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tv   Mornings With Maria Bartiromo  FOX Business  February 26, 2019 6:00am-9:00am EST

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later this hour, mornings with maria begins right now. ♪ ♪ maria: also earnings out, home depot and macy's, looking at futures, edging lower, dow industrials down 65, and home depot expected to report earnings of 2.16 revenue of $26.75 billion, we will get those numbers and bring them to you as soon as they hit the tape. first, let's talk investing with chief investment officer steven, good to see you.
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thanks so much for joining us. very good beginning of the year, what's your take on where we head now and what's the main catalyst that you're looking for direction in stock. >> we have been 3500 since december since it seemed completely nuts. we are still there. we had a big run. surprises into the narrative and halfway on most of them and two important ones, maria, one is the global recovery. we have been in narrative of global slowdown. eventually by the summer, the narrative is global recovery and second the narrative on china. once you get the deal done and these countries working together well the narrative will switch to something much more positive.
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maria: let's work through them both because these are important issues that you raise, first up, global slowdown turn to go global stimulus, do you think federal reserve will cut rates? >> they stopped hiking here, they're talking about slowing down, the chinese are clearly beginning, a lot more leverage they will pull and we already have interest rates around the world. we are just starting now into a period of central banks reacting to this very weak economy. maria: wow, that's big news, you're right the fact that they laid off the interest rate hike. we are getting home depot, it's a miss, $26.4 billion, below estimate earnings as well, 209 a
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share versus estimate of 216, stock is already reacting, down 2 and two third percent. do you think it's a reflection of the u.s. economy? >> yeah. stocks are reacting positively to bad news generally. there's a sign that there's been way too much -- doesn't surprise me with home depot. maria: we are in soft patch but taking foot off in terms of rate hike, do you expect that situation in balance sheet in terms of unwinding the balance sheet? >> we will see what he says today. he's hinting that maybe we should be thinking about how big
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normal balance sheet should be. maria: right. >> you're getting little stuff about, you know, inflation, inflation rate. maria: right. >> that is also viewed -- that would really be pretty good for market. maria: what do you expect today, jay powell testifying in committee, tomorrow testify before the house, what are you expecting there in terms of hearing on all of the above? >> i believe that he will repeat the messaging he gave in those two panels he was on in early january. he's not going to make mistake in hiking rates forever. the market is still positive, see how this thing gets unwind
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and he will have a better idea which is right the market or, you know, their own model. maria: former chairman yellen criticizing president trump in radio interview yesterday. listen to this. >> do you think the president has a grasp of macro economic policy? >> no, i do not. >> tell me more. [inaudible] maria: what about that? should the president know the specifics? >> not necessarily. i think some of the things that makes me optimistic about the market is that half of the market doesn't believe in this president and they allowed views to factor into the market.
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maria: good point. >> all the companies we talk to, the discussion of china on one-on-one basis has completely changed. maria: when he called the fed loco and crazy, everybody was like, this is nuts, actually he was right. [laughter] >> they should not have been hiking. maria: they made a pivot. are you putting money to work in the market? >> we are continuing, buy into it, we are in pause mode here. maria: we will leave it there. steven good to see you. meanwhile there's this tesla ceo elon musk targeted by securities and exchange commission. dagen, good morning to you,
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what's your take here. dagen: if you keep poking the bull you will get the horns. the securities and exchange commission has asked federal judge on monday to hold ceo elon musk in contemptive court over tweets, sec is saying this violated, the tweets did violated condition of musk's settlement with regulator last year, accused of tweeting misleading information about taking tesla project, he had to settle with sec over that. here is what elon musk said most recently on february, first tweet was, tesla made zero cars in 2011 but will make around 500,000 in 2019. well, that suggested -- that
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suggestion of 500,000 vehicles which are sitting contract to guidance at the company given in late january, so elon musk amended that tweet and said this later on, meant to say annualize production, estimated 400,000. tesla is defending itself, elon musk thought that the substance had been vetted, preapproved and next steps, however, a judge will decide in a court hearing, consider whether elon musk tweet violated the terms of his earlier settlement. highly, highly unlikely almost impossible that he would be bard from acting as officer of a public company but he keeps poking the sec, short seller
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enrichment commission even in extended interview in december kept going after the regulator, he might want to shut up, look at the premarket trading of the stock, i don't think it's doing that well, up 1.4% yesterday, it's almost down almost 3%, and lost 10% this year, you might want to put to other enjoyable things other than going on twitter. maria: what's going on? he likes poking the sec. dagen: he likes poking the sec, he's a dude you can't tell what to do, like all men. maria: thousands of content moderators paint a very dark picture. these are the content moderators, cheryl casone with the story now and headlines, hey, cheryl. cheryl: think about what the people see, this investigation has unveiled dark side of being a facebook content moderator, they are often suggested to poor working conditions and they are
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exposed daily to some of the most repulsive, self-harm, drugs on the job, most moderators interviewed quit after one year at facebook. well, president trump, he's gearing up for second summit with kim jong un that starts tomorrow. north korean leader arrives to red carpet welcome in vietnam ahead of the denuclearization talks. president trump to do trade deal. open talks with private dinner tomorrow. they did this last time when they met in singapore. finally pressure continues to build on british prime minister theresa may, she's facing revolt from members of her own
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government who say they will le sign unless she takes no-deal brexit deal off the table, of course, maria, as we have been reporting that could be delayed, european markets under pressure this morning. maria: all right, cheryl, thanks to you. new report that is colin kaepernick would have played football if not for price tag, we will tell you about it. green new deal, alexandria ocasio-cortez's plan could put the u.s. in red for trillions more. what she also said about having children, that's next.
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maria: welcome back, big show this morning, finance committee member senator lankford is here. retired four-star general jack keane. author of collapse of china gordon chang joining us with those important talks in hanoi, pfl kayla harrison here as well. don't miss a moment, big three hours coming up. soaring price tag of the green new deal, new analysis this morning from the american action form, douglas, he says it could cost $93 trillion over the next 10 years, the most expensive provision, jobs guaranty and universal health care, joining the conversation this morning, wall street journal editorial page editor, james freeman, former economic adviser to president obama, fox news contributor robert wolf is here as well. good to see you, gentlemen. dagen and i we seem to talk
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about the green deal every day. how do you explain that, you've had some of the people in the democratic party that want to become president endorsing the plan? >> yeah, i think a few things, one, this is not going to pass, nancy pelosi, who, you know, probably not everyone on the show loves nancy pelosi, she calls it the green dream. i think this was aspirational idea that people want to talk about climate change, you see wild fairs, you see sandy, everything that's going on in the last decade, the type of storms, people talk climate change. i actually think that aoc has a very aspirational bull passionate form that seems to be picked up by every station in the country. i don't think all candidates will back it up. klobuchar hasn't backed it up.
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maria: it's $93 trillion, dagen has been saying that people have been saying, broad strokes, these are just values, at the end to have day, she's a program that she's endorsing, a socialist program and doesn't make any sense, you could say broad strokes, you can could say aspiration, at the end of the day -- >> i was just saying it's not going to pass. i mean, a lot of public policy discussions we had, just like no disrespect, méxico is not paying for the wall. dagen: we will make you own every damn dollar. [laughter] >> my point is there's a lot of populist and nationalist ideas that come to the forefront by every candidate that gets them out in front, i don't think that this is going to be what all the democrats take on.
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certainly the far left seems to have taken on but if joe biden enters, he will not support this, sharod brown will not be supporting this, bloomberg will not be supporting this. >> candidates that have supported this, have tried to walked it back or suffer the consequences, this cannot work if your strategy is to win back blue-collar voters. >> i agree, i think mcconnell forcing this vote was pretty genius. i think it's incredible -- >> yeah. >> i don't think people necessarily thought they were going to have to vote on this. maria: aoc likes to come out with outrageous things that make no sense. i mean, yesterday, she raised the question of whether or not people should have children because of climate change, watch this.
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>> there's scientific consensus that the lives of children are going to be very difficult and it does lead, i think, young people to have a legitimate question, you know, should -- is it okay to still have children. maria: dagen, what is she talking about? [laughter] dagen: i love how i am -- >> i would not be laughing. dagen: raising the issue, two things if the world will be so god awful why would you want to bring children into it number one, growing population is a burden on the planet, she's kind of talking about two different things at the same time. i think that that is a perfectly reasonable conversation to have as an individual, but the problem is that she's a lawmaker now and i think that this will get back to the question of who do you want to make decisions about this, do you want to be in charge of your own life and do
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you believe in free will, do you believe in the private market or do you believe in the government telling you whether if you could have children or not, sounds like communist china how many kids you can have. or number 2, for example, with health care, you know, turned medicare for all they will tell you how much your doctor can charge and what doctor you can go to and whether you will get a heart transplant or not. >> this will not play well in industrial america. maria: no, by the way, as we lead up to 2020 we are watching with one eye on the economy, if we were to see things fall out of bed or to see a recession that makes it that much tougher for the president and perhaps an opening for somebody on the path. home depot reported earnings and it's a miss on earnings and the revenue side, 2%, 209 a share
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versus 2.16, estimate 26.5, again, miss on both the earnings and the revenue, how important is this, james, in the scheme of things in terms of economic backdrop as we have the federal reserve making the pivot and jay powell speaking today and tomorrow. >> we are kind of wondering how -- we have seen conflicting reports, earnings still pretty good but people are expecting a big slowdown in first quarter here. we've had some not so good manufacturing news lately, better news from the service's economy. in terms of politics, the big danger for the democrats is -- is going too far left for trump. he has to have a strong economy. maria: and a way to keep growth spur going, we will be right back. i knew about the tremors.
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maria: welcome back, home depot earnings out this morning, double miss. 2.09 share, versus 2.16 a share, 26.57 billion, stock is down two and two-thirds percent. dagen, i think we understood that the housing market was one of the areas under pressure in this economy, that's really been the weak spot. dagen: that's why i think as trading day moves on, you might not see dramatic reaction in the stocks. i think that if you really have been watching how housing sales have been going, even beginning like almost a year ago, that this would not come a big surprise if you will see weakness, it will show in home depot. >> the nervousnesses out there is housing and auto and if you go back to 2007-8 that was nervousnesses. what's different today is the economy is doing better. and then it would be very interesting which is what
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becomes the real, i was surprised yesterday that one of the fed board members said they think there's going to be a hike in 2019. maria: one hike in 2019. >> that was surprise that we were talking about it. here they are. now they are talking about the next hike. maria: expectations that things will look better in 2019 even though the rest of the world and the u.s. is bright spot, i like the op-ed in the journal today. the obama-trump economic boom particularly because it's written by alan, james, because he is a -- he's a liberal economist. >> yeah, maybe the economists on the left starting to normalize president trump. >> really because i was -- maria: it must be said economic
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policies have been the shining stars in abysmal policy. >> absolutely. >> if you're thinking about how could the story go right this year, how could we end up with rate increase with strong economy, yeah, the president is certainly getting optimistic signals about the china-trade negotiation. if that gets resolved -- we take tariffs away -- >> we just all came over this debate in december on why did they do this 9 rates in a row when we didn't think they should. maria: they made a mistake. >> it's too early to say what they are doing forward-looking. maria: 1.36 a share, 1.36, the numbers were weaker than expected on earnings and revenue
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side but the company is raising the dividend and obviously giving us outlook, so we want to hear more about that. authorizing 15 billion-dollar share buyback program as well as home depot. meanwhile you look at amazon, some problems to report, technology giant now facing backlash in virginia after pulling its plan for a second headquarters in new york city, lauren simonetti with more on this. lauren: outrage has moved south to arlington, virginia, the shared location of second headquarters for amazon, there's a coalition and basically pushing for transparency. they said, you know, amazon didn't reach out to the low-income community there, high increase in home prices, they reject the notion of trickle-down economics that if you bring 25,000 jobs that pay average of $150,000 each, that that might help the dry cleaners
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and restaurants and anybody else but not that community who has been there for a long time, to give you of the idea of incentives that arlington was offering amazon, $573 million, plus 223 million to upgrade the transportation system, this is 15 minutes from washington, d.c. and the promise that they actually would get the money if you do bring those jobs, the 25,000, there was something else that was very interesting about this outrage we are getting from the coalition, they don't like to technology, facial recognition technology that amazon is working with the government, a lot of immigrants there, amazon is working with customs and border patrol and ice and they have the facial recognition technology that's worrisome to a lot of the immigrants that live in arlington, that's the other side of the argument that really caught my attention.
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dagen: talk to local politicians, they are the ones that got the deal, if you're mad about being priced out of the real estate market, get mad at the federal government because they are the ones funding the community and that's why real estate prices have gone through the roof. maria: i thought it was a really good approach that peggy took in terms of what the impact of the amazon headquarters in new york would be and she basically, you know, painted a picture of new stores, busy streets, lit streets and that's what i was envisioning when i was thinking amazon would go there. yeah, you have the 25,000 jobs and, yeah, you have those benefits but doesn't it has bigger benefits just adding the headquarters there in terms of the neighborhood. i thought she did a great job. dagen: you tweeted it. it was really well done. >> sorry, i think there's this
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blowback and appears to be backlash against job creation. if you look at new york and virginia also, people are starting to be skeptical of the incentive programs from governments that are not available to all companies but just a few. could be healthy change in our policy. maria: one to say something, lauren? lauren: no, have to go. maria: thank you very much, lauren simonetti. battle of the border wall, nancy pelosi is vow to go stop the president's natural emergency and they are putting a measure up today for a vote in the house and then microsoft ceo standoff, the technology chief is sending the company's participation in military contract, we will see what happens here. back in a minute ♪
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maria: welcome back good tuesday morning, thank you so much for joining us, i'm maria bartiromo, tuesday february 26th, top stories right now 6:35 a.m. on the east coast. we are watching home depot this morning, stock is down after missing earnings and revenue expectations, down almost 3% right now on home depot. we are also waiting on macy's, the company reports earnings
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later this morning and right now macy's shares are up in premarket almost 3%. investors are also waiting on federal reserve, he will speak with senate today and house tomorrow. could be market-mover, futures are lower ahead of all of that, dow industrials down 122 points, 1 half of 1%. s&p down 9 and nasdaq down 30 points also almost 1 half of 1%, there's optimism, however, over china trade, dow industrials finished up 60 points, s&p was up 3 and the nasdaq is up 27 points yesterday, third of a percent. european indices today are lower, ftse 100 down, one and a quarter percent. cac quarante down half percent, 21 points and dax down 39, one-third of 1%, asian markets were lower as well overnight as you can see pretty much fractional moves, shanghai composite and hang seng down,
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worst performers, microsoft ceo is speaking out on the technology giant's military deal it's been criticized by some employees, we will tell you what he has to say about that. track on a train, nearly 200 passengers have been on amtrak train since sunday due to snow and down trees, stuck on the train since sunday, we have the latest on the rescue efforts this morning. colin kaepernick reportedly wanted too much money to play in the ffl, later this hour. first top story, border wall funding battle. it will come to headed to, house speaker nancy pelosi says her party plans to vote today on a resolution to overturn the president's national emergency declaration, watch. >> this is not about politics, it's not about partisanship, it's about patriotism we would be delinquent to our duties if
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we did not fight back and to overturn the president's declaration. maria ma this coming at the pentagon will reportedly move around funds to allocate $2.5 billion for border security. joining me right now retired four-star general general jack keane, general, pleasure to see you this morning, thank you so much for being here. if they were to stop this national emergency declaration, trying to put the measure up today, vote on it, probably pass in the house, goes to senate, could pass the senate, the president will veto it, i know that, but will -- will that jeopardize the pentagon moving around money to get 2 and a half billion for the president to use for border wall? >> i think the president would veto it certainly and also the thing will get tied up in the courts to some degree. the pentagon actually has money in its budget to deal with barriers, not necessarily walls at the border, i don't think
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it's too much of a stretch to take the money that they have and do that with it. also we have been putting obviously soldiers down on the border to assist in surveillance, helicopters, moving people around and putting barriers, that all cost some money. i mean, this issue is just amazing to me. the president has got a right as the commander in chief to protect this country's sovereignty and that's what this is. let's face it, we don't have 11 million people, the people have been talking in the last 10 years that came into the country illegally, we have close to 35 to 20 million people, this year crossings will be up. all the president is asking for u20 plus more miles of fencing, we have 700, at the end of the day, the border patrol is asking for a border that's almost 2,000 miles, they are only asking for close to a thousand miles of fencing.
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they are recognizing that the other areas, they will depend on technology and border patrol personnel and that small increment of 200 plus miles of border, when both houses democrats and republicans have approved the 700 miles. maria: it's disingenuous to say that a wall is immoral when in fact, you have a wall in your own state as nancy pelosi does in california which separates tijuana from san diego, to say any wall, i guess they are doing this to show resistance, because we know that the president will veto it and we don't know -- why would the republicans in the senate vote for this? >> why would they vote for it? maria: yeah, why would they agree with the democrats? >> i don't know. i mean, i can't speak for them. i just know that in any mind it is a national security issue, it is protecting a sovereignty of the country and i do believe the president is acting within his
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rights. that's arguable, certainly and they are going to the courts and they'll adjudicate it. maria: senator lindsey graham said on sunday, president trump as well as president obama sent troons to the border, they were making a human, you know, barrier there and this is just making more of the barrier that's already in place, so we will see what happens and whether or not it does, knack pas the house and senate today. the president, of course, getting ready for denuclearization talks with north korea this week, watching state tv general publish list of u.s. targets that north korea would strike during nuclear war, i mean, this is pretty -- russia would strike, the list is extraordinary, the list includes the pentagon, this is russian-state tv revealing potential u.s. nuclear targets, what's your reaction to this? >> well, first of all, every major city in the united states is targeted by russian nuclear capability and to include
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military targets, so what this is russian bluster, tactics that they always use to threaten school lags to back an opponent down. what this is over median-range ballistic missiles and the reality is russia has been building cruise missiles, land-base cruise missiles in violation of treaty for years and that's the reason why we pulled out of the treaty because partner the treaty in the treaty is not compliant, we asked them to come in compliance and they refused. those missiles are obviously pointing at europe because that's the range that's permissible. reagan was threatened by the soviet union over medium-range missiles. the soviet union deployed those missiles, what reagan did, talked them out of doing it,
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after he deployed them, that negotiated what is now the legendary inf treaty that the russians are violating, the only way to deal with russia on this issue is to stand up for them. maria: yeah, pretty extraordinary that russia continues to get involved in the european negotiations in terms of our friends in europe, in the middle east as well, real quick general, before you go, any thoughts on the upcoming summit with kim jong un and the president? >> well, we haven't changed the objective which is denuclearization, denuclearization but we have changed the goal. we no longer are trying to do this in 2 years, we recognize this is a step by step process. we have a very long way to go here. something good will come out of this. probably won't satisfy most people but the reality is we are in a long process and it's going to take some patience and i think we will definitely make some tangible progress on this.
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maria: general, good to see you this morning, thank you so much jack keane joining us there, microsoft ceo defending controversial contract, cheryl with details. cheryl: will not cancel contract with the army, despite protests of more than 50 employees, nearly 480 million-dollar deal, microsoft will give the army augmented reality technology to help soldiers spot and kill enemies during combat. microsoft will not withhold technology from democratic institutions to protect the freedoms we enjoy. also microsoft employees sent letter saying they did not sign up to develop weapons and demand they have a say and how their work is being used. well, extreme weather in the west, amtrak train stranded in oregon since sunday after it hit fallen tree, the train from seattle to la, 200 people on board, amtrak says no one was injured but working for safe
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path, maria, a lot of weather happening across the country right now. maria: all right, cheryl, thank you, the governor of wisconsin pulling national guard troops off the southern border, that's next.
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maria: wisconsin's governor has ordered national guard troops to lead the southern border, made the decision yesterday he says there's not enough evidence to support president trump's
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national emergency declaration and no justification for wisconsin's 112 troops to stay there. the indianapolis star reporting that rolls-royce indianapolis is set to compete 1 billion-dollar u.s. air force and jobs, year-long campaign, build hundreds of engines for u.s. bombers. and the dallas morning news, a senate committee okay's bill to give texas teachers $5,000 raise, approved the bill yesterday estimated 350,000 teachers would be eligible for the raise at cost of $1.8 billion a year starting in 2020. >> my son is a teacher. i would like to him get a 5,000-dollar raise. it's expensive being a teacher in new york.
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maria: welcome back, patriots owner robert kraft formally charged for solicitation, jared max on sports. jared: good morning, maria, florida prosecutors charged kraft with two counts of first-degree solicitation, he does not need to personally attend, we recently reported that colin kaepernick demanded salary of $20 million, well, now the sporting news says the same demand, planned to launch in
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2020. dallas mavericks rick carlisle, one of the things i've ever seen, dock rivers call time-out to salute dirk nowitzki likely retiring in unprecedented style. >> 9 seconds left in the game and the play has stopped. [cheers and applause] >> dirk nowitzki? jared: greatest of all time dirk nowitzki, i didn't understand much but that was humble, emotional moment. monday we saw reform when interrupted by reporter's cell phone, who was calling? >> mom is calling. >> is that your phone?
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>> he's busy right now. jared: generally thought he would have maybe chewed somebody out, that was great. maria: that's really cute. talk about trade. >> he had the time with the new york post. >> stop coaching, pat. >> good for the team on the ice, we will see. >> on kaepernick, do we know what the nfl end up paying him, rumors out there? >> there's been rumors, 60 million, i read also 80. we should be careful about looking at the number because you get wrapped up -- maria: why did he turn it down? >> this is the settlement for the collusion case because the general managers and owners
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colluded. maria: i thought you were asking about the salary or contracts that had come his way. >> the league can't afford it. maria: they have offered him and he has turned down. >> an offer that they can't refuse. dagen: you know that a settlement is no admission of guilt having worked in security's industry. >> absolutely. i wish someone would pay me 60 million. maria: good point, dagen. jared, good to see you, jared max, fox news headline 24/7, siriusxm 115, stay tune, next hour we will be talk about professional fighters league ceo peter murray and professional fighter kayla harrison.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, february 26th. your top stories right now. home depot is under pressure this morning, the stock is down 2.5% after the fourth quarter results missed expectations. the company is raising its dividend and authorizing a new share buyback program. same store sales were also a miss, up 3.7% versus an estimate of 4-point -- 4.5%. we're taking a look at the health of the consumer this morning. we're awaiting macy's next hour. caterpillar shares are down this morning. ubs is cutting the stock to a sell from a buy, down 3.5% on
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cat. that stock is really economically sensitive and we will see what this says about china or about the broad economy this morning. the declines in home depot and caterpillar weighing on the dow jones industrial average. we're expecting a deline of 100 points out of the gate this morning. s&p is down 6 and the nasdaq futures down 21 points. this after gains across the board yesterday. take a look. dow industrials were up 60 points yesterday on optimism over a deal with china. the s&p 500 was up 3.5 points and the nasdaq was up 27 points. global markets are mixed, mostly lower. european indices down across the board. cac in paris down 15, quarter of a percent. as is the dax index, down a quarter of a percent, 33 points lower in germany. in asia overnight, declines across the board. worst performer in asia, shanghai composite in china and the hang seng in hong kong also down two-thirds of a percent. countdown to the second north
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korean summit, president trump set to arrive in hanoi later this morning. he sounded optimistic about the meeting before leaving the white house. >> we're speaking and i think we can have a very good summit. i think we'll have a very tremendous summit. maria: what to expect from that summit, we take a closer look at china's role in the negotiations. healthcare in america, some of the big names in the pharmaceutical industry are headed to capitol hill this morning. they will face questions on drug pricing from congress. then amazon alexa moving into the healthcare industry as well, how the technology giant is looking to improve your hospital stay. so long, selena gomez, no longer the most followed woman on intakinstagram. wait until you see who takes the top spot. joining me to break it down, dagen mcdowell, james freeman, fox business contributor robert wolf. great to see you this morning. >> great first hour. maria: thanks for being here.
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>> it flew. maria: it did. the show flies by. >> there's a lot going on. maria: we've got the federal reserve on tap, jay powell testifying to the senate today, the house tomorrow and you've got the north korean summit as well. dagen: and then what to make of the home depot earnings, i think. take a look at those, stock in premarket trading. i think it was up about 10% year-to-date before this earnings announcement, which would be under-performing the blue chips ever so slightly, down 2% right now. one of the problems is, it missed on same store sales increases, same store sales at u.s. stores up 3.7% in the fourth quarter and that was short of analyst expectations of 4.5%. but 3.7% in same store sales growth, that's pretty good. maria: i saw that number and i thought wait a second, what was the estimate, 3.7%, that's not bad. dagen: with continue crease in the quarterly dividend, it's a 32% increase in the quarterly
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dividend, a share buyback announcement of $15 billion, you might see the stock get a little bit more ballast. maria: you think this is an overreaction? dagen: a little bit of one. you mentioned auto loans, given the increases in interest rates by the federal reserve, leading -- moving throughout last year. >> i think that's a really good point about same store sales. we were kind of wondering, is this a proxy for retail. we got that horrible december report from the government and then the walmart results, maybe retail isn't that bad and this would be another one saying although they missed expectations, pretty healthy consumer from what we h see. >> i'm not talking with respect to home depot, but when you looked at walmart, costco, so much was online sales. so same store sales are not the same. >> they're consumers too. >> it's not how we used to look at it. you have a separate that's called online.
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it doesn't hit the same store sales apparatus. i think macy's is going to be fascinating today. there seems to be a good drive to consumer confidence but retail has been up and down depending who the retailer is. maria: most people we spoke with after the fourth quarter said that this was a very strong fourth quarter at the end of the year, despite the market craziness in november and december, despite the numbers in the retail sales, when you speak with people that were on the ground whether running malls, running shops, they said they had a very strong fourth quarter. >> we got caught up in the shutdown. the shutdown aside, we were on a pretty good trajectory. maria: absolutely. the top story this hour is the china technology threat. rick perry and kirstin nielsen are sounding the alarm on huawei. huawei made solar equipment and nearly all the technology it see as a potential security risk. it comes as one huawei executive pokes fun at u.s. intelligence,
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refuting claims that huawei poses a national security threat. this executive from huawei says this, prizm, prizm, on the wall, who is the most trustworthy of them all. he continues, if you don't understand that, you can ask edward snowden, the man who leaked security agency documents in 2013. joining me right now is gordon chang. he joins us on set. it is good to see you. >> thanks, maria. maria: mike pompeo is back from this worldwide trip, talking to european friends, trying to explain to europe that if you use huawei telecom, you will probably see less information from the u.s. in terms of national security. this risk is real. so much to talk about. got one executive making fun of the united states. where do you stand on this issue? >> first of all, look, we spy on china, china spies on us. that's edward snowden. what's different, though, this is why huawei is important, huawei can spy on u.s. companies to get commercial information
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that beijing will use against us in the commercial arena. that's very different. that's off limits. that's what the chinese said in 2015 whe2015, the chinese said y wouldn't do it. they continued to do it and ramped it up. this is very different. huawei is the core of china's plans to dominate technology. maria: it's that reason why i believe you cannot separate what's going on with huawei, with the issues in trade. in terms of the trump administration looking at i.p. theft. what you just said is i.p. theft. that's what it is. >> gordon, we spoke about this years ago. huawei's been at the forefront of our concern ever since we turned them down, relocating near a mill you tr military bas. we've been through this during the obama administration. maria: they wanted to move the huawei headquarters near a military base. >> near a military base. it was turned down. huawei's been at the forefront of what was considered the least
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trusted of all the chinese companies, which is why cfius has been tough on them. >> to put this into context, china donated headquarters to the african union from 2012 to 2017, every night beijing was filching information from the a.u. and using huawei equipment in terms of the download. maria: they built african telecom infrastructure throughout africa, they built their telecom infrastructure. >> so secretary pompeo is absolutely right. if you have huawei equipment in your backbone, especially for 5g, the internet of things, which will connect everything, you can't connect as well to the u.s. because we cannot endanger our networks because you decided to use chinese equipment in your net. maria: yeah. and the debate that we were having yesterday, dagen, about that op ed in the journal, about huawei. you know, the journal writes an editorial saying mr. president, you can't put these things together and you can't blow-off what huawei did. if they broke the law, they
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broke the law. the president never said he would do away with those charges. that's why i was pushing back on that. the president never said that. i mean, of course that's right. >> right, you want the laws to be enforced and work on trade agreements otherwise. dagen: this was an issue that was raised -- someone asked the president a question about is this on the table t. indictments involving the theft at t-mobile and the financial chief, who had been arrested. they asked him the question, he said well, i'm going to talk to the attorney general and the attorney general -- but it's not under discussion right now. impair rai'm paraphrasing. it was a warning shot from the editor l y'al l -- editorial pa. like don't do that. maria: what did you want to say? >> i'm wondering, the department of justice has obviously charged huawei stealing intellectual property. we're talking to allies around the world. a lot of them since huawei is cheap, want to keep buying it.
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is it a question of sharing more data with them or is it still unclear what huawei's up to? >> well, we know what huawei is up to. i mean, there are a number of different examples. just one that escaped the public attention, but it shows how huawei is working at the direction of the communist party. we learned three weeks ago that huawei smartphones in hong kong were not downloading content from twitter and fire fox. if you're just a smartphone company, trying to sell devices in hong kong, you're not going to do that. but you will do that in order to enforce communist party censorship. huawei really does act directly with -- under the direction of the communist party. maria: of course. >> against its own economic interest. maria: it's a communist country. we have to get your take on president trump and kim jong un. >> deal or no deal on a trade deal? >> there will be a deal but it won't last. maria: you mean a deal with china, but what will it include? that's a bigger conversation.
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is it just going to be the chinese buying more stuff from the u.s.? >> i think it will probably be the language on compliance and enforcement, on intellectual property theft and on subsidies, but that's going to be basically unenforceable. remember, we have had u.s. compliance people in china at zte and zte still violated its second settlement agreement with the u.s. by selling dell equipment to venezuela. even if you put american inspectors in china, it just doesn't work. maria: by the way, that's probably why the editorial board makes that assumption because of the way we treated zte. >> criminal laws ought to be baseline, regardless of -- of course. >> there are things called criminal espionage. that would be the path to go down if you want to put a hard line in the sand. >> definitely. >> we haven't gone down that hard line. maria: anything that's going to come out of the meeting, president trump with kim jong un, eight months after the first
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historic meeting in sing r pour. what do you think? >> i have no idea, maria. i know administration officials are trying to down play expectations. if you do put two willful figures in the same room, president trump, kim jong un, anything can happen. so there is concern that president trump is going to agree to some things that are probably not in our long-term interest. i actually think trump won't do that but that really is something you hear among many commentators. dagen: i think you can link what's going on with north korea to china, ken. a mutual like of one another, whether it's xi or kim jong un. can it actually translate into trantangible that benefits the united states and is enforceable. >> not enforceable. we can do a number of things to kick the can down the road and sometimes that helps us. in this particular case, i think that we really need to work much closer with our friends and allies, rather than with the chinese, who have not in fact been helping us on north korea. >> it was an interesting piece
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that whatever the president decides to pursue with north korea, that still from an economic perspective, because of the sanctions, for u.s. companies to do that it needs to go through congress to get reapproved and a lot of people think there's no way they're going to reapprove that because of human rights violations. >> history and peace deals with communist dictators is not a good one. >> it's a very poor one. even trade deals with a country called china. maria: it's good to have you this morning. be sure to join us live on thursday morning at 5:00 a.m., we'll be on an hour earlier. we've got special coverage of the second summit between president trump and kim jong un. are you excited about 5:00 a.m.? dagen: this is what i did when maria was reading that coverage. if you want to take a shot of me. i did this. this is me and maria. i went -- maria: [ laughter ] dagen: i love working with you so i love coming to work even an hour earlier. maria: love you. coming up, pharmaceutical ceos facing a grilling on capitol
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hill this morning over pricing. what to expect from the hearing when they take the hot seat. the industry under fire from the right and the left. that's next. and then amazon enters healthcare, the technology giant looks to improve patient care with alexa, we've got those details right after this break. back in a minute. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it starts acting in my body from the first dose and continues to work when i need it, 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes
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maria: welcome back. markets are down but it's largely two stocks, home depot and caterpillar on track to shave 70 points off of the dow industrials this morning. cheryl casone with the details. cheryl: you've been covering this all morning. home depot shares trading sharply lower in the premarket on disappointing earnings and revenue and weaker than expected same store sales. home depot also hiking the dividend by 32%. real interesting dichotomy. now to caterpillar, also getting hit. ubs cut the heavy equipment
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maker to a sell from a buy. the stock is down almost 4% now. there is cat. tesla ceo elon musk back in the spotlight this morning. the securities and exchange commission wants a federal judge to hold musk in contempt for violating a fraud settlement over a tweet that he sent earlier this month. here's the tweet. tesla made zero cars in 2011 but will make around 500k in 2019. he then tweeted he meant to say annualized production rate and end of 2019, probably around 500k. deliveries for year still estimated to be about 400,000. remember, as part of his settlement with the s.e.c. for tweeting about securing funding for taking tesla private, he agreed that tesla would have oversight and preapproval over tweets about the company. la shares down almost 3% in premarket trading. this is interesting. los angeles hospital cedars sinai is testing out a program
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that puts alexa in a patient's room. it uses a healthcare platform that helps patients communicate with the hospital staff. the idea is you're freeing up nurses from basic things like changing the channel on the television and getting medications, stuff like that, so they can focus on specific medical care. my question is, how many patients are going to say amazon or alexa please send me mcdonald's. just wondering if that will be an issue. maria: crude oil on the rise, edging higher this morning as you can see, crude oil at $5.48. president trump sounding off on opec as the price at the pump increases. instagram's most followed woman, who do you think it is. the social media giant naming a new queen, the celebrity claiming the top spot, next. ♪ it's hey, now, here we go. ♪ dj, don't play nothing slow. ♪ keep those girls out on the floor. ♪ got to make them want to come
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maria: welcome back. we want to check oil and gasoline this morning. the price at the pump rising six cents from a week ago. president trump targeted opec and the price of oil, tweeting this, oil prices getting too high, opec please relax and take it easy. world cannot take a price hike, fragile says the president. joining me right now is steven shork. as oil prices go up, it's like a tax on people. when you're paying more for gasoline, that means you pay less in any other discretionary items you might be paying money for. >> fair enough. but this is a pet peeve of mine.
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oil at $ $55 a barrel is not too expensive. they were artificially low back in december. wall street back at the end of the summer, bet on higher prices because of the iranian sanctions that were going to go into effect on november 1st. they were wrong and the market corrected and we bought in the low 40s. we're getting back to where we were prior to that bubble. at $55, it's simply not too high. it's a question of are they too low for producers. keep in mind, you have to have oil at a certain price, any commodity at a certain price to increase production, to bring more supply to the market. by trying to talk this down, you're targeting opec but guess what, you're also targeting west texas, north dakota and the other great oil producing countries in -- states in this country. trump is playing a dangerous game in rhetoric at this point. >> james free man at the wall street journal. i'm wondering if we could imagine that the tyrant maduro falls in venezuela and it
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becomes a more or less normal company, welcoming i objec inve, pro growth. what does that do for the world oil market? >> hi, james. it's going to take away the volatility which is very important at this point. you're not expecting to see any sort of material impact in the supply coming to the market. venezuela has been circling the bowl now for 10 years, the lack of infrastructure, the lack of investment, the lack of capital in that country means that it's going to be another generation before venezuela ever gets back to where it was one generation ago. so certainly it's not going to have any sort of material impact on bringing supply to the market. but the geopolitical risk, taking out will decrease l volatility. maria: the u.s. announced new sanctions, it's urging allies to freeze the assets of the state-owned oil company there and the situation seems to be getting worse. >> yes, steven, it's not surprising that the president would make that comment, especially as we enter into
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summer months. i mean, as maria started, this is viewed as a tax on the consumer. president obama used to kind of hint, i'll open up the reserves. he didn't of. but prior presidents, both bush and clinton, did open the reserves. this is something that every day people are looking at, what's the price at the gas tank. >right.>> we have to keep in mit commodity prices do not generate economic growth. economic growth generates commodity prices. when we have falling commodity prices, we have a sign, a hint that something is amiss in the economy. today, it is the end of february. we're going into march. we're putting different gasoline into our car. gasoline that is harder to manufacture, to acquire the feed stocks to make the gasoline. we're going into the summer months, the summer grades. because it's harder to make this gasoline, those prices inherently always move higher. we're at that seasonal inflection point where we're supposed to start to see gas line prices rise.
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we're putting different gasolines into our car. i'll maintain that $55 a barrel, we keep on saying it's a tax, no, i don't take that view. keep in mind, oil or gasoline prices today at $2.80, they're still 5 # o 50-cents a gallon tn they were in 1981 adjusted for inflation. we want to see stable, strong commodity prices because to me that is the biggest tell tale that we have a strong, growing economy. >> wages adjusted for inflation, i think they're down more. >> no, i disagree. again, once we go across for the last 30 to 40 years, going back to 1980, wages have been stagnant over the previous two administrations, bush and obama, why we have trump in office today. when we move along the x axis, completely, certainly a pullback in demand for -- the pullback in price is certainly not a detrimental impact on consumers. maria: i don't think we're
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disagreeing here. we're talking about two different things. my point was if gasoline prices go up and we see a significant move in gas, it does act as a tax on people. are you saying that no matter what the price of gasoline is, it's not a tax? >> i agree with maria. maria: that's what we're trying to say. you keep saying no, i disagree. we're not saying the current gasoline price is a tax but at some point when gas becomes expensive it does become a tax on people. >> that's why we're not surprised someone like president trump would make that statement. maria: i don't think we're disagreeing, or are we? >> i think we are disagreeing. essentially, price is a function of the balance between supply and demand. a taxis a fee, something that is imposed by the government. wawe have rising gasoline price. we probably have rising demand which is a function of a stronger economy. i do not look at it as a tax. maria: we will keep watching that. good to see you, sir.
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coming up, drug prices in america, merck and pfizer two of the pharmaceutical companies setting their -- sending their ceos to capitol hill this morning. what to expect from the hearing and possible regulation that could follow. we'll take a look at that. he wants his cookies, jason loves girl scout cookies and want some of the delicious treats that bear his name. we'll have more on that story coming up. ♪ i get delirious. ♪ delirious. ♪ delirious.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. your top stories right now, 7:3. investors are watching home depot this morning, the stock is down 1.5% after missing on earnings and revenue and same store sales. stock is well off of the lows of the morning, i should say. we're waiting on macy's. we'll hear from macy's later this morning. that stock is higher in the premarket. take a look at macy's up 1 and a third percent. we're waiting to hear federal reserve chairman jay powell's testimony. he will testify in front of the senate today and the house tomorrow and we are looking for any clues in terms of interest rate hikes, the economy, how strong it is and of course the global slowdown. futures this morning are taking a hit, given the weakness in home depot as well as caterpillar was downgraded. that stock is also down. dow industrials down 80 points, a third of a percent, s&p 500 is down 4 and-a-half and nasdaq is down 19 points. futures indicate a decline at
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the start of trading. optimism over china sent the major indices marginally higher yesterday. there is optimism the u.s. and china will come together with a trade deal. the s&p 500 was up 3 and-a-half and the nasdaq was up 26. in europe, declines across the board. take a look. fq100 down better than 1%, 77 points lower, the cac is down a quarter percent, 11 points lower and the dax index is down 27, quarter of a percent. similar story in asia overnight, lower across the board. well, the dark truth of being a moderator, a new report exposing the secret lives of those responsible for checking posts on facebook. wait until you hear this one. and then instagram influencers, saselena gomez no longer the mot followed celebrity on instagram. professional fighters league gearing up for a second season with big names signing on. we've got details coming up.
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our top story thi half hour, tackling sky high drug prices. pharmaceutical ceos are facing questioning today over high costs of medication in america. americans spent $333 billion on prescription drugs in 2017. joining me right now is oklahoma senator james langford many thanks for joining us. assess the situation for us, what do you expect to hear from the drug ceos, what do you want to get out of this? >> i fully expect to hear that they're doing research and development, they're doing the most innovative drugs in the world and that the problem is the pharmacy benefit managers. so we really do expect to be able to bring in pharmacy benefit manager, pharmaceutical companies, research and development, advertising, go through every spectrum of this. i expect everyone to point at everyone else. we've got to get the facts in. today it's the drug company ceos. maria: when we look at the pharmacy benefit area of healthcare, it does seem a
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little convoluted of a structure, right? because everybody gets a take and that's why prices have to keep going higher. so have you thought out how the structure should change as a result of that? >> we have not walked in with a predetermined set of outcomes. we're going to get a chance to hear everyone, walk through the process and try to identify here's where we see gaps and problems and try to resolve it. almost no one pays the list price for drugs and the drug companies will say we know the list price is $700 for this per month. most people pay $40 or pay 25 # of dollars. and they -- $250. they want to say the list price is not the actual price. there's a whole convoluted system of rebates, pharmacy benefit managers, how they manage the list price, of kickbacks to different physicians based on whether they're medicare part b or part d. this fits into the actual drug pricing. the consumer doesn't understand why this ends up this way and
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the system is so convoluted that it's very difficult to be able to determine where the actual price changes. maria: you look at a drug for cancer, i mean, things that people need to stay alive, you're talking $160,000 for a year, a half of a year, medication. have you thought out whether or not this is going to result in new regulation? >> i would assume it's going to end up in new legislation and that will create new regulation after that. but we've got a lot of drugs that are out there that are old drugs that there hasn't been significant differences that the price continues to go up, like insulin and there's been a lot of conversation about that. this is not about new r&d, about insulin, this is an older drug. epipen was a famous example of that. we have cancer drugs and new drugs like drugs on sickle cell anemia that will be life-saving for people. if they're so expensive, you can't get to them. maria: we'll be watching the hearings this morning. we want to get your take on two other things. first, this new story this morning from the verge, titled
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the trauma floor, the secret lives of facebook moderators in america. details the health concerns that employees are facing because of the disturbing consistent p teny monitor. the report says the employees are routinely high and they joke about suicide to cope with their job. you questioned the chief operating officer of facebook, cheryl sandburg, back in c you know the issues at facebook. tell us your reaction to this. >> it's a painful reaction to it. when i got a chance to be able to question facebook executives before it was how they do the monitoring in the system. obviouslying they don't want to talk about it. if they're going to train people as the article notes, they train people to say we don't allow people to have a murder posted on the page, then they're going to show their monitors a murder video and say is this in or is this out? that's incredibly traumatic for those individuals to be able to go through that process. i have to tell you, it's similar to what law enforcement folks that deal with child pornography cases go through as well as
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they're monitoring and tracking child pornography. my first question is, are people trained to be able to manage this and in law enforcement they are trained to be able to manage what they see and how they're having to address law enforcement, how are the facebook folks being handled and how can they be helped through the process. maria: same question here, senator. would you envision new legislation on the social media companies, particularly in this era of such focus on privacy? >> i would envision new conversation, not new legislation on this. obviously facebook and some of those entities are free speech platform, they're a private company. we have an expectation they're going to take care of their employees. they'll be existing employer law that should apply to those individuals doing monitoring as they do everywhere else and to say how are we guarding basic employee rights in this process. maria: let me move on to the other issue of the day, the border wall funding battle. nancy pelosi says her party plans to vote today on a
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resolution to overturn the president's national emergency declaration. this comes as the pentagon is reportedly moving around money toal locate $2.5 billion for border security. so if that resolution passes the house, do you expect it to pass the house and do you think it's going to pass the senate as well? are you going to vote for it? >> i think it will pass the house. i'm still trying to figure out what in the world it is. they're saying they oppose the president's emergency declaration. he hasn't put the text out on the emergency declaration yet. we don't know what it is. they're saying we oppose it, whatever it is. the white house will put out their emergency declaration details in the next week or two to be able to get out those details. many of the accounts, the treasury asset forfeiture fund allows the white house to be able to use it for any law enforcement purpose that's needed. clearly, doing border wall construction is within the law of what's already stated there. democrats in the house say we oppose whatever it is he's going to put out. we're waiting to see the text of
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what he's going to request. maria: senator lindsey graham says he thinks the republicans in the senate will side with the democrats. so in terms of your vote, do you think that the president has a right to do this emergency declaration or not? >> so, again, i don't know what the emergency declaration is yet. he hasn't put it out. the accounts i've seen, the top line on, he has the full legal authority to be able to do there are certain accounts within dod that the congress has said and the president agreed this is the highest priority. but old legislation, we're talking legislation from decades ago, already gave the president authority to make a decision if not this, it could be this and there's a list of 20, 30 things in that list is actually a list of border security. so if he puts those accounts in, that means he has the legal right to already do it. they may not like it but it doesn't mean he doesn't have the legal right to do it. maria: if they were to stop this, does that put a stop to him using that additional $2.5 billion scattered around in defense, in different accounts, toward the border wall?
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>> the house would have to pass it. the senate would have to pass it. the president would veto it. he would have to come back to the house and senate and an override of the veto. i don't see near those numbers that would be needed especially if the white house puts out something they have legal authority to do. maria: you know the issues. i know you say you haven't seen it. you know the issues. are you going to vote for it or not? >> i don't see me voting to override his emergency declaration if he's within his statutory authority to do it. if he's going to agricultural accounts and trying to use them for law enforcement, that's different. if he's using accounts there's statutory authority for, he has the legal authority to be able to do it. maria: good to see you this morning. thanks so much. james langford joining us there. the big business of fighting, mixed martial arts, mma, growing more popular in america. we talk to the ceo of one of the top mma leagues ahead. selena gomez unseated, no longer the most popular woman on
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maria: welcome back. bank of america is dropping the merrill lynch name. cheryl casone with the details. cheryl: yeah, maria. bank of america's investment bank is ditching the merrill lynch name as part of the rebranding effort. it will keep merrell as the
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brand for the wealth management business. bank of america bought merrill lynch at the height of the 2008 financial crisis. merrill lynch was once the world's largest retail brokerage. well, the new queen of instagram saying thank you, next, to selena gomez. ariana grande, now the most followed woman on instagram, overtaking selena gomez with more than 146 million followers. according to billboard, 13 million people followed gran grande on instagram in the last four months. anyway, here's this, folks. aqua man star jason momoa wants free girl scout cookies after his picture was used to sell samoa cookies. one girl scout got the idea to the pictures on the boxes and brand them momoa samoas. sales skyrocketed. jason momoa says he wants a cut. he says i'm not a big span of ff
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samoas but he wants the girl scouts to send him trefoil cookies. maria: he sees the pictures on the boxes. they didn't check with him before putting the pictures on the boxes. cheryl: no, it might have been a good idea. dagen: it was one girl scout who put his picture on the box. cheryl: he's totally joking. dagen: by the way, he's -- i didn't know he was married to lisa bonet until he was on the red carpet with her. >> he wore a scr unchie as a wristband. dagen: jason momoa trivia, he presented the best academy award for a documentary to a movie about alex arnold.
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he was climbing with alex arnold a week or two before presenting the film makers with the best oscar for a documentary. so nobody pointed that out during the telecast. maria: you know a lot of stuff about -- dagen: because i am annoying. maria: you know a lot of stuff. >> you're a big oscars fan, i read that. dagen: i just want to say, i've been like this my entire life. i can't help it. i don't know where it comes from. if it's annoying, i apologize. maria: it's not annoying. i want to know what you know about mixed martial arts. peter murray and pfla fighter kayla harrison are here. they're going to talk about the business of mma we'll see what dagen knows about that when we come back. ♪ saturday night's all right for fighting. ♪ get a little action in. ♪ ge carl, i appreciate the invite here. as my broker... what am i paying you to manage my money? it's racquetball time. ♪
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maria: welcome back. the professional fighters league is the first pro mixed martial arts organization where fighters go through a regular season, playoffs and championship. there's a new deal with espn will have lots more fee people tunning in. joining us now is peter murray and kayla harrison. thank you for joining us. >> good morning. maria: this is big news with espn. >> big news, yeah. >> huge. >> really illustrates the mainstream, that mma is mainstream with disney, with espn committing to be the destination of combat and the pfl, we're only nine months old. we're on prime time, thursday night this spring, starting in may. we really own that night with the differentiated product.
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we have a sports league format, no different than the nfl, the nba, and so we're really going to be a leader in the next evolution of the sport and leading with innovation. maria: kayla, how did you get into it? >> well, i was an olympic athlete. i won two gold medals for our country. i knew i didn't want to do judo. i didn't feel like the athletic flame was extinguished. i said why not jump in a cage and see if i can handle it and make money doing it. dagen: did the striking come naturally to you? >> oh, my goodness, no. i'm still working on my striking to this day. it's completely different. you do one thing for 20 years and then all of a sudden they say hey, you need to move your head i'm like what do you mean, move your head. if you don't, you're going to get punched. so little things like that i'm still picking up but i love it. it's letting the beginner and the expert live alongside each other. >> how about when you do the punching, are you still mainly using the judo to take people
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down or are you more of a boxer? what is your goal in that area? >> i truly believe you keep the foundation that made you successful. so i'm always going to be a grappler. that's going to be my base. i want to be the best mma fighter in the world. i have to be a great boxer, kick boxer, cay ray a cay karate, al. dagen: that's what makes mma fascinating to watch. >> it's like a human chess match, someone's going to win, someone's going to lose. you have to use your body to do it. maria: floyd mayweather said he could get a billion dollar paycheck for three or four fights in the ufc if he wanted. what do you think about that? >> hey, i mean, crazier things have happened. so -- but there so much interest in combat today, bringing it back to the fla's product, kayla was talking about technique and strategy. we're integrating data and analytics in a major way, so fans will see this coming season
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athlete performance tracked real-time in the cage, on-air from miles per hour on punches and kicks to impact to calories burned. so we're excited about that as well. maria: what kind of data would help you most? >> i don't know. i haven't really thought about that i think it would be interesting to see sort of what kind of output i have in the cage and how my striking is, how hard it is, how fast it is, how accurate it is. i know i throw them. i hit them with the earth. so i know that's hard. maria: how do you train? how do you train, real quick? >> how do i train remarks d, whu mean. i do two to three work youths a day, six days a week. i moved to florida to train. i'm a professional. so all day, every day. maria: congratulations. great to see you both. >> thank you. maria: peter murray, kayla mayor son. -- harrison. we'll be right back. ♪
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next month, their place! a drop of dawn and grease is gone. . maria: welcome back. good tuesday morning. thanks for joining us. i'm maria bartiromo. it is tuesday, february 26 your top stories right now 8:00 a.m. on the east coast, home depot under pressure this morning think a down 2 1/2% after forgot quarter earnings missed expectations revenue also missed estimates company raised dividend authorized a share buy back but same-store sales weaker than expected another look at consumer macy's reports happening in moments, ahead of the numbers on macy's, stock up 2% we are
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expecting an earnings of 2.53 a share, on revenue 8.45 billion dollars, caterpillar another problem stock down on downgraded take a look, ubs cut stock rating to a sell, down from a buy. stock down 3 3/4% caterpillar declines home depot and caterpillar weighing on dow jones industrial average, to look at futures decline start of trading 85 points on dow, the dow down 896, s&p down 5 naz nasdaq down 21 investors waiting on jay powell testimony he will speak is to nat today house tomorrow we will try to glean any information on interest rate hikes the backup in the economy from that testimony, gains across the board yesterday meanwhile, optimism over a deal with china, on the trade story, the dow industrials off 60 points yesterday quarter of one percent, s&p up 3 1/2 points the nasdaq up 27 points, a third of a percent higher, yesterday, 4:00, on wall street, global markets this
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morning lowerf00 down almost 1% off lows of the morning cac quarante in paris down 9 points dax in germany down 20 points this morning asia overnight declines across the board, as you can see, largely about fractional but down nonetheless legal troubles for elon musk because of twitter account and he is back at it this morning what he is saying about the securities and exchange exhibition, now. what he tweeted about just moments ago we've got it. colin kaepernick reportedly wanted big bucks for sfl how much asking for later this hour, stories coming up tuesday morning joining my to break it down, fox business network dagen mcdowell wroj assistant editorial page editor freeman, former economic advisory to president obama robert wolf great to see you. >> waiting on macy's looks like, the numbers are out revenue is above expectations, but we've got the stock
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turning negative, same-store sales look at a disappointment 7/10 of area per versus estimate 9/10 of a percent we he know disappointment on home depot. >> looks like we have been looking for retail signals to get a market reality check on government december retail report terrible, it was late because of shutdown people have been trying to figure out was it on target, so this is another i guess, maybe not as good as it could have been but better than you would think from government data kind of report. >> yeah getting numbers out, james because it actually looks like a beat on earnings. >> oh. >> but revenue is -- also just pretty much right in line with what we expected. i think is it same-store sales is probably the issue here, but the stock is going back-and-forth because actually not as bad as what we saw in home depot numbers
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you've got a buy for retail market bottom line earnings 2.73 a share versus an estimate of 2.53. >> more reason to about skeptical about that horrible december federal report on retail sales we have seen bunch of big retailers as robert pointing out not whole economy you have to separate same store versus only but results from individual companies look much better than we got for the economy wide report. >> stock on fire up 4 and a quarter % macy's. >> as maria, you said earlier there is a fragmented market cat pilla problem hurt global growth shoe home depot probably hurt housing feels a backseat, built we've seen great real numbers, since christmas james mentioned, especially macy's amazon, costco to some of the lower end stuff on higher end side, you know mixed results.
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maria: walmart was obviously a strong report. >> crushed. >> it they crushed it will we were scratching heads about after the he retail sales number. dagen: in had really brought down expectations for what the end of 2018 was like, but they had warned about it, that traffic had gotten soft during the middle of december. so i think that expectations were sufficiently lower that you get on top of the stock -- you get a pop in the stock here. i am curious to see -- if somebody can actually send me this i can't find it online, what their forecast is for the full year one thing servers were waiting for, investors were waiting for i will get that as soon as i get hands on it 325 is a estimate for the year, 305 to 325 the estimate but i'm sorry what company is saying the estimate was 329. dagen: that is so that is a
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so-so forecast very cautious you are getting a pop in the stock. >> year, up 3 1/4% right now on macy's so looking at the retail, environment james as you said, is not as bad as some of the numbers had initially indicated. >> it will be interesting to hear what jay powell thinks about economy also health of the consumer based on the january blowout jobs' report, you would kind of expect for the healthy happy consumer and seems to be partially refrltd. >> a macy's up 2 1/2% home depot down about 2% the wig story elon musk, securities and exchange commission wants a judge, to hold the tesla chief in contempt, because of his tweets, now on february 19 elon musk tweeted tesla made zero cars in 2011 will make around 500,000 in 2019. sec saying that is a violation
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of his settlement greenlt musk clarified again tweeted again this meant to say annualized production rate end of 2019 probably 500,000, that is 10,000 cars a week, deliveries for years estimated to be 400,000 muck on twitter again this morning, even though he -- the tweets he is getting in trouble a at which time oer user pointing out first feet did not move market sec's complaint did musk tweeted exactly this mass happened several times something is wrong with the sec oversight says elon musk, joining me to discuss this former prosecutor, criminal defense attorney, david bruno good to see you this morning. >> good morning, what do you make of all this? >> elon musk's tweeting sec watching obviously twitter feed. >> absolutely, i mean let's just take couple steps back 60 minutes interview he had no respect for sec he said i
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don't think he would be in present situation if it were mot for that interview, in fact in the papers sec filed, they actually cite that exact transcript and saying that he -- he has contempt. not following the order. of the and doesn't matter that he corrected it, because he didn't have oversight didn't get preapproval to do it in the first place. >> what is the wrongdoing, the settlement says what he can't make predictions like that. >> it is anything mercurial to the company immediacy to about oversaw preapproved by counsel. >> constant just do it. >> exactly that is what got him into problems the first place last year he talked about private funding. right so that is the reason for the settlement agreement, exactly that is the reason for the settlement in the first place. >> i mean as a ceo cannot give statements any time he wants, so he is. maria: public company. >> public company. >> wait a minute he can, it is
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just most companies are maybe little more careful about craft wag that forked looking statement is going to be before it goes out. >> has to go through a perspective what forward looking statement is -- >> who -- to -- >> otherwise manipulating stock you can't just say in room of analyst, you have got to have a public forum. >> you can. they can, as long as it is true. >> not a misrepresentation. >> and accurate. >> that was problem last year. >> i think his argument is that this particular tweet may not have been pre approved the general accept chaerg this has been. >> correct his argument, he goes back to the january 30th report. and transcripts of the call with investors, the problem is it is not verbatim not the same. and in the policy that tesla actually came up with it said, that if after two days it has
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to be reapproved so that is 30 days before so even if it was accurate it still had to about reapproved and he did not go through that process. >> if not he mistaken that tweet he did have a mulligan he changed the facts from 500,000 to 400,000. >> initially he said. >> we will get produce 500,000 clarified, he said i am talking about annual production rates. right, so whats he accurate? no he wasn't accurate. >> he had a mulligan all i am saying. >> what is the law on mulligans, if a company -- puts out an earnings release, and shortly thereafter says this is what we meant are they fine ordinary a serious problem. >> i think generally if corrected, not intentional act i think company would be okay however this different situation because he is under a settlement order as we speak with sec, it is not just about misrepresentation, it is about the procedure that he went
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through, and didn't get approval -- >> i have been on a public board social media is likely very new to public boards, and the idea that we have a ceo who is such a rock star like elon musk that every one listening to everything one of the high shorts in market one of the high longest in market a multiple a lot of people don't really understand people watching everything he says, every minute of the day. >> sec is not new to any public board any ceo he went online, on social media, on twitter, in august said something that wasn't true. >> right. >>. dagen: period. funding secure -- in early august multiple people reported that they had not they were trying to line up potential investors buyers when he said that. so that was not true. he is in trouble because of that. and he keeps poking the bear, eventually they are going to
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come after you going to get you you call that wrong or not, but they are going to go through every single thing that he says on twitter whether emoji or not everything that he says publicly, in a public forum, and going to go after him and this instance because they corrected it, that probably not going to bar him from acting as -- in management capacity keep going to keep at it going to get in more trouble unless they reign him in or control himself doesn't to be able to -- >> i agree i think may be subject to sanctions if the contempt is found because there are deare defenses he is g to say i corrected it need diligent efforts to comply, i don't see them barring him based on these faction but still at it today, and let's see what future brings. dagen: in his defense he said something, that he pointed out
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quarter conference call somebody asked him noted comments from the call that suggested model 3 deliveries would range between 350,000 to 500,000 dollars, this 500,000 units this year, he pointed that out on twitter that is why not going to get in trouble for this but if he keeps it up, he will get in trouble. >> on that call very different he was talking about shanghai factory if it was complete by the end of the year would get to that growth rate, so that is not going to about a defense in my mind. >> we leave tlilt great insights thank you, we are in countdown mode to the high stakes summit in hanoi president trump to land in vietnam next hour prepares for second round nuclear talks with north korea kim jong-un live the vietnam for the very latest when we come back more kaepernick to recover two leagues expressing interest in former 49ers quarterback he came back with a hefty price tag the details on what he wants back in a minute.
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. maria: big day in vietnam president trump to land ahead of summit with kim jong-un ed good morning to you. reporter: maria, good morning great to see you kim jong-un is on the ground here in hanoi already visited north korean embassy a red carpet rolled out for him, upon his arrival. here in hanoi, this is a long joirn for him three days, on adjourny from pyongyang to hanoi maybe retracing steps of his grandfather who decade ago made a couple of trips to vietnam by train, as well also, perhaps, because he is so par aid in aboparanoid armord
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train long adjourny president trump many hours on air force one two refueling stops one in europe to arrive over an hour big business singapore was first round, they signed an agreement, suggesting that that north korea would move towards demake sure toingization u.s. intel community believers kim jong-un has been cheating not actually been following through on all of that, what kim wants here in hanoi to get u.s. boot off his throat if you will some relief on tough u.s. economic sanctions, president trump's position has been he is not going to do that unless he gets the big steps towards denuclearization, democrats back home in u.s. as you know sounding very pessimistic about takes, the president is trying to strike san optimistic tone, listen. >> i want the president to succeed but i am deeply skeptical the president based on his first summit with kim
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jong-un is headed in the wrong direction. >> i think as we speak have a very good very go a summit i think a very tremendous summit we want denuclearization a signing summit even better hopefully, we can get that completed we are getting very, very close. >> now another point being negotiated the possibility of a formal end to korean war armistice decades ago never formally end that had could be a move that would relieve some pressure on kim jong-un enable to him negotiate more on denuclearization big decisions going to have a working dinner next 24 hours, may be a whole series of other meetings. maria: we will be watching developments ed thanks so much ed henry hanoi, on wall street retail earnings in focus home depot set to about a drag on dow industrials cat littlear as well, lauren good morning to you. >> hey maria home depot caterpillar shaving 70 points from dow jones industrial average some color on home
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depot if you remember facing a tough year-over-year comparison they had advancing rebuilding from hurricanes one thing to keep in mind forecast for 2019 disappointing, are showing that you housing market remains very delicate, also want to talk about macy's, the stock is up, you have been noting today, they have announced a restructuring, this will save a hundred million dollars a year complexity of top management and frees up decision making below could be one of the reasons stock slight beat for earnings in revenue the stock is up one and one half percent in the premarket, let's flip it to facebook. the exposé about what facebook contractor mod decorateors go through o posts, workers in units they spoke to are suffering ptsd like symptom
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get this only paid 2, 29,000 a year facebook employees paid 240,000 a year a major problem for the company, as report showed us another story about facebook, we are seeing, australia the uk, international governments making a big push, to make it easier for law enforcement to get data from facebook and other companies, of course, silicon valley is pushing back watching facebook stock as well. maria: they've got data for sure lauren simonetti, at nyse. >> macy's i think what was interesting, also you know, year-over-year they have done about 50% may be like future that is why there is a pop. >> prime problems for amazon as well after this. [ telephone rings ] [ client ] - hey maya. hey! you still thinking about opening your own shop?
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nearly 200 passengers stranded on train since sunday cheryl casone. cheryl: this is crazy maria, this amtrak train has been stranded in oregon since sunday, it has fallen free during a strong winter storm train heading from seattle to l.a., and no one was injured, it wasn't to get passengers off train, can't get to train because of all the snow. >> strong opposition for amazon canceled plans to build second headquarters in new york city doesn't mean welcome with open arms in virginia reportedly facing new york style pushback from politicians, community and advocacy groups arlington, wanted headquarters new york fifth virginia concerned about issues that include generous government incentives, rising housing costs so that colin
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kaepernick demands big money reportedly told reborn that he would play for league if he got paid 20 million dollars far cry from 250 grand to pay starting quarterbacks, talk to kaepernick no word if a deal was reached, owns the first round of players in first quarter this year, likely nor not 20 million each, back to you. maria: big numbers here. cheryl: quarterback in nfl -- >> there you go. >> many people -- i don't think he wants to play football. >> you don't? >> i think maybe did you recognize the gig more fun. >> i respectively disagree few years ago no question capable of playing in nfl he is better than almost every backup in the league a bunch --
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>> maybe he don't want to play. >> may be true said earlier there may be he just got x-number of dollars in this case, other case. for him, he would be biggest probably star in new league i think that you know -- all these stars they want a piece of the action. >> he wants money the money is on the -- the topic conversation jay powell in hot seat federal reserve chairman headed to capitol hill it is expected that he will face questions on the economy, interest rates and the fed balancesheet what it could mean for market coming up next markets down a hundred points right now stay with us. ♪ .
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maria: good to have you with us i am maria bartiromo. watching retail earnings and the economy, just getting building permits and housing starts out, let me tell you about home depot stock, taking a hit after missing earnings and revenue expectations, as i see the stock down better than 3%, macy's on the other hand is up this morning, although here too we have seen it come way off highs of the morning it will posted better-than-expected earnings this morning on macy's, as you see. it has been a troubled story though on macy's last couple years, caterpillar down in premarket, after ubs cut rating on equipment maker, to a sell, went to sell a from a buy, down 3 and two-thirds% right now, and we've got building permits and housing starts coming off, right now,
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actually buildings perlts better than expected building permits 11.326 million versus estimate 1.29 million housing starts down -- for the annual rate 1.078 million versus 1.24 million estimates building permentsz december up 3/10 of a percent for month looks better than expected on housing still talking about the lowest level in two-plus years we are watching housing starts we will get you info what is happening take a look at futures indicating decline a hundred points out of the gate on dow industrials s&p down 5 points the nasdaq, down 24 points right now, on futures, european indices also lower across the board. as you can see, here ft 100 down 60 points off the lows of the morning, and germany dax down 16 cac quarante in paris down 11% asian markets lower
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across the board, top story is the economy, and the federal reserve, are federal reserve chairmen jay powell, will head to capitol hill to face questions on the economy, and monetary policy, from the senate today, and house tomorrow, joining me right now, is citi chief economist good to see you thanks so much for joining us as we get housing starting numbers in i am going to ask you analyze them to get your analysis jay powell what are you ratepayering from federal reserve chairman today. >> -- >> to congress, what he means by more patience, went from extremely hawkish to extremely dovish in space of a couple months the latest statement that has come out of the fed, surely make it look as though they might not move at all this year, unless there are surprise to upside inflation,
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he has have to clarify what he means or seems to meing else. >> one of the reasons federal reserve had pivot looks like things started to slow down i mean a year ago today talking global synchronized growth story now a global synchronized slowdown frankly maybe not same range europe a lot worse than u.s. but still slowdown housing numbers out 1.07 million units month of december versus 1.2 million estimates on estimate this is a lowest level two+ years your reaction to what we heard this morning on housing. >> there is no doubt that both housing data, and -- are a drag on going to let now. if you starting from a position of reasonable so slowdown, likely to see this year still towards the end of the year even keep us growing
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of that potential yes, it is a slowdown certainly looks like one, but, you know, it is not -- a recession. >> where are the weak spots in your view? we heard from home depot macy's today we know that we've got very a much bifurcated retail segment walmart blowout number retail sales number as i know end of last year fourth quarter was real weak how do you assess the consumer today. >> first of all, i would discount this december retail a negative blowout, kind of makes no sense at all. maria: okay -- >> well, representative to -- >> got it. >> i would look at, more recent data, not just on aspect of retail sales but on consumer confidence, jobs growth, other aspects of strength to consumer not just
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at retail sales data. >>. maria: okay. so in terms of of the consumer then, he or she not doing so badly? >> if jobs growing -- wages growing real wages growing actually has a year in which share gdp for once increases, instead of being subject to secular decline people have pointed to i think this is not a bad year for households in all likelihood. >> knowing what we know now weakness in europe i saw estimate other day eurozone is growing 1%, china slowing down. >> our estimate too. maria: one percent okay. what is your take then on the u.s. economy, today? do you expect the fed to raise rates? so are is there not reason to given the outside forces? >> clearly the outside forces d
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dampening growth you still see fed raising rates once or twice this year also for growth and inflation materialize these are optimistic we have 2.6% for growth this year, and underlying core inflation not that far below target. >> how did you arrive at one percent growth number for europe. >> sequence of bad surprises coming from germany especially, and steady performance from italy, that is two of three largest countries, underperforming there is nothing on the other side, clearly out performing, so there is really germany, italy dragging the rest with it again, the external environment in europe much more about factoried by what goes on china and global trade than the u.s. is. >> doesn't that have to hit united states though. >> it will. the u.s. is less open to trade
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than europe is. so the same global traded hit, affected have an in u.s., there is growth undoubtedly. >> what do you i make of former federal reserve chairman janet yellen's comments criticized president trump in a radio interview i got to get your reaction. >> do you think the president has grasp of microeconomic policy. >> no, i do no the. >> tell me why. >> um -- >> i -- i doubt that he would -- be able to say that the fed goals for next o unemployment price stability goals congress on to defend. >> reaction. >> comment on rest of the statement -- that certainly presidents of the ages have
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not been specialists in global market economic analysis, the fed is allowed to get on with its job, is to see employment stable prices. >> you've got to give president some credit basically called out fed when on auto pilot the end last year on auto pilot sighing we're going to sell 350 billion dollars security every month get balance sheet down from four plus trillion to lower than than raise ratings three times a little bit of auto pilot, right? actually things were happening around that -- required a change a pivot they later did. >> so fed changes position as a result of financial market. >> right. >> and changed it quite radically. >> do you think there is going to about a recession on the horizon for the u.s.? that is the question. >> not this year. and really in projection -- one next year the further out
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you go, cycles recessions are a normal part of the economic behavior of the market economy. maria: after all this expansion is what what are we up to 120 months at this point. >> close to 10 years, yes really is very long by now. >> sure does great takeoff on program don't be a stranger, joining us, coming up the green new deal study says will cost estimated death this are you sitting down? 93 trillion-dollar that is the tries tag you know stuart varney has to weigh in on that knowledge could up next the perfect fit speaksing with ceo of one star revolutionizing t lingerie industry. >> ♪ b is bigger than the last generation. it's the first truck i've seen make you look small. but that's not all...
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oh, gosh. sweet, sweet. . democrats green new deal with quite the price tag, 93 trillion dollars according to study done by american action forum joining us right now host of "varney & company" stuart varney to weigh in on that, wow 93 trillion stu? >> how about that? not like this is off the wall estimate from a lobbying object obscure lobbying group this is -- the man used to about director of the congressional budget office knows what he is talking about 93 -- billion -- sorry trillion dollars is so
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astronomical you can hardly come to terms with it. i think that green new deal is fantast cal economic nonsense a chronic embarrassment to o those who he walked it all or in part scenario harris, gillibrand booker warren sanders they backed all or part of the green new deal. price tag 93 trillion dollars makes utter on in acceptannon s politics democrats submit down the moment no significant moderate is part of the presidential pack. we are waiting for joe biden maybe bloomberg to get in maybe think will get in this week, but if they don't the feud is clear to people who back a 93 trillion-dollar
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program this is ridiculous. >> does it does that change the pathway for howard schultz opening things up for him i wonder. >> yes if no moderate jumps in on the democrats side slurl howard schultz of bear that mantle as an independent. and he will be the only moderate in the field. and i think that is a powerful position to about in. >> do you want to say anything we've got robert wolf here attacking the democrat support for the green new deal you made the point earlier. >> i am surprised i am going -- i am -- going to agree. >> you are a moderate. >> we don't agree on anything. >> it is unusual you know boebt capitalists a little bit. >> well -- >> so aren't you? >> [laughter] >> the. maria: capitalist question are you a socialist in in democratic party?
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>> klobuchar not supporting this sherrod brown probable not supporting this i spoke to biden a week ago, he will not be supporting it. >> 90% running. >> yes. >> the is he going is for this. >> highly unlikely this is where he will go. >> when will he announce running. >> my gust tells me if he announcing it probably sometime in april after the quarter making sure prepared to launch campaign. >> i think there is a battle i think stuart says there is a battle within the party between the populist left and moderate, and recent poll came out that actually the flats want to actually shift more moderate. and so it is very interesting that this is getting all airtime would i say pelosi called this a green dream. >> didn't to many perez say alexandria ocasio-cortez is the face of the party. >> i think she is my question to robert is if joe biden gets in, mike bloomberg presumably
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does not is that accurate. >> i would say makes the lane very tough for both him and schultz, also vice president is going to have a tough time in primary, i mean as we have been seeing, you know the party shifted left, and the primaries are going to about tough for is one more is towards center. >> talk about here stuart you hit finger right on it 10 minutes a lot more, "varney & company" begins every day 9:00 a.m. eastern after "mornings with maria" first border backlash this morning the house is preparing the vote to overturn president trump's national emergency declaration on the floor today what it would mean for president's wall funding revolutionizing, retailing, back in a minute.
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lingerie expand to go 78 bra sizes 55-million-dollar round of funding investors there starwood capital group chairman youtube ceo, and 23 and me ceo, and former ceo tim armstrong the co-ceo cofounder, great to see you. >> great to see you congratulations on funding you've got big deep money pockets interested. >> absolutely. >> tell us about the company. >> third level underaway brand revolutionizizing the bra we have digital fit finder women find fit online we have cut size wide range to fit all building a brand inclusive versus kind of focused on
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super models. >> conclusive meaning you've got bigger brass. >> yeah, we go through 48 band icut now women larger chested tend to have less choice. dagen: don't like being shamed i will say victoria's secret i have endlessly about victoria's secret really ridiculous beauty image they push on american women i am a huge podcast learning i hear your ti ts, talks about results podcast is our best performing marketing channel in terms of, is that right. >> absolutely one of the first we started with facebook podcast late 2015 amazing women hosts are passionate about that product comes through, and women trust their he referrals so amazing channel for us. >> what about the broad backdrop of the industry
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victoria's secret has been a mainstay for a long time you are trying to give the whole industry a shake-up, victoria's secret facing the slowest sales, target launching is line, how do you cut into the -- noise crowded field. >> i think really about pushing industry forward to about more inclusive i think what you see with target and launch is much more expansive size range similar to what we have done at third love i think great for the industry absolutely like helping women to have more choice the goal. >> do you see yourself going into stores having your own stores. >> potentially, i mean obviously with capital we have raised would be an option this year. >> i think yours you offerings more peeling than the green new deal. >> interested in podcast how marketed other people's pockets or your own podcast. >> most time the host will talk about the product experience the product and talk about it, so not so much me going on podcast. >> it is old school radio.
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>> advertising, where you have it is a basically a sponsorship you make sure that the host uses your product very effective, very effective. >> looks like an pricing average pricing. >> 68 dollars. >> good to have you on the show. >> thank you so much we will be watching, coming up national emergency outrage what is at stake president trump's border wall house democrats prepare to vote to terminate his national emergency declaration. back in a moment.
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maria: welcome back. we want to show you these live pictures. president trump is just right now landing in hanoi, vietnam for his summit with north korean leader kim jong-un. we have been waiting for the president's arrival and here it is. kim jong-un is already there. we heard from ed henry live on the ground earlier. back at home, the house is scheduled to vote on a resolution to halt the president's border wall national emergency. blake burman is at the white house looking at that. real quick, to blake we go. blake, good morning to you. reporter: good morning. the democratic controlled house is going to take up the president's national security declaration today. the house will vote on a resolution to block the president's national security declaration in short. this will now go over to the senate and that's where a lot of the intrigue rests as one republican senator, tom tillis, has come out saying he will side with democrats to block that resolution. it remains uncertain how many votes the senate will have as to whether or not they will pass it or not pass it but in any event, the president has said that if
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this is blocked he would veto it. as you know, the courts are most likely going to intervene with this one. the president landing in hanoi, vietnam for his upcoming summit with kim jong-un. maria: thanks so much. great show today. thank you, everybody. have a great day. seize the day. right to "varney & company" we go. stuart, take it away. stuart: good morning, maria. good morning, everyone. air force one lands in vietnam. president trump prepares for tomorrow's summit with north korea's kim jong-un. we want him to get rid of his nukes. we want proof that he started the process. in return, our president will reportedly guarantee that he stays in power and that north korea could become prosperous like vietnam. tesla's in the news again and it's not good news for stockholders. the authorities have asked a federal court to hold ceo elon musk in contempt. he's not supposed to issue tweets without preapproval. the s.e.c. says that's what he did last week when he tweeted about producing 500,000

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