tv Mornings With Maria Bartiromo FOX Business December 12, 2018 6:00am-9:00am EST
morning, everyone, thank you so much for joining us, i'm maria bartiromo, it is wednesday december 12th, top stories before 6:00 a.m. on the east coast, leadership challenge to report british prime minister theresa may facing no confidence vote today and what it could mean for future of britain's exit from european union, coming up right here, markets are rallying ahead of that, dow industrials up almost 200 points higher and nasdaq better than 1% this morning, very strong firm tone on stocks. after topping session in wall street, take a look, dow industrials gave up 53 points, little change but the dow swing 5 70 points between low and high of the day, 54-decline, look
where it was yesterday, wild one, another volatile session with the dow industrials coming off of the lows by the close. in europe this morning gains across the board, in ftse 70 points higher, dax index in germany better than 1% as you can see, 107 points higher in germany. in asia overnight, markets posting gains, nikkei average up better than 2% overnight. rising china tensions to report, canadian court granting huawei cfo bail but canadian diplomat in beijing. president trump said he would step in for huawei if needed. what it means for the truce. did you see it? it was over the border wall, president trump doubled down on calls to shut down the government next week if he does not get the $5 billion to build the wall.
>> i am proud to shut down the government for border security, chuck, because the people of the country don't want criminals and people that have lots of problems and drugs pouring into the country. maria: it was fiery all right, fallout later this hour. 10-cent music, the company raised more than a billion dollars in ipo but pricing at the bottom of the range in the face of really wild volatile markets, we will get into all of that. the stories coming up this morning and joining me to break it all down fox business network dagen mcdowell, wall street journal economic editor jon hilsenrath and benchmark managing partner kevin kelly. great to see everybody this morning. >> 10-cent, pretty interesting ipo, they are coming at bottom of the range, trading 43 times on competitors, so we will see how it ends occupy trading because it's been tough for streaming services including
spotify, spotify down 30% from peak. maria: this is a streaming story not a ipo story? >> 10-cent owns the company, it's coming valuation at $21.3 billion, 90% of revenue from live streaming, different from spotify model. earnings have come down significantly. maria: meanwhile markets volatile as ever. jon: markets are trying -- dagen: you're here for the fed. that's another 10-pole worry. jon: i forgot that one. they are raising interest rates.
maria: didn't put that in headlines. dagen: exactly. jon: we had the president again saying it would be mistake for jarome powell to raise interest rates and i think he's going to do. powell earns stripes when he defies the president. the 19th. maria: baked into the cake in terms of rate hike. white house deputy hogan is hear, andy barr joining us, former fdic chairman along with philadelphia reserve president, charles is here, he will give us insight on the fed, plus judge andrew napolitano. don't miss a moment, big 3 hours coming up. kick it off with the story, chaos in uk, lawmakers from theresa may party no confidence vote to oust her from power. ashley webster with the latest,
ashley, good morning to you. >> ashley: good morning, maria, this had been coming and theresa may delayed vote on brexit deal monday, it was pretty much writing on the wall. about 6 hours from now conservative party members were report to committee room 14 in the house of commons between 6:00 p.m. and 10:00 p.m. uk will cast ballots, theresa may has to secure minimum 158 votes to keep her job. she spoke outside downing street earlier this morning and said if you change me as the leader to have party you will have to push back the timetable for brexit. take a listen. >> the new leader wouldn't have time to renegotiate agreement and get legislation through parliament by the 29th of march. it would have to be extending or rescinding article 50, delaying or stopping brexit when people
want us to get on with it. ashley: well, the latest betting numbers and you know the brits love to bet, patty powell reporting 2-1 on theresa may wins the vote. they back the prime minister, of course, what they say in public and what they do in private could be another thing but she's expected by some to survive this confidence vote. maria: wow, it's close, she's hanging on by her fingernails, ashley. ashley webster on the ground in london, dagen, her speech is outright acknowledgment that she's on the brink here. dagen: right, the big question in terms of businesses what will businesses do in britain preparing for the literally unknown in terms of britain's leaving the eu, wall street journal 2 days ago wrote editorial about the brexit, it's called the road to a bad brexit
and the problem is that the kind of people were hoping when britains voted to leave the eu that there would be this margaret thatcher renaissance of reform in terms of the economy and britain and it didn't happen. and so if businesses lose trade benefits of eu membership that offset some of the efficiency losses produced by bad domestic policy, in some ways, for the time being this is a lose-lose for businesses in britain. kevin: interesting aspect in the journal and maybe you can touch base, she highlighted march date which is critical because their economy is on professional services and if they are not able to get something done by march 29th deadline they will have real problem on custody side of business -- maria: good point. kevin: so the problem is that you will have a complete
disruption in supply chain of commodities market, that's why she highlighted the date. a new has to happen and we will lose business to frankfurt and paris. jon: dagen and i were talking about before the opening, why should americans should care about it and hearing about it for months, first of all, the global economy is slowing right now and a lot of problems bubbling up in europe. looked like europe was in upturn, it -- italy has a lot of fiscal problems. germany is big exporter to china, for the viewer out there what does it mean for me, the global economy is slowing and that's one of the reasons why stocks are turbulent. dagen: france is literally on fire, you have emmanuel macron trying to be populist and saying i will meet with mayors across the country which is what you
should have been doing in first place. there was the terror attack as well. jon: right, the other thing i'd say is around the world right now leaders are rewriting the rules of globalization and donald trump is the leader of the movement. what we are seeing in the uk rewriting the rules of globalization is turbulent. economically turbulent on the entire system. maria: you're absolutely right, the last time i checked there was coupling, people would say, there's decoupling and even though europe is under pressure, the u.s. won't get hit, no, it doesn't work that way, the u.s. would get hit with this kind of turmoil. jon: big question in 2019, in 2018 our economy charged ahead while europe slowed down but a lot of economists, people at the fed we talked to, we might not be able to keep this up, we might see europe following the rest of the in slowdown in 2019.
maria: particularly when you have trade turmoil. china has agreed to reduce auto tariffs and purchase more american products like soybeans and other products, we knew this was coming, agriculture products, key differences between washington and beijing remain. canadian court has granted bail for ceo of huawei freeing her after week of detention this as china detains canadian diplomat. china is detaining this canadian diplomat, kevin, is this a tit for tat? >> it appears that way. we certainly had a lot of companies issued letters to xe -- executives to be careful. this is fascinating. this goes back to what happened with zte, with huawei, to governments where they are not
wanting equipment because there's spyware, they will not use huawei equipment because of conduct as well as the technology and then furthermore thinking about pulling using huawei equipment. dagen: we have a rally, china moves tension. despite what's going on with huwaei and problems there, china is making steps according to wall street journal's reporting, reducing the auto tariffs and boosting purchases of soybeans and crops. auto tariff is an issue and went down to 15% earlier this year, the tariffs on auto import into china and then it went back up to 40% as a retaliation on the u.s. looks like right now that lou is saying beijing would reduce back
to 15%, this is a big deal. maria: big deal. kevin: they haven't addressed ip issues and corporate theft. [inaudible conversations] jon: this report by my colleagues bob who has been killing it on the story suggests that the chinese are starting to take that seriously, starting to talk there are ways -- maria: big deal. jon: important things in the story to look at. maria: definitely. jon: i don't understand why on the one hand we are pushing the chinese to do that and the president cutting china breaks first on zte and now he's talk about doing it on huawei when seemed like it was an important front. maria: one thing jpmorgan said is they were positive on the stock market because they believed that the huawei situation is separate from the trade situation. these are on separate tracks, if that's the case, that's a
separate situation, sounds promising. dagen: i'm critical of the way that -- a lot of the trade issues have been handled so i want to point out this morning that this is a -- might be a baby step, kevin, but it's an important one. maria: it is. dagen: one that will lift the markets. jon: chinese are starting to move for most of 2018, they made a lot of promises and didn't move. kevin: there's all talk and they do something different. dagen: i'm negative nancy, and if i'm optimistic for the next 3 hours, you know what, the sun is shining. maria: positive development and that's why markets are rallying right now. markets are seeing, this we will talk more about this for sure, then there's this, google on the hill yesterday, lawmakers grilling sundar pichai over privacy concerns, alleged conservative bias, all of that coming up after short break and 10-cent low-balling ipo despite
raising more than a billion dollars, more on chinese music sharing company going public, all right here next. real-time , you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement. taltz even gives you a chance at completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms,
or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. for all the things that move you. ask your doctor about taltz. and all thro' the house. 'twas the night before christmas, not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event.
maria: welcome back, a manhunt is underway this morning after the suspected terror attack in france. cheryl casone with headlines now, cheryl. cheryl: yeah, maria, gunman still at large after killing 3 people in, yes, the suspected terror attack that happened at christmas market, 12 more were wounded when the gunman opened fire on crowds at the famous market near historic cathedral, very popular area this time of year. the gunman hijacked a taxi to escape and french officials say they have identified him, 29-year-old man responsible, this guy has a criminal record, on watch list for radicals, 5 others have been detained in connection with the shooting but still the main gunman still at large this morning.
back here at home sundar pichai survived day of tough questions on capitol hill in first public appearance before house judiciary committee sundar pichai defended against lawmakers that were skeptical about how google handles privacy. >> does google track my movement? does google through this phone know that i have moved here and moved over to the left? it's either yes or no. >> not by default, maybe google service you opted to use. >> google knows i'm moving over there. it's not a trick question. cheryl: that was one line of questioning, denied allegations that google has anticonservative bias. taking a look at alphabet, parent company of google, to stk is pretty much flat, the rising media company which includes yahoo, aol is worth almost
nothing, verizon spent 9 billion to create the business and hoped the acquisitions would make it more powerful force in digital advertising, taking a look at verizon, stock is up 11% year to date. 10-cent makes its market debut today, chinese streaming company pricing ipo at 13 bucks per share, that's at low end to 13 to 15-dollar range that was expected, still this values 21.3 billion, one of the largest ipo's in the u.s. since alibaba went public. maria: all right, cheryl, thank you so much. a lot going on this morning. busy morning. google hearing yesterday, i have to get your take when jerry nadler gave opening statements it was clear that it was so partisan. he really was basically saying there's nothing here in terms of
conservative censorship which is absolutely incorrect. dagen: based on the wall street journal's reporting among many stories, google workers discontinued tweaking the search button for travel ban. now, it didn't happen but to say that there's no bias there -- maria: remember the california primary, dagen, you would google california gop and what would you come up with, naziism in terms of one of the tenants of gop. dagen: nadler called, said in his statement, i must dispense with completely illegitimate issue which is the fantasy dreamed up by some conservatives at google and other online platforms have anticonservative bias which is biggest donor, alphabet, parent company of google. i checked that this morning. maria: very important point. incredibly huge donors for these guys, how are they going to be straight? how are they going to be, you
knowinger not on one side if they are getting money from google? dagen: at least tell us where the money is coming from. maria: that should have been said yesterday. global energy, how one company manages to provide power to more than a dozen countries across the world next up. has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
so they say that some day ai will transform the human race. well, today you're a little busy transforming your call center. dealing with millions of customers a year, like this one. no, i'm pretty sure i didn't order a squirrel playing a guitar. that's why you work with watson. it works with your systems to resolve calls faster and improve customer satisfaction. i detected fraud and helped reassign a new credit card.
maria: big business of power, aes corporation operates, stock is up 45% so far this year, joining me right now on fox business exclusive is the ceo of aes, andre, good to see you, thank you so much for joining us, what's driving the stock right now? >> i think we've had a good year in terms of delivering results but forecast but we are growing and one of the things that's unique about our company, not
only few international u.s. international companies but the fact that we are really combining what i call capacity with energy. renewables provide you can energy but they are not here 24/7. so it's very important for consumers, for everyone, it's how do you provide electricity 24 hours a day 7 days a week, so what we are really doing combining renewables with traditional sources of energy and also with batteries, the world leader in this technology which allows you put more renewables on the grid but have a better grid. maria: i'm glad that you mentioned battery, we have been talking about battery-growing story for a long time and i'm wondering if it's resinating with businesses. when you look at, for example, the electric car, we have been talking about electric car, people are not buying it, people buying big cars, what's the story on battery technology? >> well, we started using lithium ion batteries on grid
scale, this would not be something the consumer sees about 10 years ago, and do they have more than 200 mega watts we would be building to 500, we have it in 16 countries, for us it's a proven technology. what you can do with the energy storage is you can store, for example, a lot of solar in the middle of the day, you save it up and inject it when you need it. maria: that's huge in terms of being able to inject it when you need it. >> yes. maria: easy to do? >> yes, that's what they do. it does et better than gas plants, has to heat up, this is instance. so today the market growing at 100% a year. maria: fantastic, earlier this year you announced that you were
teaming up with semens. team up with semens to take on tesla which is important here because you are doing tesla energy in the storage space, how is that going, tell me about the growth story there? >> sure, that's going very well. this year we will hit several hundred million dollars of sales, it's a very good combination semens and us because we really ahead of the curve, we were doing it 10 years ago, proven models, fifth design today and semens has the ability to sell in 160 countries, 100-year-old country with excellent reputation and the combination to have two of us, we are in 16 countries today but we have the capability of delivering in 116 countries. that's going very well and both happy. maria: what's your reaction in terms of what's going on in the market, oil prices dropping and natural gas on the rise, what's
behind the move? >> it's very interesting, the affect of the oil sector on our economy have changed very much. certainly in the electric sector it almost has no effect but natural gas had been the big story in the previous decade, so we, for example, have a lot of natural gas plants, we just inaugurated a new l&g terminal in panamá which will drastically change the energy sector of the country because it was dependent on rainfall and now with chief natural gas from the u.s., drought energy prices won't spike and also good for the u.s. because it means hundreds of millions of dollars of annual exports. maria: that story is becoming increasingly important? >> yes, absolutely. maria: sure is, andre, great to have you on the program. i know we met first 22 years ago. >> that's right when i was doing ipo. maria: it's been a great story, congrats, so i interviewed you 22 years ago when you first went public.
>> that's right. maria: great to see you, thank you so much, andre joining us there, aes corporation, tense sit-down at the washington, watch. >> if we don't get what we want whether you or military anything you want to call, i will shut down the government. >> okay. maria: details on the showdown for border wall funding between president trump, nancy pelosi and chuck schumer, it was quite the moment and then the china connection, new details now on how china maybe behind the recent marriott data breach, we are looking at marriott, boeing, real china fingerprints on all of this, back in a moment. ♪
now 6:32 a.m. on the east coast. trouble for theresa may this morning, the embattled british prime minister facing confidence vote, no confidence vote later today over the uk's plan to exit the european union, markets this morning in europe are reacting, take a look, the markets are rallying actually, ftse 100 up and a third percent, the cac quarante in paris up one and three quarters, 82 points higher and dax in germany up 110 points, better than 1%, higher in europe right now. in the u.s. futures are showing the markets look like this, we are expecting a strong open once again this morning, dow industrials up 180 points, three quarters of 1%, s&p 500 up 20 points, another 3 quarters of percent higher there and nasdaq with gain of 1%, 68 points higher on the nasdaq, we are looking at pretty strong opening this morning for stock prices, mix today flat day yesterday even though it was another volatile session, swinging from the lows to the highs at the close, dow industrials gave up 53 points, quarter percent lower, s&p 500 down fraction
really ending flat on the fraction, fractional gains up on the nasdaq, mixed story there at the close. in asia overnight, take a look at numbers, strong across the board, japan, higher, nikkei average up better than 2% overnight and then there's this, embattled cfo of huawei making bail in canada, we will tell you all the latest there. president trump says he would intervene in the huawei if it would help close a trade deal with china. meanwhile wall street is seeing two stories on separate tax which has been positive. migrant group demanding president trump either let them in or they say we want $50,000 each for us to turn around so either let us in the country or we want the money, the president standing by the importance of funding the border wall in meeting with democratic leaders yesterday. >> it's something the country needs, it's common sense, the country needs it, we need
protection, we need border security, we need security from drugs that are pouring into the country, they are coming in right through that southern border. maria: president trump says that he's proud to shut down the government in the name of border security. no instagram filter here, nasa insight's lander taking selfie from the surface of mars, coming up, first selfie you will see from mars, the story coming up as well. first story shutdown showdown president trump in heated exchange yesterday in the oval office with house and senate democratic leaders nancy pelosi and chuck schumer. watch. >> the fact is you do not have the votes in the house. >> nancy, i do. >> let's take the vote and we will find out. >> nancy, we need border securities. >> we have solutions that will pass the house and senate right now and will not shut down the government and that's what we are urging you to do not threatening to shut down the government --
>> when you look at the numbers of the effectiveness of border security and when you look at the job that we are doing -- >> you just said -- >> can i tell you something? without a wall these are only areas we have the wall. >> we want to do -- >> when you have walls chuck, it's effective. you can't have very good border security. >> that's not true, that's political promise, border security is a way to effectively honor responsibility. >> experts say you can do border security without a wall which is wasteful and doesn't solve the problem. >> totally solve the problems. nancy, excuse me, did we win the senate, who won the senate? >> when the president brags that he won north dakota and indiana, he's in real trouble. >> i did. >> let me say -- >> we did win. >> we entering this kind of discussion in public view. >> it's not bad, nancy, it's called transparency.
i'm proud to shut down the government for border security, because the people of this country don't want criminals and people that have lots of problems and drugs pouring into the country. maria: some of that was just for cameras, they knew cameras were there. joining to talk more about that kentucky congressman andy barr, thank you so much for joining us. >> good morning, maria. maria: a little bit of a test for the rest of us how democrats will be working with president trump in the coming two years, your reaction to what took place yesterday? >> i can tell you house republicans stand 100% with the president on this, we have a crisis at the southern border, the caravan that we recently come to the southern border of the united states contained a verified number of 600 criminal migrants including special interest aliens and clearly we have a huge problem at the southern border with respect to the drug flows that are coming
through the southern border of the united states. 80% of all of the heroin that's interdicted comes from méxico, méxico remains the number one supplier of heroin into the united states and we have seen a surge in fentanyl as well. so this is a -- this is a national security issue, it's a homeland security issue, it's a border security issue and refresh to go see -- refresh to go see president take accountability for putting border security and national security ahead of politics. maria: yeah, i mean, the cameras were rolling, maybe nancy pelosi and chuck schumer were aware of that and wanted to just say, you know, try to look tough but you have the caravan crisis going on. the migrant caravan is still trying to enter the united states with some members trying to bargain with the president, there's a report this morning congressman that says a group of migrants entered the united
states consulate in tijuana yesterday with a message for the president, they said either let us in or you owe us $50,000 to turn around, give us $50,000 and maybe we will turn around and go back home. >> ridiculous. we do not operate u.s. immigration law based on ransoms. the american people want bonder security and want to stop the flow of illegal drugs. in kentucky we have the if i have -- fifth highest overdoes in the country. and so does law enforcement in kentucky, they wants us to secure the border and infrastructure like border barriers, physical barriers, we know they work. let me tell you what's going on politically in washington. maria: please do. >> what's going on politically is that nancy pelosi don't have
the votes for speaker right now. what's going on is the far extreme left-wing of the democrat party, open-borders group, abolish ice group are ascendancy within the caucus, democratic caucus, at the same time a number of suburban democrats who recently elected, new democrats, pledge to support someone other than nancy pelosi, she does not have the votes to be speaker. maria: wow. >> she and senator schumer are prioritizing nancy pelosi's political ambitions over national security and we need to move on with this. maria: she doesn't want to get anything done because she doesn't want to make a bad move because she needs the votes. who are they supporting? >> they don't have alternative, democratic caucus is in political paralysis. she will not, she's totally
inflexible on border infrastructure and border security. maria: sure, why would she want to do anything? we won't know she's speaker until january. >> we should not operate government this way. dysfunctional way to operate and we shouldn't prioritize political ambitions of one member of congress. maria: how do you see it, dagen? dagen: republicans have done this president zero favors in terms of immigration, you did not pull funding from sanctuary cities in omnibus spending bill, number one, 23.4 border security in a compromised immigration bill that basically was defeated according to journal beneath wait of republican feuding over the details. now the president scrambling for 5 billion. >> i do agree with you as somebody who voted for both versions, one provided
$25 billion for border security and another that provided $30 billion in authorization. maria: yeah. >> for border security, it's frustrating that it failed but i can tell you this -- maria: real quick. >> in waiting days of the congress, the republicans are prepared to fully fund the remainder to have government. by the way it's government shutdown. maria: i don't know if that goes to senate, congressman. >> the house is prepared to pass a bill that funds remainder to have government including $5 billion for the border wall infrastructure. maria: a lot of big decisions. andy barr. >> good to see you. this is not a bed.
it's proven quality sleep. the new sleep number 360 smart bed, from $999... intelligently senses your movement and automatically adjusts on each side to keep you both effortlessly comfortable. and the best gift of all? a silent night. how smart is that? smarter sleep. to help you shed those sugar cookies, get a running start on the holidays, and take it all in with the patience of a saint. queen sleep number 360 smart beds from $999. plus 48-month financing. only for a limited time.
maria: massive marriott hack reportedly tied to china, cheryl casone with details now, what a story, cheryl. cheryl: time asking everything, right, maria, investigators have traced cyber-attack in marriott chain to hackers working on behalf of chinese government, personal information on 500 million guests at marriott starwood chain obtained as part of chinese intelligence gathering effort. the trump administration plans to target trade, cyber and economic policies possibly within next few days, shares of marriott down 18% so far this year, half a billion people caught up in hack. and picture is worth a thousand words, what's the selfie at nasa
taking on red planet, made up of 11 separate images, landed on march november 26th, 7 months from earth, huge event for nasa, hoped to get the lander and study internal structures of mars and how the plan net was formed, maria. back to you. maria: quick break, wedding day luxury for a lot less than you think, a pair of moms who help make grooms shopping easier, great story, stay with us. place, the xfinity xfi gateway.
♪ maria: i want to show you the start-up right now, luxury suits for men for less, groomsman suit founded by two moms offer stylish suits and tuxedos for less than cost of rentals, wedding and beyond, projecting $8 million in sales, i spoke with cofounders, they told me the inspiration came from jeans on wedding, watch this. >> we are planning a new year's eve wedding and we decided tuxedos are the way to go and gave the task for my husband and said make it happen, he went to big box store and went the rental route and wasn't until after the wedding that i actually realized how much the guys had spent. >> returning the items the day after her own wedding. [laughter] >> on rental option.
>> i'm so thankful i got the opportunity to do that and go through it because i realized there's huge hole in the market for affordable wearing wear and the guys can keep and own. >> when you think of what women have, bridesmaid have the best experience and have so many options and for men it's always been more of daunting inconvenient and expensive process to get suited up for weddings but really suits is not rocket science, she has a fashion design background and when she was starting to see the price tag, sticker shock. >> yeah, yeah. maria: tell us what set you apart from other suit manufacturers? >> we have built the brand and the company as not only having great product but being the reliable resource to couples when it comes time to planning day. >> making it easy, the process is no-brainer, visit our website, pick out option you like, set up wedding group.
>> coordinate. >> better than renting something, you don't know who was in it. >> at the groomsmen suit, $194, a lot of times less than what you would pay for rental, and fit better because we carry one of the largest size ranges of any brand and you get to keep it. maria: i love the baby jackets that i see. >> yeah. maria: so cute. >> new to our line, we are launching those today, junior line, kids line from 2t to 8 and we just realized that there are other brands weren't doing this. guys -- people were having trouble outfitting the ring bearers. maria: so suit. new brand of new colors. >> yes, that's exactly right. maria: getting -- expanding
here. >> focused selections but now as we are getting bigger, we wanted to expand the product line, charcoal gray right there and light blue which will be great for destination wedding season. maria: yeah, summer and warmer climate, what about accessories? >> to not grow too fast and get too involved in accessories we partnered with really amazing niche brands like jj suspenders, they do an awesome job. for our shoes we actually connected with a great company called mark nolan and those would be soon as well. >> we have really remained focused on keeping everything affordable. you know, we have -- we do not want to start adding luxury items, our goal is to really help men look like a million bucks for a fraction of the cost. maria: love it.
congratulations, ladies, we love entrepreneurial stories and you guys are knocking the cover off the ball. >> thank you. maria: check it out. jean foley, diana gaines. gain at the the start of trading, 168 points higher on futures on the dow, 2 third of a percent, s&p and nasdaq 62-point move higher, very good firm tone to the markets, we will take a break, when we come back massive recall, jimmy dean sausages have been pulled off shelfs because there may be metal on the meats, getting ready to ditch zone boarding, what does that mean for you in your next flight, mornings with maria, stay with
us. (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 as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59.
...and i found out that i'ma from the big toe lian. of that sexy italian boot! so this holiday season it's ancestrydna per tutti! order your kit now at ancestry.com maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. happy wednesday, it is wednesday, december 12th. your top stories right now. leadership challenge, british prime minister theresa may is facing a no confidence vote today. she is vowing to fight back. watch. >> i will contest that vote with everything i've got. a change of leadership in the conservative party now will put our country's future at risk and create uncertainty when we can least afford it. maria: we are taking you to london this morning for the latest out of the u.k. what this vote could mean for the future of britain's exit from the european union and how does that impact the rest of the world. ahead of the vote, markets are
rallying. we're expect ago strong opening for the broader averages, dow industrials up 170 points, three-quarters of 1%. the s&p 500 is up 20 points, and the nasdaq with a 62 point rally, up almost 1%. it was a choppy session on wall street yesterday. take a look at the results. the major indices finished little changed but the dow swung 570 points between the high and the low of the day. check out this chart. once it hit the low, at about 2:00 p.m. eastern, for the next two hours it was all up, but then another move down at the end of the day right before the close. i was a crazy day once again, markets ended down 5 # of points on the -- 50 points on the dow industrials. the fq100 in london, up 92 points, the cac in paris was up 80 points, and the dax index in germany up 100 points, that's almost 1% right now. in asia overnight, markets are posting gains. take a look, japan was the best
performer. nikkei average up better than 2% overnight in asia. rising china tensions meanwhile, get this, a canadian court has granted the cfo of huawei bail. but now a former canadian diplomat is in detention in beijing. so beijing could be fighting fig back canada by holding him in detention. president trump said he will step in if needed. grilled on the hill yesterday, google's ceo faced questions on everything from alisteninged political bias to privacy. the fallout for possible regulation in the technology sector coming up later this hour. delta airlines flying into 2019 with a major change. we'll tell you what to expect the next time you board a delta flight. i don't know if you're going to like it but we'll have the details for you. coming up this morning, i'll speak with hogan gidly plus sheila bare is with us this morning as well as charles
plosser coming up shortly and judge andrew napolitano is here. plus, dr. mik is with us, lots to talk about with him as well. we've got a big two hours coming up. we kick off with the top story, theresa may is set to face a no confidence vote amid uncertainty over the u.k.'s exit from the european union. ashley webster now has more in london. ashley, there were questions if theresa may actually even wanted brexit from the beginning. >> reporter: well, there has been that criticism, you're right, maria. she voted to remain. once she became prime minister after david cameron quit, she said i will carry out the will of the people. she has just entered the houses of commons behind me for her prime minister's question time, called pmgs. she entered the chamber to loud cheers. he she will face the vote in six hours from now, we'll know the result we believe about 9:00 p.m. local, which would be 4:00 p.m. eastern and the book
makers believe that mrs. may could indeed survive this vote. we've had 128 conservatives that have pledged their support to her. she needs 158. let me just caution this. what you say in public doesn't mean what you're going to do in private. th.the ballots that will be cast are private. she needs 158 votes. she said -- you ran a sound bite from earlier today. she said look, i have to fulfill the wish of the people and if i'm not here it will create yea chaos, we'll have to go back to square one and the chances of the u.k. leaving the european union on the deadline of march 2nd next year could be delayed or certainly extended. so much at stake here. we'll know later today whether theresa may will continue to be the leader of the conservative party, maria. back to you. maria: thank you so much. ashley webster is live on the ground in london this morning. joining me right now is fill delve y'all federal reserve --
philadelphia federal reserve former president, charles plosser. thank you for joining us. we hear of this uncertainty going on across the world, in particular the brexit move. are you expecting this to impact the u.s.? >> not in the near term. clearly, the way i kind of he see it is the u.k. and the e.u. are playing a game of chicken here. see who crumbles first. i think that's going on with a lot of international relations right now. it would be better if a deal got struck and they moved ahead but this looks like something that's going to go down to the wire. maria: you know, when and if britain leaves the e.u., that has to have ramifications across the world in terms of trade, in terms of economic growth. so once that happens next year, we assume, will that impact the u.s.? >> well, it comment i've always said when this first came up, i think the greatest thing the united states could do is open a free trade agreement with the
u.k. maria: i assume that's what president trump is trying to do. >> i think that would be a good thing to do. politically that's not an easy task on their end or on our end, i suspect, even though it would be great for world trade. maria: for sure. let me get your take on the u.s. right now because there's a feeling right now that the federal reserve has made a decision to leave to it the data and maybe pull back. are you expecting the federal reserve to keep up what it was expecting to do in terms of three rate hikes in 2019 or do you think given the most recent activity in the markets and the economy slowing down, that perhaps the fed is going to be less urgent in terms of raising rates? >> i think the fed want to be data dependent. that doesn't tell you very much about -- so the fact that people are saying that they were anticipating three rate hikes next year or four, i don't know that they really thought that. certainly, they had not agreed to that amongst themselves. it's the way people have read what's going on.
maria: markets have expectation. >> markets have expectations. the problem is in the absence of the fed telling people how they're going to react to data, ththe market's free to set any expectations they want. maria: do you expect the economy to slow down in the coming two years? >> well, slow down from probably what it was in 2018. maria: slow down from right now. we just have 4.25% growth in the second quarter, 3.5% growth in the third quarter. are we going to slow from there? >> i think probably the answer is yes. i think the fed knows that. if you look even back in september, it will be interesting this week what the summary of projections looks like, but even in september it showed they didn't expect more than 2.5 2.5% in 2019. the fact that it's slowing is not counter to what they sort of were anticipating. maria: i don't understand how we get they, charles. we're talking about earnings growth of 29% in the third,
quarter, year over year, 29%, 4.25% economic growth in the second quarter, 3.5% in the third quarter. what is it that will slow the economy 1234. >?>> i think there are a couple things on the books that the fed is worried about. a lot of forecasters are expecting slowing. that is whether or not the temporary effects of some of the tax cuts begin to wane a bit. it was juice seres ued up in the beginning. maria: i don't see that taking us to 1.9% growth. but okay. >> the fed s.e.p. showed 2.5, not 1.9. maria: i brought up that number because that's what your former colleague mr. ca kaplan, robert kaplan said. >> i think the real question for the fed is longer term, it's not short-term, it's longer term, whether the 1.9% is the true underlying growth rate, potential growth rate trend or not. the argument for that being -- for the trend being that how has 20 do with productivity growth
and labor force growth and underlying factors like that. if productivity, which has picked up somewhat this year, continues to stay strong, they're going to have to raise that projection from something like 1.9% to maybe 2% or 2.5%. but it depends. if that's the truth, if that becomes true, then that growth rate 2.5% would call for some higher interest rates going forward. maria: is it better to unwind the balance sheet? you're talking about a $4 trillion balance sheet. as opposed to raising interest rates. they've got to do both, right? >?>> yeah, that's got -- maria: what's more tightening, the raising of the rate or the unwinding of the balance sheet. >> i don't think the fed knows for sure. they opted to raise short-term rates. the problem is the same time they're raising short-term rates, by their own logic they're keeping long-term rates low, the balance sheet. okay, is that inverting the yield curve? maria: exactly. >> why are they doing that?
why is that the right policy? some people have argued way back when, jim borg said this ought to be a last in, first out kind of thing. the last resort we had was raising the balance sheet. why don't we as we exit shrink the balance sheet first and then raise short-term rates. maria: what do you think? >> i think there's some logic to that argument. i think the balance sheet poses a political risk for the u.s. economy and for the fed. maria: is it going to be a disruption for markets? >> that depends on whether you thought the balance sheet had a big effect in the first place. so i think the fed is in a funny spot because they have to either admit that the balance sheet isn't that important, didn't have much effect going into this, when they claimed it did and now they kind of want to have to argue that it's not that important as they come out. and you really can't have it both ways. maria: how does china fit into all this. you've got trade tensions going on. the cfo of huawei she was
granted bail by a p canadian judge as china seeks to ease trade tension was the united states but beijing is planning to buy more american products, we're told, we'll see about that, reduce tariffs on u.s. autos from 40% to 15%. if they do that, it certainly seems like president trump's efforts are moving forward and doing well. what's your reaction? >> i think lowering from 40 to 15 is taking off what they added in response. that would go back to the brief- previous status quo, more or less. i think the trade environment is part of the source of our volatility and uncertainty about the future, how that plays out. we're playing a little bit of a game of chicken as well by using tariffs and trade negotiations to leverage positions -- all countries are trying to do that. that's part of the uncertainty about the future. but i think that it's really not in either country's interest to
take this too far but it is a bit of a game of chicken. maria: who is going to blink first. the president talked about the tariff as separate issue of the federal reserve. he's been critical of jay powell. the president commented on the chairman, saying this, i think he's a good man. i think he's trying to do what he thinks is best. i disagree with him. i think he's being too aggressive, far too aggressive, actually far too aggressive, the president said. charles, what do you make of these attacks against jay powell by the president? >> i think presidents have always tried to influence the fed a bit but they tend to do it behind the scenes, quietly. maria: not this one. >> not this one. i think that's bad. i'm not -- i think it's poor because now the fed finds itself and jay and the fed in general finds itself in a no win situation. if they slow down their interest rate increases or make them slower than they otherwise would have been you're accused of
giving way to political pressure. or if you continue to raise them, you could be charged from the other side of trying to push back against political pressure. i mean, i think it's really bad to have this debate in public because you lose confidence in the fed. the fed runs the risk of losing public confidence by succumbing to political pressure one way or the other. that's not where we ought to be maria: putting the president's comments you aside, jay powell has got to be looking at an economy over the next couple years and saying things may slow down. do i want to really raise interest rates all that much aggressively to sort of accelerate that recession, accelerate that slowdown. >> that's what they're worried about. remember, as we said earlier, they already were forecasting a slower growth in 2019. so the real question is is their forecast going to come down even more and how will that impact the language and the way they
talk about raising rates. i think there's still a ways for them to raise rates but i think if the economy continues to slow, clearly they're going to have to slow that down as well m&a what d -- maria: what do you think oil is telling us right now. it's in bear market territory, around $50. >> remember, two years ago when it was at $30 to $35 a barrel, $40. maria: that's true. good point. >> things go up and they come down and i think that -- maria: you don't think it's indicating a slowing global economy? >> it could be some, but again, i think it's too early to tell. it's very important not to confuse temporary factors with longer run underlying fundamentals. maria: the fundamentals to you look good but slowing? >> i think the fundamentals are sound. i don't see a recession on the horizon any time in the near future. usually recessions come about from bad policy or bad actions or bad luck. they don't come about because of
a calendar. maria: charles, it's good to see you this morning. thanks so much for joining us. charlecoming up, google gets a , the fallout after the ceo testifies for his first time in front of congress. we'll tell you what went on there. a shakeup in the sky, how delta airlines is changing the way you board your flight. wait until you hear this. back in a moment. ♪
maria: welcome back. a suspected terrorist attack in france, cheryl casone right now on the details on this intense manhunt underway. a lot happening. cheryl: there is a lot happening in europe this morning. the gunman is still at large as far as we know after killing three people in that shooting. it happened at a christmas market. 12 more were wounded when the gunman opened fire on crowds at the famous market. this is near the historic strausburg cay he the cathedral. he was shot before hijacking a
taxi t escape. -- taxi to escape. he was on a watch list for suspected radical extremeist. five other people have been detained in connection with the shooting. well, this morning for your breakfast, you might want to check your fridge. jimmy dean announced a massive recall, nearly 30,000 pounds of pork and turkey sausage links are being recalled because they could contain pieces of metal. five people found metal pieces in the sausage. there's been no confirmed reports of any injuries from this. the sausage was made and packaged in august, has a use by date of january 31st, 2019. okay, all you fliers. delta airlines is ending zone boarding. now passengers will be seated based on the ticket type with each fare class assigned a different color code. delta says the goal is to discourage customers from lying up in the gate area and speed up
boarding process. it highlights the increasing number of travel tiers on a single plane for all the carriers. they look to charge you extra for different levels of comfort. get ready for that. one pennsylvania town found a fix to a pothole problem that's been plaguing their neighborhood. put a christmas tree in the pothole. yeah, they've been dealing with potholes for weeks. they just had it. one of them decided it's time to act. >> i was upstairs in the attic and was looking for christmas decorations and i came upon the tree and i thought that would look nice in the hole. cheryl: eventually a santa claus joined the hole, as di did ornaments. the city has announced the pothole may get fixed this week. maria: thanks so much, cheryl. coming up, charging your phone on the go, the mobile charging station that's revolutionizing
and trust it never fell into the wrong hands. ♪ ♪ this is a shipment transferred two hundred times, transparently tracked from port to port. this is the ibm blockchain, built for smarter business. built to run on the ibm cloud. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business.
beyond fast. maria: welcome back. it is a bill almost every american pays, that is the water bill. the latest numbers show americans consume 322 billion gallons of water every day. american water is the largest investor owned water and waste utility company in the united states. joining us right now in a first on fox better view is the american water ceo and president, susan story. thank you for joining us. where does the story stand today in terms of the supply/demand on
water? >> that's a great question. so water as you said is the most critical resource that every family, every person in the u.s. needs. there are three basic policy issues that the united states is wrestling with. one is water supply. we're all very familiar with the droughts in california, texas and parts of other states. the second is water quality. the issue of emerging contaminants. we've heard about the lead issue. the third, though, that doesn't get as much play is the water infrastructure which is 44% of all u.s. water infrastructure is near the end of life or flailing and within the next 10 years will be out of life. >> going to your investor day presentation, you talked about how you're going to invest $7.3 billion over the next five years. where is that capital going to be deployed? >> we have regulated utility operations in 16 states. new jersey and pennsylvania are the biggest states. the largest southern states account for 88%. we are basically replacing old
pipe. in the united states, we lose 2 trillion gallons of treated water every year, over 20% we treated and put in pipes and it leaks. we've got to find a way to save that water, reduce costs and also -- you do that by replacing infrastructure with naturaller r infrastructure. >> where does climate change rank as a list of concerns that you look at. >> part of the infrastructure replacement includes resiliency of our assets. for example, in new jersey and pennsylvania, in the past six to seven years we've had four or five events that exceeded the 100 year flood. tropical storm irene dumped a lot of water, almost took out water treatment facilities in new jersey. we spend 8% of the capital spend on resiliency projects to address issues of changing climate. >> in your mind, is it a real issue, a real problem that you have to address and respond to. maria: obviously there's a debate about it. >> we don't get into the debate
about why the climate is changing, whether it's natural forces, manmade. what we're looking at is we look at 10, 20, 30 years of data. we look at what we need to build our assets for to be resilient and hardened and that's our main concern. >> what about drought? that is one of the issues? >> absolutely. we serve in california. it's one of our top seven states. we were part of the conservation efforts that went on, offering incentives for conservation. we saw in our service territory two years ago usage of water declining 20 to 25% as a result of conservation efforts. dagen: what about the investment, whether it's individuals or investment funds that are making big investments in water. the wal wall street journal hadn article recently that the harvard endowment has been going out and buying california vineyards with the water attached, with the water underneath, as a bet on climate change. >> absolutely. so that goes back to the water supply and especially in
california where you have water rights and there is an order to which people have the rights to the water. buying those water rights or properties that have those rights is very important. from an investment standpoint as an investor owned utility, we raise most of our own capital. we're a credit rated. they did allow private companies to participate and two private companies were the recipients of the projects. we were one of the companies. one of the projects in missouri will qualify which will allow us to get the money at the treasury rate. maria: the trump administration announced new changes to water rules yesterday. it will redefine the waters protected under the obama era clean water act. in terms of implications, how does this change your business? >> from my understanding, it won't change implications very much. let me tell you why. our water sources, about 140 across the united states, are
main navigable waterways. any river that goes into the waterways, the wetlands that maybe are add are adjacent to t, those are our main areas of concern, even with the changes those will be covered and everything else will be a state issue. we work with the federal government and we work with states based on individual challenges to ensure our water has the best quality and that it's safe for drinking. maria: what about the quality of water today? wha?what would you say about i. >> in the yates united states, r is disaggregated. most of the areas have 3,000 to 5,000 connections and staffs of five, 10, 15 people. they're very good. our company, we have an r&d group with 15 scientists and we have five scientists including phds who their only work is emerging contaminants. we're saying what is the next thing that could make a headline that may not be regulated by the
epa but we work with the centers for disease control, we partner with the epa to look at not just what's regulated today but what are emerging contaminants that could have effect on drinking water. >> is your strategy to roll up the disaggregated companies into a giant business? >> to be clear, the majority of our municipalities, city provided systems and we think cities should have optionality. we don't think anyone should be forced to do anything. where we can provide better water quality, better standards and those cities today, they have so many priorities, fire protection, police, pensions, we think we can offer solutions to those assets that we -- that's all we do is water and. mariawaste.maria: it's a storyu don't focus on enough and it's so important to us all. susan, great to see you. thanks so much. coming up, grilled on capitol hill, the ceo of google, sundar pichai, faces lawmakers in washington refuting claims of political bias and handling of disinformation. the raiders head to court,
details about the city of oakland's lawsuit against the team and the nfl. back in a moment, right here. what if numbers tell only 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. metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with new everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- metastatic breast cancer, approved,
with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai. diarrhea is common, may be severe, and may cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. serious liver problems can occur. symptoms may include tiredness, loss of appetite, stomach pain, and bleeding or bruising more easily than normal. blood clots that can lead to death have also occurred. talk to your doctor right away if you notice pain or swelling in your arms or legs, shortness of breath, chest pain or rapid breathing or heart rate. tell your doctor if you are pregnant, breastfeeding, or plan to become pregnant. common side effects include nausea, infections, low red and white blood cells and platelets, decreased appetite, headache, abdominal pain, tiredness, vomiting, and hair thinning or loss. i'm relentless. and my doctor and i choose to treat my metastatic breast cancer
maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo, it is wednesday, december 12th. your top stories right now. it is a day of reconning. theresa may is facing a confidence vote later today over the u.k.'s plan to exit the european union. she addressed the issue including the prospects of a general election this morning. >> i think a general election at this point in time would not be in the national interest in the middle of -- and secondly, as you will have heard me say before in this house, i think we should respect the result of the referendum that took place in 2016. maria: with that, european markets are rail hadding i this morning. -- rallying this morning. the fq is up 83 points.
the cac is up 83 points as well, the dax index is up 116 points, better than 1% higher in germany. back in the u.s., futures are also showing the markets will open higher. dow jones industrial average up 230 points, 1% higher on the dow. about 1% higher on the s&p and the nasdaq with a 75 point move right now, up better than 1%. this after a mixed to flat day at the close yesterday. i was anything but boring. it was another wild swing for the dow industrials, 500 point swing once again, bouncing off of the lows, ending off of the lows of the day at 4:00. the dow industrials gave up 53 points, the s&p 500 was flat, down a fraction and the nasdaq was up 11 points, fractional gain there, again, a massive, wild session with the markets bouncing off of the lows by the close. asian markets finished higher overnight. the nikkei average was up better than 2% in japan.
now this, the cfo of huawei is making bail in canada over charges of misleading multi-national banks, this as president trump is telling reuters he will step in on this case if it means closing a trade deal with china. raiderses getting sue, oakland suing the team and nfl over moving to las vegas. and dale earnhardt jr. getting behind the wheel of a daytona 500 first pace truck. we've got the details there, lots to say about it. stay with us there. dagen: that's in my wheelhouse. maria: exactly. dagen: thank you for picking that story. maria: we've got all of that coming up this morning. first, this is also right in your wheelhouse, tariffs are hitting american bourbon industry and companies. flock ijeff flock is in louisvi, kentucky this morning with that story. >> reporter: it doesn't get more american than this. i'm surrounded by 2,000 barrels of fine kentucky whiskey, this is both bourbon and rye, this is
the kentucky peerless distilling company and so american that it was targeted by the european union with a tariff of 25% on top of the original tariff. that took place in june and i've got cordell lawrence, the head of global strategy. you actually shipped zero barrels to europe since the tariffs, is that right? >> that's exactly correct. >> reporter: you planned to ship how many? >> about 2500 cases total, so in the few one head, about 2500 cases, so imagine that being about 33% of our potential growth in a year, killed. >> reporter: as a result of that. i want to show you the distillery quickly as i tell you the big players on this, maybe spin around and you'll see the barrels, the big players on this like brown foreman and the others, they were able to get product in before the tariffs took effect but the smaller distillers couldn't. we'll be here all day, showing you the impact of tariffs in
america. maria: that's interesting because the larger companies might be able to handle it a lot better than the smaller companies, jeff. >> reporter: exactly. this is a family owned business, a fascinating story we'll tell during the day today and they're getting killed right now. maria: all right. jeff, thank you so much. jeff flock on the tariff impact on bourbon. you called this months ago, a year ago, actually, on bourbon. you mentioned bourbon and all of the other companies getting impacted by these tariffs. dagen: these other countries targeted quite frankly regions that voted for president trump. so it's not just financial. it's political on behalf of what's going on. i will say this, though. give the gift of bourbon this holiday season. americans should go out -- dagen: when you make eggnog, put extra bourbon in. that's how you help the small bourbon makers. buy small craft bourbon, don't buy the big guys. that's how you help american
business. >> mcd, i love you. maria: the president is tweeting this morning. he says this. another very bad terror attack in france. we are going to strengthen our borders even more. chuck and nancy must give us the votes to get additional border security. this of course on the heels of that important meeting between the president and nancy pelosi and chuck schumer yet which was something to watch, the three of them together. also yesterday, google, the hearing on capitol hill, google's ceo sundar pichai testified in front of the house judiciary committee yesterday on a range of issues they included privacy concerns over whether or not google can track your location just using your phone. watch this. >> does google track my movement? does google through this phone know that i have moved here and moved over to the left? it's either yes or no? >> not by default there. may be a google service which you've opted into use and -- >> so google knows that i'm
moving over there. it's not a trick question. you make $100 million a year. you ought to be able to answer that question. does google know through this phone that i am moving over there and sit next to mr. johnson which would make him real nervous. it's his question. it's yes or no. >> i won't be able to answer without looking at -- >> you can't say yes or no? >> without knowing more he details, sir. maria: joining me right now is senior judicial analyst judge andrew napolitano. what more information do you need? >> i really don't know. maria: of course google tracks us. >> full dishe closure, the congressman asking the question is a long-time friend of mine and a privacy advocate. he knows exactly what he's talking about and the ceo knows exactly what the answer is. when this is in your pocket, google knows where you are. but there's another level of -- maria: even when you don't have location services on? >> correct. and the of government knows where you are. this was an issue that was not addressed yesterday. all these members of congress,
republican and democrat, ripping into google for invading our privacy have authorized legislation that permits the government to do even worse. having said that, he should have answered the question h, yes. we know when this is in your pocket or pocketbook or the front seat of your car, the service provider knows where you are and through the service provider's links to the government, the government know where you are. do you want a society like this? we should have a debate on it. maria: other companies use that information. we talked a year ago about uber knowing where you're going because it's all right there. so there's the tracking and the privacy issues. then there's the political bias. ceo sundar pichai was also asked about reports that google is biased against conservative material on its platforms. >> do you believe that google has been brought out here in some question is biased? congressman, it's really important to me that we approach our work in an unbiased -- >> do you believe that google is
biased? it's either yes or no. no, not in our approach. maria: so -- >> these are carefully crafted nonanswer. maria: non-answers, that's exactly right. >> there's anecdotal evidence that shows that google is biased and both sides claim they suffered because of this. there's a liberal democrat on the committee who says i google myself and i see myself on conservative websites i have nothing to do with. you may not like what google does politically but it has the right under the first amendment to do that. on the other hand, if it does do that, the public needs to know. maria: it has the right to do what, judge? >> make political decisions, it's not regulated by the first amendment. maria: during the primary if you googled california republicans -- >> what did you get, nothing? maria: you got naziism. when you googled california republicans during the primaries, just a couple months ago, one of the important top
five was they're nazis. >> look, that is absurd but the remedy is not government regulation. the remedy is the truth. and the truth can come from another search engine. maria: did he not tell the truth yesterday? >> there's an anti-trust case against go google right now? >?>> they all get as big as they do, intending to put everyone out of. maria: there's a money angle. dagen: jerry nadler says it was a fantasy dreamed up. >> nothing will happen once the democrats take the house because they sort of like the horror stories that maria has. maria: they're getting money from google. google's giving -- jerried nadler, that's his number one donor. to not say there is issues here i think is not being upfront. >> to john mccain and tip o'neil's point, money is the
mother of politics. maria: charging your phone anywhere, no time anytime, how e companies shakes up the mobile charges industry. and dale earnhardt jr. getting behind the wheel of a first ever of daytona 500's chevy pace truck. back in a moment. ♪ as someone in witness protection, i can't tell you anything about myself. but believe me... i'm not your average consumer. that's why i switched to liberty mutual. they customized my car insurance, so i only pay for what i need. and as a man... uh... or a woman... with very specific needs that i can't tell you about- say cheese. mr. landry? oh no. hi mr. landry! liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
and all through the house 'twas the night before christmas not a creature was stirring, but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59.
maria: welcome back. the city of oakland is suing the raiders and the nfl. jared max has all the details now in sports. attorneys representing the city of oakland claim the raiders' relocation to las vegas in 2020, quote, lines the pockets of nfl owners and sticks owe land, residents, taxpayers and dedicated fans with the bill. raiders nation is about to lose its beloved nfl team a second time. they p went to l.a. from '812 to '94. -- '82 to '94. now, vegas bound. the raiders' owner who calls the suit meritless, who said if the city were to sue, he wouldn't play in oakland next year. the suit was expected. it calls the nfl a cartel and the $378 million relocation fee paid by the raiders to be shared among the other nfl teams a bribe. how is business overall in the nfl? looks like it's booming. next season, the salary cap will
increase by around 6%. teams a who have had $177 million this year will have up to $191 million to spend. retired nascar legend dale earnhardt jr. will do something in february nobody's done before. he's going to pace the 2019 daytona 500 in a chevrolet silverado, the first time the pace car will be a truck at the great american race. how about that, dagen? dagen: why did it take so long is what i want to know, number one. i've been around the daytona international speedway in the pace car and it's pretty rad. dale jr. is potentially one of the saviors for nascar in terms of his personality. now that he's retired, he's in the broadcast booth for nbc, he's really a different person. i think he will be the linchpin
to bring people back to the sport. they need to get it together, buy the tracks from international speedway and get this -- basically get the sport sold, get the france family out of it. ultimately, it might go away if they can't do something like that. maria: do they want that, the france family? dagen: they're trying to sell a stake in it. brian france is off after the arrest for drunk driving that he's not involved in the day-to-day operations at this point but get the france family out of it, get a new owner in, that's the future of nascar. maybe dale jr. puts up a little bit of money. i'm speculating, i'm making stuff up this morning. >> they might need to make dagen the chief operating officer. maria: she's got a job. dagen: i can tell you the mistakes they've made. that's what i do as a journalist. rear view mirror. maria: catch jared's sports reports on fox news headlines, 24/7 or sirius xm115.
♪ charge me up, baby. ♪ charge me up. maria: welcome back. how about charging while you shop? you can now stop stressing about your phone dying while you're shopping due to a company called charge it spot. its charging stations are in major retailers across the country. it's announcing a partnership this morning with target stores. joining us now is the ceo,
douglas valdesare. thank you for joining us. i hate when i'm doing anything and your phone dies. so how much acceptance are you seeing from these charging spots from retailers? >> so this year we'll double in size and really excited to look towards p 2019 as well. what we're finding among users is that usage rates are growing 20% year over year. people's phones are dying all the time. they're incredibly panicked when their phones are dying. if they can find a solution inside a store, they end up dwelling longer and spending more. maria: you say when you're charging your phone in a retailer, you evene end up buyig twice the amount or you shop twice as much. >> you end up dwelling double the time and you end up spending 47% more than you otherwise would have. >> how many of these are currently deployed and where do you think they're going to be next? what's the growth for these actual stations? >> we're in nearly 1,000 stores
right now. we're in four countries. we're in 42 states. we're head quartered in philadelphia. next year we expect to double again and we see that growth really being driven by large retail stores who have seen that their customers use this, appreciate this and end up spending more time in the store. >> what's the biggest challenge you face starting up a business and growing a business in today's economy? is it excessive regulation? government regulation? is it access to capital, bank lending, et cetera? is it finding skilled workers? what are the biggest challenges you're up against. maria: good list. >> a great list. i think it's different for every business. for our business -- >> for yours. >> for our business, we're evangelizing a brand-new category. before we started, retailers didn't have a budget for choring stations. we -- for charging stations. we couldn't ask what you spent last year on this.
we had to build out facts that retailers could rely on that would drive bottom line results for them. for us, what was absolutely key was doing a research study with third party independent firms to audit and prove what lift we create in sales and so that was absolutely critical for us to gain adoption from retailers and to build the business. maria: that's good stuff. douglas, thank you so much. we'll be watching the growth of the company as we all need that charging station, douglas, thank you. president trump is tweeting this morning. he just tweeted again on the border wall funding, writing this, the democrats and president obama gave iran $150 billion and got nothing but they can't give $5 billion for national security and a wall. he questions. between take a break. when we come back, forget sleep walking, sleep text is a real and growing issue apparently. next morning, "mornings with maria." do you text and sleep? dis it's actually texting, it's
>> welcome back. good wednesday morning thanks so much for joining us wednesday, december 12 top stories 8:00e 8:00 a.m. on the east coast prime ministered theresa may face of no-confidence vote to london live for the very latest what the vote could mean for future of britain's exit from european union markets rallying this morning take a look being dow jones industrial average up 215 points almost 1% s&p up 23 nasdaq up better than 1% 71 points higher right now very firm, tone, we are looking at a good rally start of trading it will was a choppy session on wall street although no shortage of vilt the major indices little changed when did all said and done but the dow swung 570 points between
the high and the low of the day, as you can see, from this chart 2:30 pm when we saw the markets hit low, only the to bounce off that and rise, as you can see, the market ended well off the lows of the day, down 53 points the close yesterday, in europe this morning, begins a across the board take a look at european indices ft 100 up 1 1/4% cac quarante if paris up almost 2% dax in germany up one and a quarter% right now in asia overnight markets posted gains across the board blest was japan up better than 2%, rigs china tensions continue a canadian court, has granted the rcfo ofh bailout on a bill a former a kiddiacanadian diplo by janing. >> showdown, that continues, a fiery meeting yesterday white house over the funding, of the board wall president trump double down on calls to shut
down the fwost next week if he does not get that five billion dollars to build the wall. >> i. >> time proud to shut down the government, for o board security people don't want criminals people that have lots of problems and drugs pouring into our country. >> fallout this hour, 10ments music market debut raised modern billion dollars in ipo pricing at bottom of the range what does that tell us about ipos into '19 coming up wednesday morning to break it down dagen mcdowell, the wall street global economics he had so are jon hilsenrath benchmark managing partner kevin kelly. >> else does, on point, duke university has a survey out today of cfo's 50% surveyed worried about a recession in 2019 maria: next year? >> next year, 80% worried
about recession by 2020 disturbing numbers, because when we get a recession nor if the that is what they think is going to happen, how is that going to affect their investment decisions. maria: a recession two quarters of negative. >> the president has one way to define it there are other ways to define it but yeah if economy contracting basically jobs contracting what pickup truck. >> 4.2 economic growth in second quarter how do you get to contraction from here. dagen: cfo's bigger worrywarts than ceo's are they not a cewould about be more about optimistic and cfo. >> they might not be right tells me about -- investment plans the other thing i wanted to point out 8:30, viewers should watch inflation data coming out last important data point before fed next meeting if soft inflation numbers takes pressure off fed.
>> cpi coming up, and who are not, companies have been able to pass on higher costs, to the consumer. >> exactly. maria: is we will with a of that joining the conversation this morning white house deputy press secretary, hogan gidley with us former fdic chairman here with dr. michael varshavski. >> stuart varney weighs in we tick off with top story, british prime minister ter ter is addressing parliament this morning set to face a "no" confidence vote, from british lawmakers today ashley webster has been covering the story from front seat more in london good morning to you. reporter: yeah, good morning to you what a day for theresa may started with a statement outside 10 downing street saying she is going to fight confidence vote with everything later on in you houses of parliament behind me a very heated conversation with labour party leader
jeremy corbyn accusing each other of putting personal interests ahead of those of the country take a listen. >> does nothing to solve government inability to get a deal that works for the whole country. >> he couldn't care less about brexit, what he wants to do is bring down the government, create uncertainty, sow division crack economy -- >> there you have it a taste of what was going on in parliament behind me later this afternoon, the prime minister will talk to the committee that will be conducting the ballot that starts at 6:00 pm log time here they will voting for a couple of hours 315 ballots cast she needs 158 to survive, if she does, she will be to have brussels straightaway tomorrow and fray for eu summit will try to win more concessions but meantime, first things first she has to survive that vote maria. maria: insure does any expectations who might come in as new prime minister, if in
fact she losses that? boris johnson? >>. >> well he is one of those there is dominic raab favorite former brexit secretary home second, boris johnson five to one boris is -- you love him or hate him in this country doesn't always have full support of the conservative party but a hard brexiteer there are members would love a hard brexiteer they don't want to go through pay for negotiations they say get out march 29 a long way to go before we get to that. maria: which was one of the issues for theresa may people speculating maybe she wasn't all in on brexit, thank you. we many keep checking back with you in london this week. >> china u.s.-china trade tensions cfo of huawei granted bail by canadian judge, a former canadian diplomat is
dined in china. >> purchasing more american products reducing tariffs on uas you autos from o 40% to 15% joining me hogan good to see you this morning thanks very much for joining us. >> great to see you -- >>. maria: as charles just say its former president of the philadelphia federal reserve, this move by beijing is staking us back to where it was from 40% to 15% that is eliminates the barriers put in place, in this trade fight so it is not really doing much, by going back to 15% is it? >> well i wouldn't say that i would say, it seems as though showing signs signals that everything is moving the right direction look the president, and the team went overseas they had conversation, they came back and reported look we are going to put a pause for 90 days economy at large not just in country but how we deal with nations with trade
bare yai bar yes, sir we are eyes wide-open want all trade barriers to come down the signals are good hoping that everything moves forward that way. maria: we know china was not happy with canada for making sure that this woman was in jail cfo of huawei now a canadian detained the china was that a tit-for-tat? >> i can't get into that, what i can tell you we have good he relations with both countries, we will have something to report i will let you know i can't comment further. >> hogan i am looking at modifying parts the marriott hack, now we see reports, that china was behind this hack, into mar ideologiantibiotic cus, similar with boeing, china behind them the public really doesn't understand what is going on here, this is a lot bigger than i think most
people understand. >> well what i think people do understand, what is the president has been telling them honestly openly since he took office china has been cheating us for quite sometime, the world community knows this, it is just first time we've had a president stand up to china, and say we're showing everybodys exposing everybody to what is actually going on with trade and other issues as related to united states we're not going to take it you any more. >> president said he will step in if things getting bigger in terms of the huawei situation markets were thinking the huawei situation was one story the trade story was another, in fact, the president just said he is going to step if, if -- if the situation needs him to, so it is all together. it is not a separate issue. >> well, look. the president's monitoring all these things, and it is -- it is a difficult climate across the globe the president knows that standing up for american people first has to deal with countries we have great relationships with those
countries you know when we have something to mountainous we will let you know sunny what is the most important thing you want to see from china in this? is it buying a trillion dollars of agriculture products, of opening their markets or stock -- what do you want to see you will say okay was a victory for u.s. >> it is irrelevant what i want to see it is what the president wants china to do, which is listen to him understand, let's reduce all these -- barriers reduce tariffs deal honoringsly no intellectual property theft no more stealing technology that has been going on just now being exposed everyone knows it this president wants it finished, we want to have open trade with these countries but they have to treat americans fairly they haven't for decades this president is finally standing up for american people. >> most agree a courageous move on president's part talk about that meeting yesterday the president standing firm on 'tis his command for border wall funding commander in
chief made that we are request chuck schumer and nancy pelosi watch this got to get the your acts. >> you know what we need border security that is what we are going to be talking about board security if wie don't the have board security we will shut down the government this country needs border security the wall is a part of board security you snow what i will say? yes if we don't get what we want, one way or the other whether it is through you, through a military, through anything you want to call, i will shut down the government. >> okay. that is enough -- >> and i will tell you. >> we disagree. >> i am proud to shut down the government for border security. >> chuck schumer i think was he happy with that answer so that they could replay and replay it but the president said he is going to be proud to shut down the government for this, hogan. >> what he i is proud to do is stand up for american people nothing nancy pelosi, chuck schumer refuse to do, i was standing right there in the meeting i watched chuck schumer and nancy pelosi refuse to make eye contact with the president, they talked, you know, via -- via any one verbal queues back-and-forth to each other
but it is very clear what nancy pelosi wants she mentioned the american people multiple times chuck schumer mention american people multiple times but policies don't defend the american people, they don't support the american people, when they talk about the border they are standing up for people who are here, illegally, and unlawfully hundreds of thousands of them they refuse to stand up for the hundreds of millions of american people that is very clear in the policies they want, they themselves hide behind walls locked doors armed guards won't let the american people do the same, all we're asking for, is to protect the american communities and families that exist in this country many quite frankly are legal aliens, excuse me legal grants who come to this country we want to support, protect them democrats want to support people here illegally on in lawfully the president exposed that to the american people yesterday wide-open for every one to see. >> why? hogan? ally would they want that? >> i mean is its just they don't want president to have a victory whatever it takes,
don't give him a victory? >> that is part of it but they used to be on the right side they voted themselves chuck schumer, barack obama, hillary clinton all voted for board wall used to be for securing other borders not for that any more three things changed one political calculus they think they can get voters in the kaufrng free stuff citizenship even though they have broke stn law, donald trump is in white house, they hate that. so they are going to oppose anything he wants to do. maria: yeah. >> but, also, the problem has gotten much worse we've seen, unacceptable untenable unpopular american people want to secure border. >> with about caravan cries would you think closer on this lawmakers talking about funding for border wall wall migrant caravan trying to enter united states some trying to bargain with the president there is a report this morning, that says, a group of migrants entered united states consulate in tijuana yesterday say they
have a message for president trump let us in your country or give us 50,000 dollars to turn around then they want to be paid, to turn around hogan. >> it is unbelievable to watch what what is going on worse is this is a democrat caused problem, you remember two octobering's go president put forth immigration plan democrats nowhere for found, here is what we want to do one border wall ending chain migration visa lottery nats won't tome total table they want the issue they refuse to fix what they have been begging to fix for decades just because donald trump is the one trying to fix it. >> some of this was playing to the cameras i have the wondering if yesterday was a test to show what next two years are going to look like pushback to this president we will watch great to have you this morning. thanks so much. >> thanks for skwour time. >> hogan at the white house rocking time for details, up
next. >> worst path for defenders in 2018 kanye ranks among biggest blunders this year passwords everybody can see it right there, stay with us. ♪ bring all the gifts for under the tree and while you're at it... bring the tree. ford f-150 best-in-class payload. best-in-class towing. built for the holidays.
bring home the f-150 with zero percent financing for 72 months. only at your ford dealer. for 72 months. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions.
to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. wat 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. attack in france cheryl casone with details on intense manhunt. cheryl: going on right now gunman still at large but five others have been detained french officials say three people killed 12 injured 29-year-old suspect opened fire at christmas market strenuous bourg very popular for to have you it's allegedly yelled "allahu akbar," on watch list president trump tweeted about attack tying with border cousecurity in stats presidentwrote chuck and nancy
must give us additional border security. >> the aol huffington post worth almost nothing verizon cut value by 4.5 billion dollars, verizon spent nine billion to create the business, halt acquisitions of aol yahoo! make it look powerful shares of verizon lower in premarket right now down almost 2%, cents making debut pricing ipo 13 dollars per share at low end of 13 to 15 dollar range one of the largest ipos in u.s. since alibaba went public in 2014 going to trade under tme, on new york stock exchange. >> annual list of worst password offenders, second
place of worst blunders a government audit team to get passwords nine sections swar he for multiple weapons systems protected by passwords that anybody in public could basically get through a google search rapper kanye west you may remember his meeting witht p at the white house cameras caught him unlocking iphone with pass code 000000, maria. >> that was the worst, really. then the other one password, right. >> 1, 2, 3. >> all right. >> confidential? >> -- the symbol, so -- >> okay -- he tried to make it up. >> coming up [laughter] >> hack tack concerns over u.s. trade relations with beijing varieties reportedly tied a marriott data breach to china, we are going to talk
about that next a wake-up call to smartphone fleet texting is affecting your health next up. ♪ i switched to liberty mutual because they let me customize my insurance, and as a fitness junkie, i customize everything. like my bike and my calves. liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement. taltz even gives you a chance at completely clear skin. don't use if you're allergic to taltz.
before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. for all the things that move you. ask your doctor about taltz. ♪ ♪ this holiday season, families near you need your help.
visit redcross.org now to donate. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today.
maria: china moments ago i spoke with white house deputy press secretary hogan gidley on latest on negotiations is between u.s. and china. >> look it is irreally vanity what i want to see china do what iselle relevant what the president wants clien to do reason to him understand let's reduce all these -- barriers reduce tariffs no more intellectual property theft no more stealing our technology that has been going on now being exposed everyone knows
it this president wants to finish it. >> joining us right now milken institute former u.s. ambassador to bank former assistant curtis chang how would you characterize the issues around china right now. >> issues have long been there if we are to sum up i would say a little bit of china out of control kudos to president trump calling china out on behavior i think many executives in asia know that is happening, but trump is not afraid one hundred percent i am with him, trying to reset that u.s.-china relationship. >> we had president of microsoft on recently, the former ceo steve ballmer said it cost microsoft alone 10 billion dollars a year in profits the fact that 90% of companies use microsoft operating platform one percent pay for it one example how they steal. >> i think seeing big news that we are seeing breaking
news cybertheft from marriott real data the call way back when president trump president xi did a deal supposed to tamp down this cyberwar between the countries, and i think we are seeing that deal has not worked, the chalk that in china in particular government business perhaps more close tlan they like to admit. >> how far do you think president xi leadership around him are willing to go, to address the concerns that president trump has raised? you know in terms of intellectual property theft subsidies state companies barriers to u.s. doing business selling in china how -- what are they willing to do, to -- to tamp down american concern. >> again, i am hopeful, my hope that is there will be progress, but i think history has shown sometimes it is more rhetoric than reality in terms of what china promises, to move things down the road. >> a the game right now to basically promise a lot not
deliver any of it or do you think they are actually kind of waking up, that that is real issue for -- >> i think the reality is going to be somewhere in between, right now, i call it a pause, in this tariffs war between united states and china 90-day pause but reality that troubles between two both great nations will not be solved in 90 days my hope that is there will be incremental progress. dagen: explain to us what we need to be listening for, listening to, in the rhetoric that we hear from the trump administration. and is from the chinese leadership. because i think, that there is -- it is almost like a -- communications between the two parties, that might be missed, because it is so nuanced people criticize president trump portray being bombastic very -- in your face but i think nuance going on in terms of how two sides are communicating in public. >> absolutely, i think one thing people need to focus on
is the reality of what will actually happen in terms of action so specific example chinese said out of g20, 101 din ze and trump would move immediately purchase agriculture products what does immediate mean time line for purchases or actually product moving soybeans moving? between united states and china? so look at the real actions not just promises, and time lines. >> glad you brought up real actions, because one of the real actions they have is 2025 plan then also 2035 where they are number one producer, in technology, and by 2049 the communist party can defeat any military in the world right? so how -- help reconcile that for me i don't think anything is going to be done on the ip theft, technology, the south china sea year starting to see provocations there, taiwan is an issue so i mean, agriculture is fine, but will
anything ever get done when it comes to ip and. maria: this is important, because what you are touching on here, is the fact that the economic strength that china has, is now being put in their military complex, so it is strengthening them not just economically but militarily. >> interesting point i don't think chinese quite frankly will be able to defeat u.s. because if u.s. acts in response, we think that is actually in interests of china to have a more stable economic and trading relationship, one thing that trump has been able to do, both domestically and overseas united people about policies in washington we don't see democrats criticizing what republicans are saying about -- >> the justice department reportedly preparing indictments against chinese hackers over marriott data breach hack collected personal information 500 million users jvptd reportedly labeling breach as part of chinese
intelligence gathering operation we first broke that in terms of marriott hack nobody was talking about china now we know it is rated. >> absolutely, we talk about un uniting the world, a versus l.a. headquarters -- realities many in asia are saying right on, but more difficult for a smaller nation, a small business to say some of the things the president trump is saying, but let me also note that china -- brings things together china and u.s. both benefit from a more stable trading relationship going to have to be one versus the other -- >> i want to say november cpi is out the consumer price index is unchanged okay. so it was that was the expectation, is right in line with expectations, unchanged, are you seeing any impact on the consumer in terms of price increases as a a result of tariffs we have been waiting on cpi.si number we want to mother if tariffs are sending
costs up if input costs go up to companies passing object to consumer we're not seeing it today cpi number just breaking hitting the tape. >> some data companies absorbing some higher costs the reality things will begin slowly be phased in see what happens, 82 days now 90 day countdown. >> you are not seeing compact yet? >> what are you hearing from contacts in china and asia more broadly how much chinese economy is slowing down, and how big a problem that it is seen as being for the leadership there. >>, of course, when you look at data china continues to grow, but it is slower growth, we see date debt issues, more likely corporate bankruptcies so clearly china has its internal challenges, one thing do i every year i -- my best and worst. >> tell us about best and worst. >> clearly i think people will be surprised in my colleague
josé, on. >> probably less strong than envisioned chinas have a seen strongest leader in a long time he may be afraid of a slowing economy a parade of people hidden scenes. >> protests even though dictator for life good to see you. thank you so much curtis chang from milken institute there we will be right back. a february to remember... ...starts with a december to remember at the lexus december to remember sales event. lease the 2019 nx 300 for $319 a month for 36 months. experience amazing at your lexus dealer.
. . maria: welcome back. good wednesday morning. thanks for joining us. i'm maria bartiromo, once he december 12 your top stories 8:35 a.m. on the east coast, trouble for theresa may right now, the british prime minister is facing a "no" confidence vote, later today over the uk plan to exit the european union, see where that goes what it means for the brexit situation, european markets rallying ahead this have vote to look where we stand with the ft 100 up 80 points better than 1% cac quarante in paris up 90 points almost 2% higher dax in
germany up 114 points betters than 1% higher as well, back in u.s. futures showing a rally a solid move start of trading this morning, dow industrials up better than 200 points right now almost 1% s&p 500 up 22 points almost 1% nasdaq up 65 points that is about 1% higher on nasdaq solid on upside, just about, an hour, less than an hour from now, asian markets hire as well best was japan nikkei average up better than 2%, well, president trump verses the federal reserve, the president says, that while he thinks the fed chair jay powell is a good man he says the fed chief is being far too aggressive on interest rates that it would be foolish for the fed to raise rates again early this morning i asked former philadelphia federal reserve president charles what he thought. >> president have always tried to influence fed but they tend to do it behind scenes quietly. >> not this one. >> not this one i think really bad to have this debate in
public. because, you lose confidence in the fidelity runs the risk oflog public confidence succumbing to political pressure one way or the other not where we ought to be. >> federal reserve is expected to raise rates next week when regularly scheduled meeting takes place buildings a better burger mcdonald's plans to change sandwiches coming up stock this morning is down a fraction, and we've heard of sleepwalking how about sleep eating? and sleep texting? the health concern coming up about texting when in bed all those coming up this morning top story, november cpi consumer price index, breaking moments ago, month over month unchanged, year-over-year unchanged, 2.2% want to bring in former fdi kre chairmen to react to markets where we are in the economy right now great to see you. >> thanks for -- >> thanks for joining us the
cpi shows no inflation consumer level you are worried about a slowing economy. >> i am worried about a slowing economy i think there is some financial stability risk that the underlying economy is good but i think there is underlying financial stability risk that stem from supervery long period of -- interest rates, and fed needs to be very, very careful getting out of this, so i think a lot of market volatility we're seeing a lot of asset values across the board decline deutsche bank amazing study showed 90%, 670 asset classes they track were down for the year just you know that is what monetary policy does inflaits asset values interest rates go back tart to start to go back down needs to be done slowly i think to keep this economy going recovery going, finally filtering down to lower income workers i really think they need to slow down. >> the markets are nervous about it. >> they are choppy session yesterday, the dow swung 570 points. >> volatile. >> is between highs and lows hardest hit bank companies,
that the banks, the financials leading this -- this volatility. what is your take on why markets are volatile right now, and in particular financials. >> yeah, so i think these uncertainty, i think we're seeing it is a lag in terms of interest rate increases whether they kick in, and the fed fortune to have a stimulus in tax bill we're losing that that will be less of a factor next year, so you know obviously, the yields for sliding typically a bad omen for a sessions if it inverts there is a lot of global trade issues, geopolitical risks about and global growth is slowing down, so i think that uncertainty is really playing into market volatility. but i think a large part of it is i have known driven by interest rates why you see huge reactions. >> jay howell suggesting slow down markets go up say no, we are going to raise markets, negatively react it is having
impact i think they need to slow down be very, very careful. >> they have got two tools to do that not just raising interest rates built unwinding balance sheet. >> they do they don't need -- it is -- it is curious they don't look at that, more. and so you know interest rate -- that they want to use, and knock on impact can be quite significant they supervise retools one reason to raise rates to lower if we get into a recession, but are increasing risk of recession raising rates doesn't make a lot of sense to me but if worried about being able to expand credit in down turner another way to get banks to boost capital buffers more when downturn comes with an reduce capital release credit for some reason not want to go do that another tool could use. >> let's talk about that this administration rolled back a lot of regulation, and certainly has set off, a bit
of a capital spending increase now we are questioning that, what is your take on the government's sponsored entities fannie mae freddie mac a lot of investors say the former, you know leadership in u.s. was using fannie and freddie's money putting it whenever they want taking money out of fannie and freddie they want a solution for these companies where is this going. >> i think we need a solution, i mean that is kind of big thing never got done, and -- certainly a key role in this crisis -- so -- >> exactly. >> so that said i am sympathetic to government position on investors, because there wouldn't be any profits if the tax pearce had not put a lot of capital in, you know basically guaranteeing all the guarantees they provide mortgage market, so i think longer term they need to solve it what we don't want to do is go back to the -- they put them in private sector again
implicit guarantees, goes back to government when losses model we don't want some suggest, a model another entity to provided mortgage insurance now deposit insurance when a person provides a lot of subsidies to housing, at least explicit a government agency doing its as opposed to for profit entity again -- >> did deregulation that we saw happen out of this administration help growth do you think did that in fact, you know -- >> have a yeah. maria: lift companies in terms of putting money to work with. >> right so i think, i think there is a -- look, yes, i think there was a lot of there was a lot to do in area of regulation, wasn't always smart financial regulation concerned with some of the steps taking one of the more simply metrics that we have the he ratio making that more
implicated not similar flying streamlining i think overall you are seeing uncertainty, in prior administration i think business community felt weaker -- >> was going to -- sitting on cash. >> yes, so for now i think, i think it has but, again, you need to be smart about it you is it i will need regulation, banking regulation -- but -- be careful. >> headline for me out of this interview the fact you are worried about economy. >> i am. >> hard for me to see that because you have 4.2% growth second quarter 3 1/2% growth third quarter what is worrying everybody so much higher rates? >> well from my standpoint financial stability -- the real economy is good, if you want real economic growth through wage growth what we are finally getting, minuteing trrlts doesn't give sustainable economic growth, i am glad we are getting out of that i like to see sustainable economy with full wage growth fed if a disruption in financial sector because of monetary policy going too fast
raising rates as well, some are doing now you are going to get a credit contraction bringing a recession on terrible consequence finally recovery real people in lower income level are experiencing ro river taken 19 years. >> your insights thanks so much a grilling on capitol hill yesterday, how ceo of going sundar
oval office yesterday president trump democratic leaders nancy pelosi chuck schumer, getting into a heated debate yesterday over funding for tr border wall the host of "varney & company" stuart varney to weigh in i loved it. >> it was great television. >> how often in america, you see people in politics facing off on camera, gaebdz the issue face-to-face? so what if it gets a little heated frankly reminded me of prime prime question time house of commons in england politicians getting into it face-to-face with some rules didn't go crazy, that is that is isn't that politics.
>> yeah. >> political debate wasn't that a breath of fresh air. >> case closed. maria: kro a little for cameras chuck schumer nancy pelosi wouldn't look at him couldn't make eye contact. >> went into that, miss pelosi and they went into it, determined, to get the person to say i am going to shut the government down. >> that is right. >> the he is getting it they lost the argument they lost it! maria: even though he said i will be proud of it? you think they lost the argument. >> oh i as a result do yes i think that mr. trump the president got the better of them by a long way, are by a long way i am sure people on your program disagree with me i think he won hands youdown i loved to see it. dagen: i don't think passive-aggressive ever wins when you argue with someone they won't look you in eye. >> they were passive-aggressive. >> you don't know what that means. >> i'm no at a psychologist.
>> means a passive way. come on passive-aggressive. >> everybody's mother-in-law is passive-aggressive about that. >> no bhepts. >> "varney & company" after "mornings with maria" join stuart fantastic panel coming up first hold the phone the shocking new study on sleep textinging back in a minute. ♪
beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. yeah, i've had some prettyeer. prestigious jobs over the years. news producer, executive transport manager, and a beverage distribution supervisor. now i'm a director at a security software firm. wow, you've been at it a long time. thing is, i like working. what if my retirement plan is i don't want to retire? then let's not create a retirement plan. let's create a plan for what's next. i like that. get a plan that's right for you. td ameritrade. ♪
companies jon skron with us this morning, i think this is a great sign i know the china saids in five years, you will be able to own an automaker out you want have that 49% j.c. are they opening markets jon? . reporter: they are starting to say that they will. they have a plan china 2025 looking to become self-sufficient dominate a wide range of markets what they are saying thou here in talking about -- and that plan has been a thorn in the side of trump administration talking about readviseing that plan looks like starting to move on intellectual property, on subsidizing state owned enterprise we might be seeing real movement here, it is you always have to be skeptical but this might be another sign of real movement among chinese. >> right now 2025 plan is to be number one in a.i. for example. right? >> that is what u.s. wants to be number one in. >> right. right what they are talking about, today, is instead of
focusing on getting 70% market share in their focus on opening your market just let real companies fight it out the way -- >> positive development. >> positivetentially. >> check it out we have been p teasing this all morning wake-up call on texting habitats roughly one quarter of college students surveyed say they texted somebody while sleeping a whopping 72% admit don't remember sending a message according to study from villanova university. >> is there a hel risk. >> if you are sleep taxiing you are not sleeping you are disturbing your sleep what is important when it comes to sleep is the consistencies as well as none of hours i recognize seven to nine his or sleep it should be between the same hours, every day, even on weekends, and most important thing is we're talking sleep texting getting that phone out of your bedroom. >> you say we need seven to nine hours' sleep?
>> -- raise your hand if you got nine hours' sleep. maria: a i would love that. dagen: i haven't slept nine in -- >> says you can't ask nap more than a half hour come on. >> two-hour naps. >> i detailly on smal strategy seven to nine hours half hour nap in between unless catching up, you had a rough night or couldn't sleep well, kids jobs all that stuff getting in the way. dagen: sleep texting is alcohol and ambien texting case you don't remember it count of mean sleep college kids please. >> partying we have to be realistic about this something that does happen is when you go to sleep for a few hours, the last few minutes before falling asleep you tend to not remember that when you wake up so you send summon a message before fallening asleep drowsy you wake up play not remember -- >> you have been telling people buy american bourbon all morning [laughter]
>> dr. "mik" thank you we'll be right back, stay with us. (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 as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59.
>> great show everybody thank you so much for being here. >> you rock. >> hardest working woman on television. go-sees the day everybody. "varney & company" begins right now. >> ceasing as we speak good morning everyone. be careful. the way the market opens may not be the way the market closes. bear that in mind when you look at this -- it is an early morning wednesday rally. big one. dow industrials going to go up about 300 points the the nasdaq up one and a half percent and here's the reason for this rally. "the wall street journal" says china is willing to increase access for foreign companies in china. that brought futures up another notch higher. so now we're up 300 points. we also have these headlines for you. prime minister theresa may will face a no-confidence vote four