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

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the nikkei average in japan done better than 1%. pushback over zte. lawmakers taken action against the plan to ease restrictions on the telecom giant. what it means for the negotiations. president trump casting doubt with kim jong un. watch. >> is a substantial chance that it won't work out. that doesn't mean it won't work out over a period of time. maria: preparations underway and said to dismantle its nuclear site. we have the latest coming out. a rare bipartisan deal lawmakers cleared legislation to ease rules from dodd-frank. heading to the president's desk and talking about the impact. casino chaos is living. union workers in las vegas on the las vegas strip.
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we will tell you whether you could start and when the lockout might have been. protests may come at the penalty now considering a rule to combat dealing. joining me to talk all about it, dagen mcdowell. benchmark managing partner kevin kelly and pwc partner mitch roschelle. great to see you. where my leaving for tamara las vegas. nothing like a strike in the headlines we need to go someplace. maria: you're going to vegas tomorrow? maria: we will see. >> see one actually built his latest empire. no unions. a lot of the employers loved th.
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the estimate was $1.22 per share payable as is the first retailer today to report low expectations. talking a lot about the consumer. stephanie palmer called it not as strong as some appear. a window into just that. dagen: it looks like there was amiss as though the revenue numbers that a $19.4 billion. looks a little light on the revenue number. the bright spots in the retail industry should be because of the lack of inventory. people are really trying to flip homes again. the money is there to borrow to flip homes and people -- they are forced to either buy homes that need serious improvement of their state and existing homes. we'll dig into these about bed e
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stores sell number. >> they reaffirmed the guidance and they've had choppy numbers over the last few quarters. that is what will drive sales then they saw a tale of two stocks yesterday from a weather colts versus t.j. maxx. they pulled forward a lot of their revenues because they have promotion. t.j. maxx of the thin, we didn't do that. that was her primary driver. if you look at lowe's, they're not great on the operations side. they had to bring in a new ceo. dagen: martin hosted worked at home depot recently at jcpenney's. waiting for the ceo to slide into that job. sales were up six tenths 1%.
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will look deeper into those numbers. maria: from your, the housing market is progressing well. >> prices keep going up because there's no supply in the market. not too worried about the sales season. the home sales season will be very strong. look past the month-to-month numbers as consumers want to buy homes before interest rates go up any higher. >> the revenue and earnings in terms of home improvement, new and existing home sales coming out today and tomorrow. expecting both numbers to show slight declines for the month of april. home sales and a 679,000, down 2% and existing home sales to fall 5,557,000,000. >> the only reason the sales numbers going down is because
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the product isn't on the market to buy. if there's more inventory in the market, you would see it higher. you buy something up for sale. >> the estimate was supposed to be 2.2%. a giant mess on their comparable sales. the unfortunate aspect in the retail side is you have to be very choosy. if you look at home depot versus lowe's, and they operate so much better it has to do with the pro service where if i am working on a house like about my order online and go to home depot and it's ready for me. still trying to figure out their operations. that's why they got rid of their old ceo. you will see the new ceo will not be the chairman. he will be held more accountable and the board knows they've got a turnaround.
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he didn't turn it around for years for interesting aspect isy brought in the guy who couldn't perform at his last job. it's true. i'm not the only one saying this. if you travel back in time 24 hours ago when he left saying everything is fine here. meanwhile on his new employment contract. maria: wasn't here this last quarter. >> no, of course not. jcpenney wasn't doing well and now moses in doing well and is he going to be able to turn it around? >> he did spend 10 years at home depot and was the person responsible. >> i would imagine jcpenney, the point he took over as ceo was not his knowledgeable retail
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chain at that point. they had missed the boat in such a way. that is a ship that you simply couldn't turn around the other direction. >> they lump them together and turned it around. maria: macy's has turned it around one quarter. i'll pushback on that. macy's has been fouling up its online strategy literally for 20 years. since the dawn of the internet. dagen: they had a good quarter and the guidance, we will see. people are getting a little too giddy about macy's. one thing in terms of the housing market. you have mortgage rates at a 7.5 year high. the average fixed-rate with a 4.61%. that means prices may come down. the more someone has to pay a
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mortgage, the cheaper the homemade to be for them to get in. >> you're right. i'm waiting for it. >> people go back and say i remember paying double-digit rate for mortgage back in the 80s. because houses were heckuva lot cheaper. >> talking about tax reform, and if there were some headwinds that force prices down, that would be a bad thing. it could be a balancing act there. the 3.5 million foreign households with children move out of their households. the demand isn't going away and that will keep driving up prices. tricky lows is down 2.5%. target in 20 minutes. regulatory relief as well. another headline. president trump will sign a sweeping overhaul of dodd-frank into law as soon as possible after the house voted to approve legislation by a margin of 258
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to 159. 33 democrats supported the rollback is president trump and did listen. >> we are going to be submitting additional tax cut sometime prior to november. it is going to be something very special. you see what it's done for the country. something very, very special. maria: tax cut in november will be tough to beat on the other side. the president promised to do a big number on dodd-frank. another kept promised here's sort of. dagen: to change his push to rid the house yesterday are significant. they should ramp up lending among smaller banks. one thing to play now, this is a front-page story in "the wall street journal." the bill cuts regulations for small lenders and raises the asset wrestled for larger regional banks that automatically face stricter rules.
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other bigger changes did not get pushed through. emergency government powers are there. but it is going to be a big help to smaller banks in those regulations? >> jamie dimon made that very point you will create tremendous divide between a big one to afford to comply with the rules and the little ones who won't even try it will either get gobbled up or decide to be in the news. dagen: just a point now, "the wall street journal" article is about how the bipartisan bill came together over the last year and a half in a credit gary cohen is no longer the white house said mike crapo idaho where they think it democrats on board. >> gary cohen said that's his
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one regret. it's actually telling the administration is focusing on the tech side of the ledger, make it a more permanent than focusing on the personal site as well. dagen: even if they don't do anything with the second tax reform bill coming up with the republicans and president talk about what they've done and throws it in the face of democrats who did not vote for it. we've seen for nancy pelosi a message that you're raising taxes on individuals because you didn't make them permanent. no democrat would so. they actually got something done that has raised the paychecks of 90% of working america. trade to look, that is one of the reasons this whole idea has gone by the wayside. going into the november midterms and republicans have gotten a leg up at a general ballot yesterday showed republicans in the league now going into the november elections.
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now if you see the president and congress focus on a second tax cut plan, making sure the personal tax cuts are permanent will give more momentum to republicans i would think. dagen: in pushback. when someone says 83% of the tax cuts went to the top 1%, that is not true. it is a lie. because the tax cuts for individuals were permanent. because democrats didn't do any to help average working folks. >> that's part of the story. they visit power at the fbi and doj which we'll get to at the top of those agencies. i like the calm. gordon chang is coming up on china as well as jeb hensarling to talk to us about the rollback of the financial services committee. las vegas casino workers authorizing a strike cared what workers want and when they could walk off the job.
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take a knee during the anthem and the entire team could get punished at nfl owners proposing a new penalty for protesting. back in a moment right here. busy program.
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maria: welcome back. tens of thousands of las vegas casino workers threatening to go on strike. >> just in time for a trip to vegas. 25,000 union members voted to go on strike as the fighter contract is not reached. expires on may 31st and workers could walk off the job anytime starting june 1st. the crisis could cripple caesar's palace and bellagio. japan is selling its roughly 20% stake in indian e-commerce giant club car. it's a pretty big price tag. earlier in the month worth about $4 billion. this comes after wal-mart announced it would pay 77%. large numbers, but it gives wal-mart access about 15% so far
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this year. governors races highlighting a night of primaries. let's go to georgia at the republican primary there moved into a july 24th runoff against casey cagle after nobody received 50% of the vote. the democratic primary becoming the first woman gubernatorial nominee in georgia from either major party is. president trump backed arkansas governor issa hutchinson holding off a challenge within his own party. democrat lupe valdez moved on. an uphill battle against incumbent republican greg abbott of texas. a pair of republican congressmen easily advancing in their primaries. heavy rains have caused a sinkhole at the white house for
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the sequel has grown larger by the day, generating a lot of drain the swamp jokes. one observer treated its not like a growing single outside the press briefing room has an existential meaning at all. they will bring in experts to try and fix this. turn into a lot of drain the swamp jokes i'm not one. coming up, president trump cast doubt on the summit with north korea. denuclearization enough birds appear to still be on schedule. china and north korea next. the e. taylor now cracking down on people who say they are taking advantage of the policy. is it fair? they were returning you if you have too many things.
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just another day on the farm. or is it? this farmer's morning starts in outer space. where satellites feed infrared images of his land into a system built with ai. he uses watson to analyze his data with millions of weather forecasts from the cloud, and iot sensors down here, for precise monitoring of irrigation. it's a smart way to help increase yields, all before the rest of us get out of bed. my secret visitors.
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my visitors should be retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
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>> there's a chance that it will work out in a substantial chance that it won't work out. i do want to waste a lot of time and ensure he doesn't want to waste a lot of time. the substantial chance that won't work out and that's okay. doesn't mean it won't work out over a period of time. but it may not work out for june 12. maria: president trump confirming his face doric meeting with kim jong survey could be in jeopardy. south korean president mode jae-in in washington this week. in a move towards denuclearization, north korea to dismantle its nuclear test site tomorrow on friday in full view of international journalists. nuclear showdown with north
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korea tales on the author and coming collapse of china author, gordon chang w-whiskey now. good to see you. thanks for joining us. your take on the back and forth. what have you got? >> it will happen. the north koreans need to meet president trump. the one pictured the u.s. does it strike their nuke and missile facilities. north koreans have had two millennia of sites with the chinese and certainly they would like the u.s. as a backup your president trump made it clear he's going to support the north korean regime as long as they give up most distraught to weapon. it could be good for kim jong un in the long run. train to what should the president do at this point? he threatened to pull out. they tried to have the discussion yesterday with the south korean leader. it seems he said maybe it will
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happen. >> of our president trump i would say to the we might not go. i would say look how do you want this meeting without you? yes or no. put them on the spot. maria: let me ask you about zte. lawmakers moving to stop to ease sanctions and restrictions with 27 bipartisan lawmakers standing in opposition but to make a firm for the fear of compromising national security. your thoughts. >> zte violated iran and north korea sanctions. came to the plea deal. you lied to get the deal, reneged on provisions on the bill. this was completely blatant behavior. we had to miss something. the chinese have made this an issue. they publicly said look, if we
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don't get some sanctions on zte, no trade deal. president trump kick it into the chinese on this otherwise these out a pattern where they break his will and become much more air again. maria: one thing we talk about on this program ever since the other day when we realized a deal could be in place of the fact that just because china's a $200 billion more stuff, agricultural products, natural gas, whatever, that's nothing for the real issues of american business. with regard to china that the economy here really cares about and that is the best of intellectual property that we know china has been doing for decades in the forced transfer of technology to chinese companies from american companies. why do a deal if you're not addressing the most important things for the american economy. >> does cause the trade deficit in the first place. to add to the list, china's
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industrial policy made in the 2025 initiative. all of these things really hurt american businesses sending me to be adjusted. by the way, the chinese in the past event promises to buy more american goods. one other thing. you buy more soybeans from the united states. that means we are not selling soybeans to our other customers. this doesn't do anything for the overall trade deficit. it just rearranges the customer list. maria: you make an important point i didn't china just agree to abide northeast. where is that? they haven't bought any more beef. you're going to be testifying today in front of the house foreign affairs committee on china. what are you going to say? >> i'm talking about how europe is this enormous hole through which western technology ports to the chinese. we've got the committee on foreign investment in the u.s. did we screen. we prevent chinese firms from taking u.s. technology. if they don't get it in the
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u.s., they can get it in europe. technology firms have gone up quite a lot, much more than investment in the u.s. bob beckel as well as the holes we have in our country. maria: the issue is the chinese look long term. they don't care what happens overnight. maybe her team wanted to see a good market reaction from a deal getting done. in the market was up 200 points after about a china was going to be buying more stuff. longer term, these are structural issues. the best of intellectual property. the refusal to open market to foreigners and the forced transfer of technology. >> wilbur ross, commerce secretary came to the interim deal saying this would help the trade deficit. the trade deficit last year was worse than the year before the obama administration. short-term deals don't do anything. even if they were to honor them they don't deal with the fundamental issues.
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trade to another angle in the sediment covering is the fact that china is using its economic gain that they've been able to make in alaska for years and applying it to the military. that is why devin nunes is investigating china right now because they're acquiring spot on the sea level to have the best position for trade all around the world. not just in china. >> president trump was good this. he said the chinese sea trials on their second aircraft carrier. we pay for it and in a sense he's right. he's absolutely right about that. we've been buying the chain is the best military in the world or the second best one. it's soon to become the biggest. >> 1.3 billion people versus 380 million in the u.s. >> will be okay on that point. i believe the chinese will not overtake us. we've got a vibrant and strong society and the chinese don't.
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they've got a debt crisis coming. it will hurt them, set them back. >> they also hold so much of our debt. great to get your insights. thank you so much. gordon chang, watching you testify. a private jet crashes off the end of the runway and split in two. wait until you see this through the late passengers and the crew. if you're eating eggs for breakfast right now, you could be making a simple life-saving move. why even take a day could prevent the number one cause of death. back in a moment. ♪ for our customers. it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction.
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>> maria: good wednesday morning. quell come back. thanks for joining us. your top stories right now, 6:3. fresh uncertainty over trade this morning weighing on markets. the nasdaq is down 1%, 69 points lower many we have another miss in retail, target is reporting earnings right now and they are below expectations. we told you earlier that lowe's came in lower than estimates, target is now missing on earnings as well as revenue. this after stocks closed near session lows yesterday. the major indices he erasing earlier gains after president trump said he was not happy with the progress of the the china trade talks. dow industrials down 3/4 of a
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percent. the nasdaq gave us a quarter of a percent. in europe, declines across the board. fq100 down 3/4 of a percent, the dax index down 1.5%. markets closed mostly lower in asia overnight. worst performer, china. retailer earnings in focus on wall street. lowe's and target reporting weaker than expected results for the first quarter. lowe's is blaming the weather. target reporting earnings of $1.32 versus an estimate of $1.39. target revenue also missing expectations. target's stock i'm going to check that for you on target, because tensioner and revenue are -- the earnings and revenue are below expectations. target is down 3.25% right now. a plane crashes off the end of arraignway and breaks in half -- end of a runway and breaks in half. we have the latest on the passenger and the crew.
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everybody is okay. facebook's ceo mark zuckerberg grilled by european lawmakers. he apologized again for the privacy scandal in europe and acknowledged the reality of regulation. >> some sort of regulation is important and inevitable and the important thing is to get this right and to make sure that we have regulatory frameworks that help protect people, that are flexible, so they allow for innovation, that don't inadvertently prevent new technologies like a.i. from being able to develop. >> maria: facebook shares are under pressure ahead of the open this morning. anthem protest payback, the nfl is considering a penalty that could change the game for teens that have players who kneel during the national anthem. amazon takes action against shoppers who send back too many items. all that coming up this morning. breaking right now, target reporting first quarter earnings below expectations.
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target is calling 2018 a transition year for the retail giant. the first quarter earnings and revenue under pressure and the stock is down 3.25% right now. burt flickinger is with us right now. your characterization of retail right now? >> accelerating retail ice age right now. target's problems are internal, management mistakes, they've been in transition for four years. it's time to turn it around, right for activism right now. >> maria: target is calling 2018 a transition year, it is adjusting to address customer evolving shopping habits it says. they are centered around improving the digital experience, launching exclusive brands, remodeling existing stores, opening small format locations. it's not enough 1234. >?>> it's not enough. they're outsourcing just about everything. unlike walmart, unlike kroger,
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costco, they don't control their own distribution. all the retailers we follow, worst out-of-stocks we've ever seen, especially on weekends when they do 65% of their business from friday to sunday. they executives need to go from their wealthy suburbs around minneapolis and start getting into stores unannounced and see how bad their i.m.s. inventory management system is and get shareholders some value. revenue would be up. shopper experience would be better. and apparel's getting weaker. walmart's winning on apparel for the first time in its 55 year history. >> dagen: calling it a transitional year is like blaming the weather for bad sales. it is classic retail p.r. hogwash. this company has been struggling literally ever since the data breach at its point of sale. >> dagen is raising an important point. first it was the data breach,
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then it was canada, and now it's everything but the management making a lot of mistakes with mckenzie and other outside companies, where i was with the fastest growing retailer in the world a couple days ago, they said if mckenzie or similar consultants came out either the consulting firm would be thrown out and/or the person from the company would be thrown out. so the people with the great leaders, maria, the people who you have interviewed, bernie marcus, arthur mack, they're constant winners. the retailers that outsource are the losers. >> the locations, we're seeing that amazon moved into kohl's because of the location and you can do amazon returns. we're going to talk about that. i think there could be an era where target actually does turn it around if they do figure out their digital because that's what's happening with walmart. we've seen l walmart rebound because of that.
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i'm looking at the statement now. they're reaffirming their full year guidance on target. their same store sales were up and beat expectations. so what do they need to do to actually turn that corner that you're referring to? >> you're right, they're doing a lot of good things. they're advertising and marketing people, some of the best in the business, store design, same thing. outsourcing, they outsource target.com fulfillment to amazon for seven years. amazon took some of those learnings to kohl's. getting digital fixed, getting the in-store experience fixed and they're doing a sensational job with beauty, which is increasing customer counts and driving same store traffic at the same time. >> when you look at the disruption coming from e-commerce in general, not just amazon, is there a merchandising issue inside of the stores where they're just selling the wrong things? because some of it's just totally being disrupted by e-commerce? >> they're selling some of the wrong things.
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target migrated more to private label, where kohl's had positive same store comps yesterday, best combination of own brands and national and global brands. jeff ganett at macy's, tony springs, doing the same thing, helena folks at saks with richard baker, same thing. the best prestige brands with private label. target is too far on private label. that's why walmart is winning on apparel, it's on the branded side. >> maria: one of the lead stories this morning, amazon is banning customers from returning too many things. the return policy is not as relaxed as some people thought. amazon says it's going to ban you and ban your account if you return too many things. >> all the reports are correct. customers have been banned. they haven't returned that much. amazon set up outbound, maria, they're not set up for inbound.
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it's like charlie chaplain, where everything on the assembly line goes one way and you can't make any modifications. anything coming back to amazon's an issue. amazon's got a shortage of drivers, shortage of distribution, shortage of logistics talent. and this may be to scare shoppers off but really unfair to consumers, either commercial or -- >> dagen: if you get banned by amazon, your return behavior is abusive. come on, burt. they're not just randomly singling people out. be frank about the kind of behavior they're trying to crack down on. >> that's an important point, whether it's macy's or niemann marcus, you have serial abusers that like to over-shop, get the bill, bring it back. amazon's got a combination of abusers and some of the reports are people who have bought less
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than five items return them and especially when amazon's selling shoes like amazon's zappo social security.com. shoes don't fit, that's a tough thing to sell online. there should be some more accommodation. >> dagen: i have sat in a store here in new york city and watched a woman buy 15 pairs of shoes because of -- shoes that were $1,000 a pop. not kidding. because she didn't want other people to have them. no, she didn't want any of the other women who were itching to try the shoes on to have them and then she turned around and i know this for a fact within three days brought them back. >> maria: you're on the customer here. you don't like the fact they're taking advantage of -- >> dagen: if amazon is banning you, then you're a pain in the you know what. >> dagen's point, people are buying different sizes of the same shoe and returning the other two. they're buying them and figuring it out. >> maria: it's hard to know when
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you're buying online what your shoe size is. >> that's the whole i' point. that's why they're going back in line. i got an item from amazon that came damaged. they said keep the old one. they didn't want me to ship it back. >> johnson and murphy has the best policy, every size is available in the store, if you want a certain color, certain look, you try it on, it fits, they'll ship you what they want. >> i'll give you $50 for the wine cooler. >> done. >> maria: coming up, facebook is under fire. mark zuckerberg in the hot seat again, dodging questions by european union lawmakers on what real action is being taken to stamp out fake news and keep your personal data safe. then take a knee, get a penalty on the field. find out the new proposal nfl owners are considering if the protests during the national anthem continue during the next season. back in two minutes time, right
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>> maria: welcome back. two planes clip wipings in california. cheryl casone on headlines now. >> cheryl: the planes clipped wings at hollywood burbank airport just last night. nobody was injured. there was little damage to the planes. the airport said the accident happened when the sky west airlines plane struck the wing of a parked united airlines plane while taxiing out to the gate. the airport luckily says nobody was on-board the united plane so you have that. and take a look at this video. a private jet splitting in half after it crashed off the end of an airport runway in honduras. the plane was carrying at least six people from austin, texas. luckily, all of them were safely rescued. the cause of the accident is under investigation this morning. well, mark zuckerberg in the hot seat once again.
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the facebook ceo appearing before european lawmakers yesterday after the company's massive privacy scandal. zuckerberg again apologizing for not being more responsible for user data. fake news and interference in election, zuckerberg said facebook will make significant investments to keep people safe. >> we are doubling the number of people working on safety and security at our company to more than 20,000 by the end of this year. on top of the investments that we're making in other areas, i expect that these increased investments in security will significantly impact our profitability. but i want to be clear. keeping people safe will always be more important than maximizing our profits. >> cheryl: but zuckerberg also cominged a number of questions including whether facebook would ever allow users to opt out of advertising and whether the company needs to be broken up because it's too big. facebook shares are lower in the premarket, down more than 1%.
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well, talks will continue today among nfl owners on whether to change policy regarding players refusing to stand for the national anthem. one resolution being considered is to hand out a 15-yard penalty to a team whose players refuse to stand. other possibilities include fining the players, keeping players who don't wish to stand in the locker room, keeping all football personnel off the field during the anthem or there's the other option, the league could keep current policy or allow individual teams to adopt their own. we know that roger goodell hasn't exactly taken a real strong stance against the kneeling, maria. so he'll have a big voice in this of course among the owners. >> maria: getting tough on this. what do you guys think? >> i like the 15-yard penalty. >> i think they're making a conscientious decision. locker rooms, people were becoming bigger than the team and the whole themselves. it was distracting to the game. whether they were coming out to want to show support, deciding
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to stay in the locker room or certain individuals were going to take a knee. it was hurting locker rooms. >> maria: it was hurting the l game too. >> certainly hurting the game. >> dagen: i'll correct i said in the past. this kneeling isn't a form of speech or protest. it is protected under the first amendment because it's within a private industry. so the league can do what it wants. essentially not knowing the details that are in the players' contracts, nevertheless. the league could crack down on it. >> maria: coming up next, congress sends the right to try bill to president trump's desk. we break down the legislation that allows terminally ill patients to try experimental treatments, that's next. i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. i could feel the barb wire was just digging into the paint. two bulls were fighting, hit the truck. another ding, another scratch, another chapter in the story.
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>> maria: welcome back. lawmakers give terminally ill patients the right to try. last night congress passed a bill allowing those with deadly diseases to test spir men expel treatments not yet fully approved by the fda. the bill is headed to president trump's desk. joining us now is dr. mik. your thoughts on this? >> we want patients to get the treatment they need, even if they're not passed through the entire fda process because some patients are at a point in their diseases that there are no other treatments for them. >> maria: they're terminal. >> they're terminal. they may not qualify for a clinical trial. they may not have the support of the fda. we also have to protect our patients and make sure there aren't fly by night physicians, there aren't snake oil salesmen or pharmaceutical companies that are trying to benefit off taking advantage of patients who are facing terminal illnesses. >> doctors are already regulated so you're not going to see i
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don't think this pop-up shops of hey, come try this out, right? i think the industry holds itself to its own standards, right? so people could lose their licenses. the whole point about this is that this is a bipartisan issue that's been endorsed from usa today, the wall street journal, advocacy groups. the worry isn't about that. the worry is the quality of life for terminal patients. >> if you're terminal, why wouldn't you want to try anything at all? >> it's important to know that the fda already has a come passionate use agreement. there was 1800 cases last year, they granted 99% of these cases where they a allow patients to use medications that aren't prove by the fda. >> dagen: the drug maker and the patient can enter into an agreement. if you were terminal and you want to try a treatment or a drug from a pharmaceutical company, you can be matched with
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them and you don't have to go to uncle sam to get a thumbs up on it. >> maria: i like it. >> the thing about why cutting out the fda can be dangerous and can be tricky is thaws whe becan you apply for a compassionate use agreement from the fda they often will give guidance to a doctor from their experience from trials which is a vast experience. so in terms of dose, they'll give guidance. in terms of what to look out for, adverse effects. plus there's an issue of reporting. for example, if this bill passes and patients start using this, let's say a lot of patients start having adverse effects, the reporting will be delayed. it's not going to be able to impact whether or not the drug passes future fda trials. it's not as clear-cut as giving people options. >> dagen: the people are dying and having experienced this firsthand with more than one individual in my family, when they are in treatment for a terminal illness, you go to a
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doctor and say give me anything. give me anything that is in trial, give me anything that's experimental and they don't do it. they don't offer that. it is only through individual research and working the phones like a maniac do you even find out about alternative treatments. >> this is very true. my worry and the concern from a lot of doctors and some patient advocacy groups, there have been 100 patient advocacy and research groups that signed a letter opposing this bill, is that patients that are in disdesperate situation, this desperate need, can make a bad decision, can be too desperate and won't be guided by the fda. >> dagen: but they're dying, though. that's the point. >> maria: i totally agree with you, dagen. could an egg a day keep the doctor away? are you eating eggs right now out there? a new study out of china claims just that. an 18% lower risk of death from a cardiovascular disease for
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daily egg eaters. >> this is an interesting study. it was done on 400,000 people, average age of 51. and it did find a lot of promise in eating a single egg a day when compared to eating no eggs a day. we have to take into consideration the patient population that's being studied and how they're consuming these eggs. the way we traditionally eat eggs is on bacon, egg and cheese sandwich with bacon, with white bread, with a los a lot of -- >> you were judging there. >> i'm saying if i'm going to recommend it, we need to focus on what exactly we're recommending and the exact thing that we expect for our patients to get. >> maria: it's the whole egg as well, not just the egg whites. >> we're talking about the whole egg. >> maria: eat it. thank you. back in a minute. to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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[hero] i'll take my chances. how much money do you think you'll need in retirement? then we found out how many years that money would last them. 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?
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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. >> maria: welcome back. good wednesday morning everybody. thanks so much for joining us this morning. i'm maria bartiromo. it is wednesday, may 23rd. your top stories right now. fresh uncertainty over trade this morning weighing on markets. dow industrials expected to be down almost 200 points right out of the gate, nasdaq is down 65, 1% lower on the nasdaq. this after stocks closed near session lows yesterday as well. the major indices erased earlier games. the market was down 178 on the dow, 15 points lower on the nasdaq. in europe this morning, declines across the board. the worst performer is in germany, the dax index down
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1.5%. in asia markets finished mostly lower, with the exception of korea. the hang seng is down almost 2%. on the trade front, pushback over zte. lawmakers are taking action against president trump's plan to ease restrictions on the chinese telecom giant. it comes as the president gave an update on the state of trade talks yesterday. >> there is no deal. we will see what happens. we are discussing deals. when you're losing $500 billion a year, you can't lose in terms of a negotiation. it's really easy to win. but i want this to be a great deal for the united states and i want it to be a very good deal for china too if that's possible. >> maria: this comes as president trump casts doubt over his upcoming meeting with kim jong un. nearly 100 illegal immigrants found overnight inside a tractor-trailer in texas. 1,000. plus, lava from hawaii's kilauea volcano threatening a power plant. things are getting worse. we have the latest.
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amazon is under fire, the retail giant facing backlash this morning over its facial recognition program and whether governments are using it for surveillance. it's a bird, it's a plane, no, it's a robot. disney showing off its stickman robot that can do flips mid-air. check him out or it out. all those stories coming up this wednesday morning. joining me to talk about it, dagen mcdowell, kevin kelly and mitch rochell. great show so far, guys. >> that hour flew by. >> will we see circumstanc cirql with robots now? >> maria: robot style. we've got trade on the table, markets are down about 200 points. joining us coming up, joe leaver maleaverlieberman in the studios
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morning. and cal turner is here, cal turner june juror and the founder and ceo of behind, cara golden is with us. judge andrew napolitano will be with us as well. we kick it off with this, president trump keeping a campaign promise after the president vowed to do, quote, do a big number on the dodd-frank act. they will be easing financial regulations signed into law by president obama in 2010. senior white house officials say they hope to get the bill to the president's desk by memorial day. joining me now is jeb henserling. what will change under this new legislation? >> what's going to happen is there's going to be a whole lot more banks that will be able to make credit more available and less expensive because they are no longer suffering under the weight, load, complexity and cost of the dodd-frank
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onslaught. it's based to help a lot of regional banks and community banks and credit unions. these are the financial institutions that tend to capitalize our entrepreneurs, our small businesses, and so it's a really big deal. it's the most pro-growth banking bill in probably a generation. i think you'd have to go back to 1999 to the signing of graham leech bliley to find something comparable. kudos to the united states senate. as a house guy we're always happy to see them do anything. it wasn't quite as robust as i had hoped. but my counterpart in the senate deserves great accolades for the work to bring it over and what we're hoping for is getting this thing signed, possibly this week, dealing with banking and then moving on to the next great subject and that is capital formation and passing what we would call our jobs 3.0 act which is really geared towards
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ipos or entrepreneurs and start-ups. >> maria: i want to get to that in a moment. what i mentioned earlier was it was crazy to think that the bank on the corner, your neighborhood bank was facing the same exact regulations as the bank like a jp morgan or bank of america. i mean, these large banks with operations all over the world. >> well, indeed. and unfortunately the left has viewed dodd-frank as being chiseled on to tablets and coming down from mount sinai. many of them were loathe to deal with it. a group in the senate were more level dar-headed and understood there were unintended consequences. we were losing a community bank or credit union a day in america. as we lost them, many americans were losing their dream of owning a home, being able to buy a new car or put groceries on the table. >> maria: people couldn't get a
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mortgage. this is really good news. a minute ago you mentioned jobs 3.0 act. what is that? tell us what you want to do and would that be feasible before the midterms? >> well, yes it would be feasible. we have a commitment from the senate that they will take up a package of bills. so one, i'm very enthusiastic about what we did yesterday to pass s-2155 but there were a number of bills, bipartisan bills in the house, that did not receive action in the senate. many of which don't even touch dodd-frank. so 2155, maria, is mainly about the bank regulatory piece. but we have bills that have to do with small m&a brokers that have to do with the sarbanes-oxley 404 on-ramp that have to do with acreditted investors. what we're concerned about is where are the next apples going to come from, where's the next yahoo going to come from. and so many of these
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institutions couldn't find that financing today. so jobs 1.0 was actually signed into law by president barack obama who said it was the first step on a journey to break down barriers to ca capital formation for entrepreneurs. so this will be hopefully the third iteration of that. i've had constructive talks with number of democratic senators and so, yeah, i'm hopeful that frankly before the august recess that we could come together. i've got votes like 419-0 in the house. there's no reason that should be turned down in the united states senate. >> maria: president trump is headed to long island, new york today to meet with law enforcement officials, talking about the strategy for cracking down on ms-13 gang members who he referred to as animals in the past. ms-13 is an international crime gang as you know that has a presence in texas, your state. what's your take on this? >> well, i'm very glad that our
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president is doing this. it's one of the reasons that we have to have border security. unbridled, unchecked illegal immigration is a threat to national security, physical security, our economic security and frankly the rule of law. so the president has been strong on this. and so i know throughout texas and the southwest, and frankly throughout the nation, there have been victims of the ms-13 gang and i applaud, applaud the leadership of the president in trying to do something about this. again, it's one of the strong rationals. i know some people who come here illegally. they're good people. they're just trying to feed their families. i get that. but we have to be dedicated to the rule of the law and we have to know who's coming here because some people are coming here to do violence and push drugs upon our children and grandchildren. >> maria: how about this tractor-trailer, over 50 illegal immigrants were discovered in a
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tractor-trailer overnight. they were driving through texas. this is an 18-wheeler. it was stopped less than 15 miles from the mexico border. this news comes as diane black is introducing a bill to help crowd fund the structure between u.s. and mexico. she joined me yesterday as she outlined how the legislation would work. here's what she said. >> if someone wants to send in money to the federal government to help to build the wall, they can do so. but we don't have a dedicated fund for it and so what this does is it actually dedicates a fund so when the money is sent in it will be in that fund and be used to build the wall. >> maria: when you see the tractor-trailer overnight carrying all of those illegals, how can congress combat concerns over the illegal i' immigration story? >> two things, kudos to diane black. it's a very original idea. crowd funding came out of the jobs act. it just tugs at your heart.
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as a border state congressman, i've been to the border, i've met with our border patrol. it is dangerous. it is so dangerous for these people to attempt these illegal crossings and they're thrown in with some of the worst of society in these ka coyotes ando it's tragic how these people get crammed in to these very dangerous conditions as they try this perilous crossing. we've got to send a message, you're not getting across. don't even try it. it's not worth it. there's a legal way to come to america and we will open the door for people who love freedom and want to work hard and come here the legal way. but otherwise, do not try it because we're not going to let you in. >> maria: congressman, let me ask you before you go real quick on the phase two of the tax plan, making the personal tax cuts permanent. are you planning on getting that done before the midterms? >> maria, i don't quite know what the timing of that is.
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that's in the weighs and means committee, not in the house financial services committee. we wouldn't be here without the leadership of our speaker, my fellow texan, kevin brady, the chairman. i know he's working on it hard. i just don't know the exact timing of it but for me the sooner the better. >> maria: good to see you this morning. thanks so much. >> thank you. >> maria: president trump just tweeted this, want to get this out right now. he says look how things have turned around on the criminal deep state. they go after phony collusion with russia, a made-up scam, and end up getting caught in a major spy scandal the likes of which this country may never have seen before. what goes around comes around. president trump. we'll take a break. when we come back, lava from the erupting what whicerupting hawas getting closer to a power plant. we'll have details next. amazon backlash this morning. civil rights organizations are demanding amazon stops selling facial recognition technology to
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with the most securely encrypted main frame in the world. it's a smart way to eat lunch in peace. sweet, oblivious peace. >> maria: welcome back. fears are height everyoning in hawaii this morning lava from the kilauea volcano eyes a power plant now. cheryl casone has the details.
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>> cheryl: the video we're getting is incredible. people are scrambling to protect a geothermal plant as lava quickly approaches. officials say a potentially deadly gas could be released if the lava reaches the plant's energy wells but they ti contine to remain optimistic. hundreds of big island residents have evacuated their homes to escape the advancing lava that you are seeing on your screen. so far, injuries have been minimal. more property damage is expected on the island in the next few days. well, the technology continues to evolve but american drivers are growing more concerned about their safety in self-driving cars. there a new survey out by triple a finds that 73% of us have concerns when it comes to riding in autonomous vehicles, up from 63% from another survey late last year. the same number of people, 63%, say that are cautious about self-driving cars as a
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pedestrian or if it's somebody out riding their bicycle. you may recall that recent accident in arizona where a pedestrian was struck and killed by an uber self-driving car. the backup driver was not looking at the road at the time. well, the new duke of sussex, prince harry, had a speech for prince charles interrupted by a bee and his new wife, meghan markle couldn't get enough of it. watch. >> william and i draw inspiration from every day. to say that -- that bee really got me. [ laughter ] >> cheryl: she got a good laugh out of that. meghan markle couldn't contain her laughter. meanwhile, public guests of the royal wedding are auctioning off their gift bags online. one woman's royal gift bag fell
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for $2,800 in american money. the fabric bags include snacks and an official windsor castle bottle of water. more than 2600 members of the public were invited to attend the royal wedding on saturday. maybe i missed the numbers. i thought it was $2,800. back to you. >> maria: thank you so much, cheryl. wow. >> i can't believe -- >> maria: $28,000. >> that's too much. princess charlotte was amazing. remember, she had -- she just got a new member to her family and she had a cute wave. i think she stole the show. >> maria: she absolutely did. >> dagen: the new york post reports that george clooney, his wife amall n. were at the wedding, sh he was pouring shotf his tequila for everybody. again, best way to bring it home.
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if you're an america in britain, make sure everybody -- >> maria: did he bring it or they had it? >> dagen: maybe he sent three fe cases of it. again, delicious tequila. >> he gave 16 of his buddies a million dollars each after he sold the company. george clooney's unparalleled when it comes to this, a tequila and gifting it out. >> maria: tequila is hot. the president tweeting again this morning. here's what he said. spy gate could be one of the biggest political scandals in history. seems that way. we'll take a break. when we come back, border wall fury, an oregon student is suspended for wearing a pro trump border wall t-shirt. he's fighting back. can you tell if your leftovers in the fridge are going bad? we'll tell you about it. back in a minute.
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>> maria: welcome back. markets are under pressure again this morning. we're expecting a decline out of the gate of 200 points on the dow industrials, down 70 points on the nasdaq right now as the president muddies the waters on where things stand with the china trade negotiations. joinings us right now is chief investment strategist sam stovall. i think the president yesterday basically said he wasn't happy with the china trade talks right now and that sent markets lower. >> sure. >> maria: is the market focused now more on trade as opposed to earnings which have been very strong? >> i think so. i think really this is more of a technical move that's being blamed on by trade.
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we broke out of a what's called a continuation pattern, a descending wedge which is positive and now sor we're sortf going through the digestion phase, the backing and filling. we went right up to the top level of resistance at 2737 on the s&p a 500 and then let's blame trade and that brings us back down again. i think really the president is going through a classic negotiation phase where you offer a little bit of a carrot and try to pull that carrot away to get to the other side to be more willing to negotiate. >> have we seen this change or should we be more set for rotation? should we be getting out of certain sectors and into others as opposed to broad-based selling the market? >> i'm a big believer in rotate, don't retreat. meaning in the sell and may period, historically it's a pretty weak period but it usually rises about six out of
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10 years. so basically you are better off focusing on the more defensive areas. right now, cyclicals are doing the best. however, i think we didn't do enough pennance in the most recent time. usually the third quarter is the most challenging and watch out for september. >> dagen: the s&p 500 is usually the worst in the second quarter. so we've only got a month left in the second quarter. so could june be ugly? >> i think what it also implies is that the market is actually -- has actually declined in the sell and may period 60% of the time in first year midterm election years. there's still the possibility that we end up in negative territory for this entire six month stretch. i think what it really means is, you know what, it's going to --
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we're going to be spinning our wheels, that maybe we don't get a lot of traction until the uncertainty of the midterm election is over but a good fact toyed is that in -- factoid is the one year after midterm elections the market was up 18 out of 18 times. >> maria: regardless of who won? >> exactly, because the uncertainty was resolved. >> maria: what does retail earnings tell you about all of this. a lot of companies missed estimates. tiffany's was up. they raised their full year forecast. the others, lowe's and target, had some misses and their stocks are showing it. target down 5 1/4%. what's going on? >> you've got some of your better companies that are reporting stronger earnings. we had a nice surprise with macy's about a week or so ago. so i think what it's showing is unemployment rate below 4% is good for consumers.
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we're seeing a bit of a softening of consumer sentiment, a little bit of consumer spending as well. but i think it's really just a softening period. but retail still is doing relatively well and probably should contribute to the market's advance later on. >> maria: is any of this priced into the market do you think, in terms of -- you said things will slow down because the second quarter is typically weaker than the rest. is this priced into the market? >> in earnings, people think we hit a peak in the first quarter. expectations were for us to be up 17% so we're doing better than expected. we're probably going to see maybe 18% to 20% growth in the second quarter but back up to about 20 plus percent growth in the third quarter. so investors are wondering whether maybe the best is behind us. >> the only concern i have is look at what's happening to input costs, whether it's the rising 10 year treasury or look
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at what's happening to oil. i don't know if this will trickle into the consumer economy, talking about retail earnings, how will that impact the market going forward. >> dagen: a lot of businesses haven't been able to pass on their rising input costs. >> which will impact operating earnings which is harder for the stock. >> dagen: it will hurt earnings. if you can pick those businesses that can pass on to the consumers or that have a resilient consumer, that's where you want to -- >> just buy amazon, that's it. >> don't return anything. >> >> dagen: i'm talking about caterpillar to cisco, rising freight costs, input costs or energy prices. >> i agree with the food distributor. we're in a rising rate environment. we find it's the cyclical sectors that do best in a rising
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rate environment. it's the defensive consumer staples who are not able to pass along the higher costs to their consumers that usually don't do as well. >> we've seen that play out in the market. >> procter & gamble. >> they need a craigslist to be able to bring them out -- they need a catalyst to be able to bring them out. if we see a dive down in share prices we could see a flight to safety into more defensive areas. >> maria: thank you so much. coming up, amazon is under fire this morning, several civil rights groups are up in arms over the company's facial recognition program and how law enforcement officials are using it. the private you sigh debate coming up. then, the mom and entrepreneur behind hint water is now trying to revolutionize sunscreen for kids just in time for summer. we've got it here. back in a minute. ♪
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>> maria: welcome back. good to have you with us. i'm maria bartiromo. thanks for joining us. it is wednesday, may 23rd. your top stories right now. fresh uncertainty over trade weighing on markets. dow industrials expected to be down almost 200 points at the start of trading this morning. this after stocks closed near session lows yesterday. the major indices erasing earlier gains after president trump said he wasn't happy with the progress of the china trade talks. the market was down 178 on the dow, down 16 points on the
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nasdaq. in europe, declines across the board this morning, take a look. the worst performer in germany, dax index down 1.5%. in asia overnight, markets finished mostly lower with the exception of korea. your privacy at risk, civil rights groups calling on amazon to stop selling facial recognition software to law enforcement groups over concerns about mass government surveillance. first amendment fight, a student is suing his school after the school suspended him from wearing a pro trump t-shirt. we're taking a look at the legal battle coming up. alexa moving into your refrigerator, how the a.i. assistant can help you keep track of how fresh your food is. plus, a galaxy not so far, far away. disney announcing when star wars parks will open at disney world and disneyland, coming up. a robotic acrobat. take a look at this. disney shows off its stickman robot that can do flips mid-air. all those stories coming up this
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morning. stay with us on that. first, the top story this half hour, amazon now facing privacy questions over government surveillance. dozens of civil rights groups calling on the retail giant to stop selling facial recognition technology to law enforcement organizations. the a.c.l.u. says amazon is selling the technology to help authorities identify suspects in surveillance videos. joining us to talk about that is judge andrew napolitano. judge, good to see you. >> good morning. >> maria: what do you think of this. >> i think they're complaining to the wrong people. they ought to complain to the government. this is technology. amazon's the seller, not the manufacturer. someone's going to sell it to them. 25 yards from where we are now there are so many surveillance cameras, the city council didn't vote to put them there. the state legislature didn't vote to put them there. the police just put them there. whether it's good or bad, there's no input from elected representatives. >> maria: the police just put
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them there. >> the police negotiate with the owners of the building. we need to pay you for some space on your building to put a device up there to let us see 360. there's no legislation that authorizes this. there should be transparency and the people's representatives should vote, do you want to live in a society where you are watched 24/7 because you think it will keep you safer. this is not amazon's fault. it's not technology's fault. it's the government's fault for permitting this to happen. i come down on the civil liberties side. it should be a public debate. >> maria: as i understand it, the government has a library of facial recognition, a library, thousands, tens of thousands. >> the particular facial recognition we're talking about could take a picture of a couple hundred people at yankee stadium and just type in maria bartiromo. if you're in that picture, there's not only your picture but everything they need to know about you and every place you
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have been in new york city in the fill in the blank hours preceding the photograph. do we want to live in in this environment? >> maria: isn't it too late? i think we're here. >> it's not too late to have a debate about how this happened. it requires money to keep these things operating. the legislature could turn off the spigot or people could decide they want it. >> maria: a freedom of speech battle in brewing in an or he on high school. an 18-year-old student is suing the school after he was told not to wear a pr pro trump t-shirt o class. >> i was given the option to cover my shirt up or to go home. i think if someone doesn't agree with me, i think they're able to
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express their viewpoint. >> maria: is there a legal precedent, claiming a first amendment right? >> if i were the junk in the case -- judge in the case and it came to me, my inclination would be to side with him. that is not the law. until two years ago, students in schools had the same first amendment right as adults in the public square. two years ago the supreme court came down with a ruling that said speech can be suppressed in school if it's in the interest of safety and keeping peace and we will not second guess the suppression of school administrators. for me, that's wrong. regrettably, i believe that student will lose. >> this isn't a safety issue. >> the school will say it's for peace in the school. if a court can't second guess the government suppression of speech then the first mend ' amt is useless james clapper firing
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back at president trump during an appearance on the view yesterday. he said he did not mislead lawmakers when testifying about russian spying. watch this. >> the president's calling me a lying machine. well, okay. [ laughter ] >> what that stems from is an exchange i had with senator widen five years ago in march of 2013 about a surveillance program and he was asking me about one and i was thinking about another. so i made a mistake but i didn't lie. >> i think that's hogwash. i don't know what was in his brain at the time but senator widen's question was very clear. does the federal government spy on tens or hundreds of millions of americans. answer, no. that obviously was a lie. senator widen gave him the opportunity in secret, in one of those secret meeting where intel reveals secrets to the senate
quote
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intelligence committee and he didn't take up the opportunity to correct it. it's interesting he said five years ago in march of 2013. why did he say that? because the statute of limitations is five years and he knows he can't be prosecuted for that lying under oath. >> maria: the president reacted this morning on twitter. he wrote this, trump should be happy that the fbi was spying on his campaign? no, james clapper, i'm not happy. spying on a campaign would be illegal and a scandal to boot. >> absolutely. >> maria: it feels like this infiltration of the trump campaign is coming to light right now. >> the president's concerns are grave and they are this. the obama administration used the tools of intelligence and law enforcement to spy on a presidential campaign in order to pass that information on to the adversary. thanks be to god it didn't work. but the means that the president says they used and every day we seem to hear more and more to support the president's argument, are profoundly
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vilative of american values and the fourth amendment. >> maria: i feel everybody should be upset about this. this is not about donald trump. it's about the rule of law. >> the refusal to let documents come out, they're stonewalling. we're recognizing this is happening but will anybody be held accountable? >> i don't know the answer to that, kevin. could you imagine if the cia or fbi under george w. bush did this to ca candidate senator oba and passed the information on to senator mccain? come on. >> maria: it's terrible. >> dagen: basically fbi informants and spies were i infiltrating as the wall street journal editorial pointed out, making buddies with reverend wright or bill ayers, could you imagine if that was going on. >> they gathered intel from all sources. but james clapper and john brennan appear to have organized
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one of the most massive assaults on civil liberties under the guise of safety. if you listen to the rest of what he said at the view, it's that hey, we're in the trump campaign to pr protect them from the russians. did you tell them -- >> maria: they keep saying we were spying because of russia but there was no evidence. why? what gives you the right to spy on somebody because you say they're involved in a russia campaign. devin nunes has told us there was no intelligence used to actually launch a campaign against donald trump. there was no official intelligence used to launch the investigation. >> i've been arguing for 40 years because fisa's 40th anniversary is this year, came out in 1978, that the whole fisa apparatus would bring us to this. it is too easy to get a search warrant. the temptation is too great to get one. the fisa court doesn't second guess the people that ask for the application. they know they can get it in 15 mince. they know they can get it on
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anybody. >> maria: we haven't talked a lot recently about the text from peter strzok. we know what peter strzok told lisa page. we need an insurance policy. president obama wants to know everything we're doing. these are damming quotes. >> we know the bias of the people who did all this. they can't deny it. >> maria: then there's the michael cohen case of course. your thoughts on that. >> this is interesting. i've never seen a case where -- this is a case where michael cohen's former partner in the taxi business, known as the taxi king, pleaded guilty to some short of fraud in state court. ordinary fraud, ordinary state court pleading. here's what's unique. i've never seen this before. the guilty plea requires him not only to cooperate with state prosecutors but with federal prosecutors. pleading guilty in state court and cooperating with federal prosecutors, unheard of. who is he required to cooperate
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with? bob mueller. this is a radical expansion of mueller's tenticles if you will into state prosecution. this is after the denies of eric smischneiderman. i would have said that was like him trying to get that insurance policy. this happened in new york state court after schneiderman was gone. >> maria: i think it's extraordinary that this stuff is happening in terms of the spying and infiltrating the trump campaign and robert mueller is not looking at any of it. i realize his mandate is -- i don't know what his mandate is anymore. i thought the mandate was collusion and obstruction. then it was stormy daniels. can he completely ignore what's gone on with the fbi? >> i doubt it. if he is going to bring charges against someone and the defense is going to be the fbi and the cia had no right to be there, he those prepare for that defense. i think he's probably -- this is
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the flip side of your arresting. he's probably looking at more than we could even imagine. that's another reason why the special council will be with us for a long time. >> dagen: i was going to say, if you're going to build an obstruction case against president trump if you're bob mueller, your primary witness would be jim comey but jim comey has clearly not been telling the truth. >> that's why he has to look at this stuff. some of his witnesses are not credible. >> maria: we've got to get the documents. >> dagen: exactly. and then comey didn't know the fisa warrant was got when a dossier that was funded by the democrats. he doesn't know who paid for it. >> maria: there's a story on daily caller today that says that fbi agents in the field want to be subpoenaed. they want to dish on what they feel has been an unfair situation at the fbi. we'll he see. >> i'm not surprised to hear that. >> maria: judge, good to see you. coming up, forget the smell test, now there's a smart up u t tupperware test.
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then, disney's new robot can do back flips. wait until you see this. back in a minute. kevin kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. [fbi agent] you're a brave man, your testimony will save lives. mr. stevens? this is your new name. this is your new house.
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>> maria: welcome back. philip roth has passed away. cheryl casone has the details. >> cheryl: he died of heart failure at a hospital here in manhattan. he was known for his 1969 novel portnoy's complaint. it was a controversial book at the time, for its explicit sex scenes. he ended his career in 2009, having published more than 30 books and winning numerous awards. he was 85 years old. well, new u.s. sanctions on venezuela expect todd have a bigger impact on the global oil market than the iran sanctions do. analysts are saying the new measures are going to further tighten venezuela's oil output and reduce global supply. but iran will likely evade u.s.
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sanctions by exporting more oil to countries like turkey and india. oil prices have jumped about 20% this year. there is crude, $71.77 right now. well, tupperware joining forces with amazon's alexa to let you know when last week's dinner in your refrigerator has gone bad. some of us need this, honestly. tupperware adding brains to its containers as part of a high tech storage system, smart tagging and the app will allow you to keep tabs on what's fresh and it's not. is it time to toss that spinach? ask alexa. shares of amazon are lower ahead of the opening bell, down more than half a percent. star wars fans can finally get excited about the franchise's new disney parks. disney announced that star wars, galaxy's edge, will be opening at disneyland next summer and disney world in orlando next
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fall. meanwhile, disney is also trying its hand at acrobatic robotics. disney research released this video of a robot named stickman. he can tuck and fold into a somersault and do it in the air. the team said they will continue to work with the progra robot ad program more stunts. i'm not sure i like the robot more or the star wars park. >> maria: it looks incredible. >> dagen: before alexa and amazon we all had that in our homes. it was does that smell bad to you. >> that's bourbon, it smells fine. >> dagen: no booze. >> maria: coming up, the mom of four who invented hint water now trying to disrupt another large and lucrative market, sunscreen. she'll tell us all about it when she joins us next. back in a minute. ♪ i keep dancing on my own. ♪ i keep dancing on my own. ♪
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>> maria: are you ready for your long holiday weekend? memorial weekend is a few days away. if you plan to hit the beach, don't skimp on the sunscreen. new chemical-free sunscreen by hint will have you reapplying enough to make your dermatologist proud. joining us now is the founder of hint, cara golden. thank you for joining us. tell us about the hint sunscreen. >> we launched sunscreen this year, really focusing on the fact that a lot of people believe that they should wear sunscreen but the experience of wearing sunscreen is not that great. so we actually took the fruit from our water product and are using it to scent sunscreen. we have it in three scents,
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grapefruit, pine apple and pair and we'rpearand we pull out thet ingredients, including objectionobjectionoxybenzone. >> what is that. >> it's a uv blocker ingredient that's been used in 98% of sunscreens today. it's getting a lot of attention in hawaii for reef damage. but i actually came across it a few years ago in some research when i had skin cancer on my nose and i looked at ingredients that were potentially ex aspirating precancer cells underneath the skin and there was research around oxybenzone that said it may not be so great for you. i started asking questions. i looked into how can i create a
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sunscreen. a lot of people have said you went from water to sunscreen, like big jump, you know, what exactly was that. the connection really is the fruit. but it's also just like what we've done in water, calling attention to sweeteners and our water product has no sweeteners in it. sunscreen, we're making it a better experience and pulling out ingredients that we don't think consumers need to have. >> dagen: being from the south, mosquito central. having the fruit scent, are these sunscreens more likely to attract mosquitoes? did you do any research. >> maria: some sunscreens actually attract bugs. >> super great question. we haven't had one single person reach out to us about that issue. people have asked the exact same question. a friend of mine took it on a hike in vietnam where you typically are told to wear deet and she decided to wear hint sunscreen instead. i said i don't want to know
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about this. she did it and not one single mosquito bite. we're confident. we don't talk about it as a bug repellant but we haven't had one single person reach out to us about that. >> where can consumers find it. >> >> we have it online at drinkhint.com. >> maria: how much it is? >> $17.99 at most stores or less. we're nationwide at target as well as cvs starting this week. very exciting. >> amazon too. >> and on amazon as well. so we're really excited. it's great for kids as well. we always tell people that when you're applying it you put it on your hand first, so you don't just spray it, t ge get it in yr eye. >> maria: hand first and then put it on. >> it's super great. marie claire, lots of other publications have said it's one of the best sunscreens on the market. we're very, very excited about
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it. >> maria: congratulations. that's fantastic. the number of fo fortune 500 ces have gone down, down to 24 this year, after reaching an all-time high of 32 last year. do you think about that at all, given your position as the founder and ceo? >> we're a private company now. but we just crossed into the area of profitability which is very, very exciting. >> maria: fantastic. congratulations. >> i think at the end of the day it's -- you've really got to have a great product and which i know we do and then the consumer really is driving whether or not you're going to be able to be successful. so i'm confident as still not only the ceo but as the founder of this company that we'll be able to do that. >> maria: thanks so much. we'll be right back.
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maria: welcome back. good wednesday morning. thanks so much for joining us. i'm maria bartiromo. it is wednesday, may 23, top stories right now 8:00 a.m. on the east coast, fresh uncertainty over trade weighing on markets futures pointing to a sell-off start of trading, down 200 points three quarters of a percent nasdaq down better than 1% 70 points lower stocks closed near session lows yesterday as well major indices he raised gains after president trump said -- was not happy with progress of the china trade talks here is what he is saying now tweeted this, our trade deal with china is moving along nicely but in the end we will probably who to
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use a different structure in that this will be too hard to get done to investor results, after completion. >> hmm. >> global markets are under pressure european indices down across the board worst in journey dax down one and two-thirds% right now in asia overnight, markets finished mostly lower exception of korea the worst was hong kong hang seng down almost 2%, on trade front this morning, pushback over zte, lawmakers are taking action against president trump's plan to easy restrictions, on the chinese telecom giant what it means for negotiations going forward. plus preparing for implosion north korea trespassing to shudder nuclear test sight ahead of historic summit between president trump and kim jong-un president now says that that meeting may not come down as planned. >> there is a very substantial chance that it won't work out and that is okay that doesn't mean it won't work out over a period of time but may not work out for june 12 the very
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latest from washington and pyongyang this morning, in striking in sin city tens of thousands casino workers in las vegas red to join the picket line first time in more than three decades, how much the strike could cost the strip. coming up, a cut above the rest tiffany surging the iconic. >> you you willer past earnings expectations with fiscal first quarter numbers stock up, 13 1/2%, other retailers not so great like target not looking as bright this morning roundup coming up there are some stocks down, substantially. >> meanwhile, who needs a down payment when you can trade in your old home instead. >> we will tell you about the new start-up now taking the -- out of buying a home hall of fame if you don't know what soccer star brandy k yoobrandyh tranquilize of the world cup winner a red card across social media to break it down
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fox business network dagen mcdowell, been of them mark managing pattern kevin kelley tw.c. a purpose mitch ro ch chel -- "mad dog" important to note, two pm we are getting the fed minutes from may meeting which people you know on the street circle different words try to track to see is this going to lead to raise even more, than anticipated later this year we know there is going to be a rate hike in june some people are thinking as welcome as december will there be something in between those dates, so 2:00 if you start to see market movement because of the fed minds breakdown of those. maria: good point, of course, retail story very much mixed story tiffany up 13 1/2% we saw mixed numbers, on target. >> yeah. maria: and lowe's. dagen: target of those three i think hardest hit this morning, again -- transition here for the fourth year in a row. >> they are all reeye firj
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guidance as well as earnings earnings intact just what are they going to do competing gnz each other on tap. >> joining the conversation joe lieberman in studio, republican national committee chairman romney mcdaniel with us former ceo dollar general cal turner, jr., host of "varney & company" stuart varney weighs in don't miss a moment of it kick off right here with this, comcast, breaking news, from comcast, says it is considering a superior all cash offer to acquire 21st century fox after spin new fox any offer for fox would be all cash at a premium to the value of current all storeh share offer from disney you know comcast trying to break up the deal that is already in place, between 21st century fox and disney, disney down a third of a percent percent come passivity shares down 1 1/2% considering, an all cash offer they are
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calling superior to the disney offer we will watch this obviously, 21st century fox is the parent company of fox business network, want to switch gears president trump keeping another campaign promise, president vowed to go a big number on dodd-frank act lawmakers voted in favor of bipartisan senate bill easing financial regulations signed into law by president obama in 2010 blake burman at the white house right now has the very latest blake, good morning to you. reporter: maria, good morning to you as well so much focus rightfully so international issues north korea, i was speaking with senior white house official says we have gotten a lot of thing done here domestically win last week president trump is tweeting about that as well, this morning just a couple minutes ago the president president tweeted saying quote big legislation, will be signed by me shortly, after many years, right to try, and big changes, to dodd-frank. that was what was pointed out by this white house official
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the white house had been hoping for weeks that they could get this dodd-frank rollback bill to the president's desk by memorial day we could will happen house of representatives yesterday with help of 33 democrats in senate before that, with the help of 17 democrats passed this new measure, the headlined here that the strikeer regulations will now be applied to those banks that have assets of 250 billion dollars and higher, the american banking association celebrated this with a statement saying quote, there were essentially mirror to do to recalibrate regulations tailor them based on bank risk profile business model the common sense changes included in the bill will help banks particularly community banks get back to the about basics lending to credit worry borrowers, creditworthy rather borrowers businesses critics say this turns a blind eye to what happened during the financial meltdown, for example, senator elizabeth warn tweeting this morning big banks have spent millions trying to rollback rules we
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put in place, after we built them out 10 years ago president said in tweet with he will be signing this shortly, maria i am told that it is likely that he will sign it tomorrow, definitely will happen before the weekend you know how timing works out around here, probably not going to happen today, as he heads to new york. for in a ms-13 roundtable. maria: blake thank you so much watching that what happens, in that long island meeting the president has on m1i6789 -- ms-13, chairman of united against nuclear iran, senior counselor joe lieberman with us good to see you. thank you so much for joining us we have a lot to talk to you about served in homeland security committee during time in congress, i want to ask first your reaction, to if immigration fight that is happening right now. >> well -- happening -- lot of ways generally speaking i am pro immigration.
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because granimmigrants made our country we need more to do some jobs not being done. maria: you want it to go legal. >> there have to be rules, right, so we got to distinguish between, legal and illegal immigrants i any anybody who favor immigrants as i do should want the rule to be enforced as best we possibly can. there is a really interesting effort going on in the house to try to discharge a bill, on daca the dreamers, and it is bipartisan, getting closer and closer to having enough signatures to bring that bill to the floor that will be a breakthrough, i favor it, these are kids brought here by the parents -- and -- it has to pass tests they got to prove he they haven't gotten in trouble in the country that they are living according to the law. >> most people agree with you we want immigration but we want it to be legal i mean last night look at this 18
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tractor-trailer stopped last night 1,000 illegals in it, yeah -- >> i'm sorry 100 illegals. >> that you cannot have there have to be rules not open engagement here but about average not about average, bottom line immigrants contribute to economy and country come gem speak fixing weed out the ones looking for trouble, the minority they come wanting a better life in pursuit of better life to help the rest of us live better. maria: we need more people for the jobs you made that point earlier about the economy. >> right, this is a time for legal immigration ?roo right legal immigration lemon wereish to nor hermit king to comploed nuclear test side in next day or two towards dee nuclearization head of historic summit the president is having doubts earlier said, the meeting may not happen on
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june 12, listen to this. >> okay. >> i don't want to waste a lot of time i am sure he doesn't want to wait a lot of time so very substantial change it won't work out that is okay doesn't mean it won't work out over a period of time. but it may not work out for june 12. >> your thoughts senator on north korea. >> well, i think this is "the art of the deal" president. in other words, i don't know what is going on behind-the-scenes. maria: are um-hmm. >> but it looks like something is bubbling this comment is saying i want to make it pretty clear to kim jong-un i don't want a meal more than he wants a deal, in other words, if we get to go to singapore we negotiate something, good. but -- we both have to want it and i think in the past certainly, with p5 plus 1 object managers with iran, it certainly came to look like we
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wanted a deal more than the er iranians wanted it part of why that ended up a bad deal so look, i -- it would be a break for kim family, this kim the third generation, if they really were willing to come to the table, and denuclearize but it feels like maybe there is just a little hope that this young leader will surprise us -- >> china, helped get him to the table. they really did now with this deal or no dealer, framework between u.s. and china lawmakers in u.s. are pushing back on china, basically saying look we are on the other side of this, we are voicing our disapproval of president trump's potentially easing sanctions on chinese smartphone makers zte the president says there is no deal on that yet here is what he just said. >> there is no deal.
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we will see what happens we are discussing deals when you are losing 500 billion dollars a year, you can't lose. in terms of a negotiations. it is really easy to win. but i want this to be a great deal for the united states, and i want it to be a very good deal for xhooin too if that is possible. maria: for china to a if possible. >> i am glad honest no deal i didn't think there was a deal this week basically regulates red flag saying just case china buying 200 billion dollars more stuff does nothing for the more important issues, which is the fact theft of intellectual property the forced transfer of technology from american to chinese companies your thought son china u.s. relationship. >> i agree with you, look this is a relationship that is rising as most important for us, the chinese are not threatening to us in the same way that iranian ares a radical islamist extremist region support terrorism chinese play a tough againing
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we have know for years stealing our intellectual property. >> won't admit it won't. >> i can tell you when in senate seaing classified stuff they were doing it, i think time to blow the when i feel we have the opportunity -- depend on each other chinese and us, for economic growth in a lot of ways. they are taking, advantage of us now, and i think one of the ways in which they are is on the theft of intellectual property the rule of congress with regard to the zte is really important congress standing up, fighting. >> saying wait mr. president not so fast. >> not another piece on the table to negotiate. maria: right. >> this is really our security. maria: seems appropriate, that is more important for american business want to ask you about iran. >> okay. maria: secretary of state mike pompeo threatened country with massive sanctions if tehran does not abandon the nuclear a bill production program halt aggressive
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actions across middle east your thoughts where we stand on that speaking as chairman of the group a bump united against nuclear iran i could not be more supportive of the trump administration policy here, the original iran nuclear deal was a bad deal we gave a lot away got very little in return, and we did nothing, about the nonnuclear aggression and support of terrorism, of the iranian government so i think now, president broke out of the agreement, it is time to start again, i thought secretary pompeo speech the other day was right on target, let's sit down with iranians negotiate stop the aggression, in the middle east stop support of terrorism, and, of course, stop nuclear program, let us spec comprehensively original agreement didn't do, what is in it for them tremendous opportunity to raise the standard of living of their people, who are suffering now
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because of the government. maria: because will they sit down? >> i think here is what i think this is a radical ideologic theological regime they will only do it if they think the survival of the regime is on the line, there is a lot of restiveness in the country we tried other way before didn't work now trying to play it tough and it can work. >> senator thank you, senator joe lieberman. we will be right back. thouse fi, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they can focus on new things like exotic snacks. talk with your advisor about shield annuities from brighthouse financial- established by metlife.
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market lower retail squarely in focus nicole petallides on floor of the, no, new york sto exchange with roundup. >> retail watching lowe's in particular they had a mix but outlook upbeat you know ellison coming from jc penney stock up 3%, you are seeing that one upside, and they are blaming, of course -- we heard from home depot the analysts who covered home depot said people are going to do their products in the summer we will see if it goes the same for lowe's upbeat outlook target they did have a sale beat earnings profit mix ceo has talked about the fact they have been spending, remodularling spending billions only for delivery in order to compete against amazon these are near-term headwinds blaming the spring, and so you are seeing the stock right now down 6% and then there is tiffany little blue box set to open at all time new high. this is after the blowout
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numbers they beat and raised the outlook so we will watch for new high 14 1/2% to upside and billion dollars share buyback program, the record close 109. 88 well above that, maria. >> we will watch that coming up, stacey abrams wins gave democratic primary becoming nation first black female nominee for governor, romney mcdaniel will weigh in on primary results coming up. >> yiz tiana ronaldo statute gone wrong, bandy which is a tape h -- chastain has something to complain with too back in a minute. ♪ ♪
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. >> the eroding -- 2018 is every about it as important as you wrote in 2016. although i am not sure i really believe that but you know [laughter] >> i don't know who the hell wrote that line. >> president trump last night at event in washington, jokes aside the midterms high priority for the gop to make sure they do not lose any ground in congress. joining me right now republican national committee chairwoman romney mcdaniel good to see you thanks so much for joining us. >> always great to be here thanks for having me. >> you know feeling
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increasingly like this vote in november as important as in 2016. >> it is. i mean we are on an economic turnaround in this country we are on an historic comeback we cannot lose that edge, and if we turn the house back over to democrats we know what happens in washington it is closed for business for the american people. and if you want to continue to see jobs coming to this run record employment wages going up keep republicans in the majority. >> nancy pelosi said, when and if, she become speaker, her words, she is going to raise taxes going to redo the -- and takeaway the tax reform plan so i don't know so public saying that basically navigating as far as saying she wants to redo what president trump put in place that includes regulates taxes raising taxes. >> you saw last night
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progressive winning continues to win want more government in your life take home less money in paycheck, they want to shut down our economy, they wanting to back to low economic growth, under the obama administration, i don't think that is a winning strategy for the american people, who are now seeing that their lives are better because of president trump, because of policies he put forward i see it all across the country, people feel good about their lives they feel like their jobs are better their opportunities are better, and going to vote, for the party that is putting that in place for them. >> we had four primaries four states yesterday in terms of primaries one big race people warming runoff is now set for gop you been gubernatorial raez in georgia winner faces stacey abrams make mist first black woman in the country to run for governor what do you see as yesterday's primary saying about where fund-raising hope is immediate for midterms on your side. >> in georgia we did see more republicans turn out in the primary than democrats, a ten
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point margin in favor of republican turnout great for us that state we want to keep that governor seat nathan leaving the mansion in georgia has done a great job we want to continue that trend for that state whoa i am seeing the money most offing in states around the country 26 states in making a difference -- turnout high in primaries generic ballot is narrowing yesterday you saw for the first time republicans leading in the generic ballot, means that our message that we are taking to voters that republicans have delivered on promises, that our military stronger isis on the run putting in good judicial candidates on the bench, that your wages are up but the economy is doing better that we have more jobs, people are feeling that they see it there is more optimism out there, and they know that it is because of republican leadership because, democrats have sat on their hands the last year and a half voted against tax cuts what are they putting forward as vision for this country?
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>> well they are resist strategy #resist. >> you meanings the generic ballot first time election cycle republicans let democrats on generic ballot according to reuters poll 38% registering voters would pick a republican candidate if midterm elections were today how important was that generic ballot. >> i am always skeptical of generic ballots al comes down to two candidates but to see that increase, shows that voters overall are feeling better about republican leadership, president trump's numbers strong, we at rnc, have been in 26 states taking that message to the voters resonating seeing that in battleground districts that we are in important danger with record fund-raising doubling, to be on ground early to convey the different than we are making in lives, through good policy in washington. >> and the president will attend a joint fund-raiser because between rnc and reelection pain in new york
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annihilate tell us about that, has been another big month for forgiving for the rny he raising 13 million dollars in april was that a record for nonpresidential election year? >> it is. we have broken every record for any political party in nonpresidential year and a lot of that is because, of president trump. he brings energy to our party, obviously tonight we are going to have a big fund-raiser in new york, the other thing is president trump is completely inducted in midterms not only going to hefund raise you see him on rally nobody nerjs, our base he made promises keeping them, the american people are taking notice. >> so the money in april, brings the net cash to 43.8 million crushing dnc total puts rnc in a good position for midterms mow do you spend that money also in terms of
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the democrats there is a narrative that they are doing better in terms of small donations because the structure that basically president obama set up, to give money on an individual basis, is very structured and very positive for the democrats. >> from rnc perspective we have 43 million cash on hand raised 184 million doubled dnc but their cash on hand is roughly 8 million how do you spend it we are in battle ground states engaging voter base training volunteers knocking doors talking to voters one-on-one about issues that matter to them it is a huge difference maker in elections when you have the data on voters when you know what matters to them you customize a plan to turn out each and every vote that is what it is going to come down to in november when i is the party best organized able to turn out voters win independents we are in best position as rnc than ever going into midterm more voter contact raised more money trained more volunteers, we
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are more battle ground states because we know how important to keep he majority if we don't all great gains under president trump will be stopped by nancy pelosi and partisan kronies party don't want to work with this president at any level. >> even this fbi investigation, you know, they don't want to give up documents, to the -- chairman of the committee like a devin nunes trey gowdy goodlatte waiting for clock to run outs expecting that, you know, the leadership will turn, and then the story goes away. >> the best lesson to democrats to restore republicans to leadership they are coming to washer say it obstruct resist delaying, and stopping our government from functioning, was not a winning tactic we better work with president trump he reached his hand out time and time again to democrats said i am willing to work with you they have made the calculus that they are better off saying no, not
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working with this president they think will be a winning strategy in november if we rebuke that strategy they will come to the table work with this president into 2020. maria: we leave it there ronna good to see you we will be watching thanks so much ronna romney mcdonyell concerns for casino industry tens of thousands of union workers on las vegas strip vote to author a trick, smalltown values helping shake family business into becoming a national powerhouse i speak with former ceo of do already general he is here with secrets to success next, a start-up aiming to is change real estate game details on company looking to make trading in your home as eedz as swapping a used scar later this hour right here. ♪ ♪ [music playing] (vo) from day one,
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that is cool. and if you still have any questions you can always chat with us on facebook or call our experienced service team, 24/7. yep. just because you're doing it yourself doesn't mean you're on your own. that's great. you're still up. alright. you're still up. if i knew you were gonna run the table i wouldn't have invited you over. call (866) 285-1934. act now to take advantage of commission-free trades for 90 days, plus get up to an $800 cash bonus when you open and fund a new account. ♪ joining us i am maria bartiromo. wednesday, may 23 top stories 8:35 east coast right now markets under pressure this morning futures indicating a decline of almost 200 points, the start of trading, amid uncertainty over trade negotiations with china, global markets under selling pressure in europe declines across the board worst had the in germany dax down almost 2%, in asia overnight, markets
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finished mostly lower exception of korea, as you can see, there, running out of ammunition new report says u.s. faces a shortage of could struggling to keep up with manufacturing more coming up, skadz chaos looming tens of thousands union workers on las vegas strip voting to authors a strike when it could start. >> selling your home one company that will let you trade in your current home, for the next house. celebrating career of soccer, star brandi chastain looks nothing like her -- all stories coming up this half hour with dollar general, the king of. >> series toys "r" us shutting stores dollar general expanding opened 1315 stores in 2017. dollar general booming the state of the retail sector americans consumer cal turner,
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jr., former dollar general ceo author of my father's business small town values that built our general into this company. >> what is about it dollar general the smalltown, that you reference in the book in april there are a general does so well. >> i can tell you what it was i am retired, but it was the small town roots of that company it was understanding the customer because we came from the customer base. we know and love the people that come into the dollar general store. >> are did -- do retailer today understand the customer you refer to we've got earnings for target lowe's, tiffany a very different story tiffany is doing very well, the stock is going to open at all time my lowest down sharply because of missed earnings expectations characterize the environment today if you will. >> i hope retailers know the customer, because they will do
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better if they do. i think it is a matter of staying in touch with the customer and learning how the customer might be change what is going on in the market, or what is the need of the customer, that might be different today. >> i want to point out for people don't know dollar general dollar general goes into small towns, where other mainstream retailers do not go. they open up in places and serve a customer a business not just underserved but isn't served at all by other major retailers traditionally general will be in a town not even on lowe's' 3457 that is part of their problem. >> small downs did he find dollar general, we are proud of that. >> can you talk about that supply chain how critical in operating the business the supply chain considering you are in small towns getting the goods in this. >> it is very critical. i think that is the edge there
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are a general has, because it its objective to be in stock nearby on toilet paper when customer runs out you don't want to get that through the mail. >> what do you make of the price of oil going up how sensitive are the dollar general consumers to you know gas prices going up? >> i used to say about our customer that the dollar general customer this is a permanent recession we want to help with stores whatever their need might be. >> similar to walmart? >> well we share commerce. >> yeah. >> it is interesting how i put that we share customers with them but we do. >> when i talked to the landlords for real estate whether dollar general any of the the problems retail he tend to proclaim on retailer i talk to trailer they blame it on land lords what do you
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think of the finishing pointing in retail industry in terms of who who is at fault for some destruction going on. >> retailer gets over blame better will do better. >> gets over game. >> he blaming others you don't blame others that was issue between the real cal tyranny and me we can't blame people when something goes wrong get over that i learned that from my mother maria from my mother. >> what dagen said earlier was interesting you can say because you are going into areas where others are not really focused, and dollar general, 22-billion-dollar market value eclipses the largest u.s. grocery chain kroger has five times revenue what does that say about dollar general and secret to success. >> well, it says that if you are out there where the people are, meeting their needs better, you are going to do better. >> all about the customer. >> it is about the customer,
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especially, unreal to see how dollar general hass completely separated from sort of e-commerce revolution happening do you think that eventually one day dollar general will need to set up omni chaem situation because we are seeing 95% of all retail sales happen to companies that have digital presence as well as off-line prens. >> -- presence. >> i think also a a revolution going on in retailing i have confidence in the management to be on top of it. dagen: your customer might be less sensitive to gas prize in some way case you are in areas you are close to the people who need just basic goods. so they don't have to drive they have to drive a lot further, to a walmart than they have to drive to a dollar general, number one, number two, these are communities i
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mean we live in highfalutin new york city these are communities don't have next day deliver from fedex you can't pay for next day deliver, so when you talk about buying things online, that is something foreign if i need toilet paper if i need dish washing he detergents, tissues at dollar general half a mile down the road, versus an hour away or via mail. >> you had that statistic share with audience proximity of the shares the population. >> 75% of the population of the continental united states lives within five miles of dollar general store out of basics there is a dollar general store nearby in stock. >> how hard to step away from family business this book my father's business you center aed a fascinating story with the world about the company
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regeneration reason i he family business would go public tell us about that. >> well, it was hard for my dad to step away. he didn't, he was there until he died. practically my objective was to help that company get the best of entrepreneurial past would be proegsly managed be great entrepreneurial company stay in touch with customer be professionly managed walking away easier for me than for the real cal turner. >> family business three about generations. >> it is but if you have a sense of personal mission, you know who you are, and it is not too connected to any organization. maria: great to have you this morning thank you so much cal turner jr., my father's business is the book check it out coming up thousand of las
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vegas union workers could walk off the fob for the first time in decade pou a potential strike could cripple the famous voter next. >> brandi chastain's plaque uproar on social media take a look back in a minute. ♪ ♪
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i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance. >> welcome back new report says u.s. military running out of bombs cheryl casone with the story. cheryl: something else, not only is military running out of bombs, it may have trouble making new ones, according to defense news a pentagon report says the key suppliers are no longer making the necessary parts and materials for bombs. and price of chemicals going up report blames start and stop nature of munitions business over the last 20 years, the pentagon plans to
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spend 20 billion dollars on ammunition but there may not be enough manufacturers to make it all. >> and, honoring our nation's military heroes volunteers planting 10,000 flags university of fooenof phoenix c ahead of maryland this year's theme fallen not forgotten, it is school's ninth annual memorial day attribute donated to local veteran cemeteries after the weekend. >> tens of thousand dollars las vegas casino workers threatening to go on strike 25,000 union members voted to walk off the job if noaa five-year contract is not reached the culinary union contract expires may 31 strike could happen any time starting june 1 could cripple some of the resorts caesar's palace
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bellagio. >> san franciscan trying to save faiz internet joking about unlikeness for her chart chastain thanked hall of fame for the recognition has been gracious said -- flattering but not -- >> read about it, people complain -- [laughter] -- >> i think we see resemblance one tweeted i don't know about brandi chastain but they nailed ricky rooney hall of fame will redo the plaque, this reminds me of createsano ronaldo. cristiano ronaldo. >> they replaced cristiano ronaldo one looks so much better about unbelievable so it is so hopefully. >> i am glad replace yanny
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laurel thing that had to go. >> the cristiano ronaldo statute looked like a man? brani's which is a payne's plaque look plaque. >> brandi chastain's plaque looked like a man, too. >> we are going -- to -- the ceremony tomorrow we got to go we got to go. >> going to do to honor her. >> she really looks nothing like it. >> we love the look of her face when saw it for the first time though that was the priceless picture. >> smiling now but i don't think she was when she first saw. >> it you can't regift it. >> a new start-up aims to change real estate game details on company looking to make trading as easy as swapping in your used car next right here. ♪ if you are, you say you are, a super star, then have no fear
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maria: san francisco start up open door labs offering a new home buyers trade in option like the way you trade in a car company teaming up with home builders if you are ready to buy new home trade in current house for new one taking brokers out of the game seeing success "the wall street journal" reporting open door facilitated purchase of 40 million dollars worth of who else last month, what is your reaction. >> i think interesting but question is what price do they get you out if you trade in if you ever traded in a car, the
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number about the dealership gives you never really the number you think car is worth you need to sell yourself the difference between that and market value of the house probably where they make money also in a period of rising house prices so you maybe better off doing it yourself but interesting model. >> i mean there is limited capacity in the housing market right now so that is why we're seeing prices appreciate the rapidly, you also have invitation homes owns a bunch of homes they have capacity after 2008-2009 if you look at housing market whether using blotching technologies going to -- get lower commissions or technology, like this where able to get you out, you can do a trade-in, paring up with -- and i can tell you need for this the need is because, relocation right if i am moving from new york city to let's say texas, i need a relo, quick, and so that is
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why there is a demand for this. >> an interesting model, you naild the word disruption, the traditional real estate buyer seller broker model has yet to be disrupted so a bunch of entrants trying to step in use technology to do it. >> select markets including las vegas trade in option expected available in 20 markets by the end of the year i would be afraid of i wasn't preth proper val for my overwhelm who is to say trading in your home for the home you want to buy is the -- i don't know. >> yeah, i think there is also the issue, so one of the arguments that has been said numerous times you need to prep your home could be repairs things you didn't know that could have impeded you from selling quicker or that could have cost money because you had to get it, sale ready that is an issue happens a lot of times in the home selling process because you may think worth something but nothing is
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i worth something nothing is worth something until somebody is willing to pay you that price you need to get to that. >> the market. >> a short break when we come back final thoughts from all-star panel. stay with us. ♪ ♪ ♪ [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? . . . [hero] i'll take my chances.
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♪ ♪ maria: welcome back, market dowfn about 170 on the dow. final thoughts from the all-star panel, mitch roschelle. >> i think all eyes on the market are going to be on the fed minutes looking for nugget of news where rates will go up. maria: 2:15 today we get the details, kevin. kevin: great economy, earnings are doing well. we talked about amazon and return that reminds me of distribution and logistics, who wins, growing 7% in revenue and returning at 3% in dividend to shareholders. get in the industrial warehouse names. dagen: one thing that i want to point out and this was via mitch roschelle last night was that yesterday you had secretary mnuchin still say the aluminum and steel tariffs are still in place for a lot of countries, that's worrisome to the markets and to that point, there's a story in the wall street journal
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that among america's top 10 steel city that is job growth has been slower overall since the tariffs were introduced than the overall growth in the united states in terms of jobs. >> i said last night, you heard it here from dagen. [laughter] maria: thanks, everybody, varney & company begins right now, stu, take it away. stuart: i shall, indeed. good morning, maria, good morning, everyone, we have a selloff, interest rates way down, oil is down, you might think those are positives, look at that. at the opening bell looks like we will have a significant drop for the dow, s&p and for the nasdaq. now, we can't put our finger on any one reason, the north korea summit may be in jeopardy, that's what the president suggested, stalemating the china talks, real concern that a new italian government will create havoc within the euro zone, you can jumble those up and come up as reasons, i think we have what some call as headline risk. computers read a negative in newsor

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