tv Mornings With Maria Bartiromo FOX Business May 18, 2018 6:00am-9:00am EDT
trade worries weighed on investors once again. dow industrials gave up 55 points, quarter percent lower as well as the nasdaq down quarter of a percent. global market this is morning, check out europe, mixed story, ftse 100 pulling back, cac request rant is up 15 and dax in germany up fractionally as well. in asia overnight, gain as cross the board, take a look, best performer was china, tough talk on trade, china is denying reports that it has agreed to $20 billion in concessions. that's part of yesterday's negotiations with the white house. president trump calling out china, saying that the country has been spoiled by its relationship with the united states. >> calling people animals is not a good thing. >> when ms-13 and other gang members, i refer today them as animals and guess what, i always will. maria: take a look on where things stand on that, nafta, representatives, we are nowhere
near a deal, soft deadline today. raining ash, volcano erupting shooting plume of smoke 30,000 feet into the air. we will take you to hawaii with the latest there. house minority leader nancy pelosi at it again, this time she's defending gang members says that ms-13 are actually not animals, you just heard that a minute ago on the sound bite, the backlash coming up this morning. elon musk is shifting his focus under ground, the tesla ceo reveals new details on plan to dig tunnels in los angeles to help traffic. and then this time tomorrow wedding bells will be ringing, final preparations underway for the wedding of prince harry and megyn markle and now we know who will walk markle down the aisle. joining know talk about dagen mcdowell, mitch roschelle and the president of maslansky + partners lee carter.
lee: happy friday. >> spoiler alert. it's not me. [laughter] dagen: i know who it is. lee: you do? dagen: i'm keeping my mouth shut like i have some back phone to the palace in london. lee: you do know how to drink tea. dagen: i lived in england and i wish we would stop acting like americans landed on mars, like we just discovered britain, oh, my god, pubs, what is a pub? [laughter] dagen: all of the coverage has been like that. i will not say anything else negative about the royal wedding but, again, the way the coverage is kind of framed it's like oh, my god, there's the thing as the atlantic ocean and we can fly across it to the wonderful land of tea. maria: a lot of coverage about this royal wedding, for sure. for sure. we will have a lot to talk about in the business side, top
stories trade tensions with china, beijing is denying that it offer today cut trade surplus with the united states by $200 billion, we know the trade surplus is at 375 billion, this coming at the president promise today finally stand up to china by working toward a fair-trade deal for the u.s. >> the united states has been ripped off for many, many years by its bad trade deals, i don't blame china, i blame the leadership of this country from the past. we have been ripped off by china and evacuation of wealth like no country has ever seen before. maria: joining us right now global economic's editor jon hilsenrath, jon, good to see you. >> great to be here. maria: question become ifs china is going to buy $200 billion more in soybeans and agriculture, natural gas and oil, what is the u.s. giving up, what do you make of these developments? >> well, you know, it looks like when you look at china and also north korea, you know, we are at this point in these negotiations
where it looks like there's friction between both sides, you know, one day you get some evidence that they are moving towards some kind of agreement, the next day you get some evidence that they can't overcome their differences. today is can't overcome their differences moment. maria: we haven't heard a lot about the meeting in beijing and the meeting with the vice prime -- premier. and now china is saying we are not agree to go it. dagen: that's part of the trade negotiation but i would say that any end fighting among the trade advisers and the economic leaders within the white house, not helpful. we kind of knew when the delegation was in beijing, when they left and said nothing, you knew like we just know instinctively in our gut, just no -- understanding human beings that there was problems. we talked about it in great deal
on the show will be the chinese demand of lifting the sanctions on the telecom giant zte, the language out of the white house has seem today back off of it a bit, they are more saying, we will look at it. i think that you do need to quote secretary wilbur ross to separate the two. if you're going to the negotiating table with north korea, you just pulled out of iran deal, you need to remain firm on sanctions and this is punishment to zte, it's punishment for selling u.s. technology to iran and north korea to name a few countries but it's also then not punishing their employees that was the fine and the punishment on zte for doing that very thing. those need to remain separate. china wants to use it. maria: what's done is done with zte, he's not going to change stance on zte but china wants this whole idea of the 301
national security issue off the table, jon, and are we giving in to, you know, these push by china to get one of the only leverage pieces off the table when -- when the china is just saying that they are going to buy $200 billion of more goods, might look good on paper but you are giving up a great deal if you get out of national security issues. >> i think the other really important issue, 200 billion-dollar number that we keep talking about, you know, what i wonder and what we hit at in a story in the wall street journal is whether we are setting ourselves up for failure by coming up with some kind of agreement that the chinese are going to buy $200 billion worth of goods and services from the u.s. exports to china as it stands right now are around 200 billion, so we would have to double basically, double capacity to export to china, you know, our biggest exports right now are things like aircraft, soybeans, you know, we have
liquefied natural gas, take aircraft, there's a few billion dollars a year from boeing in sales, you know, in order to get to 200 billion we would have to massively ramp up ability to send planes over there and they've already got a 7-year backlog at boeing, the 200 billion-dollar number is a tough target to reach. i don't know if we are setting ourselves up for failure. maria: exactly, as you just referenced, trade experts are telling american farmers won't be able to produce to cut deficit with china by $20 billion, your thoughts, mitch. >> what i'm trying to figure out in the rock-paper-scissors game, what's the most important thing, things you can live with and things you can't live with, a good headline number, $20 billion worth of stuff, is intellectual property the most important thing, what is really the most important thing?
maria: that's the most important thing. you give up on national security, you give up on threat this we are not going to allow this because of the intellectual property theft, you gave up everything. >> we are becoming a service's economy, as a matter of fact we have a trade surplus with the world as it relates to services and we are not really a goods-making economy, intellectual property is very important to future of trade and not only with china. is-- are they going to make thaa center piece, jon? >> in terms of american priorities are we focused on principles or targets, you know, targets is you've got something like 20 billion-dollar number, 375 trade deficit with china is too much and we have to shrink it. that's one thing. it's potentially hard to reach those targets, principles is the other issues that we are talking about. the chinese stealing intellectual property, we are not going to allow to happen
anymore, they put barriers in auto sector, we won't allow that to happen anymore. it seems like they have allowed the negotiations to get caught up in this target issue and what we really need to focus on is the principles, what are we going to stand for. maria: nothing in 20 billion-dollar deal that addresses that at all. you said this from the beginning that the trade deficit is not the most important issue here and this is something that the president has focused on but we've seen economic growth with trade deficits. dagen: the trade deficit is not a debt to china, by the way, we can shrink the trade deficit if we buy less from china quite frankly, trade is so complicated this you can't message it on twitter and so the 200 billion-dollar concession from china which was the president's demand, that's why, again, he likes a big round number rather than getting into the nitty gritty, telling china you will not steal intellectual property anymore, we will not
let you essentially steal from u.s. companies and put our national security at risk which is again when you put zte on the table, we have to wait to see what comes out of that but you do open up the united states to espionage, even greater espionage by china. maria: they have been stealing through espionage for decades. that's on the table here. china is not addressing this. we have to get to nafta hanging in the balance. robert lighthouser released statement reading in part, nafta countries are nowhere near close to a deal. they are gaping differences on intellectual property, agriculture market access, levels, energy, labor rules of origin, geopolitical indications and much more. the statement came after comments from canadian prime minister justin trudeau when he sat down with our own fox's susan lee, watch this. >> it's right down to sort of the last conversation, so i'm feeling positive about this but it won't be done until it's done. one of the key-sticking points
for méxico and for us, but -- is the idea of sunset clause, there's a good deal on the table. maria: jon, your reaction because today and yesterday was the soft deadline that the trump administration put in place, they wanted a deal done by the end of this week so that gives congress enough time to get it done before the méxico elections and the midterms here in the u.s. jon: i don't see how you're going to get anything through congress with midterms coming up even if they had gotten it done this week, you know, this is kind of not a ripe environment for getting a controversial deal through congress and as you say you have mexican elections coming up. this is the kind of thing that could drag on for, you know, weeks or more before we get anything done. there was this idea that they might carve out just the auto sector and try to do a skinny deal that didn't have to get through congress, but, you know, the other thing i would say is that you tend to get a lot of this back and forth very late in
negotiations where it looks like everything is falling apart and then it comes back together, you tend to get this kind of brink'smanship but doesn't look like we are close to the point where everyone is at the same point and come forward with the deal. maria: we will see how the markets will react. expectations that something would get done, like you said, a skinny deal. maybe some agreement on origination, vehicles produced largely in north america, if they can't get to that right now, are you expecting a market reaction here? dagen: they'll be a market reaction if you start getting waves from president trump that he will pull out of the deal. maria: for sure. dagen: he would have a tendency to do that if he feel like the lighthizer and trade negotiations are not doing this with speed and i know that it's extremely complicated but if you start hearing that from president trump like either you get this done or we are pulling out of it, that is a huge danger. >> the markets are going with
status quo. it's their view and status quo on nafta. lee: i think the american people will get frustrating. it'll be interesting who they blame, if they blame congress establishment, the establishment is going to be in trouble in midterms. dagen: you know who is frustrated right now because of the steel, aluminum tariffs, our farmers r the manufacturers in this country because, again, a lot of this is still up in the air, it's disrupting business, it's creating anxiety where there wasn't any six months ago. so, again, be careful what you say and be careful what you promise. maria: jon hilsenrath, have a good weekend. thank you, jon. explosive eruption in hawaii, fallout for residents after kilauea's volcano shoots up. elon musk, how much it would cost you to drive in the
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island being warned to take shelter, toxics gas levels have closed schools and handing out masks. geologists say it was small but first of series of major explosions for this volcano. well, cbs is nursing a black eye after first loss against sherry redstone, shareholder, the court rejected to dissolve redstone's control over the company. cbs is trying to stop redstone's plan. cbs canceled shareholders meeting, executives more time to figure out the next step here. shares of both companies falling yesterday for the year cbs is down almost 9%, for the year viacom is down 8%. twists and turns in the story. paypal shelling out big bucks to buy a start-up, acquiring the
swedish point of purchase tech firm, $2.2 billion deal and paypal access to half a million small businesses around the world that use to process customer transactions and payments, of course, with credit cards, paypal going up against jack dorsey square service system. and it wouldn't be headlines, maria, without a royal wedding story for you. here you go. prince charles is going to be walking meghan markle down the aisle tomorrow when she marries prince harry. her father, of course, unable to attend wedding due to heart surgery. so we thought it was going to be her mom but prince charles has stepped up, maria. so big day tomorrow. maria: right, thank you so much, cheryl. [laughter]
dagen: lovely gesture. maria: yes, it is. dagen: the royal family needs to give megyn markle better guidance, her family better guidance, it's about managing the message and that also includes managing family members in the states. lee: seems hard to manage family members. maria: markets are looking to end the week in positive note, we will talk with ted next, market outlook how he is allocating capital. elon musk, revealing plans for high-speed tunnel underneath los angeles, how much it'll cost you for ride on the rail service, back in a minute right here.
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maria: welcome back markets look to end the week on strong note, dow industrials to open 820 points. joining us chief investment officer ted, largest fund of roughly with $385 billion. >> maria, thank you so much for having me. maria: lots to talk about and what you're doing right now. what's your take on the investment environment right now, the markets? >> well, the markets are robust in many ways, the economy is surging here in the u.s. up to 3% growth rate in the first half of the year from long-grinding recovery of 2 and a quarter percent. other global economies are moving up as well, europe, asia.
in addition, earning season has been hugely strong. maria: which is why you have 50% of money in stock. >> yes. maria: shifting strategy to launch private equity funds. >> that's right. as long-term investor we are looking at the future. we have a very strong equity portfolio as you said and now we are looking at how can we increase and grow at scale our private holdings of portfolio companies, we are announcing two new vehicle that is we are exploring to do just that, to invest over the very long term in private companies in addition to the other strategies we have in our portfolio. >> ted, like a privet equity model where you will have direct investment in portfolio companies? >> that's exactly it. two vehicles to invest directly into portfolio companies and we are going to own them for long period of time, evergreen structures to invest in
particular sectors of the economy, one vehicle will target innovation, technology, science and health care sectors, the other will target main economy, industrial and consumer sectors and own those companies for long periods of time. dagen: ted, why do this now? are the valuations on private holdings on private companies better than those that are publicly traded? >> no, valuations are elevated across, across asset classes generally. we are a long-term investor, we are looking out how to invest over the next 10, 20, literally 60 years, this is actually a good time for us to review our structure, business models and set up a vehicle for private investing that really is looking out 10, 20, 30, 40 years from now that we haven't had that ability to do in the past. lee: despite all the growth in the market, a lot of individual investors, we have seen study that is say they are still
nervous, they are afraid that retirement savings are going to go away, should they be? >> well, we are always concerned, we are always nervous. there are things to worry about going forward, interest rates are moving, inflation, while we haven't seen any signs of it lately, that's a concern on the -- on the horizon. trade negotiations, we are seeing growth slow in europe a bit. so there's always -- there's always considerations to take in account when you see valuations at these levels, but the main thing for calpers and individuals, think of asset oh allocation as a whole and to stay true to strategy and diversify your assets through all of the cycles. maria: does your investment in private equity and the innovation that you were talking about, some of the new industries like robotics and autonomous, does that change the scope of investing in the stock side?
so tell us how you allocate your money in stocks, is it etf's, individual companies? >> it's individual companies, we own broadly-based index that we invest internally, we are able to invest in the stock market for a basis point or two. maria: does that change now you are putting some of the money in technology companies? >> it's a great question. so this -- this new vehicle allows us to manage our entire equity portfolio from a risk standpoint as one, so what it really does for our private equity exposures we can take much more con traited positions because we can offset these large concentrated investments in private companies through our equity portfolio, public portfolio. dagen: in terms of bonds, particularly treasuries, are we at the beginning of treasury market, is this going to be a multidecade rise in longer-term interest rates and decline in the prices, again, we have been enjoyed more than 30 years of a bond's bull market? >> we have seen the 30-year
decline. i don't know that we will see a 30-year, you know, rise, but we anticipate increases an interest rates coming forward in the knee future. maria: do you think the fed overshoots or are you comfortable with comfortable with 3 or 4 rate hikes total? >> we are convinced like others of 3 to 4 rate hikes. i don't think they will overshoot and will be very moderate in their approach going forward. maria: ted, you announced this week that you will be stepping down? >> i did after a long career at calpersi will be stepping down. i worked too hard too much of my professional career to let this transition affect any of our business, for family reason we will be moving to new york to be
close to my daughters. maria: fantastic, congress -- congratulations. coming up nancy pelosi steps in it again, this time she's defending violent ms-13 gang members saying they are not animals at all. burn, baby burn, if you ordered flame thrower from elon company, musk delivery up next back in a minute it's time for sleep nu .. to your ideal comfort, your sleep number setting. does your bed do that? it's the lowest price ever on the queen c4 mattress, only $1099 - save $500. ends soon.
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maria: thank you for joining us, i am maria bartiroma and it is 6:32 on the east coast, market looking higher to end on a strong note, dow industrials 80 points, one third of 1% higher, nasdaq opening at a quarter at a 12:45% higher. the major indices edged lower as trade worries returned, the dow is down 55, nasdaq down 15, global markets mixed, take a look at european indices, s&p down 12 points but the cac quarante in paris in positive territory, it is flat basically in the dax down by 5 points, asia gains across the board, china, shanghai composite up
11/4%. dear is under pressure after reporting earnings this hour, down 31/4%. house minority leader nancy pelosi at it again defending gained members saying if they are not animals and the president fighting back. >> calling people animals is not a good thing. >> the ms 13 gang members come into our country i refer to them as animals and guess what, i always will. maria: the backlash straightahead. elon musk shifting focus underground, the tesla ceo reveals details on his plans to dig tunnels in los angeles to help with the traffic. box office battle, deadpool will take the top spot but ruth bader ginsburg is working her way up the rankings, the story later this hour. our top story right now, the white house doubling down on
notoriously brutal ms 13 gang members calling the animals. numerous media outlets took the comments out of context to suggest he was referring to all illegal immigrants. house minority leader nancy pelosi and white house press secretary sarah sanders squared off over the pres.'s comments. >> another manifestation of why their policies are so inhumane, calling people animals is not a good thing. this is one of the most vicious and deadly gangs that operate by the motto of rape, control and kill. of the media and liberals want to defend them they are more than welcome to. i don't think the term the pres. used was strong enough. maria: former trump campaign director and look ahead america executive director along with former hillary clinton presidential campaign director of strategic communications,
pres. and democratic strategist adrian elrod. what is your take on this. nancy pelosi likes to muddy the waters and confuse everybody but we know the pres. was talking about ms 13 members, she did not think there animals? >> there was confusion when the president talked about immigrants whether he was talking about illegal immigrants trying to cross the border or ms 13 gang members, the whole situation has become what it is. nancy pelosi is trying to restore civility to the conversation by saying human beings are not animals but i agree these ms 13 gang members are awful people. she is trying to restore a little civility to the conversation. maria: i don't think people were confused. the media jumped on it, john horowitz's tweet from cnbc he knew what the pres. was talking
about and he said ms 13 gang members are humans too and not animals. let's see that. >> the effort to muddy the waters when she said the attack was crumbs. republicans -- ms 13 gang members are human beings in my humble opinion, they are people too. >> what she is trying to do is restore a little civility to the conversation. the president of the united states, she think he should not be calling any human being an animal. >> tell that to the families of the people who have been murdered by ms 13 gang members. >> i have no more reaction on this topic.
maria: your thoughts. >> the democrat party and the left leadership have been silent partners of ms 13 for decades. between open borders or catch and release, aiding and abetting the growth of ms 13 in this country but haven't admitted it and nancy pelosi has on that and my fellow guest is doing her best to spin a horrible mistake. that clip will play coast-to-coast in republican campaign ads through election day. she is the gift that keeps on giving. i can't be more grateful she admitted in public a long-standing democratic policy. >> that is completely irresponsible of you to say democrats have been silent partners of ms 13. >> prove that they aren't, they have done everything they could to help them. >> we are not doing anything to help gang members. >> century cities? maria: she just defended the
men's president -- >> i'm not defending ms 13. what i was trying to say is leader pelosi is trying to restore said balloons of civility to the conversation. maria: what civility are you talking about as relates to ms 13? >> i'm repeating her words where she said they are not animals. >> you agree with that? >> the allegation democrats are somehow responsible for ms 13 gang's is absolutely -- maria: who was responsible for open borders and allowing people to come in we don't know and not tracking? >> democrats make clear we will come to the table and work with republicans on a comprehensive immigration plan. maria: about they haven't. >> democrats aren't in charge. republicans are in charge of the house, senate and white house right now. >> that is not -- >> to the senate. even though you say republicans are in charge democrats have been stopping a lot.
>> we will compromise on border security. >> there shouldn't be a compromise, build a wall, keep them out. >> we disagree on that. maria: another top story, clinton's countdown, the watchdog report on the fbi and the permit of justice extended investigation to hillary clinton during the presidential campaign. that is expected to be released in the near future. this ig report is expected to be important in terms of how the fbi and doj handled hillary clinton's email investigation. >> there have been a lot of questions because hillary clinton and her team have gotten a soft glove treatment where others have not been thrown in prison for the same thing but that is the past. moving forward this ig report is going to target a lot of people who currently involve
the mueller investigation and something to keep an eye on his this report has not been released yet. all the people targeted, investigated by it, have a copy of the report and expect them to start maneuvering and leaking things to the media. we can read the smoke signals and establish a good idea how bad this report is. maria: what is your take on what we know has been a mess abuse of power at the top of the fbi and the doj during the 2016 election? >> i said this last time i was on your show. many of us in the campaign and americans across the country believe one of the reasons we lost this election is james comey's decision to reopen the investigation into her email 12 days before the election, a lot of confusion and a lot of transparency is why he was doing so initially. i'm looking forward to seeing
the report. we all are, let's knit this in the bud. difficult to speculate in terms of what is in the reported to we see it. maria: if this thing in the bud, it has been a year they have try to get documents from the fbi and the doj and they are stonewalling them. the pressure probe out, federal prosecutors connecting special counsel robert mueller released an unredacted copy of atty. gen. rod rosenstein's memo that defines the russia investigation. mueller has been going everywhere and congress wants to know specifically what is the scope, donald trump's attorney weighed in on the possibility of a presidential hearing for special counsel robert mueller to sean hannity last night. >> you know the president as well as i do and the pres. has great desire to tell the truth if he gets a fair hearing. our job is to make sure he gets a fair hearing, jane and marty and me, our job is to make sure
he gets a fair hearing from mueller. we are not convinced he will. maria: your take adrian? >> this constant disparagement people on the far right are trying to do to robert mueller is extremely dangerous, extremely difficult. maria: what is to disparage, asking for a fair shot? >> there is no reason he shouldn't get a fair shot. he's throwing out the notion that if he chooses to testify may not get a fair shot is ludicrous. maria: if the same people were overseeing both investigations of the so-called narrative of trump collusion with russia and the hillary clinton investigation and we know the investigation was handled with white gloves and we don't have evidence of collusion he hasn't gotten a fair shake. why would we expect a fair shake now? >> we have a disagreement on that. robert mueller -- maria: what are you disagreeing with? >> a few times by the senate by democrats and republicans, he is a registered republican,
somebody -- led the fbi. what does mitt romney have to do with it? led the fbi with utmost integrity when he was fbi director, conducted this investigation with transparency. maria: i don't think there are any republicans on a special counsel's team. it is pretty much some of them are actually clinton donors. they have given money to the clintons over the years and are on the special counsel's team. >> this is starting to shape up like robert mueller's investigation to anthrax which drag on 10 years, never found the guilty party and prosecuted a bunch of innocent patriotic americans. the fact the scope document is even classified is like a soviet era prosecution. why wouldn't it be public to know what the scope of his job is in the investigation is? so transparent, clearly this guy is out for blood.
rudy giuliani is doing his job for the pres. fighting to do the best he can as an attorney for his clients. there is no reason for this to be classified as secret. who knows what is in it because the judge will read it, they have a right to prosecute with the broad scope. >> really good point. why is the scope memo classified? that does sound ridiculous. thanks for joining us. we appreciate it very much. hitch a ride on the loop, how much it will cost you to skip traffic underneath los angeles on elon musk's high-speed rail service. deadpool is back, marvel's trash talking superhero returning in time for the weekend box office. we have the preview next.
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maria: elon musk has a way to solve traffic problems in los angeles and offered new details. >> reporter: we are getting details on elon musk's vision. musk and fellow boring company executive steve davis offering more details on the loop which would feature all electric pods to transfer 16 passengers at a time. going to lax in eight minutes for a buck, sounds good, right? but the executive spent most of the time in their presentation reassuring the public that the plan disrupt the existing highway systems. musk was late for the event because he got stuck in traffic and in typical fashion had a few notes before the audience saying traffic is soul destroying, a problem flying cars can't solve and tunnels are better than flying cars.
the boring company is building a 2.7 mile test tunnel on private property. one problem, building the total requires the company to remove the dirt from the site, turning this into bricks and elon musk says they are really wonderful because they are smooth. i don't know. he wants to give them a way to build housing for low income people. maria: will it be profitable? >> there is the plane service. maria: what is the update? >> reporter: two weeks, $500, they will deliver it in boring company vans. there is a lot of promise and a lot of hype and sometimes you got to wonder about elon. the things he says in public meetings like this traffic is
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>> a sneak peak at deadpool. and ryan reynolds returns as the foulmouthed superhero. michael camaro. >> a millennial mullet, clarification of what that is. maria: how is it? >> fantastic. the first one was an unexpected hit made for $30 million and grossed hundreds of millions of dollars, and irreverent take on the superhero franchise. this is the widest release ever for an all rated -- r rated movie, 4300 theaters, the biggest release ever. looks to pull in 122 $150 million.
finally a movie that could replace the avengers, it is better if not on par of the original movie. it is a passion project and it shows. maria: you said it cost $30 million but deadpool made $132 million on opening weekend. will deadpool make less? >> it will pull in more because people know what it is. the highest fan anticipation going into this compared to everything else out there, $130 million. maria: the new film rbd, the life and career of supreme court justice ruth bader ginsburg. >> i became a lawyer when women were not wanted by the legal profession. thousands of state and federal laws discriminated on the basis
of gender. >> following in the footsteps of the battle for racial equality. she wanted equal protection for women. >> all persons of equal dignity before the law. maria: interesting to see a documentary hitting the box office. it took attends slot this past weekend. documentaries. >> the records at the box office, the notorious rbd to those on the left as scalia is to those of us on the right, people are passionate about her and i got to say it is a tea leaf going into the midterms. a lot of passion on the left and republicans need to wake up and see what is going on in this is one more indication the left is fired up. maria: you are right about the
enthusiasm around her equivalent to scalia on the right but you usually don't see a documentary take such a high spot in the midst of deadpool. >> she is an adventure for the left. maria: it shows the enthusiasm on the left. >> going into political season. maria: as we go to break
take a look at the tweet from the pres. fake news media had me calling immigrants or illegal immigrants animals, wrong. begrudgingly forced withdraw their stories. i referred to ms 13 gang members as animals, big difference and so true, fake news got it purposely wrong as usual. we told you the story earlier before this, stay with us, we will be right back. a bulb of aha ha ha! a flying machine? impossible! a personal' computer?! ha! smart neighborhoods running on a microgrid. a stadium powered with solar. a hospital that doesn't lose power.
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the only way to know if you have hep c is to ask your healthcare provider for the simple blood test. if you have hep c, it can be cured. for us, it's time to get tested. it's the only way to know for sure. >> maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, may 18th. your top stories right now, 7:0. markets looking to end the week on a strong note. dow industrials set to open up 70 points this morning. this after declines yesterday. the major indices edged lower yesterday as trade worries returned to investors' minds. the nasdaq was down a quarter of a percent. global markets this morning are mixed, fq100 is down 8 points, the cac and dax index up a few points. in asia overnight, gains across
the board. china was the best performer. tough talk once again on trade, china is denying reports this morning that it has agreed to cut the surplus that it has with the u.s. by $200 billion, that will make $200 billion in concessions as part of yesterday's negotiation was the white house. a two front battle on capitol hill. house republicans are divided on immigration and the farm bill. >> if we're going to advance immigration legislation, let's add once one that will get a presidential signature. >> we've been talking about immigration forever. it is time that we make some decisions and even if i'm not happy with that decision, let's go ahead and get immigration dealt with. >> maria: i'll speak with congressman ron de santis coming up. nancy pelosi is as it again, this time she's defending violent gang members saying no,
they're not animals and the president tweeted about it this morning. his reaction to her, coming up a breakthrough for those who suffer from migraine headaches, the fda approved a new medication to prevent the crippling headaches, that's coming up. a viral meme takes it to the white house, staffers take on the yanny versus laurel challenge, plus a surprise from president trump. all those stories coming up. joining me, dagen mcdowell and mitch rochell as well as lee carter. great to see you. >> standing firmly with laurel. >> it's laurel. >> it is laurel. >> dagen: in terms of language, i want to point out that liberal leaders in this country and their mouthpieces, their mega phones like the new york times just assume they could write a headline and say president trump
called immigrants animals and it's a lie. it is a lie over and over again, chuck schumer and nancy pelosi. that's not what he said. if anybody bothered to look at it, he was referring to ms-13 gang members that mutilate people, that stab and behead people, that murder teenagers in this country and prey on the very immigrant communities that the liberals say they want to protect. it is disgraceful. you know what, they are animals. they're not human beings. for somebody like john harwood to say that, i hope the republicans run commercial after commercial because that's what they care about more than the american people. that's what they care about more than law-abiding citizens and immigrants who live in this country. >> maria: i pushed back on this issue. they said nancy pelosi is trying to put civility back in the
conversation. >> dagen: it's one thing to talk about the tax cuts, 83% go to the top 1%. lie. now she's lying about what the president said. shame on you. >> maria: the american people understand this. i think that's why we're not seeing the blue wave expectation that a lot of people thought going into the mid-term elections. too many lies. >> it's way too many lies. it it comes down to they're willing to use harsher language talking about trump supporters than they are talking about gang members. that's a problem. people kno know it. they nose a disdane for them. it's not going to work for them unless they turn things around and get a real message that's focused on the american people. >> dagen: they hate president trump more than they hate brutal animals who murder innocent people. >> maria: it's outrageous.
meanwhile, the republicans and the administration dealing with trade tensions with china. beijing this morning is denying reports that it has offered to reduce the trade surplus with the united states by $200 billion. yesterday, president trump weighed in on his strategy to negotiate a better trade deal as a new round of talks with chinese officials kicked off in washington. watch. >> trade has been a total one-way street, right outside of this nation, you take money out like it's by the buck h bucket , whether the european union, which you know so well, whether it's japan or south korea or i could name almost every single condition trcountry in the worl. we had nobody representing us and now you have somebody that's very good at this stuff, me, representing us. >> maria: law makers are looking
to advance legislation that would give the united states more power to block deals between american and chinese companies over national security concerns. joining us now is house foreign affairs committee member, congressman ron de santis. thank you for joining us. >> good morning. >> maria: what i've been zeroing in on these last 24 hours is if the chinese want to cut the surplus by $200 billion, what is the u.s. giving up in order to get that? >> i think we'll have to see. i know there's been a lot of talk about the zte company and clearly that that is an economic issue but it is also, without question, a security issue. i just have confidence in president trump. i mean, if there's ever been one political figure certainly a president who has been tough on commichina, not just since he'sn a candidate and been president, but for years and years, it's
him. i think he's looking to drive a good bargain for the united states. i don't want to say well, he shouldn't do this, shouldn't do that. i think he's looking at a bigger picture here. i want to give him runway to try to negotiate a good deal for the country. >> maria: republicans are facing off on the farm bill. they are threatening to tank the farm bill unless gop leaders tee up a vote on immigration first. paul ryan weighed in yesterday. listen to this. >> i think the vast majority of our members believe that we should have a vote on immigration before we have a vote on the farm bill. >> we want to see if we can do our own immigration bill. we've been laboring to get 218. we don't have 21 218 for a specc bill. members are trying to figure out how they can get their version
of what they think should happen to the floor. >> maria: is the vote on the farm bill still scheduled for this morning. >> i'm not sure the latest. i will say this. if there is one issue that was donald trump's signature issue it was securing our borders, bringing our legal immigration system into accordance with the rule of law, ending things like chain migration. here we are almost a year and-a-half since he's been sworn in as president and you know how many votes we'll have about the border wall, about ending chain migration, about these key planks in his platform? zero. not one. and here's the thing. i think the southern border wall at this point -- ten years ago maybe it's more of a border thing for the border states. if you look at what's happening at the southern border with the fence and all and this poison that's being driven into our country that's fueling the opioid crisis, i think members all across the country have an interest in securing this border. so how it relates to the farm
bill, i'm not sure how that's going to play out. but i would say we've got to get here and deliver on the president's priorities with respect to border security and oh, by the way, maria, people talked about how are you going to pay for it? there's been bills put in like the el chapo act that would take the profits from drug king pins that get convicted and apply it to the border wall. that's billions of dollars. the ideas there. i think the bills are there. we've got to actually have votes on it. and guess what? if the democrats are going to vote against these things and chill for ms-13 p while the generic ballot numbers you're talking about in the midterms, that blue wave is going to totally stop. >> maria: that was pretty incredible that nanc nancy pelos defending ms-13. this is outrageous this morning. let me ask you this. the i.g. report, now we understand that it is now in the hands of congress. have you seen the i.g. report?
what are you expecting from the i.g. report? we understand it's in a two week review period at the department of justice and there could be violations of federal criminal laws in the fbi and the doj report. >> i have not seen it yet. i'm actively seeing if it's been delivered to the congress yet. i think it probably will be soon and that's going to be something that's very important. i've heard that this thing is very thorough and i heard that there's going to be a lot of people running for cover when this comes down. it's interesting, maria, you noted that new york times story yesterday or the day before about going through how the trump russia thing started. i mean, there's a reason why some of this stuff i think is leaking because i think they realize that the hammer may come down with this i.g. report and, yes, you may have criminal referrals. of course, i've been saying some of these folks should have been referred long ago like mccabe and comey. you may see that in the report
and don't forget, the inspector general is a democrat appointed by obama. it's not like he's a partisan republican. >> maria: so it's in a two week review period at the doj right now. i guess we will see that within the next two weeks, in the inspector general report? >> i think we should do that. i mean, i'm hoping it's not put out on like the friday before memorial day weekend. i hope it's put out at a time where the american public is going to be engaged with the news and can really internalize and take stock of what happened during this critical time at the highest levels of the department of justice and the federal bureau of investigation. >> maria: let me switch gears. the president is outlining his expectations for the upcoming meet with the kim jong un after north korea's state agency reported the leader was threatening to cancel the summit if joint air force drills in south korea continued. >> we're willing to do a lot. and he's willing to i think do a
lot also. i think we'll actually have a good relationship, assuming we have the meeting and assuming something comes of it and he'll get protections that will be very strong. >> maria: what are those protections, congressman? do you agree that kim jong un should receive protections if he agrees to surrender his nuclear capabilities? >> i think denuclearizing the korean peninsula is a major -- would be a major, major accomplishment that would do so much to enhance the security of not only that region, but the world. remember, maria, north korea was the one that was helping syria build the reactor that the israelis took out in 2006. north koreans have been in iran. and so getting rid of their
they need to understand this president is different. donald trump will tell them to go fly a kite. >> maria: congressman, good to see you. thanks so much. >> thank you. >> maria: coming up, nancyar pelosi defending violent murderers, ms-13 gang members. the house minority leader's shoving comments drawing strong
criticism this morning. the debate over yanny or laurel makes it to the white house. president trump's response is taking the internet by storm this morning. back in a moment. ♪ we danced all night to the best song ever. ♪ >> maria: welcome back. a police officer in connecticut is fighting for her life this
morning after being stabbed multiple times. cheryl casone has headlines. >> cheryl: officials say the officer was stabbed in the throat while she was trying to handcuff a woman during an eviction. the officer was taken to a nearby hospital in critical condition. she remains in intensive care. the suspect has been identified as 39-year-old shavon agu agustine. she has been charged with attempted murder. gina haspel becomes the first female director of the cia. the vote overcame concerns about letter role in the harsh cia interrogation program. haspel has spent nearly all of her 33 year cia career in undercover positions. the vote happened yesterday afternoon. more help is on the way for you
migraine sufferers. the fda approved the first drug designed to prevent painful headache that's can be debilitating. doctors say the drug can lower the number of migraines that patients get per month. it is a monthly injection and amge nsaid it will be available within days. the price tag, nearly $7,000 a year. if you suffer from migraines, it might be worth it. shares of amgen are up 10% over the past year. the viral debate of yanny versus laurel has taken social media by storm. now the white house has weighed in. >> it's so clearly laurel. >> it's laurel but i could divert to yanny if you need me too. >> yanny's the winner. laurel's the loser. >> it's been reported that you hear laurel.
how do you respond? >> clearly you're getting your information from cnn. that's fake news. all i hear is yanny. >> who is yanny? >> i hear kofefi. [ laughter ] >> cheryl: thank you, president trump. so the president cracked a joke about this tweet last year that sent social media into a tailspin. that was the white house weighing in on the yanny versus laurel debate. i stick by yanny. i will let the panel debate what they're hearing. >> maria: you said it earlier, it depends on the device. you're standing by laurel. >> i'm standing by laurel. >> i heard both. depends on where i'm hearing it. but i heard both. >> i want to know when this is
doubling down. why she is defending ms-13 gang members, saying they're not apmalls, that's coming up. and we break down the outlook on oil prices, now up to $71.54 a barrel. back in a minute. another ding, another scratch, another chapter in the story. chevy silverado. the most dependable, longest-lasting, full-size pickups on the road. it's the chevy memorial day sales event! get a total value of over $10,000 on this silverado all star when you finance with gm financial. find new roads at your local chevy dealer.
i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today
with td ameritrade®. >> maria: welcome back. oil prices continue high. the oil market west texas crude trading near a multiyear high at $71.57 right now, brent crude briefly hitting $80 a barrel earlier. joining us right now is tom closet. thank you for joining us. do you think this continues? >> i think it continues through the middle third of the year. this is going to be the high
third. i think we'll spend some time in the low 80s, maybe even get to $84 or 8 a $ $85 for brent crudh determines gasoline prices. i think wti will spend most of the summer in the 70s. the good news is, i think it's a middle or kind of a gelatinous third. then it starts to trend down in the last 100 days and into 201. >> maria: is it largely about some of the geopolitical issues happening, whether it's the iran deal or worries that there could be a shortage? what's behind this? >> i'd say it's a little bit of everything. i'd say that investment money drove it up in the first place and it was smart money at this point. you could say that. i think secondly, we've got something we haven't seen before for 15 months. all of the major industrialized countries i and the emerging countries are performing at gdps that are unheard of to have that take place in unison.
that's pumped up demand for global oil each of the last three years. we're going to do something we've never seen before. we used to talk about peak oil. we're going to get to demand for oil of about 100 million barrels a day briefly this quarter. so i-- and iran is a big deal dn the road. watch out for venezuela. elections are this weekend. they used to provide us with a lot of refined products. they provide the rest of the hemisphere with it. >> maria: dagen, you mentioned the supply part of the story. there's an article in the journal you referred to showing that even though oil is at $70 a barrel, frackers are struggling to make money. >> dagen: there's a transportation problem where they can't get it out of the ground at a reasonable price and they're having trouble with the pipeline transportation.
do you think donal think presidp will tap the strategic reserve? would it help ease prices during the summer? >> it wouldn't hurt, i'd say. he has shown a willingness to tap the reserve and the reserve actually has some of the kind of crude oil we need. we need me crude with protein. all of the shale oil is light and sweet. it produces a lot of thongs youu don't like, like propane and butane and so forth. i think high gas prices are very much on his radar screen. i figured it out and this driving season the average family's going to spend about $1,320 versus about $1,250 last year. i think people in his administration are very much aware of that and they're struggling with what to do. by the way, those people struggling with crude oil in the
perm yepermian basin and west t, i'd like to have that kind of struggle. they're doing quite well. it's the struggle of well, i'm not making $40 a barrel, i'm making only $25 or whatever. >> staying on the supply side with opec, is there more dysfunction right now in opec with the saudis looking to drive up the price of crude? has it become more dysfunctional among the members of opec? >> i would probably argue it's the most discipline opec i've seen. discipline comes down to the saudis kuwaitis and united arab emirates. the saudi regards iran like president trump regards rosie o'donnell. the saudis could punish iran if they actually raise production going into 2019. it could be that some diplomacy will result in the saudis
supplying extra crude that we lose from venezuela or iran. >> maria: we're heading into the summer driving season. gasoline prices are on the rise. the national average price for a gallon of regular gas is at $2.91. what are you expecting there? >> i think we'll be between here and about $3.110. if we get an event, a hurricane, some sort of disruption, power losses, missiles flying in the middle east, it could go substantially higher. but i think the prices you see for tomorrow's royal wedding, we're all so excited about it here, i think they'll be probably close to what you see all year. and by the way, we paid more than $1 more at the last royal wedding. so don't tell me that's just coincidence. >> maria: i forgot about that. good to see you. tom closet there. nancy pelosi defends ms-13, the backlash after the house minority leader said the gang members are not animals and she
uses it an opportunity to criticize trump. and then we're taking you across the popped for pond for a look g preparations and the reveal for who will walk meghan markel down the aisle. the surprising choice coming up. back in a minute. ♪ come and get your love. ♪ so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. with dell small businessout your technology advisors you get the one-on-one partnership you need to grow your business. the dell vostro 15 laptop. contact a dell advisor today.
it is friday, may 18th. markets looking to end the week on a strong note, dow industrials up 64 points. this is off of the best levels of the morning. futures pointing to gains this morning. this after declines yesterday, the major indices edged lowers and trade worries weighed on investors. european indices look like this, that is also a mixed story. the sac cac is up a fraction. in asia overnight, gains across the board. change at the top for campbell's soup. denise morrison is retiring as ceo, effective day. nancy pelosi is at it again. this time she's defending gang members, saying they're not animals. the white house fights back. >> calling people an animal is not a good thing. >> the term animal doesn't go far enough. i think the president should continue to use his platform and
everything he can do under the law. >> maria: the backlash against pelosi coming up this morning. the countdown to the royal wedding is on, due to meghan markel father's illness, somebody else will walk her down the aisle. the surprising choice, coming up. a warning over the crypto craze, how the securities and exchange comission is helping consumers stay away from bitcoin scams, coming up th. the white house is doubling down on ms-13 gang members with the president calling them animals. numerous media outlets took the president's comments out of context yesterday and suggested that president trump was referring to all illegal immigrants. president trump took to twitter on the matter earlier this morning, writing this. fake news media had me calling illegal immigrants animals. wrong. they were forced to withdraw their stories. i referred to ms-13 gang members as animals, a big difference and
so true. fake news got it purposefully wrong as usual. nancy pelosi and the white house press secretary squared off yesterday over the president's comments. >> another man at the station, why their policies are so inhumane, calling people animals is not a good thing. >> this is one of the most vicious and deadly gangs that operates by the motto of rape, control and kill. if the media and liberals want to defend ms-13, they're more than welcome to. frankly, i don't think the term that the president used was strong enough. >> maria: joining us right now us the former senior advisor to the clintons, managing partner of the stagwell group. , mark penn. thank you for joining us. nancy pelosi likes to mix things up, saying this means that the republicans have inhumane policies. what's your take on this? what's she talking about?
>> look, i think this is a one hour story but i think trying to defend ms-13 members is probably a losing proposition. what happened here is the president said something that was taken out of context. most importantly, the associated press retracted their tweets which said that they sided with the white house. pelosi should quietly let this story die and back out of it. otherwise, i think the white house is going to win one. >> maria: the migger issue is -- the bigger issue is she's getting everybody to talk about it and in doing so it confuses people and people are not sure what the president meant. so it's wrong, lee. >> i don't think this is going to be a one hour story. i think this is going to be something that we're going to hear over and over again. this is going to be her new crumbs comment. i think it was a big mistake. i'm curious, one of the questions that a lot of people have is what is the democrat
message going to be going forward? they got together last week, were talking about the fact that they need to have a message that's not just resist and not just criticizing the president like nancy pelosi just did. do you think there will be a story coming out, a better narrative? >> look, i think it's been pretty clear since michael often avonette and stormy daniels were the news, it's gone to a democratic edge. they'll go back to health care, equality, i think that they continue to fight immigration on the other side. i think you're going to see them reformulate a message and say hey, we need a better, more ethical, moral america where everybody can get health care and the republicans are bankrupt in that sense. i do think you'll see the democrats coalesce around a better message. >> dagen: it's danedagen mcdowe.
i'll argue the issue of president trump calling the ms-13 animals, it's not a one hour story for one reason. because if you're going to preach ethics and preach morality, then you can't get caught lying to the american people, trying to hoodwink the american people and shoehorn what trump said about this violent gang into the democrats' narrative that he's unhinged and he hates all immigrants. even when caught, even after a.p. deleted that tweet and corrected it, you still had senator chuck schumer for an example going out there and pushing that narrative of immigrants are animals, according to trump. even the new york times didn't correct it. and then when they got caught, now they get into this issue of well, they're human beings. these violent gang members who behead people and stab teenagers and mutilate teenagers, they're really human beings.
>> maria: what did john horowitz say? they're human too. >> dagen: they're human beings is what john horowitz said. >> my point to you is people are so skeptical of news, politicians and charges and counter-charges, they're really going to wind up focusing on the issues of the economy, of health care, of education, of equality. i think that these fights like this, nobody's really a winner. it just takes up oxygen. i'd give the white house the plus on this but it's not going to make a difference. people already have their sides when it comes to stuff like this. >> you don't think this will be played over and over and over again. >> maria: like the crumbs comment. >> like the crumbs comment, like the basketful of deplorables. don't you think it will be a moment like are you serious? >> i don't think it will rise to this. i think pelosi will look to quietly back out of this thing,
reaffirm she's opposed to ms-13 members and life moves on. we're going into a weekend. by monday this thing will be gone. >> i'll take the over on that one, by the way. [ laughter ] >> i'm with you. >> mark, i sort of reflect on the famous comment, it's the economy stupid. going into the midterms very possibly the market will be up, economy could be growing at plus 3%. will the economy be the biggest issue in the midterms or will it be all of this nonsense? >> look, i think there will be a real battle on the economy. most voters when you ask them in the harvard harris poll, health care is the number one issue. democrats so far haven't exploited that i think as strongly as they could. keep your eye on working class voters. are they sticking with republicans and trump. keep your eye on independent women, are they the swing vote in the election. they have swung against trump and are probably the biggest problem out there. the republicans have no leadership. i mean, ryan quit but didn't
quit. how do you go an election with a -- go into an election with a lame duck leader. >> maria: you think he should step down sooner than november and let the next speaker get in charge. >> anybody who says in politics they are out is out. >> maria: right. >> i don't know why anyone would hold onto their position after they said that, particularly going into an election. so i think that gives the dems a big neutralizeinizeing ability . >> maria: we know what nancy pelosi will do when she becomes speaker. she said she wants to take back the tax reform package and raise taxes on americans. that's going to fly? >> she is an unpopular leader but at least she's a leader. most democrats actually support the leadership of schumer and pelosi, even though they don't play that well in the broader electorate. the republicans don't each like the republican leaders and the
leaders are staying in power. i think that's a real problem for them. >> dagen: paul ryan is at least photogenic and arguably the most photogenic man in washingto was, d.c. that's helps the republicans. >> maria: listen to you. >> dagen: he better be photogenic. >> maria: you have the hots for paul ryan. >> dagen: he is the only person who doesn't better deal you when you talk to him. he doesn't look by you when you're talking to him. he cares about who he's talking to. health care, people get premium increases for year, we find out in october how much premiums will go up. kellyanne conway sat on the set and said this is going to be the pocketbook issue, this is going to be the women's issue that turns the election. does this play for the democrats this year? >> i'm not sure. the white housing is already
preparing for a lot of the healthealth care debate by talkg about flail pharmaceutica pharm, talking about concerns that people have. you said independent women were leaving trump support. how do you explain the lead going from 16 points to 3 points. that's within the margin of error. >> two things. i think you see the gender gap if anything accelerating. trump started to do better with men, particularly younger men. i think he's got a real problem with these independent women that he hasn't figured out how to bridge and that for democrats going into the election, could be a strong turnout factor and i think nothing he's done has alleviated that. you have to understand, while the republicans won the tax cut, they lost health care really badly. it was an issue that they led on for years. they had no message. they had no plan.
right now, voters are saying they're far more comfortable with democrats on health care than republicans and it's been turned into a major liability and with no leader, i don't think republicans are going to be able to reverse that. >> maria: we had that senator giving the thumbs down and so there's that. but i got to turn to another story and that is the a abuse of power on the left. let's talk about the countdown to the i.g. report. we know that the i.g. report is now in a draft two-week review. the draft is in the two-week review period at the department of justice. the watchdog report extended the investigation into the hillary clinton e-mail scandal over her 2016 presidential campaign. that report is now completed. it's going to be you out within the next two weeks. did you see the op ed in the journal by kim strassel, was trump's campaign set up. all of this the same sorry line.
your take and what you're expecting from the i.g. report. >> i've been very skeptical of mueller and his operation as having no foundation from the beginning. i think the most important thing to look for in the i.g. report is how does the i.g. come down on comey. if the i.g. basically blasts comey as being someone who either committed violations or led this thing in the wrong way, then mueller can't use him as a witness. that blows up the obstruction of justice case against the president 100%. i think that's probably the most significant thing going forward and then the question is, will there be prosecutions here of people who leak, or what diss not. not. we've seen nothing report. >> maria: the last report from the i.g. recommended criminal charges against andrew mccabe. will there be recommended criminal charges against jim comey? >> i think it's a very strong possibility. the i.g., if you look at his report on mccabe, i've never seen a report that
well-documented. if he has a case against comey, you can get it's iron clad. >> maria: good to see you. mark penn. we'll be right back. minutes. that guests would compliment our wifi. that we could video conference... and do it like that. (snaps) if you'd have told me that i could afford... a gig-speed. a gig-speed network. it's like 20 times faster than what most people have. i'd of said... i'd of said you're dreaming. dreaming! definitely dreaming. then again, dreaming is how i got this far. now more businesses in more places can afford to dream gig. comcast, building america's largest gig-speed network. metastatic breast cancer is relentless, but i'm relentless too.
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♪ going to the chapel and we're going to get married. ♪ going to the channel an chapee going to get married. >> maria: countdown to the royal wedding is on. greg talkott is live in windsor, england with the details. good morning to you. >> reporter: good morning. welcome to windsor castle. just about this time tomorrow we should be watching harry and meghan emerging from the castle after the wedding is over. we could see them today, they're organizing final details before saturday's wedding.
meghan's mother is in from los angeles, set to have tea with the queen later today. she might need backup. meghan's father will not be attending the wedding due to probably health reasons. it is now announced that prince charles, the father of harry, will walk meghan down the aisle. the palace is saying that they are happy to do that, to welcome her to the royal family. and the palace just a short while ago confirmed prince philip will be attending the wedding. the 96-year-old husband of the queen has been recovering from a hip surgery last month. also beginning to show up, some of the 100,000 people set to descend on this town. we talked to some of them. they are very excited. the white house is sending a wedding present or making a gift, in lieu of a gift they're contributing to a charity that is a favorite of the couple. by the way, no, i repeat no politician is invited to the
wedding. >> maria: thank you so much. kelloggs is the latest company to join in on the royal wedding craze. cheryl casone is here with the details. >> cheryl: you knew i would do a food segment on wedding day. kelloggs is teaming up with a former royal chef, darren mcgrady. they will have a viewing party for the big wedding. he was the head chef for diana and william and harry for 15 years. he will be in union square. tomorrow some new wedding themed items inspired by the royal family will be served at 5:30 in the morning in new york. stately scones is one of them, frosted flakes scones with fruit loops cream and there's a special crown, with special k seacereal and the lemon luster
wedding cake which is raisin bran cake with cream cheese froster. and there is edible gold with fresh flowers, all of this -- this is what's going to be served, a better version i'm assuming at the reception. we thought we would give them a try. the stately scones, this is -- we've got these on set and i'm actually going to dig into the cake. >> maria: party goers can make head pieces from the cereal boxes. >> cheryl: yes, a woman that was on project runway will help you make fascinators in new york. this is for the royal wedding here in new york. >> the cake is really good. it's actually raisin bran cake which i never had. we had a taste test in the green room before the segment. thumbs up. just want you to know. >> dagen: is that good? >> i want to make a fascinate r.
or. my cousin is getting married next week. >> there's fruit loops in the cream. >> cheryl: yes, they made cake with fruit loops. isn't that good. >> maria: coming up, jumping on the bitcoin bandwagon. we'll have details. ve in togeth. -ahhh! and this is the chevy equinox, perfect for when you two have your first kid. give me some time... okay. this is the traverse... for when you have your five kids, two dogs and one cat. whoa! five? uhhh... it's the chevy memorial day sales event! get an additional $750 on these select models. that's on top of most other offers! find new roads at your local chevy dealer. allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife.
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>> maria: welcome back. more bitcoin buzz. big names descending on new york city this week for the consensus conference to tout the benefits of cryptocurrency and block chain. it's called block chain week. the securities and exchange comission launching a fake website about initial coin offerings to warn investors about the risk. joining me right now is dan morehead. thank you for joining us you've been among the first believers
in block chain and bitcoin, your digital asset fund outperformed bitcoin in april. tell us about the fund. >> the fund is buying bitcoin and all the liquid currencies. there's about 60. it goes long and occasionally short based on their value. >> maria: how's it going? >> since december 1st bitcoin is down and the fund is up 45%. >> is that because some of the other components of index are up? or is it just your hedging strategy? >> it's not just bitcoin. when you buy them relatively cheap and sell them when they're up, you can make money. >> what companies should we be looking at or what currencies? >> you set up a huge portfolio, it's like the i.p.o. boom in the '90s, there's a lot of interesting things. you should own some cryptocurrencies themselves, like bitcoin, investing in a big basket of icos is probably smart and venture companies that are using block chain to help clients do something better,
faster, cheaper. >> dagen: the front page story in the wall street journal, they did this vast research project, looking at digital coin offerings. they looked at 1450 digital coin offerings and found 271 that seemed to suggest they're fraudulent. they found rampant plagiarism of the offering documents, identity theft, promising promises of ime returns and fake executive teams and of those where there were problems, there's $1 billion invested in those coin offerings. there's danger that there's man i'll -- manipulation and fraud. people pouring money into them don't know the difference. >> there's fraughted i fraud ine of industry. the s.e.c. has cracked down in a few of them already. a lot of people say the ico
thing is like the ipo thing in the '90s. the huge difference is they're technically complicated. bed food on the internet, i kind of understood what that was and books on the internet, check, figured that out. but here these things are very technically complicated. unless you have a strong technical background and you have a lot of time you want to devote to this, it's safer to buy bitcoin, xrp and keep it to the big block chains. >> maria: people are wanting to find out, you're in new york this week because of a block chain conference, same conference last year was 3,000 people and this year? >> it's 9,000 people this year. if you dial it back, in 2013 there was like 200 people in a threadbare hotel, now it's 9,000 people. >> maria: thank you. we'll be right back. we know the value of trust.
we always found the way. until... we lost it. but that isn't where the story ends... it's where it starts again. with a complete recommitment to you. fixing what went wrong. making things right. and ending product sales goals for branch bankers. so we can focus on your satisfaction. we're holding ourselves accountable to find and fix issues proactively. because earning back your trust is our greatest priority. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. coming decade. the mineralset to inresources that are needed toe supply this coming demand are plentiful but not necessarily easy to unlock. the smackover formation in southern arkansas may hold one of the most significant lithium resources
globally. standard lithium intends to play a key part in the development of this critical mineral resource through our structured approach to discovery, strategic alliances and our industry-leading extraction process expertise. learn more at standard lithium dot com. maria: good morning. thanks for joining us. i'm maria bartiromo. friday may 18 top stories 8:00 a.m. on the east coast, markets looking to end higher futures a gain start of changed hour and half 65 points higher on dow up to 3 and a quarter points higher s&p 8 and a quarter higher on nasdaq climb yesterday major indices edged lower again global markets in europe mixed the ft 100 down a fraction dax down a fraction, cac quarante in paris up a fraction in asia overnight gains across the board saws there shanghai
composite up one and a quarter% tough talk on trade china this morning, is denying reports, that it has agreed to 200 billion dollars in concessions as part of yesterday's negotiations with white house, president trump calling out china, saying kin has been spoiled by its trade relationship with united states. >> china has become very spoiled. -- very spoiled other countries have become very spoiled, because they always got one hundred percent whatever they wanted from the united states, we can't allow that to happen anymore. >> where things stand breaking news, a gunman erupted at trump golf club in florida, the very latest there. plus here is this, raining ash to hawaii kilauea volcano running, smoke 30,000 feet into the air incredible pictures out of hawaii, ford
restarting production of best-selling truck f-150 to plant, this morning, and feel-good story how a robot was able to help a hospitalized stunt attend high school graduation to talk about it, fox business network dagen mcdowell, mich mitch ro chel. >> good morning. >> that is nice. >> we will see. >> i can't wait to see that ford restarting the assembly of best-selling f-150 after a fire forced the company to halt production, about jeff flock live at ford's assembly plant with the story there good morning to you a big relief for the company. reporter: boy what a smile a lot of smiles in dearborn you are looking live exclusively fox business network production line in gear kicked off about would i say an hour ago, at the truck plant f-150
i think -- cabs. >> four doors. >> look at this this is the this is the truck right here, that is radiator the part close-up picture of that missing part, was the one made out of magnesium in a plant in michigan big fire time line how quickly this is back on line -- senior vice president executive vice president of product development with me, you kicked into a plan that i don't know you never thought you could -- heroic effort behalf of team supplies consulted contingency plan got plant up and running 8 days. >> you had to -- ply a buy you got a part you put into make it out of a mold 87,000 pounds
extracted tools shipped to u.dk 30 hours. >> we've got a picture of that, 21 planes in the world right. >> right 21 planes can with stand payload. >> a picture production line also -- aluminum beds down there i want to put in perspective i know you know this crazy numbers ford's biggest sellers not only fseries the biggest selling vehicle in america, but they sell basically three times more of this truck than any other vehicle about in second best-seller amazing they are he happy dearborn michigan this morning. >> of course. maria: you have best-selling truck on market then this issue you had to stop production thank you jeff we will watch developments at ford to capitol hill house lawmaker are set to vote this morning, on this year's farm bill the freedom caucus threatening to vote against
this legislation unless republican leaders take up immigration first freedom caucus chairman mad oz, house speaker paul ryan said yesterday. >> i think, about the vast majority of our members believe that we should have a vote on immigration before we have a vote on the farm bill. >> we want to see if we can do our immigration bills we have been labor oring to get to 18 clear don't have 18 for a specific bill that is why members are now trying to figure out, how can they get, their version of what they think should happen to the floor. >> joining us right now house financial services committee member roger williams congressman good to see you, sir thanks so much for joining us. >> good morning, maria. maria: should lawmaker tie immigration to supporting country farmers. >> i think should address image issue months back quite frankly i am ready to vote on immigration bill i like goodlatte bill we've got a farm bill should be probably desperate if one should come into the other that is
anybody's call i would be rad to go either way we need to move on we need the farm bill voted on we need to get immigration bill president asked us to do that so long ago as march 6. maria: can you explain holdup on immigration. >> i can't we've got a goodlatte bill out there i like i think majority of members like, of course, there are other issues i think gets back to the 218 votes that we talked about all the time. but i do think we need to put something on the interior see what kind of response it can get, and if they want to do it now i am for it, and let's move on with it. >> congressman it has been reported russia has been selling sardines to china because of trade worries out there are these sort getting merged together maybe more impossible get legislation through? because something -- farm bill, something in immigration bill, somehow gotten tied to all other issues? >> well there is a lot going on, i think, you know, in business, i am a business guy, i try to keep everything in a
different box, we need to take the box as it comes up we got to deal with the farm bill with immigration we got to deal with trade that is a record to do, and i think, that -- we should not make it hard let's go after each one individually, and let's come up with a solution. >> we just had, talking number one issue for americans, is health care right now, according to polls. and he was talking about how congress hasn't delivered a health care fix, then n also a big deal for immigration, that is another things are we going to get these big issues done into midterms? >> i would hope so i would say that i don't know if health care is biggest issue out there what i found is biggest issue out there is the economy, people are excited about the economy, they are excited about tax reform they are excited about getting more money, in paychecks we are seeing businesses grow we are seeing more cash flow come into country than in the past yes, we need address see are issues but the economy i believe, is what is driving
america right now. maria: we've got. dagen: going to with with respect chain migration health care is final issue economicch people go to polls in november month prior going to find out how much premiums went up so health insurance policies the more they pay harder on family finances so it is an economic issue. >> you are right it is economic issue i don't think -- >> the economy, of course, economic issue. >> there is no question about it, we need we need to come up, we need to come up with a plan, i mean, the fact of the matter we started with the -- giving the -- the individual mandate out of the economy let people shop we need to do things on shop across state lines portable about deductible we need to address these when we do that economy is cranking disenfranchising concerns most have. >> trade in particular china
second u.s.-china trade talks beijing denying that it is offering to cut strayed surplus with u.s. 200 billion dollars congress working thwarted advancing a bill giving u.s. more power to block sensitive business deals investments between he american and chinese companies on national security ground chinese want national security issue off the table, issue should the president be agreeing, to this 200 billion dollars cut in the chinese surplus to get his national security issue off the table? >> i hearings important thing we are dealing with that, in my committee. i think we need to be very careful as we do not -- you know, allow, china other countries to get our military secrets trade secrets anything else, the president i trust him making the right kind of deal, and, i think that we have to be very aware that china, would like to get all trade secrets in many cases they have and it needs to be we need to be able to stop that. maria: haven't they done that
transferring technology forcing transfer of american technology to chinese companies they are the leader in a number of industries of future blockchain technology, or a.i.. and the finance minister -- financial services committee resisted this bill due to opposition from business what is the word? should we reconsider this given interceptor with china the fact we know they have been stealing i.t. for decades. >> that is where why we are debating it markup next week has to be right we have debate going on, but we need to understand china is our competitor, china wants to defeat us not necessarily military but economically we need protect ourselves from that. >> isn't it true because they made so many gains economically they are transferring that to military bulking up military spent, they were second spender on military, right after u.s. in last couple years. >> i think that is very true,
that is why we are addressing that that is why we need to address it, and there is you know every day a fresh day every day, we need to begin to slow this down, and understand that china, as i said earlier, is our competitor economically militarily we need to be aware of that the president is. >> word on nafta obviously no deal, this was a soft deadline for the president what are you expecting out of nafta talks are we not going to see a new nafta deal until after the midterms? >> well, very well might happen there is a lot happening you know of course, i know we get in summertime a lot back he up. >> not to mention mexico elections. >> exactly, nafta i am from texas, nafta has been a big benefit for texas i think we need any deal as old as nafta i think, certainly needs some -- some tweaking if you want to say that some improvements i don't want to be labor nafta i think we can make it better
strengthen our economy with it. >> when might be see a detail do you think. >> again, i am a doer a business guy ready to do it all right now i don't know, we have election year coming up, you all know what happens when people start running for elections things slow down i am ready to act on that also we will see what happens. >> good to see you this morning thank you. >> congressman williams gunman opened fire in ploib of trump golf resort in florida the latest developments this morning, ceo is out at cam pell soup the latest on leadership shake-up has stock down 4 1/2% this morning after quarterly results back in a minute. ♪ ♪ ♪ gun man opening fire at
president trump's golf club in florida withdales now. cheryl: the gunman marched into trump national golf resort doral, draping american flag over lobby counter began rant about the president, then he opened fire. police arrived to exchange gunfire with suspect, he was shot wounded, then taken in custody, police do not know motive president trump was in washington, of course, at the time. >> hawaii kilauea volcano erupted more explosions can
happen any moment a plume of ash six miles into sky residents big island warned to take shelter, from the ash, also, a spike in gas levels in schools officials -- to residents near volcano, warning could be first in series of major explosions. >> more trouble, at wells fargo after a series of he scandals "the wall street journal" says some employees changed information on business, commerce documents, sources say workers in bank wholesale unit added altered social security numbers, last year early this year without telling customers wells fargo ceo sloan told you people think bank needs to clean house don't know what they are talking about. >> we made fundamental changes as you mentioned in terms of our leadership, in terms of the organization, we are taking things right for our
customers continuing to grow this company. cheryl: wells fargo says those documents were used for internal purposes no customers harmed it reported problem to a regular lateors wells fargo down 10% for the year. finally take a look, at this alabama high school sr., 17-year-old cynthia was hospitalized before graduation supposed to be in hospital for weeks, with help of robot you are seeing on your screen was able to attend for graduation ceremony virtually a gown ipad, crosses the stage driving the robot from hospital room, and her fellow students screaming in ther auditorium got emotional so many tears of joy fake eyelashes fell off so happy. >> it is the sweetest thing,
in hospital for weeks the poor thing, so a heartwarming story for you. maria: very nice able to join the graduation, that way. thank you. coming up powerful tornado sweeping through germany more on harrowing video this hour, how cofounder home depot ken langone join me looking at new book, i love capitalism, back in a minute. ♪
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coming decade. the mineralset to inresources that are needed toe supply this coming demand are plentiful but not necessarily easy to unlock. the smackover formation in southern arkansas may hold one of the most significant lithium resources globally. standard lithium intends to play a key part in the development of this critical mineral resource through our structured approach to discovery, strategic alliances and our industry-leading extraction process expertise. learn more at standard lithium dot com. learn more at standard lithium i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified...
i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. maria: welcome back becoming a billionaire icon in business home depot cofounder found story of building a successful
career in new memoir, "i love capitalism" american story check it out, also chairman of -- joins to talk about it congratulations. >> thank you very much. >> great to see you great to tell berate your book hereto ce your book this is during election watching bernie sanders tell us -- >> it was watching noticed close up kids following him i said my god they haven't started yesterday they've given up. we live in greatest nation on earth i do believe if i was 21 had opportunity could be better i wish i was 21 but i am not incredible opportunities in america. you have to look for them you got to work at it, you got to give back you got to put great people around i, i say with no
degree humility i am not self-made i had blessings early -- mitch hart, derrike, i can name unz hundreds of people i listen to names of all people i could remember across my life that helped me, if you want to make the effort, you need some luck no doubt about it, god gave you a choice, okay. but about this is greatest country on earth, about stop knocking it. maria: what i love about the book there are so many stories here about your upbringing you write about being self-made, and you started with nothing, through your work with ross perot able to cement a reputation when questioning capitalism what bernie sanders -- >> he was saying it's got to go. >> you see young people they don't understand the experiences that you've seen
that you have had to work hard not necessarily get all the handouts from government. >> look. let me tell you biggest price we are going to pay as society getting things for doing nothing we are going to takeaway the ability to develop self respect on part of these people somebody does it i don't know whether in cafeteria like my mom my father a plummer -- earned from hard work, efforts, that builds confidence in turn gives you the opportunity and the desire to do more, we've got to figure out a way, to make sure nobody goes to bed hungry in america make sure we have people one of the biggest challenges serious problems, income and equality up top people like me businesspeople to figure ways out close that gap we need help, the help has got to be in public education system kids have go by given
fair shot by quality of education they get, they're not getting it now. >> education is key in this that is why you have been a supporter -- because of what you have been through you write about it in this book, you were at one place you got to another place, that has empowered you to give back look what you've done nyu, medical look what you have done in education, look at your wife what elaine has done for animals veterinarian hospitals all the money you give back so you can actually pass it on to help people who haven't gotten a shot. >> look, the bible says to them that are given much, much is expected that is right i want to let you in on a nice secret, the money elaine and i have given away we've gotten back so many times over, so many different ways pb, the thing i would rather be remembered for not checks that is pretty easy but rather the
time we've given our time is finite, if i get it day to day not one more day other end unless god figures out out does it the checks i have written, guess what we have gotten it back thank god, you know, god is so good, but what i want to say is if we want to help people develop self-worth develop confidence, that they've got something to offer they can be different they can make a difference, these are the things that capitalism i bleebl he bleebl. >> can a kid do what you have seen start with nothing make his are or her own -- >> the saying harder i work lu luckier i get luck big part of police -- 63 years ago pure
luck a break an opportunity, i go down my sons god bless them how much i love them in-laws, parents, had great capacity to give me in condition-- uncondit love i tested them with antics, my dad said if i had to see you again would be too soon. but these are wonderful simple loving giving people that is other thing we've got to restore the importance of the family unit in america it is critical -- look at my family, the sunday after lunches with gravy. >> let me ask you one of the things i love about you and your career, are principals loyalty you mentioned being married 63 years. >> 61 years --
>> we -- you have tough situations in your life you had to stand on principles the board of new york city had to fight eliot spitzer took a stand for dick grasso took a stand on ge board to help jack welch build one of the greatest companies in the world. >> ge is absolute tragedy most valuable corporation in the world 18 years ago, now struggling. you know -- let me go back to grasso for a minute. i loved dick, dick a very close friend my stand in that case was not based on my -- loyalty to dick it was based on my knowing believing my judgment deciding what the pay package should be i believed it then not backing away. >> principles you had to stand up to eliot spitzer. >> a sense i got stood me in
good instead many years i had a sense eliot spitzer was evil man i didn't realize how evil one of the things i saw was how he won't only destroyed careers of young people for headlines for himself you got to take a stand with us in a while you got to be counted sometimes it is painful, it happens i will let you in on a little secret i was loving every minute of that fight for a lot of reasons not the least the i knew would prevail a insurance paying legal bills let party go on. >> you had principles that you knew what was right and wrong. >> absolutely. >> in terms of ge will ge come back. >> not as it was. jack welch, without question, without question, is one of the greatest businessmen not only that i have known but i think in the history of american business. ch he had a great knaknknack.
>> ebersol -- >> -- i was at nbc, ge come on. >> jack great supporter. >> jack had this -- he also had a sixth sense where he wands to be as a businessman he did it right. maria: just turned things around -- >> i said, in retrospect i look back, appears to me that jeff's goal was unjack general electric it is a tragedy last couple weeks ago a story in journal about a man worked in a appliance factor ge appliance factory in illinois how he put money away through years. >> now never saw them now retired, going to have to go back to work because shares
have gone down by three quarters. a tragedy, the guy 65 or 730 whatever or 70 figuring out to put bread on the table the people people like me and, perot mitch heartin name it the people we have to be sure come to the party. if we get to count if we are gifted with opportunities we have good luck, we got to make sure the party is all-inclusive, that helps the income inequality gap. >> what you have been doing last week orientation i guess sponge revenue. >> revenue, one the weather we had. maria: that is -- >> i think what excites me about people the management who bivery best ever in the history of the company run
better now than before they were able to manage, 80,000 people part-timers, and full time you tell somebody going to work this weekend find out, they -- may want to work but going to rain you got to manage that cost they have done a masterful job at that. how could i not love home depot. >> we all love home depot. >> -- the team, incredible job, those are exciting to me i go from there. >> thank you so much for all you've done leadership. >> academic out book i love capitalism we will be right back with rand paul right here. stay with us. a flying machine? impossible! a personal' computer?! ha! smart neighborhoods running on a microgrid. a stadium powered with solar. a hospital that doesn't lose power.
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national -- gained 24 points s&p, nasdaq negative markets in europe mixed story take a look, and as you can see, the -- the european indices down across the board, with ft 100 down 25 points, and cac quarante down 2 1/2, dax index in germany down 26 in asia overnight gains across the board to look at the numbers here, the china perform up one and a quarter% shanghai index. >> balancing the budget senate he overwhelmingly rejected a plan would have balanced budget five years cut spending over 10 years, tense the plan on senate floor lindsey graham said it was -- >> at the end of the day this budget put everything every
defense person that has been hoping for it in jeopardy takes efforts to rebuild military and throws it in a ditch, 13.5 trillion-dollar, being cut over the next decade, a lot of it going to come out of the defense if it was a reality, if you tayou def social security off table a joke not is not the time to be funny now is the time to be serious. >> joining me ken senator rand paul thanks for joining us says not time to be funny your reaction to your colleague's criticism. >> i think -- conservative, a big government republican to him feeding military industrial complex is his priority, really isn't balancing the budget most republicans like lindsey graham say they are for a balanced budget amendment the amendment would balance five years i think hypocrisy say i am voting for balanced budget amendment vote for it when it comes to voting for a budget
that balances in five years won't do it the budget put forward didn't have specific cuts in the military, it cut one percent of the budget not 13 trillion, 1% of the budget is 32 billion, budget we vote on 3.2 trillion, 1%, 32 billion you've got 32 billion every year five years it balances 13 trillion-dollar from proposed increases they are proposing to increase government by 13 trillion, if you freeze government they say you cut 13 trillion no we haven't we have frozen spending. so what we're talking about cutting spending 1%, 32-billion-dollar, you cut out proposed increases where they get large numbers, they were never real numbers just numbers they want to increase government spending by. >> what do you say to people he who say we need it to do this, because we need to money for the military, look at the navy right now 50% of the planes are not flyable because they need updating.
>> there is an argument debate we should have over whether or not military budget is too small whether our mission is too big i think in to a many war i think in afghanistan too long, we spend 50 billion dollars a year, in afghanistan, building bridge hotels that never get completed, my staff just came back we spent 90 million dollars on luxury hotel taxpayer money never completed, so dangerous, that our troops now patrol it to seen snipers out getting ready to do going to sell it to state department one part of government is going to sell it to another part of government state department going to raze thing demolish this hotel 90 million dollars flushed down toilet 50 billion lindsey graham want the continue for ever we must stay in afghanistan forever i talked to the president about this, and president, more on i president trump says time we reconsider, the 17-year war in
afghanistan. >> said that about syria a lot of people feel if you leave syria you open a vacuum like in iraq when president obama pulled out of iraq isis got stro inning. >> documents created by toppling saddam hussein neo-cons say we should be everywhere, so lindsey graham new conservatives want to topple assad a bigger vacuum we need to occupy that space they wanted to get rid of ghadafi they did now terrorism and civil war reins in liberalia those who was with a less intervention if you topple regimes create vacuum the argument u.s. troops have to stay from over we should quit creating chaos defend ourselves when we need to for the most part keep people from coming into our country. >> i want to get back to this i have a question on spending i know how important this is let me come back to this i want to get two more issues with you i asked about china i don't want to ask you about
surveillance and trump campaign, and how -- this investigation into the russia collusion narrative began, and article in journal kim strassel wrote great op-ed called iment was trump's campaign -- was trump's campaign set up? >> you have told me in the past there with surveillance around you, you told me last year that you were asked you asked intel committee if you were surveilled have you gotten answers. >> we asked repeatedly because there were rumors about specific conversations in fact at a rumors specific conversations i had with president trump before he was president there with contents of that conversation that were collected in intelligence reports they deny it i was never given any information other than from insdental things like your credit card being looked at there was never they say any cia surveillance of this we have asked for the same thing, was i surveilled also more importantly was president trump and others in the
presidential campaign she categorically denies cia did anything goes further, this is pretty important says they never cooperated with british intelligence i asked her specifically, did british intelligence give you information on trump campaign they said no to richard bureaur said to me he will vouch for what gina haspel said no intelligence was given to british intelligence to cia on president trump's campaign. >> the thing is, that is big news i am not sure i believe what they are saying, i actually do think there is going to be information come out that the british intelligence and they are going to say we were just accidentally -- this is the nuance word we weren't spying on trump we are spying on someone else but got conversations i think they reported those to brennan gina
haspel categoryly denying they got from british intelligence if not her opinion needs to speak up say did british intelligence give information to jane brennan was there meeting where they exaggerated information gained understand dently otherwise about president trump's campaign i think they did. >> could it be the fbi department of justice -- >> the way people answer you get a team of lawyers, they do everything to obscure true and accurate they know when we want to know did british intelligence give information to united states on trump campaign the thing that should not be happening cia will tell you we're not allowed to investigate americans, unless an espionage charge not allowed to investigate americans are they obtaining information kimberly strassel report talks about a working group, they get together in proom talk about how they can
infiltrate trump campaign i think a lot more we are going to find out interesting that gina haspel on record denying all of it that cia anything to do with information or receiving information from foreign intelligence that is a big deal. >> and fisa washington to spy on carter page among other people do you think account accountability. >> right after election, president obama's team many people said we are spreading this information, they are acting like angels going to spread nafgs on donald trump throughout all the intelligence ngs making concocting a conspiracies to taint new trump administration creating a narrative, it is interesting only thing we know about communication with russians the clinton campaign bought and paid for dossier that includes money -- to russians -- through steele to
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paul talking about investigations into fbi and doj do you think this goes all the way up to president obama in terms of spreading false information during election. >> one of the big block buster stories when trump won that high ranking administration initialize president obama's information spreading information about i think john brennan was one of those the question is he spreading the truth or false hooded about was he part of concocting this sort of big story, creating a sting or creating a story about president trump. so it could go up to president obama i think we will never know do you think they are
going to be truthful about a conversation between president obama and john brennan i think they are both big partisans i want the intelligence communities to have more control if republicans can do this in thademocrats can do thi separate power more power overseen by judicial branch required to get warrants before they do -- >> committees are trying to get documents to figure this out let me ask you about china there is a conversation, happening right now, about china perhaps agreeing to cut 200 billion dollars, from the trade surplus but what is america giving up on that? you tweeted about zte, your thoughts on president agreeing to 200 billion dollars in cuts and, by the way, china now denying that is actually made that agreement. >> i have never been a big believer we should look at balance of trade numbers deficits nobody cares about deficit between michigan and texas not as concerned about
those numbers, i've got trade deficit with grocery store give all money to them they never buy anything from me i don't know that makes any sense i think -- >> national security -- >> the theft i.t. transfer of technology. >> absolutely we need to enforce norms also concerned a trillion dollars of our debt my concern with security we need to the be to dependent or foreign companies that hold so much our debt. >> how not did he dependent. >> less debt. >> there you go. >> back to balance. >> do you think we will see what is the -- the timing in terms of your bill in terms of actually getting a balanced budget? >> you know, what i point out in the bill is that it would take a lot of work over about a five-year period you don't have to cut 1% there isn't stomach for it you saw a
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sale dropped, moving into a strategic review we will find that out, in august, what they found out from that the stock is down over the last 52 weeks 30%. maria: thanks so much a tornado leaves a trail of destruction in western germany cheryl casone on that. cheryl: that is right tornados rare in this part of europe dusseldorf at least two injured video shows size as many as 50 homes damaged dozens trees uprooted a motorist seriously jurisdiction firefighter suffered electric shock. >> the philadelphia eagles heading to white house winning first title in february the quarterback majority tell a mates visit president trump genuine 5 some may be missing jenkins -- would not accept a white house invitation for
political reasons. >> the cleveland browns, going to be featured on hbo season of hard knocks used first pick of nfl draft, quarterback sparking hopes for fans maybe can do better, there is this home mortgage rates jumped to highest level since 2011 could signal end of era ultra cheap loans strong economy inflation driving the trend, reporting yesterday average rate for 30-year fixed-rate mortgage rose to 4.61% this week, that is up from 3.99% as recently as january, back over to you. >> thank you so much coming up final thoughts from all-star people this morning back in a minute. ♪
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this weekend on wall street tonight join me a special program aisle be speaking with grants observatory editor jim grant along with gone sunday morning futures on news channel devin muñiz will join me for that special interview lee carter great to see you. thank you so much for joining us, thanks michelle. >> pleasure to be here.
>> thank you dagen. >> i can't wait to watch you this weekend. >> lots to talk about this morning. >> so much. have a good weekend. >> so much. "varney & company" starts right now. >> good morning everyone. here is the big story. the bombshell it's sinking in america's premier law enforcement agency spied on donald trump's presidential campaign. the fbi had at least one human inform map known as a spy. think about this, the campaign in full swing rough and tomb nbl extreme and one society is spied on by the other i'm sure this is tried in the past but this time around it was the fbi that was doing it in in late spring of 2016 about six months before the presidential vote fbi director james comey told white house officials that his people were watching trump's campaign. so the spying was okayed by comey's political masters the white house knew it be.