tv Mornings With Maria Bartiromo FOX Business September 4, 2019 6:00am-9:00am EDT
dorian, path of destruction continues, hurricane heading up the east coast, more than 2 million people under evacuation warning. this as we start to get a look at devastation left behind in bahamas, the very latest on the path coming up. brexit showdown, bringing blowout and johnson has no choice to call general election putting his own future in question, mornings with maria begins right now. ♪ maria: big show this morning with breaking news, joining the conversation fox business network jackie and ceo along with labor secretary nominee andy puzder with here, chief investment strategist nancy, great to see everybody here. right into hong kong with the breaking news and also ceo of
1-800-flowers coming in, new seasonal hiring, wait till you see how many people they are hiring. the ceo of equinox. director of center for chinese strategy michael here on hong kong and the latest, fox news senior judicial analyst judge andrew napolitano on antiprobe into google and napolitano, don't miss a moment of it, we've got the futures right now showing pretty good rally, things accelerated moments ago when we got the news that extradition bill is now going to be completely withdrawn, your reaction, nancy? >> one more tension off the table that they are ringing hands around just a dropoff in new export orders and new orders about 20%, so if we can start to see some resolution and some stability in china and with the trade deal i think we have the
opportunity to rally pretty heavy in year-end. maria: you know, this bill andy basically put in question the autonomy of hong kong, that's where the protesters were out in force and if you looked at really amake-up of the protestors, there were a lot of young people worried about their future that china was going to be too authoritarian on them. >> reminds me yaoundes where it is a signal from beijing that they want to pull things back and calm things down in the region of the country, that's real positive. i feel very good for the people at hong kong. i think they have 5 demands in total, i think they would like to see the situation calm down rather than have good tense. maria: yeah. if we saw violence there, chinese leadership would go in and create violence to -- to stop protestors, i think it would have been gone in a very different way, jackie. >> i don't think people were
expecting actually to see a compromise like this, i think unfortunately violence was the expectation because the tension was getting ratchet up and when it comes to markets and china trade, we have so many things to look, brexit, only concern that i have is protestors will say we got an inch, now let's try to take a mile. maria: we will see where that goes. the agreement to have to have autonomy for hong kong expires for 50 years, goes back to china in 2047, you mention china trade, that's another issue, the president weighed between u.s. and china yesterday, he said this on twitter, we are doing very well on negotiations with china while i am sure they would love to be dealing with a new administration so they can continue their practice of ripoff usa, 600 billion a years, 16 months plus is a long time to be hammering jobs on long shot,
think what happens to china when i win, deal will get much tougher and china supply chain will crumble and businesses, jobs and money will be gone. u.s. senator steve and david perdue met in china, they did meet with vice president lou hi yesterday where he urged to deepen mutual understanding in the trade fight, where do you see this fight going now in terms of market's perception, nancy? >> listen, that this is what holding back the markets, maria, the numbers reinforces that and so did the university of michigan confidence numbers, the fed is kind of on the sideline, i think we need to see some sort of movement forward or we we need to see companies perform, we saw gdp corporate profits were revised, things are not as dire as everyone -- many would like us to think, but i do think
we are at a kind of turning point. we need to see some movement before the market will take off. >> well, we will see, it's the china pushback, right, andy, the president said he had a deal in place back in april, i believe, and they wouldn't agree to not steal intellectual property, can the president do a deal without those big-ticket items being agreed upon? >> i think the problem for the president in his negotiations is that that he has problems, socialist-types that are holding back, i think what he would like to do is reach a deal, i think the big threat to china, the president brings it up at end of remarks, the supply chain will move out of china. when they move on, they are are gone. this is a real threat to them. maria: he's reminding the chinese of that in the tweet, basically talking to xi jinping
in that tweet. >> having said that, you know, looking at futures yesterday morning and seeing imposition of the new round of tariffs over the weekend, i think there was part of the market that thought maybe he will step back from that, maybe he will suspend them or delay them a little bit and when he didn't the market also realized he is playing hardball here in terms of his overall objective and that's been the storm that's been difficult to weather at least in august. maria: yeah, it's true, and i think this hong kong situation takes a little more pressure off xi gyp -- jinping was adding pressure, probably a good thing for the administration to see people on the streets. >> absolutely, one of the problems with this is that china -- the china may say, okay, we've done enough and the people that were out in the streets and with protesting they back off and this may be china taking one step back but hope to go take
two steps forward once things calm down and we will see how it goes, it was good for the administration that there was this problem in hong kong because it puts more pressure on the chinese. maria: hong kongers were reaching out to america saying please stand with us. >> yes. >> holding the american flag, we do not have a yet date for the chinese premier, xi jinping to meet in september, we will see where that goes, the uncertainty remaining for markets, then there's hurricane dorian, of course, this is down to category 2 now, has been weakening but people in southeast u.s. coast making final preparations for hurricane dorian over 2 million residents along the coast in florida, georgia, north and south carolina have been warned to evacuate, jillian mele live in island this morning, she's in georgia with the very latest, jillian. >> maria, that's right, we've seen a couple of rain bands going through here since we've been out here the last few hours, one pretty significant right now, light rain, no significant wind picking up just
yet, we are expecting that to change throughout the day, there's mandatory evacuation order among many of the counties along the coast even some of the closer interior counties and then we are also dealing dealina curfew overnight and seems that people are adhere to go that, you can see behind me businesses are boarded up, shut down on island, one of the things that people worry about is significant storm surge, right now 150 yards away from water, so that is something that everybody residents and elected officials are going to keeping close eye on, listen to this. >> we realized that there was a lot of lessons learned, it really devastated us because we weren't prepared for devastation upon us. >> one thing that we are doing this year that we haven't done for matthew and irma, we hope to get cameras out to the field, drones in the air, document where the disaster is actually happening. jillian: okay, so that was officials talking about the things that they learned after
hurricane matthew struck the area about 3 years ago, there was so much significant damage, power outages, significant flooding and storm surge and you had people without power, that is something that everybody is prepared for right now and when you hear people talk, you hear people compare this to matthew just because of the track, so officials have learned a lot and they feel confident that they are ready for this, maria. maria: all right, jillian, thank you, we will be turning back to you as news develops there, short break, wal-mart taking action on guns, wal-mart makes huge decision to stop selling amo for assault-style weapons ending open-carrying in stores as well, we will talk about the fallout when we come back, handoff, amazon's new technology, you can buy with the wave of a hand, wait till you see that, back in a minute. truecar is great for finding new cars.
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maria: welcome back, following the latest developments on california dive boat tragedy, lauren simonetti with headlines, lauren, good morning. lauren: sad story, no other people were seen entering the water, this is now a recovery mission, 34 people believed dead, most likely trapped when a fire broke out on the dive boat on monday, 5 crew members on the deck at the time, they were able to jump off, they survived. well, parliament delivering a blow to british prime minister boris johnson and brexit plan, lawmakers oppose to no-deal exit from european union including members dozens on party voted to take control over parliamentary again, the stage is set now for members of parliament to pass the bill preventing the uk from leaving the eu before october 31st without a withdrawal deal in place.
the prime minister warning he's going to call for a new general election putting his own future in question he does need two-thirds majority approval in order to call the election, however, wal-mart is making some big changes to gun policies, retail giant will no longer sell ammunition for assault-style rifles and handguns, also asking customers that they no longer openly carry firearms in its store in state that is allow open carry, the move follow pair of deadly shootings at its shores last month, nra taking to twitter criticizing the move writing this, it is shameful to see wal-mart succumb to pressure, grocery store kroger changing policy asking customers to stop openly carrying guns in its stores other than authorized law enforcement, maria, thank
you. maria: lauren, thank you very much, important story about wal-mart, andy, your thoughts on this, what wal-mart is doing here? >> wal-mart, if this is what feels it's interest interest of consumers, if this is what will bring business into wal-mart, drive sales, something they need to do and they are willing to take the backlash from it, that's what capitalism is about, it's their call, they have every right to do it. maria: a lot of people were skeptical and criticized wal-mart for, whatever, getting political, et cetera, when it happens in a wal-mart, they can do what they want. >> yeah, brings it home. i was running cke, if we had shootings in the restaurant i would have changed the way we look as management, the way we look at gun laws, so i can see why they would have done it. i don't know it's going to help their business or not but it's their call. maria: i want to talk about ism, the ism was real important in terms of moving markets, nancy,
we know that's the weak spot in the economy right now, we try to preview indexes every month when they come out, what was your read on the ism yesterday? >> yeah, it was disappointing but not unprecedented, this is the third time we've gone below expansionary which is the mark in this cycle, interesting fact, the milwaukee pmi with producers in the midwest, blue-collar employment is at 57, white collar at 41.1, blue collar tends to be leading indicater, that's super encouraging if you're looking for information about where we are going, i mean, manufacturing, blue-collar workers, i don't think it's as dire as the ism indicates. maria: factory activity did shrink for the first time this year. >> orders and that is trade. maria: once again points back to uncertainty over trade, we will take a break, when we come back preparing for bankruptcy, pharma
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contracted for the first time in 3 years, new op-ed, manufacturers have added 55,000 jobs this year compared to 162,000 during the same period last year, while manufacturing makes up small share of u.s. economy it can be canary since it's sensitive to business demand, mark, good to have you on the program this morning, thanks for being here. >> my pleasure. maria: your reaction to what we saw yesterday in ism and let's talk about the importance of manufacturing in the broad economic landscape in the u.s. and the world. >> sure, i think you hit on it and your guest also said it it's important, it's being impacted about trade uncertainty as you talked about earlier, while a canary in the coal mine, consumer is really driving the u.s. has been historical and they are spending more than they have before, they are still spending quite well. maria: you're not word about ism
report yesterday? >> not yet, you know, as long as the u.s. consumer continues to have decent confidence in their buying power and not chose to, you know, it's all about the sentiment in psychology wanting to buy big durable goods, for example. maria: nancy made the point that the consumer is not just big part of u.s. growth but the global story. >> 17% of global gdp. hey, mark, how did you feel about the market up at the same time the ism came out and was contractionary, we saw the market get upgraded 50.3 for final reading, does that mean anything to you? >> a little bit. these numbers move around so much, month to month that we start to see significant trends we start to get really concerned, i like to sort of separate the financial markets from the real economy and try and focus on the numbers, what is the real economy doing today.
[laughter] >> jackie deangelis, back to comments on consumer, two-thirds of economic activity is the consumer but the consumer has been so strong and i'm wondering how you feel about tariffs going into affect over the weekend and raising from 10 to 15%, we have another round coming in december, is this the tipping point where the consumer starts to really feel frit china and then we see potential, you know, impact there? >> yeah, i mean, the more tariffs you put on, the more broadly you spread -- the more difficult it becomes for the consumer not to ultimately feel them in the form of higher prices, it's ultimately a tax on that two-thirds of the u.s. economy in higher prices and that leads into inflationary pressure and other things, you know, ultimately that's going to be unavoidable, just really becomes a question of how much and how long the tariffs will have to be for it to really pass
through for the consume near a meaningful way. maria: we have andy puzder, ceo of cke, squeeze on the consumer of perhaps higher prices? >> i think higher prices have impact on consumers, right now consumer spending is incredibly strong, it's stronger than it's been in decades, second quarter was the best quarter since 2014 but it was the second best quarter since 2003, so we are seeing real consumer, i worry more about the -- of the negative publicity, about trade and the other issues, maybe scaring consumers off, causing them to be more conservative than they would otherwise be, i think that may be the intent of some of the publicity to get consumers to back off, those who are rooting for a recession. i do worry about that, but prices obviously have a big
impact. maria: what about the fed, how does all that fit in here because, mark, central banks are stimulating across the world, the european central bank is in favor of stimulus package for rate cut and this comes after boston fed says he doesn't think rate cut isn't needed at the moment. your reaction and the impact that it could have on markets? >> i don't think i see the betting market whether or not the fed will rate -- raise rates this month 100%, and you're absolutely right -- maria: you're not sure if we are getting cut september? >> i think i would bet for it. maria: there will be be a bet on september? >> yeah. that's what everyone seems to suggest and i think that's probably in the cards, inflation, even with the tariffs
is not yet filling through higher inflation, the consumer spend more than ever although confidence weakened last week, that's indication that they are respond to go all the conversation about tariffs and recessions and things like that, but, you know, when you look at the real economy and labor market, it's till going strong, this is unprecedented that we are cutting raising in an environment where under by most measures the economy is doing quite well, i think the question is people don't think it's doing well enough. maria: the fed meets september 18th, we have the job report friday, the expectations are looking for 158,000 jobs added to the economy in month of august, unemployment rate to hold steady at 3.7%, is this what you're expecting and how would this play out in markets? >> well, yeah, again, a decade-long string of growth in the labor market, you know, this party keeps rolling on, whether the number is bigger or smaller,
still significantly positive month after month and unemployment phenomenal place, again, the real economy is humming along and conversation is it enough, is good enough or going for 3, we seem to be doing quite well month in and month out n. maria: 5 basis points? >> no, not 50. what are you asking for, 25. maria: come think 50, coming up a note out of jpmorgan, the head of the desk said something like, look, the best case scenario the job's number to be below expectations, it's 110 to 130, we will get cut in federal reserve, how important do you think the job's number is for fed meeting. >> i hate to disagree with jpmorgan but i think the numbers are baked in to markets and i
think they are demanding a cut and highest rate in the world right now. maria: so you think 25 basis points? >> i do. >> we really, the dollar is so strong -- >> yeah. >> thing we can do to decrease the the dollar, i'm hoping they cut it. maria: dollar could impact earnings. great to see you, thank you. >> thank you. we will see you soon. the battle at the border, pentagon diverting money from over 100 military projects in order to pay for the border wall, we will break down the numbers when we come back, earnings alert, better than expected earnings, this morning, just a few minutes ago the stock is up almost 10%, right now on the quarterly report, one to watch, handy trick, amazon's new technology that can allow whole food customers to pay using just their hands, back in a minute. ♪
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maria: welcome back, good wednesday morning, i'm maria bartiromo, 6:32 a.m. on the east coast, futures indicating big rally at the start of trading this morning, dow futures up and nasdaq up 74 on news out of hong kong on declines across the board on wall street yesterday, dow down nearly 300 points as the ism report impacted markets, the factory, the u.s. factory activity shrank for the first time in 3 years, s&p was down 20 and nasdaq down 88, global market this is morning taking cue from wall street, though, they are higher, ftse 100 up 25 in london, dax index in germany up 116 points, in asia
overnight, hong kong leader lam would formally withdraw the extradition bill, that bill has been causing the unrest in hong kong with protesters hitting the streets for 3 months, the bill has been withdrawn formerly and we will see what happens now with protesting in hong kong, we are tracking hurricane dorian this morning, new pictures showing the destruction in the bahamas and it is horrible. growing, this growing storm turns to florida and carolinas, the very latest on its path. preparing for bankruptcy, they filed for chapter 11, if no settlement is connected and more companies could be at risk for trial, new concern for autonomous driving, tesla car was actually on auto pilot when it slammed into a fire truck, and the trick, amazon's new technology that could help you purchase groceries by using your hand waving, pretty incredible,
top story this half an hour, border battle, pentagon to delay or suspend over 100 military projects in order to divert funding for president trump's border wall, estimate $3.6 billion will be freed up by this move, project expected to span arizona, new mexico and texas, joining us right now daily caller editor-in-chief christopher bedford to talk about that. chris, good to see you this morning. >> good morning, maria. maria: your reaction to pentagon moves? >> kind of expecting, they have been moving on this over declaration months ago and the administration says they are going to divert money, they just won their last court battle at the end of july when they got $2.5 billion from the department of defense's narcotics program, the sierra club would try to block that because it would impact environment, i guess people coming over the border and drugs doesn't hurt environment, they loss and had to work through the money and now moving through military funds, it'll be interesting to see, though, apparently we will
find out this week now where the money is coming from, mix of domestic projects and foreign projects and we will see which congressman and which senators are suddenly annoyed that money from their home districts, military spending, construction projects is now being reappropriated. maria: incredible to me that with all of the spending that's going on in washington, i mean, look at the budget that -- that they just passed, they can't come up with the money for national security, for a wall and there's so much pushback on the president's plan, it's pretty extraordinary given the fact that the spending is out of control elsewhere. >> it's all politics, i mean, whenever you see a politician saying we need to raise money to pay for something, as opposed to making priority, that's them saying it's lowest priority otherwise they would use the money from somewhere else in massive budgets to pay for the project but the president's hands are tied mainly by democrats who don't want to give them any victories and lead upping to next election.
>> let met move onto ig report, inspector general michael horowitz report that used briefing with president elect donald trump to gather intel for russia investigation, the meeting on january 6th, covered the steele dossier which contained unverified allegations, congressman devin nunes says horowitz is setting comey for conspiracy charges down the road, listen to this. >> the ig report even though it didn't lead to prosecution, it's a tremendous amount of evidence that would bill into the case that we have been making that there was, in fact, a conspiracy here and that's what the justice department should be looking at. maria: what are you expecting here, chris, we know what took place, we know that there was abuse of the fisa court, will we see accountability? >> when you see james comey walk into to meet with the president to brief him, help with this transition and say,
mr. president, you're not under investigation, and then run out to brief his friends, brennan and clapper, it starts to become sinister and looks very conspiratorial. whistleblowers go to prison for a long time, people who leak to the press go to prison for a long time unless they are at the top of the chain. i can't remember the last time a major head at the department of justice or the fbi or anyone basically from the washington, d.c. bureau got in trouble for what they were doing, they are law in themselves. maria: are you saying we won't see accountability then, we will continue to see people who had conspiracy tried to frame the president and the president-elect then will get away with it? >> we are closer to get accountability than we ever would have been if hillary clinton had won the election and guaranty we never would have known this stuff. maria: that's right. >> since donald trump won the election, we will at least know it, i'm not holding my breath that anyone is really held accountable or even their
pensions. maria: any reaction? >> what do you think about the allegation or this position that inspector general was setting comey up, he really does talk about what comey did was take information internal information from an fbi investigation and use it to accomplish his own political lens, that something that might be leading to more serious allegations coming forward. >> i'm expecting that they'll be more serious allegations coming forward and this lay it is ground for it, really sets the precedent on what we can expect to come forward, but you have to be careful, this has been drip, dripping for so long and we've been talking on this program about how clear it seems there's been a problem the entire time, hopefully, hopefully we actually get to the end of the road fairly soon. maria: you know, i've been asking all my guest who they think the master was and a lot of people continue to point to the cia, chris, so i'm wondering if john brennan is going to be
forced to testify because he was running around telling everybody, like, harry reid and others about this dossier and we know that the cia is the agency that really could gather the international intel, you know, assessors that we saw like those people who brennan were informants to george papadopoulos. >> some of our friends and sources are counter intelligence, as soon as the story start today break involving brennan and the dossier and these insane allegations and the leaks to the press, they all said that wreaked counterintelligence operation and intent to get this out to press to damage political leader and brennan has been very, very public since then, he hasn't gone into the shadows or slipped away, she's been speaking publicly for a listening time lexer have a big tart on his head and it would be important to pull him forward for testimony. maria: for 2 years he was out at msnb saying that the president
committed treason. >> that's a capital crime. treason is not a small allegation. maria: chris, thanks, we will be watching and i know you will as well, we will compare notes soon. >> thank you. maria: perdue farmer reportedly looking to file for bankruptcy protection, lauren with headlines. lauren: the maker can file before the end of the month if it doesn't reach settlement on more than 2,000 lawsuits its facing after turned 10 to 12 billion-dollar offer to bring lawsuits to an end. meanwhile u.s. district judge rejected move from drug makers and distributors to dismiss accusation that is they are responsible for the country's opioid crisis, the move moves away for landmark trial, perdue pharma, johnson & johnson, cvs and walgreens. paying with the wave of your
hands, amazon testing new payment system at whole food stores that scan customers' hands, you don't have to physically have to charge, you might start seeing technology in stores in next few months, reduces time for a transaction to 300milliseconds, pretty fast. price of being movie star, allow users to be in famous movies and scenes by up loading a selfie. users discovered that to use the app they had to sign away rights to the material, the chinese ministry of information and technology has launched inquiry into the app user agreement and the risks that it poses, once again, you put that selfie on something fun to put yourself in like a deep fake movie scene and then, oh, your privacy is at risk.
[laughter] maria: lauren, thanks. quick break and then google is in the hot seat, new antitrust probe from dozens of attorneys general, new concerns for autonomous drive this morning, new ntsb investigation finds tesla was on auto pilot when it crashed into a fire truck, we will take a look when we come back.
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maria: welcome back, headlines across america this morning, las vegas review journal the las vegas shooting site to become community center parking lot, las vegas village yesterday as part of an effort to help the community heal, site of largest mass shooting in history where 50 people were killed and space on the property to honor the victims, the omaha world harold reporting this morning on tariff effect on farmers, cost nearly a billion dollars this year, the bureau's top economist say that is the trade dispute is additional headwind for farmers an top of weather conditions, la time reports tesla car was on auto pilot when it kid fire truck, ntsb finds, the driver was using feature incorrectly, the national transportation safety board said the driver's
hands were not on the wheel for nearly 4 minutes leading to crash, thankfully nobody was hurt. i don't know how long you believe it's going to be until we see a fully autonomous car in the road, i don't think it's happening any time soon. we see situations like, this fatality a couple of years ago, not ready for prime time and i think you need regulation to catch that, what's your view? >> think about computer at home, how many times does it start, you can't reboot the computer in the car as you're heading towards the fire truck. we are not to the point -- we are not to the point at technology where it's reliable enough to put lives in the hands of a computer in a car. maria: yeah. >> ai is different if it's going to help you get ahead of disease, help you read a mammogram, you're not talking about someone dying, when you have ai in the car, that's a totally different. >> it's on a track, right, it's supposed towel question
automatic, they have a driver in the front in case of an emergency, so -- maria: they all have second driver and two people in the front. i don't like the idea, i don't think i'm being old fashion. i don't think it's going to happen either. maria: yeah, i don't think in the next couple of years. >> i have a truck where you get behind somebody and slow down, if you're paying attention that's helpful, even if you're not it can help you but you can't rely on it to drive for you. maria: the other story where someone was killed, the person was test of the seat watching videos, you have to be paying attention, you become complacent thinking the car will drive you. facebook expanding facial recognition but there's a catch, it might actually help protect your privacy, wait till you hear this, 1-800-flowers wait to go to sell on holiday rush
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maria: welcome back, jobs in america, exploding labor market means more jobs and more incentives to attract and retain workers, my next guest company announcing yesterday that it will be hiring more than 8,000 seasonal associates and offering competitive wages, flexible schedules and tons of incentives, joining us ceo of 1-800-flowers, chris, thank you so much for being here. >> good morning. maria: characterize what you see and why you need so many workers? >> i look at where we are in the economy, consumer confidence, with the momentum we have in our
business, we reported a great year, gave great guidance for this coming year, good growth top line and seeing moment carries in busiest holiday season, so we need to ramp up the seasonal workforce and make sure we can deliver all the millions of smiles our customers expect us to deliver. maria: sounds like the consumer is doing well from your standpoint? >> the consumer is holding up well nicely, we think that the consumer will carry the holiday season. maria: so, chris, seems to be this is great resilience of our economy, the may cri worker may be going down but you're adding 8,000 employees and i just like for you oh to characterize what those employees look like, we were talking about ism blue-collar index being high, tell us about your employees. >> that's great for the country, great for the point of view, great for the people who are setting jobs especially for labor force that wouldn't
participate, people with disabilities which is a great thing, more spending into the economy. we are hiring people in our warehouse distribution centers, production centers, retail stores, seasonal retail stores, call centers, we can deliver all of those smiles. >> when it comes to adding employees it's a tight labor market right now which in many ways is great but at the same time challenging thing for you, how do you handle it, how do you compete on wages? >> that's as job in retails to figure it out, it is challenging, we need to make sure that we have competitive programs in place, making it fun, giving product giveaways, flexible work schedules are critical for us in labor point of view, we have shift that is people could work 4 hours a day, 5 hours a day, 8 hours a day, whatever meets their schedule, very often single mom working at
home that needs four-hour shift, we can accommodate that, you have to have the flexibility and compensation appropriate for marketplace, you need to make it fun and get out there and deliver the message that this is a good place for you to come to work. >> at tend of the season are you finding that there are certain, you know, good-quality employees you want to keep on even though it isn't your prime season? >> that's one of the great objectives that we have and great opportunities that we have for people coming to seasonal job, to perform well with prospect of being kept onioned that, full-time employment or in many cases we have people who return year after year in certain areas like at facility in oregon, people return generation after generation and it's a great thing to have because it really becomes an extended family business. maria: good that you mention that, not just flowers, people are ordering foods. >> this holiday season the it's biggest possible season,
profitable quarter for us driven by gourmet side of business for us, 52% with cookies, two weeks ago we acquired a new brand called berry's, add to go food capability to solve more of our customers' gifting needs. >> it would have been great if you brought some. maria: little early in the morning for chocolate. [laughter] >> the economy is driving jobs, competition for employees is driving wages and that's good for american workers. maria: perfect example of what's going on in the economy, your business is a great reflection and yet we are talking about recession all of the time, interest rates at rock-bottom levels, do you see a recession on the horizon? >> well, i'm certainly not an economist and we look at things in our viewpoint, gives us confidence in short-term, no question, as we look at issues that we deal today with trade wars, our biggest concern is what does that have to do with the psychological impact on the
consumer. maria: chris, great to get your insight, 1-800-flowers, tracking hurricane dorian, category 2, powerful winds and growing in size and turning towards the southern coast of the u.s., we will take you there next. "changing what's possible" mean anyway? ♪ well... if you run a business, it means a lot. for starters, we provide you with financing options for your customers. that way, you can help them buy the things they love instantly and pay over time. and that turns them into serious fans. hang on, there's more. want customer insights? we've got those, too. we use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. and you can offer them the perfect products. that ceo gets it.
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maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, september 4t september 4th. your top stories right now, 7:0. breaking news this morning, the hong kong extradition bill has been fully withdrawn. hong kong leader carrie lamb making it official moments ago this morning. amid earlier reports of the news, that drove stocks higher across the board. in hong kong, throughout asia, and europe and the u.s. futures are poised for a big rally. dow industrials set to open up about 200 points out of the gate, he three quarters of. this after declines across the board yesterday, the dow falling
nearly 300 points on the ism report that showed factory activity shrank for the first time in three years. global markets taking a cue from wall street and trading up. cac up 54, dax up 114, that's almost 1% in germany. it started in asia. hang seng soaring on the news out of hong kong, up almost 4%, again, that extradition bill fully withdrawn. that was one of the catalysts that brought the protesters to the streets. they want autonomy. we'll see what happens now with the he protesters. we are tracking hurricane dorian this morning. we have new pictures this morning showing the destruction in the bahamas as the growing storm churns toward florida right now and the carolinas. we have the very latest and we'll take you there. google may be in legal trouble now, reports say the technology giant is being looked at by more than half of the nation's attorneys general. find out why. then farmers getting creative in their push for a trade deal. the music video you don't want
to miss with a mission, pass usmca. all that coming up this morning. coming up this morning, joining the conversation, fox news senior judicial analyst judge andrew napolitano is here, talking about the anti-trust into google. charles miers joins us. former chief economic adviser, ed lavere and waffle house's ceo on hurricane dorian. don't miss a moment of it. we've got a lot coming yo up. we kick it off with the news out of hong kong. carrie lamb withdrew the extradition bill formally. that bill was the catalyst that sparked the protests that took over the city. it allowed hong kong citizens to be sent to mainland china for trials. the hang seng soared on the news, up 4%, the others also in asia. joining us now is the director for chinese strategy, michael
pillsbury. thank you for joining me this morning. your reaction to this news that she is formally with drawing this bill. >> it's very good news. she wouldn't do it without permission from xi-jinping in beijing. the other demands, the demonstrators have made, they want a police investigation for brutality, they want some of their comrades released from jail, and the big demand is universal elections that china promised in 1980 and promised early in 1984 as well. sshe hasn't made enough concessions but this is a real breakthrough and bodes well for the trade talks. if xi-jinping approves this kind of concession for hong kong, maybe he'll approve the delegation coming here in p december and getting back to where the b president was in apl with 90% of the deal done. maria: so far we have no details on any meeting between xi-jinping and president trump
in september. >> well, if you read the president's tweets closely, from yesterday, he's saying they're probably going to try to wait him out 16 months and hope for a democrat to win. that's what the chinese tell me. the the pat hasthepresident has. their analysts seem to believe a democrat will win so they'll get a better deal. maria: what do you think the deal should look like? at this point the president outlined the big ticket items. he issued a stark warning for china, vowing to ramp up pressure if he wins the second term. that delaying negotiations would end in, quote, a much tougher deal. we know the big ticket items were the theft of ip, the forced transfer of technology. can the president do a deal without that? >> no. but those aren't the really biggest items. the biggest items are the legal enforcement system, kind of he three-layer system that bod bob
lighthizer outlined to the congress a few months ago. if there's misconduct again after the deal is signed, there will be a system by which companies who engage in intellectual or government agencies can be punished and there will be no retaliation from china for that punishment. that's a big part of the deal, make it legally binding. that's the problem in hong kong, maria. the british thought they had a treaty with china back in 1984. the chinese under obama a announced no, this treaty no longer is in effect. it's just a historical document. nobody called them on it. so that's kind -- so if that's the kind of thing that happens with the trade talks it means we'll have a piece of paper that can't be enforced and president trump will be under tremendous criticism from the right and the left. what i've been talking about is the idea of escalation, maybe we need to do more to get the attention of the chinese. they're not feeling the pain yet. this is something that's objective versus subjective. objectively, you and your guests can all talk about oh, my god,
china's feeling such pain, look at these indies sees. but from what i hear from the chinese, this is nothing to them and they're talking now about getting ready for a 100 year marathon. they're not feeling any. pain. there are things the president can do that will really make them feel pain. maria: this is the 70th anniversary of communist china coming up, october 1. there's huawei pain. the chinese technology giant huawei has felt the pain of the ban. now it's accusing the u.s. of committing cyber attacks and coercing employees to gather information on the company. when you look at the huawei situation, that has been a real tit-for-tat and people feel that that ban, that lift, the blacklist was actually very impactful. >> the president's on the right track obviously with huawei and the blacklist or the entity list. however, huawei is one of 100 giant chinese companies that
engage in the same kind of wrong-doing. to get after all 100 of them, there's a way to do that. many of them are listed on the nenew york stock exchange and ty have a waiver from the s.e.c. that goes back many years. they don't have to undergo auditing. china says our large companies internal affairs are state secrets, we're not going of to let you audit them. this is shocking for the average investors that so many chinese companies are on wall street without being audited. a stroke of the pen and that waiver will be ended. then all these companies have to be audited. there will obviously be trouble found in their books. you're talking about a large slide in stock market listing prices for china. this is one of many things that could be done. there's a set of steps the president could take. the chinese are betting he will not do this. maria: this is a really important point that you're making. if the president takes that extra step to try to look at zero in on those companies that actually trade in the united states or even put any limit on
the listings, chinese companies going public in the new york stock exchange or nasdaq, that would be a big hit to china. >> we'vthey've.>> they've got te accounting standards. maria: you expect you're a public company, you have to meet the accounting standards. >> some of these companies, i think 11 or 12 of them, are state-owned enterprises. the very so-called national champions that have been doing the technology theft. maria: that's unbelievable. huawei, isn't huawei originally nortest l networks. the crux of their business is from nortel. >> they're technology thieves from way back. they also had help from the government, getting their market share. they're the number one telecommunications company in the world. the fo reason for that is how mh we've helped them. maria: my take-away is that beijing keeps breaking their promises. they broke their promises to hong kong and the wto. why wouldn't they break their
promises to the united states and you're saying yeah, that's why they reneged because they wouldn't agree to the enforcement the u.s. wanted to put in place. >> it's not official, maria. but three white house sources told reuters that the chinese reneging was removing the parts of the agreement that had to do with legally binding enforcement. that's the crux of the matter. maria: unbelievable gl yo. >> you know the chinese deny everything. maria: they won't even admit it. the extradition bill formally withdrawn, you think it's good news. what else should we look at in terms of the next catalyst. >> the next catalyst is the delegation coming or not coming to washington for round 13 and what they bring with them. if they say okay, we'll let some of the legally binding language go back in, that's really good news. maria: we'll leave it there. >> the other big news is whether escalation is needed or not. maria: escalation.
>> the president has a range of options he can choose from. he could raise the tariffs higher. tariffs can go to 50% or even 100%. maria: that's going to impact the u.s. economy. >> you're telling me. but don't forget the president's point. this should have been done 30 years ago. maria: michael, it's great to get your insights as always. thank you so much, sir. we will see you soon. meanwhile, hurricane dorian bearing down on the united states after causing major devastation in the bahamas, at at least seven people have been killed. evacuations are underway for millions of residents in the path of the storm along the southeast border. allison barber is in fort pierce, florida right now. al son. >> reporter: hurricane dorian is expected to move along the coast of georgia and south carolina and possibly make landfall in north carolina on thursday. the acting fema administrator said late yesterday that at this point it seems like the impacts of dorian in florida will be minimal.
from what we've seen, that has been the case. we're sort of following the tale of the hurricane. we're getting the very end, the last little bit of the outer bands as they pass through this area and dorian continues to move up north. it seems this area where we are now, this marina, seems like they did experience some flooding. if you look a little in front of me, you can see some of the debris that's over here. if you follow a little further back and look up and it's probably hard to hear, but we can hear the loudest sound that we can hear is when the wind comes through, the flapping of that sail that has gotten loose there. on the whole, the rain has let up. it was mild this morning. the wind has remained mild here as well. there are still evacuation orders in place in some counties. seven counties p. this one where we are right now, saint lucy's county, their evacuation orderlies ted at 6:0t 6:00 a.m. officials are warning anybody north of here to stay attentive, not let their guard down because this storm is still making its way up north.
maria. maria: allison, thank you. allison barber this morning in florida. coming up, google under fire, more than half of state attorneys general taking a closer look at the company's potential anti-trust violations. facebook is expanding facial recognition now. there's a catch. it may actually help protect your privacy. we'll check it out. ♪ -guys, i want you to meet someone. this is jamie. you're going to be seeing a lot more of him now. -i'm not calling him "dad." -oh, n-no. -look, [sighs] i get it. some new guy comes in helping your mom bundle and save with progressive, but hey, we're all in this together. right, champ? -i'm getting more nuggets.
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you'll see what a fair price is and you can connect with a truecar certified dealer. now you're even smarter. this is truecar. maria: welcome back. a north carolina trial court rejecting state legislative district maps. lauren simonetti with headlines now. lauren. lauren: a three judge panel saying gop legislators took extreme advantage in drawing voting districts to help elect a maximum number of republicans.
they say it violates the rights of democratic voters under the freedom of assembly clauses. republicans say they will not appeal the ruling. the court gave lawmakers until september 18th to redraw the maps to be used in next year's elections. looks like at&t is lang the grounlang thelaying theground w. stanke will resume new responsibilities next month. let's take a look at shares of at&t, up 11-cents in the premarket. facebook making a significant policy change. it is turning off all facial recognition, making users choose to opt-in if they want to use it and if you already have the feature turned on, you're going to receive a notice telling you how to turn it off. so this means that facial recognition won't be used by default to recognize someone's face in photos or videos or to
suggest them and their friends and how they tag us. the change comes as facebook remains under pressure to better protect user privacy, maria. i like that. it's the way europe does it. you opt in if you want this technology. i don't want my features, my face, my finger prints being out there without my permission. maria: nobody does. there's a lot of debate about facial recognition. big tech in legal jeopardy, more than 30 states are targeting google in an anti-trust probe. judge andrew napolitano is here to weigh in. and lamborghini unveiling its first hybrid car. how fast it goes next up. back in a minute. ♪ hey, hey,. ♪ we ain't got to feel so bad. ♪ hey, hey, these are days you can't get back. ♪ t comes to your money?
maria: welcome back. big tech in he legal jeopardy once again. google the target of a multistate anti-trust investigation, led by more than 30 state attorneys general. they are arguing that google and other technology companies have so much user data that competition from newcomers is also impossible. joining us right now is judge andrew napolitano. >> good morning. this should not be a surprise, when the anti-trust division of the justice department, the federal government, announces that they're commencing an investigation, sometimes they announce the investigation by filing a complaint, sometimes the investigation takes years because there's so much information they have to gather from the entities they're investigating. it's not surprising for the state attorneys general to do the same thing. the feds are looking to correct what they believe are monopoly
practices, practices intended to prevent any competition from entering the marketplace. the state attorneys general only want one thing. can you guess what that is? cash. they want to shake down google to get these investigations to go away, so they can supplement their state treasuries. that's all they're looking for. the state anti-trust statutes mimic almost word for word the federal anti-trust. maria: judge, google has 90% market share in search, right? >> the question is, did they obtain that 90% by any i'l illel means or do we all use google because we love it or because there's nothing else to use. maria: it was first so it had the runway to gain all that data. >> the essence of the anti-trust investigation cannot be the search engine because there's no charge for using it.
the essence would have to be something to do with how they earn their income, which is advertising. what do they do to advertise? are they forcing advertisers to take more advertising than they want to? it's call a tying arrangement, i only want to buy one package, they're going to make me buy 12. so it's fact-sensitive. i don't think the doj knows where this is going to lead yet. the doj has done the right thing by commencing an investigation, getting documents from google, looking at the documents and seeing if there's evidence of monopoly activity. maria: i've been working on a piece, looking at the fact that google walks away from the pentagon, the project ma the prd yet it has an ai lab in china. i wonder what that means in terms of china trying to use google to spy on the united states or get a better trade deal. i mean, i just wonder how china is using google since google walked away from the pentagon. >> as you know, during the break we were talking about this, and
the great andy said not only does china have all this information, who smoked two packs of cigarettes last week on their own people, they're gathering that on us. how do gathe they gather it on ? by getting into american technology. isn't it bizarre that google and silicon valley would dump the pentagon and pick up a contract for the chinese government. the president complains about that, that's a legitimate complaint. maria: in china there's civil military fusion, any technology that goes to china first will go to the military. >> right. no surprise. maria: not like you can go work on commercial things in china. no, if it's working for the military, that's where it will be used. >> so when will this -- maria: where does it go? >> i was going to say, when will the investigations by the 30 states attorneys general go away, when the same 30 states more or less attorneys general investigated big to tobacco, thy coughed up enough money to make
the investigation go away, that's when it will go away. google is wealthier than big tobacco. i don't know if it will be settled quickly or in the long mariarun. maria: it feels like when microsoft was the target. >> if you run a big company, you deadeal with this all the time. you settle for less than legal fees because you want to get out. it's the same thing with the -- at the federal level, there's a legitimate investigation. >> agreed. >> at the state level, they just want the money. they'll settle for whatever amount of money they can get from the companies. >> google cannot conspire with other big tech to agree on a price of anything. but the 30 states attorneys general can conspire with each other and agree on how much they want to take from google. maria: that's very interesting. i want to ask about the ariana grande story. >> this is a field i know a lot about. [ laughter ] maria: she's suing the retailer
forever 21 and she claims the brand posted misleading photos, using a model who looks just like her and seemingly copied imagery from her seven rings music video. there's ariana grande on the right. >> if this case is not settled, a jury in los angeles will be looking at the same pictures we're now looking at and saying aren't they confusingly similar. so the law is that forever 21 or anybody can't just take ariana graarianagrande's impact and dut or nearly duplicate it and try to sell something without getting a licensing fee from her. i'm not an ariana grande fan and i've never shopped at forever 21 but they look confusingly similar to me. maria: they have the same hair piece on. they put almost the same outfit on. >> talking about a lot of money. according to the complaint, one
instagram mentioning one product sells over $100,000 of that product in the next five minutes. maria: wow. oh, my god. >> varney wishes he could move a march he get like that. maria: they call her an influencer. thanks so much. coming up, eye on dorian, storm surge warnings in effect from florida to north carolina this morning. where will it make landfall? we're going to take a look when we come back. trade tensions weigh on consumers, we're taking a look at that and the impact on manufacturers, next, back in a moment. ♪ i just want to be your everything. ♪ open up the heaven in your heart and let me be. ♪ the things you are to me at synchrony,
for starters, we provide you with financing options for your customers. that way, you can help them buy the things they love instantly and pay over time. and that turns them into serious fans. hang on, there's more. want customer insights? we've got those, too. we use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. and you can offer them the perfect products. that ceo gets it. from adding unique capabilities to your company's apps to bringing you loyalty programs, our technology and financial solutions are changing what's possible in all sorts of ways. so, how can we change what's possible for you?
should always be working harder.oney so, how can we change that's why, your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, september 4t september 4th. your top stories right now, 7:3.
markets are rallying this morning, indicating a 200 point move at the start of trading. s&p futures up 23, nasdaq up 73. about 1% higher. it follows declines yesterday, the dow falling nearly 300 points as a decline in manufacturing activity spooked investors. the dow was down 285 yesterday, the s&p down 20, nasdaq down 88. today we have breaking news out of hong kong and that is lifting many boats around the world european indices are higher across the board. fq100 up 25. cac up 57. dax up 119 points, 1% even. in asia overnight, the hong kong soared on the news out of hong kong and we know that extradition bill has now been formally withdrawn by the head of hong kong. the hang seng soared on that news, up almost 4% overnight. there's this, dorian's path of destruction, devastating winds, torrential rains striking the bahamas, killing at least seven people. we're taking you there live, taking a closer look at how the
storm is affecting coastal residents in the u.s. as the hurricane moves close to shore. heightened trade tensions continue, president trump issued a stark warning yesterday saying he will be tougher on beijing if it continues to delay a trade deal. china already feeling the heat from the feud as economic growth decelerates to the slowest pace in decades. spotlight on usmca this morning, one group of farmers using a parody in their push to adopt the trade pact. wait until you see the video. we'll bring it to you. all that coming up. plus, cracking down on climate change, 2020 democrats are gearing up to tout their plans at a town hall tonight. we break down the plans coming up. plus, lamborghini's first ever hybrid sports car has arrived. we take a look at the company's most powerful super car later this hour. all those stories coming up. the top story this half hour, hurricane dorian bearing down on the u.s. evacuations are underway for many residents in the path of the storm. joining us right now on the telephone is former u.s. army
special operations and strategic advisor at white fox defense, brett velecovich. you evacuated your home, you took the directives. where are you now? >> hi, maria. thanks for having me. yeah, we're safely located in the mountains of north carolina right now. we're outside of asheville and we evacuated, so i live in savannah, georgia typically and we evacuated basically after the governor issued the mandatory evacuation order when our county was on the list monday and we -- they basically had done that for counties that were east of i-95 in georgia and really we were told to get out, we went around, got last minute supplies. i'm surprised how many people stayed. i think a lot of residents have gone through hurricanes before but i remember being a part of emergency response team for hurricane harvey and helping people who had essentially lost everything and almost every one
of them said the same thing, we thought it was okay, we thought it wasn't going to be bad. we made it a point to get out of there. highways were pretty packed almost immediately, they started blocking traffic moving east out of i-26 and opened up the other side of the freeway so -- pushing all the traffic to the west of if state and now -- really i think the biggest concern is just the storm surge that's coming up. there's a curfew in place in savannah, georgia. bridges are all closed. police are saying anyone out during the curfew could be arrested. it's tough to get out now. but we're doing fine. we're glad we were able to get out of there. i'm mostly concerned about folks that didn't have the capability to get out as well. so -- maria: we'll be watching. you're not nervous about north carolina, obviously. you went to the mountains there. so you've gone way back from the shore. what did the activity feel like
when you were leaving georgia? i mean, did it feel like a state of emergency? >> yeah, i think so. it did for the most part. again, except for a lot of folks were trying to -- seamed to ride it out. the highways almost immediately when the evacuation notice was issued we got text messages over the radio to get out. highways were packed. it took us twice as long to get to our location as we thought it would be and dorian -- the problem with savannah, georgia, it's a low-lying coastal area. even 4 inches from rain, they've had flooding. so they're really, really concerned the storm surge is going to push a lot of flooding into the city, even despite the fact that it looks like the hurricane is reducing in strength and so -- maria: yeah, andy, you made the point earlier that just because it's down to a category 2 doesn't mean it's not going to be incredible gusts of wind and major -- that's what you said about sandy, right. >> they were saying this
morning, i saw janice dean, she was saying sandy was a category 1 so people in the northeast should be able to rea late to the fact that that can be a terrific storm. you shouldn't feel comfortable just because it's a category 2. get out of town. maria: thanks so much for sharing your story with us this morning. want to turn to trade and tariffs this morning. the late tes latest round of tas going into effect this week, affecting coffee, tea, appliances, televisions, among other goods coming from china into the united states, this comes as the swiss bank ubs is predicting the latest trade dispute could lead to a recession in the coming years. joining us right now is american footwear and aa peril president and ceo rick healthenvine. what are you hearing from managers and ceos from people in your business. >> i would like to hear a little less from the ceos. the phone is ringing off the hook. they have real concerns because
irregardless of who says who pays for the tariffs, it seems the u.s. customs has a direct line to their checking accounts. working capital is shrinking. that's a concern for business. we have some ceos talking to me about isn't it great that the interest rate is low because now they have to borrow money to pay taxes. maria: wow. >> it's a concern. traditionally, the retail industry, i don't want to use the "r" word but we're the first one to be called into it and we're usually the first ones to get out of it. and we're not seeing it yet. but this could cause a contraction. we call it the sen cinderella tx which hit us on midnight saturday night when our clothes turned to rags. cinderella taxi tax is a real frightening thing for us. we make our money in the fourth quarter of the year. we've been struggling all year. and somebody tells us we're
going to take 15% right out of your pockets. it's a problem. it's a real problem. we talked to the administration at length. we asked them repeatedly, please stay away from the consumer. for a long time they've been listening. but suddenly in this last round they've come after the consumer and we worry. i mean, we worry for us because we don't have choices in where to go. 41% of all apparel comes from china. you could argue that all day long and say bring it back to america. we would, if we could. 69% of all footwear comes from china. 84% of accessories including hats and handbags comes from china. maria: wow. >> we don't have a place to go. we're trying to move out. the president's telling us to move out, so be it, we'll move. but it will take three to five years. we can't do it. so we're going to have to stay there and eat the 15% and thats going to get passed on to the
americans consumer and we say watch out. >> a lot of people worry the way you do that the consumer's going to pull back especially during the holiday season and that's why the president himself delayed some of those tariffs. but there are others who will say consumers are more resilient than you think. they actually understand what's at stake here and they're willing to pay slightly more for these goods because they understand it's a longer term game. what's your argument to that? >> well, it's sort of in our industry, we look at three things. we look at the unemployment which right now we have low unemployment. maria: 51-year low. >> it's fabulous. we look at consumer confidence. flat but holding at a good level. and then we look at the price of gasoline. price of gasolines goes up, the amount people pay for goods goes down. so we're worried that longer term they have less money in their pockets. they will buy less. it's a pretty simple formula in our industry. as prices go up, sales go down. jobs get lost what do you make of the strength of the consumer?
nancy, you were telling us the u.s. consumer, 17% of the global activity. how come they -- right? >> i'm wondering if in fact you're seeing a slowdown or you're just worried that it will come. >> we're worried. maria: it hasn't come yet. >> hasn't come yet. we think six to nine months in advance. we see a slowdown in buying. you saw a slowdown in domestic manufacturing yesterday. we worry in front of us. >> you've got low interest rates, low gas prices, so that's good news going into the fourth quarter. >> all the signs are good. we wish the president would hold back for the holiday season. we wish that we had spent more time at the negotiating table. maria: this is real important because the president is a business president, first business president. he needs the economy to stay strong going into 2020 if he wants to win re-election. this is not good timing for all of that. >> no, it's not. the president is -- rick, i know rick is generally supportive of what the president is trying to do. but the president's trying to
fight the good fight. this is a fight that should have been fought 30 years ago. if we're ever going to fight it, we should fight it while the consumer is strong. with wages up, the number of people working up, taxes down, so they're taking home more of what they earn, now's the time to fight it. what's the alternative? the alternative, just to let china run rampant over the united states. we can't do that. so i appreciate what rick's facing and i'm glad i'm not facing the same problems and i know you've tried to move some supply chain out of china. there's the garment industry that's moved in a big way to vietnam if i recall. >> that's right. >> there's not enough capacity. it's going to take some time. it's a problem. we need economic growth for the next election. but when do you want to fight this fight? maria: it's a really good point that you mentioned. i wonder, rick, how many of your companies, footwear, apparel companies, have the same exact apparel and footwear in china with a very similar name but a
little different look in the logo that china just stole from you. >> oh, we have that and we've actually been fighting that in the courts in china with some success. we call them parasite brands. it's ugly. we've had some decent luck with the chinese in fighting it. chinese would like counterfeits to go away. we look at it as market, we want to sell into china. that's one thing the president has said, market access. if you want to sell, why are you telling us to get out? we would very much like the to sell into china. maria: i think many people would like to but i think for many years american businesses were so interested in getting a piece of that 1.4 billion person population, they forgot to protect their own products. >> that's you true. maria: here we are in this fight. will you come back and give us an update. thank you so much. coming up, a message in a song, some farmers fed up over
congress stalling on passing the usmca trade deal. watch. ♪ are you listening to me? ♪ i said trump, man, do you want to sell beef. ♪ i said, trump, man, you can make real your dreams. ♪ but you've got to know this one thing. maria: more of that message after the break. plus, lamborghini debuts its first ever hybrid super car, how fast it goes, next, right here. liberty mutual customizes your car insurance, so you only pay for what you need. i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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maria: welcome back. democratic presidential contenders set to tout their plans to tackle climate change. lauren simonetti with details. lauren: it costs green to go green. the candidates are laying out their costly plans to address climate change ahead of tonight's forum. senator bernie sanders' $16 trillion plan calls for the u.s. to eliminate fossil fuel use by 2050. senator elizabeth warren says her $3 trillion plan would be funded by, get this, reversing president trump's tax cuts. well, farmers in missouri, they want congress to pass the usmca trade deal and they produced a music video to get lawmakers' attention. ♪ we need to pass the usmca. ♪ we need to pass the usmca. ♪ we can grow everything that people enjoy, like chicken, eggs and soy.
lauren: well done. it's a parody of the hit song, ymca. the group says the trade deal will benefit farmers as president trump presses lawmakers to ratify it but democrats, they're still holding out. and if you have the need for speed, check out this. lamborghini's first hybrid car, it's called scion. which means bolt of lightning. it goes from zero to 60 in less than 3 seconds, make it their fastest car. the price tag rumored to be in the millions in case anyi anyons in the market. maria: i don't know what to react to, the lamborghini or the song. carrie lamb officially withdraws the ex take dig extradition biln causing unrest in hong kong. and the ceo of eqinex is here with a look at his business, the
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maria: welcome back. the big business of big data, eqinox is one of the leading data center and co-location providers across the world, recently reporting its 66th cor66thconsecutive quarter of gh and now serves more than half of the fortune 500. the stock is up nearly 60% this year. joining us now is the ceo, charles miers. thanks for joining us. >> good morning. great to be here. maria: you've actually been ann incredible recipient of the good news of the data that's been gathered and exploded over the last several years. characterize your business.
>> we're helping our customers really think through their digital trans for transformatioa which is board level order fo py for a lot of our customers. we house the digital infrastructure in our data centers around the world. we're housing some of the most important digital infrastructure out there. maria: how tough is it transition for a traditional business, to see the amazons of the world come in and take market share and force the company to transition to digital. >> we see it as consumers, digital is changing our lives, how we work, live, eat and sleep, everything. it's also changing the basis of competition in virtually every sector around the world many and so the companies that are responding well to digital are thriving. and the ones who aren't are struggling. maria: yeah. >> we were talking just he briefly about the cloud and certainly everyone thinks that microsoft and amazon own the cloud space. talk to us a little about how you're benefiting as well. >> the cloud is a major driver,
underlying driver for our business. and so what we're finding is customers are really cloud first in their mentality in terms of how they're thinking about digital infrastructure. it used to be they would own and operate and manage those, build their own data centers. they're really now thinking we want to be more asset-light. we have critical infrastructure that we need to manage for security performance, compliance reasons, et cetera. but we want to push to the cloud when we can and when they're looking to interconnect to the cloud, they're really doing that at eqinox. it's a may r juror driver for our business and -- major driver for our business. and we're big partners and all the cloud providers are major customers of ours. >> with the 30 year now at 1.9, tell us about your dividend growth for investors that are searching for yields. >> an incredible story fors us has been people saying we love the dividend yield, we're at 1.8% today with the 10-year at one and-a-half and year -- yet, at the same time they can get
that healthy dividend yield which we believe will continue to grow based on the strength of our business and they can play the growth story of really the digital economy at the same time. maria: where does the growth come from now? look out the next five years. >> i think there's a number of dimensions to that. there's a geographic dimension. we're seeing strength in asia as well as in europe, about 55% of our business is outside the u.s. now. we're a very global business. but it's also being driven by these underlying secular trends, whether that's artificial intelligence, iot, 5g, big data of various sorts. i think those are really underlying trends that are just fueling data and the digital economy for customers. maria: has the china dispute affected your businesses in any way, given the global nature of it. >> not as much. we are not directly impacted by tariffs because there's not much of our cost of goods that is tariffed. but i think it impacts sentiment. it impacts how people are thinking about their business. but it's really interesting in that some of the sectors that you would think are most sensitive to tariffs, retail,
manufacturing, actually are some of our strongest sectors right now because they have the strongest digital transformation priority. >> i have a follow-up, if it's all right. we heard from cisco's ceo that he was just not being invited to the business. so it wasn't the tariffs but it was that local sentiment which you alluded to. has that impacted you at all? >> i think it's interesting, when you talk about trade and what has happened, i do think physical trade has reduced in terms of cross-border trade for a variety of reasons, localization of thinking, et cetera. but digital trade is really fueling the economy and so i think what we're seeing is that's still a huge priority for people and really driving their business. they're making investments. maria: there was a moment in time during the dot-com boom in the '90s when companies were saying i've got to get in here. are you seeing that kind of scramble with ai that companies need to put ai in their business
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good wednesday morning. thanks for joining us. i'm maria bartiromo wednesday, september 4 your top stories right now 8:00 a.m. on the button east coast futures poised for a big rally the start of trading check this out high is the morning your futures up 215 points s&p up 25, nasdaq up 81, as we have breaking news this morning out of hong kong even though a decline yesterday the dow down nearly 300 points close on weak manufacturing data. but the global markets this morning are rallying on news out of hong kong, take a look at the european indices ft 100 up 25, catafalque in carris up
6 dax cac quarante up 62 dax better than % on contacts and dax in asia overnight green hang seng up almost 4% on news the controversial extradition bill will be formally withdrawn has been formally withdrawn by leader of hong kong, we also have breaking news this morning hong kong leader carrie almost a made it official, and that is this is really what started all those protesters in hong kong that extradition bill fully withdrawn more on impact this morning, aside from rallying the markets, this morning, we are also tracking hurricane dorian today we have new pictures this morning, show destruction of the bahamas storm churns toward florida carolinas latest coming up joining the conversation we've got ceo of waffle house wallet elmer joining us with the host of "varney & company" stuart varney don't miss this big hour coming up, right here, we are kicking off with top story
rallying markets, after a dismal day yesterday on tuesday, the markets this morning are up better than 200 points, coming back, from that big sell-off yesterday weaker than expected manufacturing data sector shrinkingh first time since 2016s blaming heightened uncertainty in globaling manufacturing to heightened trade tensions with china former economic advisory to he george w. bush thanks so much for being here. >> nice to be with you. >> back-and-forth every day, with markets, as investors react, every word coming out of china or u.s. how do you see things? >> well, you know, if you look at where we are right now, compared to where we were a year ago i mean the reality is the numbers almost all the numbers are weaker today than a year ago so you know, it is -- it is not quite as rosy a scenario as it was -- in 2017,
but we're not in disaster situation right now. what the market is basically telling us is and, by the way, when i say the market there are a couple measures what market is seeking people have been talking about yield curve a whole lot past few weeks, but nigs to it yield curve you simply want to look at stock market, that is forecasting not recession just forecasting slow growth. right now if you use the s&p 500 which is one that i use, that is the best indicator of where we're going next four quarters showing somewhere around one and one half to 2% growth not recession, but note spectacular breakout growth. want the yield curve again, you know somewhat more problematic, but -- that is something that usually forecasters up to two years in advance not clear telling us we are in imminent danger. >> look at dollar, touching the highest level more than
two years constant gloomy oubl outlook about economy uncertainty over trade is this cuting into earnings economic growth one more pressure on -- on overall economic activity? >> well, i think it is, and i think, all of of these things are again looking at things slowing down so remember what is a recession mean 2 recession simply means we've passed the peak the question is are we going to hit a peaks sometime over the next two years? and the chances that we are, are you know probably 150-50, what you are basically seeing slowing as you get close to the top of the peak you see that in a number of indicators, look at labor market last year creating about 225,000 jobs, now down to 150, 170 still not bad still in on a recovery pace, but slower than we were last year, look at investment investment has slowed look at
manufacturing, you have been mention that a good bit in your program this morning, manufacturing, has slowed, one of the things that is important to recognize, by the way, is that manufacturing retailing and construction account for 150% of the job loss when you go into recession, so it is important to keep watching those sectors because they do foretell the future. >> central banks across the world are stimulate we go know european central bank in favor of a stimulus package could true rate cut new guidance ecb president told us that that they are looking for more stimulus, boston federal reserve president eric said he doesn't think an interest rate cut is need, in the united states, at the moment so when you look across the world you see all these a central banks stimulating. you see the 10 year in u.s. at below 1.5%, it is a big month central banks this month what should we expect what is the impact? >> well, you know when you
look at -- you mentioned the 10-year rate so let's think about the yield curve for a moment you basically have two sides to the yield curve right you have the long-term rates and you have the short-term rates, and what the long-term rates generally indicate is expectations about the future, so when long-term rates are low essentially what that is telling you is that people don't think that the future is quite as rosy as it was you know, as i said maybe a year ago. when you look at short end of it what that is telling you that is the fed is in a con track shunry mode if you look back to reprieve, previous two recessions what happened long-term rates not low they were pretty high but the short-term rates even higher so right now in a waigs where long-term rates are low, in absolute terms but as you pointed out they are not low relative to the world capital markets 10 year one 1/2% here look where it is in germany negative .7%.
maria: right. >> so in relative terms we are still pretty high on those long-term rates so the question is you know where should we be going from here interesting the fed is having the debate right now, and not all players are the ones that i'd predicted actually being on the different sides of it so it is quite interesting to be an watching this. maria: you are right a division between federal reserve even bill dudley former president new york fed answering backlash on scathing op-ed last unique with new one in bloomberg this morning here is what he is saying, what i meant when i said don't-able trump writes dudley as i saw it binges of the trade war president's tax on fed threatened to but central bank in untenable position president trump shifting responsibility from downside risks from tried war on to fed i thought an important issue worths exploring writes day got so much backlash on that op-ed he wrote last week.
your reaction to what bill dudley is trying to say. >> well, you know i mean in terms of his principle situation private individual now he can say what he wants. the fed should not be thinking in terms of politics certainly in terms of of affecting elections would be terrible precedent. if i am chairman right now looking at the situation, and i am saying you know what should we be doing, they are basically two kinds of mistakes that the fed can make the first is cutting rates, and then after the fact wish it hadn't or opposite is refusing to cut rates then after the fact wish that you had it is probably this could the second endangering is more pronounced than the first one downside associated with second one is probably more significant if i were chairman powell i think that is how would i be thinking about it trading off two kinds of mistakes that you can make, and thinking about when one is going to be more detrimental
to the economy obviously, you don't want to make either mistake if going one way or the other my guess is that they are thbdz towards being a little bit more lenient right now and they are not worried about politics of the election. >> where is this headeded? yesterday we a had factory data obviously, showed manufacturing in fair and accurate to say shrank first time in three years then you've got consumer two-thirds economic growth seams doing very well ask consumer spending sentiment is upset how would you characterize things right now and are you expecting a recession at some point. >> well all right -- >> in your terms not -- >> kwlae let's take that piece by piece you said consumers are spending i think spending by the consumers reflects what we are seeing in labor markets labor markets still slowing, unemployment is very low. employment is relatively high even wage growth looks pretty good, so all of those things feed directly into consumer spending and i think that is when we're seeing.
if you are thinking about the future, the numbers that you talked about this morning, the ism, they are not they don't necessarily predict what is going on, they are indicators of a slowdown, and to my mind, the most important indicator that i have seen over the past couple of quartz, is investment so we had, you know, a couple of very good investment quarters in 2017 not quite there right now if i am this could about the future those to me are the most important indicators now you said are we going to have a recession, again i go back to what i said earlier we know we're going to have a recession at some point because recession just means we have peaked we are past the peak we know we are going to have a recession at some point i don't think markets are telling that recession is imminent the next two to three years i would say certainly 50% >> we are on year 11 of this
expansion i get that, quick we got job number on friday a fed meeting on the 18th. this month, what are your expectations for the job number and do you think the fed he cuts rates? on the 18th? >> i am terrible at predicting if i have to give a prediction would i say somewhere in 150,000 range about where we should be right now. maria: yeah, that is pretty much where the economists are 158. >> yeah, you know but we're -- we're maybe slightly worse than weatherman, but, you know, i am not sure how we are in terms of. >> what about the fed. >> in terms of cutting cutting rates, you know, i would be very surprised if they don't cut at this point. all the numbers seam to be moving in that direction so i would and they are going to cut. maria: all right. we will see if 25 base points president talking about one point over time. ed great to see you.
thank you so much. >> thank you, maria al pleasure to be with you. >> and you. >> breaking news hong kong extradition bill led to the months of protests finally withdrawn formally hong kong leader carrie almost a made it official today susan li with details. reporter: this is a stunning withdrawal by hong kong chief executive by extension beijing both sides o protesters hong kong government seemed dug in to thoughts not giving way in terms of middle ground looking at highly controversial extradition law sparked off insgaitsdz three mince protests would have extradited hong kong residents expats to mainland china to face trial judicial system as you know different from we were countries the fact it has been withdrawn this is one of the top demands bring up dwrafk number one when it comes to what hong kong protesters were looking for in terms of disconnecti con
sex you can read a washer blink by government we heard from carrie lam embattled chief of staff in televised address in hong kong basically saying this is officially withdrawn hoping hong kong can recover from the summer of protests. >> incidents over these past two months have shocked and hong kong people we are very anxious with hong kong our home we all hope to find a way out of the current impasse unsettling times. reporter: also in carrie lam's address should be noted she says that what has happened in vandalism a violence, in hong kong over the past three months this is a direct challenge to one country two system both have put hong kong in highly vulnerable dangerous situation, because as you know and as we've talked about there is, of course, a buildup to hong kong border 20 kilometers away from hong kong
border troops artillery tanks we know that has presence in hong kong. >> thank you susan li latest great job reporting owing in hong kong susan li. >> dorian's path of destruction next. stay with us. al my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin.
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because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. 110 miles per hour over two million along the coast in florida georgia north a-south carolina warned to evacuate. >> tidy island georgia mr. mayor thanks very much for joining us how are things this morning? >> well actually just left a few minutes ago in savannah much higher ground, and things are looking like we might be similar to scenario what we have with hurricane matthew in
where significant surge heavy wind i am hopeful this will wobble east a a little bit not do the opposite if it wobbles to the west we're looking at very real possibility of hurricane-force winds right now forecast just has the same tropical storm starting sometime probably around lunchtime. maria: yeah i mean it is important to take note, of the fact that the storm was downgraded now occasion two but because of that people are letting their guards down saying the worst is over, can you talk to us about the path what you see when you have a storm, get downgraded and yet when it makes landfall feel like a category you know, three, four, five? >> if you havever been in 50 miles per hour rounds it is not somewhere you want to be you got trees can come down power lines can come down tidy
we are kkd to the mainland by causeway that floods, if it is too high, there are anticipating national weather service anticipating that road will be corresponded with water closed they say 10, 2:30, 4:00 a chance same thing will happen, thursday morning early 1:30 tide around that time people have not left yet. they need to leave now don't want to wait until that tide comes down because they are dealing with tropical storm storm force winds don't want to drive through tropical storm force winds. maria: your prayers with you an residents thank you for being here. >> thank you very much. >> coming up dorian path of destruction devastating winds torrential rainz struck bahamas killing people we've
got ceo of waffle house coming up to discuss how his company is aiding in disaster relief efforts walmart plans to dramatically step back from ammunition saeflz asking customers not to carry guns in its stores as well facing backlash from the nra. we will get into it. at synchrony, we're changing what's possible
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go beyond the expected, to do the extraordinary. take your business beyond. maria: bill dudley back we mentioned earlier the former new york fed president answering backlash on the scathing op-ed last week that he wrote with new one this morning in bloomberg called what i meant when i said don't en able trump. he goes on to write as i saw it combination of trade war
the president's attacks on fed threatened to put the central bank in untenable position president trump shifting responsibility for the downside risks from his trade war on to fed i thought this was important issue worth exploring we are talking about that, on the fed, and its relation to the economy andy it is interesting you have bill dudley pushing back against the president's war on fed if you will, when you look at jay powell what jay powell has done end of last year was ready about to raise rates three times. and unwind balance sheets clearly something changed, in in jay powell's mind the fed's mind to come into an easing cycle six months after. >> president trump was right should not have raised interest rates in 201s certainly shouldn't have raised in december had impact strengthening the dollar i can't ignore impact of dollar on trade when we have very strong dollar, it reduces ours
exports when you reduce exports you reduce gdp growth reduce economic growth i think interrelated you kaabout the say criticism of the fed ignore has what is happening with trade war what happened with fed impacted trade war increased strength of the dollar. maria: that makes a lot of sense you are worried dollar will stay at heightened level impact economy and earnings going forward. >> i think creates a number of problems for the fed it is attracting -- lower our interest rates are among highest in the world they are attracting foreign investments, that raises the value of the dollar deflationary for u.s. consumers harder for the fed to continue to cut latest if inflation isn't pushing up on the envelope i think we are going to see pullback in inflation, this is going to be interesting times. maria: interesting talking about risks and yet jackie look at markets we are still near all-time high. >> we are i think the market suffered a lot of volatility in august people weren't necessarily ready for but at
the end of the day, you look at dow trading, just a little bit over 26,000 not far from its all-time high even if you are one of these people who checked 40 k every day not recommended in volatile times like these the balance throws in my opinion hasn't moved much most consumers americans are going to find as long as a short term pretty close resolution to china trade around the conner it may not be so bad. >> you got all democratic candidates talking recession recession recession they want to raise taxes. >> -- elizabeth warren this morning we are talking about how she said she was going to pay for green new deal with three trillion in taxes first of all, we only a have 3.8 trillion a year in taxes total if she wants to spend another throw trillion if you look at the last year before we had tax cuts versus this year tax revenues up about 7, 8% inflation only 2% so that is real growth if you eliminate that growth you eliminate economic growth, you cut you
increase taxes, tax revenue will go gown. maria: the tax cut plan worked. >> worked very well reversing it will not pay for anything. >> we are awaiting july national numbers duty owe in moments we will bring those numbers as soon as these they hit the markets. not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ every curve, every innovation, every feeling. a product of mastery. lease the 2019 es 350 for $379 a month for 36 months. experience amazing at your lexus dealer.
maria: welcome back. good wednesday morning everyone faifrpgs for joining us. i'm maria bartiromo. wednesday, september 4 top story right now w8 a.m. oaks breaking news the hong kong extradition bill has been fully withdrawn, hong kong leader carrie almost a made it official this morning, amid earlier reports of that news, and that drove stocks higher overnight in asia that is happening across the world this morning take a look at futures waiting on breaking news in economy july international trade figures coming out. . >> the number is negative 54.0 on trade. no movement in markets but looking at a big rally the start of trading your futures
up 235 points s&p futures up 26 nasdaq futures up 82 about 1% higher across the board. global markets are also higher, on this news out of hong kong, ft 100 in london up about 30 points cac quarante up 65 dax in joichl up 32, one percent higher on contact and dax overnight green across the board henning hng, of course, best performer main index up almost 4%, 3.9% higher on news extradition bill will be formally withdrawn. the numbers on july international trade are out and, as you can see, 54.0 versus estimate of 53.5 billion, andy puzder your thoughts on this international trade number. >> that is a great number because when exports exceed ports trade deficit comes down increases gop exports increase gdp good for economy very encouraging i think if the dollar were weaker would be even better number but with strong dollar, and have
exports exceeding imports that is positive. >> president made no secret don't you want a strong dollar every administration we want a strong dollar but don't do anything to have a strong dollar because nobody wants a strong dollar. >> it is definitely too electronic we are the strongest economy in the world. >> good go to europe a trip to paris i wior italy. >> last time i went euro was 1.32 to your now 1.09 get wife go next week if we could. >> now time to travel to europe, our top story this 1/2 an hour tracking hurricane dorian, south east bracing for heavy winds heavy rain this morning the after makt of a hurricane, in the southeast officials 2350e78a relying on unique indicator how damaged a community might be the waffle house index if waffle house is open damage little bit apparently 23 waffle house
serving limited menu closed could i mean community sustained significant damage, joining us right now, to give us the news as ceo of waffle house walt you are familiar with request the index tell us what it tells. >> you right now telling us, that we are open everywhere, we've got all people positioned up and down coast, georgia south carolina north carolina so far so good from our perspective there is a lot of things happening there's a lot of people in the market probably a hundred folks down here supporting our log management team talking to everybody take care of fox make sure everybody is safe we are prepped to feed all first responders in the community. >> how does environment feel right now i mean putting the hurricane aside, for a moment the consumer and spending how would you how would you characterize things? >> well, right now, you know,
we're doing really well with consumer because we are one of the only places open generally-speaking i think economy seems relatively healthy for us in our space in the seafood industry but right now we are only act about in town that makes for a very healthy consumer mostly there because people need some place to eat our people need o a place to work we are trying to take care of the communities fortunate to do business with everyday. >> how do you do that make sure your workers are safe, in the face of a storm like this how does waffle house locations across the country prepare for a storm like this? >> well, fortunate for us we have a lot of resources in sourth east a southeastern chain a lot of people we can bring from other states we've got folks from surrounding states, that are down here helping one of the things they are doing right now is kind of receiving a every restaurant situation, where our people
life do they have a safe place need to be in a hotel some place to evacuate bring in extra people behind them to help support the local operation so really what we're doing right now is making sure that our folks are safe, and that we're prepared with all the supplies, and food, and resources that we need some cases even generators fuel things to keep restaurants open if we were to lose power. >> andy puzder here former ceo of c.k. restaurants. >> you have been watching the food on line it makes me hungry. >> you can bring some food with you i understand you need to stay with the restaurants make sure things are going well in southeast i hope hardy guys are out they helping as well everything stays fine in your area of the country. . >> well thank you, it is a team is we appreciate other restaurants trying to stay open help community as well he i will try to stick my head in a couple hardy's.
>> during a storm tell us about the menu do the locations serve differently during a hurricane? >> you know it movers changes as we go. and we have to build up on certain items one of our great partners u.s. food, and they have just been tremendous through this process, because we've had to move truck and deliveries and change our normal quantities what we apply so friends u.s. foods have really, really been a great partner in this regard but in some cases when the menu gets limited it is because we have limited resources we have limited people, so far in this storm we haven'ted to deal with limited power no water situation but there were a couple places in florida last night where we went to very limited menu primarily because we are the only act if town in that case you just want to be able to feed everybody something as opposed to some people everything, it is a a little bit of a balancing act why we have so many senior leaders in the market, to help make those decisions, almost
on a moment by moment basis, across three to four states right now. >> -- outside of the storm i am wondering how you are finding employment picture are you able to hire are you finding enough employees? talk a little bit about that, and what the wage picture looks like. >> well, aside from what is going on right now which is you know kind of all we're thinking about certainly labor market is the challenge for all of us especially in restaurant industry. we've been pretty fortunate we stand in slightly different position than a lot of other folks in that we operate most of our restaurants we the people we can offer a little bit more from a career standpoint, for some folks, so we've been very fortunate to hang on to a lot of our folks during tight times i tell you there are certainly markets every single day really boils down to certain starters-single day that can flare up we like to stay playing a became whac-a-mole
every day you think everything under control you have to run over there help recruit people to get restaurant, it is by no maintains yeez right now fortunately holding our own. >> what are you expecting in that regional of south carolina myrtle beach. >> in in myrtle beach right now worked up from florida last couple days it is calm, as you can see, behind me don't have that much wind we are anticipating, some certainly tropical storm force winds fortunately we don't have restaurants in this part of the country that are literally on the ocean we are not too concerned about storm surge at this point just worried about making sure, that you know our folks ares safe that the facilities are taken care of safe as well. but i think about what we're going to find in this storm unless surprises us, maybe a
power event, certainly a little bit of a inconvenience for a lot of folks i hope we don't experience anything like poor folks in bahamas that is sad to see. >> sending you our best walt ehmer from waffle house breaking news out of hong kong leader carrie lam fully withdrawing extradition bill that is what sparked weeks of violent o protesters voourt voourt wi-- stuart varney will weigh in next, changes to board ipo after backlash to filing detail when the company will go public stay with us first take a look at the special update from tennis channel right now. >> welcome back to another tennis channel court report for fox business i'm jonathan novak grand slam champions took court day nine of the 2019 u.s. open.
>> first on nice session serena kwlooms defeated 27-year-old of china moved to semifinals will take number 5 seed serena two wins away from 7th u.s. open title and record-tying 24 career grand slams. it was a much different story for roger federer suffered shocking upset to unseeded -- prior to victory tuesday 2-year-old bulgarian winless against federer in previous seven meetings he is in u.s. open final four for the first time in his career don't forget tennis channel live kick off daily coverage from flushing meadows tune in 8:00 ap easte-- 8 a.m. eastern. kevin
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maria: let's see if hong kong unrest comes to an end now that extradition bill is formally withdrawn, the achieve executive carrie lam withdrew extradition bill today that sparked the protesters that, of course, have taken place in the city for 13 weeks now joining us host of "varney & company" stuart varney to weigh in good morning, stu. >> good morning, maria. i think you posed the question correctly will we now will they now return to calm after this extradition bill has been withdrawn? it is a gamble object the part of xi jinping, and his what concession basically i think maybe said beijing blinked here, will it work? i think the strategy is to
buyoff the peaceful demonstrators reassure them change is coming with withdrawing this bill, isolate violent protesters take them off gain public sympathy for moderates and a lack of chaos stability in hong kong and that way return to calm and calm everything down, a gamble we don't know who are not protesters will be back this coming weekend we simply don't know if they are violent i spp that will be used as an excuseing to further nasty crackdown that really clamps down on things so we are still in state of flux beijing blinked seems to me an interesting concession maybe gave china lvrj with president trump in trade negotiations, gives him a freer hand for us here. maria: we will see they also want to be able to vote for their local leadership so there is that. >> stuart thank you see you 10
minutes 15 minimums "varney & company" top of the hour 9:00 a.m. eastern join stuart after "mornings with maria" but first we were make changes to board and ipo after initial backlash to filing details and details on pretty good ipo session this year stock alert shows stall bucs falling premarket full year earnings below growth growth model more than 10% stock down 3 and a third percent on starbucks, back in a moment. ♪ ♪ ♪ ♪
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filing gerri fill willis with details good morning to you. >> good morning, maria. that is right so we work ceo returning 5.9 million dollars worth of stock this was stock he was given as payment for the trademark criticized in media heavily companies saying gorpt governance is broken preipo narrative set to come out possibly sometime fall at the revealed huge losses huge revenues this morning nice breaking that in response to criticism that we work borrowed is all male will put a woman on border francis friday a professor at hazard school of business so big headlines on we work expected to come public also another story we've been following yesterday you heard that walmart was going to limit the kind of ammunition they sold in stores. today saying they are asking
customers to stop openly carrying firearms in stores, big headline about krogers today just october 2018 about a year ago a year and a month there was shootinged in a krogers store two people died in that shooting the company is saying, while they previously followed state and local laws in their stores, they are now asking all customers to stop openly carrying firearms in stores, so big move for kroger big move for gun owners we will warm that wework ipo. >> thank you so much interesting to see the story, like you said during the commercial break why are weren't some of the things addressed tech in general has been largely -- they knew that. >> kind of a -- you got investment banks lawyers should be should have said hey take a look at board before we go public, kind of a surprise.
>> wework is in growth mode we will see how the ipo does, what are you watching nancy. >> thank you. techs big buyers of consumer, but starbucks has militarily 34 times we have been trimming it. >> what are the growth stories for starbucks -- >> it is looks like part of this is taxes, you know they loss at year -- we have been look at software some cloud applies see what happens after the market closes, and then interestingly the market has been be up if you are indicated best performing utilities we have been look at software and some of the semi companies like broadcom we are kokt to pick away at those
microsoft after vuj run not trading at multiple comparable to starbucks, the growth potential is much greater with cloud gaming you know hitting on all cylinders great management team. >> i am wavk today kind of looking at how investors are positioning them waiting for the fed, and bracing for some more anticipated volatility dealing with tariffs parted of me thought maybe president would back off delay over the weekend obviously, he didn't part of me thinks he may still do that for second tranche coming in committees -- coming in december more important one the folks i have about en speaking to say they think there will be some sort of paper resolution before the end of the year they are optimistic, and that is why i think you continue to see, the up days on market. >> september will be volatile. >> we know that.
>> what is the businessperson do at this point andy when you know this fight is deep ink between u.s. and china when you know going to be rough waters next couple months but broad sort of general theme of what the president is trying to do is understood. >> i think businesses should we investing i think i would be investing if still ceo of company, and investing not only in the united states but internationally, i think we are goinging to through a period of growth i think will eventually have good news on trade this is not in china's interest and not in interests of the united states, i think president trump will get reelected, may not have deal until then, but if you are looking at this long term i think long term things are good we will have a recession at some point this isn't fairyland where you never have a recession i think we will have one i don't see one before recession. >> recession two negative
nebraska. >> estimates are two, 2.3 seniors third quarter now you have to have fourth quarter negative first quarter negative when isn't going to happen, your pretty close to the election to see any kind of a recession coming. >> do you think president trump is well aware of the calendar. >> very well aware of the calendar. >> we will take a break being final thoughts from all-star panel. stay with us.
final thoughts from this all-star panel. nancy? >> i say make volatility your friend. be discreet and prudent but go ahead and dip your toe in in september as it continues and most likely it will be volatile. a year from now you'll be happy with what you purchased. maria: you want to buy stocks? >> listen, it's rarely not a good time to buy stocks unless -- until we have that recession. i don't see it yet. i think there's plenty of room. maria: andy, what are you looking at? >> i look at stocks selectively. i like boeing. i think boeing will come back. i don't think there's any question it will come back. if you look at this long-term. i like at & t. they've got some energy. looking at the new ceo, they are paying 6%, their dividend is about 6% return. i like at & t. i hope interest rates continue to come down, the dollar weakens and we see exports increase. maria: jackie? >> jobs on friday. fed on the 18th.
i think those are the two game-changing events in the short term. we will certainly see interest rates will have a big impact on the market. maria: ipos looking good. 2019 ipo markets reached five-year high in proceeds with 50 to 70 more ipos expected according to renaissance capital. have a great day. great panel. thank you for being here. see you soon. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. did beijing just blink? sure looks like at least a partial retreat in hong kong. the extradition bill has been withdrawn. that was the measure which sparked all the unrest. on this issue, the protesters won. china's leader may be hoping to restore calm, but the protesters still have other demands including the resignation of chief executive carrie lam and a free vote to select her replacement. this developed just hours ago. we are waiting for the protesters' response which we will have for you. investors are responding positively. what's happened in hong kong is apparently helping the stock market here. so too is