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tv   Mornings With Maria Bartiromo  FOX Business  April 29, 2019 6:00am-9:00am EDT

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and what it could mean at shareholder meeting. big technology companies reporting this week, google parent alphabet today and apple coming out tomorrow. the big job's report at tend of the week, we have full analysis, all of the above, this is going to be one heck of a week, a lot coming up this morning. markets look like, this futures indicating the markets will open mix, dow industrials up 5 points, nasdaq down. biggest week so far. last week nasdaq and s&p 500 closed at record highs after the gdp came in better than expected, 3.2% growth for the first quarter. in europe this morning take a look at indices throughout europe after the very strong day on friday on wall street, european indices are trading
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lower, ftse down 18 points, 20 points and dax index in germany lower by 36 points this morning. in asia overnight, japan was closed, holiday as you see there, shanghai composite was lower in china, best performer was korea. and our top story right now, i sat down for exclusive interview with treasury secretary steven mnuchin, we covered a wide-range of topics including the u.s.-china trade negotiations, the secretary is leaving today for beijing, we also talked about the usmca deal. the story in wall street journal raising new questions and the administration knee-deep in conversations there. we begin with the secretary's reaction to first-quarter gdp. >> it's a result of the president's economic program, so this was tax cuts, tax reform,
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regulatory relief and trade deals and, you know, not only was it a great number but the first quarter is normally 1% lower than usual and the government shut down probably cost 30 basis points, this is really like a 4 and a half percent on the quarter. maria: that was incredible, how do you keep this going, how much of runway in terms of providing boost in the future? >> well, maria, last year a lot of people said we would never get to 3% and we did, people said the economy would slow down, the president's economic program will continue to show strength throughout this year and the u.s. is really the bright spot of the world. we see europe and china, we see tremendous amount of money coming into the u.s. economy and i think it looks very clear for the next -- the next year over last 4 months ambassador lighthizer and intraagency team
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has done extraordinary job, we have made more progress than ever before. this is a real agreement, if we get to a completed agreement it would have real enforcement provisions. there's still some important issues. we still have more work to do, i think we spent a lot of time, we expect to have meetings this week, the vice premier will come with his team the following week. i think there's strong desire from both sides to see if we can wrap this up or move on. maria: wrap this up by when? >> well, again, we hope within the next 2 rounds of -- of in china and in dc to be at the point where we can either recommend to the president we have deal or make a recommendation that we don't. maria: what's most important to you, is it most important that china opens up markets to american companies, is it more important that they not steal ip, forced transfer of technology or they buy more stuff from the united states or that they stop espionage? >> well, maria, i think that the most important issue is that we
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have a rebalanced economic relationship. the u.s. has been completely opened to them for investment and for goods. we want to have a reciprocal trading relationship and if we can do that, that's a tremendous opportunity for u.s. workers, for u.s. companies to sell into a large-growing china middle class. if we can get this right, this will completely rebalance the economic relationship and we have made a lot of progress, we couldn't be more pleased with the usmca, we spoke the speaker bring to the floor so we can get that passed. we signed agreement with south korea, we are having conversations with europe about trade issues, we are having conversations with china and, yes, we are having conversations with japan. i met with the deputy prime minister on thursday, we had a good discussion on trade and economic issues, ambassador lighthizer has team leading discussions and we want to make sure that our farmers are being
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treated fairly and that their markets are open for our agriculture and other issues. maria: and the president was very clear, he doesn't want those tariffs or levies on u.s. agriculture and if they are remaining there, he would consider putting tariffs on autos coming out of japan, right? >> i think the president will look at all of his options but he fundamentally wants to make sure we have balanced and reciprocal trading relationships and as you know, we have a deficit which japan and the president is looking for fair and reciprocal access. maria: much more of my exclusive interview with treasury secretary steven mnuchin this morning beginning at 7:00 a.m. hour, join us for a lot more from the treasury secretary. joining me right now the fellow curtis chan. first i want to talk about china, what from your standpoint
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will be good deal? >> really it's about rebalancing the relationship. china has taken advantage of the trading system that's so open here in the united states but far from open in china, we want to see steps moving forward with regard to reciprocity. maria: i agree, you have to see a better balance in terms of trade, in terms of beijing buying u.s. goods and you want to see the market there open for u.s. companies, what about the big-ticket items, forced transfer of technology and ip theft, is the u.s. will be able to get ahead of that? >> that certainly is my hope. i used to work for beijing for many years and now i'm based in asia with the milken institute, china is not gaming the system but taken advantage of the system. has not really shared prosperity in the region.
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when grow to china, you see u.s. logos, they are not paying the appropriate fees, that has to change and the change will be before the better man of both china. maria: what about the whole espionage issue, huawei, telecom, another area where it's cultural almost and i don't know if u.s. is going to be able to move the needle here, beijing in terms of huawei, beijing defending the telecom company as china's ambassador in london says that the uk should use own decision and resist pressure from other countries obviously meaning the united states, the u.s., australia and new zealand it's a risk, this report in journal this morning, cyber theft efforts are becoming more common, what's your reaction to the whole issue around hua work ei? >> sure, very serious issues. the point what people say is cultural. look at a place like taiwan, not
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a chinese culture thing but could be communist party's behavior. world has to stand with canada in this battle with china over really what is a huawei senior executive who has been arrested in china, less about property right issues but evading sanctions on iran. we clearly need to hit this issue, is this company a security risk to the united states? maria: real quick, one of the lead stories in the journal this morning is raising new questions about a deal with méxico and canada, usmca, how big of a blow would be if that doesn't get ratified fairly soon? >> clearly we all want it to be ratified very soon. this administration clearly is on the move in the area of trade, we are seeing progress with china, how important is that? clearly political year and what is good for america this deal needs to be pushed through our
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u.s. congress. maria: we will be checking with you throughout the morning. we are happy that you're with us all morning, curtis chang, deadly crash of 3 boeing 737 max planes, cheryl. cheryl: good morning, maria, could be rough day for boeing, did not tell pilots when pilots began that turned off system about faulty sensors until after the lion aircraft in october. the safety feature was used on earlier models of popular jet, boeing did not notify faa about the change, business closure could come up today at boeing annual meeting protest expected, there's going to be more losses, we expect, maria, stock is down quarter percent in premarket. well, the official line from apple wants to help you fight iphone addiction but some companies say that's not the case, new york times reporting
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more than half of the most popular apps used to fight iphone addiction have been removed or restricted from the app store in the past year, reports say restrictions include removal of features that help control parents control devices. apple has included screen time tools with latest ios updates, earnings tomorrow, stock slightly higher in premarket. then there's this, the big story in hollywood, avengers end game has destroyed the competition and broke box office records possibly raising the bar for hollywood's film, blockbuster took in $1.2 billion globally in first weekend alone. we have never seen a number that high. avengers setting new record for the fastest film to earn 350 million cutting star wars the force awakens record by half, maria, look at this, shares of disney picking up where they left off on friday, sharply high -- on premarket, up about 1 and a half percent,
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maria, that's the la story, global story right where you are is disney. maria: yeah, you're right. big numbers, incredible weekend, thank you, cheryl. quick break, right after this exclusive interview with president trump, we discontinued the growing crisis at the border, what is being done about it, will we see a change in immigration law this year? busy week for investors probably one of the busiest as we lead to april job all you need to know stay with us.
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other bird that looks exactly like him.
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ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ maria: big show this morning live from milken institute in los angeles, my exclusive interview with president trump, more of my exclusive interview with treasury secretary steven mnuchin is coming up.
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former california congressman darrell issa along with judge andrew napolitano and ceo of cane international, jonathan goldstein, big 3 hours, don't miss a moment of it, investors are bracing for a huge week ahead, we are waiting on personal income and spending numbers this morning, due out at 8:30 a.m. eastern and after the closing bell today you have earnings from google parent alphabet, that's first-quarter earnings, we are watching technology, companies including apple, apple will report quarterly earnings on thursday. look at the list of earnings coming out this week, probably the busiest week so far. u.s.-china trade talks kicking off tomorrow in beijing, treasury secretary mnuchin leaving for beijing this morning along with trade representative lighthizer, we will learn on
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wednesday, we want to know what the guidance is, what we can learn from jay powell in terms of interest rate cuts and what he's thinking about inflation right now. all that leads up to april job's report coming out on friday. big week ahead, joining mel to talk more about all of the above mitch roschelle, mitch, great to see you. >> good morning. maria: what a week. >> i'm listening to you do the intro, like what isn't happening this week. maria: exactly. >> breaking news on top of all of it. maria: what's most important to you, mitch? >> i think it'll be interesting to end to the front, we have jobs on friday and then today we have pce which is the inflation that fed uses, those are the two things that fed looks to, they are trying to make sure that wages are growing and that the employment base is growing, also trying to moderate inflation, right in the middle of it we have the fed meeting, i think this week even though we have a week full of corporate earnings,
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i think what happens with jobs, what happens with inflation will give us indication, give market indication what the rest of the year will look like and what the rest of the quarter will look like in terms of what the fed is going to do. maria: federal reserve is trying to get to 2% target on inflation and not happening, we are not seeing inflation, just to that alone we are wondering fed will cut rates, cut, complete change from where we were last year. mitch, we will keep reaching you throughout the morning. my ride-along with the border patrol agents this weekend, wait till you see what we saw, that's coming up and then president trump weighs in on the border, the wall that was built here in el paso and you saw picture, my exclusive interview with the president about that coming up stay with us
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maria: welcome back, we are coming to you live this morning from the milken institute global conference in california, quite a weekend for this team, we visited the southern border at el paso, texas yesterday, riding along with u.s. customs and border patrols assisting chief border patrol agent josé martínez, he gave me up-close look at how he and fellow agents work to secure the border, watch this. so tell us a little bit about where we are going right now? what are we going to see right now, more than 11 miles? >> 11.4 miles of river and land
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border. this area is -- belongs to el paso station, one of the stations. this area is probably the busiest areas in the country with illegal entries. maria: when you say a lot of activity, what are we talking about on a daily basis? >> for the most part single adults, usually from -- cuban, family units are some cuban but for the most part they are guatemalan, will salvadorians, hondurenos, from nicaragua, the northern triangle region. maria: why so much activity from just those 3 countries, is the word out that if you're coming from that region, you're going to probably be able to stay?
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>> the word is definitely out. i mean, they have advertisements by radio, you listen to your radio on your way to work, on your way to the grocery store and that country is advertising, if you want the american dream we will help you out, we will help you, teach you how to get it in the united states. maria: where are they going, do we know where they are going once they actually get into america? >> they are going to the -- the city i saw the most dallas, houston, boston, atlanta, new york, all the big metropolitan areas. that's final destination. maria: they can't be tracked? >> that's not our job to do. that's ice's job, i can't speculate on that or comment on that because -- maria: right. >> right across the river they look for an agent.
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maria: the river is dry right now. méxico is right over there. >> yes, ma'am. and then of course they run up. maria: who is this running up here? >> a family group that just crossed. maria: family crossing while we are right here right now? >> yes. maria: where where. >> you going to go, where is your plan, where were you going to do? [speaking in spanish] maria: did somebody tell you in honduras that you'll be able to stay and get to oklahoma if you crossed? [speaking in spanish] >> a lot of people told her.
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you have another group over here. they walk and find agent. maria: they want to see you right now? they want to get apprehended, they want to get processed. >> they want to get processed and given the papers. maria: the girls are screaming and they ran and they were able to prevent them from being kidnapped. they are by themselves. [speaking in spanish] maria: how long have they been by themselves? >> 10 years of age. maria: 10 and 8. you've been traveling alone for how long? [speaking in spanish] >> okay. they were traveling, their mom
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sat them down, she said she will go buy something for them to eat and never returned. maria: how long has she been traveling with the baby? [speaking in spanish] >> two months. maria: 2 months. [speaking in spanish] >> the baby is hungry right now because she hasn't eaten and she can't produce any breast milk for her child to eat. maria: what danger the kids consumer. >> undoubtedly, ma'am, undoubtedly. 10 years and 8 years of age. maria: the infant is in mother's arms. the whole area was being controlled by the drug cartels? >> yes.
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as a result you have children coming out, goes down 4 feet, 18 feet high. inside it's usually hollow. we fill it up with concrete. there's nothing hallow. completely solid. maria: drug cartels in mexicano exactly the border, know exactly the vulnerabilities? >> yes. maria: that's it, they just know. >> of course, they are the ones that are winning this. maria: what do you say when you hear in the media, this administration, the border control, ice, putting kids in cages, they are looking people up, these are humanitarian crises, what do you say to them? >> i say first i'm a father, i'm a father of 2 children, i go home with my head held high, all
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i can do is do my job and do it to the best of my ability and that's what we do as an agent. all agents. maria: incredible scene, my thanks to josé martínez, we will take a quick break, when we come back battle of the border, my exclusive interview with president trump over immigration, the president giving his thoughts on crisis at the border and what he says congress can do about it right now. nearly 600 flights canceled due to pilot crisis, details coming up.
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milken institute global conference. note ♪ maria: welcome back, good monday morning, thank you so much for joining us, i'm maria bartiromo, it is april 29th, top stories right now 6:31 a.m. on the east coast. focus on trade and the economy this morning, new questions about usmca an wall street journal, my exclusive interview with steven mnuchin on his take on better than expected economic growth. >> not only is it a great number but the first quarter is normally 1% lower than usual and the government shot down probably 30 basis points. maria: more on trade coming up including usmca agreement, would it get ratified, all coming up. also the treasury secretary told me they are working right now also on deals with japan and europe, then there's this, the battle over the border, exclusive interview with
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president trump about the growing crisis that i witnessed firsthand this weekend at the border in el paso, texas, there you see the wall which ends, it just ends and creates vulnerability but there are drug lords and cartels right behind that which are issue for migrants trying to pass. the president says that people are illegally pouring into the united states partly because the economy is so good here and they are looking for opportunity. pilot strikes, travelers getting hit hard, canceled hundreds of flights this morning after pilots walked off the job. we will tell you how drivers are being rewardedded with crypto currency this morning, plus markets are mixed this morning, futures indicating the markets will open exactly where it closed on friday after pretty good rally, s&p 50 is down 1 and a quarter and nasdaq down and
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and two quarters. 3% growth in the first quarter. in europe this morning markets are mixed, take a look not a lot of momentum after big rally on friday as you see across the board lower, ftse 100 down 11 and a half points. dax index in germany lower by 36. in asia overnight, reaction and really it was korea that was the standout, the others fractionally moving. japan was close for golden week the holiday there. top story this half an hour, border battle. i was live on u.s.-méxico border for sunday morning futures yesterday where i got firsthand look at crisis. president trump called in for exclusive interview to talk about what can be done. joining us right now on the
quote
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telephone the president of the united states, president donald trump and mr. president, thank you so much for calling in this morning. >> well, thank you, maria. maria: we are on the border here and while we were standing, mr. president, we saw at least 3 groups, different groups that crossed the border illegally and were apprehended, why are these numbers soaring so much today? >> well, people are pouring up because our economy is so good. i mean, unfortunately it's the only bad part about what we are doing because everybody wants a piece of it and they are willing to come up and take the risk in this tremendous danger and our laws are so bad the combination of having a great economy and having weakest immigration laws anywhere in the world by far and we have catch and release and we have chain migration and visa lottery, we have things that nobody in their right mind would have, we are trying to get rid of them. the democrats won't do it. we need some democrat votes, unanimous with the republicans but we need some democrat votes an they go out of their way to
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allow these people to come in and when you get tough, when you do all of the things that we have to do, they end up arresting border patrol people, it's a disgrace to country what's going on, the worst immigration laws ever, incompetent, they are there for a long time, when they used to separate children which was done during the obama administration, with bush, with us, with everybody, people would come and we've been on a humane basis pretty bad. we go out and we stopped the separation, the problem is you have ten times more people coming up with their families, it's like disneyland now. before you get separated, people would say let's not go up, now you don't get separated and, you know, while that sounds nice and all, what happens is you have literally ten times more families coming up because they're not going to be
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separated from their children. so turned out to be -- maria: yes. >> obviously a disaster, it's a disaster, yeah. people coming up with many children. now we know where everybody is and we are moving people out so fast, the problem is we have to register and bring them to court, another country says, sorry, you can't come in the country and they walk them out n. our country we have to bring them to court, we have to have terry mason involved. it's all legal, you have lawyers standing at the border, our people, lawyers, wise guys, standing at the border signing people up every time they get and try to blame border patrol. it's a disgrace what's going on and could be solved in 15 minutes if the democrats would give us the votes, we are building a lot of wall, we will have 400 miles of wall by the end of next year so the wall is going to be --
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maria: yeah. >> it's going to be great, top of the line too. top of the line but it's beyond -- maria: it's interesting because we are standing -- >> we see things, maria, that you wouldn't believe. maria: we are at this wall, but you know the wall ends here, mr. president, there's a whole areas that's vulnerable and wide open where there are mountains and what i was told by the border patrol agent was when the migrants want to cross first they have to deal with the mexican drug lords and you can't past go before -- until you give me money, first give us money and then you can go proceed and get detained by border patrol and the border patrol agents are totally, you know, kids are coming sick and they have to leave their post, take these kids to the hospitals before processing because they've been on their feet for 3 and 4 months. >> big business for cartels, became bigger over the last 10 years and the cartels are really dominant now and paying everyone
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off and rough, our border patrol and ice agents are incredible. we are moving thousands and thousands of ms13 out of our country that were let in here years ago and out of our country. now, we could only hold so much in massive storage areas and we could only hold so much. we are building bigger storage areas. what we need is new laws that don't allow this. when somebody comes in, we say, sorry, you need to go out. we don't need a court system. we have a court system that has 900,000 cases behind it. in other words, they have a court which needs to hear 900,000 cases, how ridiculous is this? this has been building up for years, many years and it's just the system that congress can fix, maria, they don't get off their ass and it's the democrats that could solve it so quickly because we will have all of the infrastructure and i will have
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the wall up by the end of next year most of the wall will be up, where you are, where the wall ends, that's part of the wall that we are building, in other words, where the wall ends that's the weak spot, it's like water, they come through the weak spots. a lot of those are being taken care of. they'll all be taken care of fairly quickly despite the fact that it's like pulling teeth dealing with the democrats. i have to go different routes to get money. i used to build buildings, good times, bad times you build buildings, this is great times but getting money for a wall, they give me money for anything i want but as long as it has the word wall -- i'm building the wall. maria: exactly. >> frankly if they would change the laws it would be a whole different scene and could happen so quickly. maria: so realistically, mr. president, when would you expect that because senator lindsey graham came on the show 2 weeks ago and said i'm going to cam back from recess and put
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together a package and work with the president to change the loopholes and change the immigration law, do you see that happening in 2019? >> yeah, lindsey has been great, we have package of things that we are asking for and we are actually going for much bigger package, rather than the little things which are not little at all in terms of importance but we are making a plan where we really talked about immigration laws that are much larger scale and we also have a plan for people coming in because, you know, we have so many companies coming in the united states because of my plan and because of our tax cuts and the tax plan, it's called really tax cut and job's plan, we have so many companies, you know better than anybody, you cover it better than anybody, you saw the numbers yesterday, 3.2% gdp, nobody believed them. even you were surprised. you don't know me well enough, i guess. [laughter]
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>> great numbers. we have companies pouring in. the problem is we need workers and we are doing a plan based on merit where people come in, maria, based on merit so they can help us, they have skills, they have talent. we have people coming in under these crazy laws that, i mean, if they need welfare or if they need handout for the next 50 years, they're almost incentivized, those are the people that we are supposed to be taking and we take as few as possible of them i tell you. the way the laws are it's brutal. they start arresting border patrol people and these incredible people that are doing such a good job. if they want to do anything, they want to be cute, it's really a disaster, whoever approved this stuff had no common sense or they hated our country, one or the other. maria: wow. well, i met a migrant woman yesterday and she said she was fleeing for political asylum and then i said well tell me a little more about what you --
Check
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what you're fleeing from, well, i just really want to have more opportunity for my daughter, so it wasn't fleeing, you know, fleeing anything, it was just that she sees economic opportunity in america and the border patrol agents are totally overwhelmed and look what happened in this tragedy, in the synagogue when you had an off-duty patrol agent actually get engaged with the shooter who was absolutely incredible? >> what's going on, people wouldn't believe. the scene that is we see, what happens in terms of all of that you wouldn't believe. that's another whole story, but we can solve this if the democrats would sit down and stand a short period of time on basic things and we have to get to a much bigger policy too overall immigration and what's really unfair these people come in and you have catch and release, release them. we are releasing them into sanctuary cities almost
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exclusively, sanctuary cities want them, but once we started releasing them they didn't want them. so they want them, they talk good game but once you start saying, okay, congratulations, here are some, and they don't want them and they fight very hard. so the whole sanctuary city thing is a big scam. maria: my thanks to president trump, the rest of my exclusive interview with the president coming up in 7:00 a.m. hour, stay with us for that. much more ahead including jaguar's venture into crypto, that's next
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maria: welcome back, headlines across america this morning, daily press reporting this morning all 5 men rescued after getting trapped in a virginia cave, the men becoming trapped in cave near the town of cleveland after rain dampened plans to camp saturday. all recovering from hypothermia and fatigue. kim fox to appear in hearing in jussie smollett case. former appellate judge now seeking the appointment of special prosecutor, they are investigating how jussie smollett case was handled and he has cook county state attorney kim fox and top deputy to appear at hearing this upcoming week and notice to appear also filed in an effort to get the actor to attend as well. and florida today this morning is reporting that weather looks good for spacex launch from cape
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canaveral, mother nature appears to be cooperating after falcon 9 takeoff, set for wednesday, dragon spacecraft carrying supplies, cargo and science experiment to international space station, mitch roschelle in new york, what's your take on that? >> that's interesting, with all of the talk about technology being a bad thing at times i think watching rocket take off is a great thing and we shouldn't lose sight of, you know, the american i think ingenuity. maria: i know lauren simonetti is with you. lauren: good morning, maria. maria: your thoughts? >> let's see if elon musk can make it work this time. another rocket trying to go to international space station. maria: it's interesting because china wants to go and have people in space as well, innovation run is impressive and
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nice to see the u.s. in the lead, curtis chang, jaguar's new venture into crypto currency, more on the company's new rewarded system, more after the break, stay with us kevin, meet your father.
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maria: president trump just tweeted on the tragic shooting at california synagogue, he said this moments ago, i spoke at length yesterday to rabbi goldstein of poway where i extended my warmest condolences by all affected in california.
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what a great guy, all he wanted to do was help others, very special writes the president this morning. meanwhile news on the election in spain, spain's ruling socialist party winning that election, cheryl casone with all the details now and i think they got 75% of the vote, cheryl. cheryl: incredible, maria, excuse me what happened here so the headline is that the socialist party in spain won 120 seats in the 350 seat congress, they failed to secure majority. now, the socialist party must get support from smaller rival parties just to pass any legislation. big changes in government. pilot strike now in fourth day with 1200 flights canceled for today and tomorrow, walkout disrupting travel plans for more than 110,000 people, the job action began on friday after talks with the airline and pilot union collapsed.
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well, jaguar land rover getting into the crypto business, allow drivers of cars to be warranted, drivers can use rewards money to pay for tolls, parking and charging their electric vehicles, sounds like waze to me, maria. >> socialism is trying to redefine itself. strength of america is capitalism and innovation and in los angeles, how we need to redefine capitalism. maria: you have people that say capitalism needs to be reformed.
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jamie dimon also talking about it all because of incoming inequality but isn't it true that capitalism in current form lifts people from poverty? >> absolutely. maria: economic growth doesn't? >> all around we think about, it's business that creates jobs and not government. that doesn't mean you can reinvent things we do in america. one specific example is corporate governance, quarterly reporting perhaps drives decisions that maybe aren't necessary for the long term. maria: good point. >> even here we have we have chairman and ceo's of the company -- maria: great point. we will keep watching that. still ahead more of my my exclusive interview with president trump and more of my exclusive interview with steven mnuchin, next hour right here, mornings with maria live this morning from the milken
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>>announcer: live froms los angeles, at the milliken institute global conference, here's maria bartiromo with a special edition of "mornings with maria." maria: welcome back. thanks for joining us. i'm maria bartiromo. it is monday, april 29th. we're coming to you live from california this morning at the milliken institute conference. your top stories right now. trade is in focus today. my exclusive interview coming up with treasury secretary steven mnuchin. >> we made a lot of progress. we couldn't be more pleased with usmca. we hope to see the speaker bring it to the floor so we can get it passed. we signed an agreement with
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south korea. we're having conversations with europe about trade issues. we're having conversations with china. and yes, we are having conversations with japan. maria: new information on japan coming up. more on trade, the gdp, the recent attacks on capitalism, all right here with the treasury secretary. meanwhile, the battle at the border continues. my interview with president trump coming up about the growing crisis i witnessed at the border between the u.s. and mexico in el paso, texas. the president says people are illegally pouring in because the u.s. economy is so good. boeing is reported to have not advised the airlines or the faa that it shut the warning system off on the 737 max. what it could mean as the shareholder meeting kicks off today at boeing. we are also watching earnings. this is probably the biggest week so far for first quarter
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earnings. big tech companies are reporting this week, including alphabet today. tomorrow it's all about apple. we've got a preview. we've got the big jobs report at the end of the week. look at at that week, not only earnings, we've got the federal reserve meeting, we'll get fomc decision on wednesday and trade talks as mnuchin heads to beijing. full analysis on what is one of the most important weeks this week for investors. ahead of it all, investors are looking at a down market. dow industrials are down 19 points, s&p futures down 2 and nasdaq lower by 6. last week the nasdaq and s&p 500 closed at record highs after the gdp came in better than expected. the economic growth clocking in at 3.2% for the first quarter. it was much better than most expectations. that's why you had a rally in the dow of 81 points at the close on friday, 27 points higher on the nasdaq. this morning in europe, the indices are lower, fq100 down 9 points, cac in paris lower by 15 and dax in germany down by 35 points, one quarter of 1%.
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in asia overnight, there's a holiday in japan. that market is closed. as you can see, the best performer was korea, up 1 and three quarters percent. the upcoming u.s.-china trade talks are on. the nikkei average closed for japan's golden week holidays as you can see with the holiday there. joining me to break it all down, coulincoming up, lauren simonets in new york, mitch rochell is also in new york and curtis chin. great to see you this morning. happy to get your insights on all of the above. busy week this week. we've got a lot to talk about. we are on it. our top story, my exclusive sit-down with treasury secretary steven mnuchin. we talked about a wide range of topics including trade negotiations across the globe and fears of a potential recession have certainly moved off of the front page. policy moves at the fedal rail reserve still a -- federal reserve still a focus. we began with president trump's policies and the growth they've
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spurred. great first quarter, 3.2% growth. to what do you attribute such vibrancy? >> it was very impressive. it's a result of the president's economic program. this was tax cuts, tax reform, regulatory relief, and trade deals. and not only was it a great number, but the first quarter is normally 1% lower than usual. and the government shutdown probably cost 30 basis points. this is really like a 4.5% unadjusted quarter. maria: that's incredible. how do you keep this going how much of a runway do the policies have in terms of providing a boost in the future. >> last year, there were a lot of people who said we would never get to 3%. we did. there were people who said the economy would slow down. i think the president's economic program will continue to show strength throughout the queer. thyear.the u.s. is the bright sf the world.
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we see tremendous amounts of money coming into the u.s. economy and i think it looks very clear for the next. maria: what about europe's slowdown? a lot of people feel like that has to hit the u.s. at some point. how significant is that slowdown in europe? >> well, there's no question that the slowdown in europe and china has had some impact. it goes to show how strong the u.s. economy is doing. so again, i think we would be even stronger if it weren't for that. i expect that's a modest impact. maria: do you p think the corporate sector is showing the strength more so than the consumer? is the consumer shaky? how would you characterize each sector, consumer versus corporate. >> as you look at each quarter, we've seen a variation. i think as you look at it over the time period, we've seen the consumer as well as the business sector perform extremely well. we continue to see a lot of investment in the us. we see more jobs. we see the participation rate going up. we see wages increasing. so this is an across the board
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expansion. maria: wages are increasing. better than 3% year over year. and yet the fed can't even get the inflation that it's targeting of 2%. what's your take on inflation right now? >> well, maria, that's good news for the u.s. economy to have this environment where we have low inflation and good growth. that's really the perfect condition we want to continue the expansion. maria: is that why larry kudlow is asking for a cut in interest rates by 50 basis points? if things are going so well, why is kudlow asking for the fed to lower rates? >> maria, you know in my position as secretary of the treasury, i have to respect the fed independence. i'm not going to comment on interest rates. maria: how about commenting on kudlow? >> i'm not going to comment on kudlow commenting on interest rates either. maria: all right. well, the federal reserve is obviously right now saying it's out of the way, it's not going to be doing anything. but at some point with all of this strength in the economy, you would expect rates are going to go up and yet they're going down. >> well, maria, if you look at
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the end of last year, the market expected rates to go up another 100 basis points. the markets now adjusted those expectations. as a matter of fact, at certain points there's been expectations in the market of a rate cut. i think the fed has said they're going to be data dependent. we'll see how the data comes in and how they react. maria: did it matter we saw the inversion, the two year versus the 10 year yield? usually an inversion like that indicates a recession is at hand. >> i said i wasn't concerned about the inverted yield curve. i continue not to have concerns about any of that. yield curve just reflects markets. sometimes markets are efficient, sometimes markets aren't efficient. i don't think that was ever predicting a recession. i think it was predicting what people expected future interest rates to be. there's a lot of talk about recession at the end of last year. there's no talk about recession now. maria: these number these -- s
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indicate a different situation. what is the ideal situation in the next round of talks with china? >> we've made a lot of progress. we've talked about this for two years, starting with president trump and president xi at mar-a-lago talking about a desire to have a rebalanced trading relationship. that's something president xi agreed to. over the last four months, am bass r door lighthizeambassadora large team has done a great job. we've made more progress than ever before. it this is a real agreement, if we get to a completed agreement it will have enforcement provisions. we have more work to do. i think we spent a lot of time, we expect to have the meetings this week. the vice premier will come back with his team the following week. i think there's a strong desire from both sides to see if we can wrap this up or move on. maria: wrap this up by when? >> again, i think we hope within the next two rounds in d.c., toe
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point where we can either recommend to the president we have a deal or make a recommendation that we don't. maria: what's most important to you? is it most important that china opens up its markets to american companies? is it more important that they not steal i.pp., forced transfer of technology, that they buy more stuff from the united states or they stop espionage? >> the most important is that we have a rebalanced economic relationship. the u.s. has been open to them for investment and for goods. we want a resig reciprocal tradg relationship. this is an opportunity for the u.s. to sell into the china middle class. it would completely rebalance the economic relationship and be a great opportunity for the u.s. economy. and there's seven different chapters. it's not one or two issues. we have talked about forced
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technology transfer, intellectual property, those are very important issues. agriculture is very important to the president, making sure that farmers are treated fairly. financial services, currency enforcement, there are major provisions in the agreement. maria: are they going to stop stealing i.p. from america? >> we would absolutely expect them to. maria: if you gotten the enforcement mechanism done? is that agreed upon? >> the enforcemen enforce enfors close to done. it needs fine-tuning. we have a fundamental understanding in that area. maria: what can you say about china's economy and the impact on the u.s.? >> there's no question that china is slowing. but again, i think that opening of their econom economy and thee reforms is important for their own growth, not only good for the u.s., but will be good for them from a domestic standpoint as. maria: is the president willing to remove all tariffs? >> imnot going to comment on the specifics of our negotiations
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and what the president may or may not be willing to do at a specific time. maria: what about the espionage issue? there was a story in the journal the other day that basically says china is growing increasingly aggressive in spying on the united states and the journal says it has become washington's single most important counter dashe- espi. s is this part of the talks? >> those issues are separate from the trade and economic issues. those are not part of the discussions we're having over the next two weeks. but there are discussions going on between us and chinese government on many important issues. maria: look, huawei has been a big issue. the president has not been shy about telling us that if the europeans, if africa is using huawei telecom, then the u.s. will not share as much information with them. so clearly there has been he's he pea naespionage and trade ses
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stolen. >> the president is determined to make sure our communication system is secure, whether that's china or anyone else, the president is going to make sure we build out the most advanced communication infrastructure in a very secure way. maria: let me ask you about japan. the president was with japanese prime minister abe last week. is he willing to consider putting tariffs on autos coming out of japan? >> maria, as you know, the president has us he focused on trade issues across the board. we made a lot of progress. we couldn't be more pleased with usmca. we hope to see the speaker bring that to the floor so we can get it passed. we signed an agreement with south korea. we're having conversations with europe about trade issues. we're having conversations with china a and yes, we are having conversations with japan. so i met with the deputy prime minister on thursday. we had a good discussion on trade and economic issues. ambassador lighthizer has a team that's leading these discussions
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and we want to make sure that our farmers are being treated fairly and that their markets are open for our agriculture and other issues. maria: the president was very clear, he doesn't want those tariffs or levies on u.s. agriculture and if they are remaining there, he would consider putting tariffs on autos coming out of japan, right? >> i think the president's going to look at all his options. he fund mentally wants to make sure we have balanced and reciprocal trading relationships. we have a deficit with japan as we do in other areas. the president its looking for fair and reciprocal access. maria: once china is completed, should we expect the president next attacks the europeans in terms of a trade relationship and japan, you said you're working on it right now. >> ambassador lighthizer and his team, we have a big interagency teamworking on these issues. the president has us working on all of these simultaneously. maria: that's incredible, that you're working on all of these things together. you're oyou're workingon a deale
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as well as you also do china. >> that's true. the economic team meets with the president weekly to update him on the trade issues. he's briefed on all these issues. he gives us input and direction. as you know, the president is determined to make sure we have fair and balanced trade and wants to see that across the board. maria: the only thing is that p even people who agree with all of your policies, and it's hard not to agree. you've obviously moved the needle on economic growth. the one thing that people say could actually change the momentum, reverse the vibrancy, are issues around trade. do you worry that all of this conversation about the potential for tariffs on japan, potential for increased tariffs on europe in the face of china and all the other issues, is that going to slow down economic growth, reverse this? >> as you know, for a long time many of these countries didn't want to have conversations about changing the trade relationship because as the president said, we were the piggy bank and the
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deals were fair -- not fair to us, they were advantageous to them. the president is determined -- and tariffs have been a big part of getting people to the negotiating table. the president's objective is make sure we have fair and balanced trade. maria: more of that exclusive interview coming up. we'll be right back. this is not a bed... it's a revolution in sleep. the sleep number 360 smart bed, from $999... senses your movement and automatically adjusts on each side to keep you both comfortable. and snoring? how smart is that? smarter sleep. so you can come out swinging, maintain your inner focus, and wake up rested and ready for anything. sleep number is ranked #1 in customer satisfaction
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your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. maria: welcome back. earnings season is shifting into high gears this week. cheryl casone with the details in headlines now. cheryl: it is huge. we are waiting results from five dow components this week. apple, merck, pfizer, mcdonald's and then dow also going to post all of their results this week and we're going to hear from one-third of s&p 500 companies, including alphabet, general electric and general motors. alphabet's results are going to be out after the bell today. the parent of google. that's going to be interesting. there's more, key economic news
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coming out this week. you've got the kaye schiller home prices report out tomorrow, the federal reserve's decision on interest rates, that's wednesday with the press conference and the the april js report will be on friday. get ready. now let's talk about boeing. they're bracing for a storm ian wall meeting today. the company's ceo is facing shareholders for the first time since two deadly crashes of the 737 max jet. boeing reportedly did not tell airlines it had deactivated a safety feature that warned the pilots about faulty sensors until after the lion air crash in october, then they started to share the information that the safety feature was used on earlier models of the popular plane, so some of the manuals the airlines were using were wrong. boeing failed to notify the faa about the change. big day for boeing today. the stock down half a percent in the premarket. staying with airlines. united airlines reportedly covering built-in cameras on
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certain seatback in-flight entertainment screens. the cameras that were on some premium seats were never activated. the company has no plans to use them. the decision comes after passengers began to notice the built-in cameras and they raised privacy concerns to united as well as notifying singapore airlines about those cameras. finally, this. massachusetts' last coal-fired power plant is now rubble. [sound of explosion] cheryl: there it went. the plant burned coal since 1963. it closed in 2017. they noon replace it with a facility that supports offshore wind farms. so, you know, things are changing. there you go. back to you. maria: wow. yeah. that is amazing. that is really a sign of the times. thank you so much, cheryl. backlash from willia will willi.
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there is some pushback about his testimony. i spoke with the president on immigration, next.
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mariamaria: welcome back. president trump defending himself against allegations of obstruction of justice from judge andrew napolitano. the judge questioned the president. the president wrote tweets over the weekend, saying this, thank you to alan dershowitz for destroying the dumb legal argument of judge andrew napolitano. ever since andrew came to my office to ask that i appoint him to the u.s. supreme court and i
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said no, he has been very hostile. also asked for a pardon for his friend, a good pal of low ratings shepherd smith. joining us right now is judge andrew napolitano to respond to all of this. judge, good to see you this morning. >> good morning. this is the way trea you treat r friends, how do you treat your enemies? maria: what happened? did you ask him to put you on supreme court? >> did you ask him to pardon a friend? >> we spoke for about three hours in two meetings. this is when he was the president-elect, about the type of person that should replace justice scalia. in the process of my describing that person and the person i was describing was then judge neil gorsuch, he looked to me and said sounds like you're describing yourself. i said no, no, i'm not describing myself. i'm describing neil gorsuch because you have this list of people from which you want to
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choose and judge gorsuch is the person that i think most of your advisers are going to point to. this is early on in the process. he said tell me why i should put you on. i gave him the spiel, so-to-speak. someone else in the room said that's interesting, the judge is long in the tooth to which the president said blank you to the person who said the judge is long in the tooth. i'm four years older than the judge and i'm about to become president. it was that kind of conversation. so i thought the president -- maria: you don't expect the president to reveal it all. seems like that's what he was doing, even with the pardon situations as well. >> the pardon that he and i discussed is of a mutual friend of his a and mine and he asked me to tell me what the person was convicted of and if i thought that the conviction was just. i described what the person was convicted of. i described that it was just.
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the president used a very strong term to condemn the conviction. and he said you know this person as well as i do. call this person up and tell this person he's going to be on the list of pardons that i will seriously consider. that was the extent of that conversation. maria: unbelievable. >> i thought the president's comments were brilliant. he wanted to divert attention from what mueller had said about him and what i had commented about mueller to his relationship with me. his relationship with me is not the story. we've been friends for 30 years and probably will be for the next 30 years. maria: let me ask about the mueller story. attorney general william barr seems to be threatening he will p skip the hearing on the justice department's handling of the russia investigation from lawmakers go through with a plan to let staff lawyers question him. democrats are threatening a subpoena if barr doesn't appear. he's going willingly. he doesn't have to go and now they're saying that they're not
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even going to be there. they'll have staff question him. what do you think? >> i think they would be there. but it would be demeaning to have staff questioning the attorney general. there's two arguments. one is, this is the congress' hearing and he can't tell them how to run it. it's highly unusual and even improper to have persons other than elected public officials interrogating the attorney general. prediction? they'll work something out. the interest in this testimony is so great, they will find a way to make it happen and we'll be watching on thursday. maria: yeah. all right, judge. thank you so much. judge andrew napolitano. appreciate that. quick break and then the border crisis, more on my visit to the southern border in el paso, texas yesterday. i got a look at how agents are working to secure the border. i spoke with president trump during the day. his take, coming up. then there's this, mark zuckerberg's newest invention made for his wife. we'll take a look. stay with us. hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need.
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>>announcer: here again is maria bartiromo with a special edition of "mornings with maria." live from los angeles at the milliken institute global conference. maria: welcome back. we are covering the battle at the border, part two of my interview coming up with president trump about the growing crisis that i had a chance to witness firsthand yesterday at the border in el paso. the president spoke about the potential upcoming testimony of attorney general william barr and the the pending usmca deal. we begin with the border. >> now what's happening is the economy is so good, it's probably the best economy -- you report it's one of the best economies that we've ever had. would you say that's right? maria: yes, absolutely. that 3.2% number obviously showed strength in the consumer as well as strength in the corporate sector because cap ex was so strong. but beto o'rourke - -- >> people see that.
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they're very part. it's the cartels, the coyotes, you wouldn't believe these people, they're tough vicious, smart, street smart and cunning and they know the system better than the people that wrote it. the people in congress have no clue. and look, we have some great republicans that are dying to get this done. they'll do anything to get it done. it's so simple. i mean, we change four or five rules and we have to change the a asylum rules. people come up, thes rough gang members and stand next to a lawyer that they have who they pick up, i guess the lawyers get paid by the dozen. and they stand there and they read a statement that the lawyer hands them. this is great danger, i am afraid for my life, i'm afraid for my country and being in my country and they say oh, that's wonderful. you look at the guy and you wouldn't want to fight him.
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this guy is not afraid of anything. you see pictures of him coming up, he's carrying a flag from honduras or guatemala or he'll sell havelsalvador. they are waving the flag and they say they're afraid to be in their country. it's a con game. maria: i know have you to run, but all of the 2020 contenders who want to run against you in 2020, you haven't heard a peep out of them about this. beto o'rourke is from el paso. i don't know what he's done about this problem. you've got bernie and now you've got joe biden. they're not characterizing this as a crisis, sir. >> so beto o'rourke wants to take down the walls. that means he's finished. i mean, he was finished two weeks ago when he started saying certain very stupid things. beto o'rourke has been exposed. i think biden has been exposed. i don't know what the hell happened to biden. i never saw that before. i don't he know. doesn't look like the same
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biden. i said is that really he joe biden. he doesn't look the same to me. i've known him for a long time. i've seen him for a long time. you i said what happened to him. so he's been exposed because he's very weak. he doesn't want to talk about this. they don't want to talk about this. i don't get what their plan is. do they they want to let people in that shouldn't be here? we have people that are trying to get in that shouldn't be here. think of the word apprehend. the border security is apprehending 100,000 people a month. do you know how many people that is? it's incredible, the job they do. the problem is with the laws, we should be able to take them right out. we can't. we have to bring them into a court. who ever heard of that? we're the only country in the world that i know of that has a court system, it's a mobile court system. it is on the border and with all of these cases, 900,000 cases, you would need to do 900 -- you would need 100,000 lawyers. it's the craziest thing you've
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ever seen. we are doing a job. what we're focused on is the bad ones. we won't let the bad ones in under any circumstances. we're keeping track of everybody. when the laws change, we can move them out and bring them back to their countries. we have a system of keeping track. when the laws change. right now, we move them out, the border patrol people would get arrested. i don't know where these people come from, maria. i'll tell you, it wasn't my neighborhood. these have no common sense. honestly, untiles they hate the done -- unless they hate the country. the only thing i can say, they hate our country. that's how stupid the laws are. maria: the whole world loves it. they're trying to get in, in record numbers. before you go -- >> people see this and they say hey, maybe -- they start learning and they get educated very quickly and you know who educates them? the cartels.
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and then the cartels say we want $5,000 and we'll bring you up and then the women are getting raped on the trip. the trip is brutal. the trip through mexico. and they should do much better in stopping the people. they are doing very little for us. they should do much more. they've done more for us under he me than they have before. they took 15,000 people out recently. that's nothing compared to the number of people that walk. and i said, i'm going to close the border if you don't start shaping up. mexico is doing a terrible job. maria: you can't close the border right before usmca gets ratified, right? >> i'll do anything i have to. this is more important than usmca. maria: mr. president, i know you have to run. william barr testifies next week. what's the most important question you think he should be asked, if he shows up for the testimony next week, the upcoming week. >> the most important general
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for the great new attorney general -- he's done a great job in a short period of time i think it's how did this start, how could a thing like this happen to our country. it was a big con job. how could top people at the fbi be so corrupt and be so rotten and why did everybody let it start? it was very interesting. i watched different people this week and everybody wants to know not about where it came from, how did this start. why did we come up with -- why did we come up with a comey who was corrupt? why did mccabe and all of these people exist? i mean, mccabe whose wife got $700,000 from hillary clinton's pac and she's under investigation by the fbi. no wonder they let her go. so many violations. so many crimes committed. hard to believe, actually. maria: it's all quite
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extraordinary. it's all quite extraordinary. >> we caught them. now, everybody wants people to go out and find out what the hell happened where did all of this corruption start, when you have strzok and page. maria: our viewers want to know. >> the lovers we call them. maria: our viewers want to know that. >> hillary clinton loses, we want an insurance policy, we can get trump out. well, it didn't work so well. i tell you what, it really hurt our country and it hurts our country and this is cleaning out the deep state. this is cleaning the swamp and we've gotten rid of 22 people at the very top. these people are corrupt. and then you look at a guy like brennan with his big mouth and you look at clapper who is a dummy and yet he was in intelligence. he's a dumb guy. the they lied and they lied to congress. clapper lied so badly it's incredible, to congress. and then they get paid by cnn. maria: we have that resume. >> cnn, they go and make more
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money than they've ever seen before, although possibly they made more than that. we don't know about it. something had to go on. it's a disgrace. everybody wants to know, and you might be number one on the list, i watch your show, you're incredible. you may be number one on the list. everybody wants to know how did it start, why did it start, what about the dossier. how much did hillary clinton pay for the dossier. you know she paid for it. and the dnc paid for it. maria: i think it was $1 million. >> this guy steele is a total fraud. maria: i think it was $1 million. >> everybody wants to know about it. that's really -- hopefully they'll being going there. maria: mr. president, thank you so much for calling in this morning many i appreciate it. i know you have a busy day. thank you, sir. >> thank you very much, maria. maria: coming up right here next up, booming real estate, how marriott is now gearing up to become the first major hotel chain to create a home rental platform, they're going airbnb. and mark zuckerberg creates a device to help his wife get a
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better night sleep. we're all taking a look at that. we all need it. back in a minute. ♪ i'll be there waiting for you. ♪ i'll be there waiting for you. ♪
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maria: welcome back. we're watching earnings this morning, also want to point out that jp morgan is upgrading the banks this morning. we'll check the bank stocks coming up. a major recall affecting rocking
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baby sleepers, cheryl casone with details in headlines now. cheryl. cheryl: that's right, maria. kids 2 is recalling nearly 700,000 rocking sleepers after five infants died over the past seven years. the affected products have been sold since 2012, at walmart, target and other stores. anyone who has the kids 2 sleeper should stop using. this comes two weeks after fisher-price recalled sleepers after more than 30 deaths over a decade. all right, facebook ceo mark zuckerberg showing off an invention he made to help his wife sleep. it's called the sleep box. it emits a faint light between 6:00 a.m. and 7:00 a.m. so mrs. zuckerberg knows the couple two daughters are about to wake up without having to check her phone. zuckerberg says if anybody wants to develop his invention further, go for it. all right. if you like your cup of joe with
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a kick, sky vodka is introducing a cold brew coffee flavored vodka made with real coffee beans. it's 70 proof, folks. a liter will set you back $17 many bottles are available for a limited time. i'm going to go from vodka to slime. nickelodeon turning the green goo into something sweet. walmart is carrying nickelodeon's slime ice cream, maria. it's available in vanilla ice cream cups with green frosting or orange, lemon lime frozen bars. i'll work on getting some for us on set. maria: oh, good. well, we'll have to see that one. when i'm back in new york, i've got to see those slime bars. thank you, cheryl. we want to talk china and trade with canada and mexico. there is some question this morning, an article in the journal, about the pushback the democrats are giving the president on his usmca and of course steven mnuchin, the treasury secretary is on his way
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to china this morning to begin another round of trade talks. curtis chan is with us from the milliken institute. tell us about the china silk road strategy and where china is going with this. how the u.s. gets impacted. >> sure. there's so much happening this week. one thing that happened this weekend was china's second silk road initiative, their plan to help with infrastructure investments throughout the region, very positive. maybe the negative is they're trying to lock in perhaps unfair relationships with trading partners from europe to africa, to asia. recreating that old silk road. maria: the president's not going to allow that. he'll keep pushing back on china to get a deal. do you expect a deal will in fact address some of the more important issues like the i.p. theft, the transfer of technology? >> that's a separate issue than the conference. we're hopeful for a trade deal. what happened between the u.s. and north korea so far, if it's
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a bad deal, america will walk away. the u.s. economy, amazing, 3.2%. the economy is firing on all cylinders. that works to secretary mnuchin's advantage as they try to rebalance this relationship. maria: that's a good point. the leverage is when you've got a strong economy. mitch rochell, lauren simonetti in new york this morning. this article in the journal about usmca, we've been saying this for upwards of a year that the democrats are pushing back on this but this would be a huge blow to markets, lauren, if the usmca is not ratified. lauren: democrats want labor laws changed in mexico, particularly, in order for them to ratify this. but in the same wall street journal over the weekend, chuck grassley wrote an op ed. he said essentially, look, if you want this deal to go through, you've got to take the tariffs off because the tariffs are a tax. i'm a farmer, my family's a farm earn. my can stin constituents are fad it hurts us. maria: your reaction to that, he wants steel and aluminum
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tariffs removed from mexico and canada. >> i think bridging the stories together, the thing that's interesting is as secretary mnuchin goes to china, the chinese could look at what's going on with usmca and say wow, we're negotiating in good faith but if he congress does not want to play ball here, why should we bother right now. i wonder if they're focused on our legislative process and going to say they've got an election coming up, they've got often friendly congress, maybe they don't want to be in a hurry to make a deal. so i don't know if that's part of the calculus on their part. maria: that's a great point. yeah. i don't think they're missing a lot, that's for sure. we'll take a short break. when we come back, the booming real estate market, marriott is gearing up to become the first major hotel chain to create a home rental platform. they're going targeting right to airbnb. my next guest will speak here at milliken later today about just that. stay with us.
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maria: welcome back. real estate in focus, industry leaders set to speak at the milliken conference later today, weighing in on the global economy, the impact on the retail, commercial and industrial real estate industries, as marriott international is looking to get into the home rental business, setting up direct competition with airbnb. joining me right now is kane international ceo jonathan goldstein. thank you for joining us. i guess some of the traditional hotel companies have seen the success that airbnb has and they're saying i want a piece of that market share. >> i think that's right. i think over the years the hotel companies have moved very much into asset light models and
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they're looking for alternative ways they can generate revenue. what you're seeing around the world is you're seeing the modern traveler is looking for modern ways to solve solutions and provide ways in which they can enjoy themselves in overseas cities. i think that's a global phenomenon. we're seeing is in london, new york and miami. maria: how would marriott do it? marriott has hotels. would they acquire homes and then rent them out? do you know what the strategy is? >> i think they would go into the world of getting people to sign up on their website and therefore creating the income by creating an income stream rather than the assets. they stayed away from the asset heavy model for some years now. i doubt they're going back there. maria: this market is booming right now, isn't it? >> it is. i think we have a service department offering in north london delivering 100 units this week. we have an opportunity at mayfair, miami, opportunities across the space, alternative
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uses for property to meet the needs of the consumer in the 21st century. we've got the coworker space for women opening in l. a a., of course on this site here we have the beverly hilton where we are this morning where we've got 1 million square feet we're developing. maria: we know the global economy is slowing. europe is lucky to generate 1% growth this year. china has come off of the highs of the year. how is that impacting real estate right now? are you expecting the market to slow down? >> i think the world is seeing a slowdown. it's important that people recalibrate expectations for returns. we live in a low interest rate environment, for over 10 years now. what was a 20% return, people have to understand and expect that that's in the low teens. people have to understand their construction, they have to understand their offering. but most importantly, they have to understand the needs of the modern consumer. if they understand what people want, then they have an
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opportunity to meet their needs. maria: let me ask you about the u.k.'s potential exit from the european union in london you have british real estate having an impact. do you expect the u.k. to leave the e.u. and how will this impact real estate? >> my children will tell you, i've got every political prediction wrong in the last three years. i'm not going to make a a prediction. what i will tell you is that the short-term uncertainty in britain is chaotic. it's a farce that they have not been able to find a solution. i don't see in the short-term an opportunity for that to happen unless the most extreme and unlikely situation that a conservative party led by theresa may finds a resolution with the most left-leaning labor party in a generation. so i think we've got a situation of chaos and farce. we need to divisio need to distn
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the long-term and the short-term. in the long-term we'll be okay in the united kingdom. thank you very much. maria: great to have you. quick break and more of my interview with treasury secretary steven mnuchin. that's next. we're talking usmca, next. when you rent from national... it's kind of like playing your own version of best ball. because here, you can choose any car in the aisle, even if it's a better car class than the one you reserved. so no matter what, you're guaranteed to have a perfect drive. [laughter] (vo) go national. go like a pro. see what i did there?
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at mill milken substitute globally conference a special edition of "mornings with maria." >> welcome back good monday morning. thanks for joining us happy monday to you coming live this morning from los angeles. it is monday, april 29, top stories right now 8:00 a.m. on the east coast, trade is in focus this morning, coming up exclusive interview with treasury secretary steven mnuchin. >> the president is determined tariffs have been a big part of getting people to at the negotiating table but the objective is to make sure we
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have fair and balanced trade. maria: more on trade this morning, including the usmca deal, will it get ratified? the gdp after a strong number friday and recent attacks on capitalism coming up, there is the battle exclusive interview with president trump about growing crisis that i had a chance to witness, firsthand at the widespread between u.s. and mexico el paso, texas i was there this weekend wait till you see what i found the president says people are illegally pouring into united states, he partly because economy is so good there are opportunities. >> trouble from boeing journal reporting aircraft maker did not advise airlines or the faa, by the way, that it shut warning system off, on 737 max what it could mean shareholder meeting kicks off today, for boeing stock down one percent ahead of that. >> markets fractionally moving today, we have an up rate of banks j.p. morgan moring j.p.
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morgan upgrading major banks this morning both among best the broader averages lower dow futures down 13 s&p futures down one and a quarter nasdaq futures down five and a quarter waiting on march pce report coming out and inflation indicator, a lot of people believe it if we still do not see any inflation for the fed target they will in fact cut rates some point so we are going to bring that number comes out 28 minutes also out 28 minutes personal income spending data after a big rally on friday, take a look at indices friday after strong gdp number, the dow industrials download up a third% s&p up almost half a percent nasdaq up one-third of one percent on friday. >> not a lot of follow-through in europe indices mixed ft 100 flipped in positive territory up two and a quarter cac quarante is down points dax
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down 27. there is optimism standard & poor's did not gown grade on italy there are budget issues there in asia overnight, the market in japan, was closed, for a holiday, the others fractionally moving korea best performer south korea up 1.7% coming up to break it down fox business network lauren simonetti in new york, with pwc partner mitch roschelle in l.a. milken asia substitute fellow curtis chang. >> a lot to talk about we got a lot to talk about there is a story in the journalism this morning, raising some questions about the ratification of usmca, something i have been talking about for sometime, and asking if in fact there is confidence this is going to pass ask exclusive interview with steven mnuchin covered that before secretary heads to beijing sat down toaway in onusis, infrastructure, the
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border crisis we begin with china and iran take a look. >> last week, you announced the administration announced that you will no longer extended waivers to countries that are doing business with the iran, 8 crunches 8 waivers why did you do this now. >> what is the back on tck impa economy. >> iran's behavior is not acceptable that exported terrorism around the world activity on being about ballistic missiles other areas is dangerous to region and allies this has to stop. we had a very coordinated plan after we got out of jcpoa announcing we would put in sanctions we gave market plenty of time to adjust, we arrange forward more supply into the market i don't think anybody should have been surprised, that we weren't extending this, but secretary pompeo and i and others have had very direct kvrgs and
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we've also made sure there is more supply into the market so we are sensitive to the price of oil, we want to make sure there is plenty of supply to offset the reduction in iran's oil. >> you are not expecting prices to spike as a result of this. >> i am not i think you have seen the market trade up in advance of this similar to it did last time i would expect we see a bit of a -- a recalculation in the market. >> let me ask you about infrastructure this is an area the president said that he would like to work with the democrats, on infrastructure package, nancy pelosi said she is willing to consider two trillion-dollar package, that sounds expensive do you think an infrastructure deal gets done this year. >> well the president has been determined, to do infrastructure this goes back to the campaign. is a travel country with him, i saw clearly, the need for you infrastructure. and this is something he very much wants to do. so i hope that the democrats are sincere this is something we need to he do on an bipartisan basis, and i have
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had conversations with chairman, i know the president has conversations with the speaker, we will see if we can get something done. maria: two trillion dollars in the face of 22 trillion dollars in debt, when does debt become important and something to stwaul focus on, to start reinbeing in spending. >> we would be thrilled to have a two trillion-dollar program it has to be paid for there has to be an offsets discussions we will be having with democrats. >> do you expect it to partly be including the private sector? how does that work the private sector would fund some of it? >> maria this is something that we need bipartisan support so we are going to sit down, with both parties, and the white house and see if this is something we can get done and something we can negotiate three way agreement. >> only problem is democrats want to investigate the president, you know this, they want his tax returns want to investigate, more on if mueller report even though we know there was no collusion it is have a ared to believe that you are going to actually get a major piece of legislation done when they are attacking
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him every day. >> we will take them at face value i would say biggest priority they should bring usmca to the floor this is something that has normal support from governors on both sides of the aisle, from business, this is very important, to the u.s. economy, so i would be if first thing that we can get done on a bipartisan basis. maria: maybe but at the same time,democrats have been on this program, and said i am not signing this i am not voting yes, in current form, do you have a plan b, if not ratified if you don't get votes. >> i think the speaker brings to it the floor it will be passed but we will see. >> in terms of the other issues around mexico president called out mexico in terms of handling all migrants is he going to shut borders does that impact usmca. >> maria the president is very focused on border security i think you know the issues having visiting the border having spoken to the president about that he is determined i think mexico has made a lot of progress recently. on these, hopefully they will
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won't to work with us important issues. >> does it surprise you in even this backdrop such a vibrancy for u.s. economy you've got a number of businesspeople out there saying well, capitalism ilths orange county maybe needs reform ray dalio said capitalism should be turned, jones complained about capitalism jamie dimon wrote about it does capitalism need to be changed. >> i think take become refinements in next election cycle i think two did i have very economic pasts one looks like socialism one is capitalism meaning a free market economy, that is something that the u.s. has supported and thrived by, we are the -- the place in the world, of technology, of different areas growing, and the u.s. economy right now is the bright spot of the world. so i think that we are going to see the american voters want to continue to see this economic growth because this
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is good for the american workers. maria: it is hard to attack capitalism when you just have come off a quarter 3.2% growth obviously, working. >> absolutely that growth means more jobs for more people, higher wages participation rates of people who have not been working coming back into the economy. maria: again, here we have a situation, where you've got to have the two sides working together, and they want to investigate him, they want to see his tax returns. are you going to give the go ahead at irs to give up his tax returns. >> maria this is a very, very important issue, this is not just an issue about a president in congressional oversight this is a decision i and commissioner take very seriously as i said, we are consulting with consulting with doj will not do anything not according to the law i would just say this is important precedent, and this is something about protecting american taxpayers and making sure we don't weaponize irs
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can i imagine if chairman brady requested tax returns of prominent democrats or prominent contributors or problematic members of congress? so this is a very, very important issue, we are taking this decision very seriously we have told the democrats we will have a decision for them, in root week and a half, but i would just say, this is an important issue, of not weaponizing the irs. >> so that is what it is about? beyond that why not release the tax returns; right? >> again, our obligation is to follow the law, and that is something we are consulting with doj on. >> secretary, you are one of the original members of this administration. you are sort of one of the last men standing frankly in terms of one of the original partners to this president, in terms of implementing economic policy foreign policy what you have done on sanctions, are you expecting to serve in this role should the president win again in 2020. >> maria the president wants me to that is something that i
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would do, i've enjoyed being with the president, since the campaign, i think his leadership and his economic plans are very important for the economy. >> going into 2020, you've got a big field of democrats want to go take down the president and joe biden raised more than six million dollars in 24-hour period or something, what is your reaction to that. >> my reaction is that is not a lot of money but i am not going to comment on you know the democratic field what develops we are focused on the u.s. economy, and doing our job, to continue to create new jobs and higher wages for american workers. >> do you think you can keep that going next couple years no sign of recession anywhere over the near-term. >> maria i think we are just beginning to see the beginning, of the impact of the president's economic program. >> what would be the one thing you worry about to reverse that? >> maria you know the one thing you can never predict what you don't know there is always in known but i'd say in terms of things we see on the
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horizon the economy looks very electronic. >> we are just back from u.s.-mexico widespread it was a incredibly eye-opening what we saw in terms of these of the middle of conversation with border agents people crossing border into united states that is had impact on economy what is impact of all people coming in trying to get benefits, and -- and health care, food stamps, et cetera? >> well maria these immigration issues need to be reformed immigration laws needed to be reformed up think the president is very clear on that has been willing to sit down with the democrats, and try to do something. area that they just want to fight the president, they don't want to give him a win, they are more concerned about giving him a win than they are doing things that are good for the american public. so again, you've been there not my area expertise but clear i have the is a problem. >> why i questioned getting anything done next two years frankly mr. secretary you can't come out on monday have
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an impeachment hearing and then on tuesday say oh let's do a hearing on infrastructure, right. >> maria there is a lot of things we can do, in the administration, to continue the economy. without ledgeslation we've got most poer legislation down yearly tax reform hadn't been done no 30 years we will continue to work congress on areas we need to do as i said usmca is priority on a bipartisan basis. >> where does health care fit into all this. >> again, health care is something that the president is focused on, on lowering health care comforts it is a big part of the economy. and to keep the economy growing that is obviously, a big part of the issue that we need to look at going forward. >> secretary mnuchin would you like to add in this case i may have missed. >> you did a great job maria nice to see you. thank you so much for joining us. >> we will be right back boeing shears under -- company facing kufgz investigators dpooig deeper into two deadly crashes we've got those
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accusing. ceo of boeing set to shareholders today jeff flock in chicago with more good morning to you. >> perhaps you can tell a dark and stormy morning in chicago perhaps apt metaphor for boeing as report face shareholders reporters for the first time since crashes as "the wall street journal" reported apparently, boeing failed to tell its best consumer southwest airlines as
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well as other airlines it turned off a safety feature that would have alerted pilots to problems with data with the angle of athink a sensor implicated in crashes as boeing is under pressure to get 737 maximum fleet back in the air, that is because airlines canceling flights throughout the summer to look at united big cancellations increasing travel season goes on what is it koisting from american latest earnings report 350 million dollars, so far, what will it cost boeing maybe they will tell share holders today talking to reporters for the first time in a press conference after the meeting we will have it live this is the latest from chicago. >> we will be covering that we will come back to you as news develops jeff flock in chicago, coming up quick break then he border crisis more of my visit to the southern border el paso, texas where i
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saw firsthand how our agents are working to secure the border, the mayor of el paso will join is later this hour, stay with us. ♪ .
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>> we are talking to trump economy this morning has seen a 3.2% economic growth number during the first quarter. unemployment down to lowest rate nearly half a century stock market surging as 2020 democratic presidential candidates push for a different economic agenda, during my exclusive sit-down with treasury secretary steven mnuchin i asked him about the capitalism versus socialism. >> does capitalism needed to be an cheernd. >> as we go into next election cycle i think you are going to see two very different
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economic paths one looks like socialism one is capitalism meng a free molecularity economy that is something u.s., has supported, and thrived by we are going to see the american voters want to continue to see this economic growth because this is good for the american workers. >> . >> joining me to talk more about that jerry baker "the wall street journal" editor at large, and "the wall street journal" at large host on fox business, along with curtis chang from milken substitute great to see you thanks for joining the conversation the secretary said people are talking about refining capitalism now, you know that ray dalio came out saying capitalism needs to be a reformed jamie dimon wrote about it in annual letter jones says we got to could something otherwise doing socialism why all very wealth successful people benefited greatly from capitalism now telling us that capitalism needs to be changed. >> there is a tremendous
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amount of disaccount with system as it is a sense the system, is pursuing some economic growth certainly the u.s. economy doing very well at the moment but benefits of that growth are not being fairly distributed not equally distributed normal people are left behind, as it happens last few years, some of those concerns have been addressed, actually wages average wages started to grow people doing somewhat better, the stock market, that may have been benefited in small number if it is large number have things thick 401(k)s you are seeing -- a concern across world simple scale of capitalism way financial capitalism seems to dominate the economy is not producing, is not distributing rewarding fairly, there are people like ray dalio jamie dimon others say we've got to address this. >> some people say that average -- out there can't come up with 400 dollars for emergency, and your focused on this for this -- >> theme of milken institute
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shared prosperity how do we inspire everyone has their portion interesting even this weekend where they talked about isn't so much we want to guarantee people an income but maybe we need to guarantee access to capital to opportunity so they can move forward i think -- welcome about definitions, we are talking about what is capitalism socialism somewhere in between we're moving, to. >> 2020 do you think these issues are going to force a change in the u.s.'s approach. >> we have have to see, the xhaikt party whoever neithers nomination whether bernie sanders out andout avowed sosht or joe biden if you like more centrist or somebody else party is pressuring for a more radical approach much wider access to health care medicare for all universal version, you
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saw what elizabeth warren said last week a bigger parole in the sense that is a way to address problems you can do that the question is can you do that maintaining relatively strong economic growth model is europe has most acknowledge a fair distribution it has universal health care pretty much, precinct well widespread. >> much higher absorb safety net europe has weak growth he man -- manuel macron president of france. >> can you name google that has come out of europe notify name that was born in europe. >> no a lot has come out of china. >> okay. >> china. >> i am talking. >> china different system too not exactly, by the way, elements of both a very, very vibrant private sector that he will dos have obviously, very, very strong government. >> we leave it there great to
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see i thanks catch "the wall street journal" at large every friday night 9:30 pm eastern on fox business network, after "the wall street journal," why is teen christine lagarde this weekend, we'll be right back. because when it's decision time... you need decision tech. only from fidelity.
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february pce coming in 1.6% pretty much in line with expectations, estimates as high as 1.7% we have a number that is actually something the markets would like lower than that, at 1.6%, the markets little changed right now dow industrials up just one point s&p 500 down a quarter and nasdaq down quarter as well. you are looking at the core ofs consumption expensive index up 1.6% for the february. . >> no major reaction in markets but we will watch
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federal reserve watches this closely, as they indicator whether or not to move on interest rates. >> so we will keep watching that, we are er turning to border battle i was in el paso, texas region yesterday, at the border with mexico, where i sat down for an exclusive interview with the city mayor, we talked about the problem his city is facing as a result of this border crisis. >> can you assess the situation, for us we've seen a lot of an prehennings. >> the immigration impact humanitarian cries the movement cbd personnel off bridges having a significant detrimental economic impact on el paso, texas the rest of the nation nation the bridge wait times for consumers coming across from 11 hours to two days. and that affects all
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manufacturing operations for automobiles especially in midwest. >> in other words what you are saying, is you have patrol men agents supposed to about working on one thing but being pulled to deal with the onslaught of people coming accruings that is affecting trade affecting commerce affecting the business of el paso. >> correct, it is the wait times across -- we have 35,000 passenger vehicles per day, that come across legally from mexico. 15% of my retail trade is a mexican consumer, so our sales tax revenues impact he will passiono immigrants coming cross are only here for 24 to 48 hours typically unless health issues problems whatever, but so there is a crisis from that standpoint, in the fact that yesterday was 4 -- 650 came across this morning i just got word 452, are being released this afternoon, i mean, the -- the
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stress on personnel is what is what is -- hurting us, the city of el paso has a public/private partnership with cbp to pay overtime for bridges 1.6 million per year we offered to may more money to see if we could enhance that, and they said no, we don't have personnel we can't do it so that is the problem, on that, it is -- it is a humanitarian crisis messing into economic issue for our region for our state, we have 10 billion dollars imports and -- 10 8 billion dollars through land ports on annual bays. >> what do you see done. >> i want to see congress dwell intestinal fortitude on both sides of the aisle both houses to do something about immigration reform. >> so what happens then? they come across, oftentimes they are children are sick, the border patrol have to take them to hospitals make a sandwich do stuff they shouldn't be doing they should be securing the borders.
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>> our office emergency management stet el paso is involved with cbp, the processing, if they need, emergency transportation, to our hospitals we are involved, if our sunday metro bus system needs to provide transportation we are voluntarilied we pay for all that we work closely with them yes, that is part of the issue. >> what is the cost of all this mr. mayor. >> still trying to quantify i don't know exactly what the cost is. but every time as i say we use our sun metro system to transport them we have to pay the -- the system out of our general budget, and but i am really concerned about the fact that 15% of our consumers are mexican, and this impact takes three to five hours to cross the bridge, are they are not coming over here buying purchasing goods, when precludes seas tax revenue. >> also that impacting the economy. >> yeah. >> under your leadership this
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city remains safe. amazingly which is i mean, a question, because you've got illegals coming on in we to be thes know where they are going, how many of what do you think the percentage is of those people who stay in el paso, versus the people who go out to all over the country? >> i would say less than 10% less than 5% here from 24 to 48 hours come in, our ngo enunciation house volunteers once they are released by cbp, immigrants help contact sponsors family or friends, arrange bus fare air fare they are gone typically time line 24 to 4 hours max sometimes as long as 96 hours but seeing more and more on health issues you are seeing chicken pox all kinds of things they have been traveling for months to come across. >> where do you think they go once they come to el paso, after the 48 hours where do they go. >> wife and i grandchildren
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fed them on occasion, we talked to them they go to midwest go to northeast, some go to miami, they are travelering all over united states. >> wow, and -- >> and legal from the standpoint of having to come back, you know viewers may say well they are all illegal they are not they've been processed if he probatived correctly through ice have ankle bracelets on supposed to come back the system is overwhelmed. >> incredible because the system is so overwhelmed. >> yes. >> and there are sick children the children are put into very dangerous situation. >> some cases they are inforge me we may have rent children so to speak not necessarily actual families they are bringing children in, so human trafficking -- there are some real serious issues, that congress needs to address. >> when you say rent a child in other words, they are in let's say honduras el salvador guatemala renting their kids
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so somebody can crossborder with a child just to make them look like a family. >> correct. >> then the kids are going back doing it again. >> that is what i am hearing. >> how many are real families how many making believe. >> i don't have that data i i don't have that data it is a great concern, just -- keeps more and more. every day. maria: really incredible situation, that is still developing, my thanks to el paso mayor. we have breaking news, few minutes ago that was february pce number hit the tape coming in up 1.6% mitch roschelle in new york the markets turned around here dow industrials up 6points s&p futures up a quarter point this is not a major move obviously but the market were negative before this number came out i am wondering if this is basically a good story for the federal reserve, a lot of people wrng why this fed con not get to target inflation at 2% what is your take? >> well, couple things, we've
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got a very strong dollar, that is helping it, also a global economy you can always buy something cheaper manufactured abroad so that is one of the things keeping u.s. prices down, but the thing to remember is maria back in october, when fed chairman powell made a comment about we're not at neutral yet the market began its slide. it bake a lot more accommodative in tone data backs that up doesn't look like a rate increase anywhere in horizon we may have a rate decrease, and i think, much of that is baked into the markets why markets he aren't really sort of buying into news, i think the number, was right in line with expectations, but it is well below their target. >> yeah look at market up 13% s&p up 17% year-to-date nasdaq up 23% year-to-date. want all reaction to a very strong backdrop, with not a lot of inflation key will weep talking trade having in focus
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this morning, treasury secretary steven mnuchin said it is a priority on both sides of the aisle to get the usmca ratified there is real pushback from the democrats coming up. we will talk about that. run with us in the unstoppable john deere gator xuv835, because when others take rain checks... we take the wheel. run with us. search "john deere gator" for more.
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maria: the president has us focused on trade issues across the board so we made a lot of progress, we couldn't be more pleechd with usmca we hope to see the speaker bring that to the floor, so we can get that
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passed. you know, we signed an agreement, with south korea. we are having conversations with europe. about trade issues we are having conversations with chin and yes, we are having conversations with japan the president is determined tariffs have been a big part of getting people to the negotiating table. maria: that was treasury secretary steven mnuchin sat down with me, last night, to talk trade, before heading to beijing leaving for beijing this morning, to continue another round of trade talks, with china. joining me right now former cla congressman u.s. trade development agency headed nominee dara issa great to see you. >> great to be here talking trade so this is the right place to be. >> i mean look you have studied these issues quite a bit i want to get your take on usmca, story in the journal this morning something that i have been bringing up a lot, to all my guests questioning what is plan b should usmca not get ratified how do you feel about the canada members
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deal do you think it is going to pass? >> well, this is bill clinton's legacy, and that is sort of the strange anomaly donald trump has made this a hundred-billion-dollar better deal you know 87 billion to a hundred billion low estimate a hundred degreed,000 better for u.s. jobs but at the end of the day bill clinton pulled his democratic party into bipartisan support for this back when it passed. maria: is there anybody to get the bipartisan support for this deal now on the other side. >> you know this is where the institutional memories of the moderates have to come into play blue collar jobs00,000 jobs created by this, the border jobs in my old district created by enhancing trade those people have to step up to the plate and vote for it, and there are companies, as large as qualcomm as small as the -- the tool and dye shop that benefit from more trade
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here less simply importing products from china. >> so if this deal doesn't go through you are saying, 100,000 plus jobs on the chopping block? >> ultimately, if we can't do a good free trade deal with mexico, then that means that likely mexico will lose more than that, we will not gain those jobs. our maria you know our economy is really more than just a little humming along so can we take the blow? yes can new mexican government take the blow of losing its number one trading partner? they don't make money importing chinese goods they make money on mexican working working back-and-forth across the border building automobiles host of television sets host of other products. >> important point chuck grass elie wrote op-ed in journal this week saying we can't to get usmca passed remove tariffs remove streel aluminum tariffs on canada and mexican and you say? >> i say that is a question that has to do with how much
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production is going on in u.s. whether or not, our security has been ensured by the revitalization of our industries. remember that tariffs had more to do with the need to have just was george w. bush the need to have our industries be able to support us from a military strategic standpoint, and they would have been did he minimum i should too far are we getting there ibly so. >> i want to ask about china let me ask you about the border first because i had opportunity to visit, the el paso, border yesterday. >> san diego borrowed i will show you around. >> i want to sea san diego border that wall that separates tijuana, san diego you are right, i have an exclusive interview talking about border on "sunday morning futures" yesterday with president we talked about the crisis why he says, many people are crossing into united states for opportunities, watch.
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>> well people are pouring because our economy so good i mean ufrment the only bad part about what we're doing, because everybody wants a piece of it they are willing to come up and take risk, and this tremendous danger, and laws are so bad, the combination of having a great economy, and having weakest immigration laws anywhere in the world by far. and we have "catch and release" we have chain migration, visa lottery we have things that nobody in their right mind would have. we are trying to get rid of them the democrats won't do it. we need some democrat votes we are unanimously with republicans we need some democrat votes they go out of their way to allow people to come in. maria: he is really referring to a couple of laws that basically say if you are seeking asylum we won't send you back if you are from "three billboards outside ebbing, missouri" countries honduras anywhere but mexico obviously, mexico and canada. so we have to let them into
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the population, or you are also talking about a situation where if you are a family, the u.s. can't detain you for longer than 20 days, again -- puts you back into the population, what is your take on all of this. >> these are well-intended laws, that look more like the end of world war ii refugees pouring out of europe the reality is people who leave those countries leave those countries come here for economic purposes, they are readmittances send home to remaining family, and desire to make trips back-and-forth even if granted asylum here tells you that this isn't just 90% not true it is really one hundred percent not true. >> do you think we get deal with china looks like in final round. >> i believe we get a deal with china, china yeedzl needs it when i was at world economic forum last year it was very clear they have an economy that is slowing down, they would rather take half a loaf than deal with united
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states lose it all one of the biggest challenges behind trump administration the europeans not supportive but want the same deals they want all the benefits that are being negotiated you know very in very difficult negotiations by u.s., and likely will get it. maria: interesting because the administration mnuchin told me not just talks, with china and usmca but you also in discussions with japan, and discussions with europe right now we've got to get your take about this week attorney general william barr stoleni threatening to skip hearing -- if lawmakers go through with plan let staff question him instead of a the leadership there, jerry nadler democrats are threatening a subpoena if he doesn't appear what is your take on all of this. >> you know that is return to an old dirty trick used all the way back, in the watergate era, you know, members would like to have basically the unelected individual who
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doesn't have to stand before voters ask the tough questions, maybe embarrass themselves, certainly when asking questions about russia probe something that did not happen they are going to look bad, so you know members including aoc, nadler so on they have got to step up to plate ask questions if they want to be disrespectful continue to ask questions about collusion, when in fact only collusion was with clinton you know campaign. the then they have to pay a price i don't blame the -- now secretary attorney general, for saying look, for decades we've had a way of doing business, and that is the respectful questions between members of congress accountable to voters and appointed officials of the administration. >>m congressman you have gen so good called this from get dpo we know what happened covered it every day every week do you think we will see of the here for people who you know did an investigation into donald trump, based on nothing? >> i think there is no
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question at all that the inspector general at justice, and in fact the attorney general have an obligation to find out, who crossed the line, in spying on a presidential campaign. and that is really what is behind the follow-up investigation it is what democrats don't want to see they don't want to see an investigation, into whether or not the obama administration actually spied on their political ad saries to try to help hillary clinton. >> we see how far up the line in obama administration always a pleasure to see you darrell issa there a lot more ahead busy week for investors leading up to april jobs' report check out this calendar this week big week for investors investors. back in a moment.
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maria: welcome back. we're kicking off the single
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busiest week of earning season so far. jackie is on the floor of the new york stock exchange with the details. >> good morning. after the s&p 500 and nasdaq saw record closes on friday, it's a very big week with five components reporting. nearly a third of the s&p 500 companies are also going to report this week. so look for earnings from ge, gm, cbs, cigna. in terms of the expectations on alphabet, eps10 .53 dollars, 6% growth. rev nigh.meantime investors areg apple shares very closely. a story about how apple is cracking down on competing apps that monitor screen time. apple launched its own app and it doesn't want other companies
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doing the same thing. two companies file a suit in the eu. disney shares are up because of "the avengers" success over the weekend. maria: what a success. more than a billion in total receipts. that was a big number. jackie, thank you. final thoughts from our all-star panel when we come back. stay with us. ♪
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maria: let's get some final thoughts. mitch is in new york. mitch? >> the commerce department came out with consumer spending which is another the highest point, increase is at the highest point in nine and a half years. consumer spending is up that bodes well for the economy. and maybe we'll get another surprise in the second quarter of gdp.
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maria: curtis, this is what you want t to see? >> absolutely. at the end of the day what's going to drive shares is capitalism. maria: thank you lauren and mitch. that will do it for us. "varney & co." begins now. good morning, ashley webster. stuart will be back tomorrow. don't go anywhere. we have big stories and we're watching them for you today. big day for boeing holding its shareholder meeting today. you'll hear from the ceo in the 11 a.m. hour. disney definitely a stock to watch today. the new "avengers" movie bringing in a record $1.2 billion. that's billion dollars in global ticket sales. nice game for disney shares ahead of the opening bell in the premarket up m

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