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tv   Mornings With Maria Bartiromo  FOX Business  March 23, 2018 6:00am-9:00am EDT

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1%. global markets following wall street's lead, take a look at shanghai composite, nikkei average in japan down 2 and a half percent and kospi down better than 3%. european indicatic -- indices look like this. we have a deal, lawmakers avoided a government shutdown passing a massive $1.3 trillion spending bill this morning, we are breaking down the numbers as it heads to the president's desk now. mcmaster is out, bolton is in, more changes coming to the white house as president trump announces he will replace h.r. mcmaster to former u.s. ambassador to the united nations john bolton. not only the change, the details as the top lawyer of russia probe resigns. tragedy in new york city, firefighter killed after a fire breaks out on the set of an edward norton movie in harlem, more on the devastating, a bump
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to the bank account, united airlines delivering massive check to give up one feernlg give her seat, first-class paycheck, joining me to talk about it dagen mcdowell, king's economic professors brian brendberg and gary b. smith is here. good to see you, gary. >> nice to be here. maria: on day that markets are completely going to roll over. dagen: my last thought yesterday at the end to have program, markets look out below. maria: that's right. dagen: it's not the upset, the fact that you have congress passing the spending bill, we are running off deficits and running up our our national deb. >> you sound so bearish. you think the market is going down? dagen: did yesterday. maria: the cost of our debt is
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going up. dagen: you have the fed raising rates, reducing its balance sheet, you have a congress that has no understanding of fiscal responsibility at the same time we try to take on china, the largest owner, foreign owner of our national debt, doesn't add up. >> yet, i will tell you one thing, i'm optimistic. dagen: get down or up. maria: what are you most bullish on? >> bullish on the market, not right now, not today. maria: right. >> bullish on the economy, i'm bullish, i think trump is basically getting it right and we will talk more about the tariff thing. brian: certainly not unexpected. he has been talking about this, maybe came later than people thought but it was going to come. >> exactly. maria: the trade story is exactly what people were worried about going into the election. remember when the market was down 700 points on election night because uncertainty around nafta, what will trump do.
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joining the conversation, florida congressman and house freedom caucus member ron desantis is with us. freedom caucus was among the first to say we are not in on this bill, former fdic chairman and founder systematic risk council sheila is with us this morning. the author of collapse of china gordon chang and katy engelbert, and cofounder and investor roger mcnamee, one of the leader shareholders in facebook for some time. we will talk with roger about what took place on facebook in this market this week. first kick it off with trade war hitting global markets, stocks across asia tumbled, take a look at the numbers, all the majors were down around 3 and 4 and a half percent. japan being the worst down billion 4 and a half percent. back in the u.s., the dow closed down more than 700 points yesterday after president trump proposed tariffs up to
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50 billion-dollars on tighter reqición on technology transfers, in response what the administration is calling china's unfair trading practices. >> we are doing things for this country that should have been done for many, many years. we've had this abuse by many other countries and groups of countries that were put together in order to take advantage of the united states and we don't want that to happen, we are not going to let that happen. it's probably one to have reasons i was elected, maybe one of the main reasons. maria: hours later the chinese government fired back saying that it plans to roll out its own retaliatory tariffs to up $3 billion on steel and alum go into effect today. the u.s. now says some allies including canada, méxico and the eu among others will get a brief exemption from the tariffs, joining us to talk more about that congress fbn:am claudia of new york, former small business
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owner, congresswoman good to see you. a lot of talk about small business and small lending, let's talk about the tariffs, what's happening overall in terms of currency, all the things affect small business, i'm a small business owner in up state new york, we are trying to move in a direction that we are kind of correct, try to correct this, this is what you're seeing in the market, i hope that's a correction, i hope dagen's dire prediction is not true. [laughter] maria: what do you say about the fact that china is coming back, really, we are going tariff you, we are looking at a serious retaliatory story. >> kim jong un react today
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president trump, to strong language. china actually has the biggest marketplace in the world that wants access to, that's the united states. we are where the consumers and they want to get access to. that's something that they have to weigh in negotiation, business model is flawed in tend. we know that they've set up these state-run businesses and that's how they operate. much like what's done in new york state under our current governor, we know that cronyism of state-run businesses in the long run doesn't work which i tend to favor that we have to do something now, how long are we going wait? how long are we going to let china cheat? steeling our intellectual property from our steel companies and others and i think that's what wilbur ross and the president are recognizing and maybe this is a short-term pain that may end up being a long-term gain for us. brien: what about the uncertainty that creates for small businesses? you understand they are trying to make plans, now that are saying, which of the 1300 products is going to be hit by a tariff, how big is the tariff,
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that's very hard for small shop to deal with, is that a big concern here or is that temporary? >> it is a concern specially for smaller businesses. we have a company called share manufacturing which took over and went to asia where it's manufacturing, they are dependent on purchasing steel as well, but i also have a number of companies in my districts and would like to see a little bit help. now they are buying it from overseas, i do think we will see adjustment in the market, making tariffs in more targeted way, using car currency, looking at x reform is something that will be helpful in my region which is the order of the day, we know they produce most of the jobs. this is the only way you will bring the rust belt back, i lived in the rust belt of new york. >> when you bring up a very interesting point and i think some people ignore it, we are china's biggest buyer by almost
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4 to 1. how can you have a trade war, active trade war with biggest buyer. maria: they have a 300 surplus on us. are they going to threaten that huge surplus with the tariffs? >> it would be like 3m selling tape to wal-mart, having a trade war with wal-mart. they buy a lot more tape than wal-mart buys from 3m, it would be silly, won't it? >> i agree with you. where are they going to sell goods and services, they create enormous state-owned businesses, big plants, fancy new equipment and they say come in and we will run these for you. people that move to china, they don't own businesses, they are owned by the state. people have to recognize that this isn't a situation where you have -- you have the actual free market going on. you have government-runed industries against a supposed free market against the united states that we are trying to get back to. maria: all true but they are still out this morning saying they will put retaliatory
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tariffs in place. we have to talk about the $1.03 spending bill. you everted a shutdown includes defense and domestic spending, the measure is headed to the president's desk for signature but a lot of pushback here, you voted yes. >> i did, it was a very hard vote. i'm a fiscal conservative. i hate the fact that we are spending and we are dependent on deficit. we tried to get this done through american health care act. we had significant reforms to mandatory spending side. we didn't get that. we got thumbs down vote from one person to the senate, which is so large that eclipses what we do in discretionary side, that being said, we have a short-term fix, they called it a big ugly. maria: why can't you just say no to democrats that want all the
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spending? >> i would love to say no, the president actually supported this. my biggest concern and my son is an active duty marine officer who has indicate today me and we have met with general mattis and numerous people on that side, we have seriously degraded our military over the years. maria: agreed. >> that's being held as a big club to us and when you see more good servicemen and women die in training than in combat, there's a problem with what we are doing in military side and general mattis has said, the only thing more dangerous than most dangerous enemies is congress, we need to do something with military. sadly it came at a price. dagen: 80 billion in defense spending increase above the 2011 sequester levels, 63 billion increase in domestic spending, the issue is because now congress republicans and democrats have signed off on higher spending levels we now get into the trillion dollar annual budget deficits, what that ultimately will do given
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the $21 trillion that we have in debt already, we will be spending more on interest on our debt in less than a decade in just a matter of years than we spend in military, this might be a short-term fix for military and those serving the country, however, we put that very spending and put our safety in jeopardy because we can't rein in our spending. that's the catch -- >> let me understand, we do not have 51 reliable votes in the senate. okay, forget 60, we don't have 51 reliable votes, we proved that in attempt to pass the american health care act through reconciliation. maria: you got a big -- >> a lot of things we can fix if we had enough votes, even a simple majority i would advocate to the senate, we don't have 51 reliable votes, think about this, in my district alone we had air force base that was closed. we now have one of the most significant assets, this asset
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is producing cutting-edge technology for the future of our military conflicts which in the long run will create efficiencies, will make us able to be -- i have some of the largest migration in the state of new york and the country. these are companies that are part of the former air force base, companies that are dependent, our military is depended on for many technologies, for me to turn around and say, i'm advocating for these in appropriation side, by the way, i'm not going to vote for it because i don't like what happened on the domestic side because we had to meet the needs of democrats. dagen: republicans are at even greater risk of losing losing te majority in the house and senate because of tariffs and retaliation from china. if you look at hawk-produce --
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soy producing states will get smacked on the state and those are the very areas of the country that trump won. the states like iowa that sent him over the top in terms of electoral college. >> there were technical corrections in some of the issues that were in the tax bill that would help with some of the trade and issues in there. we still need today revisit nafta, we still need today revisit trade deals and do them on unilateral basis. trump what he said, the word of the day reciprocal trade now, we have gone from free, fair to reciprocal. maria: real quick on bolton, your thoughts. >> i like john bolton, it's interesting the president's choices and let's see how that works out but i think john is very strong person and he's going to be interesting to see the strong personalities in the white house although we've had a number of them in the past, we will see where they end up. maria: thanks very much, great to see you. >> thank you, great to see you too. maria: practical approach from claudia tenney. the president is tweeting this
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maria: well, another tough day at the office as we have been saying, look at the dow industrials down 150 points on top of 700-plus sell off yesterday. we are watching market this is morning, nasdaq down 60.
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meanwhile a tragic night in new york, city firefighter killed in raging five-alarm fire in harlem film set. lauren good morning to you. lauren: fatal fire, flames broke out last night in a movie set in basement of closed club, firefighter michael first to arrive, rushed to the basement of the club but officials say once they got down there, the fire was too strong, it forced them to retreat, davidson somehow got separated from the other firefighters and when they found him he was unconscious and could not be revived. he's 37 year's old and leaves behind his wife and four young children. well, liquidation sales at toys"r"us are set to start today, the company apologizes because they were expected to begin yesterday. they prepare to close about 800 u.s. stores, founder died
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yesterday, he was 94 year's old. and this, a woman bumped from a united airlines flight gets a 10,000-dollar travel voucher. this after she launched a pretty angry tweet storm after the airline oversold the flight and asked her specifically to get off the plane because she paid the least for her ticket out of everyone else on board. one of her tweets said, unioned tried to get me to sign a document that says i volunteered my seat on the plane when i was involuntarily denied boarding but now she says after the voucher she said it was the best place, $10,000, you go to a lot of places. maria: coming up thousands of students from across the country will march in washington against gun violence in the wake of parkland massacre, one of the shooting survivors will tell us why he's not attending and then a bright spot amid the rough week, technology stocks dropbox debuts in nasdaq with higher than expected share price, we
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maria: welcome back, investors concerns over possible trade war rocking wall street today and yesterday futures currently indicating a decline at the start of trading of 160 points. that's two-thirds of 1%. nasdaq and s&p 500 also down 1% and one half of a percent after sharp selloff yesterday, the dow was down better than 700 points yesterday, biggest one-day decline since early february. here to weigh in research sam stovall. good to see you.
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>> happy to be here. maria: you're talking about backdrop that's pretty positive. >> i believe it's retest of correction that had bottomed in february 8th u maybe we go and we touch the rising 200-day moving average which is around 25-85, so they are probably further downside to go but at the same time i remind reinvestors that we are down less than 8% from the january 26 high, so therefore the numbers look large but on a percentage basis, it's actually run of a mill kind of decline. maria: you're not a worried. gary b., you said the same thing? >> i'm optimistic, here the only -- maybe one of the flies, the fang stocks have been leading, carrying the market on the shoulders, we've seen a little bit of, you know, correction -- maria: or a lot.
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10%. >> what's the future of those stocks, do you think? >> i still think the future looks pretty good. scott upgraded facebook to a strong buy feeling that this is being overdone and there's more opportunity there. if you look to those groups that are trading above ten-week, 50-day moving averages, still you do have the internet stocks above that moving average, so netflix looking at amazon are still doing relatively well. >> what's the next -- everyone wants to know, what's the next fang stock? what's going to be the next one? that's what we want to buy, right? maria: they are not trading the way facebook is in terms of valuation. >> exactly. also the semiconductor, semiconductor equipment, application software, the groups are trading above -- >> no, no, what i want to know, we are going to look 5 years
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down the line and say, i should have bought that fang stock? >> thanks for the opportunity. [laughter] maria: on the near term, you are expecting president decline, longer term you sound bullish on the market? >> yes, i do. i don't think trump wants to go down as the next republican president to initiate a recession even though every single one since teddy roosevelt had occurred in office. i don't think he wants to continue the tradition. >> does the trade spat end quickly in. >> i think similar to what we have seen with tariffs on aluminum and steel that were broad base to begin with, now we have special exemptions for our favorable trading partners. i think that this still looks like it's more of a negotiation ploy that could then be softened as we move forward.
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dagen: coming from a businessmen that's a wrench through used steel and aluminum. they are sitting around the last several weeks, how much is my steel going to cost, i source it from these countries, are they going to be exempt, calling people on the phone, can you give us clarity on this and it's still not that clear. >> you will see a real-life example in a couple of minutes because i was chatting with your next guest in the green room and he has challenges for that. maria: thank you for the tease. appreciate it that. >> no charge. maria: good to see you. thank you so much, we've had a great show following the ups and downs out of washington, take a look at the top moments from this program. do you worry that the growth story which is big reason coming from tax plan is going to get impacted by the tariffs? >> yes, we are growing, we don't want harm or slow it down but we have to stand up to china. as the president stands up to china, china realizes that they
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have done something wrong and standing up to north korea, they realize that there's a new sheriff in town and the world will be different in this administration. >> all we want is to defend ourselves against economic aggression and i see this as bullish for corporate america. china is doing a lot better with this trade relationship than we are. i don't see them wanting to jeopardize that. they know what they have been doing and taking from us and actually they are probably surprised that finally a president is willing to stand up for the american people and for american companies. >> i don't agree with mr. navarro. i don't think he's living in the real world. the other countries are not going to put up with. i think it's ridiculous between you and me. i expect pushback from china. i don't think there's any question about that. the question is are we in a position economically to really fight them? >> everybody take a chill pill. [laughter] >> this is how you get the chinese to the table. when you impose a tariff which i
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agree with others on your panel, it is a tax, this is how you get them to the table, this is how you have serious talks about leveling the playing field. maria: i want to read you, governor, mick huckabee's tweet. i will be at maria bartiromo and will let loose to surrendering to pelosi. >> that's easy to say from the outside looking in but as i said before, i believe strongly that we have a mandate to provide for the security of this country and in order to be able to get the gains we did for pentagon and national security apparatus, there were concessions that had to be made. >> i love it. he's a great congressman, tell the democrats we will fund military but not pet projects and you can either be the ones that keep us from having a strong military or you can join us, if you think we are wrong, you get elect today majorities. these guys need to start learn
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to go play hardball. dagen: now we know at least one person who is not going to be running for the presidency ever, mark zuckerberg. [laughter] maria: we know the companies have more power than they ever had and more information about americans than they ever had. >> we will be holding hearings, the irony here is a lot of americans are okay with what we would call edge providers, google, facebook, knowing something about you so they can give you recommendations. a lot of americans are fine with that and a lot are not. the problem is right now in many cases no one is asking your permission. maria: you say you wish you would have known the importance of having a budget. >> the importance of having a budget is just being in control. you telling your money where to go instead of wondering where it went. dagen: for your first marriage go to white house -- courthouse and tell people to send you checks. maria: forget all the china, you will not use the china. >> maria, what we need to do is
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fifteen percent or more. in israel and the former soviet union who are not going to be able to celebrate the passover without our help. - [narrator] there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - [woman] this is a crisis. these elderly holocaust survivors are struggling to survive. they're starving, have little money for food, electricity, or medicine. - [narrator] just $25 provides one needy elderly holocaust survivor in the former soviet union with a special emergency food package that contains a note saying it's from christians and jews in america and canada who want to bless them. please call right now. - in ukraine, there's no support network. they don't have food cards or neighbors that come in to help. they're turning to us
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because they have nowhere else to turn. - [woman] the bible teaches blessed is he whose help is in the god of jacob. he upholds the cause of the oppressed and gives food to the hungry. - [narrator] these special passover food packages represent a gift of life for destitute elderly jews in the former soviet union. just $25 provides one elderly holocaust survivor with a special emergency food package. please call right now. - [yael] what i pray is that you won't turn your eyes but you will look at their suffering and your heart will be changed. - [narrator] we pray that god will move upon your heart to act right now and send an emergency gift of just $25 so that we can help more frail and lonely elderly holocaust survivors in the former soviet union before it's too late.
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mary met good friday morning, thanks for joining us, happy friday, it is march 23rd. it is 6:30 on the east coast, the selling continues, major indices selling off overthrowing fears of a trade war. donald trump signing a tariff against china triggering more selling. >> depending on the way you calculate. $504 billion. some people would say $375 billion. anyway you look at it it is the largest deficit of any country in the history of our world.
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>> tariffs on us goods going into china. markets, look at the selloffs underway. it is down one and 2%. in asia overnight sharp declines across-the-board companies average the worst performer down 4%. more selling, futures indicating a lower opening, expecting a decline of 122 points. the s&p is down 9 points and nasdaq down $.50. it issued a subpoena to the justice department for document in the email investigation. the focus turning to the test driver and how the company selects those drivers.
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the woman behind the wheel was a convicted felon. one nfl player walking back and from protests picking up the phone. sister jean and loyola chicago living on a prayer, the latest from sweet 16 where michigan dominated again. in washington dc across the country, they push for stricter gun laws. a survivor of the parkland school shooting, you will not be attending the march. >> the action will change. maria: is it important to be there with your classmates and others? >> amazing they can march but i'm taking the fasttrack
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pushing a change, i could march but my time would be better spent meeting with legislators. >> how did classmates respond to that? you are not doing the important things they are doing. do they welcome the fact you are taking alternative viewpoints? maria: there he is with the president and first lady. >> curious how they respond to that. >> meeting with legislators, to explain your point of view and what is necessary is more important than walking down washington dc. we have a different opinion but i believe if you want change you go to the legislator. >> what percentage of your classmates are marching? >> i don't know the percentage, 90% in parkland or washington dc. >> you got a large percentage
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of classmates marching, viewing the marches, really serious? >> they are coming seriously but a four day trip to washington dc, why not? maria: we see a time magazine cover, several of your classmates on the latest cover of time titled enough. you were not in this picture on the cover of time magazine. did they ask you to be in the shot? >> i didn't know time magazine was still a thing. maria: why do you think that is? >> they were trying to represent one point of view, the democrat point of view, the anti-gun movement. i couldn't tell you because if
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they are trying to get the full perspective they would ask me. maria: and conservative view on this topic. spirit airlines tweeted about it, i will show you a tweet here, just landed in baltimore, they fear -- the march for our lives. it says on the petition trying to categorically ban ar 15s and make everyone clapped. can anything be nonpolitical anymore? spirit tweeted an apology and said one team member, individuals, we don't believe politics should be part of the guest experience looking at incidents, we apologize to any guests offended by these, is this apology enough? >> i wasn't offended. i just thought it was stupid and unnecessary, giving a
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speech for all the passengers how much they support the march. maria: talk about your views, that is the crux of the story. the fact that you have taken a different position, not looking for an impact on the second amendment, you say there are rules in place, missed signals, where are you? why are you seeing pushback against your views? >> i'm not taking the majority opinion on this which is everyone following the talking points. i have looked at all the facts and came to the conclusion what i think i'm doing is what needs to be done versus marching and screaming about gun control. dagen: democrat and republican lawmakers, where do you see
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consensus among them in terms of tightening gun regulations, we have tight gun regulations, where do you think they can all come together and do something? closing the loopholes or trying to tighten the background check database. >> every legislator across-the-board don't want to see this happen. ever again. every lawmaker agreed, people mentally disturbed can't acquire weapons and want to make your background checks implemented, the information going through. they went to see the full reporting of information of disturbed individuals. maria: there are changes happening in terms of security. the superintendent says
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students are going to be required to use clear backpacks and metal detectors, do you agree with these rules? what about this clear backpack? >> if this is what is necessary to make sure this doesn't happen again we shouldn't at t school? >> let's do everything possible to make sure school is safe. might be discomfort for some kids who might wait a few minutes, hopefully not 3 hours but that is what it is. maria: good to see you again. house judiciary committee subpoenas the justice department, we knew it was coming and have more on it this morning. march madness rolls toward the
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elite 8, the upset and triumph coming up here. [fbi agent] you're a brave man, mr. stevens.
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your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.
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maria: markets are low, heavy rains in southern california have residents on alert for mudslides. >> this is two month after deadly mudslides killing 21 people.
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rainfall as high as it is, 30,000 people told to evacuate. we are seeing more about sunday's fatal crash in arizona involving a self driving huber the a call. we have shown this video, it is disturbing to watch, the safety driver, 44 years old was a convicted felon for attempted armed robbery along with a number of traffic violations with the police video shows him looking down as you can see before the car struck and killed a female pedestrian. huber said that it met standard background check requirements and he does still work for the company. the house judiciary committee is slapping the justice department for document related to the clinton email server investigation. chairman bob goodlatte said there was no choice and they only received a fraction of the documents requested months ago. he spoke about this on sunday
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morning futures. >> need to have those documents. the department and the bureau have been slow. i would say very slow in getting them to us. last time i was on your program i was confident those would be forthcoming and here we are several weeks later, still don't have them. maria: the justice department has two weeks to comply with this subpoena. the cloud storage company dropbox buzzing the price of shares in its initial public offering to $21, the second hike for dropbox, they previously set a range of $16-$18 a pop. this shows strong demand among investors. share start trading on the nasdaq, the symbol is dbx, the company is valued at $8 billion, we are talking about big tech companies struggling, however unicorns going to do. maria: we will see how the deal does in the face of a down
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market. we knew this was coming. i find it extraordinary that they can request these documents. how is it possible the fbi blows off the committee that has jurisdiction over it? >> this needs to be directed at jeff sessions, the entrenched old-school lifelong government workers who are part of the problem. jeff sessions recused himself, what about rod rosenstein? >> somebody has to enforce this. >> the numbers look so ludicrous. >> 1 million documents, a chunk
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of those. >> the oversight committee went into the hearing, you were officially served. he handed the subpoena to the fbi, they still didn't comply. >> the inspector general's report, less than a week since andrew mccabe got fired. >> the real backbone, typically lean to the left and certainly, they are anti-trump. >> we have devon nunez on. then your arm hurts. chairman of the intel committee, take a quick break, eric reed walking away from
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kneeling. a big supporter of colin kaepernick saying about the pregame protest, the stink of the hornets, charlotte makes nba history with a massive blowout. ♪ we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. ♪ ♪ keep your most valuable insights hidden from your competitors. the ibm cloud. the cloud for smarter business. the ibm cloud.
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there's no enrollment window... no waiting to apply. so call now. remember, medicare supplement plans help cover some of what medicare doesn't pay. you'll be able to choose any doctor or hospital that accepts medicare patients. whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. maria: four games and three upsets in march madness. >> out of 17.3 million brackets in the tournament challenge,
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349, somewhat remarkable considering the unlikelihood of these results, a matchup of wildcats, kentucky favored to be kansas state but they scratched the layup for barry brown with 19 seconds left, scoring the upset 61-58, one win for the first final four since 1954. the wildcats play saturday in the elite eight, the 11 seated ramblers from loyola chicago. hope you understand i was born a rambling man and it is not time for leaving yet, 69-68, they are in the elite eight for the first time in 65 years, sister jean getting lots of brotherly love from the players. and another number 9, football powerhouse florida state knocked out the runner-up, seminoles when 75 in the regional finals for the third
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time. the only game is 12 straight. 99-72, michigan plays florida state including the only number one seeds left. record-setting night in the nba, charlotte hornets the 6 team ever to win by 60 points or more. wild night dwight howard served 1-game suspension, didn't matter. the hornets did something we haven't seen, walker hit 10, 3-pointers, a team record, they win by 61 points, only 28 minutes since the shot clock. johnny mandel making a come back, sober, looking healthy. attracted scouts from 13 nfl teams in san diego.
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unemployed safety eric reed, one of the original national anthem kneelers with colin kaepernick says he is not going to kneel anymore. he says the message was understood, they were not protesting the national anthem. when you and your significant other do yoga do you try to re-create the scene in dirty dancing? tom brady and his wife did. they had the time of their lives and never felt this way before. >> i didn't want to know that. dagen: somehow managed to become even more. keep it to yourself. keep it to your self. >> what you do, you can't keep your eyes off of it.
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>> 13 scouts, he is ready to play football. he has been so sick for a while. >> i love to see it happen. >> tiger woods we are all rooting for. dagen: let's not compare johnny mandel to tiger woods. >> correct. dagen: he can't play professional football. i wanted tom brady to fall. maria: they are perfect, each understand they are perfect, that is it. fox news headlines 24/7, we will be right back. you know what goes here... and your approval rating... goes here. test drive the ztrak z540r at your john deere dealer and learn why it's not how fast you mow,
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get a total value of over eleven thousand dollars on this silverado all star when you finance with gm financial. find new roads at your local chevy dealer. >> maria: good morning many welcome back. um maria bartiromo. thanks for joining us this friday. it is friday, march 23rd. your top stories right now. a sea of red and it continues, the dow tumbled more than 700 points yesterday amid new fears of a possible trade war after president trump signed strict new tariffs on china. >> we have a tremendous intellectual property theft situation going on, in particular with china. we're going to be doing a section 301 trade action. it could be about $60 billion. >> maria: the chinese government fired back this morning. it says it plans to roll out its own tariffs coming amid the
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tensions. futures are falling once again. i want to point out, this is off of the lows of the morning. we had been down close to 200 points earlier. four wenow we're looking at a de on the dow industrials of 95 points. the nasdaq, s&p 500 are lower. here too, they're off of the lows. let's take a look at global markets, taking a cue from wall street's selloff yesterday. asian markets were hit hard. hang seng and hong kong down 2.5%. european indices, we're off of the lows. the fq100 is down 2/be 2/3 of a percent. lawmakers avoid a government shutdown. they passed a massive $1.3 trillion spending bill early this morning. we break down the numbers as it heads to the president's desk. mcmaster is out, bolton is in. more changes coming to the white house as president trump announced he will replace national security advisor h.r.
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mcmaster with former u.s. ambassador to the united nations, john bolton. it's not the only change. details also this morning as the president's top lawyer in the russia probe has resigned. the first big bank targets guns. why citigroup is setting restrictions on firearm sales by its business partners. plus, with things pretty chilly between republicans and democrat these days, senators jeff flake and corey booker try to settle their differences with a snow ball fight. check this out. the very latest on capitol hill coming up this morning. but first, we have breaking news we want to get to right away. there's a hostage situation under way right now in southern france. several people are being held at a supermarket, being held hostage. reuters is reporting this, that the man holding the hostages claims allegiance to the islamic state. we will bring you any more information as it becomes available. again, we do have a hostage situation right now in southwest france with the person holding the hostages saying he is
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working for isis. investors meanwhile, lawmakers back in the united states are eyeing facebook. the stock had a tough week. it is extending the losses this morning after facebook officials were grilled on capitol hill over the company's data mining controversy. now lawmakers are calling for ceo mark zuckerberg to testify before congress. the house energy and commerce committee released a statement yesterday, reading in part we felt that many questions were left unanswered. we believe as ceos of facebook he is the right witness to provide answers to the american people. joining us now is the managing director, roger mcnamee. you have been a major supporter of facebook over the years. first, let's put this in context. where do you stand on this past week? >> i just think this is a tragic situation. facebook operated the company as though it was never going to have -- take any interference with anybody. ist was going to grow as rapidly
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as it could. in the process, it has made mistakes. there has been loss of the user pro hprofiles, a 50 million of m to cambridge analytica, an untold number to other software vendors. that i'm vacation of privacy is something -- invasion of privacy is something people can't get back. facebook has to come forward and accept responsibility for that and some other things have gone on relative to the elections. in my mind for mark zuckerberg and cheryl sandberg, this is a moment of truth where their character is being tested and so far it's not going well. this has been a disastrous week for them. >> maria: you don't like the way tear responding to this? >> no. i think they have a horrible situation. the right answer is you eac reah out to the critics, find out what the problem is and make an effort to address it. what's going on instead is they're pretending as though there's no big deal going on, they're saying nothing to see
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and they're taking the notion that no one has a right to criticize them. >> maria: it's interesting because this is not new, right? i mean, plenty of outside vendors have used the opportunity to get and in a sense infiltrate into facebook's network of users. how come we're just learning about this now and reacting now? i mean, you go back to the election of barack obama, and how people used -- politicos used mining of all this data and people's data to figure out how to get those voters. >> you're absolutely correct in that this idea of data mining has been around for a very long time. there are a couple things about this one that are really different. when obama did it there was full disclosure, people understood what was going on. that was the correct way to do it. that's been the tradition for marketers. you provide complete disclosure. people have to give informed consent. what's gone on with facebook is they consciously deceived
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people. they had an opportunity -- well, they signed a consent decree with the federal trade commission in 2011 that basically said they would require informed consent before they shared people's data. what happened with cambridge analytica is cambridge analytica apparently sent a researcher in to pretend he was going to do academic research when he was really going to gather data for political use. they didn't just take it from the 270,000 people who took the survey. they took all their friends. so 50 million people. >> maria: that's incredible. >> that's why people are afraid. the problem is now we understand that wait a minute, there were literally tens of thousands of other vendors doing exactly the same thing while the consent decree was going on. it's alleged that facebook had no compliance staff to enforce the consent decree. that is just irresponsible. that's why people are so angry. it's like the data's out there and there's no way to get it
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back. there's no way to undo the harm. so that's why people feel so bad about the communications this week. this is a situation where you're supposed to go oh, my god, we've done some something really horrible, how can we make it up to you. it's not like we can get the data back but there's a lot of things facebook can do to show they're going to earn their trust back. that's what they failed to do. >> maria: mark zuckerberg did one interview, anderson cooper on cnn. >> the problem was that mark did several newspaper interviews and one tv interview on cnn. the problem was he memorized the series of answers and gave the same answers to everybody. >> maria: it didn't seem sincere. >> the people who did the interviews were not main line reporters. they were entertainment people. when cheryl sandberg went on cnbc, it was like why didn't she
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come on this show? obviously she was talking to somebody who was as well studied and and well studied in technology as she. the person she interviewed with on cnbc was a fine reporter but this is not her field. this is not what she does every day. i look at this as from cheryl's point of view, she wants to get out there and have people understand that she sincerely wants to solve the problem and those not what she's doing. >> maria: we did reach out to facebook and i sent an e-mail and they didn't get back to us. they didn't want to talk in that context. >> it's their loss. >> maria: thank you. let me ask you this. facebook has been roped into the special council investigation, robert mueller's probe. investigators are looking into the connection between president trump's 2016 campaign and the cambridge analytica story. roger, you explained it and the difference. zuckerberg should hand over the data not just from facebook but also from instagram, right?
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he's got a lot of data that is going to be analyzed by the special council. >> facebook's problem is when they discovered cambridge analytica had the material incorrectly, they said to them you have to destroy the stuff. they didn't validate it had been done. six months later, facebook had employees working with cambridge analytica on the trump campaign, working with the very stuff that was supposed to have been destroyed. that's where the problem is with the special prosecutor, because facebook knew, the management knew that they were working with ill-gotten data. and you're not allowed to do that. the problem with cambridge analytica is they're not an american company. you're not -- as a non-american person without a green card you're not allowed to work on a political campaign. >> maria: did they just not want to deal with it? >> i think they don't think of that kind of stuff. they have 2 billion members many i think their view is we're
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going to 4 billion members and we're not letting anything get in the way and regulations, not their problem. >> maria: it looks like the regulatory environment's going to get tougher now. >> it's a tragedy. when you grow big you're supposed to grow up. and i know these people. they are better than what's going on right now. and i would just love to have them sit down, just go guys, get this right. this is not that hard. >> maria: from a stock perspective, what are we talking about now? 10% decline this week? >> this scares the heck out of me. this is a business based on trust and how can you trust them with the way they're behaving right now? i think users are absolutely within their rights to change their behavior. everybody needs to understand, anything you put onto facebook could disappear. it could go to bad people. there's no way to get it back. you have to be smart. facebook was a place we all trusted. i don't know how we get back to that. as investors, that worries me. i'm not worried about tensioner. i'people won't trust them as mu.
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it will be tough to earn the trust back. the first time they came out to talk, they blew it. >> maria: the growth story has changed. putting earnings aside. >> the stock story has changed. i still own the stock. i don't do the trades myself. i had somebody else now manage it because i'm involved in this thing. they sold some stock this week because they wept this is went s terrible. i'm going it's been terrible for ages, why did you pick this week? they said this is the week they lost trust. >> maria: it has to do with the way the leadership behaved, what they did. >> how many times have we seen this? we remember how johnson & johnson handled tylenol. that guy went in and poisoned a few bottles and tylenol. johnson & johnson said these are our customers. we have to take care of them. i look at facebook and facebook, their customers are the advertisers. the users for facebook are the product. but the truth is, there are
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times when you have to treat the user as your customers, as your partners, as family. and they blew that. this was a chance they could have been a hero in this movie. and i don't know what they do now. i think this is really difficult. i hope they get it together. >> maria: you know that zuckerberg is going to go testify. what kind of -- >> i hope he goes to testify. >> maria: i hope so to. when he was talking in the tv interview, he said maybe if i'm the best guy, if not, not. he wasn't really committing to it. >> it was terrible. he said something like i don't understand how anybody who would sign a certification that they destroyed the data wouldn't do that. i'm going dude, you signed a consent decree with the ftc. as far as i can tell, you didn't actually have any compliance for it. you've got to be kidding me. he says i don't think -- we think we don't affect elections. i'm going give me a break. you put out white papers talking about how you influence elections. i look at this and i go guys,
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you need a new p.r. firm. >> maria: on a day that we just came off a 700 point selloff in the dow yesterday, facebook's looking down again, we're expecting perhaps more regulation in the entire sector, what do you want to do here as an investor? is this just a facebook story for you or do you want to step away on a whole bunch of tech conditions in the face of all this? >> i don't think it's just tech companies. i think tech remains a leader in our economy. i worry that we're almost 10 years into a bull market, maria and when i was last on here we talked about this issue that we were coming towards the end of a bull market cycle and once you get into a situation of tariffs and trade wars, you have to look at lower growth and higher inflation. that's not -- i don't know whether the market's going to bounce back from this in the short run. when you look at it longer term, the outlook just isn't that good. i mean, we haven't had a serious correction, a long-term correction in 10 years. it could happen any time. i can't predict whether it's
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this week, this month, whenever. but personally defensively postured and have been for frankly more than a year because i worry that we're going to have higher inflation and lower growth. and you and i have been around long enough to remember taking disstagflation is like. >> maria: this on the week that the federal reserve raises interest rates for the first time this year. >> seen this movie before. >> maria: exactly. it's great to get your insights. >> it's always fun to be on. >> maria: we'll take a break. when we come back, national security advisor h.r. mcmaster is out. we break down the latest white house shakeup and the main stream media's reaction to his replacement. john bolton. citigroup taking a stance on gun control. we'll have details next.
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>> maria: welcome back. we have breaking news. a police officer has been shot and now there is a hostage situation in southern france. lauren simonetti has the headlines now. >> lauren: we're monitoring this story, maria. a person pledging support to isis is now holding hostages at a supermarket in southwestern france. police have surrounded that supermarket. they're treating this as a tear wristerrorist attack. one police officer was shot about 15 minutes away from the scene. we're not sure how or if the incidents are related. the last time a jihadi gunman
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shot four people in a french supermarket was back in 2015. also, citigroup they say they will no longer do business with clients who don't follow their new policies on selling firearms. the first wall street bank to enter the gun control debate. citi will require clients to stop selling guns to anyone under age 21 or who has not passed a background check. the policy also bans the sale of bump stocks and high capacity magazines. citi is following major retailers including walmart who are distancing themselves from the nra, the national rifle association. take a look at shares of citigroup, slightly lower in the premarket. take a look at this. two people in that intense snowball fight right there are republican senator jeff flake and democratic senator corey booker. they decided to have a snowball fight after the storm dumped heavy snow in the nation's
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capital yesterday. senator flake tweeted with so many height fights in capitol h, corey and i decided to join in with a snowball flight. who do you think won? >> i think flake won. >> lauren: i don't know if booker bought the pizza but he was supposed to. >> maria: cool stuff. thank you, lauren. >> dagen: there are your tax dollars at work. >> thank you. >> dagen: get to work! >> maria: coming up, we'll speak with ron d dis aantis. plus, understand falling victim to the latest cyber attack. how hackers are holding the city's computer system hoss hos. back in a moment. ♪ i want something else to get me through this.
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reciprocal global trade. china announced that plan to roll out their own tariffs, up to $3 billion on its products, u.s. products including pork and fruit going into china. markets in the u.s. and globally reacted strongly to the news with sharp declines. this morning futures are off of the lows. we're looking at a decline at the start of trading on top of the 700 point selloff yesterday but just about 76 points this morning. joining us is house foreign relations committee member, congressman ron desa de santis. thank you for joining us. you didn't vote for the spending bill. >> no. >> maria: is president trump right to do this trade situation? >> i think it's right to identify the problems with china. people have been talking about that for years. their behavior has gotten worse in many ways. the issue is how are you going to confront china on these things. when you rely on tariffs, the fear is the retaliation against
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u.s., our farmers and other industries that we need to do well, could bear the brunt of that. i think that's the concern. but the focus on china rather than a broad-based action i think is a much better way to go than we had been talking about two weeks ago. >> maria: nobody is surprised by the retaliation. we were expecting china to come back with something. does this impact the economic growth story of the u.s. in your view? >> i hope not. i think it's true that the stock market responded negatively to this and it also responded negatively to the steel and aluminum tariffs. we had been doing well on the trump presidency, with the tax reform, so i think we're on a great course based on what we've done and the congress with taxes and regulations and my fear is that this could potentially throw some sand in the gears on some of this stuff. >> china came back with only $3 billion in retaliatory tariffs. they didn't come back with $50 billion or $60 billion, just
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$3 billion definite giv. >> dagen: give them a few days. >> maria: they have a surplus with the u.s. how much are they going to do here to threaten that surplus? >> this is what i'm saying. this looks like they want to make a deal pretty quickly. is that possible here, they really don't want a trade war? >> it's more possible with donald trump as president because they know he means business on this stuff. it's something he's been talking about for a long time. look at china's behavior, intellectual property, they're constantly doing things that are really core pr core row sieve r. >> are you talking steel or intellectual property? >> of course. >> how are tariffs going to fix that? >> they may not. when you do tariffs, you harm the target but you also harm
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yourself to a certain extent because of the way -- >> maria: that's why they're putting restrictions on investments. they acquire things and transfer technology to china. we've got to get your take on the spending bill. pushed through by the house earlier thursday, the senate passed, $1.3 trillion spending package, narrowly avoiding a government chut shutdown. you did not vote for this. what do you want to happen now? >> i'd like to see the president veto it. i think the reason is, think about what happened. the bill was fleeing other yatesed behind -- the bill was negotiated behind closed doors. the average personnel ected to thelectedto the house and senato input on it. it was put on the house floor at 2:30 in the afternoon, 2300 pages with less than 24 hours, no member read the bill, no member knows everything that's in the bill. they fund schumer's project in new york. they don't provide money for
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trump's border wall. it was for fencing which won't work. you will hear a lot of fiscal complaints about it. what does it say about representative government, if that's the way we do business? that's not the way this thing is supposed to operate. we're five members on each side do this, they log roll and they jam it through. >> dagen: this is actually one of the reasons that we have a trade deficit with all these other nations. we are spenders and not savers. we are running up our debt, handing power to china, the largest holder of foreign u.s. treasury debt. we can't take power away from them. we're at odds. it's like we're going to run $1 trillion annual budget deficit as far as the eye can see, we're $21 trillion in debt. the federal he reserve is stepping away from buying some of that very debt. now we need china to step up and keep dying it. god forbid they ever talk about selling it. we're not fixing the problem at its root.
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>> maria: what were they supposed to do? >> they're exacerbating the problem. if you look at the past -- when obama was pratt president, the omnibuses were less egregious than this. we have certain ideas that we want, defense, president wants a border wall. you have to engage in some give and take in the legislative process but to open up the flood gates and say we're going to increase department of agriculture by 10%, we're going to increase hud by 10%, $200 million for democracy promotion in europe. >> dagen: federal arts funding went up. >> of course it. >> let me ask you a pointed question. paul rand identified a number of things, like $10 million for disadvantaged egyptian students. is there any of that in your district? >> no. >> this is the whole pork barrel back and forth, it's how it operates. >> here's what would happen. if you did a normal legislative
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process there would be a single appropriations bill for whatever department that is and guys like me would be able to strip it out. we would offer an amendment. >> why haven't we done that? >> because when you do the omnibus, they pack everything in and it's a must pass bill and shove it through. there was not a single amendment offered to any of this stuff. >> maria: would you have wanted less defense spending in order to not have some of this other stuff? what were they going to do, say no to schumer, let the government shut down? >> if you had a good defense bill and you had reasonable on everything else but not a blowing out the doors, it would be incumbent on schumer to be the one standing up and fill filibustering into a shutdown. he threatens to filibuster and then republicans cave. i think if the president would -- imagine if the president vetoed the bill, got all these senators and congressmen on vacation and everything like that, he vetoes it, everyone has to go back.
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i think the public would rally behind him. >> maria: you think markets would rally? >> >> dagen: i think markets would rally because it would show fiscal restraint. >> i think the markets would go up even more. >> maria: does anybody here think the president will veto this? >> no. >> maria: you don't think so? >> no. >> dagen: i do believe president trump likes spending money, at the end of the day. >> here's is -- he campaigned on the wall. i think this is maybe the last opportunity he has to get it and he didn't get it in this bill. he got $1.6 billion for see-through fencing, not the wall he promised. >> maria: before you go, are you ever going to get documents from the fbi? goodlatte -- >> he's going to send a subpoena. >> maria: he sent a subpoena. 1.2 million documents, he's only gotten 30,000. >> that's one of the reasons you need a special counsel. there's no reason to stonewalt l like this unless you're trying to protect the bureaucracy. that's what they're trying to do.
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country that should have been done for many, many years. we've had this abuse by many other countries and groups of countries that were put together in order to take advantage of the united states and we don't want that to happen. we're not going to let that happen. >> maria: china is firing back announcing their own tariffs on u.s. goods. global markets are lower this morning. european indices are down across the board. the dax index is down 207 points right now. in asia, declines across the board sharply in japan and china, reports say the chinese state backed funds bought large cap stocks amid the selloff. nikkei average down 4.5% in japan. more selling in the us but we're well off the low. there's a decline at the start of trading of about 80 points. breaking news right now, there is a hostage situation happening
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in france as we speak. the attackers have pledged support for isis. right now, all hostages, except for a police officer, have been freed. we have the very latest developments happening in the south of france. atlanta is on edge, the city threatened by a cyber attack with hackers sending a ransom note. those details coming up. all of that ahead, first this top story. tariff turmoil, china is squaring off with the united states, slapping tariffs of its own on u.s. products including pork and fruit. president trump spoke out on his decision to implement the tariffs, calling the china deficit out of control. >> we have a trade deficit depending on the way you calculate of $504 billion. now, some people would say it's really $375 billion. but any way you look at it, it is the largest deficit of any country in the history of our
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world. it's out of control. >> maria: markets in the u.s. and across the world sold off on that. take a look, dow industrials yesterday at the close down 724 points. that was almost 3%. futures this morning indicating another decline of about a third of a percent on the dow and a half of a percent on the nasdaq, 36 points lower on nasdaq. joining us is sheila bare. behr. your reaction on all of this? >> well, world markets don't like trade wars and so i think we've got some rocky times ahead of us. there's clearly a problem with intellectual problem, whether tariffs are the best way to deal with that is another question. i hope everybody can sit down and get this resolved and get a path forward fairly quickly. markets don't like the uncertainty. longer term china's interest and ours are aligned. china wants to grow its middle class, wants to grow domestic
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demand and wants to stimulate more demand within its own economy and they want access to our markets. we want access to their markets. there's common ground and areas of leverage to get this worked out. there's a problem with intellectual property. it's good he's tackling this. i hope they can resolve it quickly. >> maria: dagen? >> dagen: sheila, it's good to he see you. again, it seems like -- this is the wall street journal speaking as well in the editorial page -- that very happe disorganized ap. we need our allies to come together and take on china and the theft of intellectual property and taking technology from companies that want to do business there. we need those alleys, whether it's japan -- allies, whether it's japan, south korea and europe. instead, we slap on steel and aluminum tariffs and then have to backtrack and, again, it kind of throw these very trading
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partners into a tizzy, if you will. where's the logic in this approach? >> well, i don't disagree with you. i think tariffs are a very blunt instrument. they're having to backtrack now with a lot of exceptions. there doesn't seem to be a lot of consultation with our allies. intellectual property is a worldwide property, not just the united states' problem in terms of how china deals with intellectual property. patience would be helpful. this is a an impatient presiden. he he certainly got everyone's attention. let's hope people can sit down and have those kind of discussions and reach some kind of agreement to get us on an orderly path. >> china came back with only $3 billion in tariffs. they did not load the guns and fire here. this was a small response relative to what we expected. do they just want to cut a deal?
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do they want to get it done quickly and they's that' that'se signaling this way? >> it could be. i've seen reckless rhetoric from some of the administration about we're going to end our economic relationship china. longer term, i think our economies can benefit from each other. i think china recognizes that. i hope we do in the u.s. too. we've got to deal with the i intellectual property problem. >> dagen: i want to point out something, a few billion dollars from china in tariffs, they're targeted. if you target pork, they targeted the very areas that voted for president trump. they targeted farmers. again, soybeans, pork, hogs, and fruit. those are the very areas. they're trying to make it hurt politically. >> that's very true. that's a core constituency for
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the president. it's a calculated move but quantitative terms it's not overly provocative which i view as a good sign. >> this is gary smith in new york. i want to ask you a more macro question. it gets to the whole tariffs thing and your former job as chairman of the fdic. we think -- i'm a free market guy. that's my perspective. we seem to think that we get a bunch of smart people in d.c. and they can control some how like the whic wizard of oz, majr economic policies, the banking regulation, the targeted trade tariffs. wouldn't we be better off, do you think in the long term, just letting the free market work this out instead of relying on arguably smart people like you to try to maneuver the economy? >> well, i like markets. i like markets allocating resources. i think this is one of the reasons why i've been such a passionate opponent of too big
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to fail. i think that definitely skewed markets towards very large inefficient financial institutions. so i do think that we need to let markets work but it also means we shouldn't subsidize certain types of activity. >> agreed. >> industry doesn't always like that. there's a difference between being pro industry and pro markets. republicans and democrats in d.c., you saw it in the tax bill, not much loophole closing, a lot of benefits to special industries that also skew resources towards those favored classes. >> maria: sheila, it's great to get your insights. thanks so much. coming up, atlanta falls victim to the latest cyber attack. how hackers are holding the city's computer systems hostage. plus mail fit for a king. the royal wedding invitations are in the post and we've got a sneak peek, coming up. ♪ we are never, ever, ever,
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getting back together. ♪ we are never, ever, ever getting back together. >>. the women took center ste thursday at the 2018 miami open. the world's number one had to fight hard to stay alive. sigshe waspushed all the way by. the romanian was down a break in the third before closing out the win 7-5 in the decider. she moves on to play in the third round. and sloan stephens also moved on. she eased through in straight sets. it was a dominant display by the american who struggled to find any kind of form so far this season. don't forget, tennis channel's
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live coverage of the miami open hits the air daily at 10:30 a.m. eastern. i'm jonathan novak.
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>> maria: welcome back. we have breaking news right now on the terrorist situation happening in france. one police officer reportedly being held hostage. lauren simonetti has the details. >> lauren: a person who is pledging support to isis is holding a lone police officer hostage at a supermarket in southern france. that according to the mayor of the town. there are conflicting reports at this moment about the number of victims. some possibly dead here. we know all hostages, except the police officer, have been freed. police have the supermarket surrounded. they're treating this as a terrorist situation. there have been reports of a police officer shot about 15 minutes away from the scene of the supermarket but we don't know if those incidents are related just yet. well, the hacker has been identified as a russian intelligence officer.
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investigators say the identity was uncovered after he accidentally left a clue online claiming responsibility for providing wick wiki leaks with democratic e-mails. robert mile muelle mueller has r the investigation. a ransomware attack has shut down atlanta's computer network. they are demanding a bitcoin payment to unencrypt the files. atlanta is trying to find out how widespread the attack is and whether any personal information has been compromised. and the hottest ticket of the year is in the mail. prince harry and meghan markle sent out their invitation toss the may 19t -- invitations to ty 19th wedding. 600 guests have been invited. it's a service and luncheon
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which will be hosted by the queen at windsor castle. i can't wait to see the dress. >> maria: it will be quite the affair, we know that. thanks, lauren. coming up, america's last keg maker voices concerns over new tariffs. we'll talk with the ceo of american keg company about the potential implications for his business. back in a moment, right here. ♪ bye-bye, i'm leaving. ♪ you can keep your mansion and your money. tier with companies that are developing powerful batteries that make everything from cell phones to rail cars more efficient. which helps improve every aspect of advanced rail technology. all with support from a highly-educated workforce and vocational job training. across new york state, we're building the new new york. to grow your business with us in new york state,
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>> maria: boozers could be loser as president trump's steel tariffs go into effect. the new trade policy is aimed at bolstering domestic industries. america's last keg maker is expecting to get tapped out. joining us is paul zacher. it's great to see you. >> thanks for having me on. >> maria: you're seeing a direct impact from the steel tariffs affecting your business. tell us what the impact is. >> the tariffs have some unintended consequences. today we manufacture all of our stainless steel kegs with domestic steel, all steel from the united states. as the tariffs were being discussed and implemented, the cost of domestic steel has continued to come up, rise since the fourth quarter of last year. but unfortunately, the imports that are coming in, finished good products, mainly say chinese kegs, there is no tariff on it. so our price differential between an import keg and
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domestically made keg is continuing to increase which is something i don't know where the customers -- where their breaking point is at this point. >> maria: which is why we like to look at the story from the consumer standpoint. they're going to see higher prices. >> they're already paying a little more for your kegs anyway bough it's american made. you're not the low cost keg maker. at some point the businesses say i just can't make a profit if i have to pay more for your kegs. how does that affect your workforce? what does this do to employees on the ground who are at your plant, trying to make a living here? >> we have a lot of patriotic customers that want to buy american med kegs. as the costs have been going up the last few months, we have to raise our sell price and we're starting to lose some business. so just recently we had to lay off a third of our workforce. >> maria: how much have you raised prices? >> our prices have probably gone up about $5 to $8 per keg. >> maria: the u.s. trade representative testified before the senate finance committee
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yesterday. he he confirmed that certain countries will be exempt from the steel and aluminum tariffs. listen to this. >> what he has decided to do is to pause the imposition of the tariffs with respect to those countries. we have the two nafta countries, which we know where they are. we have europe. we have australia. we have argentina. we have brazil. obviously korea, we're negotiating the course. >> maria: isn't this one helpful thing for you? does this not affect things? >> i think what we would explain is there's unfinished business with tariffs. we need the administration to look at what we would call a holistic view. if our input costs are going up and countries are able to import kegs with low cost steel, we need the administration to look for downstream as businesses such as us that use a high content of steel and look at some sort of tariff. >> one of the things we talk about a lot with tariffs, even
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with the exemptions, it creates uncertainty for businesses. you don't know how to petition for the exemption. how does that affect a smaller business like yours? >> it's difficult. to your point, we don't know what the future holds. it's unclear where the tariffs are going. we're very concerned. >> maria: tell us about this keg right here, the one we have on set. >> it's all stainless steel. it's domestic steel, all trough duesed here in the united states -- all produced here in the united states. we market to 6,000 to 7,000 customers, mainly craft brewers. so wineries will buy kegs. >> maria: what does this go for? >> that sells for approximately $80. that's a one-sixth keg. >> maria: do you expect you'll have to lay off more people if we see these tariffs stick?
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>> if these tariffs stick and there's no help for us, like as a downstream business with import or low cost kegs coming in, we'll be in some deep trouble. >> maria: that's too bad. thanks for sharing that with us. still ahead, toys r us gearing up for its liquidation sale after postponing it for a day. details on the closeout sale, right here. stay with us. ♪ you know what goes here... and your approval rating... goes here. test drive the ztrak z540r at your john deere dealer and learn why it's not how fast you mow, it's how well you mow fast.
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maria: welcome back. good friday morning. thanks so much for joining us happy friday to you i am maria bartiromo. it is friday, march 23 top stories right now 8:00 a.m. on the east coast, stocks plunging dow jones industrial average tumbled better than 700 points yesterday amid fierce afr possible trade war president trump signed new tariffs on china. >> we have right now an 800-billion-dollar trade deficit with the world. let's say we have 500 with china. we have 800 total. where the world that would mean china is more than half. so we're going to get it taken care of it is going to make us a much stronger much richer,
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nation. >> chinese government firing back they say they will plan to roll out their own retaliatory tariffs amid tensions futures in red again a take a look what has tan place this morning down 200 points on dow jones industrial average a complete referral of fortunate market about to go positive territory dow industrials now down 6 points s&p 500 up one and a quarter point nasdaq off the lows down a quarter point seeing a big move in markets, this morning, to the upside, global markets look like i this this morning, here, too, asian markets lower down 4 havd% steep declines in china as well shanghai composite down 3 and a third% hang seng down two and half percent in europe we are well off the lows take a look at this situation ft 100 down two-thirds of a percent kang contact down 1 and a third, dax in germany down 1 and
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two-thirds% we have a deal lawmakers would i a shutdown passing massive spending bill we break down numbers as it heads to the president's desk we heard from desantis wants the president to veto it mcmaster out bolton in changes to the white house president trump announces he will replace national security advisory mr mcmaster from former u.s. ambassador total united nations john bolton details as president pop lawyer in you been russia probe resigned breaking news a hostage situation in france, happening as we speak, the attackers intelligentlied support for isis all the hostages except one police officer freed, kellyanne conway says the white house will draest the situation this afternoon, we have the very latest developments out of this hostage situation in france. here comes the deal, toys "r" us cutting prices as it prepares to close 800 u.s. the others very latest as it begins the a liquidation this morning stories coming up
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joining me to talk about it fox business network dagen mcdowell kings college business economics broefr brian bren bering, gary smith great to see everybody. >> referral of fortunate. >> let me point out something it may be me when we came on 6:00 a.m., i said i was optimistic. maria: you did. >> -- then, look what is happened maybe it is -- >> maybe it is. >> has to be right dagen i'm sorry. dagen: i said yesterday i said look out for lows that is what i said. maria: look. >> i think there is a lot that you do have an administration that is fomenting uncertainty when it doesn't need to not talking about tough on china but the way you are doing it, uncertainty through steel, aluminum tariffs. >> isn't trump -- does a lot of things right does a lot of things wrong but he is affecting change though don't you this i that is good. dagen: affecting a down -- in
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stock market -- >> hey -- >> 30% from election -- dagen: quickly president trump used the stock market as a barometer for success repeatedly on twitter over and over and over and over again, i'm curious what you think. maria: obviously markets are talking don't like trade situation you mentioned earlier they don't like 1.3 trillion-dollar spending bill, either. >> they want to get over it quickly with a look is happened get over news quickly they have done it time and time again looks likes might be the case. maria: a buying opportunity? >> i think it is i i think with trump always a fire first ask questions later, he puts biggest move, moves queen first later on all rooks not as bad as people think john dowd leaving yesterday i think that is something heart to
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quantify. >> uncertainty about legal situation, the special counsel robert mueller investigation i think it is on the margin adds more uncertainty. >> markets don't like uncertainty this market has come back we are expecting perhaps a higher opening for the broader averages this morning we will see get to if top story right now trade war fears hitting global markets stocks across asia tumbling following wall street dow jones industrial average down more than 700 points after president trump proposed tariffs up to 6 o billion dollars on imports from china with with tighter restrictions on down's acquisition technology transfers in response to what the administration is calling china's unfair trading practices. >> we're doing things for this country that should have been done for many, many years. we've had this abuse by many other countries and groups of countries put together in order to take advantage of the united states. and we don't want that to
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happen we're not going to let that happen. it is probably one of the reasons i was elected maybe one of the main reasons. >> hours later chinese government fightered back saying that it plans to roll out retaliatory tariffs up to 3 billion dollars on u.s. goods, in response to the tariffs on steel and aluminum, those tariffs go into affect today u.s. says some canada mexico eu others will get a briefs exemption from those tariffs joining us the author of the coming collapse of fortune are a gordan chang thanks very much for time china retaliating what is your take on all of this? >> well, it was a very small retaliation, three billion dollars, 128 products we've got to remember chinese ambassador to the u.s. says look, you know if we're going to have tit-for-tat action let's see who lasts longer i know who lasts longer the
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united states because we are the trade deficit country, china needs us much more than we need them, you know last year, 88.8% of their overall merchandise strayed surplus related to sales to us, you know we hold hard cards in a trade war. maria: they need us more than we need them we're talking about 375-billion-dollar deficit, are they going to threaten that surplus ramping this up or do you see he three billion dollars in tariffs as sort of soft move? not -- you are talking -- in u.s. three billion in china how should we read that. >> i actually think what what we're seeing chinese trying to say we will hurt you not to a much we don't want to you really get angry i think, that president trump, has a lot of political will, that is really what is important in a situation like this, because, you know fundamentally, we you know a lot of people criticize president on tariffs steel, aluminum now 301, the point is
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we've got to trade outlaw at center of the system of global commerce that is china, we have tried to entice chinese into accepting norms ruled in international congress they won't do that about as a matter of fact getting worse more predatory more mere can't tilless, someone has to do something if they don't trading system that we've had since the end of world war ii is just not going to survive. maria: yeah want to point out markets here we had been down earlier in the program gordon 200 points on dow jones industrial average when first navigating through news from china retaliatory moves market completely reversinged course now a gain start of trading 57 points on dow industrials, and 7 points hi on s&p 500 do you think this is a negotiating move by this president? i mean also putting restrictions on what china can acquire how much. by the way, that is what china does right? i mean, american companies can't go to china and own more than 489% of anything, by the
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way, they -- 49% of anything can't own a company with a joint venture. >> that joint venture point is crucial at hart of 60 billion dollars loss of u.s. intellectual property you know we look at numbers annually staggering, between 225 to 600 billion dollars annual loss u.s. intellectual property. most of that is related to china, this is something that comes from the bipartisan blair huntsman commission 2017 update to 2013 report this last, staggering people who don't like what the president is doing, have got to come up with a better way, you know it is fine to say look, we should align our interests with china should have consultations but we have been doing that and trade area in terms of since end of 1990's hasn't worked. >> i am told that the president wants to cut the deficit the trade deficit down by 50 billion dollars with
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china. i am told right now 375 billion i am told he wants to get it down, to 325 or 300 billion will he be successful before another subject gordon. >> i think we will overtime we o hold high cards i think people in united states have gotten tired talking to chinese now want to impose costs absolutely right way of dealing with this situation. >> there is more turnover at white house markets reacted yesterday when president announced replacing national security advisory h.r. mcmaster with former u.s. ambassador john bolton third person to fill that role that appointment, both in potentially what could that mean for american foreign policy as relates to asia in your view? i think he foreign policy will will become much more recess duty ambassador bolton understands the primary problem the world has in asia and, of course, u.s. as well
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is china bolton has views about china i think align closely with president trump's that is going to be good, because the problem that h.r. mcmaster had was on certain critical issues didn't see the world the same way the president did every president deserves a national security advisory who shares this is views. >> what is your take in terms of coming up, potential meeting with the leader of north korea? gordon? do you think this happens in may? >> i don't know if it happens in may. but it certainly happens the reason is that kim jong-un the leader of north korea needs sanctions relief i think president trump may may made the right decision 45 minutes came up with the right decision to meet with kim the reason is, that kim jong-un in addition to sanctions relief wants to drive a wedge between seoul and washington moon jayen wajts this summit going to happen if we say strong with south korea we al get
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acceptable outcomes may be good ones. >> china watching as well low the president puts into which role. you say jane bolton will be more resolute what does that mean in terms of how u.s. changes strategy in asia. >> i think what we're going to see a a much more confrontational posture with regard to chinese, china trying to close off the global common sense trying to grab territory from neighbors challenging u.s. across the board even attacking our system of government i don't think john bolton will put up with that. >> yeah. a lot of these things have been known for a long time, right? i mean everybody gets it when you say yeah china steals our stuff sealing intellectual property businesses have been taking this, for decades. >> yeah, i mean individual businesses can't stand up to beijing. >> wrut. >> we shouldn't expect them to we should expect president of the united states to protect american works american businesses unfortunately you know we've had this view of
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oh, let's just talk to chinese, let's try to get them to see their better interests yeah they should see their better interests but they don't you now have a president in president trump says look we've got to try something different might not work but if we do the old things, we know we're going to fail so i think that we should all be applauding when president trump is doing in this regard trying something new. maria: all right. we will leave it there watching that gordon great to hear from you thanks so much. >> thanks, maria. >> gordon chang. >> xhooin averts a shutdown taking a look, the end of toys "r" us as we knew it details on the liquidation sellale righ here. ♪ i've got to move like that ♪
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surrounded the suspect fired at police officers about 15 minutes away from supermarket scene hitting one in shoulder before they ended up at supermarket, that officer's injury not life-threatening but as you know france has seen a number of terrorist attacks in recent years counselor to the president president trump kellyanne conway toll fox news this morning the white house is monitoring the situation. >> tragedy night in new york as firefighter is killed, battling a five alarm blaze in harharlem flames broke out at the basin of a closed club the engine company the first to arrive rushed to basement officials say once they got down there the fire became too much forcing them to retreat out of the building davidson got separated from group the firefighters did find him he was unconscious, and could not
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be rerevived 37 leaves a wife and four young children. >> capitol hill shutdown aveteransed senate approving 1.3 trillion-dollar budget deal. >> the yeas 65 nays 32 motion to concur is agreed to. >> republicans voted against the electrocution led by senator rand paul as expected said there is too little time to read the bill it is more than 2,200 pages long legislation will lift military spending 80 billion dollars, about domestic problems 65 plan concludes 1.6-billion-dollar funding for the border wall the president wants now this bill goes to president trump's desk for his signature. sad day in toyland liquidation sales at toys "r" us win consumers is expected discounts yesterday they saw
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unforeseen circumstances act fast because they don't have much inventory especially on the new stuff, on sad note the founder of toys "r" us died yesterday he was 94 years old. gentleman incredible legacy of his breaking news as you were speaking on screen fast company magazine reporting target kroger in discussions for merger we don't have more than that look at stock prices right here gary, targets up 2 and two-thirds% krogen up almost 7% here obviously the retail secretary of state by if you are kaits he by if you are i indicated. >> there was a headlined in post grocery wars, because amazon is coming in there, like winn-dixie stores closing amazon impact across retail sector exciting.
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>> target kroger. dagen: specific to target struggling in grocery target failed to keep up with wal-mart as wal-mart moved deeper and deeper into grocery, and has become a criticality important part ofwall mart's business a way for target to step up its game. >> i was surprised kroger in my experience in supermarket industry one smart cookie fought off people food lion a number of others if they can go anyone can. >> lot changed after amazon acquired whole foods. >> amazon bringing whole food prices down big time, causing -- that is the problem for kroger and target whole foods viable for average middle class -- >> slook what -- talking about a merger fry try to get that official coming up we will break stay with us. how do you win at business?
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selling off european european following u.s. lower as worries over china tariffs weigh on investors we are about an hour away from opening of trading this morning we had seen a complete he referral of fortunate this morning dow industrials down almost 200 points a gain at opening of trading 13 points on the dow, a gain of 3 points on s&p 500, joining us right now morgan street capital management ceo cio, mark you have been hedged for about a year now. >> yeah, we started getting hedged end of last summer. were you expecting this market to trade down. >> you never expect it to trade like yesterday yesterday tough o sell-off we looked at the beginning of the year,
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pretty conceptically a big move last year up 20 plus percent the end of january, was a big turn in momentum, really kind of made a top that last day of january there has been a top we call distribution people buy early in the morning the big money comes in sells in afternoon that has been happening, most days over last six weeks. maria: why? why negative on this market. >> couple things one valuations high been high why can't they keep going up they have to have higher earnings earnings growth i think have peaked i think we had the big euphoria around the tax bill i think what is happening now is companies realizing wait a minute i still have to compete, there is a lot of deflationary forces technology demographics putting pressure on earns, interesting so we talk trade all morning, how that is affecting markets, you know yesterday the big sell-off now today coming back
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i think that is because markets look how china responded said this is not as big of a response as thinking we're going to have the u.s. tariffs don't go into effect 45 days a lot of time to cut a deal there is a lot of negotiating going on not going to be the trade war we thought are you in agreement with that? >> well wars have no winners i am hoping you are right this is bluster there really isn't desire to go through -- i have been tweeting a lot about two words, smoot haley, tariffs horrible idea why do we think going to work this time this thing china thinks differently than everybody else they think in decades they plan long term, and what -- interesting to me about all of this is it used to be about made in china. everything made in china export every place else the next two decades saw made for
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china their consumer market is going to be biggest on planet our companies need to sell stuff in fact my guess is when president went to boeing,is last week or something they had a few choice words about idea of hey, we need china to buy our airplanes. maria: sure. >> so -- >> i want to get back to market outlook you said you have been hedged for a while now expecting market to go down that is fine and that has been accurate. when do you become unhedged? what are you look for downside? and clear sailing. >> the couple things, really important point so in terms of short term stuff i look at this called the world's greatest indicator basically the number of stocks in the s&p 500 above 200-day moving average when that false below 56, 60 today, that is time to get half hedged, falls below 50 where it was heading yesterday afternoon then you get fully hedged, when that comes back up, goes back up
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the other way through 65, you start reentering, that is one way in terms of of a short term indicator but long term what we find is that markets tend to lead the economy. >> okay. >> so the markets getting weak here are starting to make noise they are not like tomorrow but this could be a recession, recessions tend to have meaningful market corrections related to them we are going to stay hedged for a while. if economic growth started to pick up, i think, in january, about the atlanta fed was saying we're going to have 4.5 prd fingerprinted growth now saying 1.8. >> -- >> a couple -- >> changing that any time a data point -- real retail. >> sub2% growth seven years i don't think getting higher people forget not necessarily
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percentage whole year 2.3 the thing is it is not about the number right? because it is law we are in a huge number hard to gr huge economy at huge percent should look more at economic growth created so long as that that stops going down, that is when i would get more bullish. maria: still going to be up 1 1/2% right? >> that is -- 18 1/2%. >> that is what they say every year earnings estimates are really high. by the end of the year -- >> they have been at 18 plus percent. >> going to be 16% for the first quarter. >> i will come back in december if they hit 18, i will apply you dinner. >> you got to come back before december. >> -- dagen -- >> market -- >> in on that, too. >> you still own bitcoin. >> i love bit i do know blockchain i think blockchain technology is going to change the world as we know it, and my plan over next couple
quote
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decades tokenize the world. >> ooh. >> sound like joack dorsey. >> planinging news from president tweeting this right now, daca was abandoned by democrats very unfair to them. we have been tied to desperately needed wall daca legislation, is not happening i guess right now we will break when we come back kathy with us weighing in on president's tariff plan taxes a lot more house judiciary committee subpoenaed justice didn't for records tied to hillary clinton e-mail server the very latest on that investigation stay right here. ♪ ♪ ♪ ♪ you said you're not like me,
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friday, march 23 your top stories right now 8:30 a.m. on the east coast. a referral of fortune futures indicating market openings higher up 60 points dow jones industrial average that is a complete referral reversal from earlier dow down 262 at wloes up 7 1/2 points s&p 500
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gained february durable-goods orders up 3.1% well above the estimate called for a gain of 1 1/2%, durable goods orders helping a tough day yesterday, take a look at sell-off growing fierce of a trade war on vests yesterday 724 point sell-off in dow 178 point selectively on nasdaq day china is firing back, announcing its tariffs on u.s. goods, global markets followed u.s. lower yoornt and this morning in europe, the ft 100 down a half percent the cac quarante. dax down each better than 1%, in asia overnight, sharp declines across the board, worst perform japan nikkei average down 4 1/2%, the house judiciary committee makes it official, it has issued a subpoena to the justice department for documents in clinton e-mail equation amazon drone dream company filing for many understand hand signals, giving workers right to disconnect a bill says companies would be banned from requiring workers to respond
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to text and e-mails after work hours. >> living on prayer some great play on the courts we have very latest from sweet 16 michigan dominated again, first top story this half hour, a shake-up at white house, weighing on markets yesterday president trump announced replacing national security adviser h.r. mcmaster with former u.n. ambassador john bolton adam shapiro live at white house with the very latest. good morning to you. >> good morning, mr. bolton will begin his duties on april 9 let me read you tweet the president sent to the nation last nightly he said quote i am pleased to announce that effective april 9, ambassador john bolton will be my new national security adviser i am very thankful for the service of general h.r. mcmaster who has done outstanding job will al remain my friend there will be kushl contact handover april 9, now ambassador bolton was on fox business network yesterday as well with fox news channel very much in line with the president who during
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the pain to become president promised he would either hold iran to deal struck during obama administration, or tear it up and mr. bolton is in favor he has written in the past about regime change in iran here is what he said last night about the president's agenda with iran nuclear deal. sa.. >> i think that the rest of the bureaucracy needs to understand as well when guy got elected makes a decision that is what constitution provides. >> no sproo i have to anybody ambassador bolton you been hawkish kwhilt -- when it comes to iran. >> bolton, is more hawkish than president the president reallyishes people around him who don't agree he likes best minds together have the conversation, but at the end of the day, it is the president who sets policy who makes decisions. >> capitol hill reaction senator coons had this in
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midst of international challenges from north korea and iran to china and russia i am concerned that president trump has chosen to abrupt dismiss well regarded h.r. mcmaster hire fird national security adviser in 15 months senator from delaware, there were issues about shake-up mr. tillerson yesterday leaving the state department telling people that this is a mean spirited city washington, d.c., imagine. then there was the president meeting with millennials kind of joked when asked what advice would you give to 25-year-old self the president said, don't run for president. back to you. maria: he did, thank you adam shapiro white house the corporate tax code overhaul has been a big windfall for american business a big win for the president certainly the tariff plan -- thrown ceos's for a loop futures gain 50 points dow jones industrial average reversal to earlier low was down 262.
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down, on the dow earlier joining us right now to talk markets trade is the ceo of deloitte, kathy good to see you. >> thanks for joining us what do you see when you speak with corporate executives today in terms of policies out of washington. >> number one they are all looking for sustained economic growth, and tax reform regulatory reform infrastructure will probable help a little bit you saw wage increases one time bonuses, investments in facilities are they looking for a little more certainty and stability absolutely but obviously trade is complicating things for them i think we have 36 million of our jobs, here in america are very important export driven, trade is 27% of gdp a little stability around this would help. >> i haven't been able to find one person to say yes this trade tension is probably going to take a cut from economic growth expectations, i am just -- people are not going there.
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even though all this worry. >> i mean look i think any kind of trade activtariffs are a tax it is going to cut into economy i think what we have seen maybe you have seen this too kaths kwai we talked about this before trump puts his big chess piece forward kind of ramps down do you think this is watered down in the long run. >> i think it any trade agreement negotiation is key. i think one of the important things will be is as we look at american companies, fair access 95% of consumers outside u.s. this is a chess game but also is a big balance on negotiating. >> a question from your perspective as ceo of deloitte. for your company, is all this change certainty good for you? or would you rather have a more stable -- i know how it impacts business, can't plan i am curious is its good or bad for your business. >> i think company confidence
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is very important for our business, companies are confident they are all transforming so much, intellectual property component so important to get right every company technology company that is good happening not standing policy. >> you talk about the importance of sustained economic growth. but we're now seeing this 1.3 trillion-dollar spending bill, is not good for sustained long economic -- this is long-term deficit debt red i think very bad news for long term, how does that affect how companies feel today is that, too far in the future? or do you see that having an impact on how companies are thinking about, investment and where they are going to invest. >> i this i companies worry macroabout debt and self-defense but as looking at execution of their strategy over the next three to five years they have to invest heavily and that is why tax regulatory reform is helping with confidence to do that. cap on sidelines repatriation
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of foreign earnings deployed macrothey are worried about that in defendants but kind of as they look at execution of their strategy, they kind of like what they see around confidence and ability to bring back those earnings invest them, in u.s. businesses u.s. workers u.s. facilities. >> in terms of policy what do they want to see next. >> excluding trade potential tariffs, what comes out of tsofe white house? brian asked about spending. >> number one infrastructure, as we know is a bipartisan issue but obviously very challenging on where do you find the money, again gets back to the point about -- >> infrastructure money in that spending plan right? >> o. dagen: in the omnibus spending bill -- >> and, obviously, comprehensive immigration reform look at a future of jobs future of work very important to get immigration reform skills funding into education business roundtable is doing interesting things around workforce development and education really as we see
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shifts in the american worker, very important to look at that as well. >> the phase two of tax reform plan expecting, president says that he wants to make the individual cuts permanent what he told a group of millennials yesterday. millennials starting out tremendous you have a tremendous advantage over what you had, you are going to pay less taxes, you have far more incentive you are going to have a lot more money in your paycheck to spend. we were at about 1.2% gdp we have now hit 3, and another 3, and a 3.2, and we will see what this next quarter is that could be a good quarter. maria: phase two reportedly will include individual cuts being permanent, what companies are looking for in terms of the tax out of this story did they get what they needed in that last tax plan to actually hire more people? >> so i think they got what they needed there was not everybody is happy so there was some negotiation obviously here in new york city with this all salt deduction would
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i say one question ceos ask how long term is this will three there be reversal of this kind of policy in 2020 or 2024 however you look out 10 years make them permanent? so they are looking at the future because they are doing long-term plans right now that is where they are uncertainty lies. >> what about new york city councilman bill that they want to make i will illegal for companies to require employees to answer working e-mails or calls after hours. >> i don't know how would i do with that i am always e-mailing. >> fascinating with that what are work horse right? we are promoting about flexibility about predict in 62% millennial workforce work hours are not 95 to, 8 to 6 or 8 to 7 we pride on people working different times flexible for them whether they have family issues things like that i wouldn't even know mow you implement that. >> always floats ideas now and
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then. maria: hey we're not 9:00 to 5:00 people. dagen: thank god. maria: we'll be right back. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges.
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maria: complete reversal in is it accurate, sir nicken up one handful of dow components gaining ground before bell topping expectations with third-quarter earnings nicole petallides on floor of the new york stock exchange good morning to you. >> good morning, friday morning a turnaround in futures nike one name after the bell yesterday we did after the bell we saw upside, continues that trend looking up about 4.3% in fact north america not try to get they said will be going forward, it was international markets that helped nike in china and european, those some of the areas that actually saw strength in sales on the rise, they have a lot of competition here in the state with adidas,
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dow component likely upside up 3% up this morning as well there is direct selling using amazon selling direct to consumer helping them, let's take a look i mentioned amazon worked on so many businesses patents one is drone type patent this one delivers packages but it will have sensors cameras to see you waving or shaoing it -- shoeing it off not ensure how to handle this what if freaking out waving armed wild don't know what to do whether or not it comes to fruition back to you. maria: nicole petallides a retail dale could be in works kroger target reportedly discussing merger joining me host of "varney & company" stuart varney to weigh in. >> i think it is a sign of the
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amazon effect the delivery battle to deliver groceries items same day we also have the development today apart from target maybe getting together with kroger whole foods is looking for much bigger stores with a warehouse were attached what ahmanson wants to do deliver grocery from whole foods same day from the warehouse next door, other amazon products next day. all of this a development where we are moving towards same day delivery not just a froms release but all kinds of thanks, that is where we are going target kroger deal may be a deal i think part of it. >> you have to do that with same day you are talking about, fresh items groceries. >> you know i have recently discovered amazon prime. >> good move? >> yeah, i mean -- it is 2018 i just got hold of this i
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don't have account of my on asked somebody do it for me it is fantastic, absolutely fantastic -- unbelievable stuff. maria: you are right, dagen a comment. dagen: i ordered some succulents plants from amazon prime all dead it was you have a i have never -- >> what? dagen: never ordered planned again, my bad that i am ordering live living things -- that is what we are talking about with groceries same day fresh. >> succulents don't do same day deliver or next day there is a the message here dagen? . >> watch out for your succulents. >> exactly i have been there, i have been there. dagen: you say it beautifully. >> i know you have a lot more see you 10 minutes "varney & company" top of the hours after "mornings with maria" join stu artists 10 minutes' time a saddled approval for mr. rogers sneak peek of the stamp honoring the kids tv host.
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whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. maria: police say two people are now dead in that hostage situation we are following in france, lauren simonetti with details now. >> okay maria there are about one dozen people wound a person reportedly mentallying allegiance to isis holding a police officer hostage at supermarket in southern trans according to mayor of trebes talking to talk taker all hostages except that police officer reportedly freed. police say the suspect fired at police officers 15 minutes away from scene, hitting one in shoulder before they ended
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up at supermarket that officer injuries nonlife-threatening french television reporting attacker asked for release of a terrorist that took part in the november 2015 attack in paris, that will have thes 30 people dead. that happened -- 130 people dead at many venues concert hall one the soul survivor in organized attack president trump has been briefed will continue to be updated. the house judiciary committee slapping justice department with subpoena for documents related to clinton e-mail investigation chairman goodlatte saying no choice since they have only received a faction of the roughly 1.2 million documents they requested months ago, goodlatte spoke about this with you on "sunday morning futures." >> we need to have those documents, the department and the bureau have been slow i would say now very slow in getting them to us the last time i was on your program i
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expressed confidence that he will we would have those difficulties forthcoming here we are several weeks later still don't have them so this is coming to a head. >> department of justice has two weeks to comply with that subpoena. >> u.s. postal service forever stamp honoring mr. rogers on sale today rogers in famous red cardigan with one puppet in the neighborhood of make-believe part of celebrations that mark 50th anniversary of the start of mr. rogers' neighborhood. >> would you be mine ♪ ♪ ♪ . >> would you be my neighbor. >> ran 33 years from 196 8 to 2 o 01 roernlz died -- roernlz died at age of 74. >> breaking news president trump tweeting about spending i am considering a veto of the
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omnibus spending bill based on the fact that the 800,000 plus daca recipients have been totally abandoned by democrats not even mentioned in the bill and border wall needed for national defense not fully fund we are looking at this we are talking about this earlier, and that is what congressman desantis said in this interview he wanted president veto this. >> three other reasons why beyond what president is saying interesting could be exciting weekend. >> congress on their way out two-week vacation. we'll be right back. can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned.
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maria: thanks for being here. >> happy friday, everyone. stuart: good morning, everyone. take a deep breath, not necessarily a sigh of relief and look at this was the trend for the stock market is down again but only a little. the dow, the s&p is going to be up a fraction. i call that dead flat. it is a 15 point loss at "the opening bell". expect a lot of volatility. investors trying to figure out how to respond to china trade, government spending and the threat of regulation on big tech. develops overnight, china fires

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