tv Maria Bartiromos Wall Street FOX Business April 21, 2018 3:00am-3:31am EDT
thanks so much for watching "strange inheritance." and remember -- you can't take it with you. [ gunfire ] ht here on fox business. maria: and happy weekend. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. we've got a jam packed program for you. coming up in a moment, alpha one captain tall parters founding partner, my guest. and my emotional wide ranging entire view with george w. bush and former first lady laura bush. he was candid in his feelings about his moth's passing this week. you don't want to miss it, this exclusive fox business report. first, colin is standing by in the newsroom with the latest
headlines. >> hey, stocks started the week off on the right foot thanks to strong earnings from the likes of netflix, ibm and goldman sachs. some weakness in tech. a rough go for apple as the morgan stanley report on weak iphone demand hurt that stock on friday. was it enough to ruin the week with all three indexes finishing in the green. well far ghost being find 1 pill ondollars for forcing customers into auto insurance and charging mortgage buyers unfair fees. consumer protection bureau and the office of the l kro f 0 the currency announcing those penalties on friday. this comes less than two years after the bank was fined $200 million for opening up secret unauthorized accounts for customers. the irs's filing system failed on the biggest filing day of the year on tuesday, caused by a hardware glitch in the agency's hardware system that
houses taxpayers ie personal records. there's in reason to believe the data was breached. starbucks is closing 8,000 stores for racial bias training, the move coming after two black men were arrested at a philadelphia location while waiting for their friend. and it sparked national outrage. the training is expected to taye place on may 29th and cover 175,000 employees. and the two ceos at the hart of the antitrust lawsuit taking the stand this week. time warner' labeled the claim that at&t is only buying its company for leverage over distributers as ridiculous and said the deal is necessary for both companies to compute in the future. at&t added that the merger would benefit the consumers by providing more access to more content. that deal valued at $85 million. maria: this week, federal reserve bank of dallas ceo told me he thinks a total of three
interest rate increases are important this year. two additional hikes in 2018. he said while growth will be strong this year it will begin to moderate going forward. >> the dallas fed we're estimating u.s. growth two and a half, two and three-quarters%. infortunately we think growth will moderate next year and we think by 2020 we'll be down to 1.75% to 2%. and th warning that momel slow in 2020. my next guest is casually optimistic but 2019 but said the next rescission could begin in 2019 and the risk of a market selloff greater than 20% is high in 2019. dan niles is with me now to talk more about that. great to see you. >> great to see you too. maria: so much to talk about, in particular aboutface boo about d
technology. let's talk about the broader market and the economy. you think things are going to turn possibly recession nair in 2019. >> as you get toward 2019 and you have the positives for this year, like central banks stimulus starting to reverse. that could be an issue. there's a slide i gave you about how long the bull market has been. it's been 107 months -- maria: without a 20% correction. >> without a 20% correction. and that's the second longest since world war ii. and when you have these long lasting bull markets, you think about the one that ended in 2007, market went down 57% for the s&p, the one that ended in 2000, which was the longest in history at 114 months, market went down 49% on the back of that. so you know, this is obviously been a wonderful expansion, the s&p is up over 300%. but i think what you need to
worry about is okay, this next correction when it happens, it's likely to be vicious, likely to be hard and the central banks don't have that kind of stimulus anymore because their balance sheets expanded from 6.4 trillion at the end of 2017, those balance sheets of the big four central banks, that's $20.6 trillion. so they're not going to have as much ammunition anymore. maria: and i think one area you point out is apple and its supply chains. and you know, you called this before it actually happened and it happened this week where you saw taiwan semi conductor get taken to the wood shed and it had a lot to do with apple. tell me what happened. >> if you look at taiwan semi conductor, it's one of the greatest semi conductor companies ever. they are more than half of the foundry capacity in the world. they make chips for other companies. one of the companies they make chips for is apple. the estimation is that's 20% of
their revenues. people were thinking they would guide the june quarter to be flat, maybe slightly up. instead they guided down over 7%. wait a minute, that's 20% of the revenues and they said high in smartphones, code word for apple. if that's what's happening to them, you have to look forward and awhat's going to happen to the rest of the companies that are going to report and what does that mean with what's going on with apple's business. maria: so you think we're going to see the supply chain struggle and you also think apple is going to have a miss when it reports. >> yeah, i do. maria: so apple reports in may. watch for that. dan thinks they're going to miss on the numbers. google parent alphabet you also think may miss? >> that one i like quite a bit over the longer term. the problem is google is the exact opposite with facebook. with facebook they guided expenses up 5078% this year before the data breach stuff ever happened. when you look at google, they have expenses model for some
reason, wall street does, google doesn't guide, but wall street has expenses modeled to go up by the slowest pace in the last five years. and i think the expenses are actually going to be a bit higher. the revenue wills be fine but i think you're going to have a problem on the margin front and the eps is going to have an issue. that's one of the stocks that after that is in good shape going forward. maria: you loved facebook for a long time. your number one position. you've made some moves. let's talk about facebook. >> sure. maria: do you think this data breach, the new changes tha the company is coming out with creates a different fundamental in terms of how they make money and changes the reason to own the stock? >> i really don't think so. i mean, when i look at facebook, you've always had privacy settings. most people don't turn them on or work them as much as they could. having said that, i like having ads shown to me that are relevant. i don't want to see baby food ads when my kids are 17 years old. i would rather see ads for tennis gear et cetera.
maria: stuff you're interested in. >> for facebook, i don't see it affecting them much. and remember, google had a problem in march of 2017 where they were actually showing ads next to extremist videos. if you go back and look at it, it didn't affect their business one iota. maria: dan, great to have you. thank you for joining us. dan niles is alpha one capital partners founder and partner. we will take a break. when we come back, my exclusive interview with former president george w. bush and former first lady barbara bush. the nation mourning the loss of beloved first lady barbara bush. >> the end of a beautiful life. >> maria bartiromo's intimate and personal interview with and personal interview with geor
first lady barbara bush this weekend. the wife and mother of two u.s. presidents died on tuesday at her home in houston, texas. at the age of 9 the. her husband, former president george h.w. bush was at her side. earlier this week i sat down with their son, former president george w. bush and his wife former first lady laura bush from the george w. bush presidential center in dallas. i was the morning after her death. >> there's a lot of condolences pour in and laura and i and her entire family are grateful for people's prayers and sympathies. it's an end of a beautiful life. maria: it was an incredible life, a life well lived but it's never easy. i know that. and you know, all of the comments that morning about your mother are about how warm and wonderful and what a leader she wabut also tough and nails. >> she was warm and wonderful until you got out of line and
she wasn't too warm and wonderful. she was awesome. >> funny and fierce and set her mind. a great role model for me for sure. i learned how to be a first lady. maria: i was reading when you were first lady, it was easier for you than it would have been because you had your mother-in-law. >> i had my mother-in-law. and of course i watched her the whole time she was first lady. when she campaigned for president bush. and i actually mad the conversation with her earlier on when he first started to run, she would work on literacy, that she thought that was the most important. and if everyone could read and write, a lot of problems would be solved. maria: and you picked that up and kept running with it, literacy education for women and did so much for women. and mr. president, let me ask you, i know that you saw this coming. we know that mrs. bush said that shi did noshe did not want any e medical attention and wanted her comfort care. but were you able to say
good-bye? >> yeah, in person and then on the phone. laura and i went over to see her a week ago saturday and we had a wonderful visit. he was strong, lucid. >> funny still. >> she and i were needling each other and the doctor came in and she said do you want to know what george w. is the way he is? because i drank open smoke when i was pregnant with him. maria: hilarious. >> she's funny. i had a beautiful visit with her when it looked like -- yesterday morning on the phone. and she didn't say much but i told her i loved her and -- here's the thing. she had great faith. she truly believes that she is -- that's an afterlife. that she'll be wonderfully received in the arms of the loving god and therefore did not fear death. and as a result of her soul being comforted on the death bed, my soul is comforted.
maria: wow. >> so here's the thing. we've got this leadership forum and my mother would say, make darn sure that you participate fully in the leadership forum. and you know, in other words, don't sit around and feel sorry for me or yourself more importantly. but move on with life. and that's what we're doing. and we thank you for being down here. this bush institute is very important to us. we've got some programs that we think are very transformative and helpful for the future of the country. maria: let's talk about that. we were grateful that you were still going to do it despite the news. this is an important forum for you and you've got an incredible lineup of speakers the next three days. >> we do. we've got jeff ba bezos, the keynote speaker, bono, bono and i became fast friends much to the amazement of people. maria: how did you become fast friends with bono.
>> the aids initiative and it caught his attention because he's a genuine humanitarian. and he found that he had an ally in dealing with disease and depravation, particularly on the continent of africa. and then our personalities measured. i needled him and he needled me. we got along great. there's few people in the world who know vladimir putin quite like president george w. bush. >> i felt it was important for the united states to be forceful in dealing with putin. >> how does president bush think the trump administration and the rest of the world is dealing with the russian leader now. more of maria bartiromo's more of maria bartiromo's
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maria: in terms of mexico and canada, you mentioned, mr. president, do you worry about the conflicts that are going on right now, given the debate other trade and open trade? >> i hope that people as they debate whether or not the trading regime has worked with canada and mexico look at the facts. and we want our neighbors to be healthy and strong. and so our view is how can we best expedite positive trade which benefits everybody but also to make the point that the three of us countries are going to need to be able to work together to compete with china in the long term. these days i'm getting too old to worry about much. but i do -- my only point is that we promote a positive agenda here. and make the case why, in this case, trade with canada and mexico, collaboration with canada and mexico, working
closely with canada and mexico not only benefits u.s. citizens but benefits the citizens of all three countries. maria: since you left the white house you've become an avid painter. >> i have. maria: i love your work. >> thank you. maria: and i want to show some because we shot some of the pictures. tell me, how often are you painting . >> daily, except yesterday. maria: what are you working on? >> i'm working on snow owls. so our daughter jenna, who is fairly outspoken child, demande. forcefully asked mor for me to t two snow owls for a new house that she and henry are furnishing. i'm working on that. maria: is it relaxing? why do you make painting? it's mind expanding. doing something i never dreamt i would do. >> he was an art agnostic. he never looked at art. we lived in the white house with
a really beautiful art collection. the white house has a great collection of american art but he didn't really look at it. but now he does. maria: the painting that you did of vladimir putin is great. >> thank you. maria: i have a picture of it and i remember the line that you looked into his eyes and saw. >> yes. maria: some people feel like if there's anybody that knows putin the best out of anybody, it's you. >> i know him pretty well. maria: have you surprised at what has taken place? >> when i looked in his eyes and saw his soul, russia was broke, short-term broke. the price of oil goes up and putin changed. and look, he's a very smart tactician. the problem is his whole attitude on most is i'm going to win and the u.s. is going to lose. and so i'm not very surprised. i mean he is a very aggressive person who wants to reinstate soviet influence, each though the soviet no longer exists.
and therefore i always felt it was very important for the united states to be forceful in dealing with putin, not belligerent but forceful. he's good. maria: are we still being forceful enough or are we not being forceful? >> i don't know. i made it a point not to second-guess any successors. we'll just have to see. all i know is i used to tell me, people say peut season popular. i said i would have been popular if i owned one of the big networks too. there's no media pushback on vladimir putin, not much competition. he's got pretty free reign except that the demographics aren't that positive. maria: people would say it's about the size of texas. >> pretty good size. maria: but relative to a country. let me dis you a little bit about the news. last week we saw president trump
pardon scooter libby. your reaction. >> i'm happy for scooter and his family. maria: did you see "the wall street journal" headline saying that scooter libby was the soldier left on the battlefield? >> no, i didn't see that. i'm sure he's got some friends in the editorial board there. as i said, i'm happy for his family and for scooter. maria: before we go, mr. president, as we see what's happening in the world today from north korea to syria, we still have these radicals trying to undo who we are. your thoughts on what to do and how to respond to what's happening. >> here's the thing. if you go down to our exhibit in the museum, there's a powerful -- maria: i've seen it. >> two of them, here and ground zero. people are forgetting the lessons of 9/1 is. and one of the major lessons is the human condition elsewhere matters to our national security. it's in our nation's interest for women to be successful in the middle east, for example, or for civil society to take hold. because it's with civil society and people having a say in the
big events coming up in the week ahead that may impact your money. it's an earnings parade along with economic data. the services pmi and the existing home sales report due out. on the earnings front, alphabet will reports its quarterly numbers, the parent of google. typically market drivers. and you heard dan niles saying he thinks alphabet will miss on earnings. on tuesday, home price index is out along with new home sells and the consumer confidence report. that will be released. big day for earnings, caterpillar, harley-davidson,
jetblue all reporting first quarter. on wednesday no important economic data to report but earnings will dominate the story, at&t, boeing, chipotle, ebay, ford, viacom, twitter along the names to keep on your radar. dan niles thinks that facebook will beat estimates when it reports. on thursday, initial jobless claims, housing vacancies, among the giants reporting earnings, amazon, american airlines, general motors, microsoft, southwest, starbucks and time waryner along with u.p.s. on friday, gdp is out, consumer sebtment is out along with earnings from chevron and exxon. coming up next week, the chairman and ceo of the blackstone group, my special guest next week. and i'll sen you on sunday morning for sunday morning futures, we've got devin new nes
coming up, 10:00 a.m. live on sunday. that will do it for us. thank you so much for watching. have a great weekend everybody. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. thamericanream is back and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.