it probably shouldn't be too surprising
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are the ones who really like the cashback. they're very practical. they're very value driven. they don't focus on it when they get to the statement. should we be calling the credit card company and same check for my rewards. and then put it towards the bill. >> i remember i used to get quarterly or monthly statements. it's probably all online. we appreciate your time this morning. thank you. matt scholz joining us. the former chairman and ceo will join us in the next hour. the alerian mlp etf can diversify your equity portfolio
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maria: good thursdays morning thinks so much being here this morning, welcome back. i'm maria bartiromo. it is thursday, april 13, your top stories right now 8:00 a.m. on the east coast, health care reform another shot at life, president trump threatening to withhold payments from insurers, in interview with "the wall street journal" he says that will get democrats to the negotiating table a low point for uvushan relations secretary of state rex tillerson characterized situation following meeting with russian president vladimir putin yesterday the president chose that sentiment. >> right now we're not getting along with russia at all. we maybe at all-time low, in
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terms of relationship with russia. putin is leader of russia. russia is a strong country. we are a very, very strong country we are going to see how that all works out. maria: very latest there meanwhile, j.p. morgan the tone for bank earnings, beat profit and revenue expectations surge in traikd activity, helped boost bottom line citi group better than expected 1.35 versus estimate of 1.24 on citi group as well, just coming outright now president trump's comments on dollar weighing on global markets he told "the wall street journal", that the dollar quote, is getting too strong, stocks follow the dollar lower on that, dow industrials down 30 points what we are expecting at open in europe declines across the board to report take a look ft 100 down half percent cac quarante in paris down two-thirds of a percent dax in germany down a third of a per cent asia overnight mixed performances trade data out of china, for the month of march
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better than expected over shanghai composite was flat on the session, that the kospi in korea best performer up almost 1% developments unify tonighted airliners the plan dragged off plane taking steps to pursue legal action a look at the maserati, just unveiled new york auto show taking you to hot wheels right now on plaza downstairs, all that coming up this morning joining me to talk all about it fox business neck dagen mcdowell 32 adviser vceo reportedly earth wolf, editor in achieve matt murray here. dagen: good morning, we need a sports card. >> banks, oil, dollar, russia, china north korea, syria. maria: then there is bank earnings. dagen: wheel in a white board. >> hard to keep up you are flying. maria: a lot going on. >> and to be with trump and to be with trump big morning.
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>> have issued a united airlines you didn't bring that up a scandal there citi group better than expected first quarter results as i see on screen numbers 1.35 a share versus estimates, wells fargo is beating profit expectations as well, wells fargo just coming out hitting the tape, at a dollar a share versus 97 cents a share but there was a miss on revenue that is wells fargo shares down right now, versus other two that are up, bank stocks in the news today. >> a strong going to be a strong quarter for banks, we are seeing that this morning, wells an issue because of sales scandal,are they were expected to work through, outlook murkier with what president said on rates yesterday whether banks are going to get how much growth exactly they are going to have. maria: interest rates going up. >> best quarter in a long time. >> wells fargo gave back 75 million dollars has to give back that money. >> obviously, i mean i was a big fan of john but obviously
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when you have a chairman of a company, and -- the claw back started post lehman crisis, for a reason. maria: then health care, president donald trump is threatening to stop payments to insurers in a bid tget democrats to negotiate new legislation that is acrding to "the wall street journal" here is what president trump told me in exclusive sit down earlier this week. >> health care has been going on you know negotiations, and just a negotiation and going to take a little while longer but as you probable hear and congress is coming along we have great people in congress they want it to happen. we will have no democrats, zero. that moons we have to get close to one hundred percent of the republicans, not an easy we to run a government. >> joining us right now the former cke restaurant ceo form labor secretary nominee and inside public defende inside. >> andy. >> you had in a moment nominee
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for labor department to see ugliness in terms of democrats pushing back on everything president trying to accomplish here how do you see it. >> well, it are you talking about with respect to to the obamacare bill. >> yeah but i also want to ask you obviously about the fiduciary we will get to that in interview but go ahead, sir. >> there does seem a relationships in washington, d.c., to anything the president wants to do, i think he is he is doing what any ceo would do, using every opportunity, to bring people to the table i think these payments, that he has been talking about wth holding reduce deductibles a great way to get democrats to start talking he's got to get people in his party to start talking i don't think any want to go overwhelm have constituents coming on up to him complaining they lost payments because of republican action i think the president is doing what he needs to do to get people back to table on aca. >> was that one of the reasons you didn't go forward because of pushback from left. >> there was a lot of pushback from left my problem was i lost some support on right
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when i didn't have enough republicans two republicans that we knew approach much going to lose anyway they didn't support betsy, losing one more republican that i wouldn't get the nomination so when i find out we lost, another republican, not wanting to tilt windows i think a lot of pressure from left people my hearing kept getting dragged out office of government ethics wouldn't negotiate approve ethics i filed in joan during that period of time levity came down hard on me once betsy devos was approved, or was confirmed, and -- and what they start to feel republicans maybe waivering, they came on even harder so i think a loss to republicans that hurt but i think pressure from the left. >> and the nice to have you on. >> good to see you robert. >> with respect to to what the president and about maria spoke about yesterday i was
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taken aybak that he wants -- taken aback he wants to push health care. maria: wants to attack health care before tax reform in exclusive interview this week people worried tax reform -- to health care. >> listen to this. >> case i am saving a tremendous amount hundreds and hundreds of millions of dollars we're safing on health care. we are going to have a much better plan than obamacare which is failing, tax reform is going to be tough would be the be as tough as health care, health care is very, very difficult. >> if it doesn't happen just enough i will start taxes but the tax reform and the tax cuts are better if i can do health care first. maria: robert. >> were. >> the question i was going to say yes no question for the president if he could get health care passed brings 900 million -- billion forward with respect to tax overhaul but chance of that being attlegd the needed based where
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moderate republicans democrats freedom caucus very slim, my recommendation would be let's get something passed legislatively either tax reform, or real infrastructure bill, and now i am very nervous that this won't get done in '17 if we go book at health care what is you're view on this? >> first of all, i agree with you, but i -- try and look at it i think maybe the way the president is looking at it which is, what is really this is a populist president, what i am from a political rspective you would like to get something acmplish like infrastructure, taxes, fromconomic or business perspective you would like something done like infrastructure or taxes. but what is really going to hurt the american people what is going to hurt working class and lower middle class people? it is this prongsed collapse of obamacare, these premiums way, way up as you know wouldn't up 7% last year, they are going up 25% this year, and the premiums are on top of the deductible so if you are paying 6,000 a year in premium, and you've got 5,000 dollar deductible you are paying 11,000 dollars before
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you get any benefit from your insurance policy i think what president wants to do again being a populist president is to try and address the issue that is going to cause the most pain to working and middle class earns i understand that i would love to have the business and the political solution, but i think there is a lot of sense to what he is talking about when he talks about trying to end the pain of obamacare, and look, the democrats should get to blame for this but longer it lasts more republicans are getting blame going to go home see constituents, and there is going to be problems. maria: that is what was saying. dagen: not the democrats you mentioned, andy it is dagen mcdowell, the republicans. >> hey dagen. dagen: drnts get on bored with your nomination how much spinlt blame do a lot of these republicans deserve for not pushing ahead with progrowth agenda from the white house? >> they deserve a lot of blame, the problem with the republican party right now is that they -- that we have been in minority we have had president obama for so long, we were in minority before
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that we really don't understand how you govern we really don't understand the benefits of moving the ball down the field maybe not the perfect bill but the bill that gets ball downfield like democrats did with obamacare i got to tell you joe manchin bernie sanders not same page on obamacare but had enough sense to vote for the it moved that ball down the field republicans have a very difficult time doing that, it is hurting them hurting them a lot. maria: right stick to principles they -- >> we had recent labor numbers last week, february came in, under 100,000 one of the reasons i people hyping infrastructure, the fastest multiplier of gdp the best -- for jobs yes we had a very good january we had a slowdown in february, i mean, if -- if we don't start going back to 250 plus we stay where we were in february, then you have to really start thinking about a jobs bill again at the end of the day, the one thing that i think a lot of the business community liked about this
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president is his pro business, his jobs wage approach, and i think that this health care, you know once again going back to it, is scrambling a lot of what the country wants the country really wants jobs and wages. do you get concerned after seeing last numbers. >> you know the last numbers were really kind of a battle between two surveys you are right the establishment survey showed we did not generate the number of jobs we needed. but if you look at the household survey what produces as viewers know produces the unemployment rate, we have 472000 more people employed, 365,000 fewer people un ployed noiment rate went down for the right reasons about labor participation rate didn't decline normally causes a instruction in unemployment rate doesn't indicate labor market strengthening the laborer participation rate heldz percentage employed at highs we haven't seen since
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february 2009 with respect to general population, in october of 2008, with prime working age americans 24 to 55-year-old americans. so if you look at the household survey the numbers were really good the problem is the establishment survey didn't produce the kind of number we would you like but that wasn't even in line with adp report did show, the kind of job growth that we want to see so i think we need few more months to know whether those job numbers are going in the right direction or not. but we do need, look we always need economic stimulus we need job stimulus, we've had 8 years of basically 2% gdp growth that can't continue. but i do understand, why the president wants to get obamacare if i could fst something could be devastating for working middle class americans those are people that put him in office he needs to be very focused on what they need. maria: we will watch the developments andy thanks so much for weighing. >> pleasure thank you. >> andy joining us key issue for administration, russia
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relations rex tillerson met with russian president vice president yesterday blake burman at the white house has that story good morning to you. reporter: good morning to you as well there was a sharp change in tone here from president trump at the white house yesterday, as it relates, to he relations with russia during the campaign the president had suggested s momentum times maybe he could get along with vice president and russia. but yesterday, he made it appear as if these two countries are miles apart. . >> right now we're not getting along, russia at all we maybe at all-time low in terms of relationship with rush, putin is leader of russia. russia is a strong country. we are a very, very strong country. we are going to see how that all works out. >> vice presideladimir putin se agree saying on twiks in rush the following quote one could say the level of trust on working level especially on the military level has not
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improved but has rather deteriorated as putin had surprise meeting yesterday with secretary of state rex tillerson in moscow that meeting lasted for some two hours after that meeting tillerson held a news conference with his counterpart, lavrov pars both polar opposites as relates to chemical attack in syria april 4 lavrov saying i am kweeth obviously the subwhere our views differ yesterday senior managers reporter speaking with reports did not make it seem as there there would he be a face to face meeting between president trump and vladimir putin any point in the future. >> blake burman at the white house coming up united airlines struggling to pull out of the tailspin in passenger forcibly removed from a flight is suing 2 airline we've got the latest as backlash drags on then president trump's boardwall under fire before ground is
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broken new over the from wildlife conservationist to stop construction on the project, back in a minute. ♪ just he work work to me i will work work work, it is -- na ♪ yes?
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after he forcibly was removed, from that flight, on sunday, the city itself is taking action two, more officers involved in removing him from the flight, on administrative leave investigators review the incident, airline offering refund to every passenger on that flight. also promising that no longer will police remove paying passengers from overbooked planes seems good strategy not to have o police moving people from seat after they pay fell another 1% lost 250 million dollars in market value because of this incident at one point the stock loves at a billion dollars in market value, then it came back. what a story. >> they stabilized what is also happening bringing out of woodworkve person's complained about airlines about flying, about united everybody had a bad
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experiencing, whatever even as to this case they don't put consumers firof customers first people peel i don't enjoy it, it is camped i have to pay for everything touch on large problem of image customer reerlgs. >> ceo response was horrendous. dagen: initially statement united put out reaccommodating, seats. >> yesterday blamed system failure, which is really not good for a ceo, because you are the guy in charge it is the system. >> i am shocked the policy that is employees can take a seat of paying passengers. that just seems illogical to me all about -- but terrible. >> i can explain that, trying to get a crew from one city to anotherto so another plane can take off inconveniencing one or four passengers for the sake of entire planeload of
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people trying to fly out of louisville, so that is and by the way, the airlines they do overbook planes case they use algorithms to adjust for people who don't show up i see ridiculous backlash likes of governor chris christie saying the government should ban airlines from overbooking planes. so you are a republican governor you are dwoktsdz for government traditional intervention into the business of airlines. maria: you are right. >> you know what you don't need government because yawniteed is going to pay price for treatment of this individual. maria: get out of the way -- >> a big hub, by the way, interesting i don't know if you saw the president comment about it yesterday on interview if you saw that. he said, airlines should pay up keep going higher he said at some point get to place -- >> that is what delta does
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ked passgers at what price are you willing to give seat up they give out gift cas, of 1,000 dollars -- >> what they did a if on flight should have been done at gate if they get to flight everybody there why not say somebody has to give up a seat otherwise we koobt take off. >> right. >> let everybody know, but to target one person. >>drawing line at police not dragging you off bloodying you a good point, they finally did that. >> quickly make this point i fly a lot ifully almost every week, and the vast majority are of the time it is the flying experience is awful not because of airline but the way passengers behave period. >> period. >> of course, i i had. >> horrible how he was treated how he was treated but i see horrific behavior by passengers every week.
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>> still ahead explosive developments in the "fast and furious" scandal capturing the fugitive expected in 2010 murder of border patrol agent, where they tracked him down next. ♪ (music plays throughout) ♪ ♪ ♪ ♪ ♪ [vo] quickbooks introduces rodney.
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maria: welcome back suspect alleyly coiled border patrol agitate terry in 010 arrested in mexico here is lauren. lauren: all years later joint u.s.-mexico law enforcement task force caused man suspected of fatally shooting border patrol agent brian terry killed december 010 a gunfight between agents and members of 5-9 cartel death supposed operation fast fast
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allows to apply guns with intention of tracking guns, two of the guns found at the scene, of terry's killing, presidentrump's bored wall far from reality a lawsuit against it already filed. the first suit against the wall filed by conservation groups and democratic u.s. congressman who represents large area of the arizona border despite threat of more lawsuits, president trump told maria in your exclusive interview with him that trump is already looking at plans for a wall. >> one hundred percent, hundreds offed byers many, many designs i have seen 10 of the top but i want to see more. lauren: more than 200 companies expressed interest in border wall lansing michigan no longer a sanctuary cityskins rescinded status a week after voting for us after businesses worried the status would draw unwelcome attention, to the city. investors looking over
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earnings from some biggest banks, jpmorgan chase shares are up half a percent in the premarket, after first quarter results topped expectations earnings getting a boost from trading revenue 13% from a year ago, citi group higher before market opened up a tenth of 1% ci. i reported better-than-expected results wells fargo shares are in the opposite direction this morning shares down 1 1/2%, earnings per share beat the street estimate but revenue 22 billion dollars, that missed the forecast, wells fargo still in spotlight following that scheme over sales practices last year thank you. coming up next banks among biggest win, in postelection trump bump from november as well as this morning, former morgan stanley ceo chairman john mac join me with take on wall street rally an regulatory environment snap to report for the first time since roller coaster debut on wall street when snapchat parent company will make its first public earnings call.
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back in a minute. ♪ ♪ usa, the usa ♪ ♪ ♪
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maria: good thursday morning. welcome back. thanks so much being with us. i'm maria bartiromo, it is re
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members to the bored that comes in his push to split stock in two classes more on pressure coming up stock this morning up a fraction. luxury on open road we are going bond wheel of the brand-new maserati downstairs on plaza we will take you to
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that, first biggest u.s. bank kicks off earnings jpmorganan wells fargo before opening bell shares jpmorgan chase higher after results came in better-than-expected, as you can see, citigroup headed into after beating expectations, citigroup lower as you can see flat. really right along break even 5850 wells fargo however under pressure following release of latest numbers with revenue 22 billion dollars missing analysts' expectations stock down one and three quarters percent former chairman ceo morgan stanley john mack great to see you. >> good to see you. >> thank you for joining us. >> thank you. >> every time i think of you i think one interview i came to the floor of morgan stanley, when you had come back, the aspire trading desk was so happy to see you come back. >> a great -- day for me, and hopefully same way every time i think of you let me tell you what i think with after 9 i
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was running credit suisse you interviewed me i broke down. >> you cried you had a lot of friends clooekz workers per i should a horrible day for all of us unfortunately you and i did share that day together. >> it was incredible. >> incredible look where we have come terrorism again number one issue on everybody's minds what are your thoughts in terms of what is happening in the world today, you see the jeebd out of trump administration, and north korea now on docket, syria, china, russia, how do you see all these. >> well, i see them as issues bubbling for a while new president leadership more aggressive addressing these whether putting more support behind allies taking action like in syria. i think this issue in korea is a huge issue i am glad to see to reach out to president xi
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working with him on it, hopefully, things calm down hopefully the chinese can put pressure on north korea to slow down, back off but i think some point, as much as like to be -- not as directly involved, are some point we have to get very involved i think this administration is doing that, we are going to have a lot of wins have some losses but we cannot be passive the world changed terrorism is global now i think to let things go and just try to -- go down the middle of the road is very difficult to do, and i think president trump is not going down the middle of the road he is taking action i am supportive of that. >> absolutely. >> on that front. >> why he. >> in terms of china you spent a lot of time in china let me ask you about that, and whether or not we could come to some kind of agreement with the other sfurp pow-- superpowe china now of trying to get through negotiations deal telling chinese president if
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you help us on north korea maybe a better situation on trade what should trade deal look like given your experience in china. >> well, i think clearly, the chinese want open-door policy on trade with u.s. we are a huge market it is very important, i don't know about the specifics of the trade deal but i don't think if trying to deal a relationship with government today, in china we are, i think we have to be very about flexible on trade do i not the think we can -- i think that would hurt all of us, look at the end of the day china produc deliver something in our country that we use and need very low price should take advantage of it and make sure -- exactly, make sure it is a fair transaction where we get their support in other areas. maria: ask how should we deal with for example, the chinese saying, look you are a financial services company john mack you could come sell to our 1.2 billion people, but you are not going get an ownership do joint venture, 49% not going to ever own out
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and out. how do we deal with that. >> i think that changed. >> it has? >> if you go back, 6 or 7 years ago, morgan stanley was able to apply a piece of a-share company are a brokerage company in located in shanghai all over china. and had a lot of the same governance rules that we have here. we have learned a lot we have taught them a lot i think the -- the kind of a transfer of technology and nl of the markets, and also the regulatory environment compliance so the chinese have opened the door we may not own it outright, but i think over time morgan stanley most likely majority shareholder may be not but doesn't make any difference what we want is to have a level mailing field -- level-playing field in that country given what happened with securities it is happening. >> interesting the way you see it seen change over years. >> i have. >> critical spots running major investment banks, so in
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terms of of the consumer and investor in china, what do you see in terms of flows do you think there is more appetite for actually buy stocks there is appetite, to send money or across the world to invest in u.s. stocks for example. >> i think at the working level, and maybe, jr., executive level most money stays in china and they reinvest through the local securities company i think chinese and that is broad statement i am sure someone will say you don't know what you are talking about but they like owning things they want to take risk they do take risks what has to be very direct and very focused is the regulatory environment, make sure that everything is above board same thing we do in this country you can't have rumors you can't put out false information it has got to be honest straightforward information. so the chinese investor i think heavily involved trying to own a piece of equity in that country. >> let's talk regulations in
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the u.s. >> sure. >> trump wants to revamp dodd-frank give the backed of the business climate regulatory environment last couple years i know has been business segment sitting on cash unwilling to put money to work, because of the regulatory burdens and really not knowing what is around the corner. >> i think it is pretty specific at least from my view and maybe maria it is because, i look at a lot of of this from investment banking, i think the banks investment banks had a tremendous amount of pressure put on them by regulators in 2008 given what you did the risk you took you deserve this keep you of regulatory oversight to make sure we got all back on a level-playing field put in, the discipline we needed to manage risk more effectively, and make sure that weren't putting too much leverage on at that time we needed i think
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very stringent controls government clearly put that on us but i think as you go out six or seven years after that i think has become almost -- like fed is running the companies and regulatory running companies i had ceo major bank say john i am sitting on so much cash, they will not let me raise dividend not let me buy stock back in if this continues we are going to be a utility stock, and not a growth stock, is to i think initially the right thing to do i think we need to easy up my impression you are just in shington president trump is going to ease up i thi healthy. >> rollback in regulation expected to impact earnings a good way. >> exactly. >> john morgan stanley current ceo james gorman says he is against repealing dodd-frank. >> well i am not either begins against it or for it we need to block at implications if you did repeal it i do think
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we did and do have more control but needs to ease up as far as i am concerned, i don't think dodd-frank whether you have it or don't have it so long as you have the oversight, of what we've been through i think james gorman or jamie whomever it will maybe live that nightmare i don't see with prior to that time leadership we will go down that road again. >> loosening appropriate. >> why he. >> rollback in regulation one policy coming out of this administration we've got tax reform, earlier this week i spoke with president, and he said he's got to do health care first before tax reform a lot of people saying why is tax reform hostage to health care reform. >> the deal on health care, what is your take on the impact of tax reform what do you want to see? because after all we are looking at highest tax rate for the corporate sector across the board in you know, in industrialized countries. >> maria to me not about the rate it is about how money is
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being used, when you pay your taxes. the president has talked about, infrastructure, we love new york, infrastructure is not that good in new york, when i moved to new york 1968 they were billed second avenue subway. >> are you kidding me. >> 1968? >> you are right just finished it. >> well. >> -- >> that is right. >> so to me not overall taxes it is how we use the money our infrastructure without question go to la guardia airport third world airport. it is not getting better i know they are going to build a new one, so i am not that focused on do we need to reduce taxes if we can do that, and cut spending areas where we've not been efficient how we spend moneythat is. we need to fix infstructure across entire united states. >> should be a priority. >> in my view i think health care should be a priority
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tric tricomri. my wife focused on medicine there are a lot of movements segregated men one of them presbyterian hospital i am involved in we are building a clinical for integrated men where we treat whole person not just one aspect of a disease health care is critical, and americans need to be smarter about how they live what they do, and i think integrated approach to men would be terrific. >> i love with a you are doing with new york presbyterian you have been incredibly philanthropic what else have you been doing since left morgan stanley tell us how you are allocating capital what you are doing with time. >> best thing i have done, is realize i am a terrible golfer i don't play much golf anymore. maria: okay. good. >> i am fascinated by young men and women in technology. they think differently than we do, they act differently, and very creative. so i spent most of my time
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either investing with or coaching some of the technology, and some of the things would come out -- man from israeli israel came to my office through relationship with a broker an app if you are at airport getting ready to get on a flight, for some reason flight is delayed an hour, and you take your iphone or your device, you tap it scans it twice, sends it to the cloud, you get audio. >> my god that is great a good idea. >> he has over a million users now another company i am involved with blink health care. located in new york, 75 million people in america who either under insured or not insured at all, what blink health care using technology is able to get it dratically lower price you learn a lot in syntech ups and downs i think it is going to continue to grow you see gold
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dpold started markets going to be in that area, that has spent a lot of time in technology. >> about terrifically i know you are going to tell us more weekend on wall street week john our guest on wall street week good to see you thank you so much join us this weekend for john mack on wall street we will be right back. ♪ realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ ostriches don't really stick vitheir heads in the horns on their helmets. and a real john deere is actually real affordable. you learn something new everyday. the surprisingly affordable john deere e series tractors.
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maria: united airlines faces fallout from all sides this morning after forcibly dragging a passenger from a seat, joining me jou "varney & company" host stuart varney stow weigh in wow what a story. >> yes. the question is a lot of our viewers are can go me, why itself it still with us why still going on about this the dragging incident? >> what let me give you two reasons, why i think it is still with us. number one, cameras the cameras are everywhere, we said before, i put it it to you maria, if there was no video of the dragging there would be no story it wouldn't have gone worldwide wouldn't be outrage because you couldn't see it.
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because you can see the it, we are indeed outraged number one why still with us number two, i think that video was the spark that lit the antiairline fire if you like. none of us i think many of us really like to fly these days, the trip to the airport standing in line security take your shoes off please search walk wait in line like cattle call to get on plane guy sitting next to you coughs all over you ticket price fight for overhead luggage space, of course, overbooking airlines were right for this kind of thing to i happen to him the outrage spreads around the world continues on and on not going away any time soon, we've got press conference this morning with one of the passengers' lawyers maybe one of his relatives up it comes all over again, repercussions on and own and on why still on it. maria: you are right, the ceo
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just decided now to give you know, the flight free make flight free to all passengers should have been first first response. >> hold on if you gi money to ever passenger onboard they accept it, i don't think they can then sue you. because you have accepted compensation, for what of you been put out for i think the move. >> i see strategy more see you in ten minutes, "varney & company" begins every day 59 a.m. eastern after "mornings with maria" about 45 minutes away from opening, and dagen has stocks on the move over to you. dagen: thank you "the wall street journal" reporting activity investors ienhorn wants gm to nominate three candidates for company board accused gm misrepresenting proposal to investors and rates firms einhorn pushed for gp split stock gm shares up more than 10% since last year.
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>> now snap parent company of snapchat, had a rough time on wall street, since going public last month, snap announced it will report its first are quarterly earnings report as a public company, on may 10. you can take a look at how snap shares are fairing right here right now, coming up next, under the hood of the hot new maserati we will get a firsthand look at the extremely limited car special edition when we come back. ♪ ♪ your insurance company
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switch and you could save $509 on auto insurance. call for a free quote today. liberty stands with you™. liberty mutual insurance. coming to you outside the plaza with hot wheels maserati rolling out latest speed demon
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new york international auto show special edition ghibli just made debut yesterday this morning exclusive look under the hood joining me in plaza head of maserati north america tom thanks for joining us, marisimo means. >> extremely black in italian. >> absolutely, that is why tell us why you wander this extremely black. >> this look black look first time we have done this 102-year history on maserati sedan car blocked out, handles are block 20 inch black whls, black, the look these days, about time we did on one. >> very sheikh tremendously black i love marisimo extremely black in italian italian automaker love maserati for that speed a highlight here how fast does this go.
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>> this car has a 3 lynch iter twin turbo v-6 ferrari engine 360, 4. seconds 10 miles per hour -- 76 miles per hour is crazy favt what are youing. why will you go so fast -- it is what we can go so fast as opposed you know going so fast we don't advocate about doing 170 an hour the question -- highlights of this car because so beautiful, extremely black, it is beautiful for that reason but also there is some beautiful highlights. >> this is a limited edition only 450 being made for the north america u.s. -- united states car has special features you can't get anywhere else all one package, sports seats, sports steering wheel. >> check out interior. >> have the leather is gorgeous. okay. nice. >> have power shifts, sports
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steering wheel the front go ahead and put start button left-hand side. >> all right i am going to start it up this is how i start it just pressing the button. >> push on brake put on the brake, hit start. i'm sorry go ahead, i apologize maria hit start button. there we go. >> whoa. >> do me a favor rev it hit that gas podiumal. >> here we go revving it, whoa that is hot. >> that is -- 404 horsepower. >> what is it 404 hours pow-- horseper anything else we should know this is classic in all cars -- >> the standard sound system exclusive for mass rat inside
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what is the price of this car i love happy to drive out with it. >> sufficiently maserati 71,600 sperg edition 77,250. >> 77,000 great to have you on program we love having you rewill be right back. stay with us "mornings with maria." ♪ ♪
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>> ♪ >> this fantastic limited edition of maserati. i'm putting my seat belt on because we're out of here. i'm with tom! ooh! have a great show, everybody, have a happy easter! . stuart: that's good. the timing was well done, maria. drive carefully. how quickly things change. the president makes a big shift overseas and at home. a big shift. good morning, everyone. first off, putin will not condemn syria's poison gas attack. he stands behind the assad regime and president trump says relations with russia are at an all-time low. that's a big change. but we are on better terms with china. they are helping with north korea and the president now says beijing is not a currency manipulator. that's another reversal. before the election, the


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