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

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oil producers set to decide this morning whether to increase output, iran pushing back against the move. crude oil at 66.41, up one and a third percent. another setback for immigration overhaul, delaying vote on compromise bill yesterday after more hardline measure failed to gardner enough votes, president trump spoke out about the push for deal yesterday. >> we are working, however, right now on immigration which has been going on for many years and we have come up with a lot of solutions but we have democrats that don't want to approve anything because that's probably, they think bad for the election that's coming up, unfortunately there are a lot of people suffering and that's unfortunate. maria: the very latest on the immigration debate as first lady melania trump makes a surprise trip at border facility yesterday and then roseanne barred from her own show, details of abc's spin-off coming
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weeks after reboot was controversial after tweet from star. we will take a look at the wild new items coming to the chain including avocado toast and milkshake, dane source set to devour the box office this weekend, how much the sequel to the mega hit jurrasic world. joining me to talk about it all right here dagen mcdowell, benchmark managing partner kevin kelly and the president of maslansky + partners lee carter. good morning. dagen: first off, just right out of the gate because he inspired so many god speed to charles krauthammer, hilarious, hilarious man and i was lucky to have even crossed paths with him. maria: we all were. dagen: i had a huge nerd girl crush on him for years and i
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finally got to meet him two years ago at rnc and you know what we talked about, dogs, unconditional love and devotion, that's what we talked about. i will be tweeting a column he wrote about dogs that he wrote 15 years ago and it really is awesome. lee: i with respect -- would not be here if it weren't for here. he got me a pass and got me in and made introductions and here i am. he was an amazing kind, smart man. maria: he really was. al joining the conversation new york congresswoman claudia tenney is with us and kevin along with house financial services and texas congressman jeb is here this morning, the president stephanie along with harvard professor alan
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dershowitz. don't miss a moment of it. we kick it off with three hours and that's immigration clarification, lawmakers on capitol hill fail to go pass one immigration bill yesterday and delaying another. well, over at the white house president insisting that his administration's zero tolerance policy for illegal policies must remain in effect, watch. >> if you took zero tolerance away, everybody would come right now, they'll be getting there little belongs unfortunately and they would be heading up. you would have a run on this country the likes of which nobody has ever seen. maria: well, the president spoke in washington the first lady to facility housing immigrant children. the president has set to meet with angels families who have lost loved ones at the hands of illegal immigrants. global economics editor jon hilsenrath, jon, thanks so much
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for joining us. jon: well, there's a lot of confusion in washington and at the border. you know, at the border the question the president reverses policy of separating families and the question is how they will go ahead with prosecutions, do they have facilities to house families together and do they have the lawyers to prosecute the cases. here in washington the question is, you know, what are they going to do on immigration legislation, they were supposed to be a vote yesterday on a compromise bill between conservatives and they theyed the vote next week. we are on an uncertain moment where policy goes. dagen: jon, wall street journal page story goes in in-depth on this issue and there's confusion between the pentagon because they received a request from the department of health and human
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services to provide 20,000 temporary beds for unaccompanied imtbreant children at department of defense installations but then when y'all e-mailed health and human services they couldn't even answer e-mail questions on this issue and then you have the problems actually at the border with border agents and the people on the front line there not knowing how to handle these families. jon: that's absolutely right. this is a policy made as we speak and what we have is the administrative arms of the government, hhs and the pentagon trying to figure out how to implement the president's order and it's got to get sorted out because the serious resource question here is as you talk about the beds, you know, where we are going to put all of the families that we are trying to keep together. maria: then there's trade, jon, the other big story we are covering all week. european union confirming it will slap tariffs on three and a half
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billion dollars worth of used import starting today, the products targeted include harley davidson bikes, bourbon, cranberry after the trump administration introduced tariffs on aluminum and steel back in march and now high-stakes fight with china still looming, in two weeks u.s. will start taxing, where do you stand on trade issue and what it looks like to you here? jon: well, you know, the united states' tough position here is design today create better deals for americans and as we see with tariffs that are going in place today from the europeans on u.s. goods, those better deals aren't showing up yet. you know, the president hasn't gotten better deals. basically what we have is an escalating conflict. we will see if that leads to better deals down the road. you know, the good news here is that a lot of economists will
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tell you that tariffs and trade wars are bad for the economy, it's not showing up in the u.s. economy right now. we have an economy that's growing something like 4% in the second quarter while europe is slowing down, so in terms of growth, the u.s. has an upper hand with the rest of the world at the moment. maria: we will see about that. we are certainly watching growth to see if there's impact here. jon, good to see you, thanks so much. have a good weekend. breaking overnight, bomb threat closes in the middle of rush hour. less than month of reboot of roseanne's tv show a new spin-off gets the green light, will not mention the star, back in a minute. brighthouse financial
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♪ and now for the rings. (♪) i'm a four-year-old ring bearer with a bad habit of swallowing stuff. still won't eat my broccoli, though. and if you don't have the right overage, you could be paying for that pricey love band yourself. so get an allstate agent, and be better protected from mayhem. like me. can a ring bearer get a snack around here? maria: welcome bark sad news to report long-time member of fox news family charles krauthammer has died. 68 year's old, two years ago he wrote heartbreaking letter to colleagues and viewers that cancer had returned. here bret baier with lookback at charles' remarkable life. >> it's my job to call a foley a
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foley. >> charles krauthammer lived his life telling others exactly what he thought. >> you will betray not saying what you think and not honestly and bluntly. >> that was the quality that brought charles to fox news channel. >> this is not a potential tv star, in fact, he became a huge star even i would say a mega star on the channel and it was the force of intellect and the power of thinking and on top of that, it was a gentleness. he disagreed with you. >> he was the leader because of his delivery, intellect. >> special report stage manager was onset with charles every night for years. >> kind of ongoing joke on the panel that bret baier has a signal when people need to wrap
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up, bret puts his arm out and charles was on the show forever and we office laughed, i don't think he paid attention to that once. if he had something to say, he was going to stay it. no time constraints were going to hold him on that. >> born in new york to jewish participants that left world war ii era. >> his model was i want you to know everything, i want you to learn everything, you don't have to do everything but you have to know everything, he thought that was part of life. >> the family lived in montreal and summered in long-beach new york. >> very difficult childhood. my brother and i were inseparable. i got used to being around the big boys, that's how you get toughened up. >> as senior, krauthammer became attracted to political journalism and was accept today harvard but krauthammer enrolled
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in oxford instead and met fellow student from australia robin who would later become his wife. charles reversed course and headed back to the u.s. to attend harvard. >> why did you choose psychiatry? >> i was looking for something with the reality of medicine and psychology was the right thing. >> it was unexpected moment, tragic diving accident changed charles' live forever. >> hit precisely the angle where all the force was transmit today one spot and that's the the cervical vertebra. >> despite permanent paralysis
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astounded by graduating on time. ultimately he decided that the field wasn't for him. career reversal he joked around fox. >> haven't had a relapse in 25 years. >> in 1978krauthammer headed to washington, d.c. for a job. >> once i'm in washington, isn't that where they lead politics. robin encouraged him to follow dreams and landed at left-leaning magazine just as the reagan administration took office. >> so help me god. >> found himself agreeing with the new president an questioning his own feelings about the democratic party. >> i ended up every element of the reagan foreign policy. >> months after reagan's reelection krauthammer pinned the phrase the reagan doctrine in provocative magazine column and the name stock. >> he created the reagan doctrine. nobody heard of it.
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charles put together a piece and i read it many times and holds up so well. i think charles discovered then that there really was a lot to reagan. >> but it would take years before charles fully embraced domestic conservative ideals. >> it took me about a decade. i was skeptical of tax cuts and smaller federal government and by the end of the 80's i had begun to change. in 1985 his son was born and two years later charles won the biggest prize in journalism, pulitzer price. the evens -- events of 2011 that brought forceful tone of commentary and regular spot at panel. over the years, charles became an audience favorite. >> the biggest error that we make to lose the damn war because we refuse to recognize who the enemy and for god sakes, why do you to talk about that. the morning is over.
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and if you're a conservative you should be optimistic. i think it'll snow in hell before the doj is going to go after her. we all were expecting, it didn't happen. that was the dog that didn't bark. >> despite accomplishments, awards and high-profile endorsements, krauthammer was humble and uneasy with the influence that his words held. >> i find it worrisome, the reason when i was totally unknown i could say anything i dam well pleased. maria: oh, god, i loved that he was true to his hater, true what he saw as honest, in other words, he was first a democrat and then he didn't like some of the policies, he saw policies different, he was true to that and i love that he said what he felt, he was honest. dagen: that's why you didn't have to know charles krauthammer, you didn't have to meet him to love him and adore him and respect him and since charles has been sick last year, i know that special report in
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the bret baier team were getting literally thousands and thousands of emails asking how he was doing. he had soaring intellect and brilliance, gift with words both spoken and written and that's how he really touched people and thank you to charles for everything that he's given us but for writing that good-bye letter to us and letting us say good-bye to him and i think that that was closure. maria: that's true. dagen: but we will always remember him. maria: that good-bye letter was incredible. we will be right back. ♪ ♪ your insurance rates skyrocket after a scratch
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>> it was a great meeting and kim jong un will turn down and i will tell, he will turn, chairman kim will turn that country into a great successful country. maria: president trump wednesday night outlining his vision of north korea, should foreign relations continue? the two koreans some day will be unified and vast opportunities lie ahead and north of dmz. joining us joseph king, ceo, dr. kim, good to see you, thank you so much for joining us. >> great to be here. maria: you have been to korea 70 times over the years. tell us how it's changed and what kind of opportunity you do envision? >> absolutely, thank you, great to be here. koreas are right now especially in seoul it's very buzzed with excitement and great optimism of
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peace, you know, so about 15 miles away from the border and within range of north korea, so they are always a threat, vibrant economy. twelfth largest economy in the world and the prospects of having unified korea, i think, is a great thing. maria: you believe it, you believe that perhaps he will denuclearize? >> i believe so. there's so much opportunity with that because as a hermit kingdom, you cannot continue the way it is. kevin: how big impediment is china in this situation? if you look at south korea and you look at allies versus north korea and their allies and you see south korea is completely predicated on, you know, the global supply chain especially when it comes to technology and when you look at their neighbors to the north it's more minerals,
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resources and that's more in the chinese camp, what they want especially for ambitions and their 2025 plan, so where does this play out in china's role in that? >> well, china is absolutely important for the korean peninsula. south korea -- china is south south korea's largest trading partner right now. it's not the u.s. and japan and north korea and china really encompasses the neighborhood. it really is going to be the progress in korean peninsula is going to be predicated on the progress between the progress between u.s. and china relations. china is the big brother for north korea. lee: so i have a question, so here in the states, just over 50% of americans think that the deal that was made between donald trump and kim jong un was the right move, it was a step in the right direction and they think that this is going to be the future of a great
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relationship. how do people in south korea, do they have the same level of trust or optimistic or is it a different landscape? >> i think it's a guarded optimism. i think they feel that it is a step -- strong step forward. obviously a lot of hard work needs to be done but the way it has been for the last 50 years it's not sustainable so they believe the two leaderships from kim jong un and president donald trump perhaps will provide the out of the box thinking and progress. dagen: in terms of the economy, the limited economy within north korea, what would north korea bring to the rest of the world? it's hard to separate what is going on in terms of the nuclear aggression, the human rights abuses within that country by the kim regular -- regime, but what would country bring to the
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world and intellect? >> it is believed that north korea has one of the largest reserves for rare minerals and $6 trillion of minerals within their country. obviously south korea and north korea have the same gdp in 1976 and so the government actually does matter, the policies matter. i think the better or even unified koreas can utilize the resources and the vibrant economy of the south along with potential larger labor pool from north korea to make the koreas, collective koreans even better. maria: minerals, energy, you point to south korean companies, hyundai and samsung as perhaps possibility waiting in the wings for north korea to open up. what kind of business would open
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up? >> well, i think a lot of the industries -- growth industries, technology, just think about it. there's really no infrastructure in north korea. so a lot of the tech and infrastructure, roads, construction to start with, i think president trump had a promotional video with condos in the coast of north korea. it's a blank canvas. maria: you're the ceo of inovio, where's the growth of inovio? >> we have businesses in korea, we have partnerships in china, we are seeking partnerships all across europe and japan and elsewhere in asia, so we are developing new cancer therapies based on empowering the patient's own immune system called immuno therapies, we have pivotal studies going on for treating cervical precancer and
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cancers. maria: we will leave it there. dr. kim, good to see you. dr. joseph kim there. chipotle taking cue, mexican flair. losing its shine, we will tell you why back in a minute right here. thank you so much.
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and i know who can help them do it. >> thanks for joining us. it is friday, june 22nd. it is 6:30 a.m. on the east coast. investors shaking off nagging trade worries and needle on a strong note, indicating a gain of 100 points, the down the thrills up as is the s&p. those trade tensions dragged markets down, the dow and s&p negative, the dow closing for the eighth session in a row, the longest losing streak since march of last year, the dow is down 200 points, the s&p down 17 and the nasdaq lost 68. a rally underway as we do in the us come all major indices are up with the s&p and the cac quarante up 3 quarters of one
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person, markets close hire except for japan. investors turning to opec, oil producers announcing whether to increase output. iran is against increasing output was the price of oil is $66 a barrel ahead of the eu decision. retaliatory tariffs on $3 billion worth of us products going into effect today, things like jeans, carly davidson motorcycle, bourbon, and a bomb threat shut down london's busiest train stations. goodbye roseann, hello the connors, details on the new abc spinoff without the star. chipotle expanding its palette beyond mexican food. dinosaurs charging back to the box office.
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>> you can't say here. maria: the highly anticipated jurassic world hits theaters. the top story looking to rebound, the dow is in the midst of the longest losing streak since march, joining us is sean o'hara. what are you watching? where do you see the flow? >> such great economic news, low inflation, low interest rates and good earnings and every day there is a headline that gets in the way, the market is skittish trying to figure out what is real and what is not and can this market sustain itself based on earnings? maria: are investors changing where they put money? >> flows coming into
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strategies, moving in and out of equities. we see big flows into high-quality value strategies like task house. and on the technology side, and tariffs and things of that nature, and added macy's to the portfolio. and dick's sporting-goods and footlocker, there have been amazing stocks. they are more resilient because they are so inexpensive versus free cash flow and if you are worried about trade, you can move that. and you like shipmakers, micron technology and if you're interested in the internet of
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things and artificial intelligence, it is critical to that. very inexpensive stock. >> he won the most important things like retail sales showing it completely blue away expectations so the consumers talking about economic data, we saw interesting things out of the supreme court. the sales tax, that was all the fervor, and the retail story going forward so the retail apocalypses over. what do you see? >> they figured out how to manage in this new world, e-commerce is 10% of sales and projected to go to 15%. 80% of sales on brick and mortar, still it is not going to 0, you have operators who figured out supply chain logistics, bad stores don't produce the right amount of revenue or profit and they come through this all day.
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the e-commerce story is interesting. when you press send on your computer to buy something online to when they press your doorbell you can track the transaction through publicly traded real estate, cell phone towers, data centers which is a huge growing business that happens to be in a bad neighborhood but when you look at the cell phone towers, their business will continue to grow and a secondary piece of this. it relies on the infrastructure and has to grow, we launched a real estate etf that owns that leg of it. >> 80% of internet traffic goes through their servers. and they had their analyst day
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two days ago and analysts up all their expectations because they expect revenue growth of 8% to 10% up to 2022 and earning growth of 20% or more. all these companies want to be next to each other, google and we hook up servers together. maria: what about tech? and they hit all-time highs this week. >> it is an oxymoron. actually the biggest holding is technology but not the names everybody thinks about. it is the chipmaker. micron technology trades single digit pes, their free cash flow is huge and guild is high. technology is not going anywhere.
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ai, autonomous driving, we will have a refrigerator. and that is connected to cell phone networks. that is a long way to go, it is not done without the chips. >> the rules that states can collect sales taxes, it doesn't impact the largest 100 internet retailers, 96% of sales from the top 100 internet retailers already taxed. it does potentially open the door for states in dire financial straits like connecticut, to say we will not only force collection of sales taxes but let's start taxing not just web purchases but streaming services and things like that.
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that is one of the confirms the wall street journal points out today which investment managers, the bottom line impact on all internet related businesses. maria: when the rule that they weren't paying taxes was first implemented, online shopping wasn't where it is today. >> the original ruling. maria: online is so strong. >> it is 10% of overall sales but retail real estate is 7%. >> shouldn't we have the beatles on the taxman paying in the background? dagen: states increasing authority to collect taxes from internet businesses and you have the tariffs, those are a tax. tariffs are taxes. i was finishing a thought about the tariff thing, taxes, tariffs are taxes and that is something markets --
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>> nobody argued that. >> there is a way to deal with that, to buy small caps and mid-caps, best performers are small caps or to look for companies that don't necessarily have a cross-border business, and the market has overall strength to plow through impediments. dagen: states and investors haven't figured out tariffs are attacks, you have internet taxes going up, tariffs equating taxes getting more. >> maybe the trade situations. and don't know right now. >> underlying fundamentals are great. maria: it is uncertainty.
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>> what the general population thinks, and it is not certain. >> i put you on and look at the future. and -- maria: you would be putting new money to work in this market. >> if we rebalanced our portfolios, there are four of those. we increase the dividend and quality of what we own. we focus on big indexes, the dow and s&p had nasdaq, investors should be investors, buying things based on solid fundamentals, relative to everything else and make money in the long run. maria: we have a rally underway with the dow up 112. a bomb threat in london? a train station closed during
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rush hour after a man claims to have explosives. breaking the balance coming up. avocado toasted milkshakes, a couple new menu items at chipotle. new details on the restaurant re/max, back in a moment. ♪ ♪ something something from the city ♪ my money ♪ play something country ♪ then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.
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>> futures indicating a gain at the start of trading. a busy london subway station evacuated after a man claims to have a bomb. susan, good morning. >> reporter: british police arresting a 38-year-old man after he was found on the track claiming to have a bomb. no one was injured in this incident. the station has been reopened,
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britain is on its second-highest threat level meaning of terror attack is considered highly likely. after weeks of speculation, abc has announced they are giving the green light to a spinoff of roseann called the connors. it will star all the original cast members except for roseann bar herself. she will have no freedom or financial involvement in the program. it is set to debut this fall in the same timeslot roseann occupied for its brief run this year. chip only making an effort to attract more customers cooking up avocado, quesadillas being rolled out at new york city test kitchen. milkshakes are being added with a hint of chipotle chili with notches. changes signal a change in strategy for chipotle which has
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long resisted new items. and chipotle and shares of chipotle up from 60%. chipotle chili and milkshake. >> are you interested here? >> just the milkshake. >> the mexican restaurant? dagen: other than a mexican drink made with rice milk, and i don't know. it is heartburn. >> line milkshake? i am purple by the idea, trying to take it in. maria: shake shack in miami beach had a frozen custard and
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it is made with key lime pie that is made locally, key lime pie and frozen custard, that makes sense to me. lime milkshakes, one of the most things that you would like. coming up we are talking movies, jurassic world:fallen kingdom more into theaters which might not take as big a bite out of the box office as its predecessor. find out why right here. ♪ man: i got scar tissue there.
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>> those creatures were here before us. if we are not careful, they are going to be hereafter. maria: that is a sneak peek at jurassic world:fallen kingdom. it stars chris pratt, bryce dallas howard and hit theaters this weekend. you are excited for this. >> i love this movie, they have made it off the island and look to take a big bite out of the box office. maria: look like they are coming from the ocean. >> a lot going on here. all the things you love and expect from the jurassic world movies. as one delivers again, popular at the box office coming in at number one. 1252 $130 million which is
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below the last one. $130 million, brings in $30 million, i wouldn't be surprised if this does the same thing. maria: does it take out the incredibles? >> the first or second time in box office history two weeks ago. maria: solo, disappointing performance, disney is looking to look for star wars spinoff films on hold. >> lucasfilm is denying this but could be -- another trilogy in the works after the current skywalker trilogy wraps up with episode ix in december 2019. they pump out these movies a little too quick and they want to pull back a little bit, and
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reassess these star wars stories and characters. maria: this has released a film every year since 2000 film -- 2015. is the public having some fatigue? >> there was so much demand, a 20 year gap in the latest star wars and when you pump about the demand starts to wane and people look to other things. maria: there is the creed marking the eighth installment in the rocky franchise. >> all these cheap shots, people like me, people that need you.
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maria: i love this series? and the part that everyone talks about is the reveal of drago, and adonis creed goes up, you are called drago was the villain in the fourth rocky, a slight reveal towards the end. you can follow all that but a lot to keep up with. maria: these films take you to all these characters that are able to come out again. like the son of -- >> the great thing about these franchises, so many characters and they bring in new audiences and generations. i grew up with the rocky films
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and now going with my nephew, jurassic world and star wars and all those things. have a great weekend. chevy driving into the future with a blast from the past, the blazer making a come back as suv wars come back. stay with us. ♪ and that's how he intended to keep it. then he met the love of his life. who came with a three foot, two inch bonus. for this new stepdad, it's promising to care for his daughter as if she's his own. 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
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>> maria: good friday morning. welcome back. thanks so much for joining us this morning. i'm maria bartiromo. it's friday, june 22nd. your top stories right now. markets rebounding this morning after a week filled with fears of a trade war. the s&p 500 is a half a percent, 12 points higher and the nasdaq up a third of a percent, 26 points higher. tariff concerns weighed on markets yesterday, the dow closing down for an eighth day in a row, the longest losing streak since march of last year. the nasdaq was down 68 points yesterday. in europe this morning, similar story to futures this morning and they are up, stocks are higher with the fq100 up almost a percent, as is the cac, the dax index in germany up a half a percent right now n asia overnight markets closed mostly high wear the exception of -- higher with the exception of japan. opec is set to deliver a decision on whether or not to increase output this morning. crude oil is up 1.25% ahead of
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the news. we will bring you the opec decision as soon as it hits the tape. the immigration overhaul on hold for now. house republicans delayed a vote on a compromise bill until next week after a measure failed to gain traction. >> when you looked at the earlier vote today you saw a wide range of republicans voting yes. you didn't see one democrat voting yes. clearly, the democrats don't want this issue. they want to keep exploiting kids and other people. >> we have a lot of different fractions -- factions in our conference. this is one of the better conferences i've been to where everybody is trying to get together as a team. >> maria: president trump just tweeting about the bill, saying even if we get 100 republican votes in the senate, we need 1 0 democrat votes to get a much needed immigration bill and the dems are obstructionist and they won't give votes for political
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reasons. we need to elect more republicans. the latest in the immigration debate coming this morning. a shocking new report on thely youtube -- deadly uber self driving car crash in arizona. investigators discovered the driver behind the wheel was watching hulu. a big win for brick and mortar. the supreme court ruling the states can force online retailers to pay sales tax. the impact coming up. gm taking on jeep by bringing back the blazer. our first look at the modern take of an old classic. plus, the future of fast food is here, the first entirely robot made burger taking on san francisco. we'll bring you there, coming up this morning. joining me to break it down, dagen mcdowell, kevin kelly and lee carter. great to see you this morning. >> great to be here. >> maria: a lot going on. >> it's disheartening to learn the driver was watching hulu. that's unbelievable. >> this is one of the reasons when i look at self-driving cars that they take away the steering
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wheel, it makes me afraid to think the driver won't be paying attention and can't overtake the car. at some point, if your iphone reboots, how will that happen? >> tesla makes you put your hands on the steering wheel every few seconds because they send a signal out. the fascinating aspect, if we get to autonomous driving vehicles, they'll send 100 gigabytes per minute of data in and out. it's unbelievable all the things that are -- all the technology that's happening around it. it's sending signals to tower, other cars, to street lights. it's unbelievable. >> maria: it's unfortunate. and we keep seeing that, that the driver was doing something else. >> it's the driver, not the car. >> dagen: the driver was a convicted felon too. >> maria: there's that as well. >> dagen: another issue for uber. >> maria: all those technology names like amazon, facebook, netflix, all hitting highs. this was before the online --
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the scotus online tax, the sales tax ruling. >> one of the reasons you've seen that is because the tax reform that happened in december, companies are deploying capital and reinvesting in their own business. they're doing it through technology. cisco, can you look at their guidance going forward. if you're looking to do cap ex, it's cap ex in technology. >> maria: we're going to talk about that this morning. joining the conversation, kevin hassette is with us this morning and texas congressman jeb hensling is here as well as alan dershowitz her is here. we kick off with this top story, it is immigration. the immigration reform has been delayed again. the house failing to pass a conservative bill yesterday and the leadership postponed a vote on a moderate version until next week. steve scalise commenting on where his party stands in getting the votes to fix the issue. >> we're going to keep working
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with our members. we had a very productive meeting and you saw all the members that represent different viewpoints on immigration within the republican conference, we have a wide array of viewpoints but everybody wants to solve this problem and i think that's what's been most encouraging when you looked at the earlier vote today. you saw a wide range of republicans voting yes. you didn't see one democrat voting yes. clearly, the democrats don't want this issue. they want to keep exploiting kids and other people. we want to solve this problem. >> maria: joining us right now is house financial services committee member, congressman claudia tenney of new york. it's good to see you this morning. >> good morning. great to be on. >> maria: are you prepared to vote on a moderate immigration bill. >> i'm not sure that one's coming. we had the goodlatte one of which i am a sponsor. there was a discharge petition which we averted. next week, we'll put it off
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after a long conference yesterday, hearing from a wide ranging number of views on the republican side and congressman steve scalise indicated we had a very long conversation with many, many views and i think it's really disapointing that the democrats haven't come on and joined us for this. it's a very important issue. there's some real key issues. security is paramount. we need to secure our border. we need to keep americans safe. and that's where the conservatives come in and that's where the president wants the money and the funding for the wall. on the other side of immigration there's a debate about how you get there and how we deal with the population that's are here, the so-called daca population and how to deal with new immigrants coming in. i'm very conservative but at the same time i look at this, do we really want to have only a merit based -- i mean merit based, only bringing in engineers, lawyers, doctors, people with advanced degrees or do we want all kinds of people in, people who want to be part of the
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american dream, the so-called social contract where we actually bring in americans who care about freedom and care about supporting the kind of government that we have, a constitutional republic. we need to bring people as the statue of liberty says, bring us everyone, not just people who are going to be here to fill the h2v visa jobs or whatever. some good points have been made on both sides. i would like to see us secure the border, make sure dangerous criminals aren't coming across the border, make sure american citizens are not at risk and make sure we deal with people who want to come here legally to live the american dream and live up to our values and be part of what this country stands for, preserving freedom, preserving rights and preserving the rule of law. >> maria: you make a lot of good points. >> i'm really curious. i saw polling out of california looking at the primaries that said 80% of californians wanted to see bipartisan immigration reform where there are compromises on both sides of the aisle. that's a left-leaning state.
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yet, democrats aren't willing to come to the table. are there any democrats that you know of in congress right now that are willing to have a conversation and say let's get something done. >> last night i had an interesting conversation on fox news with congressman jerimandi from california who said i want to work with you. we got off the set and he said let's come up with a bipartisan solution. i would love to do that. every bill i put out has been a bipartisan solution. let's come up with that let's stop using as congressman scalise referred to this issue to divide and to use as just a campaign piece. we are genuinely interested. if you were sitting in the republican conference yesterday, there is genuine interest to say what do we need to do to solve this problem. this is a major problem and i hear that oh, it's all just politics. not so if you were sitting in our debate yesterday.
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people have legitimate concerns. they want to deal with the immigration issue. i think we need to come to a conclusion on this. it's not going to be easy. i think we're willing to do the hard work. that was very evident yesterday in our conference. >> maria: steve scalise said the democrats don't want to be part of this. you mentioned your interview last night. the president tweeted about this moments ago. he said elect more republicans in november and we will pass the finest, fairest and most comprehensive immigration bills anywhere in the world. right now we have the dumbest and the worst. dems are doing nothing but on instructing. remember their motto, resist. ours is produce. your reaction to that, congresswoman? are you getting that kind of inaction from the other side? >> that's how it appears. we don't seem to see any democrats wanting to vote for any of the bills or any of the issues we have. we extended the olive branch yesterday obviously with my colleague from california and said let's get together and fix this. we have come monda monday inter- common interests.
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let's come together. ing th i think the president is right, how bad for the democrats to cleve to some notion of resist. shouldn't we do something to help the american people instead of resisting the president. the president is open-minded. the president likes to compromise, he likes to get us together and come up with a solution. i look at us as the republicans are very diverse in our views. we are like a coalition government. we have so many different views in one party the democrats seem to just be one-sided and it is resist. it is no matter how good the solution is, no matter what we put forth, they are determined to just say no and just resist us. and they can say we did that in the past under president obama. but under president obama he got many, many pieces of legislation passed with the republican house and senate. so we are out here trying to say help us. they didn't help us with tax reform. look how great tax reform is working. today is the six month anniversary of tax reform and it is doing so well in my district.
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all you hear from the democrats, i sit in the financial services committee, day in and day out is how terrible tax reform is. i asked all of them come up to ny22, central new york and talk to the businesses. i visited 40 or 50 so far since tax reform, and ask them how is tax reform working for you. our lower and middle income taxpayers are loving it. >> maria: we've seen it in the economic growth numbers, talking about 4% growth. we know that. are you going to do a tax cut -- >> you can't deny it. >> maria: are you going to do a tax cut 2.0. >> i would love to see is go deeper and stronger with the tax cuts, do more for the small business community. we're seeing vibrancy, even in my community which has seen unsustainable losses over the years. it's been a great thing for us. i was hard to get to on that. kevin brady did an excellent job in compromising and helping us
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with state and local tax deductions, helping with child care credits. we worked with ivanka trump to help small businesses, our women owned businesses, women in the workplace who want to have child care, the security to know their children will be with safe and secure child care. there's a lot of really good things going on and the democrats seem to want to just denounce everything we've done, resist. >> maria: want to impeach the president, we know that. >> exactly. it's the impeachment caucus that they're trying to put in. i actually think at this point with immigration, something this important, get on board with us, make the immigration problem something that is a bipartisan solution so they can also do as well as we're doing with tax reform. i think the opportunity is here. we have an unusual president who is willing to take risks. he's willing to make compromises. i think this is really an opportunity for them to jump on-board. they missed the train on tax reform. get on board now. >> maria: they have to explain
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that i expect going into the midterms, why not one of them voted for the tax package. real quick, th farm bill passed yesterday. you mentioned your district will have an impact. >> the problem with my district is we've been on pressed by new york state government. we have the highest energy costs in the nation, very high regulatory and tax burdens, especially the property tax. farmers have large -- >> maria: the governor is suing the federal government over immigration. >> is i objec incredible. the farm bill did pass work requirements for the s.n.a.p. program. that's not going to impact us so much, s.n.a.p. is a much maligned program. most recipients on average are only on the program, the food stamp program for only about 10 months. when everyone thinks it's generations of dependency, it's not. when it comes to our dairy farmers, they're dealing with a
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labor crisis and dealing with high costs of competing with nearby states like pennsylvania that has the federal minimum wager,wage, not the new york imd minimum wage which will go up to $12 an hour which makes it less exeat tier for dairy -- competitive for dairy farmers. we need to compete against canada around the nation. canada is actually cheating on their class 7 dairy pricing which is hurting our dairy farmers. we asked them to realign the pricing. we lost $58 million annually just from the change in canada's dairy pricing. so we're doing everything we can to help our dairy farmers. the farm bill helped us a little bit but we need to really do more in terms of helping our farmers deal with the pricing and cost of milk and the unprecedented lows that we're seeing in the federal milk order. >> maria: are you worried about the tariffs then? >> i'm a little worried about some of the tariffs. i outline the class 7 dairy pricing, that's the milk powders
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that are being dumped into the united states and it particularly hurts new york, number three dairy producer. we're concerned about it. we want to see the president renegotiate nafta and make it more palatable and fairer for new york farmers to compete. we have wonderful agricultural products. new york is one of the top dairy states and agriculture is the number one industry in new york state. >> maria: great to see you. thanks so much. we'll see you soon. breaking news, the president its just tweeting on immigration, he says this, republicans should stop w5e69ing their time on -- wasting their time on immigration until w after we elt more men and women in november. we could pass great legislation after the red wave. the red wave, he writes, dagen. >> dagen: the red wave, not the blue wave. we shall see. but this administration needs to get its arms around the crisis at the border because of this
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zero tolerance policy, lots of confusion particularly at human services that is responsible for handling those very children and housing them. so again, somebody came up with this idea around the conference table and nobody thought about the execution. again, the people in that white house are not doing this president favors. >> maria: by not executing well. >> dagen: right. the travel ban, the tariff rollout and now this. the president has incredible insights, great ideas. this was badly executed. >> very badly executed. i would argue there will be no red wave in november unless they get this solved now. >> maria: when we come back, new revelations about the moments before a fatal crash by a self-driving uber. officials say the safety driver was streaming a show on her phone, watching hug hulu. the latest on the investigation. plus, burger bought, a robot promises to create the freshest made to order burger, we'll find out if it's a cut above, back in
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the ibm cloud. i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. >> maria: welcome back. police now say that evidence proves that the fatal crash involving a self-driving uber car in arizona could have been avoided. susan lee has the details. >> police say the safety driver was watching a tv show on her
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phone when the car fatally struck a woman. she repeatedly looked down, not at the road, glancing up before the car hit the woman who was crossing the street at night. police say the crash was entirely avoidable if she had been paying attention. she could face charges of vehicle manslaughter. all 35 of the nation's largest banks have passed the first rounds of the annual reserve annual stress test. they simulated adverse conditions for the banks including a global recession and u.s. unemployment at 10%. this is the third year in a row that all the banks passed with a minimum amount of capital. the fed will announce next week which bank will be allowed to increase their dividends. general motors bringing back the chevrolet blazer and the company's going ahead with its plan to build the suv in mexico, despite criticism by president trump over making vehicles abroad. the original blazer was sold
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from 1982-2005. the new blazer is expected to hit showrooms early next year. shares of gm are up 20% from a year ago. for a taste of the future, you want to head to san francisco. starting next week, a restaurant there will sell burgers made by a robot. the start-up will sell a $6 burger made by a 14-foot long machine from start to finish. the robot can turn out 120 burgers an hour in several different flavors. >> maria: so that's where we're going. all right. thank you so much. happy tax reform anniversary, american workers and the economy winning thanks to the tax overhaul enacted six months ago today. some are wondering about tariffs and whether or not they are harming the benefits of the tax package. then, some cool summer toys could get your kids into hot water, a warning about the riskiest summer toys for your children. back in a moment. ♪ i don't know where she came
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>> maria: welcome back. opec set to deliver a decision on whether or not to increase output this morning at the opec meeting in vienna. crude oil is up 1.25% ahead of the decision. joining us rights now is andy lpow. good to see you. >> good to be here. >> maria: your expectations for this meeting? >> well, i expect that opec and opec producers will agree to a 1 million-barrel a day in production. that will be the headline number. in reality, they'll take that 1 million barrels and reallocate
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it amongst all of them and the actual increase will be 600,000 barrels a day. >> isn't that because not all the countries can actually produce to get up to the million barrels a day so we'll see saudi arabia do it. who is the other marginal producer in opec right now and will that 1 million-barrels include russia who is actually now aligning themselves with opec? >> well, it will include russia and the other producers in opec are the united arab emirates and cukuwaitis could produce production. others are at capacity. >> they can't produce any more barrels. so what you're saying is in order for actually opec to sway prices on oil now and going into the future it would have to be saudi arabia or russia or the kuwaitis increasing their output because the efficacy of opec has been diminished.
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>> that's exactly right. if you look around, the fact is that venezuelan oil production has declined and will continue to do so. we just saw some violence in libya that took 400,000 barrels a day off the market. investment in angola has been limited so their production has been declining. so it just really leaves a few countries in the gulf to increase production to satisfy increasing world demand. >> one of the interesting aspects is are we seeing shale producers increase their output to make up for the lack of demand? i know we're exporting oil. is the marginal shale producer at capacity? >> well, they're only limited actually by the pipeline take-away capacity coming out of the permian basin. as we see it right now, all those pipelines are full. it's very expensive to use rail and truck and as you know, it's very difficult to even find a truck driver. so the shale produc producers ae
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waiting on more pipeline capacity. we're not going to see that in a significant amount until the latter half of 2019. >> the wall street journal has a cover story about oil and it says without companies spending on new oil production, the world could slip into a supply crunch after 2020. how do you react to that? how do you see that? >> well, i do agree with them because we do have natural declines in existing oil fields and the fact is that world oil demand in the next couple years continues to grow. you see that through the international energy agency's forecast and here in the u.s. we're expecting a record gasoline driving season coming up. so it's very hard with the world economic growth to see decline in oil consumption. >> maria: so $66.38 is where oil is now. what's your expectations in terms of a range for the price? >> well, i think that you're going to see wti increase to $70 a barrel by the end of the year and on the brent side that
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should tick up to between $78 and $80 a barrel, boosted by demand. >> maria: and demand being the result of a good economy. >> well, exactly. we're seeing growth not only here in the u.s. but in europe and elsewhere and the higher oil prices of course help demand throughout the middle east as well as those other oil producers. >> maria: do you think gasoline follows wtu up this summer, obviously the summer driving season upon us. >> generally speaking it will. gasoline supplies are more than adequate to meet the demand for the upcoming season. i think that gasoline price increases are going to be tempered. right now, the national average is $2.86 this morning. i think we'll be in a range of between $2.80 and $2.90. >> maria: we'll leave it there. andy, good to see you. thanks so much. >> thank you. >> maria: what a week, a lot of news, we had a great program here. check out the top moments from
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the show this week. >> you've been following immigration for the last few years, it's been probably one of the thorniest issues within republican ranks. democrats don't want to solve the problem. they want a political issue. they've been opposing every effort to reform the broken immigration laws. >> house republicans, we took up a measure. it resolved the issue of the dreamers. it provided for border security. we got rid of the diversity lottery. we put measures in place that will change this from family to merit so we start attracting the world's best. >> what they should do is come back with a narrowly drawn bill that both keeps families together, allows for inspection in terms of exploiting children through sexual trafficking, which is a big part of this. >> i understand the emotions of this. i think we should look for a solution but i don't think everybody should say oh, we're doing this or people are doing this on purpose because they want to separate the kids. i think people truly do and are concerned about the safety of
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the children. >> people are passionate on both sides and that's why it's important that we in congress fix this, come up with a solution and try to tone the anger down. >> i never got leaked information from any fbi agent. i haven't talked to an on-duty fbi agent except for background checks in a couple years. the information he he's talking about came from retired fbi agents who were speculating about what was going to go on. we knew it would blow up. we knew just by instinct that the new york office was enraged by what comey had done. >> be purpose of the trump tariffs on high technology, they're very targeted, is to defend our industries here in america. if we get the e.u. to lower tariff barriers down instead of germany selling us three cars for every one we sell them it will be more fair. detroit will boom and that's good for america. >> people are very confident. the problem is that this confidence can relate to over-spending when you start to look at retail sales.
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the increased spending in restaurants, home improvement stores, all indicate that it's summertime. >> here's the real pain. i'm getting hundreds of calls about people concerned about their pension. it will be devastating to hundreds of thousands of employees and retirees should that happen, maria. so it's a sad day. >> it's expensive, intimidating and complex. we realized the opportunity and started wine society. >> she's 13 years old and the ceo of zoli pops and a millionaire. >> i went to the bank with my dad and they offered me a lollipop. my dad said i shouldn't have it because it's terrible for my teeth. >> dagen: russia was not prepared for this much beer drinking at the world cup. the kegs are getting low in moscow and soccer fans invaded the city. >> maria: maybe it's time to crack open the vodka once again. >> this is the world's most
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expensive milkshake, according to guinness world records. it features vanilla ice cream, rare donkey caramel sauce. it's blended and garnished with 23-carat edible gold. it's served in a custom glass covered with 3,000 premium chris crystals. what do you think it costs? any guesses? >> maria: $100. we're seeing what you're about to read. it's in the prompter. and now for the rings. (♪) i'm a four-year-old ring bearer with a bad habit of swallowing stuff. still won't eat my broccoli, though. and if you don't have the right overage, you could be paying for that pricey love band yourself. so get an allstate agent,
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and be better protected from mayhem. like me. can a ring bearer get a snack around here?
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>> maria: welcomwell good morni. welcome back. good friday morning, everybody. thanks so much nor joining us. i'm maria bartiromo. r top story right now. investors looking to shake off trade worries. the dow industrials expected to be up about 100 points right out of the gate this morning. the nasdaq is up 21. the trade tensions dragged down markets yesterday. the dow and s&p 500 were down sharply as you can see, the dow industrials down 200 points on the session, closing down for an eighth session in a row, the longest losing streak for the dow since march of last year. in europe this morning a firmer tone. european indices, the fq100 up 1%, the cac in paris up almost a percent and the dax index in germany up half a percent. in asia overnight markets closed
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mostly higher as you can see. investors watching opec this morning, oil producers are expected to announce whether or not to increase output. reportedly iran is against the move to increase output. oil prices are trading up 1.5% right now ahead of the decision. the european union is hitting back, retaliatory tariffs on more than $3 billion worth of u.s. products goes into effect today. it takes aim at things including jeans, harley davidson motorcycles, bourbon among others. paul ryan celebrating six months since tax reform saying it has improved american lives. >> tax reform has been an absolutely game-changer for people in this economy. this has already been translating into higher pay and more paths for advancement. this economic insurgeons, this economic resurgence it happened just six months ago. >> maria: kevin haslet will join me next.
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lasers becoming a growing threat for the military, the latest threat to pilots flying over the pacific. online shopping may get more expensive. the details on the supreme court ruling that may cost you. hot summer toys can be a danger to your child. the list of the most unsafe toys coming up this hour. first, our top story this half hour, today marks the six month anniversary of the largest tax code overhaul in 30 years. it was six months ago that the president signed the bill into law. hundreds of companies announced plans to pass on savings to people ever since. joining us now is kevin haslet. thanks for joining us. >> it's great to be here. >> maria: jobs are coming back to the us, consumer confidence is up, unemployment hitting a record low of 3.8%. speaker ryan said it is a game-changer. how long does this game-changer last? tell us about the runway that you expect this tax package to have. >> by the way, i was thinking about it, i think it's been
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almost exactly 20 years since you and i were first on tv together. we've been talking about tax reform almost the whole time. how many times have you interviewed me and i said if we cut the corporate rate we could get a big explosion in capital spending and that would be great for the economy. that's what happened. our models said that investment spending would go up about 9% because of the tax reform. did you notice what it went up in the first quarter? 9%. we've got a capital spending boom going on right now that's going to continue for really we think three to five years and it's going to lift wages and output and give us 3% gdp growth like president trump promised. >> maria: 3% gdp growth you're expecting for a couple years. >> more than that. >> maria: there's a narrative that things will slow down in 2020 when you consider the fact that interest rates are going higher, demographics for whatever reason we're in 10 years of this recovery. you're not seeing it. there's conversation about a recession possibly happening in 2020 or beyond. >> i hear people saying that. i don't agree with that.
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this is a game changer that you and i have been talking about for 20 years. it took that long to get it done. president trump got it done. it will take a while for all the positive effects to come back. if you look at data that came out this week, did you notice that u.s. foreign directed investment by u.s. multinationals, moving jobs overseas declined in the first quarter by more than $400 billion. at the same time, u.s. firms brought home to create jobs here in the u.s. more than $300 billion. both of these numbers were the biggest since world war ii. this is going to be a fundamental game changer. >> maria: a poll out early this week found that satisfaction with the direction of the country has reached 12 year high. on wednesday, president trump set the record straight that this is his economy. listen to what he said. >> because i hear a couple of the fakeers the other day say i think it's obama's economy. obama's economy?
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obama. [boos] >> they would have put on more regulation, they want to take back the tax cuts, which are massive, they want to take them back and they want to raise your taxes and the whole thing will go boom. >> maria: he loves riling up the crowd. it's great. satisfaction rate hitting a 12 year high. what about that? if we were to see a change in november, how likely is it that nancy pelosi leads a revolution in terms of changing this and taking back these tax cuts? >> if i were nancy pelosi and the democrats, i would be really nervous about the fact that the economy's doing precisely what president trump and his team have been saying it would do which is growing at 3%. remember, they said it was impossible that we were stuck at 1.5%. in 2016, president obama's last year, the big ree regulations ah taxes were so terrible.
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now we've got a boom they said was impossible happening. one of the things i saw in that l poll that your staff was kind enough to e-mail to me was that satisfaction with the economy is at 65. the satisfaction of the economy is about as good as i've ever seen, maybe going back to the first time i was on your show in the late '90s. satisfaction with the economy is enormous. there's a lot of political tension because we're divided as a nation. as people look at the economy, they're going to recognize that presidenthat's policy -- that pt trump's policies are delivering. >> maria: how should we look at the tariffs? there's a feeling that the tariffs obviously are a tax and that's going to impact the economic growth that we've seen as a result of the tax reform package. are you worried that things are going to start getting expensive because of the president's policies on trade and tariffs and perhaps that cuts into growth. >> well, i think the president
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is a disrupter. he disrupts terrible policies. one of the terrible policies for american workers is that other countries have much higher tariff barriers and tariffs, nontariff barriers and tariffs on our stuff than we have on their stuff. if he accomplishes that's a positive for the u.s. economy. that must be what firms are thinking. if foreign investment is dropping and capital spending and new job creation in the u.s. is so high, it must be people are looking forward to a positive equilibrium. >> maria: the e.u.'s tariffs against the u.s. go into effect today. we're talking about motorcycles, peanut butter, bourbon, cranberries, orange juice, to name a few of the products that will be taxed. is it fair to say those products will likely see increases in prices? >> yeah, i think it's fair to say that those industries will suffer because the european tariffs and then think about that thought, right, so the europeans have a 10% tariff on
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our automobiles which is in place before president trump did anything and those 10% tariff% harmful to american workers. president trump's position is just enough, enough. you heard at the g-7, he said let's go to zero. he wants a better world with more free trade that's similar metric. >> maria: we'll be watching this. congrats on the passage of tax reform, a good look there. coming up, military pilots are under attack from lasers. we have the story coming up. a warning for parents, some summer toys could leave kids seriously hurt. find out the worst toys for your kids, we've got the list. back in a minute. ♪ i really want to love somebody. ♪ i really want to dance the night away. ♪ i know we're only halfway there.
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applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day, so you can stay home. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen, 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.
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>> maria: welcome back. american military planes flying over the south china sea reportedly hit by lasers more than 20 times in recent months. susan lee has the headlines today. >> officials say all the incidents occurred in an area where the chinese military operates. the lasers appear to be coming from chinese fishing boats and a also from shore. they can temporarily blind pilots and cause eye damage. u.s. officials wouldn't definitively confirm that chinese personnel were actually behind all of these incidents. ups reached a tentative deal with the teamsters union on a new contract avisiterrin avertie strike. the deal calls for wages going up over five years and a starting wage of $13 an hour for part-time workers. ups will expand deliveries of saturday and possibly on sunday as well. shares of ups are higher ahead of the open. and yes, it's that time of the
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year once again. world against toys causing harm, releasing the 2018 list of potential safety concerns. all terrain vehicles are prone to overturning and collisions and backyard in-ground and above ground pools should have multiple barriers put up close to them. low riding wheel toys like big wheels are hard for drivers to see from roads or driveways and lawn darts can potentially lead to blunt impact injuries. water balloon slingshots named as the most hazardous toy this summer. they say the balloons can cause eye injuries and pose a choking hazard for young children. you want to be careful out there. >> maria: thanks very much. we'll have that list on the website, i guess, as well. that's pretty obvious, those water balloons. >> dagen: anbody miller's little girl drowned at a pool at a
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party. i have a friend whose son was killed on one of those all terrain vehicles. he was very young. so it's very serious and so it's good to know the viewers will be able to get that list on the website. >> maria: when we come back, the high court's landmark sales tax ruling, a big win for traditional retailers. we break down the impact on small businesses and shoppers, coming up. back in a moment. ♪ we started making wine in 1948... [sfx: bottle sounds on conveyor] one bottle at a time. today, we produce nearly 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting internationally. now we're working with them on cybersecurity. my grandfather
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>> maria: welcome back. the supreme court handing a big win to brick and mortar retail yesterday. the ruled states can force online retailers like amazon to
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collect sales tax. joining us right now is tom mcgee. tom, good to see you. >> thank you for having me. >> maria: the impact of this, how do you see it. >> first of all, we're thrilled with the decision. we think it's a real victory for market principles. the court identified there was an unlevel playing field for brick and mortar retailers. this is something we advocated for years around. i think what you'll see now is many states following the lead of south dakota and implementing similar pieces of legislation. >> maria: initially online shopping wasn't as robust as it is today. it's hard to make the argument that they shouldn't pay taxes today. >> they have a virtual presence in every state. so i think it's a different world than the decision was back in 1992 which was made in an era of mail order, well before online shopping became a reality. >> one of the biggest things is e-commerce growth has been 162%.
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one of the fascinating things came out of recon, it was fascinating to me because home doughomedepot said we've got 55n square feet of distribution space. it's taken us 40 years to get there. we're general to double it in the next -- we're going to double it in the next five years. where do you see brick and mortar retailers going? will they use their own stores as their own warehouses to do shipping around the country. industrial real estate rent is up 9% so far. >> i think you'll see some of that. the physical store is the ability to solve the next mile. what you're seeing retailers do is invest in physical store networks, creating that kind of experience we're talking about. whether you're a large established retailer like large department stores, they're now investing and reinvigorating and digitally native retailers are investing in stores. the most recent round of vc funding for a young, digitally
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native retailer, 70% of that funding went to build out a store network. retailers are starting to understand the store is the hub of their ability to serve their customers. it not only grows in-store sales but it grows online sales as well. >> maria: how is the environment right now, what is the backdrop in terms of retail and consumer spending. >> we have a strong economy, strong consumer sentiment, strong job market. there's the fundamentals for strong retail sales. retail sales have been dropping this year. there's a greater level of optimism than the prior year or two years. i think you're seeing an industry that really is recree recreating itself, building from a position of strength. the term retail apock li apocals not the correct term. we're seeing a retail
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renaissance. >> marriott has a extra tea gentlemestrategicpartnership wiy groups where they're building hotels at the mall locations. you're seeing this renaissance happen throughout and rejuvenation into the real estate realm where now the store front is no longer four walls anymore. it's endless. in the courtyards, can you talk about that. >> this whole concept of mixed use is a hot trend right now. i think it plays a lot to what consumers want. you have baby boomers that tend to be empty nesters, they like to live, work and play in one place. you have millennials that are pre-kids, pre-marriage often. they want to live, work and play and this mixed use concept of apartment buildings, townhouses, retail, office complexes, all in one place is what the consumer wants and so i think the industry's adapting to that which is what retail has always done. retail by its nature is the ultimate consumer-facing industry. it has to adapt to what consumers want.
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that's what's happening right now. >> maria: thank you so much for joining us. tom gee joining us there. the brand-new hard rock hotel features a giant guitar and a giant spelling error. the guitar goof coming up next hour, "mornings with maria." stay with us. ♪ how do you win at business? 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
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. maria: welcome back good friday morning thanks for joining us. i'm maria bartiromo. friday june 22 top stories right now 8:00 a.m. on the east coast, markets expected to rally at start of trading this morning, looking to go out high note after a weak fraught with tensions over tariffs futures a gain start of trading 115 points on the dow 27 points higher on nasdaq trade concerns weighed heavily on markets certainly yesterday the dow down almost 200 points closing down for the 8th day in a row yesterday longest losing streak since march last year in europe different story as the futures this morning european markets are higher across the board, ft 100 up better than 1% cac quarante paris up almost 1% dax in germany up a half of a percent. >> asia overnight markets mostly higher exception of japan, breaking news right now, on opec reuters report being they agreed to output increase one million dollars
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per day crude oil 6652 up 1 1/2%, that is exactly what our guests predicted a million card there a day increase by opec ministries getting out of vienna. >> overhaul on hold house republicans delaying a vote on compromise bill to next week after hard line measure failed to gain traction. >> we have a wide array of vice presidents frankly everybody wants to solve this problem you saw wide range of republicans voting "yes" you didn't see one democrat voting "yes". >> latest on immigration debate, roseanne barred from her show first details on abc new plan spin-off weeks after the reboot was canceled over a controversial tweet from roseanne, a new partnership spacex a major contract at the air force when expected to take off, hard mistake at atlantic city hotel coming to
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up break it down dagen mcdowell, benchmark managing pairn kevin kelly, lee carter great to see everybody. >> great to be here. >> what a mistake. >> i was looking -- >> doing this. >> keeping any glasses on i want to see. >> one of the important things markets up actually the bank stress test that happened yesterday 35 banks, that all passed with flying colors, the important thing it was originally 38, and earlier this year we saw republican congress, got through financial services reform reforming dodd-frank, if you are a bank with 100 billion or less, in assets you didn't have to reply banks can steer clear of burdensome regulation that hampered them had to put resources in energy towards complying, and now can deploy in lend to go real economy. maria: you think financials are leading this. >> financials are leading one of those things why next week approval to increase defendiffe5
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banks through no problem stress test well banks are one of the largest sectors of s&p 500. >> sure. >> i can't wait alan dershowitz. >> wooefbt talked about devin nunes "sunday morning futures" about devin nunes said there is hell to play if i don't get documents ready from fbi doj this week. >> you have been all over this story, really from the beginning, from the dnc, the moment that the democrats cooked up the russian conspiracies theories so i can't wait to hear conversation with dershowitz. >> going to be great alan dershowitz coming up joining conversation, stephanie pomboy favorite economist here her check on economy. >> alan dershowitz talking aboutig report fbi doj don't miss it that is coming up, first our top story this hour,
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immigration clarification lawmakers on capitol hill failing to pass one immigration bill yesterday, and delaying the other, meanwhile, at the white house president trump insisting his administration's zero-tolerance policy for illegal border crossings must remain in effect watch. >> if you took zero tolerance away, everybody would come right now there would be getting their little belongings unfortunately and heading up, you would be you wouldn't have a run on this country the looiks of which nobody was ever seen. >> the first lady was near u.s. mexico border for a surprise visit, to a facility housing immigrant children, president trump tweeted this morning, this, republicans should stop wasting time on immigration until after we elect more senators and congress men and women in november, dems playing games no intention of doing anything to solve this decades old problem we can he can pass great legislation after the red wave talking about a lot
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of winning, this november in midterm elections red wave joining us chairman house financial services committee chain migration jim hencealing of texas you are a border townhouse leadership is scrambling to get votes on bill the president said it you should wait until not have been do you support that move? >> well, to me there is never a bad time, to try to improve our border security, frankly would i like the hold senate accountable you know you can never underestimate their capacity to do nothing. but i think it would be somewhat clarifying, so i am sorry that the goodlatte mccaul bill didn't quite make it yesterday negotiating are taking place, the legislation takes a long time i have been here long enough to know that sometimes it takes multiple conferences bottom line illegal immigration continues a huge threat to national
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security and economic security, and rule of law, and we need to get even more unified around a position, so listen i will let speaker and president work out the timing but we need to get this done. >> congressman tenney was on show said definitely bipartisan interest in getting something done right now, despite the fact there is nothing but resist on side of democrats and media are you having conversations across the aisle saying we want to make a deal here and get something done for the american people? >> well, i am permanently working on cap markets legislation myself as chairman of the house financial services committee. so i must admit in democrats that i talk to i am not seeing a lot of interest, i mean face it in january, this president put a very generous offer on the table, to deal with even more dreamers than the democrats had even brought to the table. and that was rejected i fear
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particularly the democrat leadership is more interested in exploiting the problem than solving the problem there may be a democrats talking to chairman goodlatte or chairman mccaul they are not talking to me. >> have you had communication with the administration on how they are handling or fallen through on the president's executive order to keep families together? when they illegally try to cross the border? because, certainly there is a lot of confusion between the different agencies, whether this is department of defense, helping human services who is responsible for taking care of young individual young migrants who across the border, again, it is even an issue how as if can government find facilities to house families can you give us an update on that? because with the republican in the white house, ultimately, the proclaim is also false on you the republicans in congress. >> well, personally have not
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spoken to the administration about this but as a member of congress from texas i have been to the border many times, i have visited these detention facilities i must admit the people in our border patrol immigration, customs some of the finest government workers you will find doing everything they can, and in a bad situation, to treat people, human mainly, so the president has a connumb brum trying to enforce the law, illegal immigration is illegal, and you have the decision from 20 years ago that says that you cannot dane children more than 20 days, so part of the answer is more judges administrative law judges to handle these claims, of asylum, certainly more frankly emergency appropriations to deal with facilities. the facilities have to be
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enlarged we need more of them, but ultimately, we want people coming to america the legal way we want them to roll up sleeves work hard be economic assets look at americans a nation of immigrants we need legal immigrants people again to be economic assets not economic liabilities the administration has a challenge i don't know the details, but i know we have a lot of great men and women in the border patrol in ice, and i think they can handle the situation. >> makes perfect sense what are your colleagues on left say when you say that, i mean we want immigration but we want legal immigration. >> well, again i am sure they wish to exploit a situation more than solve a situation frankly many want a concept of open borders, i think that they want a bunch of people to come here get dependent upon government services, and give them their vote i mean that is kind of a cynic in me saying -- i have had conversations with a number to rightfully
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conclude that is the least what is motivating some, otherwise they would have taken the president's very generous offer comrain the president was position very generous offer willing to give democrats things they didn't ask for, all he got was -- >> didn't vote for tax plan, today six mince since tax reform was enacted into law, your reflections half a we are out tell us what you would like to do didn't get done perhaps would you like to work on for next leg of this how do you see it. >> number one you can't find any it is hard to find bad news in the tax plan, you know a million new jobs, tied for the lowest unemployment 50 years income on the rise, more so he than any time last decade small business optimism off the chart there is no greeter economic stimulus than business optimism things i like to -- number one historic once in a generation tax reform i would like to work on
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cap gains tax relief would i like, you know, one of the things we didn't quite nail down was simplicity one of our goals there is more to do, i would hope we get bipartisan byin i don't know if we can my hat is off to the president speaker chairman brady house side did a fantastic job, and a difference between the obama 1.7% economy, and the trump you know we are averaging 3% economy, consensus is for the second quarter 2018 probably at 4% economic growth. so if you look at the history of america, almost all of our job creation, almost all our income, risees profit reduction happens in 3% plus growth years, that is happening under this republican administration. this republican congress. >> you need that for deficits we are facing aren't. >> you for sure let's also remember if you believe that
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tax cuts are to spay for themselves, so long as the economy is averaging over 2.8% it is paying for itself, increased revenue is part of the deficit solution. ultimately, we have to reform current entitlement programs for future generations, again, something that bank by un all we have received is -- >> a bank capital formation package senate agreed to take that up. >> they have agreed to take that up, and this is wonderful news because unfortunately, as recently as 2016, entrepreneurship was at a 40-year low, means still in america you got too many garages with old cars not enough with new start-ups. what we've also seen, is that ipos in 20 year slide that we have half the ipos that we had 20 years ago. we are not going to compete with china, unless we turn that around, we're not going to have long term 3% plus growth until we turn that
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around. maria one of the good news items historically capital formation has been bipartisan issue the jobs act business start-up defined in law by president obama so i am telling democrats he is kind of giving you license to work on this this is about main street investors having more vote. opportunities, it is about competing with china, it is about longer term economic growth it is about going to be capital to small business start-ups something the whole family can join in on. maria: congressman you mentioned china let me ask you i know treasury is working on releasing those vote. restrictions, and details there, to china, along with the tariffs the president has put into place. what kind of restrictions are we talking about? i mean would you go as far as limiting the number of ipos that the chinese can take public on the new york stock exchange? >> well, i haven't studied
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that issue we are doing reform what is known cfius, china thing intellectual property, high technology, part and parcel of their made in china 2025 plan. and so it is something that has to be confronted particularly for national defense we've got to be careful about this technology intellectual property, going to china again doing the it by hook and crook, violating all the rules of the wto that is where the real problem is, so i haven't looked at the ipo problem per se but let's face it, i mean so -- now some companies ultimately state owned companies actors we can't be any eave senate
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passed a version to update this house, i think we are going to be taking this up next week on the house interior, we will go to conference, get a bill on the president's desk soon. >> good to see you thanks so much. >> thank you. >> jeff hensarling this morning. >> spacex another major account how much military is playing for launch of a statistic light. one giant typo hard rock hotel casino scrambling to fix a spelling error on a giant investigator we wil guitar we wl tell you all about it stay with us. ♪ ♪ 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.
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at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. maria: a roseanne spin-off without the title character susan li with details. >> that is right official after week of speculation abc announced they are giving the green light to spin off roseanne the show called the coners, all original cast except, of course, roseanne barr abc says she will have no creative or financial involvement in the show, about the coners to debut fall in same slot that roseanne occupied for this year. >> spacex won 130-million-dollar contract with u.s. air force, the
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company powerful heavy rocket will launch a classified satellite for the very first time, the air force confirming a joint venture of boeing and lockheed martin was in contention, they said presidents coo praising the decision spacex pleased to offer american taxpayer cost effective reliable services for vital national security space missions that is is expected to headed skyward summer or fall 2020, new hard rock hotel casino atlantic city new jersey a 30 foot tall guitar but with a misspelled word the world rhythm misspelled put extra letter "e", officials saying typo was corrected by removing the extra letter hard rock hotel casino to open next thursday i
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will be heading there let you know if they corrected that. >> cool, okay. good we will see from you there then susan thank you futures upward we are expecting a good rally start of trading as you see up 130 points, this is high of the morning right here -- stephanie pomboy says a summer selloff could be on horizon she is on her way here. >> avocado toast could come to chipotle near you back in a moment. ♪ ♪ hi.i just wanted to tell you that chevy won a j.d.power dependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award
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for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm...
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only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about today. go long. maria: we are expecting strong opening this morning, markets looking to open in a high note after a -- dow
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declined nearly 200 points yesterday to post 8th executive session of losses the longest run dlail declines over a year guest says summer sell-off could be on the way joining us stephanie pomboy good to see you now you have been worried about consumer broad outlook in terms of the economy do you think stocks are going to react. >> i think so i think overdo, one thing i have been watching is the forward earnings expectations on january 1, the earnings up 2019, 10.8% at the time the economy was you know, hitting all cylinders the end last year on tax cut expectations and citigroup economic index the ultimately barometer of the tone economic data 84, 5 months, six months later the citigroup suppliers
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index is 8 the forward earnings unchanged, nothing moved in terms of estimates for 2019 earnings even as data disappointed during that stretch. >> i tell you why, right, earnings season came out xoenz came out they beat and raised guidelines higher, so when you have an economic index, that isn't anticipating the beat raise higher that is situation why we haven't seen earnings guidelines come down they have not only matched it, they have increased it for next year. >> two things, on the -- expectation is rooted in obviously where people think the economy is going to be second half of the year, second quarter, we are going to see stronger number, that is going to be temporary for a variety of reasons number one if you look at may was strong june is already tailed off, you also have real average hourly earnings, zero growth, for thes consumer real time not you know xacapacity is not
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sustainable, tax receipts not borne out by tax receipt data last word what is happening tax receipt growth slowed i think another issue that i am looking at is the s&p earnings numbers, differ vastly from the government measures profits in first quarter, s&p puts earnings growth 24 percent year-on-year government accounts far broader capture all u.s. companies rather than just 500 of the largest, was up .1%, only seen a gap that large between the -- three times so far 1987, 194 going into soft landing 95 and 2000 every instance the miss on numbers the ones to watch the s&p numbers came down to meet those. >>.
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dagen: with larger government numbers on profit growth, that also captures a lot of smaller businesses. >> right who would be beginning to benefit from tax cuts. >> surprising thing you would have expected that number to be strong, because the small business where is the ones paying the full tax rate none of s&p 500 companies paying the 35%, all configuring ways around it surprising, and i think a little troubling to see the broader measures are. >> a disconnect when small cap space russell 2000 high after high after high dow low after low after low, seven-day spin looking at so you are seeing divergence small caps don't pay that higher statutory rate it will trickle in third, fourth quarter the tax cuts came through but not instan
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containous wait for capex to roll through 30 day payrolls, everything that has to happen for that for numbers to take effect not going to show up needle you see third and fourth quarter. >> we will see if it is the increase is really as substantial as the s&p numbers, my you know again when you go back in history we've had tax cuts before where you have not had this kind of gap, between the two measures, also, you know i don't look at markets as last word on what is happening the markets are fallible markets were hitting all-time highs obviously 2000 as economy going into recession so you know i wouldn't point to the small cap performance, as evidence that small businesses are doing much better, it is market expectations that they are going to see, the benefits. but the other side of this that really i think is big story the biggest risk to stock market is credit side we're seeing now departure of
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stock market from what is happening in the credit markets, where the fed has been obviously raising rates tightening credit conditions draining reserves from banking system, and capacity to lend is therefore -- not surprisingly banks in response, creditors in general have lowered their credit standards because they are trying to find new sources of loans. >> i asked sheila about that yesterday. >> and credit cards. >> and leveraged loans issue anz so off the charts, that it is now surpassed junk market market cap 1.2 trillion junk one trillion this market is siel ently mushroomed, you are seeing a massive lowering credit standards 75% of issuance now like versus 17% back in 2007 in heyday. >> since 2014, so i have seen headlines, the levered loan market isn't new went to you
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know, like covenants on a corporate this is on the corporate side right, if you look at the shock to the system, it should not reverberate to 2007 because that was more of a real economy this is more in you are talking about levined, through financial markets so it is hard to see the should there be distress in levered loans knock-on effect? >> i am using as capital of credit market in general, credit conditions if you works with the fed, taking back monetary accommodations you are seeing a degradation of loan standards and coming at a time when corporate sector has to roll a trillion dollars of debt here spreads are widening out that is going to catch people whether levered loan market or weak links i am
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highlighting degradation lending standards. dagen: watch cd you talk history if you go to financial crisis 2008 was in 2007 that. >> exactly right. dagen: credit and bond market had fallen boert bear stearns huge funds gone -- >> record october of that year entire home loan market was just -- in% ill. >> this summer could be like summer 2007 when that sleepy cornerr asset backed commercial paper market starting to fall apart, domino's started to be october did catch up credit leads you are seeing a real tightening of conditions there we've got a lot of debt that still has to roll. >> how significant are you expecting in stocks. >> substantial talked 30%, i think given the valuation extremes that we are at right now that could be easy.
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>> good to see you -- >> happy summer. >> stephanie pomboy. >> get insights, thank you hell to pay, house intelligence committee chairman devin nunes through down the gauntlet on "sunday morning futures" demanding documents by past wednesday decline has broken we look what happens now a boost why your morning coffee may do you more than keeping you wake, al alan dershowitz other side of this break stay with us. ♪ brighthouse financial allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. ♪ ♪
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stories 8:30 a.m. on the east coast, investors looking to shake off those nagging trade worries today, and end the week on strong note futures indicating a rally start of trading, 125 points, one half of 1% trade tensions dragged down market yesterday dow and s&p 500 under pressure 200 point sell-off for the dow was the -- a decline for -- the 8th day in a row longest losing streak since march last year in europe this morning indices higher, along with the futures, this morning, ft 100 up 1 1/3 cac quarante up 1% dax up a third of a percent,
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in asia overnight markets closed mostly higher exception of japan, as you can see, this just in reuters reporting opec oil ministers in vienna agreed to increase out pickup truck by a million barrels a day we told you earlier in the show. the price of oil about reacted up almost 2% up 1 abnd 1 2/3 percent on that decision, time is up for the department of justice, house republicans turning up the heat, in their standoff with rod rosenstein over a demand for documents, house speaker paul ryan says he expected cooperation. >> i am in support of managing sure we get the documents we rightly deserve, that we legitimately requested, we expect compliance. >> alan dershowitz joins me neeks latest on standoff. >> south texas floods trigger hundreds of kwuz latest on
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worst weather since hurricane harvey moviepass surge pricing if you are a subscriber chipotle branching out expanding beyond mexican food a closer look can four cups a day keep doctor away latest on apparent health benefit of coffee this morning. >> first this top story half an hour hell to pay delay. >> documents do not begin to be turned over tomorrow and -- and a clear way path forward for everything else is not clear here in the next couple days, there is going to be hell to pay by wednesday morning. >> devin nunes with me last sunday on "sunday morning futures," on fox news, he had a warning that if he does not receive certain documents from the department of justice regarding the clinton e-mail and trump-russia investigations it is not just
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chairman nines pressing the justice department for documents house speaker paul ryan voiced his support getting the information. >> i am in support of making sure we get the documents we rightly deserve, that we legitimately requested, we expect compliance i am still getting daley reports from committee chairs, about the -- the progress on compliance i am going to regroup with them tomorrow, but i expect them to comply with all our very legitimate document requests because this iss legitimate congressional oversight of the executive branch. >> joining me alan dershowitz harvard law professor emeritus author of case begins impeaching trump thanks for joining us. >> thank you. >> devin nunes looking for any documents, and trey gowdy as well any documents that relate to the trump-russian collusion investigation which was launched in july of 2016, they want to know what intelligence was used to launch such an
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investigation any documentation going into that investigation, you heard devin nunes on sunday, he said hell to pay if documents aren't there said i am willing to go all the way meaning contempt what do you say about this obviously house gop members frustrated they legal hold deputy ag rod rosenstein in contempt if he does not hand over documents. >> they should be outraged at this, the system of checks and balances require the executive branch cooperate with legislative oversight there has never been more important time in history checks and balances to be operating whether regarding, president trump's immigration policies, checks and balances in play whether it be the investigation the mueller investigation even investigation that preceded that, checks and balances requires that congress have oversight over executive bathroom executive branch do its jon judiciary check both we are seeing that mapping in the immigration context we
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should see it happening as well in the investigator process i ohio the rubber-stamp will get material they need they do have condemn power power rarely used against executive branch a power they do have. >> what would that mean? who that mean could push rosenstein to resign? >> no, they could hold him in contempt he would challenge that in court. i don't think they can make him resign, look he should be recused, there is no doubt about that to the extent investigation involves all the firing of comey that he was involved in the firing of comey he should not be in the investigation at all. but i don't think resignation is on the table, i do think contempt is a possibility sort of damocles congress can hold over executive branch rarely dropped but often invoked, i think the end result will be the pressure will produce documentation to some withheld
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on grounds of privilege, but the vast majority should be turned over to congress congress -- in confidence as well don't have to release them all to the public. maria: hard to believe that the documents are not being turned over because of some national security issue, or some issue that, you know, that is -- is particular interest to doj should not be out there when you have text from peter strzok who with basically says you know he says to his girlfriend we will stop it. and this text happened on august 8 of 2016. four days later the other text says we need insurance policy we have had insurance policy text for months yet just getting this one now it was it was sent on august 8, 2016, so why were they not handing over this text, until the ig report had to hand it over? that is not national skurpt, that is just something that would embarrass peter he peter
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strzok lead people to believe he was biased enough to dictate his behavior as the guy running the investigation. >> look, in my experience i have long experience in this vast majority claims national security are really designed to cover up embarrassment, or designed for political advantage national security is used as cover to prevent disclosure of information that might be embarrassing there is no question that that tweet or that message saying we will stop, stop, that is sounds like attempt to interfere with election, by members of the federal bureau of investigation a person particularly high role in the fbi even if he didn't mean it saying he would stop election i tried to stop election of president trump by voting for hillary clinton by contributing to hillary clinton that is a legitimate way trying to prevent election but when fbi agent says he is going to stop it that sounds
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like includincollusion highest attempt to improperly interfere with legitimate collection i am not satisfied with computations not turningover that very important communication stopping election of president trump. >> peter strzok took over, running the investigation, into trump collusion in -- on july 31, 2016. 8 days later sends that text he is the guy running the investigation, and he sends a text we will stop it. now attorney generaling jeff sessions says strzok lost security clearance will that be only penalty he faces? he was obviously consorted out of the building what is your take on accountability here. >> i don't understand why strzok still has his job, when he has said we are going to stop the investigation, that is such an improper communication that we are going to get an insurance policy and didn't recuse himself it was his obligation
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to recuse himself if he had those views, and he expressed them to somebody else also has to know as fbi agent no sump thing as private communications anything you send potentially can be made public. so he was potentially making public a statement by a leading fbi investigator that he was going to try to top the legitimate election from o going forward that is clearly a firable o finance i don't know why they are not firing him or fire him he will disclose information that will be even more embarrassing? i just don't understand yes still has a job in the fbi, it certainly doesn't make -- as american, to know that he is an fbi agent. >> incredible, senate judiciary chairman grassley wants to subpoena jim comey and former attorney general loretta lynch after bombshellig report released comey inclined to testify before gras lee's committee do you think a subpoena will come down do you think we are going to see guys testify next week,
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standra smith did interview with goodlatte and gowdy last week they said expecting peter strzok to testify next week. >> he volunteered to testify how comey can resist subpoena impossible to know he is all over world selling his book disclosing all kinds of information he probably should not be disclosing without a subpoena how can he refuse to submit to the checks and balances the legitimate coincident inquikwi -- years cot inquiries. >> jim comey may be investigated by this for the same things he was unwilling to do for hillary clinton that is a mishandling of classified information. >> alan? >> yes? >> do you agree with that he is being investigated -- >> is he being investigated for the same issues that he was unwilling to investigate
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hillary clinton for? misuse of classified information? >> well, there should be investigations that is what congress there is for. oversight. and there should be cooperation with investigations that is how our system checks and balances operates. >> thank you alan dershowitz.
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>> we'll back, there are more ways to make more on youtube different from traditional advertising nicole petallides looking at rally this morning. >> yeah, good morning maria, so we start off with youtube when you look at youtube, now you can look at different way that is making money, ultimately the youtube staffers want money without just having to depend on advertisers if you have 100,000 follow areas they equals money a fan club idea behind it to get away from depending on advertisers, 1.9 billion monthly viewers one woman amy says she does signs
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experiments got 300 dollars a month can continue science experiments that is the idea behind it get to 100,000 means money then chipotle, has been doing very well, new ceo came over from taco bell the latest on rise new menu bring it on mexican chocolate milk shaky avocado tostados queso dias. >> hoping to scoop up taco bell people i will tell you big day today we have the russell rebalance expect heavy volume back to you. >> nicole petallides. >> vaccine ae reporting ministers agreed to increase output one million barrels a day according to dow jones industrial average may be closer to 600,000 a day a debate how much they increase output futures group senior energy analyst has reaction on the floor of the 'cme good
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morning, phil. >> good morning, maria. a historic day for opec couldn't coalition together iran fighting any increase in oil production guess what they got it done keep coalition together market saying hey maybe a million barrels of oil isn't enough especially because 100 million barrels is only 600,000, the reason that is is because even though entire cartel agreed to raise production one million barrels they are going to stick and split that upon agreed upon quotas producers can can a lot can't only 600,000 barrels. >> 600,000 barrels thank you so much phil flynn coming up state of emergency in south texas days of torrential rain major flooding the latest on worst weather there since hurricane harvey. back in a minute.
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. maria: well back, governor texas declaring state of emergency parts of the state following major flooding susan li. >> six counties under state of emergency since hit by worst flooding since harvey first lady melania trump was yesterday, they received up to 10 inches rain yesterday more than 200 rescues in the town, moviepass a page out of upper playbook, the company will charge additional fee for high demand tickets for example a blockbuster opening weekend
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departure from the popular business model charges a flat rate 9.95 a month the decision comes just one day after amc has stub list service costs 9.95 a month cover to up 3 movies a week imax 3-d removes included coffee can do more than keep you awake four cups a day can lead to healthy heart scientists have known for years about the healthy benefits of coffee and now know why caffeine gives cells more energy helps blood flow throughout heart i drink about 6 coffees a day or so. >> good news, okay. >> coming up thank you susan coming up final thoughts from all-star panel stay with us we'll be right back.
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>> back with finalling thoughts from lee carter. >> get something done on executive order alone is not enough many don't wait until november. american people want bipartisan
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on here talking about data center so only reason why you can download a video on netflix in ten seconds anywhere in the world is because of those mark zuckerberg is building his own data centers across the country so i'll looking at srvr. >> i said this again, the president of the united states has great instincts about what the american people want and need and he leads that way. i don't think people within his administration at least some are doing any favors in terms of the execution on these ideas and you've seen it since the travel ban was rolled out. it was so poorly put together -- it certainly the sites that we got from the airports were horrible. but again it faced legal challenges and time and again, this is happened to him. and it happened with with these immigrant families trying to cross illegally and waiting it see heads roll -- >> we're talking about immigration here and these pictures we showed this week but you want something done, the
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democrats aren't -- i'm not just talking republicans but democrats too get it done. >> that will do it for us have a great weekend everybody. have a great week and on sunday morning futures. "varney & company" begins right now. take it away. >> good morning maria, good morning everyone. 8 down days in a row for the dow could it be that friday is the harm? looks promising. here's how things stack up for the the opening bell today. hardly dramatic turn arngd but after a long drift lower we might be looking at welcomed pickup up tick i should say dow industrials up 100 points and s&p 14 and nasdaq about 30 points higher. that's the market. the political news, however, is grim and immigration bill went down to defeat in the house yesterday. members said they need more too imto read and refox on a second bill we're told it will be voted on next week and we're also told no matter what happens in the house democrats will stop any immigration reform in the senate.


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