tv Mornings With Maria Bartiromo FOX Business January 7, 2019 6:00am-9:00am EST
dow industrial is expected to be up just a fraction this morning. the s&p is down about one point in the knapsack right now down eight to half. after a huge gain on friday led to a positive week for the major averages for the week. after the big job numbers on friday. at the close up 740 points. it is also up three to half percent at the close on friday. and the nasdaq with the 270-point rally on friday. on four and a quarter percent on the day. in europe this morning take a look at the indices. take a look at this right now. it's showing mixed performances. we will get the graph put up there. the cat concert in paris is on one third of a%. and the dax index down 34. asia markets also retire overnight. take a look at the asian indices right now. the shanghai composite up
three quarters of 1%. the shutdown showdown continues. it is not week three of the partial government shutdown over funding to the border wall. president trump said there may be more talks this upcoming week. i think we are going to have some very serious talks come monday and tuesday and wednesday is going to get worse and worse. both sides really digging in here. the president said he is now planning for a field wall and set up a concrete wall calling it stronger and less of true sin. david rhodes is out as president of the cbs news. the choice is a first for the company. with the details coming up.
we will tell you where elon musk's new pencil factory is making itself at home. disrespect at that golden globes. all those stories coming up and treating me from new york our own dagen mcdowell and lee carter. >> great to see you. we wish you were here we cannot wait for that particularly what we will hear tomorrow. maria: with this conference underway. it is the most will attended investor conference. and that is certainly the headliner. and there is a ton of healthcare ceos. i'm interested in seeing what they have to say. i know you had have an incredible two weeks for markets.
>> it kind of takes your breath away. it has been a gut punch and then you are for it one day after another. we will get the fed minutes out in the middle of the week. a lot of this is driven by the federal reserve. it was kind of some very calming comments. mid-day a lunch session. in the vice the vice chair will be speaking that evening at nyu. that is on thursday after the fed minutes come out. one thing for sure this week it's good to be a wild one. maria: i will be sitting down later today with an exclusive interview with j.p. morgan and jamie diamond. interested to see what he has to say about the potential growth slowdown across the world. him being the ceo and leader of the largest bank.
the last time we saw the sell off jamie diamond came and said i'm really putting my own money to work i will buy back our stock. he tried to tell the world that he did not think anything was fundamentally wrong. getting his sense of where the consumer as is right now and how the economy looks in terms of this expectation of a growth slowdown would be key. then there is the shutdown. and i have lots of commentary this morning about how the american people as both sides really dig in. >> it's been fascinating to watch. it is so tribal out there. you want him to stand up and make this as long as he can hear on the left we are looking this and blaming of the present saying this is the
worst thing that could ever be possibly done and have totally different perspectives. i think that's part of the problem. we just don't know who's going to flinch first. >> we are more talks this week and we will be covering ever end of it. we've all of that coming up on the program. we are looking at markets. futures are flat this morning. all negative right now by about a quarter of a% lower on the nasdaq. you heard it here first 312,000 jobs were created for the month of september -- december. the fed is in no rush to raise interest rates. joining us right now is titus wealth management. it's great to see you this morning. your reaction to all of this going on in markets right
now. essentially what we are seeing now is that people think it is a pre- fall. we are looking at some different perspectives. we heard them on friday. it's can be a little bit more accommodative the tenure has gone from 256. there is not a lot of yield there. the jobs numbers look great. the government shutdown those are all really the main things. you've a great economy. the jobs numbers are proving it. on the other hand you do have valuations have become more attractive after the last two months of a sell off. there is a reason to be bullish here. something i was talking about last week.
because the yield has fallen so much that alone makes stocks look more attractive. with the discounted cash flow analysis. the 2.66% really puts a floor in under the sell off that we've seen. we have a major rebound last friday. does it surprise you that they are raising interest rates and the tenure is going lower? >> we talked a little bit about the rates. that was baked into the cake. this scenario is quite different. they said that the dividend paying stocks are starting to look really attractive to us. the dividend stocks look good. if we can get some resolution on the tariffs we can get some
good things. there is the broader issue of a slowdown. when you look at a company like apple. it's been the face of the slowdown so far. they are reporting that the technology giants iphone acts are is falling short of expectations. one of the issues that dan niles from alpha point capital brought up, he predicted problems for apple and he was on this program and the stock is down 30% since he predicted those. he was saying that the phones are frankly too expensive. now they're having issues they are having issues with the low end of the phone. >> are we looking at fundamentals. this is the exasperated by the fact that the year-over-year inventory growth in the june quarter that they reported.
the revenues were up 17%. what if it doesn't sell well. they will have to burn the inventory off when we get into the march quarter. then one phone. they are trying to boost it for another hundred dollars. if you look at smartphone units overall. this will be the first year in history that smartphones are down year-over-year. maria: he was so right on it. he is going to be joining us coming up in the program. i wanted to get his take on it now. but three phones selling for more than a thousand dollars in places like emerging markets where the average gdp per capita is $16,000. how are they going to afford a thousand dollar phone. i hear things like it has to be consumer brand. were talking about apple pay, and search engines and apps in the company well had to morph
into a brand company. they've a lot of cash. they could go out by the sales force. the valuations look pretty good on apple. i wanted to ask about biotech for a second. here you have a situation where apple has come way down in terms of valuation. they still have the issues of selling at the expense of phone into the emerging markets. to name one of the countries that is a problem. if you compare apple to a microsoft using a resurgence in microsoft. that's because the original business is in installed base of upgrades with corporations.
as you try to extract more money from the consumer guess who is going to bear down on you. the government. as regulators, and antitrust inquisitions. that is a very different picture. if you are squeezing money out of businesses. they don't really care that much. but when it's consumers that's when you get heat from washington and around the world. that is another problem for apple. i don't get enough people are talking about it. as a result of the trade war that's going on with china they are trying to sell expensive phones into the emerging markets like china and india which are all actually falling short.
>> you can also see they are taking a recreational hit. this is the brand that really stinks for me. it's really ahead of the curve. you have to change that from a reputational issue as well. i wonder if that hit has to do with the expensive phones also. let's talk healthcare for a moment. maria: that was the headline last week what does that mean for the industry and where are you investing. i think it was $50,000 cash that is if the deal goes through. obviously they have to get some approvals and whatnot. if they can get two or three. they have a really tough
time. the stock is hundred 40. they are priced at 102 right now. the company was buying back shares as they were dropping tough to predict these types of businesses and a conference route this year. frankly healthcare is the future in immunotherapy and they have the genes. it's really can work out. maybe they are overpaying for the company. great question. believe it or not. biotech really bounces around quite a bit. haven't gone anywhere.
we've been trying to dip our toe into that water. it is such a cyclical business. in the pipelines are so long. maria: we will leave it there. exact sciences. is good to see you. let's take a short break. we have a shakeup at cbs to tell you about. his replacement as is a first for the network division. and then breaking ground. all of that right after the break. i hear it in the background and she's watching too, saying
david rhodes is out as cbs news president. >> he is stepping down after the network's ratings fell last year. after a confrontation with a cbs news reporter. he will be replaced by susan german ski a 40 year veteran. she will be the first woman to lead shares are down 18% from a year ago. they are breaking ground on the first gig at factory outside the united states. tesla said that it will produce up to 500,000 card --dash my cars per year. as it faces rising competition
from local electric automakers. this is what elon musk just tweeted. the start model. end of year. in the high ballot -- high-volume production. they are trading on the upside. apple announcing a deal with its major rival. offering i choose movies. on the smart tv. smart tv. a new itunes app well debut in more than 100 countries. they recently launched it. the shares right now down 27 cents. a good story on tesla. they are fashion -- fascinating to watch. just when you think it's can be guns out and they they seem to make some kind of a comeback.
there are a lot of people out there who had questions about whether or not they are going to make it. stephen short thinks that the growth in all electric vehicles will actually have a huge impact on gasoline demand in this country and around the world. there are a lot of reasons to keep oil prices low that's for sure. week three of the government shutdown is on. present trump looks for more talks over funding for the border wall. new ways they are looking to tackle the addiction. we will take a look and speak with one big producer. stay with us. the day after chemo shouldn't mean going back to
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welcome back. the opioid crisis every year. they receive prescription drugs to manage pain. but misuse has sparked a deadly epidemic in this country. on average 130 americans die every day from opioid overdose. richard you had one of the few medicines on the market we have a drug called the patrol. it's the only fbi -- only approved medicine that can help you detox from the opioid receptors in the brain. your treating and opioid
epidemic ours though is for patients who want to get off of that merry-go-round and not be addicted to it. undergo detox. in your medicine has been on the market for several years. tell us about the growth. it's growing in a market that's not an established pharmaceutical market. there are there's so few in this market. it's on the order of the 300 million-dollar more and more people are dying each year. when someone has this problem oftentimes they will go to counseling.
they are doing a good job of actually actually allocating new funds from the congress to the treatment of opioid dependence. the states then have a range. half of the treatment centers in america don't use any medicines at all. there is an important public policy here. you have this epidemic obviously. what else you head in the pipeline that you're looking forward to. the little company fighting hard to change the treatment system in america. when we first developed the drug. we thought it would be the path to the door. the treatment center itself needs that. we are actually investing more and more in public policy initiatives and working with partners and chemical justice.
the federal government has really made this a priority. i think the federal government is doing a good job. in the states are where the action is. the federal funds go into the state. as i said. they have really advanced evidenced -based programs. others are usually mostly counseling which doesn't do a whole heck of a lot was someone struggling. richard, it's good to have you on the program. thank you so much. coming up next. taking on the vicious feelings debate. the fallout over her new comments on taxes.
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juergen is maria bartiromo the special edition of mornings with maria. good monday morning everyone. thank you so much for joining us. it is monday january 7. your top stories is 6:31 a.m. they are set to begin once again today. the markets are inching lower this morning. they help lead the market rally and we get into all of
that coming. it's up 770 points. as you can see there. european markets this morning are a fraction lower. asian markets are in the green overnight. going upward. aoc going after president trump in 60 minutes in an interview last night. and the big news from lowes. they are planning to add thousands of jobs in the new year. with details there. and then disrespect at the golden globes. the shocker in his acceptance speech.
the controversy and more coming up in sports right here. one one-on-one interview. be sure to join us tomorrow morning. what's going on with these markets but first the top story. a shutdown showdown. it continues at partial government shutdown. it's now entering a third week with no border wall funding deal insight. i spoke with richard shelby about where we are now. >> tell us where we are in terms of being at an impasse on the border wall funding. this has become a political circus of a lot of people on both sides are calling names and so forth. we need to secure our border.
were far away. we have to get down to the rational thinking. -- this could be settled in 24 hours or less if we could get together. maria: joining me right now. jason clark. given the fact that both sides are digging in. we are hoping that it is is going to end soon. this is one of his campaign promises. without border security. and this is his way to getting him to actually get to that issue. they do not want him to have a when.
they don't want him to be able to say i kept another campaign promise. they're going back and forth with semantics. now they wanted to be a steel fence rather than a concrete wall. we have a president who wants a wall. they control a very small slice of government. you have an interesting platform. it is in and of itself a sanctuary city.
we have a lot of san francisco democrats who are were now taking power in san francisco. as a go. and maybe even parts of the country. we are here actually on the home turf here. to call them out on some of their more atrocious policy. you are wondering if it is resonating with the american people. who is winning and losing here. that is something that is so fascinating to me. the real issue is. they need to see this.
and if he caves on this. maybe made some deference that he was going to make some kind of compromise. there is a lot of backlash. when you look at the democrats there is no incentive for them to back down because their supporters are be just as excited that they're sitting up to donald trump in their republicans and say no, we don't want to do this. i don't know where the incentive is for compromise to get done. if either one of them caves then i think we will lose some support from their base. >> i think it's absolutely right. you've a lot of people who elected donald trump because he promised to build this border wall it for pursuits like maybe virginia or iowa a border wall is not a priority
but here in california we are up to 10% of the population. california is now home to 40 million people. maria: what is your take on this. aoc was on 60 minutes last night calling herself a radical and she took on president trump watch this i got to get your reaction. >> i think it only has ever been radical for the change of this country. would you call yourself a radical? >> , radical.
there is a lot of people more concerned about being precisely factually semantically correct about being morally right. >> been factually correct is also important. >> absolutely. >> this was clumsy. and then i restate what my point was. it's not the same thing as all. why don't you talk about president trump very much? >> i think he is a symptom of a problem. he certainly didn't invent racism but he certainly gave a voice in a platform for those things. >> do you believe that president trump is a racist? >> yes, no question. >> is very typical.
come in with ideas. with radically changing the country. it means actually developing a huge welfare state with no means to pay for it. let me bring dagen mcdowell in. 70% tax rates for the rich that would be almost double where they are right now at 37 percent. if you have a federal level of 70% as she would like to see to pay for her green initiative. the top earners what are you up to 85%? >> we
know according to the tax foundation they already
pay 80% of the tax. >> the great
liberal lie is that the rich are rich enough to pay for all of these newfangled ideas about socialism and the welfare state around the globe. the rich are not rich enough. i will point to this. here is a liberal lie that somehow the middle class and lower income americans won't get hit by all of the taxes that are necessary to fund all of these crazy ideas and yes they are crazy because they went bankrupt the united states of america over in europe look at france. people are taxed across the board. there are consumption taxes there are value added taxes.
very high gas taxes. to think that the rich are going to pay for all of this. you could confiscate every single penny of adjusted gross income. that would still be more than a trillion dollars short to pay for medicare for all. you can generate the revenue that you're talking about. by just taxing the top 1%. that's why she got into this fight with steve schooley's scalise the other day. this whole life that the rich are not paying their fair share displays will with the democrat constituents. it's very interesting because when we look at history in 2008 when the rich lost all of the dollar more than any other american or group in america cities like new york and california they found they have no money to pay for
hospitals and police. we are breaking news we want to get to right away. eli lily will be inquiring that. we are seen an increase in healthcare deals. they are announcing a merger. it has a shares up 3% right now. acquiring this company at $8 billion. they are announcing the additional jobs in new york. with those details after the break. a strange think you last night. thank you for giving me inspiration on how to play this role. they take a nasty swipe. we will tell you more right after this.
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avalanches. in california and nevada and utah. rain is pounding the california coast. the heavy rain also leaves parts of the pacific coast highway closed. that area is still recovering from devastating wildfires as you know. 60,000 seasonal positions. in simple finance business. it follows the december jobs report. big night for bohemian rhapsody. he took him best actor for his drama also won best picture
drama. the other big winner of the night was green book which took home three gloves including best comedy or musical. the award show maybe -- mainly stayed away from politics. he portrayed as the movie vice. i will be calling the market. thank you for giving me inspiration on how to play this role. he won the golden globe for best actor or musical for his role in vice -- vice. he was arrested for an assault on mother and sister and then she linked an article from the
kick return. watch what happens. that seems impossible. a seasonal and on the double point. thank you very much. the eagles advance. they held off a furious comeback. they beat the ravens 27-17. they move onto on to new england next weekend. >> nfl playoffs. we have an exciting game looking ahead to the national championship. thank you. if you had been wondering where i had been have been the last two weeks i just came in
from a two-week vacation. we spent an overnight in the desert there is my husband and me it was such an incredible trip because the overnight in the desert we were literally in the middle of nowhere. we slept overnight in this tent. my husband and i and some friends. and actually why we were there i got to do something i've never done before and that is i wrote this chemo. he was incredible. it was such an amazing opportunity for me. as the northern tip of africa. right below spain. and literally, there was nothing there. we sat there and we have an overnight and dinner there. then we went back to morocco in the city and we went shopping i wanted to tell you
where it was. it was such an extraordinary trip. i have a great time. it's the first time in a long time. you have a really deep abiding appreciation of love of natural beauty in all things because people that follow you on instagram and twitter knows that you love a sunset. i don't think anything tops the sunset in the sierra desert. >> my husband claimed he was allergic to the chemo. so he didn't do it. and then we sat there on the
top of the sand dunes and we watched the sunset in the number of stars in the sky was absolutely incredible. i know you have an incredible two weeks. happy new year. disney is hiking prices, what you're gonna see. (clock ticking) (bell ringing) it's time. time for a new kind of cloud. the ibm cloud. the cloud that proactively protects your business from threats, instead of just reacting to them. that lets you modernize and move
maria: good monday morning. as the sun is rising here in san francisco, good to have you with us. it's monday, january 7th. i'm maria bartiromo. here are your top stories, 7:00 a.m. on the east coast. wall street drifting into the red this morning ahead of trade talks between the u.s. and china, those talks set to start today. president trump is optimistic over trade deal. >> the china talks are going very well. i spoke to president xi recently. i really believe they want to make a deal. the tariffs have absolutely hurt
cichina -- hurt china very badl. our country has taken in a lot of money through tariffs, a lot of money. maria: markets this morning are showing weakness. it's fractional moves. the dow jones industrial average down 8 points right now, the s&p 500 down 4 and the nasdaq is down 20 points. this is after a huge day on friday, big gains on friday, led by the jobs numbers and that led to a positive week for the major averages. the dow jones industrial average was up 746 points on friday, 3 and a quarter percent. the s&p 500 was up 3.5%. the nasdaq was up 4 and a quarter percent higher on friday. in europe, the major indices are mixed. cabbinmix the tax dax index is 2 points. the best performer was japan in
asian markets. breaking news this morning, eli lilly is announcing an $8 billion deal to acquire luxo oncology. eli lilly shares are up 3% on the news. we've got details coming up from the jp morgan health care conference. shutdown showdown, we are in week three now of the partial government shutdown over funding for a border wall. president trump says he now is planning for a steel wall instead of a concrete wall. calling it stronger and less objecobtrusive. we'll have details on the extraordinary steps the trump administration is taking to keep national parks open during this shutdown. well, a word on privacy, apple is taking a swipe at google and facebook with a full billboard across from this year's consumer electronics show. we'll tell you about it. wait until you see this. big names set for ipos this year, we're taking a look at the most hotly anticipated offerings for the new year. new year. we've got familiar names like
uber, lyft, airbnb, going public this year. we've got a preview. check out this video from the world's largest ice festival in china. more on the incredible visuals coming up this morning. all those stories coming up this monday morning. joining me to break it down are dagen mcdowell and lee carter is with us as well this morning. good morning, ladies. dagen: good morning, maria bartiromo. maria: i'm here for a health care conference we know. i'll be sitting down with an exclusive interview with jamie dimon. i hope audience will catch this tomorrow morning at 6:00 a.m. eastern for that in depth interview. you don't want to miss that tomorrow morning right here from san francisco. the last time the markets were so volatile, jamie dimon said i will buy into this weakness and i'll buy stock personally because he didn't believe it. i guess the story of this growth
slowdown across the world is front and center and i want to know what he thinks about that. dagen: he has an incredible insight like no one else into the state of not only the u.s. economy, but really the world. and the health of the u.s. consumer. and you saw what that incredibly strong jobs report last friday for the month of december, this is the strongest year of job growth we've had since 2015. so the u.s. consumer looks healthy. the question is, does this down-draft in the markets, does it impact business spending, business investment hiring by corporations. so he can -- ultimately, that could damage the u.s. economy and jamie dimon can speak to that, of course. maria: because of the consumer being so critical in terms his f his business, i want to get your take on what the consumer is feeling this day. we've had a front row seat throughout tim police
departmentatiothe implementatio. you said the messaging wasn't very good from the republicans, that even though people were seeing more money in their pockets, a lot of people didn't realize that. >> i think it's been fascinating to watch. even though going through the mid-terms we saw the republicans, the only thing they were getting credit for was the economy, really. they didn't get credit for the benefits of tax reform, they didn't get credit for specific policies. the question is how will they feel right now, with the l volatility with the market, we know we had a great holiday retail season and that would suggest that consumers are still confident. however as we see ups and downs and people are saying i don't know what's going on, i don't know what to expect, 350e7 peopg are talking about the big r word, recession coming later on this year, what will that do for republicans and the messaging on the economy. that's the only thing they get credit for. health care, they get a big miss for that. immigration, a lot of people are
disappointed that wall hasn't gotten done. we'll see how this plays out. i'm not so sure that the consumers right now are feeling as confident as they were a few months ago. maria: people are worried about a slowdown, that's for sure. we are seeing the consumer slow down in places outside of the u.s. for sure. like the emerging markets, we see that through apple, among others. we'll keep following this. our top story this hour is striking deals. health care has been a hot sector for markets. this morning, futures are mixed. investors are watching and waiting for details out of the new round of u.s./china trade talks that begin again today. right now we've got news breaking, eli lilly announced they're going to acquire luxo oncology for $8 billion. this on top of a big deal last week, bristol-meyers squibb's $74 billion acquisition of celgene. joining us now is antoine peppernick. it's good to see you.
characterize the deal flow within health care, '18 was a hot year. >> '18 was a year of records. there was $50 billion of acquisitions that year alone and which was about double what '17 was. it wa was an amazing year for acquisitions and ipos. it was a year of records. it ended up with the markets down but ultimately what we remember is that this was a great year. maria: you're absolutely right. i want to get back to the eli lilly news. i know the health care deal flow has been picking up again. i was so struck at the end of last year to see so many ipos filing their paperwork with the s.e.c. even as the markets were cratering and volatility was increasing. i know there were a couple that say we're going to hold off, said maybe we'll sit on it. you've got technology unicorns
pushing full steam ahead on 2019ipo plans. this year could be a record year. you've got uber, lyft, pin pinterest, airbnb, all in the pipeline to go public. some of these deals are more than a billion, more than $10 billion. these are sizable deals. >> absolutely. i think it's going to be difficult to beat 2019 -- to beat '18 for '19, that's my opinion. if the m&a is as heavily as it looks, i think for us investors whether it's through the ipo market or through acquisitions, i think health care is going to be a very good area to be in. maria: at this health care conference, deals get done. oftentimes you see the principles talking about or finishing conversations that started at another time. so i would not be surprised to see more flow but interesting to he see the eli lilly news, they announced it this morning.
>> this conference is the bell weather of the industry because of the beginning of the year, i've been coming here for 23 years, every year there's something happening at this conference. it sort of sets the tone, the mood for the sector. so last week or just at the end of the year it was very uncertain what the mood was going to be but with those two deals, i think the moodies generally -- will be very good for this conference. maria: how are you feeling about markets here after all the volatility you've seen? would you be putting money to work right now? >> volatility means there are companies in there that have suffered from the down market and are basically trading today much below what their real value is. a situation like this, this creates opportunities. public investors clearly have -- are looking at this as what are the companies today that are the value companies for the next few months. maria: you're looking for good valuations? >> yes. and they are wonderful valuations, those companies that were beaten down. maria: where?
>> on the nasdaq here, we invest throughout europe and the u.s. so we look at this globally and right now even our european companies listed on nasdaq have been suffering some of them from the general market dynamics. if you look at the fundamentals of health care, there's wonderful value to be taken there. maria: we'll leave it there. great to have you on the program. thank you so much for joining us. investors are watching for any details out of this fresh round of trade talks between the u.s. and china, lawmakers are in washington, feuding over border funding meanwhile. questiokevin cork islive at the. >> reporter: u.s. officials in beijing hoping to find a way to end the trade dispute with china which has been hammered by u.s. tariffs of. the president of course yesterday made his way back to the white house after spending a few hours at camp david. he said he was confident that
things would work out and it would be boom for the u.s. economy. >> the china talks are going very well. i spoke to president xi recently. i really believe they want to make a deal. the tariffs have absolutely hurt china very badly but our country is taking in a lot of money through tariffs, a lot of money. a lot of tariffs. steel dump tariffs and others. but i think china wants to get it resolved. their economy's not doing well. they're down close to 38%. that's a lot. >> reporter: a lot indeed. and don't forget, day 17 of the shutdown, maria. we'll have more coverage of that as we learn more from the white house as they continue their outreach to congressional democrats. now back to you and the beautiful city of san francisco. maria: thanks so much. kevin cork at the white house. coming up, keeping america's treasures open, the trump administration takes major steps to keep national parks running during the government shutdown. we've got details next. a frozen city, china's ice
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maria: welcome back. britain's parliament set to vote next week on a plan to leave the european union. lauren simonetti on headlines now. lauren: government sources tell the bbc the vote on theresa may's controversial deal is due to be held a week from tomorrow. may was forced to postpone a vote in parliament last month to avoid a defeat. meanwhile, more than 200 members of parliament have signed a letter urging theresa may not to have britain leave the e.u. without a deal. well, here at home, no end in sight to the government shutdown.
the national park service will take an unusual step to stay open. it will begin using entrance fees, visitor fees to pay for staffing at the highly visited parks. officials say the money would be used to bring in staff to clean the bathrooms, the trash and patrol the parks. so far, the parks have been relying on outside help for security as well as upkeep. the incoming democratic chairman of the house natural resource committee says he's going to look into the legality of such a move. and hopeless romantics will soon get the chance to see the notebook on broadway. >> why didn't you write me? why? it wasn't over for me. i waited for you for seven years. now it's too late. >> i want all of you forever, you and me, every day. lauren: the romance novel by nicholas sparks turned into a smash hit film, it is now becoming a musical. sparks is teaming up with kevin
mccollin who received three tony awards for best musical, one of them being "rent." ingrid michaelson will also work on this new project. i'm excited. ladies. maria: should be good. thank you, lauren. coming up, future of corporate real estate, find out how companies are changing the way they you'd office space and what are the prices right now. we'll get the lowdown. disney is raising prices, family vacation is withouabout to get , details after this. ♪ as long as you are there. ♪ come on every guy, grab a girl, everywhere around the world. ♪ they'll be dancing. did you know with vanishing deductible, you can earn $100 off your deductible for every year of safe driving?
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maria: welcome back. corporate real estate 2018 seeing major developments within the sector, announcements made by apple, google, amazon, all investing in new technology campuses. my next guest runs a unique investment trust. they focus on life science and technology campuses. joining us now is alex an descra real estate -- alexandria real estate investment chairman. you have a unique business. what we're seeing in terms of the growth in expansion, these new campuses is exactly your sweet spot, where you have been developing for so many years now. >> they are. we focused on the irreplaceable clusters where the technology and life science companies want to be and along transit lines, in major urban locations which enable them to attract and retain great talent. maria: we're waiting to see
what some of these campuses look like, google, apl pell apple amy have great deals. how is business right now? >> it is as good as it gets. it's not thought of in the macro markets but supply is very constrained. demand has been very strong. in fact, we deliver here our pipeline for 2019 where we actually deliver completed projects, about 2-poin 2.5 milln square feet, almost 90% leased. in be bay area we deliver a headquarters, a subsidiary of alphabet, their life science subsidiary. facebook and uber, we're building 1 million square feet for uber in mission bay, next to the warriors' new stadium. we did deliver pinterest a couple months ago. maria: and this is one of those companies, pinterest is going to probably go public.
>> they are. maria: in 2018. we just did a segment on all the ipos that are coming to market again, this is in your sweet spot. do things change when the company becomes public? could you expect more spending in terms of expansion on real estate? >> we hope so. i think the big area in the technology world today and they can't recruit enough people is data privacy. we know facebook, uber, pinterest, stripe, our tenants have large requirements for data privacy talent out there today which i think is fueling growth as well. maria: i love the idea that the company is doing a lot of biofar biopharma, health care industries. we had news that eli lilly is acquiring luxo oncology for $8 billion. we saw bri bristol-meyers squibb announce an acquisition. do things consolidate when you
see the deal flow. >> there's two sides to m&a. one is where the larger company goes after the pipeline, the product pipeline of the company, which i think is a celgene. i think you'll see consolidation and savings in the new jersey campus area which is unfortunate i think for new jersey. if you look at celgene bought juneau, a cancer therapy company a couple years ago. that's in seattle. we have their corporate headquarters. there the m&a was primarily for people, unique people, unique products and a technology platform so no consolidation there. maria: part of your -- a key component of your expertise comes from your venture arm. >> it does. maria: that is alexandria venture investments. your investment arm was just recognized as the number one most active investor in health care start-ups. congratulations to you. >> thank you very much.
maria: tell us where you're seeing opportunities from the venture arm. our views would see great value in seeing where you see growth. >> we started this when we were private in 1996 with the first investment we made in a cancer company up in seattle and we've continued it. we have about $750 million under management. and really the motivation is to have -- to accumulate leading edge knowledge, insights and day a take on trends -- data on trends in biotech and pharma. that's strategic reason we do it, also a good return. we were a series a investor, a dollar share in google and still own some of that stock today. maria: that's fantastic. >> we're an early investor in uber and pinterest too who are likely to become public. we have a team that is second to none. those insights provide us the ability to recruit and have great quality tenants as well as
strategic insights in where the science is going today. maria: that is so smart, joel. i know you spoke about this at your investor day back in december last year in terms of what this expertise gives you in terms of investing and how you actually identify these growth stories. where are you seeing growth specifically right now from that venture arm? can you identify whether it's industries -- you don't have to tell us exact companies you're vinesting in but industries you think are growth stories of tomorrow. >> i think the intersection -- this is in cambridge and san francisco. the intersection of engineering and biology, we invested in a company that we're providing space for in cambridge called relay therapeutics using biophysics, structural biology, computer design and regular biology to create the products of the future in a way that's much more efficient than the past. we also, it's kind of interesting, maria, we gave guidance -- not so much guidance
but a framework for a five year growth plan at our investor day a month and-a-half ago and we said to the street we believe on assets we own today, both buildings and land, we could double the republican l tall revenues of -- rental revenues by 2022 in five years,. maria: i heard a lot of positive things about the investor day in december. real quick, in terms of markets, does that play into anything that you're doing in terms of when you see the public markets as volatile as they have been, does that give you the pause signal to wait, to take to the sidelines or are you as active as ever? >> you have to be mindful of the macro markets. our pipeline for 2019 is already set, 90% leased. we will deliver all that. as we look out to the future, as we make commitments into 2021 and 22, you want to look at the macro markets and be cautious about those. but we're primed to go forward,
given strong demand and limited supply. and if a tenant moves out, we have 1% vacancy in cambridge. and rates have gone from, say, mid-70s to now mid-90s. if we have somebody moving out at a 60 or $70 rate, we're actually happy today, kind of doesn't sound normal or logical, but we can then replace that tenant with a much higher paying rent tenant because of the limited supply in that market, kind of amazing. maria: is it life sciences campuses that are the rage right now or something else? >> well, primarily life science. but one of our big projects we delivered last year, facebook actually came in and took about half of a building right in the heart of cambridge because they wanted that location, that state of the art building and they actually wanted to be away from other technology companies but closer to life science companies, so kind of interesting. maria: all the technology companies are getting he knee deep into health care. look at what google is doing.
as interest rates move higher, any expectation that the real estate boom slows down? >> it may. i think running a public company, we have very little, less than 5% variable rate debt. our rates are lower. we're not subject to that. the key indicator more than interest rates is really gdp growth. if gdp growth stays on a steady path, that really is the secret. maria: do you see any slowdown? >> at the moment, it may slow down from a 4 to a 3 or a 2 and-a-half, but i think u.s. will continue in 200 2019 to oue the rest of the world good to see you. >> thank you very much. happy new year. maria: quick break and then apple trolling technology giants, the company calling out amazon and google as the biggest technology conference of the year gets underway. china's cool architecture, frozen ca castles, we'll have
here again is maria bartiromo with a special edition of "mornings with maria," live from san francisco at the jp morgan health care conference. maria: welcome back. good monday morning. thanks for joining us this morning. i'm maria bartiromo. it is monday, january 7th. your top stories right now, 7:3. major markets are searching for direction this morning ahead of today's trade talks between the united states and china. we'll see what comes out of these talks which kick off this morning. futures are showing fractional moves. the dow jones industrial average is extending the big rally on friday, but the s&p 500 and nasdaq are both negative this morning. friday's rally was strong on the heels of those very strong, better than expected jobs numbers. at the close, the dow jones
industrial average picked up 747 points on friday, the s&p was up 3.5% and the nasdaq with a 275 point rally was up 4-poin 4.25%n friday. european indices are down across the board. cac in paris down 25 points and the dax index down a half a percent with a 55 point decline in germany. asian markets meanwhile higher overnight, best performer japan, up 2.5%. back in washington, the shutdown showdown continues. president trump is threatening to declare a national emergency over border wall funding. the president also says that he has the support of many of the furloughed workers. >> many of those people that won't be receiving a paycheck, many of those people agree 100% with what i'm doing. maria: the commander in chief added that he is now planning
for a steel wall instead of a concrete wall. hope for millions, one company says it may have the answer to those who suffer from peanut allergies. i'll be talking to the ceo later this hour, he's at the jp morgan health care conference. more cheese for the mouse, disneyland's cheapest daily tickets now topping the $100 mark for a ticket. details on the latest rash of price increases at disney world. plus, check out this video from the world's largest ice fest happening in china. more of the incredible visuals coming up. later today i sit down with an interview, a one on one with jp morgan chairman an ceo, jamie dimon. join us for that interview and get his take on the volatility in markets and where growth comes from for jpm and the country. we begin this half hour with privacy and technology. apple is trolling google and amp
son, literally, with a massive billboard. the billboard says what happens on your iphone stays on your iphone. the billboard is outside the consumer electronics show, the biggest tech conference of the year. i spoke with the former ceo of microsoft, steve bomber, as well as the co-founder of oracle, larry ellison, about the importance of this issue of privacy. >> when apple refused to unlock the phone terrorists who committed mass murder -- maria: san bernardino. >> san bernardino and said those people are entitled to privacy and apple will decide if the phone's going to be locked or unlocked, apple, not the courts, not our courts, but apple would make that decision, is just bizarre. it shows the political distortion that can exist in some of these companies. maria: you think we'll see more
regulation on tech? >> i don't think -- well, there's two kinds of regulation. on size, the kind you've talked about, maybe, maybe not. not sure how to think about that. on the issues of privacy and day a take protection, -- da data protection. i think we'll see more regulation. in the best of worlds it's not just slam down, the regulators will work with the tech companies to find the right solutions. maria: joining us now to more about that is judge andrew napolitano. judge, good morning to you. >> good morning. i'm smiling because of the comments about the san bernardino thing which you and i and our colleagues analyzed until we were blue in the face. the federal government -- maria: i know that dagen -- dagen agreed with larry ellison from the get-go. she was outraged that apple would not just open the phone. >> dagen is right next to me.
she wants me to not go after larry ellis son. dagen: i want you to be yourself. so go. >> here's the issue. the federal government has access to everything in the year, i'm holding up my iphone. they do so unconstitutionally and unlawfully and unabashedly. they're in a bad position to say to apple or google to say you've got to protect people's privacy, when they don't. when steve bomber says to you we want to work with the regulators, i accept that's what he means. the regulators have unclean hands. they work for a boss that does not believe in privacy. so i don't know where this is going to go. i thought the comment, what goes into your iphone stays into your iphone, was hilarious. it's not true. apple knows the entities that have access to its mainframe computers because it's required by a law, a profoundly unconstitutional law, to give the federal government, the nsa
and the fbi access to everything that's in there. so i don't know where this is going to go. our friends in europe are a lot more aggressive about protecting the privacy of individuals than the government is here. maybe with a democratic house and a republican senate and a president who himself has been profoundly victimized by a violation of his privacy will get to some consumer-friendly privacy-supporting legislation. i'm not going to hold my breath. maria: i think you make a good point about what stays in the iphone stay there's because it doesn't. given last year, all of these privacy breaches, people would be hard-pressed to believe that. you didn't have that kind of breach that you had at facebook at apple. so maybe that's what they're trolling about. >> that is the other issue of privacy. not does the government have access to this, but do we sell it or do we fail to safeguard
it. that's something that -- maria: we know companies are selling it. >> the tech giants can do that on their own. they can refuse to to sell it or they can say we won't sell it unless you affirmatively authorize to do so and we'll give you a percentage of what we earn from selling -- they're not going to do that. it's too complicated. it would be a miniscule amount of money. they can do a lot more to safeguard privacy from people other than the government than they have been doing. maria: let's talk about the shutdown, the partial government shutdown now entering its third week. this is obviously over border wall funding. yesterday i spoke with democrat representative ro comp kanna o said he wants border security. >> the president's campaign promise was that mexico was going to pay for it. he hasn't explained why mexico isn't paying for it. that's important for him to level. let's talk about funding for border security and the best way to do it. a lot of the experts will tell
you the president's idea of a wall isn't what's going to secure our border. it's not going to help against drug trafficking and sex trafficking and the problems he's identify. maria: judge, we already have a wall on a big portion of that border. so when nancy pelosi says that this next portion, the next 40% or whatever on the southern border is immoral, wait a minute, was the initial border that's already there and there's a wall there, is that not immoral? it just doesn't make any sense. the president said he's threatening he will declare a national emergency to build that wall. can he do that? >> in a word, no. that's not me saying no, because the supreme court said no when harry truman attempted to do that. there was a steel strike during the korean war. he asked the congress to authorize him to seize the steel mills and operate them against the strikers' wishes and produce
steel for our troops who desperately needed it in the korean war. the supreme court said no, you can't do that. congress can do it. congress can pay for the steel mills and operate them. but the president can't do it on his own. stated differently, the supreme court made it very clear, in times of emergency, the president of the united states of america cannot spend money unless it's been authorized by the congress. i think this is a bargaining technique. donald trump is the master bargainer. he's eye ball to eye ball with nancy pelosi and chuck schumer. he expects they will blink first. when push comes to shove, this declaring an emergency and spending money however i want is not going to happen. maria: maybe, but i mean, there must be other ways to get that wall up. i mean, aren't there ways that he can do it by moving money around or is that also not on the table? >> there's a clause in the constitution that requires that every expenditure by the
government be expressly approved by the congress. in some instances that's violated. for the intelligence community, they give the cia a budget. they don't say you can use this for bribing foreign officials and use this for shooting foreign officials. but with respect to domestic expenditures, the budget is very precise and the president has to comply with it. i think the president knows that we need comprehensive immigration and border security reform. and the time to do that is not when there's a gun to somebody's head because people are going to lose their homes because they can't pay their mortgages because the federal government won't pay their salaries. but in a patient atmosphere of a debate, a great national debate about how we want to treat those who want to come here. maria: judge, good to see you this morning. thanks so much. >> enjoy san francisco, my friend. maria: thank you so much.
loving it. and judge andrew napolitano. one of the happiest places on earth is getting more expensive. details on disneyland's price increases after this break. a record catch, one man paying millions for a tuna fish, the story next up. back in a minute. the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
will cost more than $100 each, this ahead of the opening of star wars, galaxy's edge this summer. in orlando, the least expense i've daily ticket there is also more than $100. shares of disney are pretty much flat over the past year. well, speaking of money, a japanese man paid a record $3.1 million for a giant tuna. right there. he's now expressing some regrets. the sushi restaurant owner says, quote, it is a good tuna but i think i did too much. he bought the 600-pound blue fin at the annual new year's auction in tokyo. the decrease in supply of blue fin tuna appears to have caused the spike in prices this year. there you go, over $3 million. take a look at this, a pretty icy spectacle in china, hundreds of thousands of people braved the cold to visit the annual harbin ice sculpture festival. it's beautiful. all lit up in rainbow colors,
even as temperatures at night often drop below zero. it's a major tourism boom for the province. coming up, peanut allergy risks, we'll have the latest on a life changing vaccine, when we return. ♪ dream of californication. .♪ dream of californication moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement.
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potentially side effects. there is a new medicine to help those with peanut allergies. joining me right now is dr. jason dallas. good to have you on the program this morning. thank you for joining us. we were talking during the break, you were fortunate enough to get the noi noin the fda -- e medicine to the fda before the shut glown wdown. >> we got it in the day before the shutdown. we're very excited about this. maria: there are vaccinations on the market, i guess. tell me how this immunotherapy works. yours is not a vaccination. >> it's not a vaccination. for food allergy there isn't anything available. the discussion you have with your physician is try to avoid the food and here's an open by . we're in 2019 and there isn't any solution for food allergies.
maria: you're right. >> this is an approach that's been around for a very long time. the concept of challenging the body with ever-increasing doses of the thing you're allergic to so that something that was foreign becomes friendly to the body if you like. maria: sort of like a flu shot. >> more like aniler jay shot. folks get -- like an allergy shot. this is food. food allergy comes from the gut. the gut's an important part of the immune system, and it creates the allergy in the first place. it's a similar idea. what you're doing is you're ingesting, swallowing a small dose of peanut and increase it over time until you get to the point where the body recognizes it as something you shouldn't reject. maria: peanut allergies can be for life. this could be life-time. >> correct. 80% of folks do not outgrow peanut allergies. it's the one food allergy that most folks don't outgrow.
most of the other food allergies, you tend to have it when you're a kid and outgrow it when you get older. maria: a portion of the people who have these allergies will find themselves in the emergency room. >> there's data that was published towards the end of last year, suggesting that 25% of folks who have peanuta peanut allergies who are actively trying to prevent getting any exposure whatsoever to peanuts,en u end up in the emery room every year. maria: what's the price of this? >> we're a ways away from launching. we would not be a great company if we developed something that would rewrite medical textbooks and didn't make it access to patients that need it. access is key for us. we'll make sure we can get it to patients who need it. maria: you were lucky to get the filing in before the government shutdown. when would you expect this to come to market? >> we got our filing in just before fda shutdown. they said stuff that went in before they shut down, they will
continue to review. that being said, it's unclear how that will impact the time line. under a normal circumstance, we would be bringing this to market about the third quarter, just after the summer of this year. maria: oh, wow, that's quick. >> that's pretty quick. it's exciteing to have a real solution in the market. maria: have you gotten a lot of response from people? >> there's a massive amount of excitement about this. this is a big problem. it's been around for a very long time. actually, having something that works out there is really exciting. maria: it really is. we'll be watching that. great to see you, dr. jason dallas. thank you so much. >> thank you so much. maria: best of luck with this. a lot of people i know have those peanut allergies. trait tensions in focus, u.s. and china representatives meeting today, they're trying to hammer out a trade deal, the the derighdetails right here, next , "mornings with maria." stay with us. stay with us. ♪ . oh, that's great sarah. let's talk about this when we meet next week.
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healthcare conference here is maria bartiromo with a special edition of "mornings with maria". ♪ maria: welcome back live from san francisco, as sun is rising thank you so much for joining us. i'm maria bartiromo, monday, january 7 your top stories right now 8:00 a.m. on the east coast. markets searching for direction this morning, futures not doing much, after powerful rally on friday dow jones industrial average extending that rally with a again on the session invite now about 46 points quarter of a percent higher s&p 500 up one point the nasdaq is lower, down about two points, all of this off the worst levels of the morning, so we are seeing a pretty good performance after a huge day on friday, on heels of a better-than-expected jobs' report, about the dow jones industrial average on friday was up 747 points, that was 3 and quarter% s&p 500 up 84 points, 3 1/2% nasdaq friday up 275 points good enough for a four and a quarter percent rally on friday on nasdaq at the close global markets this morning look like this
european index lower, as you can see, ft 100 down 31 cac quarante down 25 dax in germany down 47 all down one half of one percent in take a look at stocks that we are watching in asia nikkei average best performer in asian markets 2 1/2% hire on nikkei average pretty good session overnight another deal in the pharma business, this morning we got news, eli lilly is acquiring loxo oncology 8 billion dollars, right now can't get a read on that we will tell you about that, agency details here, on top of another big deal in pharma last week bristol-myers squibb acquiring celgene no deal to reopen government president trump and democratic leeds digging in on positions over funding of border security president trump ready to take superiors action he says. >> i may declare a national emergency dependent on what is going to happen over the next
few days but i think we're going to have some very serious talks, come monday, tuesday, wednesday, we have to have border security, if we don't have border security we are going to be crime-ridden it is going to get worse and worse. >> latest from white house coming up this morning, on that, and change at the top of cbs the president cbs david rose out the replaced by long time producer of the network making history we are going to tell you about that coming up, and this, breaking ground, tesla ceo elon musk says construction under way at automaker new plant in china, about plus christian bail golden globe last night also a dig at the man he portrayed to win that trophy, backlash after bale slammed vice president dick cheney in acceptance speech last night coming up monday morning joinings me to break it down our own dagen mcdowell lee carter in new york this morning as usual, good to see you ladies.
>> good to see you jay great to so a you maria bartiromo i don't want to get in the way of your next guest who saved your you viewers a whole lot of money with his call on apple. maria: yeah he really did he was on october 24, dan niles does some best work i have ever seen, in terms of research, and really researching before he puts his money to work, this is why he was so informed knowledgeable on a apple we thank him for that he made the call, negative on apple, october 24, stock down 30% since he made the call right here, so viewers definitely got one up on that joining us, momentarily but later in the day i will be sitting down for exclusive one-on-one with j.p. morgan chairman ceo jamie dimon join us tomorrow 6:00 a.m. eastern for that interview you don't want to miss it see what jamie dimon thinks about volatile markets about growth whether or not we are going to see a slowdown, the bank in terms of lending largely in u.s. he has the
capital markets business across the world we will get that from him as well. we've got a lot coming up this hour, we kick off right now with top story that is markets are you you flat this morning, futures indicating a gain startle of trading dow industrials s&p up 1 point dow 47 points the nasdaq is negative down 3 1/2, all of these is -- off the worst levels of the morning, stocks surged on friday on that strong jobs number, 312,000 jobs created for the month of december, that crushed expectations, federal reserve chairman jay powell said fed this is rush to raise interest rates and dagen you have the numbers as soon as they were out friday was there more surprise that it was so strong? or was there more sort of you know admitting look this is more the same that we've been seeing in the u.s. dagen: no, that was a that was a big number on friday. with 3 in front of it like a what? because again numbers are suspected to come in i think
the very top range of those estimates was just slightly soefr 200,000 jobs that was very, very high end of expectations friday the big thing, i said earlier in the program the really big thing that sent markets that much higher was the commentary from jay powell chief of the federal reserve, on friday, about it was 10:30 in the morning fed is about about flexible listening carefully to market concerns over trade world growth, and open to changing balance sheet policy if need be. that is really what set the markets on fire, this week we get the federal reserve minutes from the last meeting, then on thursday you have the vice chair speak being that day, and midday, again, jay powell giving a talk in front of economic club in d.c. going to be a really busy week i have said all along it is truly the federal reserve and being too aggressive about interest rates, the market has
woken up to what president trump has been concerned about, for months, which he has been tweeting about then all of a sudden last week the market went what? and agreeing with the president. maria: i mean look because we know that there is a whole host of tightening coming out of the fed not just raising interest rates, it is the unwind i of normal balance sheet what are we talking about 60 billion dollars selling 60 billion a month or 50 to 60 billion a mini. dagen: absolutely that is why i think -- at least reference to the balance sheet, that there al open to changing the balance sheet policy the balance sheet reduction, i think that that is why the markets reacted the way they did on friday, and one more thing people are going back in history looking at is this like 98, is this 1994? we can discuss that but it looks a lot like 98 in ways. >> we are going to talk about that right now we also have the other story of the day u.s. and china, beginning a new round of trade talks today in beijing, joining me right
now alpha one capital a purpose funding partner dan niles i hope you to be thered yint introduce said our viewers a whole lot of money thank you. >> thank you very much. >> you were with us on october 24, you were really skeptical of what was going on, at apple, so i have got to talk to you first about that. the big shock the company sending shock he waves throughout wall street a week ago, after cutting saeltz forecast last week citing weakened china sales came as no surprise to you. what is your take on what we heard from apple where the company is today. >> i think the big thing concerns me maria is apple recognized what the proficiency? their citing problems we are in trades zput dispute with china dollar is really strong upgrade rates are being pushed out as well people are buying new phones, less frequently, i think those aren't really the problems, and they shoe have known a lot ahead of time if
you look at things you say china has been weakening for a while apple sales to china up 21% march went top 19% in june, 16% growth year-over-year in september, and brazil had gone negative, and india flat in september quarter all issues they should have recognized i think the forecasting problem, the real issue in my mind is a following: if you look at this year trying to sell two phones, above 1,000 dollars, average asps up 28 he% year-over-year in september to 79 dollars. >> average selling price. >> average selling price, yes, so if you look at that you say wow that is a lot to be pushing into a market, when you've got china whose average gdp per person sitting at 10,000, in india 2000 that contrasts to u.s. over 60,000 how are you selling ever more
expenditure phones to those markets 2 to 300 dollar level apple weblt from second largest founder of phones in the world huawei passed them out of the china to become second largest now divo, also in china 9% or show apple 11 both could pass apple next year i am not sure apple roistsdz real issue that is they are trying to sell is a ferrari in a market that can aaforked a ford. >> sound merging markets problem apple selling into he merging markets too high exception merging markets slowing down 0,000 dollars 16,000 per capita in china how you said a back in october when we were together how would people afford a 1,000 dollar phone. >> what people are missing the other thing apple keeps going book to narrative don't focus
on unit of phones focus on services installed base looking into what they said oh look installed base grew 100 million devices over last year, actually go back do math on this, a year ago said we have 1.3 billion units of installed devices not customers but devices. you add 100 million to that gets you to 8% growth this year, what they also said a year ago is that 1.3 plan is up 30% over prior two years clearly installed base is slowing down, look what they said on services said we expect services revenue to double from 2016 to 2020 we have he 2018 numbers, so services revenue has grown, 25% compounded over the last two years, from the 25 and one half billion to 39.5 billion in 2019 you say 25 1/2 billion times two 51 billion wait a minute telling me services are going to grow 14% compounded over next two years, they grew
25% over the last two so that is slowing down as well. none of the wall street analysts want to talk about that because they all have buys on the stock not all but, you know. maria: a lot of them you are right. >> one person has a sell. >> look at this chart one-year chart, and really beginning in october things just fell out of bed that is when you were on this show talking about some of the weakness there, tell me about valuations i mean there is any reason to believe okay we've got a slowdown, but the stock is at a better price should i buy now. >> yeah, that is great question, here is the issueive the stock sort of in the middle of the valuation trading range would normally be okay but what you also have going on is the fact that the smartphone industry for the first time in if history is going to shrink in 2018. looks like going to shrink further in the 2019. so if you say valuations? middle of the range, but the industry that they are in is
shrinking if you look at pc industry in the 201 that is when replacement raids starts to length people went to buy pcs less frequently upgrade market shrank six years this about have first year since 2011, 2018 that it grew i think the smartphone industry is in for a multiyear segment of slowing down. >> interesting because when we were on the phone you were saying look at like how long you have your car you know you replacement car in car how many years seven years. >> actually u.s. today the average car on road over 10 years old. >> 10 years old so, i mean. >> pc six years. >> the phone. >> three years. >> you go. >> exactly -- by the way i know 5g is a big deal if 5g on the horizon i know that i want to get the latest greatest on my phone but iphone is not incompatible for 5g why apply an iphone. >> really good point when you
think about 2019, 5g is going to roll out carriers, in june quarter, well apple doesn't have a 5g phone out if you are trying to convince somebody spend 1,000 bucks they go does it have 5g. >> no, so they wait this year could actually be worse than last year, in terms of how much the smartphone market shrinks, apple not having 5g, is even bigger problem because carriers like sampson are going to going to roll out a foldable phone a million units not much another feature apple is not going to have if you are trying to sell highest priced phones out there it is hard to consequence consumers to do it i think apple focusing on wrong things one of the things i put out in a tweet recently had. for those viewers who are interested, daniel tniles, i try to put bot hat on
frequently. >> i've got followers also gained great value from your commentary talk to us about the broader market for a moment dan valuations have gotten better. >> yes. >> but volatility is there, on the other hand you've got valuations gets border fed saying we are not in a rush isn't this good time to apply stocks. >> i think dagen set this up well talked about the fact that nonfarm payrolls came in 312,000 big thing rightly points out fed jay powell said balance sheet not on automatic pilot any more said that december 19 markets absolutely freaked outz on friday he said look we are flexible listening to the markets et cetera people like oh you know maybe this is like 94 to 95, what i mean by that is 1994 the fed raised rates from 3% to 6%, and then they stopped. 94, market down 2%, 95 market went up 34%. >> you want to buy stocks
here. >> i like them. >> you like stocks right here dan great to have you on the program i know you are looking at other areas as well energy. >> emergency banks i joen j.p. morgan you are going to have jamie dimon on later i like china as well we own banks in china, energy stocks. >> great to see you, be right back. the same iot technology on the ibm cloud that helps race teams improve performance and safety. bye. girls, don't wave at strangers. can now be built into everything we drive. when you apply expertise across an industry, bye! you can put smart to work.
♪ ♪ i have... ♪ maria: president trump is tweeting about the media this morning what he just writes he said with all the success that our country is having including the just released jobs numbers off the charts the fake news and totally dishonest media concerning
me and my presidency has never been worse many crazed lunatics have given up on truth fake news will knowingly lie demean in order to make tremendous success of the trump administration and me look as bad as possible. nonexistent sources like stories total fiction our country doing so well yet this is a sad day in america, writes the president this
morning. t shutdown showdown week three president trump changing focus on border wall saying he is planning for a steel wall rather what an concrete one edward lawrence good morning to you. reporter: good morning, maria. no progress this week republicans democrats far apart the ending paperwork government shutdown the third longest in history, the president as you said, wanting a steel wall saying it will be less object truceive believes that is what democrats want asking for 5.7 billion dollars, to steal more expensive hoping democrats pass a bill to fund construction, but says he is also looking at alternatives. >> we're looking at a national emergency because we have a national emergency read papers we have a crisis at the border of drugs, of human beings being trafficked all over the world, coming through. and we have a -- an absolute crisis and criminals and gang members coming through. it is national security it is
a national emergency. reporter: designateing national emergency would allow military money to be used to construct the wall probably, democrats did you go in, following the line that house speaker nancy pelosi gave last friday that opened the government then we can talk about the shutdown. >> first of all we should have the functioning of government taking place, not hold that hostage to any president's personal cause look i represent silicon valley we can't have companies ipoing, hurting markets make things more volatile so let's fund government, and then separately, let's have the debate on immigration. reporter: pelosi intends to start funding bills passing bills in the house that would fund individual departments, first the treasury up the flats saying that they want to make sure that any irs refund checks come out, also, on the radar meeting in china that enhance today you talked about it earlier spokesman for the
ministry foreign ministry in china says u.s.-china remain on equal footing to resolve this trade issue that may be a signal china is ready to make a deal back to you maria. maria: all right edward thank you so much we will be watching that edward lawrence at the white house a short break with when we come back a shake-up at cbs continues david rose is out as cbs president his replacemented a first for the network of division christian bale facing black taking heat for his acceptance speech last night at golden globes awarded after he thanked satan. that is next. ♪ give a little bit, give a little bit of your love to me ♪ ♪ i knew about the tremors.
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lauren simonetti with details. lauren: former nissan chairman is set to speak about publicly in a japanese courtroom tomorrow for the first time since his arrest nearly two months ago, about the charges against ghosn include under reporting 44 million dollars in income, his attorney says his client will declare his no one else ghosn will appear in court handcuffed with rope around his waist which is customary practice in japan. david rhodes out at "cbs news" stepping down after network ratings fell last year following the resignation of charlie rose in 2017 over special harassment allegations, the executive producer 60 minutes resigned in september after confrontation with "cbs news" reporter over claims he acted inappropriately replaced by susan zirinsky 40-year veteran "cbs news" first woman to lead the news of division shares of cbs down 18%, from a year ago.
new york congress wam ocasio-cortez defending a laundry list of public misstatements says kwloits call legislature out for misstating facts are missing her point. >> i think that there is a lot of people more concerned about being precisely factually semanticly correct in an morally flight democratically socialist said there is no question that president donald trump is a racist. the white house denies that claim since a the president has repeatedly condemn racism bigotry in all forms. the big night for 76 golden globes, took home best actor in drama for lead role as the biopike, won best picture drama. now the awards show mostly was a political except for this moment christian bail who
slammed former vice president dick chaen cheney he portrayed in advice. >> i will be cornering the market or charisma free [bleep]. >> to a mitch mcconnell next? thank you. stay tuned for giving me inspiration on how to play this role. >> golden globe for best actor or comedy for role in vs but elizabeth cheney daughter of the former vice president fired back, tweeted satan probably inspired him to do this tee ye69d for assault on mother and sister with link to article from independent paper to be clear british authorities did decide to you dismiss charges against the alleged verbal attack on christian bale this is about a decade ago because of insufficient evidence. >> i have got to say i was really surprised that "a star is born" did not win. >> lot of people were, i know. >> let's get lee carter in here have you seen at the
movie lee tell us about what you think how it is resonating. >> o i did not see "a star is born," i did not see vice i did have a conversation with franklin about his appearance in vice noble it was accurate i think they took a lot of liberties there, and i think that as popular as remove movie is people should be reluctant to believe everything they saw the background is not there. >> they took liberties i didn't see vice either that makes sense. >> i definitely do want to see it but i know frank publicly talked about it if you look at they tried to talk about focus groups that came up with the estate tax death tax tried to do things simply were not true. >> no. >> really interesting, all right. we will take a short break, when we come back, pgande shares plunging this morning reports the company is filing for bankruptcy we've got the very latest there, to look down 19% right now there is breaking ground elon musk kicking off construction on
announcer: here again is maria bartiromo with a special edition of "mornings with maria" live from san francisco at the j.p. morgan healthcare conference. >> welcome back. good monday morning, everybody thanks so much for joining us i amma massive. it is monday, january 7th top stories right now 8:32 a.m. easement market higher this morning ahead of u.s.-china trade talks set to start day president is optimistic over talks. >> china talks are going very well. i spoke to president xi recently, i really believe they want to make a deal that tariffs have absolutely hurt
china very badly, but our country is taking in a lot of money through tariffs a lot of money a lot of tariffs. >> futures showing markets fractionally moving dow jones industrial average up 30 points extending a powerful rally from friday s&p is down a quarter of a percent the nasdaq lower by 5 points fractional movers this morning. in europe market lower across the board to look european indices here we've got ft 100 down 33 points half a percent cac quarante in paris down 28 points two-thirds of a percent, dax in germany also down 61 points two-thirds of one percent lower there as well. asian markets higher across the board on heels of a huge rally on wall street on friday, at any better-than-expected jobs numbers, japan was best performer nikkei average up 2 1/2%, others, as you can see, higher across the board. meanwhile, there is this pgande down nearly 20% this morning plummeting, as you can see, there, the utility facing a possible bankruptcy filing
over california wildfire the very latest there, then breaking ground how tesla shanghai factory will affect about the the company bottom line self-driving in fast lane diet on toyota autonomous vehicles when i sat down with vice president bob carter right here this morning, coming up i will be sitting down later on day in an exclusive one-on-one with j.p. morgan moring chairman ceo jamie dimon catch us tomorrow morning 6 eastern as jamie dimon talks about volatility in markets the growth story, in the united states, across the world president trump is tweeting on media again this morning, here is what the president just wrote few minutes ago he says, the fake news media in our country is the real opposition party truly the enemy of the people, we must bring honesty back to journalism and reporting. the president just tweeted that out a few minutes ago. top story this half an hour markets in focus, futures are
mixed this morning, as the u.s. and fortune head into new trade talks, today, about kicking off a new trade talk conference, the markets opening after major rally on friday with december jobs' report surging past expectations, and federal reserve chairman jay powell saying the fed this is no, no hurry to raise interest rates joining me alliance chief economic advisers mohamed el-erian good to see you thanks for joining us. >> thank you, maria thank you. >> first a word on global slowdown, that we are talk at aing about so much mohamed, i want your thoughts on the pivot the federal reserve has taken first on global economy we saw apple sending shock wavers cutting forecast weakened sales in china we have new u.s.-china trade talks under way dan nicely talked about emerging markets how very slow slowing down, what is your take on the global economic slowdown that so many people have spoken
about? >> so outside the u.s., the global economy is slowing. it is an issue particularly for europe and china. and the answer for why that is happening is very simple. unlike the u.s. they haven't implemented pro-growth policies so they are ring out of natural steam they need to implement some pro-growth policies. maria: okay. so the european markets certainly have he reflected that, what about the u.s. mohammed because there is all this worry about the u.s. meanwhile, we got those incredible jobs numbers on friday. we are not seeing much inflation, what is your take on the u.s. right now? >> so u.s. economy is in a very good place we saw in employment numbers not only did we continue to create a lot of snobs not only are wages going up we are trnging people back into the labor force, which is good for potential gdp. there's two headwinds one is self-inflicted wounds, fed
miscommunication being an example they are trying to fix that if other is spillback from what is happening in the rest of the world and from volatile markets so to go further forward on u.s. you need another round of policies that infrastructure is something that i think you can get both parties to focus on. . you need to deal with the self-inflicted wounds and you need u.s. leadership to get other countries also to focus pron growth. and if we get that, the u.s. economy can continual to grow at 2 1/2 to 3%. maria: what about this idea that the federal reserve is sitting on potentially huge mistake i mean they talked about raising interest rates, now therapisting saying well we're not in any rush to raise rates maybe two rate hikes next year as opposed to four we saw two hate ricks in '-- rate hikes, unwindying balance sheet unload 4 trillion
dollars of securities on balance sheet 60 billion dollars a month. >> yeah, i think the fed has understood notion president trump said getting a feel for the market, the fed has than youed the market doesn't like this notion the balance sheet reduction you just spoke about is on autopilot a huge burden on interest rate policy that amplifies the effect of any signaling on interest rate policy what the market was looking for us for the fed to realize that it can be an autopilot it has to be more sensitive to what is happening not just u.s. economy but what is happening globally, and that is what the market heard from chair powell that is what you why you got such a powerful rally on friday. maria: well i mean i remember talking with you over the years about coupling decoupling i think when said and done, there is no decoupling we are all coupled together across the world.
so when does this weakness outside of the united states start impacting the u.s.? >> that is the big question, you know last 12 minutes we've gone from scope of synchronized pickup in global growth we everybody doing better to divergence u.s. outpacing europe and china now worried about the wrong type of convergence we are worried about u.s. slowing to the rest of the world instead of the rest of the world picking up towards us there is nothing predecember tind about wrong convergence it is about policies here rest of the world avoiding mistakes the one thing i will tell you, as much as we focus on the fed maria, we should also focus on the ecb if we think the fed is in a challenging place, the ecb is there 10 times over. maria: um-hmm, i see, so are you expecting further stimulus from ecb mohamed? what are you expecting from
other central banks of the world. >> so i think the ecb is going to try to continue to fly under the radar screens, it will concern two things, one is that markets can no longer rely on ample predictable liquidity injections from congressional banks, two concern that central banks invertantly gone from repressing volatility to contributing to it that is the reality for markets, and investors should gust buckinves should buckle up voiment will continue. >> you i think volatility in the stock market in '18 continues in '19 then? >> i do it is going to continue until align menlt ab favorable alignment of three things, policy, economic fundamentals market techniques we saw how powerful that can be on friday. but what has happened so far, isn't enough we need more progress to make sure we can
get this alignment again. >> how do you feel about markets right now mohamed how would he about reviving in terms of buying or selling in the stock market? given all of these issues we are faced with? >> you know it depends from individual to individual. depending on risk preferences saving but i would say keep in mind three things one this is going to be a very volatile market so make sure you can control the misbehavior that happens when as a matter of facts suddmarkets fall or go up people get too negative or too positive one get ready for volatility, two is have a cashcution that will give you resiliency in volatile times good companies get thrown out you with bad companies so look for companies with strong balance sheets, strong cash generation strong management you are going to get bargains in weeks ahead. >> quick mohamed do you think that we do get a deal with china?
i do, i think china realized what korea mexico, canada and eu have realized which is if you get into a trade war with the u.s. you will lose. so it is much better to make concessions, than stay in a trade war, and risk something much worse. >> interesting stuff mohammed great to see you thanks so much. >> thank you, maria. >> mohamed el-erian from alliance president trump tweeting again this morning, just said this about the democrats he says congressman adam of new house armed services committee stated yes there is as provision of in law says a president can declare emergency, it has been done a number of times, no doubt, but let's get our own deal done in congress president referring to his remarks he would call a national emergency to get that wall built a short break. when we come back stuart varney back from vacation says he does not like what he sees so he will weigh in next stay with us on that new milestone for elon musk tesla breaking
morning. >> thanks good morning to you, legality me define this clearly here. now i have been away two weeks, i have been to australia and new zealand i deliberatively got away from it all didn't read a paper didn't watch news, spent mime on teach with kidsetsets had a very relaxing time i come back to america over weekend a little jet lagged came back same old, same old, the contempt hatred for our president i was just astonished by it, to leave with her obscene comment about president trump when she is discussing impeachment, nancy pelosi would not condemn what she had to say, presidential candidate wants a 90% tax rated on rich ao.c. wants 70% economic nonsense, this outpouring of dislike that is a mild expression dislike for
our president standing in stark contrast to what i have been used to last couple weeks -- great to be back astonishing to see this level of contempt and hatred for our president i don't like it. maria: i am with you stu, just incredible you know when you look at the progress the economic policies. >> exactly yes. maria: 4.2 economic economic growth second quarter 3 1/2% third quarter probably seeing 3% fourth quarter powerful incredible jobs numbers friday, they don't like his experiential so for that they want to impeach him. >> i think they are overreached, i really do. >> yeah. >> see you later. >> see you 10 minutes i know you will have a lot more "varney & company" begins every day 9:00 a.m. eastern right after "mornings with maria" join stuart he have as a low the to say first shares of pg&e deep in the red utility facing a possible bankruptcy over congressional wildfires stock down 20% we'll be right back with that, then taking you live to 2019 is he
consumer electronics show toyota unveiling new autonomous electric vehicles automakers big at thes consumer he electronics show this year back in a minute. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
maria: chemical weapon back technology world is focused on las vegas 2019 consumer electronics show this week toyota looking to make a splash unveiling new autonomous electric vehicles, joining me executive vice president of editor north america bob carter thanks for being here. >> good morning thank you. maria: a car company toyota at the consumer electronics show tells you how connected the auto sector has become
with technology, your unveiling p4 automated driving test vehicle tell us about it. >> we are. this is i believe our fourth or fifth year introducing newest technology particularly in autonomous driving area here at consumer electronics the vehicle is a concept we call p4, fourth platform, introducing what we call our guardian technology. what guardian is, is considers a copilot sitting in passenger seat for you going to demonstrate to the media today where we actually experience an accident on interstate 80 the technology is off shoot of our development for fully autonomous monitors all conditions around the car all the time example this one unfortunate accident nobody was hurt in, one car drifted
over its lane into another car and pushed it into the guardrails a very typically situation, or guardian technology senses that, and momentarily takes controls from the driver, both acceleration breaking and can navigate the car out of the area of the accident immediately hand back the controls to the driver. so the end result is the driver is still in control of the car he is joined in driving but yet in unperceived circumstance technology can take over to avoid the accident. >> that is really about incredible so research institute at toyota is doing important work, in artificial intelligence feels along with other technologically advances is this where this come froms your a.i. business? >> that is -- was developed by
toyota research institute that we have in the silicon valley working on a number of different technologies for the future we believe going to enhance the safety of society in the future. maria it is unfortunately but something that does happen in north america last year there were 40,000 fatalities on our roads, and if we are able to introduce technology that theoretically can reduce that by 10 fold or perhaps even a hundred fold we can make consumers society safer in fact we are so convinced that this technology is the correct path for the future that we are opening up to other auto manufactures we would love to see every vehicle on the road today have this sort of technology available for consumers. >> is it resonating bob when you look at electric vehicles
still have not resonated with public even with oil prices when oil prices went all the way up. they still didn't stop buying big cars to great extent. >> well you are exactly right maria. last year, there were 17.2 million vehicles sold approximately one percent of those were full battery electric vehicles. we are very we have a very robust system that we use with hybrids a combination of our gasoline engines as well as our electricification the reason since 1997 we think going to take some time for the market to advance but next dade he elect being triification we believe will become mainstream in north american market great combination bob good to see you thanks so much from toyota. we will be right back.
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>> great show everybody great to be back dagen lee great to see you. great to see you keapght wait to see the show tomorrow on your great interview. >> have a great day we'll be back tomorrow right here same place with jamie diamonds review have a great day everybody. "varney & company" begin right now. stuart take it away. stuart: thanks so much maria. good morning everyone. great to be back. just as we start the first full week of the year. seems like the economic picture has changed a little. there's certainly been a shift at federal reserve rapid rate hikes not so likely right now do they? surging manufacturing wage growth picking up and, yes gas prices keep falling so look at this stocks going up but the open this monday. up 700 friday for the dow, up some more this morning. now during the show today, you'll be hearing from market watchers who now see solid gains for the stock market this year . then there's politics.