Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  February 12, 2018 6:00am-9:00am EST

6:00 am
highways, airports and rail system. the plan is part of the fiscal 20 night team budget which is also set to be released today. we are talking budget numbers coming out. democrats on the attack this morning as the white house declined to release of their counter memo on alleged fbi surveillance abuses. the report sent back to the house intel committee for changes after concerns were raised by the justice department. i spoke with devin nunes yesterday about the war of words on "sunday morning futures." >> we want the democratic memo out. we think it's ridiculous on the face of it. they attack myself, chairman gravity, turn perturbations some supersecret russian spy. they talk about how christopher steele is a really good source. do we want this out. dagen: marmite conversation coming up this morning including allegations about the state
6:01 am
department with the details on phase two of his investigation with zeros on the state department. remembering edwin jackson, funeral services held today. the indianapolis colts linebacker whose life was tragically cut short. the latest on that illegal immigrants charged in his death. shocking discovery meanwhile flights canceled at the london city airport after an unexploded world war ii bomb was discovered in the river near the runway. details as they work to dismantle that device. the u.s. figure skater becoming the first american woman to land a triple axel on the olympics. we've got all the highlights from the first weekend at the winter olympics coming up this morning. all the stories coming out. junior talk about a coming day can make doll, risk with ceo managing partner mike murphy and pollster, lee carter. great to see you. >> great to be here.
6:02 am
dagen: where do we begin? i can't wait to see your devin nunes interview again. maria: it was interesting because he took us through what he's doing now and the amazing issues that they're looking at coming out of the state department. hillary clinton state department where information flows to make its way into the dossier which has been used by the democrats to spy on donald trump. dagen: daiwa smog that we didn't know murky and grotesque during the election. trades are we'll. the ceo of oracle with us this morning. along with the city of caesars entertainment, will talk about business today. marsha blackburn is here along with american trucking associations ceo and president chris here. olympic gold medalist apollo ono is with us. thomas another. we kick it off at our top story this hour.
6:03 am
markets attempting to rebound. started off the week in a positive note after stocks saw their worst week in years. a look at futures right now at the height of the morning at the gain of 290-point up one and a quarter%. mike murphy, would you think about this? >> a welcome balance, needed bounds. one thing for viewers at home, i hate to see big outflows from u.s. mutual funds in a volatile time. people selling after a selloff, which is exactly what you don't want to do. you wanted to buy in rebound as i do. dagen: almost $23 billion in seven days, but 100 billion won into global equities. >> you can argue the market is fairly priced here or even fully pricier, but the volatility we've seen come in no way a person not home can benefit from not, you can trade against bad,
6:04 am
so people have a long-term plan and stick with it and don't try to trade into big spikes are sellouts. >> it feels like a year of big spikes. a lot of volatility. >> ignore it. stick to your plan. if the market goes down a thousand points you wouldn't then sell or liquidate part of your portfolio. if you traded, 10% selloff is a great time to add to your portfolio. not take away from it. >> it seems to me when we talk about so many of the americans i talk to nearing retirement, they get so nervous that these drops moving at $12,000 a day and that seems like a ton to them and they get so nervous and really having flashbacks to what happened in the past. hard to reassure those. maria: what are we talking about, not much. 10% as mike said so far. >> the people had forgotten what volatility was like.
6:05 am
the central problem is the markets had been so smooth and every asset class literally going up in lockstep. people get conned. again it's like behavioral finance. people get conned into thinking they are treating geniuses. we saw in the late 90s, early 2000 during the housing bubble that everybody is up on renovator to home speculator. that is part of what's getting washed out of the market hopefully and that's ultimately what makes for healthier markets. >> anyone who has exposure to the market does the market that's when the market of 30 plus% since the election is now the 10% correction we've seen this causing them angst to over expose to the market. those people selling rate here had too much exposure to equity, so now's the time to rebalance. plus 35, and now they are minus 10%. if this is keeping them up at night they should be selling.
6:06 am
maria: policy obviously dick cheney behavior as well. the president unveiled his long-awaited infrastructure plan. $125 trillion includes private money expected to call for federal spending of $200 billion over 10 years intended to spark state, local and private investments resulting in a new spending bill. the white house as president trump will be traveling to promote the initiative after it unveiled. perception from the people you're speaking lands. >> it's really important to president out there is sharing his message. the photo shows an opposite message and when he talks to the american people about what it's going to do for them, it only helps with numbers and helps people feel more confident. infrastructure is something he promised he was going to do and something the american people want and democrats agree is important and to do. a lot of criticism on the budget and is this the right thing to
6:07 am
do? he's got a story to tell to make people feel comfortable and confident in a loss to stick through tough times. maria: last week he was talking about the budget and there wasn't a lot of happy faces is harder than budget. the infrastructure plan is part of the 2019 budget set to be released today. dagen: his budget for next year is largely moot because you have congress already agreed to your budget plan, which includes $300 million in additional spending. 20 billion of that by the way it is an infrastructure. he's got a $200 billion infrastructure plan. who is paying for that? right now the market concerned is the policymakers overreact to rising inflation, particularly in wages? the 10 year yield moving up a two-point 88% this morning. that is a sign the economy is still okay. we have a president cutting taxes who is raising spending
6:08 am
and they've got $1 trillion annual budget deficit. that is not a good situation, not for the markets. maria: markets react to this. the white house says that this 19 budget includes increased spending for immigration, border security, veterans medical care to fight the opioid epidemic. they propose cutting deficits by $3 trillion over the next decade through an aggressive set of spending programs. >> for entitlement reform? >> also the u.s. economy will grow 3% annually over the coming decade. they are making a big assumption here that growth is actually going to cut into all of this spending in put a limit to the spending, but when i would look at trillion dollars deficit over the coming years. >> of march part because of the
6:09 am
deficit the republicans put through a $300 billion in additional spending. what will help, the tax reform will help because we do need a faster growing economy. we do need more revenue coming into u.s. government. we didn't have that in the most recent year. revenue was up 1%. that will help, but you do need to cut spending and you're not seeing that. in the budget the republicans passed $6 billion in additional spending for the opioid crisis on top of the billions they handed out. again, where's the money coming from that ultimately people say we need to raise spending on the military. we did that, but our national defense more than anything ended up paying money out in interest on our debt to china. we are literally a few years from now funneling money just on interest to china to our enemy. maria: as rates go up, that is the reality, mike murphy.
6:10 am
i know you will set the backdrop is strong because it is. be not the backdrop is strong in the backdrop of the infrastructure bill is different than what we've seen before because where the money is coming from is 80% on the private and local government versus the federal government because they reversed it from where it used to be 80% of the federal, 20% local and now it's 80% local. if you want to fix a road or bridge in your municipality or your area, you have to put up a bulk of the funding and the federal government will help you. it looks to me from a business standpoint it's not a handout for you or handout for you if you can do part of the heavy lifting we are there to help you. maria: 200 billion federal. the rest is private or state and local. dagen: to all the people who mock the show already, the stimulus package back in 2009, you ought to be mocking us.
6:11 am
we need infrastructure spending in this country. make the people who use our roads and bridges pay for it. our national gas tax has not gone up in a quarter of a century and that is just absurd. i'll leave it at that. maria: well, the ceo of the american trucking association coming up and he'll have ideas in terms of paying for this as well. what he has to say gas tax increase. dagen: the truck administration is not going to propose that. the $200 billion infrastructures ending comes from spending cuts. where that will happen, who knows. everybody wants a piece of the pie. everybody wants a piece of the spending. either way, we are borrowing this money to handed out. it is interesting to see what ends up being put to work. maria: and we know they will not cut back on entitlements right now. that's where the growth of the money is. dagen: i'm just waiting for 11
6:12 am
years when the hospital funded medicare goes belly up in its immediate cuts 88 cents on the dollar. that's what's on the horizon for this country. maria: as i mentioned, truckers association ceo coming up. london city airport, hundreds of flights canceled after crews found a world war ii era bomb in the river. how long it could take to remove this dangerous device. we'll tell you all about it. the first american man to triple axel at the olympics are about the details on the incredible feat and the highlights on the olympic games. we will be back here. ♪ oh, manatees. aka "the sea cow"" oh! there's one.
6:13 am
manatees in novelty ts? surprising. what's "come at me bro?" it's something you say to a friend. what's not surprising? how much money matt saved by switching to geico. fifteen minutes could save you fifteen percent or more. when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. big thinking in the finger lakes is pushing the new new york forward.
6:14 am
we're the number one dairy and apple producers in the eastern united states supported by innovative packaging that extends the shelf life of foods and infrastructure upgrades that help us share our produce with the world. all across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov a trip back to the dthe doctor's office, mean just for a shot. but why go back there, when you can stay home with neulasta onpro? strong chemo can put you at risk of serious infection. neulasta helps reduce infection risk by boosting your white blood cell count, which strengthens your immune system. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim).
6:15 am
ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache. so why go back there? if you'd rather be home, ask your doctor about neulasta onpro. maria: a big rally, markets looking to build. a gain of almost 300-point mark in the dow jones industrial average and 75 points higher in the nasdaq. other headlines come a world war ii era bomb shut down london city airport. cheryl casone with the details. >> good morning, maria. amazing what you can find. construction workers discovered the bomb in the nearby stands
6:16 am
forever. they're working at this hour to safely remove the very old explosive. everything within 700 feet of the scene has been evacuated. no one is allowed in. 16,000 travelers so far have been affected. over in russia, hundreds of rescuers are battling the elements come into the wreckage of a plane crash over the weekend that killed 71 people. new surveillance video shows the moment flight 703 plunged into a field shortly after it took off from moscow's airport. investigators look into whether human error was a factor in the crash. comcast thinking about reviving its pursuit of 21st century fox. the parent company, the fox business network. the bid for the company's entertainment assets was turned down despite being 15% higher than the eventual buyer, of course that was disney. according to "the wall street journal," fox news concern was that high up in the company with
6:17 am
significant antitrust risk because the acquisition of fox to be a vertical deal that would have more cable tv channels to a similar company. comcast is up 2% over the 21st century fox about 19%. .com and qualcomm have a valentine's day date. the two plan to meet on wednesday for the $121 billion acquisition offer, the first time the semi conductor company will discuss the deal. broad, offers still undervalued, but meanwhile "the wall street journal" reported broad, had secured $100 billion in debt finance team for a bid strength and in its hand in what has become quite a takeover battle. broad, 14% over the past year. qualcomm is up 20%, maria. a lot of action right now. trade to the semiconductor space has been busy although they took a real hit.
6:18 am
>> they took with it with the overall market that we will hear from a big conference over the next 48 hours. a lot of the chip stocks are rallying because of crypto carinthia bitcoin, very high-powered chips in order to do that in youth sports is really helping us. chips are a place you can still see big gains in this market. maria: we should also point out that the quiet. i'm a blackout. for companies are quiet now and because of that the companies will buyback stocks again. when they started being back in the market will push stocks. >> yes, for sure. dagen: we hope. i'm cuckoo to live on he was talking about the stock market, we hope. maria: they are. we look at a 300-point rally. take a break. a tale of two memos, why house intelligence committee chairman
6:19 am
devin nunes tolman his bombing -- bombshell news was just the beginning. they plan to turn the international space station into a commercially run venture. how the commercial controversial idea would work. more on that next. ♪ so from the two trucks over here...
6:20 am
i want you to pick a new truck for your mom or dad, knowing that they could possibly pass it down to you one day. oh. cool. but before you decide, you should know that chevy silverados are the most dependable, longest lasting full-size pickups on the road. which means that ford f-150s are not. (giggles) which truck would you pick? the chevy. there you go. boom. that was obvious. plus it looks cooler. no doubt about it. now they know what to get me. they appear out of nowhere. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions
6:21 am
during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. my visitors should be the ones retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations.
6:22 am
every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. maria: welcome back. the latest in washington. wright has since declined the counter memo on fbi security abuses. i spoke with congressman and
6:23 am
house intelligence committee chairman devin nunes yesterday to get his take on the explosive rise in the amount he commissioned the research. >> is clear from the development from the very beginning that they packed it full of sources and methods. maria: how far does this go? with barack obama and hillary clinton pulling strings? >> we know the attorney general was briefed in the spring of 2016, so we know she was made aware. now the people from state department said john carey, secretary kerry was briefed on the dossier. so all of this without air, everybody but the charm campaign and republican and the american people. everybody outside of those three groups know about the dossier and were actively trying to open investigations, start investigations to use this to go after the other campaign.
6:24 am
maria: there was no ejection of the point of your memo, which was bottom line the fbi used government resources to spy on a political enemy. >> right, we want the democratic memo well. we think it's ridiculous on the face of it in political how they attack myself, talk chairman dowdy. maria: what are you seeking now, congressman? >> one of the things this past week that we sent a letter to the fisa court asking for the transcript of the appearances before the fisa court as they approved the war and, we want to know what transpired. maria: i want to ask you about the green grass on memo because that from lindsey graham and chuck grassley confirms everything basically in your memo, but it also recommends charges. tell us about those charges that
6:25 am
this memo was recommending, charges against the burst by christopher steel. >> it was actually a letter from a criminal to justice. it was written before or memo was put together. so essentially what it does is call operates what we have said and goes further than not in points out how christopher steel lied to the fbi. so it is a clear-cut case. christopher steel lied to the fbi and i can't for the life of me know that when you have the cases said this guy lied to the fbi in the senate said this guy lied to the fbi, what is the prosecution of christopher steel? a slamdunk case and they have the document and this makes people wonder about having confidence the doj and fbi are playing a straight out.
6:26 am
they would have immediately went after once they were notified by congress, christopher steel lied to you. they would trust him for lying to the fbi. the big felony in all of this but nobody talks about from the very beginning was the leak of highly classified information when they leak the phone call of the russian ambassador talking to general mike flynn right before the non-duration. that was a felony. nothing has ever been done about it. maria: who will be see get prosecuted as a result of this massive abuse of power, congressman? >> at doj and fbi are not going to prosecute what seemed to be very clear cases of christopher's realigned to them or if they are not going to investigate clear felonies like the leak of highly sensitive classified information in terms of phone calls intercepted, if they are not going to go after those, at some point the buck will have to stop at someone and we will continue our investigation.
6:27 am
ultimately will be the american people. maria: you are investigating the state department. >> names that i think would ring a bell like cody shearer and said sidney blumenthal who are longtime hillary clinton advocates. this was before my time in washington when they were up to a lot of shenanigans that most of these people and other characters and they are bad characters in terms of the types of things they are willing to use against political adversaries. somehow, what it appears like if you believe the "washington post" editorial or op-ed piece cast of characters are putting information similar to the original steel dossier, what appears to be in a different still dossier, which was attacking trump in fitting that into the fbi. maria: incredible. hillary clinton goes to run for president and she's got the full weight and strength and power of the u.s. government behind her.
6:28 am
where fbi and other agencies are completely politicize to make sure she wins and she still lost. this is an extraordinary story. >> not only that, but i would also add that the pollution is right in front of our eyes. just because you hire a lawyer who hires a firm who hires a former british spy to make contacts with russian, that means that you are colluding with the russians. maria: that is called collusion and corruption, yeah. >> nobody is looking at that. maria: my thanks once again to congressman and chairman devin nunes. article in the journal in the journal in the journal, an offense he released the fisa documents. it's incredible they put all the stuff in the democratic memo, lead, which needs to be it, so they cannot president trump come out.
6:29 am
>> to some people it seems transparent. maria: it seems obvious to me. >> on the other side people say look at this, not totally outrageous siding with the democrats on this. it is so politicized right now. the things they see from so many folks who say i just want to get to the bottom. help me understand what's really at issue here and nobody can get to the facts. >> which is why i think it will combat to write that dems in november. it is so obvious what they did here. >> there is a way i think to get it out for the american people. whatever side, and if something was done incorrectly or illegally, whoever did that should be blamed. >> you mean spying on an american citizen without a proper reason? dagen: getting a warrant to spy on an american citizen using, phony information funded by the
6:30 am
clinton campaign. some of the information in the dossier came from the likes of sidney blumenthal through the state department. we know that based on the reporting of "the wall street journal." it is just incredible. maria: just told us that as well. when we come back, the big rally at the start of trading. a triple digit reading after one of the worst week since stocks in years. mark is a 300 right now. taking a look at whether the selloff is now behind us. we are looking at a year of wild swings, no doubt about it. by the trump administration reportedly considers a plan to privatize the international space station. back in a minute. ♪
6:31 am
.. .. it's inspected by mercedes-benz factory-trained technicians. or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event. now through february 28th. only at your authorized mercedes-benz dealer.
6:32 am
6:33 am
welcome back that monday morning everyone. thank you so much for joining us this morning. it is monday february 12. stocks are surging this morning futures indicating a big rally at the start of trading. now up to 274 points better than 1%. the nasdaq and the s&p 500 also higher. markets are extending their recovery that we saw at the end of the session friday the dow rose better than 300
6:34 am
points on friday. in range of more than 1,000 points. friday alone. the dow and the s&p 500 finished off better than 100 percent. stocks are taking a cure from that performance. on to asia we go where stocks closed mostly higher. in japan it was closed for holiday but the other majors were up nicely. in washington president trumps agenda in focus this morning. the white house said to unveil an infrastructure plan. it's part of the fiscal 2019 budget. they are arising about the levels of government spending. the office of management and budget address the concerns of this weekend.
6:35 am
>> there is a risk that interest rates will spike. what triggered that is not the fact that we were overheating and the economy but we were borrowing too much money. to anticipate the additional debt. the one thing that we keep coming back to as the fundamentally changed the structure of the economy. this is not a fiscal stimulus. is not a sugar high. we will take a closer look at that this morning. we are remembering edwin jackson this morning. the funeral for the colts linebacker. he was killed by an illegal immigrant. that is seeking taking place in atlanta today. the future of the weinstein company is now up in the air. now one report said the buyer is walking away as a result of that lawsuit. history made in pyeongchang. the first american woman to land at triple axle in the olympics. she is good. we have all of the highlights this morning.
6:36 am
reports say that the trumpet administration wants to privatize at the international space station. that is coming up this morning. the steps during this half an hour. bracing for another roller coaster wreak -- week on wall street. after a rebound on friday after what have been a wild week. they are still looking at the worst week in two years. join us right now to talk more about that is the private wealth advisor. dominic, good to see. you think this route much of it is behind. obviously we could get some more accurate, data that could change that view. but if we just focus on the fundamentals of the economy and how fantastic the earnings have been year to date you have to look at this thing as a longer-term picture and it looks pretty positive.
6:37 am
that is very closely watched. inflation has been the topic of conversation. last year we have that fed rage -- ways -- raise interest rates. we to bring this into focus. we do good jobs number in a good earnings number. in all the sudden the tenure popped. just frightened investors. with to realize interest rates don't rise in this very fluid calm manner. highly unlikely they will pop again. but we have to be prepared. it was the fear that interest rates will spike. and again if you're worried about a central bank now
6:38 am
overreacting to inflation than these republicans shouldn't be passing a budget that has got $300 billion in additional spending after they had cut taxes which could certainly at least add something to the deficit. investors are set on the sidelines saying the united states will now be running a trillion dollar deficit. it's a new chair and you never know. we know that they have stopped. there they're easy their way out of it. their raising rates. we did not know how this is can a shakeout. you have an unprecedented and monetary stimulus from not just the federal reserve but the central banks around the
6:39 am
globe after the financial crisis. they do things that we've never seen before. and we have no idea how that's going to play out in the market. this is an unprecedented time of rates being historically low. that's right they come in. the 10% drop as shocking. we do not had one single month that was negative month over month. they came into this picture and said maybe it's time to take a little money off the table. it was reasonable. we took a little money off the table. the bond market is suggesting that expectations for growth are still okay.
6:40 am
if they were worried that the economy was going to fall out you would not see a yield that strong. but nevertheless i think that people have taken undue risks in many quarters of this market and it was individuals at home in terms of the lack of wage growth and they suffered during this policy. they never felt that. it was people embedding on a bit coin and real estate. after a decade of the american can family not getting a pay raise it with a slight increase in wages. it shocked the markets. it was good news. technology stocks took a big hit during the sell off because those are the leaderships on the up side. it's down 13%. look of this premarket performance that we are looking at. all of these companies up across the board this morning.
6:41 am
not tech. if we look at last year it was up huge. i like mid- caps i think companies are flush with caps especially because of the tax cut. there can be looking to buy that competition. i really like that. there the cash to do it. we will hear from them on wednesday. it will be small to mid cap. just really quick i want two-point out something. if people were really worried about inflation. protective securities would have done while last week and they didn't do well. and then the spread between the corporate and treasuries is very stable as well.
6:42 am
investors don't seem to be betting that the economy is falling out of bed. we haven't seen anywhere near the target on inflation. it can come back. i can come back all of a sudden. look at things that have not done well. growth stocks were up an average of 30%. it's hard to know what is value and growth. in point this out to. retirees should not be fully invested in the stock market. your portfolio should be built that you can withstand these kind of wild swings and you
6:43 am
don't worry about it make sure international is a good portion of your portfolio. the names that you are recommending to you on them. we allocate the sectors. remembering edwin and jackson. the colts linebacker was killed in the a tragic crash last week. the very latest on the fate of the illegal immigrant charged in his death. why the trump administration is considering a plan to privatize the international space station. [music] stimate.
6:44 am
liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance. two,that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches
6:45 am
and a full education curriculum -- just to help you improve your skills. boom! that's lesson one. education to take your trading to the next level. only with td ameritrade.
6:46 am
sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪
6:47 am
welcome back it's good to be a big day at the office. take a look these markets looking to build on friday's rebound. the nasdaq and the s&p 500 are also higher. send us a tweet or text and let us know how this market closes given the wild performance that we've seen over the last couple of weeks. funeral services are being held this morning for indianapolis colts linebacker who was killed suddenly last sunday. cheryl casone with the details now. cheryl casone with the details now. 26-year-old edwin jackson will be laid to rest today. they will be held in the hometown of atlanta georgia. jackson and his driver were killed in indiana after being hit by an illegal immigrant who was drunk. there he as he had been deported twice before returning to get to the united states. his now facing is now facing
6:48 am
multiple felony charges. he ran away from the scene of the crash and gave police a fake name when they caught up with him. funeral services for the driver are going to be held in indianapolis this friday. harvey weinstein back in the news a proposed deal to sell the weinstein company following -- falling apart at the last minute. sources tell the wall street journal that the group was supposed to buy the studio for $500 million but that fell yesterday. i brought too much uncertainty to the deal. it was a long-standing sexual harassment and other civil rights violations of the company. he and believes at the fair investigation art many claims are without merit. they are soaring more than 25% this morning after general
6:49 am
dynamics said it's by the company for about $6.8 billion. is a 32% premium to the stock's closing price on friday. up 15% over the past year. it's just breaking in the last hour --dash my cap hour. according to the washington post the trump in menstruation plans to stop funding they administration but they want to go private. no word if they will go private. i think you have a couple of takers there. even with what's going on in business. as a bidding war. it will take a break. she skates into the history
6:50 am
books becoming the first american to nail the triple axle at the olympics. all the other highlights in the winter games winter games right after this. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com
6:51 am
on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. does your bed do that? right now, save 50% on the ultimate limited edition bed. ends soon. visit sleepnumber.com fora store near you. we use so why do we pay touters thave a phone connected. when we're already paying for internet? shouldn't it all just be one thing? that's why xfinity mobile comes with your internet. you can get 5 lines of talk and text included at no extra cost. so all you pay for is data. choose by the gig or unlimited. and now, get a $200 prepaid card when you buy an iphone. it's a new kind of network designed to save you money. call, visit, or go to xfnitymobile.com.
6:52 am
6:53 am
welcome back. are you watching the olympic games. an american just nailed it. jared, good morning. a star-spangled sunny --dash mecca sunday. mirai nagasu became the first american ever to land the triple axle. the axle the only forward facing and jump. just 21 seconds into her routine. just the third skater ever to
6:54 am
accomplish this jump at the olympics she helped team usa when the bronze medal. south lake tahoe jamie anderson defended her gold medal for only those games in slope style snowboarding. intense winds and blustery conditions helped her hold up. today for american advance to the final 12 in that women's half pike. norway has eight with germany has the most with a pair of gold medals. nbc has fired olympics analysts in apologize to the pyeongchang committee for a, he made on air. tried to note the significance
6:55 am
of his visit he said every korean will tell you that japan is a cultural technology and economic example. that has been so important to their own transformation that japan ruled korea with that iron fist. iron fist. he's supposed to be offering political analysts. seem to forget the korean women who were forced into sexual slavery by the japanese army might during world war ii. did you forget that. what are you talking about. the relationship between south korea and japan as a long history and there is a lot of
6:56 am
animosity by koreans towards the japanese for what they did to the women there. and he was trying to play to the fact that he was in the audience i think. maybe he should've have a different choice of words. he led one to two teams. with the first victory of the season. he quickly becomes the favorite. you never know who's going to win it because this is a restricted play track. if you can just ride in the back and hope you can scoot to the front is a great american race and i encourage everybody to try to go to at least one. there you go. obviously a big audience.
6:57 am
the start of the racing season. it's an exhibition. we will see where it goes. is this still the season is beginning. i'm thinking spring i think in spring training is here. go stewart haas racing. thank you so much. catch the fox sports report. disney is about to get more expensive. next our right here on mornings with maria. ♪ the tears are in your eyes, mvo: how hard is it just to take some time out of your day to give him a ride to school and show him you support him.
6:58 am
♪ and don't be ashamed to cry, ♪ let me see you through, ♪ 'cause i've seen the dark side too. ♪ ♪ when the night falls on you, ♪ you don't know what to do, mvo: when disaster strikes to one, we all get together and support each other. that's the nature of humanity. ♪ i'll stand by you, ♪ won't let nobody hurt you. ♪ i'll stand by you, ♪ so if you're mad, get mad, ♪ don't hold it all inside, ♪ come on and talk to me now. ♪ hey, what you got to hide? ♪ mvo: it's a calling to the nation of how great we are and how great we can be.
6:59 am
♪ i'm alive like you. ♪ when you're standing at the cross roads, ♪ ♪ and don't know which path to choose, ♪ ♪ let me come along, ♪ 'cause even if you're wrong ♪ i'll stand by you. ♪ i'll stand by you. ♪ won't let nobody hurt you. ♪ i'll stand by you. ♪ even in your darkest hour, ♪ and i will never desert you. ♪ i'll stand by you.
7:00 am
>> maria: welcome back. good monday morning, everybody. thank you for joining us. i'm maria bartiromo. it's monday, february 12th. your top stories right now. bracing for another wild week, stocks ended the week on a positive note last week. the dow closed up better than 300 points. it followed a volatile ride with the dow seeing its first and second largest point declines in history, better than 1,000 points twice last week. this morning, futures have the momentum to continue. we're expecting a big opening. dow industrials set to be up 250 points this morning, the s&p is up about 1%, as is the nasdaq, up 60 points right now. stocks are higher in europe as well. european indices taking a cue from wall street's perfor perfoe
7:01 am
at the end of a last week. the dax index is up 1.5%. in asia overmostl overnight mos. some weakness in hong kong with the hang seng down a fraction. investing in america, president trump is set to unveil his highly anticipated infrastructure plan today. the commander in chief expected to propose $200 billion in federal spending over 10 years to improve things like the country's highways, among other things. the plan is part of the administration's fiscal 2019 budget which is set to be released later this morning. the battle over the memo, democrats on the attack this morning after the white house declined the release of the democratic counter-memo on fbi surveillance abuses. the president sent the report back to the house intel committee for changes after concerns were raised by the justice department because things needed to be redacted. i spoke with devin nunes yesterday about the war of words on sunday morning futures.
7:02 am
>> this was not a surprise, so this was after they had accused the republicans of putting sources and methods into our memo. we actually did not. we just put in what we thought the american people needed to know. it was clear from the beginning that they packed it full of sources and methods. >> maria: chuck schumer is out saying what is the president hiding because he has to redact things. another setback for puerto rico to report. the latest this morning after an explosion at a power plant plunges parts of the island back into darkness. the loss of electricity occurred again. fighting the opioid epidemic, the details as the maker of oxycontin said they plan to stop promoting the drug to doctors in the u.s. it will cost you more to visit the happiest place on earth. the price increase that has disney feeling the force of fans this morning. wait until you hear how expensive its gotten. all those stories coming up this
7:03 am
morning. joining me to break it down is dagen mcdowell and lee carter as well. good to see you. >> great to be here. >> maria: we've got the budget coming out, market rally, what are you looking at? >> dagen: i'm glad the new york sometimes understands that when money goes into treasuries, yields go up. they actually printed that over the weekend. when money goes into treasuries, the yield goes down, so money flooding into treasuries didn't send the yield to four-year high on the 10 year. >> maria: explain what happened, dagen. people are scratching their heads, looking at the volatility. what has happened in terms of the stock market reacting to yields? >> dagen: there's a worry that in higher inflation, and we saw it in the wages finally growing almost 3%, that higher inflation that's finally trickling down to regular folks could lead to
7:04 am
significantly higher interest rates. you saw the 10 year yield move up. it's at 2 poi 2.88% right now. the concern is the federal reserve could move quickly in raising shorter term interest rates and reducing the size of its giant bond portfolio which is still at about $4 trillion. one real quick thing. we are at risk of an interest rate spike, simply because americans have a record amount of revolving credit. it's north of $1 trillion now. we are indebted as a nation and as individuals. higher fro interest rates, we ct afford it. >> maria: it will cost more to pay interest on the debt. joining us is mark herd, the ceo of oracle. american trucking association ceo and president, chris sphere, will join us as well. we'll talk about things from the union perspective. plus, olympic gold medalist apollo ono is with us this
7:05 am
morning, as well as david stockman to weigh in on the budget reaction this week. don't miss a moment of it. let's take a look at the markets this morning. futures are indicating a rally at the start of trading, up 300 points on the dow jones industrial average, up 70 points on the nasdaq. this after stocks rebounded on friday. joining us is tennessee congresswoman, marsha blackburn. there was also upset about the budget announcement last week, basically saying we're in it for as long as the eye can see, trillion dollar deficit. how do you see it? >> we had to correct the issue with our military and we had to get them out from under that obama-era oppression. when you're losing more of your troops in training accidents than you are -- than you ever have, you have to fix that. so that is what we did. and i have to tell you, i was
7:06 am
honored to stand with our troops and stand with the president to get this fixed. because that had to be done. >> maria: jack keen comes on the show a lot. he said it repeatedly. he said 50% of our planes are not flyable. >> that's right. we cannot get them into air. and if you were with me in tennessee and going on post at fort campbell, that is in my district, and were going into some these hangars where they're repairing the planes, these hangars were built in world war ii. and you see they've got one chopper and they're cannibalizing parts and using it to fix others and they're very innovative, but maria, they had to have contracting authority. and to give them that, so that they can go back to entering in contracts, and we can get all of these aircraft fixed, it was important. >> maria: i agree that the military spending is important. even republicans are questioning the spending elsewhere. did you feel hostage? you had to play hostage to get
7:07 am
the military spending on the books but also having to spend elsewhere, discretionary spending? that's one thing we've spoken about. >> we had to get ipab off the books. that's another piece of obama obamacare. the independent payment is gone. those are gone. they're off the books. we put billions more into the opioid epidemic. that is a crisis. resources are needed. when i meet with my sheriffs and local officials, they'll tell you they need more resources to fight this, whether detox or recovery. so those are specifics that were addressed in this with the spending. do you like the spending? no. do you want to cut it back? and i'm looking forward to the president's budget that comes out today and mick mulvaney's mark on this. >> maria: that budget is
7:08 am
relatively moot. it's a 2019 budget proposal from the white house while congress already agreed to raising spending in 2019. so you're raising spending and not cutting it. $6 billion to fight the opioid crisis but $1 billion was allocated two years ago with nobody in washington tracking how that money is being spent and the effectiveness of it. people stopped going to rehab and they overdosed multiple times, even in any given day. again, if you're going to throw more money at the problem -- and correct me if i'm wrong but the sequestration cuts, the republicans controlled the house when the cuts were put into place, so those were cuts that you thought were okay then, not okay now. and there's no cuts to be seen in this new budget. >.we're going to be spending moe money on the interest on our national debt than our defense. that's the gravest danger to our
7:09 am
national defense is how much we're spending on interest. >> i agree with you, that the debt is an issue and needs to be addressed. absolutely. the interest is an issue and needs to be addressed. when it comes to opioids, we're continuing to do work on that with the food and drug administration, the national institutes of health, substance abuse and mental health, the cdc, and the drug enforcement agency and keep pushing these federal agencies to give us the data we need to make better decisions to support our local and state officials. so i agree with you on that, dagen. this is an issue that has gotten away from us. when it comes to the spending, we get into the appropriations process and every year i offer bills and amendments to cut 1, 2 and 5% across the board. getting into entitlement reform with medicaid and looking at
7:10 am
sending that back to the state. those are areas where we can make significant issues for the good of my children and grandchildren, we have got to change the way this entitlement situation works. we cannot sustain this level of debt. totally agree with you, totally agree that what happened with the military sequestration was not a wise move, because it was t cutwascut, cut, cut to the miy and spend, spend, spend on social programs and you can not sustain that and we have to turn it around. >> a lot of people, congressmen and women have business backgrounds, successful business backgrounds, but we haven't had a commander in chief that's had a business background. do you see things differently where if you're running a business, if you lose more than you make you're out of business. so do you see it now kind of the tide shifting where being we he have at the top someone who is
7:11 am
pro business and knows how to balance a budget or should know how to balance a budget, are things different, where can we really attack the deficit? >> we can. you get a different starting point. you take somebody that's a budget hog like mick was when he was in the house and you put that with a commander in chief, if you will, who is determined to get regulation off the books and it's kind of that old formula that i say, less regulation plus less litigation plus less taxation equals more innovation and job creation. it works every time. we've seen it work over and over but you've got to have the willpower to do that and the force of leadership to do that. >> maria: republicans control the white house, the senate and the house and you're not cutting anything. i think that's -- just to be fair, they do need 60 votes. they still need 60 votes.
7:12 am
they need democratic votes. >> dagen: we just raised spending $300 billion over two years. >> maria: this is the conversation you're hearing across the country. >> only $100 billion of that was offset and you're exactly right, the house mark would have reduced spending. it was the most conservative budget we've put forward in 20 years. the senate -- it goes to the senate and the spending raises and it happens every single time. >> maria: that is immigration. let's talk about the $200 billion that the president wants for immigration. that debate begins today in the senate. a group of senators are planning to introduce the secure and succeed act. that includes $25 billion for border security, path to citizenship for some daca eligible immigrants, limits on family based immigration. tell us about the infrastructure plan and what the white house is envisioning. $200 i$200 billion in federal spending.
7:13 am
>> part of that will be broad band expansion. as chairman of communications and technology, we're already working on this. a big part of it is going to be getting regulations out of the way, simplifying, getting rid of red tape and making certain that it is easier to get high speed internet into rural america. that is something we're doing on a bipartisan basis. i'm excited about that. it's the number one infrastructure issue that our county mayors have. there will be some for waterways. we have areas that don't get clean water. and then you're going to see the rest of it into roads and bridges and traditional infrastructure. but yes he, th yes, the high spt i think is the most exciting component of this. >> maria: in terms of where the money comes from, what do you say to those people who say, again, as dagen brought up, the interest on the debt will make things more expensive and you're talking about another $200 billion in federal money. >> much of that supposedly we
7:14 am
will see, we don't know the details yet, but when it comes to broadband, we have a way to pay for this. my hope is other components, they will pay for this. we cannot afford to go into debt on this. >> maria: congressman, it's good to see you. thank you so much. coming up, puerto rico back in the dark this morning. the new power trouble as the island struggles to rebuild in the wake of hurricane maria. and no more promoting pain killers, how the makers of oxycontin are working to curb the opioid crisis. back in a moment.
7:15 am
7:16 am
7:17 am
>> maria: welcome back. looks like markets kicking off the week on a strong note, building on friday's rebound. futures indicate a 300 point rally at the start of trading this morning. nays taxenasdaq, s&p 500 very s. a major setback to report for the recovery efforts in puerto rico. an explosion plunging part of the island into darkness once again. cheryl casone has the he details this morning. >> reporter: they don't have full power since maria. a malfunctioning switch sparked a massive fire. photos on social media show damage to all of the equipment there. it's unclear how many people are without power this morning. they hope to get powerfully
7:18 am
restored later today. over 400,000 people in other parts of the island are still without power more than five months after hurricane maria. the drug company, perdue far maa is bowing to pressure to stop marketing objection eco oxycont. they will no longer send representatives to promote the drug. this io.j. simpson just had anor big payday. the disgraced actor, former athlete, was reportedly paid $20,000 by sasha baron cowen to ahere in his next movie. the move provoked outrage from the families of nicole brown
7:19 am
simpson. simpson was found liabel for her death in a civil case. simpson's releas was released fm prison last year. despite critics slamming the movie "50 shades freed," it came in number one at the weekend box office. it raked in $38.8 million over the weekend. "peter rabbit" made $25 million at the weekend box office. "15: 17 to paris" came in fourth. "jumanji" came in next. >> thank you, cheryl. >> maria: coming up, dueling memos affecting was washington.
7:20 am
the implications for the fbi, next. the happiest place on earth doesn't come cheap. how much ticket prices are going up at disney world, next. no matter how the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence. today, innovation in the finger lakes is helping build the new new york. once home to the world's image center,
7:21 am
new york state is now a leader in optics, photonics and imaging. fueled by strong university partnerships, providing the world's best talent. and supported with workforce development to create even more opportunities. all across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov. to grow your business with us in new york state, a trip back to the dthe doctor's office, mean just for a shot. but why go back there, when you can stay home, with neulasta onpro? strong chemo can put you at risk of serious infection, which could lead to hospitalizations. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day, so you can stay home. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen,
7:22 am
sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache. so why go back there? if you'd rather be home, ask your doctor about neulasta onpro.
7:23 am
>> maria: welcome back. now to latest on fbi surveillance abuses and the controversial fisa memo. i spoke with chairman devin nunes this weekend, got his take on how far the dossier
7:24 am
descension goes. how far up the chain does this go? was barack obama and hillary clinton basically pulling the strings? >> well, we know that the attorney general was briefed in the spring of 2016, so we know she was made aware. we know now by the people from the state department who have said that john kerry, second kerry was briefed on the dossier. we know most of the news media was briefed on the dossier. so all of this was out there. everybody i think but the drum campaign and republicans -- trump campaign and republicans and the american people, everybody outside of those three groups knew about the dossier and were actively trying to open investigations, start investigations to use this dirt to go after the other campaign. >> maria: joaning us right is judge andrew napolitano. good to see you. >> good morning. >> maria: they all knew that the dossier was unverified is basically what he was saying, yet they used the dossier as the reason to wiretap the trump
7:25 am
campaign. >> it's hard to believe and it would be impossible to believe that loretta lynch, then the attorney general didn't know about it and it's hard to believe that barack obama, who we know, barack obama, who we know from the peter strzok, lisa paige text, wanted to be kept informed about all of this. what congressman nunes congressd you, which was a great interview by the way, what he also told you was that somebody in "the westhe west wing committed a . a transcript of this showed up in the washington post. that is literally a felony. that's hacking. >> maria: nothing was done about it. >> nobody's been prosecuted. i blame the present justice department for not pro prosecutg anybody more that.
7:26 am
i have been critical of the use of raw intelligence data for political purposes, that is very dangerous. it's especially dangerous when politicians and congressman nunes, congressman schiff and their colleagues have top secret security clearances so they can do this, the rest of the members of congress can't, they can cherry-pick national security information to create a political narrative. in my view that's very dangerous and it leads to calls and i have been part of this charge for release of the underlying data. that's also dangerous when all this top security stuff is released. >> maria: i think the american people are sick of the fighting back and forth. they just want the truth and they would like to see accountability. they would like to see if there are felonies, they want to see somebody responsible. here's newt gingrich on what he called the deep state. >> the one text message in which
7:27 am
the fbi agent said we've got to brief comey because president obama wants to know everything, it raises a whole series of questions about what the devil was going on. i think you probably have the president involved. you have the attorney general, loretta lynch, who you remember met in secret with bill clinton the week they were interviewing hillary. you now have evidence that comey, the director of the fbi at the time, was writing the statement exonerating hillary two months before the interview. i mean, let's go down the list. on the protect hillary side and the get trump side, it's the most extraordinary example of the deep state, totally abusing the rule of law. >> maria: they abused power. >> he's 100% correct. to get back to what we were saying earlier, it may very well be that the puppet master behind all this is the former president of the united states, barack
7:28 am
obama. but a lot of things starting to come out about his personal involvement in this, maria, not the leas least of which is backo hillary and the e-mail, that he e-mailed hillary back and forth, back and forth, he must have known it was going to and receiving information from a private server. if any of that was confidential, secret or top secret, essex posed to the same charges that mrs. clinton was exonerated for and still can be charged for if the justice department had the gumption to do it. thipeople will want to see whatr comes out. people will want to see more. i don't like it when the government treats us as children. here's our version, here's their version, the public's not allowed to see where it came from. >> maria: if you want to boil it down, the current government in place used government resources
7:29 am
to kill a political enemy. >> to attempt to, yes, correct. >> maria: all of the booby traps and the stuff, the barriers they put in donald trump's way, he still won. it's incredible. >> it would also be incredible if there's no prosecution as a result of this. because if he had lost, we wouldn't be having this conversation. none of this would be coming out. president hillary clinton would be triumphant and we wouldn't know what happened. now that we do know what happened and now that there's enough evidence to prosecute people, whether it's barack obama or john brennan or loretta lynch or jim come hey, they, the department has to do their job. >> maria: , yes do their job, jeff sessions. where is jeff sessions? judge andrew napolitano, thank
7:30 am
you sir. coming up, the dow looking at a triple digit gain at the start of training. i'll talk with mark herd and mark frizora about last week's wild swings on wall street and where they see growth coming from now. back in a minute. ♪ no, please, please, oh! ♪ (shrieks in terror) (heavy breathing and snorting) no, no. the running of the bulldogs? surprising. what's not surprising? how much money aleia saved by switching to geico.
7:31 am
fifteen minutes could save you fifteen percent or more.
7:32 am
7:33 am
>> maria: good morning. welcome back. good monday morning. thank you for joining us this morning. we're at the highs of the morning. i'm maria bartiromo. thank you for being here. it's monday, february 12th. you're taking a look at markets right now. we are at the high of the morning now at 7:30 a.m. on the east coast. dow industrials are up better than 300 points. futures indicating a big start to trading this morning with the nasdaq up 73 points. that's better than 1% on all of the major averages. markets extending the recovery that we saw at the end of the session friday. the dow is up better than 300 points on the session friday but it was a volatile day in a trading range of more than 1,000 points throughout the day and of course the massive trading range for the week where the dow dropped 1,000 points on two separate occasions last week. the dow and s&p 500 on friday
7:34 am
were up strongly. in europe this morning the major indices took a cue for wall street. money is moving into stocks there as well. the dax index in germany is up 1 2/3%. japan was closed for a holiday. the other majors were up, hang seng was down a fraction. the trump agenda in focus, the white house set to unveil a $200 billion infrastructure plan as part of the fiscal 2019 budget. there are growing concerns about the level of spending and the soaring definit deficit, a triln dollar deficit for many years to come. the happiest place on earth making a bigger dent in your wallet. disney is raising prices of their theme park business. find out how much it will cost to visit mickey and min minnie coming up. alibaba will now be able to stream disney content on its video platform. futures are indicating a strong opening for the market this morning following the volatility that we saw last week.
7:35 am
joining me in an exclusive interview is the ceo of oracle, mark herd, along with he key cas entertainment president, mark frissora. we're getting an inside look at business as markets trade wildly as we wonder what is going on. mark, let me kick it off with you. >> we're both mark. >> maria: two marks. we'll start with mark herd. in terms of the growth in the backdrop of this market, you say we're where? sp when yo>> when you talk abou, you can talk geographically and by industry. i think the u.s. is doing well. u.s. has been doing well for a while. we see it in small, medium business, large cap. people are talking about investing, modernizing applications. perhaps a little different depending on what geography you go to. >> maria: for the first time in a long time, aren't we seeing
7:36 am
synchronized global growth around the world. we have growth in europe and japan. you're one of the most international countries out there. >> there's good growth in asia. the biggest sectors in europe is financial services, probably not as strong of growth in that industry there. those banks are still recovering from a lot of what happened in 2008. overall, i'd say economy is fine. >> maria: you are such a fantastic indicator for us. you're seeing bookings going forward. you see what businesses are going to be spending on in terms of their r & d, their i.t. spending. this is an important indicator when you look at oracle because of your business and your customers. let me get your take on the trickle down impact of president trump's tax plan and what you're seeing right now out there. >> right now the economy's been percolating along just like it was for the last six months. we haven't seen a whole lot of change. our demand in the u.s. has been pretty constant. as you know, with vegas, we had this tragedy that occurred in october and after that we saw
7:37 am
some slight softening of the business. that's recovered mostly. but in general, we're seeing good demand and a good economy which supports our business model. >> maria: you see companies giving more bonuses, money to workers, and you would think that passing on that tax savings would be good for the customer who is going to plow that right back into the economy. >> i think that's partially true for sure. i think for us, when we look at the tax plan, it gives a much better incentive to invest, if you will, in capital in the business. so it takes our internal rates of return much higher as a result of the tax cuts. >> maria: i want to ask about the cloud. i i don't know if you saw the op ed on the cloud in the journal. companies fight for where their most precious data is going to sit. it's not in the file cabinet anymore in the office. let's talk about the breaking news, oracle is expanding your cloud infrastructure, rolling out 12 new data centers and center regions, caesars
7:38 am
entertainment moved their financial system to the oracle cloud. tell me what you're doing. >> as you know, we're growing. we're growing. we're expanding our footprint globally to get to more geographies, to get to more countries. we're going to add a couple of other data centers in the u.s. we're going to do it, by the way, as our margins continue to expand. our margins in the cloud have been going up. they will continue to go up. it's all about growth. we're getting more customers, we're getting more transactions, we're growing more data center as a result. >> maria: so why did you make the choice to use oracle, mark? >> our whole strategy is to move to the cloud and so mark and his company have done a great job enabling that with our new erp system and we're putting our human capital system combined with that, so it's a big platform for us and it combines a lot of efficiency, gives us a lot of speed, allows a lot more security for the network and so everything is real-time and we used to have 2,000 spreadsheets so we close every month with,
7:39 am
they're all gone. journal entries are down 95%. ouexternal auditor fees are gone 20%. >> maria: there's an op ed in the journal this morning about the cloud business and why some companies are having a hard time, they used to have all the -- thank you very much -- they used to have all their information in the file cabinets. now they're trying to figure out how to store it. they're putting it in the cloud, mark. you saw the op ed that i'm referring to. it's too hard to search the cloud by michael turtott in the journal today. i want to know why the cloud is the best answer. i recognize we're in a data world where it's limitless and you can't fit it in the file cabinet anymore. now companies regularly fight costly legal battles with the u.s. government. both sides want to know can a u.s. warrant compel the exposure of data stored abroad and when it's in the cloud.
7:40 am
>> i think data sovereignty will continue to be an issue. overall, it costs less to have your data in the cloud. it's more secure to have your data in the cloud. you get more innovation when your data's in the cloud. these are basic, fundamental things that aren't just about technology. they're about the business model and the strategy of the company >> maria: what are you seeing for the smaller guys trying to take market share from your business and some companies have said over the years let me go with a smaller company rather than opening myself up to a large corporation like an oracle. you still have the smaller like the workdays of the world nipping at your heels. >> applications market in the world probably growing 2%, 3%. we're growing double digits, 15%. i think last quarter in usd our technology business is gaining share many we have roughly 50% of the database market.
7:41 am
we're gaining a little bit of share in that market as well. obviously when you're a leader lots of people would like to take your business but our business is growing and we're taking share. >> maria: does it do anything specific for the gaming industry, mark frissora, in terms of sectors using the cloud and why you have been so loyal to oracle, what specifically from a practical basis are you getting? >> for us, the whole industry, frankly, is all legacy systems, very slow systems, not real-time data. so we're trying to move everything on a technology front to the year 2000 or above and, frankly -- >> maria: that's a big effort. >> it's a big deal. we want to be first to do that. again, it's been very helpful to have oracle's experience and their development programs accept to help us. you should note that in this casino industry, if you go to the floor, you can't get real-time customer data. you can't get your total reward program downloaded immediately. that's what we're moving to. we should be there by 2020, 100% of everything we he have in the cloud.
7:42 am
>> maria: let me ask how things have changed since one of your colleagues in the business stepped down. steven wynn stepped down following allegations of sexual misconduct. it's a relatively small community, obviously. impact? >> it's too soon to speculate, i think. so very difficult for us to gauge what the impact will be. so i know obviously we have a zero tolerance on sexual harassment and bullying. from our perspective, we're trying to make sure we do the right thing. >> maria: you made a good point about the tragedy we saw in vegas. obviously the terrorist attack put a freeze on things there. you think it's come back since then? >> we're seeing definite improvement. we first saw the first couple weeks a slowness that maybe was like a 4% to 5% kind of impact. but most of that's all gone. we haven't had any conventions canceled or meetings canceled. >> maria: let me ask about what these markets are worried about. we're expecting a big rally at the start of trading today. people are worried about a tight
7:43 am
labor market, they're worried about wages up year over year. your take on these pressures. are you seeing pressure in terms of needing to pay people more, wages going up, inflation? >> i think it's a great labor market. there's a lot of talent out there. we're an attractive hirer. and we feel great about the talent we're getting. you go to the college campus today, maria, the talent available to us is like talent we've never seen. >> maria: is that right? all this talk of we need more immigrants, we need more people in terms of putting them in the job, you say you can find the people with the skill sets you need? >> we'll probably hire this year 2500 kids out of u.s. colleges and train them. they're amongst the best talent. it's so exciting when they come into the company and our ability to recruit them, we've had 85% of the people we offer a job to will accept it. >> maria: are you seeing that too? >> we have no issues hiring. we have 30,000 employees from 3e strip and with las vegas college
7:44 am
there, it's doing a great job in terms of providing good students to us. >> maria: sounds like you're not worried about inflation? >> not at this point. >> maria: sounds like you're not worried about a tight labor market. >> i'm not worried about a tight labor market, no. we're investing. >> maria: has the market selloff been overdone? >> i worry less about the market. i worry more about oracle, to be honest. we're investing in new facilities. we're hiring people. our margins continue to increase while we hire. we're bullish. we're excited. >> maria: we'll leave it there. on a good note. great to see you both. >> thank you. >> maria: we'll be right back. it's time for the 'ultimate sleep number event' on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. and snoring? does your bed do that? right now during the ultimate sleep number event, save 50% on the ultimate limited edition bed with adjustable comfort on both sides.
7:45 am
ends soon. visit sleepnumber.com for a store near you.
7:46 am
7:47 am
>> maria: welcome back. disney now raising ticket prices at some of its theme parks. the company is inking a major streaming deal with alibaba. we have details from disney this morning. >> reporter: it's like a rite of passage to take the family to disney world. it's costing an arm and a leg.
7:48 am
theme park revenue and attendance were up in a big way. ilet me show you what prices are doing. at disney world in orlando for peak day, most expensive ticket for an adult is $129 a day and in california at disneyland it's $135 a day. translation, family of four going for one day, peak prices with parking, $570. that's how much it's going to cost you. >> maria: that's a lot. >> reporter: it's still packed. i'm so surprised by this. 2017 they added a lot of attractions. next we're is star wars. that's when they're adding those attractions. before the price hike, a lot of analysts say 2018 would be a mediocre year but still in a mediocre quee year they're ableo this. disney shares this morning up 1.3%. >> and $20 for a big turkey leg while you're there.
7:49 am
>> and the food and souvenirs. >> will you take your six kids? >> we were just there and it was packed, lines. they do a great job of moving the movies into attractions and then you wait in line for the attraction. >> dagen: do you pay for the fast pass? >> i do. >> dagen: i would too. >> you might as well. >> dagen: i think that's a good decision. >> it's kaye. >> i. thcrazy.>> the other piece of dy news this morning. they inked a deal with alibaba. we don't have a price tag on this. but getting 1,000 disney shows and movies into the chinese market, the name of the alibaba streaming service, it reaches 30 million households, it's called yuku. disney tried this last year and it didn't work. by teaming up with alibaba they were able to do it. >> maria: coming up next, a jolt to the trucking industry, tesla
7:50 am
vows to redefine shipping. chris spear is here weighing in on that and the trump administration's trucking plan. back in a minute. ♪ when you have something you love, you want to protect it. at legalzoom, our network of attorneys can help you every step of the way. with an estate plan including wills or a living trust that grows along with you and your family. legalzoom. where life meets legal. where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.
7:51 am
7:52 am
retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
7:53 am
>> maria: welcome back. businesses across the country eagerly awaiting details on president trump's highly anticipated infrastructure plan. we're expecting that today. one of the largest impacts will be felt by the men and women who spend their lives on the road. the trucking industry. joining us right now is chris spear, the ceo and president of the american trucking association. chris, it's good to see you. thank you for joining us. >> thanks for having me. >> maria: the president tweeted this out this morning, this will be a big week for infrastructure after so stupidly spending
7:54 am
$7 trillion in the mideast, it's time to start investing in our country. what do you want to see from the infrastructure plan from the president? >> the president's right, we'red we're delighted to have the debate. we're happy the president made it a priority. now the real work begins, paying for it. infrastructure is not free. it's not cheap. and american trucking's not going to whistle past the grave dhs yargraveyard on this. we're proposing a building america fund. it will raise $340 billion over 10 years. it's real money. it's immediate. it will shore up the trust fund. it's conservative, less than 1 cent on the dollar to administer it. we need real money on the table. that's what we want to see out of the h the debate. we're here to help the congress and the president get an infrastructure across the finish line. >> this is mike murphy. we hear so much that the economy's improving. there'improving and there'sa bir
7:55 am
people to help transport the products from one point to another. but how do you foresee the future when we hear a lot about driverless trucks and technology affecting the driving industry as a whole. how do you see that a year or five years out from now? >> we currently move 71% of the domestic freight in the country. if we're going to grow we'll have to add innovation into the debate. we welcome it. we don't believe it's a debate about driverless vehicles. we believe it's a debate about driver-aand hoassist and how tey can make the fleet safer and serve the economy going forward. we believe this is a conversation about driver assist technology. this will come about in the next 10 years and the 1 10 years. >> dagen: that five cents a year you're talking about, that's from increasing the gas tax, yes
7:56 am
or no? >> yes, it is. it would be baked into the price of fuel at the wholesale rack. we believe this is the most efficient, immediate way to shore up the trust fund and fund the infrastructure package. ronald reagan signed a similar proposal twice during his administration. we believe it's conservative, less than 1 cent on the dollar to administer. we're here to help the president and congress find real money on the table, not fake funding schemes like tolling or public/private partnerships. that's only applicable on less than 1% of the roads and bridges out there. for the vast majority of roads and bridges, you need real money. p-3's tolling that costs 35-cents on the dollar to administer. that's not conservative. our proposal is. we believe it's the right way to fund infrastructure going forward. >> maria: that's what dagen said a minute ago. you said we should try to look to the people who use the roads mostly. >> the federal gas tax hasn't gone up since 1993, 18.4 centss
7:57 am
o18.4 centson every gallon, noto inflation. they take money from the general fund, meaning income taxpayers are paying to repair the roads in this country. >> what about electric? >> we see alternative fuel as a viable solution in the future, maybe not in this coming 10 years, but maybe in the following 10 years we're going to he see more alternative fuels like electric. the problem is infrastructure, how do you charge it, how do you build out the infrastructure to provide the power for that technology. >> maria: tesla just announced its launch of the electric tesla. chris, good to see you, thanks so much. chris spear there. we'll be right back. if you've been diagnosed with cancer,
7:58 am
7:59 am
searching for answers may feel overwhelming.
8:00 am
so start your search with our teams of specialists at cancer treatment centers of america. the evolution of cancer care is here. learn more at cancercenter.com/experts it is monday, february 12 your top stories right now 8:00 a.m. on the east coast. buckle up investors preparing for another possible volatility week on wall street a good market this morning expecting stocks rallying today, after a big friday close, on a positive note, the dow up 300 points friday 330 points one and a third% nasdaq up 1 1/2% s&p up 11/2% the memorandum continues take a look we are expecting a strong opening this morning, we are off the highs, just by a tad the dow jones industrial average expected up 280 points better than 1%, nasdaq expected to be up 60 points, better than 1% as s&p 500, better than 1% as well.
8:01 am
in europe, stocks are higher as well take a look at money into equities in london on ft 100 up one and a quarter% paris cac quarante up 1 1/4% dax in germany up 1 1/2% stocks closed mostly higher japan closed for a holiday, concrete plans, president trump is set to unveil highly anticipated infrastructure plan day commander in chief expected to propose 200 billion dollars in spending over 10 years to improve things like kin's hois highways, part of fiscal 2019 budget also set to be released later today. >> the budget does bend to the trajectory move us towards balance gets us away from federalize deficits because this deal was signed does not mean future is written in stone we have a chance to change this trajectory. >> breaking down that tragedy we are looking at budget plans this morning, meanwhile, there is this san francisco 49ers line braker foster arrested
8:02 am
second time less than a month details as he skaifg domestic violence charges. >> targeting delivery later target same day delivery, eyes twin cities history on icing u.s. figure scarcity becomes first american woman to land a triple axle in olympics all the highlights from wild first weekend at winter olympics all those this monday morning joining me to talk all about it fox business network dagen mcdowell rosecliff ceo, hoo mike murphy, lee carter good to see everybody. >> nice to be here. >> good show. >> we need a series of emojis of faces that are coming -- listening to mick mulvaney talk about how this budget is not written in stone, we have declining deficits, in years to come. >> he said you can you can change trajectory of trillion-dollar deficits. dagen: budget didn't. that boufrj sure didn't.
8:03 am
it is not funny. maria: no, not, talked about it earlier, seems to sfeel like yes, you are right, but but wall get our arms around it hard to get arms around it without getting armed an entitlement. dagen: getting to entitlement reform if i hear one more republican say that after that budget deal inked last week back of my head is going to explode. >> one of the reasons markets wild uncomfortable with higher interest rates markets ataenlting a rebound global markets starting off positive stocks saw worst week in years, last week futures a gain start of trading this morning 00 points one and quarter percent higher on the dow, and on s&p, this morning joining us right now to weigh in former a regular budget director david stockman thanks for joining us. >> happy to be here. >> thoughts on markets, as interest rates move higher has been a concern at the budget and spending levels.
8:04 am
>> right we are having a dead-cat bounce apparently this morning i think all over except shouting last week crossed the fiscal rubicon. we have now created a catastrophe for fiscal year 2019 begins in october, they are going to boro 1.2 trillion dollars at a time, when the fed for the first time in 30 years, is going to be shrinking balance sheet, the same thing as selling bonds, into a bond market that is treasury is extracting 1.2 trillion from they have said this is automatic pilot not even publishing the schedule anymore they want no doubt that they are going to be shrinking, at a 600 billion rate beginning october 1. now if you add 600 billion, that they are dumping into the market, with 1.2 trillion, the treasury is going to be extracting from market who is going to fund that massive 1.
8:05 am
8 trillion-dollar number? that concurrent interest rates not going to happen, there is going to be a bond market collision of epic pro portions yields keep rising through 3.0%, soon, on the 10 year heading towards 4. and, finally, the day traders are going to wake up that we are in a new era, that even goldman over weekend said you know, era of buy the dip is over, unlike the bonds. maria: built they say goldman said growth in economy 18%, we want to buy stocks right now. goldman establibullish. >> depends whether advising mullet -- or whether they are reviving -- >> research is bullish on stocks we know that. >> the point they did say that. my point is you are not going to turn this around, it is too late. and here is the key point. this is this will be year 10 in a business expansion.
8:06 am
if we get to fiscal '19 massive borrowing without recession month 124 of expansion started in june a historic record, that would be beyond the all-time record of 118 months in the 19 09d's as everybody here remembers was a far more benign environment, so if we look forward, we are going to have a tremendous as i say collision, in the bond market that is going to reverse this whole giant bubble. that has been building for the last nine years. >> david, so it is -- i think it is pretty easy to take a few data points, and come out and talk about the end of the stock market or bond market but i think for viewers at home i want to is very important, to note that over the last 100 years, being invested has been a good place to be, rather than not being invested for people like yourself see market about
8:07 am
imploding there are ways to bet against the market for most people at home watching our program, to the doom and gloom kind of headlines can sell but history says that being invested in the market is a better place to be than -- >>. >> i don't disagree with that i would say buying the market march 2000 a terrible idea it took you seven years to get back to where you started. buying the market -- >> sell the market in february 2000 -- >> we are at all-time peak here we are 10 years into a business expansion, they never last much longer than that no one repealed you know, recessions out run recessions we are paying 26 times current s&p 500 earnings, for fiscal -- for 2017. 26 times, that. >> -- that was last year we are trading 18 times expected earnings for coming year right. >> expected earnings are meaningless expected earnings are a hockey stick always get
8:08 am
adjusted, down -- >>. maria: they're getting, redone up -- the tax benefits. >> not really. maria: expecting 20% earnings growth 2018. >> expecting 20% earnings growth over last year but let's get this straight. in the 12 months ending in september 2014, a while ago -- earnings gap he i don't no where all xitem stuff you don't count anything inconvenient x-items 126 a year in year-ended 109, in other words, in thee years we made 3 dollars of real earnings on s&p 500 if they go up in exyear you are end of a cycle you do not value earnings, the end of a cycle the same rate you value them -- >> not going up a little bit david they are going up 20%, partly on -- >> got to be honest clear in terms of what earnings picture is going to be. >> the thing bothers me that because, in large in part
8:09 am
because of tax reform, that you have an economy that is growing, this is when you need to impose fiscal masculidiscipl 300 dollars plus spending baseline essentially of trillion-dollar annual deficit that is mind-boggling befuddling quite frankly dumb. >> it is dumb this is the point i want to disagree with the current budget director there is no downward trajectory. they have locked in 15 trillion of new borrowing over next 10 years, they have decreed national debt will be 35 trillion by the time we get to end of 10 i wouldn't cycle that is not counting a recession, that is assuming, that we go all the way to 2027, without a recession. never happened in history, can't happen it is really kind of a ridiculous assumption. one day one of these days the economy will roll over there
8:10 am
will be a -- black swan a red swan i don't know what it is going to be, but when it happens, the deficit is going to be explode to two trillion three trillion, we are going to be in biggest fiscal mess imagine when able those yields soar at the overshoot everybody keeps thinking we see it coming it has all been -- transparent. no markets overshoot front runners buying bond when fed was buying, are soon going to figure out the way to make money is sell, what the fed is selling, that is shrinking this balance sheet, by -- you know, 50 billion a month. of the beginning in october. and then the front-runnerings start selling what fed is selling the treasurer borrowing all this money, you are asking for a biblical you know -- a biblical -- collision. >> what should sheriff done in terms of of the budget last week? they needed to fix sequester impact on military what is what republicans will say.
8:11 am
>> they are full of it okay? we are talking about military spending, is crazy. if you take all the hostiles in the world china, so-called hostiles i don't believe it, 200 billion, russia 70 billion iran 12 billion, whole gdp. >> what do you have to say about fact 50% planes in the navy are not flyable. >> conducting seven wars we don't need to have. >> regardless the military is not up to speed in terms of readiness. >> we could get out of wars get out of afghanistan why still there, 17 years later? what are we doing in somalia, where monkeying around. >> different subject. >> that is why all this money allegedly is needed. dagen: he makes a point james freeman agreed with this sequester cuts in defense felt not well run the money to fund it not we will allocated he raises of issue vast government mismanagement, and
8:12 am
the solution by democrats and republicans has always been throw more money at it again opioid crisis just you throw money at it not going to track how existing money has been spent. throw more at defense department, throw more money at child cared centers, infrastructure spending nobody tracks it of all people upset about the shovel-ready jobs didn't show up with obama stimulus plan why are they now cheering 200 billion dollars by the away 20 billion infrastructure spending in budget last week 200 billion more to be proposed by president trump today -- that is why again, it is like, why i like it if a republican president does it i like it if a republican congress does it, but i hate it if democrats do the the same doggone thing. >> a scandal to get 82 billion dollars, for defense increase they don't need, they agreed to give the democrats, 65 billion, more of domestic spending that we absolutely can't afford, so now you have
8:13 am
the warfare state welfare state to kill fiscal outlock fed tlienl saying we are not going to monetize the debt. >> when you say they don't need military money, to what do you attribute all that we report are on every day in military. >> all these accidents that you report on, is because their running the military red-hot around the world they should not be all they have to do is stop, this wouldn't be so many accidents. we don't need to be running the military at this rate because. maria: you think one of the reasons isis is on the run? >> we created isis. maria: come on now you are going off the cliff! now you are going off the cliff. >> we left. maria: who specifically created isis. >> we blew up the political skwe consensus. maria: president obama going into iraq yain instead of syria in a created isis. >> bush going into iraq blew up tentative agreement between
8:14 am
shia suni the kurds that blew up the country, when we finally left when we had to, isis then took all the weapons we left behind. maria: so where our point is so since, it was created under bush we should not give military any more money to put unifies on run i am not following. >> i am saying we should stop intervening everywhere in the world not a threat to the interests of the united states why go after -- >> we are not making any spending priorities, at all, if the military is a priority then we need to cut spending elsewhere not paying out more, in this interest on debt than we will in defense spending. maria: a good point. >> compound like you wouldn't believe we've gotten away with 300 billion -- ♪ ♪
8:15 am
8:16 am
after a day like this, most people would just order delivery. but you have a recipe for redemption. with blue apron, any night is a chance to see what cooking can do. this is a tomato you can track from farm, to pot, to jar, to table. and serve with confidence that it's safe. this is the ibm blockchain, built for smarter business. built to run on the ibm cloud.
8:17 am
jo nfl player facing domestic violence and assault weapons charges this morning cheryl casone. cheryl: that is right, san francisco 4ers linebacker has been arrested for the second time in a month police confirming the converter was related to domestic violence, threats and possession of assault weapon. he was held on 75,000 dollars bail foster under league review charged with second degree marijuana possession in tuscaloosa alabama last month we have been also joined teammates before a game this season kneeling in protest during the national anthem
8:18 am
oracle announcing plans to expand in the cloud going to open 12 data center regions boosting cloud business asia europe americas oracle ceo mark hurd discussing the move with you last hour. >> we are expanding our footprint globally, to get to more geographies to get to more countries actually going to add other data centers in the u.s., we are going to do it, by the way, as margins continue could to expand. >> oracle isn't saying how much that is going to cost or shares edging higher up more than 1% premarket. and then shth at a -- target stepping up battle with amazon expanding same-day shipping service minnesota st. paul area part of the plan same day deliveries to most stores by the headlined season, already offered many southern cities new service follows targets purchase, membership 99 dollars for uneliminated deliveries over 35 bucks,
8:19 am
sounds familiar if you had amazon prime target up 10% over the last year. maria: all right. thank you coming up next investing in america we talk about executive vice president of global operations about company plans for kentucky truck plant cheering for team usa a figure skater the first american woman to land a triple axle in olympics weighing in on history making moments, back in a moment. ♪ ♪ you better behoolieve, follow m ♪ ♪ you better believe, you could have found me ♪ so from the two trucks over here... i want you to pick a new truck for your mom or dad,
8:20 am
knowing that they could possibly pass it down to you one day. oh. cool. but before you decide, you should know that chevy silverados are the most dependable, longest lasting full-size pickups on the road. which means that ford f-150s are not. (giggles) which truck would you pick? the chevy. there you go. boom. that was obvious. plus it looks cooler. no doubt about it. now they know what to get me. today, the new new york is sparking innovation. you see it in the southern tier with companies that are developing powerful batteries that make everything from cell phones to rail cars more efficient. which helps improve every aspect of advanced rail technology. all with support from a highly-educated workforce and vocational job training. across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov.
8:21 am
to grow your business with us in new york state, ythen you turn 40 ande everything goes. tell me about it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that. you may need glasses though. yeah. schedule a complimentary goal planning session today with td ameritrade.
8:22 am
8:23 am
axle. market on fire futures a gain 300 points at open of trading markets expecting the rally to open, following two joining us right now to weigh in is editor and publish dennis gartman good to see you, sir. >> thanks for having me on. >> where are you on markets here? obviously going to be a wild year, do you think the volatility is back and here to stay? and what should investors be understanding about this wild trading? >> well, the volatility is here it is likely to stay let us hope maria that it is somewhat more subdued than last week, i can't continue to have that sort of vilt a sustained period of time it is here will be around will dimini what we saw thank goodness. >> you are bullish on this market. >> pretty ebb bullish especially after -- dennis mike murphy hope you are doing well, looking.
8:24 am
>> hey mick. >> i know you follow the commodities closely oil sold off with market last week, back above 60, what are thoughts on oil here in near future? >> anything above 63 dollars for wti is so profitable for almost any sort of fracker, that it is going to be very difficult i maintained did i to get above 36 to 65 dollars approved a resoundingly difficult area for the crude oil market to begin with, and what we have to understand, supplies in united states and around the world are background larger, demand is falling, one of the things that people are not paying attention to, pay attention to what is going on with amazon, pay attention to what is happening there, as everybody goes to the mall less and less and less than they had been in the past. at the same time, you are getting stuff delivered to you, perhaps that means a tenth of gallon a fifth of a gallon half a gallon of gas used less each month by every automobile driver in the
8:25 am
united states that weighs heavily on market. maria: interesting point. >> i think the people are missing that fact, supplies are increasing and demand is at the margin decreasing, i think we need to pay attention to that going to be very difficult for crude oil to sustain any sort of rally from here on out. dagen: it is dagen mcdowell that would be commodity but what about wage inflation the thing that would potentially drive the federal reserve to act more impressiveaggressivelya bigger fear last couple years was that fare justified in your opinion. >> i think that fear is very justified if you travel around the country, everywhere you go there are help wanted signs everywhere just astonishing what has happened to the labor in united states, and not just any kind of labor but great labor, moderate labor even lower end labor short around the country, and wage rates are going up will continuing to higher one of my real fears, at this point that we are going to have with the exception of crude oil going
8:26 am
to have commodity price increases and wage increases so i am very fareful inflation rate going to be overshot by fed, well past 2% perhaps 3 and 4% in the not too zant future. maria: wait a second you just said difficult for oil to stain gains but then you said -- >> the sustain. >> then you he said you are seeing facing and it is going to be in wages also in commodities. >> you can get you can have crowd oil prices falling, rather sharply and still have grainy prices going up grainy prices going up, copper prices going up. maria: right when you look at that then that is real worry that is in the markets last week inflation, higher interest rates, are you a seller you are a technician what do charts tell you in 2018 what should we be doing. >> i think -- on any type of strengthen today's strengthen if we got a little bit more if we moved another 200 dow points higher in next two or three days, i think it would be wise for the average
8:27 am
american who is heavily laden with stocks more than he has had in the past several years, whether you look at amount of money that moved into etfs, november, december,january they bottle at highs, i think it would be wise for them to lighten up, perhaps cut positions by, a third to a half, doesn't mean you have to get out completely but i think being less involved less long would be a very wise decision long run. >> lighten up and go where. >> to cash what is wrong with going to cash for a while cash is a wonderful instrument during periods of economic weakness i think you are going to end up seeing i should say not the economic we canness stock market weakness i think continue to have economy do quite well but during periods of stock market weakness cash is not a bad place to be, and if you don't want to have cash there are wonderful etfs wonderful short term bond funds that pay dividends on a monthly bays yield 6, 7, 8% not bad place to hide for six months to a year. maria: all right.
8:28 am
we will leave it there, good call dennis we will be watching thanks so much. >> thanks maria, thanks for having me on. >> good to see you again coming up winter olympics political traim after mainstream media praises kim jong-un's sister for quote stealing the show lornl gold medalist joins us weighing in from highlights and team usa in the olympics, back in a moment. oh, that's lovely... so graceful. the corkscrew spin, flawless... ...his signature move, the flying dutchman. poetry in motion. and there it is, the "baby bird". breathtaking. a sumo wrestler figure skating? surprising. what's not surprising? how much money heather saved by switching to geico. fifteen minutes could save you fifteen percent or more.
8:29 am
8:30 am
8:31 am
. . maria: happy monday thanks for joining us this monday morning. i'm maria bartiromo. monday, february 12 your top stories right now 8:30 a.m. on the east coast, stocks are surging this morning futures indicating a big rally the start of trading up 300 points on dow, markets are extending the recovery at end of the session friday remember, dow up better than 300 points friday but a volatile day more than 1,000 points throughout the session the dow s&p, mixed, because of the tough week, with two down days of 1,000 points or more. for the dow industrials, in europe this morning market higher across the board, take a look at markets this morning where ft 100 up a 1 and a third percent rabbing cac quarante k up 1 1/2% dax in germany up almost 2%, in asia overnight, stocks closed most higher japan was closed, in --
8:32 am
the nikkei average closed, hang seng down a fraction majors largely up, trump -- the agenda from trump administration in focus rather the when is the to unveil 200-billion-dollar infrastructure plan, part of a fiscal 201 budget part of money towards building the wall. >> asking for about 3 billion i think this year for the wall pivot on to new to reflect the the spending priorities, or spending enough to billed a whole wall most of it seeming daca gets done. >> fox business has full coverage budget infrastructure all day tune in as we wait for president comments on the infrastructure plan, and the budget, later today, hot off the factory floor fords anyone conn navigatoror so popular dealer popular deeplyships can't keep them on low the exclusive we check out hot wheels, coming up, merge
8:33 am
monday on wall street general 2006 according csra, up 32% on deal gen die dynamics trading up. >> 2018 winter olympics in south korea u.s. won gold, adding to excitement as we enter the first full week of competition, joining us right now, from south korea is 8 time olympic medal winner for speedskating apollo ono we are so happy you are here with olympics in south korea political tensions between u.s. north korea at a high seems no way to avoid politics during the game. what is the mood there kick us off with what you are seeing after first full week. >> sure, so i have pleasure of participating in opening ceremonies i have walked in, in my first opening ceremony
8:34 am
2002 incredible life-changing, about now to have it on the other side, to view and see, young athletes with old an incredible sight quieter electric, i am in coastal cluster, i do broadcasting for speed skating i am a a little bit biased i think hottest ticket in the olympic games seems to having loudest crowd he overall athletes preparing get ready u.s. continuingly on podium very, very strong. >> very, very electronic, speed skating, is obviously very strong, one of the first out of the gate what are highlights for you when you look at the games overall, i personal loved the skating the couple skating that was first thing that i watched the speed skating, is getting a lot of conversation, too right? >> yeah i think you know south
8:35 am
korea has a longstanding history with just being extremely competitive, in the winter olympic games particularly in short track speed skating we watched men win first gold a south korean athlete u.s. as athletes very close more races on way speed skating has been a pug phenomena in holland in netherlands, the long track speed skating going on right now sea of orange jackets as you see when people are watching, they have got chanting incredible sight for those don't have the opportunity to be here live, i always urge them tune in because the games are obviously only once every four years very special, and support athletes as much as possible. >> apollo, much has been made davis brought a lot of attention to speeds skating maybe good not so much controversy over coin flip who
8:36 am
would carry flag also upset in souci the olympics zarates were wearing has exposure helped speed skating made medium want to watch it even more? >> i don't know if it is given it more exposure as they say sometimes any and our is good exposure, speedskating relatively small primarily dominated by europeans long track asian countries short track i welcome more attention we get to sport it needs to grow i am a big fan hopefully we get more support not only from grassroots level but long the way, any time, we can get cameras out there long track speed skating i am happy. >> one of the things, i am curious about your opinion being in 2002 virtual reality today a lot of people saying that the global opinion, of united states, has fallen quite a bit. in the last since last
8:37 am
election, do you feel there is a different tension between united states athletes and rest of the world? still think we have positive relationships? >> well i think the olympic games quite unique i completed in 2002 salt lake city post 9/11 tensions arguably all-time high our country needed to come down unite towards one common goal and theme and team that was the olympic games i think laterally help a lot of athletes come together those watching from afar those olympics are very special to me we live in a different time now, you know, the games are held all over the world, different parts, and i think it is -- it is important for all of us to recognize the symbolism of what olympic games really is having, fair play, athletes competing one ice surface or one two-week period he in which the world has ice on a particular
8:38 am
location, and for once we can somewhat take a break, and compete in peace and unity that is is the fundamental idea set behind olympic games which is sports but also a chance for everyone to participate you know rooting for their countrymen country woman or being here, but make no mistake we live in a different time highly sensitive subjects issues that are happening, it is my belief we concentrate heavily on positive aspects what olympic games can bring, and that is what makes them smile the most. >> apollo this is mike if you are fee first of all congratulations on amazing career in olympics i notice you are wearing hershey's jacket, you know i love the sponsorship behind the athletes in olympics because we only see athletes every four years i wonder if i can tell us be sponsorship instagram or social media, if playing a big part as well? >> yeah, well, as you can see,
8:39 am
i am wearing hershey's gold bars next to me here shaez has been quintessential american company to support athletes as you he thinks m, the athletes program not subsidized by government athletes need to rely upon partnerships campaigns to thrive, also give life and excitement back into the olympic games sometimes bring a new different type of twist. so you know the great partnership with hershey's is unique every single game olympic athlete wins gold here, low is from u.s., all the americans who want to participate can also win gold as well by going to the hershey's page downloading coupon for free gold bar many initiatives utilized to create more engagement with the community. >> we are going to talk about bitcoin i know you use bitcoin; right? >> quick apollo.
8:40 am
>> yeah, i am a fan. fan of blockchain and crypto, yeah. >> thanks for joining us apollo ono from south korea we take a break frurts indicating a big rally start of trading all wild swings on wall street last week we are coming back to look, he ford revving production of lincoln navigator, weighs in on increased demand, hot rod outside the plaza we will show it to you next. ♪ it's time for the 'ultimate sleep number event' on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. and snoring? does your bed do that? right now during the ultimate sleep number event, save 50% on the ultimate limited edition bed with adjustable comfort on both sides.
8:41 am
ends soon. visit sleepnumber.com for a store near you.
8:42 am
8:43 am
maria: we are waiting on policy announcements markets higher this morning, ahead of president trump's, plan to unveil his budget plan. of course, while week last week looks we began pretty strong get to stuart varney right now host of "varney & company" with the latest is this more stimulus coming. >> good morning to you.
8:44 am
>> is more stimulus coming yes, maria. certainly is, i can't remember a time, i have to think, i have to go back a long way, to remember so much money being thrown at economy one year look down the pike, 2018 the budget contains 200 billion dollars infrastructure spending, okay not all of it is here but some is coming, we are going to get actual infrastructure plan will be 100, 150 billion dollars, 2018, wages are going up at fastest pays many years paycheck rising because of tax cuts we've got bonuses still coming on stream, u-haul the latest, 1200 dollars per person. add it up we are chucked money into an economy that is already growing 3%. okay maybe you get 4% but what you will certainly get is higher interest rates, and a whopping great big deficit i can't remember a final when
8:45 am
sometime latest quite like this. >> are you pulling back support of tax plan stuff there are you changing mind on things because of all spending is that what i am hearing. maria: . >> in a way yes, you put right question in a way ge i got to be worried about a trillion-dollar deficit when the economy is growing 3%. what is what is the devil is going on here, it is irresponsible basically that is what it is. >> we will talk about it you sound a lot like dagen mcdowell. dagen: stuart is frugal careful i would hope would you feel this way about it. >> thank you i am cheap by any other name. >> see you, "varney & company" top of the hour right at after "mornings with maria" join stuart next 15 minutes futures, showing up a big gain start of trading up 300 points right now, nicole petallides on floor of the new york stock exchange good morning to you good morning, maria. obviously we knew volatility was here to stay over the last couple of weeks what we have seen gyrations in market last
8:46 am
week sell-off over 5% obviously a big one, and then now today, turning it around, this after at the withdrew over 30 billion dollars, from the equity funds what are traders saying this morning? well, over this morning, saying goldman sachs pullback coincided with blackout period for share repurchases likely intensified the decline morgan stanley saying price damage done time to buy stocks. taking a look at one of the movers this morning, and that is general dynamics 6. 8 billion dollars to beef up i.t. department both stocks cfra, up 31% this morning, general dynamics hair making this to beef up at this time department when you think of general dynamics tanks navy ships big deal the previous couple quarts tough in part no fram budget in place but they
8:47 am
are saying good synergy between two up 15%, over 52 weeks general dynamics up 1.6% coming up ford revvs up investment executive vice president global operations reveals the company plans for its ken you think for its kentucky plant check out maria with a very cool shot. ♪ ♪ vers. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com [fbi agent] you're a brave man, your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv.
8:48 am
you must become invisible. [hero] i'll take my chances.
8:49 am
8:50 am
retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. baby i can drive my car yes, i am gonna be a star, baby you can zri my car, cause baby i
8:51 am
love you ♪ ♪ maria: welcome back we are coming live outside headquarters on plaza right now with the north in an truck of the year ford betting big on america pouring additional 25 million dollars into louisville ken you thitucky ken plant over two billion dollars since 2014 a exclusive executive vice president global operations joe hinrichs good to see you. >> thanks for joining us, starting to rain. maria: doing business in kentucky big investment that you have done. >> yee great to us over 13,000 employees louisville, kentucky truck plant expedition. >> a lincoln navigatoror launched last year, and actually january -- >> let me go here. >> january seven days sale lasts seven days.
8:52 am
>> seven days on the lot. >> so we can't build enough going to increase production over 25%. >> gorgeous. >> beautiful. >> a regular ipad. >> you touch, touchscreen i can see. >> loading maps. >> everything else. >> tell me more. >> you know people are buying more suvs large suvs we want to be able to give navigator more production produce more a great to take on competitors. >> why buying more surfer you think as oil goes higher gasoline people will feel he expensive. >> big more expensive. >> cross line a lot more in vehicles utilitarian nature fuel prices low down 2.50 a gallon opting larger vehicles brest efficiencies. >> this is the truck you get in here feel you are in the luxury. >> that is right, a high end luxury vehicle, and drives
8:53 am
because takes we the out drives more efficiently better fuel economy than previous version you are on heated seats, all connectivity, and you know adaptive cruise control. >> no the autonomous feature but -- >> -- cruise control you want to drive but cruise control highway will slow down, on its own, but this is really about hauling taking people around, and enjoying what life can give you luxury. >> it is big. >> it is big, but a lot now aluminum body more weight -- more fuel efficiencies. >> aluminum body why is that that important. >> takes weight out aluminum weighs less than steel gives more efficiently driving dynamics lighter a 450 horsepower. >> how much is this. >> it goes from 70 to 90,000,
8:54 am
and monday of january averaging almost a high 80,000 range because of the content of this high end series going well. >> interesting that you can't keep it on a lot night is, well a great new product expedition navigator new people began this lyrics about capability in suv. >> the kentucky plant all investment what does that extra 27 million going to do. >> 00 million last year. >> -- 900 million last year. >> data analytics, printing new advanced technology to produce more leverage brains of workforce down there to solve problems find ways to make more with same amount of people. >> interesting, because i was talking to someone the other day said, you can you can leave on floor in car shop no grease exciting technology. maria: what can i do in my xar. >> stay connected drive safely talk to people text through
8:55 am
voice commands big deal texting a big problem as you know in driving all safety features, this car, has you know cruise control senses when you are post collision precharge brakes sees something before you see it technology making it assessor more enjoyable to drive. >> also, i mean, with all the tech in my car, do i have to worry about issues in terms of getting hacked in terms of -- what -- >> what we do, big deal maria what we do we don't allow access to controls through connectivity over the air stuff comes through the system doesn't have access to power train control that is people are worried about. maria: i see. >> so that is a big deal, privacy and -- you know, being about able to protect security from hackers a big deal to us. >> i am putting back on phone this is really cool, in here is gourmgrgeous in terms of outside what do you want to tell us.
8:56 am
>> the new -- >> sky link front end probably most important thing. >> beautiful. >> you can see, the stance the presence it has, this happens to be, you know one of ours that we use to get people test drives. >> in the back here. >> we have will you be galuggag back. >> you see luggage in the back. >> -- really. >> so you can get seven people in it, and, obviously -- go around to the new lincoln front end on here come around here -- this is new face of lincoln. >> nice. >> strong presence lights up at night, lights up at night. >> cool. >> pretty cool you can see strong presence in the styling, you know this kind of vehicle wants a parens on the road. >> it does it does, beautiful good stuff glad you brought it on in an truck of the year. >> north american truck of the year turning on seven days in
8:57 am
lot a great story more work for our people in kentucky. >> sure is, the trump tax plan encourage you to spend more money in terms of -- >> we believe whole tax reform is good for american business certainly for ford infrastructure discussions, very big for ford we dominate trucks, so -- >> good to see you. >> thanks so much. >> we will be right back. stay with us. ♪ ♪ i say -- ♪ you build and run apps anywhere you like, while keeping your competitors at bay. the ibm cloud. the cloud for smarter business.
8:58 am
8:59 am
9:00 am
>> brand spanking new newsroom at fox news. thanks for joining us, everybody. my fantastic panel upstairs. have a great day. here's "varney & company" and stuart. stuart: thank you very much, indeed. the news. stocks will open higher this monday morning. analysis, be careful. the wild ups and downs may not be over. after two extraordinary weeks, we all want to know how we will open today. the answer is up. now, just ten minutes ago, i would have said we'll be up 300 points. now i'm going to say it will be more like 200. that will still put the dow above 24,000, roughly 2,000 points below january's high. again, we always have to caution we don't know whether dow will close up this afternoon. how will respond to all the cash that's being

119 Views

info Stream Only

Uploaded by TV Archive on