tv Mornings With Maria Bartiromo FOX Business May 2, 2017 6:00am-9:01am EDT
customers who purchased the new berbers on friday. maria: go should go saight in the happy meals. thank you for wtching "fbn:am." with that, we say good morning to you, dagen mcdowell. dagen: great to see you ladies. be careful how fast you say that. might get you in trouble. thanks so much, ladies. i am dagen mcdowell and four maria bartiromo. it is tuesday, may 2nd. top stories at 6:00 a.m. eastern time. treasury secretary steve mnuchin telling maria will take two years to get 3% growth in this country. how we get there, straight ahead. rebuilding america's infrastructure. president trump working on a plan to repair decaying roads, bridges and airports. we sat down with transportation secretary elaine chao and got a sense of when we could be if legislation. >> i expect that we will have
some kind of infrastructure initiative by the third quarter. some details to be filled out before then and we will present a new plan to restore america's competitiveness. dagen: amarnath first on the fox business interview straight ahead. earnings in focus, especially apple. the tech giant after the recording bell today. all the numbers seen it coming up. futures hover near the flat line. it is down for the dow yesterday. dow futures up five points right now, but the nasdaq closing at a new all-time high on monday. in europe, stocks are higher after the long holiday weekend. gains across the board there. in asia overnight, markets mostly higher as well. the only losers, shanghai composite down a third of 1%. mayday protests turning violent. demonstrators in portland targeting police and dozens arrested. the latest developments ahead.
a travel warning for america. the state department saying that citizens should be aware of the heightened terror threat for europe. we have the details. airlines on the hot seat, ceos of united and american head to capitol hill after videos were posted to social media and shown aggressive behavior and it sparked outrage against the industry. all of that and so much more coming up this morning. kirsten had been here, dominic duval is with us and fox news correspondent lea gabrielle. are you ready to cover everything? apple coming up and getting the economy moving. that is priority number one. so much going on overseas. >> absolutely. look inward to hear more about infrastructure. most americans no infrastructure spending is something we need condescending people on both sides of the aisle want to see.
dagen: i agree. the question as always is how are you going to pay for it. who is going to foot the bill? is it to people who use the rose the most? treasury secretary elaine chao sat down with maria bartiromo. you will hear that interview. former defense and economic minister angela merker, k. t. gutenberg is here. general jack keane is a favorite. we will talk about, you got it, north korea. you're cumbersome and a former small business owner, congresswoman claudia tenney talking about health care reform, tax care reform. let's get right top story. treasury secretary steve mnuchin laid out a timeline for reaching president trump school. a 3% growth in this economy. and that interview with our very own maria bartiromo at the conference in los angeles yesterday. watch this.
>> it will probably take two years to get a 3% growth. and then we can have a sustained level. that is what we are projecting. obviously, the sooner we can pass taxes, the sooner we can get regulatory relief and the better we will be. dagen: mnuchin said tax cuts and regulatory woes spur economic growth. >> i was relieved to hear this. this is the first time we have a realistic timeline for some of the stuff coming in to where it should be. they've been talking about this since trump got elected yet he was going to do this and not in the economy would take off. we haven't gotten legislation passed into the time it infiltrates in the economy gets momentum it probably won't be starting until the fourth quarter of this year. realistically looking at the end of next year before it all filters back into the economy. dagen: when i hear democrats
like chuck schumer pushing back against the broad outlines they laid out and he's talking about tax cuts for the rich. we are not on board with that. if you flip that on its head, chuck schumer is essentially saying you should be happy with this lousy economy. you should be happy with 3% road for a decade. you should be happy your wages are growing so we are going to do anything. >> it is so unfortunate because bringing the tax conversation in that narrative always as democrats do doesn't hurt anyone except for the american people. you stonewall and you have this obstruction attitude and not they never really gets done well enough to the point where you can see a 3% growth. what is interesting is watching the deficit talk in congress. what they've been trying to do is make the bill for the next 10 years because it has been a
timeline. there's actually been talked about increasing the window to maybe 20, 30 years so that businesses have the confidence to not feel like this would be a tenured name. they really make investments and see the growth rate. dagen: kearse missed touching on a story in "the wall street journal" today. you are so spot on. pat to me as one of those who suggested a longer horizon to overcome obstacles in terms of paying for it to the congress passes tax cuts. >> you make such a big point. all this comes down to form a consensus that democrats in congress, being able to grow the economy at 3%. we've seen stocks rise 12 since trump's election. we've seen the economy not been expanding at the pace we want to see. .7% in the first quarter. but a lot of these things will come down to is whether or not
at consensus building happen in congress and that's what we're not seeing right now. dagen: as the show rolls on, we'll talk about how democrats see the spending bill as a victory because they've got so many handouts in it. still funding for planned parenthood in there. no border wall, and not little, like $5 billion in items for democrats. again, they love spending other peoples money, but they don't love giving it back to them. that is critical because the consumer was exceedingly weak. >> they're talking about tax cuts for the rich. the median income in this country for the average american family is plus or minus $50,000 a year. that is for a decade. no increase in their wages, knowing reason their ability to stand and democrats are so painting a picture about the rich. and we start helping ddle-css families in this country? dagen: and making it easier to
do your taxes. infrastructure spending rather quickly. the white house said president trump is committed to unveiling a $1 trillion infrastructure package this year. the transportation secretary of brainchild told maria they are looking at a number of different funding options. listen to this. >> the president made a bold decision that we need to invest in our infrastructure and he wants to challenge our countries to come up with a trillion dollars over 10 years to repair and rebuild our infrastructure. the other day, nick baldini, the omb director came out and said $200 billion -- the $1 trillion would be in direct federal funding. the remainder will come from public-private partnership, from perhaps sale of government assets and also probably some
benefits from the tax reform package that is going to go on next. i expect that we will have some kind of infrastructure initiative proposal by the third quarter. dagen: one hot topic. a controversial funding option is on the table and it is raising the gas tax. it's on the table is based on what president trump said yesterday. he said the following he was certainly can trigger a measure raising the gas tax is in another interview he did. it's been stagnant. it is not kept up with inflation and cost of repairing the road. the individual states to raise the gas tax. i want to call him out in a positive way for this. at least he's being intellectually and ideologically honest about this issue because no politician ever races that
and he doesn't care. he's like why not. >> drivers, truckers are willing to spend the extra money if they know it will actually go repair the roads and bridges and infrastructure because it costs them money. every time a road is broken or shut down, a bridge is broken or shut down and they can't get their crime to the other side of the country. if the consumer sees value coming back. we had to have honest conversations with citizens. >> for the trucking industry, yes they are speaking out and say out and saying there's some support here. average americans is a number they see over and over again. we don't see our prices over and over again. we do see gas prices and where they are and how they affect our bottom line. that is some pushback. dagen: federal gas tax --
[inaudible] >> on a rational level, i agree. >> how about an import tax on only the oil and gas imported in this country that was her infrastructure to and and gas production here in the united states while limiting the oil and gas coming from abroad. >> trump has to watch this because of lower and middle income voters that turned out for him are the ones most tip it out. it is -- dagen: it is regressive many low-income americans use a flat, get hit harder, but you could offset it by basically cutting the payroll tax, which is something charles krauthammer talked about. my issue over and over again and i've caught so much heat over the years talking about raising the federal gas tax because it is a user fee. you essentially when you drive an electric vehicle, when you
are funding road construction, you have people paid to fix the roads that much. >> when consideration being looked at as things like toll roads, toll bridges and things like that name. they can't avoid bridges, but they can avoid toll roads. dagen: this is the time and trump says something like this. good on him for just throwing it out there. we are going to look at it. maybe it doesn't happen. >> it hasn't been since 1993. dagen: i was in kindergarten then. may day protesters in portland turning violent, targeting police and the latest development there. issuing a travel warning, america's soul to be aware of the heightened terror threat for europe. what you need to know is next.
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arrested in march that turned into a riot. protesters destroyed a police car. the property started fires in the street and have to police. may day also known as international workers day for political action with another progressive organization. again, turn violent in portland. the state department issued a travel warning for u.s. citizens traveling to europe. recent attacks in france in the u.k. stating terrorist sympathizers are self radicalized extremist may conduct attacks with little or no warning. the travel warning in effect until such time occurs. airline executives including ceo oscar munoz had to testify before the house transportation committee this morning. the coming after his 69-year-old doctor was dragged off a united flight last month to make room for airline employees.
other executives include the vice president of american airlines, alaska airlines and southwest airlines. the hearing also come in after an american airlines flight attendant to the stroller from a woman traveling her two young kids and argued with another passenger. all of that in the details on that are cloudy. fox business will carry the hearing live at 9:30 a.m. eastern time. all of this certainly coming up in those hearings on capitol hill. well, the shows will go on. hollywood writers covered tv movie studios did reach an agreement for a three-year deal had enough a possible strike about 1:00 a.m. west coast time. union leaders said a favorable deal has been drawn up in print about. studio officials claiming a deal was reached but didn't comment as of yet. this morning we've got earnings season really not. two dow components to report. merck releasing quarterly numbers before the ballot investors focusing on one of the
company's cancer drugs, big driver sales growth with the one-year chart of merck. also, we are hearing from pfizer, the drugmaker decided not to split itself up last year or so watching for word on a possible deal to fill out visors product pipeline. a more volatile chart as you can see for pfizer, the one here as well. apple of course centerstage. apple to deliver the best answer sales growth. a lot of that based on iphone sales. a big report coming out today as well. dagen: absolutely, cheryl. we usually look at ge. try apple. thank you so much, cheryl. president trump said to speak with vladimir putin. in the meantime, angela merkel paying a rare visit to russia. what it means for relations with the country. and it was all about wearing
weird clothing at night, -- matt galli. however he just can it be? you will see that turned out it's at the star-studded event. straightahead. ♪ why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away
generous now, former defense and economic minister under chancellor merkel, is gt gutenberg. what do you think the call accomplishes? >> might expect patients are not too high on that call. i would wish that he would have to be brief with the just before that call. we have heard that both of them are in closer contact now, which is actually good news after a lot of tensions facing before that. i think it is mainly a call to keep in contact and to stay in contact. she is presiding g20 this year and she has to prepare properly. she might beyond the road show how to visit a pompous president. she's been in and grow, washington. [laughter] a play she actually despises
because whenever she went there and told us when i was still enough that she told us that the place where he tries to be embracing, but he is a big showoff. specifically in sochi because that is his baby. he had the winter olympics there and all the other things. lea: angela merkel, obviously these election coming up later this year. she's not as popular as she has been previously. there are some in the german german government to support a closer tie with russia, especially pending what happens with the french election. is this also a political move for her in germany to try to show that we are not just pro-e.u., but also we have maybe a former relationship with russia. >> you do have a point on the other hand it's routine. you would meet the russian president as a g20 president, you would prepare such a meeting, which is probably more important to her to show a
skeptical audience in germany, that she still has the reins in her hand, that she can deal with everyone not only on a speaking basis, but having said that i don't expect too much out of that meeting today. aside from the g20 they will talk about syria, ukraine. the one thing she would like to avoid and also in washington over here, don't make a deal where he would actually jimbo wisteria and ukraine in one basket. lea: how important is the relationship in terms of natural gas to the e.u.? could this be a topic of conversation or something that is important to chancellor or she is there to talk to putin? >> it is about most important. other we've had a strained relationship with russia, it
still works because it's in the mutual interest to keep that alive. russia needs europe as much as we need russia when it comes to the interaction on the energy level. i don't think that will be any debate about that. it is just trying to be reliable on both sides. dagen: i want to switch gears to the french elections. tensions are high in the country with protesters clashing with police ahead of election day. most poll shows a slight lead on marine le pen. they are focusing on macron winning. >> they do. it is very, very untypical. we have one once in a second round, but it not time the outline against here to see you had a front that is crumbling out. the parliament guy who was like the version of bernie sanders in
france. not endorsing macron. so a lot of those who are behind -- [inaudible] is the better solution. now a better presidential candidate to gain 4.7%, who comes also more from the center, but a nationalistic candidate. she promised him to be the next prime minister. it is a tighter race than many expected. dagen: really quickly ahead of the election, the state department put out a warning yesterday, alerting the continued threat of terrorist attacks throughout europe. it is not specifically because of the head of the election, but it runs until september 1st. >> travel season first of all. my first reaction was the outcome of the clearly are the
best at the state department. they should do their homework. my second reaction is the risk of being shot by some lunatic in this country over here is higher than the terrorist threat in europe. >> i will say this. from the intelligence background intelligence community, there's usually some sort of a reason. we will not hear what the reason is, that these don't just come out. >> you do have a point here. of course the terrorism threat has been on the rise in europe without a question that the refugee crisis in connection with a lot of unresolved issues. i will still say it is a safe that. don't change your travel plans. there have been so many studies already, even if there is a terrorist attack, to be run over by a car is way higher. lea: have to measure the risk versus gain. dagen: to remind people to be
vigilant. good to see you. kt zu guttenberg. the threat of north korea. the hermit kingdom claim in the united states to fly to bombers near the area puts the two countries on the brink of nuclear war. the rising tensions ahead. angie's list to be acquired iac writing the website for a very price tag. details on the merger ahead. ♪ got a real good feeling something bad is about to happen. ♪ if you have afib not caused by a heart valve problem,
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futures hovering around flat line this morning. dow down 17 points. it's only picking up a little bit of steam there. the nasdaq, that's the 100, composite starts the day at an all-time high. gains across the board on three major markets in europe. in asia overnight the only loser, shanghai composite. more problems for theranos. details on the settlement ahead. angie's list making a deal. the consumer review site will be acquired by iac, more on that merger coming up. millennials in the market for luxury but for a fraction of a cost, how automakers are slashing prices to put that generation behind the wheel. speaking of luxury, the stars hitting the red carpet at met gala last night. we have the good, the bad, and
the overt your eyes. our top story, however, heated against north korea. regime slamming for flying two bombers in an area. north korea is saying reckless provocation pushes north korea to the brink of nuclear war. >> it's very, very bad and threatening to us and to many other -- many other allies, if you look at south korea, if you look at japan and others, it's a very horrible things that's going on and the statements are inflammatory, they're horrible, so we will have to see. i don't like drawing red lines but i act if i have to act.
dagen: joins us fox news analysts general jack keane, what options are on the table for the united states because president trump won't rule out military action but also said in an interview that he would be honor today meet with kim jong un? jack: we have three basic options on the table. the first one is diplomatic and we have given that option largely to china and they have the most leverage and the most impact. we are going to give them the lead to see what's they're going to accomplish. they are never done this before, 20-plus years, first president that has had that kind of breakthrough with china. they essentially have the diplomatic ball. we will see what we can do. we hope that they are not gaming us and this is more rhetoric than action. the second thing is economic. we are going to impose sanctions on north korea.
we've imposed sanctions on them before. they are pinpricks compare today what actually china can do but it's appropriate that we do them and the third is clearly the military option and but by that we are not going to attack north korea if they shoot off ten more missiles, we are not going to attack north korea if they have a nuclear test. we are only going to attack north korea if they attack south korea or in a position with a nuclear ballistic missile that's capable of leaving the peninsula towards our allies, towards our bases and the united states, that's what's on the table. dagen: to the point of sanctions, the house is considering new stringent sanctions. general, listen to this. >> what i would say is we have put sanctions on north korea, we will continue to look at this.
i'm not going to comment about what we will do in the future but the sanction programs are very important to national security. dagen: when you talk about the importance of china stepping up but also watching what they do in terms of helping us deal with this north korean threat, what should we be watching for? in the case of sanctions because china in the past has tried to water down sanctions, veto tougher measures and even kind of circumvent those sanctions, is that one thing that we should be looking at? >> we are going to keep an eye on what china does. close of 90% of north korea's economy is dependent on china. the sanction that is congress are going to impose, are certainly appropriate. let's face it, north korea is not on a global marketplace like iran was and truly isolate them.
north korea is already an isolated country. dagen: iran, for example, uses a valuable global manufacturers or producers a global commodity in the form of oil. with china and north korea, china's trade with north korea has increased tenfold over the last 15 years. also should we watch how china handle the missile defense system that the u.s. is putting in south korea what china has been opposed to. >> the way it defends, it kills the missile in terminal phase, so it's in south korea to protect south korea only. it would not be able to protect japan or any missile that's leaving north korea heading towards the united states and we needed to do that. we need to reassure our allies
that we are standing behind them. the situation in south korea is shaky politically, the president is being impeached, heading to jailhouse, possibility of a new president coming who is not as strong on defense as previous presidents have been and is willing to make accommodations with north korea. that's why we are flying bombers, we are trying to reassure south koreans and japanese, he has a new president here and he has your back, we are going to be there for you. dagen: this is what you're referring to, u.s. air force is ready to conduct another long-range missile test in the pacific tomorrow similar to the drill, the one last week, the drill comes days after the missile test. that's really what you're talking about. it's not -- it's us walking our talk, so to speak. jack: yes, that missile firing, test firing that's been planned for months. it's really not related to this crisis that we are dealing with,
but certainly it is showing off and reminding people, the united states people is the number one military power in the world. we have enormous tools in our tool kit and that demonstrates one of our great capacity that is we do have. dagen: what did you make, general, before we go of president trump any willingness to meet with kim jong un? is that -- is that psychological maneuvering, if you will? is that important to have that on the table? >> you know, i think dagen, the president natural instincts is willingness to negotiate and talk to any leader of any country regardless of that country's behavior. i think that's where he lives. frankly, he also qualified it and i think it's an important qualification, it had to be the right circumstances, he actually said it twice, i doubt he's ever going to meet with him. i doubt that we are going to find those circumstances. he's sitting with a cia profile
that he's seen on this individual that would likely tell him the meeting wouldn't be productive anyway as impulsive as he is, temper tantrums and unsteady he is. dagen: general, sod if to see you as always. general jack keane, take care. coming up the trouble continues for theranos, forced to write a huge check for hedge fund, the settlement details ahead. it's all about making a statement at the met gala, what the statements are? no one knows, the change styles at the star-studed event
dagen: welcome back, futures pointing to a slightly lower open. nasdaq futures heading higher. nasdaq starts today, nasdaq composite as a record high. let's take a look at few stocks on the move. emphasis, bets big on america, indian-outsourcing giant says it will hire 10,000 workers in the next two years. open four development centers in the united states and the first will open later in indiana. this comes amid rising pressures on companies by donald trump, by the president that use the h1b visa heavily. instead of importing workers to create american jobs, employ american jobs. crude is up more than 50% from
last year. bp rivals exxon mobile and chevron. deadly stampage at the university of texas. cheryl: this is something else. a student attacked his fellow students in austin campus. he was taken into custody without incident after the stabbing spree, three of the victims were white males but the motive, we should say at this point unclear. a lot of speculation but no clear motive year. theranos has reached a settlement with san francisco hedge fund partner fund management. so the blood-testing were accused of investing 96 million through, quote, a series of lies. the terms not disclosed. the significant settlement could have impact in theranos cash holdings, the company facing
multiple lawsuits over blood-testing service. angie's list combining into one publicly-traded company. iac going to own about 90% of this new company. antsy's list and home adviser connect consumers to plumbers and other service providers, the new is antsy's home services. the stock jumping 42% overnight. they are down more than 32% in the past year but on the other side, iec shares rose 5% after hours, a couple of stocks to watch today when the market is open. well, the stars came out last night for new york's black tie met gala, rhianna was the talk of the night. rhianna was the talk of the night, katie perry in the whole red thing. obviously this is part of the costume institute annual
blockbuster show. crazy outfits. i'm sure you have something to say. the katie perry thing freaked me out. i wasn't a big fan but what do you think? dagen: i have never been invited to a guiltiaened i will never go to one, i would rather talk to my mother at home at night then get up and rub elbows with people that don't want to talk to me, anyway. cheryl: there was some weird, weird designs but i think this is what this has become, this is so strange. lea: it's become halloween party. if you are a star, you want to make sure that you're getting photographed. >> i would have a hard time carrying that dress. i couldn't do it.
dagen: i dig the creativity that you see in clothing because some of the clothing is art and somebody who can get away with it. it's the people not rhianna who can't carry off these dresses. lea: you don't know who they are. you want that to be your 15 seconds, go for it. dagen: i -- >> $30,000 a ticket, dagen. dagen: all that money and all the people involved in gussying up the celebrities, can you spend money on something else. that was my gut reaction. people disconnected from the rest of country. that's what i will say. steering toward a decline, car
first quarter gdp that we got last friday. >> 1% or 2 down if not flat. we are coming several years of growth, two record years in a row so it's hard to stack up to that for a period of time. part of the reason we are seeing a slowdown now is because of success of those years, a lot of the cars are coming as used cars now and that's competing. used cars today are great and get cpo's on them, we are talking $17 million. certified -- dagen: i'm a nerd, i know that. >> a lot of brands are getting into that. a very appealing choice for someone who is talking out right now. 17 million cars sold every years. that's a big market when you have a big flood of cars, that's going to affect new car sales. dagen: how are truck and suv sales, huge driver in terms of
sales, are you still seeing the demand for those bigger vehicles? >> yeah, the car makers are moving towards that. we are seeing less small cars introduced. sales and small cars are dropping. sales on trucking and suv's are going up. >> we were talking about potential increase in gas tax to fund some of the infrastructure plan. what affect would that have? thirty-five cents potentially, would that have a big impact on causing consumers to shift back on smaller vehicles? dagen: of course, they did. >> they pump their gas for you. >> the numbers they are talking about probably aren't big enough right now. if you combine that with a increase in fuel prices which nobody is forecasting right now but if gas jumps up and you have the tax on top of it, you're talking about the -- they are much better than they were five years ago, 10 years ago. you'll need a big increase in
fuel economy, fuel prices, $4 a gallon before people start moving back to cars. dagen: i want to talk about luxury car sales because they seem to be doing better and it could be because of millennials, is that true? a new study shows that millennials prefer purchasing luxury vehicles and entering major milestones that require them to make purchases, do you think that's helping in part the sales? >> the car makers caught the wave. they were cautious about the economic downturn, they are coming into it. everybody thought they didn't like cars or couldn't afford them. dagen: right, they were raised on video games. >> they were afraid to spend money, things are improving, more confidence, they are moving back into there, the automakers at the same time are starting to add 30, 35,000 models.
they are brand-loyal. you get them at a price point and you will keep them there and it's extremely important for luxury brand. dagen: if you want to buy a luxury car, buy a luxury car that's certified preowned, you can get a much more engine and automobile. >> lures you to a new car eventually. dagen: i never buy -- lea: as soon as you buy it off the lot. >> once you move to luxury, you're not moving back. dagen: amen to that. amen to that. thank you, gary, good to see you. more ahead. apple takes on amazon the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial.
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intuitive one touch video conferencing is a reality. and now it's included at no additional cost with vonage business. call now and see why 3,000 companies a month are switching to vonage. business grade. people friendly. dagen: good morning, i'm dagen mcdowell in for maria bartiromo. it's tuesday may second. your top stories at 7:00 a.m. eastern. the budget deal in washington may need another look. democrats claiming victory since the bill excludes many priorities for the republicans. it doesn't scrap funding for obamacare subsidies, it includes funding for planned parenthood, republicans worked to secure votes on health care, meantime, president trump weighing in on that battle. >> we are going to have a great plan or i'm not signing it. and i said from day one, the best thing i can do is let obamacare die and come in with a plan. dagen: we have a closer look straight ahead.
rebuilding america's infrastructure, president trump working on a plan to repair decaying roads, bridges, airports. maria sat down with transportation secretary elaine chao on a first on fox business interview. that's coming up. plus, apple looking to take on amazon and google. the tech giant reportedly eyeing its own smart assistance. the details on that story ahead. earning season rolls on. dow component reporting just moments ago, the pharmaceutical giant posting better than expected results on top and bottom line. futures are heading a little bit lower, if you look at the dow and s&p futures, the nasdaq 100 futures heading up, again, the nasdaq composite closing at an all-time high yesterday. in europe stocks moving higher after the long holiday weekend, gains across the board there in england, france and germany and in asia overnight, the only loser was shanghai composite, down one-third of 1%.
you can eat with your hands but in case you don't want greasy fingers, the fast-food giant unveiling a utensil. kirsten haglund and lea gabrielle. >> dominick: she's right there, my hero. dagen: once again, mcdonalds putting out a video. coming up, this hour transportation secretary elaine chao, maria bartiromo's discussion with her. trump great america pack cochair, ed rollins is with us as well. one of my favorite people on planet earth, he's coming up. first, avoiding a shutdown, the
house expected to approve a massive spending bill that would fund the government till september. democrats rejoicing over the bill as it is said to lack some of president trump's key promises like funding the border wall and the bill actually protects sanctuary cities. i could go on but i want to know what new york republican congresswoman claudia thinks of this. did republicans make too many concessions, congresswoman? >> oh, that's a great question. i think in some ways many issues had to be taken out in the final bill. i would like to see us pass an actual budget, now the continuing resolution, here we are again trying to make incision. i don't like the sanctuary city aspects of that. i know the president conceded on the wall which i thought that was a big gesture for him. interestingly i live in new york but my constituents were anxious
to have security or whether it's a wall or bolstered security on the border, something that they would like to see happen but there is an increased money for security in the budget as well. there are god and bad things. i like the fact that we are going to upgrade and do something about improving the military and spending on the military. i'm typically a fiscal conservative and don't like spending but the primary reason our government was created for border security and national defense. those are priorities. we should be trimming and cutting in the next round of budgets. dagen: i mentioned a few of the things but there's no border wall funding, no deportation force, no environmental rollbacks in the spending bill. it protects sanctuary cities, trade with cuba, protects legal marijuana, funds obamacare subsidies, funds planned parenthood and funds medicaid for puerto rico. and the troubling thing is and
you touched on it, you go to do the next budget year, the democrats are saying amongst themselves, we've got this in their permanently, they will never take it away now. >> that's a good point and i'm hoping that we can roll those back. this is going to be a war. politicians are sensitive to the idea of shutting down the government and i think that that is club out there to keep people voting for it but for me personally a lot of the issues don't impact directly but the sanctuary city issue, many of those things that you listed i'm differently would like to see removed. the medicaid needs to be trimmed. i know new york is a huge medicaid expansion state so for us we have to put more fiscal discipline on the backs of the states, new york state needs to be fiscally conservative and there's a lot of waste and fraud in government and we need to work hard to make that happen. i'm not happy on what i'm seeing in the continuing resolution.
lea: one of the words that military leaders like to hear is continuing resolution, it's something that's a problem for them when it comes to planning. i've heard all of the military leaders right now say that continuing resolutions do not solve problem because ultimately the military has to plan years and years in advance for training, equipment, things like ship, what is congress going to do? you can't throw military, they also need to plan. >> i agree. it takes a long time to go through the procurement process. it's hard to build and maintain a 21st century force by waiting for continuing resolution, unpredictability, you know, my son is logistics officer in the marine corps and planning is a big part of what they do, not being able to plan not just next year but five, ten years is
critically important. i'm a might be of the financial services committee, not military -- i'm not on veterans or arms services but we really need to focus on that now and this is the time where the republicans have the majority to focus on the military which is a priority for all of us specially now with unusual enemies that we face that are -- i hope that our leaders will recognize that and i applaud our military for actually working with situations that are very unpredictability and i've been overseas in a couple of different places and seeing how difficult it is the military with some of our outdated equipment, we need new technology. we are using air force -- i mean, just some of the plane that is we are using need to be updated. they are very old, so it's a very important issue and i agree with that.
dagen: in terms of complexity, let's talk about health care overhaul. the house is expected to vote on the republican's healthcare plan this week. the question is do the republicans have t to get it passed? white house secretary sean spicer was pressed on that issue during yesterday's briefing, listen to this. >> once we get 2016 we will stop downing, i think the speaker gets that. i assume today we are closer than a week ago. we are not there yet. that decision is wholly to the speaker to let us know when they are going to open the vote up. dagen: will you vote yes on the health care in. >> i am leaning yes. we have the largest expansion state, many things being debated, the preexisting conditions, what insurance company can charge, all of those are built into new york state law so there's not a lot we can
do on the federal level other than some of the good things that are on the president's bill and house bill which is to roll back the taxes. we are going to be able to repeal the individual on employer mandate. that's going to help our small business community, forced to pay high deductibles, have health care but can't afford to go to the doctor. supporting what we have at least getting something started, we have to repeal and replace obamacare but we really need to get the process started. i know they are himming and howing, we need to have a win on that because states like new york that really need the assistance. dagen: amen to that, congresswoman. on that issue -- i'm being the daughter of small business owners who i said this
repeatedly who always got overlooked and, well, i -- overlooked by politicians in terms of how they are treated. i want to ask you about tax reform plan. maria bartiromo, she interviewed steve mnuchin on deductions specially when it comes to state, take a listen to this and i will get your take. >> okay. maria: congressman from new york, florida, they are not liking the fact that you're talking about eliminating state income as well as property income taxes. >> the special deductions and all of these things are really for rich people and we are going to cut a lot of that back and as it relates to the states, we don't think that the federal government should be in the business of subsidizing the states. the states should be able to died what they want to charge in income taxes. dagen: based on what you've heard out of the trump administration, if they got rid
of the state tax deduction, that hurts your constituents because we are in such a high-tax state in new york, but if they change the way that small businesses are taxed and you get a 15% rate, would that make you vote for it? >> it is better and i also am a small business owner, i fit in the gap. we have the highest taxes on so many levels in new york, high energy costs, on the tax issue, i -- we do have high taxes and the -- he calls them rich people. we finally actually moved that classification where it should be as millionaires but they have doubled the standard deduction there, lowering the tax rate. we are keeping the charitable deduction, there's also the mortgage interest deduction, still maintaining, still being kept, that could be a help specially with pass-through
businesses which many are today. it's possible that this could actually be a win for small business owners, but the tax rate has to come down significantly and we have to change the way that we are -- are burdening small business owners because they kept the majority of the new jobs. so when you're talking about business owners and i know mnuchin used the word rich, many are burdening taxes an regulations. i know in an earlier interview he described regulations as a huge problem. that's a huge problem along with access to capital, all the terrible things in dodd-frank that we will be marking up today, the choice act which i'm hoping we will get through and get passed in committee today, i look forward to that happening as well. regulations have to go, lower taxes, all those things are going to help small business community. dagen: 15% rate on pass-through entities which would be the same rate that they want for big corporations, that looks awfully attractive. >> definitely. absolutely.
specially in new york where every other tax is higher than most of the rest of the cntry. dagen: that's what they want and at least they have the plan out to do that. congresswoman, great to see you. >> thanks. thank you, dagen. dagen: be well, come back soon. coming up president trump takes aim at banging regulators, the congresswoman was talking to a certain extent, rolling back dodd-frank, by why the administration is looking to replace the comptroller of the currency? what sets new digital assistant apart from the competition next?
president trump reportedly saying that he's thinking about breaking up big u.s. banks, the president is looking to bring back the glass-steagal. one analyst speculating apple is going to unveil product perhaps next month at developer conference. the device can launch in the second half of this year and priced higher than the amazon's echo $179 and speaking of apple, the company reporting second-quarter results after the bell and despite what its traditional a weak quarter, things could be different. apple expected to deliver best eastern negotiation sales growth in more than a year. then there is this. it's never a boreing morning in washington specially if you're this president. >> the american people don't know what's best for them.
i do. i know exactly what they need. cheryl: well, netflix releasing the season 5 trailer for house of cards, kevin returning as sinister president who fights to control for the nation. season 5 set to arrive on may 30th. all right, coming up, samsung speeds into the self-driving car race and the autonomous vehicles will hit the streets. we will talk about it. renewed concerns of the surplus, whether opec will extend its cuts, we will be right back. hey you've gotta see this. c'mon.
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dagen: we are following growing concerns of oversupply in the oil market. opec eyeing extending cuts. prices have come under pressure as production keeps rising. joining us chief oil analyst tom closa, is oil oversupply really a problem, tom? >> it's a tremendous oversupply right now. it took years to build it up and it's measured in hundreds of millions of barrels, so we are probably losing a little bit of the oversupply but it's at a glacial-like pace. we will be well supplied for the foreseeable future which is this decade, let's say. dominick: tom, we heard early in the year, am -- not the mention
the ones that are drilled an shattered, what are you looking for the next year? >> you're absolutely right. anybody predicting 70, $80 is delusional. we have a 7 and 7 cocktail. it's 7 years after a 100-dollar-barrel oil, 2011, the new big mega project coming up. 2018 and 2019, seven months is about how long it takes to ramp up shell. so as long as you've got the 7 and 7 cocktail, you will have prices very modest, maybe in the 50's at best, 40's at worse and possibly a debacle if opec meets and you have iranians and iraqis arguing for more and more oil. it's cheap and it's cheap as far
as we can look. >> tom, kirsten haglund here. what is your view of how potentially, you know, this damper that continues on oil prices, how do you think that affects our relationships with the opec countries in the middle east specifically? >> well, i think we have been at a steady state with the relationship with most of those countries, there was a test and secretary of state tillerson thought that the iranians were complying with the nuclear agreement and there was no additional sort of threat, perhaps sanctions returned. the fact is in the united states, in west texas and new mexico, we are going to surpass iraqi or iranian production probably by 2022, we have a lot of cards that we are holding and it looks like cheap oil will be
sustained through the rest of this decade, predicting anything beyond three years is probably a little bit of witchcraft. dagen: what about oil demand, gasoline demand as we head in peak driving season? >> well, oil demand internationally has been okay. you know, maybe not as high as what's some of the folks had invested were looking for. gasoline demands has not. we just finished the first third of the year and we saw demand destruction, we saw that because we were paying probably 35 to 60 cents more than last year and people that have internal thermostat. today about 15 cents above last year, so we are going to be cheap. you will see some more 2-dollar or less prices during the rest of the year although you're going to see them in the last third of the year and i suspect that outfits like ourself at opis, we will lower expectations this year.
it's a cheap year anywhere you look at it. dagen: sweet, i love it. i love the fact that you have palm trees behind you. good to see you tom kloza with opis. ab&b putting new lawsuit to bed. drive, transportation secretary elaine chao sits down with maria bartiromo to talk about president trump's ambitious trillion dollar plan to rebuild this country.
. . . . dagen: welcome back. i'm dagen mcdowell in for maria bartiromo. tuesday, may 2, your top stories 7:30 a.m. eastern time, the crumbpling state of our nation's infrastructure, secretary of transportation elaine chao telling maria president trump is committed to repairing and rebuilding, our roads and bridges. >> there -- transportation infrastructure the entire infrastructure of america determined our competitiveness internationally. and the president has made a very bold decision we need to invest in our infrastructure. >> more from maria first on
fox interview with elaine chao ahead earnings foof on wall street cvs health topping estimates on earnings per share an revenue, futures heading a little bit lower we see losses on dow and s&p but technology stocks keep moving higher, stocks higher in europe as well after a long holiday weekend, gains across the board there. in asia overnight, the shanghai composite the only loser moneying four major markets in asia airbnb opening doors more in san francisco, start-up agreeing to be more transparent about its hopes in the city with that agreement means for any potential ipo ahead, tech titan joins self driving race details samsung reportedly hits gas on autonomous vehicles mcmcdonald's to change the way you eat fries will they
embrace the device or stick a fork in it lebron celebrating cavs win with cold one almost funny moment from game one of the eastern conference semifinalize, turning to entrepreneur president trump planning to roll out an ambitious one trillion dollar infrastructure package to help rebuild nations crumbling bridges highways public trappings maria caught up with transportation secretary elaine chao at milken conference for an up dedicate what we can expect. >> thanks for joining us. >> thanks so much for having me. >> great to talk with you i know you have been busy, putting wonderful plans together, let me start off with infrastructure package, the president has spoken about, so much, what do you envision in terms of what an infrastructure plan will look like? >> well the president has said that it is his top priority to repair rebuild and rehabilitate the infrastructure of our country. you know, the transportation
infrastructure the entire infrastructure of america, determines our competitiveness internationally. and everybody knows who has ever been caught in a traffic jam, or stuck, you know at airport someplace that our infrastructure is decaying, and it is aging. and the president has made a very bold decision that we need to invest in our infrastructure, and he wants to challenge our country to come up with a trillion dollars over 10 years, to repair understand and rebuild our infrastructure. the other day, mick mulvaney omb director came out and said that 200 billion dollars of the one trillion dollars will be in direct federal funding. the remainder will come from public/private partnerships from perhaps these sale of government assets, and also, probably some benefits from
the tax package that is going on next, so i expect that we will have some kind of infrastructure initiative proposal by the third quarter. some details to be filled out before then, and that we will present a new plan to restore america' competitiveness. >> have you seen any plans in terms of what people are willing or institutions are willing to put forth in terms of those of money to get to trillion dollars. >> some people have suggested all federal funding for a trillion dollars and that is just not possible. because we incur tremendous deficit havoc with private markets this has to be a characterize notice of way to ensure we get rurs we need to rebuild our infrastructure one of the ways to do that is through the public/private partnership to use a federal funding of 200 billion dollars, and leverage that, so there is a multiplier effect
for the more monies can come in, and we will have the resources that we need, to build and repair the infrastructure. >> do you also see this in terms of bonds perhaps investment opportunities for people? to invest in it? through so that is how you will do it. >> right, right now when you talk bonds that is involving the private sector the public so many states regions, the private sector is not allowed to invest in public infrastructure. i am told by so many people, in the finance sector private equity sector there is plenty of private monies available to fund public infrastructure projects. the problem is there is not enough public infrastructure projects ready to be financed. because the permitting process takes too long, it takes 16 years to build a bridge, it takes about 16 years to build a road, that is a very long
time for a private sector investor to be involved in a project less thanthens risk profile thus differethere are s disallow toll roads public/private papers so those impediments need to be removed. >> the president has talked a lot about rolling back regulations, is this one of the priorities, in doing so? so that the permitting process is easier less bureaucratic. >> we all care about environment there are duplicative non sensical, unnecessary regulations that koikt conflict that are punitive unnecessarily hamper the growth of the economy hold back projects from being financeds no are the regulations we are taking a look at.
>> makes point of view sense if an investor wants to commit xa will they need to see a date, or at least shorter term midterm, that they are actual going to be able to make money on if they don't know this is happening for 16 years, 20 years it makes it dill difficult to be enthusiastic about it. >> we want to look at innovative entrepreneurial ways in which to engage private sector so they can help finance public infrastructure as i mentioned there will be direct federal funding there may be some consideration of sales of government assets, also this infrastructure package will probably be beneficiary of tax reform efforts as well. >> in terms of government assets, in other words, private investor can apply tollbooths or -- that is what you are talking about or actually assets that you are talking about, that are -- poised to be sold? >> well there are you know we have a capital markets enables
america to invest in all sorts of different ways projects heretofore the private sector has not been allowed to invest in the public infrastructure. arena so we're looking at ways in which the public the private sector, is not discriminated against in terms of coming in with their ideas and their willingness to invest their dollars in public infrastructure. >> makes a lot of sense let me ask you about the priorities and where you see the most need because obviously, cement and roads and steel things like that, that are most obviously when you think infrastructure they are things that are not as obviously broad band technology related things, what are the priorities, talk to us about what you would be looking for, in terms of buildup? >> well, the whole government with its various different parts working together, very well, and very he seriously in
refining this infrastructure initiative so the infrastructure initiative includes not only the transportation portion bridges roads ports, but also energy, water, possibly broadband, possibly va hospitals, so it really takes a look at the entire infrastructure which adds to our country competitiveness, contributes to our residents' quality of life and also future oriented. >> where would you see the big change happening in terms of modernization in the country innovation tell us something perhaps we were not considering. >> well there are so many different ways in which technology is making its felt fraction for example we have self driving cars level two sales driving cars can drive on highway follow white lines on highway no need for any person to be controlling any
of the instruments. now, we are also seeing self driving trains that are possible, self driving planes, but the consumer acceptance to accelerating rate of technologically change is still there, so i really challenge a lot of people who are in the technology field to bring along the rest of the country because we can't as rrts do a good job if a conflict between galloping rate of technology and consumer acceptance as to what is possible the exciting thing the exciting part is technology is not -- becoming a very important force in transportation we will see self driving cars, and that is going to be a tremendous help to the elderly who may not be as mobile to the disabled, so that they will have more
independence, more freedom, but we also need to understand that there are some concerns about privacy, and, you know, other things that we need to kind of reconcile as. >> term of safety do you think public has sense of self driving cars. >> i think the public is concerned about the safety. not -- >> different levels of technology, and they are being worked out so at a level two is probably safer than level five or four self driving car but there is a lot are experimentation going on we have to be concerned about preserving safety for traveling public so long as gap between what the public feels safe with what the technology says, that we, of course, have to listen very carefully to everyone but especially the traveling public about. >> i had this conversation with my sister all the time we talk about self driving cars versus, driving your car, the
truth is the self driving car, you don't have to worry the person is driving looking at text, you don't worry the person didn't get enough sleep, is on the phone, distracting by something else there is a real component of safety assumption in something like that. >> 94% of accidents on the highways occur because of human error, so self driving cars can go a long way toward decreasing those numbers and bringing more safety on our roads. >> sounds like we are going to see more self driving cars in america. >> well that is certainly the trend but, again with the passenger sense of this new technology is very important. >> have you been meeting with private investors and private executives who are working on this elon musk or google committed normal capital. >> also ford gm all the automotive companies all looking at this as well --
>> when you look at across the country, where do you see the big need? is its largely airports first, is there a priority list? is how money will be allocated for the infrastructure program. >> transportation infrastructure is very did he krntlived we work in partnership we together decide priorities most time the states have very strong feelings about what their priorities are, and our roll is to be a partner to support that a. >> there is still a question of how it gets paid for. i realize it is 200 billion from government money. >> hard part. >> the hard part everybody wants ab fantastic airport great self driving cars, roads, bridges, but don't want to pay for it. >> there are about 16 to 17 different ways, of paying for our infrastructure, innovative ways most meet some resistance the congress has already said that they would not like a
bill without pay for -- funding administration, are hard at work being at different ways to pay for infrastructure 2 hundred million dollars in direct federal funding tax reform package some come from likely sale of government assets the remembered public/private partnerships in all cases we have to leverage the federal dollars use it like seed capital to encourage and entice more private sector action to finance fund the infrastructure. dagen: much more maria's sit down with transportation secretary elaine chao in the 8:00 hour, we will be right back. kevin kevin kevin kevin kevin kevin kevin
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of he explosions police say by a fire in electricity utility vault the first explosion heard after 5 pm heavy black smoke billowing from a set of -- the dip during evening rush hour shut down subway station forced street cars to detour rainwater caused that fire. >> well, airbnb has settled a lawsuit agreeing to registry rental properties in san francisco ending litigation that could have affected airbnb efforts to go and go public airbnb working to roll back restrictions in new york state governing short term rentals. >> samsung testing self driving cars in south korea reportedly developing parts supported by artificial intelligence not billed cars itself many in thats say company expected to be key player in self driving car industry, after apple started testing self driving cars in california, showing you
pictures we think it is real, mcdonald's with an ad that pokes fun at its tv infomercials. >> ludicrous, the easy to use it is urban disdain makes it handy varieties -- the fitch or -- fork works. >> chef mike, you can figure out, and called the fork a fork french ties for tongs they make the purpose scoop up toppings that fall out of new signature craft recipe burgers toing to give away new forks to customers this friday, not a permanent thing but getting attention for it which i think was the point. >> talking about showing it -- >> hilarious, thank you, cheryl. what do you think of this
again even watching this video that mcdonald's put together is -- doesn't even work, so you obviously -- >> i know i kept thinking as trying to pick -- did not quite -- >> a gimmick a way to try to -- >> french fry i can't see it any other way you can sit like -- >> or, catchup packet, right because this you get less ketchup on each french fry. >> index finger. >> -- the fries eat fast because when they cool off they are inedible. >> not eating that cold fry bottom of the bag. >> you know i love it. >> be careful how you say
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dagen: result in nba playoffs last night jared max has highlights hey. >> hey dagen not so much that san antonio spurs lost game one spurs stleded by rockets texas blow out from get-go first quarter ryan anderson off the assist, from james, a 10-point lead first quarter, shortly after rockets went up
trevor, rockets set a playoff record sink 2:152 long range shots houston led by 30 at halftime large deficit for popovich spurs loss by 27, game one eastern semis between cavs and raptors not only dildz lebronscore 35 points had fun third quarter look like taking a swig of beer from stadium worker, he was kind of -- having fun cavs won by 11. >> initiative b.a. game not only texas duo after kroz rangers into it 6th after texas starter hit two batters with pitchered napoli at plate -- next thing you know, baseball players think hockey players bench empty some shoving no rejections astros won -2 raiders -- 6-.
>> raiders are coming billboard planted at future sight of the now oakland raiders soon to go vegas team closed escrow yesterday 77 1/2-million-dollar purchase, on 62 aker lot. >> 65,000 seats to open in 2020 really happening. >> you know what part have you looked at map don't mean to put you on spot any don't know what port of the strip is that? we can tell. >> it is not like on it. >> but near the -- you can see down near luxor that graphic. >> near airport. >> near airport. >> no matter where you are in vegas a cab ride -- cabs are so expensive in vegas that is how they make their deals, so -- expensive. >> thank you, i want to ask you about the twitter says that sports is one the most
popular content patterns twitter adding more to the content lineup like a live pregame show many shows even direct q&a with fans, this is announced twitter digital content presentation in new york, do people watch -- >> here is what i say, wnba is signing on, 20 games going to start streaming during season starts in a couple weeks, remember when, all broadcasting houfrs across country 15 years ago all of a sudden said get advertising for this dot com kind of thing, we will little by little advertising dollars go doing a lot more in dot com than apps is this for real this is real wnba a big sign this is very much the way of the future in sports broadcasting. >> sports a community activity people go to games like to talk to each other cheer, people don't know, doesn't he the social media aspect in twitter sort of bring that so
people can be sitting at home then seeing communicating with other people who love ports. once we get on the same page, the game together, you know we can be tweeting at each other fans at home weighing in, it becomes a community, right now a big shouting match too often. >> i use twitter to see -- the -- patriots great joy to me i feel it right. >> fans hate me. espitchn the quality of content, but quality. >> etch spit-- espn a lot of problems. >> we will be right back. if you have afib not caused by a heart valve problem,
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. maria: i am dagen mcdowell in for maria bartiromo. it is tuesday, may 2, your top stories at 8:00 a.m. eastern time one by these day ahead, for president trump. includes a phone call with russian president vladimir putin but what it means for tense relationship with that country. meantime the budget deal in washington, might need another look democrats claiming victory since bill exconcludes priorities for republicans border wall defunding planned parenthood. >> dow component, under pressure after the close
tonight we will hear from apple. futures hovering near flatline, we -- slight losses on dow s&p dow down yesterday the nasdaq tech stocks keep a rocking 100 futures off, nasdaq composite all-time high. in europe stocks higher as well after a long holiday weekend, gains in england france german there in asia overnight markets mostly higher shanghai composite lower by about a third of 1%. may protests violent demonstrators targeting police dozens arrested the latest ahead airlines on hot seat ceos united american head to capitol hill after videos posted to social media show, aggressive behavior sparking outrage against that industry. april giraffe's baby has a
name. you watched it that child's birth calf's birth online i know you did i did what is her name all that so much more coming up political analyst is here defectived financials dominique, fox news correspondent lea gabrielle a pleasure so far. >> don't foul it pup. >> just kidding apple give me one thing to watch tonight -- the back on pace may be blow out of park may be don't but back to good quality products to get iwatch little vent yourself. >> tell us hour going to spend quarter of trillion dollars in cash may be. >>fying out, cutt -- >> turned into a value company that means dividend, increasing that returning capital back to investors, sharp innovative company good
quality company good earnings stock is done phenomenally well is it going to double show me o product that is going to drive that i don't see it. >> transportation secretary elaine chao her sit-down with maria bartiromo, former reagan campaign manager ed rollins host of "varney & company" stuart varney, you never know what is on mr. varney's mind but you will find out later this hour. president trump set to speak with vladimir putin this afternoon the first phone conversation since russia denounced u.s. military strike, against syria last month. blake burman live at the white house, with the very latest good morning from a sunny d.c. reporter: it is beautiful 75 here i think no complaints. hi dagen national security official this morning on beautiful d.c. morning telling me that it was indeed vladimir putin who has initiated this phone call that is what i am told the phone call will take place, 12:30 this afternoon
between president trump, and vladimir putin, as you know these two have had minimal communications since the president took office a little more than 100 days ago. democrats on both sides from both countries, have said that the relationship between u.s. and russia are now at all-time low or at least near that, after the chemical weapons attack in sir bashar al-assad government you know how u.s. responded with 59 tomahawk missiles fast forward conversation between president trump and vladimir putin. >> another foreign policy concern front and center for the president this day that remains north korea and its leader kim jong-un. the president trump said in interview yesterday with aric biology it is north korean leader might be his biggest international concern, to look at the president when he was asked, just how safe our troops might be, along the dmz. >> nobody is safe i mean who
is safe. >> the guys got nuclear weapons i would like to say very safe these are great brave soldiers greet troops they know the situation 28,000 troops on line right there. and so nobody is safe are probably not safe here if he gets the long-range missiles we're not safe either. >> the president also received criticism yesterday for an answer that he gave during an interview in which he said that he could possibly meet with the north korean president pushback with that here at the white house, they are saying that the president would only do that quote under the right circumstances. what the president said in that interview. >> dagen. dagen: thank you so much blake burman at the white house for us, something general keane appointing out under right circumstances he said more than once to weigh in trump greet america co-chair former regular campaign manager ed rollins what do you make of this
starting with phone call between president trump and putin. >> putin initiated. >> i as i important to talk to aed a sarries putin a long leader not good guy hasn't played well on the world stage, kind of a -- before putin -- before trump got in now putting in proper perspective i think activity in syria, very, very critical, this president has a lot of hot spots, and i think as you become president you learn more and more i think most important thing of 100 days, is that i have watched great growth watched him learn a lot about submarines the world affairs i think a very strong team around thim i think this is an important conversation i am sure the president will get off the conversation have a great conversation with putin, big, big call big you know going to work together the two always keep arm's length watch. >> you said important to talk to adverss aries.
>> what do you make president trump said under right circumstances would be honored to talk to kim jonning. >> i think a misuse of word this is a really bad guy crazy i think key thing here is, he has to stand down, we cannot allow him to have weapons he is trying to accumulate obviously the -- that war a long, tedious war 67 years ago, because of south korea what can happen quickly there, we have to be very careful, no question that we have military and weapons to take them out, but at the end of the day, you lost four million people in korean battle before you can't -- >> would you encourage the president to talk to him. >> i think -- i think -- i would not give him the forum that is guy wants the forum part of whole nuclear energy here, that they are doing they want people to pay attention to them, i think what you at you to do basically have others talk to him, and i think we need to continue to
show military strength off the coast there, and let him know if he wants to playes playing with a big boy. >> north korea wants a did he tierent urns don't the nuclear deterrent can fall ultimately kim jong-un wants that deterrent he has seen from other kinds where does president trump go with this we have tried sanctions voting on further sanctions, about it what is the next step? i don't think anybody wants us to really take military action in north korea because of what the consequences would be there. >> i think a very availed point but i think at the end of the day presidents have looked at this situation, you know since, truman in 1948 no easy answer again because south korea right there, obviously on border with each other, i think the reality is it is you are not going to negotiate with this guy peacefully president clinton tried to make peace, spent a lot of money there, trying to
buy -- nuclears off many years ago. >> i want to kwet to this move to spending bill, the president trump is expected to sign that 1.2 trillion dollars spending bill, later this week to keep the government funded through september, despite democrats winning major concessions in this agreement, these include, funding for obamacare s subsidies, funding for planned parenthood, that continues, funds for medicaid in puerto rico, but no border wall funding no approximate for the ask sanctuary cities, president -- so a lot of promises made but not kept in this spending bill the democrats are croweing about it confident they can block trump agenda based on what you see in spending bill they know the democrats know that this will be in other spending bills down the road, what do you bhaik of this. >> as i said on this show before we don't have enough republicans we continue have enough money in washington, if you had all republicans voting all the time we never do, you would move stuff through but so long as minority has
control of the process and senate going to get something like this about every time, i have advocated i am not a senator no right to change rules until you get rid of 60 vote cloture vote to where majority rules you are going to lose things that is what is going to happen in this go-around. >> have you frustrated do you think the trump administration white house is with republicans in congress, they have a pretty clear action plan and seems to be -- stonewalled. >> there is a diametrically, option, to spending big spending promises in infrastructure, big money items republicans say fine you can do that if you cut elsewhere, obviously you are not going to get to cut elsewhere through a tax plan you basically regenerate expand the budget process, to more revenue, or basically you have to make tough cuts i don't think that is good --
>> are republicans going to lose this battle in because you know along the lines of trump administration, was we will get democrats onboard don't make too partisan may be we get there so buy-in own levy agenda are they going to lose that battle. >> may have been able to do that flinch i think at this point in time democrats -- an opposition disparate you schumer -- >> they are not going to make deal on things president wants not fund the wall those kinds of things overtime republicans will kind of come a little bit more but you are seeing on health care they still don't have votes on health care bill, something every single one guys advocated getting rid have to certain tent, they have to get something done here i think the tax plan best opportunity a tremendous bill, i wish they would have done that first, in the president have a has a win on that one. maria: dagen: amen
hallelujah to that. >> will health care vote come to vote this week will it o fail. >> it would fail if it came up today i think the problem, gary cohn said votes there gary never dealt with congress i spent 25 years with congress, and you don't take a maybe vote is not a "yes" vote take yes votes, about 25 votes short at least, this point in time. people forget that obama had 60 votes when he passed senate passed obamacare about 30 more house members than we have today he actually had over 30 -- he members defecting on obamacare we just don't have enough we have a majority but there is philosophical differences until we decide what is lowest common o denominator we can pass not getting there. >> using divide and conwhy approach separating republicans. >> great to see you -- >> always always. >> come back. >> i will come any time. >> great. >> old man? >> i didn't say that. >> i feel that.
>> i did not qualify i side you look great. >> young sharp people. >> take care thank you so much ed rollins coming up may day protesters into a fiery riot in portland police forcing forced to arrest dozens the latest on chaos, and a holiday ending tv movie writers' strike a deal to avoid a do you make in nick of time what a disconnections -- he consessions they won in that new contract. >> ♪ ♪ .
dagen: two dow components with earnings this morning, cheryl casone has numbers you need. cheryl: that is right dagen, merck with better than expected quality results did raise four year outlook the premarket the company gained a boost, from sales of that cancer drug we talked about earlier, sales of two diabetes drugs with sales parts of america pharmaceutical business came under pressure a stock to watch pfizer i should say stock to look at mixed results, drugmaker earnings per share beating street revenue short of expectations there is merck, two disease people arrested in downtown rally mayday rally became a
riot protesters destroying a police car, damaged winds and property started fires in streets attacked police may day first day of may known as international workers day long been, an occasion for political action by labor unionize. >> a travel working on for citizens traveling to europe alert, cites attacks on france u.s. stating terrorist sympathizers, conduct attacks with little or no warning travel ban in effect until at least september 1, for summer attractively season airline ask you tos including oscar munoz to testify before house transportation committee this morning after viral video of 69-year-old dr. david dow
dragged off airline going viral, executives we're going to hear from vice presidents from american alaska southwest airlines hearing coming after american flight attendant at american strook a stroller from a woman traveling with children and argued with another passenger the flight attendant did, excuse me fox business going to carry that hearing starting at 9:30 a.m. eastern time, today we are going to carry that, live. of the finally after several weeks of negotiations hollywood writers and tv movie studios reached agreement this morning for three-year deal that would otherwise a possible strike. union ladders say favorable contract drawn up 1 a.m. west coast time, barely waking up on west coast, more details ensues, favorite shows written well or badly. dagen: with airline executives being on capitol hill today here is the problem, they are not they
can't talk about unruly passengers, quite frankly one of the headaches traveling how balancedly passengers behave they are on hot seat lambasted can't say what makes the experience awful people drunk act up, not to point the finger at anybody in particular but, again, it puts them in this impossible -- >> lawmakers taking sided today several want rules changed overbookdz rules changed attack on airlines. >> ticket priefzing going to go up because of that root of the of the problem unruly passengers not addressed that is my predictions. cheryl: you are right. maria: thank you rebuilding house of industry trump administration plan for reforge mortgage lending free kooupz costing user privacy scam going around social media, this morning. ♪ ♪
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until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. dagen: fannie mae and freddie mac, should prepare for change. maria bartiromo sat down with treasury secretary steven mnuchin for a first on fox interview, where he spoke about housing reform watch this. >> what i've said is i am committed to housing reform. and that we are committed not to leave them as is. for the next four years, so we want to make sure, that there is ample credit for housing it is a very, very important part of the economy. but we also want to make sure that we don't put the taxpayers at risk. >> there is a conversation going on on twitter it has been for a long time, about
how president obama needed money for obamacare would take from all agencies and he took from fannie and fred is that true. >> it is true they used the profits of fannie and freddie to pay for other parts of the government. while they kept taxpayers at risk. dagen: transformation mortgage solutions president founder david your thoughts will it happen. >> it has got to happen must happen get rid of fannie mae as far as taxpayers owning them spot-on the fact federal government has taken as many profits as much profits out of fannie mae used it not disclosed it on freedom information act they are protected exempted from that, as a result of it no one knows exactly how much money has gone into government programs, and not only that these are two fine institutions that are stable, to however, market, and housing finance system so if you are going to take them out, and to get rid of them altogether would be a mistake getting out from federal government absolutely we need to get rid of them.
dagen: who it bean disruption to mortgage market. >> that is a fear government in essence subsidizing the mortgage markets making it from a compliance specificity difficult but from an interest rate factor more affordable for entry level person coming into housing market this will of to be unravelled a cash cow to the government that the revenue generated by fannie and freddie are cash cow needs to be unravel sold off, government has a to get out of the -- >> make it prooif where it was a. >> you run political risk if any disruption, if -- if the conversion to private entities cases mortgage rates to go up hurts availability of a mortgage that is political -- >> so long as fannie mae and freddie mac exist in the private sector where he were for years they -- >> not it was it was -- >> almost worse than no i at least we know who controls it. >> what is talked about spot-on getting rid of it as
taxpayer owners we need to privatize not a bump in from its if we get reiterate of fannie mae freddie mac half point in interest rates conservatively speaking that is not plan they are talking about responsible plan back into private sector free enterprise let free enterprise system work in you housing, housing finance. dagen: my point with fannie mae, freddie mac case mortgages were essentially guaranteed debtor essentially guaranteed by government wasn't free enterprise in the first place. >> it was more free enterprise when i starting 43 years ago in industry what we saw during the housing crisis we saw so much, of the government programs government it starting with cla in carter administration, community reinvestment act that really started pushing the government, towards encouraging housing and housing home ownership. dagen: people talk about we need private markets -- yet they talk about health care that way, we need a private
market system, well we don't have one we will never have one because of medicare the same -- >> let me just say this, what other developed country has a housing finance system like america you can say that is good or you can say that is bad, so let's put in correlation of he home ownership rates in the nation, you compare us, and our home ownership rate with fannie freddie all the others in there and compare it to other nations, we are not that high. a lot of other countries have a lot higher home ownership rate, and even look where we are at near historic lows u.s. home ownership. >> thank you so much for being here. >> more discussion later. >> -- you will get a final thought i didn't mean to cut you off david thank you so much urgent warning for families with lazy brand hover boards. >> urging government to avoid -- after another deadly fire
transportation secretary elaine chao sits with maria to talk about how president trump's trillion-dollar infrastructure bill will put thousands of americans to work. # now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things we love. prudential. bring your challenges. ...
whatever it takes, wherever i have to go...i'm beating this. breast cancer treatment is continuing to evolve. ctca is definitely on the cusp of those changes. we really focus on taking the time with each individual patient so they can choose the treatment appropriate for them. i empower women with choices. it's not just picking a surgeon. it's picking the care team, and feeling secure where you are. visit cancercenter.com/breast appointments available now. >> welcome back, i'm in for maria bartiromo. your top stories. the crumbling state of our nation's infrastructure. and secretary of transportation elai
elaine. >> the president said that he wants to build american and hire american. and we're there with the creating of the new jobs. >> more from maria's first on fox interview with elaine chao ahead. and earnings per share and revenues topping estimates, futures are lower on the dow and the s&p 500, unchanged on the s&p at the moment, higher on the nasdaq 100 with tech stocks and they keep that rally going. the nasdaq composite closing yesterday at its all-time high. in europe, stocks are higher across the board after a long weekend with gains in england, france and germany. all of your major asian markets were higher except for the shanghai composite which lost about 1/3 of 1%.
new warnings over hover boards, the consumer products safety commission warning consumers to stop using the lazy board hover board after a fatal house fire. the details ahead. a concert scam hits facebook. a seemingly harmless game circling the social network could pose a massive security risk. what you need to know before you tell people what concerts you've been to. the good, the bad and avert your eyes from the met gala, something you nor i will ever attend and we're happy with that. and april the giraffe's baby finally has a name and how it's giving the zoo and fans hope. turning back to the trump administration, transportation secretary administration's elaine chao, waiting on multitude of positions to be
filled along with the robust jobs growth within her department after the infrastructure bill is implemented. >> there are unfilled jobs within this administration. what can you do to get those jobs filled, to put the people in place you need to actually execute? >> well, fortunately, this is year nine of my tenure in this sense in that i've been a cabinet secretary before so i know what to do, i'm very confident and very sure-footed so we do have a task force at the department to deal with infrastructure. we also have an intraagency process within the white house and this has been doing very well, making progress. maria: you're approaching your own 100 days and tell us about your experience so far. i know that this is not your first rodeo, having worked in four administrations, for four presidents, so, let's talk about your experience and how this differs? >> well, inthe most important
thing for a public servant is to listen. so we've had many, many stakeholder hearings, meetings, to reach out and understand what people's desires and requests and wishes are for the infrastructure. so, our department is one of the most important departments in terms of carrying out the president's agenda. the infrastructure project, infrastructure initiative, as well as, for example, the modernization of air traffic control and deregulatory agenda to ensure that our regulations are not hampering the maintenance and the rebuilding of our infrastructure, but also the creation of new jobs. because the president has said very firmly that he wants to build american and hire american. so, we're concerned not only about the building part of the infrastructure initiative, but also creating of the new jobs and so, our department has a
lot on its plate and we have-- we're on target, as i mentioned. we've listened and we've held a great many outreach meetings with relevant stakeholders as have every other secretary around the government and white house as well. all with the aim toward understanding what the american people want for the infrastructure initiative. maria: and this infrastructure initiative can be a huge job creator. what can you expect in terms of jobs once this program is in place? >> well, the president has said that he wants to build american, hire american, and these will be good paying jobs. maria: do you have an expectation in terms of what that would mean? how much can you move the needle in terms of new job creation? are these temporary jobs in particularically when you're talking about a problem it's temporary jobs? >> it's not necessarily temporary jobs. maria: especially in it's 16 years.
>> no, hopefully it's not that long. with all the other things the administration has done, we hope that the economy will come back. we've seen one of the most dismal economies in the last eight years after such a sharp recession. usually the economy comes bouncing back and it has not. primarily because of the regulatory burdens that have been placed on this economy. so as this administration has come in, you can already see that there's a great deal of renewed confidence in the government, in the private sector and, you know, in our economy. so the stock market has come back, the job numbers are getting better, the wages per hour are getting better. so, what this all means is that the country is moving in a forward direction and the momentum and the vitality of the economy would create an environment in which there's going to be steady growth and steady creation of jobs. maria: i like the fact that the priority of this administration has been growth because, of course, we've seen the number
and the growth has just been underwhelming. how would you characterize the job picture right now? >> i think the unemployment rate is low at 4.5%, but what's more important is that the labor participation rate is now beginning to tick upward. >> do things feel different to you with this administration is this tell me about this. >> well, this administration is very much focused on growth and job creation, and it's doing so through a belief that the private sector is the engine of growth and that the government's role is to create the environment through rich economic growth and job creation can occur and that the government is not the one that creates the job nor the one to create economic growth alone. it's the private sector. maria: what are you expecting in terms of moving this through? we've seen what happened with health care and it took forever and we're still not there. tax reform, of course, is still a little hostage to health care. >> we're a democracy.
the legislative process is hard. you know, lawmakers aren't being obstreperous because they want to be obstreperous. they have legitimate concerns because they represent the people in their district or in their state and so, it is a lengthy process. it's a messy process, but i believe that outreach, communications and understanding the process will go a long way toward a successful outcome and we've been in constant contact with the congress, with the various committees of jurisdiction and we're working together, hopefully, on many of these tough issues. maria: secretary, i was reading about you before i sat with you and i was so impressed with your own story, having been an immigrant yourself coming here and now here you are at the highest levels of government and have been your entire career, serving your country. it must make you feel incredible. you came here, what, seven
years old from taiwan? >> yes, i came when i was eight years old. i didn't speak english. this just shows what a great country this is, that newcomers can come and have new starts. my family, my parents came here with very little, armed only with tremendous belief and love for this country, and they were confident that this country would be the land of great opportunity for their six daughters. maria: isn't that incredible? that is america. >> that is america. maria: and you've lived it so you're here to talk about it in terms of what you've gone through and your family has gone through to work hard to achieve the american dream. >> well, i think that our story is the american story and every day across america, even today, these stories are being repeated over and over again, this is a wonderful country and we have tremendous opportunities here. and that's why america is the land of opportunity and the beacon of hope for the rest of the world.
maria: we know we're all rooting for you and you should know as well, in terms of getting this infrastructure program in place and it certainly feels like there's a lot of enthusiasm around it. do you think this is one of those programs that you will have common ground with the other side? >> absolutely. i think we're at a pivotal time. the president has made a very bold commitment to rebuild our infrastructure so it's essential to our economy and so essential to our economic competitiveness and this is one area, i believe, where there can be bipartisan effort and agreement. maria: especially since that's what the voters want and they've spoken and they'd like to see this administration get the policies through. >> absolutely. i might add one more thing. you asked about my 100 days and i guess one of the things i want today highlight was that there is a role for the federal government, as we have recently seen on march 30th, when i-85 in georgia suffered
tremendous mishap where there's a fire underneath a bridge and the emt, the emergency responders, first responders, were fantastic in getting to the scene so quickly and in containing the fire, within such a short period of time. we've partnered with the state department of transportation, i spoke with the governor and the state commissioner for transportation and within the hour of request for emergency funding we came through with $10 million and this project, this rebuilding of this bridge that was so daniel-- damaged seems to be going along well. it's a tribute to the georgia department of transportation, to commissioner mcmurray and governor nathan diehl that they
are doing such a wonderful job in restoring this bridge ahead of schedule and probably ahead of cost as well, so this is a wonderful example of what the public vector can do in partnership with the federal, state and local level and the private sector. maria: it's also an example of the work that you're doing in terms of affecting people's lives. >> we hope so, thank you. maria: secretary, thank you for joining us. >> thank you. dagen: coming up, earnings in focus on wall street this morning. apple set to report after the bell. what investors are expecting from that tech titan. and fashion icon, coach, a big double beat in morning. we'll break down the numbers this morning. ♪ like what goes down doesn't always come back up. [ toilet flushes ]
we're 45 minutes away from the opening bell. take a look at some stocks on the move this morning. coach set to be a winner on wall street. the company reporting a higher than expected first quarter profit as the company cuts back on the discounting. that stock soaring, even though revenue did miss expectations. you can see 7% premarket gain on coach. but the company most they're waiting to hear from today, apple. the tech giant reporting after the closing bell. expecting a profit of $2.02 a share on revenue, and investors are, of course, keeping an eye on the company's massive cash pile expect today top more than 1/4 of a trillion dollars. to talk about that and to weigh in on the tax, host of "varney & company," mr. stuart varney. i love it when you talk tech stocks. stuart: why do you love it when i talk about tech stocks.
dagen: because you talk about the companies not in terms of stocks, but what they do in terms of business of the company if you're a shareholder. stuart: i've been doing this for 40 years. i'm not sure i've seen five companies dominate like these five. we call them the fabulous five. i'm not sure-- let's see if i can get it right, it's apple, it's alphabet, it's microsoft, and it's amazon and what is it going to do? it's going to give a special dividend to shareholder and i think a lot of shareholders are hoping for that and that accounts for some of the run-up in the stock that we've seen and they can buy back their own stock. they can buy virtually any other company on the planet full cash if they want to. so far they haven't. they could do it and they could bring that money back to america, invest in new
factories here and build the iphone in america. i think it's highly unlikely or they can do absolutely nothing at all. leave their quarter trillion dollars over there, and not bring them back over here, in which case i think they've got an enormous political problem. the politicians would do something about that. so, i think that money is going to be put to good use and i don't know what that good use is going to be. dagen: if to do something about that you're talking from politicians, stuart, the do something make it attractive from a tax perspective to bring it back. stuart: let's suppose they drop it to 15% and apple still doesn't bring the money back, then do the politicians do? they hold enormous power. when you've got a quarters in cash, you are a powerful entity. and you can pretty much do what you like. so, i don't know what the politicians would do to them. but you can guarantee, it will
be one almighty fight about the quarter trillion dollars. dagen: stuart, i still think they could buy netflix. stuart: maybe, who knows? they could buy disney and netflix and still have some left over. i don't think any group of companies have been in this position before, ever. this is unique, we shouldn't ignore it or focus too much on politics. look what's going on with america's high-tech corporations, the fabulous, five, this is extraordinary. dagen: this is why i love it when you talk about companies, history, passion. stuart: i'm a stockholder in microsoft let's not forget. dagen: and microsoft is not doing too shabby, giving amazon a run to have their money with the cloud computing. you think they're on the way out, no, siree, bob. stuart: it's at 69. you could see it hit 70 a
share. you could see apple hit 150 this morning. see facebook hit 155, see amazon and google have a run at $1,000 a share. you could see that today. dagen: stuart, see you again. this is what you get every morning. coming up at 9:00 eastern. how facebook users are using a popular trend to steal your information.
the government has issued an urgent warning, telling consumers to immediately stop riding or charging lazy board hover boards. cheryl casone has the details. >> hey, and that's the specific name because the boards were not among the boards recalled last summer. in harrisburg, pennsylvania, the fire department said in march that a lazy board began to, well, sizzle and exploded into flames while it was plugged into an outlet in the home. well, that fire killed a two-year-old girl and a 10-year-old girl. so now the consumer product safety commission says that since it's the first case of an exploding hover board causing death, they're going to put out, obviously, a huge warning about this particular hover board, but overall, not good news for hover boards at all. got them. all right, facebook users, you're being warned of two unusual security risks on facebook, one involves fake coupons offering before
mother's day, taking you to a site that takes information from you. and a game that asks you to post the names of concerts you've been to. the thing, security experts say it could be used for a hack atta attack because that information could be used by them to get into your computer somehow, we're looking for details. >> the stars came out for the met gala. fashion experts say too many horror stories. rihanna, a 3-d honor, one of the hits i guess you could call and katy perry made a splash, the all-red outfits and olson twins. it's considered a big party for new yorkers, biggest of the year, celebrities wearing, let's say off-beat outfits or head dresses or things with feathers. and let's move on to happy news, i love the story. april giraffe's baby has a name.
the baby's name tugeri. and it's in upstate new york. the zoo held a contest, it means hope in swahili and millions watched her birth on the internet. dagen: i watched it, too, i thought it was spectacular and the mother giraffe, did you see the video where she kicked the trainer in the stall when the veterinarian came in, into the stall. she kicked him twice with her front leg. yeah, mama is breaking bad. [laughter] >> that's true, that's true. dagen: thank you, cheryl. >> you bet. dagen: coming up, final thoughts from our all-star panel. ♪
how are we going to pay for it. dagen: amen. >> everybody calling it a trump rally and then they're growing. >> g.o.p. needs to unite. they better unify. dagen: "varney & company" starts right now. stuart: yes, it does, thank you, dagen. good stuff. the president caves on government spending. the democrats exploit a divided republican party and claim a big win. good morning, everyone, the republican party cannot agree on health care, government spending or taxes and to get anything done, they have to give in to democrats. cornyn says, we can't pass anything. it does not include anything with the wall, but keeps money flowing to sanctuary cities. that's why the president it talking about gas tax to pay