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tv   Mornings With Maria Bartiromo  FOX Business  December 13, 2018 6:00am-9:00am EST

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in europe this morning it is set to be the end of an era for the european central bank, mario droghi expected to announce bond buying program. take a look, others fractionally lower as well. in asia overnight, markets were higher at the close, best performer there was hong kong, up 1 and a quarter percent. shanghai composite up one and a quarter percent. sign of easing trade tensions with china. making major soybean purchase after china is reported to increase access to foreign companies. new fox news polls, we will tell you how americans feel about the state of the economy right now. coming up at the end of the year, plus put me in coach, joée canseco volunteer to go take the job of white house chief of staff. details on what he's offering to president trump coming up.
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all the stories coming up thursday morning and joining me to break it all down fox business dagen mcdowell, king's college chairman of business and finance program brian brendberg and wall street journal page editor james freeman is here. great to see you. >> great to be here. >> i love the josé canseco, great chief of staff, great headlines. dagen: the president might need to think outside of the box in terms of people who are lining up for the job. i joke, but we have polls out and the story about apple which i know we will get to. maria: for sure, mark meadows is out, no longer on short list but the president is not looking just for new chief of staff but waiting on the succession of next ag. dagen: story out there that bill barr was hesitant to take the job. he was trying to make -- making referrals to other individuals but he is the nominee number
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one, and number two, there's expectation there's more shuffling that's going to happen in the cabinet particularly with the department of homeland security secretary kirstjen nielsen. maria: we are waiting on more changes going to year end. big show this morning, joining the conversation assistant to president trump on trade and manufacturing policy peter navarro is here to give us update with china. and coauthor of capitalism in america, alan greenspan making appearance this morning, super bowl champion and espn analyst víctor cruz is here. big 3 hours coming up. don't mismoment of it. we kick it off with top story this hour, major move for am. the technology giant plan to go invest $1 billion in a new campus located in austin, texas, the company announcing additional offices in seattle, san diego and culvert city, california. expansion and creation of new jobs as a result of it.
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>> big campus in austin. as many as 5,000 new employees, maybe 15,000 over time. one of investments they announced. i assume the president will be celebrating on twitter and who doesn't want lots of job in the u.s. i hope it is economic decision and not driven by political considerations. obviously they have been under a lot of pressure to build here and that's been a focus of the white house's efforts, a lot of good reasons to build in austin, texas, if you're expanding in tech, probably more hospitable location than california. maria: there have been worries that the iphone will get tariffed, we haven't seen that yet, but that's going to be more pressure for apple. >> can i just say that i appreciate the difference here between amazon's relocation and apple's. amazon was out there shopping around. the big-dog and pony show. they went ahead and picked the locations, a number of locations and did it.
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as you talk about whether this was politically motivated thing. i think amazon's was clearly motivated in northern virginia and new york city, this to me looks like apple trying to figure out how it's going to grow business. i really like that compared to amazon. maria: good analogy. >> fair point, they didn't relocate to the swamp. >> nowhere near the swamp and didn't make big deal. dagen: texas, austin, texas, although it's called the people's republic of austin, in that state, apple is opening offices in seattle, san diego and as a -- culvert city, calif. progressive, if you will, the number of jobs that apple even has created this year is kind of astonishing. 6,000 jobs in the u.s. this year, america workforce is 90,000, on track to create 20,000 jobs in the country by 2023. a company that has roughly nearly a quarter of a trillion
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dollars in cash. maria: largely overseas. dagen: it pushes back on how are you -- how are you using that cash, how are you using your financial heft and it's to create jobs in the country. maria: people are feeling it. fox news polls americans feel better. 47% view the economy as excellent or good. 50% say they approve of president trump's handling of the economy, these are fox news polls and once again we are seeing all of the issues that we talk about brian brendberg as most important to viewers like border security and immigration and, of course, health care as well. >> you see the numbers here maybe dip a little bit from october in the economy but generally strong. you look relatively to 2016, the numbers have gone up extraordinarily here, so you see the president on key issues. he's been very deliberate on trying to deliver on the issues, economy, border security, with the trade conversation we have
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now, i think you could see the numbers go up quite a bit in 2019 if they can get something meaningful done. maria: top issues for voters are health care followed by political divisions and the opioid crisis. interesting to see the division of things up there. political divisions, dagen at 78% in terms of people very concerned or extremely concerned. dagen: health care was the number one going into midterm elections and it was as if the republicans just completely ignored that that was important to the american people. they couldn't figure out how to run on that. political divisions is just interesting, already looking to less than 2 years out to 2020 presidential elections, how is this going to influence what people -- whether it's president trump or senators and members of the house, how is that going to influence their campaigning. but, again, health care, if you look at the list, on the economy the president gets his best marks, 50% approve, border
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security, though, under 50%, immigration, he's even below border security on immigration, these are things that he sees as winning issues that the american people disapprove is going up, the approvals are going up on issues like -- i mean, 49% disapprove on border security and 53% disapprove on immigration. maria: and it's also part of the political divisions, people don't want to see all of this tightening on all of the important issues, so the political divisions is important. >> they interact with each other, the less less gets done on immigration, border security and that ends up hitting the president but he's also out there making the case for it day after day and so i think over time especially as you get near 2020, he's the one who can say, look, i'm asking for answers here, i'm not simply obstructing, that may change the way poll numbers come in over time. maria: the president's job performance, 46% approve, down
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1 percentage point from october. you were going to say something, dagen. dagen: health care is if you remember one issue for voters, on health care, the president is under water by 23 points. and that's not to say that the republicans and this administration that they haven't done anything on health care, they've done more in terms -- maria: the big thumbs down from john mccain. dagen: right, that's actually -- the democrats run on take get away coverage with preexisting conditions, they have yet to message on that. they need to talk about what they have done to improve healthcare system. you know how you improve coverage, you grow an economy as fast as it's been growing this year, right, james? maria: that would help with suburban, educated women and suburban women, health care.
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>> you're probably in the going to get a reform now with the democratic house. it's about as you suggest, drawing the contrast and talking about what they've been doing in the trump administration administratively to offer people more options, more affordable choices, this gets into the weeds on the different policies association health plans and temporary coverage. but the point is they need to talk about steps they are taking which are real to prices, and make it easier for people to get policy. dagen: i will add to that, it can't be in the weeds. they need to be out there talking to people and the american people are not stupid particularly in terms of finances and health care, they know exactly what's going on. a friend of mine runs his own business and he's shopping for association health plans because of rules changes in the state he lives in. he knows exactly what's going on because it's not resinating.
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maria: do they favor democrats on the issue? >> they did in november. that's something to work on. the finding in pretty much every poll is one big win that the president has approval positive on the economy and people sometimes say does he pay attention too much to the stock market, personally, i think there are a lot worse barometers for the president to use, this is the issue for him, it's what he ran on, economic revival, he has to maintain it. brian: falls down in terms of importance for voters when the economy gets good. when the economy is good there's less concerned. the fact that it's down on the list, doesn't suggest to me it's not an issue he can't run effectively on. maria: we will keep talking about that and michael cohen getting sentenced yesterday, the president's former lawyer and theresa may in the uk surviving the no vote last night. we have all of that coming up. also coming up another canadian in detention this morning in canada, introduced dennis rodman
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to kim jong un, the fallout for the huawei way. josé canseco, former baseball great wants to be president trump's new chief of staff, that and a lot more after this break. (toni vo) 'twas the night before christma, and all thro' the house. not a creature was stirring, but everywhere else... there are performers, dancers, designers the dads and the drivers. there are doers of good and bringers of glee. this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event.
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♪ ♪ ♪ maria: welcome back, we are watching u.s.-china trade as second canadian now detained in china, lauren simonetti with all the details now, lauren, this is getting worse. lauren: big question is there's optimism on trade deal or progress on trade but is that
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being undercut by the diplomatic spat, let's begin with the optimism on trade that we are seeing, china says they are going to increase access to foreign companies in their country and the wall street journal is reporting that they'll draft replacement for their made in china 2025 program essentially that's their blueprint to be the leader in tech and industry in the future. and that draft will allow foreign competition and access to their market. the worry is that they're just saying this, this could be cosmetic change and not real so to, quote ronald reagan, trust but verify, also if they do open up market, this could be good believe it or not for domestic companies in china because without state support maybe private business in china can do well as well. let's get to second part of this which could be bigger part of china story. after the huawei case when
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sabrina mung was arrested awaiting charges on fraud charges, two canadian arrested. the second businessman michael, he's been questioned and detained in china. he has deep ties to north korea, he previously went there in 2013. so he's now been questioned in addition to the former diplomat michael, in terms of this gentleman, china has said they don't know where he is, they don't know the nature of the allegations that he faces. the worry is and this is something that kara discussed at an editorial, this is a warning for silicon valley, why would you want to do business in china if you're worried about retaliation in diplomatic role that's going on ottawa, beijing and washington. maria: most people don't recognize how big the u.s.-china
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situation is. it's not just about trade. two stories this week that are really scary is the fact that huge hack at marriott, china was behind it. okay, also boeing just backed out of this global ip satellite order, that was financed by china. so there's a lot of espionage going on, james, would you agree? >> yeah, and it's worth remembering because we have long done business with china that this is still a communist dictatorship and has moved back toward that old-style marxist model in recent years, xi jinping becoming leader for life, much twitter grip on the economy over the last 5 years and not just foreign companies but domestic ones as well. requirements to have communist party in each business. this is the big issue. you want to believe that the made in china project will get something more than just renaming but when you see these
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guys being detained, what looks like retaliation for a legitimate investigation in the united states xe -- executed by canada, you really have to wonder. >> this is very bad news, you no information on where the individuals are, what they are facing, the rule of law is out the window here. maria: yeah. dagen: what i was going to saysd from the institute, because of u.s. postour -- posture now, president trump taking on abuses, it's given cover that trade with the united states, they are trying to increase authority and power in the region against china, they might be pretty quiet about it but president trump's pressure has helped and there's a lot more going on behind the scenes.
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right. >> to follow up the point about the warning to silicon valley, it's an opportunity for the u.s., the trump administration should be recruiting chinese entrepreneurs to move here. it is no longer a good place for them to develop companies, not as good as it was. lauren: that's a good point. come here. [inaudible conversations] dagen: unless they are spies or hack our economy. maria: academia is one area that people are thinking this could be area that could make a difference in terms of china spat. do you limit or increase in terms of getting chinese nationals here because the worry is that they will take secrets and go back. dagen: what about training american women and minorities rather than companies saying our companies are going to --
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>> how about all of the above. maria: that would go toward women as well. dagen: how about right here at home. [laughter] dagen: i'm wearing red, bull on fire. maria: good, we like it, lauren, thank you. ready to talk about this at 7:00 a.m. hour when i speak to assistant to the trade, pete navarro, send me a tweet, what you want to hear most. massive toyota recall to tell you about. more concerns over exploding takata air bags. all about it next stay with. ♪ there's no place like home ♪
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♪ maria: welcome back deadly crash of high-speed train in turkey to tell you about. cheryl casone with details, cheryl. cheryl: maria, crash occurred in turkish capital, 9 people are dead and another 47 injured. local officials say the high-speed train collided with another train and hit overpass. video of scene shows rescuers going through metal. well, flight attendants for united airlines are planning to protest at airports around the world today. they are upset over staffing cut, 16 planned demonstrations included in los angeles, chicago, tokyo, it does not expect any flight delays because of protests, the shares of united are up 33%, another
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effect from the merger. toyota announcing massive recall to replace tekata air bags. the company speeding up to new recall, 15,000 toyota and lexus by year, the replacement takata air bags can inflate with force. shares of toyota down 5% this year. virgin galactic, achievement would mark, two pilots fly to record height of 50 miles of california's desert. successful launch would make them the first to send humans to space without support from government agency. everyone getting on the space race, maria. maria: incredible, would you take vacation to go to space?
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>> it's not even a possible reality but you know what's interesting about the 50-mile, that's where you use today get restaurant wings if you get 50-mile mark. maria: branson wants it to be reality. >> for guys like me and james, maybe it's just like to get down to florida in wintertime. [laughter] brian: if you can fly me down there, that's great, i don't need to go to the moon. dagen: just to warn people it's probably a vomit rocket. i flew with thunderbirds and that was a lot. i was sick for like 12 hours. it was awesome, air show takeoff, i'm just saying, fabulous experience but it's probably going make your stomach upset. maria: i would think so. we will take a quick break, go ahead, james. >> to get to the moon and find out i was overlooking the parking lot instead of big crater. [laughter] maria: we will take a break, a
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possible coup at nissan as you heard here several times, new reports that carlos goshn's arrest was suspiciously timed, he's still in jail cell, we will tell you about that coming up. women in biotech, we will speak with ceo that's breaking the glass ceiling in cell therapy, we focus on biotech next. alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. ♪
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s&p was 14 and nasdaq up 66 and a half points. 1% on the nasdaq. in europe this morning, big news after theresa may survived the no vote, ftse is down a fraction, 8 points, cac quarante is down 3 points in dax index in germany up 3 points right now. best performer was the hong kong market, hang seng up 1 and a quarter percent, shanghai composite up quarter percent as well. easing into trade, china reportedly making a major soybean purchase from the united states, this after wall street journal report that china is preparing to increase access to foreign companies, joining me at 7:00 a.m. this morning the assistant to president trump on trade and manufacturing policy, peter navarro will be my special guest this morning talking about that. then this, corporate intrigue, reports out of japan with arrest of former nissan chairman carlos goshn as power move in corporate
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coup. details coming up. exbaseball player was wants to be chief of staff. plus this, just kidding, basketball star steph curry walking back controversial claim that the moon landing was fake. top story right now, british prime minister theresa may will meet with european union leaders after winning no confidence vote among her on conservative lawmakers. watch. >> i'm pleased to have received the backing of my colleagues in tonight's ballot. i'm grateful for that support, significant number of colleagues did cast vote against me and i've listen today what they've said. following the ballots, we need to get on with the job of delivering brexit to the british people and building better future to the country. maria: may won the majority, a third of conservatives still voted against her leaving her deal for uk to exit the european union in jeopardy.
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joining me right now is alex partners, global vice chairman emea chair stefano. your firm is consulting, consulting on big issues and formally against brexit. >> not my firm. i'm a european citizen, i'm a global citizen,i live in the u.s., i don't think it's the best for europe and it's not the best for uk. frankly when they voted the people of uk voted, they didn't know really what they were voting for and now they do better and probably the vote could be different at this point of time by small majority and could be different after they saw advantages that were promised and not materializing. maria: what do you think are ramifications, how do things change practically speaking?
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>> well -- maria: if it does in fact, go through. >> different options, as we know theresa may was able to avoid the embarrassment of losing vote and she will try to go back vote for the deal. she might go through, it's hard to say at this point in time difficult, she might lose and might try again with second vote. if that passes the deal will be effective march 99, she's committed to deliver to the people. maria: some people feel like her heart was never really in it. the people she felt need to keep moving forward because there's so much pressure from the people. maria: yeah. >> she has to respect the public vote. the options if she doesn't win
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the confidence of the vote of the parliament there are difference scenario, one scenario they will try to negotiate a no way kind of deal, the after. that would be basically leaving them from a trade point of view within the eu without having a say within the eu. that could be negative quickly even within the time frame. most likely they have to. they have to ask for a delay of the article 50 application. other possibility is that we go forward with what's called the people's vote, second referendum to decide to go for the deal that theresa may proposed, go for a different option or stay with the union and this is not a serious possibility. maria: why do you want them to stay with the union, what's the downside risk of brexit?
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>> from a business standpoint, let's talk about business, from a business standpoint now it's clear that any scenario of uk out of the union is not as good as staying in the union. there are all the -- done by uk government and not other ones, lose 3 to 7 points of gdp in the next 5 years. from a business standpoint not good for uk. also there are some practical consequences. if there is no deal, april 1st, problem at the border, so as we speak there are companies that are accumulating stock or -- or reserving space to make sure supply chain is not disrupted. maria: right. >> additional burden, additional costs, delays which frankly can be and should be avoided. maria: all of the uncertainty of it has created problem for the economy. the uk has been a lagered in europe overall and there are other issues in the european --
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in the euro zone right now not to mention france, and italy with the budget issues. >> as you know, maria, business no like uncertainty and that's high uncertainty in uk, france which has macron has been able to calm down, but there's also some slowdown that we see in europe including in germany in the economy, so probably not the best time to look for additional problems. maria: we will see about that. let me move onto ask you about carlos goshn and possibility of a coup here. i've been believing that this was a coup from the get-go, i know underneath it all, many people inside nissan did not want to merge with reno. 3 seconds into it the ceo turned on him. after arrest of carlos goshn for allegedly falsifying financial
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records, some say there could be more behind the charges including myself. analysts report goshn's arrest could be timed to push him out to give nissan in ending alliance with automaker. what's your take on all of this? >> i don't know about a conspiracy theory, that all is made up by nissan or by forces, it could be. what is certain is that carlos goshn built one of the top three oem in the world with alliance together with mitsubishi and then clearly i think there's some learning from the -- let's say governance point of view both on french front an nissan point of view. if what they allege has happened, really happened, lack of governance that should be --
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maria: that's the thing, can carlos goshn make all the fun and cfo and the board is not aware of it? how is it possible that he underreported his pay and nobody knew about it? is he a one-man show, what about the board? >> it won't be the first time if that happens. i would wait to see what the judge will find out and what the investigation will end up with, again, i had the pleasure to work with him. i will make part that his personality, i worked with both very strong personality, probably the strongest personality in the automotive industry in the last years, highly opinionated. they saved nissan and built two very strong groups. that remains with whatever
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happens. distinguish between carlos goshn manager and carlos goshn man which has to be seen what he did if he did. maria: at one point he was an icon in japan, right, they had a comic book character named after him and he did revive nissan and yet now reno is the weaker player and reno was going to acquire nissan. the thing that really bothered me about it japan threw him in jail without official charges, he sat there and they kept extending the time, he's still in jail and can't allow them to speak to his family. smells horribly. the journal this morning details how ceo mary barr is under fire from the president, close plants, lay off thousands of workers, alex partners was involved during financial crisis at the time the whole country was watching the developments there, what's your reaction to what's taken place now as now the company is laying all of the
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people after getting the massive bailout? >> well, gm is a very different company now. that was a very successful turnaround. she sees that she has to anticipate some problems, the markets turned differently, the passenger cars are not sold as well as they used to and gm is refocusing toward large suv's and pickups on one side and the other side focusing on the new cars, electric cars, autonomous cars, it's changing the scheme. maria: realities of marketplace. >> she has to adjust this big huge company to the new reality, refocus on the new car. maria: i can understand. let's put one more hat that you wear stefano. chair of the andrea bocelli
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foundation, phenomenal concert at the columbus citizens foundation, tell me about some of the work that you do with andrea bocelli. >> wonderful foundation, he started doing charity on a personal basis, started foundation was created in 2011, the main focus is on empowering people and communities and the largest project we have is in haiti, we have built 5 schools, 3,000 kids. what we do is not just education, it's really having high-level education western standards, we want to empower this key. let's not forget that in haiti literacy level is below 50%. maria: we were showing pictures, there's lydia and there's mateo, bocelli's son, the concert in madison square concert, last
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night and tonight. jammed-packed house. >> he's stepping into big shoes but he's a wonderful man and i think he will do very well. maria: he was terrific the other night. great to see you, thank you so much for joining us. coming up, he's done running the bases, now he's running toward the white house, why baseball great josé canseco wants to be president trump's chief of staff. that's coming up. remember steph curry and questionable comments about the moon landing? >> have you ever been to the moon? >> no. >> no, they are going to come get us. maria: turns out now he says it was just a joke, we will explain, stay with us. what if numbers tell only half the story?
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bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at >> former baseball player josé canseco wants to be chief of staff. jared: he was right about that, but chief of staff, general john kelly will be leaving, josé canseco is offering services, he tweeted at the president, hey, little buddy, little buddy.
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canseco is 6'4 and trump is 6'3. i have reorganization plan already. also worried about you are looking more like a tweaky every day. he says i will buff you up. daily workouts, message me, #yes we canseco. all right. [laughter] jared: one issue paramount in nfl players that were kneeling during national anthem prison reform, hopefully the players are happy to see this, the league yesterday in statement said national football league applauds the leadership of the president and the bipartisan members of congress on criminal justice reform. we offer our full support for the revised first step act and urge passage this year, the bill is intended to decrease the size of our prison population and has received widespread support, mitch mcconnell say it is senate would vote on the bill before the end of the year. just 5 months before the oakland raiders will begin play at new home in las vegas in 2020 nfl
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draft will be hold in las vegas, oakland raiders as of now do not have a home for next year. golden state warriors steph curry says after all he was just joking when he made comment on recent podcast that sounded like steph did not believe astronauts had landed on the move, accepts offer from nasa to visit the johnson space center. maria, so in the end he thinks it really happened. maria: wow, so many things you just brought up that we have to talk about. first off, those tweets from canseco. jared: yeah. maria: is he joking, was he trying to be sarcastic? jared: he did speech to text because it was chief if staff, didn't go back to look, if he wants to be chief of staff, the first thing he needs to do after do speech to text, you need to read it. >> i like how he's offering both chief of star and chief workout administrative offices, he will get the president's shape as well.
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good, he has a lot to do there. maria: wow. dagen: it's attention-seeking behavior. all lefties who tweet at the president are people who are on the right who say things and they are just looking for -- they are looking for attention that they will say things, kathy griffin, get attention because, well, they have no life. maria: all right, jared, thank you, catch jared sports report fox news 24/7 or siriusxm 115, stay with us in 8:00 o'clock hour we will be speaking with super bowl víctor cruz, that's coming up at 8:30 a.m. eastern this morning. first breaking the glass keeling in biotech business, we are talking with one female ceo who is making big strides specializing in cell therapy, she's up next. place, the xfinity xfi gateway.
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maria: welcome back, only 24 of the fortune 500 companies are run by women but the glass ceiling for women in biotech has been chattered by my next guest, ceo of oragenesis, specializing in cell therapy, thank you so much for joining us. >> thanks for having us. maria: we want to talk about cell therapy as well as leadership in the business. you say cell therapy is the future of health care? >> it's a really exciting time. you think about what's happening today in medicine and drug development, we've had 25 years of biotech, identifying the proteins can actually cure disease but two teens don't actually work alone but go with cell that is activate them and let's them know what they need to do, scientists have option to taking cell and getting the drugs to do the things they want them to do.
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brian: this helps overcome donor shortages, can help replace or take care of that issue? >> yeah, also issue of donor, when you want to take implant tissue, if you can do it from same patient is huge advancement. you can use the patient's tissue, you're solving a lot of problems. it's all about making these drugs, that's the biggest challenge, okay, because if you think of it, this is living material, these are the cells of our body, making these drugs, making the products is the biggest engineering challenge that we speak because you can't make them like you would make plastic material or chemical material. >> main operation is in europe is that right? >> biggest facility is in belgium, belgium, central place for biotech if you think vaccines. but that actually services many u.s. companies, asian companies as well as european. we just opened another facility,
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we are opening in the u.s. >> okay, i wanted to ask you about that, the fact that you focused the belgium, that means the u.s. is less hospitable for this kind of work? >> no, not at all. one -- i think it's really impressive how globally regulatory agencies have taken on the challenge of finding a way to get the drugs to patients and even though many things are known that actually working together and it's exciting to see how scientists and people around the world are finding a new way, think of this, even a bone marrow transparent and now moving to drug and the challenge to how to do that are exciting. maria: fascinating, you're overseeing business six times as large as when you took the helm, tell us about being a women in your business, why there are so few females at the top and how you broke the glass ceiling? >> so, you know, when you talk about gender, i think every
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women finds their own way to identify with that. i identify with being a mother. to me as business person i would say it takes a motherly approach. maria: fantastic. >> i think of my kids and grandkids and i think of other people's children, i want them to have the therapies. maria: we are very impressed, thank you so much for joining 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
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so this holiday season it's ancestrydna per tutti! order your kit now at maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, december 13th. your top stories right now. markets are losing steam this morning, things have worsened in the last 30 minutes, dow industrials expected to be down at the start of trading by 55 points, a quarter of a percent lower. s&p 500 is down a fraction. the nasdaq is positive right now but it's up just about 4 points. the gains are reversing. after gains across the board yesterday, in fact. dow industrials were up 157 points at the close yesterday, two-thirds of 1%. the s&p was up 14, one-half of a
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percent. the nasdaq was up almost 1% yesterday at the close. in europe it is set to be the end of a era at the european central bank. the president is expected to announce the end of the bond buying program later this hour. markets are lower ahead of that. the cac is down 11. and the dax index in germany down 6 points, fractional move there. in asia overnight markets were higher across the board as you can see. trade tensions with china continue. beijing, though, reportedly making a major soybean purchase from the united states. there are still new questions after a second canadian was detained. he helped introduce kim jong un and dennis rodman. we are taking a look at these two canadians being detained in china after the cfo of huawei was detained in canada. apple with a new place to call home. the technology giant is expanding of. investing $1 billion in a new campus. we'll tell you where. fox news polls are out this
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morning, we're taking a look at americans and what think about president trump's re-election chances, who the democratic candidates might be as well. those stories coming up this morning. joining me to break it down, dagen mcdowell, brian benburg and james freeman. great show so far. >> good to be here. maria: goods to see you. >> we're wondering which way china goes here. they're talking about not favoring domestic companies, they're talking about respecting inintellectual property in the. maria: they talked about those things before. just saying. >> it seems like acknowledging problems is the first step. they're further along that step. >> they've never gotten past the first. maria: peter navarro said that acknowledged that they want to fix i.p. they're acknowledging they're stealing the intellectual property.
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step one. dagen: i was going to say there are three major worries weighing on the market. it is trade, not necessarily the number one. the global economy slowing, weakness in europe, weakness in japan. but also the federal reserve. with r mario dragiy getting ready to say we're going to stop our bond buying program, that's a problem they've been talking about for a year they're going to stop the quantitative easing. the bond buying program will end at the same time -- the federal reserve is reducing that balance sheet. that's tightening. maria: that's tighten. dagen: by $50 billion a month. that is very significant. it's causing volatility in the market and it's something that bears watching every single day. there's a lot of things going on in terms of liquid aity problems in the europe financial markets that you can't really see on the surface but you wonder why the markets are up and down so wildly. quite frankly, to the administration's credit, it's
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not president trump's messaging. it's not the messaging from individuals. it really is actual hard money that is being pulled out of the financial system by the federal reserve. maria: which is why steven mnuchin had a conversation with bankers recently saying what would you like to see more, would you want to see the tightening quicken the pace or do you want to see interest rate increases, maybe they don't need to do three rate hikes next year if they're going to be doing this $50 billion unwind every month. dagen: the balance sheet's below $4 trillion. it's fallen below that amount. it's hard to he see the impact but it's popping up. it's whack a mole. maria: we are expecting a rate hike next week when the fed meets. dagen: yes. maria: we will see that rate hike, the fourth this year. >> dagen: right. but wait and see from here on out maybe by the central bank. >> we'll see if we can get out of this historic period of money printing. the fact they've stopped money printing or in europe is going
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to stop, that's a positive sign. maria: we're watching markets this morning. our top story is china and the trade dispute. the wall street journal is reporting beijing is preparing new policy, promising greater access for foreign countries. it may be a sign that china is trying to ease tensions with the united states. joining me right now is peter navarro. it's good to see you this morning. thank you for joining us. >> good morning. i enjoyed listening to the conversation about interest rates and things like that. i'm very bullish on the economy and there is concern that the fed has gone too far, too fast. i think if we can get the interest rate policy right, we're going to have the next leg up on the bull market. but this is a great economy. so let's talk a little about china which i think is what -- which is the topic right now. maria: the top story in the joint venture nail, the headline is this, china is opened up in
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policy shift, beijing to drop plan for high tech dominance amid u.s. criticism, let more foreign firms in. this is the headline in the wall street journal. can you tell us this morning what the plan is and how china has changed its behavior. where are we? >> i noted both dagen's skepticism and james' skepticism about china's intention. if you go to the end of that story, there was an interesting quote by james waterman of the chamber of commerce saying it's important not to get caught up in the broad slogans that china might have but to have verified, actual results. what i would say to people who are watching the show who are invoters, don't get hung up in the day-to-day news of what china is saying they're going to do or whatever. i would focus on march 1 tst, when we'll have a complete offer from china that will be negotiated behind closed doors, not on the front page of the wall street journal and what we're trying for are two
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objectives that we have to hit. one, of course, is the market access which is to buy more stuff and let us get into their markets without the forced technology transfer and all the other kinds of things they do. much more importantly are the structural issues that relate to the 301 investigation that ambassador robert lighthizer did, the cyber intrusions, the state directed investment, that is the intellectual property theft. if we don't solve both those problems, we've got to hit both of those problems, structural and market access, we won't be able to move forward as an economy into the future. so that's what the stakes are. i say, again, it's like there's going to be a tendency day-to-day that kind of handicaps whether we get a deal or don't get a deal. if you just look at the front page of the wall street journal, you're going to be deceived by that because the real action's taking place behind closed doors, as it should, with tough negotiators like bob lighthizer. maria: you're playing down the
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story, basically, we shouldn't read too much into it because we need to see an overall complete response from china come march 1. >> that's exactly right, maria. those kind of announcements should be taking place in the negotiating room. so there's going to be a tendency here for china to run a campaign essentially to make everything look good and try to create an inevitableity of an agreement. from our point of view, what we must do is hold fast, stay tough, and pro cus focus on the. the prize for this country and for the world and for china really is complete structural reform to put an end to all these practices which are disrupting the global economy. i think where we are now is with a very bullish trump economy, very bullish. it's good for the markets. the only thing that can mess that up in my judgment is not china, but interest rate policy, if we get that right we're going
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to be fine. investors shouldn't get hung up on the china trade. wait until march 1st and see where we are after some tough negotiations behind closed doors. maria: most people don'ty a lies this story is more than just trade. it's not just about china buying more stuff from the united states, like soybeans. did they make that purchase in soybeans? >> yes. but here's what's interesting. prior to our tariffs going on, china began not buying our soybeans as a way of retaliating against us. here's the fact, maria. you buy those soybeans regardless. they need those soybeans. china is the hog capital of the world. they eat 50% of the world's park. that pork is fed by soybeans. if they don't buy the soybeans, they get inflation. if they get inflation, they get riots. those purchases are important. we want them to you buy our soybeans, our coal, our lng, our
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manufactured goods, more importantly, our autos, all of that stuff. but what's really important here besides market access is the structural. and these are so serious issues for this country. if we lose our technological base, the chinese espionage and chinese state directed investments, we're not going to have a country. so this is a historic moment. i would reach out to everybody covering this story and you do a great job on your show, maria, probably the best on cable news, journalists need to be responsible about the historical significance of what president donald j. trump is trying to do. without him, we wouldn't be having conversation. maria: he had real courage doing this. this is more than just about trade. there are real national security concerns. let's talk about two important stories, boeing canceling a satellite order from a u.s.-based start-up after critics warp this was broken by
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-- critics warn that this contract could give china access to sensitive technology. it comes amid the massive data breach at marriott, the hotel chain traced back to chinese hackers. how threatening is this for the united states as we see china behind the marriott hack and china behind surveillance at boeing? >> maria, you raise the point which is that this is not a trade deal like we have a trade deal in mexico or canada or europe. this is much more than that. and the fact that even as we're trying to come to some kind of agreement with china on trade, that you see all these stories. you see huawei. you see the theft of this satellite which is a classic evasion of export controls by china. you see the marriott issue. you saw a few weeks ago -- maria: what are we going to do about it? >> we're going to be tough and
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smart about this. it's trust but verify. the problem in a cyber world, though, with cyber intrusions is that it's very hard to verify and this attack, if it turns out that it's china on marriott, this is a classic, what they call a persistent threat campaign where china, what they like to do is do a fishing attack, get into your servers and then they sit there, not for days, not for months, but often for years. they watch the flow of data. they get information from that. they'll get information on personal data from people around the world. maria: for what? identity theft? what are they doing. >> it's a multi-vector attack. for example, if they have a competitor to a company, they can use that information to beat them. we have instances where china has actually disrupted sales orders in order to weaken a company so then to go in and try to buy it. maria: wow.
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that's an incredible story. i've got to ask you about what's going on in canada. canada raised the red flag, a second case involving a missing man in china. the country says it's working to get in contact with canadian businessman michael staber who was being investigated by chinese officials on suspicion of dangering national security. this comes days after the disappearance of a diplomat. is this at thi at this at this e arrest of the cfo of huawei. >> of course it is. the problem we have with china is when we launch legitimate concerns over whatever it is, china comes back and does these kinds of actions. so they're very hard to deal with on kind of in a western way and so all these things going on here, and again, i think for
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investors what's important is to don't get lost in the day-to-day news, just look at the bigger picture and the prize. and if we can -- if donald j. trump can bring about fundamental restructuring of the chinese economy and by implication in a lot of ways the entire way they do business, that would be a great achievement for the world. it's a heavy lift and he needs your help. he needs journalists' help in terms of doing the story properly. maria: we've been doing it. >> not sucked into euphoria. no one does it better than you do and your panel. maria: thank you. >> let's keep watching this. march 1st is the deadline. let's let things happen behind closed doors as they should with rob lighthizer. maria: before you go, nafta, a lot of democrats said they won't pass for it next year. will it get passed next year? >> usmca will be passed, it's
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the best, most modern trade agreement. it's an achievement by this president and robert lighthizer. i think when we get to the floor of the house and senate, they'll say hey, this is a great deal and we'll get it done. maria: peter, thank you. good to see you, sir. peter navarro. back in a minute. or where you trade, you'll only pay $4.95. fidelity. open an account today. ♪ the greatest wish of all... is one that brings us together. the lincoln wish list event is here. sign and drive off in a new lincoln with $0 down, $0 due at signing, and a complimentary first month's payment. only at your lincoln dealer.
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maria: welcome back. apple is expanding in the us. cheryl casone has the details now. cheryl: they've got a new home. apple is now expanding their presence in, well, del computer country, known as austin, texas. they plan to invest $1 billion in a new campus that's going to initially provide jobs to 5,000 people but could eventually be 15,000 jobs. apple also announcing plans to open new offices in seattle, san diego and culver sticks california, adding more than 1,000 employees at each location. shares of apple are higher in the premarket a quarter percent right now. boy scouts of america considering a bankruptcy filing amid dwindling membershi membera
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number of sexual abuse lawsuits. they face legal actions dating back as far as the '60s. it would allow the organization to negotiate with those who have sued. george from seinfeld may no longer be able to get away with double dipping. >> did you just double dip that chip? >> excuse me. >> you double chipped the dip. >> double dipped, what do are you talking about. >> you dipped the chip, you took a bite and you dipped again. [ laughter ] >> so, that's like putting your whole mouth right in the dip. [ laughter ] cheryl: philadelphia cream cheese invented the world's first double dip detector. the chip bowl uses what philadelphia calls chip recognition technology to track each chip in the bowl. you compare it with a smartphone to sound an alarm anytime somebody double dips. that's for your next holiday
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party. maria: i like that. that's good. there's not semiconductor chips in our food now? cheryl: not that i'm aware of. >> powered by huawei. maria: they're also spying on us. new fox news polls are out, they show 46% of voters approve of president trump's job performance. what this means for the 2020 presidential election. del monte with a major food recall, find out if your family is at risk. we've got all the details you need to know. back in a minute. ♪ makes me work a little bit harder. ♪ makes me that much wiser. ♪ thanks for making me a fighter. ♪ this is not a bed.
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also negative, the nasdaq is up 6 and-a-half. this is due in part to the ongoing trade tensions with china and the possibility of the federal reserve will continue raising interest rates next week and next year. joining us right now is the vice chairman of glow bat wealth and investment management, keith banks is here. it's good to he see you this morning. thank you for joining us. what's your take on markets here? you're not buying into this whole idea that growth falls off all that much. >> we buy into the view that you go from probably 3%-ish this year down to maybe 2.5%. the implication is you can maintain trend-like growth next year. i think what's got people worried is when the yield curve inverted between 2 and 5 and 3 and 5, in people's minds the risk of a recession next year went up dramatically. we think less that than the yield curve telling the fed you're closer to neutral than
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not so you can slow down on the rate hikes, given the fact that inflation has rolled over and there's a lot of -- a lot still flowing through the economy from the rate hikes and the balance sheet unwind have the rate hike expectations changed in your view? do you still think the fed raises next year and next week? >> i think next week is probably 50/50. and i think if they raise that's okay. what people will pay attention to is what are the comments and the comments are doveish, then i think people will say we're probably getting closer to the end. if they're not so doveish, people begin to worry again. next year, again, one or two maybe. >> the fed's talking about being data driven next year with the rate hikes. is that going to create a lot more uncertainty now people are going to be trying to read the tea leaves, there's not as much forward guidance. do you see that creating more volatility next year because the fed takes that route? >> i think we'll see more volatility period we went from a period of low growth, low
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inflation, no interest rates, low volatility. we've had a secular shift, higher rates, higher volatility. anything with the fed will add to that but i think, look, we can all watch the data as well. i think the inflation, wage inflation, general inflation and economic growth will tell us where they're going. >> so you're relatively bullish -- your relatively bullish take is about the strong u.s. consumer, also corporate investment. where do you see growth coming from? >> the consumer is in great shape. you've got an unemployment rate that is rock bottom. if anything, it drifts lower. wages are finally going up. that's a good thing. wage growth is over 3%. we think they can move to 3.5% next year. consumer confidence is high as it should be. business confidence is high. we think you're going to see capital spending increases next year around 7%. and that's really important because one of the things we need to see and hopefully through this increased cap ex is productivity rising because that
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can offset wage gains and not put pressure on companies to raise prices. it's another very important data point to watch. dagen: how do you feel about the president of the united states and particularly people in his administration, peter navarro was with us on with maria and he was essentially giving market advice repeat r&dally. he was talking about the next leg up in the bull market about the federal reserve, what investors should and shouldn't do. they shouldn't get hung up on china. this is a very different communication out of a white house. we're not really used to that. what do you say about it? does it matter? >> well, look, everyone's got a point of view about what's going to happen in the markets, what people should or should not focus on. the market will figure out what it should focus on. dagen: that's my point. >> it's all interesting, part of a big mosaic of information and viewpoints of which there is no shortage. maria: are you worried about china? >> china is important.
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if we don't get a reasonable resolution on tariffs, that will be a negative for the markets. but also that i think could potentially tip over business confidence, perhaps even consumer confidence, and it's going to clearly have an impact on global growth. you look at the e.u. which right now is struggling, the e.u. gets a 45% of their gdp comes from global trade. and so if we do see more slowdown, that's a negative for the e.u. so it all matters. it all fits into a broader picture. maria: sounds like you're still buying stocks, keith. >> we are. i think it's a good time to have some powder dry. we don't know where the bottom is. maybe we hit it, maybe we didn't. if you believe what we believe, that the economy will grow next year around trend or perhaps higher, you'll get 5% to 6% earnings growth from that. we don't think multiples will expand because of where we are in the cycle. but 5 to 6% lift in the market
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next year, plus 2%-ish yield, that's a pretty good return, given how many years of good returns we've had. so we would take that. maria: i like what you said about capital spending. that's important. good to see you, keith. >> good to be here. maria: thank you for joining us. stay works i'll be talking with alan greenspan coming up at 8:0x business exclusive. we'll get his take on economic growth. nancy pelosi flexing her political muscle, find out how the current house minority leader all but assured her return as house speaker next year plus new fox polls on the 2020 presidential election. vvolvotaking on tesla. back in a moment. ♪ we'll have a house party. we don't need nobody. ♪ turn your tv off, bring that boom box out. p (toni vo) 'twas the night before christmas,
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maria: good thursday morning. welcome back. thanks so much for joining us. i'm maria bartiromo. it is thursday, december 13th.
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your top stories right now. futures this morning are fractionally moving, dow industrials up 1 point, s&p up 2.5, nasdaq up 20 points right now. this after the major indices ended higher yesterday, across the board gains at the close. the dow industrials picked up 157 points. the s&p 500 was up 14, and the nasdaq was up 66, that was 1% higher yesterday. in europe this morning, a different story. fq100 is down 13.5, about a quarter of a percent, the cac in paris is down 2 points, the dax index is up about 16 points. we're waiting on mario dragi's comments this morning, it's the end of an era for the european central bank. the ecb president is expected to announce the end of the bond buying program later this hour. we'll take you there when he does it. asian markets in the green overnight. take a look in asia, hong kong market best performer, as well as china. easing into trade, china reportedly making a major soybean purchase from the united
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states. peter navarro counsel firmed the purchase has dan -- confirmed the purchase has been made. we'll talk to a soybean farmer this morning. federal reserve set to raise interest rates this week despite president trump calling jay powell too aggressive. i talked to peter navarro earlier. >> i'm bullish on this economy. there is concern that the fed has gone too far, too fast. i think if we can get the interest rate policy right, we're going to have the next leg up on the bull market, but this is a great economy. maria: former federal reserve chairman alan greenspan which join me in about half an hour with his take on where we are in growth. a million dollar ride, details on nissan's new sports car that will turn heads and empty your wallet. extra life for nintendo, how the video game maker is getting a
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happy holiday season. our top story this half hour, eyes on 2020, new fox news polls show joe biden leading the pack of potential democratic 2020 200 contenders. president trump's re-election chances, this is what the fox poll says, 38% of voters say they will vote for him for re-election. 55% say they will vote for someone else. these fox news polls just out. joining us right now is former clinton advisor, mark penn. good to see you. the dems have 40 candidates for 2020. it's true, there are 40 people that are running. >> right now, joe biden is about the best thing we have as a frontrunner, generally in this poll and others, in about 30, 33%. generally to be a real frontrunner you need to be in the 40s. bernie sanders, pretty close behind him. bloomburg saying he might spend $1 billion or more if he gets in
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on it. maria: he already spent -- he gave the democrats $120 million. >> he spent $100 million on a new york city mayoral race. maria: do you think he has a shot? >> i think between biden, bernie, beto and bloomburg, they all have shots. they didn't have hillary in the horse race. she is in number one in polls with women and has 75% approval with democratic voters. maria: is that possible? >> dagen: is that possible. one thing i wanted to say about president trump and get your reaction to that is that whether people would vote for president trump and for re-election, if you look at the results among trump voters from 2016, definitely and probably reelect trump p, you add those together, 84% which is a higher percentage in those two categories than in january of 2018. his voters are dou dug they in .
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>> those voters are dug in. if a president is 44 and below, pretty tough re-election. 50/50, over 48, 75%. president trump has just not made an effort i think to get over 50%. he's stuck at his base which is 46, which worked last time because of the electoral college but won't be enough to get reelected. >> back to maria's point about 40 candidates in the democratic pool, so many of those candidates will pull the party further and further left in this kind of primary process. that plays to the president's advantage, doesn't it? you're going to see a left ward move more here than in any year past. >> it does, only if the president figures out a way how to court the center voters. if they get left in the middle they'll have to choose between once again two candidates they don't like. that's the most volatil volatil.
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maria: nancy pelosi agreed if she becomes speaker she will only serve for four years. she did a deal that there are now term limits in place. this is a compromise between the establishment and the wave of new house members elected during the midterms. will it work? >> she agreed to problem solvers rules to allow compromise bills with the support of 290 members to get a vote up or down. that could really be something that breaks the log jam here from the rules get used. >> i'm wonderin wondering on thf we could talk about beto o'rourke for a moment. he lost the texas senate race. he's right in there with the leading contenders. i think it's because he's so authentic. [ laughter ] dagen: it's because he looks like a candidate. [ laughter ] dagen: he's so cute. [ laughter ] da that's why i'm --
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dagen: that's why i'm going to give him money. i hope he wins. >> i think democrats are looking for a new generation candidate. even if right now they've got only one person who comes on strong as a new generation candidate, that's what they want. do they want somebody else in their 70s, approaching the 80s for the next presidential candidate? i don't think so. >> so he could win or he could -- >> you know, who knows with 40 candidates. i'd give him -- look, being president is a low probability profession. who thought donald trump was ever going to be president? maria: is the kabal of people at the top of the fbi and the doj get away with it, is that what we're saying, they got away with it? >> look, what we saw the last couple days is incredible. michael cohen basically doesn't pay taxes for millions of dollars and bilks corporations out of millions of dollars and then to go against the president they get him to plead to crimes of campaign finance that are not crimes because they're personal
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payments. there are 268 settlements by people in congress, most of whom would have been during the election year. i don't see patty wagon showing up to arrest people in. maria: how about the trick they played on general michael flynn and how they destroyed his life? there's an op ed in the journal today taking aim at jim comey and the leading of the fbi, the flynn entrapment, it shows the ugly tactics employed by james comey's fbi. it says they were unfair in handling the questioning of michael flynn. the editorial board calling for transparency, saying if he does nothing else, president trump has an obligation to forme forms like michael flynn and the public to declassify and disclose fbi documents related to the fbi russia probe. mr. president, when are you going to declassify. what do you think? >> i think the same trick here, they got flynn on failing to register for some lobbying along with his son. they changed the plea to this
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ridiculous plea of lying, which he was entrapped in order to make it fit into the russia narrative. the judge said after these filings, said let me take a look at this before i pass sentencing because maybe some adult will come in here and stop these prosecutors from really making a mockery of american juries prudence. maria: terrible. i just -- it's really -- jerry nadler is very clear, he's shutting the investigation down. >> well, you know, the president and the new attorney general are going to have a decision which is whether to appoint a special counsel to investigate the fbi and the justice department and what went on here. look, what sally yates pulling out the logan act and then the fbi sending people to interview flynn when they already had the transcript, they already knew the answers to the questions and actions were perfectly legal. >> engineered by the two fbi people who have been fired for misconduct, fooling and
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misleading about what was happening and why the agents were coming over, the circumstances and how he should be prepared to respond, et cetera. but i'm wondering, does the house without having the collusion goods still find a way to impeach or do you think they have to back up here? >> i don't know. right now it's looking like 1998 all over again. started out over here, wound up with payments to avoid disclosures, of sexual matters and we're back to '98 dis here's what they learned, the democrats did. they get p subpoena power in january. they'll try to embarrass the president and make sure he doesn't get reelected. the emerging thinking is they never 340 move to impeach him. maria:.maria: we'll see what cs out. >> they're sure on 67 senators. it looks like '98 all over again. i would be surprised with the way mueller lined up his report
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and all pleas whether or not the democrats don't vote for i' i'm myrtlmyrtleimpeachment. i think it would be better for the democrats because i think they could win on the issues. maria: when will the mueller report be out? >> i don'?i. >> i don't see how he goes another 60 days without a report. maria: it's great to see you. the president just tweeted, i want to bring you this tweet. he says i often stated one way or the other, mexico is going to pay for the wall. this has never changed. our new deal with mexico and canada, the usmca is so much better than the old, very costly and anti-usa nafta deal that by the money we save, mexico is paying for the wall. we'll take a break. when we come back, over 700-horsepower, nissan's new sports car is fast, beautiful and expensive. the price tag is also up there. we will tell you about it. then mickey mantel, willie mayes and duke snyder in the same segment.
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we've got memorabilia belonging to these baseball grate greats . stay with us. ♪ now i know my live with her goes on. ♪
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in-laws were coming, a little bit of water, it really- it rocked our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today. maria: welcome back. del monte foods is recalling canned corn in 25 states. cheryl casone has the details. cheryl: del monte recalling 62,000 cases of fiesta corn seasoned with red and green
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peppers. it's a precautionary measure after the food wasn't processed properly. volvo gearing up to take on tesla. the company releasing images of an all electric truck it plans to launch in california next year. volvo will introduce the electric truck in california in 2019 and they're going to start selling it in north america in 2020. shares of volvo down 30% so far this year. nissan giving a makeover to one of its high end cars. the gtr has been one of the quickest and best handling cars in the world. it's never been considered a hot-looking car until now. nissan teamed up with an italian styling house to build 50 special edition cars. cost, just a million dollars. it's cheap. then there is this. nintendo's new super smash brothers ultimate game is a smash hit. the fifth install in thment in e series sold 1.2 million units the first few days.
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this indicates a good holiday season. the game first debuted on the nintendo 64 console back in 1999. it's always been a top seller. the super smash brothers ultimate is available for nintendo switch, it's said to be lifting for the $299 switch. shares of anybod nintendo down s year. maria: collecting sports his tri, we take a look at ledge dairy -- legendary sports items. we'll take a look. stay with us. ♪ we are the champions, my friends. ♪ and we'll keep on fighting til the end. ♪ [ telephone rings ] [ client ] - hey maya.
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maria: hit a gift giving home
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run with sports memorabilia this morning. joining me right now is the author of living on purpose, brandon steiner. great to see you. >> great to be here. maria: this is your 30th year. >> it never gets boring. maria: congratulate -- congratulations. we want to look at these fantastic gifts. we want to start with a autographed bat with the lem legends. >> it's tough to get mantel on a bat. what's old is new, the blue chip stocks, like mantel, mickey, william and duke. this is an unusual bat. everybody's selling their stuff now and the new -- a lot of the young ones getting into it and people love vintage stuff. maria: this is selling for $3,000. >> this is normally a $5,000 bat. this is the hottest stuff on the website and our auction, all the old vintage stuff, believe it or not. maria: very cool.
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this is really an eye catcher. a wwe championship belt signed by aaron rodgers. is this a unique item or what? >> it is unique. he's unique. he doesn't sign a lot. he's one of the grates and probably maybe one of the greatest quarterbacks. you remember the discount double check, he was all into that. he's great to work with. you come up with a lot of creative products. he's one of those quarterbacks, you can never do enough with him. maria: this is unique and creative, an autographed sneaker by shaq o'neil. how did you do this one? >> this is his real sneaker, size 22. maria: are you serious? >> he picked me up and this is a -- maria: this is his real sneaker? >> yeah. we recreated the actual sneaker. size 22. he signed these. these are hard to get, obviously. they're a great -- you put it in the lobby or man cave.
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maria: this is incredible. >> i love it. i love shaq. maria: he's got really big feet. >> what's not to love. >> you know what they say about big feet, great heart. maria: is that what they say about big feet? >> he has a really big heart, yeah. [ laughter ] maria: i'm not going there. autograph photo of steph curry. >> probably the hottest autograph we have in the business. he's on fire, great guy, quality guy. you know what makes him so popular is he's popular internationally, popular in europe, china, as he is in the states. every kid loves him. maria: bo jackson became a legend in two sports in his hay. we have a jacket signed by him. how much will that go for? >> that's a $500 item. the raiders are t hot. we don't know where they'll play next year. tyson, that's a piece of
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nintendo back there. that was a hot, hot game that you played with. bo jackson for some reason has withstood the test of time. he does really well. the raiders, that brand even though they haven't won a lot of games, but that brand is hot. maria: the brand is not. what is going on with the new york brands? >> i don't know what's going on with new york sports. i'm faithful about the knicks. i'm always confident about the giants. i love eli. i wrote this book. maria: living on purpose, stories that wai will lead you n extraordinary life. >> great stories about march ya know, a-rod. just because you're getting older doesn't mean you can't dream big and you can't make a comeback. maria: good advice. >> good father or grandfather books. maria: stay with us. we're going to talk with victor cruz next hour of "mornings with maria." brandon, great to see you. still ahead, alan greenspan in the house coming up, next hour, "mornings with maria."
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geico. fifteen minutes could save you fifteen percent or more on car insurance. maria: welcome back. good thursday morning. thanks for joining us. i'm maria bartiromo. thursday december 13 top stories right now just at 8 confirm on the button on the east coast, markets losing steam this morning, take a look, dow jones industrial average down 5 points, s&p up 2 nasdaq up 18 very much fractional moves this morning, for futures, after pretty good day yesterday across the board take a look the dow industrials picked up 156 points yesterday two-thirds of a percent the s&p up 14, nasdaq up 66 at the close, 1% in europe this morning we are waiting for official comments from mario draghi but the end of era for the european central bank will stop bond-buying program the end of the year, as expected, ecb president mario draghi will hold a conference to tell us more later this hour, in asia overnight markets fijd higher across the board, best performer hong kong and china,
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the tensions with china are increasing, beijing reportedly making a major soybean purchase from united states assistant to the president for trade manufacturing policy peter navarro joined me last hour to give a status check on trade talks with china. >> what i would say to people watching the show who are servers is that don't get hung up now in day-to-day news about what china is saying is going to do whatever. i would just focus on march 1, when we will have complete offer from china, that will be about negotiated behind closed doors not on front page of the "the wall street journal." >> new questions are rising a second canadian detained helped introduce you kim jong-un and dennis rodman china detaining now two canadians after the cfo of huawei detained in canada now fox polls how americans are feeling about state of the economy join us for that apple
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has a new place to call home the giant is expanding investing a billion dollars in new campus, we will tell you where, plus united airlines uproar employees planning major protests today against united we tell you why, all those coming up thursday morning joining me to break it down fox business network dagen mcdowell, the kings college chairman of business and finance program brian brenberg the "the wall street journal" assistant editorial page editor james freeman. >> i vehemently disagree with mr. navarro i think chinese trade deal should be about negotiatored by pages of "the wall street journal" i hope he will reconsider that position. >> we want information the journal has been breaking story after story about this, we want the information, to know where we are. in the process, rather than waiting till march 1 i totally agree with you -- >> investors should not be worried about what is going on? long-term investors need information this you we get a sense of what is happening what to expect so businesses can make planes the key when
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it comes to trade. dagen: news glash is peter navarro a newspaper editor or stock market analyst neither he works in white house. >> when you start to say the next leg up in the bull market -- federal reserve -- basically, pulls back on raising interest rates that might be true but against who is saying it if you work in blackrock fine but working in with white house negotiating trade policy with china trading partners that is kind of your -- what you are paid to do. >> also give peter navarro credit about raising red flag on china the first who came out wrote the book, about china, years ago, but came out and started talking about how they were stealing intellectual property how they were forcing transfer a of
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technology president trump first to poke back at china say this has to top. dagen: i am one hundred percent with you there is a clear fixation on stock market as a barometer of the president popularity a barometer whether succeeding in what he wants jon hilsenrath said this administration for two years needs to focus on one number, that is the unemployment rate. and i think that when you couple the stock market, and the economy, and you start messaging those simultaneously you are going to run into trouble market might not the economy as we have been saying is healthy perfectly healthy growing faster this year than year prior again, the markets volatile you said from weather president started commenting you want to own it on the way up going to own it way down that is actually true that is true, did you want the say something james? >> i think they are both good barometers pretty good right now could be better whether we
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resolve the china trade dispute. maria: europe stopping presses on this european traditional bank announcing last hour will end bond-buying program with other headwinds fiving the european economy ecb president mario draghi expected to take a dovish tone in news conference later this hour the former ferry chairman coauthor of capitalism in america alan greenspan with us dr. greenspan always a pleasure to see you. thank you so much for joining us. >> good morning. >> what are your thoughts. >> i am delighted to be here. maria: okay. >> my thoughts are i like -- i like the discussion of soybeans. soybeans was a first commodity or stock i ever speculated in so i have a certain fondness for the crop. maria: wow. so you have a fondness for the crop the soybean crop i like that thank you for that info, what i just heard from peter -- he said look -- china is buying soybean now because
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they stopped buying it after the tariffs so going back to square one basically where they were in terms of buying soybeans. >> it is a key variable to watch on negotiations that is a very big crop, and as you know, we are had been, the major supplier to the market worldwide. so you can't spend too much time on that particular crop because i think it is telling us a lot about u.s. chinese relations. >> what do you think it says given the fact china is buying a large purchase, in in terms of of soybeans but they are going back to where they were. >> well -- yeah, well i must admit for a while i was concerned that we had lost the large chunk of the market. but now looks as though back to square one, but -- i wish he wouldn't go through that type of routine.
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it is not the way to handle international affairs. >> meanwhile, we are looking at very minimal inflation if you just looking at ppi and cpi sir. what is your take in terms of whether it is soybean or any other crop, are you worried about inflationary pressures given the fact that wages are up 3.1% year-over-year we are seeing certain products within commodity space move up what is your take on inflation right now? >> well, i think as i said in -- the book we just published that we are moving into a state of stagflation we haven't seen in this country for quite a while. it is slow, it is progressive but if you look at productivity which is key statistic in economic outlook for the united states, we are not doing all that well, and indeed, since the 2008 crisis,
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productivity growth rate has been averaging something like one 1/4 percent annually in high day of american expansion early in post world war ii period we were up to 3%. so this is a very extraordinarily subdued economy and the causes of that are -- go into detail about in the book. it is not something that is going to go away right away. and i think we don't pay enough attention to it, because this economy is not accelerating by any means. >> not accelerating by any maintenance so are you expecting things to slow down further? are you saying the economy growth is not accelerating or just the growth of inflation? >> i am talking now about the economy growth rate is fairly subdued, and with a subdued rate you don't have the strong
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pressures for inflation, but as you pointed out before, we are getting higher wage rates, higher unit costs eventually we are going to need to have some price increases somewhat more across the board but large ones or big inflation is not to me appear on the horizon. thing a great demand is not there. >> the situation in europe slowdown going on there, uk is a laggard italy having budget problems. obviously, france and the riots protests uk leaving european union does that impact u.s.? are you expecting that to impact. s to even further slow things here in the u.s. in terms of that subdued growth level? >> well i am a little more concerned about europe than
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most people for one very important reason. nobody talks about target two. which is european central bank mechanism when which clears the various, different credits, what they see is clearinghouse for all of the central banks it is you booundz bank largeest net credit on rest of europe two-thirds has 900 billion, 900 billion euro, credits mainly against spain, and italy. but that is something that worries me immensley because it is unstable situation unless and until we get in a
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strained out hard to see europe advancing in a significant way that will spill over into the united states one way or the other. >>s right so going to still over to united states we've talked about coupling decoupling, for many years, over the years, dr. greenspan, we now know that we are all coupled so if you are having a major problem in europe going to hit the u.s. i am perplexed at you calling the u.s. growth snub subdued because we saw 4.2% economic growth second quarter 3 1/2% economic growth third quarter federal reserve obviously raising interest rates expected to raise next week. but the path of rate increases this is question because of what you just said, because things are subdued but how will the do you get to subdued after very impressive numbers i mentioned 4 anda quarter% 3 1/2% growth. >> sure just wait till the fourth quarter number comes out going to be down around 2 1/2%.
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>> why? >> we have monthly data. we have monthly data suggests that we are slowing down, we're not going negative, but we are definitely slowing down, the rate of growth as we go into that 2019 probably at a 2, 2 1/2% pace, maximum. >> so what is function dr. greenspan a function of higher rates slowing demand? uncertainty on part of business managers? what do you think is happening? >> i think it is primarily been caused by the fact that productivity growth has come down very significantly and as i wrote in the previous book, to the one that is not the one that just came out, but the previous book, i go into some detail on why it is that the
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-- gross domestic is his savings being crowded out by entitlements rising as you know a rapidly pace but gross about domestic savings is key funding for capital investment in the united states. as a result we are seeing capital investments slowing down and that's the critical factor which is determining 2 1/2 gdp growth rate. >> a good point another guest from merry christmas looking for capex spending up 7% next year with all worry signs in terms of this slowdown, dr. greenspan do you think a recession is on the horizon? >> i don't think so i think what we have is stagflation a slow economy but one in which inflationary pressures are building modestly but it is
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not -- the type of economic system -- situation i should say -- which we should try to avoid, and unfortunately we're not in the process of being very successful. maria: how do we avoid it. >> you take the -- you avoid it by resolving the entitlements problem. we're not funding our entitlements and as a result we have huge deficit trillion-dollar budget deficit, it can't exist with that sort of phenomena without inflation remerging itself, so in the context of a slow economy if you are getting inflation being driven by monetary fochs, basically the large deficit, you eventually are going to come out well the end. >> one more implication -- run away spending. >> and these entitlement programs that need to be corrected, dr. alan greenspan always a pleasure to see you,
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sir. as you so much. >> my pleasure. >> coming up apple eyeing a new home details on company one billion-dollar investment expansion uproar against united airlines united airlines what the employees across the country are planning, stay with us. (toni vo) 'twas the night before christmas, and all thro' the house. 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
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in dell computer country known as austin, texas cheryl: they plan to invest a billion dollars, in a new campus that is going to provide jobs for 5,000 people, but could be 15,000 plans to openly offices in seattle san diego culver city california adding more than 1,000 employees each location. >> well, flight attendants for united airlines are planning to protest airports around the world, today, they are upset about staffing cuts. there are 16 planned demonstrations concluding airports in los angeles washington, london tokyo chicago, a major hub for
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united they say they do not and flight delays because of protests but under stock up 33% year-to-date. >> fewer signed up for this year deadline days away this saturday, despite availability of plans stabilizing rates could edge up according to fox news poll americans say health care is a ptop concern. >> not a party at the white house for the media this year president trump first lady medical jana trump weren't scheduled to host for christmas party but annual parties a tradition held for years under presidents starting with richard nixon president trump's ripe with mainstream media organizations has not been great, so big party, is off. >> thank you, coming up
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general electric shares up details behind 1.2-billion-dollar venture up 12 1/3% on ge probably best move seen in years. >> upgrading heartland live look into technology impact on farming in the 21st century. back in a moment. ♪ you may be mae want to roll my limo down ♪ ♪
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leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. . . >> prior to our tariffs going on china began not buying our soybeans, as a way of retaliating against us here is the fact maria buy soybeans regardless they need those soybeans china is hog capital
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of the world eat 50% world's pork that pork fd by soybeans if they don't buy our soybeans they get inflation get inflation, get riots in tiananmen square. >> director peter navarro chinese purchase of u.s. soybeans as thousands of farmers are gatheringing in omaha for the annual inventory kristina partsinevelos there live good morning. >> good morning, maria. so we are on central time right now it is about people having coffees getting excited for the day nice toys behind me mercedes of the farming industry i've got amazing couple married 32 years! and they work together -- start with two you have a farm for hogs grainy soybeans i want to focus on talking about trade talking about tariffs, how has that at a affected your farm. >> we have seen a 20%
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dedevaluation of soybeancrop hit in hog industry hog operation. overall not a good way to be going into the winter months when we are looking at refinancing, and looking towards next year. >> how concerned do you find that it is going to benefit you, about what about the subsidies 12 billion dollars president offered in summer? are you feeling at least a little bit concerned or are you do you feel you can tough it out. >> we are concerned, and the money that was set aside through usda helpful piz a fewbills doesn't make-or-break an operation. i mean we would like to have, markets not aid, we are very much involved in the fact that markets will lead our entire profitability so as much as 12 billion helps some family out, it is not enough to put -- money in the bank. >> okay, can you tell me we were here in the theme is there is a lot of tech a lot of computers behind me, how
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has technology rv illusionized the economy how are you using. >> it data collecting for a long time machine behind us collect data as we go cross the field harvest we collect about when we plant when we spray, when almost every field operation, also other areas ag collect tremendous amount of dedicate farmers business network helps us realize how to get information out of that data, not unlike almost every other business sector but agriculture is really progressive in collecting data and now companies are help oing us use that data get information from it. >> are you worried that this is going to all the people from ask silicon valley are going to be coming here quickly? >> well, they might be coming here to help us that is good, yeah, yeah, so it is really good when they come to help. >> great. thank you very, very much best of luck with everything throw it back to you i will be here all day. >> they do we will check back, listen, farming is important certainly an important industry for the u.s., and so
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we -- we appreciate hearing directly from farmers coming up wait weekly jobless claims november imported mexico prices those numbers as soon as they hit the staple dow industrials up 57 points, s&p up 8 1/2, nasdaq up 40 points up two-thirds of 1% up next super bowl champ victor cruise in studio weighing in on a lift business adventure and more how are you -- >> good how are you -- >> thank you very much for being here great to see you. ♪ ♪ ♪
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maria: welcome back. good thursday morning. thanks so much for joining us. i'm maria bartiromo. it is thursday, december 13 breaking newsweekly jobless claims hitting a tape 206,000 we are expecting jobless claims of 225,000 so this is
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hitting the tape not major market reaction to tell you markets did begin to reverse course reverse earlier losses trade up, 30 minutes or so ago, dow industrials up 40 points s&p 500 up 7 and three quarters nasdaq up two-thirds of 1% weekly jobless claims coming out, better than expected in europe this morning take a look at numbers because we did hear, from mario draghi about to start his news conference, ft 100 down 5 and one half cac quarante up 4 points dax is up 30 points, mario draghi announcing he will end the bond-buying program, in europe, and we will wait to hear more about that, from him in that news conference that will take place momentarily asian markets in green overnight higher across the board shanghai composite and hang seng best there up 1 1/4% trade tensions look to be eegs between u.s. and china china reportedly making a major soybean purchase from united states i sponge with assistant to president for trading
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manufacturing policies peter navarro says that china's boycott of soybeans over tariffs would not have worked anyway, and here is what he said. >> here is the fact, maria they buy those soybeans regardless they need those soybeans, china is the hog capital of the world they eat 50% world's pork that pork fed by soybeans, and if they don't buy our soybeans they get inflation they get inflation they gets riots in tiananmen square. >> "the wall street journal" reporting this morning that china is preparing to increase access to foreign companies little by little seeing china change its behavior, latest numbers in gerri willis with reaction from floor of the new york stock exchange in terms of weekly jobless claims, and expectations for growth gerri good morning to you. >> good morning to you maria, traders down here talking about china, u.s. trade relations and to that point, we have comorlths dropping 1.6% watching this closely because we want to know if import prices are going to
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spike because of the conversation, and, of course, the tariffs that both countries are public sector on each other's goods weekly job claims 233,000 not a huge difference from the forecast of 226,000 not really moving the markets here, so these numbers will continue to watch because they could have big changes in the economy, as tariffs go into place, meanwhile, big healedline on general electric they are watching 1.2-billion-dollar industrial net they have a business like this, it will be wholly owned independently run by their own bordeboard of dire. >> j.p. upgrading stock from neutral off short list could be responsible for spike in stocks back to you. >> thank yge stock up 12% proba best move in years. >> top bizarre leaders entrepreneurs journalists athletes launching accelerated
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group called 100k ventures, it gives early stage companies based in flint, michigan a much-needed investment boost joining us to talk about it you super bowl champion espn/nfl analyst mr. cruz -- and 32 advisory ceo robert wolf thank you so much for joining us this morning. >> wleer so excited to break this with you -- >> thank you so much breaking this story here i know this is real important in terms of helping start-ups how did this all begin tell me about 100,000 ventures. >> i will take it pass to my founding partners we went on a bus tour with congressman tim ryan of ohio and congressman of sell-off, sell-off meets industri silicon valley meets industrial america you realize there is spirit there, entrepreneurialism like in new york and silicon valley people don't know about it teaming up
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with phil and david are doing amazing work they have ferris wheel started 100k ideas spent six months putting a group together of all types of entrepreneurs we are going to invest and help them in success. >> victor when you visited flint in october you saw lots of potential for start-ups entrepreneurial spirit is something that you mother from your fashion business, tell us what you saw. >> exactly, so just seeing entrepreneurial you know, energy in flint was amazing, and you had no choice but to help you want to give back you want to be able to serve under served communities similar to where i came from this is something i am well versed in to use that as a resource for these entrepreneurial people, in flint, michigan specifically is a beautiful thing. >> you are an entrepreneur yours what do they need where is the need in terms of these start-ups? what did you see that largely inspired you to join this? >> flint is a community of
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resilience struggle been through a lot i often think as entrepreneur i guided miles i didn't know if i had what it takes i see in girlss in my program i think being up being encouraged them to support them cheer them on, continue to legacy, that is already there in flint i think what we want to do. >> not just advice you are going to invest. >> we want to be clear this is not a foundation or a charity there are plenty of people that are giving back to flint, this is capital for goods, we are going to be investing in these companies, we call them accelerate because we are taking expertise why we needed a diverse group from backgrounds, help them this success we are going to put our name and our stakes behind it. >> is this a political group in any way? >> zero. >> zero. >> zero. >> -- what is interesting look at group jay mob green draimon wernlt to michigan state michael strahan, we have frank thomas we have michael, we
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couldn't wait to get michael we want to take to other cities, and so we have mina should harris, a diverse group we are very excited about it but now, you know once you launch you got to get to business next week we are seeing first idea. >> how tough when you started your business? >> what did you need. >> very tough, the biggest thing for me was just having people that have done it before in my corner having that advice, having those people use resources to my benefit and use picking brain i think that is one of the things going to entrepreneurs. >> what industry did you see what kind of businesses are starting up that you were able to witness. >> i think people don't realize, this is every other city has fashion has culture, has industrial remember you are auto industry next to fashion industry so when we were there we saw, you know we saw a toy maker, we saw
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fashion company we saw an app that is looking at how they can do medical devices. >> mental health. >> we saw some you know a former athlete sees so many athletes struggle once they leave thinking how he can offer support i think we saw every -- >> we should be clear off the platform phil and david started call 100k ideas, backed by foundation. >> i love that 100,000 citizens in flint going to help ourselves they do this where people come in entrepreneurs like consultants get a great book on where they are as a company, and then i felt when i saw it, with it a second, you are leaving them at it altar i raised my hand we want to be a investing arm, so we're going to be the investing arm we hope to take platform built to other underserved communities. >> has to be technology start-ups, technology changing
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automotive business do you see that from your business. >> so many technologies, technology is teaching everything the way we live and work i think for a lot of young entrepreneurs they see how technology can advance the issues they want to solve propitious they want to invest in i think oftentimes what i love about this literally a storefront you walk in say i have an idea on this, and there are a group of people there who are will to help you especially if one doesn't know how to code or may feel a little bit like, intimidated by technology we are there to support you invest in you -- >> every one thinks of flint say we're sorry i about flint i tell you go there, pride amazing i hope we are with you when we announce first investment with company because, i am telling you the spirit there, is no different than if you go to silicon valley new york city there is a feeling that oh you only can invest where richest people live we know that is so not true, by the way, you overpay
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with those areas, and this is we are very excited, having victor, obviously, and rest of the group, i mean, it took six months to get together. >> congratulations robert congratulations all of you on this, before you go got to ask super bowl picks. >> okay i am going i am going new orleans saints, against the new england patriots. >> new england patriots i don't care about the other one. >> -- thank you so much. >> thank you. >> changed a lot hasn't it, i mean, we got people coming up sometimes afraid of concussions afraid of -- a lot of things, as a result of football. >> it is true in turn you are seeing, little league football numbers drop plummet because parents are afraid of putting kids into little league football because of concussions injuries, get kids out playing football got to teach the right way to playthings start to change. >> maybe different equipment, to protect headed better. >> technology is always, in
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nfl cross all sports all platforms, so they got to get healthiest right it is hard because a violent support but definitely trying to get right from health and con suggs perspective. >> interesting point about little league, that is too bad great to have you, thank you so much great to have yous al a pleasure integrations. >> thank y >>. >> a congratulations. >> thank you for breaking the news we will watch the development we love entrepreneurial stories we will certainly be following it thank you so much president trump tweeted, this morning want to get to that he says, about michael conn i never distributed michael cohen to break about you have a he was a lawyer supposed to know law called advice of council a lawyer has great liability if a mistake is made, that is why they get paid, despite many campaign finance lawyers strongly stated that i did nothing wrong with respect to the to campaign finance laws if they even apply, because this was not campaign finance, cohen was guilty on many charges unrelated to me plead
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to two campaign charges which were not criminal of which he probably would say not guilty even on a civil basis those charges with just agreed to by him in order to embarrass the president get a much reviewed prison sentence he did including the fact his family temporarily receipt off the hook as a lawyer michael has great liability to me on heels of michael cohen getting surveillancer three years in prison. >> what amman is doing as holiday shopping comes to a close what downturn means could mean for housing market, under pressure 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
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get your insurance quote today. one no matter how much you order very small amount you get free shipping to december 18 as on the i should good isn't that astonishing vote of confidence of their part that they can deliver what is it a billion packages whatever hundreds of millions for sure, on time, right up to christmas. that is very impressive, what a logistical operation that is. and what kind of challenge
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does it pose to ups and fedex, who are also in the delivery business for holidays, can they match that kind of volume? and the confidence they will get it on time the right way? >> amazon is truly an extraordinary company and you know wouldn't be surprised if that stock price didn't get back up as well maria: it is up this morning. >> it is. maria: a trillion dollars in market cap. >> apologize i was going to say be careful being excited about what is free the stuff has to show up. which is a problem. >> they have a good -- dagen: over aek would supposed to be there a week ago still not here dhlb, us through brooklyn sitting there i am very angry, very angry. >> nonetheless have you steen apartment builds in new york city. >> amazon -- >> the main job of a door man
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everywhere in america is fix those amazon boxes get them distributed to the tenants something, it is. >> see you 10 minutes, looking forward to that, looking forward. >> joins stuart and company as i will, coming up housing slowdown is hitting the market whether a warning sign for the broader economy, theresa may survives for now, what that says for britain's exit from european union fallout of yesterday's no-confidence vote on the other side of this break. ♪ ♪
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maria: there has been a low zoun in the housing market as we know take a look at index
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rising rates a toll on border markets prices sales down joining us for exclusive interview ceo brian o'hara can you characterize why we are in housing market right now? >> yee good morning, everyone. nice to see you. you, too,. >> the tell a of two cities two parts of the country shifting you look at coast particularly california, some parts east coast, there is a slowdown, more inventory coming, we will see price pressure, however, if a lot of markets where job growth is up, wage are up, you are actually seeing some price appreciation and inventories hitting healthy market. >> so bifurcated market then? where are prices coming down hardest. >> inventory hitting into california so a markets what we see prices under pressure places like san diego san jose san francisco seattle, areas that we think are going to grow in pricing because the economy are healthy small cities yibdapolis phoenix even
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miami. >> if we see showdown next year looks like we are going to see do you see that maybe bringing back the housing market, a little bit, could this firm up or could you even see change in direction from what we've seen? >> i think you are right, if interest rates slow, there will be a twist back to the market, you have seen home or for example move out of the market home flipper tries get in good price adds value sell higher price i think people on fringe have been staying back because interest rates are risky not sure where they are going to end up don't know what buying side is a year from now if interest rates stabilize i think brings back housing in markets. dagen: it is dagen mcdowell the changes to the tax treatment of real estate, the cap on your property tax deduction the reduction in your he mortgage interest rate, deduction, has that changed psychology in the country, to the negative?
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in terms of home own should ip. >> caps hit higher income higher priced homes i think the people feel that april when they do taxes for the first time, so really know about a year from now do i think that is going to hit high end of the market a change makes housing more expensive at high end but for the majority americans wouldn't have a major impact. >> brian jails see fromman here "the wall street journal" i wonder if you can help understand we read about lack of inventory you would normally think entire of higher prices we saw chart showing case-shiller growth dropping. >> yeah there is it is really every market is very different real estate so matters where you are. for a while inventory has been restrained, housing starts slow, coming out of recession is a lot of home builders taking time much more conservative than past you have seen that tick up next year we see 7% increase in housing starts, now those will flow into market 2020 but you are starting to see the home building market come back a bit. maria: you just said that
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this cap that people feel once taxes in april will hit high end show you significant will prices drop on high end in your view next year. >> well, i think prices would have high home prices, new york city, certain parts of california, i think the price of housing will go up however, people that have diversified portfolio it brings more an value price for family community fabric benefits to life people need to live in a nice home going to continue to live in nice home not getting out of market more expensive higher end, people that can afford it will stay in those homes. >> good to see you thanks for joining us this morning, coming up chaos in uk political fallout after theresa may leadership is put to the test yesterday ashley webster live on the ground in london we are going to take you there next.
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>> welcome back british prime minister theresa may in brussels today trying to salvage from the european union from on the ground in london. good morning ashley. >> good morning maria she won the confidence vote yesterday but back in brussels and nothing has really changed she does not anticipate any immediate break through, with as she walked into that summit just about an hour ago. she had will meet face-to-face with the 27eu members this morning make her case to get a better deal on irish backstop is and leave the room and they'll debate it but i can tell you maria they're not going to spend a lot of time debate nothing deal i think is the message she's going to get that leaves bigger question what the heck is she going to do what kind of deal does she bring back to parliament to try to get through it is a cannundrum half brexit on the rise back to you. >> uncertainty of it all not
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good ashley webster is in plon don thanks so much for being here. james freeing man brian dagen mcdowell. >> don't talk to the fbi ever. >> take it to the bank. >> talking about general flynn situation for sure. have a great day everybody. "varney & company" begins right now. take it away stuart. >> good morning everyone. europe to brits forget about it. in no uncertain terms eu tells theresa may there will be no confession here's the, quote, there's no room whatsoever for a renegotiation of britain's exit from europe otherwise known as brexit a lame duck prime minister she says she'll quit the job before the next election. her chances of her coming away from today's european summit with a new deal acceptable to parliament those chances are slim and none. there has some market on this futures pointed to a triple digit gain look where we are now a gain of a


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