tv Mornings With Maria Bartiromo FOX Business July 12, 2018 6:00am-9:00am EDT
the s&p 500 yesterday down three quarters of 1%. taking a cue from wall street and on the upside of 48 points. two thirds 1% of the cac up 18 points in the dax in germany at 35, one quarter of 1% in germany. in asia overnight come as you can see higher across the board from the shanghai composite better than 2%. a crude awakening auto posting the sharpest decline in over a year yesterday. opec said world demand will decline yesterday. a bit of a rebound this morning $70.94 a barrel. i sat down with them exclusively two weeks ago. >> opec is manipulated and allowed less than we thought last week. they have to put out another 2 million barrels in my opinion because we don't want that happening. the iran deal is going to make
up for it. >> a closer look at the oil market coming up this morning. fbi agent peter stzrok breaking on the extent patients about his his -- broad, gearing up for nearly night $10 billion. how that could take the chip making giant into a new direction. forget hawaii. the best states for retirement. we've got the list right here later this hour. should we talk all about it, investment strategist with the ballots here. "the wall street journal" editorial page editor james freeman is here and founder and ceo robert walsh. good to be here. >> exciting news. a little unpredictable than the way it was delivered.
>> "wall street journal" captured an interesting picture of how they all get along so well. >> is looking in a different direction. pretty unconventional. or maybe giving them something around here. maria: book, other presidents have complained and nato allies complain again whether targeted. >> 2014 forced their hand. they started escalating them. it would be good if they fast forwarded because of the ketchup. >> president trump throughout 4% for some of these countries which i don't know if that is feasible. wishful thinking.
maria: glinted outcome you're expecting good numbers for the second order. the banks picking up things on friday. >> jpmorgan, city, wells fargo. the big question mark is about one gross stabilizer to put 6% for the first quarter. we want to see what's going on beneath the numbers here that's very good for the economy. trading, be trading will be strong. m&a, ipo was a bright spot. but then you've got capital markets and fixed income commodities. trade you all about this morning. the garbage editor dennis gartman. it had something is this morning. former mississippi governor founding partner of dg arcaro in the house with us. new york congressman lee zeldin is here along with house judiciary committee chairman bob goodlatte. it is his committee questioning
peter stzrok today. all of that coming out. president trump on the world stage wrapping of the second and final day this morning before heading to britain over an hour from now. the president using the stomach tube press the other 28 member nations to double this ending on defense to 4% of gdp. currently only the united states in more than 3% of its gdp on defense. seven countries above were nearly 2%% level. your take on that combatants start. >> demand was combative. we were saying this is a bipartisan policy. president obama in 2014 kind of ripping it spending. this year it looks like we are going to see the largest increases in european defense spending in years and i think you can call that the trump of fact. what is the right number?
europeans say you're spending three by 5% of gdp in the united states, but a lot and it doesn't help us. you've got commitments in the pacific on a very centrist around the world. the president was say what is the point of nato? it is to protect from the possibility of russian actions. >> yesterday the president calling out germany in terms of its relationship with russia. wanting the united states to pay for protection and yet they've got this deal with billions with the gas pipeline. >> not just president trump. it's a pipeline running through the baltic directly to germany, and makes it even more reliant. why not buy gas for the united states, which were now better able. >> i think that maybe his
approach is something that could've been different. a lot of the european union has not been supportive of germany by 70% of their gas and oil via russia. the sin, poland is none of their gas from russia. there's certainly a question to it. the president is not allowed. now that we approved, it would be great there by the u.s. export. >> the u.s. to be the supplier. >> at the end of the day we need to make sure nato has a strong voice together and i'm glad all the nato members signed their statement at the end. the senate and the house made some really strong statement that doesn't have a lot of
meaning other than figuratively. 97 to two in the senate supported the nato alliance in unanimous in the house although it was a secret vote, that unanimous in the house. so those are all positive. maria: not just the government and european countries. invested in the pipeline to germany. coming after president trump accuse germany at the a captive of russia teachers energy reliance on the country. >> he paid billions of dollars. why are countries in nato, namely germany having a large% each of energy to rush out and taking care of russia. germany is a captive of russia. >> this comes with the exclusive
interview week and a half ago. the administration prepared to sanction european cup is doing business with iran. >> absolutely. the maria: your reaction. >> hard enough the last time maintaining the sanctions regime worldwide against iran. that's a little harder this time. i do think however he's going to be a little close them off from the financial system largely appeared europeans don't want to go along with this, but they're going to have to. the loopholes that will remain as they did the last time his insurance. that is going to be a focus this time looking at 10 iranian trade insurance in london. maria: that's a good point. waiting to make comments on make
comments under brussels, giving a mini press conference as soon as we know he's at the podium ready this week, we'll go there live. meanwhile, little domestic shares. megamergers continuing. broad, green to acquire seagate technologies. months after $117 billion bid was blocked by the trump administration. >> right now it is just robust confidence within the io's. i was not going in there would really be put on hold given the uncertainty and we are on track to have the best year of m&a deal since 2016. train to 21st century facts raising its bid for the european tv giant. quickly counter offered with the big value it $34 billion.
war between comcast and fox. >> you wonder what is the right number for these assets. obviously a lot of people showing up in terms that. >> you look at the amount, the market for video content whether it is trying to buy studios from fox or whether it is netflix or amazon patent producers for documentaries and movies. this does seem to be a sellers market for people who create content. >> next year netflix wants to spend $14 million on new content to people keep up with netflix. a quick break waiting on the president under brussels. he's making a statement. we will take a break and come back as the video summit is wrapping up. a long-awaited testimony. fbi agent peter stzrok has sent
anti-trump taxes getting set to get grilled in washington announced lisa page could be held in contempt of congress for ducking out of her appearance on the hill. florida not the top place to retire. we will tell you the state were spending their golden years could be a real rush. back in a minute. ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day.
maria: welcome back. awaiting the president bristled five pair will go back to brussels expect it to make a statement at the nato summit wraps up. we will take live to brussels in terms of what is next. what if everybody expecting from the president's trip to the u.k.? it's about to meet with theresa may. under serious pressure herself. >> it has been volatile vote it continues to be tough to execute. the president has been clear he wants to work with the u.k. he has a lot of feelings towards him and he gives his view.
>> a bit couple days. the president meeting with theresa may tomorrow and then on to helsinki >> during the u.k. visit with more discussion of the free trade zone idea ruled out of the g7. >> they might have a constituency in the u.k. it's pretty complicated than the e.u. as far as cooking, you will get some cringe worthy statements and moments from the president. putin is not fine. the russia policy is tough in terms of he is doing just about everything but the pipeline to
thwart hooton, but his language is conciliatory and that's unsettling for people. tranter was wondering, what's their strategy behind bringing up the gas pipeline a few days before he goes to meet with putin. you would expect that in fact he's poking putin right before he goes to meet him. >> face-to-face with putin or angela merkel. he softens his tone has much more nice. we will see about that. the nato summit is about to wrap. we're expecting the president to make some closing remarks. overall, how would you rate this nato meeting? >> i would say to be determined. at the end of the data tier and overhangs everyone. the bold statement by the
president going from 2% to 4% with unexpected. you could argue the germany was in some way shocking. that being said, a lot of the statements he made is not actually the statements obama made in 2014. would like you to even pay more. he's not alone. he's speaking for a bunch of the e.u. maria: sort of an obvious conflict wasn't being talked about. people are taking a second look at detractors and skeptics. the approach is not what i wanted or did. the outcomes talking about 4% economic growth. people are very happy with this
choice on a federal level and supreme court level. the foreign-policy looking at the outcome in feeling this a pretty good outcome. >> this is why investors are not out about the trade sanctions, the tariffs i should say where looks like a lot of negatives for the u.s. and the world economy. given his track record of the first year at how come a lot of solid accomplishments and progress policy. i think there is a hope and a faith that they succeeded ultimately lowering trade their ears. >> i will play the other side. the rhetoric on the tariffs is not causing it. it is not good for commerce. it is not good for doing business. we can talk about the great stock market we've had since the inception of the president.
we are flat year-to-date. we are all talking about great earnings come a great ipo, no one would say we are flat. everyone with say we should've been rallied. >> just six months. i'm not questioning what's happening. part of that is the overhang of tariffs. you cannot ignore the last 45 days of the populist rhetoric, kind of putting a cat. we are volatility of 200, down 200. that keeps people nervous. that being said, the economy is doing very well. maria: let's listen in. >> if they really accomplish a lot with respect to nato, for years the presidents have been coming to these meetings and talked about the expense, the tremendous expense for the united states and tremendous progress has been made. everyone has agreed to substantially up their
commitment. they are going to outbid at levels that never thought of before. prior to us to attend the first meeting is going down the amount of money being spent going down very substantially in commitments were made. only five of 29 countries were making their commitment and that is now changed. the commitment was that 2% ultimately going up quite a bit higher than that. we made a tremendous amount of progress today. it has been at a minimum they estimate in giving you exact numbers. since last year they raised an additional $33 billion that has been put up by the various countries, not including the united states. the united states commitment was strong, but primarily they have
the amount of money they are willing to spend, the additional they will be putting up will be really amazing to see the level of spirit in the room is incredible. i hope we are able to get along with russia. we will be able to. the people in the room think so. they nevertheless -- they really stepped up their commitment and stepped it up like they never have before. an additional 33, the number could be higher than 41 they give you the final number. secretary-general stoltenberg will be giving those numbers sometime today, probably that has concluded a press statement. we are doing numbers like they've never done before or seen before. the b.c. unite in hearing that a
little bit later. we have our secretary of state as you know in john is here, so if you have any questions for the three of us. mike pompeo just got back from a third trip to north korea and read came a true expert for the best way to get there. he gets along very well and he's doing a great job over there. >> i told people i'd be very unhappy if they did not have their commitment because the united states has been paying a tremendous amount, probably 90% of the cost of nato and now people are going to start and countries are going to start upping their commitments. i let them know yesterday. i'm surprised you didn't pick it up out. it took until today. yesterday i let them know that i was extremely unhappy with what
was happening and they have substantially up their commitment and they have a very powerful, very strong nato appeared much stronger than it was two days ago. yes, hi, how are you. i know, you're very famous on television. [inaudible] >> they were probably worried because the united aids is not being treated fairly. but we are because the commitment has been up so much. i was very for them yesterday. i know a lot of people in the room. in a less fair manner, but they raised an additional $33 billion
if they go into 40 billion, but it's $33 billion as of today. today and yesterday it was probably a little bit more firm. but i believe in nato. nato is a very important, the greatest ever done. the united states was paying anywhere from 70% to 90% dependent on the way on the way to calculate. that's not fair to the united states. negotiations with the e.u. will be meeting with them next week. they been treated unfairly with trade. farmers have been shut out of the european union. you can say they're different mother basically to large extent they are the same countries. we will be ultimately treated unfairly. we will see what happens. nato is a fine-tuned machine. people are paying money that they've never paid before they're happy to do it. the united states has been treated much more fairly. yes, sir.
>> did you win any concessions in your meeting and discussions with the german chancellor when it comes to german defense spending and also this issue of purchasing energy from russia. secondly, what would you say to your critics that say they created the cnet nato you are only further disturbing things in ukraine and georgia. >> if you consider putting a tremendously additional funds at a level no one has ever seen before, i don't think it is helping russia. nato is much stronger now than it was two days ago. i think nato was not doing what they were supposed to be doing but we are doing much more than we should have been doing. frankly we are carrying too much of a burden. that's why we call a burden sharing. i was using the term a lot today. we had a fantastic meeting at the end. 29 countries are putting up a lot.
germany has increased very substantially their time. and germany is coming along and we still have to figure out what is going on with the pipeline because the pipeline is coming in from russia, so we have to figure it out. i brought it up -- no one brought it up at me and we are all talking about it. the world is talking about it now more than anything else. we are going to figure it out. and frankly maybe everyone will have a good relationship with russia so there will be a lot less trouble with the pipeline. to me, that was a very major point of contention. we discussed it at length today. germany has agreed to do a lot better than they were doing at a very happy with it. we had a good relationship with angela merkel. >> thank you. >> after all these years i know, margaret. >> thank you. maybe i'm being dense here, but could you just clarify, are you
still threatening to potentially pulled the united states out of nato for any reason and you believe you can do that without congress' explicit support in approval? >> i think i probably can but that's a necessary. remember the word, $33 billion more they are paying. you hear that from the secretary-general in a little while. everybody in the room saying to me. there's a great collegial spirit in that room that i don't think they've had in many years. they are very strong. very unified, very strong, no problem. >> mr. president. >> you have said previously one of the country to step up their spending 2%. yesterday the suggestion maybe 4% were 2% in a much quicker timetable. can you clarify what did they commit to doing?
>> what they are doing is spending up to the 2% level. some of them have their own congress and things they have to go through. they can't necessarily go with it say this is what we are going to do, but they are going back for approvals. others have agreed definitely to go to 2% of them are going back to get the approval of which do a good to go to 2%. after 2% we will start going higher. ultimately we should be in years in advance at 4%. 4% is the right number. the united states depending on the way to calculate it was for .2%. that is unfair. we had the largest gdp by far especially since we've increased it seems that thing called the election. our gdp has gone way up. the fact that our gdp went way
up means for paying for it even more which is very unfair. i explain that we will go to much higher than 2% into the future, but we are getting people up to 2% and that will take place over a fairly short period of time, a short number of years. yeah, go ahead. [inaudible] croatian newspaper. >> congratulations by the way. >> thank you. we understand your message for some people asked themselves will you be treating differently with air force one? >> no, that is other people that do that. i'm very consistent. i'm a very stable genius. go ahead. >> thank you, sir. jeremy diamond with cnn. how are you. quick question with regards to germany and the comments you made yesterday. do you feel like it when the threats he made about potentially leaving nato, insulting germany's sovereignty
by suggesting you are totally controlled by russia. do you feel like that's an effective way to conduct diplomacy and would you be able to be more specific about the commitment to secure today with regard to increasing financial commitment. is there an updated timeline, specific countries you can say because the majority are planning to meet the 2% threshold by 2024. >> germany was going to be in the year 2028 or 30. it is a very effective way to deal, but i didn't do exactly the way you said. i have great respect for germany. my father is from germany. both of my parents are from the e.u. despite the fact they don't treat us well in >> we will see, and if they don't negotiate in good-faith, we will do something having to do with millions of cars that are coming into our country and being taxed at a virtually zero
level, low level. but jeremy, it's been a effective way of negotiating, i'm not negotiating, i just want fairness to the united states. we are paying for far too much of nato. nato is very important but nato is helping europe more than it's helping us at the same time it's very good for us, so we have now got up to a point where people are paying a lot more money an that's starting really last year, it really had -- you were there last year and last year we had a big impact. again, we took in $33 billion more and u.s. secretary gave us total credit, meaning me, i guess in this case, total credit because i said it was unfair. now, what has happened presidents over many years from ronald reagan to barack obama, they came in, they said, okay, do the best you can and left. nobody did anything about it. and got to a point where the united states was paying for 90%
of nato, and that's not fair. it's changed. we had a really good meeting. we had a good meeting in terms of getting along. but we have a great relationship, everybody in that room by the time we left got along and agreed to pay more and agreed to pay it more quickly. yeah, go ahead, phil. >> mr. president, philip from the washington post. you tweeted yesterday what good is nato and you talked about nato as alliance that benefits europe that defends and protects europe, do you see any value of nato to the united states, vis-a-vis russia, does it help the united states protect from russia? >> i think it's a strong ally, i think it's the way we have it now, i think it's a much -- nato got, you know what was happening
with spending prior to my getting in office. the numbers were going down, now the numbers have gone up like a rocket ship, the numbers have gone up a lot and they've gone up rapidly and now going up further. so i think nato is going to be very, very effective. i'm impressed with and i know him but secretary general has done a fantastic job in putting it altogether and we were the ones that gave him extension of contract as you know. i think he's done a good job. i think that when i was saying that i am very concerned with the pipeline, i don't like the pipeline and when i talk about nato, how do you have nato and you have somebody to paying to people you are protecting against, maybe we will get along with the group we are protecting against. that's a real possibility. as you know i'm meeting with president putin on monday and we go into that meeting not looking for so much, we want to find out about syria, we will, of course, ask your favorite question about
meddling, i will be asking that question again, but we will also be talking about other things, we will be talking about ukraine, ukraine was here today, by the way, and, you know, it's very interesting to hear what they had to say. excuse me? >> what if he denies it? >> he may. he may deny it. it's one of those things. all i can do, say, did you and don't do it again, but he may deny it. you'll be the first to know. yes, go ahead. >> robert wall with the wall street journal. >> yes. >> if the germans and canadians don't come to up 2%, what is your fallback position, how will you up the pressure to make them actually -- >> well, they will, i have no doubt about it. they all make commitment and will be at 2%. relative of short years. >> thank you so much.
mr. president, what do you think today, georgia from nato. >> they were here today representing. >> yes, we will talk about georgia in meeting with mr. -- with president putin? >> well, they were here, they made a favorable impression and we listened to their -- [inaudible] >> come on, go ahead. >> i had a question as well but nonetheless i will ask. will you recognize -- >> go ahead. >> will you recognize russia's -- will you recognize crimea as part of russia when you -- >> that's an interesting question because, you know, long before i got here, president obama allowed that to happen. that was on his watch, not on my watch. people like to say, oh, crimea, but the fact is they built bridges to crimea, they just
opened a big bridge that was started years ago, they built, i think, a submarine port substantially added billions of dollars, so that was on barack obama's watch. that was not on trump's watch, would i have allowed it to happen, no, i would not have allowed it to happen, he did allow it to happen. that was his determining, what will happen to crimea at this point, i can't tell you, that was barack obama's watch, not trump's watch. go ahead. >> jeff mason from reuters, mr. president. >> will you be raising arm's control issues, would -- >> yes. >> would you like to extend new start and will you raise concerns of violation of inf treaties? >> yes. >> and follow-up to nato meeting today, will you suggest to him or would you consider stopping military exercises in the baltic state ifs that's something that he requests? >> perhaps we will talk about.
we will talk about three issues and many more. we will be talking about it, jeff. okay. go ahead. go ahead. [inaudible] >> we are in the -- [inaudible] >> i would like to know if you are planning to guaranty the taxpayers the new money that's going to nato will be spent in the best possible way especially the money coming from countries that have several problems with the public finances? >> well, the money will be spent properly. one of the things that we have, we have many wealthy countries with us today but we have some that aren't so wealthy and they did ask me if they could buy the military equipment and could i help them out and we will help them out a little out. we will not finance them but make sure they are able to get payments an various other things so they can buy because the united states makes by far the
best military in the world, the best jets, the best missiles, the best guns, the best everything, we make by far, that's one thing, i guess, i assumed it prior to taking office but i really learned since being president our equipment is so much better than anybody else's equipment when you look at our companies, lockheed, boeing, the material that we make is so far superior. everybody wants to buy our equipment. the question is can they make it because they are doing very well, can they make it for so many people, so we are helping some of those countries get online and bye -- buy the best equipment. yeah, go ahead. >> kristin brown with fox news. on your upcoming summit with putin, did any allies express specific concerns or talk to you about any messages that they would like you to take? >> yeah, just the opposite of concern. they actually and they'll probably come out, but they
actually thanked me for meeting with president putin. i look forward to the meeting. they thanked me, they thought it was a great thing that i was doing it and they gave us our best wishes or their best wishes. now, with that being said, we will see what happens, just a loose meeting, it's not going to be big schedule. i don't think it should take a very long period of time and we will see where it leads but could lead to productive, something productive and maybe it's not but i think meeting with people is great. we had a great meeting with chairman kim and i will tell you, mike pompeo did a fantastic job. i might ask you to say a few mike as you are here. mike, go ahead. >> yes, sir, thank you, mr. president. i did, i returned, actually came straight from north korea with a couple of stops here to brussels. we had a productive conversation. there remains a great deal of work to do but i think most importantly my counterpart made
commitment consistent with what president trump was able to achieve with chairman kim, they intent to denuclearize an now the task to get it implemented. >> i think just to finish on that, you know, so important, that was an amazing, really an amazing meeting, i thought. and i really think that we established really good relationships, we will see where it all ends, no missile tests, no research, they are blown up site, i hear they are blowing up another missile site. they have taken all of the propaganda, in fact, nobody said there's no music playing, the music was going on for many years, they said recently, wow, there's no more of the heavy music and the propaganda. they've done a lot of things an we got back three hostages. so it's a good process but the main thing is there have been no rocket launches, there have been no missile tests, there's been
no nuclear tests, no explosions, no nothing for almost nine months. okay. yeah, please. sure. >> from the guardian. in your trip to uk, there are lots of protests planned in london and elsewhere, how do you feel about that? >> i think it's fine, i think they like me a lot in the uk, i think they agree with me on immigration, i'm very strong on immigration. i've made a point today, i said, you've got to stop, you're ruining -- you will have a lot of problems, you see what's going on throughout the world with immigration. i probably at least partially won an election because of immigration. if you look at italy who i got to know quite well over the last month and a half, he won election because of strong immigration policies on italy. i think that a lot of the people in the uk, i think that's why brexit happened, now, i don't know what's going on with the negotiation, who knows, but i
guess that's become a very interesting point of contention. i said, i'm going to a few hot spots, we have nato, we have the uk, and when they have putin. and i said, putin may be the easiest of them all, you never know. but i'm going to a pretty hot spot right now, right, with a lot of resignations, but i will say that immigration is a very important thing and i told them today the eu, the european union better be very careful because immigration is taking over europe and they better be very, very careful. i said that loud and clear, yes, go ahead. go ahead. >> mr. president, romania, what will you tell president putin about this summit and about nato? >> he will see about this summit. this has turned out to be successful summit. this is, i think, really that nato is more put together right now, more coordinated and i
think there's a better spirit for nato right now than perhaps they've ever had. it's richer than it ever was, the commitments are made at higher level than they've ever been made and money paid out faster, far faster. you know, the 2% was range, it wasn't something that they were committed to, now a commitment. there's a big difference to 2% number and that's why so many people weren't reaching it or hitting it. it was like this number out there, now it's a commitment, real commitment. i think he's going to see that there's great unity, great spirit, and i think we will have a good meeting regardless of that, i think we will have a good meeting. but this was a fantastic two days, this was a really fantastic, it all came together at the end and, yes, it was a little tough for a little while but ultimately you can ask anybody at that meeting, they are are really liking what
happened over the last few two days, a great, great spirit leaving that room. yes, sir, please. >> you think you will get along with president putin, can you tell us why do you think that is there something you admire about him and second question -- >> well, he's competitor. i have been nice to me. he's a competitor. some people say is he an enemy, he's not my friend, is he your friend, no, i don't know him well enough but the couple of times i got to meet him we got along well. i hope we get along well. ultimately he's a competitor, he's representing russia. he's representing the united states. so in a sense we are competitors, not a question of friend or enemy, he's not my enemy, and hopefully some day maybe he'll be a friend, it could happen. i just don't know him very well. i've met him a couple of times and when i did meet him most of you people were there.
>> on brexit, sorry, sir, what will be your message on brexit? >> well, brexit is, you know, i've been reading a lot about brexit over the last couple of days an seems to be turning differently where they are getting at least partially involved back with the european union. i have no message. it's not for me to say. i own a lot of property there and i'm going to scotland while i wait for the meeting, a magical place, one of my favorite places while i wait for monday meeting but it's not for me to say what they should be doing in the uk, i have great friendships, my mother was born in scotland, i have great friendships over there. we have a wonderful ambassador, woody johnson and woody is doing a great job, but it's not for me to say. i would like to see him be able to work it out so he can go quickly whatever they work out. is it heartbreaking?
hard brexit. i thought you said it was letter -- heartbreaking. i said that might be going a little too far. [laughter] >> heartbreaking, a lot of things are heartbreaking. no, i would say that brea exit -- brexit is brexit. when you use hard brexit that's what you mean. the people voted to break it up. so i would imagine that's the way they would do and maybe take a different route, i don't know if that's what they voted for. i just want the people to be happy, they are great people and i do think -- i'm sure they'll be protests because there's always protests. i think they were protest it is night of the election both ways but in the end, we have 206 electoral -- 306 electoral votes and one state said, it was interesting, one of the states we won wisconsin, i didn't realize this until fairly recently that was the one state
that ronald reagan didn't win when he ran the board the second time. we won wisconsin. we had a great night. protests, there might be protests but i believe that the people in the uk scotland, ireland, as you know, i have property in ireland, property all over, i think that those people, they like me a lot and they agree with me on immigration an i think that's why you have brexit in the first place because of immigration. yes, ma'am. yeah, go ahead. [inaudible] >> from finland, do you think that half diplomacy that you are play to the same goal with putin with hard diplomacy towards eu and nato? >> well, i can't tell you what would be the ultimate -- what would be the ultimate, well, let's see no more nuclear weapons anywhere in the world would be the ultimate, okay, no
more wars, no more problems, no more conflict, let's find a cure to every disease known to mankind or womankind, that would be my ultimate, we will start from there. okay. yeah, go ahead. go ahead. [inaudible] >> from afghan service, so i would like to ask you mr. president that afghan prison -- president is going to be here. >> he's here, are you going to meet him and -- >> yes. >> what do you have to say to him and when is the war in afghanistan, people are fed up and they want to know? >> i agree with that. i very much agree. it's been going opinion for a long time. we have made a lot of progress but it's been going on for a long time. we have made a lot of progress in afghanistan i will say. yes, your president is here right now, in fact, he's in the room, when i finish with him i will go back to the room. >> one question, please. jordan public broadcasting, mr. president, can you tell us what do you think about future
membership of georgia in nato, please? >> well, at a certain point they will have a chance, not right now, they just left the room. at a time they will have a chance. [inaudible] , are you going to continue to support the kurdish forces in iraq? >> thank you. i think the kurds are great people, they are incredible fighters, they are wonderful, warm, intelligent allies in many cases as you know, it's different groups of people. but they are great people. i do, i believe they are great people. yes, go ahead, please. >> german tv. >> yes. >> you said putin isn't an enemy or a friend. >> competitor. >> do you consider him as security threat for europe or to the u.s., thank you? >> hey, i don't want him to be and i guess that's why we had
nato. the united states had the largest military budget 700 billion, 716 billion next year. no, i hope that we will be able to get along. i've said from day one whether it's china or russia, you know, we are working on trade with china right now and i don't say that's an easy situation because that's been years of abuse of the united states but presidents frankly that allowed that to happen, i've taken over a lot of bad hands and i'm fixing each one of them and i'm fixing them well. but china is going to be, i think, very successfully ultimately taking care. i have great respect for their president as you know, president xi, i spent two days there among the most magical days i've before lived. right now we are in a pretty nasty trade battle and ultimately i think it will work
out. i think we have an advantage. we picked up $8 trillion in value in worth since i became president and we are close to two times the size of china. a lot of people don't know that and, you know, we are going to negotiate a fair deal if that's possible. okay. and russia, russia, i've been get ago long with russia would be a good thing. yes, go ahead. >> indiana -- [inaudible] >> bbc. they are threatening -- >> they are treating us with much more respect than in the past. i know they are having a lot of problems and the economy is collapsing, i will tell you this, at a certain point they will call me and say let's make a deal and we will make a deal. they are feeling a lot of pain right now. yes, go ahead. >> go ahead, go ahead.
>> do we expect influence like we have seen in montenegro and what will nato and the united states do to conquer the russian influence in the western baltic? >> we never talk about future plans, go ahead, ma'am. go ahead. >> thank you very much. mr. president, from iraq. my question is about the government of iraq, you know, after two months elections, the government in iraq has not been -- what's the role and you want to talk about syria with president putin, can i have any information about kurds in syria? >> so i hope we get along well with iraq. we've certainly spent a great fortune in iraq and many, many lives, thousands and hundreds of thousands of lives if you think on both sides which i always think about both sides not just our side, and they had an
election and i hope we will be able to get along and we will see that how goes. we have already been talking to the people that won the election. i was not in favor of that war. i was very much against that war. i never thought it was a good thing but that's another deck of cards that i inherited and we will do the best we can with it. i think the election was pretty conclusive and, again, we have spoken to them, we will see what happens. yes, sir, go ahead. >> the next event, we have time for one more question. [inaudible] >> i come from a very far country, small country in northern africa, tanasia, the question, mr. president, we admire what you are doing in north africa and we really wish and hope that something again will be done in the middle east to avoid more wars and more blood and more kill negotiation the middle east with just peace process that gives everyone --
>> we are looking for peace in africa as you know, very strong list, but we are looking for peace, we want peace all over. we want to solve problems. we are looking for peace, africa right now has got problems, like a few people wouldn't even understand. they have things going on that nobody could believe in this room. you saw some of the things that i see through intelligence, what's going on in africa, it is so sad and so vicious and violent and we want peace, we want peace for africa, we want peace all over the world. that's my number one goal, peace all over the world and we are building up a tremendous military because i really believe through strength, you get peace, but we are -- we will have a military like we've never had before. we have given out orders for the best fighter jets in the world, the best ships, the best everything, but hopefully we will never have to use them.
that would be a dream, to buy the best stuff, have the best stuff, have the best equipment in the world and to never have to use it would be a really great part of my dream. thank you very much, everybody. thank you. i'm going to be going, leaving in about half an hour. thank you. >> ladies and gentlemen, please remain in your seats while a delegation departs. maria: president trump giving a pretty lengthy press conference there as he departs belgium for the uk. we just heard a number of comments from the president that we have heard during trip to nato, he called it very successful trip. blake berman in london, he is there ahead of the president's arrival there, he will be meeting with theresa may and queen of england after he calls a great two days in brussels, blake, good morning to you. >> maria, good morning to you as well. what a scene we just saw in brussels where we left this morning from the nato summit. there were meetings scheduled to
take place this morning. meetings that the president says he will still have there, but all of that sort of got blown up just a little while ago when there was an emergency meeting from the member nations at nato as to the president's demands on defense spending as you heard from the president, there's currently a plan in place for nato nations to spend 2% of their defense spending, 2% of their gdp rather for defense spending by 2024. the president wants to see that upped to 4%. the wall street journal is reporting this morning that the president essentially threw down a demand for the nations say if you don't get to 2% and do so fast, then, quote, i'll do something on my own. so what i think you just heard -- just saw from president trump was him trying to calm the waters, him trying to ease tensions saying, hey, look, we had a spirited discussion, great discussion, we get along very well and the commitments are
made for these nations to step up their spending faster, clearly, though, there were some very spirited discussions behind closed doors as well as the president wants to see the nations step up their defense spending, so president trump is set to depart from brussels shortly and the president there trying to ease the tensions an say, hey, look, we all get along very well, i think what we will see in hours, days to come the back story behind all of that. we also got a bunch of headlines, maria, just to go through them real quick, president trump saying vladimir putin not necessarily a friend, not necessarily an enemy, down lg -- doubling down that putin is a competitor and, of course, the situation here in the uk with the brexit and the president who was very supportive of brexit in the lead-up to it when he was a candidate sort of stepping away from the situation now saying, hey, look, this is up for the people of this area to decide, he didn't necessarily want to weigh in on the internal
politics here as the president will soon get the london or at least the juvenile -- outskirtsr today. maria: yeah, he was taking a lot of questions from reporters from across the globe, blake, thank you so much. blake berman we will be checking with you as the president arrives in the uk later today. i want to bring in fox news correspondent former intelligence, we certainly did hear from the president a moment as nato summit, your reaction. >> this is a president who is taking a leadership position, i think he recognizes leadership position in the in the world and taking a very strong stand on nato and what he expects from other countries and expect from our friends if we are going to call them allies an expectation that you will pony up, if we go out to dinner, we all pay our fair share.
he recognizes that. presidents in the past have not pushed nato allies and he wants more, i saw a lot of people trying to sort of bait him into a conversation about putin and what will happen when that meeting occurs and i think he basically said what you would somebody who is turning to intelligence, well, we will see, we will see how things go, we will give the person a fair shot and basically what he was saying about vladimir putin. maria: once again, he said >> i think maybe add vee adversa better word. we are not at war with russia. they have tried to disrupt our democracy in 2016. i think people will probably be gratified that he didn't call them a friend. he often does have sort of
disturbingly nice comments about them. the policy toward putin is tough. i would say tougher than -- much tougher than the obama policy on several fronts. >> i think you can consider a country an adversary privately. when you're getting ready to have a face-to-face meeting with that country's leader, there's nothing wrong with saying they're a competitor, just calling it a bogie. maria: good morning, thanks for being mere. i'm maria bartiromo. it is thursday, july 12th. we are covering a lot this morning. your top stories right now. a nato summit showdown, president trump speaking at the nato summit following tense discussions over defense spending with world leaders. >> i told people that i would be very unhappy if they didn't up their commitments very substantially because the united states has been paying a tremendous am, probably 90% of the cost of nato. now people are going to start and countries are going to start
upping their commitments. so i let them know yesterday, actually. maria: the president will travel to london for meetings with theresa may and queen elizabeth coming up. we'll cover that later on in the day today. investor concerns over a trade war taking a back seat this morning ahead of a pretty good earnings season that we're expecting for the second quarter. dow industrials set to be up 200 points today at the opening of trading. the s&p 500 up 2/3 of a percent and the nasdaq is strong up, half a percent on the nasdaq. the big banks reporting tomorrow as the kickoff to the second quarter earnings get started. yesterday the dow was down 200 points, almost 1%. the s&p also down 3/4 of a percent and the nasdaq gave up half a percent yesterday, all over worries over trade. markets are higher, taking a cue from wall street. the european indy eas indices a, across the board. money moving into stocks in europe. in asia overnight markets closed
higher, best performer was china, up better than 2% on the session overnight. we're taking a look at oil, crude awakening this morning, oil posting its sharpest decline yesterday in over a year after opec said world demand will decline next year. plus, china seeks, quote, necessary counter measures in response to the trump add a medicine strayings' plans -- administrations plans to impose new tariffs. we break down the impact on the trade story and where we are today. all those stories coming up this thursday morning. joining me this morning lindsey bell is here, james freeman is here and former economic advisor to president obama and fox business contributor robert wolf joins us today. great to see everybody today. >> great first. maria: yeah, a lot to digest. >> a lot to talk about. maria: from the president. >> can't wait to hear from the nato secretary general. the president said nato allies made a huge commitment. >> a lot to digest from a stable
genius. we have to break it down. maria: he said i'm a stable genius. let's get to jeff henserling. he joins us with some reaction. your reaction to what we heard from the president this morning. >> i'm encouraged. our allies neat blunt talk. i have been to nato headquarters before. they haven't made their commitment, their 2% of gdp commitment. the u.s. has been carrying the freight. i think blunt talk has been overdue and so the proof will be in the pudding. we need to see what actually happens here. there have been some countries that have been moving towards their 2% goal like poe hand. i hope a -- poland. i hope a whole lot others join. the u.s. can't continue to carry the financial freight here. maria: overall, how do you think the nato summit went, how did the president do, in your view? >> we have to see what actually happens.
the blunt talk is good but i want to see what is the action that follows. so i hope what i heard from the president proves to be correct, that a number of these nations will indeed make their commitments. i think nato will be even stronger and certainly i know the president, the u.s. signed the communiae that confirms how important nato is. there has to be blunt talk among friends and friends have to keep commitments. >> congressman, nice to see you. >> good to see you. >> can you discuss the bill that took place on the floor last night at the house that was unanimous with respect to nato? and then i'd like to hear your take on the whole trade war and tariff situation with china, where we're discussing now a $200 billion tariff. >> well, again, there is very strong support for nato in congress and from time to time that needs to be reaffirmed.
with respect to trade, listen, there is a lot of concern. there's no doubt about it, many americans are enjoying the best economy of their lifetimes and frankly it's largely due courtesy to this administration. but at the same time, if we have a protracted global trade war, all of these economic gains can be reversed courtesy of the very same administration. so for example, we've got secretary mnuchin coming to testify before the house financial services committee here in a couple hours and i think the administration needs to make clear several different points. number one, what is the end goal? i was very heartened to hear the president at the g7 say the goal was to actually bring down trade barriers. if we look at the only treaty that has been signed since i guess these trade troubles began, korea, well, that's not
really what happened. instead, what we saw was a take on korean -- quota on korean steel exports, an extension of a 25% quota on korean trucks. to me, the end goal ought to be for our country to be able to export more, not necessarily import less. and i continue to hear from employers and my little neck of the u.s., the fifth district of texas, dallas steel producer said she saw her costs go up 25%, she may have to lay off workers. the bottom line is, the president's in a high risk strategy here. i hope his strategy proves to be brilliant but losing less is not the same as winning. i get it that our trade partners are more dependent upon exports, but again, losing less is not winning. we need a clarification what the end goal is. i don't think it has any credibility under section 32 to say that foreign autos are a
threat to u.s. national security. i drove to work today an 11-year-old honda accord. i assure you it is not a threat to u.s. security. maria: i want to talk about this. as the secretary will testify before your committee today, it's dove tailing into a trade and tariffs issue. what would you like to see happen? china is now vowing to fight back in other than a dollar for dollar retaliation but it's assuring that it will be, quote, firm and forceful. so if china is the issue, it sounds like you're more concerned with the aluminum and steel tariffs than the china issue. how do you attach what china has been doing for so long, the theft of i.p. and forced transfer of technology. >> the good news is, maria, is both the senate and the house has acted to modernize the legislation that we used foreign investment into the u.s. maria: cfius can't decide that
a joint venture is not good. cfius can't even say to china you can't move a company right next door to a military installation. so there are a lot of things that cfius can't do. >> that's wrong, maria. if you look at the bills that have been drafted in the house and the senate, you will see that it has been modernized to include exactly what you were talking about with respect to territory being a acquired next to u.s. military installations and other vital -- so anyway, the house has passed a bill. maria: what about the joint venture? it can't stop joint ventures, right? >> there are no provisions to modernize it that deal with the non-pass minority interest. that's the whole idea is to be able to modernize the law and address these. you hit the most important point and that is most of us believe china is the main problem here and so it's the forced technology transfer, it's the forced i.p. transfer and so as
we just had this nato summit and let's face it, if you look, the membership of nato is almost identical to the membership of the e.u., i would hope that the administration would work to first unite our allies against the common opponent of china, the serial violator of wto, those that are, again, by hook and crook and any other measure, trying to take our technology as opposed to necessarily picking a fight with the whole world. maria: exactly. >> i would ask the secretary to claire you phi why are we -- clarify why are we entering into trade wars with canada, mexico and the e.u. when shouldn't we be focused on china. maria: here's james freeman. >> tomorrow we're expecting very good earnings from banks. there's good economy, interest rates are low. they're going to give back capital to shareholders. ten years after the financial
crisis, a lot of the reforms you wanted never happened. are you comfortable? are you nervous as rates rise, as we get to, i don't want to say the next financial crisis, who knows, but how strong do you think the system is for the next time we hit turbulence. >> we have a whole lot more capital in the system than we had before the crisis. my guess is the market would have demanded that without what dodd-frank did. i still have some fear that capital levels may still be inadequate. that was the whole thrust of the financial choice act. that was a tradeoff for a high level of loss of capital to be traded off for a much, much lower regulatory burden. we've probably got some percentage of that in the 2155 s-2155 legislation that the president signed into late in may. with respect to community and regional banks they saw some of
that relief. i don't think we're quite there yet, james. i'm also concerned, unfortunately, that we have never fundamentally reformed the housing finance system. i fear that many of the same mistakes that were made precipitated the 2008 crisis, a lot of those mistakes are still being made. it remains absolutely critical that we reform housing finance, have a sustainable system, quit relying upon these broken models of fannie and freddy. i still have concerns. having said that, with the tax relief, the regular to -- reguly relief, many are seeing the best conditions of their lifetime. we need to modernize our capital formation laws. that's what the house is working on today. back to china, we've got a third -- over a third of the world's ipos listing on the chinese stock market and not the u.s. stock markets where our ipos
are in decline. part of the answer in dealing with competition from china is to make sure that our high tech firms go public in america and more of them do it and that's another item that we're working on here in congress today. maria: real quick, two weeks ago when i interviewed president trump he said that his team is working on a phase two tax plan that will include cutting the corporate rate from 21% to 20%. is this something you're working on? >> well, it's not something i'm personally working on because it's not within the jerk jeers n of my committee. i will do what i can. maria: would you like to get that down to 20%? >> i would love to get it back to 20%. i would love to get capital gains tax relief. i would love to get more simplicity. that didn't happen in the first round. this was the most dramatic tax relief in a generation, the proof is in the pudding. by the way, we have more tax revenues come in so we always hear, well, you know, you spend all this money but the truth is
if we promote 2.8, 2.9% economic growth through this tax relief, the tax relief quote, unquote, pays for itself if that's something you believe in. i think there's an emerging consensus that q2 of 18 we may see 4% economic growth. there's more we need to do to keep it. i would love for there to be a phase two of tax cuts and reform. maria: good to see you this morning. coming you, fighting fake accounts, twitter removing tens of millions of accounts for suspicious activity. what it could mean coming up. jeffrey the giraffe finding a new home, where is the toys r us mascot landing now following the company's bankruptcy. back in a moment, right here. ♪ alerts -- wouldn't you like one from the market
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maria: in just a few hours we will finally here from disgraced fbi agent peter strzok. cheryl casone has the details. cheryl: he will arrive on capitol hill this morning for testimony. the testimony comes a month after a report by the justice department inspector general which criticized the agent for sending messages that cast a cloud over the fbi's work and prepared remarks he will say he has never allowed personal
opinions to infect his work and that the focus on him by congress is misguided. his appearance comes a day after his former lover, fbi lawyer lisa page, ducked a congressional subpoena. republicans are now threatening her with contempt charges. >> if she wants to come plead the fifth, that's her choice. but a subpoena to testify before congress is not optional. it's mandatory. cheryl: page's lawyer says she is willing to cooperate but she needs more time. they're going to be talking to bob goodlatte today. the founder of papa john's pizza has resigned as the company's chairman after it came out that he used the "n" word in a congress call iconference call . he usehe said he has apologizedd
says racism has no place in our society. you may have noticed few follower -- fewer followers on twitter. they have removed thousands of fake accounts. this comes after an investigation revealed a firm sold millions of fake followers to customers. shares of twitter are higher in the premarket, up more than 2%. finally this, maria, the toys r us mascot, jeffrey the giraffe, has a new home. the statue has moved from toys r us headquarters to a children's hospital in new brunswick, new jersey to bring smiles to kids' faces. last month jeffrey the giraffe was sent packing after toys r us
closed all their remaining stores. we showed you this picture because it went viral. people were so upset about losing jeffrey. he's back and doing good manufacture when we come back, pain at the pump, the rising concerns about the economic fallout as gas prices continue to rise. blowing the whistle on tesla, what one former employee is telling the securities and exchange comission about the electric car maker. the stock today is up 1 1/4% ahead of the open. back in a moment. ♪ this is no ordinary coffee. it's single-origin kenyan coffee from the nyeri highlands,
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earnings this morning, looking for a he rebound in stocks after a 200 point selloff yesterday on the dow. the dow industrials looking up 200 today. investors worried about an intensified trade war with china. will a strong earnings season be enough to right this ship. keith, it's good to see you. >> great to be here. maria: your characterization of the markets here, would you be poised to put new money into stocks right ahead of the second quarter earnings period? >> we would be, maria. we're bullish on equities. i think you have to also understand we're late in the cycle. so our expectation is you'll get returns that probably are more closer to the longer term return profile of the country. so think nominal gdp, so 5%ish, 7%, 8% returns are leal liss particular going for -- realistic. maria: you said 5%ish. >> if you get 3% real growth, we
think in the second quarter you're going to get 4%. that's not going to sustain. and 2% inflation, you're at 5%. then throw some yield on top of that, it's still a pretty good return. maria: big number, lindsey bell. >> what has been weighing on the markets from my perspective really has been these trade conversations. we see the market whip around based on the topic of the day. the industrial sector is one sector that really has been hurt by the talks. it's down about 3 -- over 3%, the third worst performing sector within the s&p 500. the early reporters have had good numbers, beating on both the top and bottom lines. the stocks are reacting really well to the reports. do you think this is a beaten up sector and this is one of the sectors you can get involved in now or do we have to wait for the trade stuff to play out? >> i think in general we're going to see a lift in the equity market. we think the second quarter when we print the strong gdp number that we expect to print, when the earnings come out and importantly, in addition to
earnings, because i think people do expect a strong second quarter, it's going to be the guidance going forward on top of that. we think that could be a catalyst for people to move back into equities. in addition to the fact that buybacks are incredibly strong. it's been interesting too, we've seen seven hikes by the fed. so 175 basis points. the irony has been the u.s. economy has remained strong but decoupled from the rest of the world. the pressures have been manifested more in europe and japan and so we're seeing a decoupling from the standpoint of stronger growth from the us, stronger financial flows and greater stability. it's been an interesting dynamic that's played out here. >> has you're looking forward to earnings here, one of the big stories of the last year is the rising economy and the demand for labor, companies having a hard time finding workers which normally would suggest they've got to pay more for them. we've seen wage wage coming up . are you expecting in this
earnings season companies saying, look, compensation is costing a lot more now or do you think that's still pretty restrained? >> if you look at average hourly earnings, they bottomed in 2012, well below 2%. we're back to the high 2s now with an upward trajectory and we're basically at full employment. the key is going to be this. you've got to watch productivity. because if we see productivity increase and a big driver of productivity will be capital spending, we think capital spending could be up 10% this year. then if productivity lifts you can absorb as a company higher wages. if productivity doesn't lift, then higher wages will be problematic for companies in terms of profit margins and also the fed, from the standpoint of higher i'm flags. >flags -- inflation.>> i undersn the second quarter and where b of a's directive is. the second half of the year, i'm a little more nervous. when i look at it with fed
hikes, possible gas price increases and the trade rhetoric becoming actually real trade impact, you could see this kind of slowing take effect, where organic growth of these companies slow pretty dramatically. >> well, look, there's always kind of pulls and pushes when you're in an economy as dynamic as ours. but in our view, the combination of the strong growth, our economy will be the engines will continue to be cap ex and incredibly strong consumer. we have a thriving small business community which we all know that's where jobs really get created and we've got an incredible tech sector that continues to drive growth. there will be things to worry about. that will be one, trade talk will be one. there could be a policy. this is not going to be a straight shot higher. maria: there is a narrative out there that at some point things do slow down. in the end of 2019 there's expectations that we're looking at growth of under 2%.
but you don't see it now. because we'reing looking at 2 -- we're looking at 20% earnings growth for the second quarter. what would be the most important metrics that you're watching to see how slow things get, given the life and length of this recovery that we're talking about, 10 years. >> we just eclipsed the second longest expansion. if we get to next summer, eclipse the longest expansion in the history of the u.s. which is the '90s. what we're more worried about -- we feel good about the u.s. we have more deregulation coming, the fiscal stimulus is helping. again, strong consumer, strong cap ex. we're more worried, if this comes to an end if this long bull market comes to an end, we would say right now we would think it would be more due to what's happening in europe and elsewhere. europe, can europe withstand the tightening of financial -- the
financial tightening going forward. they don't have the same fiscal levers, they're not willing to pull the same fiscal levers that we have. we think the catalyst could be more europe than the u.s. maria: and maybe emerging markets too. they've taken a sharp move down. good chart in the journal about copper. what is copper telling us about the huge selloff that we're seeing. copper is typically an indicator of global growth. it's been plunging. >> there's some disconnects where you say why wouldn't copper be strong, given what we're seeing especially with growth in the u.s. maria: it's probably the trade issues, right? >> it's probably most reflective of that. if the economy continues on, copper will be more reflective of that. >> what about the flattening yield curve, that's what everyone is talking about. how do you address that? >> it's really interesting. if you look at the big anchor right now on long rates in the u.s. are global rates. you look at the 10 year treasury
versus the boone versus the japanese 10 year bond, is an anchor. it's hard for it to get going. the u.s. and the u.s. treasury continues to be the place people run to if there's any uncertainty. so part of the -- part of that i think is distorting the flattening of yield curve somewhat. we're keeping an eye on it. we're not anticipating inversion of the yield curve. if it gets inverted, that's a different ballgame. right now we're comfortable. we also think if inflation begins to tick up, as the fed continues to unwind -- don't forget, they have said they're buying over the years probably reduced the long-term rate by almost 100 basis points. so we think there are factors that could allow the long rate to go up and maybe get a steeper yield curve. it's something to keep an eye on. maria: we'll be talking about that tom when the -- tomorrow when the banks report. we have jpm, citi and wells fargo. any thoughts on this sector.
the stocks have not done well going into the earnings period. >> i can only speak generically. that's one of the sectors we continue to like, along with technology. we would still avoid the bond proxies. we think the rates will go up in a controlled manner. the bond proxies will continue to stay under pressure much than so much for weighing in. coming you, more trouble for sears, the once iconic retailer now announcing more layoff as it struggles to stay afloat. the story next. a lesson in bravery, an air force veteran stepping up to show one little boy how to overcome his fear of jumping off the diving board, the inspiring story next up. stay with us. ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then.
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maria: good thursday morning many welcome back. thanks for joining us. i'm maria bartiromo. it is thursday, july 12th. your top stories right now, 7:34 on the east coast. fireworks in brussels this morning. president trump reaffirming the u.s.'s commitment to nato after tense talks with his allies. he says he won big concessions on defense spending. >> for years presidents have been coming to these meetings and talked about the expense, the tremendous expense for the united states and tremendous progress has been made. everyone's agreed to substantially up their commitment. maria: but french president emmanuel macron says not so
fast. he's scheduled to meet with theresa may in the u.k. later today. markets on the rebound on signs of the u.s. and china are open to discussing trade differences futures indicate a rally at the start of trading of almost 200 points on the dow. the s&p 500 is up as well as the nasdaq. yesterday complete opposite, dow industrials tumbled over 200 points at the close, almost 1%. the s&p 500 was down 3/4 of a percent and the nasdaq gave up a half of a percent yesterday. in europe this morning markets are higher. the fq100, the cac and the dax index all showing a gain of better than 1/2 of a percent. in asia overnight markets were higher across the board, china was the best performer, shanghai composite up better than 2%. taking a dig at nancy, a top democrat says it's time for nancy to go as house minority leaders.
we'll have the details. what one former employee of tesla is telling the securities and exchange comission about the electronic car maker coming up. crowationy layings, croatia is heading to the world cup final. a life lesson, this heart-warming video of a 95-year-old veteran showing a young boy how to be brave. we will tell you about it coming up. first, the top story this half hour, president trump is discussing what he says was a fantastic two days in brus bruss ahead of his departure to london to meet with theresa may. blake berman is in london awaiting the president's arrival there. good morning. >> reporter: these international summits are normally highly scripted. when it came to what we saw at nato in brussels earlier this mornmorning -- morning, they mit as well have thrown out the schedule. the current target is for by 2024 for nato member nations to spend 2% of their gdp on defense
spending by then. president trump wants to see that number doubled all the way up to 4%. in a press conference afterwards, the president tried to play down any sort of belief or any sort of pe perceived tensions that the u.s. could potentially leave may teach her. here was the president a few minutes ago at a press conference. >> our commitment to nato is very strong. >> reporter: i'm we had a little bit of issues with the sound bite. the saying that the commit -- the president saying the commitment to nato is strong and there was a collegial spirit amongst the nations.
president macron said what he said is not so. there's an emergency meeting, a press conference by the president, differing tale as to what happened inside the closed door meetings. the president is scheduled to come to the u.k. he's running about an hour or so late. i guess you can rip up the schedule and throw it right out the window. maria: for sure. blake, thank you so much. we'll be watching the developments as he touches down in london later today. blake berman on the ground in tuck. here now to react is former mississippi governor, hailey barber. governor barber, it's good to see you this morning. thanks very much for being here. >> thank you. maria: your reaction to the nato summit, is the president right about pressuring america's allies to do more, whether defense spending or trade? >> we know nato itself has asked every country and the countries committed to spend at least 2% of gdp on their defense and they don't. some of them do. not every one of them does.
the united states spends quite a bit more than that and president trump is asking nato not only to meet their commitment that they made themselves of 2%, but to raise that. obviously i wasn't at the meeting. but if they do that, we will be a stronger, free world and i think a lot of these countries realize that. maria: what do you want to see in terms of trade, though? because one of the issues here is the fact that we've got tariffs on aluminum and steel on our allies and there's a debate on whether or not that's appropriate. >> well, first of all, i come out of the reagan administration, worked in the reagan white house and i'm a free trader. i believe in open markets. but i also recognize that if you have free trade, it has to be not only fair trade, but when you make trade agreements with other countries, you've got to make sure they abide buy them. the chinese don't. and so president trump is very right to recognize, to talk about and to try to figure out
ways to put pressure on the chinese to abide by the agreements that they have made. i do worry about other countries being caught in the middle of this when the real, in my opinion the real target ought to be china, to try to get china to be compliant with the agreements that they make. i'm from an a agricultural state, agricultural commodities like soybeans and corn and cotton, the prices have been depressed recently, have fallen, because of concern that the markets in china, which is a huge, huge buyer, particularly of american soybeans, that we're going to lose market. but i think it's really a little bit early to know exactly where we're going to end up. how much of this is negotiating tactics and how much of it is going to actually go into place. but i can understand the uncertainty. maria: for sure. let me ask you this, because all
of this is going to be issues for the november midterm elections. the democrats are looking somewhat in disarray. a top house democrat says it is time for a generational change in the democratic party. governor, do you see nancy pelosi keeping her role? >> i do. but i do think it's unquestionably and publicly discontent about her among her party including people that are leaders in her party. when you see the race in new york, where one of the leaders of the democratic party lost a primary to somebody who just a few weeks ago was totally unknown. it shows that the scism is there. i suspect pelosi will hang on. look, she's been there a long time and she's proved herself mighty durable. maria: what are you expecting from the midterm elections? >> well, the outlook today is certainly a lot better than it was a year ago.
maria: for the republicans. >> six months ago or three months ago. i think the chances of the democrats winning control of the house have been greatly diminished. it's pretty close to a 50/50 thing. i worry that republicans have about 40 retirements and it's a lot easier to win an open seat than it is to be an incumbent. but at the same time, the democratic party has their lurch to the left has been so great, so huge. maria: yeah. >> that it really puts them in very unsolid ground. they have a lot of energy, a lot of these young left wing voters are driving the democratic party's policies today, are very excited. maria: right. >> i think the supreme court nomination frankly helps the republicans in their energy. the president's appointee or his nominee is extremely, extremely good. maria: yeah. >> he's got a great record and i
think will be confirmed. but i think that will be a big issue in this election. and finally, maria, republicans need for the economy to be the dominant issue of this campaign. maria: sure. >> because we're going to have economic growth this quarter twice as much as the average under obama as far as gdp growth. obama averaged 2.1% since world war ii we've averaged 3.1% and probably this quarter we're going to be over 4%. maria: 4%, that's what everybody is talking about. i think that's why some democrats, moderate democrats are getting alien ated by their own party because it's lurched so much to the left and then you've got the outcomes that people are pleased with in terms of the president's policies, the outcomes have been quite positive and yet the left including late night host stephen colbert slamming the supreme court nominee, brett kavanaugh and his record, even his name. watch this, governor. >> i don't know much about kavanaugh but i'm skeptical
because the name is brett. that sounds less like a supreme court justice and more like a waiter at ruby tuesday's. hey, everybody, i'm brett, i'll be your supreme court justice tonight. before you sit down, let me clear away these rights for you. maria: i don't even know what to say, governor. i don't think that was funny. are they losing the battle on the messaging around kavanaugh. >> if that's the best, then kavanaugh's in pretty good state. for me, brett means brett favre, one of the greatest quarterbacks of all time. maria: great to see you. thanks so much. we'll be right back.
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and your heart will be changed. - [voiceover] with your gift of just $45, we can rush an emergency survival package to help one desperate elderly person for a month. call right now. - [eckstein] call the number on your screen. maria: welcome back. a former tesla worker is officially blowing the whistle on the company. cheryl casone has the details on that. cheryl: good morning. the former employee, martin trip, has filed a formal tip with the securities and exchange comission.
it alleges that elon musk's car company misled investors and made faulty batteries. he alleging that tesla overstated production of model 3 vehicles, allegedly inflating the numbers by as much as, get this, 44%. musk of course accused trip of attempting to sabotage the company. he filed a lawsuit against trip for allegedly hacking its computers. shares of tesla higher in the premarket, up more than 1 1/4%. sears is tightening its best once again as -- belt once again as the financial struggles continue. the company is laying off 200 more workers, most of the job cuts coming at the headquarters in illinois. the ceo says the move is aimed at returning the company to profitability. last year sears turned a profit was in 2010. since then, they have been closing thousands of stores. shares of sears more than 30% to the downside for the year.
that's the year-to-date chart in front of you. and then finally there is this, a heart-warming moment when a 95-year-old air force veteran shows no fear when teaching a little boy how to be brave. this is world war ii and korean war veteran michael biss. look at this. just sitting by the pool, he noticed a young boy was too afraid to jump in so he said hey, i want to show you how to do that, young man. he has to use a cane. it didn't let him stop him, flex his muscles, showed everybody how it was done. good for him. anyway, very proud. nice little moment there. maria: very nice story. cheryl, thank you. we are awaiting president trump's departure from brussels. he will be en route to the u.k. shortly. we'll show you though those pictures as soon as we see them. coming up before that, fans in croatia are jumping for joy this morning. the team sent england packing for the world cup. now they will france in the finals. we have the stories in sports, next. ♪ phones have made our lives effortless.
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maria: welcome back. big upset at the world cup. jared max is here with yesterday's thrilling match. wow. >> wow. the way yesterday's match began for england it looked like all fish and chips. in the end, warmbier from an empty tap -- warmbeer from an empty tap. england held a lead until the 68th minute when this score for croatia. the match went to extra time. 109th minute and mario monsukich breaks the ties. this sends fans in croatia into a frenzy. final score, 2-1 as croatia goes
to its first world cup final. england won their last world cup in 1966. croatia and france, all european final at the world cup. kickoff, sunday morning 11:00 a.m. eastern on fox. watch sunday morning futures and then switch over to soccer. it all works out. maria: there you go. >> all tar gam -- all star games on tuesday at fox. alex bregman will go against kyle shrober. bryce harper against freddy freeman and max munsi against javier bayez. speaking of all stars, tim tebow played in the minor league all-star game last night for the
eastern league. he got a double in his first at-bat. lebron james going all in on hollywood. now los angeles laker, lebron james secured a deal with his production company, spring hill entertainment. they'll produce a comedy film with paramount pictures according to variety. get this, page six in the post today, shaquille o'neal is supposed to be a guest d.j. this weekend in atlantic city at the ocean resort. they have a problem. shaq is 7'1". he doesn't fit into the d.j. booth. they have construction workers working to lower the floor by two feet so shaq can get in and spin some records. maria: that is funny. how about lebron, what does he want to do? >> he's mr. hollywood. maria: he's going hollywood all the day. >> he's going to hollywood. it opens up lebron to his next career beyond basketball, i believe.
>> no question. i think that's what he went there. i think he wants to be in l.a. and he's a billionaire and he's going to want to do things outside of nba and, i mean, you saw what michael jordan did between what he's done between owning a team and the sneakers and everything else. maria: he wants to do scripted work. >> very exciting. you wonder if maybe there's not so much of a focus on the basketball court once you get into all the movie production. but who knows. the new york post also reported that tebow is the biggest thing to hit binghamton, new york since the speedy sandwich which is amazing if you haven't been to that part of the country yet. >> i get believe you didn't bring up the red sox. they broke the report recor rece best record ever in the first half of baseball. >> the yankees broke the record for the most home runs. >> who is in first place? >> talk to me in october. >> three and-a-half games. maria: the red sox story wasn't
a top story but it's a top story for you. [ laughter ] jared, good stuff. that is great. jared max, catch sports reports on fox news headlines 24/7 or sirius radio, xm115. still ahead, president trump wrapping up his second day in brussels. next up the u.k., we're taking you there for a live report. up next hour, "mornings with maria." stay with us. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. and it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes
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maria: good thursday morning. thanks for joining us. i'm maria bartiromo. thursday, july 12 top stories right now 8:00 a.m. on the east coast, a summit showdownt president trump spoke at summit on way out following tense discussions over defense spending. >> i believe in nato i think nato is very important probably greatest ever done but united states was paying for anywhere from 70 to 90% of it depending the way you cal late that is not fair not united states. maria: this coming as macron is denying president trumpos's claim nato leaders agreed to increase did he have spending back-and-forth as president trump slaitto travel to england backseat this morning attorneys general, futures currently looking higher by
200 points on dow industrials, 15 points higher on s&p, 40 points higher on nasdaq, the second quarter earnings reporting season kicking off this week, we've got banks reporting second quarter tomorrow. yesterday, tough day for stocks dow industrials tumbled better than 200 points on session almost 1% lower s&p down tleer quarters in nasdaq loss of half percent to 42 sleloff journey markets higher across the board gains ft 100 up almost 1% as californianing cac in paris, the dax higher half a percent, in asia overnight, markets closed the higher best is china shanghai composite up 2%, fbi peter strzok breaking silence this morning the expectations ahead of public testimony before congress, coming up, and bidding war between 21st century fox and comcast heating up latest as 21st century fox parent of fox business is given clearance to acquire sky from british government airport in vienna
evacuated after american tour iist attempts to bring home active grenade from with world war ii where she found the device, all those thursday morning to break it down cfrinvestment strategist lindsey bell, james freeman 32 advisers founder former economic he adviser to president obama roll either are wolf. >> i did not bring an active grenade into this morning. maria: thank you. >> -- nothing just because you called me genius should not ruin first hour of our day. maria: president called himself a genius in that press conference catching on, joining the conversation house fooifrnz member new york congressman lee zeldin here house judiciary chairman bob goodlatte the join plea to talk about that hearing of peter strzok his committee,
stuart varney weighs in don't miss a moment first the top, news right now president trump, says the u.s. is commitment to nato, remains strong, surprise conference this morning as leaving, president trump outlined the success of the summit ahead of trip to london to meet with theresa may, blake burman in monday right now, as he awaits the president's arrival good morning to you. reporter: maria, good morning to you once again whoever thought nato summit could get this interesting? huh? . >> in you brussels summit upended with emergency meeting, from the nato member nations president trump said that he wanted to see the xhimentsdz from those nations, double, and have their xhimentsz in time frame there, speed up. the communist after held an impromptu news conference sprawling news conference at that, tried to down play there were tensions among the group tried to down play as well that he might consider pulling the u.s. out of nato. here was the president a while
ago from brussels. >> the united states, commitment to nato is very strong, remains very strong, but primarily because everyone the spirit they have, the amount of money they are willing to spend, the additional money they will be putting up. . reporter: the president said there were greater commitments over last two days france's president macron this morning is disputeing that two sides of the story out of brussels. >> president asked about the latter portion of his trip, specifically, vladimir putin and he doubled down on characterization of the russian leader. >> he has been very nice to me the times i have met him i have been nice to him a competitor, somebody saying is he an an, enemy. >> a friend i don't know him well enough the times that i got to meet him we got along very well.
>> president trump set land in uk we believe in some point over the next hour, or so he was asked about the situation, here as relates to brexit maria remember during the campaign president a proponent of brexit now that president, and headed to uk instead did not decide to weigh in said that is up to people here. >> thank you blake burman in london this morning, joining me house financial services foreign affairs committee member lee zeldin good to see you thanks very much for joining us. >> great to see you. >> first kick off with nato summit the president comments your reaction, at that closing press conference this morning? >> the presidential president making reasonable demands on behalf of united states our kin provides over 70% funding for nato countries are allies, the alliance is would n that itself good, that should be stronger, there is a way to make it stronger for other countries to up commitment we have a lot of people here in
our country, who say that they are individuals weren't paying fair share classes of people weren't paying fair share corporations not paying fair share you have president united states talking about other nations paying their fair share, because some folks here domestically or with domestic politics are rooting against this president with ask they are undercutting him with this ask if you get down to it on merits a reasonable one, one that should be met with agreement by these other allies of our country and upping commitment. >> you are right, you know some people on the left are calling these demands for nato on military spending, destructive calling it i grateful full statement of former secretary of state kerry issued this it was disgrace destructive flies in the face of the actual interests of the united states of america. moreover he the president someplace a woeful ignorance
of work predecessors administration did, to increase european defense spending, congressman your reaction to the former secretary of state attack between him and john brennan a collective negative response to the president. >> i think john kerry has relinquished ability to be able to use term willful ignorance after debrising to iran nuclear deal debrising to iran nuclear detail saying not on trust but verification he didn't even read verification, that is just one example of kerry's term as secretary of state, now post leaving that position secretary of state with president wants to oppose john brennan others, leaders of the democratic party, of this resistance, that they want to stir the's in country oppose this president anything and everything say you can't work with the president because if you work with him
you legitimize the presidency they are doing the most destructive way because not trying to unify they are do everything in power every day to try to find a way to divide us, what would be better for john kerry to do, would actually be analyzing the president's ask on merits, and then on merits, because it is a reasonable demand to be supporting what president does but they can't do that, because, they -- they -- they have their own political biases over coming any goal of objective the rest have. >> yesterday president brought up gas pipeline issue alsodrawn criticism, he really took germany on, it is gas pipeline deal with russia here is what he said about this this morning. >> germany is coming along, and we still have to figure out what is going on with the pipeline because the pipeline is coming in from russia, so
we are going to have to figure that out i brought it up nobody i brought up but me, and we all are talking about it now. and actually i think the world is talking about it now, maybe more than anything else. maria: it was sort of an obviousness conflict did he spark a much-needed conversation? >> that is all he does that all of the time when he shows up, at summits, listen the president of the united states can spend time in washington, d.c., or here in our country deal with important domestic issues but there are a lot of important challenges on the world stage he is not going to get on air force one and spend days overseas and waste tim by everyone just you know the hanging together, and -- glasses drinking -- >> that is the whole purpose of making this trip to get positive results for united states, for the world. maria: of course,. >> so he puts these issues on the table sparks a debate that is a good thing have the conversation. >> i saw some of your tweets earlier congressman about lisa
page, she is basically blowing off a congressional subpoena not showing up today, but or yesterday, but peter strzok will be testifying, in a public hearing today, your thoughts and expectations for that? and reaction to lisa page the fbi agent. >> well the good news for peter strzok about showing up today is that it is going to help he and lisa page have stories straight. so that they don't have to -- guess what was said behind closed doors the downside peter strzok has a whole lot he needs to answer for he is going o to be getting asked questions peter strzok in his own words as deputy head of counter intelligence how and why hillary rodham clinton probe ended white house investigation special counsel probe if one poster chimiscondut partisan bias riling the day i am looking forward to someone
can go that question about ifbi report suggested peter was prioring the russia investigation, over-the-hill hill e-mail he probe there are a lot of questions that need to get asked i am looking forward to that, but you know as far as lisa page goes, she needs to get her butt down to congress she -- it is a great privilege to get to work for doj fbi, you i mean a historic per legendary asks rank and file filled with amazing exceptional americans take oath seriously love our country do exceptional job lisa page employee of the fbi doesn't automatically become fourth branch of government to play by her own set of laws rules regulations the point of tweet you saw if not coming on her own requires congressional subpoena that is fine if she gets a congressional subpoena not willing to come drag her by force she does not have the right to disrespect this process disrespect the congress more disrespect congress dissing republicaning
american public who want answers. >> her lawyer says she apples hasn't gotten documents from fbi you know devin nunes is waiting on documents from fbi is it fbi slow walking this? >> that is a whole other issue that congress has a lot of asks out there, still outstanding when the department of justice says they can't provide information, because a particular document will risk national security then we see the document there is no risk to national security actually what the problem was that it would cause embarrassment for an individual. >> what are you doing about all this you know, what -- what is going to happen, in terms of accountability, here we know that behind closed doors peter strzok was interviewed, a lot of questions he decided not to answer. >> well the good thing as far as the transparency part transparency accountability are needed transparency front thanks to good work that is being done by the house judiciary committee oversight government house intelligence chairman goodlatte gowdy nunes
great committees senate side too not just documents but people before committees answering questions we learned enough i introduced a house resolution calling for second special counsel 12 pages that not a single bullet has a been anyone in this country poked a hole into, and it details misconduct highest levels with regards to fisa, hillary clinton probe how trump-russia probe began result of transparency working on accountability front, if congress can't prosecute what is really -- what is necessary either justice department itself is going to hold these individuals accountable by accountable i am not talking about firing someone, or losing a pension, there needs to be there needs to be accountability as relates to criminal justice violations crimes that were committed. >> congressman good to see you we will be watching the developments later today. >> thank you, maria. maria: lee zeldin joining us
tune for snapchat teaming up with pandora after this break back in a moment. ♪ ♪ and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day.
no issue getting away with touching that is according to federal appeals court that ruled tsa agents screeners cannot be sued for false arrests abuse or -- ruled agents are not law enforcement officials not subject to the same accountability. so, yeah, there is going to be interesting comments about that, pandora users can share music on snapchat. anybody, dealing share able to listen to a long even if they don't use pandora no need to connect snapchat with pandora app for the moment this is only available to iphone users pandora says android users have not been threatened they will have the option soon. >> snap shares down, as you can see, about 8% year-to-date pandora up 62% for the year. and then there is this. an american tourist shutting down part of the airport after
trying to take unbelowed world war ii artillery shell through customs there it is 4-year-old says she found shell on hike wanted to bring home as souvenir. >> airport closed 15 minutes because i don't know they lad to call bomb squad they did police say passengers never in danger that is going to cost fined her $5,000, oops, she cleaned in it hotel room didn't want to get her clothes dirty. -- >> did they take it from her. >> year no longer in her possession. >> thanks. >> you bet coming up a bidding war between 21st century fox and comcast heating up over sky, sky broadcasting we break down developments from sun valley taking you there live delta hit by higher expenses company looking to reduce expenses dealteda airlines stock up 1 1/2% on guidance on
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fox comcast battling out for british broadcaster sky will not oppose fox's bid the latest right from you from as you know valley idaho sun valley conference is going on. >> good morning to you. >> good morning, maria. well you said it this is really the last regulatory hurdle that 21st century fox had to clear, in order to get the 61% of sky they don't
already know, but there has been so much back-and-forth in this story maria it is clearly a bidding war it is on. because i want to health ighlig regulatory approved comcast bid as far as uk regulators go 21st century fox comcast level playing field from point of view of uk government comcast upped its bid to 34 billion dollars for sky, and that is a higher number than twusht, 32 1/2 billion you have been -- 21st century fox, this is what the ping-pong match between comcast roberts 21st century fox's rupert murdoch two companies in the past 18 months two bids eachback, back-and-forth very latest such a big target maybe in u.s. what is deal about sky who cares there are 23 million
viewers in uk, it is britain's largest pay-tv channel station enterprise has rights to english premier league just has wide distribution they have content and distribution, something that both fox particularly comcast wants, to be able to have this more international reach than they have at present. this also brings up the larger issue here, one of the biggest questions maria who is going to get fox entertainment disney or comcast and sky is very much a piece of this puzzle. >> i just wonder if this back-and-forth with comcast do you think comcast is trying to just bust up the deal between fox and disney or make it real expensive for disney or do they actually just want the jewel of sky broadcasting. >> i think all of what you just said possible, from my sources all above, some sources here are saying that for comcast they want to walk away with something, let's
just say for the moment disney's bid for fox entertainment assets is higher it is about 70, 72 billion dollars, higher than comcast all cash offer for fox entertainment as i said 65 billion dollars, one of my sources said comcast doesn't want to walk away with nothing. they don't want to lose fox entertainment, to a disney, they want to get something, and sky is really their last chance to increase their international footprint but all those factors that you mentioned are in play, fascinating honestly for me about being here brian roberts is here rupert murdoch is here -- so perhaps some things can be worked out, behind some of the scenes here we will keep you posted. >> thank you so much we are waiting on the cpi number at 8:30 that is the consumer price index we have had a debate on whether or not we are going to see a slowdown in the next couple years. >> i mean you know we have been having interesting
conversation on you know real strong earnings, you know lindsey talked about stock buybacks m&a on the other side you have fed rate fed hikes, certainly concerns on deficit and trade interesting push/pull second half of year who wins. >> talking 4% growth second quarter. >> let's say at least awkward for people working in the obama administration, who said slow growth is good as it gets. and their explanation of broncos growth now well a sugar high this is -- from the tax cuts and spending not going to last certainly a lot of people official washington kind of expect a slower economy forward i think what you are seeing is a new incentive that longer term difference encouraging investment in united states i think tax cuts were a game-changer i don't think a temporary bubble i think what you are seeing is what we should expect in the future,
longer faster growth. maria: trade issues have been one issue that has been making some people feel like that could upset the growth that we're seeing, china doing an interesting pushback aren't they in terms of fighting back, the tariffs. >> right exactly. >> this morning, people bank of china devalued currency 7/10 of a percent, most in 18 months speculation has been around this is a way they could come back tariffs from u.s. but combat tariffs. >> many things north korea, stop buying u.s. bonds withhold products at the border, american products before they come in so -- >> they want american consumer to buy are their stuff. >> house judiciary chairman bob goodlatte will talk about fbi agent peter strzok public testimony on hill. >> broad kam gearing up to acquire 19-billion-dollar deal could take the chip making
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technology thanks for joining us. i'm maria bartiromo. thursday, july 12 top stories 8:30 a.m. on the east coast, breaking news, consumer price index hitting the away up 1/10 of a percent the below expectations year-over-year, 2.9% growth economists looking for 2/10 of a percent cpi much lower than expected, that
tells you we are not seeing inflation, on the consumer level weekly jobless claims coming in at 214,000, versus estimate 225,000 also better than expected futures where they were before number up 185 dow industrials up 14 s&p up 40 points on nasdaq, cpi out no reaction from markets, european markets higher all morning they continue to be, to look ft 100 cac quarante. dax index, all up this morning, as you see. >> asia overnight markets higher as well best was china shanghai composite up better than 2%, president trump is head to lobbed this hour after a tense two days of meetings at nato summit in brussels earlier this morning, at news conference, wrapping up the summit the president reaffirmed u.s. commitment to nato said he won big concessions on defense spending. >> every won has agreed to substantially up their commitment, they are going to up it at levels that they've
never thought of before prior to last year my first meeting was going down, the amount of money being spent by countries was going down, down very substantially now going up very substantially, and commitments were made. maria: french president macron says hold on not so fast mr. president macron denying the president's claim the nato allies have agreed to increase defense spending beyond previous targets previous target was 2% of gdp. >> fbi agent peter strzok to capitol hill we break down expectations ahead of public testimony, before congress, this morning. shares of delta airlines flying high second quarter profit topped wall street expectations as did the company guidance for the rest of the year, the numbers, coming up plus stock is up 1 3/4%, beating the heat summer hottest toys will keep kids cool we have them, the best toys for the summer stay with us for that, first, america will get answers today
from peter strzok, controversial fbi agent will testify publicly, in front of the house judiciary committee answering questions about anti-trump texting exchanged with mistress lisa page. >> page refused to comply with subpoena she was asked to testify in front of the same committee yesterday here is what the president tweeted overnight, slamming his attorney general in the process, saying this, as i head out to a very important nato meeting i see that fbi he lover agent lisa page is dodging a subpoena, and is refusing to show up and of it what can she possibly say about her statements andlize so much corruption on the other side where is the attorney general the chairman of the house judiciary committee congressman bob goodlatte, mr. chairman good to see you thanks so much for joining us. >> good morning, maria. good to be with you. >> what do you think about the president's tweet where is the attorney general? >> well the good news is that late last night through her attorney lisa page did agree
to appear for a private interview on friday. voluntarily we are still working out details, so i can't -- get into that but that is an important and positive development because we have been trying for seven months to talk to lisa page. and it was very disturbing whether she trofd appear for her subpoenaed deposition yesterday however still under that subpoena. and this appearance will go a long way towards allowing the committees to get the information they need from her as part of our investigation, into what happened in 2016 and the disparate treatment bias reflected in texts between her and peter strzok. >> desparate tweement bent over backyards to the to take action against her the investigation into other presidential campaign under
very questionable circumstances. >> what are you looking to get at mr. chairman? her side is saying that your committee is bullying her number one number two we know when peter strzok testified in private behind closed doors his layer told him not to answer so many questions, many people said including yourselves, that they came up with excuses not to answer what if she does same thing lisa page in that private hearing friday. >> first o going to peter strzok because he will be testifying, publicly today, it wasn't his attorney it was fbi's attorney instructed him not to answer a whole host of questions, that we had for peter strzok. we have had since some very serious discussions with the fbi about this they want this to be fully openly discussed, and i think that we are moving in the right direction but we will see today what questions he answers and what questions he does not.
now with regard to the miss page, the same circumstances will hold however, we have many many questions that weranced by peter strzok we expect them to be answered by laos least as well. >> let me ask you causes it is very -- interesting when you go back to the time line, peter strzok in charge of the hillary clinton e-mail investigation, as well as the trump investigation. he takes over solely overseeing the trump-russia collusion investigation, on july 31, 2016 then 8 days later lisa page sends a text saying donald trump will not become president right? and he says no, we will stop it. . what how do you answer that? isn't that right there evidence that his anti-trump bias did in fact lead his behavior as guy running about the investigation. >> that is what i think millions of americans understand that. peter strzok will have the opportunity to publicly
explain his statement and be questioned by great many members of both house judiciary committee and vooifrt government reform committee about that and many other texts that reflect the very disturbing extreme bias on part of both individuals communicating with each other over government equipment as they are as you point out, lead investigators and attorneys in these highly sensitive and important investigations. >> so what -- are you trying to understand what evidence they used to launch an investigation into donald trump? is it possible that they had no evidence whatsoever and they just decided to launch an investigation so that one political party could spy on another? >> well, we are -- we are interested in the disparate treatment of two separate investigations there is in my
opinion shocking differences between how they handled the hillary clinton matter when we will also be asking questions about today and how they started this investigation into so-called trump-russia collusion. maria: so i know that your colleague devin nunes chairman of the intel committee wants information about what took place before the july 31 launch of the trump-russia investigation. why is that important to understand what communication went on before the investigation actually launched? >> well, we -- truly do want to know what the -- the these people at the very same time launching this investigation, are also in the process of trying to wrap up an investigation into hillary clinton that many people have raised many questions about the i am pro priorityy rosenstein made it clear the reason jim comey was fired
from the fbi was because of his mishandling of that matter, in 2016. so these are all very important things, why did they go so far in one direction, to not take action, and then so far in the other direction to take action. that is very serious we do not want to ever see that happen again, and in any campaign particularly not a presidential campaign we have another one coming up 2020. >> anothtext exchange peters pe says there is no way trump gets elected i am afraid we can't take that risk. that is a smoking gun to nefarious behavior we can't take that risk? you could look at that and say well maybe that is why they launched the investigation so that they have something to make his president i will. >> john brennan has been out and about trashing this
president nor a year and a half, he had a -- he had a quote yesterday, about how horrible president trump is about the nato allies. and he tweeted about it as well he says it this is the interests of america security if it in a or leeds push back against reckless behavior of donald trump who is dangerously naïve, and grossly ignorant how world works history inevitably will regard trump as one of the most of a draws differents after rows figures 21st sflurt. >> there are questions about brennan's involvement let me just say what we know public statements that he has made, since leaving office and i must tell you that for a former individual at a high level in the national security united states, to make the
statement and assertions he makes are absolutely reprehensible, i think that this itself something that people need to take into account he is not helping the national interests of the united states with some of the reckless claims that he makes in these statements, the fact of the matter is with regard to the our investigation, there is definitely questions beyond what was going on in fbi and department of justice about involvement of other obama administration employees, in the creation of the circumstances under which this investigation was launched, by the way, now is more than two years old. and still going on, i have not seen any evidence of collusion between the trump campaign and russia. maria: so are you investigating john brennan i know devin nunes is investigating the state department are you investigating john brennan? >> right now, that is in the hands of mr. nunes we are
very, very interested because these matters are very closely connected very interested what he finds. >> connect dots for us on special counsel this investigation as you say going on two years supposed to be about collusion no evidence of collusion, no evidence of obstruction, are you looking have you spoken with robert mueller do you think that investigation comes to end soon are you expecting that? >> i have spoken with robert mueller not recently i have spoken with deputy attorney general mr. rosenstein, i have always supported the decision to appoint mr. mueller as special counsel, and have always been meticulous about keeping judiciary committee unlike other committees in the congress away from investigating the same things mr. mueller is investigating we are not looking at the substance of any potential russia interference in election or collusion with the trump campaign. but there is no question that
this is a -- a major problem, for any president of the united states for something to go lon as long as has without evidence being shown the indictments are support things but do not relate to the underlying purpose of this investigation. with regard to the trump campaign, and those things can be taken over by united states attorneys around countries like matters of mr. he coulden handled by u.s. attorney for southern district of new york, and so i think that it is very important, that if mr. mueller has something he needs to act if he does not he needs to start wrapping this up because it is a cloud over this administration, and it needs to be brought to resolution. >> what about rosenstein we know he was among those who gave the okay, on the fisa warrant questionable, given that the fisa warrant, to spy on an american citizen part of
the trump campaign carter page was used based on a dossier unverified should he be recusing himself from all this. >> i don't have an opinion on that yet. there is no question that mr. rosenstein had some involvement once he became deputy attorney general of the united states however, i also know that he is an important part of our getting access to the documents in the federal bureau of investigation to get us the facts about what was going on in 2016 he was not there then and it is important that this -- this access to the information that he has helped create continue. >> mr. chairman good to see you we will be watching this afternoon thank you. >> thank you. >> bob goodlatte there we'll be right back. year, i am sorry about that. [music playing]
of chinese goods that hurt the market yesterday but this morning, looking at complete boundback up 200126 on s&p, 44 on nasdaq joining us now host of "varney & company" stuart varney to weigh in good morning, stu. >> bounceback buy the dip every other occasion i mean, in february, tariffs the trade fight first mention, since february, the s&p 500 and dow are both up, with all blips down had you bought the dip you would be in the money exactly same yesterday we went down, on the news of the extra tariffs on china trade and now this morning we are bouncing right back up again, we seem to have seen this before if the strategy was buy the dip when you are expecting very strong profits and much stronger economic growth, that was a successful investment strategy those people who bought the dip yesterday are looking pretty good this morning, after all we are up 11% on the dow since those tariffs were first mentioned
in february. buy the dip make money. maria: all right. i know you have more on it looking at markets this morning 10 minutes "varney & company" top of the hour, 9:00 a.m. eastern after "mornings with maria" thank you so much, delta flying high this morning a double beat on second quarter earnings nicole petallides on the floor watching that, good morning to you. >> good morning, maria. this goes with the theme of what traders are expecting speak to are expecting robust earnings and delta has come in beat on top and bottom line stock up 1.8% one thing very interesting what we heard from american airlines yesterday 8% yesterday american airlines was going to face higher fuel costs ceo of delta noting they are able to offset two-thirds of those costs, also saying pertaining to trade too early to speculate adding aircraft cutting less about profitable flights raising dividend broadcom acquiring ca technologies 18.9 billion
inspires call that a head skraefrp weird perplexed want to know why two getting together one for semis one software that is what we have seen ca up 18% coming up, keep kids entertained the summer we have the very hottest toys maria bartiromo and the toys on the plaza next. ♪ ♪ lazy, hazy, crazy days of summer you wish that summer could always ♪ tennis chaenlt court report special presentation for fox business, roger federer out of wimbledon swiss star down to kevin anderson 5 set quarterfinal thriller. >> south african match point in third and stormed back closing out marathon win 13-11 in fifth snapping federer's 34 set winning streak on the grass. elsewhere, raffle nadal came
through barr of attrition against del potro putting win in books 6-4 in fist after almost five hours on court. novak djokovic awaits the final four after he had to have a much. >> coverage from london continues thursday. we've got aging roadways, aging power grids, ...aging everything. we also have the age-old problem of bias in the workplace. really... never heard of it. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. because solving big problems is what business does best. so let's take on the wage gap, the opportunity gap, the achievement gap. whatever the problem, business can help. and i know who can help them do it.
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maria: i'll toss it over to stuart this is a shot of the air force one we're waiting for the president and first lady to depart as they arrive in the uk. stuart up next. stuart: thanks so much we're dying to see the president arrive in britain and good morning maria, good morning everyone. sure looks like a victory lap for president trump as he leaves the nato summit and the market likes it stocks up big time today. i'll start with the president and here is what he had to say. number one, nato countries have agreed to speed up their increases in defense spending. he could withdraw america from nato, but it doesn't need to because they are paying up. next one. putin is a competitor, not an