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tv   Mornings With Maria Bartiromo  FOX Business  March 4, 2019 6:00am-9:00am EST

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jpmorgan says you can have global stock market. ubs with another 10%. i'm ready for maria bartiromo. mornings with maria starts right now. maria: thank you so much, cheryl, good morning, everyone, thanks for joining us, i'm maria bartiromo, happy monday, monday march fourth, your top stories right now, 6:00 a.m. on the button on the east coast. closing in on a deal, the u.s. and china are in the final stages of reaching trade agreement, what's on the table plus the latest on the threat from huawei as the technology and telecom giant lashes out against the u.s. government, extreme weather bearing down across the country this morning, torpids with avalanche, with the very latest right here, retail earning season rolling on, the big one to watch today, target, kohl's, cosco, we have the preview. one lucky person is up against the clock this morning, a winning mega million ticket still unclaimed.
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the winner has until 4:45 p.m. eastern to take hold of the million dollar prize, mornings with maria begins right now. ♪ ♪ ♪ ♪ maria: markets are higher this morning on report that is the u.s. and china are close to deal on trade, wall street journal reporting that the deal will include china lowering tariffs on u.s. goods. china and u.s. lowering tariffs, china lowering tariffs on u.s. goods, beijing buying more american products including large purchase of natural gas,
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dispute mechanism for u.s. companies and the u.s. removing tariffs on chinese goods. new report is predicting that a deal would get done with some tariffs remaining in place going in 2020. joining me right now gary b. smith, would this be a big deal for markets? >> well, you know, i certainly think the perception of deal would be good for the markets and reality even if all the tariffs imposed or tariffs removed, you know, i think the effect on both -- we are talking about almost 30 plus trillion in gdp, the effect will be minimal but it's kind of a feel-good news, i've always discounted the effects of the tariffs, look, i will take any good headline news. maria: feels like it's one to have issues that keeps coming up assort of an uncertainty or unknown from the market, so once getting the clarity in place i
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imagine is a good thing. what about earnings? let's talk backdrop for a moment on stocks, earnings and the economy obviously the backdrop, we have the job's number at the end of the week, major retailers, target and kohl's reporting earnings tomorrow. cosco on wednesday and economy expected to have added 180,000 jobs in the month of february with unemployment rate edging lower to 3.9% is what we are expecting, this report, what are the -- what is priced into the market? >> well, i tell you what, based on the fact that almost since christmas the market has been up almost 20%, i think 20% plus depending on what average you look at, i think everybody is priced into the market, maria, that's my only, i guess, fear of the market that we've had straight-up rally, every piece of good news is priced in.
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doesn't seem like the markets think of any other shoe to drop, if china deal goes astray, if the mueller investigation reveals more skeletons that thought, maybe i'm being a negative nelly, there are good bones to the economy and maybe the market can keep, you know, going north. i would prefer quite honestly to see the market move a little sideways kind of pricing good and bad before we keep propelling straight up but you're kind of right, everything that you layed out there seemed to go going quite well. maria: we had the atlanta federal reserve estimate gdp on friday and it's 3 tenths of a percent growth for the quarter for atlanta fed. the number seems to change a lot but this is not a good number for the first quarter and i imagine it's largely due to the shutdown. >> yeah, no, i agree, you know, the numbers more and more seem to be kind of pivoting from
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quarter to quarter. i think the thing that was most gratifying, though, is despite the good growth, despite the good earnings, inflation seems to be kind of nonexistent, maybe because people have so many more choices now if prices go up in one area, they shift to another area but regardless it means the fed is kind of holding down on any further rate increases hopefully because they see the same thing, almost very little inflation, that's good for the economy. maria: real quick, are you buying stocks or avoid? >> i'm a momentum trader, i'm buying stocks based on earnings, i think the key thing you hit on is retail earnings coming out. i will be taking a look at what i call the big box stores like cosco are doing, also target, i think that's the key area, customers are looking to spend, that's what i'm spending my retail money, i can't remember the last time i went to department store but certainly going to sam's which is wal-mart
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and places like that, that'll be interesting to see what they can come up. maria: all right, gary, gary b. smith, we want to turn to tesla this morning, ceo elon musk announcing that the company will unveil model y, crossover suv, that happens next thursday, dagen, what's your take? dagen: we all must follow elon musk on twitter because here is what he had to say, model y unveil event on march 14th at la design studio, let's put those tweets up so we can look at them. model y being suv about 10% bigger than the model 3, so will cost 10% more and slightly less range for the same battery, let's put the tweets up because i know that we have them, let's show what musk was doing on twitter, detail specs and pricing will be provided, so this is the fifth model launched since tesla founded in 2003,
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cheaper crossover, the electric pickup truck for all you red necks out there myself included will be unveiled later this year, we found out as well. the model y, remember last week elon musk reveal thrad the 3 is the base model is going to be $35,000 now, they are going all online, cutting jobs, shutting down stores, the model y will share 75% of the part with the model 3 which is currently tesla's most affordable car. so that -- there are the tweets but again if you don't follow elon musk you're really missing something and by the way, just on the stock, the stock was down almost 8% on friday because musk revealed also that tesla is likely not going to be profitable in this quarter, that hammered the stock and it's down more than 11% year to date. so it's got a little bit of pop in premarket actually. maria: the bond payment due. dagen: biggest bond payment which ate big chunk of the cash.
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that was known, though, the thing that surprised investors is definitely musk, oh by the way, we might not be profitable in first quarter when you're cutting prices and any time you say we are going online only, we are cutting jobs and shutting down stores that made investors nervous, a sign that they are trying to save cash here. maria: i wasn't sure what it was that was hurting the stock so much on friday. that was a big move, dagen, thank you. meanwhile there's this, deadly tornado ripping through alabama, cheryl casone with headlines now, cheryl, good morning to you. cheryl: good morning, this tornado has left path of devastation for alabama, 23 people died including several children, countless more are still missing this morning, tornado one of a dozen twisters to cut down in the southeast yesterday with others recking havoc in georgia. shutting down schools and causing major travel problems, some areas getting up to a foot of snow, power outages are
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widespread, hundreds of flights have been canceled so far for today and extreme weather in colorado caught on camera, avalanche barreled down a mountainside right towards big highway. >> you got it? >> it's not going to come down here, is it? is it? cheryl: they kept driving as they were filming. creaded powder cloud near the highway, outside of denver, nor people or cared were buried, nobody was luckily injured. all right, well, the new lawyer for former nissan chairman carlos goshn says he's optimistic the executive could win bail in the near future, the lawyer says goshn is willing to accept camera surveillance as a way to monitor activities if he's released. goshn has been in custody in detention in japan for over 3 months. well, it is merger monday for a
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pair of popular at home product makers, instant brands, they are the maker of instant pot, merging with corell brands, the wall street journal saying combined company can have a value of more than $2 billion, maria, a little merger monday for you. maria: thank you so much, cheryl, take a short break. when we come back, threat from huawei reportedly planning to sue the government now. the jackpot winner, winner of mega million dollar ticket still has not claimed and has until this evening, more stay right here. ♪
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maria: welcome back, big show this morning. chairman, kevin is with us. reagan budget director david scotsman. florida congressman and retired u.s. army lieutenant colonel allen west. mohamed joining us as well. don't miss a moment of it. we have a big 3 hours right here and we are getting ready for court battle, report in new york times this morning, chinese telecom giant huawei, challenging u.s. law that prevents u.s. agents that prevents from using huawei equipment. the suit expected to drop this week, as chief financial officer is suing canada, border agency and the royal canadian police alleging that detainment and the
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-- questioning her before telling she was arrest, was arrested in december for allegedly misleading banks about huawei's dealing, joining the conversation pwc partner mitch roschelle and republican pollster kristin anderson, thank you so much for joining us. >> good morning. maria: the huawei story is getting bigger and bigger since the u.s. is out trying to send a message to people that the huawei telecom makes you vulnerable, we will see where it goes. >> trying to send a message to the risk of the world who is looking to get 5g, maybe 6g, huawei is trading partners with that. maria: even though we have seen multitude of lawsuits where u.s. companies have sued huawei and settled, huawei continues to say that there have been no
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intrusions on friday u.s. security officer, campaign against the company. mike pompeo had just come back from europe and he talked about the threats because he was trying to do his own pr campaign throughout europe telling european countries, if you have huawei telecom, you will get less information from the united states. >> well, obviously the u.s. has been in global campaign to try to stop companies and countries from using huawei, i got back from 2 weeks in poland, the fact that there are real risks in cyberspace, benefit that is will come from 5g are tremendous but measures that need to be taken and standards that need to be developed that need to address the risk that is exist from all products. maria: and the risk is espionage, mitch, at a time that china is getting more aggressive with the military, getting more
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aggressive with really economic warfare. >> trade secrets. maria: right. >> i sent you the note, if i wasn't nervous before the interview i'm nervous after the interview because i didn't get a lot of comfort in words. but there's a lot -- here is the thing, the reality is data will be everywhere and it's more and more important than ever to protect data and this is right in the middle of it. dagen: do they really want all of their real secrets spilled in court? do they want -- do they want to have to face all of the companies that they've actually stolen technology from? ceo's, you name the company. all of this will get -- if they really push it and wanting to to trial with the united states, it will -- all of their dirty laundry will be aired. maria: this is a very good
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point. this is because china is getting more aggressive on the military front as well as the economic front and this is a state-owned company, right there is the risk, this is not a private company. this is a company where the communist party is on the board and it's a communist country, your thoughts? >> yeah, if you want to play in the global marketplace and you're coming from an economy that plays by a different set of rules, makes sense that the united states government would step in and say we may have national security concerns and my understanding is that in the courts typically if the government can make a case, look, there's national security reason why we want to do something, that they tend to prevail, i believe an example was systems antivirus protection that they sued the united states government and the suit was dismissed on the grounds that you're allowed to do things to protect national security and as long as the risk still exists,
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they have a chance to prevail. maria: you know what i was looking at this weekend, i just got the research group and they say that are leader in terms of research on video cameras and what this report says which i have here is that huawe telecom components are in 60% of all video cameras across the world. 60% and the two leading video camera makers are chinese and they have 50% market share across the world, so i don't want to be an alarmist here but at the end of the day when you think about video cameras it could be panasonic, it could be any video camera but has huawei telecom equipment inside, the chinese are not just listening, they are watching. that's right. facial recognition is huge and china uses it obviously they are tracking their citizens, they are using in different way than the u.s. is but i don't know, when you look at all of the data
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that the telecom companies in the u.s. have, it's facial recognition and data is really important to watch. so incredible. dagen: important that the administration puts foot down about abuses from huawei and particularly also we should point out also that charges related to theft from t-mobile. it'll be interesting in the days and weeks on how this plays out in terms of getting tough with huawei and intellectual property theft and then the trade deal. maria: yeah, for sure. short break, when we come back, mayor recall this morning, subaru, brake problems that can affect emission. look at 2019 technology listings coming up right here.
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maria: welcome back headlines across america this morning, st. louis post dispatch writing that a massive gas pipeline had a fire and lit the sky in mid missouri but no injuries reported. natural gas pipeline ruptured along missouri highway, 15 early yesterday morning and took 40 minutes to burn after it was cut off. the ohio teen who got vaccinated against mother's wishes will testify before congress. ethan made headlines for a post about wanting to get vaccinated but parents were against it. ethan is now vaccinated, he will
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testify tomorrow about the importance of vaccines for the senate committee on health education labor intentions, over atlanta journal constitution reporting brook heaven to partner with doorbell camera app, download the neighbor's app from ring and use it as a neighborhood watch by sharing posts getting notifications and posting videos taken from the doorbell cameras and this is really -- we were just talking about facial recognition. >> this is one of the things that there's two sides of the story, one you worry about privacy but i can tell you how many times crimes have been solved because they have captured information on all of the cameras that are everywhere. maria: yeah. >> two sides to that. the question is good or -- dagen: i think one of the procedures that the chicago police department used to track what happened in the jussie smollet because they went to individuals and said can we get
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access to your video from your doorbell camera and tracked his movements, basically going from person to person. >> yeah. dagen: collecting videos. good use. >> also allow people to share with one another when a crime has occurred in the community, so in a city like wards, that's where i get notified if there's been a shooting or robbery within a certain block rad yous of where you live, it's helpful. maria: president trump's approval rating is climbing, more americans do not want a social nis the white house. then this, time is running out for one mega million ticket holder, he has until 4:45 this evening to claim the million dollar prize, story right here.
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maria: welcome back, good monday morning, i'm maria bartiromo, monday march fourth, top stories right now, 6:30 on the kiest others, u.s. and china close to trade deal. still a threat from huawei telecom, now the telecom giant says it's looking to fight back and possibly sue the u.s. government, markets are higher this morning on the possibility of a new deal.
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the journal reporting some details. dow industrials up 71 points, quarter percent, s&p 500, futures 7 and a half points and nasdaq up 33. that's one half of 1% this morning. gains across the board on friday even though the markets did come off of the highs after we got the atlanta fed expectation for the first quarter growth. up 110, s&p was up 19 and nasdaq up 62. well, the market this morning look like this, european indices higher, ftse 100 up 45 points and dax index in germany up 21. in asia overnight markets finished mostly higher with the exception of korea, best performer was shanghai up better than 1%, recall alert to report. subaru to takes million cars off the road in latest recall, largest recall ever. details coming up. lyft move ago head in race to ipo, what to expect before the company goes public later this month. one lucky person is up against the clock today, winning mega million ticket still unclaimed.
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the winner has until 4:45 p.m. to take hold of the million dollar prize. all the stories coming up this monday morning, first top story this half an hour, 2020, president trump looking for repeat performance next year. >> what we did in 2016, the election we call it with a capital e, it's never been done before and we are going to do it, i think, again in 2020 and the numbers are going to be even bigger. [cheers and applause] maria: the president speaking at cpac this weekend, new wall street journal nbc poll shows the president's approval rating is climbing, 46%, comparable to what for clinton and president obama were. joining us former campaign adviser and democratic strategists robin byro, thank you for being here this morning. >> you too, thank you, maria. maria: let's talk 2020 for a
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second, what do you think is going to be the -- the democratic candidate and tell me how you see things playing out here with that field getting larger on the dem's side? >> you know, we just had had two jump in within the last couple of days, getting larger by the day and that's going to favor honestly bernie sanders right now unless joe biden does enter the race, he did just recently get his family's blessing to run for president, so we are all waiting, if you recall, maria, he said he would have a decision by january, it's now march, so we are all still waiting to see if he's actually going to throw his name in the race. maria: i wonder why -- we are still talking about it. robin, the same poll is asking about desirable traits for presidential candidates coming in at the bottom of the list, over the age of 75 and being a socialist. 2020 democratic hopeful checks
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boxes and that's senator bernie sanders. >> correct. maria: from the survey. >> yeah, that's correct. he's got a distinct financial advantage right now, he's raising -- outraising everyone else and has enthusiasm, of course, as moderate democrat i've been oppose today any democratic socialism for years now but he's, you know, let's just see what he has, someone that i've learn today never underestimate, maria. maria: yeah. thoughts, the green new deal is taking a lot of the oxygen in the room, alexandria ocasio-cortez being criticized for traveling home from a parade in a 17-mile per gallon miniv van over the weekend, blocks over the subway, aoc responding to new york post, i will have you know my tia, aunt was upset that they insulted her mini van.
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if they saw so many guild fish, they would say i'm killing the ocean too. dagen: follow up by the post, green hypocrisy expose listing aoc and campaign's transactions on uber and lyft and the like, so i want to point these out real quick since she declared candidacy in may of 2017, according to new york post there were 1,049 car service transactions on uber, lyft and other services. more than $29,000 spent on the services when her queens headquarters was a one-minute walk from the train and you compare that to congressman max rose whose district is twice the size of aoc, only 329 transactions for car services,
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totaling more than $6,000, they will hold her feet to the fire because, again, the problem that a lot of people have with the elected representatives, their attitude is do as i say, not as i do. >> i have a question for robin because i'm interested how folks within the democratic party are thinking about the aoc issue, i know for those on the right a mix of acon the meshment of social media skills but the leadership has given her the reigns of the party and tweet from democratic pollster i admire her a lot. i respect her voice in the party, i don't think she respects mine or anyone else's who differs with her on policy or comes from a different political electoral reality, i mean, is the love affair with aoc, is this a democratic wide thing or is she -- >> she's somewhat of an anomaly. here on the left we are content with her right now because she's
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the new boogie man for the right, if you'll consider for the fact that we haven't talked about hillary's emails ever since she was elected and that's a like for me. and that's just being brutally honest but, you know, when hypocrisy is being called regardless of what side of the aisle and i do think she has -- it's not just cut and dry, she was in her aunt's mini van, the green new deal pushes to outlaw all carbon -- all fossil fuel vehicles in 12 years and, you know, she's got to put her feet to the fire on that. >> i think it's outlawing cows and a photo of her eating a cheeseburger on the weekend. dagen: can i just point this out, robin, former colorado governor hickenlooper to launch presidential candidacy.
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does he have a shot? >> it's hard to keep up with all of the names right now. a candidate that entered from puerto rico, he got enough support to now enter the democratic debates and his platform is speaking statehood for puerto rico. it goes on and on. maria: are the policies of this new group, of democrats trying to become president, are the policies worth talking about, do we know what their policies are or are the policies aoc's policies like the green deal or is there reason for running just to stop trump? i mean, is that going to work, you know, try run for president so that you could resist, resist, resist and try to take down the president, dually elected president or do you think that hickenlooper, kamala harris, have they articulated a proposal to help people? >> they have.
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some of them have had very specific ideas and a lot of them i'll be honest with you, you know how this works, a lot of them are entering this race because they're hoping that a democrat candidate actually wins and they could get a cabinet position, that's how it works and that's how it works in trump campaign. that's just -- that's just howie: it is. and i don't -- one that stands out for me is amy klobuchar and i think she will do well in iowa and new hampshire and gain traction because she's a moderate and that will appeal to more centrist people and maybe pull people from across aisles who may be holding their nose at trump. maria: good to talk to you. meanwhile there's this, we have been talking about it this morning, subaru with major recall. cheryl: recalling 2.3 million vehicles worldwide because of brake light problem, 1.3 million are in the united states alone. the affected models, 2014 to
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2016 forester, 2008-2018 and crosstrack, 30 reports of issues here in the united states, subaru will reach out to all affected customers. lyft beating uber and filed paperwork on friday to raise $100 million, began trading in late march under lyft, if you didn't get that, lyft rival, uber, expected to go public this year. one lucky person may soon be out of luck if he or she doesn't hurry up, 5 numbers drawn on march second of last year, winning a million dollars but the winner still hasn't claimed the prize and the clock is now
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ticking, the person has until 4:45 this afternoon to claim it if not the money goes into michigan's school aid fund. [laughter] maria: oh, god. we will have to see. coming up extreme weather, millions of americans facing heavy snow this morning, you are waking up to a storm. we have the forecast coming up. healthcare in america, new survey that points to reducing prescription drug costs as a way to ensure medicare's future, all of that after this. now...
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maria: winter storm causing cancellations and delays, fox news meteorologist janice dean live in weather center with the latest, janice. janice: storm number 3 in the last couple of days starting friday and we have received close to a foot of snow in parts of connecticut and new jersey, several inches of snow on the ground over a period of just hours overnight, certainly have shut down the schools in the area and roads are still very treacherous. the storm is almost offshore but the problem is, maria, the cold air behind it could cause a refreeze of some of the wet conditions on the roadways and the bridges, so that's my concern as we go through the
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next 12 to 24 hours, the temperatures will drop significantly to almost record low levels, not only for the northeast but across the great lakes and the midwest where we have temperatures in the single digits, below zero and windchills in the minus 25, minus 30-degree range, so this is very dangerous, the cold air hanging on not only today but throughout much of the workweek, we have high freeze advisories, windchill warnings for a lot of areas stretching as far south as central plains, you look at houston, texas, temperatures in 40's, upper midwest we would be dealing with record cold air, as far south as the gulf coast, so this system will move offshore and if i could also mention the warmer sector of the storm, maria, but over 90 reports of tornadoes yesterday and many deaths across portions of alabama and georgia, that's another story we mr. continue to follow throughout the day.
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maria: gets worst because the temperatures go lower and that creates ice, right? janice: absolutely, next couple of days will be crucial, try not to travel on the slippery roadways. maria: janice, thank you, quick break and evolution of health care, largest private health marketplace allowing users to compare plans before buying, exclusive interview with scott is next with expedia, i saved when i added a hotel to our flight. so even when she grows up, she'll never outgrow the memory of our adventure. unlock savings when you add select hotels to your existing trip. only with expedia.
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maria: welcome back, evolution of health care, e-health, largest provider for health insurance, purchase and enroll in coverage, both on web and over the phone, joining us right
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now exclusive interview scott, great to see you, thanks so much for joining us. >> thanks, maria. maria: let's talk about where the business is right now, as i was saying during the break, great idea to have all insurance plans to have in front of you to compare and contrast. >> what we are trying to do is make it as easy to buy health insurance as it is to buy airline ticket. maria: you started on medicare, that's how you transition the business a bit, tell us about that? this is relatively new. >> it was just helping individuals and families get individual insurance plan and then with obamacare the business got crushed and it was really disrupted so we pivoted to medicare and seniors need our health care even more than people in other market. dagen: advantage plans, is that where you're most active or even the drug plans to price out the drug options? >> well, you already know about
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medicare than most people because it's confusing. dagen: i have two parents who are -- they are big consumers of medicare, shall we say, but go ahead. >> do you help them select their plans? dagen: we talked about it, when i don't make decisions they run into hurdle. >> i think it's very important that we get into the right plan because the difference between being in the right plan and wrong plan is thousands of dollars for seniors and if they don't get the right drug covered by plan it becomes unaffordable. what we do is try to help decide, give them advice, recommendations, medicare advantage plan or medicare supplement plan, do you need a part d, pdp drug plan, a lot of acronyms and confusing for seniors and the highest consequential decision they make and they need to make it every year because the plans what they cover every single year.
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dagen: how do you get compensated? >> we get paid by the health insurance carrier, the consumer pays the same amount whether they buy through a broker which is what we are or buy through insurance carrier. maria: the stock reacted through the performance, you posted earnings an beat expectations on revenue, what's driving business right now? >> it all comes down are you helping consumers and we grew our medical enrollment 64% in the fourth quarter which is satisfying because it means we help hundreds and hundreds of thousand of seniors get into the right medicare plan and that's the simple thing we do. maria: love it. >> i want to go back to something you said earlier, annual decisions, i think the average senior probably doesn't realize they made a decision 4 years, they are not stuck with that, maybe you can educate the audience about how often the renewals come up.
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>> right, every senior should review their plan every single year because two things happen, one, their medications change every year, maybe seeing a new specialist that's not covered by the previous plan, that's one, number 2, the plans change, they widen and narrow their network of doctors and what medications are covered every single year. i didn't understand this until we really dug into it just how important it is to do it annual rate check and plan check for medicare beneficiaries. >> survey over january and february of this year, only 6% said they were dissatisfied with medicare coverage but also in survey points of concern about the future of medicare, tell me a little bit about that. >> beautiful question because the sound bite of medicare for all is giving a lot of attention on certain channels, a pleat -- complete fantasy. the biggest concerns that senior has, 80% do not believe medicare
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will not be around for another generation. that's an entitlement that's been earned from paying in. medicaid is something that's given to people often who don't work and so the emotion in the senior community around medicare is very defensive. dagen: do they understand that the medicare for all plan pushed by bernie sanders that was introduced and cosponsored and endorsed by the likes of cory booker, kirsten gillibrand, kamala harris, elizabeth warren it does away with medicare, it actually abolishes and outlaws private insurance in the country, do they understand that? >> no, but you're absolutely right. this is what we would go to, we would go from a system of choice where you can buy in to a multiple of different selections to one mandated dictated plan and so if you think health care costs a lot now, wait until it's a monopoly, seniors get it, the
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reason this an important question in the survey is for 81% of seniors in a broad-base survey to align on one point of view which is that medicare is not stable, they are afraid of it, they don't want it tampered with. medicare for all will -- maria: are you doing anything in terms of your business with these plans out there looming, are you going to have to make changes in your business should something like this materialize? >> look, the reality of is medicare for more which is the way, 65 to 62, that would be good for us. maria: scott, great to have you on the program. thank you so much. be back in a minute jones! hey carl, what are you charging me for online equity trades? [nervous laughter] and do i get my fees back if i'm not happy?
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maria: wag. good monday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is monday, march 4th. your top stories right now. closing in on a deal, the u.s. and china reportedly in the final stages of reaching a trade agreement. what's on the table, plus the latest on the threat from huawei as they reportedly threaten to sue the united states now. markets are higher on news of the possible deal between u.s. and china. dow industrials up 74 points on futures, across the board gains, s&p 500 up 7 and-a-half. this after gains across the board on friday. checking the markets friday, dow industrials up 110 points, s&p was up 19 and the nasdaq up 62.
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global markets look like this, european indices higher across the board, fq100 up 38 points, cac in paris up 31 and dax index higher by 24 points. in asia markets were mostly higher. take a look at the action overnight with the nikkei average and the shanghai composite the performer -- best performers. amazon expanding their grocery plans. and nick foles reportedly heading south. we'll tell you where he'll be calling home, coming up. then this, bryce harper breaking another record after his massive contract, he's now topping the list for jersey sales. a new robot meanwhile is going viral. m.i.t.'s mini cheetah can do back flips. the robots keep on coming. all those stories coming up this morning. first, our top story this hour at 7:00 a.m. on the east coast,
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securing a deal, the u.s. and china appear to be closing in on a trade agreement. beijing would pledge to lower tariffs on u.s. imports as part of the deal, and buy more american products. it comes amid turmoil with chinese tech telecom giant, huawei. the new york times is reporting that huawei is looking to sue the u.s. government for banning the use of its products. on friday, i spoke with huawei technology's chief security officer, andy purdee. he weighed in on the threat of global intellectual property. >> on the theft of intellectual property by the china government. that's not us i applaud the efforts of the united states and others to try to crack down on the global theft o of intellectl property. i'm glad to he see president trump raising that as an important issue. maria: joining me right now is
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house minority leader kevin mccarthy to weigh in on all of the above. thanks so much for being here this morning. what's your thoughts on what a deal with china would look like now that we see huawei pushing back. president trump said we may have to do an executive order to ban huawei technology in the country. what's your thoughts on what's happening? >> there's a lot of things huawei has done wrong. one is selling to iran while we had sanctions. that's one of the biggest problems. business that's are based in china, created from china, have a communist party inside. huawei has components that electronically are involved in so many apparatuses throughout the world, so they can extract data going across. one thing that china likes to do is go into countries and say give it as lower discount, but it's still a part of the government. and we have found, as other companies around the world, what has been stolen through the
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decades, the technology knowledge that has been so stoln for so long -- didn't matter they've gone after government secrets, but they've gone after individual businesses and stole so much. i clay i china is at a different today. we should have done this 15 2-rbgs 0 years ago. all the innovation we've made in america, they've never made the investment in it. they've stolen it from us. maria: i wonder if he's going to do a trade deal and allow this stuff to continue. do you think that any trade deal has to also touch on i.p. theft, has to also touch on this forced transfer of technology? >> it does. but the most important -- maria: not just about china buying more stuff. >> no, it's not. china will try to buy more ag products which is important but it's not the end result.
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we have to protect the intellectual property to stay ahead of everybody else. how can we enforce it? they do not have the rule of law. how do we make sure if we win the i.p. argument, how do we protect that going forward? i believe china is at point they'll want to do this. their economy is changing. there are certain things they're doing quite well in china that concerns me better than america. so as they innovate more, they're going to want to protect their own property as well. maria: that's true. do you we will gate u.s./china trade deal? >> sure seems were at that point. maria: you spoke to the president about it? >> i talked to him yesterday too. you know what amazes me? this man almost never sleeps. he's negotiating in vietnam about north korea denuclearization, coming across, back to america, going in, giving a two hour speech, then i'm talking to him on the phone for quite some time about all different topics. the energy that he has to try to win on every single item --
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maria: he tweeted out i think it was this morning or yesterday that it was a disgrace that while he was negotiating with kim jong un, the michael cohen testimony was going on. you had a few things to say about that as well. what do you think came out of that michael cohen testimony last week? >> first of all, he's right about this. there has always been, regardless of whether you're republican or democrat, politics in at the water's edge. what that means is, if the president is overseas, we act as one. we don't do this partisan items. think about what happened last week. you reported 2.6% growth when people thought 2.2. here we have an economy growing stronger than we thought. maria: right, the gdp. >> we have the president overseas negotiating the reduction or the elimination of nuclear weapons with north korea on exact same day they bring somebody in who is going to jail, who wants to do a book or movie deal, who it's a personal vein p deatvendetta against then
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president, this is what they put on world stable while he's negotiating. never before have we seen this in our politics in america. they dislike this president so much, they would go the hatred over the love of the country which i thought was wrong on all fronts. maria: yew bee.maria: you've g about adam schiff who says we're going to look at the president's taxes, look at his business deals, building in moscow. how do you deal with this? you're party doesn't have the subpoena power. tell me how things have changed and what you're looking to accomplish. >> things have changed. not just being in the minority, adam schiff is chair of the intel committee. maria: right. >> adam schiff has laid out so many of his own standards for everybody else across congress, whether they can sustain and be in charge of something. what we p found about adam schiff, one, he met in as pen
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with glen simpson, the co-owner of fusion gps. nellie orr worked where her husband worked at the justice department. at the same time he was meeting with glen simpson, he was still -- glen simpson was being the interest inside the intel committee, believed he did not tell the truth or his statements were different than other statements so they want to relook at him. now we find out in the cohen investigation that, yeah, he was talking to cohen. he, his staff, somebody, we asked this question of cohen and cohen said that. that didn't happen before. maria: they were coaching him? >> yes. but the other thing we found out too is remember when we tried to find out who paid for the dossier. it was schiff who found, we had to go to court. these are questionses we have to get answered. in schiff's own standards on whether he should recuse himself, he has met that standard. he should step back from any
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investigation inside the intel committee when it comes to investigating the president. maria: has he responded to your calls for him to step down and recuse himself. >> he got asked this on cbs yesterday. i think we probably hit a cord here. adam schiff laid the standard out for every other member of congress of whether somebody can trust any investigation they do, based upon their actions. based upon his actions now, he has surpassed his own standards and he should step back from any investigation of the president of leading it. maria: we've got judge napolitano coming up. i want to ask his thoughts on that. i want to bring you in on that as well. does $22 trillion mean anything to you? the u.s. officially hitting the debt ceiling, topping a record of $22 trillion, up from when president trump first took off in january 2017. what is your plan to tackle this? >> first of all, this is the greatest threat to america.
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every great society collapsed when they over-extend themselves. what the challenge is, you say it started with the president, this is money that had been spent already or promised already. the real challenge we have to this country, one thing we have done well in the last two years, you had to get growth up. you've got to curtail the spending at the same time you're getting growth going you've got growth going, that's for sure. >> there's two types of spending, discretionary and mandatory. discretionary we have caps on. discretionary we spent less than the last time democrats were in the majority until now. when i handed nancy pelosi the gavel, we were spending less than when we won the gavel. it's the mandatory spending, medicare, medicaid, social security, if the interest rate moves up, that will be an unbelievable break. we could spend more on the interest than we do on the
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military. >> maya mcginnis, see said there's consequences of this growing debt. watch what she said. >> we are on an unsustainable path where the debt relative to the economy is the highest it's ever been, other than just after world war ii and more troubling is that it's growing faster and faster every year, faster than the economy. this is happening at a time when the economy is so strong which is exactly when you would expect your debt situation to be getting under control. so much of it is self-imposed. if you look at this year's budget deficit, 60% is from new legislation passed in the past four years or so. maria: as interest rates rise the interest on the debt is rising and you're predicting it's going to be $1 billion a day. >> yeah, the interest is the fastest growing part of the budget and by 2025, we will spend more on interest than on defense. that is not a recipe for a country or an economy that will stay strong. maria: but it's hard to tackle
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it because of what you said, it's the entitlements, also it's the spending. can you identify any areas where we could pull in on spending? >> i think you could find spending savings in everything you do. but one of the challenges that i have the most problem with, we came close to making an entitlement reforms, one of the biggest abilities to maintain something but have it in the future. when we came one vote short of repealing obamacare, that was a problem. even if you shut down government, the mandatory spending goes on, going forward. that's why both parties need to come together. wwe had at one time that commission moving, thinking we would do it. we need to put both sides together and make this number one issue going forward. we have never been this
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percentage outside of trying to save the world during world war ii. maria: the markets don't care. feels like the markets don't react. >> i think the world markets don't react. look at what happened in europe where they have zero negative rates going forward. once you start paying more in interest than you do in anything else, think about what that's crowding out. think about the opportunity it's taking away for the children of the future. if you want the next century to be america's, this is the number one threat we have to this country. maria: we're going to take a short break on that note. kevin mccarthy staying with us for the hour. thank you for joining us this morning. up next, the power of amazon, taking on gruelsly stores and the -- grocery stores and the beauty aisle as well, a robot goes viral, m.i.t.'s mini key a take can do back -- mini cheetah can do back flips. back in a moment with that. ♪
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maria: welcome back. british prime minister theresa may unveils a new plan to win support for her deal to exit the e.u. cheryl casone headlines now. cheryl: theresa may offering more than $2 billion to help boost economic growth in towns that support the u.k.'s exit from the european union. critics are accusing her of bribing labor party lawmakers to back her plan. she says the parliament will get to vote on a revised deal by march 12th. britain is set to leave the e.u. by the end of the month. a lot could change between now and then. gymboree and its brands may get a second life. the company filed for bankruptcy back in january. now the children's place and gap are swooping in to pick up the pieces. children's place is reportedly going to buy the gymboree and crazy 8's brand. gap is going to acquire the janey and jack brand. the deal needs court approval.
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gap's move to buy janey and jack follows the big announcement last week, they plan to spin off old navy into a separate company. it is a busy week for retail companies, target, kohl's and ross will release quarterly results tomorrow followed by dollar tree, kroger and costco coming out later this week. amazon is putting more pressure on grocers. they're targeting beauty products. the wall street journal says amazon plans to launch urban grocery stores that sell beauty products alongside food. that could be a direct threat to current leaders like kroger, walmart and target. beauty products offer higher margins for supermarkets. amazon's also looking to open their first urban stores in major cities by the end of the year. i think i told you this before. you go to super target, you can walk out with champagne, face cream, cat food, it's a rocking friday night. maria: it's been a big week for
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retail. earnings are better than expected for the most part. kevin mccarthy is with us. what can you tell us about keeping the growth growing. you were talking about tax cuts 2.0 for a little while. is that off the table at this point? how do you keep the growth going? >> it would be smart to come back with 2.0. inside congress today, seems like the thing the democrats want to do is, investigate the president and his family. we have to get the appropriations process going. trying to get them all t together is more difficult than i found it would be in a short time period. dagen: you have democrats who seem to be rooting for the economy to fail, that's kind of the message they will find something small, rather than looking at the big picture of where we were as a country, faster growth last year compared to the prior, given we're 10 years into the expansion. they seem to be rooting for this country to fail in some way. i wonder if that will bite them
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in the you know what. maria: that's what i think, in 2020. >> i put out a video of a democrat reading through the statistics of what's happening, he said the economy at the highest level, unemployment for african americans, then she starts going blah, blah, blah, blah, blacks. mariablah.maria: nancy pelosi ? >> it was a congresswoman, she said blah, blah, blah, blah, because all these marks were so high. it goes to this underlying -- it's one thread that goes through everything. they dislike the president on such a personal level, they would rather have the country fail and it's a amazing. because remember, not one of them voted for that tax bill. maria: that's right. >> they wanted to but pelosi wouldn't let them. she said it's all political, don't vote for it so we can run against it whavmen. we're 116 months into this, come june it would be a new record if we maintain it going forward. maria: when we come back, the
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dossier controversy, michael cohen disputes a key aspect of the steele dossier in his testimony. the legal implication, after this. nick foles takes his talent south while new philly bryce harper's jersey is flying off the shelves, all that in sports coming up. back in a minute.
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maria: welcome back. president trump going after his former lawyer michael cohen after testimony on capitol hill last week. in that testimony, cohen refuted a key part of the steele dossier which helped launch the russia investigation when he said he had never been to prague or even the czech republic. on sunday morning futures i spoke with devin new necessar nt his reaction to cohen's admission. he said he was never in prague and isn't it true that in the dossier, the dossiered said he went to prague to go meet with
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russian officials to meddle into the u.s. election. >> this is why they don't want him outside. they want him behind closed doors so we can't talk about the testimony. the bottom line is that cohen was great for republicans, it was great president trump because we know that the dossier was total bunk. there was no truth to it. maria: joining us right now is fox news senior judicial analyst, judge andrew napolitano. your reaction? >> i think congressman nunes' problem is with fisa and the ease with which information can be brought to fisa. i've been a long-time opponent of it. it lowered the standard for issuing search warrants. fbi agents have become seduced by it. get an easy, let's call it national security search warrant from fisa. we couldn't get one from a regular federal judge because we don't have a probable cause of crime once we start investigating, we'll transform it into a criminal
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investigation. this is the one where the victim was the president of the united states and the fbi got caught with its pants down. maria: that's right. >> how do we resolve this? i've had a beef with congressman nunes because he was aware of these fisa violations at the staple time the house was voting to reinstate fisa and he didn't bring these violations to the. maria: nunes said he wants to redo the fisa laws, he said that's one of the things congress has to do. >> the important thing is about cohen's hearing. this whole mueller investigation is based upon saying that there's collusion between russia and the president. that was all the foundation of that was saying that cohen went to prague to meet the russians. that's the foundation of the whole mueller investigation. the democrat democrat bring coh. he says in this one point, i've i've never been there.
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>> i agree with the facts as congressman mccarthy has outlined them. as you know, we're talking about this during the break, these things are as much political as they are legal and they take on a life of their own. so -- >> it's all political. >> so jerry nadler wants to subpoena everybody under the sun. he must believe that his base wants this. he's not going to do what he thinks will harm himself or harm the democrats politically. they want to investigate. maria: it's not true. two members of congress are warning the new attorney general, william barr of compromise within the mueller probe. jim jordan and mark meadows sent a letter to bill barr questioning the independence of two members of the mueller team. they write they were part of a small group of justice department officials communicating with then associate attorney general bruce orr about the anti-trump dossier information collected by an fbi
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source, christopher wray. they were working in the doj, involved if the dossier and now wiseman's number two behind mueller in the special probe. is that a conflict of interest? >> no, it happens all the time. they com compartmentalize. what do you think? >> nellie orr works for fusion gps. now you have adam schiff who met with glen simpson in aspen but didn't convey that. we now find that schiff also talked to cohen before this investigation which if you ask devin, he never did anything like that. maria: were they coaching him? >> you had democrats with the republicans. >> i don't think that these hearings and congressman p mccarthy is more familiar than i am, occur without some
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interrogation, usually by staff. certainly cohen didn't come in there without elija he'll lie . >> you have a republican staff asking him questions and democratic staff asking him questions in private? etch trying to get information out of him, feeding what they get to their respective members and those members use that information in public to make -- to score political points. the one good thing about this was, it was in public. it wasp open. we can all judge for ourselves whether michael cohen believable or not. when these thing are in secret we don't know. we get the adam schiff version and devin nunes version. >> there is nothing that cohen is saying in the intel committee that is top secret. >> i don't know what cohen could tell them about intel, he's not an intel person, he's not involved in national security. maria: he doesn't have classified information. >> right. it should be public. >> exactly. >> whatever you think of cohen,
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he helped trump p, he hurt trump, he's believable, not believable, you can form your own judgment on the basis of observing him. >> this is a man that during the meetings he's not opposed to doing a book deal, movie deal. i don't think anyone would hire this man. he's going to jail for lying. he lied in almost every aspect of his life and democrats make this their very first big hearing, who they want to bring in. dagen: he could be a consultant if they're doing a sequel to the grifters maybe. [ laughter ] maria: coming up, the trump economy, i'll be speaking with kevin hassett on the state of the economy as investors watch a potential u.s./china grade deal. and bryce harper's jersey flying off the shelves and he heads south. story coming up.
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maria: welcome back. good monday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is monday, march 4th. your top stories right now. the u.s. and china close to a trade deal, this coming weeks ahead of a meeting with president trump and china's xi jinping. there is a threat from huawei telecom now, the telecom giant reportedly is watching the u.s. and getting set to sue the u.s.
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and canada. futures are pointing higher this morning on news of a possible deal. markets are expected to open up, 87 points on the dow l industrial, s&p futures are up 8 points, nasdaq futures up 35 right now, this after gains across the board on friday. the dow jones industrial average picked up 110 points, the s&p 500 was up 19, the nasdaq was up 62 on friday. global markets this morning look like this. european indices higher across the board. fq100 up 55 points, cac in paris up 35 and the dax index higher by 28. in asia markets finished mostly higher. the best performer was china, shanghai up better than 1%. m.i.t. shows off its new edition to the other robots on the market, a mini cheetah that does back flips. and it's been a busy week for philadelphia's sports. nick foles reportedly has a new team and new philly's star bryce harper breaks records.
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all the details coming up later this hour. our top story this half hour, the u.s. and china reportedly closing in on a trade agreement. as part of the deal, beijing would pledge to lower tariffs on u.s. imports and buy more american products. goldman sachs is making a prediction saying the u.s. is likely to come to a deal when presidents trump and xi meet later this morning. they do see tariffs staying in place. joining me right now is chairman kevin hassett. thanks for being here. welcome. let me ask you about the china/u.s. deal. i know you're not going to get ahead of the president in terms of coming out with specifics on the deal. the chinese economy has been weakening. that has impacted our economy. do you expect a deal to include more than just china buying stuff? this issue of huawei, this issue of espionage and i.p. theft has been really become front and center, kevin. >> again, i'm an economist. i'm not going to get into law
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enforcement issue. i can say as ustr they've got a massive team of people, mostly trade lawyers. they have a big trade team at treasury. those folks are working really, really hard to deliver a deal that's north of 100 pages, filled with nuances and details and i think everybody's hopeful as markets are that this is going to get to the finish line sometime soon. but for me, i kind of feel a little bit like the groom who shouldn't look at the bride the day of the wedding. we're very, very close. it's true that the lawyers are working things out. as an economist, if i say something, i might get an adjective wrong and cause them an extra three hours work. maria: the chinese economy has been weakening, i think partly because of this uncertainty over tariffs. if we were to get a deal between the u.s. and china, would that impact u.s. growth as well? would that impact the chinese economy and thus the u.s. economy? is that something you would look to your models? >> yeah, absolutely. i think that a deal, a favorable
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deal would be very good for the chinese economy. i think right now there's been almost a freeze on capital spending over there, because people are worried that maybe there's not going to be a deal. i think if we open up a chinese markets to u.s. firms, u.s. farmers, to natural gas producers, and people with intellectual property they didn't move over there because they're worried it might get stolen, there would be a massive amount of new business. if we open it up to the u.s., that's really good fuse for us as well. i think that in the end when you get trade right it's great for everybody. president trump's a trade reformer because the deals that he inherited when he came into office weren't treating american firms fairly. i think it looks like ambassador saambassador lighthizer made a lot of progress. maria: growth and the economy, the atlanta federal reserve on friday issued the gdp forecast for the first quarter, it's 3/10 of a percent. what was your reaction to this? i know this changes a lot by the way. they'll probably revise it.
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3/10 of a percent not great for the first quarter. >> right. well, there are two things going on. first, we started the quarter out with 300,000 jobs number, north of 300,000 and most of the time when you do that you end up with a 3% quarter. we're going to get jobs again this week. if we get another really big number, we'll have a lot of confidence that something as low as 3/10 isn't going to happen. the first quarter tends to be about 1% below the average for the year. so if we think as we do at the white house that we're going to have about a 3% year, right now if you want me to put a number on the table i'd say it's probably going to be 2% physician quarter. maria: is that largely because of the shutdown or what happened in the first quarter? >> it's because of seasonality. they don't seasonally adjust the data correctly in one. it's a weird technical thing. we could go to the blackboard. maria: the first quarter, obviously a lot slower than what we saw in the fourth quarter. we got the gdp numbers for the fourth quarter last week.
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they were better than expected. what i pulled out of the gdp report last week was the cap expendinexpend -- cap ex spen. a lot of people worried that things stopped around the uncertainty with tariffs. you saw strong cap ex numbers, in particular spending on information technology, up 13%, kevin. what can you tell us about that, about cap ex spending and your expectations for the year? >> last year our exec says for cap ex spending it would be up about 9%. it was up about 9 9%. i think this year we expect something a little less than that, but we're going to get plenty of output because all of the machines we bought and factories we built last year will produce output this year. we're bullish about this year, looking at about a 3.2% year. we expect the first quarter will be in the 2's. after that it will bounce back. one of the reasons we're
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confident is if you look at the capital spending boom, those things tend to have legs. like if you're going to build a new plant, you've got to start to fill it with lots of machines. right now we're seeing the new plants and the start of the new machines but that usually has like a three to five year period really when the capital spending boom starts off. i think we're looking at another 3% year. maria: you're talking about 3.2% economic growth for 2019. you're not talking about 2018. you're talking about 2019. >> that's right. maria: what about consumer spending? the consumer spending number was pretty good, 2.6% or two and change on consumer spending within the gdp report. how would you characterize the consumer right now? >> i think basically what's going on is the consumer is seeing their incomes go up a lot because of the tax cuts, because of deregulation and so on. they're not -- they're plugging along. in the past sometimes you have seen strong 3% growth and there would be lots of people borrowing to the max on their
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credit cards, housing prices skyrocketing and people borrowing against their houses. that would give us pause. rights now, that's not what we're seeing. we're seeing people spend what they earn, a little bit less. savings rate is pretty seasonable and savings is funding an investment boom. it's hard to think of a sweeter spot for the economy to be in. maria: thanks so much. we'll talk more, kevin hassett joining us as the white house. technology in focus, dig l tall tax on internet giants could bring in hundreds of millions of dollars. we'll talk about that, next. the rise of the robots, m.i.t.'s mini cheetah can do back flips, more on the viral video, right here. ♪ here's to the farmers that plants the fields and the springs that turn to green. ♪ pour one up for the bankers downtown that got him on his feet.
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maria: welcome back. the rise of the robots, cheryl casone with details on m.i.t.'s amazing mini cheetah. cheryl: i love watching the video they provide. this is m.i.t.'s cheetah's robot new side kick, the mini cheetah. this is the first four legged robot to do a back flip, ever. at only only 20 pounds, it walks right side up or upside down. they are building 10 more mini
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cheetahs. like a small dog. france's finance minister says a 3% tax on the french revenue, of big internet companies, could yield $570 million per year. french government is targeting many american companies that include google, amazon and facebook. the finance minister says digital giants pay about 15% less tax than smaller european companies. he plans to present a draft law to the parliament later this week. there's one way to get revenue into the coffers in france. maria: we've got kevin mccarthy here the whole hour. you've been at the forefront of the conversation of big tech having too much power. you p brought a number of ceos to testify. i want to let you hear what congressman devin nunes told me yesterday about this. >> . you're saying you're going to deal with the misinformation out there. how do you deal with that? you referred to them in the past
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aztec oligarchs to me. >> there's two ways they're doing this. the fake news media, they're putting out fake news stories. sometimes it comes from the democrats, the media runs the story. then the numerous tech companies out there that are really controlling what all americans see, right, so what these tech companies have become is they try to pretend they're not, but they're content developers. they're developing content, okay, through two ways. one, algorithms so they control what you and i see when we get on our device. for them to say they're not developing content is nonsense. they're monday advertising -- monetizing this. there's some people that will not get rewarded. if you're a conservative out there, putting conservative videos together you're not going to get money for that. people are not going to advertise on that. maria: right. >> all this has got to be dealt with, i think, in the future. maria: how do you deal with it, congressman? >> well, he's 100% correct. the first part that we did last year, why bring them in?
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raise the attention, right, because you heard so much with twitter. with google, 95% of all searches on the internet go through grew google. if you go to the second page of information, 90% drops off. they questio give you a query, e you four options. if you put something negative in one of those four, it will be the first thing you go to. they control what we're seeing in the manner of what they're delivering and we found in politics an algorithms written by humans, we find what they're saying, they're crying because hillary lost, they're running programs trying to get more people out to vote for hillary in the process, they say that the california republican party is based on naziism, right. is these things that they can do that influence and they're using their own politics of their employees to influence what we see and know. and this is a very disturbing to me. that's why brought them before
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the committees to make sure this type of activity stops but it's prevalent throughout of whatever you do, from a amazon has this program where they give nonprofit money somewhere. they have one entity that helps fight civil liberties in the supreme court. they no longer have that entity that we can contribute to. you know. because of southern poverty law firm said that is somehow biased in the process. that is a concern to me, that our views are not being able to be expressed freely throughout. maria: yeah. >> one of the things, if you google image something, not just the words that show up, if you pick image or you pick video, thea algorithms drive you to a certain outcome. it's really incredible how much decision making is driven by what google tells us. >> the influence of it. maria: are you ready to bring -- what are you going to do about this? zing we should have more
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hearings before we craft legislation because we want to make sure we get it right. but this is where companies should come and start changing their ways before washington. maria: quick break, setting more records in philly, bryce harper's news, next. to be noboda world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪ it's the most wonderful life on earth. ♪ ♪ my dream car. it's the most wonderful life on earth. it turns out, they want me to start next month. she can stay with you to finish her senior year. things will be tight but, we can make this work. ♪ now...
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maria: welcome back. looks like the jacksonville jaguars may have a new quarterback. jared max with the story in sports. >> sports fans in philadelphia scored a bryce harper last week. mvp nick foles will reportedly sign a multiyear contract with the jacksonville jaguars. foles wanted to escape the shadow of being understudy in philadelphia, reportedly he will unseat blake bordles who is expected to get released by jacksonville, along with a
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guaranteed contract. foles' deal can become official late next week. bryce harper's new philly's jersey selling like hot cakes. like philly cheesesteaks wrapped in hot cakes. did you know bryce harper's philly's jersey, number one selling jersey of all time in any sport for any player during the first 24 hours of a launch. increase of 5,000% in sales of philly's merchandise compared to the same 24 hour period last year and ticket sales are booming. bryce will play the first exhibition game on saturday and he'll wear the number 3. he gave up 34 to honor the late holiday. maria: thanks, jared. catch sports reports on fox news headlines 24/7 or sirius xm 115. kevin mccarthy is with us this morning. i know you are here for another few minutes before you depart. let's talk about the 2020 field. what's your take on what it will look like? who do you think is best
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positioned to take on the president on the democratic side? >> i think the president wins regardless first of all, especially based upon the economy, doing what he said he would do. i don't know where the field is going to end up. remember, the democrats having different. they moved up from the california primary to march and took away the super delegates, that probably hillary wouldn't have won if she didn't have them last time. the nominee will be probably more progressive and the new democratic party is a socialist democratic party. they want to take over your healthcare, want to take over your house, by the new green deal and everything else. i think a socialist is going to come out at the end of the day. maria: we will leave it there. kevin mccarthy, good to have you this morning. thank you so much. we'll be right back. .
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maria: welcome back. good monday morning. thanks so much for joining us. i am maria bartiromo. monday march 4. top stories 8:00 east coast cloves in on deal u.s.-china reportedly in final stages reaching grade agreement market higher on news of a possible deal futures kaith again start of trading up 75 poinltsdz dow jones industrial average 8 points higher s&p, nasdaq up 34 on top of gains across the board friday take a look at markets there dow industrials up 110 points s&p up 19 nasdaq up 62 points on friday, global markets this morning are firmr european indices higher across the board ft 100 up 56 cac quarante -- dax up 23 in asia
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with the exception of korea down a fraction are extreme weather you are taking up to tough weather from deadly tornados to avalanche latest right here retail earnings rolling on the big ones to watch today target, kohl's coulds coa preview another democrat throws his hat into 2020 resigni 220 ring joining m it down dagen mcdowell, mitch roschelle washington examiner columnist. >> great to see you. thank you for joining us. >> a busy -- it was a really busy week last week of data, and that is where markets behaving the way it is i am really confident if you listened to some of the politicians you would think nupz were all of this is good economic data out there. >> gdp number was up 2.6% really my take away capex? putting money to work in terms
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of i.t. information technology all that 13% gain, within that number, capex. >> important. >> also the headlined numbers seem disappointing dig deeper great stories i said ownership right from multi-year high good data out there, and i think too many people rooting against it. maria: we are covering it i don't hear it will anywhere else. dagen: people on left rooting for a recession i think this he mother that is they know one thing in way of president trump's reelection 2020 jobs' report out on friday. coming off the -- previous month's jobs 304,000 jobs added in january a, 4% unemployment rate expected to get below 200,000 for the month again, with -- the average job growth, actually picking up steam, the economy growing faster last year than the year prior given 10 years
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into this economic. >> 120 months where is record about to eclipse it do you think these numbers is the reason the president's approval rating is climbing here is what your take. >> i think a big part the president's job approval according to nbc/wall street journal polling from past weekend 46%, close to highs for him that is almost the numbers when he first started in office at honeymoon period gallup asking for decades do you think next year better or worse off than today 69% think even better off next year there are a lot of economic optimism out there doesn't mean everything perfect middle class have cost of living concerns, concerns about economic inequality but personal level people in u.s. mostly feeling okay. maria: i do believe democrats trying to take a hatchet to some of them chip awaive at it, basically hammer people down and make them feel in a way about the economy that they don't right now. >> one uncertainty may go away top story this is u.s.-china
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trade, the two countries reportedly closer to a deal as huawei prepares to sue u.s. government according to, no times, blake burman covering all this at the white house very latest blake good morning to you. reporter: good morning to you heading into weekend president trump asked chinese remove all tariffs on u.s. grig products a potential deal between u.s. and china could be coming around the corner moments ago the president top economist kevin hassett he echoing the optimism among members of president trump's trade team saying a deal could be within reach fairly soon. >> most of us working really, really hard, to deliver a deal that you know way north of a hundred pages nuances details i think everyone is hopefully as markets are this is going to get to the finish line sometime soon. reporter: now over the weekend at cpac gathering in washington president said if it wasn't for tariffs u.s. wouldn't be in position it is in to possibly strike deal according to "the wall street journal," the u.s. and china are closing in on a trade
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deal, it would include china buying more products from uask and lowering tariffs on u.s. autos china would get tariff relief as well the president from over the weekend. >> i know there are people in this republican party and people really even conservatives good conservatives don't like tariffs, i am not liking or not liking. the minimum the greatest negotiating tool in the history of our country. >> greatest negotiating tool in history of country president says among a fluid item many fluid item one exactly with president trump andp subsidy meet at mar-a-lago end of month targeted it is very clear nothing on that end has been completely firmed up, just yet. >>. maria: blank thank you so much important we will be watching that blake burman joining plea alliance chief economic advisory mohamed el-erian a pleasure to see you. thank you for joining us chinese economy slowed down as a result of all this tariff
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worries tell your thoughts what they are doing now to try to stimulate. >> basically, everything that going to stick requirements, directed more lending and now, the reports coming out of opening next few days going to hear a major tax cut reduce value-added tax, up to 3 percentage points so good news is chinese are trying to utmost to stimulate economy, but reality is that these policies are proving less effective than they have in the past. maria: tariffs are hurting i mean the chinese want a deal with u.s., but, you know, we factual a lot about china economic aggression but military aggression, and there is also, worries about the theft ip theft iffied transfer of technology do you crumple those issues parted of the deal. >> i don't know i think most people judge on three things, one is are chinese hearing about reducing bilateral deficit that is important to the president, number two are they serious about reducing all nontariff barriers there's
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many of them from forced transfer a technology to subsidies to enterprises the fird one intellectual property theft i think three criteria, now if you meet all three don't only get trade deal you also get something consistent with a national security. >> um-hmm. >> if you don't meet all three may get a trade deal people say what about other elements interesting to see what comes out. >> goldman sachs predicting some tariffs stay in place, that the president is likely not going to remove all chairman kevin hassett joined me earlier in the program to talk about the economy, he made some really important foshgz he said we're going to see 3.2% growth for the economy in 2019 here is what he said watch this. >> what i really pulled out of the gdp report last week was the capex spending because all this time talking about businesses putings new money to work a lot of people worried that stopped around the interceptor around
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tariffs, but you saw some pretty strong capex numbers in particular spending on information technology, up 13% kevin what can you tell us about that about capex spending in your expectations for the year. >> well, last year our expectation for capex spending was up smooth equipment intellectual property 9% was up about 9% if you include blockbuster fourth quarter are the 2017 i think this year we and something a little bit less but plenty ofout machines factors last year o producing this year we are very bullish think looking 3.2% year expect maybe first quarter in 2s, but after that bounce right back. maria: that is pretty good 3.2% for 2019 but mohamed, the atlanta fed came out with their first quarter gdp estimate 3/10 of a percent not so good. >> first quarter going to be
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no year unquestionable even kevin said could be as low as 2% there is. >> 2/10. >> many reasons the shutdown we had the spillover from the fourth quarter, and seasonally a bad quarter. >> all good points important points. >> i think forward 3% is obtainable this year what is encouraging you and kevin absolutely right the business investment number last year really good the only thing did he rails this economy is a major problem outside in europe keep an eye on europe, or a fed policy mistake but between the household sector that is bolstered every day by strong labor market and business investment going up it is very difficult to generator a recession in 2019. >> difficult to see recession in '19 what about 2020 i don't see it either would it help a lot if we can get the third
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element of the growth packaging so we had deregulation, we have had the tax reforms if we can get infrastructure in, then we put more gas in the car that has traction, so that is the important thing can we get another pro-growth initiative through, and that remains to about seen. >> very interesting really important point let me ask you about international story, europe we have the chief economic he advisory to citigroup on friday he has a one percent growth number that he is expecting for the eurozone. >> i got below 1%. >> below 1%. >> if he said that four months ago all forecasters were at 2% i said. >> for the year mohamed. >> for the year 2019 i said would be luck to get half as much if you want to understand why, think of europe as a football team your five top players the uk, france, germany, italy, spain all problematic. none of them can implement any pro-growth policy in addition the team as a whole, has no
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teamwork left. so it is very difficult to see them counter the slowdown that is there so already that reduced estimates from 2% to 1.6 as i say lucky to get to 1%. maria: that is interesting does that impact u.s. later this year. >> still looking for a good number in the u.s.. >> still looking fr good number he exports aren't as important as other components of gdp but home in good news we should worry about europe also worry about china i don't think china is out of woods yet there will be headwinds from abroad means that we have to do itmost to keep going to keep growth momentum going. maria: now big week for retail this week earnings, big names taeshth kohl's costco will report this week then the february jobs' report the end of the week, the expectations call for 180,000 jobs added to economy in february, and unemployment rate going down to 3.9% journal says investors are doubt economic growth after a slow start to the
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year. what are your expectations, in all of that and then you've got to talk about the fed pivot weather or not that was the right move. >> first 180,000 this late in cycle big number should be 120 to 140 coming off 300,000 if we get near -- 150,000 i think good my most important focus is labor participation. can this labor market continue to attract more people into labor market? if it does then we will have even more runway for the household, on the fed it was dramatic pivot i think they went too far on the tightening message. >> on autopilot. >> not only they persisted with four rates a lot of people saying three at most, and then we can see. e wait and see they pistedz with autopilot now swung completely other way we have gone to patience, patience,
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patience on rates market has taken this as meaning enforcering this year cut next year auto pilot given to flexibility i think the swings are competence excessive in both directions. >> do you expect fed to raise rates this year is it one or two or non. >> i don't expect them to raise rates this year because of the headwinds but i do think they are going to have major communication issue. that they have o gone too far one way the u.s. economy is too strong, so are as much a dovish message. >> balance sheet runoff done at the end of this year? >> i suspect that is what they are going to say. and that itself, may be problematic for the markets. >> do you worry about markets had a great beginning of the year you want to sell into it or do you think still to put money in stocks. >> i think selective opportunities, i think that we've come almost 20% on the basis of a difference in fed
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message alone fundamentals not changed that had much you want abo about about domestic focus. >> selectivity is key thank you so much. >> mohamed el-erian, coming up extreme weather a brutal snowstorm slams northeast millions facing heavy snow yet you are waking up to a storm, we've got the latest then bad office etiquette a startling study most irritating habits of coworkers what tops the lift? back in a moment. ♪ let's get it started ♪ ♪ limu emu & doug look limu. a civilian buying a new car. let's go.
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through alabama cheryl casone.
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cheryl: the ted leaving path of devastation through eastern alabama, at least 23 people dead including children, countless more missing, this morning. the tornado was one of at least a dozen twisters to touch down in southeast yesterday others wreefking havoc in georgia a snowstorm pounding the east coast overnight shutting down schools major travel problems areas up to a foot of snow, out outages widespread. >> in colorado avalanche barreled down a mountain sided towards the hi. >> got it? >> -- >> [bleep]. >> i think coming down here isn't. >> it nah? is it? >> something else that wall of snow crashed into a creek, a powder cloud on screen near
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may highway nobody was injured in this. >> democrat to field running for president former colorado "good day" john hickenlooper launching his bid 67 years old geologist, he is also served as mayor of he denver before elected colorado governor one not running eric holder former attorney general in obama administration thought to about considered joining the crowded field announced he is not running in "washington post" op-ed, so far here we go, at least 14 democrats said they are running, to unseat president trump. >> let's -- beating uber to -- >> have initial public offering under lyft big year of ipo's uber aisha, pinterest
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expected to go public this year. >> ikea taking do-it-yourself philosophy to a inside level a do it ourselves chocolate bunny for eatery, comes in three pieces to put together like pretty much everything ikea only available in britain now, costs about 4 bucks something i can accomplish do it ourselves back to you. maria: funny -- put it together -- dagen: my favorite time of year easter candy time modality milk ball eggs have minieggs have shimery i don't know those great eye shadow. >> how about -- >> too much sugar. >> hey bring on the spring. come on. >> take a break national emergency outrage fourth
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declaration bash lash list of republicans siding with democrats. >> rick scott with the president what he told me yesterday on "sunday morning futures." >> i am going to vote for border security i am voting with the president, the everybody going to vote on this ought to go to border like i today factual to border patrol one they made to more people two need new technology technology decades old, three, they have got to have barriers
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for operational control if you talk to them there is no way you can then say igoing to vote against border security, the democrats don't want border security american public wants border security, they want results. maria: former congressman author retired lieutenant colonel alan west thanks for joining us. >> good to about with you thank you. >> so what about this the president says going to vote a it looks like it is going to be a pretty good backlash on his emergency declaration. >> well interesting, that you have people that are supposedly our representatives in washington, d.c., don't understand that the most important thing about living in a constitutional republic is protection of sovereign borders your boundaries, when you go down along the border and couple years ago i did a motorcycle ride through big bend sector on borrowed in texas, you can clearly see
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that there are vast soeshths not controlled you seed obstacle to fundamental people where border patrol with an better control that access and entry. >> there are some republicans about 22% most recent nbc/wall street journal pols said they oppose the president taking the action through a national emergency declaration they thigh too much abuse of executive power what would you say to those who say had same concerns during president obama's administration. >> this is not abuse of america presidential power the president takes an oath supposed to defend he american people i give you a case in point a comparative analysis, back when president obama was there he declared that there is a humanitarian cries emergency in libya outsourced military to islamic jihadists look how that ended up when president obama gave state of
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the union said i am willing to do whatever it takes, that was for his agenda this is about the safety security americans i think president trump once again needs to tell all people want to vote against this border security measure him using funds, think about angel memos angel families loved ones lost because we're not doing our job. dagen: it is dagen mcdowell he did highlight that during the state of the union message even but i think that people with the emergency declaration conservatives why wait after shutting the government down? if you are going to do it you should have done it early on, rather than shuting the government down as long as it was closed. >> dagen i absolutely agree with you i will tell you that i believe a with tactical error to sit with senator schumer speaker pelosi say i am willing to shut government down i don't think that was a
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good move for the president but him behind eight ball he should have taken this action to say this is important, this is what the american people want, this is what we're going to do to make it happen. >> congressman mitch roschelle if you think about this issue how it plays out, in the -- the primaries democrats are going to have are they going to most while weaponize this issue make it a talking point because it is really a problem of their making inability to get along with the president on anything from a policy perspective. >> without a doubt going to try but mitch i think this is a very bad issue, for the other side, as a matter of fact comes down to americans versus illegals whose side do you stand upon last week hr8 brought to the floor about background security checks what have you the republicans brought up a motion to reconsider. recommit, talked about how someone that is illegal
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immigrant tries to purchase a weapon should be reported to ice you had democrats voted against that, so in other words, they think that illegal immigrant should be able to purchase a firearm not get reported to ice they are on a the wrong side of the issue i don't think they really want to bring it up into 2020. maria: here we are 20 months away from next presidential election 2020 a new poll shows president's approval rating is climbing, according to you adjourning nbc news poll released yesterday 46% colonel west your reaction to this? >> well i think the president is likely you know, a large massive elephant on getty plains knows every oer animal out there is chasing after him so to have a 46% approval rating every day constantly be denigrated this is incredible i think american people starting to see through that understand that their lives are better. maria: john hickenlooper
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threw his hat in the ring anybody on democrat side you think more poised than others to take on the president in a real way. >> i think democrat party is identity politics look at how many boxes can he check off i believe senator harris right now the person they want on that space to go against president trump because they need to reenergize black vote i think representative robert francis o'rourke may be on ticketed vice president they want to put texas in play. >> we leave it there good to see you this morning. thanks so much, kamala harris -- do we know what her paroles are other than endorsing medicare for all. >> medicare for all plan is -- i think is going to be an albatross for democrats because she essentially went on that town hall on cnn,
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says, you need to do away with private insurance, she are supported even cosponsored bernie sanders bill outlaws privateions in this country might try to move away come up with different policy ideas on health care i hope republicans make them own it because i think it is frightening to literally hundreds several hundred million earns more than 150 mill americans have privateions through administrator they want to get rid of that prices up on reports of trade progress between washington and beijing 56.47 crude oil save the late tesla launching for model. why crossover suv, details back in a minute. into opportunities. it's these unique companies with creative business models that will generate value for our investors.
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that's why i go beyond the numbers.
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>> welcome back. good monday morning thanks for joining us. i'm maria bartiromo. it is monday, march 4 top stories right now 8:35 a.m. east coast u.s.-china close to trade deal this coming weeks ahead of a meeting between the president, and china's xi jinping still a stlaet from huawei telecom, the technology giant reportedly looking to sue the u.s. government, now, for trying to ban huawei products futures pointing to gain start of trading news of possible deal dow industrials up 90 points a third of a percent, s&p 500 up nine points the nasdaq up 40 points one half of a percent higher, white house council chairman
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kevin hassett weighed in how growth might rise a pretty good 2019. >> plenty of output machines factors last year start producing output bullish think 3.2% year, we expect maybe first quarter in 2s, maria: global markets are higher ft 100 up 44 cac quarante up 35 dacs up 25 in asia overnight markets mostly higher china best performer shanghai composite up better than 1%, news of a trade deal driving oil prices, higher this morning, take a look, oil up 1.2% a closer look at oil market this hour, and another countdown for tesla ely musk teasing with tesla launches model y all those monday mornings first top story this half hour trump economy u.s. economy growing at rate of 3.1%, year-over-year that is
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the fastest since 2005, my next guest says the president has declared not one but four wars on u.s. economy joining is former director office of management and budget, author of new book peak trump undrainable swamp fantasy of maga make america great david stockman here good ifs see you you, you are throwing it all on president today you don't like 3.1% growth you don't like 3. % growth. >> i o i don't like trillion dollar deficits tax on fed getting around to normalizing interest rates, and reducing this horrible expansion of balance sheet i don't like a 30 billion dollar tax on american consumers name of tray war can't be won not a deal at end of march we are going to have a deal to have a deal to have a detail going on with milestones enforcement so forth, and i don't like attack
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solvency of the united states 10 years biobusiness cycle sooner or later is going to end no one out loud recessions in won 116 record 119. we've got headwinds from all over the world. >> look at david i mean i understand all the worries that you are bringing up but even with the 22 trillion dollar in debt markets don't seem to care let me remind you this week is ten-year anniversary of the market bottom the market bottomed out in march, 2009 after he worst financial recession in a generation up 300% in that 10 years. >> what markets do said same march 2000 a bad surprise waiting next two years. >> market anticipate what is to come. >> no, no. >> the horizon, markets be acting differently. >> march 2000 said this is different sunny skies ahead nasdaq 100 dropped 83 next two
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years 2007 i remember everybody talking goldilocks before we knew it in biggest crisis they thought we were going down black hole of the 1930s the point is we have a sugar high last year exports, there was one time boost to consumer spending got tax rebate we did it on uncle sam -- >> up 3% -- >> you know, there is argument that the economy is slertdz under trump give me a second i can approprove it hasn't. >> we are looking at numbers the economy has definitely expanded under president trump, you say? >> let me give numbers, first 25 months under trump, 205,000 jobs per month created last 25 mubz under obama, 213,000, i am not -- you know defending obama, or criticizing trump i am saying late in cycle you always get 200,000 jobs until
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it tips into recession then the other way. number two look at real final sales not gdp, because gdp has big inventory swings other aberrations, sales under trump 2.6% for eight quarters he had, 2.5 under last eight quarters of obama real, up 1.8% first two years of trump, up 2.9% under last two years of obama. the economy is scooting along on momentum, at the very end of the cycle -- >> whoa was there a year under president obama we saw economic growth 3%. >> not one calendar year. >> calendar year. dagen: 2005 -- look. >> calendar year. >> you are going to -- if you are going to cherry pick i am goi going to data mine. >> i am not cherry picking year-to-year gain is
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cherry-pick if you take on average two years of average four years average nine quarters there isn't any acceleration. >> 22 trillion-dollar in have department i have been screaming to haevenz rising debt let's have under market and republican pts the market is not worried about it united states can borrow less than 3% a year over 10 years why aren't he professional worrywarts wringing hands about that. >> this market broken a function -- >> what is not a real market? >> because. >> markets in the world -- >> wait a minute the market december was trying to say something bad is around the corner, as a result of the policies i have been describing and then, poue pivoted kapit ladies to keep boys and girls on wall street
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happy but atlated stage to have 2.4% on trade after nine years of being in negative real terms after inflation to have a balance sheet that they are going to stop at 3.6 trillion, that means we monetized two or three trillion debt since crisis if is that real sustainable is that sound policy? absolutely not. so, therefore, the markets have gotten high time after time whenever fed decides to capitulate or pivot or dear, delay, and making the day of rock ong i think all the more traumatic when it comes. >> you have been waiting for this definite reckoning a long time joined us like two years ago before you wrote last book said massive sell-off collapse in market is coming hasn't happened yet. >> it will. dagen: meantime people if follow your advise losing money not participation not owning part of american corporation. >> 300%. >> when you buy stock market
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27, 28, 2900 trump hips said in run-up to election, s&p was 2140 a big fat, ugly bubble he was right there buy at this level your risk is huge, your reward 5% the risk reward is terrible for anybody about who is not a day trader, i am not arguing with day traders. >> unless you are in market 10 years make 300%. >> against when -- >> if you bought in are. >> 09. >> sustainable policy heading into a decade baby boomers retiring social security medicaid soar industrial complex out of control fed no longer monetizing debted. >> any good news. >> i do not? >> [laughter] >> great to see you have a great day, coming up futures pointing to gains this morning investors watching china trade progress stuart varney thinks we could be leaded for a new record will weigh in next up the outlook for oil prices
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higher venezuela's oil experts taking a plunge in the first month after u.s. sanctions we break it will down right here. back in a minute. ♪ ♪ in the country. you see so many people walking around here in their hundreds. so how do you stay financially well for all those extra years? well, you have to start planning as early as possible. we all need to plan, for 18 years or more, of retirement. i don't have a whole lot saved up, but i'm working on it now. i will do whatever i need to do. plan your financial life with prudential. bring your challenges.
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maria: welcome back futures higher this morning expecting a pretty good boning 100 points higher dow industrials futures indicating s&p up 10 points nasdaq up 39 next guest says stars could be aligned
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for a new my joining us host of "varney & company" stuart varney to weigh in good morning, stu. >> maria not going to make a mistake that i made last monday i foolishly said this week going to hit a new high for the dow industrials. i will never do that again. >> come on! >> i like the way things are stacking up i got to say, what cans would not what would stop us hitting a new high i mean if president trump walked away i guess would her at if fr turned around with a brand-new policy of interest rates that would hurt the market, but i don't see either two happening i lever with you this i am not forecasting a new high for this week's i am going to say the steady upward march stock market looks like going to keep going, how about that. >> i like it, we are 10 years away from low, right? up 300% last ten years i know you have a lot more you are speaking with dennis gartman tuning if for that see you 10 minutes "varney & company" top of the hour 9:00 a.m. or an as
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stuart has more of factors and specifics on markets investing today, coming up oil up pike prices hire on news world twos two largest economies near a trade deal tesla model y on fast track the launch date for crossover suv the stock is up back in a minute. ♪ ♪ want more from your entertainment experience?
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welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome.
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maria: welcome back, oil prices up higher u.s.-china closer to trade deal reuters reporting opec working to extended cuts will not come until june meeting joining us
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chief oil analyst, a pleasure to see you, your reaction, to what opec is saying here, is this going to have a big impact. >> oi think they need to cut again probably in second half of the year but they need to maintain the cuts, so right now the oil market is balancing, it is a macroeconomic thing we saw prices flop on friday with the very disappointing manufacturing date so you know every day when oil price goes up it is a vote on the global economy and to a certain extent u.s. economy. >> the president was tweeting last week as before, to oil industry, commenting that they should put right measures in place to prevent oil prices from going up. really pointing fingers at oil rich nations, my question to you are we not an oil rich nation ourselves? and do we also benefit when oil prices go up? >> well, we are mitch in the
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last two weeks, we have exported 70 million barrels of crude oil that is more than we exported from let's say 1945, to you know 2015 incredible those figures are going up as long as supply stays let's say above 50 dollars a barrel or so. >> you had a question on millennials. >> yeah,quick question, i curious with a extent you think younger voters may not necessarily be following oil markets but know how much it costs to fill up their car, for those who are worried about something like climate change, to what extent should they be concerned about low prices on oil meaning more consumption higher prices on oil more expense for them for a millennial about consumer first and foremost worried about cost of living
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secondaryly climate change what should they expect in terms of oil industry next coming years? >> well i think on the cost of living side we are still in a cheap era for gasoline prices and, you know, for their comforts. and i think it will remain in the cheap era until the next decade or so as far as carbon and so forth, we will see what happens, there, i mean, right now millennials and i don't mean to characterize all this way tend to about self absorbed not worried about environmental. >> i disagree with you on that [laughter]. >> well, i am saying as a massive group not as individuals they don't save money, so you know that cost of gasoline and cost of going to a restaurant is a soft necessity for them. >> good to see you thanks so much. >> thanks. >> i know a lot of assumptions in general, millennials, safe the date tesla announcing
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launch date for model y crossover suv. when we come right back. naysayer said no one would subscribe to a car the way they subscribe to movies. we don't follow the naysayers. ♪ ♪
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conventional wisdom says you can't make a 400 horsepower sedan, that's also environmentally conscious. we don't follow conventional wisdom. ♪ ♪ maria: welcome back. elon musk reveals the launch date of the new model y suv. kristina partsinevelos on the floor of the new york stock exchange looking at that. kristina: march 14th, next thursday, they will unveil it in l.a. what do we know about this vehicle thus far? it's the second electric suv crossover, 10% more in cost than the model 3. that's according to elon musk.
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no exact numbers just yet but it's going to be cheaper, then you also have the fact it's going to be made in nevada. that's a big first because they never made a car there and it's slightly less battery range for the car. back to you. maria: kristina, thank you. let's get right to "varney & company." stuart? stuart: good morning, maria. good morning, everyone. the u.s. and china are putting the finishing touches on a trade deal. the broad outlines are in place. "wall street journal" says the deal is in its final stages. they cut tariffs, we cut tariffs. they buy a lot of our stuff, we insist they stop selling -- stealing our technology. they pass a new joint venture law to end forced technology transfers. okay. the easy things taken care of, the hard stuff depends on enforcement. plans are being made for a summit in mar-a-lago. all looks promising. investors like it. ten straight weeks of gains for the nasdaq, a terrific year for stocks across the board so

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