tv Mornings With Maria Bartiromo FOX Business December 18, 2018 6:00am-9:00am EST
dow industrials set to open up better than 60 points, quarter percent. s&p up quarter percent and nasdaq with 23-point move higher up third a percent. this after sharp selloff on wall street yesterday, major indiceses declined better than 2% on global growth concerns along with interest rates moving higher. federal reserve 2-day meeting getting under way today we are expecting fed to raise rates on wednesday. industrial average down 507 points, better than 2%. the nasdaq down 157 points yesterday. in europe this morning mixed story, take a look at indices, ftse is down 29 points, cac quarante is down 7 but the dax index in germany higher, 24 points, quarter percent. in asia overnight, declines across the board, worst performer there, japan, nikkei average down almost 2%, we are watching the price of oil this morning, crude oil under pressure, down 2 and 3 quarters percent falling below $50 a barrel yesterday for the first time in over a year.
then this, les moonves denied severance. details on the board's decision here coming up. new questions surrounding elon musk, boring under scrutiny over financial ties to spacex, another musk-led venture. this comes as the company unveils test tunnel today. the saints march on, new orleans beating the panthers last night crushing carolina's hope. the tone getting political as well with one panthers player featuring colin kaepernick on cleats. joining me fox business dagen mcdowell, forbes media chairman and former republican presidential candidate steve forbes and 32 adviser ceo former economic adviser to president obama robert wolf is here. >> good morning, great to be here. maria: good morning. >> those futures after a thousand point fall, yeah, we like the green but we like to see more green.
maria: for sure, what is going on, steve, the month has been one of the worst months we've seen in terms of markets? >> everyone has suddenly become pessimistic, the concern about trade, very, very real, you know, it's nice vibrations coming out but people want to see a real deal. holding back capital expenditures, u.s. economy showing signs of slowing down. if we get trade thing out of the way you will see u.s. pick up and finally next year europe making structural changes in their economies just as it happened in 1980's, within a few years, 50 countries reduced sharply their taxes. maria: wow, you want to see deal with china? >> that's the big one. >> yeah, i think incredible headwinds geo politically, brexit highly unlikely as is. china is slowing. maria: italy, budget issues. >> all around us, you know, we
are doing so much better but eventually impacts a little too but i think right now there's also incredible anxiety coming with democratic house, you know, the president, you know, hopefully we can get back to work as opposed to keep on attacking each other but feels like that's not working too well right now either. maria: a lot of uncertainty over that. dagen: wall street editorial page time for fed pause, pausing and i know steve will agree with -- maybe agree with that, i don't know. but then also i would argue that it's hard to quantify this but the mueller probe is weighing on markets as well. we saw it during the ken star investigation in months leading up. a lot of other things going on, long-term capital management collapse which i know that you know well but, again, it was on the margin. >> real lack of confidence in the system right now. maria: i think you're right. i think the president is being investigated in all corners of
his life right now. you've got democratic majority coming in in new congress, people don't know where this is going. >> they want to do political equivalent by killing him by a thousand parts. maria: markets know that. you're absolutely right about that. >> government shutdown is never good. they should also get a deal. maria: that's the least of it. another uncertainty piece. we have a big show this morning, coming up joining the conversation kansas congressman roger marshal is here this morning along with former white house communication sky bridge capital founder anthony scaramucci, don't miss a moment of it. we kick it off with top story, that's markets, higher opening this morning but, of course, nothing to the tune of what we have been seeing on the downside.
the dow fell more than 500 points yesterday on global growth concerns, this morning we are looking at the market up 81 on the dow, 29 on nasdaq, federal reserve beginning 2-day policy meeting today. officials are expected to announce they will raise interest rates tomorrow. joining us right now to talk more about all of that is barry, good to see you today, thanks so much for joining us, what's your take on what's been going on with these markets down so much, such nervousnesses? >> look, i know that trade and politics grabs a lot of headlines but background music, lead sing near this band is the fed. we've had 3 concerns this year, one is earnings estimate was 6% average sell side strategists, second, we knew that interest rates in a real sense which is the interest rate after inflation as it began to rise off of real low level the pe ratio, price to earnings ratio, the price would come down.
i think the fed is making same mistake as second half of 2014 and all of 2015 which is is interest rate policy diverging from the rest of the world. that's been pressuring the market. maria: journal this morning as dagen noted earlier has editorial commenting on the fed decision, the article titled time for fed pause and the article writes this in part, the right answer is to ignore the politics inside and outside the fed and follow the signal that suggests a prudent pause in raising interest rates, get the monetary policy that best serves the economy and politics will work itself out. i assume you agree with that, do you expect the fed raises rates tomorrow and how many are you expecting in 2019? >> i think the fed will raise rates but we see as deak keller ration in -- deacceleration from the economy. think a car going 65 miles an hour going to 40 to 45 miles an
hour, that's the order of magnitude in the slowdown. i think the fed will pause after rate hike tomorrow. one thing to consider, though, is that i actually think by 2020 unwind the rate increase of september 26 and tomorrow and have to cut rates but that would be normal operationses of policy as the cycle matures. maria: next year you think they will cut? >> that will take a while before they cut rates. maria: maybe 2020? >> yeah, we are talking about weakness in 2020 when fiscal stimulus wears off and the economy will be in more advanced stage. maria: steve forbes. >> barry, in terms of the fed, the fed has been signaling interest rate hikes especially this one for months and months, why would the markets suddenly react when this has been on the table and the fed made it clear what is going to happen for months and months, the market anticipates the future, don't you think it's other factors weighing on the market not just
the fed which told us months ago they were going to raise the rate this month? >> yeah, we've had the -- as i said the lowest target of earnings and the second lowest price target at 2800. so what we have been discounting is the earnings, weakness and the valuation compression. but i do think it will grow and earnings ratio will stabilize, things should start to get better but right now the market has been weighed on by simple math. earnings, priced earnings ratio and interest rates. dagen: one thing that i wanted to point out knee-jerk fixation on what the fed is doing, historic expansion of the balance sheet, it was unprecedented during the financial crisis and the journal editorial page writes the larger
argument. it's not just that inflation is contained that the global economy is slowing but the larger argument for a pause is the fed is unwinding the largest monetary experiment in modern history, central banks move around the world move get away from multitrillion dollar bond purchases which we saw in europe last week and zero interest rates, what is the normal interest rate in this post crisis world, we don't know and we doubt the fed does either so it's been focused on the balance sheet and that's what the fed should be doing in terms of pausing according to journal. maria: that goes against the feeling after powell speech, right, where people were surmising that he was basically saying, we are basically at neutral. dagen: the journal some days later wrote, hey, they are the bull horn for the federal reserve and they warn. the market got it wrong. he was close to the range of being normal which is 2 and a half to 3 and a half percent.
so we are at 2 to 2 and a quarter. maria: it's not what ray dalio -- we will see, that's the debate. >> surprised by your comments of expecting slowdown next year, i- with growth below 3% is that with a loosening of the labor market, where do you see the slower growth coming in? >> yeah, i was talking about nominal growth. i'm in the view that the fed is actually failing its price stability mandate and that gives them an excuse to pause. they'll probably do pauses on a quarterly basis with renewals, i doubt that they will commit to any sort of full-year view but right now i think inflation will pull back and that would push you down towards around 3, 3 and a half percent nominal gdp and about 2 and a half percent maybe 3% industrial production growth and that's earnings tend to be, s&p 500 tend to be more because
they are publicly held. maria: what about china, you expect to fade? >> well, one of the problems with the market today is a vacuum, we don't have a lot of information, in other words, during bush 41's funeral the fed's testimony to congress was canceled wednesday two weeks ago. so the fed went into a quiet period and we have absolutely no idea what they are thinking and doing and talking about. the second thing is the 90-day renews -- renewals on trade talk is not something that public has visible. maria: that's true. >> when you have a vacuum, prices fall. maria: you do like consumer staples, bond proxies are better in this environment? >> yeah, maria, when i was on your show a couple of weeks ago i said the 10-year would fall,
it's come in from 3 and a quarter to 2.88. i think that thing could fall 2.7, invert the 10 to 2 and when you look at the 10-year minus 2-year, the fed will be force today pause for longer and if the fed tries to ignore the yield curve they'll be making a mistake. they made excuses why it didn't matter in 2000 and 2007, the whole world is carry trade the last thing you want to do is invert the curve. maria: great insights from you, thanks so much. >> thank you. maria: barry, severance denied for les moonves, details from the board meeting coming up. tale of two companies, boring company and spacex, back in a moment with that.
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package. investigators found that he violated company policy, he breached his employment contract and intentionally failed to cooperate fully with the investigating a look at cbs' stock itself, actually down 18% so far this year. well, elon musk tunnel-digging project, the boring company to open first tunnel today in los angeles, this comes musk again coming under fire this time for relationship between two of the companies. wall street journal reporting that the boring company is being pulled into musk controversial practice of spreading overlapping assets across the different company. the journal writes this has alarmed long-time investors in spacex including his largest outside backer peter teal, investors questioned spacex why it was use today start separate company that benefited musk. okay, frustrated new york commuters are going to feel more christmas spirit today, the
christmas decorations over the holland tunnel that caused angst and anger, new yorkers are never angry. here is the story, location of the tree and wreath spark a lot of, well, controversy. officials in the tunnel shifted position of decorations after conducting an online poll, the holiday scene is bringing a lot more joy. back to you. maria: thank you so much, cheryl. cheryl: people are freaking out in new york. maria: the stress that comes with the holiday, i guess, is also part of it. >> the world can't be that bad if you're worried about wreaths on a tunnel. maria: that's right, les moon ves, he tried to delete evidence, tried to hide evidence in terms of sexual news --
misconduct, and that's why he's not getting the 120 million. dagen: we know the details about what was going on based on the investigators' notes because "the new york times" reviewed those notes from investigators, so not fake news, incredible reporting on this me too movement by the times, detailed -- the notes detailed efforts by les moonves to destroy evidence to quiet by giving her show. 9 and a half million dollar payment because she was removed from the legal drama, not related to les moonves, she got removed and paid 9 and a half million dollars. again, it's not just les moonves, charlie rose, they are still dealing with that in good morning show and probables at cbs and the board yesterday did
vote to deny 120 million-dollar severance, seems to be ready to fight it but we will see. maria: people that are leaving and getting pushed out for any number of reasons because they were tied to that situation. dagen: stars particularly male stars were never held accountable for their conduct and if you said anything about it, you were pushed -- punished and they retaliated against you, we have experienced it obviously in previous history here but, again, goes on and there's still a focus on what's going on at the big companies. maria: yeah, you're right. we will keep watching that, extreme weather to tell you about. late-week storm will cause holiday travel headaches apparently, full report of snow, rain and wind right up next. surf's up here, incredible trick on the water and even he can't believe it happened. back in a moment ♪
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maria: welcome back, millions of americans will travel ahead of the holidays but delays are not the only thing to be prepared for, fox news senior meteorologist janice dean, janice, good morning to you. janice: we will start with good news. for the next 6, 7, 8 days the really cold air stays up north in canada and we are relatively mild for much of the country heading into christmas break. in january we could see arctic air. 33 in new york, 26 in cincinnati, seasonal temperatures about average for
this time of year. we did have a storm system across the northeast, we do have a little bit of lake-effect snow, interior snow, not a big deal. this is our next big system that will cause the potential travel delays thursday and friday which you mentioned, that is move ago cross the west, the northwest will remain active with storm every other day pushing in from the pacific coastal rain event and some snow across the higher relevations of the inner mountains west and northern rockies and eventually move across country and interact with gulf moisture thursday or friday and potential delays, thursday, friday for east coast mainly rain event. all right, will we have a white christmas, everyone is talking about that. here is the historical white christmas probability. certainly potential for that across the west, across the mountainous regions, as we go through time, saturday, sunday, monday and tuesday here is where we will see the snow, coastal areas will see rain, upper midwest could see snow, great
lakes certainly, interior northeast, along the coast here from the northeast down towards the southeast in florida, it could be a wet one. we will keep you posted. certainly delays will start thursday, friday, not a big winter storm, look ahead for new year's eve and january much colder air invades the country, back to you, maria. maria: get ready for that. janice dean, coming up twitter tanks, new disclosure from social media giant over exposing user data to china and saudi arabia and the saints go marching in. new orleans beat panthers crushing carolina's playoff hopes. reed honoring colin kaepernick, the controversial cleats coming up
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maria: welcome back, good tuesday morning, everybody, thanks so much for joining us, i'm maria bartiromo, it is tuesday december 18th, top stories right now 6:30 a.m. on east coast. morning green on wall street this morning, not to the extent that we have seen losses but the dow industrials are expected to open higher about 90 points. this is the high of the morning right here, s&p is up 15 and a half. half pefer cent higher ahead of federal reserve's 2-day meeting it begins today. we are expecting the fed to announce it will raise last time this year and we are expecting that announcement tomorrow at about 2:15 p.m. eastern. yesterday another rough day at the office, the major indices down better than 2% apiece on global growth and interest rate worries, the dow industrials down and european indices this morning taking a cue from wall street, mostly, well, it's
actually a mixed story. cac quarante in paris has turned positive. very much a mixed story in the euro zone this morning. asian markets lower across the board as you can see. crude oil price below $50 a barrel. first time we are seeing this since october 2017. bear market since november 8th, 20% lower from the highs. oil down 2 and 3 quarters percent right now. 1.36 lower, 48.52. social media giants facebook and twitter accused to providing incomplete data, russian interference of 2016 election. details coming up. the saints go marching on crushing panthers' playoff hope.
we will bring it to you, it is a surfing miracle, legendary surfer pulling move at pipe masters in hawaii that even impressed himself. we want to show you what the president is thinking this morning. the president tweeted a while ago, biggest outrage yet in the long, winding and highly conflicted mueller witch hunt the fact that 19,000 demanded tech messages between peter strzok and fbi lover lisa page were purposely deleted. explain whole hoax which is now under president from the president this morning. 19,000 texts deleted by special counsel. top story this half an hour, the growing china threat, chinese president xi jinping taking hard stance amid privacy concerns and trade tensions with the united states saying in a speech earlier today this, no one is in a position to dictate to the chinese people what should or should not be done.
we must reabsolutely reform what should and can be changed, we must change what can be changed. here is what he says is most concerning right now. we have spoken a number of times on the program with you how china is using economic power and putting it on its military complex. tell us what china is doing with regard to espionage in america? >> they are moving in first with leverage like loaning money, building infrastructure, most concerning is when they get ahold of the electrical grid, they get a hold of the banking system and they go in with companies like huawei or zte and they offer basically free infrastructure, so free communications infrastructure, what the chinese are doing with that is they are ensuring that they control the communications
infrastructure so then they can monitor for economic purposes those businesses and others that they may want to get involved in so that they have total control and manipulation capability over those countries and governments. maria: joining me right now retired four-star general fox news senior strategic analyst general jack keane. general, good to see you this morning. >> good to see you, maria. maria: wow. devin nunes on china, i was worried about, you know, the military stuff but they are going into various countries in particular african countries and say we will give you free telecom infrastructure but the way to tap into spying, what are your thoughts on china's behavior? >> yeah, the chinese are conducting economic warfare and they are absolutely predators in doing it. they largely take advantage of emerging countries where they
put millions of dollars in the elites' pockets, get them to influence the government, they come in with extraordinary good loans to the government but in the long-term they have high interest rates and they are building infrastructure, bridges, damns, highways, et cetera, and they force everybody to accept chinese labor, they will not use local labor whatsoever, whether it's in south america, africa, south asia, southeast asia and then over time the interest rates rise on those loans so much so that they default and then the chinese own tall infrastructure that they build, it's really quite extraordinary. the second thing they do is what chairman nunes is talking about, they force them to accept huawei and telecommunication systems therefore they own the personal intelligence of that country for generations to come. not just on the business side but particularly on the government side and on the military side. it is absolutely extraordinary,
we have never seen anything quite like it. this administration, the trump administration has identified china as the long-time strategic threat to the american people and to the security of the united states. economically, politically and militarily. maria: and i'm sure that's right. we are seeing evidence of it. where is this going? in the meanwhile markets are selling off, and uncertainty of the two world powers in the world, u.s. and china, do you think they'll be any kind of an agreement in the year ahead between the u.s. and china given that there are certain things we are not going to change? >> no, i actually do think so and i think the president is doing the right thing in standing up to china economically. maria: for sure. >> politically and we also have to do it militarily. china is a behemoth but when we bring allies together in the united states and combine that economically and militarily we
are considerably larger than china even in terms of potential growth. the chinese certainly see that. what happened is they've never had anybody confront them before and that is what needs to happen. maria: meanwhile we thought china would be helpful with north korea, more north korea tensions, slamming u.s. sanctions on the rogue regime, a report in the journal shows that north koreans are getting around the sanctions, titled this, north korea turns coal into gas to weather sanctions, isolated regime in abundant research, your reaction on north koreans getting around u.s. sanctions. >> yeah, when it comes to oil issue and, you know, fuel to drive electricity, et cetera, there's two things they are doing, one is they are doing ship to ship transfer of oil offshore and i've felt for a long time that we have to get the united states navy and allies up there and start blocking that. the second thing is what you're
talking about is coal, old technology, the germans did it during world war ii and they were being pressured because of losing their oil production, south africa did it when sanctions were slapped on them and here is the kicker here, they're able to do this because china has given north korea the technology to gasify coal and it's 10% of oil in terms of capacity level. here again china, yes, they said that abiding by the sanctions, but no, the truth is they are helping north korea and we have got to get tough on all of this. maria: yeah. let me ask you about military spending because we know this is front and center this week, the congressional budget office releasing recommendations on how the u.s. could curve defense spending, some of those recommendations including capping pay increases for service members, canceling purchases of f-35 joint strike fighters and stopping production
of four aircraft carriers among others, what's your reaction, general? all the worry about overspending. we've got a budget partial shutdown coming this week. do you think these recommend ass make sense or no? >> well, i think the whole idea of the defense department looking inside to find savings and significant savings is a good thing. i think, you know, secretary of defense needs to be told to do that, he has a program to do that, we should let them figure out where the savings are. capping pay makes no sense to me. the economy is good, we are being challenged in terms of recruiting and retention, we have to keep the pay up there with the -- with the private sector so the military is is competitive. we don't need to be ahead of private sector but we have to be reasonable with it so when people look at the military and say, well, i can raise a family there and -- and have a
reasonable life, quality of life experience there. we don't want them to have to come in and suffer to the point where we are only going to keep them for 3 to 4 years and leave. that makes no sense to me. maria: yeah. >> yes, the idea that congressional budget is saying, defense department should take a hard look at itself and find programs to cut that are wasteful or not efficient, i'm all for it and i think it's something that needs to be done. maria: we should point out that this week is really not about defense because that's already been taken care of in terms of this partial government shutdown. >> i don't think -- well, hopefully we don't have a government shutdown. maria: you don't? >> the defense department will be fine. maria: general, good to see you, thanks so much. >> yeah, good talking to you, maria. maria: general jack keane, facebook, google, twitter under fire, technology giants accused of fail to go provide all data in the probe into russian interference in 2016 and the
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michael flynn. will be interesting to see what he has to say despite tremendous pressure of russian collusion in our highly-political campaign. social media giants under fire meanwhile pertain to go that interference, cheryl casone with the details now, cheryl. cheryl: all connected, maria, facebook, google accuse of providing uncomplete data in russian meddling in 2016 election, according to report from cybersecurity firm, the companies did the bear minimum when it came to meeting requests by the senate intelligence committee. meanwhile the ncaap has returned recent donation for facebook and calling on use toaster boy cot site as well as instagram today. the move coming after senate report revealed how facebook's platform was used to suppress african-american turnout in the election. we will take a look at shares at
twitter, fell almost 7% after they disclosed suspicious traffic to a customer support form. there's yesterday's price on twitter. large amount of traffic to site came from ip addresses in china and saudi arabia. and that those ip addresses may have ties to state-sponsored actors. data exposed included the country code of users phone numbers. those directly hacked have been informed about this. talking about twitter again, toxic place for women, that's according to report from human rights organization and the international, the group says that twitter is a platform where abuse against women flourishes often with little accountability, in fact, female politicians and journalists were allegedly abused on twitter every 30 seconds, maria in 2017. maria: what?
incredible. cheryl: they don't police their content. dagen: we had a guest on a week or couple weeks ago that talked about diversity in silicon valley. maria: what diversity? dagen: what diversity? rate is high for women, women are not represented, black americans are not represented, latino americans are not represented in the way that they should if you're going to present yourself as a diverse certainly progressive industry and company, so like i think if you look at apple as one example, less than one-third of global workforce is woman. in technology jobs is less than one quarter jobs held by women, they are trying to improve that but you have companies like uber, open secret, common knowledge in silicon valley that they treated women horribly. this is before sundar pichai took over.
nonetheless, it was kept within the confines of the technology world. maria: are you surprised by that? >> i know that we are all capitalist and want less regulation but there's something to say to look at regulating these companies like they're media companies. there's no question that twitter and google and facebook are now media companies. maria: media companies. >> and i think as you talk about diversity or whatever else and certainly the idea of doing forensic on what they have their outputs are, they will have to be looked upon much different next year. there's no question about it. maria: huge portion of tweem get news on twitter. dagen: i had a conversation -- this is something that resinates with every american. i had a conversation with a friend in the last couple of days about this very thing and the person said, why do these companies have a liability waiver for users to write content if they will decide who gets to publish on their platform. they are still -- >> you can't be the largest
advertiser and largest distributor of content and say, well, it's not my content. maria: google has 90% market share in search. 90%. dagen: right, twitter increasingly is shutting down conservative -- >> it's amazing how tone deaf politically the companies are. maria: google blew up the hearing, i'm not going. >> content is often censored. you would think somebody in california say, hey, we have a problem, let's fix it, apologize, fix it. maria: remember gop primary in california, if you googled, you did google search of who is the gop in california, the list of decryptions of them coming up. number one or two was naziism. naziism. how does that happen? who programs that into an algorithm and then they say it was the algorithm, guess what a
human being is putting algorithm together. dagen: frankly, companies and management treat everybody in the country that doesn't work in technology, there's nothing to see, you don't understand how it works. >> good thing about free markets is technology, always up ends these companies, watch out what block chain does, read george's book, general motors will take over the world, microsoft going to take over the world. dagen: one of my family members is reading the book trying to make sure that they don't get basically invaded out of business. maria: yeah, we will take a break, a surfing trick, you to see this, prosurfer magically regains control of surf board after a complete wipe out. back in a minute.
maria: welcome back, the panthers playoff hope crushed, dagen mcdowell on sports headlines. dagen: crushed by new orleans saints. 12-9. monday night football. stylish win, the saints keeping their spot at the top of the nfc with two weeks left in regular season. this marks the panthers 6 loss in a row ending their hopes to make postseason run. panthers defensive back eric reed making political statement with his cleats, the cleats depicting activist including image of colin kaepernick kneeling during the season, reed continue to go protest national anthem. a major change in the world of soccer, manchester united firing its manager josé after less than 3 years with the team.
manu is 6 in premier league, this will cost him 16 million pounds to get rid of the guy. a wild ride in hawaii. awesome dude kelly slater recovering from fall mid ride at the pipe master competition. he's a really good dude. most influential in sports business, shows big shift. number one according to sports business daily, the american sports gambler, topped the commissions of the major sports league adam silver came in number 2, nba commissioner roger goodell and eric sports ceo number 4 and rob, major league baseball commissioner, guess who is coming up here on mornings with maria, rob. maria: coming up shortly.
dagen: the saints have the best record in the entire nfl. they are 12-2, robert's patriots, i think he lost two weeks in a row, didn't you? [laughter] dagen: number one in afc with 9-5. >> we should go back to talking about my red sox today. okay, because -- maria: you don't want to talk about the patriots? >> i'm happy to talk patriots. we will make playoffs. let's just wait. are you going to short tom brady? >> i will never short tom brady. i might put my money long. >> stick to red sox. they are claiming the best team in baseball history but i've got news for them, go back to yankees 1949 to 1953, 5 in a row. so stop the boasting. maria: good stuff. we will be sitting down with mlb
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to help you shed those sugar cookies, get a running start on the holidays, and take it all in with the patience of a saint. queen sleep number 360 smart beds from $999. plus, it's the last chance for 48-month financing. ends monday. maria: welcome back. good tuesday morning. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 18th. your top stories right now, 7:0. investorrings trying to find their footing this morning. futures are at the highs of the morning, dow industrials up 87 points, a third of a percent, s&p is up a third and the nasdaq is up 34 points. after a sharp selloff on wall street yesterday, all the major indices down better than 2% on the day and global growth and interest rate concerns. the dow was down 506 points, the nasdaq was down 157 points. the federal reserve kicks off its two-day meeting today. we're expecting the fed to raise
rates. in europe markets are mixed. cac is down just a fraction. the dax index is up almost 50 points. in asia overnight, declines across the board. worst performer was japan, nikkei average down almost 2%. we're watching the price of oil, crude oil is under pressure again, it has fallen below $50 a barrel for the first time in over a year, it is down 3% this morning at $48.42. got to wonder when this starts to impact the shale companies significantly as oil prices move lower. johnson and johnson under fire, slammed for the safety of baby powder, after new pressure after it announced a $5 billion buyback yesterday. the company is facing more pressure this morning. plus this. alexandria ocasio-cortez is not even in congress yet and she says she's already needing to take a break. she says she's felling burned out. all right. and now this. fortnite facing a lawsuit, carlton is taking on the gaming
giant over his signature dance. wait until you see this. all those stories coming up. joining me to break it down, dagen mcdowell steve forbes and former economic advisor to president obama, robert wolf. goodgood to see you this mornin. >> great to be with you. >greatfirst hour. still a lot happening in the world. nice to see that green again on the futures but after 1,000 points we better have some green. maria: 1,000 points plus. it's all of the worries over rates and over trade that has investors wondering. >> and no question with china and europe slowing down and brexit and the chaos in washington continuing, it seems like everyone's going to their corner. it's a tough time. maria: all the gloom and doom. how come the ipo calendar is so strong? you've got real familiar names going public next year like uber, like lyft, like slack, like pinterest, a lot of them, and the market did not
discourage these companies from making their filings. >> and i'm not questioning that. i think the economy is much better than the gloom iiness today. we'll be in december. it will be the first time possibly since 2009 that we'll have no high yield issuance. there is definitely a feeling right now, people are walking in and they have no idea what to expect for the day because a lot of these things are out of their hands. what happened in france, okay, the idea of the hangup in brexit, china slowing, these are just things that come up out of the blue and are very unexpected. you can't position yourself for it. maria: there's a lot of uncertainty for sure. dagen: the russell 2000 is now in a bear market, down more than 20%, small cap stocks which from the high this year, that speaks to what's going on here in the united states, not around the globe. great run-up until the turn but down more than 20% and the transports are close to being in a bear market, down more than 18s from the recent highs. that bears watching. maria: message of the markets
is nervousness. >> i was bringing up earlier it's surprising the s&p is lower than where we were before the tax deal happened. that being said, we had such a run-up in 2017, it's not surprising. the question is, is 2018 really a pause or are we into a slowdown period. maria: let's see if it's -- >> the good thing on the ipos, you have to ask the question or make the point, it's about time. ipos have been terrible. maria: that's. >that's true.it's a big calenda. >> if they get the trade thing, the uncertainty out of the way, the u.s. starts to get strong, it's going to have a tonic -- positive tonic effect in the rest of the world. that is hurting investment now, that uncertainty. maria: there's a lot of uncertainty. let's see how much uncertainty is the fault of washington. that's our top story right now. the clock is ticking. deadline to avoid a partial government shut dodown is three days away. the president is demanding that creases provide $5 billion in
funding for the border wall. the democrats are showing no signs of budging. mark meadows weighed in on capitol hill yesterday. >> what makes january any better than december 21st. i'm willing to stay here through christmas to get it done right on behalf of the american people and we continue to punt. this is not anybody -- to anybody's surprise. maria: joining us right now is kansas congressman, roger marshall. thank you for joining us. >> good morning to everybody. maria: all of this nervousness in terms of markets, we know there's a situation of uncertainty between china and the u.s. and we know we're facing uncertainty with interest rates. but how much of this is washington, the fact that we're looking at a partial government shutdown this week, the fact that this mueller probe is constantly asking questions and putting these suggestions of collusion out there, even though there's no evidence of it. the fact that we've got all of this sort of vitriol between the republicans and democrats.
>> absolutely, you're right. when i was in the position back in kansas, i didn't follow the issues quite as closely and my stock market brokers loved me because i didn't call them every day. now i pay attention to every up and down, seeing the march he get overreact to the uncertainty, whether the threat of a government you shutdown, trade tariffs or potential interest rates being raised today or tomorrow. these uncertainties are adding you up. as you pointed out, the markets don't like ton certainty. maria: what are you going to do about snit you're a lawmaker, a leader in congress. how can you help the situation in your position and are we going to he see a shutdown? what's the impact? >> i think my job is to remain calm and clear, to make good decisions up here. border security is such a an important issue. i'm willing to shut down a very small fraction of the government. so my job as a congressman is to communicate, look, if the government shuts down, we're only talking about 10% of the spend of the federal government. medicare is taken care of. social security, the military, this is a very small segment.
border security, national security is so important. i'm willing to jump on this grenade and shut down this small sliver of the government to fund the border wall. >> just a question. last year there was a billion given to border -- for the border wall. that hasn't been spent. the question is, the president's looking for $5 billion. what's the compromise? because i know that you're comfortable shutting down 108% of the -- 10% of the government. i guarantee those people that will lose their job over christmas aren't comfortable. i think you're still getting paid. it's uncomforcomfortable to shun part of the government over christmas. my question is, what is the compromise. >> i would prefer to keep the government open, don't get me wrong. we built about 31 miles of border security with the funding we gave the president last year and that's going to go towards a total 40 miles in total. this funding of $5 billion will build another 200 miles of
border security out. that's a priority for us. it's a political football right now. the president's working on a compromise. i'm going to stand beside the president. this is when we need leadership from the president and from congress. i think there is a compromise there. i would prefer the $5 billion. >> right. but the bid offer is 1.6 which i think has been approved to 5. so why doesn't the house members, republican and democrats and the senate come up and say a different number and ask the president to go with them on this? >> well, it would seem like the democrats have said it's a nonstarter. they want to fund zero or perhaps now they're up to 1.7. so i think as a congressman i have to prioritize national security. maria: i understand that. the president is keeping his promises, the trump administration following through on that second round of bailout payments for farmers hurt tabi ongoing trade -- hurtl-hurt by e
ongoing trade dispute with china. what about other industries? can we really just give bailouts to those groups that are getting hurt by the tariffs and not everybody? doesn't this have a big downside risk? >> certainly i understand your points and agree with it for the most part. when the president first presented to this, the farmers said it's a no go. we don't want a handout. we want long-term access to trade markets and that's always been our mantra. but right now back in kansas, farm income is 50% of what it was, farm bank p ru bankruptciep 600%. it's hard times back home. this funding allows the farmers to maybe get the loans to plant next year's crop. it's a drop in the bucket. we're grateful for it. it's not what we asked for. we're asking to get -- we asked to get usmca done and that's been a accomplished, still needs to go through congress. we're asking to get the european union trade agreement done, the japan agreement done. maria: a lot of democrats say they won't vote for the usmca
the way it is. are you ready to make changes? >> i'm willing to make changes. i think there's a lot of crying and nashing of he teeth. i think it would pass with the majority as well as 40 to 50% of the democrats. i think they're posturing, wanting to make the perfect enemy of the good. >> congressman, your district we've been talking about agriculture but as we know since we're on a panel together a few weeks ago, your district is very widespread in terms of its economy includin including medil equipment. you were in the business. you talked about how tariffs are hurting imports of critical medical equipment that do diagnosis. do you see any prospect of getting this china uncertainty out of the way, because it is hurting the economy and hurting your district. >> certainly it's great to see you again. i enjoyed being on that panel with you. you're right, so hospitals buy
mris and mammograms, most of those are made in china and southeast asia. the prices are going up 25, 50% as well. it's impacting more than just agriculture. these trade wars, these tariffs could impact the gdp 2%, could impact the average family to the tune of a couple thousand dollars per family next year. that's the pressure we're putting on the president. we put pressure on him. we held him accountable. he game through with an improved agreement with nafta. we think there's an opportunity for improved agreement with china. we know this, mr. forbes. we can't keep doing what we've been doing with china either. however bad i thought the trade imbalances were and the unfair trade practices with china are, they were even worse when i dove into them. maria: it's pretty incredible what china has been doing and it's well beyond trade. i os agree with you, congressman. it's good to see you this morning. thank you. >> thanks for having me. maria: coming up, johnson & johnson is under fire this morning. they face an asbestos scan l dale i--scandal in its baby pow.
maria: welcome back. goldman sachs reportedly ignored warning signs of its dealings with one mdb. cheryl has the he details. cheryl: this story is still unfolding this morning. the wall street journal is reporting that goldman's push for asian business and the lax oversight of partners led them to dismiss several red flags. criminal charges were filed for the role in the multi billion dollar fraud. the bank is firing back. they say, quote, certain members of the former malaysian
government and one mdb lied to goldmagoldman sacks and others t the use of proceeds from the transactions. so goldman stated yesterday it's going to fight back on this one. the stock is down 32% so far this year. well, after falling about 10% on friday, shares of johnson & johnson dropped another 3% yesterday because of concerns over baby powder. reports say that johnson & johnson knew for years that some of its powder contained asbestos. the company's firing back with full page ads in papers, defending themselves. the india federal drug regulator said the report is under consideration. yesterday johnson & johnson announced a plan to buy back $5 billion in stocks. shares of the company slightly higher in the premarket, more than half a percent right now. well, the rivalry between netflix and abc parent walt disney continues to heat up.
netflix hired abc's former entertainment president to be the vice president of original content at netflix. he starts the job in february. this comes as disney is finalizing its purchase of most of 21st century fox's entertainment assets. the war is heating up, 21st century fox is the parent of fox business network. shares of netflix have soared 40% this year. finally, from movies to food, spice up your christmas gifts this year with a little economye wrapping. the mexican chain is offering wrapping paper that looks like salsa and aluminum foil. each roll, $14. the whole set is $50, maria. it's better to look at the burrito than to eat it, if you're trying to watch your holiday consumption as we go through the holiday season. maria: yes.
thank you, cheryl. the president just tweeted moments ago, he says this, i hope the people at the fed will read today's wall street journal editorial before they make another mistake. don't let the market become any more ill liquid than it already is. stop with the 50 b's, feel the market, don't just go by meaningless numbers. good luck. stop with the 50s. what does that mean? >> the 50 bs m the $50 billion in winddown. he's asking hem to slow down the winddown. they're cutting the balance sheet $50 billion a. dagen: now he's weighing in on that part of it. >> do you want washington beurrg $50 billion. maria: have to unwind the balance sheet. >> you would agree that qe3 was not needed. >> qe3 was a disaster. >> we should be unwinding. >> you bet.
dagen: when you say qe, you have to say quantitative. >> quantitative easing. >> the idea that the federal reserve could revive the economy by -- real jen jus jean just ant credit for small businesses. maria: you agree with the president? >> i think the fed should unwind. maria: you want the unwind to happen. >> absolutely. maria: that's also a form of tightening and the president is saying stop with the tightening. >> that's not tightening. that's liberating capital. maria: won't the market see it as a further tightening. we talk about this every morning. if you're unwinding $50 billion a month as well as raising interest rates, isn't that like a double tightening? >> in the commodity market, the gold market, the dollar has been strong only because other currencies have been weak. so the fed's been relatively neutral and the more capital they get back into the economy, the better. and if we get this trade overhang out of the way, everything's going to be much better. maria: it's the tradeover hang. dagen: i want to point this out. what happened when they were
buying bonds and during the quantitative easing, it lifted all these risk assets. so what happens when you pull that money out of the financial system, there's been incredible volatility, liquid at this problems, particularly in bond trading in recent weeks and it means will asset prices drop. again, i was going to say something political. i won't. we will discuss it later. i think that the obama administration for eight years got a lot of cover for some missteps in fiscal policy because of what the federal reserve was doing. maria.>> why is everybody lookit me? maria: you were an economic advisor to president obama. >> when the market in eight straight years was averaging 16% gains, we were loving it. let's not kid ourselves. >> small businesses and households couldn't get loans. >> people were borrowing more than they had. consumers. over 100% leverage. >> that's big companies.
small companies starved, bad. maria: coming up, another major recall is hitting store shelves. we've got the details. and i'll speak with the ceo of nielsen, david kenny in the studio, get his take on the changing media landscape. ♪ bring all the gifts for under the tree and while you're at it... bring the tree. ford f-150 best-in-class payload. best-in-class towing. built for the holidays. bring home the f-150 with zero percent financing for 72 months. only at your ford dealer. for 72 months. most kids today will have jobs that don't exist yet.
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maria: welcome back. for decades if you wanted to know what consumers are watching or buying, you would know the name nielsen. the company tracks consumer behavior across multiple media platforms. in november, the company appointed a new chief executive officer, he is with me now. joining me right now the ceo of nielsen is david kenny. great to see you. congratulations to you. i want to talk about your plans for the company. there are reports that nielsen is looking to change its structure. are you expecting to go private? >> we don't know that. the board's looking at all the options. there are certainly folks interested in the company.
right now i work for the public shareholders and we're going to do what's best for them. maria: tell me what you're doing. you have all of these different platforms to look at and nielsen is the name in terms of monitoring all of that and giving us the true accurate numbers of audience. tell us where the growth is at nielsen. >> well, certainly the growth follows our customers. so media companies are finding more platforms. they're certainly taking a lot of things digital in addition to tv and radio. what we're finding is consumers can consume more media because at least 45% of them, the big media users are doing two things at once. maria: it's true, we do two things at once. >> they're watching this show and they're on their mobile phone. maria: how do you measure that? consumers are turning to portable devices, they're making purchases while consuming media on tv. how have you changed your business as a result of that? >> we start with the best panels in the world. groups of consumers that allow us to track everything through lots of devices and monitoring.
what we do very carefully is make sure we do that in a way that we don't know who they are. there's no privacy problem with that. and people let us see what their patterns are in their home and in their life and in their car, all day long. maria: where's the growth in terms of the audience? is it online or -- and are the dollars do you think still in traditional tv? >> there's still a lot of dollars in tv. the biggest hour is between 9:0e watch tv but, again, 45% of them are also doing something on a second device. they're really engaging in new ways and sharing more media as well which brings more of their friends in. media is certainly healthy and growing. people want to connect, consume and be entertained. maria: i want to get your take on china. your former role, in your former life at ibm, which you've done a great job there, this weekend i spoke with the chairman of the intel committee on the house side, devin nunes. he told me some interesting things about what china does on
sunday morning futures many we talked about the concerns that china is trying to access people's data. watch this. >> the cfo of huawei was arrested. she was held in canada. she got out on bail. is that more about espionage than it was about iran's sanctions? >> you know, i don't know about that. i would refer to the department of justice and it's probably not something that i should comment on. but i do know that huawei is actively going around the globe and offering products way below their own cost, so that doesn't make any sense. somebody is subsidizing that. in today's world with the ever-growing and quickly changing ways we communicate, if routers are put in and this is something we worked on for many years on the house intelligence committee, looking at routers can take that information and quickly route the information quickly back to china where they
can come througcomb through it. that's the concern that if there are games bein played within the communications infrastructure that would allow for the chinese to spy very easily. i think that's one of the big concerns a that we have here is that the american people have been having to listen to this russia nonsense for so long and it's not that putin's not a bad guy and in fact we were the one that's warned about putin's ever-advancing capabilities, but at the same time we've totally ignored china. maria: what's your take on china? i know nielsen is in china. we've seen breaches in u.s. companies, including marriott and a lot of people say china was behind the marriott breach. do you have concerns about that? >> first of all, we have a great business in china. we serve a lot of chinese companies, serving chinese consumers. this issue is about global espionage. we are very concerned about privacy. everything we've ever done in nielsen is about understanding
what's going on without having personal information. we don't in any way want to make it easy for people to target folks. people deserve their privacy. maria: tell me your agenda. what are you doing in terms of leading this company to further growth? >> what i'm focusing on is our customers. so we've got two big sets. with the media companies we're helping them understand new and betteways to reach their audien, new ways to engage people and we helhave a trusted transaction between the ad agencies and advertisers to buy media and know that the audience is there and how to develop the audience. maria: how do you reach more customers today? what's the changing trends that you see? >> i think part of it is to understand that people, again, are multitasking. you've got to get them in short episodes. you've got to get them in short segments to get them engaged. a lot of things we're seeing is the value of engaging and sharing. if people start to share content, that means they're bringing in their friends so
it's more of an audience as well. we certainly do care that there be truth in everything we're seeing, so we're looking a lot at making sure that all the news is based on facts and there are ways to build brands that people can really trust what they're seeing. maria: it was great to have you on the show. thank you so much. david kenny joining us there. president trump just tweeted this morning. here's what he said about social media. facebook, twitter and google are so biased towards the democrat, it is ridiculous, writes the president. twitter has made it much more difficult for people to join at real donald trump. they removed many names and greatly slowed the level and speed of increase. they have acknowledged and done nothing. coming up, taking a self care break, that is what incoming congresswoman alexandria ocasio-cortez plans on doing before she heads to capitol hill and the new congress next year then suing he over a dance move, find out which sitcom star thinks the fortnite video game stole his signature move, the story coming up. stay with us. ♪ it's a shame.
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because your investments deserve the full story. t. rowe price. invest with confidence. maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 18th. your top stories right now. futures are higher this morning. we're at the highs of the morning with a gain of 121 points right now on the dow jones industrial average, the s&p is up 13 and the nasdaq is up 41 12%. this ahead of the federal reserve meeting that begins today. the fed is expected to raise interest rates tomorrow for the last time this year. we are expectin expecting annout 2:00 tomorrow. markets are rallying ahead of it. the major indices were down 2% apiece on global growth and interest rate concerns. the dow is down 507 points at the close yesterday. in europe this morning, mixed story. take a look at the indices.
the fq100 is down and the cac is also weaker by a fraction but the dax index in germany is up 43 points. asian markets closing lower overnight with the weakest link in japan, nikkei average down 1.8%. crude is a big story this morning. crude awakening. the price of oil is below $50 a barrel for the first time since october 2017. crude oil is down almost 3% right now, it is now in a bear market, it has been since november 8th. that of course means 20% lower from the highs. the e. coli recall expands. the farm behind the romaine lettuce recall now has affected vegetables. we'll tell you which ones have to be added to the list that you should not purchase. then, game on. the fresh prince of bellaire actor suing the makers of fortnite for allegedly stealing his moves. the quiet kennel, details on ford's new technology project to bring noise cancelling to your dog's ke kennel.
all those stories coming up. first, taking a break before your job begins. alan dralexandria ocasio-cortez announced she is taking a self care break before congress starts. she says i'm taking a few days to take care of myself before what is sure to be an eventful term. self care is political, not because we want it to be but because of the inevitable shaming of someone doing a face mask while financially stressed. joining us right now is sky bridge capital founder anthony scaramucci. good to see you. >> i'm taking self care right now here on the show. maria: what are you doing? >> i'm hoping that robert's going to give me a mani-pedi during the break. >> i don't know what that is. >.maria:. >> it's not 11 days of fame. it's lasted a lot longer than
that. >> i love this person. maria: alexandria ocasio-cortez. >> i think she's fantastic because she's got everybody upset for some reason. i can't actually figure it out. when she talks, it's clear that she was probably missing a few of those classes in social studies when you learn about american history. she is a force of nature. i have to tell you, i'm totally impressed with her. let me be totally direct. i'm good with the self care. if she needs any of my skin products, i can offer them up to her, even though she's very young, she probably doesn't need it right now. maria: this is a story right here. i know you're joking. there's a bigger story here. you are a moderate guy and a democrat. but you have these new-comers coming into the party like alexandria ocasio-cortez who is a socialist, robert. you've got another one in michigan. you've got bernie sanders, pulling the party all the way to the left and what do you think
about that? >> listen, i'm not on the populist left. to me, we lost the center, whih is why washington is a disaster right now. the truth is with ocasio she is preaching on climate change and on immigration and it's resonating with the base. i think to anthony's point, she may be pissing a lot of people off but she's exciting a lot of people. maria: you think it's good then? >> i think it's good for the party any time you have excitement. i'm not that far left. personally speaking, i probably would have voted if i lived in the city for joe crowley instead of ocasio. that being said, i have to applaud her. she gets out there and she has a view. i don't see many people actually saying i'm not for your green energy and i'm not for this. they may be dissing her on other things. >> what does that mean, getting a candidate in 2020 that can win an election. maria: that's the question. >> it will be an incredibly interesting primary. i think we'll have more than
what the republicans had, we'll have north of 16. i'm not sure that the party's not going to be pushed to the left and it will be a very interesting thing to find a candidate who can beat the president. dagen: the president, though, people on the left bash the president nonstop about mistakes he makes, things he tweets and i think that in terms of policy, if alexandria ocasio-cortez brags about her economics degree from college and then doesn't know how the unemployment rate is calculated, saying the unemployment rate is low because people are working two jobs, that has nothing to do with the unemployment rate, it's the number of unemployed people divided by the size of the labor force. i think it's fair to hit her on things like that. but if she wants to get a full body scrub on her days off, then that's fine. >> i have to make one comment. it would be unfair. you have the president telling us trade deficits are losses. dagen: i sat on this program,
robert wolf, and said that, that it's not a loss. that a tariff is not interest on a debt. it's not -- so he makes mistakes. >> she used your full name. [ laughter ] >> here's what i want to say. she's going to come into the center. this one is very -- i think so. she very smart. >> no. maria:way.>> no way. there's no center in new york. >> in 1969, hillary clinton gave a very far left commencement speech. >> has she changed? >> her ambition changed. she probably didn't change but she put on cling-on cloaking devices and pretended she was in the center for 25 years. this woman is a force to be reconned with. you can feel the ca cay charismf her. i don't like her idea idea logil views. dagen: the media, she gets the
level of coverage she gets, we're guilty of this, just like beto o'rourke, because she's attractive. -- attractive. beto o'rourke looks like a kennedy. >> what a name, beto. >> i think there's more depth than that. maria: who do you think are the leading contenders on the democratic side for 2010 again. >> i think beto and cay my la ke the new names. maria: do you think the president gets reelected? >> i do. if you watch these other networks, we're all going to jail, we're all going to have orange suits on. i don't see the level of criminality. maria: let me ask you, michael flynn is facing sentencing for lying to the fbi. this comes as former fbi director jim comey continued a second round of questioning by the house judiciary committee
yesterday. what are you expecting in terms of the jim comey and michael flynn situation, michael flynn first. >> 5% chance they throw the entire thing out for a number of procedural reasons. 95% chance he gets no jail time and he gets hit a little hard. maria: michael flynn. >> yes. >> i know you just announced your new opportunity zone funds. can you just give us 30 seconds on it. >> we set up a private r.e.i.t. to take advantage of what's going on in the opportunity zones. just quickly, you can take a very low basis stock that's had a high value now. you can sell it, move it into our fund. you get a 10 year abatement on the taxes and you gate 15% reduction on your capital gains. any returns you make off of the fund, you get that return 100% tax free. >> that was senator tim scott. >> tim scott and senator corey booker, it's a bipartisan strategy, something out of steve forbes' playbook from 1996 about flooding the zone where people need the money and figuring out
ways to unleash capital. >> are you givenning me a finder's fee on -- giving me a finder's fee on this. >> if you help me raise dough. fast pay makes fast friends on wall street. maria: where are the opportunities? >> basically the 2010 census delineated about 12% of the country are considered opportunity zones, that's where 20% of the population is below the poverty line. in those zones you have the tax abatement opportunity. >.dagen: you better throw money at eastern north carolina. >> we're thinking of using our investments for an opportunity zone. maria: great opportunity. thank you so much. coming up, stolen dance, carlton from the fresh prince of bellaire takes on the gaming giant fort nigh fortnite over hs signature dance. and we have guest picks, one
i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... maria: well, this is important. a california farm linked to an e. coli outbreak is recalling for products. cheryl casone has the details. cheryl: adams brothers farm in california where the fda linked
the romaine recall. the farm says it's recalling products out of an abundance of caution. the cou callthe fresh prince ofe star is suing the creators of fortnite and nba2k for using his famous dance on the video gamings. he alleges that the epic games and take two interactive used his carlton dance without his permission or credit. it was popularized on the 1990s sitcom that we all loved. finally this, ford is focusing on dagen's best friend. the company developed a kennel that canceled out noise for dogs that are scared of fireworks. it uses the same technology that's found in the ford edge. it's only a prototype for now. they say they're working on
other projects that use auto tech to solve nonautomotive problems. shares of ford are down more than 30% this year. cats are also scared of fireworks. maria: i think that's good. are you happy with that? dagen: yes, they need to step up and start selling it. maria: i don't like when the dogs are scared of the fireworks and running for cover. dagen: it's a horrible problem that dogs get out and a lot of people lose their dogs they're not paying attention during the fireworks celebration during the summer and new years. maria: wall street for your stocking, my next guest has stock picks that could be better than gifts this christmas, up next. ♪ better watch out, you better not cry. ♪ you better not pout i'm telling you why. ♪ santa claus is coming to town. ♪ santa claus is coming to town.
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maria: welcome back. how about filling your christmas stockings with stocks. joining us right now is akiles loreos. thank you for joining us. are you recommending buying stocks for kids or for everybody? >> well, actually it's for kids, it can be for teenagers, as well. this is an ideal gift that keeps on giving year after year. maria: tell us about that. >> what you're doing is you're establishing a habit. you're allowing your kids a little bit of a lesson. as i mentioned in an article, you want them to establish the habit early, to purchase the stock. they also -- your little capital capitalist will get a dividend as well. maria: you're educating the youngster about how investing works, and they can watch it grow or go down. not all stocks go up. >> absolutely.
especially with this volatility that occurred just recently. i call it the holiday special. you get to pick it up cheaper. maria: some of the stocks you're recommending are very familiar names for a youngster, like nike or under armour. these are your two stock picks? >> the stock picks are not as important. we could talk about google, we could talk about apple. more importantly is to establish that habit where say if they bought google at $100- maria: are you not recommending nike? >> i'm not saying i'm not recommending anything. i'm saying that with names like this, they are names you can grow with. they can grow with over several years. maria: what do you like right now in terms of investing? >> i do like the valuations on google. i do like the valuations on netflix. i do like nike. maria: okay. so tell us about google, what you like about google. >> the thing about google is they're establishing their campus here in new york. they've just expanded what they're going to be doing on the west side. it's a great stock. if you look at the valuation, you can't go on the p.e. of
course, have you to go on the fact that the expansion here on the east coast bodes well for them and that they're entreen sp innetrenchedin multiple areas. maria: look at the stock year-to-date, it's had a rough couple of months. >> everybody's had a rough couple of months. maria: is that something to point out in terms of valuation for the youngster? >> you definitely want to teach them, yes, absolutely, that it's going to go down a bit but at the same time we'ring going to go and we purchased it for you at a cheaper price so you say here's the opportunity or the value. maria: what are the rules for a youngster? a parent can set up the account and hold it in that person's name? what if you're too young to actually have a brokerage account? what is too young? what is too young? >> well, it's 18 and younger. i mean, you could do uniform gift trust for a minor. but generally you want to make sure that the parents or the grandparents aunts and uncles,
they can purchase these stocks and establish accounts for kids. they can get together with the parents on this and purchase over the years. or even do so in a drip plan as well. maria: tell us about a drip plan. >> it's where they're investing directly with the company. i've seen many successful clients when they were kids, the parents would set them up with a direct purchase from the company. maria: okay. >> it's not something i advocate for everybody. maria: i've got a couple names that you like, nike, disney, google, at&t, under armour ox netflix and facebook. does that sound right. >> sounds good to me. maria: it's a great idea, stock in your stocking. still ahead, my exclusive interview with rob manfred, next hour, right here, "mornings with maria." stay with us. ♪
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>> welcome back good tuesday morning thank you for join ling uh-uh us i'm maria bartiromo tuesday december 18th your top stories right now, 8 a.m. on east coast investors are finding footing this morning take a look at futures big rally underway right now at the highs of the morning with dow jones industrial up 178 points three quarter was one percent higher on dow and s&p. nasdaq up 52 points almost one percent higher, big rally this morning after sharp selloff on wall street yesterday. yesterday, it was tough day or for close all of the major indices declined better than 2% on the session. on global growth and interest rates worries, the federal reserve two day meeting on rate getting underway today and we're expected feds to raise rates tomorrow. in europe markets are mixed european indices where it is down 22 points. a third of a percent. cac is down a fraction and dax index is up in germany up 46 points. in asia overnight declines across board were former japan, down almost 2.. we're watching price of oil this morning take a look down two and third percent.
crude oil down below 50 dollars a barrel up for the first time in over a year. 48 dollars 74 cents a barrel on oil this morning. les miewn vees it beened his severance package. cbs announcing former ceo will not receive expected 120 million dollar package. the details on parking lot board decision after the meeting monday coming up. the big business of baseball i will sit down with mlb commissioner rob in a fox business exclusive this morning get his take on growth for the league and latest on a deal for regional sports networks and streaming rights all of those stories coming up this morning and joining me to break it all down fox business network dagen mcdowell "forbes" media chairman steve forbes and 32 advisor ceo and former economic advisor to president trump robert. great to see you this morning. >> great to be here. so question, do you think with president trump's tweets he kind of ham forget the fed hey don't do anything don't do anything. you think that's why the market just popped over the the last hour?
and do you think there could be a little head shake into the fed decision? >> i don't think so. i don't think that federal reserve is going to change its action because of the president's pressure i don't. i don't think jay powell will -- penguins are showing us thingses are slowing down and federal reserve shouldn't raise rates tomorrow. >> but they have to do it simply because to show they're not bowing down to president the. >> they have to do it but at the same time put out will indicate instead of four rate increases next year they'll see how editions -- >> editorial today -- >> when powell gave that speech couple of weeks ago now trying to walk it back. he was surrendered any time the white house goes after the fed in serious way the white house always wins. >> so you think fed is listening to the president surrendered. >> they've veppeddered saying for next year they've pulled back from a aggressive pray m with rate increases they surrender. >> but not just the president dagen economy is slowing down
even editorial board in the journal is saying it this morning. >> i wases going to bring up is -- time for a fed paul they go through reasons why fed could and should pause no sign of an inflation breakout. global economy that is slowing signs that the u.s. is slowing with housing and autos. both down, and then it will basically the biggest argument being fed is already unwinding it is balance sheet, the largest monetary experiment and modern history, an they actually outline what jay powell should say about the president if he's asked inevitable question at his press conference seen the comments but federal reserve is an independent central bank his comments make our job hard per because they might call some investors to think we make decisions based on political pressure are. i can assure you we make our decisions on economic merit. some may choose not to believe that. but they do so at their own risk. that's the journal writing what
jay powell should say because president saw the slowdown coming before all of this about the fed doesn't mean that they're to the president. >> idea it is part of his policy that's caused the turmoil in the markets and the slowdown. because of the way that he's handled trades and i talked about it all year long. that you did so much right with us and tax reform but then slap tariffs on american businesses to help you hurt a lot. to help a few. >> that's part it have for sure. >> i have been for rate increases to unwind what's happened in the last few years where i think that fed went too far on quantitative easing. that being said, the strong dollar based on what's going on around a the world is going to really impact us in a negative way. >> let's bring in on that note chief strategist has a thing to say about that. thank you for joining the conversation. >> thank you. so what do you think in terms of
rates and dollar robert is bringing up strong dollar here. we have oil prices below 50 dollars a barrel this morning. we've got a federal reserve possibly on hold if they do, in fact, to the rate hike tomorrow but after that, on hold your thoughts on where we are in terms of investing in markets today. in the face of all of these outside forces. >> well we do think that fed raises rates tomorrow and it's not just to make a political statement. but in line with their man at a time you know maria you were at the lunch at the club of new york an i think one the more porpght things he said was not that fed rate was full of neutral rate but reare enforcing idea that financial market volatile if i alone is not a trigger per fed but morph into physical system stability and a i think he made a very important distinction between those in essence we're not going to make monetary policy changes simply because of market action, and given the fact that real rates
are still only zero and fact that market expects a hike. i think it is fed were to pause tomorrow and not do something i'm not so sure that would be a positive message for market perspective now whether they cause into next year data dependent city is legitimate. >> because the president keeps talking about it. in fact he tweeted earlier this morning on the fed he said this, i hope that people over at the fed will read today's wall street journal editorial before they make another mistake also don't let the market become more than it is. stop with the 50 billion dollars in the wind down, steal the market, don't just go by meaningless numbers. good luck rights the president. do you think that fed gets political and will bees to the fed or is really what driving the fed the actual reality of this slowdown that we're seeing? which is what i mentioned a month ago? >> i don't think that fed gets political, and i think that market doesn't want the fed to get political. i hope that fed does not get political. i think they should continue to operate monetary policy by
looking at their dual mandate and we have to understand that as -- you know a lot of comments about don't say it is different this time. the laughter that tends to come about about when you say that. but it is certainly different in this environment with rates having gone to zero into negative territory outside of the united states. 25 trillion dollars added to global central bank balance sheets and now seeing that liquidity tie out and in a normal environment with tighter monetary policy and conventions higher volatile i in in equity market. you shorten duration between then and and a recession you typically get a bear market that's normal in a cycle i don't think we should attempt to change cycle this time. we are going to have the end this cycle at some point. we will get another recession we will have a bear market and ways we're in a bear market been in this stealth rolling bear market in a repricing of many higher risk asset classes due to this
different liquidity environment it is not a unique and abnormal situation other than the extent of the unprecedented monetary policy this time. >> well you have the liz, and steve forbes here you have earnings going up next year not as a -- robustly as they did after that tax cut. and the economy is still growing. isn't it really the trade uncertainty that is hurting now capital expendtures by businesses and the global economy? that if we got that out of the way then we would be roaring ahead again? >> i don't know about roaring ahead i think trade is certainly one of the near term uncertainties but tighter financial conditions has always put downward pressure on multiples ting that is under pressure because looking ahead to 2019, going from a buck 20% courtesy growth to tax cuts to mid-single digit keep in mind too that number one sector in terms of year over or year expectation for next year is energy. there's been almost no haircutting to earnings yet on the energy sector for the collapse we've seen in oil prices also hasn't been much haircutting for strength of the
dollar in the -- impact on exporters so ting that path of least resistance for 2019 earnings is actually down and we're not far from where we are -- toward potentially and earnings recession like we got in late 2015 and late 2016 so i don't think even if some of the trade concerns are alleviated that that is all systems go for next year. also, we've seen rate of change in the economy. better or worse matters more than good or bad when it comes to the relationship between economic ta-ta and stock market. now investors often forget that. it is not just is it good or bad or strong or weak. but what's the direction of change? and there's enough underlie weakness happening in some of the leading indicators the average workweek notwithstanding the recent move back down a three month up trend in unemployment claims see what icm new orders look like in next release. so those are some -- kind of in the armor that i think the market is keying off of. >> liz and first of all i thought your 2019 market outlook
piece was great. really great read. and i agree you that this strong dollar something people aren't focused on going into 19, especially with exports and manufacturing. but my question with to you is can you talk a little bit about lack are of inflation we're seeing and where do you see that impacting maybe a slowly raising rate environment and maybe a slowdown that feels a little like you feel like there could be a stagnation coming the way you kind of talk about it. >> right. so there are -- long-term global secular pressures down on inflation which i think will persist as, you know, in the near to medium term. what we don't know is whether we're going start to see cyclical pressures on upside curtesy of the tight labor market and that make it is difficult for the fed put them in a pickle unlike other central banks that have a single mandate and inflation fed has dual mandate of full employment and price stability and although we have price stability we have the tightness in labor market and increase in wages which is great
for workers. but could start to filter into rising core measures of inflation and given that core cpi is running above the the feds target, they have to operate right now with their mandates maybe sending slightly different messages right now and it is a difficult environment. for them but given that real rates are at zero right now, i don't think a hike this week suggests that it is a major mistake and they've gone way too far on the tightening side. >> any thoughts on oil where it is? is that indicating that we're seeing sharp slowdown? across the world, i mean oil below 50 -- is out of an indicator or going to be a positive for the economy, right? >> i think there's a component of it reflecting global demanding but there's also, obviously, the -- the supply side of the story as well. you know we're at a level now 48, you know, i'm not an expert on oil but there's soft a sweet spot high you have in to be above break evens for the shale and fracking companies. but low enough that it is a boost for consumer part of the sector. but remember when we saw the
collapse back in 2014, into 2015 it did lead it a four consecutive quarter earnings recession, and did cause hits to the capital spending side energy related. so we to have to be mindful that not a purely positive story anymore. as it relate it is to lower oil prices simile being a bipt to the consumer. >> i totally agree. liz good to see you this morning. thank you so much. >> thanks. >> liz joining us president trump just tweeted moments ago and here's what he's saying this morning illegal immigration cost the united states more than 200 billion dollars a year. how was this allowed to happen? now the government shutdown is looming on the horizon with just three full days left to broker a deal. our own blake burman live at the white house this morning with the latest on that. blake good morning to you. >> good morning maria white house officials are prepare for possibility that there could be a partial government shutdown come this weekend. we're told that president trump does not fire department a short-term solution in the name of one or two weeks that would essentially just kick the can down a road and have to deal
with this again in upcoming days. white house also a suggesting that the president's threat still remains. >> the president as he mentioned last week he would shutdown the government to increase funding for border security. now the key here is that we're going see what deal the senate brings up. and looking at a those details we'll basically make the determination in which direction we're going to go. >> so here's where things stand president trump wants five billion dollars for a border wall democrats, though, willing to give less than a third of that. for what they are calling border security, chuck schumer saying yesterday on the or floor of the senate, that the simple reality is this, that president does not have the votes on capitol hill to get his desired $5 billion. >> even with a republican congress, no threat or temper tantrum will get the president his wall. on the other hand, democrats are
altogether. >> maria there was a rumor at one pont yesterday afternoon that there would be some sort of compromise that would be presented from up on capitol hill. but that never materialized. it remains very unclear this morning where both sides go from here but both especially the president. >> blake thank you. blake burman at the white house this morning and tick a short break when we come back his severance has been a denied ousted cbs chief les moonves not receiving a package he expected as he walks out the door details coming up. and big business of baseball why major league baseball may be abandoning paid tv focus model i'll speak exclusively with mlb commissioner rob, coming up.
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i want that too. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? reeling in a nice one. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden sign of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. eliquis, the number one cardiologist-prescribed blood thinner. ask your doctor if eliquis is what's next for you. welcome back cbs says les moonves will not receive a severance package afterall
cheryl casone with the details. cheryl. >> that was worth 120 million. this comes after a investigation into allegations moonves sexual assaulted several women. according to the board of directors investigators found that he violated company policy breached his employment contract, and essentially pated to cooperate fully with the investigation. now cbs is not p now 18% so far this year. well, former nissan chairman carlos ghosn creating tension with the company management. that's according to "the wall street journal." which says that nissan executives belief that ghosn plan would hurt investments in japan. now ghosn reinmas in jail after being arrested in japan last month for allegedly underreporting income by 44 million. now he's denied any wrong doing taking a look at shares nissan they're down. 18% so far this year. the story continue towns fold. well boeing is feeling bullish about business aside concern about slowing if global growth company is raising quarterly
dividend by two dollars five cents share. boeing also boosting its share buyback program to 20 billion. maria ceo discussed what's ahead for his company with you recently. >> being expanded the business you've got commercial air space you have defense and then you've got services. tell us how business is right now. aero space is tremendous growth business we look out over next ten years as 8.1 trillion marketplace passenger traffic growing at to 7% per year sustained. the world needs if 43,000 new commercial airplanes over the next 20 years. part that have is 737 as we ramped up to 5 a 2 a month this year will produce at 57 a month next year. all right shares of boeing basically flat ahead of the opening bell actually excuse me they are higher pup by 2.5%. my apology maria there's the current premarket read on boeing looking good. >> that's one of the reason ares that market has scraitd this morning beauing dow component
>> welcome back technology giants underfire after reports says that they did not do enough to help election russian interference expecting big rally at the start of trading jerry good morning grow. >> a big rally but i have to tell you twitter, facebook goggle all having issues after third party studies two of of them written by senate intelligence committee concluded that companies did the bear
minimum possible and i'm quoting there, to explain the russian misinformation campaign and how they manipulated these social media sites. and the rechair extraordinary that's what we're finding out of the studies 126 million on facebook, 20 million on instagram, and today the ncaacp into the act returning donation from facebook. and they're calling for a day long boycott that is of the social media network. why, revelations that the plat formals used to manipulate black voters in 2016 election, aiming for voters to fresh it. c are oo there had something to be say about about this i quote facebook committed working with leading u.s. civil rights organizations to strengthen advance civil rights honor service raised a number of important concerns she say and i'm grateful for their candor and giant. guidance stocks moving higher actually in premarket. meanwhile oracle reporting last
nights considered a positive right despite that they reported flat revenue you talk to larry ellison recently about company and its prospects. listen. >> tell us where you find the growth stories within oracle and industry what's most exciting now? >> in terms of growth if you're looking at numbers two separate questions what do you think the the coolest new technology is that we're working on, which might not have shown new that and you know what is showing up in numbers what have we been doing well for a while so you can see it through the financial results? and that's our status applications. we are by far in a way the largest provider of cloud applications for financial accounting or for supply chain. for manufacturing, we have now 6,000erf customers for our fusion sweep. another 15,000 for our net week. erp customers financial accounting customers our closest competitor claims to have a
couple of hundred customers. >> so company reporting flat revenue for the quarter but that was better than wall street expected. the company stock closed down yesterday but will keep an eye on it through today maria back to you. >> thank you so much. on the floor of the nyc dagen your thoughts? >> i think that you have been so far had talking to technology executives i think that the people know can see the world 12 months ahead as they watch this program regularly. j all if growth and we've pin pointed growth in all of these sectors throughout the the year but you're right this year we have a number of the leading executives from technology on. >> ellison and numerous people from microsoft even steve ballmer talking about china. you name it. dan nile has been basically investors were watching this program they would have seen the down fall of apple stocks for sure. if they listened to your interview. ening he was excellent actually and he has issue ors in terms of what's going on with consumer.
so we'll see. i think it will be a good fourth quarter in materials of holiday sales what do you think in terms of the consumer right now? a lot of people coming to the program ahead of international shopping he said it will be a fantastic holiday shopping season what do you think how's the consumer right now? >> the consumer will buy but with an eye towards holding back in the first quarter of next year. they want to have a good christmas. they want to make everyone happy. but they're going to be very uncertain going into january what do we do next? >> a lot of uncertainties ow out there coming helicopter parent t putting themselves in financial danger reporting to adult children details coming up. plus mlb could be on move i'm talking future baseball with rob manfred after this. (toni vo) 'twas the night before christmas,
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welcome back to tuesday morning everybody thanks so much poor joining us it is tuesday december 18th. your top stories right now, 8:30 a.m. on east coast, bulls taking lead this morning take a look at futures indicating nice rally at the start of trading now we are off of the highs of the morning here but looking at a gain of start of trading two-thirds of one percent higher on dow almost 1% higher on nasdaq this, of course, ahead of the federal reserve two day meeting which begins today. the fed is expected to raise interest rates tomorrow for the last time in 2018. we're expecting couple of highs next year as well. european indices look like this morning a mixed story in europe with 100 down 27 point the cac in paris down 4 points and dax index down a third of a percent 37 point higher. asian markets close as you see here across the board. crude oil is big story this morning the price of crude now back below 50 dollars a barrel. for first time since october 2017 with decline of two and a half percent right now, at 4867. then the bank of mom and dad,
how participant are putting themselves in danger supporting their adult children. what is the cutoff there and we're going to take a look, coming up but first a big business of baseball, a lot going on in the offseason and it is all about about growth from streaming rides to bet on games to getting millennials back into america's favorite past time joining me right now commissioner of major league baseball. great to see you thank you so much for joining us so where is the growth in baseball right now? this is not your father's baseball game anymore is it? >> i think the growth for us over the last deck said is really been two places in our traditional media business, and in the digital area. we've been a leadser in that space at that leading sports app out there and it has been a great growth for us. >> gains on traditional broadcast television, still bringing in the money we know that. strong ratings as well for the traditional baseball. but you're moving also into
streaming. tell us what you're doing. >> well we were one of the first direct to consumer over the top products offered to the consumer weaves been a leadser in this space. the current opportunity relates to existing cable model and networks for sale and creature of the cable model but our ownership of the digital rights presents a real opportunity for the industry as a whole. >> a big opportunity so tell us have you seen any reaction from fans about this? j well i think our fans want to be able to consume the game on the platforms that they're naturally on that's why we have experimented with things with 30 games on facebook last year we have a relationship with twitter. youtube active respect to our product and it's important for us to deliver games in the way that fans want to see them. >> glad you mentioned facebook how did that go with facebook? >> most interesting thing about
facebook it gave us an audience that was dramatically different from our traditional broadcast audience and , obviously, that ten courages you to be more aggressive because you're not cannibalizing the product but, in fact, an added opportunity so we're positive on the experiment. >> now mlb is also emerging as a sooter for fox regional sports networks can you tell us about that? >> we're interested in regionals you be in 12 markets -- baseball on the regional sports nec is number one programming throughout the summer. in 24, 25 markets that we operate in more than number one programming on cable so regional sport networks are really valuable, valuable assets and we think that the combination of that traditional mode of delivery and digital rights we control is an opportunity for the game. >> amazon report interested in making a deal? >> amazon has been around the process. you know, exactly who is going to be in and out remains to be
seen. >> last time we spoke you were talking a little about technology an how you've inserted lots of tech into the gail to get people into the seats in the stadium how has that gone? a lot of people have -- the goods to watch the game at home on their big screen tv and they don't need to come to the stadium. >> i think baseball is fortunate. there's a huge differentiation between our in park product and watching the game on tv the the social aspect of it. it is really are important to a lot of our fans and we've been very fortunate in terms of our ability to continue to get people to go to the stadium. but i think in order to continue that trend, it is important that we deliver to fans, opportunities in the stadium and the best way to do that is by technology. great example is our ballpark app, gives fans the opportunity to look while they're in the stadium, and find alternatives in stadium while they're there. j i love it all right let's talk about sports belting buzz you recently announces a gaming partnership with mgm reports
tell us about that. where does gambling model for baseball go at this point? >> i think it's -- important to pick the right partners and mgm fit that bill. we wanted to partner that we could proceed slowly with that we can make sure that we always protect the integrity of the game. for us right now we see it as a sponsorship fan engagement opportunity, you know, fans are always looking for ways to get a deeper involvement with the game, and sports betting one of those avenues. >> we know people are betting why not do it in legal platform? >> i think all of the commissioners two of the major sports greater or lesser extent recognized that sports betting going on and we're better off legal than illegal. >> exactly so let's talk about game in general because it is slower than other sports game and that has some people thinking well's for my father pane grandfather engaged young
people engaged into the game? >> i think i can mention four things number one is technology nothing millennials like technology and technology been a leader for more than a decade secondly our clubs have done a financial job about resigning stadiums, having what they refer it as millennial areas they're more like bars, flexible seating arrangement flexible tickets arrange wment a pass for month to go wherever you want and don't stay the whole game but you're there and in the ballpark and then i think there's ancillary items like food we did a -- started a new program last year the mlb food fest had tremendous interest here in new york and it featured the ballpark food that a lot of our fans love, and we know millennials and food go together. so those are just three examples of thing we're trying to do. >> what should we expect for ticket prices? >> look our ticket prices -- i think have grown at a very, very mod pest rate.
we remain the best buy in sports in terms of the opportunity to attend a game live. and from a pricing perspective our theory has been that we need it be a family friendly price product. >> yeah because this is a family outing. it is indeetdz and we think that's an important part of how game gets passed on to next generation. i think a lot of us i certainly do have memories of my parents taking me and it started the love of the game and we think that's fund mental family activity is still really important for us. >> so we're in offseason and seen some big trades tell us about that. robertson going to the mets do you want more blockbuster trades like that? deals this offseason? >> i do expect that -- the activity will continue to be high through the offseason. our calendars moved a little bit. it used to be by the time you get to the holiday break that a lot of the afnght done in more recent years we've seen that continue into january and
february i think that's good for the sport is generates during the offseason. >> what about free agent class brice harper how much money does it take to land some of these guys? >> you'll appreciate this market will determine how much money -- >> record-breaking deal. look two great players that entered free agency, at the the a realtively young age, and i think they're going to be appealing to clubs i'm sure there will be a lot of activity for both of them. >> what are you expecting in terms of the year ahead give us your expectation. >> i think we're looking forward to -- another great year one of the great things about baseball in sort of our modern incarnation is competitive balance that we have. i think last year some of the surprise stories from clubs the people didn't think were going to be get thetive clubs like tampa, i think make for real excitement for tampa okay okay land so we're hoping that we have those surprises that
continue to drive fan interest. >> great to sees you. thank you so much. commissioner rob manfred there coming up going back to its roots how nation's oldest brewery is celebrating 190th birthday. then a warning for parent you could be putting yourself in financial danger if you're supporting adult children. the alarming new study right after this. ♪ introducing add on advantage,
welcome back two police officers were killed in line of duty cheryl casone with the details now. shale. >> chicago police department says officers eduardo fatally struck by a train. well they were looking for a shooting suspect, they were investigating a shots fired call on the cities's far south side both officer as served less than three year on the force. chicago police say the suspect was later taken into custody. well a judge in missouri has decided to add a special feature to a deer poacher sentence david berry and four men had hunting privilege paid 51,000 in fines for illegally killing wildlife but judge ordered barry to watch this every month. >> quick, the second -- faster bambi. birr rei has to watch disney class pick bambi at least once a
month during year long jail sentence. [laughter] can't make this up. conservation agencies called this poaching case largest in missouri history okay. and then there was this. taking a page from its history to celebrate its 190th anniversary oldest brewery in the united states and they're rolling out five limited edition cans of liquor and show how breweries label change since 1829. now they're going release a limited edition bourbon barrel aged beer those aged in caves. they were dug by hand back in the 1800s finally there's this a three-year-old boy nailed national anthem before syracuse women's basketball game. ♪ ♪ and the home of the brave ♪ [cheering]
yeah he's three. traik winslow got a -- huge ovation from the crowd he belted out anthem didn't look at the words maria he just knew it and sang it. >> i love it. great. i like the bambi movie too you watch it you're going to like it. >> watch that every month buddy. stop hunting. thank you so much. coming up taking care of adult children a startling new study out with a surprising member of adults still living with their parents. stay with us. this is not a bed.
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american parents spend money to support their adult children that number remghts twice amount those participants are investing in their own retirements. joining us right now is author of the upcoming book everyday millionaires ramsey solutions financial expert chris hogan good see you. >> good to see you. thfnlg study is basically saying you are supporting your adult children, as they get older, that money is being taken away from your own retirement. >> it really is. and it is alarming maria. i mean 63% of the parents say they've sacrificed their own financial security to be able to help adult grown children. so what parents need to do is set their kids up for success. help them to learn how to be independent by teach them money skills how to deal with it. another aspect of the study said one in four people in homes are either working or going to school. so i want to know what are they doing? >> do you think that -- do you see "forbes" here do you think that the booming economy bringing people back in the labor force is going to --
help the situation get the kids out of the basement before they reach are eligibility for social security? [laughter] >> well, steve i think you know the job and the booming economy is one thing. but if you don't have motivated young people that don't know that they need to do something i don't think anything will change so ping parents need to understand there's a difference between helping versus hampering, these adult children. help them did a e resumé help them get out get any job to have income coming in. >> chris i want to play devils advocate here 20, 25 years ago 529 was not a big thing savings plan for colleges all a of the type of things so today kids are coming out of school, with much more student loan debt than they have had. wages are slowed since they've actually entered their adulthood. and so, what do you say about those causes that actually in some ways forces the parents to be a helping hand? i just could play other side if you look at the last decade.
>> well i think we can always look and see how things are changing. how inflation causes the cost of thing to be able to go up. but i'm here to tell you you can go to school without taking out student loan. you can work at night and go to school during day or work during day and go to school at night so i think there are opportunities that are out there. there are pieces that need to be delivered jobs that can be done what we don't want to do is make excuse for those not moving forward. i don't think any parent want to hatcher their child but set them up or for success so it is taking steps in the right direction your name is mom not atm take care of business. >> i like that it is the economy chris it is the i want it and i want it now -- ia piece i want a cream cake and donut and fruit cake with no nuts give it to me now and that's the parent 'fault. >> well i agree. young people are kids. there's a difference between kids and grown adult children.
parents lot of kids and they want to show love to their kids. but i think we have to be careful that we're not spoil them and setting them up of to this expectation for everything they want right when they want it it's okay. it is culled a plan you save up and then you buy. >> all right cut them off chris that's your are advice thank you so much. chris been joining us there. final thoughts from all star panel stay with us. we'll be right back. ♪
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couple of months with the main culprits being what you think it is this trade uncertainty steve, we also have a federal reserve meeting which begins today we are expecting feds if raise rates tomorrow. >> yes, that's been signal for months so that wouldn't be affecting the market. but uncertainty back trade is hurting investment hurting capital expendture hurting economies around world. >> you want a china deal. >> i want a china deal sooner the better. >> i don't know how soon that is going to happen robert. there are sol real issues that china, chinese are doing like spying espionage like you know not opening up its markets to foreign centers and stealing ip -- >> speaking about this for a long time but a lot of over the last few months. i'm completely supportive of president trump playing hardball with china on intellectual property and patent i think there's ways to go criminally after them with with espionage okay stealing our business in patent that being said steve scwhi would agree on this we don't support the policy of
tariffs. it hits back at our own consumer and largest nation in the world of consumers 75% of our gdp is consumption you're taxings them so i think there's a better way to go about it. to answer your question in long winded approach i don't see a trade deal coming in next 60 days since day in december 1st. >> i have to say dagen you were on this tariffs particularly steal aluminum tariffs you saw it would cut into profits to hurt the economy that's exactly what's playing out in markets right now. >> right you are right. and has a policy and president is tweeting -- you know, relentlessly about federal reserve and may not be able to control jay powell to run him central bank but he can control tariffs that have been slapped on american businesses. to the point that rearalluation from china is called two of corporate welfare for farmers in this countries. >> maria if i can say one thing think about this circle that has taken place we have fallen from
china and then we do trade tariffs and now we're talking money we've borrowed from china and gave 9 billion dollars to the farmers who are being hurt the by the tariffs. i mean if that's not a circular disaster, i mean, honestly. >> it leads me to the conversation of money, and you have a documentary that you are -- launching tonight previewing to the in money we trust steve forbes tell us about it. >> done under maryland public television a pregnanting station but history of money over 2500 years based on book that i coauthoredded several years ago, and it makes point when money is trustworthy society is prosper, when money is unstable as it has been in recent years you not only see economic consequences but also social consequences as well. we demystify money there's too much jargon around it and play it out simple. >> what about today paying they rent with butter. >> we have that in the film. >> i knew you would.
i knew you would that is great so in money we trust is the film congrats on that. >> over public television stations -- january and following. >> we look forward to it. great show everybody. great to see you dagen, robert and "varney & company" begins now. stuart take it away. >> good morning maria, good morning everyone. how bad is it on the stock market it is real bad. the the 500 stocks on the s&p have lost, 3.4 trillion dollars worth of value since late september. 2,000 stocks are at their low of the year the dpow has lost 1,000 point in last two trading sessions so -- how about a bounceback? try this -- the dow will open this morning with a triple digit gain of a nasdaq will be up about a half percentage point. that's not exactly a full bounceback but you never know how this day will progress. i've got to fell you that today action will focus on federal reserve and what they'll do with interest rates. big announcement is tomorrow we will show you what