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

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the uber ipo is happening, the ride hailing giant lowering the valuation target to 80 to $90 billion ahead of going public. the company beginning its road show today and the 2020 race is on. former vice president joe biden saying that he asked former president barack obama not to endorse him. he said he asked for that. president trump saying sleepy joe will not be able to do the job and calling him not the brightest light bulb in the group. and then the measles outbreak, hundreds of students and staff f quarantined at universities. "mornings with maria" begins right now. ♪ get up right now. ♪ all we got is right now. ♪ you are way too far away. ♪ we can't get back yesterday. ♪ but we own right now. ♪ we've got right now. ♪ so get up right now.
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♪ all we've got is right now. ♪ maria: let's check markets this morning, take a look at futures as we expect the market to open flat, really. we got a market that is down predominantly. the dow industrials down 26 points right now, s&p 500 down 2, and the nasdaq however is up. it is up 9 and three quarters points right now. we're watching earnings, we've got technology earnings in full swing, amazon posted a double beat last night. the company says it plans to spend upwards of $800 million, making one day delivery free for amazon prime members. the stock this morning is up about 1% after the moves last night. joining us right now is bell point chief strategist david nelson. it's good to see you this morning. >> thanks for having me. maria: your reaction to the amazon numbers. >> there's probably something for bulls and bears in this report. certainly a monster bottom line beat. it's important to note that this is a company that can print just
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about anything it wants. all they have to do is cut back on cap ex and you can flow the earnings. for the bears, what they'll point to is the slowing revenue growth. we're down to 16, 17%. that's below what we've seen in previous years. and maybe the law of large numbers is starting to step in for this company. i think you hit on an important point. the big news was last night on the call talking about the rollout of this new service for prime. if you think back 14 years ago is when they introduced two day delivery. now they're going to try to get that down to one day. and it's almost a trojan horse as morgan stanley points out this morning. they're going to move into the logistics business pretty heavily. maria: they're trying to get into every business i feel like. when amazon gets in the business, you better watch out below. >> that's maybe the only risk for this p company is regulatory. people are going to look at this company as they march from business to business to business and people -- somebody in washington is going to want to do something about that. unfortunately, the anti-trust laws were really designed to
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deal with a company like, say, standard oil. not going to really work for an amazon. if they're going to do anything, they would have to rewrite anti-trust. maria: let's talk about the other earnings, chevron, exxon mobil, american airlines. your reaction to the earnings picture so far. i feel like the estimates have come down so much that they actually beat the lowered estimates. >> we've been had. the ceos back in the last quarter, they were tripping over themselves to cut guidance, coming into this quarter. and you saw it in the semis, you saw it across the board. six months ago, numbers for semis including intel were down from $1.07 down to 87-cents. they barely made the number. that was true for a lot of companies. they stepped over the lowered bar because analysts cut to cuto far. maria: what are you expecting for the rest of the year. >> we still interest all the usual suspects to worry about, china trade, a paralyzed washington, and look, we're not cheap at this point. we're just under 17 times earnings. i think the one thing that i
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look at is interest rates. as long as interest rates remain benign, then stocks are just a better asset class. maria: you don't think the fed is going to move, raising rates. >> this is largely on the heels of the fed, a reversal from jay powell and company. without it we wouldn't have had the recovery we had. maria: do you think they cut rates at any point this year. the european economy is lucky if it grows 1% right now. >> it's a possibility. we don't live in a vacuum. they understand that now. i think that was the mistake. what we saw last year was a policy mistake. what i would rather see them do is focus on the balance sheet. i think it's a mistake to stop rolling that off, even at 3.5 trillion where they get down to, that's seven times where we were prethe financial crisis. maria: they were on auto pilot at the end of last year. >> that was the problem. maria: they needed to look at that and say wait a minute, we're on auto pilot, let's look at the economy and assess. that's a form of tightening. >> it is. it is. but i thought they could have done something on an incremental
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basis. to do nothing, how long are they going to go? at some point i think they have to address it. for now, the markets like that. maria: we will b leave i leave. great to see you this morning. we want to turn to uber, the company is ready to kick off its invest erode show today. however, going into the road show it's actually lowering its valuation target ahead of next month's expected ipo. jackie deangeles is looking at this this is morning. >> this is such a highly anticipated ipo, especially the pipeline is starting to open and you're right, they did lower the valuation. 80 to $90 billion instead of 90 to $1 billion. $100 billion. they're looking for 40 to $50. this is interesting because it's a conservative approach as this company is getting on the road to assess investor appetite. this comes after lyft went public on march 29th at the nasdaq. that price, 70 to 72. it popped over $87 in its
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opening trade. it's down 22% since then. so a lot of people said uber has the advantage because it's going second. well, lyft didn't do so well. in some senses, a lot of investors are wondering if they want to step into this. the wall street journal is reporting a lot of big interest in it. the conversations are going to continue. they'll have to sell the company in the road show. maria: that's amazing, this company has incredible valuation, even though they cut it, jackie, it's a lot higher than something like a lyft and lyft hasn't made a dime. >> absolutely. and that's what everybody has been saying since talk of uber coming public at all, is this company actually worth that valuation. that's what investors are going to have to determine here. there's a lot of excitement around ipos right now and a lot of interest in it generally on the floor of the stock exchange, the traders saying we're glad the pipe is opening up. you want to make sure you're getting into a good investment. maria: we'll keep watching that.
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thanks so much. intel is out with an earnings warning this morning. cheryl casone on that in headlines this morning. cheryl: good morning. some rough news for intel shareholders. the stock tumbled in the post market, in the premarket as well, and is down as you can see more than 7.5% right now. they issued a disappointing outlook to investors. the new ceo, bob swan, lowered the revenue guidance for the rest of the year due to a dramatic slowdown in china and weaker demand from cloud computing companies. the down beat guidance coming as intel's latest earnings actually topped expectations. a stock to watch today. shares of ford are rallying after its latest earnings came in better than expected. ford's operating profit jumped 12% from a year ago thanks to strong gains in pickup and sub salesuvsales in the u.s. people love their trucks. they were hurt by lower vehicle sales worldwide. good news, bad news from deutsche bank this morning. the european investors are
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watching, the bank announced cost cutting, helped boost the first quarter profits. 67% jump there. but they cut their 2019 revenue target saying had they expect essentially flat full year revenues. the earnings report coming just one day as we reported yesterday, the bank ended merger talks with that smaller rival commerce bank. and merger talks to tell you about in the car industry. renault planning to propose a partnership with nissan. this is according to the journal. nissan and renault will receive a roughly 50% stake in the new company. reports say renault made a similar offer in january after their alliance was rocked by the arrest of former nissan ceo carlos ghosn in november. nissan did reject it. so timing is everything, right, with this news with renault. maria: the partnership idea didn't work that well for carlos ghosn, did it? cheryl: no. maria: he's out on bail at this moment. we'll have more news on that this morning. cheryl, thank you. coming up, 2020 presidential race is on, president trump
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says, quote, unquote, sleepy joe biden will not be able to do the job and calls him not the brightest light bulb in the group. we'll talk about the big race coming up. the measles outbreak, hundreds of students and staff quarantined at universities this morning. back in a minute with that. ♪ ♪ (vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all.
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as well as ken roboff is here ahead of the gdp number that we will be getting. 2020 in focus this morning, joe biden is campaigning for the democratic nomination for president without the endorsement of former president obama. >> i asked president obama not to endorse and he doesn't want to -- we should -- whoever wins this nomination should win it on their own merits. maria: joining the conversation this morning, fox business network's jackie deangeles is here, along with jack brewer is joining us along with real clear politics co-founder and president, tom bevin. thank you for joining us. come on, you ask somebody not to endorse you? do we believe this? >> you know, it's the way you start it off, i think. if joe was to come out and say, you know, oh, me and barack are tied hand in hand, i'm sure he would get backlash. i can't wait to see the battle.
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it will be like a first round fight. >> i think you ask, you say i don't want to be endorsed because you're worried you're not going to get the endorsement and if you do, you worry what reperecushions you'll have. maria: -- repercussions you'll have. maria: look at the primary, see what voters decide and get behind the candidate, it makes me feel like he doesn't want biden to be the president, tom. he wants to back a different horse. >> there were questions about why the obamas weren't supporting biden when all the inappropriate touching stuff came out. there were reports that obama was taking meetings with other candidates and so this is not a susurprise that obama is going o stay on the sidelines. nobody believes that biden asked him not to endorse. ridiculous. maria: it's silly. oh, yeah, don't endorse me. i don't want endorsements right now. the president weighed in on joe biden last night. he was on hannity. watch this.
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>> i think that when you look at joe, i've known joe over the years, he's not the brightest light bulb in the group, i don't think. but he has a name that they know. maria: the president is starting off with the suggestions about joe biden, sleepy joe, not the brightest light, what's your take. >> i thought sleepy joe was lame. trump has to up his nickname game a little bit. but biden's biggest asset in this field is his electability. right. even folks who he is not their first choice in the democratic primary think he has the best chance of beating trump. that has to be the central theme of his campaign. he has to be able to say, look, your heart may be with one of these other candidates for whatever reason, you may think i'm too old, too white, too male. but i'm the guy who will win,
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none of these others can. if he can stick with that, he's got a chance. maria: what's the policy platform? is it just take down trump? >> for a lot of folks, it is. maria: that's it. >> yeah. maria: i don't think that's going to fly for the american people. >> biden has to be careful not to get -- fall in with all these other candidates, get dragged to the left and start endorsing policies like voting for terrorists in prison, things like that. he has to withhold -- withstand that because that's the core of his argument to the electorate. >> i think he has to hit president trump -- president trump has to hit hard on the economy. that's going to be the issue. i think a lot of people will stand back and say can he compete on the economy and would he be able to lead in the same way. maria: with the economy doing as well as it is, they're going to have to come up with something else because the economy, we're looking at record unemployment lows, we're looking
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at wages finally rising for the first time in a decade. what do you think, jack? >> i don't think he'll be able to go far enough left, because joe cannot stick to a talking point if it goes too far left. he's going to always be that joe that will say the think he feels. i think he's going to turn off the far-reaching new democratic party that have been coming closer and closer to socialist. maria: is biden a bigger challenge to trump than bernie? or is bernie the real threat? because i think if hillary hadn't totally -- if everybody wasn't in the tank for hillary last time, i think he would have had a real shot, bernie sanders. >> i think so too. i think the problem was people didn't like hillary and they wouldn't give her the vote. they might have given it to him. he might have missed his opportunity in some senses. >> i do think that biden connects more with the working class voter in states that will matter, pennsylvania, michigan, ohio and the like.
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to jack's point, the longer this is wide open and the progressive vote is distributed among a number of candidates, the better chances for biden. >> it's going to be hard for him to get that sanders vote, that aoc kind of vote and that is really an up and coming part of the population. the president doesn't have to worry about that. maria: that's the thing. they're so left that it's even hard for howard schultz, it's hard for a joe biden, because they're trying to sell themselves as moderates. guess what? much of the party doesn't want a moderate. >> i think that gets you into the game but you cannot win the general election if you're that far left. i don't think -- i think if he has to face a bernie sanders, he demolishes him. maria: the nfl draft was last night. we're going to talk about this today. as a former nfl star, jack, what did you think about the draft? >> it was unbelievable to see the crowds.
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if you watched that draft yesterday, it's becoming an event like the super bowl. really. i think there was three 400,000 people outside. it's amazing, to see a first round draft pick that is also the first round draft pick in baseball. this kid is a freak of nature. maria: the nfl network, they do a lot of pomp and circumstance around this. >> they do, i think the viewership was estimated to be around 11.5 million. unbelievable. maria: that is unbelievable. we'll talk more about that. we have jack brewer on the panel today. coming up, facebook under investigation for collecting e-mails and it sues three people over instagram likes. wait until you hear this story. the measles outbreak, hundreds of students and staff on two california campuses have been quarantined. that's all next. stay with us. ♪ little, bitty pretty one.
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maria: welcome back. headlines across america this morning. the denver post reporting multiple people are dead in a fiery crash near colorado mills parkway. the i-70 closed eastbound. there was an explosion and fire as a run away semi plows into traffic colliding with a school bus, three trucks and 112 cars. 12 cars. the l.a. times writes more than 200 students and staff at l.a. universities have been quarantined. students at ucla and cal state la. are asked to stay home this morning in an effort to stem a me setmeasles outbreak.
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they are ordering students and staff who can't prove they were vaccinated be quarantined. a new orleans high school student got $3.8 million in collascholarship. she started applying to schools in september and didn't stop until her mailbox was overflowing with acceptance letters and scholarship offers. she plans to major in elementary education. that's a nice story. you want to see that. >> very impressive. >> back in my day, you applied to three colleges, four colleges. now you can hit a button and apply to hundreds. maria: is that how you do it? >> yeah. that's why acceptance rates have gone down across the board. you also see stories like this, 115. >> in my day, for acceptance you get a letter in the mail. now you see it electronically. you see the videos of the kids sitting and the family exploding around them. maria: i like it when it comes
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in the mail. >> there's something nice about it. maria: the trouble with facebook, the social media giant under investigation this morning by the new york attorney general. plus, its lawsuit over instagram likes, the stock is down this morning. bridgewater's ray dalio tests the personalities of bill gates and afudc. and elon musk. hear the key area both of them scored low in. that's coming up. back in a minute. ♪ every time i hear that song. ♪ i go back. ♪ i go back. ♪ i wanna keep doing what i love,
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maria: thanks for joining us. it is friday, april 26th. just before 6:30 on the east coast breaking news, over ip a lot with more details, 180
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million shares at $44-$50 a share. the company is confirming the range of 44-50. earnings and focus, the first-quarter earnings, oil giant exxon mobil and chevron. american airlines noting the fleet of 737 max jets, full announcements filling up. the stock is trading down by forecasting weaker demand for cloud services and a slowdown in china for intel as you see shares are active and down. broader market is mixed lower, down the small-town 20 points. the nasdaq futures are higher extent a big rally, 123/4 points after hitting entered a record high after missing a record close on the nasdaq, down by 3m which was down 13% at the close yesterday. looking at yesterday's numbers at 4:00 on wall street the dow
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industrials gave up 135 points. nasdaq was up 16 points and momentum continues this morning. european indices are mixed. there is asia but european numbers mixed with the s&p in london down ten points, the cac quarante in paris up 9 points and the dax index in germany higher by 17. in asia overnight a mixed story. the one winner, hang seng index up a fraction. shanghai composite was the worst performer. japanese industrial production dropped at the fastest pace in four years down 4.6% in the month of march. facebook and the law. the social media giant under investigation for collecting emails. facebook filing its own lawsuit over life and followers. personality test, find out where bill gates and elon musk hit highs and the key area
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where both men scored low. the end game smashing box office records, and bond 25, details revealed. your movie platform coming up for the weekend. chinese president xi jinping signaling approval for donald trump's trade demand. he pledged to address state subsidies, protect intellectual property rights and allow foreign investment in more sectors. a number of industries, all key issues in trade negotiations, steve mnuchin along with robert lighthizer traveling to china for talks after my exclusive interview on "mornings with maria". he will join me for that before he leaves for china. gordon chang, great to see you. what gets done next week in china with these two gentlemen
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traveling to beijing. >> i've given up forecasting on this. there have been a lot of optimistic stories for the last 6 months, almost all have proved to be premature. people say there will be a trade deal it looks like xi jinping might come to washington in june. donald trump signaling that yesterday but things fall off the cliff so many times. i'm saying who knows? maria: for a while they were back and forth over enforcement action, and enforcement mechanism in this deal. should china steel or go back on its promises, they can snap back to something on tariffs, to enforce the situation. is that the sticking point or is it something else? >> it is enforcement but this is fantasyland. the idea we will put a provision his agreement to china won't retaliate if we impose costs for china breaking the deal, that is ludicrous.
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if we think this will work we are just deluding ourselves. >> my question is under previous administrations we tried a get along strategy, not ruffling feathers, trump changed mentality when he came in and punched china in the face, we are taking a different approach. seems you are saying neither approach works. what is the answer? how do we stop china from cheating? countries around the globe agree with the fundamental premise but disagree how to go about it. how do we get this done? >> we need to disengage our economy from china's. maria: how do you do that? second-largest economy. >> it is happening, companies are seeing what is going on in china, losing patience which is why xi jinping is showing flexibility especially in this talk at the forum but companies are starting to say india is important, china's economy slowing, the chinese won't stop stealing. that is the road we need to go.
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it is difficult politically to do but nonetheless the economics will dictate that. maria: there was a lot of talk about xi jinping coming here and meeting the president at mara lago and maybe they will send the delegation back in may. what happened? >> steve bannon call it, it is a truce. donald trump sees a need, 2020 elections. xi jinping has a lot of reasons internally for a truce because of a weaker economy. he's getting a lot of flak from people. it will look good for him as well. this isn't going to last. we have decades of failed trade agreement so signing up another trade agreement is not the remedy for decades of chinese dishonesty. >> kim jung un saying the us has been acting in bad faith since hanoi.
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during the summit with vladimir putin, it is amazing to me vladimir putin gets involved in everything. kim is warning relations between north korea and the us can return to the original state. >> they eventually will. as we get to 2020, that important date in november democrats will rightly say trump's policies have failed. trump has to pivot. the way he will pivot is to go back to vigorous enforcement of sanctions. kim jung un said we have been bad since the hanoi summit and he got what he wanted from vladimir putin at the summit in vladivostok. kim is stalling. when they talk about multilateral guarantees, sure difficult to negotiate, takes longer to get there. that means kim can stalling for vladimir putin he has to play at the table because russia will be giving those guarantees giving him a veto over the final deal.
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and donald trump can turn around and say i have had enough of this and i will start sanctioning the russians, south koreans and make everybody hurt and kim will have no choice but do what trump wants. as you say this is a president who will punch you in the face if you don't given what he wants. >> i am okay with that. maria: what about the death of otto warmbier? the us receiving a $2 million hospital bill from north korea for otto warmbier's care while being locked up in north korea. he died days after being returned to the united states, the washington post reporting the envoy says to retrieve warmbier find an agreement to pay on instructions from donald trump but telling fox news the us did not pay. can you imagine? they killed him in north korea and once money for the care. >> north koreans will never see
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a penny of that. what we do to bring people back sometimes people say is too much but important to bring americans back from regimes like that. i'm not terribly flushed about signing an agreement we have no intention to honor. that is what we did. maria: i lived in china and the middle east, two dangerous places if you're detained for some reason. i believe the us should support people if they do run into trouble in these foreign countries and the white house said we are not commenting because our negotiations are private and that helps with the success of them. >> it is important to bring otto warmbier back. these are symbolic and we are not going to leave americans on their hands. on the other hand we are not going to pay. this is similar to what happened in april 2001 with the
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navy reconnaissance plane, the chinese give us a bill for room and board and we offer to pay it but the negotiation installed so we never paid the chinese either and we shouldn't pay these regimes. i don't mind agreeing to pay but we should never never ever pay. maria: what is your take about kim jung un and vladimir putin? p is trying to replace the us in the middle east as the outsider and cozying up to north korea to make it look like he had anything to do with these calls for denuclearization. >> the thing about vladimir putin, russia is a superpower, it is a piglet. he doesn't have the resources to trouble us in north asia. is more focused on the middle east, central asia and europe. he will cause real trouble because that is important to him. in north asia he will be devil us and trump can give them a hard time in return which is what our president should do. maria: it is great to see you, thanks so much. new legal troubles for facebook.
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>> new york's attorney general is investigating facebook for collecting emails of 1 million users. social network admitted last week it unintentionally uploaded emails of new users and doing it since may 2016. meantime facebook is filing its own lawsuit, suing the company and three people in new zealand for allegedly selling fake likes and followers to instagram users. you may have to find a new way to pass the time at work. facebook is cracking down on personality quizes. quiz apps it will be banned completely but they will be subject to and scrutiny. the new policy a year after cambridge analytic a breached data about millions of facebook users without their permission. speaking of personality quizzes, big technology leaders coming up short on one part of the character test given by hedge fund founder.
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elon musk, bill gates and jeff bezos scored well for being assertive and open-minded, another category, concern for others. the low score doesn't mean the leaders are heartless but won't let her feeling stand in their way. a similar personality test of people looking to join his company. bridgewater associates, the largest hedge funds, $150 billion on assets under management. i agree with the bill gates part of this. that is my opinion. maria: what do you think? >> great value. when he talks i listen. >> it is interesting to see what these folks are successful in business when they share traits like that. it is fascinating to watch. maria: they have done so well. and maybe not the best
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characteristic, propelled them to their success. maria: when we come back we are back in business on earnings. american airlines hitting the tape next hour, all numbers we have for you coming up. the end of an era, avengers end game shakes up to smash box office records. a full film roundup back in a minute. ♪ i will love you forever ♪ and ever ♪ and every ♪ together ♪ together ♪ ♪
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maria: we have breaking news on newbury, the company announcing it expects its ipo price to price between $44, and $50 a share and revealing the ipo will release 180 million shares of stock. jack you reported on this at the top of the show. >> the company is going with that conservative strategy. we were talking round numbers on valuation of $120 billion. even at the high end of the range they are well below that so they are taking a close approach, investors excited about this deal mostly because of what they saw happen with left. it is a different company but at the same time you have to take your cues from the market. maria: what about lift and the
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fact that it hasn't made many, the company went public and did well on day one and proceeded to trade down. should we be looking at left as a predicate for what might happen with huber? >> that is what a lot of people will do even though companies are different and there are nuances and ambassadors will be looking at that but that is the precedent that has been set. maria: we have been covering lift and a lot of news, really busy week. look at the highlights on "mornings with maria" in case you missed it. >> 33,000 emails, didn't have somebody bust up his phone with a hammer and didn't bleach bit which is what organized criminal do and terrorists launder money. she did obstructive acts, precisely what couldn't be found with regard to the president. maria: your reaction to the mueller report? >> great news for the country, we don't want our president to
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be in league with a foreign power whether it is russia or anyone else. maria: do you think william barr will investigate the investigators? >> every indication is he is going to do that. maria: you were tapped by the president to be nominated for spot on the federal reserve board but you pulled your consideration back, what led to the decision? >> the straw that broke the camels back was a discussion i had with two administration staffers who told me all the things i could not do if i became a federal reserve board governor. i could not run my business, cannot pursue my business interests and had to be nonpolitical. that is like taking a racehorse, putting them in a stable and not letting him run. >> the current set of oil waivers expire may 2nd. we been working with the saudi's and american producers to ensure that even as we take off the left 1 million barrels
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exporting, we have a well supplied and stable oil market. maria: these boots were made for you, custom boots built a reputation for patriotic custom cowboy boots, tell us how you make them? >> this is made for hand tools for flat pieces of leather. maria: we want to introduce you to rules bringing privacy to work, a soundproof office phone booth, a private space for meetings, phone calls and everyday office tabs. what are the benefits of using this phone booth? >> it reduces noise by 29 db, over 1000 recycled plastic bottles in the walls of this phone booth, used for sound absorbing and we use this magnetically. maria: it will never be the same. a new camping experience provided -- >> these are our sleeping tentss and all of the tents
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have memory phone mattresses and beautiful betting on them. you can have that fresh air wafting through. we have everything you need from face wash and sunscreen to cell phone chargers and books. maria: reporting earnings this wednesday investors getting a preview of the new driverless car technology. >> reminds me of apple when it came out. it wasn't a school in this iphone, the technology and ecosystem had to catch up when all the pieces were in place. it is disappointing to people who think they will get kicked from knight rider. >> generations the hitting the brakes when it comes to getting a drivers license. when you and i were teenagers. dagen: i had an accident when i got my drivers license.
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>> before we are done we still have one promise to keep. if we can't protect the earth we can be damn sure we of engine it. whatever it takes. maria: that was a clip from the movie of the year, could be the movie of the summer, avengers end game, it had theaters yesterday, the conclusion of the marvel universe infinity saga is projected to smash box office records this weekend.
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joining me is mike sergeant, you loved it. >> not only did i love it but put it in context. it is historical, nothing has been done on this scale come to have 21 films over ten years that take place in the same universe and put it all together and give it a satisfying end, kind of amazing. maria: it is. >> what is great about this is what marvel has done is each film, each character has its own tone but not just tone but a different genre. for movies fish out of water, spiderman coming-of-age. this has everything. maria: was this a fitting finale to the saga that began with iron man back in 2008? >> family a fitting saga but i suggest go back and watch any old movies that you love and pay off when you see this movie because this movie, you will gasp, you will laugh, uber
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clap, you will cry, everything you want to do in a movie you will do. maria: you loved it. >> i couldn't not love it. in the movie universe they have been at this since 2008, what happens now? >> first of all this is kind of the end game of an old regime. we will have new avengers, new focuses, a lot more female heroes of color and characters you didn't know so well about like guardians of the galaxy. that will happen. maria: let me ask about the cast of the next james bond movie. the film's villain in daniel craig's final turn as 007. >> it will be a great cast. he is not someone you see as a villain because he's such a nice guy, just got an oscar for playing 30 mercury but the rest of the cast is good too. so much happened with his character this is the final
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arc, the end game for james bond so we will see how they wrap things up. for disclosure to this bond chapter until they reboot him and make him who knows. maria: he was great as freddie mercury. >> he is one of those actors who has been around a long time. he was in that and this and you didn't realize because he is such a character actor. maria: avengers is the film of the weekend. >> not that the film of the weekend but the film of the year, the film of the decade. it is going to make quite potentially almost $1 billion in four or five days. maria: i am going to go on that recommendation. thank you, still ahead, stay with us, one fortnight meets the avengers, new gaming crossover getting a lot of attention. stay here, back in a minute. ♪
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having an annuity tells me my retirement is protected. learn more at retire your risk dot org. maria: welcome back. good friday morning. happy friday. i'm maria bartiromo. it is friday, april 26th. your top stories, right now, 7:00 a.m. on the button on the east coast. the uber ipo, we've got news, the company says it will offer 180 million shares priced at between 44 and $50 apiece. this as the company begins the road show today. company will go public in the next week. earnings in focus this morning, take a look. two dow components reporting first quarter this morning, exxon mobil and chevron. american airlines also reporting this hour with their fleet of 737 max jets still grounded. we'll have the numbers and full analysis. right now, all of the above are trading up fraction naily. intel stock tom bing tumbling ae company forecast weaker demand
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for cloud services and slowdown in china. broader market is showing weakness. dow futures are down 27 points, s&p down 1 point, nasdaq is up, extending a big rally yesterday. nasdaq futures up 12 points. yesterday, 3m was the big issue for the dow. it cut 194 points from the dow jones industrial average, accounting for all of the he decline of 135 points on the dow yesterday. s&p was down 1 point. the nasdaq was up a quarter of a percent, it was up 16 points as technology continues to get a bid. in europe, the major indices mixed. the cac in paris is up 8 and the dax index up 20 points. in asia overnight, the shanghai composite down one and a quarter percent in china. japanese industrial production down at its fastest pace in almost four years. slipping 4.6%. that has to do with weakness in the economy there. the nikkei average was down a quarter of a percent as you can
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see. walmart store of the future, the retailer opening an a.i.-powered store to the public. wait until you see this. we'll take you inside. the nfl draft, the first round full of trades and surprises, find out key players teams scooped up, coming up. fortnite teams up with avengers, adding a black widow skin for a limited time. we will have that coming up. all those stories coming up this friday morning. joining me to break it down, jackie deangeles, former nfl star jack brewer and real clear politics co-founder and president, tom bevin. great to see everybody this morning. >> good to be here. maria: the nfl draft, huh to be watching that last night. >> i was locked in. i watched every single pick. maria: yeah? >> it was a lot of fun. i said this earlier. it's amazing to see what this has become. it's like a real evidence even. the ratings are skyrocketing.
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i remember this time last year i didn't know what situation the nfl would be in. you talk about the concussion issues, you talk about all the things from the player kneeling issues. the nfl is so rei'll correspondent. resilient. it's like that shield can't be stopped. maria: it's true. they've got sunday and thursday on fox. they've got espn on monday. the nfl network is doing all of this, like a big presentation around the nfl draft. how does that work where the nfl has the nfl network and they have amazing partners in fox, among others. >> they've been so creative with tv deals and contracts, the way they negotiate them. take for example the draft. you have three different networks, each day, that are covering the of draft. draft. the first round picks, you had that today you'll have second and third round which is another event. saturday, you have rounds four through seven which another network is going to carry and the ratings continue to
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skyrocket. maria: it's really become a real event. we're going to talk about that this morning. first, our top story right now, that is the trump economy. president trump touting tax cuts and economic accomplishments in an interview with shawn hannity last night. watch. >> we have the biggest tax cut in the history of our country. we have gotten rid of the individual mandate. we had the biggest cut in regulations, which is one of the things creating all of these great jobs because we have the best unemployment numbers that we've ever had. today we have the most people working, literally today, just came out, we have the most people working that we've ever had in the history of our country, almost 160 million people are working, they have jobs. it's incredible. the economy is setting records. when foreign leaders come to he see me, they say thank you, it's great to meet you, sir, and congratulations on your economy. it's the greatest economy anywhere in the world. which it is. nobody is close to us. and that's because of the things
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we've done. maria: we're going to get another window into that economy this morning when we get the gdp data. that's coming out in an hour and-a-half. stay with us on that gdp number coming out. joining us right now to talk about that is the wall street journal hjournal globaleconomicn hilsenrath. sporting a beard this morning. >> i took a few days off and didn't shave. maria: it looks good. i'm a fan. thank you for being here. what's the take on the economy right now? what's your expectation on the gdp? is that priced into the market, do you think? >> i think the watch word on the gdp report today is going to be resilience. that's the key word that i'm looking at. when we started out the first quarter a lot of estimates for growth were really ratcheted down by these investment banks on wall street because we had the government shutdown, we had financial markets in a tizzy late last year, we had concerns about trade. as the quarter progressed, as we got into april and we really
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started seeing data on how things worked, all of those estimates for first quarter growth came up and we're now looking at some number in excess of 2%. that's pretty good because first quarter tends to be a soft quarter and the face of all the head winds like the government shutdown to get a number of two plus percent i think will be a strong sign for the economy. maria: so what happens next? i mean, we were all worried at the end of last year about things slowing down, the federal reserve totally pivots. you've got a fed meeting next week, potential nominee stephen moore says he's committed to the process but would bow out if he's a liability. first, give me your expectation for the fed meeting next week, then i want to get your take on stephen moore. >> i don't think the fed is going to do anything. they've signaled pretty clearly they don't intend to do anything right now. since we're talking about numbers, you have to look forward to the inflation numbers coming out of the commerce department on monday.
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inflation looks like it's softened and if it under-shoots the fed's 2% inflation target for a few more months, we could be talking about interest rate cuts later this year. which again, will add juice to the economy. since we're looking forward on growth, i think there's going to be an agreement in august or september for more spending out of washington in the new fiscal year. so i think that's also going to add some tailwinds to this economy. so low inflation and strong growth, the fed could be on hold. it could even be cutting rates. but i think the fed is really a positive for this economy right now, not a headwind. maria: you think stephen moore makes it? >> that's really hard to say. it's going to be -- i think this one -- the kane case did not go to the senate. i think the stephen moore case will go to the senate. i think it will be a close call.
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really as to whether republicans want to get behind their own man. s he's been a partisan for republican policy making. we have to see if the party lines up behind him. >> john, it's jackie. great to see you this morning. >> great to see you. >> i want to go back to the point you made about the potential for inflation to be under the target and the fed to say we actually need to cut rates. if you had to game the chances on that, what would you say? >> well, some of it is going to have to do with energy prices, which are hard to predict. if they continue to rise over the next few months and the headline inflation numbers pick up then maybe the fed says no. what i'm looking at on monday is prices excluding food and excluding energy, the last couple readings we've seen on this have been soft and a lot of people on wall street are talking right now about what the fed did in the mid-1990s when they saw global head windswindsd
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saw inflation soften and they took out insurance. they didn't say we'll do a whole bunch of interest rate cuts but they did one or two. they might be talking about an insurance l policy if they see these inflation numbers soften. >> john, this is tom b bevin. we've been talking about how democrat as we head into the campaign how they'll attack trump on the economy, it's one of his strongest points. what can the democrats point to to make their case why they can do a better job on the economy than trump's done? >> well, you know, i think a really big part of this upcoming election is going to be about the question of inequality. and a lot of republican supporters, a lot of supporters of president trump are blue collar workers and a lot's going to come down to the question of are they participating in the upturn that we're getting. we're seeing a lot of growth in urban areas, in rural manufacturing areas.
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they've been through a long, hard period of competition from the rest of the world and we have to see if that's really -- if the economy's resilience right nows is feeding out to those groups and i think that's going to be the case that democrats make, that they can address issues of inequality and the evenness of growth as it's been spread. maria: that's definitely the issue. we'll get the gdp -- did you want to say something else, john? >> yeah. i want to ask jack a question. i'm a big football fan. i want to know how my giants did last night. do you think they solved their problems? maria: good question. >> that's a great question, brother. i love the beardism going for b. i'm going for the same look. i'm an optimist. >> that's a bad introduction. [ laughter ] maria: that's a bad beginning. that's a bad beginning. >> i know. maria: what the heck happened to the giants? >> listen -- maria: they lost jack brewer, that's one thing. >> that was a long time ago. i will tell you this, if that boy comes out and throws the boy
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well after he replaces eli, we'll all be happy. we did pick up a great cornerback, that was an awesome pick at the end of the first round. i feel like he's going to make a lot of plays. >> i feel better now. maria: i just tweeted out a picture of you and your new beard. we'll see what viewers say. >> let me know. that will decide whether i shave this weekend or not. maria: viewers will decide. we'll see you soon. have a good weekend. coming up, earnings in focus this morning, american airlines due out later this hour. exxon mobil and chevron report reporting next hour. we'll have analysis. walmart taking shopping to the next level, the retail giant unveils the store of the future. we'll bring you there. next up. stay with us. ♪ it's like i waited my whole life. ♪ for this one night. ♪ it's going to be you and me on the dance floor.
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maria: welcome back. uber is lowering its valuation target once again ahead of next month's expected ipo. cheryl casone on headlines now. cheryl: maria, the company is trimming its valuation between 80 and $90 billion. that's according to a report in the journal. that is down from nearly $100 billion it first projected. sources say uber plans to price chairshares between 44 and $50 h the ipo could be the second largest in u.s. history. amazon's latest earnings soaring past expectations, but the company is warning its operating profit for the second quarter is going to fall as it shortens deliverly times for prime customers. right now it's two days. they're aiming for one. shares of amazon are higher in the premarket. we're watching earnings for american airlines parent company. earnings are expected to be lower on slightly higher
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revenue. amazon is up a little more than half a percent. we'll hear from the oil patch this morning. exxon mobil and chevron coming out with their results in the next hour, maria. so a lot more big earnings numbers coming own. nothing slows down on a friday. saudi arabia's public investment reportlanreportedly in talks wis to receive a short-term loan for new investments. the wall street journal said they're considering raising debt as part of the funding options. the pif working to deliver the crown prince's ambitious economic program, designed to free the kingdom from dependence on oil exports. u.s. home ownership rate falling for the first time in four years. analysts say many potential first time buyers are feeling the effects of rising mortgage rates, maria. those are your headlines. maria: thank you so much, cheryl. that uber story is a good one.
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we're waiting on the ipo. i guess lyft took the expectations down a bit. >> there will be a lot of focus on this. uber was the bigger name. lyft was the test case. when it went public march 29t march 29th. it soared that day well over the pricing, over $87, it priced 70 to 72 and then the drop now since it's been trading, more than 20%. so investors got really excited and then potentially burned there. that's what traders are going to be thinking about. maria: the company loses loses money, no profit yet. we're seeing the ipos, it's great, good for the markets but differentiating who is profitable and who isn't is important. >> it's important. the expectations are hopefully long-term, sort of getting in early on some things but have you to be careful about it. >> how do you price in the fact that we know that the pricing is going up, they've got to raise their fares for cu for youtube m
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looking it's getting more and more expensive. >> in new york city we have congestion pricing and we need to watch oil prices, close to $65 a barrel as well. we'll have energy earnings today. that's going to have an impact on companies too. gas prices go up, their expenses go up, you pay more. maria: that's the bottom line. the president just tweeted on otto warmbier. he wrote this, no money was paid to north korea for otto warmbier, not $2 million, not anything else. this is not the obama administration that paid for four hostages or gave five terrorist hostages who went back to battle for tra traitor serged a ahl. north korea said that they want to be paid for otto warmbier's care. carlos ghosn fallout, the former nissan chairman was released on bail last night but with conditions. as we told you those conditions yesterday right here. this as renault is saying it would like to merge with nissan.
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that did not work out well for carlos ghosn. that's for sure. the arizona cardinals making history with the first pick in the nfl draft. the highlights from the draft last night, coming up. stay with us. ♪ everybody's talking about heaven like they just can't wait to go. ♪ saying how it's going to be so good, so beautiful. ♪ lying next to you in this bed with you. ♪ i don't know how, i don't know how heaven could be better than this. sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities.
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maria: welcome back. now this, renault is planning to propose a partnership with nissan. that is according to the wall street journal this morning. this as former nissan ceo carlos ghosn was released from japan
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jail last night with conditions. ghosn said this in a statement, i maintain my innocence and am committed to vigorously defending myself against these meritless accusations. i hope to be given a fair trial where the truth will come to light and i will be vindicated. joining me right now frank ravich. thanks for joining us. you've got to explain the judiciary system in japan for us. right from the get-go, i reported on this program that i felt this was a total coup, that carlos ghosn was thrown in jail because the government as well as a lot of people under him were worried they were going to merge renault and nissan. he was just let out with these conditions that he's not allowed to speak to his wife which is extraordinary. can you explain how the japanese judicial system works that they can throw a guy in jail without any due process? >> this is actually an issue that's very controversial even in japan.
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the pretrial detention system there, what they're going for, they try to get concessions. they have a very high conviction rate, a big part of that is because they use -- they're able to use things like isolation and pressure to try to get confessions and, you know, there's a few factors there. i mean, one is what's happened with him -- i mean, there's a few things that are unusual, for example, being re-arrested after coming out on bail. a lot of this is stuff that japanese legal scholars and others have complained about as being a real problem in the system, where you can be detained, interrogated, your lawyer won't necessarily be present when you're interrogated even though you have a right to a lawyer. so it's really a proble problemc
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situation. there's and amendment that's proposed that would change that. for now, obviously that's not in place. maria: do you think he's going to get a fair trial? i mean, that's all he wants is a fair trial. >> that's a really fascinating question, because japan is very -- for all the lack of due process during the detention phase of things, there really is pretty good due process at the trial level but it's a fascinating cultural thing because in japan what they really want to see is contrition. they want to see people -- most trials in japan are not about challenging the claims of the prosecutors. they're about lowering sentences. because frequently it's based on concession. but in less than 10% of cases are people actually challenging the charges. when they do, there is a -- i think there is a chance at a fair trial. maria: they've been keeping him in detention with the lights on
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24/7. they took away his watch. he's got the lights on all day long. this is a way to torture him so that he doesn't know what time it is, what day it is and now he has agreed to these strict conditions for his release. he's not allowed to contact his wife. my sources tell me he will not be able to speak to his wife, carol, without a lawyer present. i spoke with carol ghosn earlier this month in an exclusive interview and this is what she told me, what happened when the officers raided their home and then they interrogated her. she didn't commit any crime. listen to this. >> they took my passport. i didn't understand why they took my passport. i'm not under arrest. i'm not a suspect. they took my phone. they took my laptop. they took these letters that i wrote every day to carlos while he was in the detention center. they took all the papers that his lawyers gave him regarding the case, which is -- they're not supposed to take all these
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things. and then they wanted to take me in for questioning and i said no, i want a lawyer, i'm an american citizen. maria: she was here, she was crying on-set. she was so upset, frank. jack brewer is with me this morning. look at the pictures of carlos ghosn. he's been completely diminished and for what? because he wanted to merge a french company with the jewel that is nissan of the tokyo government. >it's.>> it's heart-breaking. look at the front page of the wall street journal. the man looks like he aged 25 years. at what point does this become a human rights issue? maria: what do you think, frank? >> i think there's a lot going on here. i mean, these detentions that happen, i mean, it's not like people are hosing him down with water and things like that. what they use to get the confession is isolation. the reason a watch is taken away, they're worried about
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people committing suicide. they take anything away that could be used in that way. but what they're really doing, the isolation is really pretty horrific. so in a japanese prison, their prisons are light years ahead of ours in terms of cleanliness, food, things like that. but during the detention period, you're truly isolated and that is a way to try to get a confession out of him. with that said, i'm not -- this is something that the trial will show. i'm not 100% convinced this is all about nissan because of the fact that renault, the investigations in france by renault were turned over to prosecutors there and so i think that there is some concern i think with these newer charges. the older charges from march have to do with the japanese law in 2009 which required executive compensation to be divulged.
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there could have been some innocent mistake on his part in terms of how -- in japan, compensation has to be divulged when fixed, not when released. maria: look, i am being told that the reason they came up with this new charge and this new restriction that he's not allowed to speak to his wife is because she did an interview with me and she went and wrote an op ed in the washington post. they want to shut her up. so she comes to this set two weeks ago, she sits here, she does an interview with me. the japanese prosecutor was mad that she spoke out and told us and by the way, i was supposed to do an interview with core loswith carlosghosn and they fod re-arrested him. they want to shut them up. >> i think this -- one of the fund mental problems with the japanese detention system is that they -- frequently, when someone is about to be released, they'll file new charges so that
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the person can be held longer. i'm not sure there as worried about the western media as we think that they are. there's sort of a rigidity within the japanese system. people are sort of following the rules. one of the interesting things about them preventing him from speaking to her, there's this element in the japanese criminal process where if someone is -- there's a fear that someone will hide evidence or -- maria: they think she's going to destroy evidence. frank, it's great to get your a take on this. thanks very much. i should point out that today president trump is hosting prime minister abe at the white house. i don't think this is going to come up. but it's interesting to take note of that. quick break and then walmart is getting smart, the retail giant unveils its store of the future, complete with artificial intelligence. we'll show you that when we come back. flying high on earnings, american airlines set to report right after this break.
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use caution driving or operating machinery. tell your doctor if you've had mental health problems. the most common side effect is nausea. quit smoking "slow turkey." talk to your doctor about chantix. maria: breaking news, american airlines reporting first quarter earnings better than expected. lauren simonetti with the numbers right now. lauren: a penny better than expected when looking at the bottom line. for the first quarter, american airlines reported eps of 52 cents a share. revenue and ever so slight miss. the expectation was $10.6 billion. we got $10.58 billion. investors are not liking it. stock is down 2% in the premarket. here's some other news. headwinds for many of the airlines including american, it's higher oil prices, the government shutdown and the boeing 737 max grounding. american has 24 of these jets.
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they don't run a lot of flights a day, just 115 flights a day out of 6500 flights but the impact on 2019 pretax earnings from that, from the grounding of this boeing jet, $350 million. investors not liking thus far this earnings report from american, a beat on the top line, slight miss on the bottom line. maria: the stock is down as you said and we'll be watching that. thank you so much, lauren simonetti. meanwhile, our top story this half hour, capitalism versus socialism, looks like that's what the 2020 presidential race is setting up to do. bernie sanders and elizabeth warren campaigning on platforms that increase taxes on millionaires and billionaires, but recent tax returns show that sanders is a millionaire himself. here's senator sanders during his recent fox news town hall. >> we have an absurd tax system and while millions of people today are paying actually more in taxes than they anticipated,
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amazon, netflix, and dozens of major corporation as a result of trump's tax bill pay nothing in federal taxes. i think that's a disgrace. this year, we had $560,000 in income. that's a lot of money. and that money in my case, my wife's case, it came from a book that i wrote, pretty good book. you might want to read it. it's a best seller. it sold all over the world and we made money. so if anyone thinks i should apologize for writing a best selling book, i'm sorry, i'm not going to do it. in my view, people, whether it's me, you, probably make a lot more money than i do, but whether it's me or you or anybody else, i think wealthy people and large corporations that are making billions in profits should start paying their fair share of taxes. maria: joining us right now is the former cke restaurant ceo, former labor secretary nominee as well and the author of the
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capitalist comeback, author andy puzer. thanks for joining us. >> thank you. maria: what do you think about this the presidential election being set up, capitalism versus socialism? >> i think it's great. i think it's a huge win for the president. we had an -- you had an earlier guest talking about income inequality being a big issue in the election. i would like to see people on the news networks focus on how democrats measure income inequality. what they usually use is a report by a professor named sas out of u.c. berkley which uses pretax income and pregovernment transfers income. he ignores the fact that the top 20% of earners pay 95% of taxes and that ignores the fact that a lot of that money gets transferred to the bottom 20% through things like medicare, medicaid, food stamps, section 8 housing. you're not accurately measuring income inequality. the cbo looked at it, found it was 25 to 30% less if you
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included the government transfers and taxes. the second thing is, if you just want to look at wages, that's great. under president trump, wages have been up over 3% for eight consecutive quarters. maria: yeah. >> if you look at lower income people like people in restaurants and hotels, it's up about 5%. harder to find blue collar workers than white collar workers for the first time in decades. the new york fed came out with a report that said starting salaries over the last four months have gone from $55,000 to $66,000. democrats are going to be in a he position of telling working class americans who do you believe, us or your wallets. maria: the democrats are saying, though, that a big portion of the population does not have any money for an emergency. they can't come up with $400 if they had an emergency. so what do you think the answer is to lift people out of poverty, to lift the lower end of the income scale? >> look, there's only one way to reduce income inequality and make sure people at the bottom end of the income scale have more money. and that's to increase wages.
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and the only time wages go up is if you have economic growth, you have employers competing for employees, driving wages up. we've seen that. we've seen that in this economy. amazon, target, costco, have all gone to $15, major banks have gone. bank of america is going to $17, they say they're going to go to $20. that's going to drive wages up. it will reduce income inequality. maria: well, wages are up, tom, 3 and a quarter percent year over year. >> this is tom bevin. >> hey, tom. >> good to see you. >> good to see you. >> the reason democrats are proposing many of these policies, elizabeth warren came out with a student -- canceling all student loan debt. we're talking about medicare for all, talking about free child care, et cetera, et cetera. it's because there is actually some popularity among the public for these policies. trump admitted that democrats -- this is going to be a challenge for him. democrats want to say, i think he said a rolls royce in
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everyone's pocket. how does trump combat that, knowing there's parts of the population that are open to these kind of socialist type policies. >> two things about that. one is, you could implement all of elizabeth warren's tax increases and all of bernie sanders social redistributionist policieses that take the tax dollars and spread them to the bottom, the way they measure income inequality it wouldn't change it one dollar. president trump has a problem. it's hard to fight against free stuff. if the american people don't want economic growth, if they don't want to see their lives improve based upon what they do, if they don't want to see the kind of society that a capitalist economy cree is a, if they just want free stuff like the people in venezuela once did or the soviet union or cuba, well, then they should vote for people like bernie sanders who loves being a millionaire, isn't at all ashamed of it. criticizes amazon and netflix for not paying taxes. he criticizes them. however, he used every deduction he could to lower his taxes. he took full advantage of the
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tax rates and the tax bill he voted against. he then comes out and says well, i paid what i owed. guess what? so did amazon and netflix. they're all paying what they owe. he's a hypocrite. he's out to get power. he does everything -- look, it's sort of a do what i say, not what i do type of philosophy. i'm not ashamed of being rich. neither is president trump. maria: good point. go ahead, jack. >> this is jack brewer. >> hi, jack. >> the heart and soul of america, the american working class, want to reward people that work at the end of the day. i think it's really a messaging issue that i see for the republicans to be honest with you. because if bernie sanders goes out to certain populations and is showing that amazon or google is paying a small amount of taxes, that could get into the ears of a lot of americans. how do the republicans combat that? >> well, first thing i'd do is point out that he's a hypocrite. his defense is that he's paying what he owes. he's criticizing companies that also pay what they owe. i think first of all, what he's
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doing is hypocrite call. second of all, we could explain the reasons companies like that aren't paying taxes at the moment. for example, they had big capital losses, there were people that invested in those companies when the stock was very low, put their fortunes into it. jeff bezos spent everything he had on amazon, created the greatest distribution system in the history of the world, benefits all of us and the only reason he's paying lower taxes is because he's recouping the losses that amazon made or amazon is paying less taxes because it's recouping the losses it incurred when it was first formed. so we can explain it. maria: let me ask you about walmart. we've been talking about this this morning. the company unveiled a store in long island powered by a.i., called the intelligent retail lab, uses artificial intelligence powered cameras to monitor inventory and stock levels, andy. this is your business. tell me about this and how a.i. is really going to change the shopping experience. >> i think it will be tremendous for shoppers. i think it will make things
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easier. it will also make it so that individual whic businesses are e profitable. they can try and hire better employees, they can lift wage as they compete for employees and businesses will be able to open more outlets. the more profitable an outlet is, the more of them you can open. so it can create more jobs, can increase wages. you've got to remember at the beginning of the -- the end of the obama presidency, beginning of the trump presidency, there was a push in the restaurant sector to automate. and mcdonald's has done is, wendy's has done it. all of the big companies have done it. hiring in that sector has continued to grow. we have more americans working than ever before. a big portion of that comes from the lower end, the lower working class jobs that have been created despite automation. i think if we have economic growth, automation is very healthy because it makes businesses more profitable. they can grow. if we don't have economic growth, it could be a problem because it would replace jobs. >> andy, good morning, it's
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jackie. >> hi, jackie. >> i want to get back to the theme of capitalism versus socialism. the two sides have become polarized as of late. joe biden is putting his hat in the race for the presidential race. there was a time when it was good to be middle of the road. actually, is that going to be a disadvantage for him? >> i don't really know if joe biden, i would consider him middle of the road. maybe in today's very, very -- where there's such separation between the parties he's closer to the middle. he was part of the obama administration. if you want the obama administration level of complicc growth, wage growth, job growth, then vote for joe biden. if you want to continue with the great prosperity we've experienced, stick with president trump. maria: we'll leave it there. kyler murray making nfl history, the arizona cardinals taking him at the number one pick.
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the draft highlights coming up. fortnite teams up with avengers for a limited time, all the he details, right after this. ♪ if he's ever stupid enough. ♪ i'm going to be the first one calling you baby. ♪ baby. ♪ if he ain't holding you tight. ♪ if he ain't treating you right.
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holidays, brand owner true kids is planning to open a handful of smaller toys r us stores in the united states. they are currently licensed to more than 900 stores in asia and in europe. well, the final installment of the avengers series hits theaters worldwide, epic games and marvel teaming up for the fortnite end game crossover project. it allows you to assemble with heroes and use special weapons. finally, meet the chicken-dales dancers. kfc celebrating mother's day with a unique take on the chippendales performers. they're also honoring moms with a desert treat that combines biscuit with a cinnamon glaze. bring back the dancers. maria: the chicken da-dales. cheryl: i love their marketing department. maria: kyler murray makes nfl
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history, arizona cardinals take him at the number one pick. the draft highlights after this. stay with us. makes it beautiful. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2019 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. run with us in the unstoppable john deere gator xuv835, and be prepared to go the extra mile. because when others take rain checks, we take the wheel. with three-wide seating, heat and ac, this is the coolest, most comfortable gator yet.
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with the first pick in the 2019nfl draft, the arizona cardinals select kyler murray, quarterback, oklahoma. maria: well, the first round of the nfl draft in the books. it saw plenty of trades and surprises. joining us now is jared max and former safety eric coleman. plus our panel, jack brewer joining us. great to see everybody today. your reaction? eric, thanks for being here.
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your reaction. >> i was excited. it's always fun seeing the young men who worked so hard in college get to reach their dreams and get drafted to the nfl and it's an exciting time for the fans as well. maria: jared, what did you think? >> what stole the show last night was christian wilkins who got drafted early on. an exceptional human being, graduated in clemson in three years and went out on stage when he was drafted. rogeroger goodell wasn't ready r it. he jumped up and gave him a shoulder bump and nearly took out the commissioner. two tight ends from iowa taken in the first round. never before have two tight ends from the same school gone in the first two rounds, let alone the first 20 picks. >> and three defensive linemen from clemson. >> in the top 17. >> i thought i was watching the s.e.c. draft for a little while. i think every player was coming outs of s.e.c. it's a testament to what the conference has been able to do with the talent. eric, you and i played during the same time. and to see the draft become what
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it's become, the spectacle of what it's become, i would love to hear your thoughts. >> it's amazing. i was at the draft last year in dallas. you would have thought the super bowl was going on during the draft. when i was drafted in 2004, the second round -- the second -- it was saturday and sunday. on sunday, when i was drafted in the fifth round, the first round was on espn. the second round was espn two. my grandmother didn't have espn two at the time. now it's on national networks, getting all kinds of ratings. it's a beautiful thing. >> it really is. i mean, kyler murray, jared, you talked about it before. a guy that can play baseball at that level to then go on and be the first pick in the nfl draft, i said he needs to send a million dollar check to russell wilson. without russell wilson, you would never see a guy that's 5'9", 5'10" picked number one at quarterback position in nfl.
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>> doug flute couldn't do it back in the day. two other players in nfl history shorter taken with the first overall pick. we see how much does size matter here in the nfl. murray is the first player ever taken in the first round of both the baseball and football draft. you thought he would go play for the oakland a's. he won the heisman and goes to the nfl. i hope he works out. he's such an exciting player. he brings a great energy. how about that pink suit last night. ever see something like that before? kyler murray first overall last night. eli manning likely successor, daniel jones goes to the giants. giants fans, how were they on daniel jones? >> i watt a was at met life sta. to watch the reaction of the giants fans when daniel jones was picked. it was surprising. everyone was disappointed. i think ultimately the giants got the quarterback who they wanted, a franchise guy who can
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succeed eli manning. he trained under coach cutliff who coached eli manning. maria: what happens tonight? >> tonight we have rounds numbers two and three and then on the following day we'll have rounds four through seven. the nfl draft is a tiny bit of what it used to be but what's so amazing about the nfl draft is who goes late. tom brady was a sixth round pick. some of the best players in history were not drafted. how important is the nfl draft? you think of that as a player, when some of the best -- >> it's very important but i think the best thing that i've seen is you're seeing guys come in prepared for the league, not just on the field, but off the field. you're hearing more and more stories about guys that are in the community, doing positive things, like you just said. seeing these players that are getting degrees in three years, amen. amen. maria: awesome. great conversation. eric, thank you for joining the conversation. great to see.
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make sure to catch jared's sports reports on fox news headlines, 24/7 or sirius xm radio xm115. chevron and exxon mobil report in the first hour and we wait on the reading on gdp due out in 30 minutes. stay with us. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )
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friday, april. your top stories right now 8:00 a.m. on the east coast, we are watching earnings xn mobile hitting tape, about two reporting this hour exxonmobil hitting the tape right now 63.63 billion dollars in revenue, chevron later, as you can see, both stocks fractionally better exxonmobil pretty much flat chevron up, ahead of -- exxonmobil shares trading down disappointment on numbers as they just right now hit the tape, revenue is 63.63 billion dollars, we want to find out what the company is saying about the road ahead,
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the stock, has now traded lower, going into these numbers as numbers are hitting the tape, as you can see, we are showing you revenue is light versus estimate 64. 8 billion dollars in revenue, and the actual numbers are 63.6 billion so we got a -- a slight miss on revenue, for exxonmobil that is a dow component going to impact markets down 1 and half percent gdp first reading of the first quarter estimate there is growth 2% although there is higher numbers on street j.p. morgan looking for 2.9% gdp others 2.3% the estimates we got gdp first quarter 2% even out in 30 minutes' time futures lower dow futures decline 75 points out of the gate about a quarter of a percent lower exxon he going to be an issue s&p 500 five points nasdaq down almost a point, fractional move intel set to
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cut 28 points off the dow industrials at opening of trading intel an issue when you look at intel exxon mobile looks like a down opening this morning, yesterday markets were pretty active, take a look what happened the close dow industrials down 135 points the close yesterday, as you can see, one half 1% s&p 500 down one point nasdaq was up nasdaq up 16 points at 4:00 on wall street yesterday. >> yirn indices right now like this, and they are mostly well f100 town 20 cac quarante paris down one point dax negative territory down about a point as you can see, in asia overnight, the markets there focused on the japanese industrial production, it was down at fastest pace almost four years nikkei average down a quarter of a percent shanghai composite down 1 1/4% xi jinping made comments it is willing to make real concessions to the united
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states including, protecting ip the president of china made important comments overnight about the chinese economy and what they are going to do all those comments coming up then uber ipo offering 180 million shares says it will price between 44 and 50 as there are a share the company will start rod show today. border crisis at least 1300 immigrants staging a mass escape from a mexican shelter, what pent guilt or innocence looking to do about the growing problem of people crossing the border into if united states then 2020 race covering former vice president joe biden said he asked are former president obama not to endorse him, he did not want the endorsement, president trump says slepy joe will not be able to do job calls him not brightest lightbulb in the group the president started attacks on what could did he competitor next year joe biden. >> first artery concerns, a wherein miss lauren simonetti with more on the exxon quarter
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over to you. >> exxon as you know one of the two dow stocks that energy components reporting with two, three percent decline in a stock three percent decline we are seeing right now this is set to shave about 13 points from dow jones industrial average so you know if you add exxon chevy crown together just about 5% price weighting get to exxon numbers they are disappointing, if you look at the bottom line the oe. ps number we got 55 cents a share, we are were looking for 69 cents a miss on revenue came in 63.36 billion dollars street looking for 64.82, if you look deeper into this report, there is also a slight miss on the amount of oil that exxon was hoping to pump per day looking at a number of 4 million barrels here day came in slightly below that at 3.98 million, look ahead to this conference call rare, but we will once again hear from ceo
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darren woods on that call, the focus on wall street we heard few days ago that exxon was upping dividend to 87 cents about a 6% increase, wall street analysts want to see more share buybacks increasing dividends, basically to get the -- the debt down for these oil guys exxon being one of them, so unfortunately this looks like loser of the day coming back a little bit still down well over 2% maria of which ron coming out a half hour time let me get you -- the preview for that company we are looking for 1.30 per share earnings revenue -- with of which ron story we want to hear any and everything, on if there will be a bidding war with occidental higher bid, for anandarko ahead of earnings for chevron down just about half 1%. maria: stock of exxon one of the issues for the dow
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certainly day down almost 3% waiting on gdp we want lock the at trump economy right now president trump, touted tax cuts economic accomplishments in interview with fox news sean hannity. >> watch. >> we have the -- biggest tax cut in the history of our country. we have gotten rid of the individual mandate. we had biggest cut in regulations which is one of the things creating all great jobs because we have the best unemployment numbers we've ever had. today we have most people working literally today just came out we have the most people working, than we've ever had in the history of our country almost 160 million people are working to have jobs. and it is incredible the economy is -- is setting records when foreign leeds come to see me always say thank you great to meet you sir congratulations on your economy, it is the greatest economy anywhere in the world when it is nobody is even close is to, that is because of the things we've done.
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maria: he says we are waiting on first quarter gdp due out in about 25 minutes joining me right now harvard economics professor former imf chief economist always good to see you thanks for joining us how would you characterize the compromise economy right now. >> it is very commoning u.s. economy strength outside of china anywhere in the world it is doing very well not growing at 6%, but we're probably growing 2 1/2% i think it is possible we could be growing at 3% in coming years. maria: and, of course, we are getting the gdp out for the first quarter, we had government shutdown worries about europe china first quarter what would you say about things slowing down as a result of some outside forces u.s. facing like europe. >> it hasn't happened i think we talked about when i came on last. we were wondering were you wondering if it would come here it hasn't. europe picked up a little
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china indefinitelys stabilized has not hit us you can't read that much into one quarter inventory accumulation people might have rushed imports ahead of something it was shutdown i don't know what it is i would say between 2 and 2 1/2 it isn't anything like some predictions we were hearing a month ago. >> everybody hair on fire six mins ago recession coming we gep getting one number better than next every day. >> yeah, the global economy is stable, i think even compared to a couple weeks ago when i was at the imf meetings global economy looking more stable i mean china is a declining trend, europe may look like japan over the next he 10, 20 years united states seem rising above in a let me ask you about op-ed you wrote you wrote op-ed on big techs going into 2020, and presidential candidate elizabeth warren her plan to roen in big tax warren courageous big tax big for
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most leading democratic parly oppresses warren is not alone in thinking tech giants gained excessive market dominance one of few issue in washington some semblance of agreement you are right elizabeth warren ted crises both saying different sides of the spectrum sake get these companies to break up. >> well i know whdon't know wha solution is it is big everything big pharma rise in monopoly power started to sees economists antitrust has been asleep last 40 forget about last years, big tech kind of at the poster child but not only ones. >> it is not just bigness for
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tech companies i mean they have abused their power, when you take a look at how he they've given you know, all the privacy breaches given our data away selling to go advertising industry, do you think we are going to see a heavier hand in terms of regulation? you know what europe has done, i don't think the u.s. is going to do what europe has done they have come down hard on companies, but will we see tweaking in terms of of the regulatory burdens. >> absolutely, i have heard phrase surveillance capitalism we've moved into, i think as people understand when you write e-mail i may we advertisement later the idea big tech companies would be able to buy up potential xrorz i think is very problematic they haven't done cautious on that. maria: it is interesting, because you know, we know this is coming, it has got to come
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right? stocks trading incredible valgz i wonder when they think. >> one thing is that the united states is just ruling in tech, i was recently in china, you think about oh china going to take over they are competitors, the thing i learned more and more europe is not. yoo want name one innovation out of europe 10 years. >> putting me on spot. >> research was probably done in the united states, imen they have a lot of patents find out research teams are in the united states u.s. is really leading the world in a lot of things i think one of our sources of strength. >> there is worry china ahead on a.i.. >> they aring from president xi made concessions about trade all things they would do i didn't hear anything about cyberspying or cybersecurity i don't think they will inin the event anything in a.i. that we didn't invent first around the they steal. >> it we will see president xi
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jinping on tape this morning, with comments he made yesterday they are going to start protecting intellectual property, going to buy more and going from u.s. going to open up markets obviously the president's pushing back on china, is -- is -- is moving the needle in terms of what have the chinese are willing to do. >> remarkable, because the chinese they will move but they will not move because u.s. is complaining pup let us do it if you push us we won't do anything. and, you know, he didn't mention cyberspying but talked about intellectual they went to currency agreement i don't think a good idea i think a bad concession it was remarkable. >> remarkable what xi jinping paid. >> absolutely i don't know if he will do what he said he is going to do. maria: that is why fighting over enforcement mechanism. >> could happen it could -- but the fact he said it is already really surprising. maria: i totally agree you made comments recently on federal reserve suggesting the world may be facing an end to
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central bank independence what do you think? >> i think certainly look around, it is smaller countries, turkey hungary venezuela, argentina there have been a lot of problems with central bank nonprofits i think the fundamental problem a lot of people you talk to people they say inflation, that is 20th century you can't have inflation in the 21 century why need independently bank i think they have got it so wrong frlt in some countries i hope not ours we will find out. >> you are my special guest this weekends i appreciate you have joining me on maria bartiromo wall street tonight 9 pm eastern join myself and ken, for that we will see you later, thank you. >> coming up the advance read first quarter gdp due bought 15 minutes' time expecting 2% growth for the quarter first reading for the first quarter we will have that when we come right back disappointing results from oil joint exxonmobil stock down 2 and a
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disappointing gerri willis on the floor with details good morning. >> hey maria, good morning to you yeah, we have a double disappointment miss on bottom an top lines 55 cents a share expectancies 69 cents a share on revenue 63.36 billion the number expectations of 64 -- 6428 billion. >> the company said weaker in fourth quarter watching for chevron any moment 1.30 a share expectation will they up offer for anandarko we will watch for that mailers beating estimates coming in 52 cents a share versus 51 missing on
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revenue they say higher oil prices government shutdown amazon profit more than double people on the like revenue growth slowing, retailers blamed here, one day free shipping for prime members good news story for you today. >> thank you, advance reading fourth quarter gdp due out 10 minutes expecting 2% growth first quarter we will have that number when we come right back. stay with us.
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all of which helps you do more than your customers thought possible. comcast business. beyond fast. ss maria: welcome back 2020 in focus president trump weighing in on 2020 democratic primary candidates last night on hannity. >> i think that you know when you look at joe i have known joe over the years he's not the brightedist lightbulb in the group i don't think but he
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has a name that they know. he is fading very fast, i think he is fading very, very fast looks like he is going to be a thing of the past pretty soon but he was a hot item for a little while. >> i don't -- i don't see either of them, i think she is got a little bit of a nasty wit that might be it mayor pete is not going to make it i would hope he would i hope i am rooting for him but he's not going to make. >> it former house speaker author of the political thriller collusion, just out by newt gingrich, great to see you thanks so much for joining us this morning. >> the. >> great to be with you. >> congrats on book first talk about the president assessment do you agree with what he just said? >> oh pretty much so i think the problem that vice president biden has that he has a past. my newsletter today talks about the kate smith statute
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being taken down in philadelphia from the flyers arena. because, out of 3,000 songs she recorded in her career, in 1931 recorded two songs, that had what are seen as racist language, and, therefore, she is no longer acceptable even though she introduced america to the song god bless america became a national icon, he is going to find himself in the kate smith statute problem, anita hill rerepudiated eights his efforts to apologize yet to be encountered on fact used to support amendments with jesse helps to stop us abouting for desegregation purposes a long career you deal with more than left wing democrats they have zero tolerance for anybody imperfect he is by definition going to turn out pretty why i am perfect.
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>> techs messages between strzok and page show two using postelection briefings to the trump team to gain more information on campaign dealings with russia, attorney general barr was urged to investigate this mr. speaker we know the last two years, of you heard it here first, that there was no collusion, and this whole narrative was a complete lie. do you think there is accountability here? >> i hope so, i have a lot of faith in the attorney general barr, i think he believes in the rule of law. we had an amazing level of corruption i think the president is right. it was in effect attempted coup. to the defeat call to elected president of the yoo you states on part of the deep state and you had fbi bureaucrats tried to reverse results of the there he goes i think, that clearly had the fingerprints coming back to
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joe biden you have attorney general doing things that she should not have been doing you have to presume that the vice president the president obama knew it then ask you question so did joe biden know any of this was he in loop aware what is going on? i don't think this is going away, i think, now it is going to get worse for the left. maria: really good point what did biden know you have written about this obviously in realclearpolitics we want to know how high up the ladder this was strategy take trump down was so -- i mean just so wide-ranging from informants dossier strategy it is incredible. >> i do think we will get accountability. >> do you? >> i do we may not get as quickly as we want i do think there is going to be accountability we will find out exactly how this happened, i think republicans lindsey graham in senate in particular will will he able to drive
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process try to uncover as much get as much transparency we deserve american people deserve it especially after what we went through. >> two years collusion delusion country on goose actuation people like brennan clapper using words like "treesan" and clue collusion" there are so many guilty trying to undermine u.s. constitution this has to about thoroughly looked at let me point out that the mueller at some point, had to know there was no collusion. >> i wonder when he knew it midterm election come and go let midterm elections come and go. >> president united states. >> all about this, collusion newt gingrich great to see you want to get to break gdp on the other side of this break back in a minute.
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maria: good friday morning. thanks for joinings i am maria bartiromo. friday april 26 we have waiting on breaking news due out 10 seconds looking for growth at least 2% estimates go up to 2.9% if you believe j.p. morgan waiting on earnings, dow industrials chevron, is -- >> 3.2? -- 3.2% number gdp this morning that is a very strong number for the first quarter advance let's see if any changes looking at oil stocks waiting on chevron the market is coming back from lows here, with gdp number out, up 3.2% much better than estimates call for growth 2%, all the way to 2.9% very strong for the first quarter we had a government shutdown, we had worries about slow growth, and coming off a very -- volatile end of year last year markets
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trading volatile and down the end last year first quarter gdp, bouncing back up 3.2%, is the number that is moving markets this morning look at futures in positive territory across the board, dow industrials up 9 s&p 500 up for you and a quarter nasdaq up 33 points first quarter gdp number above expectations, intel exxon pressures on dow industrials however, we are expecting exxon and intel to be lower on heels of disappointments on earnings joining us right now for reaction on gdp number is staefly pomboy great to see you last time you were here you said we are going to start seeing good shoots positive news. >> first quarter number surprise i was this could we would see stronger numbers as we got into second quarter the fact that first quarter growth was so much stronger than expected, is amazing. i was prepared to talk about how inventories were going to
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be a contribution to the number that would be part of what was driving it up but wasn't expecting three handle on this number, so it is he going to be interesting to look at details here, built again there was about going to be a big contribution from inventories obviously isn't positive going forward because you have to unwind inventories another contributing factor was going to be trade, where we were actual going to see increase in exports would help drive you know narrow trade deficit less gdp that is not going to continue the strength in dollar is going to being a as headwind to that, i agree with you, maria i mean i think this number was stronger and i think moving through the next let's say four, six weeks we should see stronger consumer numbers going to be really interesting what the consumer spending component was here, but i do think we will see stronger -- >> the personal the personals
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consumption number we want to focus on in gdp, last week i interviewed jaime dimond said the consumer balance sheet is best it has been in 30 years because of very low debt, and wages up better than 3% year-over-year. >>is the important thing consumer is your pacing painting them one brush there isn't an average consumer any more there is high end and low end i do think we should see stronger numbers on the consumer front because depressed three mince, part of of that was function of the fourth quarter in markets that wl depressed psychology consumer and corporate front what i think is fascinating about the gdp print sets up dilemma i talked about you talking about risk upside risk that we have the fed meeting
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next week, and, you know, what is powell going to say about you back pedaled frantically talking about even pausing unwind of the balance sheet markets pricing in a rate cut then we get this number? i mean i don't know in anyone was looking for 3% growth in any quarter this year, much less the. >> the question what does fed say at that meeting on wednesday, are they going to tilt toward well we are out of the way no rate hikes certainly? people talk about rate cut or going to say things coming back things are strong maybe a rate hike is on the table. >> how manic depressive do they look with apologies to former employer these guys look like jim cramer monetary policy one day think the economy is hot next day they think soft so this is going to set up dilemma for the financial markets that better news now they don't know what
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to do with that bond market sell off here? if it does doesn't that have damiening effect on stock market i fear return of bond vigilantes i talked to you about last time stronger growth sets up increased volatility in the financial markets generally not a friend to prices, you know, uncertainty is going to be major issue here around monetary policy. >> does this help take user stance against china trade negotiations. >> a good point -- their data started to look better this number is definitely like i said you know you didn't expect 3% in any quarter much less, the first quarter normally just really seasonally weak. >> jamie dimon told me last week about the consumer and economy today watch this. . >> well will we see in u.s., that is the american consumer balance sheet incomes are going are strong, not weak, more people going back to
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workforce which is a good thing, companies are in very good shape profits are good capital expenditures still going up business consumer high level housing in short supply kind of a tailwind fed on pause i think did right thing going to be more time to adjust it a little bit of slowdown but just little slowdown other than trade i am not sure going to stop it next year or two i am prepared for it to get bad i am not predicting it i am saying you can you can actually have a pretty good environment. >> you don't see a recession next couple years. >> i don't. >> where did this come from going to see a recession in 2019, 2020? >> i think one i would have a risk i view as recession comes from the corporate sector he makes a good point that the consumers in better shape than they were that is not the problem this time the problem is at the lefrmgveraging up. >> almost 800 plan corporate
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debt 800 billion next year corporate borrowing costs radical back alongside with stock market last few months but still above where xherp in september well above where they were at lows so we are going to see corporations trying to you know, refinance this massive amount of debt, and you know if my concern about return of the bond vigilantes, any sort bearing any fruit could create on the corporate side ultimately hits back to consumers if companies are having strongesh refinancing designate not going to rush out increase wages hire more people it kind of feeds book together. >> skra valid points for sure the bull market sursurpassing 10 year mark measure of conservatives wasn't just seven to 10 year cycle after great recession may have legs to go a lot further. >> what i come back to on the stock market front is all coming down to earnings, i
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know, i think that the first quarter obviously, people sort of kitchen sink that we know first quarter numbers are gotten weak the forecast look for an increase in if earnings, in the out quarters ultimately going back to double digits next year, so this is really viewed as a one queue phone everything will recovery and, again, you know my concerns about the corporate borrowing side have me less bullish on earnings outlook i think that could be a risk that may be if you look at guidance for example, even as companies are sort of narrowly beating incredibly depressed guidelines expectations in the first quarter guidance is really fairly negative, certainly very cautious in the out quarter so we will see what happens there i think that could be the real, wriefrnkle what happens with leveraging corporate balance sheets.
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>> first reading gdp first quarter up 3.2% estimate calls for growth 2%, this is wildly better than expectations, some people were expecting up to 2.9% was estimate out of j.p. morgan but whatever way you look at it this has smashed through estimates, on gdp number, tom how do you see it? >> well, again i am -- my -- politics i look through political lens huge win for president trump. you know we were talking about, the trade war with china -- just a few weeks .5% growth? first quarter we're 3.2 so the economy continues to be much more resilient than people have estimated. and that bodes welcome for him moving into reelection. >> by the way, we have a huge week next week fomc meeting wednesday, china pmi purchasing managers index a sense of manufacturing in china, for the month of april,
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you've got inflation numbers pce coming out next week, of course, a jobs numbers the end of the week no doubt we are going to see wages probably either go up, or stay at a level of 3.2% year-over-year all good news. >> very interesting week you talked about we have all indicators they also have personal income spending numbers broader numbers and it will be interesting to see what powell says about that in the presser, on the first the. it is really this is the conundrum now, if good news good news or is good news bad news. highlights here first quarter consumer spending up 1.2% versus fourth quarter 2 1/2%, you have business investment, up 2.7%, equipment up 2/10 of a percent intellectual property software in terms of business investment, 8.6%, business investment into intellectual property software
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up 8 .6% fantastic number people say capex slowed down i am not buying it okay capex into ip up 8 1/2%. >> that is actually that number is stronger the other ones are weaker than expected, although pce was pretty much exactly as expected, the consumer spending number 1-2 i think estimates for 1.1 less than half what it was in the -- >> first quarter up 6/10 of a percent. >> we will see what powell says about that i think that is headier than he might necessarily want to see. all in all this is going to be right now the fed is scratching its head as to what they're going to do i would focus very heavily on a the bond market, over the next few weeks, that is really going to be the story. >> we haven't mentioned chevron earnings mixed more from lauren simonetti chevron quarter. >> maria investors trying to figure out how to responded
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this this initially stock went up as opening bell it is a dow component 3% we got on average did go down now up not even a tenth of 1%, 117.98 number impressive was bottom line number eps 1.39 a share as you noted expectation was 1.30 net income 2.6 million dollars better than expected the problem with revenue 35.2 billion the estimate for 38.4 billion. so i am going through this report, of course, we need to listen to the conference call we need to hear if anything i am sure questions from ceo going to be unconvinced is chevron upping bid for anandarko after the bid came in good for oil xaengz you have to remember when a lot started lowering estimates that was when oil was much lower than it is right now, maria, back to you. maria: thank you so much
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joining us right now price futures group analystaway in on chevron especially since occidental poet trollium going to be outbiding chevron in acquisition of anandarko offering 38 billion dollars, of course, topping the chevron bid 33 billion dollars, we've got a fight going on for this company. >> you sure do, i think this is the first of many maria, down in permian basin exxonmobil chevron thinks the future in -- >> oil right now, so this is what we're seeing right now at this time, so if you look at what is really going on here, you know with today's earnings it really shows chevron looks like as much better run than exxonmobil if you compare two people chevron has been a leader, they were first in the permian expanding exxonmobil playing a lot of catchup right now compare two earnings of which ron looks like doing
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much, much better job one of the problems we had with exxon mobile, of course -- hurt them as well -- >> thank you so much, bill flynn on oil this morning, final comments from you stephanie pomboy when you look where energy is does that the a potential to cut into growth given the fact oil prices up above 60. >> sort of perverse, because the in issue effect is to boost the headlined numbers you know if consumers suddenly you have got to pay more at gas tank you pay that, then when you realize those prices are not coming back down you have to cut back somewhere else ends up having a depressing affect later on the initial impact is to inflate both inflation and spending numbers which is another reason why i think the near-term numbers could continue to surprise on the upside. >> we we leave it there. >> thank you so much, the advance reading first quarter gdp 3.2% much higher than expectations, 2% stuart varney will weigh in on that.
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>> gdp number out beat expectations up 3.2% growth wildly better than anybody expected joining us now host of "varney & company" stuart varney to weigh in, how about that number stu.
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>> i loved it i wonder what democrats are going to think i mean here they've gone full tilt to socialism, just as expect alism turned over goodies 3.2% growth first quarter what is joe biden going to say what is first thing out of his mouthing when someone says 3% growth first quarter of the year wasn't supposed to about like that still going for tax degree of this for more red tape what about bernie so unfair we have to changing whole system move away from capitalism, go to socialism? when you got 3% growth in first quarter of the year? come on! >> this is just a prize landed in president trump's lap he created this. make no mistake. >> he has regulation tax reform we know these kinds of policies work you had 4% growth second investigatory last year 3 and water% growth this quarter give me a!
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when is reception. >> capital investment in software 8%. >> 8.6% put word out. >> there you go this is he prosperity. >> "varney & company" top of the hour 9 automate eastern first we are looking at some pain at pump live to california gasoline prices soaring historic highs you don't want that to cut o o into economic growth we are all over it next. >> ♪ ♪ don't get me wrong, i think you are all right but ♪ ♪ the leading luxury suv of all time. lease the 2019 rx 350 for $409 a month for 36 months. experience amazing at your lexus dealer.
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maria: we are great gdp numbers up 3.2% gasoline prices up across the countrytory skyrocketing in california about robert gray with more on that good morning to you. reporter: good morning, maria. if you drive higher gasoline prices at pump may not be breaking news, a quick move we saw them raising the prices, here at this station, not just a little bit, up 20 cents a gallon, 3 dollars for fillup of tank extra you are paying, take a look at prices nationally spiking to highest since halloween almost 3 bucks a gallon in california higher topping four bucks a gallon go to august 2014 to see how high highest it was then one of the reasons taxes a dollar extra in ka governor gavin newsom calling for investigation into
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what maybe inappropriately practices in the industry shutting down for maintenance or other issues kooem prices typically jumping this time of year ramping into memorial day a month abay experts say the jump is going even higher. >>, of course, we are used to paying higher prices being here in california. and on the west coast. but the double-digit increases we've seen over the last couple weeks have really given a lot of drivers a sense of sticker shock. reporter: we are getting close to 5 bucks a gallon here for most expensive gasoline sticker shock even for those of us who live here. maria: i think california lawmaker need to take a look what happened when federal government cut taxes, and how it moved the needle on economic growth, we will be watching that thank you. >> robert gray in l.a., still ahead border crisis i am headed to u.s.-mexico border this weekend i will be live for a special edition of
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"sunday morning futures," joining me live sunday morning 10 a.m. eastern as i walk the border, and take a look at the activity in terms of apprehensions a million apprehensions this year crossing into united states, 70% people coming from guatemala, honduras he will sal zor we are back in two minutes' time stay with us. ♪ hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪
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going back to the doctor just for a shot. with neulasta onpro... ...patients get their day back... ...to be with... ... family... ...or just to sleep in. strong chemo can put you at risk of serious infection. in a key study... ...neulasta reduced the risk of infection from 17%... ...to 1%... ...a 94% decrease. neulasta onpro is designed to deliver... ...neulasta the day after chemo... ...and is used by most patients today. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to it or neupogen (filgrastim). an incomplete dose could increase infection risk. ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome... ...have occurred. report abdominal or shoulder tip pain, trouble breathing... ... or allergic reactions to your doctor right away
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in patients with sickle cell disorders, serious, sometimes... ...fatal crises can occur. the most common side effect... is bone and muscle ache. ask your doctor... ...about neulasta onpro. pay no more than $5 per dose with copay card. maria: big week next week. be sure to join us monday for my exclusive interview with steven mnuchin here on "mornings with maria" 6:00 a.m. on monday. we will have a special edition of "sunday morning futures" this weekend. i will be live at the u.s. border with mexico. join me live at 10:00 a.m. eastern on the fox news channel. big number on gdp, guys. >> impressive. >> yeah. maria: they will have to come up
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with something else to take down trump. it's not going to be the economy. >> we were talking about how the democrats are going to counter. that's a big number they have to contend with. maria: 8.6% in terms of ip spending. great to see everybody. have a great weekend. "varney & company" begins right now. stuart, take it away. stuart: good morning, maria. good morning, everyone. how did our economy do in the first three months of the year? very, very well. an expansion rate of 3.2%. look, i don't play the expectations game, but this is way beyond what was expected. the period right after christmas was supposed to show a downturn. well, it's anything but. question, why is socialism taking hold among democrats when capitalism is doing so well? i repeat, 3.2% growth first quarter. let's see the impact, left-hand side of your screen, here's the markets. we were flat to lower before the number came out. we are still pretty much the

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