tv Mornings With Maria Bartiromo FOX Business December 11, 2018 6:00am-9:00am EST
points after theresa may delayed deal to leave the european union, by the close as you can see, markets reversed course. global markets this morning are also seeing a bid of a bounce, take a look at ftse 100 better than 1%, 69 points higher, and the dax index in germany also higher by 1 and a half percent, 157 points higher this morning. in asia overnight, markets little change, fractional move and mix. trade talks moving forward, u.s. and china holding negotiations last night. we have the latest on where that stands. coming together, president trump to set with house minority leader nancy pelosi and funding the border wall among top items on the agenda, chuck schumer and nancy pelosi, offer to 1.3 billion but short of the president's 5 billion-dollar request. google's turn on the hot seat
today, ceo sundar pichai headed to capitol hill and testify before house judiciary committee, fox business will bring you that live 10:00 a.m. eastern. we will tell you what to expect this morning. losing crown as most streamed song for the 20th century, we will tell you what tune knocked it off top spot. joining me to break it down dagen mcdowell, lindsey bell and beyond sport global fox news contributor john layfield. >> brexit, potential government shutdown, it'll be nuts. >> positive reaction to some of the trade news and especially in europe, all in the green after yesterday's brexit. maria: we will see how it closes, market's volatility has been unreal. dagen: trading off headline,
commentary, anybody, everybody coming out of the white house and i think that that's going to be the case other than federal reserve meeting in the month of december the only piece of news coming up that we know about. maria: we talked about the fact that the president of france macron has not been seen in the face of all of the riots, we did see yesterday, what do you think? dagen: tax cuts but again i want to point out the kickoff the yellow-vest protests was gas-tax hike to push environmental agenda and i think that that's an honest move because that is what it does take if you want to broadly reduce emissions and push an environmentalist agenda, everybody bears the cost of it. that gas tax hike has completely gone away but the protestors have still been out four weekend in a row, i'm curious to see if
this really does soothe the risk. i need to give gardner credit. nile used that phrase over the weekend. credit to nile. maria: he was great when he joinedtous -- joined us this morning, jim jordan is here, google hearing among other things, jim comey, michigan congressman debbie is with us this morning, congress mam din -- dingell and former british parliament member senior economic consultant john brown is here as well, fox news senior strategic analysts and retired four star general jack keane, don't miss a moment, big 3
hours, kick it off right here with top story, tall swings in the market, checking futures, pretty strong opening for today's trading, dow industrials up 112 points, half percent higher after wild day yesterday when the dow slid to session lows down better than 500 points after british prime minister theresa may announced delay of the exit vote britain leaving european union. markets reversed course, as you can see after lows at 11:15 a.m. in the morning, things slowly but surely came back only to end higher. when we were down down at 11:15 market in correction territory. investor ceo. >> thanks for having me this morning. >> we have done to raise cash in fed pop, big day, markets up 2%,
we raised cash 17% in portfolio. maria: big number. >> we were pretty skeptical of anything coming out of g20 and after we saw that over the weekend we start today get more defensive. maria: longer term has anything changed in terms of structural performance of the market, look at the backdrop, higher rates, has anything specifically changed that you want to shift allocation? >> we are late cycle, late-cycle activity. that's what we are seeing, i think it's normal to see this type of activity toward end of the cycle. they said don't fight the fed for the past 10 years effectively, don't fight the feds still. >> one trend that we have seen in the morning when you are up by a nice amount we have seen
the pop, initial pop sold to the end of the day and end the day of the low, do you expect that today and when can the trend turn around? >> tough to call day-to-day move but i talk about a santa rally, january rally which is somewhat typical. people are looking to sell into it. that's going to be a trend we will see here. there's been rotation that occurred at hedge funds, derisked and brought down leverage and still in a situation where they have more to go, still long tech, unwinding to do, they are thinking the cycle is over, the rotation will continue. >> yesterday all talks about brexit, g20, if you take out the geopolitical events and trade only on the market, what would the market be doing right now? >> that's tough, all we do is connect go owe -- geopolitical events to the markets. >> i guess my question is are we
heading to recession, great christmas retail season but people wonder if this is the last hura. >> so that's happening, now, if there is a true pause and we start seeing constructive discussions with u.s. and china we can see reverse course in market. maria: we have new round of trade talks that we are reporting this morning, mnuchin and lighthizer holding call last night discussing agricultural purchases and this comes amid heightened tensions over the arrest of huawei ceo, she's waiting to found out if she will be released on bail.
all intertwine. we did hear china was going to buy agricultural products, $1.3 trillion was the number. dagen: because of the trade fight with china. two-party fight, not a one-party fight and it has hurt farmers, that will be good news, there needs to be one voice, there needs to be one voice and i would say it's the president of the united states, i think investors have become accustom to the way the president communicates, people can call it what they want but that's who he is as donald trump, president of the united states, i think that this is a moment where a lot of these talking heads in the white house need to stay off television and i say that yesterday about peter navarro, there needs to be one voice and fighting within the white house over time within lighthizer,
navarro, mnuchin andlarry kudloe president talk about it. maria: apparently they did havet change opinions in your view on wall street in terms of where we are in this negotiation? >> i think it's positive to see that we are back at the table, since july they weren't at table at senior level, it was barely junior staffers. it's positive to see that. we see president xi and president trump and they both domestically, we have to get something done, they are looking at markets, both of them. maria: do you think we are seeing rally because of new talk last night, right? >> i definitely think -- maria: right now? we also have another push for tax reform, ben? >> i don't think that's what's driving markets today. maria: kevin brady retooling the
tax cuts 2.0 right now, secure more republican votes, the bill delayed several healthcare taxes, expecting parents to create 529 plans for unborn children. you don't think that has impact in any way? >> the planning released the week after thanksgiving was more bipartisan and revisions are more partisan, seems pretty lame duck. dagen: speaking of politics, i will throw this in, i'm hearing more and more from investors they are waiting for mueller report to come out and they point to the ken star report that came out, granted that was the collapse of long-term capital management as well, it's hard to separate the two, but in two months between mid-july and star report coming out in september, the s&p fell more than 90.
but people are standing back and now waiting as more and more filings come out of mueller team, out of u.s. attorney for the southern district of new york on friday, that's becoming a focus as well and gary b. talked about it over the weekend. maria: one of three really important things that will probably give us a sense of what's going to happen in 2020. number one, who do democrats put out to go against president trump, number two, how is the economy doing, we see if we are in growth slowdown and number 3 the mueller report. dagen: i want to add one more thing. i think the markets and i think you're getting lift into the week because we did get inversion between the yield curve between the 2-year and 10-year, if the shorter rates are higher, recession in the last 50 years, we didn't get that last week, a bit of relief among investors. maria: 2-year and 10-year markets were selling off. dagen: as narrow as it was in
2007. >> the fed maybe walking down and doveish tone obviously played into that. maria: do you buy into that, fed will not raise as many as people think right now? >> i don't think so. i mean, we look at -- if trade continues like this, that's a drag on growth, even if it's discussions, it's dragging confidence, if we see this continues, i don't think it's happening. maria: ben phillips, macron gives in, tax cuts, more than a billion dollars of damage was done. google on the hill today, ceo sundar pichai to answer questions from the house judiciary committee on alleged bias against conservatives, we will cover that live and talk about it next. stay with us. look, if you're not the lead dog,
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because your investments deserve the full story. t. rowe price. invest with confidence. maria: welcome back, more drama across the pond after uk government postponed today's schedule vote on its plan to leave european union. cheryl casone with the headlines, cheryl. cheryl: so many moving parts, maria, theresa may in brussels after she postponed today's schedule vote to leave eu, meet with european leaders, but the eu ruling out any further negotiation. and may could face challenge to her leadership for rivals in the conservative party. well, lord of the rings' actor, poke fun at theresa may and her precious brexit deal, look.
[inaudible] [laughter] cheryl: circus release the video over the weekend with title leaked footage from inside number 10 downing street. the video has been viewed more than a million times, released ahead of plan parliamentary vote. pretty funny. let's move to france, embattled president emmanuel macron to cut taxes and increase minimum wage as he addressed the nation last night, first public comment following 4 weeks of violent protests over economic agenda, macron partly responsible for demonstrations of led by yellow vest protestors.
>> and i want to see an immediate and real improvement in the salary, this is why i'm ordering an end of year bonus for all employees without any taxes. cheryl: last week macron suspended hike in fuel tax, those are headlines. maria: a lot of drama coming at. you can look across the channel and thank god you're not in france. dagen: which they think all of the time. i lived in britain which they don't like the french. they love the food. >> brexit ends up being probably hard brexit, if that happens italy drops out of eu and the eu dissolves.
maria: really important point, europe is falling apart. we know what's going on in france, we know the situation london. big issue with italy, england -- uk has to stay in, it will tell italy to say as well. they could get out as well which kills eu. dagen: there's something cultural going on that's always been in place, italy that they feel like it's important to preserve national culture and national identity and it's the same in france and it's the same in britain not having a bunch of quite frankly elitist snots and outrage of yellow vest in the making, he's trying to take some responsibility for it. when you are run of the elitist
snots. >> the economy over there is slowing down there too in lower levels than here. dagen: germany is contracting. maria: do you think it impacts the united states? it's going to impact on the way we see growth in the united states. dagen: it already has, president donald j. trump, and the rural america, the politicians were not listening to people in the hinterlands. maria: short break, real frustration at cbs, possible legal risks over leaks of les
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maria: welcome back, tech is taking the hill, google ceo sundar pichai to appear before house judiciary committee later this morning, google ceo expected to answer questions on the company's business practices including handling of user data and potential political bias. joining us to talk more about that, first this is what kevin mccarthy told me about the hearing. you have the ceo of google to testify, what are you looking to
get out of that? >> we have looked at this for quite some time. technology affects so much of our life. two-thirds of every adult american gets their news from the internet. maria: that's incredible. >> no other company that has a greater control over the internet on searches than google and google has not been coming to any of our hearing, whereas twitter, facebook and others, 90% of all internet searches goes through google. maria: bigger power? >> this is why we are having hearings, what do we need to protect, what do we need to stop the bias, what do we need per -- for competition. maria: daniel, thank you for joining us, as investor, what do we need to focus on in terms of technology? >> regulation, that continues to be this sort of big threat for big tech, you know i think right here, you know, google has been the last one to go in front of
congress, really in terms of how they navigate data privacy and big focus on china because if you look at china, especially with everything going on, google, how they are looking at potentially getting in to china from a search perspective, their view there and overall privacy, front and center, big tech is watching this, this continues to be overhang on the space from a regulatory perspective. maria: speaking of china, google decide today work with china in ai and didn't want to work with pentagon, didn't want to be anywhere near the u.s. government and national score, individual scores for people where they are watching you at all times and at the end of the year you get a score and that may dictate if you can get on a plane, get a mortgage, incredible and google is enabling that. >> they find themselves in the cross hairs, but the thing that's happening with broader china, you look at 5g, battle
between china and u.s. and tech and battling on china and especially 5g ai. >> regulation in the u.s. is different from china and from europe where they passed data protection regulation this year, how do these companies november gait waters, what does expense does that cause and how do they get to point a from being able to deal with that? >> i think that was big fear going into that may, i think so far, you know, that's when it's pretty contained, that will continue to be unicorn in terms of how much regulation overseas, look at investor perspective giving what we are seeing in the market, the last thing to come out of left field today and this also given what we saw yesterday with apple, qualcomm and china,
so that's the broader backdrop of tech where some of the things never factor into valuations. >> great run-up but right now trading on geopolitical news, the tariffs kick in could hurt global supply chain significantly, do you stay away from apple here or finding some value here at lower valuation. maria: let me answer that chinese court is ordering apple to stop selling older iphone models after found that the company violated two patents out of qualcomm. >> qualcomm-apple situation gone on for a long time, you look at what's happening with china, china 2025, incremental growth for apple. if you look at tariffs, you look at the situation, we continue to believe that there's value in apple here where it's trading but no doubt, if the 90-day period comes and tariffs get up
to that 25% and potentially iphones, that could be back breaker for apple. we continue to be buying the name just on valuation of iphones. maria: stocks at lowest earnings multiples in years because they've taken such a beating, what are they trading in now? >> look, $15 of earnings for am, something that's now trading -- 12 to 16 times, trading below historical range. you are starting to get down to levels where you are baking some significant bad news to am. look every day the sun comes up and bad news in apple. it's been massive string of bad news over the last six weeks but self-inflicted. you look at cook, once they took iphone and transparency decreased, that set off the storm here and you continue to see through suppliers.
>> services going to 10 billion to 50 billion, you think it's a hardware company depending on sale of the iphones? >> it's a services-led hardware, 50 billion in services in 2020. we believe that's worth 40 billion the service's business. 3 to 400 billion, hardware iphone business in near term, 60% that's where it comes from. that's going to rule the day which is right now disappointing xr that's been gut punch for apple. maria: you still like the stocks? >> we are not waving the white flag on apple. we much rather own apple versus other names, large cap, just given the valuation and given we know that there's a cycle there with regulatory risks. maria: google on the hill today
so we will see what happens with alphabet parent of google, dan, great to see you. >> thank you. maria: stay with fox business, we will send you live with sundar pichai's testimony, begins 10:00 a.m. eastern today, join us and we will roll on that. major meeting between president trump and top democrat leaders, chuck schumer and nancy pelosi heading to white house. smells like teen spirit, losing crown as most streamed song from 20th century, we will tell you what tune knocked it off from the top spot coming up. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can
december 11th, take a look at futures, indicating rally at the start of trading this morning, big opening with dow industrials up 160 points. s&p 500 up 16 and nasdaq up almost 1%, 60 points higher on the nasdaq. run in technology stocks helping the major indices with major comeback, the dow down 117 points and at close ended up 34 points, fractional gain but wild one, the nasdaq was up 51 points, market was initially hit as british prime minister theresa may canceled vote on uk's exit from the european union, now spokesperson for may is reportedly saying that the government will bring the deal back for a vote by january 21st, all right, january, january 21, in this europe rally as well, cac quarante up 1 and
two-thirds, 78 points higher, dax index in germany, 163 points higher right now in germany. small action in asia overnight as you can see, very fractional moves there, mixed story. a new round of talks is underway, treasury secretary steven mnuchin and robert lighthizer talked with china's vice premier on the telephone last night. one of the reasons the markets has firmer tone. american farmers in spotlight, congress expect today pass 5-year 867 billion-dollar farm bill, we will have details there cbs board meeting ahead of shareholders meeting, we will tell you what they are reportedly concerned about on the les moonves. narvana lost steam on most
viral, the tune that knocked it out right here. first top story this half an hour, shut down showdown, president trump is expected to meet with house minority leader nancy pelosi and senate minority leader chuck schumer today at the white house, they are trying to strike a deal on funding for the border wall. democratic leaders will reportedly offer $1.3 billion to fund the wall, stark difference from $5 billion the president is requesting, the meeting ahead of looming 21st deadline to avoid partial shutdown, i spoke with south carolina senator lindsey graham, he weighed in on advice for today's big meeting. we know nancy pelosi and schumer will be meeting with the president on tuesday to talk about border funding, why can't the senate get on board with border funding? >> look at the caravan, look at the caravans that are to come, look at the holes in our border
security, so here is the problem, you have the democratic leader to be in the house calling border security a wall component immoral, if i'm president trump tuesday i would tell nancy pelosi and chuck schumer that we will build the wall where it makes sense, if i were the president i would dig in and not give in on additional wall funding, i would want the whole 5 billion because the caravan is game-changer, 1.6 is available to the president, he wants 5 and after the caravan if you don't see the need for additional border security, you are not paying much attention. so mr. president, dig in, do not give in when it comes to the law. maria: isn't it the senate that's stopping this? we have the money in the house, it's the senate. >> well, you have going to have the speaker of the house who will be in charge next year, what about next year, so here is what's happening in the senate, we need 60 votes to get 5 billion, if i were the president i would tell the democrats i want $5 billion for
wall security because, border security including the wall because we need it from the threats we are facing, this caravan and others to follow and i would put daca on the table. 700,000 young people who came on the average age of 6 that has no place to go, daca program, if i were the president, i want two years of wall funding and i will give legal status to daca recipients, that's good deal for the country. maria: joining me right now fox news strategic analyst general jack keane, thank you so much for joining us. your reaction to all of this. will the president get the money? >> well, i don't know because i'm not good at testing the temperature, you know, the congress of the united states. fundamentally the wall is necessary. take the politics out of it, the border and customs people have been telling us for years,
600 miles of border security right now in terms of some kind of fencing and as we have seen in recent television exposures, some of that is inadequate. so we have to fix that and we have to build about 800 more miles of fencing or wall to provide degree of security. we have about 2,500 miles of border, we will not build it in all places but we need in certain places, funnel people in other place where is the border control and customs people can be to deal with. it is fundamentally a sovereignty issue, maria. i think the president -- the sprint of the argument is on his side given what we have seen in the last few weeks with people coming by the thousands even though most of them are motivated in terms of economic opportunity, some of them are motivated because they are passing drugs and they are criminals but the overall of
majority just want a better life, yes, we've got that but there are other people that are standing in line by the thousands in front of them and they have to get behind that line and we have to get some kind of control. maria: important meeting today because the president has talked about striking deals with democrats on infrastructure but they have been pretty -- they have been saying we will not give you more money beyond 1.3 billion, it's interesting to see -- early test of his ability to work with the democrats on anything, but let's get to defense budget because this is something i know you care about so much, the president has told defense secretary jim mattis to submit 700 billion-dollar proposal for fiscal 2020, i spoke with majority leader kevin mccarthy and weighed on the border funding battle as well as defense spending. maria: is this all about getting the president's money for border wall? >> we need a border stronger, strong especially with the caravan and others, in the house
version we have 5 billion, the senate has 1.6 and what the president is saying, i want a deal. schumer has a process but he will have schumer come in. nancy pelosi is in a different position, battle to become speaker, you have to have 218 votes on the floor. that's january but we have to get this all done in the next two weeks, you know the type of new members she has coming in, much more socialist, progressive, they don't go to her office to visit her, they go to office to join in the protest, so she has a challenge that she doesn't want to vote for anything. maria: she doesn't want anything done. she wants to be speaker. >> exactly. maria: there you go, she doesn't want to vote for anything, she wants to be speaker, she will not do anything to rock the boat on speakership but defense budget is basically funded, what's your take on 2020? >> this is a huge thing that the president has done because the director of omb mulvaney tasked
every single department in our government to take up 5% haircut to include defense which would stop trump build-up and what has happened here the chairmans of the house and senate armed services committee and secretary of defense jim mattis have met with the president and said, mr. president, if you do that, then trump build-up is going to stop and we will go right back to before you were president. we will increase defense budget which i was on a commission for a year, defense national strategy, looking at this and you need 3 to 5% increase to account for 2% inflation increase to grow the budget. that is where we are. that will be -- that will be argued with the democrats who are going to control the armed services committee. maria: that's even for 2020?
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the coast of japan, there's the map for you on your screen. u.s. marine corps suspended search after refueling plane collided with f-18 hornet jet during training, weapon's system officer in the jet ejected, he survived. the pilot ejected but later pronounced dead. well, cbs board members are reportedly concerned about regal ramifications of the investigation into les moonev sexual misconduct, could expose the networks to more legal liability, some are calling for probe into the source to have leaks, amid all of this, folks, cbs are holding annual meeting today, protestors expected outside to deny les moonves payout.
songs from the prestreaming era, one song reings supreme. ♪ >> most e -- streamed song, popularity after movie that came out last month which was a huge hit by the way, box office here, here is the rest of top 5, number 5 take on me by aha, remember that one, guns n roses, narvana, has been played more than 1 and a half billion and bohemian rhapsody, 1.60 streams.
maria: i love all of the songs. i will have take on me in my head. dagen: aha. november rain, bottom 5 songs ever recorded. welcome to the jungle, paradise. maria: where was that? >> exactly. maria: take a break, finner things, why more people are investing in fine art, see what we have to show you next up. [ t] [ client ] - hey maya. hey! you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do.
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more and more are turn to go fine art as way to invest their money according to 2017 night frank luxury investment index art was the most popular luxury investment ahead of assets like wine, coins and jewelry, michael, good to see you, thank you so much for joining us. >> thank you. maria: tell us what's been happening over the last couple of years in number of billionaires investing in art? >> more billionaires created than ever before, throughout asia, china, india, places like malaysia, philippines which didn't have many billionaires, they are building their own museums, pushing up the prices, we will continue to see blue chip prices go through the roof because that's what they want for the walls of museums, so we are seeing the supply go down and demand go up. maria: what kind of art are they most interested in in.
>> museum, picasso, mone, once we see those go up, there's nothing stopping them. >> de vinci or picasso? >> now we are seeing drastic increase in museum attendance, more people are studying art history than ever before, if you look, 2.5 million visitors, last year barely shy of 10 million visitors. maria: wow. >> most major museums are seeing that. as a result we are seeing museums throughout the world, billionaire collectors throughout the world collecting the same thing. maria: i love this story. i want to ask you about mystery in art world, last year we saw the most expensive art sale on
record, you came on the show to discuss it, bought by saudi arabian crown prince mohamed bin salman, now master piece has not been seen, scholars are worried about where it is, where is this painting, where do you think? >> at 250 million-dollar that had armed guards and escorts, probably as safe as president trump has ever been. it's not uncommon in the part of the world for buyers to hang something in the living room and enjoy it and then share it with the world, also because they are building beautiful new museum that now opened. maria: in saudi. >> and they are building more museums throughout the region, they may be looking to make more acquisitions before they show everything. the idea that one
maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 11th. your top stories right now, 7:0. stocks are rallying this morning, extending gains of yesterday. futures indicating a big market day with the dow industrials up 180 points, that's three-quarters of 1%. s&p is up two-thirds of a percent, 17 points higher and the nasdaq is up almost 1%, 60 points higher right now after the wild session yesterday. markets plummeted usual initially and then climbed from the low toss end the day in positive territory. the dow was down better than 500 points after theresa may delayed the vote on the deal to leave the european union.
her spokesperson today is saying that the vote will take place before january 21st. markets ended stronger and are continuing the rally today. global markets are higher. fq100 up 92 points, the dax index in germany up 200 points, that's almost 2% higher in germany. in asia overnight markets little changed as you can see, fractional moves across the board. trade talks are moving forward. this is one reason the market has a firmer tone as well. the u.s. and china held a new round of negotiations last night. we will tell you about the phone call that happened on that story coming up. and then google's turn on the hot seat today, ceo sundar pichai is headed to capital hill to testify. fox business will bring you that live at 10:00 a.m. eastern. we'll take a look at what to expect coming you up. on the short list, president trump among the final candidates
on the magazine's person of the year. we'll take a look at the other names on the list later this hour. steph curry going viral, not for his play on the basketball court. his comments landing him in hot water. those stories coming up this tuesday morning. joining me to break is down, dagen mcdowell, lindsey bell and beyond sport global ambassador, john layfield. >> i don't know what stephan curry is smoking, he thinks the moon landing is fake. maria: he doesn't believe it? >> there's a conspiracy theory that it was filmed for the government. apparently he doesn't. i don't know if he was joking or not. the golden state warriors are saying please, anything but this talk. dagen: we've got chem trail series and flat earth ideas that i can sell him if he's --
>> kyrie irving said we do have a flat earth. so you have that. dagen: people laugh at the chem trails and the flat earth. but they're out there. maria: president trump is looking for his new chief of of staff. mark meadows among the names really coming to the top of the list. we've got a market that is rallying this morning. earnings keep beating estimates. what else are you watching? dagen: what are you watching? >> i think the livingest risk to the market right now is the trade spat. the sooner we get this resolved, the sooner we can resume daily operations of businesses across the globe, really. maria: there was a phone call tonight with steven mnuchin and his counter part that we will talk about coming up. dagen: i've said this before, when lindsey was here. i think business owners, operators, ceos, are getting to the point where they won't make any investment decisions for the next two years, waiting for the next presidential election. that's the danger. maria: and cap spending. dagen: if it looks like you have a white house in chaos that
can't get the messaging straight, they p can't get any trade deals done beyond here, you're looking at a really long slog for the next two years. maria: that's what the democrats would like. there's a big meeting happening today between the president and nancy pelosi and chuck schumer. joining the conversation this morning, jim jordan is with us on the day that sundar pichai testifies in front of his committee. michigan congresswoman and house energy and commerce committee member debbie dingell is here. greg brown is also joining us and former british parliament member, john brown joins us as well as the host of "varney and co.," stuart varney ways in as well. we kick it off this hour with this top story, it was a wild day on wall street yesterday. it's looking good today. futures indicate a higher opening to the tune of 200 points at the start of trading this morning after a volatile session yesterday. the major indices closed in the green yesterday but that was
really just part of the story. they bounced back from early losses which were sparked by escalating fears over the fate of u.s., china trade and what happened in the u.k. the dow slid to session lows, about 11:00 a.m., after british prime minister theresa may announced the delay of the vote on the u.k.'s exit from the european union. from that point on, it was a climb to positive territory. her spokesperson today this morning says that that vote to leave the e.u. will take place before january 21st. joining us right now is oppenheimer funds chief investment officer, christian mamone. great to see you this morning. >> pleasure to be here. maria: how are you handling the volatility? >> it's not pleasant. it's not fun. it's part of the market. i think what we need to focus on is the underlying economic strength, economy continues to do well, rates are relatively low. so i think we are still looking for a positive outcome in the long run. maria: would you buy stocks or do you want to ?
>> a absolutely. i think cash is a good alternative. if you have a long-term -- if you want to retire, 2%, 3% doesn't get you there. you have to take risk and earn returns in the long run and i think equities are still very good value in that context. dagen: how much of the volatility that you've seen recently is do you think can be attributed to the reduction, the $50 billion a month reduction in the fed's balance sheet, now below $4 trillion. you had some serious liquid at this and trading problems in the markets last week where people, you had those exchange traded funds, bond etfs where the actual trading price was below the net asset value which isn't supposed to happen, which tells you the investors didn't really know what the bonds in the portfolios were worth. how much of that is contributing to the overall market swing. >> the balance sheet reduction at the fed is clearly a factor in the market, reducing liquid at this in the market is an issue. i think volatility causes etf
prices to be away from what they net asset value is all the time. i don't read too much into that. but the fed, if it continues to tighten or if it continues down the path of reducing its balance sheet in a very aggressive way, i think that will have a negative consequence in the market. having said that, we believe the fed will stop sometime in first half of 2019, because the economy would have slowed down and the inflationary pressures they're worried about won't manifest themselves. maybe one or two times tightening and the fed stops. so if you step back, the two issues driving the market, the fed, tightening by the fed and trade. i think we're on the verge of resolving the fed issue. the trade issue is an open political issue that somebody can solve that problem tomorrow. maria: there was a phone call last tightlast night, talking aw round of trade caulks. steven mnuchin and robert
lighthizer reportedly discussed agriculture purchases, changes to china's economic policies, coming you amid heightened tensions over the arrest of huawei's cfo. she's waiting to see if she will be released on bail. that decision could come today whavment are the markets -- what are the markets expecting here, in terms of looking at recent developments from the cfo getting arrested to this argentina meeting, what's priced into the market? >> i think the market is still expecting trade issues to continue for a reasonably long period of time. and i think the driver of that is the fact that u.s. economic strength gives the trump administration the flexibility to continue this path. however, by the middle of next year when the u.s. economy is kind of back to 2%, unless the trump administration wants to take the risk of the economy slowing down even further, i think they will be forced into a situation to make some sort of compromise. so i think the trade conflict
continues for a bit longer but i think even that will get resolved middle of next year. maria: is that beginning to get priced into the market, a slowdown, is that what investment participants believe, 2% next year this time. >> i think august and september we were talking about sustained growth rate, higher inflation. i think all of that has been flushed out in the market by october, november. >> tech has been a major area under pressure because of all the trade issues. but you saw yesterday in the comeback, it was led by apple, it was led by the tech sector, led by the semiconductors, up 2%, 3% across the board, and you're seeing that actually this morning, the nasdaq is leading. you're seeing some of the semis do well again today. do you think that bodes well? can these stocks carry us into the end of the year, maybe give us that santa rally? >> i think if there is going to be a santa rally, it will involve tech in a big way. there's no doubt about that. and i think valuations in tech have improved quite
substantially. they have had a significant correction. i think for the long run, we continue to believe that a trend growth rate where growth will be around 2%, tech companies that have been delivering significantly better growth rate topline, profitability growth will lead the rally. it will never been about value. it will be about growth and tech companies if the rally continues as we expect. >> we have consumer confidence at an 18 year high. we have unemployment at a 50 year low. we have wages that are up. looks like we'll have a good christmas retail season. the question is what happens next. do you think this is the last big you're rabig thing before wk to 2% growth. >> i think the economy is already slowing down. the consumption part was robust. what we needed was capital spending. that ticked up in the first half. subsequent to that, it's been slowing down. i think that's the part that is missing and that is what ails the global economy, the desire to invest on business' part is just not there.
things like trade issue make it even less so. and i think that's why we need to resolve it. >> you didn't mention brexit at all. brexit yesterday, the market dipped significantly, came back later because what could or could not happen. does brexit happen into this in a big way next year? >> brexit is a gift that keeps on giving, unfortunately. the likelihood that they will get a deal that everyone would like is basically zero. so we will have to reach some sort of compromise, it's political posturing on all sides. at the end of the day, before middle of next year n. have to find a solution. dagen: the united states has been the stronger of the global economies broadly speaking. you've got germany is now contracting, japan contracting. can businesses here in the united states up capital spending, how does the rest of the world impact what happens here at home? does that make sense? i know we don't operate in a vacuum. but can you see an uptick in capital spending if the rest of the world doesn't look so great? >> well, so i think that's a
fair point. if emerging markets were accelerating and europe was accelerating, i think the desire to invest to support those markets would be higher. u.s. has been the fastest growing market for quite some time. at least the relative to trend has been the fastest growing market. with that, if the investment didn't come through, the likelihood it will come through and the u.s. economy slows down to 2% is less likely. maria: do you want to buy stock or allocate money to fixed income? >> i want to buy stocks. i think stocks are good for the long run. they have cheap valuation. the economy is doing quite well and markets are going to go up over the next two, three years. maria: it's good to see you. thank you so much. coming up, google is on the hot seat today, find out what lawmakers want to know as google's ceo sa sundar pichai ts to capitol hill today. time's person of the year that, person will be revea reed this g
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maria: welcome back. congress is getting ready to grill google's ceo sundar pichai today about the company's data collection, the alleged political bias. cheryl casone has the details. cheryl: and a lot more, maria. he is expected to tackle all of these allegations today. he will say i lead the company without political bias and work to ensure our products continue to operate that way. to do otherwise would go against our core principles and our business interest. lawmakers are expected to question him about google's plan
to build a sens censored search engine in china. his appearance comes one day after google announced it is shutting down its social met network, google plus, earlier than anticipated because of a privacy flaw. they say the glitch exposed the personal information of 52 million users in november. this is the second time in two months that google disclosed the existence of a problem that enabled unauthorized access to plus profiles. the second one, a lot larger than the first, we should add carlos ghosn is facing more time in a japanese jail. a decision by a tokyo court means the former nissan chairman will remain in custody until at least december 20th with no option for bail. ghosn was indicted yesterday for allegedly filing false financial reports that understated his pay by about $44 million. prosecutors also laying out new suspicions that he underreported
$36 million in income between 2016 and this year. ghosn denied any wrong-doing in all this. shares of nissan are down 14% this year. he is stale in jail. maria: and you know he's denying all of this and we still haven't heard from him. and they won't allow him to speak to his family. so he's in this jail cell, sitting -- sleeping on a cot, eating porridge, i'm told, and told you can't talk to your lawyer, you can't talk to your family. he could be facing 10 years of jail time and we flow what was going on behind the scenes and underneath all of these malfeasance headlines. that is, he wanted to merge nissan with renault, the french company. the japanese were not happy about it. they don't want to be acquired, one of their jewels, the nissan company, to be acquired by the weaker, financially weaker french company, renault and he as the journal reported the other day, he was about to replace the ceo of nissan who he very conveniently turned on him
in three seconds when he found out that. so i think there's more to this story. it's political it's really a shame to see this and japan calls itself capitalists. dagen: increasingly looks like i think it's fair to raise the question, was he railroaded and by the way, i think it upends confidence in the global economy when maybe investors realize there is no rule of law in japan that if you do business in japan, you're going to get treated differently than in a country like the united states of america. maria: especially if you're talking bouts one of the jewels of japan, and that is the automaker. dagen: absolutely. maria: coming up, nba star steph curry in hot water over his comments about the moon landing. then, the only list that includes meghan markle and robert mueller. we take a look at the candidates for time magazine's person of the year. (toni vo) 'twas the night before christma,
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maria: we are waiting on time magazine's 2018 person of the year. we will find out the name later this morning. lauren simonetti is sharing the potential top 10. lauren: meghan markle and robert mueller and in the same place as well as donald trump and vladimir putin. i'm a little foggy this morning. let's give you the time person of the year short list for 2018. you can see, looking at this list, that in the running are -- show me the list.
jamal khashoggi, he was the saudi journalist that was murdered. donald trump, he took the cover in 2016. he was the winner right after he was elected. this year, donald trump making the short list for his controversial policies including a policy on separated families. families that were affected by his zero tolerance policy that has ended but still kids remain not united with their families. so separated families is an option. vladimir putin of course. he won a landslide vi victory fr another six years back in march. he's on the list for the russian poisoning of the ex-russian spy an tensions with the ukraine. robert mueller makes the list. the march for our lives activists, after the school shooting at stoneman douglas in florida, they make the list. meghan markle, married prince harry, now pregnant with child. we'll see in the next hour who is the time person of the year for 2018. last year, do you guys remember the cover last year, in honor of
the me too movement, it was the silence breakers. you see the popular names, such as ashley judd, the actress and taylor swift but also the woman all the way on the left is a strawberry farmer in texas. so women speaking out against sexual harassment, that was 2017. what do you guys think for 2018. maria: this cover used to be the i-iconic cover that we wanted to know about. i don't know that it has the influence it once did. dagen: it's a pamphlet, not a magazine anymore. my prediction, it won't be meghan markle, the most annoying person walking on planet earth. >why do you think she's the most annoying? dagen: because she's the most annoying person walking on planet earth. can we actually -- she's not the first woman to ever get pregnant, how about that? >> she did marry a royal. maria: she married a. lauren: if they go with meghan markle, there will be throws say
about the cover. maria: why would it be meghan markle? was she really the person of the year? >> christine blasey ford. maria: donald trump. >> you think donald trump again? maria: they probably won't give him two covers. maybe it's vladimir putin. dagen: i think it might be the people of the march. >> we won't have vladimir putin on the cover. maria: doesn't seem right. >> the most influential person in the world, it has to be president trump. he is at the center of almost everything going on. maria: that's what i think too. >> everyone is else on this short list because of donald trump. maria: here's one, elon musk. >> he didn't make the short list. >> the black panther director made the short list. dagen: that would be a great pick. it might sell some of those time pamphlets. maria: how about lady gaga.
>> she's not on the list either. dagen: if she wins an academy award, maybe. >> have you seen the movie? the best movie ever. we should redo the short list, put lady gaga and elon musk. maria: thank you, lauren. coming up, aiding general motors, tesla is thinking about purchasing gm's old plants. of we've got the details on this partnership. stock is up 3% right now on that. and then attacking holiday debt, are you in debt already? find out how to avoid overspending this holiday season, next. ♪ up in the morning, yawning, put them work boots on. ♪ working like hell for the dinner bell, racing back home. ♪ blue collar -- ♪ no doubt about it that boy's country strong. ♪
tuesday, december 11th. the bulls are making a run this morning, take a look. we're at the highs of the morning right here, futures indicate a rally at the start of trading to the tune of 220 points, up 1% on the dow, almost 1% on the s&p and better than 1% on the nasdaq, 75 points higher on the nasdaq. technology stocks helping the major indices stage a comeback yesterday. remember when the dow was down 507 points yesterday? it happened at about 11:15 a.m. only to bounce off of that level and work their way back to finish the day higher. dow industrials ended the day up 35 points, a fractional percentage move. s&p was up 4. the nasdaq up three-quarters of 1%, 51 points higher yesterday. initially stocks were hit as british prime minister theresa may canceled the vote on the u.k.'s exit from the european union. that speech happened at 11:15. that's when the markets bounced at the end of the speech. this morning we're hearing that british police, armed british
police reportedly detained a man inside the parliament grounds. no word on why he was there, why he was detained. this is a developing story. we'll bring it to you. in european trading this morning, we're seeing gains there as well, the cac in paris up 2% and the dax index in germany up almost 2% right now, 204 points higher in germany. small action in the asian markets overnight. fractional moves as you can see across the board. a new round of talks, steven mnuchin and robert lighthizer talked trade with china's vice premier on the phone last night. this is being seen as a positive step in this trade truce. money for the border, he details on today's meeting between president trump and top democrats including nancy pelosi. the dems reporting $1.3 billion to fund the border. then surviving the holidays, how you can save on your holiday spending and keep yourself from sinking into debt. many people still paying off last year's holidays. plus this, nba star steph curry
is in hot water this morning over his comments about the moon landing. we'll tell you about it coming up. first, our top story this half hour, general motors shutdown, the automaker announcing it will close five north american plants and lay off 14,000 workers. but in an interview, elon musk says buying those plants is a possibility. >> would you want to buy some of those plants, those factories, that they're closing down? you're shaking your head yes. >> it's possible we would be interested if they would not use them, that we would take over. maria: joining us now is michigan congresswoman debbie dingle. thank you for joining us. >> good morning. maria: give us your sense of the impact of the gm announcement. i think i saw you quoted the other day that gm is now the least liked company in washington. people are really angry about these layoffs and the cutbacks. can you explain?
>> well, i will say that people's reaction has been in the delegation meeting with michigan delegation that mary barra had, it wasn't me that said that, it was several members on both sides of the aisle that told her she managed to unite everybody in their dislike and frustration. look, this is a serious time. i've been warning my colleagues here for a year that this is a cyclical industry and you were going to see a softening at some point. you're also seeing a transformation of the auto industry. i had some pretty strong feelings that week, still do, because i think people were not expecting these announcements the way that they were handled, upset people, and clearly -- look, i'm a car girl. i'm proud of it. it's where i come from. i want to keep manufacturing in this country. i'm tired of it going overseas. a lot of people are concerned with what we need to do and what the government needs to do to
help keep manufacturing in the u.s. dagen: congresswoman, it's dagen mcdowell. on that note with the renegotiated nafta, it will be up to congress to pass it. it is designed to keep jobs here in the united states, particularly auto jobs. on that note, are you planning to vote in favor of it? >> i've not made a decision. i have talked to ambassador lighthizer multiple times. i've made it very clear -- we haven't seen the details of the bill on capitol hill. he knows how strongly i feel that i am not going to vote for a bill that keeps letting general motors move production. they announced in july they were taking the blazer there. i sent him a tape that i was given by some people, a ground-breaking in mexico just last week on a new plant. so i want to make sure -- we're going to have to make sure that the legislation will keep jobs here. there are a number -- there are issues that we have with the bill that we're hearing about it. i know this behigh white house i
will support it. if i can keep jobs in the united states of america i'll support it. i'm not there yet. >> gm needed a bailout. it seems like they're running the business profitably. politicians don't like the fact they're running this profitably. it seems this is flying in the base of the free markets, exactly opposite of what america stands for with you guys interfering in a private business. >> i don't believe in government interfering with private business. i know there are people out there saying that we're interfering in their production plants. but we do have a lot of questions. on the same day that general motors made that announcement, ford motor company called me. i talked to them all of the time. by the way, so does the japanese government talk to their people, the chinese government. ford took a shift out of a plant, flat rock, where they produced the mustang. you didn't hear about it publicly for several days. they talked to every employee that was going to be impacted by
that shift change and they're finding other places for them to work in the immediate area. so even the way that they announced it. they've got to make tough decisions. they've got to transform them ts -- transform themselves. >> are you sure you want to quote a chinese government on how to handle business. >> i'm not quoteing the chinese government. >> you just did. >> i said i don't want it built in china. i don't want it built and i said all of those governments support -- if an american company goes to china, they have to invest with a chinese partner there. our government needs to support our american companies so they locate jobs here and we create jobs here in america. maria: you sound like president trump. let me ask you -- >> well , i have said i will work with anybody, if i'm going to help the american worker here. maria: that's what the american people want to hear. let me ask your thought on trades and tariffs. what is the effect of the steel
and aluminum tariffs on your home state of michigan? we worry and there's a lot of worry that the economy is slowing down as a result of these higher costs. >> one of my problems with the way that president trump has done his trade policy is that you're not really sure what it is. businesses need consistency. and that's one of the things that we don't have. we have too much chaos. obviously these aluminum and steel tariffs are having an impact. i've been talking to the companies. i've been talking to the supplier industry. i've been talking to a lot of people, on a regular basis. i know they know that we've got to deal with this issue. i am concerned about it. maria: do you want the tariffs to go away? >> i have an empty steel plant that sat on the river of my di trick for 25 -- district for 25 years. i know we don't have a level playing fields. i want a level playing field and consistency. maria: the steelworkers are happy about the steel tariffs. >> they are happy about it are you happy about it? >> i know it's having an impact.
i know there is -- the way it's being done right now is not having a positive impact on the businesses that could potentially impact the workers. i also know that we've got too many empty steel plants and too many empty plants in the country because of our lack of a good, strong, solid -- maria: so it's both, you're talking on both sides of the issue. >> i'm not -- maria: the steelworkers want the steel tariffs. they feel they've got another lease on life because of the steel tariffs. they're happy about it. the companies that are paying the tariffs, the companies that are seeing input costs increase are upset about it. where do you sit? >> you talk to ford motor company or some of the other companies, the same companies that p oppose t.p.p., i might add, the way it's been implemented has been chaotic. if we get a -- maria: what ways has it been implemented? >> it's been chaotic. you don't know what the president's plans are. maria: he's putting tariffs on steel and aluminum imports. >> it hasn't been a consistent
way. businesses need consistency. i think this government needs to support american companies the way the japanese support those companies. we need the to do some things like putting quality standards in there. some of the steel that we've been getting from japan has not been the same quality and we're seeing some damage because of that too. i might also add on the side. >> getting back to and-a-hal nae usmca agreement, the commerce department said the only way they'll back it is if steel and aluminum tariffs are removed from mexico and canada. where do you stand on that issue? >> i probably -- i'm listening to all of the discussion. i'm having discussions with people. i think that is something that we need to take a very serious look at. maria: the bottom line, are you going to vote for usmca? >> i don't know. i call it nafta 2.0. i want people to know that the first nafta really hurt jobs and screwed the american worker and i don't want to put a different title on it. it's nafta 2.0. if it will help the american
worker, if it will stop jobs going to mexico, if i won't see another ground-breaking, i'll vote for it. maria: will it work or not? have you seen it? >> i've not seen the details. i've had multiple discussions with many people. until we see the details and there are things in there that we know will take care of it, -- i'm more likely to vote of it. >> will you read it before you vote on it? >> i am somebody that always read a bill. you can ask myself. there's many a night i stay up. i don't just do this willy-nilly. i want to see jobs stay here. i know those people. those are people that i have seen and worked with for years. i know what that fear and that panic is in that auto worker's heart from what happened in 2018. maria: that's probably why a lot of your constituents voted for trump. >> it is. i'm somebody who two years ago who said president trump could win because democrats did a terrible job of talking to the worker. maria: how is the president
doing now? >> he's got some -- he campaigned in ohio and michigan and said he wouldn't let an auto plant close. well, we just heard we're going to see plant closings. maria: you're going to blame him on the gm shutdown? >> i have said just for the record, i'd work with him. so i'm somebody- maria: are you going to work with him on the border funding? we've got a showdown underway right here. president trump is working with nancy pelosi and chuck schumer later today. they're trying to strike a deal on border funding. the democrat leaders say they will offer $1.3 billion to fund the wall. that's a stark difference from the $5 billion that the president is requesting. so bottom line here, do you want the wall or not? >> so i wish the world was as crystal clear as you like to see it. i think the wall is a stupid idea and i think it's a symbol of division that we p don't need. i do think that we need to keep our borders safe on both sides. people forget about the border i live on. i don't think compromise is a
dirty word. so let's see what happens. maria: you said it's a stupid idea. then what's your security net you said it was a stupid idea. >> we need more border crossings, need to use more electronics. there are documented studies that say we can keep the borders safer with a lot more advanced technology. i think all the wall is, it's a symbol of division or that people are going to be able to get around anyway. i do think we need to invest in keeping our border secure. the wall has become the symbol of many things, of division, that many people say isn't going to work. we do have technology and we need more border agents to help keep our borders safe. national security matters. i'm tired of people trying to say that people like the democrats don't want to keep our nation safe. every last one of us, number one, number one, keeping our nation safe matters. maria: so build a wall. >> i have not -- i have said the
compromise isn't a dirty word. read the studies. there are several. i've stayed up at night reading them, saying there are ways to keep the nation safer than building a wall. maria: you've got a lot of good ideas. we hope you come back soon. >> thank you. maria: thanks so much. coming up, defense nominating the seahawks beating the vikings on monday night football. we've got highlights coming up. one of the nba's brightest stars with pretty out-of-the-world thinking, find out what steph curry those say about the moon landing, that's next. ♪ girls all the want. ♪ want to have fun, girls. ♪ want to have -- they just want to --
maria: welcome back. a controversial play helps the seahawks win again. jared max with all the monday night football highlights. hey, jared. >> good morning, maria. should there have been a 15-yard penalty, that's the question that remains. fourth quarter, vikings trail the he seahawks, 6-0. bobby wagner uses the shoulders of a teammate to help him block the field goal. should have been a 15-yard penalty. the vikings denied. after that, seahawks score a touchdown. vikings lose 21-7. seattle won four straight. the next time steph curry meets with reporters, the pressing
questions likely won't be about what he did last night on the court but rather something he said in a podcast. he scored 38 last night, 7 of 14 from 3-point range. the warriors win by 8 against minnesota. what will steph curry get asked about? this comment, made on the podcast, winging it. >> have we ever been to the moon? >> no. >> what? >> sorry. >> ever been to the move? nasa says we would love for mr. curry to tour the lunar lab in houston. we have hundreds of pounds of moon rock stored there. he can see what we did 50 years ago. maria, steph curry says we didn't land on the moon. maria: i don't know what to say about that. i mean -- >> you could see footprints on the moon from the astronauts with a telescope. maria: thank you, jared. we want to get to this tweet that the president just posted. president trump is just tweeting on the border wall. here's what he said.
despite the large
caravans that were forming and heading to our country, people have not been able to get through our newly built walls, make diss shift walls and fences or border patrol officers or military. they are staying in mexico or going back to their original countries. i.c.e., border patrol and the military have done a fantastic job of secureing the southern border, writes the president. he says a great wall would be an easier and less expensive solution. we have built large new sections and fullly renovated others. the democrats, however, for strictly political reasons, because they have been pulled so far left, do not want border security. they want open borders for anyone to come in. this brings large scale crime and disease. our southern border is now secure and will remain that way. the president writes i look forward to my meeting with chuck schumer and nancy pelosi. in 2006, democrats voted for a wall and they were right to do so. today, they no longer want border security. they will fight it at all cost and nancy must get votes for
speaker. but the wall will get built. the president goes on to say people do not yet realize how much of the wall including really effective renovation has already been built.
if the democrats do not give us the votes to secure our country, the military will bring the remaining sections of the wall. they know how important it is. says the president. that was a long tweet. we'll be right back. (vo) 'twas the night before christmas and all through the house not a creature was stirring, but everywhere else... there are stores open late for shopping and fun
maria: it is the most wonderful time of the year but also the most expensive. 15% of americans are still paying off last year's holiday debt which averaged $1,054. p joining us right now is ramsey solutions financial expert and author of the upcoming work, everyday millionaires, hogan. thanks so much for joining us. >> thank you. maria: we want to buy presents this holiday. what are some of the ways we can save and not get too far into
debt, chris? >> maria, the most important thing is to remain in control. you know, you don't want to let the holidays make you crazy. so stay in control. i've got four tips for people. number one, tally up what you've spent so far. a lot of people have been shopping throughout the year for christmas. so be aware of what you've already bought, what you've already spent. i really want you to stay he focused and stick to your budget. this is where you assign a dollar amount. the next tip is use cash. cash helps you remain in control. it helps you to understand your limits. if you're going to spend $100 on your brother for christmas, when that $100 is gone, you stop. the next tip is avoid the store credit cards. these things are sneaky, maria, and they're a thief. it's amazing that they'll offer 10% off that day, but charge you 24% every other day. so avoid that. and then finally, 22% of americans buy gifts for themselves when they're shopping
for others. so don't buy for yourself every time you go out shopping. maria: i can't not do that. >> i know. maria: i always buy myself a gift. dagen: if your perfect voice, i want you to sing the following line, you're a mean one, mr. grinch. you're grinching on the holiday, chris. >> i am not doing that. no, i'm not singing. but here's the thing. credit card debt is a grinch. credit card debt is the thing that will steal your joy and it will cause you to be trying to pay off christmas for two to three holidays from now. so just take a deep breath and understand the real reason for the season. it's about family. it's about friends. it's not about how much you spend. it's not how much you buy for yourself. so let's go into this holiday with clarity. be aware, remain in control, and don't bring debt into your life. maria: all right. you can't blame us for trying. you have an incredible voice, chris. >> well, maybe the next time i'm in studio i'll sing.
maria: can't get enough of your love, baby. thank you, chris hogan. still ahead on google on the hot seat, sundar pichai going on the hot seat before congress miss morning. details, "mornings with maria," stay with us. half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. our new, hot, fresh breakfast will get you the readiest. holiday inn express. book now for at least 20% off during our annual sale.
. maria: good tuesday morning thanks so smoifrp for joining us. i'm maria bartiromo. tuesday, december 11 your top stories right now 8:00 a.m. on rooeks, on the button, stocks and understanding gains this morning check out rally under way dow industrials expected up 200 plus points this morning at the open that is one percent higher s&p 500 up almost 1%, 22 points higher nasdaq up 1.1%, 76 points higher right now, as we speak, after a wild session yesterday, markets bounce order of the lows, and actually ended the day in positive territory, but man was it hard getting there dow industrials said and done was up 34 points, fractional gains percentage wise s&p up 4 points nasdaq up 51 points
three-quarters of a percent higher had been down sharply dow better than 500 points at low, after british prime minister theresa may annoyance she had was delaying voted on deal to exit the european union, then, markets starting at clawing back up the spokesperson says the vote will take place before january 2 globally markets higher to look at european indices ft 00 1/2% higher cac quarante in paris 92 points higher dax also up almost 2%, 202 points higher in germany in asia overnight markets little changed, as you can see, there, meanwhile, one reason for bounce this morning trade talks moving forward with china, u.s.-china held a round of negotiations last tonight on the phone, we will have the very latest on what went on. coming together, president trump is set to meet with house minority leader nancy pelosi and senate minority leader chuck schumer over the
funding for the border wall top on a agenda democrats ready to affair 1.3 billion for the wall short of 5-billion-dollar request. >> about google turn, sundar pichai to expect a till fox business will bring that live 10:00 a.m. earn looking at what to expect when i speak with congressman jim jordan on judiciary, coming up, delta says no to kittens and puppies. maria: are really? >> details on new emotional support rules, at dealt air lines, awwhow cute that is all those stories coming up to break it down fox business network dagen mcdowell cfra investment strategist lindsey bell, fox news contributor john, great to see you -- >> surprised european markets up after all the brexit talks. >> true rally under way initially markets turned when
she said delaying vote but the end of her speech, the markets started rallying. >> i think markets she figured no confidence vote could have new rfrnld probably best for market. >> new prime minister. >> definitely, hopefully not jeremy correspobyn. >> could be boris johnson. >> rumor got new look to try to become new prime minister. >> wow. >> i think goes to show that the cracks in european union, we discussed at the top of the show you've got, these guys, france going on there, you've got italy, there is a lot of question marks on the -- distance, going forward. maria: sure are. dagen: trade and federal reserve, the federal reserve, seems to have -- contain a step to the side in terms of market worries now trade. as talks get under way, messaging here is critical out of white house we will see how they do that in the next 23450i7b9 days. maria: a lot coming up this morning joining the
conversation house judiciary he committee member hae congressman jim jordan with us this morning with motorola solutions chairman ceo greg browne trying to turn that company around former member of british parliament, and host of "varney & company" stuart varney. >> top story that is the shutdown showdown, president trump is gearing up for a meeting today, with democratic leaders nancy pelosiex and chuck chicschumer to struck detl on er border fund aig head of looming government shutdown blake, good morning to you. reporter: good morning to you here we go begin to president trump wants 5 billion dollars more for border wall democrats are not willing to get anywhere near that number, and there has got to be some sort of compromise by december 21 or else a partially government shutdown would conclude department of homeland security we will will get a better idea later today where things stand as president trump is set to meet this morning with chuck schumer and
nancy pelosi 11:30 here at the white house a series of stweets this morning the president continues to vouch for wall floated a new idea one point writing look forward to meeting with chuck schumer and nancy pelosi, and 2006, democrats voted for a wall, and they were right to do so. he then went on to propose the following:quote if democrats could not give if votes to secure our crown, the military will rebuild the remaining sections of the wall, they know how important it is. that was just snippets of five different tweets he sent out the, in a joint statement ahead of this meeting, chuck schumer and nancy pelosi put the onus on republicans to make sure that there is not a government shutdown, saying in their statement quote, our country cannot afford a trump shut do you mean especially at the time of economic uncertainty, this holiday season the president knows full well that whaul proposal does not have votes to pass house and senate should not be an obstacle to a bipartisan agreement, maria threats about
a government shutdown, nothing new in washington with that and certainly nothing new in tournament trumpcy with that the dynamics this time aarraign is that democrats take control of the house in about three to four weeks' time meaning the moment could be now for the president to get as much as he can, on the border wall. >> all-important points you make blake thank you blake burman joining us at the white house, joining me right now is ohio congressman house judiciary member and freedom caucus member jim jordan good to see you thanks so much for joining me you and mark made owed published op-ed for fox news this morning titled build the wall do would what we sidel said we would do democrats do to the want to bring plantation to extremity positions object immigration they are in other open borders abolishingi sic we have three weeks more than enough time to do what we said my question congressman is can the president get this funding,
with republicans? because it is not just the democrats who are pushing back on this, the republicans refuse to get behind the president's request, this is going on a year congressman. >> yeah no there are republicans the problem chuck schumer senate 60 vote rule there ridiculous,republican votes to board the wall and deal with changes would have to have to address the about caravan. >> what we elected to do in 2016 common sense 5 billion for wall change asylum law to deal kwaifsh issues "catch and release" issue do those things good common sense get them done the problem is chuck schumer, he talks about a shutdown maria. welcome one should the shut down this year guess who did it chuck schumer on short term spending about i am in february when he shut the government down over the weekend, and he said amnesty was more important than funding troops funding the government, so if you are going to talk about shutdown only one who he has done that
thus far is chuck schumer let's do what we said get the thing done that is where the american people are. >> i agree, you are right about that, so happens today, when nancy pelosi, and chuck schumer say to the president look, all we have is 1.3 billion dollars that is it, and we don't want daca attached to this don't want anything else -- >> nancy pelosi trying to get her speaker vote in order right that is not happening until january why going to vote do anything doesn't want to oak to boat before she gets the speakership, right? >> i think we just -- again just do what we said, put the 5 billion on the spending bill tut asylum reform language there have debate with american people say if chuck schumer doesn't wavent to support this really wants a shutdown if democrats don't want common sense things, that is on them, let's after all, excuse me after all they are the only ones who shut government down i think you have to have debate not be afraid of have been the debate let's have it say here are two positions america people you
decide. >> you think republicans will be there. >> i do, i hope so -- i think i know the president is there the freedom caucus is there i hope we stand firm on that. >> freedom caucus falling for two atms to funding bill funding border wall and ending "catch and release" tell us about this most don't understand when illegal comes here, the u.s. catches them, they have to release them then get a court date in the calendar, and they may or may not show up then they are in country illegally, probably taking others' jobs creating a lot of expense for the u.s. >> jea it is even worse than that dhsies will tell you 85% individuals who show up at border claim asylum, 85% of them are not legitimize asly aluminum seekers we need to deal right away not let them get in the country release them they never show up for the hearing let's have hearing right away president make working on making sure they
stay in mexico before they come in country then have hearing. >> if legitimate we want them in the country we want to vet them check them out again good common sense to contrary to where democrats are, welcome 2016 leader of their party said she wanted a boulderless hemisphere have to are this ones said should he want to abolish ice two choices seems to us our position is pretty darn common sense, let's do the common sense thing, let's stand firm for it actually, i think our voters appreciate that the american people pressure that, when you stand firm and do if right thing. maria: i agree with that i got to get to google first your take on the jim comey testimony he wade i don't know i don't remember i don't recall 245 times what are you going to get done in new congress number one because now you've got a different position in the new congress, and what happens when the dploo dplaths shut this down you know that is coming. >> will be harder in new
congress we still have this congress we need rod rosenstein to testify now 12 week since he talked to subordinates about wearing a wire to record president talking about invoking 25th amendment. >> how do you -- you know that is not going to a happen in paul ryan had a shot let it go, okay? >> i think might still happen mark immediatous matt gaetz an i continuing to push for that it should happen we need him to answer those questions as far as jim comey goes he didn't know tiers thing about christopher steele guy whose work product the basis for gettingfiesa, to spy on trump campaign didn't know he was working with bruce ohr. >> come on is there ever going to be any accountability here for those who tried to put their finger on the scale in 2061 election we all know what went on. >> we are pushing for it but i will say tell you this, comey has been fired deputy director amy mccabe fired jim baker chief council fbi, lisa sigell
demoted, peter strzok endometrialed fires top people i never have seen that happen before mccabe my face criminal couple liability as well we will see how this shakes out you we can't prosecute anyone only get answers for american people what we're trying to do. maria: good point you make without the republicans and you and your colleagues, pushing all of this, devin nunez role in the house we would not know any of this google on hot seat ceo sundar pao pichai to appear before your -- committee. >> potential political bias what do you want to hear. >> remember 3.5 billion searches a day. and if a company like google is biased limiting certain points of view, that is a big problem. so that is the issue that is the fundamental issue that we need to explore and find out are they really limiting point of views seems they are
typically conservative points of view a company this much clout influence power overflow of information potentially impact it can have on tolerable process that is pretty darn series that is going to be focus of the hearing, is there bias there sure looks like it, let's explore that if you are not willing to change things, and actually be a neutral platform like you portray yourself to be the congress may have to take some action. >> you said 3.5 billion searches a day? >> is that what you said. >> 3.5 billion searches a day. >> google has 90% market share before you go congressman do you want to see regulation new regulation on these companies, these social media companies. jeed companies. >> i think it depends what we learn but what we want neutrality law gives them all kinds of protections in a neutral social media platform a neutral platform if not you may have to treat them like a newspaper may also look at do we have to break these companies up. >> hmm we will be watching that congressman good to see
you thanks so much jim jordan able there stay with us for fbn live coverage at 10:00 a.m. eastern we take you there live negotiations details of the american and chinese officials kick off a fresh round of talks last night, stay with us. ♪ look, if you're not the lead dog, the scenery never changes. that's why this is the view for every other full-size pickup. and this year, it's déjà vu all over again. 'cuz only the ford f-150 gives you best-in-class torque, best-in-class payload . . . and you got it, baby . . . best-in-class towing. this is the big dog! this is the ford f-150. it doesn't just raise the bar, pal. it is the bar. and now, you can get a ford f-150 with zero percent financing for 72 months. only at your ford dealer. financing for 72 months.
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maria: welcome back tesla announcing planning to open nearly a dozen new dealerships in u.s. next year cheryl casone with details. cheryl: yeah change of direction here tesla ceo elon musk tweeds out we are opening a lot of tesla service centers next year, including knoxville will post upcoming cities opening this week tesla moving to expand retail presence focusing on locations inside mallsing shoppers can check out cars in person, musk worn in south africa adding tesla could open first store in south africa by end of 2019 shares of tesla higher ahead of opening bell up modern 1 1/2% right now.
>> delta making changes to animal policy airline banning all emotional support animals, on flights that are longer than 8 hours, also prohibiting all animals under four months old puppies kittens no matter how long flight in effect december 18, delta says changes made because of spree of in incidents involving animals,taking a look at the stock delta up slightly, year-to-date. okay. the trump administration wants to deliver revenue to postal service proposing selling access to your mailbox to private companies it is illegal for anyone except postal service carriers to deliver makes them valuable assets postal service could generator significant revenue selling mailbox access to companies like fedex ups -- reported net loss 3.9 billion in fiscal year that ended
september. >> malone crocs teaming um post mallen x-crocks barbed wire coloradoing on sale 2 pm eastern time 60 bucks designed mimics of tattoos first collaboration between them and rapper sold out less than day when that debuted last night taking a look at shares of crocs nearly doubled so far this year. >> maybe somebody has something to say about delta but -- headlines. >> kittens. >> how do you think kittens are a problem but not the 300 pound sweaty guy sitting next to me with shoes off -- the armrest down, eating cheetos at the same time, and rubbing the cheeto residue all over the edge of my seat? he is fine, so puppies and kittens really stink? >> ridiculous. >> it is about money because
when you put bring an animals on a plane, put them under seat in a carrier they charge you i think 250 dollars round trip for a puppy or kitten any small dog, that is why. it is about revenue. maria: i would like answers from delta what is wrong with puppies kittens. >> a horrible decision. maria: terrible. >> get my cat a fake id -- >> you can -- puts them in a crate not lap sweaty guy with shoes off a-okay. >> why do i want bashed barbed wire on shoes. >> deals as u.s. chinese officials discuss changes to beijing's economic policies wait till you hear this stay with us for exclusive reaction from motorola ceo greg brown. >> best places to work the company that took the top spot coming up stay with us.
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maria: welcome back china trade negotiations, the u.s. and china kicked off a new round of trade talks last night, treasury secretary steven mnuchin u.s. trade representative robert lighthizer and chinese count parts talked on phone president trump tweeted about the talks, moments ago he says this, very pruf conversations going on with china productive watch for important announcements joining me a gentleman whose company operated in china a long time fox business exclusive motorola chairman ceo greg brown thank you so much for joining us, you know it is interesting, because motorola was one of the first
companies, in china, and you've got a story here nixon on a motorola phone you had a huawei executive arrested years ago i want you to take us back to how motorola has operated in china, and what your history is with china. >> sure, so as you mentioned president nixon in 1972 when he first visits the country, spoke on a motorola provider satellite phone subsequently bob galvin led a delegation in 1986 following year motorola one of the very first u.s. multiare nationals in the country. >> things boomed was great china asended into wto if you think with motorola first in china built largest at the time contiguous cellular network in china first mobile phone with chinese character first chinese mobile phone with gps. >> did you have to transfer
all technology to chinese. >> not at that point. >> then what happened. >> things progressed, and i think the environment changed started to change a decade ago well publicized huawei was in motorola engineer, who was arrested at o'hare airport with a one-way ticket to china, in cash 1,000 from drugs huawei was stealing trade secrets and confidential files from motorola with chinese nationals that were our employees subsequently settled. >> you snow for a fact that china was unifying huawei as a tool, to steal secrets from motorola. >> huawei definitely stole trade secrets from huawei and we sued maria but subsequently settled. >> continue. >> then you fast forward to now i think a very different environment market access is tough, if you want compete in
china you have to usually with not often turn over intellectual property to local alliance they use indigenous standards pdscma, in our world called plif digital chucking. >> we made the decision i made the decision about 8 years ago to essentially get out of china. in the sense of no manufacturing, no r and d i think it is a good market about to sifsht is okay. it to receiver it is okay vast we will do so on terms that are more conducive to us at height of motorola in china 15 years ago we were over three billion in revenue 15,000 people, today we are 170 million, of revenue with 170 people, so it is a different game. we are competing we are moving forward with mission critical communications, video surveillance analytics, and we want to be and we are the western alternative to
nonchinese electronic content here we are. maria: here we are. you got into this company and completely lifted the growth you are coming off a sixth quarter impressive results this niche that you have been able to create in this space tell me how it is going you have acquired seven companies spent 3 billion dollars on deals since 2015 most software programs where does growth come from now at company what led this growth over your tenure. >> i think we pivoted more is towards he services software orientation, number two i think we have best employees in the industry strongest team i ever had we have taken advancing of corporate tax reform used that capital for aggressive acquisitions but the interesting thing with us we are not just a radio communications provider anymore, we do the mission critical communications, that are so vital to secure communities, secure the border, protect military, we are also the leader yint
graitsdz software talking calls on headsetss 911 call handling cab dispatch first responders, evidence management you think of the proliferation of video, and we spent a billion dollars, on a leading provider of video surveillance analytics, here is the cool part not just the camera, it is an intelligent edge device with video storage with video management, with machine learning video analytics so now we are a comprehensive mission critical communications video surveillance company and we are booming we have had 8 consecutive quarters organic growth u.s. economy anchor tenant driving growth i think we are very well positioned going forward. >> apparently perfect you've got this great backlog in terms of driving growth next five years. maria: exactly. >> let me ask you about consumer today business spending he we were having a debate early in terms of
business spending are we see capital expenditures up there ways your view of the economy right now are you expecting things to slow down, in the coming couple years. >> we are not expecting it to slow down as we though i 2019, two-thirds of motorola revenue are north america, we are increasing hiring increasing capital spending because we see the growths opportunities that capital location employment i think growth spll in other theatres might be more tempered but at the end of the day given what we do mission critical public safety, it is a need to have, not a nice to have. so i think we have some -- indifference to some international markets we can weather. >> we are just getting the producer price index out ppi up 1/10 of a percent for november expecting it unchanged this idea that input costs are going up for
business a what are you seeing. >> modestly manning managely if we take input costs overlay with china and tariffs we expect tariffs increases in 20198 to 10 million we can moderate it norptsdz into business plan i think the input costs can be managesed managed. >> you are not worried about steel, aluminum tariffs cutting into the strength you have that no, i am no the. >> the way you have turned this company around gave stats the beginning of the interview in terms of revenue number of employees where do you go from here where does the growth come from now? >> well, we are in a huge addressable market surveillance analytics we are four to five 00 million revenue a year. >> big runway. >> huge software revenue 400 million, in command center a
software drafbl market five billion plus market is there brand domains expertise is there i think we have all tools capacity to continue to drive growth. >> chart looks good stock about obviously trading up has been entire last couple years. in terms of are shareholder friendly moves what are you planning in terms of stock buybacks dividend increases. >> i think we have been very disciplined in capital allocation if you think about it so historically in last several years might have ten you are floyd 12 with 1/2 billion share buyback at 58 and change, we have now spent more -- >> three billion, on acquisitions, so we are investing organically, in prioritized r and d with these markets that warrant a fantastic return, and we will be surgical if acquisitions that make sense knew don't need to be in china. >> we don't. >> greg great to see you. >> maria, thanks. >> a congratulations greg, ceo motorola solution we will be
maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 11 your top stories right now 8:35 a.m. on the east coast, markets are extending gains this morning futures indicating solid rally the start of trading this morning, and it is strong, up 276 points right now, for futures, indicated a one percent rally out of the gate this morning, s&p 500 up 30 points, better than % higher, nasdaq up 98 points one and one half% higher on nasdaq right now, similar story in europe we've got gains across the board, take a look at european indices f1 -- f1 up 101 points, better than 2% dax in germany up 228 points, 2.15% higher in germany, action in are asian markets overnight, as you can see, a flat session mixed, president trump, has been tweeting this morning, just tweeted on chief of staff position, he says this, fake
news has its purposely wrong many over 10 are vying for nt wanting the white house chief of staff position why wouldn'ts someone want one of the truly great meaningful jobs in washington please report news correctly says president, thank you. >> plus apple hitting sales with an on older phones in china, the fallout for the company coming up, this morning, apple shares up 1 and a third% the bests of the bess list top large companies to work for that will be of valleyed this morning, "time" magazine announcing person of the year for 2018 we will tell you who time shows that is also coming up this morning, but first top story this half an hour, pushing to save the uk exit deal, prime minister theresa may taking a trip across europe after he post he poeng scheduled vote on britain reefing european union ashley webster has been live in london ashley good morning to you. >> yeah, good morning to you maria supposed to be the day today, the a at a voted on
theresa may's deal instead uk prime minister is off on a frantic round of diplomacy heading from one european capital to the other, hoping to persuade eu leaders to provide concessions to her brexit deal early this morning breakfast with putt prime minister, useful dialogue what that means nobody knows went to berlin to meet with german chancellor angela merkel, there was an embarrassing moment when mrs. may's car showed up to be greeted by angela merkel, she couldn't get out of the car the door was locked -- >> they had to unlock it embarrassing perhaps interesting analogy of her being trapped in her brexit deal right now then later on today she will be heading to brussels to meet with the presidents union council jean-claude junkel spoke to parliament in extrasburg
france says no renegotiating mrs. may's brexit deal take a listen. >> we have achieved is the best possible, it is the only deal possible. no room whatsoever for renegotiation. >> no deal whatsoever, i think that is pretty clear as you can make it we understand, that the whatever deal mrs. may gets slee says it will be voted on back here in thous of parliament before january 21:00 is ticking time running out they have until march 29 to figure something out before uk gets out of the european union, could look more like a hard brexit having said that shots circle around insure job more mps calling for a votes of confidence if her conservative party leader and junior emmy corbyn under pressure to call a vote of "no" confidence in the government that hasn't nt
happened certainly mrs. may under gun doing best to come back from european with something to this point doesn't look like able to achieve very much, maria, back to you. maria: ashley thank you so much we will check back ashley webster in london john browne former member of britain permeat parliament, thanks so much for joining us let me ask you right out your reaction to what mass at anplace 48 hours in london? >> well the most embarrassing situation, that is the world is laughing at british circus, after months of are squander time we have no deal we have the deal that is worse than when we started. it is it looks like a joke but very, very serious. and its is very serious not just for britain and europe, but it is the last section of world trade, with the second largest currency in the world european union if things go bad it is going to be bad for a lot of the world a very
serious situation but reached a sort of laughing stock i get suspicious of prime minister may i thought she was going to beon honest and going for brexit, but i look at this and i ask myself is it just an accident or is it by intent? >> it looking to me now when she comes back with an impossible detail worse than what we started that in a cricketing term she played the ball into the long grass, means when you are losing a match you try to lose the ball so match can't count end up with a draw. >> what are you saying, you are saying she really doesn't in heart of hearts doesn't want to leave eu? to you want with a different prime minister? >> yes, she was by her mitigating a remainer -- in league to play long game
impossible situation, and gradually brexit is renegotiated, negotiated and in fact about back where we started worst off because we within the have a position onboard i feel like a growing majority of conservative members of parliament must tender resignation or be replaced by 19 2 committee in a vote of conservative members, of parliament. i think it is becoming urgent i think she is doing the country great harm, this whole journey to europe to me a laughing matter, and made -- london look ridiculously very, very embarrassing and extremely series so -- >> what is most likely outcome going to happen i heard rumors 48 letters have been gatsdz, gatdz for sometime waiting on no confidence vote to do right this time, are we going to see if we see new prime minister probably conservative party member going to see a hard
brexit or there is a chance we are going to see eat referendum because what you have right now you have articulated not what 17.4 million brits voted for to begin with. >> exactly of course you could get rid of prime minister two ways one a vote of confidence in flow of allows would mean fall of the government probably, looking at the polls jeremy corbyn is next prime minister heaven forbid but neater way much neater way for conservative parliament -- members of parliament, to vote her out as leader of the party, and so still have a conservative leader. and hopefully, if that happened probably likely if it happened would be a pro brexit prime minister, someone like reoe. se mogul javid. >> what impact does this have to run uk economy? >> well it is uncertainty
but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs
that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. maria: welcome back as we have been reporting google ceo sundar pichai to capitol hill questioned by house judiciary committee we heard from jim jordan on xhe joining us to weigh in host of "varney &
company" stuart varney with more right now stu good morning to you. >> maria this is -- he is some one of the world's most powerful people, google knows absolutely everything about you. and so when he appears today, there is obviously questions of privacy. google runs gmail, somebody read my dwgmail i will got a call from from india about a miner medical problem over last couple years caller suggested we can fix this how did that person get that information how somebody read my gmail, my personal gmail. i am not happy about it! that is a gross invasion of my privacy. now the deal is you get gmail for free, free communications, whoop-de-do they can sell that and that information is available to third parties, i don't like it i want to know what they are going to do about it i don't know what you can do about it i am not
happy, when it comes to censoring political views of conservatives when it comes to building a search engine in china subject to censorship surveillance by chinese authorities, i think google has a problem. i think this is a very big deal we may get a hint of what congress might do to the googles of this world later. >> i agree real issues, issues that everybody gets touched by, whether privacy or the censoring of speech, so this is this is important, you think we will see more regulation at some point. >> yes, but i know i don't know what kind of regulation the real competition, i don't see how you get competition for a search gin 80% of the market. >> google has 90%. >> market research stu i know you have a lot more we are coming to you to see the hearing, live, happening at 10:00 a.m. "varney & company" begins top of the hour right after "mornings with maria" so join stuart and his guests
coming up then that is when you will see the hearing. where sundar pichai is to speak 10:00 a.m. best places to work revealing which company took the top spot right after this. ♪ ♪ alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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maria: welcome back apple hit with a sales ban in china, gri willis looking at that what -- a rally this morning gerri. >> big turnaround sentiment off what we saw yesterday here apple shares enjoying bumped up as well after a chinese court ordered iphone make tore stop selling older model iphones including 10, 8, 7 and
6 apple saying quorum quorum effort to ban products another desperate move by a company whose illegal practices are under investigation by regulators significance of this first court decision seeks to curtail iphone sales iphone assembler exempted from this interesting taiwan-based company to companies best places to work with fivaflac. >> -- a comp web site google number two a walkout of employees over issues sexual harassment numbers one on this list costco, they say benefits for workers at costco very good indeed maria, back to you. >> costco best place to work, cost cognitive google t-mobile and aflac thank you great list a short break when we come
back "time" magazine person of the year will discuss who was most flu inflew ensslal in 2018 i went to see bocelli last night i will tell you all about it, stay with us. ♪ i will be the first one to call you baby, baby, if he ain't holing you tight ♪ 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.
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>> welcome back well the list is out "time" make it is official the 2018 person of the year, the guardians journalist who have been tarlgted for their work. there are four covers, one features jamal khashoggi the murdered washington post columnist, another highlights maria a philippine journalist and two arrested a year ago for their reporting on muslims and the final cover shows the staff of a capital gazette their office target of a shooting earlier this year. that is the "time" magazine person of the year.
>> meaningful and it expresses american values. and the value of the first amendment and how journalist to break news -- put their lives on the line. very often if i give kudos to "times" for this and they should be heralded and cherished for their work i've been telling you all about what i went to do last night to italian and bocelli watch this. ♪ ♪ >> awe it was such a memorable night i love andrea bocelli next to me is wife of andrea bocelli
veronica and there's lidia, along with myself and my sister. we talked about andrea bocelli foundation raises money for those underprivileged people thank you to both. it was fun. >> jealous. [laughter] >> incredible. thank you again or for everybody joining us this morning great show "varney & company" stuart take it away. >> wish i had a voice like that. good morning everyone. this is what is called volatility and it still with us. it drives investors absolutely crazy. but since early october stocks have saw from big losses to big gains, the way it is these days. look at this. the dow industrials going straight up when trading begins today. we're looking at a triple digit gain maybe 300 points up. plus, a big gain for tech stocks on the nasdaq as well. these wild swings seems to be headline driven algorithms read and interpret