Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  May 22, 2018 6:00am-9:00am EDT

6:00 am
the dax index up six and seven points but the cac in paris is down four points. asia overnight, the hang seng the hang seng and the cost be closed for holidays. shanghai composite flat. down just a fraction. facebook ceo mark zuckerberg make another stop on his apology tour. this time before the european parliament. how he is expected to address the data privacy scandal in europe this morning. the report says it cannot recommend the automakers by a three sedan. starbucks outlining some grand rules for its new facilities policy. what will it will not be allowed when hanging out at one of the companies cafés. they spoke out about their concerns. they will attribute. chris terry and meghan markle's wedding unveils. have they honored princess diana as well. on those stories coming up tuesday morning. fox business network's dagen mcdowell, "wall street journal"
6:01 am
global economics editor john hall's not and connell mcshane. great to have you. good morning to everybody. >> great to see you. >> will talk about this later this hour. how starbucks is trying to dig itself out of its hole. here's a line on the front page of "the wall street journal." starbucks draws the line at drugs and sleeping. that is how desperate starbucks is. you can't go in our bathrooms and use drugs or sleep. maria: it is going to be weird to have anybody coming and using the bathroom. a big turning point. >> i was going to go around to every starbucks in the city and go to the bathroom. maria: that's what i'm saying. why would anybody do that. dagen: this is like the new york perspective. because around the country people used to drive through starbucks. a lot of them never go in the
6:02 am
coffee shop. in major urban areas it is a problem. particularly new york city but the public restrooms are not readily available. maria: we'll see about that. a lot on the table in terms of business and economics and trade. your commerce lament and small business owner tennessee congressman diane black is with us as well. chuck robbins here this morning along with senior adviser to clinton and managing partner mark penn is with us this morning along with whitewater independent counsel robert ray. fox news senior strategic analyst retired general for sir general jack keane here as well. don't go anywhere. stay with us. right now with china announcing it plans to cut import tariffs on automobiles from china effective july 1st. they've reportedly agreed on a
6:03 am
broad outline of a deal that would save chinese telecom giant ctt according to "the wall street journal" on until the job administration would lift the ban on u.s. companies selling hardware and software to ctt. in exchange they will make changes in management and pay fines. speaking from outside the white house, treasury secretary stephen mnuchin defended the decision to keep dte alive. >> i want to be clear. people are kind of making this too big of a deal. let me be very clear. first of all, not a surprise president xi asked president trump to break into zte. we are trying to put the company and enforce the behavior. jon hilsenrath with us this morning. her thoughts on the deal for
6:04 am
zte. with the auto terrorists are coming down and with the broader parameters of the deal they announced yesterday with the chinese say they are going to be increasing the imports agricultural products. when you add all of this outcome it doesn't look like the u.s. is getting a ton. we are getting a little bit more on the export side and a little bit more on agricultural and energy products. maria: in fact, when you look at the important issues as it relates to china, not doing anything at all for american business in the steel and that is the best of intellectual property come in the forest transfer that china does from american companies, even the opening of markets of issues.
6:05 am
>> i wonder how president trump's constituency will look at this. when you look at zte, there's a big effort to keep the company afloat. how many american companies have basically closed down and shut down over the last couple decades because the competitions from china. it's a slightly different issue. talking of a break-in or sanction roles on iran and north korea. how many of our companies never got to see the light of day. >> there was a spot between the deal looking like it's driven by those who really crafted terms trade policy and that would be 100%. >> if you look at it from the
6:06 am
treasury secretary's point of view, the supporters would see it. in the farming community and the united state in the midterm elections this year in the reelection in 2020. and a deal being hammered out can help them. the second thing on the screen right now been talked about this holding back the market on trade. looking like you're moving towards a deal even though i agree with the larger point that will help you in terms of the stock market. the auto terrorists be listed here as we could make too much of this are people looking at it could make too much because remember a lot of the cars, a high percentage that are sold by u.s. automakers in china are not imported. many of them are manufactured in china so would not be subject to tears to begin with.
6:07 am
a pretty easy day for terror first announced march 1st. the three to four-point gain on the dial. the dow has really been kept in check by this. this is a spot that we started. any pain that farmers in the united states were feeling were china immediately is guarded sourcing soybeans, corn and pork in recent weeks with other suppliers. this is a fight that we started. trenching of the u.s. is raising tariffs on chinese dealership from vietnam in order to evade anti-dumping duties. this is a 25% tariffs to the united states. they are raising on that particular area. dagen: one thing i want to point out about zte because they talked about it at length on this program. we are saying that we will
6:08 am
remove the ban on u.s. companies selling return, it zte would be forced to make changes and possibly pay significant fines. my question is how is this any different than the punishment lead to begin with. zte originally paid one point to $5 billion fined and punished employees responsible. china and zte basically lied about it. they didn't care that the punishment and then they got caught in a sudden punishing employees to iran and north korea, they paid them bonuses. they got paid bonuses. >> the bottom line is they go to beijing. part of the set of demand they stop stealing our intellectual property. in the chinese demand was held
6:09 am
zte reversal point wanted. >> the thing that puzzles me as we talk about all the infighting with the president's advisers. he was the one who kind of started this whole spat. he also said there's going to be a little pain involved. americans have to be patient with the pain that comes from this. now here we are a few weeks later. everything you see your reader report on that the only thing. not the only thing that the only thing he cares about is the trade deficit. he sees it as a scorecard and how things are let back. he's not going to get the 200 billion. but if you can get the number to come down, he can claim the jury. >> i think he does care about these issues and the ip about
6:10 am
technology. he is trying to make the trade deficit sort of the gauge is due to get anything done. if it goes to 200 billion, it looks better. train three to 200 billion reduction in our trade deficit. we only exported $170 billion a year in china. you can't financially more than double what we are the export to china. what did we get? talking about agricultural projects increasing by 35% to 45% a year. that's a billion dollars a year. going from 200 billion. let's put a number on this. >> these are global commodity markets. china they liquefied natural gas from liquefied natural gas from us, but these are global markets by hamas from somewhere else. the price doesn't change.
6:11 am
the prices in changing we don't end up getting it. train three was the wonky economic? fungible. >> we all agree the u.s. is getting the bad end of the steel once again. we are not addressing the most important things for the american economy. the i.t. staff and transfer of technology. that's just been addressed yet. maybe there's more to come. >> it is a near term versus short term. >> you can't talk about this without talking about her career. maria: good point. you're absolutely right. >> maybe they just want to put this on the sideline. trade do they want to get through june 12, the north korean summit. dagen: the administration are not messaging that's right. maria: because they don't want to conflate them and put them together. but we know this is part of
6:12 am
that. the north korean situation. meanwhile, there's mark zuckerberg imus apology tour set to apologize again today to european lawmakers. the ceo of facebook to testify before the european parliament later today. it may prove more challenging than last month. data privacy a much bigger priority in europe. they open this up earlier than the u.s. did. maria: he's going to feel more heat in europe in terms of where they stand on privacy and probably their knowledge of it. when mark zuckerberg was in front of congress, all he had to say was senator, congressman or congresswoman and it was kind of laughable because a lot of these lawmakers here in the united stated clearly didn't understand how facebook worked. >> it'll be interesting. >> sword is similar to watch,
6:13 am
but the difference here is that people in europe. the people watching this. the people there probably care more about these issues than we do as a whole. a lot of people here are willing to put up with invasion of privacy is. >> will be watching all of this attack in china in the u.s. the world's most viable company doesn't talk this year's list of largest companies. find out which is number one in the historic milestone. prince harry in meghan markle released their official wedding photos. they will also attend first engagement as a married couple, another very royal bash. back in a moment right here. the
6:14 am
so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. this scientist doesn't believe in luck. she believes in research. it can take more than 10 years to develop a single medication. and only 1 in 10,000 ever make it to market.
6:15 am
but what if ai could find connections faster. to help this researcher discover new treatments. that's why she's working with watson. it's a smart way to find new hope, which really can't wait. ♪ ♪ a trip back to the dthe doctor's office, mean just for a shot. but why go back there, when you can stay home, with neulasta onpro? strong chemo can put you at risk of serious infection, which could lead to hospitalizations. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day, so you can stay home.
6:16 am
neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache. so why go back there? if you'd rather be home, ask your doctor about neulasta onpro. maria: welcome back. it is primary day. going to the polls today. cheryl casone with the details. dream for you, maria, good morning. heading to the polls in texas, arkansas, kentucky and georgia. michael williams looking to write his deportation bus straight into the republican
6:17 am
nomination for governor. take on four others in the gop primary. there are all of these contenders to watch. arkansas, incumbent governor hudson facing a challenge from jim morgan. ahead of tonight's race. and there is -- there is the tweet from donald trump. let's take a look at what's happening in kentucky. the sixth district to take on gop representative with the run-up election in texas. a lot going on. wal-mart taken the top spot in "fortune" magazine's annual fortune 500 list of the largest corporation. wal-mart make analyst for the 14th time sixth year in a row last year became the first company in u.s. history with $500 billion in annual sales.
6:18 am
the number two spot this year wanted not berkshire hathaway, apple and united health group. amazon moves into the top 10 for the first time and is ranked eighth. probably not a big surprise for you. wal-mart stock is down 15% so far this year. but a big win for them in this anyways. sony becoming the world's largest music publisher. the company taking control at emi to the tune of $2.3 billion. a catalogue of 2 million songs from artists you know that condi was and sam smith. seeking to take advantage of streaming music services like spot of five and apple music which is filled a recovery in the industry. sony is up 8% for the year. and then there's this. prince harry in meghan markle will attend her first royal engagement as a married couple today. the brand-new duke and duchess would take part in the celebration of prince charles of
6:19 am
wales birthday. these are the official wedding photos that we finally got to take a look at. and there's one where they are honoring harry's mother with the photo. heading out for a photograph of the same green couch for prince harry's christening back in 1984. breaking news, maria. i finally watched the royal wedding yesterday thanks to my dvr. and i agree with everything dagen said. everything she said she's right. the dress, the hair, we had a chat about it. maria: do want to tell us more? dagen: you can only be so mean. >> why do you have to be a hater? i'm predisposed to be a hater. dagen: since you clearly weren't watching the show yesterday, my mother taught me one thing that your success and self worth are not defined by a chair on your head or a man on your arm.
6:20 am
that's the way i feel like i do about royal weddings. maria: their story is so nice. people who watch it are. the end-all be-all she married a prince. yeah, a low-level prints. maria, on. they marry who they want to marry. give them two years. >> remember there's a special place in for women who do not report women. here's something coming out. former presidential candidate hillary clinton during her support behind andrew cuomo for governor of new york. and then tesla finding out why consumer reports say you might want to think twice about the model three. back in a minute right here.
6:21 am
♪ what is an act of mutuality? for a single mother, it's preparing her daughters for the curveballs life throws. ♪ and it's guarding a family weekend- letting calls go to voicemail. ♪ it's planning so by the time this little guy's ready for college, she will be too. ♪ and it's sharing this retirement, with those who make life worth living. ♪
6:22 am
every way we look out for those we love is an act of mutuality. we can help with the financial ones. learn more or find an advisor at massmutual.com this is a jungle gym... and a baseball diamond... ...a mythical castle ...and a grand banquet hall. this is not just a yard. it's where memories are made. the john deere x350 select series with the exclusive one-touch mulchcontrol system. nothing runs like a deere™ save $300 on the x350 select series™ tractors with the purchase of a mulchcontrol™ kit. save $300 on the x350 select series™ pah! thano, no, no, nah.k. a bulb of light?!? aha ha ha! a flying machine? impossible! a personal' computer?! ha! smart neighborhoods running on a microgrid.
6:23 am
a stadium powered with solar. a hospital that doesn't lose power. amazing. i like it. never gonna happen. 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®.
6:24 am
maria: welcome back. rolling back regulations the dust is set to vote on legislation to undo parts of dodd-frank. the largest change to the bill since it was enacted in 2010. house financial services and member claudia tenney. good to see you this morning. thanks for joining us. your expectations for the vote. >> i think it's going to pass and we talked to the president yesterday at another bill signing about coming back thursday to make this law and we are excited about it. it's not going to do everything we want, but definitely a big step forward in reducing
6:25 am
burdensome regulations imposed on our small community banks, credit unions and increased funding opportunities for small businesses among which are really important. they create 70% of new jobs in my community and it's going to be a great enhancer to the tax reform, which is grooving to be a real winner for small businesses in my community. maria: it is crazy to have a small bank on the corner face the same exact regulations that the global banks like the jp morgan's of the world face as well. but totally different balance sheet. >> we've lost so many small community banks that there is grass growing. tumbleweed grass growing oliver the plays. it is really sad when you see all the things that used to be your neighborhood banker. they longed. they long to our local farmers, small businesses, got everybody there starts have been eliminated and we are moving a step forward to bringing those
6:26 am
back and giving more opportunity for small businesses. and just individuals. if you're able to work now to even get mortgages. the banks were so limited before that even regional banks will benefit from this. we'd like to go further, but kudos to my chairman whose terrific. jeb hensarling. >> a little bit further. some from fellow republicans said the most hated components you might say from a republican point of view of the cfp view other things to remain in place despite the past. would you say to the criticism that it does not go far enough? >> my frustration is a conservative in washington is fit to go two steps forward and one step back. i'd rather be hitting singles than sitting in the home run derby that doesn't count. this is a good thing for us, moving us forward as we continue to fight to roll back regulations.
6:27 am
by the way, to those picked up her mind. as a freshman member of excited to have two substantive bills passing and become a law hopefully thursday when the president signs it. maria: that's wonderful. before you go, john. the battle in their own home state, actress cynthia nixon taken on governor cuomo in the democratic primary. another reports that hillary clinton will endorse cuomo after controversial comments from former secretary of state madeleine albright. remember this on the 2016 campaign trail. >> hillary clinton will always be there for you. just remember there's a special place in for women who don't help each other. [cheers and applause] your reaction, congresswoman. >> first of all, she's not there for me and she never was as their senator. it's a beautiful marriage that the queen of pay to play is now understand the king of pay to play in to see where that got you. andrew cuomo has nearly destroyed the new york state
6:28 am
economy with the aggressive progressive regime that has caused our small businesses to close and many to leave. we have over a billion spams in what i call cronyism pay to play money. a federal corruption charges that are trials that are carrying on this year during his campaign. we have the largest migrations of people in the entire nation. but it would have for a billion was spent in cronyism? dead last in job creation. thank god for the tax reform giving a little bit of hope to our businesses and home grown small businesses like my own and many others. been hanging out in new york and trying to make it work in president trump, kevin brady, we've been trying to keep it a little more business friendly. i'm really excited about that. i'm not surprised at all the two establishment crony us will have a beautiful marriage. >> they go back in the bill
6:29 am
clinton administration. >> agents used in he worked in the clinton administration during the time when we had a problem with the housing crisis and what caused dodd-frank to be thrown through by the democrats is very interesting. maria: he was the head of hud. >> yes,. >> i want to go back to the bank bill that's going to pass. can you point out the one or two specific provisions in the bill that matter to move the regulatory landscape with the small banks on stress test. what are the one or two things you think move the ball on this bill. >> you ask me to talk about my two bills that i of course think are very important. just the fact we are willing back in so many places, you mention stress testing with a little relief to the banks on that side of it. especially one of the things i'm supporting it is stress testing
6:30 am
relief on small community banks. instead of having to go through the stress test and examination, the local banks we have, bank of utica which is one of the great banks of my community. they only have to go through an 18 month regulatory process instead of 12. with less than sort of the load on businesses on small banks. when it comes to lending, commercial lending resident. those things well. i was a big attorney. i've represented a number of banks back when i was practicing law. i know how difficult it is to go through the process and get small to consumers even on the mortgage side. maria: that's terrific. claudia tenney, congratulations, thank you very much. joining us in d.c. another deadly tesla accident to tell you about. it's a self driving feature to blame for a vehicle running off the road and in to a pond in
6:31 am
california? upscale coffee shop or hangout for the homeless? that's the question. some are asking a starbucks after the customer policy was revealed. we've got concerns. coming up with us. ♪
6:32 am
6:33 am
6:34 am
maria: thanks for joining us, happy tuesday, i am maria bartiroma. it is 6:33 on the east coast. easing trade tensions, china cut tariffs on auto imports while beijing in the us strike an agreement over cte. markets look to extend gains yesterday, futures and get a strong opening, down the street 50 points, nasdaq up 26. the dow rallied strongly, closing above a 25,000 mark. nasdaq and s&p posting strong gains on the day. in europe, needed action, the s&p is up 11 points, the cac quarante down 5 and the decks
6:35 am
and except 13, very much a fractional day this morning. markets little changed as well. hang seng and cause be closed for a holiday. and flat on the session. donald trump meet with law enforcement officials, the justice department agreed the inspector general to investigate irregularities in the trump campaign pro. mike pens applauding efforts of the ig. >> we are confident as the inspector general has been doing their work looking at conduct of the fbi during the. adding their focus to the bottom of it because the american people have the right to know. maria: the latest coming up. tesla facing a speedbump, consumer reports is a cannot recommend the automakers model 3 sedan. we will tell you what is stopping that recommendation. bathroom backlash, comments from employees and customers,
6:36 am
starbucks needs to clarify its policy on hanging out in its cafés. the space race he took a meal on musk shows up space x's pod that will transport humans to outer space. all that coming up but first our top story, donald trump meeting with justice department officials to address the ongoing russia probe investigation after the white house requested the inspector general to expand the program allegations of an fbi informant for the 2016 campaign and reports of misconduct. martha maccallum got mike pens's take on allegations of spying and infiltrating during his campaign. >> the department of justice made clear they will be expanding the inspector general's current investigation to include these allegations. we don't know what happened, it is all very troubling to those of us that hold the fbi in such
6:37 am
high regard that there are allegations people were assigned to surveillance by on our campaign. >> nick johnson, good to see you, thanks for joining us, your reaction? >> a lot of unpacking what is going on. unprecedented steps of the pres. looking at these allegations, important to look at how the expanded allegation is framed, improper attempt to infiltrate or surveilled trump campaign. they were behaving, looking at what is going up in this entire moeller investigation. and determining whether this was politically motivated or justification to look at what
6:38 am
the tramp trump campaign will do. >> there was absolutely 0 official intelligence used to launch an investigation into collusion between donald trump and the russians and we know about the bias at the top of the fbi. >> the investigation seems perfectly appropriate. the ig has power to look at these things to figure out if these decisions were made improperly, politicization on both sides, to determine what happens. when the ig delivers his report both sides look at that and say that is a determination or more for additional investigation. maria: the ig don't have subpoena power, prosecution power, there are ongoing investigations of this, they give documents to better
6:39 am
understand, and the trump campaign. and an informant. >> we saw movement with the justice department agreeing to turn over additional documentation as part of that investigation. there is good tension between the legislative and executive branches, and members of congress looking at this, more of that in the future. maria: white house top trade advisor peter navarro said the suspected fbi informant on the trump campaign recommended the person for senior role in the administration. >> in that transition scores of resumes, it is important to see how close the informant was involved in relationships in the campaign and donald trump take this personally, he is watching closely and what we learned about this informant being in the administration to see how close the fbi was
6:40 am
following the campaign. dagen: peter navarro is sidelined by steve mnuchin, trade talks with china. it is not a leap, for standing, more potentially. >> i would not take it to the conspiratorial level. dagen: knowing personalities. >> i went to get to motivations whether it makes him look good or bad. the pres. looks at this and is concerned how involved in looking at the campaign and the news we broke shows how close that was. maria: pretty incredible this guy can get so close as to be recommended for a position in the administration. what devon nunez said was they actually paid somebody to go
6:41 am
into the campaign, schmooze people, get information and go back and report back, that is a clear red line that was crossed. that is what the chairman of the intel committee said. >> the ig will look at whether the motivation was for legitimate investigatory all purposes and what the russians were trying to do or whether there was political motivation. >> the question how or why the informant would be close to the administration because of the present's position that was established, or because that person was an informant and it seems that would matter as to why you got so close to an administration and nearly got a job in the administration. >> the reporting around this informant said they were involved in many administrations, a long-term career in academia, it is natural they would be on the list. maria: house republicans want a second special counsel to look deeper into hillary's personal server on the ongoing russia investigation, that is another
6:42 am
thing devon nunez is looking at and we are looking at hillary clinton's first email. >> a special calls for additional special councils to wander around town to follow that up. and it will be on the hill in those committees. maria: next johnston coming from the white house to a screen near you, a production deal with netflix could have him on some shows producing others. we will tell you about it. and elon musk's human is closer to reality. he is showing up incredible images. back in a moment right here. [music playing] (vo) from day one, we always came through for our customers. it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers.
6:43 am
so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com with dell small businessout your technology advisors start winning today. you get the one-on-one partnership you need to grow your business. the dell vostro 15 laptop. contact a dell advisor today.
6:44 am
if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... 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. so, my portfolio did pretthat's great.year. but the market was up nearly twice as much. that's a tough pill to swallow. exactly. so i started trading. but with everything out there, how do you know what to buy? well, i think my friend victor has just the thing for you. check this out, td ameritrade makes it easier to find the investments that might be right for you. like our etf comparison tool it lets you see how etfs measure up to one another. analyst ratings and past performance... nice. td ameritrade also offers access to coaches and a full education curriculum to help you improve your skills.
6:45 am
that is cool. and if you still have any questions you can always chat with us on facebook or call our experienced service team, 24/7. yep. just because you're doing it yourself doesn't mean you're on your own. that's great. you're still up. alright. you're still up. if i knew you were gonna run the table i wouldn't have invited you over. call (866) 285-1934. act now to take advantage of commission-free trades for 90 days, plus get up to an $800 cash bonus when you open and fund a new account. ♪ maria: tesla model-plaps crashing into a pond killing
6:46 am
one person. >> reporter: this is the first one. investigators are trying to find out if the model-plaps within autopilot mode when it veered off the road and crashed into a pond. the driver was killed when the accident happened in california, this on news federal authorities investigate if the tesla autopilot mode played a role in other recent crashes they are looking at. the model 3 sedan not getting a stamp of approval for consumer reports. not recommending the car after finding big flaws with breaking and difficulty in their testing of it. the model 3 is tesla's first entry-level sedan aimed at the mass-market. elon musk fight back, looks like tesla model 3 can be fixed with firmware update. we will be rolling that out in a few days. shares are higher ahead of "the opening bell". elon musk can smile about
6:47 am
something else, space x, musk stunned social media with a picture of a transport pond, the ship can be used in the future to send humans safely into space, heading to the station facility in ohio. there will be more testing done on this. netflix has two new producers who just signed former president obama and first lady michelle obama to a multi-you deal. the florida production company, higher ground production, scripted shows, reality shows, documentaries and features. obama once to work with netflix to increase empathy and understanding among people, terms are not disclosed. in the free market, up almost 1%.
6:48 am
no idea if they are doing anything political. maria: i would guess yes on the nature of who we are is talking about things in terms of politics. dagen: what was the prediction when obama left office? that he is going to be a talkshow host and i still believe that he will have his own show. maria: it is smart of them to be out in pop culture, to be the site guist of what people are talking about on netflix. >> nothing to do with that. >> what does it do with michelle obama's political aspirations? dagen: she has political aspirations? after eight years in washington, did you see the expression on her face? the inauguration of donald
6:49 am
trump? dagen: if you look at the photos even when she was having to deal with hillary clinton, she couldn't wait to get out. >> i agree with john, would love it to go back. >> i think she was dragged in to begin with. dagen: the fame and glory are a lot easier outside washington than inside. >> producing pieces for netflix. >> the champion of eating well. she is going to do pieces about the obesity epidemic. there is a series on netflix about the obesity epidemic in new zealand, reality show. a lot of documentaries, they will funnel a lot of money to documentary filmmakers. maria: starbucks getting into
6:50 am
hot water with a new policy, the rules could attract more homelessness than paying customers. the company is backtracking, we have details and clarification next. ♪ liberty mutual stood with me when this guy got a flat tire in the middle of the night, so he got home safe. yeah, my dad says our insurance doesn't have that. what?! you can leave worry behind when liberty stands with you™. liberty mutual insurance.
6:51 am
♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪ oh hi sweetie, i just want to show you something.
6:52 am
xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around.
6:53 am
maria: starbucks trying to explain a new policy following employee and customer complaints and backlash. >> reporter: starbucks trying to dig itself out of controversy by clarifying a policy towards nonpaying guests, the company saying it's new policy to allow all guests to use restrooms whether or not they make a purchase would be slightly modified to exclude
6:54 am
people who sleep or use drugs was the company has endured days of criticism some from customers a claim allowing nonpaying guests to hang out and use the bathrooms would turn the stores into homeless shelters and drug havens. others say their won't be enough seats for paying customers. starbucks clarified policy outlines how employees are supposed to deal with problems, guests requiring a fellow employee to verify it is disruptive and respectfully ask the guests to stop the behavior before asking them to leave. starbucks changed the policy after the arrest of two black men who wanted to use a starbucks restroom in philadelphia blues not the only company that deals with lingering customers. long promoted itself as a third place between home and work where people can hang out. it pioneered the idea that is generating controversy but online and in chat rooms a lot of people who work at starbucks
6:55 am
are nervous about the new policy, anxious that some of the restrooms in urban locations are fool of used needles, blood on the walls. it is graphic what they are saying online and they are concerned starbucks employee gets hurt. maria: why wouldn't anyone just going to use the bathroom anytime anywhere? >> reporter: people do that anyway, right? >> the drug issues may be larger. there is a mcdonald's on eighth avenue that has been talked about for years, and ordinary clinic that treats drug abusers and has become an issue because it is open all night, that is the type of thing from a business perspective that people worry about because it affects other people who are afraid to come into the restroom. >> they set themselves up as a third place, we want you to
6:56 am
spend the afternoon with us, they never -- people do work for a long time. the question is do you still do this and what does it mean for your bottom line? customers won't care if the bathrooms are clean which they aren't in new york city. starbucks bathrooms that i have been in in disgusting, if you can get a seat in a starbucks which is still a problem. people buy one cup of coffee and sit all day long at their computers and they make it there office. that is the big issue. people go through the drive-through, don't even go in the actual store unless they use the restroom. maria: what do they do in the afternoon? they have a hard time keeping traffic high in those hours, this would put more on that policy. maria: you can own one of the
6:57 am
most revered weapons, on solo's blaster going up for auction, and out of the world price tag, we have a preview in the next hour. ♪ ♪ tonight is going to be a good night ♪ tonight is going to be a good night ♪ tonight is going to be a good night ♪
6:58 am
sfx: muffled whistle text alert. i'm your phone, stuck down here between your seat and your console, playing a little hide-n-seek. cold... warmer... warmer... ah boiling. jackpot. and if you've got cut-rate car insurance, you could be picking up these charges yourself. so get allstate, where agents help keep you protected from mayhem... ...like me. mayhem is everywhere. are you in good hands?
6:59 am
7:00 am
>> maria: welcome back. good tuesday morning, everybody. thanks so much nor joining us. i'm maria bartiromo. it is tuesday, may 22nd. your top stories right now. breaking news, easing trade tensions, china announces overnight that it will cut tariffs on auto imports. the u.s. and china reportedly have an outline for a deal over chinese telecom giant zte. markets are looking to extend gains. the market will open up 50 points on the dow, up 30 points on the nasdaq. the markets were strong at the close. the dow rallied nearly 300 points in yesterday's trading session, closing above 25,000. the nays an nasdaq and s&p 500 o posted gains. muted action in europe. cac is down a fraction, dax index up a fraction. asia overnight, fractional moves, hopping kon -- hong kongd korea closed for the holiday.
7:01 am
building the border wall, president trump pushing stronger security at the southern border as funding for the wall faces setbacks. >> we have laws that are the worst anywhere in the world as far as stopping people from coming in but with that being said, we're down over 40% border crossings. we have $1.6 billion for the wall. we've made a lot of progress on the wall. but now we're going for additional funding and we need the wall for protection of our country. >> maria: we'll speak with one lawmaker who is launching a push to raise money through crowd funding for the wall. seeing the kilauea volcano from a new vantage point. take a look at the stunning images of the eruption from space. president trump taking p aim at the nfl, his comments about national anthem protests during a celebration for nascar's champion, that's coming up. plus, going bananas, a monkey on the loose on the tarmac.
7:02 am
the story coming up this morning. we've got all the details there as well. all those stories coming up this tuesday morning. joining us is dagen mcdowell, john hill dengraff and connell mcshane. >> get the monkeys out of there. i've always said that. >> maria: a lot going on this morning in terms of markets and trade. another big rally we're expecting, john. >> yeah. i think we could extend it. the market is looking at trade tensions settling down. we see that's something that's been hanging over investors for months. the trump administration seems to be backing down on its tariff threats and we've had -- we'll let the numbers -- long-run of up days in the market now. >> maria: we had the best performance yesterday in about two weeks, the market rally yesterday. >> dagen: in terms of the zte
7:03 am
deal where we agreed to an outline to settle the zte controversy where the ban will be removed on zte buying components from u.s. companies. marco rubio is out trolling president trump this morning. >> maria: he doesn't like the deal and he's talking about national security issues. >> dagen: china is out-234eg out-negotiating the administration is winning the trade talks, that's one of his tweets. >> maria: the u.s. is getting the worst end of this deal in this particular deal. there's nothing that addresses the i.p. theft and forced technology transfer. >> the president can put up with some of this with people on his own side and he'll get more of it, rubio and others. if the market kind of holds up, which i think is a lot of what this deal is about and also political consistent t sit whene american farmers will not worry about it. >> maria: there is debate about the deal.
7:04 am
>> i'm wondering what it is that the president wants and why we're not hearing more out of him right now. >> maria: i think it's north korea, june 12th. once that meeting happens, maybe they get tougher. >> dagen: the wall street journal editorial page has a favorable editorial about the trade deal. again, they've called them like they see them. >> the editorial page hasn't been with the president. >> dagen: they're very optimistic. they think it opens the door for greater trade between the two nations. >> maria: which is what steven mnuchin has been saying. coming up, diane black is in the studio this morning. chuck robins is also here this morning, along with takingwell group president, mark penn. robert ray is with us as well, along with retired four star general jack keane joins us as well. we've got a big two hours coming
7:05 am
up of. we begin with this breaking news this morning, a on u.s./china trade. china is cutting tariffs on auto imports and the trump administration reached an agreement to lift the zte ban. kevin cork has the latest from the white house. >> reporter: white house officials say this is precisely what the president meant when he said the days are over of our international trading partners over-mining america's wealth with one sided trade deals. the company has been tough with respect to zte, the chinese telecom giant, they're sort of a pawn in th the budding trade wa. they need u.s. parts to operate and beijing and washington have agreed in principle as you pointed out to an agreement that would open china to more exports in particular from ag, energy, even auto. in exchange, china will reduce some planned tariffs on u.s. products and lower some barriers to entry, an idea that is long overdue says the treasury
7:06 am
secretary, steve mnuchin. >> not a surprise that president xi asked president trump to look into zte. no different than president trump would call up any foreign leader if there was something that was important to us. we're trying to put the company -- we weren't trying to enforce bad behavior. >> reporter: he talks about incrementalism. let me tell you what marco rubio is saying. dagen made mention of it. sadly, china is out-negotiating the administration and winning the trade talks right now. they avoided tariffs and got a zte deal without giving up anything meaningful, using north korea talks and ag issues as leverage. this is not winning. white house officials say it's the only way, quite frankly, to get beijing to move, that is to try something different to get them to do something different. by the way, maria, don't forget, president moon is going to be here from south korea today. the president will talk about the upcoming talks with north korea and also some trade imbalance with south korea as
7:07 am
well. for now, back to you. >> maria: thank you so much. kevin, we'll be following that. we want to switch gears and get to crowd fund forge the border wall. diane black is introducing a bill called the border wall trust fund act that would create an account allowing public donations for construction of a barrier between the u.s. and mexico. president trump addressed the progress on the financing of the border l wal wall yesterday. >> we started the wall. we have 1 poin $1.6 billion fore wall. we started new sections. we started fixing large sections of wall. we made a lot of progress on the wall. but now we're going for additional funding and we need the wall for protection of our country. >> maria: joining us right now is house budget and weighs and means committee member, congresswoman diane black. thanks for being here. crowd funding for the wall, explain how this would work. >> currently if someone wants to send money to the federal government to help build the
7:08 am
wall, they can do so. but we don't have a dedicated fund for it. so what this does is it actually dedicates a fund so when the money is sent in it will be in that fund and specifically be used to build the wall. i hear all the time from my constituents and across the entire state, why are we not building this wall and there is real frustration that we've not been able to get this in the budget as the former budget chair. you i wanted to do this and we obviously in the house want to do it but we haven't been able to get the senate to go along with us. this is another way to fund the wall. >> maria: i think it's a great idea. it's incredible you've bought got the 4 -- you've got the $47 billion budget but you couldn't get the money for the wall. >> when it gets to the senate, it becomes difficult to get much done in the senate. so my twitter's been blowing up, my telephone in my office has been blowing up, people are like where do we send this money. and crowd funding was actually used for the washington
7:09 am
monument. i don't think many people know that, when they go to visit and there's plaques on the walk, there were o. an -- organization that's said we want to fund the completion of the monument and i think we ought to put plaques on the wall for various individuals and groups that want to fund the wall. >> dagen: what happened to mexico paying for the wall? americans shouldn't have to pay for it. >> that's a good question. that's a question that i can't answer fully for you. i know what i can do from my perspective is to help in any way we can to put dollars there to make sure that as the president says, let's keep the united states safe. >> did you know that come in? did you know that when the president was talking about it. did you know that we would be paying for it? >> did i know that- >> that the u.s. would end up paying for it. >> that would mean i could see into the future. i can't do that. i do think there's still
7:10 am
negotiations going on, again, that's not something that i'm privy to he know. >> maria: you're saying mexico could end up paying some with the nafta negotiations? >> i think there's lots of things going on behind the scenes with negotiations that we don't know about. it's probably good we don't know about it. that's what you do, when you negotiate, you negotiate behind closed doors. >> there was a talk about a deal for doing funding for the wall in exchange for the dreamers act. is there a chance for that happening in. >> the president invited the democrats, the republicans, and even the media. it was the democrats that stopped the conversation. there is still conversation going on. obviously that's been one of the things that's been the issue this last week in congress about where do we go next with daca. >> maria: this crackdown on illegal immigration, yesterday tennessee's governor said he would allow legislation banning sanctuary cities in his state to
7:11 am
become law without his signature. what do you think about this? local law enforcement needs to hold illegal immigrants for deportation. you represent constituents in tennessee. your take on this. >> i do represent constituents. i'm also running for governor. i will tell you that when the govern nogovernor was hesitatint signing the bill, i came out publicly and said i believe that we need to pass this bill. i passed a measure here in the house of representatives to do that. so i believe that we have got to get serious about making sure that borders are secure but if we're not going to secure our borders, we're going to do it in the state of tennessee and hold illegal immigrants, especially those who are criminal and have been arrested accountable. we have to make sure we keep people in our state safe. >> maria: there are cities and states that blow-off federal law when it comes to this. i've got to get your take on the budget and the rescind package. where does that stand?
7:12 am
the president wants to claw back $15 billion in federal spending, facing head winds in congress. some la makers are -- some lawmakers are concerned the democrats could use the rescind package against them in the midterms. >> it's so simple. i can't imagine anybody not thinking this is a good idea. we apr appropriate dollars. the dollars are appropriated for that issue. when that money is not used for that issue -- like in your budget. if i'm going to buy a refrigerator. if it costs $100 less. i don't leave the money in the envelope. i take the money out of there and put it back into the treasury, back into my account. and that's simply what we're doing. we haven't done this in the eight years i've been in congress but it's been done by democrats, it's been done by republicans. take that money and put it back in. i'd like to take that money and you know how i am about this, i'd like to start paying down our debt is what i'd like to do. >> maria: what happened with that whole omnibus bill?
7:13 am
conservatives were wildly upset by all of the spending in the last budget. you weren't the chairman overseeing that at this point. how did this happen? >> i'm disappointed with republicans and democrats about the spending. i'm a fiscal conservative and as budget chairman i passed the most conservative budget in 20 years. i passed it out of the house. it didn't pass in the senate. we are not serious in congress about paying down our debt and not continuing to build debt. at some point in time we're going to have to become serious and it's very disappointing, both democrat and republican, that we could argue about something that's so simple. the money is sitting where you can't use it for anything else, take the money, put it back in the treasury or better yet, pay down our debt. >> maria: how likely is it that that happens? >> i think at the end of the day it's going to happen. it's going to happen. >> maria: congressman, good to see you. coming up, the volcano erupting in hawaii, causing havoc on the ground.
7:14 am
the images from space show just how devastating this natural disaster really is. the incredible pictures coming up. a monkey is safe and sound after escaping from his cage in san antonio's airport, spending two hours on the loose. we'll have details coming up. the demand for lithium is set to increase substantially over the coming decade. the mineral resources that are needed to 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
7:15 am
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. metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with new everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- mbc, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai. diarrhea is common, may be severe, and may cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection.
7:16 am
verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. serious liver problems can occur. symptoms may include tiredness, loss of appetite, stomach pain, and bleeding or bruising more easily than normal. blood clots that can lead to death have also occurred. talk to your doctor right away if you notice pain or swelling in your arms or legs, shortness of breath, chest pain or rapid breathing or heart rate. tell your doctor if you are pregnant, breastfeeding, or plan to become pregnant. common side effects include nausea, infections, low red and white blood cells and platelets, decreased appetite, headache, abdominal pain, tiredness, vomiting, and hair thinning or loss. i'm relentless. and my doctor and i choose to treat my mbc with verzenio. be relentless. ask your doctor about everyday verzenio. >> maria: welcome back. uber facing a sexual harassment lawsuit from a former employee. cheryl casone on that now in headlines. >> cheryl: ingrid vendoyo claims
7:17 am
she faced years of sexual harassment from coworkers along with race discrimination. when she reported her complaints to uber the youtube they failed- youtube they failed to take any -- uber, they failed to take any action. meanwhile, uber rival lyft is looking into launching an electric scooter service. the company's planning to apply for a permit to run the service to begin in san francisco. they have been pro po prototypig scooter designs. there will be a one year pilot program that will grant permits to five companies for 500 scooters each. stunning new pictures of hawaii's kilauea volcano from space. astronauts on the international space station took photographs of the extent of the explosion. officials are warning now that lava is nearing the island's
7:18 am
geothermal plant which could result in the release of dangerous gases. there are mandatory evacuations at the plant and the surrounding areas, happening overnight in hawaii. well, finally to san antonio international airport where a monkey escaped its cargo crate and had a little fun. cell phone video shows it trotting along in the baggage area, just hanging out. this is a 1 10-year-old monkey named dawkins. it decided to have a little fun in san an tone h san antonio bes caught. he was sent to his known home at the born free primate sanctuary. he's a little tired from his brief run-around at the airport. >> maria: funny. >> cheryl: a little action, monkey business. i love it. >> dagen: which airline or freight carrier let the monkey get out of the cage? was it american?
7:19 am
not united. >> they dragged him off the plane. [ laughter ] >> dagen: known for, i don't know, thre three quarters of the deaths of dogs carrying in cargo every year, although they only carry one quarter. >> maria: most recently putting a dog in the overhead. >> dagen: a flight attendant that killed the family's dog. that's dangerous, though. it's certainly dangerous for the primate. >> maria: glad the monkey is safe and sound. we'll take a break. when we come back, stabilizing the smith, south korea's president is in washington today, helping to set the stage for the planned meeting between president trump and north korea's leader after threats by kim jong un to call it off. then the commander in chief well cops nascar's reining clamp to the white house while taking a shot at the nfl national anthem controversy. we're back with that, next. ♪ my love don't cost a thing.
7:20 am
♪ so, you guys have recently started dating... -yes -yes cool. i want to show you guys three chevy suv's. the first one is called the trax, great for when you move in together. -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. we always came through for our customers. from day one, it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers.
7:21 am
so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. never owned a business.e term "small business," there's nothing small about it. are your hours small? what about your reputation, is that small? when you own your own thing, it's huge. your partnerships, even bigger. with dell small business technology advisors you'll get
7:22 am
the one-on-one partnership you need to grow your business. because the only one who decides how big your business can be, is you. the dell vostro 15 laptop, with 7th gen intel® core™ processors. oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you.
7:23 am
this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. >> maria: welcome back. crude oil continues rising up another quarter of a percent this morning. u.s. oil futures trading above $72 a barrel now. hitting the highest level in three and-a-half years. investors fear the u.s. could impose new sanctions on key oil exporter venezuela, following the election sunday that mike pence called a sham. joining us right now is steven shore. thank you for joining us. your thoughts on the -- if we were to see new sanctions against venezuela, your thoughts on how high oil could go? >> oil could certainly go upwards of -- we know the economy can afford oil at another $8 a barrel higher. so pushing wti close to $80 a
7:24 am
barrel. i'm skeptical we'll see that but it is a possibility. certainly if this administration takes the step of banning the oil trade with venezuela, this would put five companies here in the united states in a very interesting position. of course, we have citgo which is owned by the state of venezuela. we have pvf, chevron, conocophillips and valero which in total import about 785 million barrels of oil -- excuse me 785,000 barrels a day of oil from venezuela. this certainly is supportive of price. i want to keep in mind that the oil that we do import from venezuela is a heavy sour oil. that has no relation to the knee mention contract which is -- nymex texas, so it's a different type of oil. this would have no impact on the supply delivery mechanism of the underlying futures contract but certainly from a political perspective, it certainly is
7:25 am
supportive of price. >> maria: john? >> i want to ask you about a gap that's showing up in oil prices right now. we see brent prices quoted close to $80 more these days. west texas is in the low 70s. why is there such a big gap in u.s. oil prices and internationally traded prices like brent right now? >> here in the united states we have too much oil and we don't have the capacity to get it where it needs to be in the eagle ford and permian basin in west texas, when we look at the price differentials to the price in oklahoma or the price in houston and the export market for oil, those price differentials with west texas oil trading at a steep discount, last week $12 below the price of w ti, this is because we don't have enough pipeline. we are producing a lot of oil. we can't get the oil where it needs to be. this is keeping the price of wti
7:26 am
relatively lower as opposed to brent. keep in mind, we were all talking about the high quote, unquote oil prices but demand for gasoline has never been stronger and at this time of the year demand for crude oil has never been stronger. the brent market which is more of a factor based on geo politics, what's going on in the middle east, is reflective. it's the glut of oil in the united states, it's the geopolitical risk outside of the united states, hence why that gap is wide and why it is growing. >> back to the original comments to maria about what the economy can -- to use your words, steven, handle, so 72 for west texas crude, so it's 80, can you expand on that a little about where it becomes a problem for the economy? >> sure. $80-barrel, so about $8 higher is going to translate to about another 16 to 20-cents a gallon at the pump. that will get the national average up to about the mid-3s, so $4 up there in new york, $4 in philadelphia, maybe $3.25 down in birmingham,
7:27 am
alabama. but what we know in the past, that the consumer begins to really alter their behavior when the price approaches $3.50, $3.60. >>$3.60. that's when demand fallses off. anything in between here and upwards, the economy in the past has demonstrated its ability to absorb these prices. i would say there's another $8. now, of course the big difference between now and 10 years ago when we last saw these prices at the pump was we're driving a lot more hybrids on the road, a lot more electric vehicles, and so forth. so our demand he'll has at a ele changed. if we get to $80, the economy is going to approach the danger zone. >> maria: all right. we will leave it there. steven, good to see you. >> thanks, maria. >> maria: coming up, a shift in strategy for best buy. the new subscription service keeping the company's geek squad at your fingertips, that's coming up. a super piece of hollywood member by ya hitting the auction -- memorabilia hitting the
7:28 am
auction block. ♪ >> maria: a costume worn by the late christopher reeve as superman p could bsupercould be. we'll -- superman could be yours. we'll take a look at some other iconic items up for auction coming up. ♪ we'll have a house party. ♪ we don't need nobody. ♪ turn your tv off. ♪ [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible.
7:29 am
[hero] i'll take my chances. i had severe fatigue, became diagnosed with hodgkin's lymphoma. he was a good candidate for immune therapy, which is allowing his immune system to attack the tumor. learn more at cancercenter.com when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat.
7:30 am
because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. this is where i trade and manage my portfolio. since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities - trade confirmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you.
7:31 am
>> maria: welcome back. good tuesday morning, everybody. thanks so much for joining us this morning. i'm maria bartiromo. it us tuesday, may 22nd. your top stories right now, 7:3. high chi china has cut tariffs n auto imports. there is an agreement over chinese telecom giant zte. we are expecting a pretty strong open with the dow industrials up 50 points and the nasdaq up 21 points. this after a strong day yesterday. the dow rallying nearly 300 points in yesterday's trading session. closing back above 25,000. the nasdaq and s&p 500 also posting strong gains on the day. s&p up 3/4 of 1%. in europe this morning muted action. take a look at the european indices which are all higher by a fraction. cac up 3 points and the dax up 54 points. in asia overnight markets little
7:32 am
changed at the close. the hang seng was closed for a holiday. the others very fractionally moving. talking strategy with south korea. president trump is set to meet with his south korean counterpart at the white house today as north korea prepares to implode its nuclear test site ahead of planned -- that planned summit between the president and kim jong un. >> i don't think president trump is thinking about public relations. he's thinking about peace. he's thinking about how we achieve what has eluded successive american administrations. it would be a great mistake for kim jong un to think he could play donald trump. >> maria: we have the latest coming up. from the winner's circle to the white house president trump praising nascar fans for their patriotism and taking a jab at the nfl. best buy is rolling out a subscription service nationwide for its geek squad. how much it will cost you to get
7:33 am
technology support for all of those gadgets you have year-round. plus, your mailbox may soon smell sweeter. the pos tar service is -- postal service is bay duing a scratch and -- is debuting a scratch and sniff stamp. first, this top store industry. the latest on the korean peninsula. south korea's president is set to meet with president trump in washington today ahead of president trump's planned summit with kim jong un in singapore on june 12th. there is uncertainty that the meeting will happen now. but north korea is destroying a nuclear test site in full view of expwrurn lift journalists fre globe. we got mike pence's take on north korea. >> what the president's made clear is that we need complete and verifiable and irreversible denuclearization and there's opportunities and benefits for north korea once we reach that point of no return. it all begins with north korea
7:34 am
committing to complete denuclearization, taking concrete steps to achieve that. >> maria: joining me right now is fox news senior strew tea stc analyst, retired general jack keane. thanthank you for joining us. your thoughts on all of this in terms of what we're seeing and hearing from vice president pence. >> well, what taken place here with president moon's visit is they're going to check notes and see they've got a common strategy with the u.s. going into the summit talks with kim jong un, assuming that will take place, and also i think with both their advisors in the room, they want to try to understand what has happened recently here. here you had kim jong un racing towards an increased level of diplomacy that we have never, ever seen before heading towards a summit with the president of the united states and proclaiming that he's going to
7:35 am
denuclearize and then all of a sudden he puts the brakes on. our president believes it came as a result of the second visit, most recently to china. i know he's talking to prime minister abe in japan. i was there with him a couple of weeks ago and they have concerns about the south koreans being too much in the orbit of china and being careful with them and i'm sure that president trump is fully briefed on all of that. so i think he's making certain south korea and u.s. have a common position. they're seeing the landscape as it pertains to north korea and china the same, so that we can move forward. >> maria: because even getting kim jong un to the table was a surprise to so many people. do you think part of it was that he was afraid that the u.s. was getting stronger in terms of its relationship with south korea, with china, with japan, all of the neighbors to north korea? >> i think fundamentally two things really happened.
7:36 am
that's part of it. but the major issue is clearly the maximum pressure that has economic impact on the regime and also the credibility of president trump putting the military option back on the table and kim jong un has got the real -- has got to realize what president trump is saying. simplistically essaying listen, give me your nuclear weapons and if you choose not to, i'm going to come take them. and that is the thought that they have planted in kim jong un's mind and i think it has much to do with the sense of urgency he has been displaying. we've got to find out now if he actually has changed his intent and he's going back to the old playbook that north korea has always had in the past and that's the concern certainly that the administration has had. the good news is north korea's diplomats are working with us and making progress towards the summit. they haven't shut any of that
7:37 am
off. >> maria: we've been talking about china much of the morning this morning, general. how much do you see a idea pro quo going on if you will, because now the u.s. is talking to china about coming out with a deal around zte. it feels like the u.s. is on the losing end of another l deal here with china because while china may be buying more stuff from the united states, we have yet to fix the issue of china stealing i.p., intellectual property here in the u.s., as well as forcing u.s. companies to hand over their technology to the chinese companies, their counterparts. the chinese won't even admit that they steal i.p. how much of this is doing a deal on trade, if china comes across and helps with north korea on june 12th, maybe the u.s. gets tougher with regard to those issues after june 12th. >> well, i'm going to take the page out of secretary mnuchin's comments when he said look at, this is the beginning of a
7:38 am
process here and don't hold us to these numbers that are flying around in the media. he said everything is still on the table in terms of the trade deficit, the technology transfer and the stealing of intellectual property and certainly zte, while the president issued a tweet that looked like we had immediately folded, that was pretty much corrected and said he's thrown that into the enforcer, the secretary of commerce, to kind of work that out. so i cannot imagine, maria, that we would walk away from sanctions on zte, given the national security implications that that had. that would be stunning. >> maria: i think so too. so that's why i'm sort of waiting until i see what happens with north korea. maybe that's one of the issues here and that's the reason we're not appearing more tough or tougher, rather, on zte. but there's more to talk about on that story. i have to get your take on iran. secretary of state mike pompeo
7:39 am
saying the us is prepared to propose strong sanctions on iran unless they respond positively to the list of foreign policy agenda demands. i sat down with matt thornberry on sunday on sunday morning futures. here's what he said about iran. >> we see iran being more aggressive in all sorts of fronts including against israel and so we need a broad coalition to push back against iran, a key component of that is military strength but diplomacy and economic sanctions have to be part of it too. >> maria: your thoughts, general? >> i thought secretary pompeo's speech -- i agree with everything matt thornberry said there. the fact is that speech outlaid a comprehensive coherent strategy that believe me it takes the gloves off. it's no holds barred against iran. the obama administration apiecement policy for eight years is finally dead in the
7:40 am
water. we have a policy now that's going to push back on iran. it's comparable to what the administration did with north korea over a year ago. and yes, as mark thornberry points out and i've been advertising for some time, we need an arab nato in the middle east. >> maria: president trump touted the new cia director, her 30 plus years at the agency, her skill and devotion, what do you anticipate from the new cia director? what are your thoughts on the fact that some people say look, she's a wrot protege of john brn and john brennan has been trashing the president for a year. >> there are a number of cia directors that helped gina haspel through her career. she is incredibly confident and well-expecterespected throughoue organization. she has all former cia directors
7:41 am
supporting her. i think she's totally different than director brennan in the fact that she's incredibly apolitical. i think that her relationship in the administration and the respect that she has, particularly with the national security team, with john bolton, obviously mike pompeo, the secretary of treasury, and that whole national intelligence community, she is going to fit like a hand in a glove and what she will do for that organization, when you listen to that thing yesterday, i was so heartened. she invited me to come because i was helping her try to get confirmed. hi to go to new york -- i had to go to new york. i was listening to the rank and file cheering the president's remarks and her remarks. i've never, ever heard that at a swearing in in my life. she is really going to be added value to this administration. >> maria: that is terrific. general, it's always a plesh youpleasure to see you. thanks so much. we'll see you soon.
7:42 am
coming up, geek squad 2.0. how best buy is revamping its tech help squad, that's coming up. and then a sweet take on postage. where you can buy the new scratch and sniff stamps that smell like popsicles. back in a minute. ♪ mom? dad? hi! i had a very minor fender bender tonight in an unreasonably narrow fast food drive thru lane. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness. which is so smart on your guy's part. like fact that they'll just... forgive you... four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it.
7:43 am
savings on the new sleep number 360 smart bed. it senses your every move and automatically adjusts on both sides to keep you effortlessly comfortable. and snoring....
7:44 am
does your bed do that? right now during our semi-annual sale save up to $700 on sleep number 360 smart beds. ends soon. 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.
7:45 am
>> maria: welcome back. a battle over who gets first dibs on martin shkreli's debt. >> cheryl: the convicted pharma executive owes the irs and new york state and both want to get paid first. he owes the irs over $1.6 million and he's on the hook to new york state for $480,000 from a 2016 tax bill. the irs says they filed their lien first and new york has to
7:46 am
wait its turn. shkreli also has another forfeiture order hanging over his head. he is currently appealing his conviction. well, best buy is expanding its geek squad technician service to all technology he devices. this comes as best buy rolls out the total tech support subscription service for $200 a year. you can get unlimited phone and online support, discounted in-home visits, that's the service call. this includes discounts for repairs and extended warranty plans. best buy began a pilot program of total tech support at 60 u.s. stores a year ago to gain interest. they found the yearly subscription model works the best with 200,000 people signing up for the service since it launched. shares of best buy are up more than 50% over the last year. 50. all right, president trump appearing to take another shot at the nfl and the controversy over the national anthem as he
7:47 am
honored nascar champion martin truex junior at the white house. >> i will tell you one thing i know about nascar, they do indeed, brian, stand for the playing of the national anthem. right? they do indeed. >> cheryl: all right. well, the president was he referring to brian france as he avoided explicitly mentioning the nfl. some nfl owners are due to discuss the league policy on the national anthem at the spring meeting which is happening this week. and then check this out. the u.s. postal service introducing its first ever scratch and sniff stamps. each has an image of popsicles in various forms and we're going to assume flavors. we don't know the exact scent. they'll be announced with the launch of this on june 20th. earlier this month they posted a $1.3 billion loss for the second fiscal quarter. maybe this will actually bring in some cash into the postal service.
7:48 am
>> maria: i like it. >> cheryl: if you bring it on set, we'll try it out. >> at the postal service we're losing $1 billion. i got it, scratch and sniff stamps, everything solved. >> this will turn it around. >> dagen: there's something weird about adults going -- >> maria: you're right. >> exactly. you've proven it. >> maria: subscription model for best buy, good idea? >> i mean, i guess. the idea -- our subscription model in our house is my 13-year-old daughter helps my parents with their technology and acts like the geek squad all year round. the idea -- i guess people would be interested. i don't know. i wouldn't be the customer for it so i don't know how to answer it. >> you already have built in -- >> exactly. >> maria: you must have that too. >> i would use something like that. >> maria: we'll take a break. when we come back, you can own one of the most memorable weapons in star wars galaxy.
7:49 am
watch. >> don't move, lando. >> i thought you were flying. >> it's all right. i can see a lot better. >> don't move. >> just a little higher. >> maria: yes, han solo's blaster from the return of the he gentlemen die-- jedi. we take a look at some the memorabilia here on-set. back in a minute. ♪ the town lit up. ♪ the world got still. ♪ i was learning to fly. with ay dent or dings on this truck. they all got a story about what happened to 'em. i could feel the barb wire was just digging into the paint. two bulls were fighting, hit the truck. another ding, another scratch, another chapter in the story. 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.
7:50 am
kevin, meet yourkeviner. kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. sure. momwhat's up, son?alk? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password:
7:51 am
"you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. 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®.
7:52 am
give me the gun. don't move, lando. >> i thought you were flying. >> it's all right. i can see a lot better. >> don't move. >> just a little higher. >> chewy, close up.
7:53 am
all right, up, chewy. >> maria: a blast from the past. that was a clip from the star wars movie return of the jedi, featuring the han solo blaster. legendary movie props like this are hitting the auction block. we have some of the hottest items going up for sale right now. joining me right now is martin nolan. great to see you again. thank you for being here. tell us about the blaster from return of the jedi. >> it's an amazing piece. it's the blaster dl44 han solo, harrison ford blaster. i'm going to light it up here. it's a spectacular piece. >> maria: that is cool. >> it comes directly from james sharp, the creative director of the movie, 1983, the third in the trilogy of star wars, return of the jedi. this is a fantastic piece. 300 to 45* hundred thousand $50. that's conservative.
7:54 am
star wars fans love their toys. >> maria: they sure do. then you have the axe used by the ewoks in return of the jedi, that's also available. >> the axe is a wood handle, leather straps and a foam like sharp edge. >> maria: how much will that go for? >> it's in a range of $5,000 to $7,000. it's affordable and it's a cool piece. >> maria: we have a superman costume, the cape worn by the lake christopher reeve in superman 3. tell us about this item. >> this is really cool, superman 3. it's a darker red than the cloak and the blue is darker blue. it's because he played the evil superman. so it's highly sought after, highly collectable, estimated 20 to $40,000. >> maria: 20 to $40,000 is the estimate. >> conservative. >> maria: marilyn monroe fans can bid on a check signed by the
7:55 am
iconic actress. tell us about the check. >> may 26, paid out to a dear friend of marilyn. it's 1961 in new york. we estimate $3,000 to $5,000. it's marilyn's signature, coming from her bank. she is loved all over the world. highly collectible. >> maria: then you brought one of the robes of the late hugh hefner, known for wearin wearins all the time. tell me about that robe. >> it's so hefner. he donated this to a charity auction years ago. now it comes back to us at julian's auction. we're selling these items in las vegas on june 23rd. >> maria: is that a silk robe? >> of course. hugh hefner only wore silk. $2,000 to $3,000. people will want to own something from his life and career. >> maria: we've got the playboy bunny waitress outfit from the 1970s also hitting the block. this is the waitress outfit.
7:56 am
i don't want to show you the back. i can't imagine how anybody worthies. >> this is really great. the amazing thing about this, this is valley voss. she -- valerie voss. she was the weather lady on cnn. before that, she worked in the playboy bunny club. it's an amazing piece. valerie is still going, of course, and it's just highly collectible as well. >> maria: i don't see the bunny tail. usually they had the bunny tail. >> we're missing the bunny tail. the rest looks fantastic. we have the cuff and the ears. >> maria: it comes with the bunny tail? >> we couldn't attach it to the mannequin. we leave that tour imagination. >> maria: great stuff. another successful auction you're expecting. >> these items are becoming more and more collectible. there's a lot of money around them. people are buying their toys and see these as investment assets. over time they appreciate in value. star wars, that's a huge
7:57 am
franchise, over 40 items going on the auction block, all from the creative director. >> maria: you've brought us many different items. how does hollywood memorabilia compare to like rock and roll for example? >> rock and roll is major, at the top of the food chain but very close second would be hollywood and especially when you have such major items from star wars. the star wars collectors are fan at call about their items. when you get something like this, they'll pay big money. the han solo blaster could sell upwards of $1 million. >> maria: thank you for bringing these items in. check out the auction. the chairman and ceo of cisco is here in studio. i'll talk with him about the u.s. and china trade and facebook, mark zuckerberg, back in a minute. until... we lost it. today, we're renewing our commitment to you.
7:58 am
fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com start winning today. this is no ordinary coffee. it's single-origin kenyan coffee from the nyeri highlands, 6,000 feet above sea level. but how do you really know that the beans journeyed to the port of mombasa and across the pacific?
7:59 am
that you can trust they're 100% authentic? ibm blockchain. a smart way to track every step, ensuring this coffee did indeed come from 6,000 feet above sea level. and not a foot lower. ♪ ♪
8:00 am
good tuesday morning well back thanks for joining us. i'm maria bartiromo. tuesday, may 22 top stories right now 8:00 a.m. on the east coast, easing tensions with china china announced overnight that it will cut trifdz on auto imports united states china reportedly have outline for a deal over chinese telecom giant zte as well larry kudlow hinting yesterday what was on table. >> -- if any thinks that any changes are going -- they are wrong it is -- huge compliance changes -- we are aware of all
8:01 am
that. maria: closer look at deal this morning, plus markets look to go extended the gained of yesterday, we have a pretty good bid on this market dow industrials up 50 points right now quarter of a percent higher nasdaq up a third of a percent 22 points higher on nasdaq, this after a great day for stocks dow rallied nearly 300 points closing bell yesterday closing above 25 now once again, nasdaq, s&p 500 up, on that half a percent three quarters of a percent respectfully good gains across the board in europe muted performances gains cbo fractional at best, ft ft 100 up 13 points in asia overnight hong kong korea closed forhold shanghai composite a fractional move upwards nikkei down a fraction, ceo of facebook zuckerberg made that a stop on apology tour before you european parliament how zuckerberg is expected to
8:02 am
address the data privacy scandal. >> better-than-expected in revenue first quarter stock soaring result retailer raising full year guidance sending shares up almost %, first for the new york stock exchange, big board cummingham notp first woman to serve president of new york stock exchange in nyse 226 years history coming up uber for kids a group of moms coming together to create a ride-sharing company to help busy parents, a booster fee would you use it for your children we check it out this tuesday morning joining me to talk about it dagen mcdowell, jon hilsenrath fox business network connell mcshane. >> good to see you. >> -- questionable -- >> you know, put your kid in a car with a stranger? >> they check out drivers. >> like that is whole --
8:03 am
>> -- i think so we will find out i think that is whole deal you wouldn't trust your kid with a stranger so these people are more researched and checked out than other people. >> you would think. >> -- the question. >> we got all kind, all kind of problems in our house, take a chance? >> -- >> the parents -- far and wide put kids in uber. >> especially around. >> maybe not a five-year-old but a 10-year-old put in uber they need to get to -- like, easier for uber to take them. >> maybe you will change your mind by the time we do the segment. >> -- old enough to be drivers, yeah. >> big news on china, and a u.s. we will see if what the deal means this morning, we have been talking about, the fact that feels like u.s. on
8:04 am
losing end again. >> yeah, one of the -- what do we gain we know china wanted a referral reversal u.s. restrictions looks like they got that u-- i mean lower tariffs than others kind of saying, earlier segment, producing a lot of autos in china doesn't do that much, they said buying more agriculture energy partners global comedy to see a bump on that -- count of look like we won a lot. >> to this point "the wall street journal" i hadtorial page which has been critical of the president administration on trade says message to president trump should be that his negotiators on right track trying to openly china's market instead of closing -- >> free trade, global point of view to point of view to begin with if that is the treasury secretary point of view
8:05 am
clearly has upper hand in administration back-and-forth with all this, and see if -- market likes it sports mnuchin's points, as you said yourself this is holding back the stock market. maria: they want it they got it. >> -- another -- >> so the question is do we want short term gains and get you know, losing he believed of things long term when it comes to the -- technology transfer. dagen: steel aluminum tariffs i said didn't -- peter navarro wilbur ross representative trump's base haphazard roils markets hurts farmers in this country on losing end. >> round one of multiround. >> korea talks north korea
8:06 am
talks, could be back tomorrow i am waiting to see i am wondering why president hasn't been more vocal. >> a probably ahead of june 12 kim jong-un meeting we will wash that joining the conversation, the chairman ceo, chuck robbins special congestive, former senior advisory to clinic tons parkmen excellent op-ed from robert wray, host of "varney & company" stuart varney checks in don't miss a moment kick off right here this hour with the latest trade negotiations in china, china offered to cut tariff on auto imports trump administration reportedly has reached an agreement, with officials to lift sales ban on zte, blake burman at it white house. >> it is important to note this morning "the wall street journal" is soul outlet reporting this morning, of a possible deal in the works between u.s. and china, as relates to the massive telecommunications giant zte
8:07 am
according to the journal this deem would allow u.s. companies to sell back into china products to zte would lead to management changes china would remove billions in tariffs on foreign products, i am told this morning that progress is being made, on the issue, and details are emergeing the possible deal contending for days now that this is an enforcement issue not a trade issue. >> let me be clear the president hasn't dictating anything has not been a quid pro quo, if anybody thinks that any change are going to let them off scot-free they are wrong. >> -- for months relates to zte his take writing on twitter -- out about negotiating the administration winning trade talks avoided tariffs got zte deal without giving up anything in meaningful return by using north korea talks agriculture issues as leverage this is not
8:08 am
winning, earlier this year the intelligence chief in this country warned of security concerns. >> please raise your hand if you reduce products -- >> none of you works -- intelligence services that is something of a question raise your hand if you recommend that private american citizens use -- zte products or services. >> none of you again raising your hand thank you for that. >> also this morning, china has announced that it will cut the tariffs on auto imports from 25 to 15%, that is something president trump has been talking about for months speaking of the president today at white house will meeting with south korea sxart to trstrategies. >> to investigating the justice department expanding alternatively investigation into fbi you been rush probe a high level white house meeting
8:09 am
with president trump inspector general will look into irregularities concerning the trump campaign, mark penn is calling for special counsel investigation to come to an end in op-ed for the hill mark penn writes in part quote the mueller investigation has been scorched earth effort to investigate entirety of trump campaign trump business dealings entire administration this process must now be stopped preferably long before vote in the senate rather than i'm parshal mueller investigation, precedent is a threat to all those wanting to participate in the national campaign or administration again, joining me right now, is mark penn himself, the former sr., adviser to clintons, author. >> in studio former whitewater
8:10 am
independent prosecutor, robert wray great to see you. thank you so much for joining us. >> a mark quite op-ed really calling pretty at accurately with on what did he do was reaction tell us more. >> well, i think the reactions has been overwhelming i think it struck a chord when i said deep state about to get a reckoning going to get the inspector jenner report they have been vigilant saying getting to investigation. >> it is overwhelming were those went through independent council process hadlived ruins can't have process in america that ruins people wanting to participate in political campaignings or administrations as part of never ending investigations it is joong in your on wednesd. maria: in your op-ed you talk about a conversation with papadopoulos you asked how did
8:11 am
fbi know they should talk to him in the first place? that is left out of the narrative robert devin nunes has been with me many times on this program and sunday morning program says there was no official intelligence used to launch a probe into potential collusion between donald trump and the russians your thoughts. >> i think he -- i don't know my thoughts. >> kind of get to how probe started in the first place. >> legitimate question the thing you do want to know that is something that people should be held about accountable for. at least in the political process, and to the extent that there are structural issues about the way the department of justice functions the way the fbi functions those are things that need to be addressed by congress, in oversight capacity that is exactly where congress should be, on the independent council statute not reenacted both parts i think felt they had become victims of unvenl prosecutors
8:12 am
now a different system i i guess reasonable whether that different system is better it is a regulatory special council i said from beginning i don't think this should last throughout the for indefinite term i this i in political process is desirable for the country, and for the political process that this can be brought conclusion before midterm election about cycle. >> you've got first, obstruction, second was obstruction then collusion then said looking for obstruction then basically trying to get tapes of stormy daniels this investigation has gone in so many places, why you write at this point, this is an effort to take down donald trump investigate donald trump in any which way. >> -- all over again, about
8:13 am
did we not learn from wasting a year that is why i say, do we really want this to go to opponent pointless vote in the senate when two years have been spent here nothing of any substance directly related to russia collusion has been found in any way it is time to figure out how to end this process, get -- most important deep state has to be about held accountable was this investigation of hillary and server a fair one? were was the meeting between the attorney general and president the right thing to do? why do so many people seem to abuse their power here? this is a real question that we can't back away from. >> i agree with you. >> the investigation, though right look people find it in seemly about the tactic prosecutors apply to get at truth they are harsh intend to be harsh that is why it is a dangerous pour to be exercised people need to be held to
8:14 am
having the for improper exercise of that power particularlyly acute nixon politics the tools of prosecution, so that is what the inspector general report i mag imagine will we what happened with attorney general former president whether improper efforts to -- to play politics with regard to the to an investigation whether certain people frankly should have recused themselves done so openly put jim comey in awkward position i don't think attorney general did what she should have done. >> bottom line will we see justice. >> i think if ig report blasts comey will open floodgates if it doesn't, then i don't know -- >> i don't expect horowitz to flow punches i think going to be a harsh report and hold a lot of different people to for
8:15 am
what happened. >> we will be right back. [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.
8:16 am
8:17 am
right now baltimore maryland police a 16-year-old arrested in shooting diet of baltimore county police officer monday officials say awaiting bail hearing searching for three additional suspects we will have more on that, as we get the news, in the newsroom, two big traerlgs reporting earnings before the bell kohl's out topping
8:18 am
expectations stock up in heavy volume nicole petallides on the floor of the, no, no good morning to you. >> good morning so we are seeing kohl's upside, topping on profit raising forecast, stock up 5.1% a leaner inventory cut back on discounts, as a result seeing cole upside they've had partnerships with amazon smart foem as well as discount upon the retailers has done well nordstrom jc penney macy's beat that has been up 11% this month going to watch cole gaining today then tjx, shortly ceo will have conference call at 11:00 a.m. stock is up 1 1/2% right now big news at new york stock exchange changing of guard ceo position president i should say that will be stacey cunningham, tom farley moving on part of new acquisition
8:19 am
company -- third point hedge fund and she has been here since 0's was bank -- 90s was bank sperth taking over here to lead exchange after 226 years first female back to you. >> two running exchanges, at nasdaq and cunningham thank you so much. >> coming up created by parents for parents details on new car service being called uber for kids. the cars come with booster seats would you use it for little ones we are going to check it out coming up smart heer way to save best way for parents to pay for kids' college tuition without sacrificing their nest egg. back in a moment. ♪ i just wanna ♪ ♪ into retirement.
8:20 am
and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about.
8:21 am
talk with your advisor about shield annuities from brighthouse financial- established by metlife. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. 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
8:22 am
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,
8:23 am
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, kids on your own that is what more parents are telling children when it comes to paying for college, 69% parents refusing to dip into retirement funds for children's education according to recent study that is up 60% from 2016, joining us right now author of retire inspired, financial expert chris hogan good to see you. >> good to see you maria. maria: ask do you into are this for parents to not go into retirement for money to pay for college, does this mean more parents are saving ahead of time? >> this makes me happy maria this means parents are getting focused and taking their own financial future seriously, because there are many ways for kids to be able to go to college, it is just going to require parents kids working together walking through
8:24 am
understanding scholarships are available that kids can work and go to school, there are many options but i am grad to hear parents are saying to their sfurt. >> remember 401(k) mirn airz new highs to investments 157,000 workers now have a balance one million dollars, or more in 401(k) during first quarter that is, increase 45% year-over-year. dagen: largely case markets up i wish more chris only 157,000? >> i want it to be more but listen this is a great news, this is showing people that becoming a millionaire is possible i want people to hear this get more focused what can they do to help themselves you know so many people see 401(k), holding money that is incorrect, you are 401(k) is a place can grow your money if you work the right kind of plan. maria: what do you think jon? you are a father. >> what have people been doing
8:25 am
with 401(k)s maximuming out 10% withholding more. >> first and foremost you want to understand if it your company offers an employer employee match, you can be getting dollar for dollar up to 8 to 10% this is free money so get intentional make sure you are investing based on work tolerance kind of goals for yourself but have confidence that each pay period you are your dreams never pull money out not used for wedding home down payment this is money for your dreams, so stay focused, and understand what you are doing, how it is going to help you later. >> numbers if right i mean to me seem big increases in year-over-year first of all, chris dagen, probably right that market has gone up a lot in 401(k) i guess 45% but on first issue, dipping into requirement that is two years to have a -- have a 60% change? i mean just explained by the fact the economy is better seems like huge -- way, about
8:26 am
huge different kind of approach to things by americans. >> well you know how it is with the market, any time you are investing in a stock market it is like riding a roller coaster going to be ups and downs but long haul when people allow people to sit there compound interest will grow it will we know in the smild where reality false but i love this that we've got enough people that are hitting 401(k) mill an air statues we are going to have more when people get out of debt invest 15% income going to be able to set themselves up to do more things for themselves, and their family later so i think it is more greet news to come if people just say focused. >> i don't think this is all great news though, one of the reasons why people parents issue not paying for college, dipping into retirement savings to pay for college education college education is so expensive. dagen: how is most degree that cost 300 or half a
8:27 am
million dollars in something that will not get a kid a job? you are going to pay literally half a million dollars almost to send some kid one of these liberal arts schools about teaching social justice and not something that gets you a job, and pays off that debt pays back your parents when you graduate? parents should put hammer down on kids say you go to a state school or pay yourself. >> i agree, definitely parents need to help young people do math, i'm one hundred percent agreement with you, there there is no reason to spend 300,000 go to some private school you need to understand what is it i want to do what is my wrer path, but what are options for me to be able to go to school debt free the average student loan around 37,000 dollars that is on average. so too many people are graduating with this massive amount of debt from their neck, that does not a way to start life you want the to start life debt free able to
8:28 am
save plan for the future. dagen: parents need to teach kids math because colleges won't! >> another one. >> i agree. >> he people are not dipping into retirement savings they have new lending program parents plus, that retirement savings parents are going into debt for kids. -- taking out educational loans in their names burdens the debt, you know -- late in life,. >> they have to be careful those parent plus loans can be very dangerous, parents don't understand core cosigning you are guaranteeing the debt i don't want parents going into debt students into debt do it debt free scholarships grants. maria: good point chris thank you great to see you. >> thank you. maria: chris hogan coming up mark zuckerberg maya culpa, ceo set to face a grilling from officials, involving data scandal chuck robbins weighs
8:29 am
in or privacy concerns a lot more. >> a company does uber for kids details on a service that transports children as young as 6 years old for parents includes booster seats would you use it though? straight ahead. ♪ ♪ hey! we didn't have a homeowners claim last year so allstate is giving us money back on our bill. well, that seems fair. we didn't use it. wish we got money back on gym memberships. get money back hilarious. with claim-free rewards. switching to allstate is worth it. this is not just a yard. it's where memories are made. and you have the best seat in the house. the john deere x350 select series with the exclusive mulchcontrol™ system. nothing runs like a deere™ - [voiceover] this is an urgent message from the international fellowship of christians and jews.
8:30 am
there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - this is a fight against time. what we're dealing with is coming out, meeting someone who's 85, 90 years old, can't get around, has no food, has no water, and just wants to give up and die. and that's where we come in. we are called to comfort these people, to be a blessing to their lives. - [voiceover] for just $45, we'll rush an emergency survival package to help one desperate elderly person for a month. call right now. - [eckstein] call the number on your screen. - in ukraine, there's no supper network. they don't have food cards or neighbors that come in to help. they're turning to us
8:31 am
because they have nowhere else to turn. - [voiceover] your gift is a life line to help these elderly jewish holocaust survivors, help them to live out their final years with dignity and love. call right now. - [eckstein] call the number on your screen. - what i pray is that you won't turn your eyes, but you will look at their suffering and your heart will be changed. - [voiceover] with your gift of just $45, we can rush an emergency survival package to help one desperate elderly person for a month. call right now. - [eckstein] call the number on your screen.
8:32 am
maria: welcome back. good tuesday morning. thanks for joining us this morning, i am maria bartiromo. tuesday, may 22 top stories right now 8:31 east coast easing trade receptions overnight china cut tariff on auto imports beijing united states reportedly come together to strike an agreement over chinese telling giant zte markets markets is to extend gains furtsdz another gain start of trading up 50 points on dow industrials 23 points on nasdaq after a strong day with dow rallying nearly 300 points, at the close, closing back above 25,000, nasdaq, s&p 500 also posting gains only the session in europe this morning, n european indices little changed right now higher, ft 100 up 14 points cac quarante. dax also higher, dax in germany up two-thirds of one percent right now, hang seng, kospi closed in asia majors in asian markets fractionally moving ceo took zuckerberg facing lawmaker today this time will appear
8:33 am
before europe parliament. >> tjx blow expectations look at names, tjx down 5 1/2% kohl's up 5 1/2% may gosy's up 1 and 3/4% tjx came out with numbers a miss. >> uber for kids, group of moms trading creating a ride-sharing company would you put your child in the sack seat of a stranger's car we check coming up this morning, first, we begin this half an hour with u.s. china he relations taking a step forward two countries reportedly agreeing in principle to broad outline to settle dispute over chinese telecom giant zte according to "the wall street journal" if to happen u.s. will lift its ban on american companies, from selling components and to zte in exchange zte forced to
8:34 am
make distant changes to management team, possibly pay hefty fines to talk about that chairman ceo cisco chuck robbins thanks for joining us. >> good to be here, maria. maria: from i don't your experience in terms of operating in china with a are barriers american companies face. >> ultimately, speak from our perspective, actually we've had pretty good access to company we've to the kin we've had no real issues relative to i. i.t. theft since early 2000s issues that, have been well documented in general, for us it is about just you know open access to the markets being able to take our technology, and position it with the public sector customers, enterprises as well as commercial customers service providers most important thing to us. >> do you feel you have a fair optimist in china do you feel like you do get access to that market? >> i think in general we have
8:35 am
been treated fairly in china, actually. maria: okay. >> i am not -- we've not had any pressure for technology transfer or anything like that, not again i can't speak for others, but that has been our experience. >> used a you had great quarter talk about quarter what can you tell us in terms of i.t. budgets on networking. >> our quarter was very strong another quarter of continued momentum from a growth perspective, we had a record quarter from earnings per share regarded quarter for capital returns, about we had, two of the big things that i want to accomplish when i became ceo to trans form our business model to software and subsubscribe shinn innovation into core franchises almost one-year anniversary of new. mr. the fastest ramping are product in the history of the company doing incredibly well, our business model
8:36 am
transformation continues to accelerate, i know significant in business. >> what does that shift toward recurring revenue subscription base. >> great the reality is that customers want to consume or technology a different way to consume more as user as opposed to buying everything up front we have been transitioning those inspects of portfolio line up with what consumers would like to see lines up with recurring revenue model that our investors like because it provides more predictable financial models overtime. >> what are you expecting from for the rest of the year going into 19 -- in terms of budgets and spending. >> right now we've we saw actually broad-based strength across large customers mid sized consumers reasonable strength public sector continued weakness globally in service providers telco
8:37 am
segment conflict of interesiste growth across regions it feels like there is a consistent solid economic scenario that we are dealing with across the world. >> do you think managers are increasing budgets then because for a long time they were sitting on cash have you seen a change in the last year? >> well the reality is is that technology, has moved so far beyond i.t., and every company every city every country around the world, is really looking at how technology changes and creates strategies for them from comprehensive perspective from economic development perspective, so it is hard for me to imagine, a future where technology won't be a priority in spending on technology won't be a priority so right now feel very good where we are feel good about role technology is playing in these organizations. >> keep seeing an increase.
8:38 am
>> we have seen a lot of strength can you delineate how much success is coming from better execution inside the company versus the economy, and, obviously, it is very difficult to ascertain i this i both are certainly helping us right now. >> does it feel like policies that this administration has been helpful to some customers in terms of rollback in regulation and tax reform plan. >> absolutely whether you look at the regulatory environment, allows moving faster focus on growth initiatives as opposed to reporting efforts. obviously, tax reform lowering tax rates, exam rushes repatriation all good for business i think you are seeing that play out in u.s. >> let me ask you about repatriation at cisco you brought money back. >> we did. >> tell us how you are allocating capital right now was it partly tax reform impact that got to you bring money back from overseas. >> one hundred percent tax
8:39 am
reform impact that about enabled us to bring back 67 billion when we completed, i think it is -- it is -- you know as we think about our capital strategy it doesn't change just allows us to accelerate it having access to those that cash, so we have had a longstanding commitment to return 50% free-cash flow through dividends apply backs we raised dividend last quarter increased buyback pool, to 31 billion, brought back 6 billion worth of shares last quarter alone aacquitstive lots of access to cash. >> talk about that a lot of people have known analysts, of course, nature aacquitstive nature of cisco there are areas would you like to build up through acquisition in the coming year or two. >> first of all, our acquisition strategy didn't fundamentally change when we gained access to this cash because debt markets have been
8:40 am
so you know, about about accessible we have been able to do anything we really wanted to do our strategy has not he fundamentally changed it makes things simpler now if you look at areas that we are focused on security, a big area, that continues to be at it the other front how we think about expanding our portfolio there are lots of technologies that we are looking at relative to enabling customers to navigate this cloud, we have internal innovation driving in that space assets that we may choose to acquire, so it is across the portfolio. >> cybersecurity you mentioned security this has been a main focus for a while tell me about that are there areas out there where you can even get better at private security. >> that is absolutely true we are number one security company in the enterprise space but very fragmented market we have created
8:41 am
architecture to consolidate threats from e-mail from network from cloud think about anything that we can add to that portfolio that gives more threat intelligence we see 20 billion threats every day six many times the other than what google does searches on daily basis a big number we resolve. -- 20 billion. >> 20 billion we aggregate all of those run all next generation technologies machine learning a.algorithms you can see a threat in europe we can defend some network and you know seattle, because of the information that we see across that. >> incredible, 20 billion threats a day. where are threats coming from. >> coming you have threats coming from people inside the organization, there is huge
8:42 am
68% of e-mail that we see on daily basis, 300 billion pieces e-mail 68% is spam. >> huge, so then you see a massive amount of malware that is number one threat that we see coming through the organizations, and the real issue that you have with most companies is operational processes that are not being followed properly terrible passwords, some has password stuck on a post it note on computer. >> kind of things create more problems, or insider threat? general. >> people get it now like unlimited spend for corporations because of all issues you just mentioned. >> we like to say unlimited -- >> security i like to believe it -- >> it is certainly number one priority. >> this is so well positioned in terms of all the issues we talked about all day, whether it be a.i., or whether
8:43 am
cybersecurity you have been working on smart cities as well. >> we have been, we have a number of smart cities initiatives doing it a decade. we spend many years showing what is possible and now the technology has actually evolved to a point seeing the real being built around the world in china from ground up you might expect from china in cities in u.s. cities in europe we see it in everything, ports, in germany, that are connected everything, we see mines in canada that are putting sensors in minus to create safer environmentalists pull information not send people in extract data from iot -- we broke out last year we see so many, many use cases now for new technology. >> let me ask about regulation what you are anding as relates to tech mark zuckerberg on apology tour speaking with --
8:44 am
for eu parliament over data mining scandal what is your take on this, the fallout has been broad-based on tech are you expecting a heavier hand when it comes to regulation on technology in general. >> i think the technology as i said earlier technology is infiltrating every element of life, and it is moving so fast that i think we do need to ensure that we are constantly assessing regulatory environment to make sure the policies are evolving at same pays the technology is unfortunately that has not occurred so two things i think are really important number one, to governments around the world i talk to all of them about this, they really need to make sure they have the appropriate expertise i think how difficult for me lived in this world since i got out of college, to keep up with everything going on now we are asking people, whose jobs are
8:45 am
to govern to drive policy to understand the technology well enough to also regulate it, pretty tough so i think there has to be discussion that occurs there's got to be some -- there have to be companies in the tech world that are spending time to truly honestly educate the regulators. >> great to see you thanks so much. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018.
8:46 am
where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. 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. pah! thano, no, no, nah.k. a bulb of light?!? 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. amazing. i like it. never gonna happen.
8:47 am
8:48 am
. maria: what is the matter with europe the question posed by "new york times" upon writer, blaming social role across atlantic on euro hostility of "varney & company" stuart varney, ready to weigh in good morning to you. >> i want to pick on one sentence in cryingmthe article democracy under siege on both sides of the atlantic, the collapse of freedom if it comes first, if it comes, will probably happen here first. krugman predicting the collapse of freedom in the
8:49 am
united states, this is a theme seems that many democrats are picked up on elizabeth warren -- says democracy is crumbleing around us pelosi says democracy under threats i don't get it i don't know where threats are coming from what is krugman talking about collapse of freedom where is our freedom collapsing? he doesn't doesn't say i don't know elizabeth warren says democracy crumblinging around us what element is crumbling would i turn this around under threat when you have one political party spying on presidential campaign of another political party democracy under threat when government use machinery of government like irs to beat up political opponents i think entirely the wrong way around. >> that is what i was going to
8:50 am
say, you can make that case, in 2016 election when you saw fbi and doj trying to tip the scales trying to change where america was going. >> precisely i will never forget your putdown of krugman on election day we will never recover you probably he went on fox news channel said here comes the big rally you got it so right. maria: thank you. >> i totally agree with what you are saying i think this whole fbi investigation and examining what went on in terms of of hillary clinton e-mail investigations, trump investigation should be looked at if you want to look at democracy crumbling that is why that story is outrageous back to yesterday where in the world was barack obama what did he know? when did he know. >> it exactly right we will see you in 10 minutes i know um have a lot more of that join stuart 10 minutes' time. >> a company called uber for
8:51 am
kids gaining plarmentr popularity transporting children as young as six jeergz old without parents. back in a minute. ♪ ♪ ♪ mom you called?
8:52 am
oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. sure. momwhat's up, son?alk? i can't be your it guy anymore. what?
8:53 am
you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around.
8:54 am
popular popularity6. maria: hop, skip drive in a new ride service being called uber for kids, gaining popularity with parents, the details good morning to you. reporter: hey maria, good morning these moms are reinventing the after school car-pool school by those transportation with kid-friendly pride sharing service drive. >> 50% of kids take a school bus every day, and schools are spending 24 billion dollars,
8:55 am
on just that, this is a massive market opportunity, and our servers saw that opportunity, they saw that we were solving a huge pain point for families when you solve that problem they are very loyal customers and stay with you with you a very long time. reporter: here is how different than tossing kid in uber or lyft, a process that requires all drivers nearly 2000 of them, to be fingerprinted pass background checks the at least five years child care experience and 99% drivers female hop, skip drive ceo says a great option for families that need children different places all at once for activities and play days a huge game-changer for working moms that can't shuttle kids around after school, it is helping schools make transportation effective partnering with student transportation to provide schools, bus alternatives
8:56 am
working l.a. office education to help get foster children rides to school. >> great if you need to get from point a to point b, oftentimes they are yr utilized makes them encapsule we can do transportation in a way much more cost effective optimal for school. >> rides available for kids 6 and up but not a last minute fix you have to make reverberation at least 8 hours in advance. >> thank you, dads at table jon hilsenrath would you use a service like this. >> -- i am -- a trust issue there. >> even though background checks. >> even with background checks you want to mother the person who is driving your kid around, and -- it even if background checks if you don't know the person just -- i think a bigger hurdle for a lot of parents. >> the age matters, my kids are a little older so i definitely -- there are days like last week where we could have probably used this for
8:57 am
teenagers to get around town but then again maybe that uber is servicing that market to some extent i think to jon's point with younger children would i be skeptical as well, but boy, i would be interested in looking into it a little bit more a lot of -- times we could have used that. >> that is true -- two expert views there, we will tick a break about and then come right back. stay with us. ♪ brown eyed girl ♪ ♪ do you remember when ♪ shalala ♪ how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges. ♪ .
8:58 am
is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tripadvisor.com 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®.
8:59 am
my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. the commute is worth it.me, the more you know my visitors should be the ones you and that john deere tractor... you can keep dreaming up projects all the way home. it's a longer drive. but just like a john deere, it's worth it.
9:00 am
maria: great show, everybody, thank you so much, dagen, jon, connell, good to see you. have a great day varney & company begins right now. stuart, take it away. stuart: good morning, maria, good morning, everyone. are you ready for another dose of optimism? here it is. more progress on trade, china lowers tariffs on car parts, the u.s. drops sanctions on zte, phone maker, hard liners will not like this, investors do. you can't use the words trade war if the two sides are talking and making deals. that is progress. item 2, gallup poll with economy strength, 67% believe it's a good time to find a quality job. trump gets the credit for this. throughout the obama years, that number never moved above 50% and all income groups are sharing the optimism on

43 Views

info Stream Only

Uploaded by TV Archive on