tv Mornings With Maria Bartiromo FOX Business November 21, 2018 6:00am-9:00am EST
at the close yesterday down one and three quarters percent with yesterday's declines the dow and s&p 50 are now in the red for 2018. the nasdaq is essentially flat, president trump weighed on the selloff before leaving the white house yesterday. >> i think the tech stocks have some problems but that'll come back, but no, i think, we will do very well. i would like to see the fed with lower interest rate. maria: global market this is morning are also higher, dax index in germany 65 points higher in germany. in asia overnight, let's check action there, nikkei average was down in japan, chinese markets and hang seng and hong kong, beijing up quarter a percent or more. in korea down a fraction. targeting trade with china, trump administration calling out beijing in stealing, president
trump meeting with jinping in g20. the comments sending shock waves throughout oil markets this morning, crude oil down 7% yesterday, we are seeing a bit of a rebounded this morning, we will check that out as well. coming up there's oil this morning at 54 at any time 27 with gain of 1 and a half percent. staying put. mark zuckerberg speaking out, he says he will not step down despite controversy around him and the company, the fallout coming up. minus one day for turkey day. we have everything you need to know before heading out the door including the forecast for the macy's day parade. all the stories and joining know break it all down dagen mcdowell, pwc partner mitch roschelle and max funds.com jonas max ferris, good to see
you. >> thanks for having me. dagen: i asked mitch, is the selloff going to continue and i think -- >> i think that was a yes. dagen: answer might surprise you. >> uninspiring. maria: what do you mean? >> it could continue and i think the thing that everybody will look at is how retail sales go this week, i'm not talking about reported sales from earnings, i'm talking about the shopping going on and looks like the consumer is backing off, that could cause a massive market selloff. maria: a lot riding on black friday, dagen, a lot riding on fourth quarter in terms of consumer activity. dagen: what rattled investors yesterday is the selloff was so broad-based. bitcoin keeps tumbling but oil and gas stocks, retailers, we were reporting target's stocks, target stocks fell 11% and a lot
of it was the cost in its supply chain are going up and also upward laborer price pressure, so that was another thing and that kind of ropes in the idea of what's going on with trade in terms of pushing prices up for the companies. maria: really important indicater to look at. when you look at oil, jonas, does it tell us the global economy has slowed down? >> it hasn't slowed down. we are guilty of trying the news and running out of air and people use news to gamble. it doesn't mean there are huge signs of global slowdown. they are betting it's in 6 to 12 months. to me the trigger was when rates got raised a quarter percent. we are going to go back to normal 5% rate. that i think scared a lot of investors more than all of the other stuff kicking in the
background, tariffs. that triggered it, that led to volatility, every time rates -- mortgages got to like 5% on 30-year and that was causing trouble in housing market. it was real and cause real problems for people. the market go back up and rates go back, now we broke through that, rates are back down near 3 and the market is still going down. i think at this point -- wow, this could be not just 10%, the next 20, 30, 40 percenter. our 10-year bull market is over and ended in tech stocks two months ago. maria: it gives you alternative to stock, why not shift money out of stocks and bo higher yield and fixed income? >> the 2-year and 10-year, less than half percent. there isn't a lot there and that gives people the fear that the yield curve could invert which is sign of recession, i don't know why i'm so gloom and doom this morning. dagen: it's not gloom and doom. that's the bigger question that
we can get into, is this market route deep enough and steep enough to actually cause a recession. i know stephanie is on later in the morning, something that she's talked about that a massive washout in assets across the board could actually in terms of hammering confidence among corporations and individuals and reducing people's wealth, essentially that it could cause a recession. >> happened in the dot com bubble. maria: what we have been seeing in a number of days recently the market opens up and we see a pretty good situation in the early hours of trading and then by the close we are down. this morning, stocks are rebounding, take a look at futures up 75 points right now after the selloff yesterday, reversal after turbulent day for the markets yesterday where the dow lost 2 and a quarter percent. with the 500-point decline yesterday it wiped out all of the gains in 2018. now the market is negative this year.
technology stocks taking beating, alphabet slipping in bare market territory. the others are already there. iphone is -- apple is cutting iphone production. the president weighed in specifically on the technology route, watch this. >> i think we are doing great. i mean, as a country we are doing great. unemployment is at record low, you look at all of the different statistics, i think your tech stocks have some problems but that'll come back. maria: you know, the press asks the president about the market, i don't know why he would discuss specifically tech stocks in terms of what's behind the market. >> i think he's right when talking about interest rates going up too fast. it was the interest rates, the federal reserve is living in fantasy land as many americans that 5% is the normal interest rate level. that is not the normal interest rate level anymore, it is maybe, maybe 2 and a half percent and never going to be 5 in japan again, no one is asking to go
back to 5 there. the federal reserve think ifs we don't go to 5% some day we will have inflation in the 70's. they would argue about that for hours if you gave them -- trump know that is real estate is priced for lower rates right now. you go to 5% fast it'll cause a problem. there's a problem with tech stocks. that's real. overpaying for growth, it is a limitless growth rate in advertising and what it takes to get to that growth and advertising is the problem with facebook. what were they -- dagen: sleazy things to get to that advertising growth rate. >> the gross not going to be there because they've dominated the whole thing. it's a separate problem with interest rates. the stocks were priced for growth and not ending and that's why apple is down 25% almost even though numbers are good right now in the economy but the future is looking dicey on
profit margins in tech and interest rates with the real economy. maria: that brings me back to consumer, if apple is down as much as it is is that indicating about consumer, is that the problem? >> so it's global consumers and let's remember what drove this market up to begin with at the beginning was synchronized global growth and now we are seeing synchronized global slowdown, not recession but the fear that the world economy is slowing down and many american companies are are holding upon foreign consumers and freaking out some of the -- dagen: that's why greg writes column in wall street journal, trouble market sound alarms, he's talking about broad selloff and array of asset classes as we have seen jump bonds, for example, jump bonds were trending down and selling off as treasuring yields were going
higher and treasuries were selling off but the selloff and jump has continued and even as -- as yields and longer-term interest rates stabilize, that's a fine that there could be trouble ahead. but he also notes it's the slow and global economy, this is greg, but it's also the reduction not just in higher interest rates but the reduction in the balance sheet at the federal reserve, pulling back the unprecedented monetary stimulus and this is happening while the european central bank is halting buyingback program this year and something stephanie said would really whack maw views moving into the new year, maybe it's happening a little bit earlier. maria: we will get her to talk more about that, big story and unknown about china, the trade story, top editorial in the journal this morning, the trade canary, the chances of significant u.s. growth slowdown can no longer be ruled out.
we hope someone at the white house is listening to this trade canary, chances of a deal seem slim. national economic council director larry kudlow highlighted requirements for deal with china. watch. >> any deal between the two countries has got to be anqueste ip theft, it's got to include changes in ownership, stop the force transfer of technology, it's got to go to zero tariffs and zero nontariff areas and has to have enforceability, and more than what we have seen so far. maria: does the administration stick to its gun and make sure china changes behavior and risk uncertainty and disruption in the market? >> i think so because i don't think trump thinks it's
disrupting the market and i think he's right. look, the market could be disrupted by any kind of story. there was crashes over the soviet debt default in the 90's, there was a taxi cab default, anything can trigger investors to panic, as far as economic behavior, it's almost up there with 70's inflation, we don't really know what having relatively low tariff rate is going to do. that was during the depression, relatively low rate -- could be there permanently. all of europe has value added taxes that are higher than tariffs. maria: doesn't the market want a deal? if we were to get a deal with china, doesn't that trigger a big rally? >> i mean, the deal couldn't be too favored to one stock because it would hurt foreign stocks which have been lousy compared to ours. i think the panic is there and i think there's other issues going on that are beyond tariffs, again, could trigger fear but
that's -- it's almost irrational, i don't think that there's that much weight from the tariffs at this point. >> their reforms in china to sort of get some of their crazy lending under control and that is, you know, contributing amongst other things to economy slowing down. they are getting their own house in order there and that could -- that -- there's good news in that for the global economy just in the interim it's not great news. dagen: i just want to add really quickly, one thing -- in terms of just policy, the tariffs and some of the trade policy out of the white house it's made washington and the regulatory environment more swampier, swampier, not less swampy which is what the president ran on and it doesn't make long-term sense to complicate doing business here in the united states which is what it's doing. maria: i wonder when the new congress start with the democrats in the majority and the house, if that mixes into the china story?
what will they want the president to do? will they put pressure on him to do a deal? >> well, they have to ratify the nafta 2.0. maria: that's right. >> we will see how they feel about trade in general. dagen: nancy pelosi if she wanted she could throw a wrench into that and introduce a rule assuming she's house spauk the other throw the wrench. maria: move the markets further. they want a deal and they are expecting a deal. dagen: do they care democrats about the american people, about the health of the economy or do they care about themselves and just going after trump, antitrump, antitrump. >> when was free trade a democrat, though, this was half their policy at one point. unions wanted to not outsource jobs, i don't think they are going to we have -- we have to make it better for china, i don't see that coming either. maria: all right, we will take a short break, when we come back, a lot to talk about this morning, president trump standing with saudi arabia, his comments sparking controversy
and taking a toll on the oil market, we will check that out when we come back, earnings still slowing, you see deere on the screen. busiest travel day yet, very latest on traffic, the weather and all of that coming up straight ahead right here. i just got my ancestrydna results: 74% italian. and i found out that i'm from the big toe of that sexy italian boot!
♪ ♪ maria: busy travel weekend, more than 54 million americans hitting the roads and skies ahead of thanks giving this week, highest level since 2005, take a look at last night in los angeles in huge traffic jams there as you can see it was bumper to bumper, fox news senior meteorologist janice dean in the weather center. janice: looked like christmas lights. [laughter] maria: it was happy, though. janice: no kidding.
i do have news in new york city, we could tie for coldest thanksgiving on record. take a look at temperatures, tie from 1901, forecast high is 26-degrees, with the windchill in the morning it's going to feel like single digits and teens for parts of northeast, the coldest thanksgivings on record could be happening across portions of the great lakes and northeast, that's the news headline, also looking at the potential for very heavy rain across portions of california and the west, this is a good news-bad news situation, they need to rain there for the wild fires but we could see the flash flooding threat as well as mud slides over the next couple of days into the thanksgiving day weekend, we will watch that and certainly travel delays across the west. the central u.s. looks absolutely fine, not a big deal. maria, back to you, my friend. maria: happy thanksgiving, janice, we will see you throughout the show when you have new information on travel, thank you so much janice dean,
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meanwhile president trump is standing firm in his support of saudi arabia despite the murder of washington post columnist jamal khashoggi. cheryl casone with more on that, good morning to you. cheryl: good morning, maria, a lot developing on the story yesterday and throughout the night. president trump is vowing to remain a partner of saudi arabia despite mounting evidence the country's crown prince was behind murder of jamal khashoggi. the white house issued statement to end debate over america's response to the killing saying it's impossible whether to know that crowns prince ordered it, speaking to reporters yesterday before he left the white house, mr. trump made financial argument for retaining the u.s.-saudi relationship. >> right now we have oil prices in great shape, i'm not going to destroy the world economy and i'm not going to destroy the economy for our country by being foolish with saudi arabia. cheryl: but the president is facing pressure from democrats and republican who is are calling for a tougher response,
senator lindsey graham tweeted, while saudi arabia is strategic ally the behavior of the crown prince in multiple ways has shown disrespect for the relationship and made him in my view beyond toxic, graham later said that there would be bipartisan support for sanctions against saudi arabia, amid all of the controversy folks, wall street journal is reporting that saudi security officers have tortured, jailed women's rights activists art paf of government campaign, sources telling the journal at least 4 of 18 women's rights activists were tortured, some of them using electric shock and lashing, one woman apparently tried to kill herself. saudi officials says that the kingdom does not use torture. also some economists and military analysts are saying that the numbers that the president used in statement in front of the white house
yesterday in that presser were incredibly inflated. the amount of saudi investment and what it means to the u.s. economy. maria: the news is not stopping, on the one hand you have the article and news of jamal khashoggi and the response and right above it the women being tortured. should there be a tougher response from the u.s. against what's happening in saudi arabia right now? dagen: we need today make it clear that the united states will not standby these human rights abuses and this statement quite frankly lacked a lot of nuance on that and i will quote, rand paul, we are still sitting in the united states don't forget 15 of 19 hijackers of september 11, 2001 were from saudi arabia. rand paul said i'm pretty sure it's saudi arabia first. i'm sure bolton did have a say
in the statement and we have the cia coming out and saying that they had concluded at least as going back in october that jamal khashoggi's killing was ordered by prince mohamed. maria: rand paul in congress want tougher sanctions, want something else done in terms military aid that we give to the saudis, maybe that cut back. cheryl: there's also the issue of iran, do we need to saudis? there's a huge meeting of opec and nonopec meetings in december, some are questioning whether the president's strategy is to come out and defer to the saudis on the issue because he wants them for production cuts in december, make sure oil prices don't jump in extraordinary levels because saudis react to what we are saying. dagen: this is more than business, what happened in the death of journalist, it's got to
be more than financial relationship with another country. maria: they are aligned now. and the saudi government and he was very much aligned with mbs, watch this. >> i believe that saudi arabia will get to the bottom of it but please you have to give us some time until the investigation is done and made public by the government of saudi arabia. maria: jonas, what the prince said that crown prince will be vindicated and exonerated. >> in saudi arabia. maria: in saudi arabia. >> rand paul libs in -- lives in a libertarian fantasy land. now, the reality is, yeah, saudi arabia -- they've been slaughtering people in crazy ways like we haven't done in hundreds of years, they behead people and put bodies -- barbaric, compared to rest of
the middle east it's a pretty safe place and that's one of the problems in the middle east. it started in the 70's with opec. we had to be friendly and now safe country and we learned the problems of taking out evil dictator in iraq leading to more unsafety -- maria: creative. >> trump knows that. he wasn't like let's take out saddam hussein. from an economy point of view and this is horrible what they did, but when you look -- there's more murders to méxico in journalists and turkey than saudi arabia times a hundred. maria: how about russia? >> movie-script way of killing, in russia you get the hanker can have chief and no one knows what happened. maria: we will be talking about this because there's new developments and we want to cover them.
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maria: welcome back, good wednesday morning, everybody, thank you so much for joining us, i'm maria bartiromo, it is wednesday november 21st, top stories right now 6:32 a.m. on the east coast. markets rebounding this morning, take a look. futures at high of the morning right here with gain of 125 points, s&p is up two-thirds of a percent, 16 points higher and nasdaq up almost percent, all this after major indices
extended into second day of losses with sharp declines. dow and s&p 50 are in negative territory for 2018. both indices down 2% yesterday at the close 550 points lower on the dow. take a look since the close last year, the markets are now negative down 1%, the nasdaq is just holding onto its fractional gain in 2018. in europe this morning, take a look there, money is moving into stocks in european indices as well, ftse is up 49 points, 3 quarters of a percent. cac quarante up 18, up 75 points two-thirds of 1%, overnight in asia here is the story mixed as you can see fractional moves across the board, best performer was hong kong, hang seng index up half percent. fallout over facebook, zuckerberg has no plans to step down as ceo from social media giant and company recent troubles, zuckerberg taking responsibility in an interview on cnn, watch.
>> do i run the company. i am responsible for everything that happens here. i don't think that at this point this was about a specific pr firm, it was about how we act. maria: zuckerberg taking heat recently on how the company dealt with cambridge scandal and russian tampering accusations as well, coming up. stay away from romaine letter, you could be exposed to e coli if you read romaine lettuce across the country. earnings in focus, mixed results, the stock is down, manufacturing missed on earnings but beat on revenue and there's the share down 3.73 a piece. tiger woods and phil nickalson. first top stories this half an hour, stocks looking to
rebounded. joining us to talk more about the market meltdown recently and what's happening this morning, distributors president sean, great to see you. >> great to see you. we are seeing in-flows, a lot of the money sitting in t bills, a lot of people feel comfortable sitting it out. if you watch the market, it started -- there's no trend lines. maria: what do you think is going on? >> big rotation from growth to value going on. i think the growth stocks have lead and value is underperformed. if you look at the disparity between growth and value, they call it alligator jaws in wall street, enmutually all of those eventually slam shut and it's gone so long now that there needs to be a severe change in direction or a long trend the other way towards value. >> is that rotation permanent,
though? the big fang names, they are out and everybody is going to focus on the value stocks? >> i think you'll see a trend towards that, they go in cycles, they tend to go back and forth. maria: it was trading at 17 times. >> here is the deal, right, you have been doing this a long time, you remember wal-mart and mcdonalds, great growth names, their growth was challenged just by their size and some of the tech names that's sort of what's going on, you can't continue to grow at the rate forever, what happened with those stocks they plateaued for a while until earnings were able to catch up. >> you're talking late 90's, home depot. today you won't magically avoid the alligator jaw or maybe crocodile, ratios are enough, whatever, to really avoid those growthy stocks -- by the way, they are creeping into everything in etf business. they started putting facebook
into the telecom funds, they changed telecom index. you had a tech fund when you had utility, would have done well if they didn't put facebook. how do you as investor avoid that, etf's are making it more difficult to do it? >> we look at something called free cash flow yield. free clash flow company generates by enterprise value and enterprise value is market cap plus debt, we missed buying, for example, ge which would look like a cheap stock which could continue to go lower because it doesn't screen -- >> but you were talking about going to cash in t bills, that type of thing, the last mini crash, we haven't had a big one, almost 20% after the debt crisis in europe, they've come back so fast, we just saw it after the elections, going into cash, miss
3-day rebounded that takes you market highs and then you to buy back in the stocks and does it again, is that a dangerous -- >> for investors who uses our strategy, a strategy like that, i think they are willing to accept that they might be a little late getting so long as they are not in declines. >> recent slide that came back with the election. >> we were long since february of 2016, so during that volatility the average was never -- [inaudible conversations] >> it did. >> more severe than the last one. >> it is. 200-day versus 150-day, you make less changes and when you make less changes you avoid some really dangerous whip saws and trailing getting back into the market. >> wait for comeback or added growth? >> do a little bit of both if you're in portfolio.
next year, you know, one of the topics is etf's for next year, international and global and i think protection strategies have to be a part of what is in people's portfolios. maria: why do you like those etf's are you seeing recovery -- >> not yet. maria: something changed in backdrop in terms of growth? >> you want to buy what's cheap relative -- maria: you're trading on valuation? >> i did. it's been disastrous for international and global and it's been disastrous for value, those trends can't continue forever. they can continue for a little while longer, but if i'm thinking next 3 to 5 years, i will put money to work in the market and i'm a little bit worried about the growth names, i would be moving portfolios toward large cap value. dagen: real quickly worth noting, analysts are marking down profit estimates with most international exposure much faster than those focused in the united states.
maria: what do you say to that? dagen: international exposure expected to rise but 16 and a half for u.s. company. that's a recent trend. maria: do you think that has to do with china? i'm wondering if it's the emerging markets. >> or the strong dollar. dagen: strong dollar which you talked about for a long time and also global growth in the world. >> the oecd came out this morning and revised downward forecast for the global economic growth, not by 3.7 to 3.5 -- maria: you're telling us to go into global stocks. >> because you want to buy ahead as opposed to behind. you don't want to chase returns, if you're a longer-term investor you want to position portfolio for the long term and what's going to happen. the macro trends on international and global can't continue forever and sooner than later they will turn around.
the catalyst, by the way, the stocks go down before the euphoria is over, right, they tend to be anticipating as markets are as well. they are looking ahead as well. >> i would be incline to go to pendulum strategy. [laughter] >> but i will say unlike 2000 where there was real divergence, small cap was down. you are not going to get such a reward, one of the problems in the market right now is diversification isn't stopping you from losing money. dagen: you know why that is because of the unprecedented monetary stimulus. >> no, it's because of all the unprecedented number of etf's giving money. i am not going to do like i did in the 90's, i have piece of small value, i have this -- maria: a lot of options.
>> doesn't work if everybody does it. if everybody could stop doing it, i would make money again. >> $19 trillion in mutual funds, 3 trillion in etf's but not really all the hot money. we are in the etf business, there is hot money but -- well, for us it's long term and for the bulk of let's say -- maria: i would say it is long term. you don't think it's long term? >> when you look at the holding period of open fund versus etf especially when it's trend or sector, it's one day to 10,000. maria: i agree on specialties and the specific etf's that are real special. you do payers growth -- >> but when you're talking about the specific etf's --
maria: that's different. >> it's hot money. [inaudible conversations] >> it's exposure versus investing. we deal with financial advisers who are building portfolios for the long haul and they are replacing open and mutual funds with etf's for proxies. they cost less. there are people using etf's for quick exposures and getting out but the bulk of the money is long term. maria: 2 and 20 or -- figure it out. [laughter] dagen: 2 and 20. maria: good to see you, happy thanksgiving. great to see you, you were optimistic there, bullish about the markets. >> as my friend sam stovall a bull with a small b and not
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scandals that have dogged the company. cheryl: zuckerberg in an interview last night on cnn defended facebook as the company tries to move pass russian meddling and discussed his future with facebook. >> i always talk about how we need to partner with governments around world, other companies and nonprofits and other sectors. so, yes, i don't think fundamentally that we are going to be able to address all of the issues by ourselves. >> so you're not stepping down as chairman? >> that's not the plan. do i run the company, i am responsible for everything that happens here. can he recall cheryl shareholders wanted him to step aside. there was an investigation by the new york times last week that facebook fail today take quick steps to address election meddling, facebook denied the times allegation, shares of facebook which have plunged 25% this year, 40% off the july high, guys, is higher in premarket but not even by 1%.
well, named chief operating officer as deputy ceo and intern chairman to temporarily take over carlos ghosn's job. he's been detained for another 10 days, though, in japan following his arrest on suspicion of falsifying income reports. the japanese automaker saying it's prepare to go remove him from his post, hasn't been officially been done, ghosn as chairman and ceo for now anyway. lowes is shutting down more stores, retailer plans to close all 13 stores right now in méxico. also shutting two lower performing businesses all of this to compete with rival home depot. taking a look a share of lowes, they are lower in premarket and with big head to head, las vegas showdown days ahead, tiger woods and phil mickelson putting big
money in news conference, 200,000-dollar bet between each other for the first hole. winner take all purse of 9 million, pay per view event atlas vegas' shadow creek friday, maria, let the betting begin. maria: yeah, really, thank you so much, cheryl, coming up a dire warning before holiday feast, cdc says romaine lettuce is not safe to eat due to sweeping e. coli outbreak, we will come back, stay away from the lettuce.
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multistate e coli outbreak, more to talk about that aka dr. mike. >> important story. maria: get rid of all romaine lettuce. >> thanks give asking upon us, we will gather together with families, we will be eating, get rid of all of the romaine letter, whether it's chopped, whole heads, doesn't matter, get rid of it, we don't know the exact source yet. ta t way we go about the process we find people who have e coli outbreaks in multiple states, we ask them questions and so far the common denominator has been romaine lettuce. the e coli is similar to e coli found in outbreak in 2017 of romaine lettuce that was mostly made in canada. why is this scary to us doctors
because e. coli can become infection which leads to kidney failure especially those younger, older and those who have compromised immune system. it's very scary to us doctors. maria: how does it get in the lettuce? >> it's not pleasant to say but lives in intestines of cattle. cattle live near romaine-lettuce producing plant but most people say i will wash the lettuce, it's not a problem, the cdc has done studies. the bacteria stays on. dagen: particularly with somebody has immune system, washing it does not get -- maria: potatoes, whatever is on them, they will never come on. >> that's why i stay away from vegetables. as policy i stay away from
vegetables. [laughter] >> this thanksgiving you i'm giving you a pass, there's no doughnut recall. maria: cdc says more than 3.6 million middle and high school students used e-cigarettes in the past 30 days. vaping devices design today help people quit smoking, that's not happening it doesn't appear? >> one of the stories that i have become incredibly passionate, maria, the product was intentionally -- initially marketed as something to help users quit smoking but the advertisements, the way they went about initially, did not match the idea. so what they ended up doing was getting young people excited with flashy ads, ads of young hip 20-year-olds smoking these or jeweling as they say the pods and they created the pods with fruity flavors so they were tempt to go children and now what we are seeing kids start using them and they turn to traditional smokers and with rates of smoking at all-time low
for teenagers this is a really scary story for us and i'm glad the fda is taking note and action. maria: all right, dr. mike, happy thanksgiving, any tips to not overeat. >> if you have it conversations do away from party tray so you're not unconsciously eating. maria: dr. mike, we will be right back.
maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. is it wednesday, november 21s november 21st. your top stories right now, 7:0e east coast. futures indicate a gain of 100 points at the open on the dow jones industrial average, up a half a percent. the s&p is up a half a percent and the nasdaq up 2/3 of 1% right now. this after yesterday's big market meltdown, concerns over trade and big technology weighing on investors yesterday with the dow industrials losing 552 points at the close. with yesterday's declines, the dow and s&p 500 are now in the red for the year.
take a look, they're down 1% in 2018. the nasdaq is essentially flat, about to go negative for the year. the global markets this morning look like this. take a look at european indices, they're downing on the u.s.'s recovery this morning. the cac in paris is up a quarter of a percent and the dax index in germany up 60 points, one calf halonehalf of 1%. hang sang index is up 1/2 of a percent. it has been a tech wreck. the biggest names in the sector in focus after companies like apple, facebook, come under fire. facebook's ceo mark zuckerberg is speaking out about his future at the helm. >> you're not stepping down as chairman? >> that's not the plan. >> that's not the plan. would anything change that? >> i mean, eventually over time. i'm not going to be doing this forever, but i certainly -- i'm not currently thinking about that.
maria: the fallout, plus, fox com planning mass of i've cost cuts we'll have details. top trends heading into the l holiday shopping season coming up, we're expecting it to be a big one on friday. beyond roasted and fried, we're taking a look at different kinds of thanksgiving birds including cheetos and glitter. all those stories coming up this wednesday morning. joining me to break it down, dagen mcdowell, mitch rochell and jonas maxarus is here this morning. good morning, everybody. good to see you. >> that's not the plan. when i hear that, i think of mike tyson, he everyon said eves a plan until you get hit in the face. if for nothing else, he owns more of the voting shares and someone else has got go in and -- maria: he owns the voting
stock. >> he's not going to go at this stage. there's a point he will want to protect his own assets, when is own wealth is declining. it hasn't fallen that far where that's going to happen but it's close and i don't want to like totally bash this company because they do more good than harm still, like most tech companies, especially abroad when they don't have media and they need to communicate. this company did not get enough press attention when the russia story broke because the media was focusing on trump. that was a little bit of the ways they were trying to squeeze money out of the world by people's privacy and that needed more press attention. maria: we're going to talk with lance ulinoff on the subject. i want to find out if you think they've made significant changes at facebook. i don't think so. we'll get into that. market meltdown yesterday, another 500 points, dagen, two days in a row and we ton to see these -- we continue to see worries about growth front and center into 2019 and 2020. dagen: it's global growth.
it's what the federal reserve is doing, not just raising short-term interest rates but also the winddown in this balance sheet that we are really beginning to see the payback in terms of this unprecedented monetary stimulus. i don't think -- i said to start the year, i don't think you know how this plays out until basically there's a washout across the board and you were starting to see that in terms of oil falling, bitcoin falling, junk bonds falling, stocks falling across the board, not just tech companies, but retailers got hit hard yesterday. maria: you have to see a flushing out in order for -- andrew cuomo once said to me, people will go back into the water when they know the shark is dead. i mean, they want to feel like, okay, i've seen the worst of it. dagen: he's clearly a fan of "jaws." >> there was a "jaws 2", you've got to remember. maria: it was pertaining to a different conversation but i think it still flies.
>> it's this fiscal and monetary -- fiscal stimulus, monetary stimulus around the world is being scaled back. it's not just what we're doing in terms of less accommodation. it's going on around the -- maria: maybe. we'll come back with the thanksgiving holiday in a week and-a-half, we'll have another fed meeting and we're going to get another interest rate hike, that's pretty much in the books. let me turn to our top story right now, that is standing firm, mark zuckerberg says he's not going anywhere. he gave an interview in which he commented on the status of chief operating officer sheryl sandberg and his future at the company. >> she is a really important part of this company and is leading a lot of the efforts to address the biggest issues that we have and she's been an important partner for me for 10 years and i'm really proud of the work that we've done together and i hope that we work together for decades more to come. >> so you're not stepping down
as chairman? >> that's not the plan. >> that's not the plan. would anything change that? >> i mean, eventually over time, i mean, i'm not going to be doing this forever. but i certainly -- i'm not currently thinking about that. maria: joining us right now is the upgrade technology columnist, lance ulinoff. your reaction to his comments? >> i'm not surprised. maria: i'm not surprised either. is there a push now, wanting him out? >> there might be. i think that, yes, but i think it would be highly disruptive to the business and in fact even more investors, i don't think it would be a good thing. this is not somebody who is sort of a figurehead and not deeply involved. he's an engineer who knows this product, who obviously built it from the ground up. we have one executive, elliott shraga, i think his name is, he's leaving, the head of policy. he announced he was leaving
before the definers thing broke. that may be it. sheryl sandberg, i think she believed for some time she was going to go but for other reasons. i thought she might pursue a political career or general writing. she doesn't have to do this. but mark zuckerberg relies on her heavily. i think that they have a very close -- when you look at some of the stories that have been written about their relationship in previous years, they're best friends. they're really close. and he relies on her heavily. initially it was to be the adult in the room. now he's an adult too. he gets it. he will never be comfortable on camera. i don't think he's lying about his intentions. but i do think that he is in a little bit of a sort of fight mentality right now that this is a war for the future of his company. dagen: i said this yesterday. this happened back in september. the two co-founders of instagram, the most important growth engine at facebook, left.
and essentially they didn't like the way mark zuckerberg and his cronies were starting to step on their products. they were given a lot of autonomy after it was purchased. now they're gone and it remains to be seen whether, again, what they -- because again, if they can foul things up at facebook, they will. >> look, those people left because they -- because it was about monetization. facebook, mark zuckerberg, they were saying they have to better monetize instagram, what's app, the oculus business. the people who were running it were maybe not so into the idea of it. integrating ads and other commerce opportunities dis the biggest issue for facebook is how they marketed for years that we're just about building a global community. let's all join hands. they're america's largest publisher. they're in the business of making money and harvesting people's most personal information and essentially
selling it. so that -- again, his horse patooyey that comes out of his mind when he gives interviews that doesn't line up with his business. >> you've described other tech businesses like google which is all about selling people's data, their search habits to drive the business which started with the -- don't be evil, that's what google -- maria: which they are evil in some ways. dagen: they knew it was stupid, that's why they dropped it. maria: maybe they shouldn't censor conservative voices. >> facebook is a business their business is -- it's founded on communication of ever-widening groups of people. he still wants to connect the world. you said before, i think it was you who said before, they still do more good than bad. i actually believe that. here's the thought i come back
to every single day. if facebook goes away, say really just goes bang down -- that's not going to happen. something would rise up in its place to say we have not going to be a society without that kind of social platform to rely on. maria: did they really do that many changes? the change, you can appeal being taken off the platform, that's how they're reacting to people upset that they were taken off the platform, just a appeal it. >> those conversations are fascinating to me. it makes it sound as if they can spot these things easily. 2.5 billion people use facebook. it is worse than a needle in a hay stack. >> they were like we didn't know. they have all the engineers. they know what -- this is the delusion that everyone had, that they're selling targeted advertising. it's gotten creepier. they know what they're doing. this is why i think the nerd robber baron era is coming to an
end. there was a point in america where companies could do whatever they want. government realized wait a second. they got the hoodies and the cool sneakers and the black turtlenecks, but this is basically rockefeller. it's just cut-throat. >> these are the most powerful business leaders in the world. maria: that's right which is regulation is coming. >> they're wearing monacles and striped suits. >> regulation is coming. we're looking at the tech stocks taking a hit. no one really knows entirely what this is going to mean. maria: how does the business model change with new regulatory environment and new fees perhaps. we've got to talk about apple. this has really been a source for the market. bloomberg is reporting that fox con is planning deep cost cuts. lance, tell us about the supply
issues around apple and dan niles was here a couple weeks ago who said inventory is up 89%. what are your thoughts? >> inventory should be up 89% as you're heading into the holiday buying season. maria: it was up 89% in the second quarter. >> okay, i'll start all this by saying don't bet against apple. i've heard these stories before. i know that fox co con is maybe changing the makeup of their workforce. they bring in more robots, automate some portions of what they're doing, even in the wisconsin plant as they're planning to hire, they're not hiring as many people as they thought because they'll be using a lot of automation to do it. i've also heard stories about the 10-r. it's a dud, it's not working, people are not excited about it. i don't believe these stories. i think this is a really hard story to read right now. we're heading into the holiday buying season. this is a very important time for apple. they'll sell a lot of the
products. the 10-r is a 749 version of the 10. we know the 10 sold like crazy, by the way. here's the big problem. here's where i don't know what to do we'll have the first quarter, first reporting quarter for apple where they don't tell us the unit sales for iphones. they're not going to break it out. i don't even know how to deal with that. maria: is that supposed to be good? >> i don't know -- well, i dhiengdon'tthink it's good. it's turned everybody on their heads. they're think whack aring what k whack are they trying to signal here. i think we know that apple's business is changing. services is growing like crazy. it's a hugely important part of their business. so are some of the other products like the air pods have you walked around the city lately? every person i know is wearing them. it's a huge, huge -- dagen: until they figure out they're not at good as the bose headphones. maria: you say don't bet
against a apple. if you listen to dan niles on this program in october he said avoid it for over the short term because of the inventory problems. how much is it noun the last --w much is it down in the last three weeks? lance, good to see you. we'll be right back. i wanna keep doing what i love, that's the retirement plan. with my annuity, i know there is a guarantee. it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot org. ♪
maria: welcome back. heavy rain expected to help firefighters in northern california today. cheryl casone on it in details right now. cheryl: fire officials are hoping today's rain will help end the deadly camp fire in northern california. but there is also a big risk of flooding and of course a mud slide. 81 people have been confirmed dead so far. about 870 others still unaccounted for. interior secretary ryan zinke slamming radical environmentalists after surveying the damage there. >> the radical environmental groups that would rather burn down the entire forest than cut
a single tree or thin the forest. cheryl: and then check this out, this is a new nasa satellite image, showing the extent of the wildfire damage from space. brown areas show where the fire has scorched the earth. well, another health care deal could be in the works. the wall street journal reports that walgreens and humana are in talks to take equity stakes in each other. sources say they have a partnership and the venture may be expanded. maybe it's the seniors they're targeting. shares of wall green's parent and humana sharply higher for the year, looking at both of those charts. the journal's reporting that apple is negotiating with the department of veterans affairs to provide portable electronic health records to military veterans to simplify their hospital visits. they would create special software tools to allow millions of veterans to transfer health records to iphones. shares of apple are higher ahead
of the opening bell. the stock lost a lot of ground yesterday. finally, there is this, in time for you to see your family tomorrow, let's tell you about this one. more adults and millennials are moving home to save money this comes with a cost to their mental health. new research from germany reveals young adults living with their parents are more likely to become depressed and lose confidence than their peers living out on their owns. and it's not just the returning kids that are suffering. many parents fall into depression too. a third of young adults in the united states live with their parents. yeah. maria: okay i. i don't like. cheryl: you don't? my parents were like you're 18, okay, bye. maria: my mom begged me to stay. political battle, why alexandria ocasio-cortez is taking on sarah palin. and gearing up for black friday, we've got the hottest shopping
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maria: welcome back. markets are firmer this morning. futures indicate a rebound this morning to the stock market, following a major selloff yesterday. dow industrials are up a half a percent right now. the s&p is up 2/3 of a percent, the nasdaq is up 55 points right now on the heels of a sharp decline yesterday. one stock we're watching is the gap. the retailer looking at closing hundreds of underperforming stores. this comes after the company reported a 7% decline in same store sales for the quarter. the stock, take a look at the
start chart, down 25% this year on gap stores. the final countdown to thanksgiving and black friday upon us. we are taking a look at the top trends edeheaded into the holidg season. joining me now is marisa tarlington. ho holing how would you characte the consumer? >> consumer spending is optimistic. consumers say they want to spend around $800 over the weekend which is up almost 10%. we're seeing a couple really interesting trends, back towards the store as an example, 90% of millennials that we surveyed say they plan to go into a store. this is a group of people that we say are constantly on their phone and shopping. they say they want to go into a store and have an experience. retailers are -- maria: oh, the experience, right. >> retailers are preparing for that with celebrities and live music and experiences that really make the store pop out and stand out. >> one of the things that's
interesting is a lot of the stores have so much extra inventory because of the trade dispute that's been going on, they preordered a lot of stuff that would be imported. is that what's driving a lot of the early sales, sort of the blockbuster or the door buster deals have been front end loaded, going to on all month. >> absolutely. what retail me not data says is we've seen not only offers but messaging around black friday start as early as november 10. i think partly because of inventory, retailers got ready starting november 1st. you started to see it kick off from the sale perspective much earlier. now black friday is not about the single day of black friday and cyber monday. it's about a three-week period of time where retailers are constantly promoting and marketing to drive consumers both online and in store. >> because the current stress in retail stocks is about the profit margins, but your site is basically coupons and deals for companies. is there any lee relationship with your data, when people are hungry, i'm not going to buy
something without a coupon or a deal, can you tell by your traffic on your site when that's the consumer mentality and does that equate to lower profit margins and lower stock prices? is there any data there? >> that's a great question. what we do, we provide deals and discounts to consumers. in this period of time in particular, 87% of consumers say they will not shop unless they can find a deal. so retailers and brands partner with us to drive not only online traffic but in-store traffic. what we find with coupons and deals is, yes, to some extent there is a margin opportunity there but there's also higher spending. when you get 25% off, you tend to spend more. >> the volume's not the problem. it's the profit margins. last year were they less hungry for a deal to shop? >> we're seeing steady state. we've seen 85 to 90% of consumers say they're looking for a deal before they buy, this period of time. >> do hedge funds buy this data from you guys? >> we don't sell our data. maria: tell us what's in and
what's out. >> a couple of things. in-store is the king. 90% of millennials going into a store. cause marketing is also a really interesting trend. retailers standing up and putting their values out in front of the consumer, 50% of consumers are saying they are more interested in buying from a retailer who is standing behind and transparent with their values. a couple other interesting trends with regard to what's out. major e-commerce giants won't take it all. only three in 10 consumers say they plan to buy everything at an e-commerce giant like amazon. the other thing i mentioned already is it's not just about black friday and cyber monday, it's about the whole period of the three weeks. look for deals ongoing throughout the weekend. and last but not least, you won't pay for shipping. both target and amazon have already come out with free shipping and/or expedited shipping. that is table stakes which is a huge win for consumers when they're buying so much stuff online. dagen: when you get free
shipping from a small retailer that isn't used to doing it, that gift will show up in february. free shipping is not free shipping across the board. >> shipping costs are a huge concern with retailers. >> the coupon deals, are they giving to the consumer, more than last year, do they need to give more than last year? >> that's a great question. what we're seeing is not higher discount levels but more creative promotions. so you'll get a gift card instead of a higher promotion. so target you're getting gift cards with your purchase instead of a higher discount level. >> to get you to come back. maria: it's down on the margi margins. >> interestingly, what we're hearing from retailers is not heavier promotional spend but heavier investment in brands, in cause marketing, social media, mobile content, to capture the consumers. not the higher promotion levels. dagen: with the unemployment rate at a 50 year low, i might
have bought a pair of shoes if your salesman hadn't been so rude yesterday. instead, i adopted a flock of turkeys yesterday at farm sanctuary. maria: you called it out. thank you so much. >> thank you. maria: coming up, the fight for house leadership, former president obama throws his support behind nancy pelosi. it may not be enough to get her back the gavel. plus, the controversial mommy issues comments, wait until you hear this. deck the halls with fortnite and bitcoin, why teens are shifting away from holiday gift cards. they're asking for more digital products. back in a minute.
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maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, november 21s november 21st. your top stories right now. you futures indicating a rally at the start of trading this morning, dow industrials up 145 points right now. s&p is up 18, that's three-quarters of a percent.
the nasdaq with a gain of 63 points, up by almost 1% right now. this after the major indices extended into a second day of heavy losses yesterday. at the close the dow industrials was down 552 points. the s&p down almost 2%. and now with these losses the dow and s&p a 500 are in negative territory for the year. both indices down about 1%. nasdaq holding on to a gain, fractional. despite all of this, larry kudlow says there is no recession on the horizon. >> keep the faith. it's a very strong economy. i mean, i'm reading some of the weirdest stuff how a recession is around the corner. nonsense. my personal view, our administration's view, recession is so far in the distance, i can't see it. maria: european indices are higher. the feedback 100 is up -- the fq100 is up.
asian markets mixed overnight. best performer hong kong, hang seng index up 1/2 of 1%. ikea is ready to cut thousands of jobs in a restructuring. we will break it down. plus this, recall alert, the hidden danger behind some honda 34eu7minivans. we have the new friends teen gift giving this holiday season. and forget your own plain turkey, from glitter birds to cheetos turkey, it's a millennial thanksgiving. we'll tell you about it coming up. our top story this half hour, twitter battle royal. alexandria ocasio-cortez going back and forth with vice presidental candidate sarah palin on twitter. pay lynpalin calls out ocasio-cz incorrectly naming the three branches of government. ocasio-cortez fires back.
isn't it a little early to bring out the big guns writes ocasio-cortez especially when they look like the forward regarding grandpa e-mails from the '08 election they lost. joining us now, ron williams. good morning to you. >> good morning from grandpa e., here i am. that would be one of my tweets, maria. maria: we know what alexandria ocasio-cortez first said. she said three branches of government. she said three branches of congress, rather than government. sarah palin called her out on it. what do you make of the fight? >> this is got you politics. it's a lot of fun, evidence espy when you think about where we are in america with tribal politics. alexandria ocasio-cortez, they love beating up on her. she makes mistakes. she's 29 years old. she is a novice in terms of
american politics. and she could use civic lessons. she got in trouble with the middle east, if you recall. this case, it's almost like fun. it's almost like candy as we approach thanksgiving, just having a little fun because what you get is sarah palin who of course had some missteps of her own and then getting into it with alexandria ocasio-cortez and you have two kinds of very large personalities in terms of american politics. i'm not sure that they are consequential at this moment in terms of any outcome or any change but you have them now taking shots at each other and then what's a little -- i didn't realize this, ocasio-cortez also took a shot at former vice president candidate lieberman, saying he was not a loyal democrat because he's going after her. the only substance i detected when ocasio-cortez said oh, republicans don't want to deal with health care, don't want to admit they're not supporters of health care dis can i say one --
dagen: can i say one thing as a woman, which maybe i can get away with this. ocasio-cortez sort of like sarah palin, the spotlight shines very bright on them very quickly because they're attractive. they're attractive women and they're going to get more attention in this social media age, particularly today because of the way they look. and so you're overwhelmed with the attention, whether on instagram, whether it's on twitter, whether it's all the media outlets, all the television networks, right or wrong, they're going to show pictures of you. and you kind of have to own that. you kind of have to own that, you know what, i'm more popular nationwide or unpopular because of my appearance and i'll say that and i'm not saying that they use that to their advantage. but they're putting you on tv a lot more. >> i think attractiveness matters. in this case, we are in a celebrity political culture and
they shine. also, remember dagen, sarah palin is an icon of the right and ocasio-cortez is a shining rising star on the left. dagen: i wouldn't say an icon of -- >> i think she was. dagen: for some. i know plenty of conservatives, when she would start talking during the '08 campaign, they would cringe because they would worry about her making a mistake. maria: there's a serious story going on here. the fight for the agenda in the democratic party, it's similar to the fight on the right and that it's not resonating with suburban women on the right. let's take the democrats. ocasio-cortez is talking about medicare for all, talking about abolish i.c.e. that's not something that chuck schumer wants, not something that tim ryan wants. so you do have this fight within the democratic party for the microphone and the fight for democratic house leadership as well underlines that. house kne minority leader nancy
pelosi getting praise from former president obama yesterday. >> i think nancy pelosi when history is written will go down as one of the most effective legislative leaders this country's ever seen. her skill, at th tenacity, toug, vision, is remarkable. maria: then you have karl rove writing an op ed, he writes this, as you can see. pelosi is still likely to be speaker but she has much work to do to get a majority. it won't be pretty if she does win. there will be wounds and many house democrats could find themselves defending an unpopular vote back home. so take us through what's going on in the democratic party in terms of this fight for the agenda and fight for leadership. >> well, i mean, clearly what you have -- this is represented by ocasio-cortez, maria -- is
people who are on the far kind of edgy left and that's who she represents. you talked about things like hey, you know what, we don't want i.c.e. around here, seeing i.c.e. as storm troopers rather than enforcers. i think you also have people who are saying on the far left, this is -- they're sort of i would say in the mold of bernie sanders, people who are saying when it comes to high cost of tuition in this country, when it comes to income inequality, given we're doing "mornings with maria," we're talking about business, income inequality, the government has to be more forward-stepping. maria: no matter how much it costs. dagen, how much is this going to cost? dagen: exactly. medicare for all. one, a lot of the major potential presidential candidates in the democratic party have signed onto or supported the bernie care, the medicare for all. it's kamala harris, corey booker. >> this is the cutting edge on the left. it's not necessarily representative of all of the
party. dagen: they should use what has happened to alexandria ocasio-cortez where there's been a lot of pushback on okay, how are you going to pay for it? $33 billion a year over 10 years and it rips up medicare and it rips up private insurance. they should use what she's going through, they better get out their abacus and figure it out. maria: she's wants socialism. >> that's not fair. it's not where the argument is at the moment. the argument at the moment is really about the idea that the government needs to do something about protecting people who may have pre-existing conditions or a catastrophic accident from economic ca calamity. when the right gives you a tax cut that drives up the deficit, people don't say -- we think on the right this is going to stimulate the economy, produce more jobs. maria: and it has. >> i'm just saying -- maria: 4.2% growth, 3.5% growth. >> the thing is about sarah
palin, she is saying stuff that's not calculating. she was right. she went on a limb with the amazon headquarters there. she had the same opinion, that was a screwy deal. that said, is she the sarah palin of the left? is the democratic party making the same mistake? are they raising her status and then someone makes her vice president and it screws up everything. >> it's possible. i think we're far from that. of course, i would have never picked sarah palin. john mccain did. >> look how quick donald trump rose. people rise fast. >> if you look at beto o'rourke, he's rising rapidly. he buys into a lot of strong liberal positions. dagen: again, it goes back to are you attractive or not. if he didn't look kind of sort of like a kennedy, do you think he would have gotten as much attention from hollywood as he did? maria: that's a good point. we are a visual -- right. >> that's why i come on the show. maria, i come every day.
dagen: there's good politicians, they're great retail politicians. i don't want to shorting change them on that. you ultimately have to make sure the numbers add up. maria: have the goods. the former president obama weighing in on what he thinks is holding back progress during the trump administration. listen to this. >> the reason we don't do it is because we are still confused, blind, s sh shrouded with hate, anger, racism, mommy issues. [ laughter ] maria: mommy issues. what's your reaction? >> i guess he thinks that some of our political leaders -- he didn't name our political leaders. maria: he thinks donald trump -- >> i would guess that's what
find out more and get out of line today. whenshe was pregnant,ter failed, in-laws were coming, a little bit of water, it really- it rocked our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today. maria: welcome back. ikea planning to cut 7500 jobs. cheryl casone on headlines an details there. cheryl: that's right, maria. good morning.
this move by ikea part of a huge restructuring at the company. they say shoppers do more shopping online than go to stores. they will affect office space communications such as communications and human resources. honda recalling more than 120,000 minivans worldwide. the sliding doors can open unexpectedly. it affects the 2008 and 2019 odyssey. they say they owners should take their vans to a dealer as soon as they get that recall letter in the mail. shares of honda are down 18% so far this year. so, presents like cash, gift cards and gas money, not on teenagers' christmas lists this year. for the first time, teenagers want cryptocurrency and fortnite five bucks virtual money. fortnite is a popular video game. players can use the v bucks to buy items like outfits and skins for their characters.
another popular items on teens' wish lisses it the iphone. the folks at reynolds are adding shine to your turkey. they came up with a way to glitter your bird with a little food coloring, pearl dust and something called gum tech tylo powder. you can make a dry rub that will put a sparkle on your thanksgiving table. if you want to make your turkey hotser, how about adding hot cheetos to it. they have a recipe that includes crushing up hot cheetos and coating your turkey with it. they say the best time to eat your tour kirk turkey is 2:00 p. they say it gives you time to stretch out the meal and still have the afternoon nap. maria: you can have the turkey sandwiches at night. coming up, the harlem globe trotters are here live. they're starting their 2018 tour.
we'll talk basketball, keeping it fresh and fun after 90 years in the game. the globies join us next. .♪ you could have gone down to the nearby tree lot and picked out a nice little spruce for the holidays... but you've got a ford escape with 4wd, and an example to set. ford escape. built for the holidays. with our best offers of the season.
maria: basketball takeover, the harlem globetrotters are performing trick shots across the globe and are stopping in new york city as part of their tour. thank you so much. you guys are amazing. joining us right now is the president of the harlem globetrotters, harold smith along with players. thank you so much for joining us. we look forward to you being here every year. tell us about the tour. congrats. >> we're tipping off our fan-powered world tour in new york city at madison square garden on friday. we're headed to rut against on
saturday -- rutgers on saturday and back to barclays arena on sunday. we'll be touring 30 countries and playing 450 450 games over e next year. maria: how do you prepare for that. >> >> question have a training camp in atlanta. for 10 days we train the rookies, we learn the new show, we practice all if amazing feats of basketball you'll see in a globetrotters show and we hit the road. >> washington generals still the standard go-to opponent. >> washington generals put up a great fight every year. these two stars make sure they're not going to win. >> have the generals ever won? >> in 1974. >> one time? >> they won one time back in 1974 by a late shot that p wasn't expected to go in. dagen: the fact that the globetrotters have been around so long, my entire lifetime, my childhood, what is the attraction? it is just this joyous
experience for families. it's something that everybody can do together. >> i think like howard said a minute ago, our fan tour, so like we're known for bringing interaction to our game and we create memories that last a lifetime and you could be 9 years old to 90 years old and never forget the day you went, who you went to a harlem globetrotters game. that's what we provide. that's why everyone loves us. dagen: my parents took me when i was a little kid. do you have that innate ability that you can connect with the audience or is that something you can learn? >> you have to be a great basketball player, a great person and a great entertainer. it's like the big melting pot of a personality. we all have different traits. i'm a shooter. >> i'm a dribbler. we love our fans. we think we have the best fans in the world. we driv thrive off their energys
soon as we step out into the arena, we feed off that. maria: you're a describe letter. how did you -- dribbler. how did you learn that? how did you come up with different steps. >> when i was younger i picked up the ball and i fell in love with it. i would study it. i was passionate about it. just with anything, have you to practice, practice, practice. maria: can we try it once? >> of course. >> this right here. [ cheering and applause ] maria: thank you so much. best of luck on the tour. great to see you. thank you so much for joining us, howard. >> thank you. maria: howard smith and hoops green. catch the globe trot other globs friday, madison square garden. be there. we will as well. want to bring you this tweet that prom put out. he says this, the president a moment ago, oil prices getting lower, great, like a big tax cut for america and the world. enjoy. 54 was just 82. thank you to saudi arabia.
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maria: welcome back. good wednesday morning. thanks so much joining us i am maria bartiromo wednesday, november 21 your top stories 8:00 a.m. on the button on the oaks, stocks looking to bounce back this morning take a look we have got rally under way, as we expect the dow industrials to be up 180 points the opening of trading this morning three-quarters % higher s&p up almost a percent nasdaq 81 -point gain up one and a quarter% after yesterday's meltdown concerns
over trade big technology woes weighing on investors at the end of the day dow industrials gave up 552 points 2 1/4% lower s&p down almost 2% nasdaq 120 pointed sell-off. >> dow and s&p 500 negative for 2018 down 1% nasdaq flat on the year global markets this morning strength this morning european indices higher about dax up almost 1% 99 poipts hive in jairment mixed there pretty much fractional movers across the board. targeting trade with china, trump administration, calling out beijing, for still geejdz in cybertheft what it means for president trump's meeting with xi 70 a week from friday standing by saudi arabia president trump emphasizing strong die to say the saudi kingdom despite questions of the involvement in murder of
jamal khashoggi shock waves in the oil market. >> right now oil prices in great shape i am not going to destroy world economy i am not going to destroy the economy for our country by being foolish with saudi arabia. >> fallout for the markets coming up this morning p, plus staying put facebook ceo zuckerberg speaking out will not step down, we have details there, and t minus one day turkey day millions of americans hitting roads and skies we have everything you need to know for your travel before you head out the door including the forecast for the macy's day parade all those coming up wednesday morning joining me to break it down fox business dagen mcdowell, mitch robberel, jonah great to see everybody. >> trump tweet about oil trump did not get a lot of press about this but he engineered oil prices, other issues, global economy slowdown but he tricked russia and saudi
arabia so soft on saudi arabia cost them billions of dollars got them to increase production in russia he was going to hit iran with sanctions before election didn't hit with hard sanctions to a much oil price collapse oil leverage collapsed especially short kweez in reverses price down a lot, down a lot for other reasons that was part of it he engineered that conning the whole global oil market worked has not softened saudis. dagen: tax cut for every american. maria: tweeted about. >> every penny gasoline is down a billion dollars in economy next year could be good for us if oil prices stay more -- >> too much of a good thing if it go he is to 30 or 40 our production, the debt but that -- we're not quite there yet. maria: oil companies don't want it all the way down.
>> great timing into holiday shopping, with the travel, in terms of gas prices as well. >> no question a good the timing is perfect. maria: a lot coming up going to talk about that top story right now market rebound, we've got markets higher across the board, after a huge o sloefl yesterday, and day before two days 500 point movers gerri willis on the floor with details good morning to you. >> good morning to you maria that is right looks like we are going to have a nice morning, this morning, as stocks look like going to open higher take a look at the futures here all higher dow jones industrial average up 183 major improvement over course of the morning, this after dow s&p fell into negative territory for the year, yesterday. the nasdaq just barely behind not barely, about positive, bear market territory let's talk facebook for a second, zuckerberg saying in interview he has no plans to relip kwish the seat as chairman. listen. >> so you are not stepping
down as chairman? >> that is not the point. >> that is not the plan would anything change that? >> i mean -- eventually over time i am not going to be doing this forever, but i certainly -- i am not clurment thinking about. >> duckworth under pressure from new york city pension funds treasures in road island to step down fix that breach important months ago, "new york times" story on op research also in crosshairs people talking about that today, just want to reminder you that, zuckerberg has a lock on bulk of facebook super voting shares controls 60% of the company getting him out of that chairman seat hard indeed, maria, back to you. maria: thank you so much gerri willis floor of nyc, black friday almost here more than 164 million people are
expected to go shopping, this thanksgiving weekend, national retail federation i want to say we had international shopping mall ceo on, tom he said i quote going to be a blowout of fourth quarter a blowout of christmas shaping what do you think. >> i think consumers are starting to go back to stores because retailers brick-and-mortar retailers are starting to figure it out better you saw earnings last two he quarters brick-and-mortar retailers people are back in malls a good thing this year, i think the consumer right now let's put stock market aside, still feels very about optimistic, so they are out there, all of the forecasts for holiday shopping up significantly over last year. >> will prices go up because of trade dagen? so i mean we have been waiting for this story to hit the consumer, and walmart to raise the price of a bicycle, and other things, because of the tariffs. dagen: it looks right now that that was one of the
worries showed up in target's earnings report yesterday, it is facing higher costs in supply chain higher wages for workers, that was part of the reason stock fell 11% in one day, a stock that was already down double digits, in the preceding do as ahead of earnings report not really passing on pricing. >> not yet. >> may not be able to -- >> you do about the think impacting the stock market. >> the dollar sales of sales are going to be highest ever i would imagine if profit margins not highest because companies can't pass on costs they are eating all these costs, and that is isn't ideal ultimately you are buying earnings stream not revenue story, that i am concerned about it but not the top fear. >> tensions with trade joining us chairman of the latino
cou coalition your thoughts on tensions around trade. >> listen, you are always going to have tensions, as economies are trying to grow, and, obviously, with a we want is a level-playing field we haven'ted one a long, long time in particular how it effects small businesses as you know most businesses want international trade are small businesses only represent 30% of the trade going on, so anything that we can do to help those small businesses, trade with other countries i think is very important. >> i understand, but china, while not a small business, it is going to impact businesses big and small new report trump administration says china, has not fundamentally altered unfair unreasonable market distorting practices as president chinese presidents xi jinping are headed to gi. 20 summit the end of the month what do you want the administration to do when we know that china has been stealing our intellectual property now, for decades, and they are you know unwilling to open up their markets to american companies? >> well they need to keep
engaging when i was in government small bus administration we went to china, this is 15 years ago we will have dealing with same issues, i remember meeting with top officials in china they said we want more business with you're small businesses obviously that hasn't happened, but all these issues around intellectual property, theft, around currency manipulation unfair practices when businesses try go over there has to stop it has to be a mutual beneficial relationship right now has intlaentdz one way. >> good morning mitch roschelle one of the things that hopefully can happen i want your reaction to this as we begin to make trade deals around the world north america, the u.s., andn ca i think i got that close. >> and, some european yun alliances trying to forge will that begin to put pressure on china, to sort of come to the table little bit more
fulsomely making agreement not only with us perhaps with other trading partners around the world. >> i. >> i was in mexico last week going for inauguration they are excited about this new agreement, between canada united states and mexico they are also concerned about china, because you know china doesn't just to united states does to it a lot of countries that they work with, and so, to the is it not that we can continue to strengthen our north american, south american canadian trade i think a positive sends a message, to china as well that other groups are going to trade with each other not totally dependent on china but i think you've got to do these on parallel tracks conversations continue on it is a highest level we've got to continue getting trade deals with other countries, that understand that it has to be a level-playing field. >> what are you expecting when democrats take control in january we are facing division
over tax increases before they take the house majority in january, are you expecting any changes to the president's business friendly agenda? >> i think they will try maria, you know. i heard somebody describe i want as when starting america you don't want to particular thon don't shoot nurse the foot hopefully democrats are not going to try the take us in that direction we are seeing great progress last two years we did not see for eight years look they are not able to get these passed through senate even if they could get it passed through senate the president is going to veto it so a lot of things are just kind have to me like show legislation, it is not really going to lead to anything, it is going to start a conversation, and division, by the way, one thing we all know when last two years it is much easier to run for office than to govern, their caucus divided as well not dmaults want to raise taxes. maria: right. >> quick is latino expert do those companies benefit a
permanent situation with china or is that business going to other parts of the region if not china or does it benefit south america, mexico? >> you know, it is a combination, obviously countries are trading around the world, there has been a lot of -- a lot of attention the china's complete to latin america, africa other places i think critically important united states don't take their eye off ball latin america is incredible opportunity for us they are growing, to the extent that they grow, that is going to solve a lot of problems that we are currently snoofg currently. >> having. >> a good question it has to go santa maria. >> who wins. >> exactly. >> i know. >> china a good question. >> hector good to see you. thank you so much. >> thank you, maria. >> happy thanksgiving. >> and to you happy thanksgiving, coming up alexa picks up the tab details on amazon reported plans to jump-start mobile payment app coming up thanksgiving travel
rush the outlook for traffic weather before you hit the roads. that is next. ♪ ♪ was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event. (clock ticking) (bell ringing) it's time. time for a new kind of cloud. the ibm cloud. the cloud that proactively protects your business from threats, instead of just reacting to them. that lets you modernize and move more of your apps without re-writing.
traffic thanksgiving this year northeast could see coldest thanksgiving on record high winds could mean no balloons at macy's thanksgiving day parade as well, at lax, with the latest on the holiday travel rush hillary good morning to you. >> good morning air travelers expected to show up in record numbers this year are in airports around the country are bracing, for the impact of what is supposed to be busiest travel day of the year. air travel is spiking record 30.6 million people are flying to their turkey this thanksgiving that is up over 5%, from last year so if you thought lines were long last year they may be even longer
according to aaa, 54, 54.3 million traveling five days before and after thanksgiving highest number they've seen since 2005, 2.5 million more than last thanksgiving consumers have a lot to be thankful for higher wages lower gas prices means people have more options to go places and cheaper to get there, but more trafrls means more traffic google maps estimates people driving to destinations four times longer commutes than usual. >> president trump answering robert mueller questions brurn election meddling cheryl casone cheryl: right a major milestone special counsel investigation could reach its end the question reportedly covered president trump motivations for firing former fbi director jim comey what trump knew about paul manafort in a statement trump's lawyer
rudy giuliani said quote it has been our position from the outset that much of what has been asked, constitutional issues must beyond scope of legitimate inquiry remains our position today the president nevertheless provided unprecedented cooperation. >> headline foxconn reportedly planning to cut nearly three billion dollars from expenses next year taiwanese company the biggest asembler of apple iphones in month there were reports apple had foxconn to halt plans for additional production lines to make the iphone x r apple stock down 4% off another 3.6% yesterday, take a look at apple premarket up more than one and a quarter%, this en to amazon looking to raise the bar against apple when it comes to mobile payments, the company teaming up with brick-and-mortar merchants to airfare amazon pay digital wallet, has signed up with gas
stations, maybe businesses not direct competitors like retailers for this service apple with a new twist on annual holiday commercial take a look. >> -- ♪ ♪ when these -- you say -- but i love -- >> okay this animated two minute spot dials back product placement this year only about occasional do you see the max book covered with stickers, as tradition it pulls on your heartstrings encouraging us to be less materialistic. >> awfully sleepy. >> on in -- i wasn't -- >> pay for that placement on back of the mac? >> pays --
>> what is strategy, interesting. >> what a strategy. dagen: boring. >> crude awakening nothing boring about outlook on oil, supply concerns president trump remarks on saudi arabia tweeted about it today a check on the health of the economy durable goods out bottom of the hour expecting a decline 2 1/2% we will have those numbers tell you if it is impacting markets get the analysis around it back in a minute. ♪ ♪ ♪ ♪
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a terrorist nation right now. although i must tell you they are a lot better right now than they were when i took office, when i took office they were heading in a very, very bad direction. and at some point things very positive frankly could happen with iran we need a counterbalance israel needs help. >> standing by saudi arabia asked about kingdom role in the killing of jamal khashoggi, comments weighed on oil prices the president tweeted last hour about crude oil, as you can see, he wrote this oil prices getting lower great, like a big tax cut for america and the world, enjoy. 54 was just 82. saudi arabia, about let's go lower portfolio manager rob thanks very much for joining us you think prices are sustainable at this level what do you think oil goes now? >> yee for we think oil probably going a little bit higher from here obviously
lower oil prices are great for consumer a lot more money for holiday season everybody likes that, but we've got to be careful about prices getting too low if prices get too low sector doesn't invest enough capital that increases probability or risk we could have a price spike into future some point in time. >> you made the point earlier that banks see the administration, and president trump, that you are looking at oil where it will is right now. >> yeah i mean it seems like rampant speculation going on, trump engineered the price to drop maybe 10, 15 as there are a barrel coercing to pump more in anticipation of iran sanctions not as big as we thought they were going to be, understand dently natural gather skyrocketing rare to diverge that much tune
production in u.s. cold weather snap a trigger point that is going on for gas can consumers expect those bills to go up to counter the pass gills to go down. >> a good question for natural gas, what we have is a situation, where natural gas inventories at lowest levels they've been entering into this winter heating season now winter has come a little bit earlier than everybody expected inventories low so you have seen a short term spike if you look into futures curve into the future natural gas prices come down get back in, more of a regular range yeah there will be a short term spike, in heating bills for a little while, but we will get back into normal range, over a longer period of time. maria: we will leave it there thanks so much. >> happy thanksgiving washington in your wall hoyt the economy is impacting your pocketbook, then we are waiting october durable goods we are expecting a decline of 2 1/2% for month of october we'll see how it impacts markets right after this.
maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, november 21 stop stories 8:30 a.m. n east coast breaking news rights now we are about to -- up 4/0 -- negative 4/10 of a percent durable goods out down 4/10 of a percent better than expectations it was calling for decline 2 1/2%, it is actually down on october durable goods, but not low not as low as some people thought. october durable goods just hitting the tape right now, and as you can see, the initial jobless claims coming out not seek major move in
markets as durable goods orders hits tame estimate decline 2 1/2% we are seeing decline, but not as bad, agency expected. >> october durable goods odds out right now, dow industrials meanwhile, looking at rebound this morning up 173 points 3/4 of a percent avenue two day o sell-off s&p 500 up 22 nasdaq gain 82 points for the nasdaq up 1 1/4% toebl durable goods worse than expected down 4.4% versus estimate down 2 1/2%, october durable goods report, much worse than expected, as you can see, on your screen right now, we are not seeing an impact, on markets with this durable goods report. european indices look like this they are higher across the board, ft 100 up 77 points cac quarante up -- dax up 105 asian markets mixed asian markets fractional moves across the board, joining us to talk more about the
economy, and markets, stephanie pomboy back great to see you thanks for joining us. >> how important are durable goods numbers down 4.4% much worse than expected. >> is i guess nondefense cal goods i can tell you what they are. >> xaircraft nondefense capital orders xaircraft you think changed for a gain /10. >> have across the board weaker than expected i think this fits in broadly with the idea, that the best is behind us. you know. the -- peak in economic activity capital expenditures employment and profits i think is all behind us now. and we should expect selling activity going forward nots surprising given the fact the tax cut list is going to come to an end shortly you've got fed tightening, next year, wi
february, global banks stop adding liquidity entirely you are losing a lot of key propellers of growth right now. >> stephanie, the fiscal stimulus tax cuts drove ceo optimism they were excited about it had all big plans. yet we're not seeing it in numbers is offset of headwind trade concerns? or global uncertainty concerns or a combination of all of them? >> well, i guess, you know if you look at capital expenditures throughout the year, generally, they haven't been particularly strong, you would have thought given the optimism that they would have spent a lot more but what they spent the money on was share buybacks, dividends looks like latest quarter was a record for share buybacks, so you know, that is not -- >> stocks on sale are they going to do more of that. >> timing is beautiful here.
but i think that pardon me stock market standpoint is kind of critical as we move forward, if the growth in profits is behind us he you don't have all money from benefit of the tax cut buybacks would you expect to flow next year, and that is a key support for the stock market that will be gone biggest sector purchaser of stocks was the corporate sector itself not retail investors. >> real spofrz does this give fed what they need to not raise interest rates any more because economy not that strong stock market tanks we had don't do that wink, wink but is this going to send 10 year back, will support stocks relative valuations being toward stocks. >> right i guess we saw earlier this week you had a huge collapse in interest rates in the treasury market concession of yields curve, et
cetera, that is stock market from tanking in face of that that idea there is a fed push that you don't have much threshold for stock market pain before they bring in fire hoses seems to be the being tested in part, sort of perversely due to trump's tweeting about it, sort of put fed in a box they almost have to tighten, just because -- >> i know you got a lot of -- mixing -- president did that -- but the only thing -- >> -- dagen: he wasn't around when nixon was president of the united states as i points out earlier we don't know what real impact was we could babe all day long for weeks and weeks, about with a president putting pressure on a central bank chief we don't know that that is inflationary. >> i asked robert kaplan about it said we're not reasoning to it not getting impacted we are independent not getting impacted by what the president
says yes been calling out fed but we're not going to change policy as a result with a robert kaplan president of the dallas federal reserve on this weekend on wall street. >> if trump right rates too high now we've got to raise more. maria: no way -- i can't imagine like that. >> i think trump is totally right fed has been too aggressive relative to the economy to put differently the fed has been exerting a drg on the economy that people have not been paying attention to, because it was matched by the stimulus of the tax cuts. >> if one like get ahead of inflation so much bonds purchased during crazy expansion couldn't if inflation never took off, couldn'ted they sell that cause massive -- do more than raising interest rates flooding destroying the money they created basically. >> you have to unwind. >> they do. >> slowly, unwind not actively
trying to powerful position to create deflation. >> trillion-dollar -- >> i think deflation or disinflation what we are talking about, is sort of a -- a lame concern, i think we don't have to -- i'm sorry, the fed the idea that fed is worried about inflation getting out of control, is -- ridiculous i don't think there is any concern any real risk that inflation in the economy as hot as we've been in terms of economic activity -- inflation has been incredibly -- >> one of the reasons raising for psychologically i think worried no room to do that what are we going to do 1% now. >> that was idea more bullets in chamber for use down the road sort of you know to my mind like let's kill the patient in effort to you know save something for later. it is -- >> get it done -- recession.
>> keep in mind kindly of crazy if you don't have a justifiable reason in terms of fighting inflation inflation cycle not in economy it has been in financial assets so the qt. >> -- it was written in the journal about something you have been talking about all year to prepare for the -- the european central bank to stop buying bonds, to for the bank of japan to start pulling away from its own stimulus monetary stimulus quantitative easing writes i know we don't use phrases but quantitative easing was the bond buying that he writes a new generation of investors dubbed qebabies have only known markets back stopped by monetary largesse a scary thing. >> yeah the fact is that basically we've all ever livered through environment a fed starting with alan
greenspan in respect 1987 we became you know, acostumed to idea fed would rush in prop up economy markets at any sign of trouble. but you know, i guess -- i think this is going to be the city for 2019 is that in 2018 we had this huge benefit from the tax cuts signals stimulus stole show behind-the-scenes, the fed was raising rates credit card rates were going up mortgage rates were going up, and they were taking money out of the banking system draining reserves. >> a bigger need is for fiscal stimulus. >> right fiscal stimulus offset that when we come into january 1, all of that changes i think monetary policy will step in to the spotlight both here and around the globe in terms of you know, dagen talking about you've got an end to quantitative easing. which is still taking place.
offshore. >> is that do all countries -- more problem major economies do we have to stop relying on banks to do heavy lifting controlling the boom and bust cycle? the problem is now they are raising rates raises our borrowing costs significantly all countries that are ditching -- debt should they use taxes to control booms and busts or creating more debt higher rates do. >> before jay powell before janet yellen one federal reserve choof after another after another something they tried to hammer into thick skulls of the politicians in washington, that this can't go on forever, we are warning you we are warning you you need to right your fiscal house in terms of -- >> the money to i mean basically they went out bought treasury bonds how more how easy you make it for politicians to spend money.
>> mortgage backed securities to try to save the housing market, another unwinding it, can we go back to inflation for a second all central bank others are focused on inflation, and is market just gotten efficient enough that inflation isn't the worry, then you need to scrap the playbook dwep something ensue. >> my sense a longer term secular for -- most of the last couple decades globalization was a huge deflationary force also levering up in u.s. has had a depressing effect on that inflation because you've got a service more and more every marginal dollar spending more on debt service. >> a billion day on the horizon isn't. >> it amazing. >> paying for 21 trillion. >> i don't worry about treasury market as much look
at rally we've seen i think the point that we're that is being illustrated here that is the threshold of triple digits pain for this economy is so low, we get to 3.3 on the 10 year we feel like the wheel start coming off, so jo worry about the treasury market i worry about the corporate bond market, where you are going to see spreads blow out as people reprice in this environment. >> you have gen suggesting we are going to see slowdown in the economy for sometime now. >> right. >> you have also been suggesting we will see, a big stock market sell-off. >> right. maria: we are seeing it here we are you are right, it is down 20% from the highs, many cases many indices stock in bear market territory. >> right. maria: how much further are you expecting? >> well, a decline. maria: or have we seen. >> it i think we are just getting started my sense is what is driving this decline is the -- change in estimates forward earnings estimates for next year we started this
year, i have a chart forward earnings estimates for 2019. and for the entire year they were 12%, for 2019. they just were like a straight line, never seen anything like it then all of a sudden they started to come down in the last month, and i think that is why the stock market is starting to you know, get a little antsy because worrying about what is the propeller of growth next year absent tax cut stimulus the fed. >> how far growth. >> that is true tell me something what have you done for me lately you know we saw 4% no one forecasting 4% for next year including you know, anyone -- >> -- the biggest globally globally growth -- >> the jpmorgan chase odds of recession 12 months one in three a year ago was 8% to 27%. >> the thing good till it cansels, goldman sachs
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pai'm open to that.medicare? lower premiums? extra benefits? it's open enrollment. time to open the laptop... ...and compare medicare health plans. why? because plans change, so can your health needs. so, be open-minded. look at everything - like prescription drug plans... oh, and medicare advantage plans from private insurers. use the tools at medicare.gov or call 1-800-medicare. open to something better? start today. open enrollment ends december 7th. . maria: there is something to note professors in england reportedly advoiding all
capital letters could scare sensitive students host of "varney & company" stuart varney scared. >> ready for a rant the day before thanksgiving? >> go for it. >> o you are going to get one could you believe this? this is journalism professors at university in england told, lay off the all caps. don't do it. it frightens sensitive students oh, do use words do and don't often that, too frightens sensitive students are you kidding me? s can you imagine, somebody coming out of the school at this university can't handle capital letters? what kind of person are they? what kind of job are they fit for they should not of an be in college they should be in kindergarten if anything. it really bothers me that our freedom of speech is being restrained curtailed, because of the sensitivity of other
people everything to. we have to guard our words even guard how we type a message, bearing in mind stream sensitivity of anyone who might look at the message. >> outrageous. >> 2016 election donald trump won middle-school teachers, in some high tax states like new york, were telling students, oh no practice, hot cocoa don't worry it will be okay world not coming to an end what basically protecting. >> 1963 guy called mario savio started free speech movement at berkeley in california that is all he wanted free speech we need a new free speech movement now. >> how about teaching kids about free speech and democracy, stu. >> how about that maria. i am showing my age don't follow me maria don't do that. >> i am not going to see you 10 minutes. >> you will. >> "varney & company" top of the hour right after "mornings with maria" join stuart 9:00
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. maria: thanksgiving tax paying best time of the year to remember what we are most grateful for lauren simonetti joins us with more -- >> hi, thanksgiving all about the food the family the friends, we want to show you we went around the building talked to friends at fox this is how they celebrate thanksgiving. >> ♪ what is thanksgiving like in your household deirdre. >> okay. so we go to philadelphia a lot of dogs, a lot of cats, a lot
of cousins a lot of aunts uncles a lot of food a lot of wine so fun. fun to be together, fun to connect, multigeneral recreational play games between main meal and dessert most who want dessert stay in dining room area so they don't disappear quickly. >> we are very italian all traditions are italian. >> antii pasta italians don't like saying vowels at end of things meets cheeses high quality along with very vinagery vegetables. >> even maria bartiromo knows about pasta. >> my mom and i at spoken trips to new york city living in california, two days before thanksgiving to see macy's thanksgiving day parade live
something we al wanted to do i will never forget waking up early coming down to 6th avenue watching the parade, seeing it for the very first time. >> thanksgiving on thankful for the fact i get to spend another thanksgiving with my larger loving family with a lot of amazing food, at my uncle's house, and watching a lot of football. ♪ ♪ . >> all right, grateful for everything that they said and not having to cook this year myself i love being a guest. >> i was told bring dessert i am going to buy it [laughter]. >> i'm thankful for my family my parents going to be with them thanksgiving my husband and thankful for family at fox dagen all friends, mitch welcome to the team. lauren, all of them. >> the package, is kind of expresses something people don't really understand about fox, until you get here, is we really -- get along we see
each other as family protect one another, and we support one another, in good times and bad it works outside of work i think that that is the secret as you see. >> it is. >> secret sauce. >> -- >> i love my tv family especially you two ladies, of course, you lauren 5:00 a.m., so much fun to work with i am thankful for turkey legs netflix and alcohol. [laughter] >> same thing never -- see -- tammy rachel mckenzie team a phenomenal job every day. >> shames me how to pronounce names. >> italian new -- >> and -- dagen brooklyn
staten island. >> going to brooklyn. >> -- i wanted to slaist year didn't have time i am thankful for the opportunity to be part of this show this is literally highlight of my day. >> we love you we love. >> you thank you, love you all thank you so much lauren we will see you later we'll be right back. ♪ ♪ i wanna be with you yes, i do, every the greatest wish of all... is one that brings us together. the lincoln wish list event is here. sign and drive off in a new lincoln with $0 down, $0 due at signing, and a complimentary first month's payment. only at your lincoln dealer.
>> a big thank you for a fantastic viewer thank you for keeping us honest and being there every day. "varney & company" stuart happy thanksgiving to you. >> good morning march why and a good morning everyone. before you head out the door look what's happening to your money today after a the market plunge. i'll call it a modest rebound. remember the dow has lost nearly a thousand points over the the last two days. dow will open with a gape of 130, 140 points. the nasdaq nice gain there up 1% 70 points all eyes are going to be on apple hit as taken a huge hit. today, a modest rebound back to