tv Mornings With Maria Bartiromo FOX Business March 5, 2018 6:00am-9:00am EST
more people working in steel consuming industries than steel producing. the important fact is how trivial these event fired -- amounts are relative to their business. that's the proper measures. maria: trade debate driving stocks lower. dow industrial close to read for the fourth day in a row on friday that the longest losing streak in five months. dow industrials down 71 points. take a look at a bit of a bounce after the start of trading this morning. the future is bright showing a gain of 11 on the dow, 22 on the nasdaq. markets are higher this morning watching the election in italy and results they are yet get to show a clear winner but the populist party looks to gain significant ground. in a shed, stocks mostly lower. the chinese government laid out plans for economic growth setting the target is 655% growth for the year. the details as they agree to
acquire exile group for over $15 billion. united airlines grounding quarterly bonuses. the airlines plan to institute a lottery. from first-time winners to jet skis, a wild night at the academy awards last night. it did not come without controversy despite calling for a positive night. jimmy kimmel and other a-list is taking that president trump once again. double standard at the oscars coming up again. driven me to talk about it, fox business network dagen mcdowell. global economics editor jon hilsenrath in the president of miss lansky and partners lee carter. great to see you. >> good morning. dagen: good morning. did you stay up and watch it all? maria: i didn't watch it all. as soon as they got into the dreamers and that was it for me. dagen: there is even more hypocrisy, but i'll save it until later in the morning. there was some glaring, glaring
hypocritical moments during the telecast. >> kobe bryant winning? dagen: about the head of planned parenthood on the stage and the parents dropping about gun control, the nra. who thought that was a good idea? so much to talk about. and the winners in the fashion. >> i didn't see a single minute of it so i'm interested to hear. i was on the train. i didn't know until this morning who won the thing. maria: outcome would've got all that coming up. talking about a lot more. roger ferguson is with us this morning. former vice chairman of the federal reserve, plus the chairman and former ceo nick donald natalie -- ed renzi is with us this morning. the heritage foundation and now
investigates on crt.com michelle malkin as well. judicial analyst judge andrew napolitano is here. a big show coming up this morning. we take it off right now with president trump doubling down when he begins retaliation for the european union. the president treated this thread over the weekend. if they want to further increase their massive tariffs on the u.s. companies doing business there, we will simply apply a tax on their cars, which really pour into the united states. they make it impossible to sell there. wilbur ross told me yesterday on "sunday morning futures" about that when i brought a potential retaliation from abroad. >> i think what the president was saying is that because we have a big deficit in the other side had big games through trade, they have much more to
lose in the period that we do. i don't think the retaliation is likely to be on steel as such. if it does find anything, there will be some product in a key state to try to get mitch mcconnell or paul ryan feeling some pressure. tragic jon hilsenrath, jon hilsenrath, this is the big debate story on friday over the weekend was e.u. coming out and saying we will put tariffs on the road in place. >> your interview was really interesting because these are doing everybody calm down. this is a big deal. $3 billion in tariffs from the e.u. on things like harley davidson motorcycles. but the president is saying this is a big deal. it will change trade for the whole world that will finally start winning. there's a disconnect between what the commerce secretary is
saying. what really matters is what happens with prices. a lot of talk about being small in amount. our bill is going to go up for cars and washing machines. tree into a discussed this on friday after that journal op-ed where they let trumps terror folly. wilbur ross basically said these are very insignificant price increases. we talked about the idea of a case of. this is not one case being consumed a year. but even he said cars are not seeing any significant as the journal has worried about. dagen: i treated this on friday. i think that's a ruse, a distraction away from the potentially credibly destruct the impact of tariff on alumina and steal because it's not just about raising prices. by the way, this could jeopardize many more jobs than it would ever save but it's
about the retaliation from nations with whom we trade. again, they're playing despite these tariffs on nations that are our allies that we need in terms of national security. i will point out a couple of things because secretary rawson also peter navarro were on tv all weekend as well and this is a drop in the bucket compared to our overall economy. it's only $9 billion in total tariff value. do the math on that. that is essentially paid 5 million to $6 million per steel job. how does that math work out? to the white house, when you have larry kudlow, art laffer in stephen moore, critical economic advisers to this president's progrowth agenda coming out in the hill over the weekend and telling him what a bad idea this
is. >> not only banned, but it's interesting who we didn't see this weekend talking about the tariffs. we didn't see his top economic adviser and we didn't see steve mnuchin talking about it and defending it. dagen: secretary of defense james mattis, reports that he's very upset about this because you are slapping a tariff on south korean steel. though again, it is more than just your six pack of beer is going up in your can of soup and in terms of messaging, i don't know who orchestrated that. that did not look good last week. >> the message it is really tough, especially for those really familiar with the issue. that said, a lot of americans in the state that voted for him, here's a story about trade and they are excited about it. they are saving jobs, going to make things fair again, making things right again. i don't know why they're so
surprised the president is doing it because he's going to do it. my question is this another one of the presidents negotiating strategies, which is less or something out there, create a lot of chaos, conversation and it gets rolled back. dagen: there was a headline yesterday. i couldn't find anything, saying china's cutting import tariffs for vehicles as well as consumer goods. i am wondering if this is already stoking changes coming out of china just because of a negotiating stance. we cannot rule that out this is playing poker. >> we also had president xi jinping's top economic adviser in washington last week trying to attack the president talk the president in the white house back from taking depth like this. this has gotten the attention of the chinese. they have the most to lose. maria: do think they're cutting import tariffs on vehicles and consumer goods as a result of
this? dagen: could be for everybody that the united states. let's wait and see. maria: to underline this point, navarro and wilbur ross saying there won't be any exemptions. maybe some countries would be exempt from some of this. >> some of the challenges that this will do is we don't report a lot directly anymore because we have impose duties on our chinese imports. we get most of our steel from china. i'm sorry, from canada. are we going to actually be hitting the culprit in this global steel by doing this? europe say e-mail. dagen: we are hurting our greatest economic ally. in canada you are doing abroad these tariffs. maria: talks are continuing right now. >> this deal that isn't going to get dumped in the u.s. is instead dumped on them. they've been fighting really hard to get us to work with them to do something to team up on
china. >> kudlow, laffer and more should examine the historical record on tariffs because they've almost never work as intended and may go through smoot-hawley tariffs in 1929 that drove us into the great depression. the stagflation in the 70s because the import surcharge put on by richard nixon. george bush again destroyed more jobs at this 2002 steel tariff that existed in the steel industry at that time. by the way, lee, ohio, michigan, pennsylvania. those were the states during the 2002 steel tariffs hardest hit by the job losses in other injuries. not steel, but the industries you steel. >> as they might relate today, president bush reverse than a year later. maria: that's a good point. you mentioned china. now say a 6.5%. compare that to what is happening here about 3% down
from the growth rate of 6.9% last year, but 6% is a serious number. >> so march of 2018. here's a prediction i can make for a headline. in december this year or january, the chinese will say their growth was six-foot 7%. they say this is utter growth is going to be and we end up getting. partly because of the numbers, but they will do anything to reach their targets. you make a lot of mistakes when they point out all the stock. piling up a lot of dead to keep the economy growing. maria: acts i will expire xl group. we were expecting deals to pick out. this is specific to the insurance business. dagen: i think this is a sign of things to come in other
industries. in terms of the deals you're seeing? maria: a lot for attacks on balance. >> merger mondays. our reporters are busy trying to type these things down and as long as interest rates are as low as they are, we'll keep having these. >> what does this mean going into the changes we are expecting out of dodd-frank? the changes would not have impacted that. but are you expect in specific dramatic changes for the legislation? the president told me he's working on that. >> that's a really good question. one of the things that hasn't been happening because of the implementation is the site and financial regulators haven't been allowing banks to merge. as regulation we might start seeing more. maria: they won't be able to go beyond their deposit limit. that aside. >> regulators having a lot of the banks to grow it all through acquisition and maybe we'll see them using up some.
maria: when we come back from united airlines are facing bonuses at the lottery. the reported plan raising more than a few eyebrows this morning. hollywood's latest washington slam. illegal immigration is the award shows take a political tone from the very start. back in a minute. ♪ ♪ hey, sir lose-a-lot! thou hast the patchy beard of a pre-pubescent squire! thy armor was forged by a feeble-fingered peasant woman... your mom! as long as hecklers love to heckle, you can count on geico saving folks money. boring! fifteen minutes could save you fifteen percent or more on car insurance.
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maria: isis releasing a propaganda video in nature showing u.s. troops. >> at monday morning commemorative. releasing part of the video from a helmet, one by one of the u.s. soldiers killed the ambush. this attack happens in october. targeted group of 10 americans and 30 local soldiers. there they are died in that attack. currently 800 u.s. military personnel stationed in nature to train local troops. the u.s. embassy in turkey shutting down today over security threats. officials warning them shoot avoid, stay away from large crowds is to keep a low profile. not clear what the threat was that prompted the closure.
no word on when the embassy will reopen. how about this. united airlines replacing quarterly bonuses for its workers put the lottery system. if you win the lotto, you can get prizes that include cash, cars, vacations and one lucky employee gets a $100,000 bonus each quarter. employees at the company are reportedly furious that the bonuses they rely on are being taken away from them. united airlines president says the new system is designed to build excitement and a sense of accomplished man. we are showing your shares down more than 7% in the past. i'd be annoyed if the lazy person in the office when the $100,000 bonus. maria: yeah, me too. it removes the whole idea of you are getting a perk because you worked hard and done a good job. dagen: absolutely. they say this will drum up
excitement. >> you don't know if you're going to miss out or be a part of it. how does the lotto build a sense of accomplishment? maria: it's a fun thing. >> it's not that i worked hard. dagen: given the quality of united as they fire, that to be handing out bonuses or discounts to the fires. maria: what about our lottery? take a break. when we come back, slamming a study by m.i.t. claiming drivers from the ridesharing company make less than $4 an hour. markets this morning look like this: mac 20 points right now. s&p 500 index action. we are watching markets and the reaction of the white house sheds more light on the same tariffs on steel and aluminum. back in a moment right here.
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maria: welcome back to the latest on capitol hill. the fbi and accountability lawmakers calling for a second special counsel to investigate the department of justice and fbi. watch. >> i don't think the inspector general himself can answer all of our questions. some of these witnesses have left the department which means the inspector general does not have jurisdiction. we are trending towards another special counsel. >> this time there's already the investigation open to the trump campaign so it's hard to believe when you have all the people
really are signing up for this investigation how they would not know about the existence of the dossier. that's one of the things we're trying to get to the bottom of. dagen: following explosive release of the pfizer memo calling carter page listing the counter memo tonight and a role the russia probe involved corruption pictures announced at about.com white house correspondent francesca chambers. good to see you. thanks for weighing in. you heard rick trey gowdy said yesterday treading for a second counsel. is that necessary? >> the white house hasn't went that far when i've asked about this in the past. one of the comments of the president's personal lawyers have made about the matter and personal lawyers have suggested there might be a second congressional counsel needed. the white house says that permit taken that position in donald trump is that permit taken that
position if you recall his treat is as when recall his street and says why not use department of justice lawyers to investigate this, but it didn't directly call for an investigation. it will force this issue however back onto the white house to take position. maria: the president was in breach of sessions would be putting it on the ig, inspector general, but also talked about questions surrounding former fbi deputy dirt enter mccain. watch this. >> i want to know everything that happened in 2016 and whether he was leaking for or against a liquid. room for all of us to know. maria: senior executive at the fbi whose wife is running for a senate seat and took $700,000 for a democratic governor. your take, francesca. >> trey gowdy is making a point in the interview, maria, that
some of the people they need to speak to are not within the direct purview, so that's one reason republicans believe there needs to be a second special counsel. at the same time, the question is whether the department of justice is able to investigate itself thoroughly and that's the problem republicans are bringing up at this time which goes back to the president suggesting they should investigate themselves. the two things are at odds with each other. maria: another special counsel brought in, lee carter. >> the american people are so confused everything going on that they don't know how to make heads or tails of all of the facts out there, all of the information of the seaside, she said. hadi simplifies so they can fail at cut to the chase. what is the most important thing to focus on right now? >> admit this point, it is hard to make a determination when you
haven't seen the pfizer memo. the application that they made for the warrant. at this point you have republicans saying one thing in a memo, democrats saying another thing into memos originally classified in the underlying document, besides the warrant is not something we been able to read in full. until we can see that comment if we ever see that it may continue to be a she said, she said situation. maria: the fbi presented the dossier as a reason to wiretap the associate and they admitted the information it was paid for by hillary clinton and the democratic party. >> rebuttal from the democrats for that as well they didn't need to know is specifically paid for by the democratic party. >> the fisa court is to know all of the information relevant because there is no other side
to make a case against the wiretapping. there was a serious mistake. >> it's impossible to know at this point when we haven't seen the underlying document how much they did rely on christopher steel information to get that warrant in the first place. maria: francesca, thanks for weighing in. coming up, crypto tyrants is not in the cabinet well. a new warning about where you buy or sell your digital token. frontier airlines offering flights from less than 30 bucks. back after that. these >> these . .
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we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov. maria: welcome back, good monday morning, thank you so much for joining us. i'm maria bartiromo, it is monday march fifth, your top stories right now 6:30 a.m. on the east coast. markets looking to bounce back this morning, stabilization going on despite tough week last week. dow industrials although now at the lows of the morning, down 30 points. the s&p 500 is down a fraction and nasdaq composite is up, it's up about 8 points after friday's decline. on friday the dow closed down 70 points that was well off of the lows of the nearly 400 point sell off earlier in the day. s&p and nasdaq also bounced at
the close. in europe markets are reacting to votes in germany and italy this morning, no clear winner emerged in italy so far and angela merkel securing fourth term as german chancellor, as you see markets are up across the board. in asia, worst performer hong kong, hang seng down 2 and a quarter percent. volatility of bitcoin not the only concern for investors, another growing issue where people are buying the crypto currencies, we will tell you about i. the ceo of uber is fighting back this morning, why he calls mit study over driver pay incompetence and scoring airline tickets for $20, frontier is offering deep discounts but time is running out. we have it all right here. you at first do not succeed, try, try again. >> and the oscar goes to -- [laughter] >> the shape of water.
maria: giving the oscar for best picture to correct film this year but politics and hot button issues took center stage last night at hollywood's big night, all of the highlights and low lights from hollywood's big e night the oscars, first top story of the half an hour, investors are bracing for roller coaster week, futures volatile this morning, deal on the books, we have markets at the lows right now, down 40 points on the dow jones industrial average and, of course, new worries over trade after the dow closed down for a fourth session in a row on friday amid fears over the trade new tariffs, joining us this morning tiger 21 chairman michael, thank you for joining . >> thanks very having me. maria: how worried? >> this time is jobs from technology, computerization, ai, that's where the real job loss is coming from, about 80% of the loss, only 20 per from trade issues so they want to make sure
we are fighting fighting the ri. maria: the president has been saying that he wants to help the steel industry, aluminum industry, that they are faulterring right now but you see it differently and also in the op-ed today from the journal basically saying it is what it is, there's one ceo from a steel company saying don't look to this industry as a job creator. >> well, steel and aluminum have been losing jobs for decades. that's why we've had rounds of tariffs before 2002 by president bush, president carter back in the 1970's, this is really an old story and it's not big or important part of america's industrial base right now, you know, as you say technology is really what's driving american growth. >> yeah, and like avalanche, small amount, they talk about how small the dollars are, but a small pebble can start a big avalanche and that's a trade war that we don't want right now. jon: do you buy this argument, wilbur ross says there is a few billion dollars in tariffs,
tinny part of the overall economy, don't worry about cincinnati. >> i don't buy it at all because one thing can lead to another and right now we have very delicate relationship with china and south korea, we shouldn't be pin-pricking and wondering where -- these are people that we need to be working with closely given what's going on in north korea and elsewhere. jon: what does this mean for markets and investors? was this a one-time selloff or is this the kind of thing that could turn a bull market into something that goes nowhere or down? >> we have a fragile market. it would be foolish to predict where it's going but we know things like this can be like popping a balloon. if you look at fundamentals right now, we were benefiting the tax deduction, everybody on a high with that and so this seems to have popped the balloon dagen: self-inflicted wound in terms of economic policy coming out of the white house.
>> i think so. dagen: a lot of the arguments that you heard from the white house the last several days, they are furious that steel industry last year new core made $1.3 billion profit, you go through these steel companies, again, you're putting at risk 6 and a half million jobs in steel consuming industries in the united states to saves 40 or 150,000 jobs or to preserve them and it's not just about steel, it's how all of these other nations react and when you have the very job creators in this country like the automakers sounding a warning saying, hey, you've been putting pressure on us to bring jobs back here, you just did something that's going to cause us to go and seek cheap steel elsewhere, they are more likely to make cars in another nation and you just handed a victory to foreign automakers. >> yeah. absolutely. maria: are people investing along side these things, what are you seeing in terms of members and how they are moving money right now?
>> most of the members only have 23% in public equities and most of that is etf's precisely because they don't want to be market timers, alphabet, amazon, and facebook, of course, berkshire hathaway, but the point is these are companies that can scale and they are -- these aren't going to be affect bid the steel tariffs, these are technology companies that are scalable without labor. so our members are not market-timers except the few who are real traders, our members are focused on private equity and real estate where they can roll up sleeves and touch and feel the asset and most of those activities are not going to be too affected fbi -- by the ta tariffs. >> what are your members feeling about all of this right now? >> optimism and concern and when
i say that over 70% of assets are in risk equity and assets, real estate public equity, over 70% so they are optimistic about the long-term fundamentals, we have such strength in this country, our legal system, our transportation network, our energy complex, all gives us a real tail win for success so the last thing we want to see screwed up by something that unintentionally escalates, it's t no the 9 billion-dollars that secretary ros is talking about, it's what the reaction maybe in going to other sectors that could harm. dagen: again, i said this earlier, 5 to $6 million per steel job when you do the 9 billion math, how about every other workers, millions of workers, where is my pay-out to rescue my job? [laughter] jon: why do you call them members and not investors. maria: explain tiger 21.
>> if you think of football, basketball, 1 and 17,000 people, our members are 1 to 10,000 and 1 in a 100,000 globally of entrepreneurs that have created great wealth. members come together every month in private settings that allow them to discuss just what we are talking about but in a totally confidential setting and we bring in the world's best experts, we just had annual conference, condalezza rice was there and becoming wealth preservers and wealth managers. maria: what are they saying about the crypto crazy, even the markets where you buy digital coins are posing a risk according to wall street journal investors lost 1 and a half million dollars after two major hacks. >> yeah. >> bitcoin is big topic for your members, right?
>> it is, but if you look at the auto industry there are 100 auto industries that got consolidated, the volatility in bitcoin, this is a bold new beginning, bitcoin, block chain and all the other crypto currencies. last week jpmorgan acknowledged that bitcoin and block chain could have a material impact on the future business, it's going to change the world of finance, our members are looking not just at bitcoin, the volatility is evident of the new market coming to being, this is going to change the way business -- jon: leading entrepreneurs and people who started businesses who are saying, yeah, this is real, jamie dimon is wrong, this isn't a fad or crazy. maria: he said he was wrong as well. >> if you were in venezuela or other country, bitcoin would be more important to you when you're worried about government intervention or controls, if there's a currency that can go
past all of that, that's going to change the world. maria: all right, we will leave it there. michael, we will be watching that. coming up, uber comes out swipging after study by mit claims drivers for ride-sharing company make less than $4 an hour, the oscars take aim at the president and policies, the highlights and the low lights from oscar night next oh good, you're awake! finally. you're still here? come on, denise. we're voya! we stay with you to and through retirement... with solutions to help provide income throughout. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. oh. so, that means no breakfast?
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seeking momentum after olympics, after the meeting they will fly to washington, d.c. to consult with the trump administration. saudi crown prince mohamed now on his three-nation tour to woo foreign leaders, visiting cairo, 10 million-dollar joint fund to develop a mega city in the south sinai, the crown prince modern i arabia. >> we want to live a normal life, a life that translates our moderate religion, good customs and we coexist and live with the world. lauren: he's also travel to go london as well as new york hope to go prez credentials on a global stage. weekend of numbers crunching, massachusetts institute of technology is redoing a study on how much uber and lyft drivers actually earn.
their report last month found that nearly 3 quarters of the drivers are in less than minimum wage. we are talking about 3.37 an hour and that many of them actually lose money. uber ceo lashed out at the methodology, he called the researchers incompetent forcing mit to redo its math. anyone who wants to book cheap get away, better hurry up, this spring, this is what you need to know, the sale ends tonight at midnight, these are one-way flights only good for tuesday and wednesday, but look, other flights for other days, they start at $39, where can you go, denver, atlanta, cincinnati, some of the destinations on the list. maria: denver.
lauren: maybe. atlanta, maybe. maria: good prices meanwhile the crown prince of saudi arabia making this world tour, dagen, what's your take on this? saudi is opening up, they say? >> it goes back to your interview that you did with the next king of saudi arabia that it was just such an incredible display of openness in terms of how he expressed himself, his views about the future of saudi arabia and place in the world stage, it was incredible. maria: big changes. dagen: goes back to you being there on the ground when it happened and happened with you, really incredible. maria: it was, i was struck, the story of the security guard coming over to me, my mother was crying all night and went viral in saudi but the world to see the changes coming out of saudi arabia right now, they have to make change, look where oil is, they can't no longer rely on oil revenue in the past, they need to diversify own economy and
with that comes foreign capital, we will see if it works. jon: young population, they have to diversify in order to give people a future. maria: such a good point, jon, 70% of the people in saudi arabia are under 30 year's old. get them now or, you know, in some cases you lose them if a terrorist mentality overtakes them, young people that can go one of two ways. jon: as we have seen in places like china and russia, it's hard to open up and become a more open democratic society and a more open economy, so this isn't an easy challenge. maria: at -- not at all. many historic moments during oscars and we have all the highlights right after this.
>> stunning new lupita was born in méxico and raised in kenya, let the president's tweet storming from toilet begin. maria: that was the host of the oscars jimmy kimmel, he mock it is president as politics took center stage on hollywood's biggest night, joining us right now on oscar top moments in the fox studio michael tamara. >> hello, maria. maria: what did you make of
kimmel taking a jab at the president, what it what you expected, your take aways? >> no, i'm angry at jimmy kimmel because he promised a nonpolitical oscar this year and he did the complete opposite. at one point he went on the say only two of the best pictures made more than $100 million and that's not the point, we don't make films for money, we make them to upset mike pence, well, you know what, i'm sure a lot of studio executives out here and shareholders who disagree especially after the worst summer box office in over 25 years, you know, there was an attempt last night, if you look at the production value of the opening number and then the sets and bringing out of some of the legends like rita moreno, an amendment to remind audiences around the world and in america of what they love most about hollywood, but quickly forgotten with every speech last night. maria: somebody needs to remind hollywood that the country doesn't necessarily agree with them. they have all of these
expectations and they just speak as if everybody agrees with everything they say because they are so self-informed. >> you know, we have seen politics, it's the merging of politics and pop culture, actors are now activists and i don't see it changing any time soon. it will at one point as audiences turn off the oscars and don't go to the movies. it'll have to change at some point. lee: i think they tried to make subtle changes but they couldn't stick with the plot. when jimmy kimmel was talking -- he was making fun of how out of touch they were, 45,000 cristals and the whole joke he tried to make, they did salute the military, they tried to get things to get in touch with people, go visit the average people across the street in the movie threater, do you think that came through at all? >> there are so many issues and so many causes that they were addressing last night, it's starting to take -- it's hard to keep up with it all.
at one point in the red carpet everyone had awry bonn, lapel pin for something different and i asked one actor, what was -- what did it mean? it's a david. [laughter] maria: didn't mean anything. >> it looked good. dagen: michael, i can never get over the fact, it's dagen, watching all of the celebrities, it's like they are insulated that i heard a very progressive podcast show host say over this weekend that when it comes to hollywood, it's all the -- like overly groomed toy dogs tat dog park just sniffing themselves and they have no concept of -- [laughter] dagen: i'm putting that delicately because it's 6:54 in
the morning. >> it's 3:00 in the morning for me, dagen, thanks. dagen: like in the dog pen, the dog park stoght smelling themselves. maria: and they addressed the big political debates to have year. listen to this on immigration. >> and like everyone in this room and everyone watching at home, we are dreamers, dreams are the foundation of hollywood and dreams are the foundation of america. >> and to all the dreamers out there, we stand with you. [cheers and applause] maria: so that's when i turned it off because they didn't acknowledge the fact that we are all dreamers. >> you know, maria, a lot of people turned off the show last night. last year was the worst ratings for an oscar telecast in over a decade. i can't wait to see what the numbers are like this year, dagen, you make a great point. i asked a lot of stars yesterday on the red carpet, how do they
feel about using their celebrity for political causes and none of them had a issue with it. they have not been held to account at this point. they really do sort of live in a -- in insulated bubble. dagen: you know what did win last night is the documentary -- maria: i knew you were going to bring that up today. i saw that. dagen: huge win. in terms of politics, that's how you make change if you're in hollywood, documentary that exposes basically that russia doped the entire xochi olympics. >> that was a big win last night and shape of water, won the most nominations and came up with top prize for best picture. maria: what were you going to say? jon: i want to know why ratings have been so soft and what are they doing to change it? >> you know, look, sunday night, you're asking people to sit for
three and a half hours, four-hour show and they insult half of the country in the process. i mean, that's sort of a tough ask to make of people, you know, the first oscars was in 1929, they gave out 15 statutes in 15 minutes. there's got to be a compromise between that first telecast and what we saw last night. maria: yeah, good point. michael, hopefully it was funnyway, for you. >> it's always fun. [laughter] maria: see you when you get back. michael. >> fun to be with you, maria. maria: always, i will see you later michael tamaro joining us there. stay with us. but how to set up a limited liability company... what's that mean? not so much. so he turned to his friends at legalzoom. yup! they hooked me up. .. ..
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2 dogs and jake over here? that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management. that monday morning welcome back everybody. thank you so much for joining us. to top stories right now 7:00 a.m. on the east coast. administration officials are five back. wilbur ross address the criticism with me on sunday morning futures. europe has announced some retaliations in the three million dollars worth of product. a tiny fraction of 1%. it may be painful for those particular companies. they are driving stocks lower for the week.
it is a longest losing streak in about five months. this morning futures indicate we will see the selling continue. dow industrials down to 60 points. that's one quarter of 1%. initial results. the german dax index is up. in asia overnight. the economic growth target at six and a half percent for 200018. the composite was up a fraction breaking news right
now. the u.s. and government is ordering qualcomm to delay its shareholder meetings. we want time to review the deal. we will delay that. down to a two thirds percent. the integration out rage. they pleaded guilty to stealing the identity of the u.s. citizens for 37 years the details as he received over $360,000 in benefits from the u.s. government as he may believe he was a citizen after stealing some of identity. they ground quarterly bonuses. youtube makes a scene. it lets users take change the background without a green screen.
happy monday. we get the breaking news right now that's just breaky. another hurdle in the qualcomm deal. in order to have more time to review the author. they are trading down on the news. the move represents an unusual representation. it will delay the proxy fight. it was set to vote on whether to replace six of its directors put forward. the shareholder vote was supposed to happen tomorrow another government stepping in insane hold off. this is a huge deal of the future of technology. it's on the line. hundred $17 billion what was
going to happen wasn't broad, was broad, wants to see six directors on the board. and they get those six directors. the likeliness increases significantly. there are antitrust issues. eat learned of the request last night. it have not disclosed its request and in interactions with qualcomm at all. are you surprised by the government intervention in this. again with this administration. you would think that there are open to dealmaking and free markets. this is a president who cuts across the grain as if seen on the trade. he spoken out against other big deals they are reviewing
the merger qualcomm is based in san diego. with the singapore base. i think it's a hundred 17 billion-dollar take over they are reviewing the merger it is headed by that security department. reviewing foreign acquisitions on national security grounds. that is why they are asking for the shareholder meeting to be delayed. cutting-edge american a technology is on the line. and they're very concerned about china and chinese authorities getting their hands on the cutting edge u.s. technology. and then there is a trait in the tariff. they spoke with president trump this weekend to express
her concern with the new tariffs into the united states. the plan coming up with start --dash mike sharp criticism. he fought back against all of that threat. i'm sure that there will be some kind of retaliations from someone. i don't think the retaliation is likely to be a be unseal as such. it will be some little product in a key state to try to get mitch mcconnell or paul ryan feeling some pressure. i think it will be very targeted. a lot of pushback on this issue. for the foreign policy advisor. good to see. i think you so much for joining the conversation.
two global ceo. some of the very people who have helped him on economic policies i think they are an absolute disaster for the united states. it will start a trade war. i think this is completely the wrong track for the white house to be taking that. it will cost a lot of american jobs. for the stock markets i think it's can be a political impact as well. it's going to result in a major confrontation it's also going to be used as an excuse by european union protectionists implement in more this is going to be gonna be ultimately very bad news
for the united states i do hope the white house is going to back track here and reverse gear. and move away from my would be an extremely dangerous move. i will ask you a question that has been posted on twitter to all of us in the last several days. how does this administration take care of the trade deficit how do we make sure that we as a nation are operating on a fair playing field with all of our trading partners. certainly i think that there is room for improvement with regard to the nafta agreement into the modernization i think ultimately the american in the united states strength is really as a great free trading nation.
the greater level of economic liberty i think the better the deal is for u.s. workers and for u.s. consumers. if they are to retreat into some kind of protectionism we will have an extremely negative impact on the u.s. economy overall. and as they used to say. free trade is really the vital engine of economic prosperity and she greatly believes in economic freedom in america is most prosperous if it advances or protects the principles of economic liberty. >> he is saying he is for free trade he is just for fair trade first. the question which degen poses is whether the administration come back at you the u.s. has been on the losing end and 70 deals what is the u.s. to do.
is it okay in the auto sector that the europeans have 10% tariff these tariff troubles are wayne even on the nafta talks right now. secretary ross weighed waiting on that relationship as well. if it comes to a done deal is very likely to opt for no deal. he doesn't need to take a terrible deal. that terrible deal is how we got here. and then the president tweeted this just a few minutes ago. we have large trade deficits it's under renegotiation right now has been a bad deal. the massive relocation of companies it will only come off if new and fair agreements
are signed. highly restricted. they have not done what needs to be done. millions of people are addicted in dying. this is the first time i've heard the president even open the door to an exemption on canada and mexico he said the tariffs it will not go away and less. he started to open a door if they make changes that maybe they are exempted from these tariffs. i think we've seen some shift in the president's position just this morning and as a positive sign. i think the overall approach in the very idea that you are can protect american workers by implementing protectionist policies i think is very reckless what they had been
over the past 12 months is put forward free markets and solutions for greatly advance the u.s. economy and cutting taxes. this is the way forward. the answer is not for the united states to go down the same root of protectionism i do believe that if the president adapts european union style protectionist policies this is can have very negative impact for the united states. and so the answer is not more protectionism is more free trade do you have a solution. i think the long-term solution of course is greater competitiveness on the part of the u.s. economy they are
making a lot of the necessary forms that are necessary in terms of trade and eventually i think other countries across the world the united states must lead and beat be the shining city on the hill. one of my questions is as i watched the president with all of this. he starts the conversation and things change. he's just letting everybody debate and hope that they do that. i think that's quite possible here. and you are seeing the president starting to soften his position a little bit today but certainly there are
some in the white house who believe that protectionists and policies are the way forward there are others who believe. that the policies are very reckless. the huge backlash that we've seen. it is really going to support the position of those within the administration who are absolute supporters of free trade. your thoughts on the election in italy and germany. this is a huge development. you've seen the into establishing parties pulling in over 50%. this is a massive game changer. thank you. we will be right back.
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he received around $361,000 in benefits including food stamps and supplemental security income benefits. he agreed to pay back that money but also faces up to 12 years behind bars. the sweep in northern california by federal immigration officials, a number of illegal immigrants convicted of serious crimes so immigrations and customs enforcement said the four day rate at led to the arrest of and many of them with criminal records. this despite the mayor of oakland. amazon is in talks with the big banks about building checking account products. the talk for the financial firm.
and those without bank accounts who may be familiar with amazon. shares of amazon at $1,500 a pop. check this out. they are using artificial intelligence to give southeast, and videos and in different backgrounds. the system can swap out backgrounds fast enough to keep up with the video right now this is only available to a few of the high profile users. that just makes their job in the -- even easier. it's up 25 percent from a year ago. the corporate american response to the tariff plan. we will tell you what the responses from corporate america. flying cars are the way of the future. it's all coming up next. mom, dad, can we talk?
sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. 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. welcome back businesses are reacting to the pledge on tariffs. it could result in a price increases. shortages or even retaliatory trade barriers. they address the fierce. yesterday. the impact will be a fraction of 1%. again trivial.
it isn't the important fact that there are more people working in steel consuming industries than in steel producing. the important factors they are relative to the business. he was a former ceo of a steel company. edit joining the conversation. your take on this. i look at what president trump said. he believes our trade deals are unfair. and i think this is much more a political statement as it is an economic statement. he is firing a shot across the bow.
and to behave themselves and understand that we want fair trade deals. it is can impact every business in the united states a one way or another overtime. they're all about steel for equipment. it will probably be a year to 18 months before we really see a significant effect. hopefully we can get some of these straightened out. trump is not to be messed with. he is looking out for america and america's workers. it sounds like you're not worried about the impact you agree that the notion you said earlier. this is more about telling china get in line and change your practices because we mean business than anything else.
i had traveled around the world quite a bit. and believe me their economies are a lot worse shape than were in. we are a big consumer of goods in this country and it needs to be done in a way that is fair to our workers and our consumers and china has a bumping attitude. they are producing steel and aluminum like crazy. if china does make a change on this. it's not china it's every nation it's every nation that we trade with it is so exceedingly complicated. as a former ceo of mcdonald's if this is done 25% steel
tariff. would you have ever as the ceo of mcdonald's told your customers 25% price increase. if he is the ceo of the united states. that is what doesn't make sense to people if he's not going to step up and do it and do it the way it was explained in the last three or four days. he is not a politician. he is what he is. he is bold and he's inarticulate in a lot of ways it when when he does these things. they have to prevail ultimately. everybody needs to win a ceo would never actually do that.
a dramatic proclamation that they are trying to use as negotiating tactics. i would have to agree with you about that. he is what he is. he says this is a trivial. that its neck and have a big effect on the cost of the soup can. do you think it's trivial and i'll all think it's trivial at all. we are talking about free trade. in strategic direction. strategically i wonder why he's doing what he's doing. technically it may make some sense in the short term. it rocked the world, everybody's talking about it.
that second be easy. at enough he saw the president's tweet. it looked like he was shifting a little bit his position say he's gonna and save his gonna put this on nafta i don't know if you saw that. but that was another indication that he is in fact using this as a negotiating strategy. i think that's exactly right. it might not be the best strategy but it's what he's using. you hear every leader of every country talking about how unfair this is that's get together and start talking about what's fair. you are running mcdonald's usa. you see steel tariffs on aluminum. let's say hypothetically you are still running mcdonald's usa. what are you going to do. how much are you going to raise prices.
for every penny of increase in cost we are 1% increase in costs. you have to raise your prices about 3%. it does have an impact. but we are talking about small matters when you're talking about a small business. when you're talking about the fate of the nation in the direction of the nation a far more strategic matter and one has to be managed very carefully. this is not about six tenths of a cent. it's a much larger issue. if the rays raising prices by 3%. is that we decide.
for every increase of 1% on the manufacturing goods. it's only been a neat 10% margin. you can have to raise the menu aboard 3 cents to offset it. we will be watching. this is important story. we hope you will come back. the feud over the fisa court. it is time for a second special counsel. and then walmart cooking up a something new. you can't predict the market,
it was down to 70 points on friday. it was well off the lows by the way. the market have been down to 400 points. the nasdaq and s&p are now firmly in positive territory. a little bit of an up estate on an upside. markets are higher across the board. andrea merkel has secured her fourth term. take a look as you can see. the worst performer. down two and a quarter percent. over fisa. trey doughty raising the possibility on sunday morning of sunday morning futures. of needing a second special counsel. at the top of the fbi and the justice department. congress has been itself incapable they should not be looking into it. we needed independent orbiter. or special counsel. in the first from walmart.
porsche eyeing the sky. there i'd i now activities. i understand yes i said it. first our top story this half hour. it is now pointing to a need for the second special counsel. it told me on sunday morning futures yesterday that the inspector general. some of these witnesses have already left the department. they have no jurisdiction
whatsoever. i had counted up almost two dozen witnesses that the inspector general would not had access to where he alone conducted this investigation. i think we are training perhaps towards another special counsel judge andrew napolitano is with us right now. i partially agree and partially disagree. i will explain to you. they are dangerous. they are just freestanding agents who indict people and whether in the united arab they could go anywhere and they do go anywhere. i happen to believe that it's an honest guy. i also believe there's a great temptation. to keep digging and digging until they can find one of the 4400 having said that some of
what they said think of the inspector general. a police department within the police department to police department to look at the other cops. how many employees are there in the doj. 90,000. there's a couple dozen that work for the inspector general. he no longer has authority over them. he can't subpoena them and he can't question them. as of the end of this week. having said that who chooses the special counsel. if jeff is sessions is recused and all things russian and they were related extensively on their face. because they said i'm working
for the kremlin. the decision would be made by rob rosenstein. there are four or pfizer fisa applications three in the obama administration one during the trump administration. was he going to appoint as special counsel to investigate himself? this is a very complicated situation. he is obviously the former attorney general. he said the department of justice should be handling this investigation. here's what he told me on sunday morning futures. we have a justice department and they can do criminal investigation. what is the conflict in this justice department and investigating that episode. i don't see any. if a special counsel only when
there is a criminal investigation to be conducted and there are some good reason. my can do it. he's making a good point. the justice department likes to commence investigations with the inspector general. it would rather discipline its employees for violating an internal regulation than prosecute one of its employees i happen to agree with the justice department. they have some great one-liners. i wish i could have graded my own exams in college. it's different when you have a 90,000 employees and you have different teams that had no connection with other teams that can do the investigation. why not ask bob mueller to make this part of his investigation.
spoken like such a wall street journal editor. that would save the government a lot of money. i don't think he you would have any choice but to do it. but if he expanded the jurisdiction. should they investigate him dropping the ball on prosecuting hillary. he is a witness against donald trump on the issue of why he was fired. there are some the conflicts. now he has hired the very individual that helped him leak and actually ended up getting the special counsel
they weren't entire attorney and client at the time. no court is going to force the lawyer to cough up what the attorney told him during the time of the investigation even if what the investigation said. he has a book coming out. he is planning to sit down with george stephanopoulos on abc. does that complicate matters. only he can tell us that when we read the book. i would be surprise of anything in the book as it contradicted. you may have to say something under oath that's inconsistent with the book. he is willing to take that chance. they are expanding that investigation.
this is from the new york times today. the lebanese american businessman and advisor to the united arab emirates is being questioned. what you we think this is about. none of us have really ever heard of this guy. apparently he has had regular consistent systematic relationships with the campaigns the transition in the white house itself. and he represents the uae. is that a crime? no. but there's something that he is worthy of spending taxpayer dollars in order to investigate. there is no limit to where they can go. when we've have devon devin new does. maybe at the end of the day we don't even want the fisa court in place if it's getting abused. i'm wondering if that is where this is going. i would be saying prayers of
thanksgiving. it violates the constitution by changing the standard that judges use to apply to issue warrants. and the fact that it meets in secret it is a is the reason why these things are happening. who is watching the foreigners don't need a more warrant to watch them. really good point. important insights from you. a recipe for success. they plan to take on competition from meal delivery services like blue apron. right. but you want to fix it. right. so who sent you? new guy. what new guy? watson.
walmart is offering prepared meals at its stores for the first time that is a potential threat to amazon into blue apron all the same time. walmart serving up ten different meals they will be available in 250 stores that program is expected to expand to all 2000 walmarts this year. they're up to 25% from a year ago. imagine this. porsche looking into a new adventure. developing passenger drones hoping to bring the world a flying car one day. the flying cart well reportedly be mostly autonomous. so basically the person behind the wheel when would need a pilot's license to see that. most of hollywood celebrating the oscars last night black panthers in theaters. continue to dominate in the box office.
what happens now determines what happens to the rest of the world. it's already the biggest hit of the year. it brought in $65.7 million. it has topped $500 million and domestic ticket sales so far. it's already one of the ten highest grossing domestic movies of all time. in its opening weekend. the reboot of death wish. game night in peter rabbit round out the top five as you can see. disney drops the first trailer for the sequel to mary poppins. i can't wait. emily blunt takes over from julie interest.
five decades after she won best actress for that role back in 1965. it also brings back dick van dyke he will play a different character this time but it's still nice he's returning and it comes out at christmas time. everybody was saying with julie interest in the come back as of now the answer was no. coming up next to her in the game. will talk to the new virtual reality company that is bringing the sports fans closer to the big game than ever before. back in a minute. it's time for the 'sleep number spring clearance event'
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you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. 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.
virtual reality kicked off as the industry goes. they are bringing that experience to the sports field by changing the way the fans consume the action. joining me right now is the chief business officer mihir, good to see. explain how life light works. it is owned by our parent company 21st century facts. it is trying to reimagine how it works. we are building the mixed reality experience. it feels like they are in the stadium with a v b a p lounge. what is it like? give me the experience we are looking at it right now. i am there at home but i could see on my screen what is going on from the field if i'm
behind the scenes. >> the way it works is once you put on your headset you feel like you are transported through the stadium. your having an option to move to different parts of the stadium. you can move it to the end zone or the 20-yard line. at the same time when you look around you there is a lounge that has different types of content. more importantly. four people can come together and watch games as though they are watching it from the same couch. i know it's been very important to fox into the murdochs. in the virtual reality used in sports. can you apply this two other things away from sports. any experience that is a social experience it works the same way. we haven't really done anything outside of sports specifically but you can do this for concerts and fashion
show. you can be at the red carpet or backstage. and you think you can charge a premium for this kind of program. we partner with them with their business. even if eventually if you want to sit court side you could pay something. it's really creating a virtual stadium of the future. and where do you take this. how do you monetize it. we have a licensing model. then of course brands play a big role in all of this. any brand that is looking for an innovative play with millenials. this is the platform where they have this.
there is a bucket of chicken wings. that is a great application. that is really cool stuff. thank you. we will be watching it more. we will take a break and we come back hollywood's biggest night becomes political. we will have the major moments with the oscars. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income.
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administration fighting back wilbur ross addressed the being with me this weekend on "sunday morning futures". >> he -- in terms of inflationary impact a total of nine billion dollars tariff about one half of one percent of the economy. so this business of the sky is falling is silly. >> rattling u.s. investors
driving stocks lower the dow closed in red fourth straight trading day friday longest losing streak five months futures indicating selling will continue dow industrials nasdaq and s&p 500 weaker with this right here, the lows of the morning, dow industrials set to open down 85 points one-third of a percent a third lower on standard & poor's. >> investors eyeing elections in italy germany initially results in italy to show a clear winner the party looking to have gained significant ground in germany angela merkel secured fourth cherm, dax up 1/2 of 1% 6 points higher in asia overnight stocks mostly enclosure chinese government laid out plans for economic growth, setting the target for economic growth 6 1/2%, for 201 in china, another hurdle in qualcomm broadcom deal breaking this morning u.s. government ordering qualcomm to delay its shermaned meeting
plans for this week, more on that, straight ahead,as you qualcomm shares are off lows down 1 2/3% a wild made to at academy awards did not come without controversies despite a positive night host jimmy kimmel a-listers took aim at president trump double standard this morning, making the most of your opportunity a college linebacker, stuns scouts and internet check in out, entiring story is as griffin sets records at yfl combine joining me fox business network dagen mcdowell "the wall street journal" global economics editor jon hilsenrath. >> lee carter. >> great to see you. >> lots to talk about feel-good story of the weekend, griffin i hope to see pick him up brother plays for seahawks inspiring story. >> also the story only has one hand, and not only did he have
a great 40-yard dash he bench pressed 225 pounds. maria: i know. >> i would love that video. we are going to show you that coming k up joining the conversation this morning, we've got ceo of tia, roger ferguson, as well as former advice chairman of the federal reserve, the host of mitchem malkin investigates here host of "varney & company" stuart varney a big hour coming up we kick off with top story investors watching washington president tough trade talks rattles wall street and markets blake burman at white house with the very latest. good morning to you. >> good morning to you as well the president top advisory say no countries will be exempt from the steel and aluminum tariffs this morning, president trump seeming to tie this to a nafta rework, the president tweeting out a while ago quote we have large trade deficits with mexico and canada about nafta under
renegotiation right now has been a bad deal for usa, massive relocation of companies and jobs, tariff on steel and aluminum will only come off if new and fair nafta agreement is signed pup however, the president top trade advisory navarro said a while ago this didn't have much to do with nafta. >> the purpose of the tariffs is to defend our steel and aluminum industries make no mistake about it, and if -- i understand if we get if we get a great nafta agreement ambassador is trying to do. >> would be great for american people but at this point in time 25% steel 10% aluminum no exclusions firm line until the sand. union comovg tariffs on harl harl, bourbon would cut into constituencies of paul ryan and mitch mcconnell president trump threatened a tax on
european vehicles, republicans all across washington are hoping the president will reconsider. >> your solution let china off the hook, only going to hurt american consumers and allies please reconsider your solution. reporter: the president tweeted out a while ago within last couple minutes the following quote to protect our country, we must protect american steel #america first as far as timing here peter navarro contends president set to sign this later this week or some point next week the administration argues that there will be no the meaningful downstream costs to the consumers, that is part of their grument. maria: deadlines april 11 for steel grille 19 for aluminum that tweet the president posted today this morning when he said tariffs on steel aluminum only come off if new fair nafta agreement is signed. is he opening the door to
having some -- you know, you know, carve-outs. >> one would think that tweet maybe opens door for a potential bargaining position but you just heard peter navarro says this has everything to do with steel and aluminum a separate issue, is now with white house, we ultimately see the president say or tweet one thing advisers say something else this is is going to be wrapped up within a few days. >> thank you blake burman latest there, white house, joining us right now to talk more about that host of might have chel mall kip gaits always a pleasure to see you thanks for joining us. >> thanks thoughts on trade policy in tariffs. >> well, it is not a surprise, he has been signaling that this is where he was going to go since he wrote his book in 2011 advocating for these kinds of tariffs, he is making good on his promise to keep america first, and i know that
roils a lot most orthodox free trade conservatives i would say i think there is a lot of hyperbole undue chicken little alarmism i note i am in colorado one of the companies that has been sounding alarm a company ball corporation, maker of aluminum goods. and although their stock fell 1 1/2% last week, overall, their up 5% i think i will trust the markets' judgment on this more than a lot of alarmist pundits whatever said they are on the factor if it had fallen 10, 20% may be that kind of chicken littlism would be justified. but i think that i think the devil is in details, as you point out it looks like the president is -- if not peter inactive are a -- opening the door to carve-outs, the final language isn't out we will
have to see. >> michelle dagen mcdowell, but not just people kind of pundit sounding alarms it is some individuals who advice on pro-growth pro u.s. parts of agenda over weekend, art laffer steve moore larry kudlow saying to the president tariffs historically don't work could damage more jobs than it helps it seems like that is a to boil it down, it is that you are -- you jeopardize harming many meaning americans to save the few. >> right, i understand that, and -- and, of course, as someone who is generally a free trade conservative i completely understand where steve moore and art laffer are coming from. on the other hand because i have been a vocal advocate of the sovereignty agenda of this president i think important to understand historical that
there have been numerous republican presidents over years plashl post civil war for tariffs there is mixed -- evidence, and there is a lot of internal debate on the right, about the effect of tariffs particularly on job creation and prices, i think that the argument among trump economic supporters who support this in "the wall street journal" even today, that overall in a this is a drop in the bucket, in overall economy. maria: but look, you said earlier, lee carter, he is answering to the people who voted for him i mean the president is going to pennsylvania, on saturday, march 10 political rally in advance of the march 13 house special election they are going to be cheering on this. >> no question about that, we were talking earlier article in "the wall street journal" page three about how
pennsylvania voters are feeling about the tariffs how this is really appealing to them, i think that the president is one who is talking to the people not talking to influencers not talking to. maria: certain not global elites. >> he is talking to people exactly who voted for him look at the steel states. maria: worried about jobs -- >> ohio -- i was at event he spoke at on saturday. and the president thinks very often and very carefully, about the states that went for him, on and button. maria: ohio pennsylvania michigan, exactly. dagen: but the people who live in those states don't work for steel producers who work for steel you consuming industries michigan, you have a guy quoted in the journalling today a supplier of metal stampings worried about repeat of 2002 bush is bush tariffs destroyed 200,000
jobs, because of those tariffs more entire employment of steel industry then worried about auto companies go to other sources -- >> the trump and his when trump was campaigning, he promised to make better trade deals, bring back jobs, going to do all thing and so people hear making a move that means jobs for them, better economics, security, and that is -- might not necessarily be evidence but that is what people believe. >> we've got to get to illegal immigration. >> go ahead. >> i think mr. art of the deal we will see in the end if he gets what he wants fairer trade deals that these are not going to be interm inhabitable tariffs may follow path of george w. bush after a year got rid of them if you look at the solar panel, dishwasher tariffs as well an extension of obama, those were phased out this isn't going to last forever. >> move to stunning story
we've got to get your take on illegal immigrant in california has pled guilty to stealing a u.s. citizensist ooist 37 years prosecutors say traveled freely between u.s. and mexico would ied prosecution for dozens of crimes he was deported twice because he got hands on somebody's birth certificate and was able to get a driver's license, and all this stuff, also to become eligible for u.s. benefits 200,000 dollars what do you make have a of this. >> if outrageous happening for decades, i think certainly gives lie to theist thissist is some harmless crime i have reported so many times over last skwaerlt century since i was a columnist, at los angeles daily news about how this vik myselfees people deal with it rest of lives stunning
the amount of theft crime of this particular individual, but way overdue for these cases to be prosecuted. and i haven't seen at this kind of prosecution happening like i said over last 25 years, i have been, doing this, i think it points to the fact yists identity theft harmless misdemeanor forgiven by mass amnesty people are angry daca priority over fixing these kinds of -- of so-called misdemeanors building a wall. >> by the way, daca deadline supposed to be today march 5 you know ice agents say they caught 232 illegal immigrants during that raid in northern california. of those captured the 180 convictory criminals, 115 felons so ice claiming it could have arrested up to 800 more if oakland mayor did not
sent outside a public warning beforehand so are these kinds of people that mayor of oakland is protecting? >> yeah, that is right a safe space for all kinds of felons including violent criminal felons, it is a felony to aid and abet illegal immigration that mayor should be prosecuted she is a criminal not in sanctuary city but outlaw as he should be behind bars. >> congratulations, on winning several hollywood international independent documentary awards last week for your program, great job. >> thank you. we will see you soon. >> we'll be right back. stay with us. rns out the prints at the crime scene- awwwww...did mcgruffy wuffy get a tippy wippy? i'm serious! we gotta move fast before- who's a good boy? is him a good boy? erg...i'm just gonna go. oh, you wanna go outside? you gotta go tinky poo-poo?
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qualcomm encouraging government to intervene on national security grounds, taking a look at both chipmakers down qualcomm down 1.8%, all right a less controversial deal in the works, buying xl group for 15.3 billion dollars, axl wants to cut exposure in financial markets to focus on insurance products, sensitive to volatile swings deal creates one of the world's biggest property and casualty insurers taking a look at xl group sharper higher right now in premarket but better than 30%. politics taking center stage once again, at the 90th annual academy awards, jimmy kimmel returned to host a second year cracking jokes about, everything, including vice president mike pence. >> we don't make films like -- calling by name for money we make them, to upset mike pence. >> [laughter] >> frances mcdormand best
actors for "three boillboards outside ebbing, missouri" invited all female oscar nominees to stand during her speech. >> if i may be so honored, to have all the feel nominees every category stand with me, in this room tonight. the actors -- if you do it everybody else will come on filmmakers producers, the directors, look around everybody look around ladies and gentlemen. because we all have stories to tell and projects we need financed. >> reaction from audience to the oscars military attribute made some very angry one twitter user said hey you guys notice how no one in audience gave standing ovation for military and veterans during dedicated montage? yet they stand for almost every celebrity they won why everyone thinks they are out of touch, #oscars. maria: i get it.
>> pel said. >> thank you laurn feeling into awards show hollywood is out of touch. >> i just thought it was so predictable that you -- the jokes weren't funny the political backlash was so predictable it is tell me something i don't know that was part of the problem. >> talking off set earlier the movies celebrating weren't very good. >> make better removes. >> maybe more people will watch. >> fair enough fair enough i do think the point about predictable i think was somewhat predictable i think tried to make some fair to state to make it more inclusive having a montage not military i thought good. >> that was a surprise. it was a surprise to me jimmy kimmel made effort to connect with average americans out there, he talked about made finish how out of touch elites don't necessarily know how to relate i they made some effort, but awfully i think it missed. maria: all right a break when we come back netflix teasing
final season of "house of cards" without with kevin spacey a look at the new trailer next. i want you to pick a new truck for your mom or dad, knowing that they could possibly pass it down to you one day. cool. but before you decide, you should know that chevy silverado's are the most dependable, longest lasting full-size pickups on the road. which means that ford f-150s are not. (laughs) which truck would you pick? the chevy. the chevy. the chevy. there you go. boom. that was obvious. plus it looks cooler. no doubt about it.
maria: a hill from the chief new trailer for "house of cards" without kevin spacey netflix aired easy toer in oscars last night streaming company won award for best documentary feature, nicole petallides on floor of the new york stock exchange watching stocks looking good, good morning to you. >> netflix included netflix likely a new all-time high, at the opening bell this morning, at this level of 304 that
would be new all-time high for netfl netflix, of course, we saw that trailer of the season coming up you mentioned obviously kevin spacey out now, because of sexual harassment allegations was in oval office as frank underwood now robin wright his wife character underwood sits in the chair says we're getting started so this will be 6th final season, of course, the feature best documentary feature about jokiprofessional sports, to amazon looking to upside, around 1503 this morning are you ready for amazon branded checking accounts? has been reported by "wall street journal," sources saying working with j.p. morgan big banks about having their own branded bank account type checking account, and may not come to fruition, but it could reduce fees for amazon, for the people look at details of this one maria saying that it is own banking subjected to
capital rule other regulations, that likely would limit its aggressive expansion this area i am sure banks are saying when coming to our turf now amazon is extending into about everything back to you. maria: amazon checking accounts now, all right. thank you we will watch that, we are expecting a lower opening, want. circumstantial ba-- circle back to "house of cards" watched every second you going to watch. >> absolutely. >> it is about -- because my favorite was -- robin wright was michael kelly interviewed on this show. >> he plays doug a nice guy incredible actor quite frankly kevin spacey chewing syrcenery, when somebody tries a southern accent that badly it irritates me. >> i am glad he is gone. >> i like the fact that she is
kicking off new season, as -- as president. >> she deserves every accolade she gets for playing that. >> great, we will come back, netflix we will come back "house of cards" breaking news to get to right away president trump tweeted this, why did obama administration start an investigation into the trump campaign with zero proof of wrongdoing, long before there exin november? wanted to discredit so "crooked h." hillary would win bigger than watergate obama did nothing about russian meddling question asked before president thinking about this again leads to question about fisa abuses we will keep watching that coming up i speak with ceo president tia and former advice chairman federal reserve ferguson in the stu will weigh in on president trump'stive pledge federal reserve outlook 100
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morning, we are off the lows, right here, down 50 points on dow industrials just two points legislator on nasdaq, 10 points lower s&p, this after friday's line to dow down 70 points friday, that was well off the lows, of nearly 400 points earlier in the session, as you can see on friday s&p, nasdaq closed higher in europe this morning markets are higher across the board rebeing a to go votes in germany italy no clear winner in italy, angela merkel secured fourth term as journey chancellor dax up three-quarters of 1% in asia overnight mixed mostly lower worst hong kong hang seng down 2 and quarter% from hardwood to silver screen to oscar gold nba star kobe bryant takes on statute raises eyebrows in era of the #metoo movement. >> one stuns at nfl combine
more on inspirational store coming up this morning, first topping news this half an hour investors on edge after shaking off a rough start to the year government tough new talk on trade, and steal aluminum tariffs has investors rattled ceo president tia, roger ferguson good to see snoi thank you for joining us we want to talk to you about you are the former vice chairman federal reserve, you have been running tia for -- >> about a decade. >> and the firm is celebrating 100 years. >> really great stuff. >> lot of great things. >> let me get your take on tariff story economic conditions right now your thoughts on steel tariffs aluminum tariffs. >> i think unusual frankly general combine of american economic policy, we have been trying to push towards free trade, and so many in economic profession obviously some in business community waiting to see exactly how this unfolds. >> markets obviously nervous about it worried that they are
going to see retaliation from a other countries but other nervousness not sure what is going on with the federal reserve right now. as former is very chairman of the fed what is your insights in terms of broad macropicture job fed has ahead of itself of unwinding a 4 1/2 trillion-dollar balance sheet. >> broad macropicture constructive positive for the first time in long time growth in almost all the major jurisdictions, u.s., europe, china sets. >> a big deal so that a very big deal, corporate earnings look strong, and the fed i think in process of gradually unwinding stimulus but i put emphasis on gradual, inflation at this stage, still some concerns, has not broken out to upside, in fact the most recent readings slightly below. the fed target of around 2% or so. and so i would say, you know things look reasonably good, in the broad macroeconomy, but
the backdrop of some policy uncertainty. >> we are going to get next wage number next week when we get the jobs number what we know in the last employment our report wages were up 2.9% so do you see that wages are moving higher creating a tighter labor force than we have seen in some time? i think it is going to other way. >> really? >> well the labor force tightening labor market is tightening unemployment down listener 4% or so many think main full employment as a result of that starting to see gradual uptick in wages we have not seen in a long, long time. >> so do you think that is a good thing should be be wider we have we know asking for higher wages a long time get a better growth story market freaks out. >> a neither positive thing to see wages increasing, it means more money in the pockets of the american consumer the result of a gradually tightening labor market the question becomes whether or not the market is tight in such a stage inflation going
to break out on upside, no sign that have just yet. maria: here we are watching something that is also unprecedented, and that is for the fed to unwind 4 1/2 trillion-dollar balance sheet how tough is that going to be in they have choreographed 50 million dollars a month at some point, but what wouldn't that create disruption. >> i think as you pointing out, choreographed most important thing. >> got to be transparent they have been markets i think recognize what is coming, so i think no particular reason why unwinding of balance sheet need immediately to lead to any kind of disruption can be cone smoothly seamlessly assuming transparency. >> you like the way backdrop feels in the u.s. >> i think feels very constructive in u.s. >> china out with its 2018 economic targets looking at economic growth 6 1/2% you know they will get there, i mean it is down from the growth rate of last year was 6.9% but your thoughts on china's incredible rapid
growth. >> chinese growth i think has been as you say, incredible in some ways rapid certain but a recognition of bringing that chinese labor force one from the country side into the cities and frankly bringing into the global markets. and so given where they started, one would expect to see a long period of relatively rapid growth exactly what they managed to engineer. >> tell me what you are doing at tia let me switch gears a ladder helping americans save invest comfortably for retirement, i know you have a white paper on this right now, when going to get to, but what have you seen at tiaa. >> last decade. >> after crisis obviously is a gradual intake in savings, but people also uncertainty about future we are recognizing retirement comfort broadly speaking there is discomfort
uncertainty about retirement outcome. >> you say three big gaps coverage gap not enough americans have access to a savings plan like a 401(k), the savings gap, people are not saving enough money, and the guarantee gap managing savers to avoid out living your money what do you want lawmakers to do about this. >> look, confront all three, so first lawmakers and the private sector have to get more people involved in savings. individuals have to save more, and then in the last one the guarantee gap the new thing we have talked about, lawmakers and companies need to take advantage of tools that are out there, such as annuities can in fact close down the guarantee gap. maria: your -- client, members however you call the investors, are long term thinkers. >> absolutely. >> are they getting nervous about wide swings return of volatility? >> no, what we've seen among our participants as we call them in fact, is a degree of
comfort, case they are long term investors and because they recognize, that we as a company have a great track record, you may know that we have won the award for 6th year in a row unprecedented, and that is a reflection of risk adjustered returns three year time period very, very strong relatively calm in face of volatility. >> not doing anything right now. >> keeping money safe. >> keeping money safe not making dramatic movers we always say, cause they are long term investors do not attempt to time market do not overreact to temporary volatility. >> you are out with a white paper on infrastructure. >> yes. maria: and paying for it the paper details how insurance companies including yours are interested in participating in financing how do you participate in financing get involved. >> look at we have a general account the insurance pool that we invest 250 billion dollars, about 8% of that is vested in real assets, if we
look across the industry there are billions and billions of dollars that either are vested or waiting to be vested in real assets, there are some technical fixes that have to be done particularly state level to open that pool of money, but as president is talking about public/private partnerships the private end that have may well be insurance companies that are big, long term investors, appropriate for and infrastructure kind of investment programs. >> there has got to be a big opportunity for financial services companies to get involved get a piece of infrastructure plan talking about 1 1/2, trillion dollars. >> absolute. >> 200 billion dollars federal monday. >> absolutely no doubt that this is what needs to be done has been done around the world, in many places, you see major infrastructure ports airports roads, et cetera, bridges all everies have some prioritize funding as well as public funding can be done safely but we do need to get all our regulators lined up. >> much do you think about budget issues here we are
talking about more spending, on the heels of this you know, big spending plan, announced by republicans a week and a half ago how do you pay for all this debt now 20, 20 trillion dollars above 21 trillion almost. >> right i think all of us have to focus on that, because we have up coming challenge around paying for all the retirement, for all of us aging baby boomers search and seizure medicaid all we have to focus in on. >> in terms of where people are, whether or not they have those safety nets that is something do you every day try to sure they do. >> right leading to potentially on on budget in near-term we have to be very wind full. >> ti. aacref turning 100. differences makers, we are going to identify, 100 people, in the not for profit sector making a difference in plol
communities, regionally or even nationally globally, for those it is 100 activities, we are going to give 10,000 each to charities a million dollars supporting people trying to make a difference, in the world. >> that is terrific roger congratulations. >> your time running tian cref how did it caregiver what you have done in terms of issues for country. >> many ways similar so fed very focused on, sustainable growth, keeping inflation low, we were very focused on financial security for million dollars of americans, and focused on the big social problem of the day which is retirement among other things, and so i look at my decade thus far tia, very, very much a public policy issue as well as private sector issue. >> do you miss the fed rodger talk that they want -- he to lots of changes at the federal reserve jay powell running things would you accept that
job. >> you know i love the job that i am doing, it is most important that i think i can imagine doing right now many interesting names floated for jobs in washington and in new york, i wish all those folks very, very good luck. >> what can you tell us about jay powell, and the way he will approach leadership at the fed, versus janet yellen. >> look, i have known, chair powell since 19812, 1982. very stable pair of hands very thof, collegial i think you saw his early testimony, smooth, professional. >> seems very comfortable in the job. >> very comfortable in the job good selection off to good start. >> great to see you thanks for all that you are doing for retirement and health of this country. >> thank you for talking with me. >> rodger special guest for wall street. >> futures opening a broad we're opening off the lows expecting deadline 60 points
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griffin. . maria: the roll back regulations continues, later this week senators to vote on bipartisan plan, to loosen up dodd-frank rules banks joining us now host of "varney & company" stuart varney to weigh in on that stu this is going to be a big deal for the financial services sector. >> i love it. maria: yeah. >> i absolutely love it, the boot is going to be taken off the neck of large regional and local banks. that is a very good thing. the boot was put on their neck by the dodd-frank regulations 10 years ago, it wasn't the
local and community banks regional banks they didn't create the financial crisis they paid the price for it. with new regulations. some of these regulations are coming off freeing up community and regional banks i think a wonderful thing. what is great about it is i think it is about a dozen democrats in the senate will say yes, lets loosen up this area of financial regulation. they all voted for it 10 years ago now seeing damage done, so they are going to say yes do it elizabeth warren entirely separate issue she is permanently outraged permanently angry, she is apoplectic about removal of some regulations from some banks, she is having none of it that points out essentially split in democrat party open available for all to see. maria: you are right stuart i always laugh when we talk about pro pry pro pry tarry
trading vehicleel rule how are they going to enforce what they want write difference trading for account proprietary versus trading on behalf of the customer, how are lawmaker going to tell the difference if you can't actually right what trading is you are not able to enforce. >> it you have 10 years, to right it are probably they haven't been success you got to accept back take a totally different look at what is going on here. what is financial institution who are they are. >> is apple a financial institution 260 ode billion dollars crash? how about microsoft amazon. >> amazon wants to start checking. >> checking accounts who is how do you regulate it you got to take a a fresh look at this i am pleased to see some rules coming out. >> i know next couple months a good a good time for the banks, and the years to come,
because there are about to see great things around the registry rollback in regulation higher interest rates help margins better economy. >> should be we look at financial servicers see you 10 minutes. >> you will "varney & company" top of the hour 9:00 a.m. eastern right after "mornings with maria" join stuart a successful race to the finish line shaquem griffin earning prays at nfl scouting combine that is next. ♪ ♪ built to run on the ibm cloud.
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movement. >> in 2003 kobe bryant accused of raping 1-year-old woman timing of questioned for animated short film dear basketball drew prays from imagine johnson -- adapted from people he in 2015 to announce retirement many raised eyebrows -- times up, me too movements many pondering new york city radio host morning, who wrote define irony kobe bryant wins oscar during year of the metoo movement #oscars icharu.s. for best documentary. >> somebody could fill mickelson nearly five years played golf without a single tournament scored first title since 2013 british open despite 2-putting for par peat
out thomas wgc mexico championship 112 for mickelson between last win and this. >> harvick won two as in car races picked up second win 201 as many races harvick's first place event las vegas motor speedway 100th of contemporary spanning three national car series a man born with a nonfully formed left hand am pated age four not edited to nfl combine bench pressing 225 pounds with prosthetic hand fastest since 2003 to run 40-yard dash, 4.38 seconds trying to become first one-handed player drafted in modern era j.j. watt tattooed about shaquem griffin killing it sherman wrote if shaquem griffin doesn't get drafted first two days the system is broken productive performed well at combine well against
high level competition nfl points out shaquem and indiana brother plays for seahawks in league one year, they are not only identical twins but identical times in 40-yard dash 4.38 seconds sometimes i wonder if you are not somebody a twin or has identical twin fascinating 4.38 seconds both did. >> it incredible. >> the fact that he bench pressed all that weight, with a prosthetic hand. dagen: buddies can talk about all weekend, to -- a friend of mine who works in the restaurant next door david, barham, number one fan, fans really want two brothers twin brothers, brother is a cornerback. >> brother is a cornerback went to central florida -- >> now more expensive, given that -- shaquem performance at
combine don't make it more expensive for seahawks -- to -- >> yes. >> not for nothing. maria: how can you not get drafted that have the. >> smart business move if it doesn't work out still a win. >> totally. dagen: nfl needs -- and this is it nfl needs this. make it happen people. >> rooting for you, thank you, jared max catch reports 24-7 or check on radio syrias xm -- siriusxm. >> ♪ ♪ ♪ alerts -- wouldn't you like one from the market 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. 'sleep number spring clearance event'.
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>> welcome back. final thoughts on this all-star panel. >> i'm fascinated how this whole trade issue is going to fall out. i want to encourage those come up with a plan, don't criticize the solution. >> i'm puzzled by the president who's trying to steal tariffs to canada and mexico when the source of the steel problem is china. it's not canada and mexico. >> maybe that's the point. he's telling china watch out. i mean business. >> but i don't know what that has to do with china and mexico. >> yeah, true. inserting it into the nafta negotiation, dagen. >> to your point, all the
people who are worried about the impact of the tariffs on the economy, all they have to do is step back and let it happen and watch this country crater. people keep tweeting at me what if we only use and consume what we make in this country? okay. all of a sudden that's called the great depression. >> yeah, we'll watch the implications. the big outcry. thank you, everybody. have a great day. "varney & company" and, stuart, take it away. stuart: thank you indeed. welcome to a brand-new week. let's get right at it. the president plays hardball on trade. he threatens an import tax on cars coming here from europe, and his top trade guy says no country gets an exemption from steel import taxes. if this is the president's opening position, it's a tough one and there is very strong opposition to it. the wall street journal says the reaction in europe is consternation. well, europe's elites are in