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tv   Mornings With Maria Bartiromo  FOX Business  December 14, 2018 6:00am-9:00am EST

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the dow, 1% on the s&p and better than 1% lower on the nasdaq, down 73 points on the nasdaq right now. and the markets yesterday, well, they were lows yesterday at the close, the declines we are seeing now put the dow and the s&p 501 on track to erase the gains for the week, yesterday the dow was up 70 points, the s&p was down a fraction and the nasdaq was down about 28 points tat close yesterday. check the markets in europe this morning on the heels of selloff going on wall street, european indices are down across the board, cac quarante in paris, down 41 points, almost 1% lower and the dax index down 1%, 102 points lower on dax index this morning. nikkei average worst performer, down better than 2% in session overnight. we are taking a look at china, talking tough on china, president trump touting trade success in interview with harris faulkner yesterday watch.
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>> i have great respect for president xi, but i will tell you this, china's economy if it's in trouble it's only in trouble because of me. maria: issuing new threat to general motors, president trump slamming the automaker again after layoff nounsment. the stock is at 35.11 a share. as you can see the chart has been lowering, caffeine on demand, starbucks expanding delivery program across the country, what to expect when making next order. view out of this world, virgin galactic reach space, unbelievable image. joining me to break it all down fox business dagen mcdowell, advisers market strategy michael block and lee carter this morning. good to see you. >> great to be here. maria: great to see you. >> another interesting morning in markets.
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chinese data overnight, retail sales making 15-year low, production 2 and a half year low and in france according to pmi, they are back into contraction there. we have seen the protests over there, well, starting to manifest itself, europe china not showing the growth that we have here and here we are looking for a trade deal, so there's a lot of growth slowdown happening. maria: we use today debate whether there was coupling and decoupling, i don't think is anybody's guess, yeah, we are going to see weakness in europe and asia and it'll hit the u.s., there's no decoupling going on. dagen: one of the major, three things weighing on the market, one one of the things that weakness oversees, very slow growth in the next year number one, number two, what the federal reserve is doing not just the economy but to the market in terms of the removing money from the financial system and the liquidity problems and
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volatility it creates there and number 3, it is the trade deals and do these headlines matter, does the tough talk matter, ultimately at some point the markets are going to have the administration put up and, well, stop talking. maria: we are going to see how this impacts things but the uncertainty of it in terms of what these tariffs mean for input costs and profit margins is questionable and that's what's weighing on the markets as well as interest rates. we have a fed meeting next week and we are expecting rates to go higher, joining the conversation tennessee congressman and house committee on appropriations member chuck with us, ceo of citizens financial group is back with us, bruce is here. blackrock cio, rick is here to walk us through what's happening in terms of interest rates and nco founder and ceo vanessa is here as well. we have big 3 hours, top story this hour, breaking news and then china is halting punitive
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tariffs on u.s. autos, car parts starting january 1st, this is trade tensions are hanging over the economy, china is going to be stopping these punitive tariffs on u.s. cars and auto parts beginning january 1, this is just happening, the wall street journal also conducted a survey finding that 47.3% of economists view on the u.s.-china trade dispute as the top economic threat for 2019, president trump sounding off on the trade tensions in an interview with fox news' harris faulkner on outnumbered overtime, watch. >> i established a fantastic relationship with president xi who is the head of china, the absolute head of china and i think we will work a fantastic deal with both countries but a fantastic deal for us, we will get china to open up. we have placed tremendous tariffs on china that when china sends things into america now they are paying 25% interest on everything they send in and we have only gone to a certain crunch, $250 billion.
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it's 25 on the first 50 billion and then it's 10 on the rest but goes to 25 on january 1st, but i released them of that temporarily until the end of 90 days to see whether or not we can make a deal. but just one thing, i have that i have additional $267 billion worth of taxes essentially to put on china and they don't want that, that would be devastating for china. maria: well, this is a big fight between the u.s. and china, it is more than just trade but now we see the news this morning, michael, china halting punitive tariffs on cars, u.s. cars, auto parts, your reaction to the president's comments and the developments coming out of china this morning? >> there's positive developments, the tariffs are going lower, we have seen u.s. joy beans flowing into china, we have seen those agreements made. the problem is the messaging is off here. this doesn't have to be a fight here. everyone wants the same thing, we want the best deal possible from the american vantage point.
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china wants to invest in the united states, china wants free trade. the data that we cited at top of the show is terrible overnight. they have merging middle class, xi has constituents here. look, president trump is going to engage in brinksmanship and i understand that, there's a method to the madness but there needs to be focus on positivity, markets will like that, economic confidence will grow if the message is positive. maria: what's positive about china stealing ip for decades? >> well, i'm not saying -- maria: what's positive -- these are serious issues. >> a, they want to open up markets and b, stay positive but we will not roll over and let ip theft happen. these are all factors that go into the whole equation, but doesn't have to be confrontational, it's more matter of fact, you will shut down this ip theft, this is how we are going to enforce it and this is part of the deal.
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dagen: i just want to point out, doesn't have to be confrontational but you're talking of a president trump that's confrontational, that's his nature. >> that's fine. dagen: focus on people get upset about the messaging, no offense, mike block, with all due respect, but the president is going to message the way he messages h. >> right. i was going to talk -- the president is a confrontational messenger especially on trade, he loves to talk tough, he's going to fight. i find fascinating this is a different matter in other trade deals he has made. fact that people are so nervous about this one is fascinating to me because he has made deals using the same model he's confident using the same model. i know china is different. i'm curious what it's going to take for markets to feel less an -- anxiety. i want to know what's so different this time. maria: i think he needs to see concrete changes out of beijing.
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you're saying how confrontational he is with china, good, i'm glad he's confrontational with china. this is a different situation and steel and aluminum tariffs with our friends. but china, they have been bad actor, they got behind boeing, they we wanted to surveil boeing with the most recent deal, they are behind the hack at marriott, these are serious issues. dagen: by the way i woke up this morning from fraud alert from american express and they suggested because it's because of marriott hack, somebody stole credit card. in terms of individual lives, it's hitting home and nobody knows whether it's china exactly but that credit card was out there and somebody stole it to love -- buy themselves lovely massages over christmas. [laughter] dagen: in terms of messaging and confrontational nature, i do
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think that the president has the right and the personality to communicate with the american people and the rest of the way the way that he does, i think he starts to get into difficult territory where people in the administration try to be president trump in terms of the way that they are speaking, in terms of talking about the market, talking about interest rates, i think that that doesn't help in terms of what you're hearing out of the white house. >> look, i'm not president trump either, maybe you should consider me, i'm not wearing white, it's after labor day but i'm like the angel sitting on a shoulder. [laughter] maria: this is new information this morning, what are your thoughts of china halting additional tariffs on u.s.-made cars? we are seeing little bit of progress and i don't know if we should be believing it or buying it or not with yesterday with the journal story that they want to open up markets, want to get handle on ip. dagen: journal reported earlier in the week, 2 or 3 days ago, that china would lower punitive tariffs, we should point out that the tariffs started at 25%,
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import tariff on american manufactured automobiles, went to 15% and then when the trade fight with the u.s. heated up during the summer it went to 40, so it looks like they are just reducing it back to the 15% was the report that i read earlier, but -- so this is just a cooling of tensions, if you will. maria: yesterday we reported that china will buy all of the soybeans, right, $1.2 trillion in agricultural purchases overall. well, if they are going to buy the soybeans they are going back to what they were buying before they started to pull in, so again we are basically at the beginning once again. this is not new that they are buying the soybeans. >> this is what's interesting to me, there is progress, little tea leaves that you're seeing, some things that are positive and the markets aren't necessarily responding and people are still nervous, number one concern.
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the president talked tough to canada, he talked tough to méxico, deals got made. he's talking tough to china and deals are starting to happen. i'm curious when is that going to take hold. >> ted cruz works, a lot going on in markets is pain, i know we want to talk about gm, gm stock not doing well, look at the stock that's doing well, tesla, there's a lot of pain out there in markets, we are seeing more of that this morning. when a stock like tesla is going up and not gm, there's a lot of dysfunction. this is -- dagen: or investors are smoking what elon musk has been smoking. maria: i'm with you. dagen: in terms of euphoria around that stock, euphoria is a drug, you know, market euphoria is like a drug. >> i'm sticking with pain. maria: has tesla made any money? dagen: they turned profit the most recent quarter.
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>> let me say, if so it's because elon musk has stopped with the distractions and focused, what does that tell you? maria: meanwhile the president in the interview made it clear about how he looks and feels about general motors, watch this. >> they changed the whole mood -- model of general motors. all electric is not going to work, wonderful to have as percentage of cars but going into model that she's doing is a mistake but to tell me a couple of weeks before christmas that she's going to close in ohio and michigan, not acceptable to me and she's going to open fast or somebody else is going to go in but general motors is not going to be created well. maria: not going to be created well, they did get a huge bailout, dagen. dagen: they still owe the u.s. treasury $11.2 billion, that's what the u.s. taxpayer lost on the deal. this is the problem with bailouts, opens you up to criticism, but i will point out to president trump, if gm doesn't make changes, it's not
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about electric vehicles but stop making small cars like the impala that people are not buying, focusing on suv's and pickup trucks because we have 25% import tariffs on light trucks so that's a subsidy for all the u.s. automakers, let them operate the business, you want them to be healthy otherwise they will come asking for another bailout down the road. maria: that's right, they should be able to operate the business the way they want. they are not buying small cars, people want big suv's, that's what it is selling, that's been the case for a while even with oil where it is. dagen: absolutely, i will point out what's going on with china with electric vehicles, oversupply that they are trying to rectify in terms of policy in china. maria: short break, starbucks right at your door, hope to go boost sales with new delivery service, we have details right after this break, a billion dollar view, check this out, virgin galactics brings closer
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brothers in blue in tears outside of the hospital. this is the 46th officer shot and killed in the line of duty this year. well, let's head overseas, french government reportedly looking for a new ceo to replace carlos goshn after indicted in japan for underestimating compensation. board is resisting pressure to fire goshn, goshn dismissed as chairman of nissan motors, reno's partner arrested. shares of renault down 36%. starting early next year starbucks is going to be offering delivery about 2,000 starbucks stores across the country are going to partner with uber eats to bring a cup of joe or latee to doorsteps, plan to investors in new york, broader plan to reach more customers, trading lower in premarket, down more than 3%, we
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are watching a broader market selloff right now. cosco sales numbers surge in last quarter but fell short of expectations, same-store sales grew 8.8% but sales totaled 33.3 billion, down 3 billion below expectation, the stock is down about 3% overnight. up 22% so far of the year but stock is under pressure this morning and those are your headlines, maria. maria: that chart of cosco looks good, starbucks, delivery, good move. >> i'm ready for it right now, can it come right now? i'm waiting. everything is becoming more convenient, people are loving things to get delivered, don't want to get out, why not, see how it goes for them. dagen: amazon is separating from insta cart, will use delivery, it's not great, so i think that if whole foods take charge of
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own delivery is better for them. maria: they could because they have own delivery service, when we come back software failure, doj's deflection on why so many of peter strzok and lisa page's text messages went missing. take a look at the pictures, we will tell you what happened when the truck unloaded all this cash on the ground, stay with us.
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yippiekiyay. ♪ mom. ♪ >> hopefully the fed won't be raising interest rates anymore because if you compare us to as
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an example president obama, he had zero interest rates, anybody can make money with zero interest rates, i'm almost at a normalized interest rate and yet our economy is soaring, our jobs are soaring, our businesses are doing tremendously. maria: that was president trump reiterating stance on federal reserve, central bank holding last meeting next week, we are expecting rates to go higher at the meeting. joining us florida banker association alex sánchez, good to see you. >> thank you for having me. maria: are you expecting the fed to raise rates an what's the impadget from your standpoint on smaller and regional banks? >> i think the fed will slow down now wait and see to see how the economy is doing as we head into 2019, so i think in talking to my bankers i think they'll be a slowdown in that process. maria: because you think the economy is slowing? >> yes, i think so, i think so. >> you think they will not announce one right now? >> i think -- that's a difficult
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one. that's going to be a difficult one, lee, but i think china, we obviously are waiting for a deal to be made with china, i think that's going to help confidence again. i think people are on pins and needles. the president is doing the right thing. that's something that needed to be done years ago but, you know, people are on pins and needles waiting for agreement to be done and so i think the fed is going to, you know, see how the global economy is doing and how that impacts our country. >> alex, earlier this year wells fargo over the summer they -- they -- during earnings they commented that there's a lot of competition amongst banks in commercial lending, are you still seeing banks competing a lot for commercial loans, if not it sounds like there might be a slowdown, you know what can be done to encourage more borrowing frankly to get the economy going? >> i think, you know, look the banks are in the business of lending, they want to lend, if they don't lend, they don't eat,
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so we want to lend but to the right customer who has the right financials who can repay obviously, we certainly don't want to get back into an '08 situation, it's competitive environment, even with the -- we are at historical low in numbers of banks in the country and i think that's an issue that we should all be concerned about, we are down to 5,000 or so banks. maria: down from like 9? >> right down from 1920 years ago, so we are not seeing the start-up banks like we used to. we have four in florida, that's a positive, investors are coming back in and investing in community bank to grow it and serve the communities that they are end but chairman mcwilliams came out last week and she's she's very concerned that there's not enough new community banks being put up in the country and so i think congress needs to start looking at these issues along with many issues.
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maria: congresswoman maxine waters set to take over as chairman as house financial services in new congress, what do you think her -- her agenda will be, what are your expectations? >> maria, she's a -- she's been a long-time member of congress and she's got two routes to go, she either uses her subpoena powers to investigate the president and and different industries or she will look at ways to improve this economy to keep this economy strong for -- not only for her constituents but all americans and i think there's a lot to look at there if you're chair maxine waters like extending community reinvestment to credit unions who do not reinvest back in the communities like banks do, look at bsa reform on bipartisan basis last week, senators cotton and warner. look at reforming the system that hasn't been looked since
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the 70's, bankers are spending lawsuit of money being the police enforcement agency for our government and i rather see our banks redeploy those assets to your point because back into the economy, for every 100,000 -- maria: is that the reality? is that what she's going to do? what are your expectations in terms of what she's going to do? >> hopefully with senate, senator warner and other who is are looking at this issue that will help the chair, you know, enforce her hand to look at issues to follow her democratic colleagues. there's so much positive that we need to do to help the economy, for every $100,000 our banks spend on compliance costs it's $1 million less we lend in the community. so she needs to look at issues like that, low-income housing and look at all the things banks are doing to promote that. i know that's an important issue for her.
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she needs to look at the number of community banks that we have at the lowest point in our nation's history. she needs to look at ways to work with chairman mcwilliams at the fdic to increase the number. there's so much too do. right now 33 states have legalized marijuana in one way, shape or form and they cannot get banking services, they have former military veterans guarding warehouses with moneys from the floor to the ceiling because they cannot get banking services, so we need to look at issues like that. there's a full agenda that maxine waters and i hope she chooses to road to -- to look at ways to increase the economic activity of our country. maria: we will see about that, alex, good to see you, thank you so much. alex sánchez joining us there, coming up, citizens financial group, talk about lending and the overall economy with him. stay with us for that, first pay up, artist behind mega hit force
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maria: welcome back everybody, good friday morning, thank you so much for joining us, i'm maria bartiromo, friday december 14th, top stories right now 6:33 a.m. on the east coast. the bears are up early this morning take a look. markets are once again under selling pressure this morning. down 217 points on dow jones industrial average, down 23 on s&p, both down almost 1%. nasdaq down better than 1%, 73 points lower on the nasdaq. this on top of mixed story yesterday that dow industrials were up 70 points but s&p down a fraction and nasdaq gave up
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about 28 points on the session yesterday at the close. in europe this morning, the indices are lower. ftse 100 down 56 points, cac quarante down 50, better than 1% and dax index down 112, also down 1%, asian markets down across the board, worst performer was japan as you can see. breaking news this morning, china set to halt punitive tariffs on u.s. autos and car parts beginning january 1st, plus texting scandal in department justice reporter: technical glitch caused texts between exfbi officials peter strzok and lisa page to go missing, details coming up. drivers on new jersey highway scrambling to get as much as they can as armored truck spilled money during rush hour on the road. incredible pictures. plus heading to final frontier, new milestone in space travel. all the stories coming up this morning, but first, top story
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right now and that's markets in focus, futures indicating a selloff at the start of trading this morning, over more uncertainty over government shutdown and u.s.-china trade, we have the federal reserve meeting on interest rates next week and investors are taking their money out right now, bank of america merrill lynch says equity saw outflows. according to america's data, largest weekly exit on record. joining us optimal capital director of strategy and market analyst francis along with alpha innovations larry. your reaction to this volatility in the market, francis. >> yeah, certainly the fed is tightening, the aggregate money supply is reducing and traders are no longer fulfilling areas and rotating in things that they will do areas and areas that have sold off. maria: what do you think in.
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>> if the fed continues to tighten throughout the next year we could be in bear market because i think it's going to put pressure on debt markets, record amounts of dleñ in the system, student loans, credit card debt which is default and you raise interest rates and they are quarter points but over large amount of money in the system after quantitative easing that's a lot and puts pressure on debt system, we will secret problems. 9 trillion outstanding. >> we have volatility that has investors nervous in that and it's normal. >> where is the alpha going to be in 2018, where investors can go to outperformance, you mentioned merging markets, is that an area you are focused on and what else?
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>> sure, it's hard to pick -- generate alpha, you know, as long-short generalists. it's very, very difficult. you have big players competing with each other, trying to find alpha. there's much more opportunities there. more efficient and there's been a real pullback from those markets. so em is certainly one that i would be looking at if i was looking at equity strategies for sure. >> what's a catalyst there for em, what countries can lead, is it china, brazil and méxico? >> i think more the latin american countries versus china at this stage. dagen: francis, i want to ask you about the federal reserve, the markets are already basically told the fed, don't keep hiking interest rates every quarter next year. when the difference between the two-year yield and the 10-year yield got down to narrowest
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level in what 7 years, i think it got down to 11 basis points or .11 percentage points. the market -- and then the fed place it is story in wall street journal and says, wait, wait, we will take a wait-and-see approach next year. so is that really a worry at this point because the fed -- it's pretty clear that after the rate hike next week which is still expected, some people put the odds at 50%. >> expected. dagen: next year looks like that worry is certainly on the sidelines if not wiped away. >> remains to be seen. can quantitative easing we never unbalanced the amount. dagen: which i've said on the show all year long that you don't know what the impact will be because you're unwinding
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something that we have never seen before. >> totally. most interesting thing about it they are looking at unemployment and jobs and those are lagging indicators, what they are doing reducing money supply which is a leading indicater and those are lagging indicators, takes a little while for things to filter through the system before you see effects which sometimes they get caught off guard as we have in the past. maria: talk to us about alternatives because hedge funds for one according to hedge fund research, the number of hedge funds launched is at its lowest level in 18 years. the number of funds being liquidated also declining, however, we know that hedge funds have not done well, where are you in terms of alternatives? >> alternatives we do direct private equity, we are selective with hedge funds. obviously we have exposure, millennium, paloma, has great performance, winners and losers
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in hedge funds. the reasons hedge fund industry is suffering in general is the compression. it's going to favor passive. if you saw volatility in february, actually vialed because the end writers don't let you have human intervention. as volatility rises hedge funds will come into favor. maria: equity part of portfolio is not etf's? >> mostly mutual funds that represent all of the major sectors, you know, u.s. equities are only 5% of portfolio right now. we are underweight u.s. equities. maria: what do you do on a day like today, are you a seller? >> we have sold a lot already. we are waiting to get back in. we are looking for a bit of a bounce in january, i see a bottom building for a little bit of potentially bear market rally but if we are in bear market
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it's determined by the fed. maria: larry, are there opportunities right now with valuations coming down the way they are, where would you be putting bets? >> right now -- what hedge funds should be doing is actually focusing on security selection and not taking market especially at this point in the cycle. if you look at where a lot of hedge funds have done poorly this year is because they've had data in portfolios. if you strip away beta -- dagen: what does that mean? >> market exposure. they have been writing the tail-wind of market exposure, they have paid that back or investors have paid that back in october and -- and in november. so i think the managers it will do well in upcoming market are the ones that aren't taking systematic risks and portfolios and focusing on what they do
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best which is security selection. maria: we will leave it there. great to see you both. coming up the case of the missing texts, more excuses from the justice department. now they are blaming glitch for losing texts. real cash, spill causing nightmare for commuters, everybody we wanted to stop the cars and grab dollar bills. keep it right here. alerts -- wouldn't you like one from the market
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♪ ♪ ♪ maria: big selloff coming this morning at the open, meanwhile get this, the justice department blameing hiccup. cheryl casone with details, cheryl. cheryl: tick nicole glitch prevented investigators from discovering text messages from lisa page and peter strzok. special counsel claims there was
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no substantial text messages on the phone before it was reset separately federal prosecutors in manhattan are investigating whether president trump's 2017 inaugural committee misspent some of the record $107 million it raised from donations, big report on wall street journal that came out yesterday. they are reporting investigators are examining whether some of the committee's top donors gave money in exchange for access to the incoming trump administration which could be a violation of federal corruption laws, the white house says it has no knowledge of the investigation, we will keep you posted. well, this was interesting, chaos in a new jersey highway yesterday after cash spilled out of a security truck, drivers jumping out of their cars, yeah, grabbing handfuls of bills, this resulted in multiple accidents, maria, and heavy traffic during yesterday's morning commute, metlife stadium right outside of new york city.
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cheryl, they weren't dancing yesterday. a judge ruling thick and writer pharrel must pay gay's family, they will earn half of blurred lines loyalty in the future. one more thing for you, maria, big step toward tourism with test flight yesterday, spaceship climbed more than 50 miles about california's mohavey desert, virgin galactic to send humans to space without support of government agency. this is cool, space is virgin territory, i kind of like that, i will say chatter on twitter
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about new jersey cash crash that folks are going to be in trouble if they don't return the money and if police have put out alert if you have any information about the folks that were seen on the road please contact us. i wonder -- maria: there must be cameras around in terms of checking out license plates. cheryl: multiple accidents. come on, folks in new jersey. dagen: thanks for reinforcing the national attitude of people in jersey. stupid, get back in your car. [laughter] >> as we call in new jersey -- [laughter] maria: coming up two marvel movies hitting the silver screen, the first since passing of marvel legend stanley, full box office report next up. this is not a bed.
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>> if i don't destroy the colider none of us will have a home to go to h. >> what makes you different is what makes you spider-man. >> officer, i love you. [laughter] >> wait, what? maria: that was clip of new comic book blockbuster spider-man into the spiderverse, swings into theaters today. we saw this animated. >> different take on spider-man franchise. visually it's captivating. they have grossed up to $2 billion all the different various spider-man combinations combined. this looks to probably
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$30 million. maria: i'm a fan. i like the spider verse, opens up to a whole universe of spidermen and women. >> a lot of spider people in the movie. something different. thumbs up. maria: once upon a dead pool, deadpool 2 also in theaters, your take on this? >> i loved the movie when it first came out, ryan reynolds is looking to expand audience, rereleasing at pg version of it. definitely fun. new footage, so if you have seen the original you will want to see this one as well. maria: the first marvel films released since passing of stan lee. >> they did edit him into this one, very touching tribute post credits and audiences will want to stick around to see at the very end. maria: do you think that impacts people going to see him because he just passed?
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>> definitely. he's the one that made it all possible. he's icon. absolutely. maria: opening this weekend the mule. does it live up to the hype? >> i cannot wait to see it. clint eastwood is 88 year's old. i'm told some of his best work to date, directs and stars in the movie. i think back in 2012 he was retiring, he said anything but, he's american treasure. he's fantastic. maria: he really is. mortal engines hitting theaters, expectation, blockbuster? >> probably $10 million, based on novel. universal. [laughter] maria: you have highly-anticipated movies though
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that are making debuts as they always do at the end of the year, around christmas, mary poppins returns, bumble bee. >> pick one. i don't know where to start. 2018 is shaping to be the best box office in american history surpassing 2016's record of $11.4 billion and i have to say since i've been doing this, it's probably the best year in terms of covering movies. the movies have been so good. maria: they have been really good. >> right out of the gate with black panther in january breaking all sorts of records and disney number one. maria: movie theaters are doing their fair share, they've gotten better. >> yes. maria: even i went out to the movies, i stopped going because they were disgusting. >> that's the key, maria bartiromo. sales are not only up but attendance is up, more people are going to the theaters than ever before. that's the big tick away. maria: i saw a star is born, gorgeous.
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love. >> love. [laughter] maria: good to see you, still ahead seat on trading floor, being accused of using fake traders to impress snap ceo, they we wanted want it to look e were more people on the floor. (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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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. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, december 14th. your top stories right now. stocks are selling off again this morning, take a look. weaker than expected economic data out of china overnight and uncertainty over europe's economy weighing on investors this morning. there's a decline of 188 points the start o trading. the nasdaq is down 1%. this after m the markets were little changed yesterday. dow industrials were up 70 points at the close. the nasdaq was down a third of a percent. in europe, similar story, down across the board.
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fq100 down two-thirds of a percent, cac down 1%, dax index almost 1% lower as well in germany. in asia overnight, declines across the board, nikkei average in japan the worst performer, there you see the european markets. asia also down across the board with the japanese market down better than 2%. we are watching china. it is in focus again this morning. beijing reportedly suspending additional tariffs on american made cars. what it means for the trade truce coming up. little by little, we're seeing china make some real moves here. shutdown showdown is on. the government could shut down in a week if a deal is not made. president trump is calling on democrats to come to the table. >> the fact is, they've always supported fences and walls and partitions, but you know what, they only don't want to do it because of me. they have to put the people ahead of politics. maria: what lawmakers are expecting on the hill a week
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from today, that's coming up straight ahead. british prime minister theresa may under pressure. european lawmakers are pushing her to break the deadlock within her government, make a move, theresa may. the new york stock exchange under fire after it reportedly brought in fake traders to make the floor look bu busier than it would have otherwise, that's all to show the s.n.a.p. ceo how busy they are. joining me to break it down, dagen mcdowell, michael block and lee carter. great to see everybody this morning. >> dagen: great to see you. let me say about hiring basically background actors to wander around the floor of the new york stock exchange, made famous by maria bartiromo, by the way. i want to add that. maria: thank you so much. dagen: it's changed a lot since you were on the floor. maria: at one point when i was on the floor in the peak, there were five rooms with 5,000
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people on all of those floors. in all of those rooms. today, there are under 500 people in one room. >> you could play a full court game of basketball in there now and no one would notice or get in the way. maria: there was a time when the traders were there, busy, trying to get orders in and every second mattered. it's a different time right now because of the digital trading opportunities. >> evolution. dagen: so much going on in the markets today. maria: we've got a lot coming up this morning. joining the conversation is the ceo of citizens innocenceal fin, along with the cio of fixed income, rick reader is here, he will of navigate interest rates for us. and vanessa ogil is here and stuart va varney joining the conversation as well. we kick it off this hour on the shutdown showdown possibility. a government shutdown is potentially a week away as lawmakers are struggling to find a compromise on border funding.
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president trump is calling on democrats to support border security to avert a shut down. nancy pelosi said it is not the democrats who are standing in the way. watch. >> let's not talk about what might happen. let's talk about what we can do right now to keep the government open. there is strong bipartisan support to do that. the only obstacle is the president of the united states. maria: this comes as border officials announce a mission complete and begin sending 1700 u.s. troops at the southern border home. joining us right now is tennessee congressman and house appropriations committee member, chuck fleischman. thank you for joining us. what's your take in terms of the latest at the border right now. can the troops start going home, in your view, or do you still have a border problem? >> there is a border problem. that's why we need to fund the wall. that's why the president is right. that's why the house 0:pr appros
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committee was correct in voting to fully fund the wall. the democrats on one hand have had the rhetoric where they say they want the wall and border security and they change their mind. i think they're trying to make it about the president and we can't let that happen. maria: nancy pelosi said we have bipartisan support and it's just the president standing in the way. is that just a talking point? is that just wanting to fight and not get anything done? because it's not in step with what you just said. >> when you look at the rhetoric that we have seen, they say they want border security and they repeat it whether it's pelosi or schumer and then their actions don't match up with that. let's face it, $5 billion is not a lot of money for wall funding. this is a position that is very reasonable. the american people want it. the wall is being built. we've had some funds committed towards that. but we have got to keep america safe. i don't know why they're doing this now, why they're choosing
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to pick this fight right now. but it's a fight that the american people don't deserve. the american people deserve border security. they want the wall. the wall needs to be built. maria: maybe they don't want president trump to have any victories. we know all of these investigations they're gearing up to do in the next two years. as you gear up for the next congress and the house appropriations committee and it will be making history, what are you going to do in terms of ensuring that you get things done and it's just not a lot of bluster? >> it's another excellent question. as you know, my past history as p ain the majority has been successful. the committee has gotten the bills done. we're moving towards what we call regular order, doing the people's work. clearly it's going to be more challenging in the minority. the republicans control the senate. the democrats will control the house. that includes the appropriations committee. i think what we're going to have to do is get down to work, make sure that we fund the
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government, keep these key programs going, and doing the people's work. will it be challenging? sure it will. one thing that's different. as an appropriator as opposed to someone -- what i mean, someone who is involved in the discretionary spending of the government, whether that's defense, whether that's the wall, homeland security, there is usually a little bit more of a comedy between the parties on that as opposed to the authorizers. hopefully we'll be able to get the work done. the key will be, will the democrats set the tone for a fight against the president early? i hope not. or will they say let's get down and continue to do the work that the house has done in the 115th congress which i think has exemplary. maria: what are the odds of a government shutdown one week from today? >> 75% of the government has been funded. defense, i don't think we need to scare the american people. defense, energy and water, a lot
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of those bills have been funded. the 2 a 5 2 -- 25% that is out , there's a potential for that, let's hope we can avert a government shut down, especially right here at christmas time. the economy's doing well. the country is upbeat. so i'm going to continue to be the optimist and hope the democrats back away from this dangerous rhetoric, back away from this dangerous position, candidly i think it's an untenable position right now. maria: let's talk about the appropriations committee. it's about to make history, two women are poised to lead the committee for the first time year. we've got nita lowy. kaye granger will be the panel's top republican. you currently serve in the committee. how significant is this for congress and the u.s., in your view? >> i think it's important that we continue on both sides of the aisle to promote women and women in leadership. i know both ladies, congress
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lowy is from new york. i have a good working relationship with her. kaye granger will be the top republican on the committee. another outstanding lady. they will work well together, i think. in addition to that, we're going to see more subcommittee chairman who are women on appropriations. marcy captor, the longest serving woman in congress, will chair a committee. hopefully we'll be able to reach common ground and make sure we fund the government and do the right things. but it's all going to depend on what the democrats do when they take over the house. will they let the president lead and do his job? i think he's doing an outstanding job. or will they attack him? if they attack, we'll have gridlock. if 24 worthey work with him, wee congress. maria: they wouldn't even look at his eyes the other day when they were in the meeting in the oval office. by the way, do the republicans
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have a problem with women? when you look at the new congress right now, you've got many more women elected on the democrat side versus the republican side. and there's speculation that you and your party have real issues with suburban women, college educated women. what are you going to do about snit. >> we're going to continue to promote women. look at marsha blackburn, she served in the house with me, she won a great victory in tennessee. she's going to serve. we have more women moving into leadership in the united states senate. some of those losses have been women going to better and stronger positions. we have many women in the cabinet. i think what we need to do is stick with our strong republican agenda. we want a strong economy. we want to make sure that we fix health care in a way that all americans can benefit. yes, i think we need to continue to message to women and continue to make sure that women have an opportunity, whether it's creating a business, whether it's in the workplace, and let
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me give congress credit. in the house, we voted to make sure that no person, no man, no woman, will ever be subject to sexual harassment again. we're seeing progress but there's always progress to be made. maria: real quick on trade, congressman. do you see an end to any of this in the first quarter or in the new congress, the usmca is being debated, a lot of democrats say they won't sign it, won't vote for it, rather, as is. there could be changing coming there. there's the open question of china as well. >> trade is work in progress and it will be for quite some time. it looks like china just bought some soybeans yesterday. that's a step be in the right direction. let's face it. the issue with trade with china is about intellectual property. it's larger than just trade. but when you look at europe, the eu, when you look at canada, mexico, this is going to take some time. it took us a long time to get into this trade war, get into this trade mess, get into the trade deficit. it's not going to change
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overnight. give the president credit. he has made tremendous strides. i've been a long supporter of the president. i was over wel overwhelmed by te successes had so far. i'm a free trader. my state has benefited from free trade. he's getting people to the table and let's hope some day we have a world, the optimist in me says where there's no tariffs, no trade barriers and we can have truly free trade and america will win. maria: the president said that's what he's looking for. it's good to see you this morning. thank you. coming up, the trade tensions are apparently easing with the news today, china making moves to apiece the united states. holding off on key auto tariffs. we're breaking down this major move. tesla is cutting prices in china. fake it until you make it, the new york stock exchange is being accused of hiring fake traders to impress a ceo. back in a minute, right here. ♪ i'm going to take you away.
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maria: futures are lower this morning. we are expecting a decline at the start of trading to the tune of 200 points lower, down 1% on the dow, down 1% on the s&p and 1% lower on the nasdaq, 68 points lower right now. a lot of nervousness over trade, among other things. the christmas market in france is open again this morning after what that deadly attack this week. cheryl casone has the details there. cheryl: yeah, maria. the 29-year-old who killed three people and injured several others at a christmas market was spotted by french police over a mile away from the scene of the crime. he started firing at officers but he was killed by those officers. the mass shooting tuesday triggered a widespread search for him. isiisis has claimed responsibily
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for the attack. well, this is a good story. the new york post is reporting that back in late 2016 executives at the new york stock exchange ordered dozens of regulatory staffers down to the trading s floor so it looked busier than it was, as part of a plan to impress snap's ceo, the former nyse president disputes the story. he said siegal never toured the nyse. thewe'll show you the video.you. here is this, lvmh making room in the portfolio for a hotel operator. they're a luxury goods company but they're buying bellmond for $2.6 billion. 40% premium over the stock's closing price yesterday. the hotels include chip riani in venice. shares are soaring in the
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premarket, a 40% jump. how about a roller coaster ride on the high seas? we told you about this when it first got announced. a new carnival trip will have the attraction on the top deck. it's the first time a roller coaster has been on a cruise ship. it's going do be called bolt ultimate sea coaster. it's going to be an 800-foot series of drops, turns and twists at speeds of nearly 40 miles an hour. shaleshares of carnival are dow% this year. if you want me to do the roller coast r, i'll do that for you. maria: i'm not doing it. cheryl: i bet it would be fun. maria: you have a little daredevil in you, don't you. cheryl: big time. yes. maria: were you on a roller coaster and you were filming is, that was hilarious. cheryl: screaming the entire time. dagen: it's not the roller coaster that's scary, it's being on the cruise ship with all those people. >> you're saying we're not going to do the show from the boat?
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>> do they close down the roller coaster after the all you can eat buffet? how does that work. maria: coming up, does anybody smell chicken this morning? here in the studio? you're not going to believe this. okay. it's a fire log that smells like fried chicken. how you can get your hands on this fire log to make your home smell like fried chicken over the holidays. we've got it here. plus, oprah mott pulling her weight-not pulling her weight apparently, wall street analysts worried about her role at weight watchers and what's going on with the stock today. it had a great run under her leadership. we'll check out what's happening now at weight watchers. stay with us. ♪ all my ex's live in texas. and texas is the place i love to be. ♪ jardiance asked-
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maria: welcome back. oprah winfrey apparently not seen in the marketing for weight watchers in a while. lauren simonetti has the details in terms of analysts complaining about oprah winfrey. lauren: let's take a look at what this is doing for the stock price of weight watchers. if you look at the chart since june, the shares have been cut in half. it was $103 in june, closed at $49.77 yesterday. you spoke about oprah winfrey, which reminds us of the good old days. watch this. >> this is the joy for me. i love bread. i love bread. i now just manage it. so i don't deny myself bread. i have bread every day. lauren: i have bread every day too. you remember a that the he three famous words, i love bread, saying that in a gluten free world, that did wonders for the company. oprah winfrey still is at the
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company. she still sits on the board. she has a sizable stake in weight watchers, which is called ww, by the way. she has a stake and a big presence in ww. she hasn't been in any of the marketing. they've turned to other celebrities including d.j d.j.khalid. oprah has her own line of nutritious food, pizza, soups and sides and competition from hello fresh, whole foods, plated, blue apron, so there's competition on a lot of sides and moving parts to this story. they've been losing subscribers and when she first did that commercial in 2016, they actually -- i think in the quarter after, they boosted their numbers by like a million. so that was a win for the company. so oprah, your contract is up in 2020. where is your voice now? because recently ww needs you. maria: the stock did really well initially when she came on board as you said. i'd like to know what happened
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since june. it's got to be more than just oprah not being in the marketing. >> q2 they had an upside surprise. this is a stock that investors love to hate. it's a stock that the consumer-based traders, the hedge funds love to short the stock. you had a big squeeze in this. maria: all the competition. >> and then everything dropped out. we're seeing consumer under pressure. there's a lot of fact. dagen: we're not seeing the consumer under pressure. >> some of the retailers, look at costco overnight. the numbers are okay. the stocks are coming in. dagen: that was -- >> there's a lot of competition in habit forming apps and other things. you don't just need weight watchers to track, there's my fitness tracker. >> instead of counting calories and writing down what you eat, it's about being healthy in general which we thought was behind the ww name change. they said not really. dagen: if you want to lose pounds, it's one of the easiest
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ways to do it. what were you going to say? >> i didn't mean to interrupt. oprah hasn't tweeted about her weight since january of 2017 when she said she lost 40 pounds. maybe if she tweets that the 40 pounds is still off or she lost more we'll see nice movement in the stock again. i'm serious. the power of celebrity. >> wouldn't surprise me. >> the stock price follows her weight. >> do you remember what she did to the beef industry on her talk show. dagen: weight up, stock down. there you go. maria: thank you, lauren. the trade dispute continues but beijing is moving closer to making some changes. we're going to check on the conflict between the u.s. and china when we come back and how it's impacting markets. between a rock and a hard place, the details as theresa may tries to salvage the u.k.'s exit fromm
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the european union, coming up. ♪ upside down, boy you turn me. ♪ inside out and round and round. ♪ upside down.
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maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, december 1s december 1-december 14th. red on the screen this morning, take a look at markets, down across the board. it's going to be another rough opening with the dow jones industrial average down 200 points, almost 1%. s&p 500 down 22, also almost 1%, the nasdaq with a 63 point decline, almost 1% lower there as well. this after the major indices finished mixed yesterday. dow industrials were up 70 at the close. the nasdaq was down 28 points yesterday. in europe this morning, similar story. we are looking at sellers dominating. we had the flash purchasing managers indexes in europe. they were weaker than expected. we had china data overnight that was weaker than expected on the economy there. and that is weighing on investors. fq100 down three-quarters of a
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percent in london, cac down 1% in paris, the dax index in germany down almost 1%. asian markets all lower overnight. the china industrial production numbers and the gdp were below estimates. shanghai composite down 1.5%. u.s., china trade, china is halting additional tariffs on u.s. autos and car parts beginning january 1. plus, this, get a move on. we hit the first deadline to get presents shipped on time for christmas, a couple more days left. 11 herbs, spices and fire, details on kentucky fried chicken's new fire log that will have your home smelling like a bucket of kfc for the holidays. yeah. all right. [ laughter ] maria: asian markets overnight lower across the board. china hit after reports that the chinese economy suffered a deeper downturn last month than expected. the slowdown could be made worse by a trade conflict with the
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united states if an agreement is not reached within the 90 dated line. markets in the us reacting to the downturn in asia as well. markets are under pressure this morning to the tune of 200 points lower on the dow. now, you new reports this morning that china will halt tariffs on u.s. autos and car parts beginning in the new year. joining us right now the wall street journal editor, john hilsenrath. they broke the story that china would halt tariffs. how important is this or significant? do you think this is a turning point in these discussions? >> well, i do think that the discussions are progressing. this relates to everything that you just reeled off on the chinese economy and the global economy. both sides are being hit right now. the u.s. economy looks like it's slowing down, certainly the u.s. stock markets are very weak. china's dow slowing down even m. retail sales in china were among
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their worst i think in the past 15 years. so the chinese don't like what's going on with the economic backdrop. as a result, i think you see them trying to make some concessions. one thing we should say about the auto tariffs, part of what they're doing is unwinding retall ya tori tariffs that they put on a while ago. there's still a long way to go before -- from the trump administration's perspective, there's actual progress on addressing the concerns they've raised over the last few years. dagen: it certainly, john -- it's dagen mcdowell. i pointed out -- >> hi, dagen. dagen: the wall street journal broke the news i think on tuesday that china was going to move to do this, particularly on the punitive auto tariffs. so they go back to 15% which is where china had reduced them in the middle of the year before this fight broke out with the united states. but it might ease some of the tensions even more than we realize because i believe volvo has signaled it was going to pull back on investment plans
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here in the united states because it ships a lot of cars from the u.s. to china, so it will help jobs in the u.s. in the sense of bmw that makes suvs down in south carolina or mercedes-benz or volvo, any automaker that has jobs here that ships to china. >> a couple points. you mentioned bmw and volvo. ironically, among the biggest beneficiaries of this chinese move are german auto manufacturers. because you say they're producing here in the u.s. and exporting to the u.s. from china where some of the manufacturers do production over there. i think it's a sign that the two sides, the trump administration and beijing are trying to make progress because both sides are feeling fres pressure to get something done. as i say, this is unwinding retaliatory tariffs they put in place a while ago. there's a lot that the trump administration wants them to do before it's convinced there's
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real progress. we talked a lot on this program about intellectual property theft. they're making soundings there too on changing patent laws but there's a lot to accomplish in 90 days and 90 days is not a lot of time to do it. maria: just to see this little bits and pieces of progress makes you feel like at least the conversations are ongoing and maybe we will get some solutions. >> it's better than not talking at all. maria: you've got the china issue but then there's europe. we had the purchasing managers index this morning in europe, they were weaker than expected, falling short. some people are saying the protest in france was one of the big issues there and that's temporary. then there's britain. we've got italy with budge he et issues. -- budget issues. theresa may in day two of counts with the european council. the first day of talks did not go well, john. e.u. leaders standing their ground that there's no room to renegotiate here. what's your take on europe and
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how it's going to spill onto the u.s. you've got all these problems throughout europe right now. >> well, let me say two things. first of all, on europe, the european economy is one of the biggest disappointments on the global stage this year. it started out the year and ended 2017 on a pretty strong note. and we were talking at the beginning of the year about a sin hsynchronized global upturn. europe has disappointed for a lot of the reasons you raised. italy's budget problems, brexit, germany is suffering because of china's slowdown and we have protests going on in france. there's big disappointments across europe. that leads me to the second point. what does this mean for the u.s.? we just did a survey of economists. we do this monthly survey. we ask them what are the biggest threats to the u.s. economy in the coming year. more than half of them said it was global trade. the u.s./china trade differences, the global stage. these problems could hurt the
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u.s. economy in 2019. interestingly, only four of more than 60 people that we asked said it was the fed. we talk a lot about the fed raising interest rates, the white house talks a lot about the problems that causes. the economists we talk to say no, it's the global backdrop and not the fed that's the biggest threat to the u.s. maria: it's like the coupling issue. it's going to hit the u.s. at some point. you have to expect that. and the other issues globally as well. so we'll see how severe it gets. john, good to see you this morning. thanks so much. we know the fed meets next week. you are expecting a rate hike, i know that, john. >> the big question is what language do they put after that. it looks like they are sensitive to what's going monday in the global -- going on in the global stage. they're sensitive to inflation moderating a little bit. next year they'll be taking it on a meeting by meeting basis. we might get a slowdown in rate increases next year. maria: in 2019. they're cor choreographing that
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well. we want to tell you about the week that was. it was a busy one here. check out the top moments from "mornings with maria" this week. >> it's all been about china. when you talk to our allies around the world, they know that china's the real big fish that you've got to go catch if you're going to get free trade. so the fact that they've got this 90 day d atante. hopefully that means they're getting closer. >> we must hold fast, stay tough and focus on the prize. the prize for this country and for the world and for china really is complete structural reform. >> 90 days you could have a deal but whatever deal we arrive with at the chinese isn't going to hold. got to remember xi jinping wants to dominate. president trump as he did with usmca and korea is determined to get a great deal for americans that's great for us, great for the chinese, great
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for global growth. china has been cheating us for quite some time. the world community knows this. it's the first time we've had a president stand up to china. china is out of control. kudos to president trump for calling china out on behavior that many business executives in asia really know that's what's happening. what we found was huawei was stealing trade secrets and confidential files from motorola with chinese nationals that were our employees. the economy right now is great. look at it. unemployment, inflation, growth, are all fabulous. it's all very fragile and so over the next two years it' thes a better than even chance we'll see a downturn. presidents have tried to influence the fed a bit. they tend to do it behind the scenes, quietly. maria: not this one. >> not this one. i think it's bad to have the debate in public because you lose confidence in the fed. we're moving into a state of
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stagflatoin. there's a lot of global trade issues, scre geopolitical. i think the uncertainty is playing into market volatility. there are republican votes to build a border security wall and deal with asylum law changes we have to have to address the caravan issue. that's the position the freedom caucus has taken. that's the position of the american people. the american people want border security, they want homeland security, they want to stop the flow of illegal drugs into the community. i have no idea where this thing is going. it could be that the brits crash out on march 29th of next year with no deal of any kind, they just leave. could be they stay in. dagen: at least the british can once again look across the english channel and say at least we're not france. >> there but for the grace of god go i, very true. maria: top business leaders, athletes, launching a new group
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maria: welcome back. we've got a selloff on our hands, dow industrials down three-quarters of a percent. the nasdaq is down almost 1%. today is the first holiday shipping deadline for guaranteed christmas delivery. cheryl casone has the details. cheryl: oh, boy. here we go. santa can't do it all alone, folks. the u.s. postal service is setting today as the deadline for ground shipments if you want your packages to reach their destinations in time for christmas. the deadline at fed ex is the coming monday. the last day to ship packages with ups, next tuesday. amazon doing its part to help last minute shoppers. extending delivery by four days, no minimum purchase required. alaska airlines taking ugly
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christmas sweaters to new heights. customers wearing their best sweaters to the airport next friday can board their flights early. and employees will be wearing ugly sweaters for the entire month. to keep customers in the holiday spirit, boarding music and free holiday movies will be playing all month long. this reminds me of the sweaters we wore last year. i loved our sweaters. maria: it was so much fun. cheryl: finally, there's this. forget pine needles and gingerbread. kfc wants your christmas to smell like fried chicken. they're selling fried chicken scented yule logs. it can burn up to three hours. but they warn it may result in a craving for chicken or attract hungry bears. it's on set. we can't obviously light it for you for certain fire code violations. >> thankfully. maria: you don't have to light it. i can smell it. cheryl: i can smell it. >> you can smell it.
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>> you want things to smell like chicken? dagen: i'm from the south, in case you didn't know. every proper southern home should have the scent of fried chicken. there should always be a plate of freshly cooked fried can chin sitting on top of the stove. you don't need that because the scent is already there. >> i'm holding out for the taco bell tacobell ornaments. >> i want going to get you kfc lipstick for christmas. >> i want the food. i don't want the smell. >> everything they do sells out. this thing sold out in hours. you can't get it. we have one here, that's it. you can't buy this right now. >> is there a warning -- is there a label, like you shouldn't eat that? maria: it really smells like fried chicken. >> it says smells like fried chicken. >> it smells like a boullion cube.
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maria: when i do a real fire, i like the smell. >> of a real fire? >> of a real fire. >> you don't want to take this home? dagen: even being a vegan, i like the smell of real fried chicken. here's a christmas gift, give people a cast iron skillet so they can learn how to cook it themselves. >> in oil like my grandmother used to make it. >> peanut oil and you have to season it. buy an old one at the flea market that's seasoned. maria: a big thank you to kfc for the chicken fire log. >> maria is taking this home. maria: i love it. hotels that feel like home, see how the hospitality industry is transforming the way you vacation, wait until you see all these perks. stay with us. ♪ mutual customized my car insurance so i only pay for what i need.
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maria: welcome back. home you away from home enseo is making hotel rooms mor more comfortable and smart. vanessa ogle joins us right now. tell us about enseo, you founded the company. >> i did, 18 years ago. maria: tell us about the platform you created. >> the platform provides technical services to people places, like hotels and schools, so we do things like bring netflix into hotel rooms, create wi-fi networks, the ability to change the temperature and thermostat in the room, locate things in the hotel. maria: you can do so much more today in hotel rooms than you ever before could because of technology. >> it's incredible. it's amazing the way technology in the hotels goes for any hotel, whether the luxury segment or economy segment, the technology that's going in is really fun right now dis in
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terms o.dagen: how does the ecy look? you can see the entire hotel industry in terms of the room supply, new rooms coming online and how well booked they are and the kind of room rates that these hotels are charging. >> we're seeing really strong performance right now from the hotel segment. the adr, the average daily rate of the rooms is continuing to be strong. occupancy in hotels is continuing to be strong. new build construction, we have a lot of rooms coming out of the ground right now. we're seeing really a lot of good strength in the segment today. >> how does enseo work? you have subscribers? how does someone subscribe to your service? >> a hotel will buy our equipment and put it in a hotel or put it in a school and sign a subscription to us so you can walk in your hotel room and use your own netflix or music on your phone or watch your netflix. >> how is it different than going into a hotel that has regular wi-fi, how is the
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experience different for folks? >> the experience can be different -- first of all, there wasn't the ability to bring netflix into the room before we did it. it's something we pioneered. now the opportunity is to have a personalized room when you walk in. when you walk into the room, we can know what your preferences are and understand we want your preferences with netflix and temperature and what's your favorite channel so it's preloaded, nice, seamless experience. maria: what other benefits, walk us through the benefits of having this technology equipped with enseo platform. >> the benefits to the technology to the guest is they get their own content the way they want it. they have a seamless experience on their wi-fi when they walk in. all of their devices can connect. the benefits to the owner or the hotel operator is that it can lower their operating expenses because they have to pay less money for content that comes in and they can make sure that the temperature is down when the room isn't occupied. so they actually save money on operating the property. dagen: does this service allow me to bypass the inf infomercial
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that you're forced to watch every time you turn the television on in a hotel room and when you turn it off it's never on the channel that you -- on which you left it. that's a huge pain in the neck if you travel a lot. >> this is one of the things that's coming is this personalization. you get to have your experience, your way when you walk into your hotel room, not just the advertisement that someone wants to throw at you. maria: how do you grow. >> reporter: you've got to get more hotels to sign up you're currently available in 5 million hotels -- a 5 million hotel rooms in north america. >> we only have 250,000 rooms but we had 50 million users on our platform in the last 12 months. our growth comes from signing up new hotels, domestically and interly and also our platform is going to k-12 schools. that's a big growth segment for us. maria: what's the downside risk? we've been talking about one of the big stories, that is the hack into marriott and there's speculation that china was
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behind that hack into marriott. if i've got my he network in a hotel room, am i more vulnerable? >> that's one of the benefits of the technology. you can have your room be your network instead of being on the network at large. so it really kind of isolates all of your technology into just that room. so it's a big benefit from a security perspective. maria: that's interesting. so it's then you're no longer on the marriott system, you're in your own system. you still are on the marriott system because you have to sign in there for the hotel. >> again, if we have the seamless sign-in, then you show up and you just seamlessly are in your network in your room. so there's not all of the things that you have to do, the speed bump as it were before you can log onto the network. maria: vanessa, great to have you. thanks so much. >> thanks for having me. maria: still ahead, president trump not happy with general motors' decision to lay off thousands of american workers, his comments next hour right here, "mornings with maria" continues. stay with us. ♪ voice-command navigation
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with waze wifi wireless charging 104 cubic feet of cargo room and seating for 8. now that's a sleigh. ford expedition. built for the holidays. and for a limited time, get zero percent financing plus twelve hundred and fifty dollars ford credit bonus cash on ford expedition. maria: dagen: . .
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maria: welcome back. good friday morning. thanks so much for joining us. i'm maria bartiromo. friday, december 14 top stories right now 8:00 a.m. on the east coast, stocks are selling off this morning, weaker than expected economic data out of china overnight as well as uncertainty in europe with the purchasing manages indices weaker than expected in europe weighing on investors, dow industrials down 200 points almost 1% lower s&p 500 down 22 nasdaq down 67 1/2 points a lower opening for sure, markets little changed yesterday. dagen: up s&p and nasdaq lower, with these declines, we are now seeing, dow and s&p 500 on track to i rays weekly begins a that were in place. yesterday nasdaq down 28 points a third of a percent dow industrials up a third of a percent at close yesterday in europe selling, look ats indices 1t 100 down 43 points cac quarante in paris down 45 points dax in journey down
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two-thirds of 1%, 73 points lower right now in germany in asia overnight declines across the board japan worst had the performer there down 2% on the nikkei average, of course, chinese economic data was out like industrial proximate cause that was weaker than expected overnight, that had shanghai composite down one and a half percent hang seng in hong kong down one and two thirds% china trade this is focus, another sign this morning, of conversations though perhaps in east coast of tensions beijing is now confirming a "the wall street journal" report earlier this week, that it will suspend additional tariffs on american-made cars, floufs talk for general motors president trump issues a warning for ceo mary barra in interview with fox news -- watch. >> tell me a couple weeks before capacity going to close in ohio and michigan not acceptable to me she is either going to open fast or somebody else is going in general electric is not going to be
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treated well. maria: oh fallout coming up then waymo interthink a between them targeting cars slashing tires to throwing rocks at cars, more on this road rage fdriverless cars we get into that kaeven on did he man starbucks expanding delivery program across the country what to expect making next oed at starbucks, by the way, that stock down 3 and 3/4 points, percent this morningstar douks down almost 4% costco under pressure adobe under pressure worries about growth getting into it premarket serious losers this morning coming up friday morning to break it down fox business network dagen mcdowell, third seven advisories strategy miekt block president of massachusetmaslansky and patterns lee carter. dagen: serious -- here welcome.
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om oh. >> come on you yies. >> -- dagen: i couldn't resist. >> the stock market is a loser again this morning, i think that is the big thing, and, you know, again there has been a lot of pain felt from end of the third quarter on, we are seeing a lot of retren of monetary i i think slow aftershocks, in addition to data slowing around the world everything else going on, some traders want volatility now they have volatility, got to be careful what you wish for so -- >> what about what is going on in europe so you serious is this do you and to it hit united states accelerate expectations that growth is going to slow here problems all over europe. >> it is a risk we so say u.s. intestate house on block the being if a of the matt answer from manufacturing pmi this morning crashes fir-- con trackions first time 7 months i had op-ed open market letter to president trump trying to figure out positive things to encourage how to get economy
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markets on track maybe next lettered needs to be to jean-claude juncker -- what we could do maybe europe is too hung up on deficit targets for france and italy maybe that is the wrong thing to be forcing on. >> send a let the tore mario draghi yesterday what did he say dagen that didn't make a lot of sense? he said, the risks are still to the downside in europe, but we're go is to go stop stimulus. dagen: i -- couldn't make heads or tails of it, but again that does go to central bank policy something stephanie pomboy talked about all year long is that you have ecb that will stop bond-buying program federal reserve simultaneously is reducing balance sheet below four trillion dollars that is removing, this stimulus disappeared that type of stimulus disappears from a central bank in europe here at homeness moving money from financial system that is one of the reasons you see markets as wild as they are. maria: we will talk about that joining the conversation ceo of citizens financial
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group bruce, with us this morning, along with chief investment officer sf global fixed income joining us as we look at rates, and the economy, and slowdown, expectations, host of "varney & company" substitute stuart going to weigh in as well don't miss a moment of it a bypassing hour coming up we kick off with this top story this half an hour china halt pg punitive tariffs on u.s. autos car parts, beginning january 1 trade sensations hang over the economy edward lawrence live at the white house with the very latest we should point out journal broke this on tuesday, beijing is confirming they are in halt being tariffs. >> we are learning china is confirming they were going to raise tariffs 25% as you spended three months president cautiously optimistic a trade truce as economists are telling "the wall street journal," that they believe a recession, or believe china could be the biggest problem, in 2019 for the u.s. economy
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they have to watch that president makes no mistake it is his policies that brought china to the table. >> i will tell you this. china's economy is -- only in trouble because of me. that is the only reason it this is trouble i placed billions and billions we have taken in 11 billion dollars of taxes that articulationed china 11 billion dollars we haven't made money with china we lost money with china. >> taxes the tariffs he imposed saying he will not back down until something is on paper. >> additional 267 billion dollars worth of taxes, essentially to put on china, and they don't want that that would be devastating for china. and -- they are now agreed to go and buy soybeans tremendous amounts of soybeans you see that already happening. >> already started signs that chinese may be change the way they deal with this administration, because of the tariffs and weakening economy
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in china made in 2025 plan propose to change that downplay the role of dominance in tech industry space possibly open market access to foreign companies chinese experts want to make sure there is substance there not just window dressing. maria: edward thank you so much at the white house thank you so much we want to bring in blackrock global cio fixed income rick, a pleasure to talk to you thanks juror joining us so we have had all new zpalz in the last couple of weeks, when the first let's talk rates, because the interest rate market has been really, the fuel for the volatility in the stock market, isn't that right? >> show the i think what started it actually to go back to september fed came out said we're not sure where fruit rally rate is may be far from it something markets can't take uncertainty around the discount rate on assets, since then you are starting to get some better news out of the ffed, next week, presentable o going next week unless really a hard time few days going
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next week then i think going to be completely data centric from there quite frankly the intrasensitive parts of economy housing auto small businesss changeable softness, it changeds dynamic, by the way, meanings you can -- use interest rates in portfolio talked about for a long time apply two years where you don't want to get hurt with rates pricing all of a sudden rates don't have to rise any more big deal longer term. maria: are you were on the show a month ago you said look there are opportunities in the short term. >> yeah. >> two year, and the -- the three year even or 10 year so close to 3% i go back to what president trump said, about jay powell, and, you know, you got to say even though you really don't want the president of free world telling the fed how to operate, he was right, i mean he was looking at the economy, saying things slowing maybe you don't need rate hikes, yesterday on fox news he said, he hopes that fed doesn't raise interest rates anymore, watch this. >> you look at inflation, it
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is very low. hopefully fed won't be raising interest rates anymore if you compare us to as an example, president obama, he had zero interest rates anybody can make money with zero interest rates, i am almost at a normalized interest rate our economy is soaring jobs are soaring, businesses are doing tremendously apple announced going to invest billions of dollars in this country just happened. maria: the economy is doing well, but not all that well, because thes expectations are things are going to slow in coming years right. >> i think there is really big points here i think a couple things to be say it fed moved ten times look at grand land shape what happened intrasensitive parts slowing. >> a lot moved front end of the yield curve real rates back over 3% big deal second thing something recommend important we should put more and more people to work in this economy. when you increase jobs, wages are accelerating a bit wages
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doesn't mean inflation, what more and more people are doing is actually saving, it is not like 20 years ago you buy new tv, radio, because of services, because of technology, you don't create wages up and inflation, the fed hag nothing to be worried about put more people to work, think about what people have in terms of college casts in terms of retirement et cetera, put more people to work, there is no reason we don't have to choke off the economy, but do i agree to some extent given how much we've moved fed can take a step back evaluate data maybe another hike in next year or two let the economy -- gain its footing actually the economy is in is good shape we are just going to slow a bit from what is a very very, very strong pace you don't have to keep moving if inflation is not chasing, pretty impressive. >> with a ray dalio said the fed is not able to do it not able to raise rates three times which is what a lot of people think you are saying one or two. >> no, i am -- your show last time. >> a long time. >> you came on this program, two months ago, three months
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ago, said the fed is not going to be able about to raise rates that much. >> no way, do they go one time next year maybe, maybe a second i don't think they are going to try to that being said maria inflation, top line inflation, is going down too we think down to one and one half% in economy still growing at over 2% pretty good,but doesn't mean you have to lift interest rates. maria: all right. >> their goal that the application of the fed price statement not two it is price about the stability trending 1/2 putting people to work let it gos evaluate it say gosh do we need is flying accelerating a little bit tweak it but right now no need to -- >> inflation i couldn't bes cpi a yan ppi a yawn no significant move in terms of inflation. >> you talked about structural changes autonomous cars transportation goods what is happening versus 10 years ago food agriculture. maria: great point. >> cost of food going down cost of transportation going
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down, cost of apparel going down we don't get accelerating inflation like before, because structural dynamics are in play what is there was economy day different than others people say wages up inflation coming overheat just doesn't happen. >> before you go, are you worried about growth? because yes, the fed might not be able about to raise rates as much, but that is because the economy is growing but about to slow, how worried are you that european issues are going to impact u.s.-china issues are going to impact, and the -- the -- >> so i think you can't discount them entirely a series of things in europe, including exports to china could improve weighter issue in germany french protest i don't think yooup is falling off a clichina to stabilize going to hit unemployment rate low 3's maybe 3% ghoord in recession when you have that many people at work, so i am not worried about u.s. falling off a cliff or going into a recession, any time soon -- just slower fwroekt.
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maria: do you still want front end in income. >> i still want front end i love front end for the very first times in a for the first time i like long term interest rates you have a fed that will be date focused, it means when you own a portfolio of equities or other risk interest rates longer end of the curve can move with my risk or help against may risk. >> the 10 yoo rear, 30 year. >> 10 year, 30 years less slow because of curve, certainly 10-year treasury ib think you can own about fixed income. >> under 3% nice run thank you so much rick, you are my special guest on wall street thank you so areh for joining us on that, from blackrock more trouble for general motors president interest fires off fresh round of attackers on auto maker we bring it to you starbucks on doorstep coffee giant's latest complaks launches plans to hands deliver your kaeven, back in a minute right here.
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maria: welcome back, tesla responding to china suspending tariffs on u.s. autos, cheryl casone with details. cheryl: very interesting, china imposing tariffs on american cars in july part of retaliation in trade war between two countries, today, it suspended those tariffs for three months will start in january, tesla -- reacting to this cutting prices on model s, in china according to the chinese web site price of certain model cars, 15 grand, model x's by 9400 that was instan containous. >> president trump upset, with general motors plan to close factors in the u.s. cut up to
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15,000 jobs in north america, fox news trump question gmceo mary barra strategy. >> the nation got to see you as gm said we are going to wipe away 15% wove before christmas you said i want to talk. >> tell me, a couple weeks before christmas that she is going to close in ohio and michigan not acceptable for me, and she is even going to open fast or somebody else is going in general motors is not going to be treated well. >> trump suggested new trade deal with mexico and canada makes it very uncomfortable for gm to build cars outside of the u.s. >> a car target for taxing in arizona, called more than 20 times people crashed tires, thrown rocks pointing guns at waymo vehicles according to one paper there, one started opposition standing in front of the car wouldn't budge, until cops came waymo testing
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cars in arizona, using backup drivers waymo google apparent alphabet low in premarket down 1 1/2%. >> star gukz next year offering deliveries to 2000 starbucks stores from across the country, going to partner with uber, on your doorstep outlined investors yesterday in, no, part of a broader plan to reach more xhurs shares starbucks low in premarket down almost many 4%, of course, the question maria, is latte in new york city still warm if february? >> answer to your question -- >> we in new york pleased to hear delivery yies yesterday i had to walk half block to find starbucks, and it was -- >> you can get it delivered. now. go on there. i can find a way to get anything delivered i am master of that. >> cool. >> making the streets unsafe,
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for pediaestrians people on comooils on sidewalks. >> dangerous you know where mayor bill delassio is on this no where'sville. >> the. >> we will break volatility on wall street rates and growth since financial group ceo is weighing in on markets swings federal reserve and the lending environment that is next, then president trump toukt h touting his trade policy. >> i have respect for president xi not a kapit later i tell china's economy if in trouble only in trouble about because of me. >> more of the commander in chief's plans to keep china in line coming up stay with us. ♪
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good sell-off on wall street today at open down 200 points on dow jones industrial average concerns over global growth and trade driving wild action in market few weeks overnight weaker than expected chinese economic data as well as purchasing managers index in europe. on tap federal reserve meeting we are expecting increase in interest rates, joining us to talk more about the above since financial group ceo bruce, thanks for joining us.
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>> let's talk about your expectations, for this economy, because there is all worries about what is going on in europe going to hit u.s., as well as that things are going to slow down in the coming two years is that what you are seeing from your -- >> no actually domestic economy still very good shape i think gdp growth will exceed 3% may be 2 1/2 or 3 necks year unemployment on the way to 3 1/2 inflation under control, signs of very healthy economy. >> rick was with us from blackrock noting federal reserve raised rates 10 simes since zero how has it impacted your business. >> banks typically benefit based on the way balance sheet is positioned agency rates move up loans replace quickly deposit rates more slowly we are benefiting, and hasn't been enough to really slow loan demand we continued to see reasonably good demand i think given the point fed moved quickly the market anticipates a hike in december, then maybe a pause, maybe one next year, most
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probably two. i would agree with i think it is there has been a lot of medicine sit back see how patiently has responded. >> that is a very different exception than six months ago. >> where are you seeing most demand for commercial loans right now what sectors what businesses. >> i think that sectors that have been faster growing technology, health care, we've seen reasonable growth energy still a lot of exploration taking place. and also general industrials in general folks have good cash flow, and we continue to see good borrowing demand. >> you are bank for iphone if you have a plan for iphone, citizens has the exclusive financing partnership with apple more than half iphone buyer opt for installment plans what does that tell you -- >> i think a great program apple designed about terrific customer experience where you can take advantage of new leaves upgraded your phone we provide financing for that do
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i think there is an avenue to leverage what we've designed to start change point of sale model looking at other partnerships stay tuned on that in terms of growth going forward you presented i am looking at notes you have you were relevering post ipo tell us how allocating capital right now. >> it has been pretty balanced probably growing commercial bank faster than consumer bank more loan demand on commercial side a great consumer bank want to scale up hired experienced loan offers from other banks moved into other regions, so we've seen nice growth there, on thes consumer side we've focused on niches may be less competition education refinanced loans big spot for us areas like apple financing point of sale financing. >> what iss consumer look like in terms of financial health whether they have taken on too much debt or not? >> i think the consumer has
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been fairly conservative there is not extremely amounts of deshlt to have you watch the sub prime space, but ultimately -- >> autos one -- >> that is right. >> talking about that. >> but if you look at the benefits, to regular folks, today we've had real wage growth this year for the first time in a long time that is positive. tax reform has put cash back in pockets, so i think with holed benefit tax benefit lower ising benefiting individual savings rates stayed up consumers have more buying power, positive. >> do you need to acquire to gain more scale? obviously the number of banks has shrunk, in the last decade, what does the acquisition story look like for you? >> we've been acquiring, fee based businesses, if we want to get deeper in some of our services that we can offer to customers we bought m&a shop last year bought a welt advisory recently bought a mortgage company this year, we haven't focused on full banks
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one of the things we did to grow the first regional bank to launch, a national digital bank citizens access on track to have over 2 1/2 billion deposits less than six months very successful as well you don't necessarily have to grow with brick and mortar you have to get good digital gain where opportunity lies. >> an opportunities built risk cybersecurity is an issue growing concern date breaches all the time what are you doing in that regard in more and more people using online banking as a tool how do you protect about the information. >> it is really, really important. and you start with leadership so we brought in a very experienced head of our cybersecurity area she is populated area with a lot of good people we've given her tools latest technology she needs to make sure our customers information is secure. >> a great story bruce good to have you on the show. thank you so much, ceo of citizens, we are waiting on
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retail sales number we are expecting retail sales up 2/10 of a percent for november the markets are down 212 points right now in terms of expectations for growth slowing down. so once this number comes we will see how the consumer has been doing, you said the consumer is in good shape. >> that is what i feel. >> interesting to see retail. >> in line with estimates up 2/10% on retail not major move markets not reacting retail story has been very strong, so that is why i don't understand how this economy is supposed to slow down so much retail sales in line with expectations, up 2/10 of a percent business spending strong cap spending story also questioned, undermine of slowdown with tariffs coming onboard would you agree with that. >> i do think that is one to watch, moderated as years gone by i think part is linked to
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question of tariffs. >> i was piepting out mike bloc even debate all we talk about in breaks financial news the he overly numbers look good a lot of stocks have been hammered, hammered specifically in november. department stores. >> a lot of -- trades long sided xrt, retail etf has taken a hit going through numbers i will point out a bright spot expectations were above, x-autos gas beat by a tenth of a percent over consensus, 2/10 of a percent actually a little bit better when we get into guts we will see how market reacts. >> markets down 97 points close to where we were before numbers november retail sales up 2/10 of a percent right now a break when we come back technology threat from china taking a look at developments following arrest and release
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of cfo of huawei late night thriller dramatic highlights last night's charges-chiefs game. back in a moment right here. st? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.
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but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are
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swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. us. i'm maria bartiromo friday, december 14 top stories right now 8 clov:35 a.m. retail sales 2/10 of a percent for month in line with expectations no change in market recollection scuttle of numbers futures down 214 points before the number that is where they are right now down almost 1% on dow where almost % lower s&p better than 1% lower on nasdaq 75 points lower, lower opening european indices under pressure ft 100 down two-thirds of a percent cac quarante down one percent dax down two thinkers of a percent 2 points lower asian markets in rode as you see weaker than expected economic date out of china and europe this morning,
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about worst performer was japan, down better than 2%, trade tensions, appear to be easing china says will halt, additional tariffs on u.s. oouths and car parts, beginning in new year january 1 concerns rise over fate of the cfo of huawei we are breaking it down this morning, and then top story this half an hour, the technology threat and china cfo of huawei on bail he arrested on charges she violated u.s. trade law huawei one of the largest smartphone makers in the world, joining us right now manage director former microsoft coo, good to see you thanks so much for joining us your wreaks to what took place reaction to huawei news we thought iran sanctions but learned that this is a company chinese government has been using, for espionage. >> if that is true, that company this is serious trouble, i mean, they are the big kahuna relative to who
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cellular tower equipment business leader globally, in patents, took over that lead in 2017. they've been heavily involved in setting standards for 5g technology, along with with ericsson nokia, samsung and qualcomm. so this is a company that is critical to the -- the smartphone cellular business, and the more we learn about the involvement of china the more worrisome it is why you see governments backing away a huge trust problem right now not handling it well, and that is just a critical issue for -- for the technology industry. maria: yeah, i am glad you mentioned 5g, the stakes are higher look your a former leader at microsoft we had steve ballmer recently brad smith, to talk about china issue, you probably saw firsthand right, where 90% in
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china yies microsoft -- use microsoft platform only one percent pay. >> you would think they change ways become a full participant, in the globally economy but they continue to want to do so-called chinese way, and i think they are going to run into some major problems, as they try to pursue leadership in the technology sector, on a global basis i think huawei is example number one. >> bob mike block here. so what can u.s. do what can companies here do to not throw baby with bathwater but rather protect ip also be able to do business, can technology itself be used to help enforce at it company level ip, the -- legitimizes of truly property.
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>> the technology companies involved in this business need to play stronger roles we have a problem in u.s., if you go back to bell labs a lot of technology was originally developed be i came lucent purchased by alcatel alcatel purchased by nokia all of a sudden you look around wow there isn't a strong player, in that sector right now, from a technology standpoint, so we have to become much more of a strength in this area, requires a lot of support from the u.s. government to make this happen. but we have qualcomm a major player in terms of a handset itself, but relative to cellular towers, we're not the strong right now. dagen: i was going to ask it is dagen mcdowell -- what specifically should government be doing we are watching say the social media space only advertising space, will dominated by a few players
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that have gotten bigger and bigger an bigger through acquisitions like a facebook or even a google. how can the government how should government intervene in tech industries? >> well i think the most important thing is tech talent, okay? the fact is, we do a lot of things to discourage the o foreign student here at finest universities, getting educated, and so if you look back to 2011, 45% chinese students upon graduation were going back to china, today that number is 80%. why is that? we continue to make it very difficult to get the right visa we continue to make it very difficult to find a job, to stay here, in fact, the government floating a lot of policies that say, after a year if you are a computer science graduate, if fact we want you out of here by a year. so it is -- we are doing the wrong things, relative to the
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immigration issue the immigration issue is so screwed up because on the high end we should be luring these people here encouraging them to stay, the talented people, so we have a tech talent problem that is number one, in my mind. second silly -- secondly encourage companies to do right thing from technology standpoints a lot of different ways relative to the social media folks they are in for heavy weather, they haven't been fessing up to euros exactly what they are doing with information. and sooner rather than later the governments around the world are going to say people need to opt-in or out right up front the only way that you can make it legit that people are participating, in what you are doing, with their data. maria: we agree with you we agree with you bob we talked about that every morning do you think more regulation on the way then? >>? i do, relative to the social media world. maria: yeah bob good to have you on show this morning. thanks so much. >> thank you.
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>> joining us there, prices at the pufrn outlook into the holiday travel season stuart varney weighs in jackets of the future wait till you see this how one company is using artificial intelligence to keep you warm. back in a moment. ♪ ♪ 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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better holiday travel for sure joining us host of "varney & company" stuart varney to weigh in. >> look maria i i am absolutely determined to find something really positive on a friday morning maria: o good. >> with talk of impeachment political problems build wall or shut government down i bring good news national average gas price 2.39 per gallon, it has gone down, in -- that is -- that is rounding up, it is actually 2.39, yesterday's prices there, but be that as it may 2.39 cheapest gas in the country is in great state of missouri, where the average, of all gas stations is 1.97 per gallon i i counted in my opinion states average price is below 2.10, of course, there is california where average price is 3.40 a gallon, one hole dollar over
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the national average. i thought would i bring good news i am going to tell you a lot of americans are going to be to be driving. >> i like good news too you have to believe that when people have more money in pockets will spend more money around holidays we will get a good fourth quarter holiday shopping season. >> i have to believe that i have watched retail sales numbers. >> thanks so much i am sorry i just want to bring good news. >> we love it stu you always make us happy. dagen: i am laughing i know stuart -- is not before driving dwroos or thr-- across two or three states in the correct word is cheap, okay simply of that. >> nine a.m. earn after "mornings with maria" join stuart after this program by the skin of dieting, the dramatic highlights from last night's chargers-chiefs nailbiter the injurious jacket keeps you warm with artificial
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agreering artificial intelligence, designed first heated jacket built in thermostat keeps you warm artificial intelligence allows it to detect your body temperature outside temperature adjust teet from one environment to another joining us -- good to see you. thank you so much for joining justice, jacket looks fantastic, tell us how it
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works. >> has three heating panels built into it a battery to generate heat it is unique temperatures measure outside temperature body temperature, we can detect if you are standing in a bold bus stop or running to catch train. >> you can ask amazon alexis to change temperature. >> you are waking up going outdoor alexa turn on my jacket will preheat. >> dagen you were modeling it earlier. dagen: perfectly temperature control are people skeptical do you have a hurdle to -- jump to convince people of the -- technology in this jacket? >> a great question one of the things we realize folks making sure a jacket that looks great, that looks like a normal winter jacket, and that was kind of most important thing making sure it didn't about have visible lights in it it wasn't too difficult to
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use put on jacket in smart mode as soon as these you walk out the door ready to go. >> where can one buy your jackets. >> we have seven stores across u.s. here in new york, also online on web site. >> you say the jacket is everything proof odor proof waterproof machine washable. >> how. >> we figured out how to make waterproof jackets and using interesting material, that is actual made out of recycled coffee grounds a growth odor initalizer the result this great jacket. >> you graduated from mit science in this jacket says in your materials that it is pretrained, so as soon as you get this thing ready to go can you tell me about free training what does that peen. >> several individuals across country wear the jacket different scenarios could figure out, what does the
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commute look like understand how they need it from data able to train model so when someone puts on already has a rally good model based on what most people like. dagen: in terms of growing business has to be about more than jackets what is next step? expansion of the technology? >> our core business making dress shirts blazers how do we find this beyond a city jacket, ski ware, even beyond into garments -- >> i think your store on madison and 53rd street, yes one in soho right now. dagen: there you go. maria: congrats, thank you so much jacket looks fantastic, and we appreciate you joining us this morning. thank you, sir. coming up, adorable the newest player in nhl taking over the rink next up.
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♪ ♪ ♪ this holiday season, families near you need your help. visit redcross.org now to donate. and all through the house 'twas the night before christmas not a creature was stirring, but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59.
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>> welcome back night on football at the ill there are what a game. >> more of the exception than the norm to see a great matchup on paper translate to a great football game but you know with like that possible super bowl preview last month, between the rams and chiefs, this battle for the afc best record monumental but chargers cut a 14-0 deficit in half on this touchdown by mike williams who would score twice more here in 19-yard run and get charges in position to force overtoo ill request this touchdown four seconds to go extra point tboz to overtile right. well they say we're going for the the win on a two point conversion. >> likely to file play that matters end zone wide open what a night for mike williams. >> wow. chargers win 29-28 l.a. is 11-11
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atop af krrgs and we and chargers clinch playoffs. how do you get rid of the blues well you have st. louis blues puppy barclay cotom practice. barclay is fostered by team to become assistant dog. check him out not only with a stick but puck and most impressive here maria how does he keep his footing? he doesn't have special shoes on and he can not slip and slide. >> so cute because dogs are to everything better than humans. >> yes. pretty much. >> look at that. [laughter] oh, my gosh. so cute. >> i love it. looking at barclay go. [laughter] >> a puppy a real puppy in him. inspire folks to go on central park on the the ice with youring to. >> so great. my favorite yellow lab favorite bomb sniffing dog doesn't work that well she goes on her back with legs in the the air like --
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belly rub. she wants belly rub doesn't everybody? that's sweet. have a great weekend everybody. great show everybody. >> michael black dagen always a pleasure. always. a great weeks us with you. yes maria sunday and futures have a great day everybody. stuart take it away. >> it does good morning maria good morning everyone. here we go again, with a headline driven stock market up one moment down the next. these days it is not unusual for dow to go through what, 5, 6 or even 700 point swing had a single day. here's how we start this friday morning. down triple digit for the dow. red are ink for nasdaq and s&p as well investors don't like this volatility they pulled a record 46 billion dollars out of stock mutual pungdz etf last month what's the problem today in answer chinese economy reare tail slows at the

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