tv Mornings With Maria Bartiromo FOX Business October 13, 2017 6:00am-9:01am EDT
health insurers, president tweeting moments ago. democrats, obamacare is imploding, massive subsidy payments have stopped. this coming hours after president trump signs an executive order allowing people to buy insurance across state lines. >> i've been hearing about the disaster of obamacare for so long since i've started running and since i became president of the united states, i just keep hearing we peal, replace, repeal, replace. well, we are starting the process and we are starting it in a very positive manner. maria: we are taking a look at what this means for health care this morning. bank earnings in focus once again on wall street. bank of america and wells fargo on task to report ahead of opening this morning. concern for wells fargo, the bank's recovery from fake account scandals. broader markets look like this. take a look at futures right now indicating a higher opening for broader averages. a bit of a breather but the
market is back up to momentum today with dow industrials set to up 13 points, nasdaq, s&p up a fraction. ftse is down a quarter of a percent. but the cac quarante in paris and dax index in germany are up. in asia markets closed mostly higher. nikkei average in japan best performer up about 1%. breaking news right now, new orleans police officer shot and killed in the line of duty. shooting took place during routine patrol, we have the very latest developments out of new orleans earlier today. the devastation in california meanwhile spreading, the death toll from mass i have wild fires now rising to at least 31 making this the deadliest week of wild fires in the state's history. hollywood sexual harassment scandal expanding, head of amazon studios facing accusations and actress slamming at jeff bezos over twitter. plus new questions over harvey
weinstein, report saying that his contract essentially allowed for sexual harassment, the explosive details ahead. all the stories coming up this morning and joining me to talk about it dagen mcdowell, kevin kelly and the king's college professor of business and economics brian brendberg, great to see you. kevin: we have a big day today, cpi is released today, the one thing that has really confused the federal reserve and so we will have to see what kind of number we get out today. maria: ppi was up four tenths of a percent. kevin: we've had a lot of the price of commodities go up because of the hurricanes so we may see a higher number than we anticipate. maria: yeah. dagen: you're a nerd. [laughter] kevin: i like it. maria: he's going to be charged likely with assault. if not rape. so we will talk about harvey weinstein.
the story is getting bigger. kevin: and worse and worse. dagen: district attorney after investigation with the new yorker published the audiotape from some years ago. maria: for sure. we will look at that as well. wilbur ross is with us this morning. big interview can kentucky senator rand paul, you don't want to miss that. the ceo of double line, he's with us jeffrey joining us as well. big show ahead. don't miss a moment of it. let's kick it off right now. unraveling obamacare, president trump making move to unwind president obama's signature legislation without congress. the president halting federal payments for cost-sharing reductions to insurance companies under the affordable care act. president trump tweeted this about this morning, here is what he said, democrats and obamacare is imploding massive subsidy payments has now stopped. dems should call me to fix it. the move after president trump signed executive order which allows people to buy insurance
across the state lines. president trump explained the benefits of that order yesterday. >> this will create tremendous competition and transformative in so many ways, change aimed at creating more and lower prices for millions of americans, but the competition will be staggering. insurance companies will be fighting to get every single person signed up. maria: brian brendberg, we are talking about more competition? >> we are talking about so many changes here that the president is driving and what's interesting is he's putting pressure on both democrats and republicans, democrats, look the headline here are going to be bad, these cost-sharing subsidy reductions are going to tank the obamacare exchange. so democrats are on notice and republicans are on notice, catch up, let's get on the ball and get the legislation going.
kevin: we are highlighting that this is not actually debate over health care. this is a debate over a system whether it expands government, inhibits free markets, shuns individual responsibility, i mean, just by the name alone cost-sharing, you know, cost-sharing reductions, that shows how broken the system is and shows how it's limiting our choices right so this is about the economic system which will distribute goods and he mentions health care companies, and show that is this is really distorting the market so this will help free the market because -- the government doesn't need to subsidize plans, people can now group together, get associated health plans and become the consumer which is king and they can bid now with the insurance companies. maria: now, dagen, the open enrollment season is going to be starting in less than three weeks. the season to buy coverage through the exchange. dagen: this could cause more insurers to leave the obamacare
exchange number one, but worth noting that many insurance companies did anticipate that the trump administration would remove the subsidies. so they have priced their plans for next year at higher prices in anticipation of this. there was a two and a half percent surcharge added by california on its silver plans as hedge against possibility. they haven't been anticipating this. the political calculation of this is very interesting because it seems like if this speeds up the collapse of the obamacare exchange and speeds up some of the problems that we've seen with the health insurance offered through obamacare, the trump administration seems to be push -- they are trying to push it on congress as they have with daca, as they have with iran deal. push it on congress, let congress deal wit. we aren't -- the trump administration, we are not going own these problems.
this is all on congress. it remains to be seen whether that will work politically, but economically financially, people will feel this quite frankly. maria: i'm wonder if rand paul has been -- he had his own ideology, reasons for not voting if. >> the health care bill last time around. seeing rand paul standing behind the president. i'm wondering if the president said, look, i know you want this, i'm going to do this, i need your vote on taxes. dagen: could be. kevin: came out with rand paul. rand three weeks ago said it was going to happen. maria: this is what rand paul wants and i'm wonder if the president is basically saying, let's do this, let's do what you want, make sure you're there when i need your vote for tax reform? dagen: absolutely. one funny thing i will point out with all due respect with senator paul, expression on his
face when he was with the president and it was kind of like -- [laughter] dagen: it was one of -- kevin: sense of relief. maria: somebody will tweet that out. kevin: senator rand paul said anyways that he would rather see tax cuts happen and not worry about the deficit. he's been a budget hawk and he's willing to compromise on that. he's already said that. maria: i feel like the president will get his vote now -- i don't know. i'm throwing it out there. tax reform is obviously the most important now on their plates and house republicans are moving toward on agreement to preserve part of federal deduction for state and local taxes according to cowall street journal this morning reportedly coming as way to keep the break for middle income households while repealing for high-income
households. looks like they are coming with compromise. some people will be able to deduct. brien: trade-off and being able to pay for it. you're going pay for some tax cut, it will have to be with state and local tax deduction. you've got congressmen from the states with very high state and local taxes. maybe this is a trade-off to say, look, we are not going to pay for this the way you we wanted to said in the past. we need your vote anyway because we have to get a tax cut through for economic growth. dagen: higher-income americans are going to get a tax increase. i think time -- what you're hearing, what you're seeing and basically i'm a little dismayed and thrown off. maria: so am i. dagen: on the republican side. maria: a portion of the people are getting tax increase. maria, you have to look at the entirety of the package. i do agree getting corporate tax
rate down is going to move the needle in economic growth and everybody benefits. i totally agree. the highest-income people will actually see a tax increase if this deduction goes away and if they come up with a fourth bracket. dagen: the reason and we have discussed this over and over again, the reason i'm thrown off by that because it does give in the to the left-wing liberal democratic logic of the wealthy don't deserve a tax cut. well, but they are job creators in the country and they do help economic growth and they pay most of the taxes. maria: explain where the triple down economics is. kevin: here is the problem, tax code is 75,000 pages, complex, lobbyists who are going to try to protect interests including state and local deduction and if you think about it -- maria: and property taxes. kevin: if i time travel and go back to 1981 and 1986, president reagan wasn't even able to get this done and you saw a big
group of lobbyists from everywhere get together and try to defend this. dagen: ronald reagan used to be able to reduce interest on credit card debt. if they can get rid of that deduction, they can take a giant change saw to the tax code. maria: yeah, lots to talk about that, more on that coming up. new orleans police officer shot and killed on line of duty. what officers are learning from the scene and then it is earnings day for bank of america and well fargo this morning. first up before the market opens, bank of america, will it beat the street, we will bring g you live coverage coming up ♪ can i kick it?
when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do. talk to your doctor, and call 844-214-2424.
maria: welcome back, we are following breaking news out of new orleans this morning. a police officer has been shot and killed. cheryl casone with the story now, cheryl. cheryl: that's right, maria. the shooting taking place near apartment complex in new orleans few hours ago. four officers on routine patrol when they were attacked. well, president trump announcing
he will not certify iran is complying with 2015 nuclear deal. white house say it is u.s. will instead focus on neutralizing the government iran's quote, destabilizing influence and constraining its aggression. fox business is going to carry the president's speech live today 12:45 p.m. eastern time. meanwhile two republican senators also this morning unveiling a plan to sanction iran if the regime gets close to making a nuclear weapon under their proposal, corker and cotton, iran will face automatic sanctions if it builds up nuclear program to the point of being one year of having a weapon. all right, amazon programming chief roy has been suspended in the wake of sexual harassment accusations from iza, producer for amazon's demand of the high castle. he repeatedly propositioned her in a company party in 2015, she reported the incident to studio
executives who brought investigators into the allegation but she was never made aware of any outcome. allegations coming just as actress slammed bezos that studio ignored her claims that harvey weinstein raped her. new york city detectives are taking a fresh look in assault allegations against harvey weinstein. investigators reviewing police files to see if any women reported being assaulted or harassed. weinstein has denied any noncon sensual sexual conduct with any women. tmz harvey saying weinstein contract with the company essentially allowed for continued employment should sexual harassment lawsuits come up and weinstein company publish -- maria: what a contract, thanks,
today we're going to talk about trucks. which of these truck brands do you think offers best in class hd horsepower and the most capable off-road midsize pickup? i'd go ram. i would put it on ford. let's find out. noooooooo. chevy. that's right, it's chevy. they look amazing. wow. chevy's killin it. yeah, definitely. trade up to this light duty
silverado all star and get a total value of over eleven thousand two hundred dollars. or during truck month, get 0% financing for 72 months on our most popular chevy trucks. find new roads at your local chevy dealer. something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so you can head into retirement with confidence. talk with your advisor about shield annuities from brighthouse financial established by metlife.
maria: welcome back, bank earning season in full swing. we are waiting results from bank of america and wells fargo. as soon as we get the numbers we will get them to you. we heard from jpm and citigroup yesterday. community banks moving into the future of finance, striking up partnerships to create cloud banking for clients, new program launched yesterday by the community bank connect 1 and banking software company encino. joining us the connect 1 ceo as well as encino ceo, pierre. thank you so much for joining us. >> thank you, maria. maria: we are seeing more
connection between banking services with technology. >> they have to drive efficiency in customer experience that match and what we are doing together is drive customer experience where you'll be mobile, digital and you'll get speed and convenience at lower costs. maria: how does it work? >> you would use to think bank in limestone building and it was the only and you went in there and deposited your money and took a loan, today you have infinite choices and for us to impact our client and really provide for compliant experience today that people want in this new digital age, we can't think about brick and mortar anymore. you to think about your cell phone, your bank is here, that's exactly right. we are a small community bank, connect 1 exists here in new york metro market, we don't have the technology or innovation to be able to develop the technology that is we think we
need to deliver that service. our partnership here with encino allows us to provide an extraordinary experience to our compliant. of course, it's the culture of connect one to want to be that so that's how we want to differentiate client experience but without the partner of encino we won't be able to do that. kevin: isn't one of them and you are in ecosystem with 30 other banks and not trying to get market share from paypal, it's trying to provide the customer experience. >> we want to be relevant to our client, right. we want to develop and have the product that is they want, sometimes even before they know that they want them and, you know, that's an example of doing that. this partnership, however, is much bigger, much broader, it's really about how we are going to operate the bank in the future, create efficiencies, create value for our shareholders. dagen: with the limestone bank, the biggest headache grumpy old
man who denied you for a loan, now a adays, -- a days, you say my financial is not secured. >> i think that's a great point. another reason why a partnership with a company like encino is so value. it is highly secure, we could never provide that level of security with our own resources within connect one bank even our concrete vault doesn't provide the security that you would get from a cloud -- >> if you think, it's a playing field, the cloud provides to community bank sector that's deployed in large banks today. the other thing it gives you is the ability to decide how to deploy capital. some banks, 7eleven in every
corner, like big box store or apple store, a few branches, technology show case and my people in technology will interact with you, okay. this technology gives you those choices, decide how to expand your bank to much wider fingerprint and go to vertical fashion. so this technology really expands the way banks can think about market strategy. kevin: should i think as consumer, i'm a connectone client, right, so i have an account there and i go to apply for a loan, am i then pushed on to the ncino platform? >> seemless to you. you will just see a vastly, better, more efficient system. if you want to walk into a branch and make a deposit you'll be able to do that but if you want to apply for mortgage, that whole process is going to go on in the background in a very efficient manner and we are going to take that information that you gave us to open up your deposit account and going to prefill all your documents,
you're not going to have to fill out documents 72 times, ask for signature 72 times and the process will be much more streamline so you will feel better about your relationship with us but they will be in the background. >> no more reentering of data twice. reissuing of documentation previously provided. today all the systems are behind the scene and when the bank needs a document it's easier to ask the document as oppose to finding nit the vault. now when you restart a new loan or application, you just reuse what's there already and it sounds so simple but in banking, it hasn't been around and the platforms allow that. maria: just like health care, so much data is out there and once you the data in the system it alleviates bureaucracy. >> how much do you love when you go to the doctor and every doctor and fill out the same forms over and over again. maria: banking and financial
services as far as the data is concerned, old school, gentlemen, congratulations. good to see you both. thank you so much for joining us. frank and? bank of america wells fargo later this morning when they hit the tape, two people are dead this morning after attempted escape at a north korea prison. the dramatic details including fire inside the facility during the incident. wait till you see this, back in a moment. ♪ [vo] the grille is distinctive. but it's usually seen from the rear. the 2018 audi q5 is here. today, innovation in the finger lakes is helping build the new new york. once home to the world's image center, new york state is now a leader in optics,
photonics and imaging. fueled by strong university partnerships, providing the world's best talent. and supported with workforce development to create even more opportunities. all across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov. and i'm the founder of ugmonk. before shipstation it was crazy. it's great when you see a hundred orders come in, a hundred orders come in, but then you realize i've got a hundred orders i have to ship out. shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everything's pretty much done. it's so much easier so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free. [vo] quickbooks introduces he teaches lessons to stanley... and that's kind of it right now. but rodney knew just what to do...he got quickbooks.
it organizes all his accounts, so he knows where he stands in an instant. ahhh...that's a profit. which gave him the idea to spend a little cash on some brilliant marketing! ha, clever. wow, look at all these new students! way to grow, rodney! know where you stand instantly. visit quickbooks.com. intelligent technology can help protect it.
the 2018 audi q5 is here. '86:30 on the east coast. bank earnings in the spotlight had of the open. all eyes on wells fargo as the company works on the phony account scandal. broad market ahead of the results fractionally higher. markets were down yesterday, down industrial up 12 points, nasdaq and s&p 500 also with a firm tone. in europe major indices i mexico s&p is down, the cac quarante higher. overnight markets closed fire with nikkei average in japan up
one person. california in flames. incredible story getting worse, 31 lives lost, hundreds of others missing, the deadliest week for wildfires in the state's history. firefighters grappling to get a handle on the raging infernos, forced to leave their homes and businesses to get to safety. >> when you have to run you have to run. you have to leave faster. you have to save your life and your kids's life. maria: on the ground in wine country with a look at the devastation taking place. cashing in on catastrophe, the fbi opening an investigation into claims of corruption against puerto rican officials as the us territory struggles to recover in the wake of hurricane maria. x marks the recall, the tesla model x suvs need to go to the shop.
the true story behind winnie the pooh headed to the silver screen, a preview a goodbye christopher robin. the california wildfires the deadliest in the state's history, the death toll has risen to 31. hundreds of others still missing. will car in santa rosa with the latest. >> reporter: as the sun comes up cadaver dogs will start navigating through this area with cars charred and crumbled and they have to go property by property home by home looking for more bodies. you mentioned 31 people have been killed by these fires. the number will go up, 400 people still missing and as they go in, this is a slow difficult search process. authorities found several bodies yesterday. all i found were fashioned bone, many dental records to identify victims. at the same time we are hearing stories of survival including a
couple who jumped into their neighbor's pool and hold onto each other for warmth as the fire surrounded their community and burned everything in its path they survived. we heard from a woman who lives in his use home was destroyed. listen to what she had to say. >> people are going to be direction, trees were down, it was apocalyptic. >> 13 years. we don't know what the next move is yet. >> reporter: 8000 firefighters on the front lines got little help from the weather yesterday but it is supposed to get worse for the next week. winds will increase, not good news on that front. authorities tell us they had problems with looters, five arrested and several officers told us in this neighborhood they ran into a man, hard to
believe someone would be looting destruction but they found him trying to steal a gun safe, picked him up and arrested him. maria: the winds will pick up tonight. we turn to the healthcare battle in washington, frustrated by congress as failure to pass a bill donald trump will use the pen to clear the way for obamacare alternatives which is what he did last night, the white house announcing plans to end billions of dollars in subsidy payments to insurers under the affordable care act. we resided in the order allowing employers to offer coverage across state lines. >> this will allow thousands of small business employers to have the same purchasing power as large employers to get more affordable and generous options for their workers. maria: the president welcomed several small business owners for yesterday at announcement, joining us is catherine munson. thanks for joining us. >> honored to be here. maria: i saw you next to the president during his speech.
tell us how your company will benefit from these changes. >> fast signs is the largest visual graphic franchisor, we have 660 locations, 590 in the united states and they each own their own business averaging ten employees. what we will do is have that supply chain, that purchasing power rather than a franchisee trying to get group insurance for one location with ten employees we take 590 locations and pool our resources and get a better price for 6000 franchisees so it is taking the franchised business model and the power of purchasing power and supply chain and bringing it to the advantage of franchisees and more importantly to the advantage of employees bringing quality, affordable health insurance to their employees. maria: you are a small business, healthcare was one of the biggest costs for you.
>> exactly right. we have seen our premiums skyrocket, franchisees had the same situation. this ability to pool our resources is going to be fantastic blues not only for fast line franchisees but all small business owners because small businesses pull together with any association with is the international franchise association, bringing strong purchasing power big companies already have. dagen: the order was signed by the president. are the insurance companies ready to act on it? have you had insurance companies setting up these health plans and have a quote you lower premiums? >> we haven't gotten that far yet. insurance companies need to know they have the ability to sell insurance across state lines and bring the competitive pricing power to bear. some insurance companies prefer
this didn't happen but they have a higher margin more expensive for small companies but we need to bring fairness to small companies that they already have. >> one of the biggest things can i band with another small business and how does that look like, what are your thoughts on initiating this and implementing it? have you started and will you designate and hire somebody to oversee this? >> we look at lots of ways. one would be a health plan for franchisees but if you think of the power of pulling small businesses together even better prices could -- an international franchise association plan, on the board of directors of the national
franchise association, 733,000 small businesses in the us are franchised. instead of looking at getting pricing power for 6000 franchisees, we look at millions of employees numbering better pricing, better quality healthcare with more options to all those members of the international franchise. >> the president is moving with a stroke of the pen and you are a fan of what he is doing but what is done with the stroke of a pen can be undone with the stroke of a pen. are you looking for congress to provide legislation to provide a more comprehensive solution to what is going on with care or is that the best we can get at this point? >> you have been reading my mind, don't know how you do that. we are very excited about hr 1101 which passed with bipartisan support in the house of representatives last march and it has been languishing in
the senate. executive order can be undone with next administration. we need a legislative fix and i'm very hopeful the president signing this executive order will get some pressure on the senate to take up hr 1101 and pass it. that is an amazing way for us to codify association health plans, very important bill. dagen: one in the wall street journal with donald trump ending the subsidies to health insurers, the journal reporting the president has told at least one lawmaker he would support preserving these payments if the bipartisan deal between lamar alexander and patty murray comes together so these subsidies might go away. >> sound like a good negotiation plan. maria: thanks for talking with us. coming up, disturbing reports
so we created the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. you can even see how well you're sleeping and make adjustments. does your bed do that? the most amazing part is they start at $699. that's $200 off our queen c2 mattress during the final days of our fall sale. ends sunday. visit sleepnumber.com for a store near you
i own my own company. i had some severe fatigue, some funny rashes. finally, listening to my wife, went to a doctor. and i became diagnosed with hodgkin's lymphoma... that diagnosis was tough. i had to put my trust in somebody. when i first met steve, we recommended chemotherapy, and then we did high dose therapy and then autologous stem cell transplant. unfortunately, he went on to have progressive disease. i thought that he would be a good candidate for immune therapy. it's an intravenous medicine that can affect the patient's immune system and unleash it against the cancer. with chemotherapy, i felt rough, fatigue, nauseous. and with immune therapy we've had such a positive result. i'm back to working hard. i've honestly never felt this great.
i believe the future of immunotherapy at ctca is very bright. the evolution of cancer care is here. learn more at cancercenter.com appointments available now. maria: all about earnings, markets point to a higher average setting the tone for the markets this morning. looking at a couple names on the move, starting to clear the way for the $66 billion deal, the company selling part of its agricultural business to rival basf for $7 billion to ease regulator scrutiny, also saying the money will refinance the
month centered deal, shares are up 40% over the last year. the cord cutting trend weighing on the cable industry, at&t shares down 6% yesterday as the company showed 90,000 fiber and satellite-tv customers in the third-quarter. services were hit by the announcement, dish network for example was down 5%. at&t shares down a bit in the premarket. attempted prison break in north carolina left two people dead, 10 injured. cheryl casone he with details. cheryl: two prison employees killed in the attempted escape, officials wouldn't say how this happens. let's listen to the dispatch call. >> an officer struck multiple times with camera. significant bruising and bleeding.
cheryl: the inmate started a fire at the prison sewage plant. none of the inmates made it out, two hospitals after the fire, several were prison workers. donald trump suggesting puerto rico needs to shoulder more responsibility for recovery efforts from hurricane maria saying federal emergency responders can't stay forever. the fbi and puerto rico saying it received multiple allegations from residents who they local officials have fema supplies. tesla no stranger to voluntary recalls, the automaker issuing a recall for 11 model x cars released last year. the problem with the second row of seats, the company found poorly the cables connected to the second row yank it forward during the crash. tesla hasn't received reports of this happening but the recall is based on research. take it to the dealer or use the mobile repair apps to contact a technician.
the second process a little easier. updated version of the mobile apps. travelers have to click on the apps to acknowledge federal restrictions on banned items in your luggage and you get your morning pass. the only thing we don't understand is how travelers totally airline if they plan on checking a bag. those are your headlines. >> that is nice but getting through to the deck of the check in matters, they are fixing all the problems -- dagen: you know how to pay for a ticket. >> they fix these problems but you got to stand in the tsa line. dagen: or tsa pre-check although i warn people -- maria: the pre-check line is longer than the regular line. dagen: i am warning people delta, jfk and laguardia have implemented a new system for
the tsa is testing and it is a stone cold nightmare. the way the machines work a flag every third bag for an actual hand inspection by the agent and once you get through the screening, 50 people waiting for their luggage. this is pre-checks they are doing. maria: why are pre-check line longer than regular lines? dagen: they don't staff them as much. >> advertising them. dagen: i fly every week pretty much. >> the government is very efficient and runs everything so smoothly so that doesn't make sense. maria: it is friday the 13th. the brave fans checking out a scary movie. we will find out of the horror flick will scarab quick sales.
maria: breaking news, bank of america earnings out, $.48 a share versus an estimate of $.45 a share, revenue it $21.8 billion versus an estimate of $21.9 billion. revenue below estimates better earnings better than expected on bank of america. stock is down fractionally. >> this is pretty consistent. a lot of analysts on this, if
you look at bank of america's they are the largest lender, second-largest lender in texas according to fdic, so big they had mobile teller machines going to florida. you will see move of the stock when earnings call happens and brian moynihan talks about how it will impact him. one reason revenue numbers are driving stock is because they need to redeploy more capital to shareholders to increase return on equity lower than all their peers so they have been trying to rebound. they have done well but the hurricanes have thrown them off. the next leg of growth for these big banks is deregulation. trading revenues have been down significantly. jpmorgan's training revenue down 27%. we will see the readthrough on trading revenue for bank of america but if they need to
give good guidance when it comes to these hurricanes and what will do today returns. maria: revenue up 4%, it is okay, you weren't expecting a great number because they knew loan demand was slowing down across the banking sector. that is one of the key components. >> jamie diamond talking about economic growth and the tax reform plan. that is why he is talking about that, they need that economic growth because the loan demand slowing down, lack of volatility means they are not making money on trading. that is also why you are not seeing much reaction in the market even to earnings beat because people are saying where is the juice going to come from for banks unless we get tax reform and deregulation. >> looking at overall provisions for credit losses up 15%, that is pretty significant. you need to see we need tax reform to help alleviate the consumer into spending and pick
up inflation as well as the deregulation story playing out. dagen: please stocks in the last month broadly speaking had run up and yesterday despite jpmorgan and citigroup those stocks fell. you are seeing a pullback. even if the news is okay or pretty decent than it was yesterday you are seeing people take profits. >> brian moynihan sees a 4% increase in revenues or miss on revenues on this, can they deliver next year. jpmorgan sees a 6% increase in revenue, that is taking loan growth down it is shrinking. we are talking about bank of america, the wealth center bank. that is gone over into jpmorgan and they have been taking
market share from wells fargo. it is hard to get a read through depending on different revenues. >> want to bring in bank inequities director marty moz be with us. what is your reaction to what we are hearing from bank of america? >> listening to the conversation, pump the brakes a little bit. what we have is the hurricane will take away the economic disruption these banks had. they had some confident -- conservation in florida and texas causing it to come to a halt. for them to miss the little amount on revenues and what we had in capital markets, capital markets had a 15% decline across the board when you talk
about fixed income. that is in earnings pressure. besides that you have deregulation with capital. shares are going down 5% to 6%. with that you only need 5% growth in revenue with no expense growth to create 10% double-digit growth year over year which we are seeing in the banks right now. maria: what the reports tell you about the overall environment. when you look at fixed income revenue down 20%. fixed income taking a major hit once again. it is trading up, what does that tell you what is going on in the business today? >> pressures going on, fixed income is down. we had rates go up early this year. yield investors saw that, we
have rising interest rates and then rates fell out from under them. we could have bought that rate a month ago, waiting for those rates to wind up again. that is causing fixed income. that is the pressure we are going through. that is the next phase. the phase is rounding up interest rates on average. we haven't been there in a straight line 50 basis points. maria: would you buy bank of america shares? >> market outperforming, we would. maria: we will get on wells fargo reporting earnings as well before the open. something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities.
and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪ maria: tgif, thanks for joining us, it is friday, october 13th, top story 7:00 am on the east coast, bank earnings and focus, bank of america reporting better than extended profits revenue missed slightly, the expectations, stock is trading up. we will hear from wells fargo. the concern, bank's recovery from its failed account scandal, wells fargo shares down at of the numbers, bank of america up one person helping the broader markets. broader markets showing a gain, down the opening 20 points, and
a second s&p 500. in europe the major indices i mixed, the s&p is down, the cac quarante in paris, dax index in germany up fractionally. in asia overnight markets close higher with the standout being japan, nikkei one person. another blow to obama white house announcing it will end subsidy payments to health insurance companies, donald trump taking action with congress, slammed democrats for their in action while signing an executive order allowing coverage across state lines. >> seven years ago congressional democrats broke the american healthcare system by forcing the obamacare nightmare on to the american people. it has been a nightmare and every congressional democrat has brought the effort to save americans from obamacare. maria: what changes mean for healthcare in america. the devastation in california has spread. the death toll from massive wildfires up to at least 31 people dead.
the deadliest week of wildfires in the state's history. hollywood sexual-harassment scandal is expanding. the head of amazon studios facing accusations. actress rose mcgowan lashing out at jeff bezos over twitter over the whole thing. new questions over harvey weinstein, a report saying this morning his contract essentially allows sexual-harassment. as long as he pays for it. exclusive details coming up. taking a stand against national anthem protest, one sheriff using the power of the purse against ford motor. joining me to talk about it dagan mcdowell. kevin kelly and kings college professor of business and economics brian brent berg. >> the only thing i want to say is we have seen late training volumes, interest margins would go up if the fed raises interest rates and slowing loan
growth but morgan stanley says the only way banks could go higher is deregulation. they see deregulation adding 8% to large-cap to bank earnings-per-share and money center bank setting 14%. that is how big deregulation is. maria: to what deutsche bank said a few months ago but he was talking tax reform and he said 5% decrease in corporate tax rate is equivalent to 5% to 8% earnings on major banks whether it is deregulation or a tax plan, banks will get a revolution. >> they are counting on it. maria: i a are going to get it done. a disappointed america on health care. >> how much erosion happened for top end earners, does that spill into business as well? corporate tax cuts are a tax-cut for the rich, you're seeing advertisements for that.
maria: 20% is redlined. >> congress has to have it as their redline. maria: paul ryan is agree with the president on that. dagen: average investment is 22.5%. that would put us in line with the rest of the world, we used to have one of the lowest corporate tax rates after the reagan tax reform. maria: a lot of major banks didn't pay that. they had loopholes enabling them not to pay 20% so that is why small businesses are the beneficiary. we are talking about all of the above. commerce secretary wilbur ross with us, rand paul is with us and jeffrey goodlatte is here. we kick it off this hour with for healthcare reform. donald trump followed through on that threat to halt federal payments for cost-sharing reductions under the affordable care act. the president signal readiness to reach across the aisle for healthcare reform tweeting the democrats obama care is
exploding, massive subsidy payments to their insurance company stopped, should have called me to fix after he decided executive order yesterday allowing people to buy insurance across state lines as well as lower insurance costs, he spoke out about lack of congressional action to fix obamacare yesterday. >> 7 years ago congressional democrats broke the american healthcare system by forcing the obamacare nightmare on to the american people. it has been a nightmare. look at what is happening with premiums and increases of 100%, 120% and in one case, alaska, over 200%. now every congressional democrat has brought the effort to save americans from obamacare. met cohost of the 5, good to see you, your reaction? >> i'm incredulous because i
remember when the president as a campaigner said barack obama signed executive orders defining the will of congress, that is what he is doing, sabotaging obamacare which has the support of the majority of the american people for the first time ever. maria: you think obamacare is working. >> it is not perfect at all. this is an opportunity for republicans and democrats to work together to make a better healthcare system for america. the irony is you have 60 plus votes by republicans in congress to say we will repeal and replace as long as obama wasn't there and he knew it wouldn't pass, trump is there, they couldn't come up after seven years with a better plan in terms of more insured people are lower premiums and consumer protections. >> democrats have to work with president, he is taking this action because democrats won't come to the table and are completely hands-off so you see them obstructing. maria: they don't want him to succeed. >> what incentive do they have? >> they have an obligation as
public servants to supply us with a good healthcare system. they are at some political exposure if republicans take case democrats don't care about you the voter, they just care about themselves but they are making a contrary argument about the president that the president's stuart:'s to say i am fulfilling my campaign promise despite the fact he is blowing up the american healthcare system. dagen: he is not blowing it up. the insurers anticipated this would happen. they priced in removal of these subsidies to a certain extent in the plans they are selling for next year. california added 12% surtax in anticipation of this happening and bipartisan legislation moving in the senate, you have lamar alexander and patty murray working on legislation
to maintain payments while giving more flexibility to the states and how they implement obamacare. >> that is the opposite of what the president is doing a. the opposition of the insurance company. dagen: president will support preserving the payments if a bipartisan deal comes together. >> why doesn't his stuart: 8 and support the bipartisan effort? dagen: hammer down on congress with daca, the randy l and this. >> i don't he's putting any hammer down. he is hungering for political affirmation, grabbing at low hanging fruit, i can do this and i will show my base time and doing everything obama did, all he's doing is destroying the healthcare system that would benefit his base in
particular. maria: up in double digits, premiums are incredibly expensive for everybody, no choice whatsoever. that is not trump's fall. >> it is trump's fall because he's not worked to improve the system. >> working to improve it, congress couldn't get it done so he is doing it so talking from both sides. >> there is history in terms of what he is doing with this associated plan where you have small businesses or groups of individuals that can get together and not only can they get together but can go across state lines. this was tried in the 80s 90s. what was the result? consumer is left hanging with paid claims in the millions of dollars. consumer protections gone because state insurance regulators couldn't keep track of these associations. we know this is a failure. he is blowing up healthcare system's fragile as it is. >> critics i think people will move out of the obamacare association, voting with their feet, something that is appealing to them. what is wrong with?
>> it is cheaper. >> you don't want to give people affordable healthcare? >> i do. what are you saying? that is how insurance works. if you say to dagan mcdowell and me as young people at the table, you two go take the cheaper plan, guess what? the plan for all of you as older people and people -- >> i'm in the young category! put me in a different category! dagen: a big lie every politician told you, older people get medicare and that is single-payer bankrupting the country and nobody will do anything about it. there is no fairness and obamacare because young healthy people and taxpayers are footing the bill for people who didn't take care of themselves or able-bodied adults, a lot of
people who are high risk patients, ill because they didn't take care of themselves and it is hidden in the cost structure of obamacare -- >> punish people who don't take care of themselves? dagen: not saying you can punish them but there is lack of fairness and obamacare. >> don't think it is lack of fairness when what you say is people run to the emergency room, when they run and say we have a problem or at the end of their lives are in critical condition we all end of paying for it under the current insurance and it drives our healthcare costs as a nation to the highest in the world. dagen: there was the argument for putting obamacare in place in the first place but the medicaid expansion, a lot of that money went toward giving health insurance to able-bodied adults who should be able to pay for it and not get the medicaid subsidy but wound up on the medicaid rolls. that is why medicaid grew and romans, the biggest health insurance program in the world. >> look at the screen, health insurance and the election, only two truths happening now, health insurance made money hand over fist, they are
clearly the winner, clearly the loser is the actual obamacare system because it is imploding. we have to figure out, we are blaming the president because he's doing executive action, the american people lost the insurers. dagen: i will concede one thing with these executive orders, getting rid of subsidies and expanding options at the state level we don't know how this is going to play out in the real world. it will remain to be seen how health insurers react and what is going on? >> we have a young maria bartiroma here. maria: thank you. coming up wildfires continuing to blaze, the impact on airlines coming up next. these pictures are incredible. hyatt hotels becoming the latest company to fall victim to a data breach, 41 properties affected.
a hundred orders come in, but then you realize i've got a hundred orders i have to ship out. shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everything's pretty much done. it's so much easier so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free. sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.
maria: smoke from the deadly california wildfires causing flight delays and cancellations on top of everything else. cheryl: 100 flight canceled at san francisco international with 600 delayed. eight flight of been canceled, at sonoma county four flight canceled this morning. this is the deadliest week of wildfires in california history. the depth all at 31 in northern california since massive fires have been burning since sunday. 28 homes have been destroyed in the city of santa rosa alone. look at these images showing firefighters taking a much-needed break whenever they can using rocks as a pillow. headlines, stunning move, samsung ceo despite record
profits resigned, 32 year veteran oversaw the lucrative component business stepping down. samsung said it was his decision and if the company doesn't have mandatory retirement age for executive, he is 64, he said it is time to start new spirit and younger leadership. hyatt hotels reporting a data breach, hackers accessed credit card information at certain locations from march to july this year, 41 affected including the united states. fibers of the security teams fixed the issue taking steps to prevent this happening in the future, just now learning about it. there is your chart. russia didn't just use facebook and twitter to interfere in the presidential election. there are reports from the internet russian metallers took advantage of youtube and tumbler, they tried to explore
racial broken mess. we will begin the process of getting america the great healthcare it deserves a. the president continuing to tweet on obamacare. hollywood sexual-harassment scandal growing, the head of amazon studios has been suspended straightahead. the debate over protests during the national anthem heating up, sheriff department speaking up, back in a moment. ♪ i can't get no satisfaction ♪ i can't get no satisfaction ♪ [fbi agent] you're a brave man, mr. stevens.
♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone i am totally blind. and non-24 can make me show up too early... or too late. or make me feel like i'm not really "there." talk to your doctor, and call 844-234-2424. [he has a new business teaching lessons. rodney wanted to know how his business was doing... ...so he got quickbooks. it organizes all his accounts, so he can see his bottom line. ahhh...that's a profit. know where you stand instantly. visit quickbooks-dot-com.
retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
maria: in case you did not stay up until 1:00 last night, here is jared mack. >> major league baseball wonders why it has a problem attracting younger fans. it is a school night, future generations of baseball fans festively before the biggest game of the season ended. nationals park, nationals and cubs, their lee disappeared in the fifth inning shares out of the bullpen giving up a two out two run double and wheeled come.com is a clear bias strikes out, the ball gets away, down first base and hit by a pitcher, john j. the chicago cubs take a 7-numfour lead, controversy in the eighth, potential tying run
at second gets picked off first, instant replay called them out. some say baseball have too many hairs. davis strikes out to end around 10 minutes to one eastern time. 4 hours and 37 minutes, 6 pitching changes, cubs win 9-8, one at the dodgers tomorrow and america lee championships in houston tonight on fox sports one of the first team to win four games goes to the world series. dagen: go astros! >> great start to the nfl season week 6. in charlotte, bad night for cam newton. peace corps will go up, california early on, touchdown for cam newton but it was 10-10 later on. carson west of the philadelphia eagles will find that hurts the second time of the night. his last name ends in tz. eagles win 28-23.
the 4 last night asking eagles receiver marcus johnson was baptized in the pool at the eagles hotel in charlotte, first time being baptized, beautiful thing, cleaned and reborn in jesus's name. some nfl players express first amendment rights by protesting the national and, some have responded with their own protests like the sheriff in louisiana, chef julia whittington said his police department will boycott forward, one of the largest corporate sponsors because the league allows players to neil for the national anthem. check that out. he says they will no longer be buying ford vehicles. recent events around the nfl and its players, american military as well as their obvious disdain for the profession of law enforcement
to take a stand. until ford pulled it sponsorship from the nfl they won't be buying ford anymore and a lot of ford vehicles with red and blue lights on top. maria: if that becomes a trend and other people pressuring companies to pull their ads, a big problem. dagen: ford makes that are vehicles then chevrolet. >> there is a political aspect because shares are like a lot of times by the people, you are seeing voters put pressure on the politicians, don't buy ford because people are kneeling. maria: and academy award-winning actor versus country music star at a texas softball field last night, matthew mcconaughey against toby keith at a softball game benefiting lone survivor foundation providing support for america wounded service members and their families. dagen: why does he have a shirt on?
he usually is shirtless. >> it is kind of tough. dagen: texas born and bred. maria: you want to see this. dagen: he is usually. >> props to the new york post. aaron judge, 6 foot 7, generous, i am just glad we showed the clip of cam newton doing his favorite brian brandenberg impression. >> do that when the show is over. maria: good stuff, catch jared at fox news headlines 24/7, we are taking a break and then in on the next story, did harvey weinstein's company contract allow sexual-harassment? the shocking reported details of his contract straightahead. donald trump stops of these 2 obamacare insurance was i will talk to wilbur ross about how
it comes in a once-weekly, truly easy-to-use pen. it works 24/7, and you don't have to see or handle a needle. trulicity is a once-weekly injectable medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. it should not be the first medicine to treat diabetes or for people with type 1 diabetes or diabetic ketoacidosis. do not take trulicity if you have a personal or family history of medullary thyroid cancer, if you have multiple endocrine neoplasia syndrome type 2, or if you're allergic to trulicity. stop trulicity and call your doctor right away if you have a lump or swelling in your neck, severe stomach pain, or symptoms like itching, rash, or trouble breathing. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases your risk for low blood sugar. common side effects include nausea, diarrhea, vomiting, decreased appetite, and indigestion. some side effects can lead to dehydration,
which may worsen kidney problems. i choose once-weekly trulicity to activate my within. if you need help lowering your a1c and blood sugar, activate your within. ask your doctor about once-weekly trulicity. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
let's take a look the broader markets. the broader averages. develop 20 points. the nasdaq and s&p 500 also in positive territory. in europe more of the mix challenge. the dax index in germany are at this wedding. take a look at the agent industries overnight. obamacare unlike support. ending subsidies for insurers. piece by piece we will begin the process.
it allows employers to offer health plans across state lines. >> we aim to allow more small businesses to form associations to buy affordable and incredible health insurance. it would open up additional options for employers to purchase the health plans for their workers that they want. we will take a look at what the move means for insurers and how it will impact the white house. coming up with commerce secretary. amazon pulled into the hollywood sexual harassment scandal. the have of them is on the studios is now facing accusations amid new reports that harvey weinstein's contract allowed the harassment to happen explosive and new details on his contract. it's incredible.
and then it's anything but the same old song and dance. the new museum taking music fans inside the grammy experience. president trump halting obamacare subsidies to insurers in a statement lessening the white house said that it cannot lawfully make the cost-sharing reduction payments. the democrats with obama care is imploding. they should call me to fix. use it piece by piece we will now be getting the great health care they deserve. on promoting health care choice and competition. journey me right now as is commerce secretary wilbur ross. good to see. i think you so much for joining us. in the past you said health care reform is a precursor to tax reform. i want to talk about that. let's talk about this measure illustrate from the white house. in terms of healthcare and
allowing it why did the president do this. the larger the group that buys healthcare in one lump the lower the premium. it's a way to help small businesses get the economies of scale a big businesses. it's very powerful tool. does it lead you closer to tax reform. the american people want to see tax reform. do you think this can get done this year. i certainly hope so. i think healthcare reform is a good thing in any event. that affects all kinds of people and it affects especially small businesses and their employees. so it's very good all the way around.
i think it does help move things forward for tax reform. the president really wanted to get something done on healthcare i know he's been frustrated with the fact that there was a real inability to get across the finish line a couple of weeks ago. >> the president is very clever. he has been very good at figuring out ways to do by executive order. this is another example of how clever that move is. >> and we are expecting the president to push the iran deal onto congress and he may recertify that. i will not get ahead of the president. we will know soon enough what he's gonna do. we will wait for the details there. secretary ross i'm going to switch gears here. the reported total trade volume between the two countries reaching 81 and a quarter billion dollars last year.
tell us about china and how that impacts the iran deal. china has been very helpful to us so far in north korea we have to see how they react to whatever it is the president comes out with later on today. >> you've had real success in terms of putting and having other countries understand that you want a fair trade. what he want to see at a china right now. the big meeting that will occur in a couple of weeks hopefully we will have a some very finite deliverables and good sales for american companies and that will be a good start. and what about mexico and canada how do you expect us not to change. nafta has been a very unfair deal for the united states and all of the small changes that
we were proposing to it in our trade deficit with them. a lot of people wonder if it's really mexico the issue or canada. there's not really much to do in the canada part of this. it's really the unfairness of the mexico site is that still a fair statement. we do have an overall trade deficit with kim that but it is somewhat smaller in absolute terms and it's also smaller as a percentage of the total trade the bigger problem is the mexican side. and what you want to seek change their were talking about changing the rules of origin and how much of the origin and the overall automobile can commit in from outside nafta. the truth is you may have seen the editorial iran i ran in the washington post a few weeks ago of cars coming in from mexico only about 15% of
their content is u.s. and a lot more than that comes not even from mexico but from outside mexico before we have to change the rules of origin. you are a businessman before going to washington. as a businessman you really saw the issues of trade and how it impacts american companies. explain to the audience why this actually needs to change. >> here is why it needs to change. the whole idea of the free trade zone was to build up total sales within it in the portion never in each country. what has really happened is that sales have left our side and got to factories in mexico and now are even moving
outside of mexico to southeast asia. that is not the purpose of the trade agreement. because nafta was such an important deal did it become a template for other deals says the problem because all the sudden companies new i can put a production facility in mexico and higher a lot more people at lower levels. everyone decided why not do that and just sell into america right the thing is corporate america can put factories where ever they want. but mister and mrs. america are not so mobile. they are the one president trump is determined to help. did anything come under that meeting with the canadian president on wednesday. in terms in the future of nafta. did you make changes or was this just a meeting to discuss what you are already knee-deep in.
>> the particular median that i was at with the president and prime minister trudeau are focused on other issues. he really focused on federal regulations. i think they really did move the needle on economic growth including the one in two out regulatory reduction plan creating community what is the progress on that. is there a lot more to happen in that regards. >> the president has already knocked out some 860 rules and regulations from the obama administration and every day were finding more and more to do. remember that obama put in something like 7,000 new rules and regulations just in the last two years he was in office. so there is a lot more to go. they will be dug out and gradually replaced.
were they all about oil and gas was it environmental was a banking or was all of the above. to make all of the above. you would think the american public was a wild and woolly place that required that many new rules. but the president systematically removing them and changing them in getting rid of them i think well beat his formula of two reductions for one increase. do you think that is one of the reasons that we been seen more activity in terms of gdp and we haven't seen tax reform yet. as this is anticipation of tax reform. or is it the loosening of the purse strings because of what you're talking about. the lower regulations.
one of the first things the ceos say is how happy he is with the reduction in regulatory burden. almost every single one it not only is expensive it also paralyzes decision-making because you have the regulations that are bad enough. and then you have the enforcement and in many cases the enforcement was even more severe than that wording in the regulation. it was a double hit. and that's one of the things that you have manchester --dash mike mentioned in the past. it takes years to get the permit process right. that's a very big problem because if you want to build a new factory and you want to build a new anything you really want to get it going. you want that take effect. i think the dave regulation will help accelerate infrastructure spending and just normal corporate
spending. >> do you expect a package to be applied to the tax plan. people are certainly on the left. i think there is generally agreement that we do need to do something about infrastructure exactly how you pay for and what form it takes. that's where the debate will be an especially what size. the president wants a trillion dollar plan and i think if we get that through it will be wonderful for the economy. secretary wilbor ross think you very much. coming up a blockbuster development in the harvey weinstein scandal. the contract actually allowed for those lawsuits it's incredible.
i have a problem with donald trump's tax plan. a big problem. eighty percent (80%) of the tax cuts go to the top one percent. the richest americans. and big corporations get a huge tax break. but a lot of families like ours will pay more. millions in the middle class will actually pay higher taxes. that's right. higher taxes! to pay for the tax cuts for the wealthy and big corporations. no early morning tweet can make that right. the trump tax plan is just bad for america. which of these truck tabrands do you think offers best in class hd horsepower and the most capable off-road midsize pickup? i'd go ram. i would put it on ford. let's find out. noooooooo. chevy. that's right, it's chevy. they look amazing. wow. chevy's killin it. yeah, definitely. trade up to this light duty silverado all star and get a total value of over eleven thousand two hundred dollars. or during truck month, get 0% financing for 72 months on our most popular chevy trucks. find new roads at your local chevy dealer.
>> welcome back police in new york and london are taking a look at the allegations against harvey weinstein. this is the have of the entertainment business and it was after allegations of sexual harassment from him. tracy with all of the details. we had been watching us all unfold. and that programming tree --dash chief has been defended. a producer for amazon men and the high castle told the hollywood reporter that price repeatedly preposition chart in july of 2015.
they brought investigators to look further into the allegations but that is as far as it went. this all comes as actress rosa mcgowan called out jeff at base oh in a twitter post. the story last night said the kind contract allowed for content drew employment even if sexual harassment claims arrived. it says if he gets sued for sexual harassment for any other kind of miss deed in the company has to pay the judgment or a settlement harvey can make everything good by doing two things. he has to pay the company back for what it paid the victim. number two, harvey has to pay a fine. and now what happens to the
weinstein company. a few scenarios here. some board members want to sell the company others want to write it out. if they do scrub his name from the company who's to say what could happen what kind of a clause as this to have contract. it's basically in mission that he's getting it sexual harassment allegations. those people should be held accountable also. this is it just harvey weinstein and everybody should be held accountable. this is atrocious at what has happened. do you think hollywood can stop lecturing us now. i thought about this a lot last night the lecturing and
the lecturing about president trump for two years that that is all that they could focus on but again they were always so quick to shame boldly and try to silence anybody else. and shine a spotlight on what they deem is a bad behavior of others and every other industry. except their own. it was an open secret among all of these people who worked with harvey weinstein. and every single one of these democrats he took money from him they have to have known and now they were lecturing us. journalists were shamed and oppressed. a lot of it was kept quiet. they wanted deals. think of how many women they could've saved from being
attacked in the last five or ten or 15 years. how many other contracts in hollywood have this same clause i think that's what people are going to be looking for. i'm guessing though that this company can't stand business for one reason there is no content provider at this point. tracy, thank you. coming up music fans rejoicing. with a behind the scenes look at the grammy museum experience. we are gonna check to check it out. we are back in a minute. [music] perfect day nothing is standing in my way. the perfect day.
you won't see these folks at the post office. they have businesses to run. they have passions to pursue. how do they avoid trips to the post office? stamps.com mail letters, ship packages, all the services of the post office right on your computer. get a 4 week trial, plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again.
approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide.
it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence.
go long™. ♪ >> welcome back big news for music fans on east coast. the grammy museum experience at the prudential center is set to open one week for today. and michael was there for a sneak peek. they're actually there actually coming back to the first time since 2004. a total interactive experience. very cool. let's take a look. we are here with daniel cherry. cherry. cherry. you are the man behind this. >> when you have something like that. you start something like this. this is bruce springsteen t-shirt belts we had one of
whitney houston's gallants. it looks like a couple others that they are getting ready to unveil. >> is not one of the stuffy grandparent museum. this is a look and touch museum. come engage interact. >> this is like a little performance space here. >> this is for the ultimate music fan. you can walk out here. there's about 20 or 30 songs that you can walk out to. i got chills. i'm just saying. >> that is awesome.
>> you can relive some of your favorite moments and they have that there. what was the biggest selling point you think for the museum. >> i think all of the interactivity that you can do. you can just appreciate that. i can't believe this is at this museum. it brought me back to the rich musical heritage of new jersey. but like bon jovi, bruce springsteen the jersey boys. it's all on display there. it's about seven to $10 a ticket you can go and take in a hockey game in concert. it's really a great idea. michael thank you.
breaking news we want to get to. present trump just tweeted this. it's hard to believe that the democrats had done so far left that they're no longer recognizable our fighting so hard for sanctuary crime. we will break down these details next hour mornings with maria. to fidelity to find them. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪ today, the new new york is sparking innovation. you see it in the southern tier with companies that are developing powerful batteries that make everything from cell phones to rail cars more efficient. which helps improve every aspect of advanced rail technology. all with support from a highly-educated workforce
am nent to recover from account scandal waiting for numbers as soon as they come out we bring them bank of america better-than-expected profit and relative humidity higher rates lower comforts help bottom line the revenue 22.08 billion dollars, was better than estimates checking the broader markets ahead of results futures a gain opening of trading bank stocks in positive the right, that is lifting all boats dow industrials to open up 35 points, this is the high of the morning right here, s&p and nasdaq also in positive territory. in europe, this morning, major averages like this as you see a mixed story ft 100 down a fraction the cac quarante and dax are higher. in asia overnight, markets closed most higher as well japan nikkei average up, almost 1%, another blow to obamacare the white house announcing it will end subsidy payments to health insurers senator rand paul warned about subsidies yesterday. >> -- the hands out, saying, oh we're not going sell any
insurance to individual market unless you give more money more taxpayer money, that is not capitalism that is -- begging for a handouts from a taxpayer, and i don't want to try to keep putting a subsidy band-aid on this i want to let people out of the individual market. maria: coming as a president signed executive order yesterday allows people to apply insurance cross state lines speak with senator rand paul straight ahead is a devastation in california spread death toll up to at least 31 people making dead will heest week of wildfires in the state history, questions or puerto rico the aid fbi investigating claims that local officials are mishandling supplies, hollywood sexual harassment scandal is expanding head of amazon studios facing kwufgs
harvey weinstein report says his account allowed sexual harassment joining me dagen mcdowell, kelly and kane managing partner kevin kelly, brian, good morning. >> good morning. >> big show so far. >> so nice to talk. >> lot to talk about. dagen: being here. maria: yes, i feel like every morning we have incredible stories and the conversation could not be more interesting and smarter so it really is wells fargo missed estimates on screen for i 21.9 billion dollars, where revenue the company reported third quarter compared to estimate 22.3 billion stock down 3% right. >> you this goes back to having been mired by that account scandal trying to figure out in how they go forward from there they have -- made earnings announcement saying net interest margin
missed estimates that is why you are seeing shares fall so because that net interest margin is what bank of america beat on you are seeing that affect the because more traditional lenders net interest margin has to do traditional banking we have seen trading revenues down across the board from every bank, so dependent on that that is why shares fall. >> stock like the other financial stock last month, ran up great, year-over-year performance, really since election last year again this stock, like the others ran up, any witch hicht iff a pullback. >> great point another thing bank of america earnings and if we look at adjusted numbers beat estimates adjusted revenues numbers 11.4 billion versus estimates 11.35 positive are to note think about companies, bank of america paid the most in fine 70 billion dollars more any other bank revolt to go financial crisis, you pare
where we are with wells fargo getting into their crisis how will that on the legal expenses especially net interest margins not meeting that trading revenues as well as slowing growth when it comes to loans. >> i would add they have overhanging at state level some, investigations into their sales practices that has not gone away missing on not pivoting growth the overhanging continued enforcement investigation into what is going on that is hanging on stock i think going to continue to hurt them why you see a moving so strongly -- >> -- elizabeth warren. >> that is -- >> okay in that hearing but, again, with a earnings miss and the overhanging at state level, things still are not cleared up a big cloud around wells fargo. maria: right off lows down below 3% right now 2 1/2%, we want to turn to unraveling of obamacare president trump to unweb sited the signature
legislation without congress enhancementing federal payments for cost sharing reductions to insurers under affordable care act about. >> i am pleding massive subsidy permanents to pet insurance companies stopped demonstrates should call me to picks he went are on to say obamacare is a broken mess piece by piece we will begin giving america greet health care it deserves, after president trump signed executive order allows people to buy insurance across state lines president trump said this is a beginning of positive change, watch. >> since i become president i hear repeal and replace, repeal and replace starting that process. and we are starting it in a very positive manner. and i can say when you get rand paul on your side it has to be positive that i can tell you. maria: joining me right now is kentucky senator rand paul thanks for joining us what about that, the president making these moves without congress, you've been sticking
to principles through fight over health care was what president did yesterday what you wanted? >> yeah i think a big deal, 50 million people or more, prolong to associations like, national restaurant association national realtor association, bankers lawyers all these associations they are nationwide and there is potential if these organizations -- healthy associations that millions of people would band together bring down prices many people currently don't have insurance could possibly get insurance, so if at your a restaurateur worker fast food restaurateur many times they don't have he health insurance built 15 million if they get together go to insurance company say we want a better price my guess is they have leverage to get a better price. >>, able to buy insurance, across state lines enaeblz that. >> one thing most don't roil
half insurance is across state lines large group erisa plans self insured going object forever one part that works premiums in large group across state market going 27 or 3% a year, the individual market, 20, 30, 40% a year, so what the goal of this reform is, is to let individuals if you are a plummer a welder an accountant a doctor you buy insurance for you and your foem or small group lets you get the hell out of a individual market and get into the group market, and the people in the group market coca-cola, pepsi,amazon,amgen, microsoft, this is what people want, and so i don't understand the pushback of why anybody would oppose this because, big corporate insurance is what most small businesses would love to have. maria: yeah, but not the overall reform that you have been pushing for about for a long time now you wanted an out-and-out clean repeal and replace, and you wanted all of those taxes, that obamacare
put into affordable care act you want them out not repeal you wanted the start of the conversation. >> no. we lost 5 or 6 republicans who voted in 2015 for a pretty clean repeal, and then when we got to 2017 they were no longer with us, that was a problem. but the would be thing i like about this, is i think my proposal that we are working on now also working on legislation, has the chance of getting democrats onboard doesn't repeal obamacare i would still vote to repeal it this expands the choices, the individual market itself very sick only exists with enormous subsidies to insurance companies, and those are ending now, too so this gives people an alternative i think the individual market is an aberration anomaly created by tax code of linking employment to insurance, and really the individual market is a way for the sure, to segregate people over here, then say oh we are not making money we are not going to sell it to them they make gobs of money in group market i would say hey we are
going to join the market and guess what -- basically your profit will be spread amongst more people but i don't think that this requires basically any taxpayer money would be great. maria: let me ask you this the president just said in sound bite look if you have rand paul in your corner, it must be right which was cute but you are in his corner on this, are you going to be in his corner on tax reform? >> i am absolutely for cutting taxes absolutely for bringing down the corporate tax rates we can keep our companies here, i am for keeping down the individual and bringing down the individual rates, the only sticking point i have had is detail but an important detail. if you keep the middle rate at 25%, and get rid of two big deductions how do we prevent middle class from a tax increase on this we crunched the number a lot of individuals have come to me shown me their numbers, and does look like it could happen. now i talked to the president yesterday, about this, i talked to the budget director mul vanney assured not going
to get it happy appointed finger at aides said do not let this happen i do not want to increase tax on middle class. as long as we fix this problem we see i am all-in. >> how do you do it house republicans moving toward this agreement to preserve part of the federal deduction or state and local taxes acourtyard to go journal that is one way to keep break from middle income house haldz repealing from higher house holsdz can you vote on that keeping partial state local tax deduction attackered bipartisan support. >> i think there are five or six solutions i think that is one my point is never been that i love the deduction would i get rid of the deduction so long as my rate came to account for it not everybody in the middle class had an spree of in the-- not everybody had an increase in taxes there are5 3 replicans in high tax states new jsey new york california illois think youre going to ve trouble getting themn r of the deduction cpletely i
ink compromise for those below a million dollars keep deduction or part of it maybe 7 points of it instead of full 12 if new york or california all kinds of compromises to me not so much which solution it is you don't have a significant number of middle class folks getting a tax increase i think going to kim the detail. >> one hundred percent, talking about biggest tax cut in history yet if you are going to remove that deduction, and you are going to come up with are fourth bracket what about that for minister you a mill on airz higher taxes disagreed. >> most conservatives i would like to see everybody get a tax cut including wealthy. >> not happening senator this idea not cutting taxes on rich tab biowill you explain where the idea of trickle down economics has gone, for years i have been hearing make it attractive for highest
earnings job creators to reinvest what happened to that notion. >> i think this is true of obamacare debate also you have republicans insufficient confidence in capitalism capitalism allows people to become very wealthy they pay a lot in taxes top 1% a third of income tax, top 25% pay almost 90% income tax, so if you take this class warfare say not cutting on those sufficiently you would be the cut tags that is where all taxes are paid aim believer cut top rate all for cutting top rate also making sure we've got the middle rate you can't just cut top rate not cut middle rate you have to protect mil income people there is a lot of us i think you have to do something there the president assured me he is going to do it. as long as we get that problem fixed in the bill i am all-in. >> he can't lose your vote you need as many republicans as possible are you counting this all republicans or do you
think you will get a due process dems in there to vote for this tax bill. >> i think possibility for a couple dems four or five did democrats in states president trump won 20, 0, 40 points i think they have to be conscious of o pogue president on everything tax cuts generally good for economy an amean i'm growing economy for last 8 years i think we will get -- when reagan had significant tax cuts we had 7% nominal growth in a year i think you can get at least 3 or 4 if we have a distant tax cut. >> i remember that 1984, you had gdp 7.3%, senator thanks for leadership on all above good to talk with you sir thank you so much senator rand paul, coming up up california in flames the story getting worse 31 people have died, hundreds of others are still missing it is now deadliest week for wildfires in california history firefighters are struggling to get a handle on rageing infernos, protests rage on in nfl coal miner reminds
on routine patrol came under fire a shoot-out ensued the suspect was hit -- eventually was treated in local hospital arrested no other officers wounded in this attack. >> detailed california wildfires delays and cancellations more than 100 flights canceled at san francisco international yesterday nearly 600 delays 8 flights cans they would morning at sonoma county airport four flights canceled today, this is now deadliest week in history, 31 death stole in northern california since burning, since sunday, more than 2800 homes destroyed in the city of santa rosa alone. well headlines this morning american woman canadian husband in three children have now left pakistan, after being rescued from taliban group
family held by group five years pakistan says its military rescued family after group moved them across the border from afghanistan pakistani officials have not said where the family was headed. >> finally check out this very patriotic coal miner. >> o'er the land of the free ♪ and the home of the brave ♪ cheryl: that is west virginia coal miner josh showers singing senior star-spangled banner as they headed underground a regular day at work that is what they are doing. >> i was getting the chills when he was singing i thought wonderful. >> sing at world certify reese how cool would that be.
you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com. maria: we'll back, president trump expected to announces the stated of the iran nuclear deal in speech today, the president has previously called the object era deal
incompetent. >> good morning. reporter: the president later this morning, will make statements about the deal, but although not going to certify as the president is required to do every 90 day under accord not going to certify it united states is not pulling out of the deal, in fact, the accord will remain intact up to congress, to consider what to do next they have roughly 60 day timeline to do that i want to read a statement to you, that the white house put out in regards to this, the president said it is time for the entire world to join us in demanding that iran's government and its pursuit of death and destruction president asking congress to consider a kind of renegotiation of the deal, would include trigger points to decertify or pull out of accord as iran ramping being about ballistic missile program removing constraints
on nuclear fuel production what the president said speaking to sean hannity about the moment we are now at. >> it was an incompetent deal very bad deal image not saying anything different tonight than i have been saying for two years it is a horrible, horrible embarrassment to our country. and did it out of weakness what actual we had great strength. >> so last thing the president calling on congress, to come up with a new strategy, as the president has outlined, which focuses on neutralizeing iranian government influence constraining aggression plashl support for terrorism and militants. >> if you are keeping score we do not leave the accord but it is up to congress, within next 60 days, to determine what to do next. back to you. maria: adam shapiro there one question coming to up me i wondered how you feel about it if u.s. were to redo sanctions
against iran, as a result of this noncompliance, or you know decertification, what does that mean for other countries we are one of five other countries here so does it really matter if the u.s. does anything here what can the president do to move the needle on theiran nuclear deal. >> it is not clear what is going to happen, nonhow countries react i see small steps i am not going to certify it but i am also going to push to congresss might not do anything creates environment maybe start to see how other countries could react for instance if we don't certify, so i see him can i have moving incrementally to create space maybe for something else. dagen: a political move he acts and puts burden on congress, as you said earlier, about daca about this about -- health care, he removing subsidies saying to congress what are you going to do.
>> the voters when something negative voters blame congress they are not he blaming the president good strategy there seems working coming up the wall street rally no signs of slowing down marketing will not quit i will talk to bond king who was one of the first to prik donald trump would win white house ceo on whether market has legs how to allocate capital in this environment. >> true store. dagen: behind "winnie-the-pooh" we will have preview of good-bye christopher robin back in a moment. ♪ ♪ [vo] the grille is distinctive. but it's usually seen from the rear. the 2018 audi q5 is here.
listen up, heart disease. you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies, and data without insights. and fragmented care, stop getting in the way of patient recovery and pay attention. every single one of you is on our list. at optum, we're partnering across the health system to tackle its biggest challenges. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
and at $4.95, you can trade with a clear advantage. intelligent technology can help protect it. the 2018 audi q5 is here. maria: welcome back. good friday morning thanks so much for joining us in morning, happy friday the 13th friday, october 13 i am maria bartiromo your top stories are in our 8:30 a.m. on the east coast. bank earnings in spotlight on wall street wells fargo a adjusted earnings beat expectations revenue missed as a result company struggling to recovery from phony account scandal down 2% on the other side bank of america jumping beating estimates on bop and bottom lines up 1%, that is off highs of the morning i point out broader markets good
futures gain opening of trading about highs of the morning, dow industrials up 31 points right now nasdaq s&p 500 higher, we have been watching stocks move up, creep up all morning actually, in europe, this morning major averages mixed down 10 points, cac quarante. dax are up fractionally, asia overnight markets closed most higher nikkei average win in japan up almost 1% cashing in on catastrophe fbi opens investigation into claims of corruption against puerto rican officials territory strenuously to recovery in wake of hurricane maria. >> amazon into a hollywood sexual harassment scheme head of amazon studios facing accusations amid reports harvey weinstein contract allowed enhancement to happen details ahead looking at legal implications, friday 13th can
mean one thing a boo at box office preview of horror movie happy death day trying to scare up a win this weekend we tell you about it, first latest on puerto rico right now, president trump tweeted this earlier writing the wonderful people of puerto rico, with unmatched spirit know how bad things were before the hurricane, i will always be with them, this coming after president tweeted on fema said this yesterday writing, we cannot keep fema military first responders amazing under difficult circumstances in puerto rico forever, joining us right now is pepsi ceo jorge rodriguez, thank you very much for coming back we have been watching the developments through you, we appreciate your joining us, what is your reaction to the president's tweet can't keep first responders there forever. >> well, i think i agree with the that we are pnance, 40, 50
years -- and always made the point, we need to raise ourselves, only with -- you know, in the world, just like -- our exports are -- we really don't we are not going to get to i call it a -- a washing machine where we get all then we move it around, 3, 4%, two, to three, we have two economies where is bredown ppening jorg fbi oking into allegations th localbout officialsre withholding splups from fema fema trying to deliver them fbi received numerous reports
from puerto rican residents local staffers are distributing goods among themselves before to the struggling puerto rican citizens anyone found guilty would be 20 years behind bars. >> why do you they breakdown is happening. >>. on the phone: now i have to say i told you so. i knew this -- for 40 years -- the government -- you know, but we have -- when he wanted his father indicted, men communist and -- 40 so every administration we get this, and then when you fix
corruption handling you are going to get -- not getting to people of puerto rico that is why we have -- that is what. maria: jorge thank you for update we appreciate it and, of course, we are thinking of you sending our best in recovery joining us right now breaking news, can you say inflation? saept retail sales s consumer price index out cpi was better than expectations, i don't know if good news cpi up 5/10 of a percent estimate called for 2/10 of a percent retail sales a miss definitely bad news estimate 1.7%, gain in retail sales for september 1.6%, now for the month september, you got weaker than expected retail sales the consumers not spending as much as you thought higher prices this is also hurricane related, much issues gasoline
prices due to hurricane. >> i would like to health the fact that the cpi number we were expecting a high 1.5 we talked about commodities prices going up one of the most important takeaways from it ethylene from oil used in creating diapers, cars paint mattresses more than half u.s. production was knocked out due to harvey you saw price of ethylene go up you need manufacturers to buy consistently to produce goods .5 number not surprising, it is aberration a one-off should not impact the fed and the rate hike in december. >> like september jobs number you are so much noise there hard to build a trend on this i agree not going to affect the december. maria: i am concerned about territorial sales an economy not showing overall vibrancy two steps a forward one step back we will talk more about it in fact i spoke with the founder ceo double line
capital ceo jeffrey, now we want to bring exclusive he is called bond king one of the first to predict donald trump would become president i sat down with him and first asked whether or not we are post trump market bubble listen. >> there is a lot of answering th anticipation the weaker dollar sensible in helping like s&p 500 dollar down 10%, and it was getting the kind of difficult dollar rallied from 2014, 2015, 2016 that helped valuation of the market is high, you can sort of get down with it, if you have zero interest rates you have for a number of years that is not there anymore, you interest rates have been rising fed wants to raise rates again three times, next year, that
is the plan, coincident -- quantitative easing. >> quantity at a timeive tightening, letting bonds mature borrow money from the budget deficits from 11 to 14. maria: incredible unwinding of balance sheet how is that -- >> they are willing to let 30 billion treasurys roll off per men and women some months aren't that many less than 360 billion a year for treasurys still a couple hundred billion significant budget deficit could go up. where tax plan probably not revenue neutral if you cut taxes a tax plan your assumption, 3, or 4 pers economic growth balances to be non. >> that growth is a big if, i don't think math works against 4% economic growth probably get to 3 for some period of
time if you got lucky, but. maria: you don't see 4% next couple years. >> a quarter maybe no you are not going to get i don't think a 4% real. and also, insulat he slated to expand not like it was past 4 or 5 years deficit let me talk about deficit -- whether all worried 2011 government shut down can't get a budget greece is clapping gdp going to be the end of us, well, that is become a side bar story, because the deficit was stable all those years starting to get into compounding curve again about about medicare medicaid social security. >> nobody thought about fact programs going sfwleek could under wrong circumstances deficit could get up top 6, 8 percent gdp again case maybe we have a recession, effects
five years, wouldn't be that strange, it has been, 8 years -- so far. >> maybe we see beginning of a recession second half of 18. >> right now i can't find a recession anywhere, leading indicators unemployment low optimism high. >> thoeb 2017. >> about disability on indicators not more than six months things can change pretty dramatically, over even a 3 or 4-month period so with the fed tightening, if they get into mode where they keep doing it unless data gets worse, by the time the data does get worse, it will be like -- >> blew. >> it too late. >> blew it again. >> yeah, so that risk. >> how do allocate capital with unknowns tell us how you want to position funds. >> well, we start with bonds, we are we have been defensive on bonds since 2% on 10 year treasury thought environment seemed similar to july 2016 -- down to 132, narrative was
rates will never rise again in my lifetime, never. never means -- >> i remember that. >> and i think, rates rising begrudgingly later i think we could see another leg up in yields we want to be defensive there i think there is a great overbelief in junky credit, because it is done well almost classic things people love buying high, huge -- >> well. >> housing better than seven -- >> and 2007 worse market time with clients called us up saying wanted nothing but leverage up junkie credit, double b junk bonds in europe index same as u.s. treasury market. >> i didn't know that. >> hard to believe. >> about 2%. so that tells that you something is very, very
stree strange, i vastly prefer to play currencies i think dollars up short term. >> long term down. >> next big move i think down because the fed the -- expectations fed is going to get up to 3%, on a fed funds rate by 2019 i think that expectation is going to be dashed when expectations for fed out two or three years get easier the dollar tends to go down. >> is there anything you would buy in equities? have. >> i like non-u.s. equities much better than u.s. equities we have been positioned much more heavily than we are in average non-u.s. equities particularly emerging markets not big fan of china, just i don't hate it, the bear case sounds terribly convincing sounded great five years ago wait for something to change i really like from a really
substantial permanent portfolio i like india etf imda, recommending for a while super well i don't love trade location after done well you got to see big picture a 30 year type of a investment theme opening, i think gdp will grow 10x. >> thanks to jeffrey catch more of conversation tonight on wall street week tonight 8:00 pm eastern for exclusive show airs throughout the weekend quick -- >> real quick i love jeffrey i follow him but the fed is not quantitative tightening they are quantitative easing, they are purchasing in opening market. >> we will see about that hollywood sexual harassment scandal has widened reports harvey weinstein's contract allowed for sexual harassment to happen so long as he pays for it we talk to a lawyer about shocking claim bank
earnings on focus sliding down almost 3%, company struggling to recover from phony account skeenl back in a minute right after this. we're attracting the world's best talent to central new york. and turning the airport into a first-class transportation hub. all while growing urban areas into vibrant places to live and work. across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov.
maria: welcome back, bank earnings driving action on wall street he bank of america wells fargo this morning nicole petallides on floor, bank stocks running up ahead of numbers. >> that is right good morning, maria right now bank of america off earlier highs a gain beat both top and bottom line revenue 22.08 billion that was beat for joufd revenue big picture doing better on higher earnings 15% rise quality of profits feeling optimistic about economy turning as well, higher rates story fed is pricing it about fed funds futures about 88% chance of right hike in december. taking a look quickly at wells
fargo this one under pressure weaker earnings coming off trying to get out of their account fraud, sales taxing scandal weaker orientations down 2.2% the bank of america had issues with fixed income tax like j.p. morgan citi did watch for morgan stanley, goldman sachs on tuesday. maria: thank you so much watching that, nicole at any the floor we will get back to you throughout the day, more hollywood fallout in wake of the harvey weinstein sexual harassment and assault aelths amazon president chief roy price suspended after producer wore a company show says price repeatedly propositioned her at company party in 2015. allegations as, a lashed out at ceo of amazon jeff bezos in series of tweets claims the studio ignored her claims of harvey weinstein raped her tmz
reported yesterday that harvey weinstein employment contract he go protected him from sexual harassment lawsuits to keep his job weinstein would have to pay the company back, any money that was paid out to victims, and pay a fine. ment ranging from 250,000 dollars, for first offense up to a million for multiple instances joining us right now attorney general and author an yell mclauchlin thanks for joining us the idiotic clause is this? >> i say curious what company was trying to o do inoculate from money damages that might arise from sexual harassment one thing important to understand here is that these companies under california law new york law strictly liable for sexual assault, doesn't matter whether they bought affairs covering up or considered predatory other on hook trialing to make sure if sued harvey would pay back, he
would pay 250, 500 insulating it is unusual. >> just to have a clause basically tells you we expecting sexual harassment. >> it is that they have a concern, there is a risk that they are assigning monetary value to making sure that they will be inoculated from paying damages for his behavior. >> evidence maybe not everybody knew but people around harvey weinstein who had any interaction with him male or female knew what he was up to joke about casting couch in hollywood isn't that surprising what i think we are seeing ground as well of women afraid to come forward because of the power, and the impersonate their livelihoods -- maybe a game-changer. >> we will watch, thank you, breaking news, republican senator susan collins will not run for maine governor will
stay in the senate where a swing vote on key issues health care and tax reform, so we know she will not run for maine governor, back in a minute. you won't see these folks at the post office. they have businesses to run. they have passions to pursue. how do they avoid trips to the post office? stamps.com mail letters, ship packages, all the services of the post office right on your computer. get a 4 week trial, plus $100 in extras
including postage and a digital scale. go to stamps.com/tv and never go to the post office again. or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com.
news michael -- you liked it. >> scary. >> has such a roll between get out when huge, make for 5 million dollars could go on to earn about 30 million dollars at box office. >> great business model. ♪ really nice, ♪ shall we go for a walk. love this movie. >> thank you. >> there was a lot going on, this couple who were the perfect children's book, the relationship with children typical you think of winnie the apple a safe place -- "winnie-the-pooh" to have you create traumatic place
himself. >> that walk. >> what do i do in the back you are doing what you are good at. >> all very heavy thooepz that a light touch, and respectfully never heavy-handeded -- you your character was like one direction harry potter all that into one. >> what was it like to play this? >> it was quite hard actually, because -- really smart, and that from is playing with him, he has to be he has to know what he can push. ♪ looks good. >> inspiration behind way the stories about real life challenging relationship with his son actually christopher
robin i love playing with most famous kid, look at this. >> good-bye christopher robbins a family film. >> for adults 1/2 topic, suffers from ptsd a challenge with kid all about that how he really some you put all he put all stuff talent into characters of "winnie-the-pooh." >> i am not a scary movie girl i think would rather see this have an happy death day. >> i think a good call. >> you got me. >> good call. >> good to see you, stay with us right back with final thoughts from this all-star panel. ♪
maria: all right, final thoughts from the all-star panel. brian brendberg. >> two days on executive in health care. the president wants legislation and putting it to congress right now, democrats, republicans, i want to work with somebody on this. maria: sure is. kevin: sector correlation at eight-year low. so this is a pick and choose market, banks can work, techs can work, you have to figure out where you want to pick and choose. dagen: reiterate news u susan collins will stay in the senate where she will do nothing.
kevin: tonight "wall street week". maria: dagen, kevin, brian. wall street tonight 8:00 p.m. eastern and i will see you on sunday morning, fox news channel and we will see dagen and bulls and bears. charles payne in for stuart. charles: thank you, maria. stuart is off today. we have a lot of big stories beginning with president trump. he continues to unwind obamacare now going after subsidies and health insurers and billions of dollars that help pay for coverage for the sick and the poor, the left as you can imagine, is deceiving. the president expected to say that iran is not cooperating. he's going leave it to congress whether to uphold the deal or not. corporate news, scandal of amazon ahead of studio division, the man in charge of amazon original content suspended over allegations he made, lewd comments and advances toward a