tv Mornings With Maria Bartiromo FOX Business September 12, 2019 6:00am-9:00am EDT
it means for federal reserve's meeting which happens next week september 18 in washington. s&p futures up 5 and nasdaq 26, dow and s&p less than 1% away from all-time highs. the white house is targeting vaping, the trump administration looks to ban flavored e-cigarettes concerns about health risks and use by minor grows, mornings with maria begins right now. ♪ ♪ maria: big show this morning,
joining the conversation fox business network dagen mcdowell, daily caller editor-in-chief chris bedford, former republican candidate steve forbes, great to see you this morning. a lot to talk about, also on deck this morning former senior adviser for president george w. bush, fox news contributor karl rove to preview democratic debate tonight. also peter navarro is here this morning to talk u.s.-china trade when we do have big news this morning on that and north carolina attorney general josh to talk about perdue farm opioid settlement, big show coming up. ii want to kick it off with u.s.-china trade olive branch, if you will, president trump delaying a 5% tariff increase on chinese goods, delay that by 2 weeks, the president tweeted this, at the request of the vice premier of china lou he, celebrating seventh anniversary on october 1st, we've agreed as
gesture of good will to remove increased tariffs, 25 to 30%, prooctober 1st to october 15th, the president also spoke about china at the white house, watch. >> the supply chain of china which was unbreakable powerful tool that they had is breaking up like a toy because companies are moving out and china wants to make a deal, we will see what happens. we have to make the right deal for this country. maria: all right, so he delays the tariff increase, what do you think? >> i think we are taking the missouri attitude show me, we've had spurts before, we might get a negotiation and then something goes wrong and investments still really hasn't adjust today -- adjusted to uncertainty, we don't get the good growth in the future, the sooner they can get something the better, they hope
this time charlie brown gets to kick the football as we go in trade negotiations cycles or at the end of the day we have nothing. maria: you know, dagen, on top of what china did last week, why exempting those 16 american products including the agricultural products which was seen as another act of goo will on the china side. >> right, this is an issue of timing because you don't want 5 percentage point increase to go into effect when you're trying to negotiate with the chinese because they're on u.s. soil, i will point out that on september 1st, u.s. did impose tariffs on $100 billion on products including consumer goods, again, the fight isn't over, this is just a tip of the hat, make calm heads prevail during negotiations but doesn't say anything about how those negotiations might go in october. maria: it came close to
celebrating the anniversary of the chinese, 70th year anniversary, chris, i don't know that the president should be celebrating that, we know what this party has meant, communist, dictatorship and tracking all their citizens. >> responsible for more deaths than any person human history ever, no comparison at all and the chinese, 70 years of being complete enemy of the west, enemy of the united states, enemy of christianity, it's not something really to celebrate but i do understand that we are in negotiations and i want to push back and forth and give and take and gestures of good will, that's fine, i hope that we don't light up the empire state building in red like we have in the past. dagen: the president is going say what he is going to say, he does it all of the time and we can set our trousers on fire and it doesn't matter, it's the results that matter.
maria: doesn't mean he's necessarily celebrating this party, obviously, he did mention that in a tweet and sort -- [laughter] >> was aimed at china, he's focusing on that. maria: speaking directly to them. markets are up this morning, take a look at future, markets are reacting to everything that comes out of the conversations, dow industrials up 60 points and nasdaq up 27 but this is also ahead of key meeting of ecb, we are waiting for decision under 3 hours, ecb to cut interest rates to stimulate the economy, you know, dagen, europe has had a hard time generating any growth, you're already talk about negative rates, what kind of wiggle rooms does ecb have? >> they are targeting the euro, it's going to reignite tensions with the president, they are trying to weak tennessee euro to bolster the economy and lift inflation and i guaranty you as soon as this happens the president will be tweeting about
it and there lies why president trump keeps advocating for zero rates from the federal reserve, lower rates, we need a strong dollar in the country and we don't get into a currency war but this is directly targeting the euro currency and create greater tensions. maria: as soon as we see stimulus coming out of ecb expect the tweet from the president, jay powell, where are you? >> the whole thing the idea of manipulating interest rate will reduce economy, barack obama tried it for 8 years, didn't work out very well, in terms of the dollar, the dollar is stable, dollar is strong, that's a good thing, great countries have great currencies like europe currency continue to be in the muck of lack of economy growth. maria: good point, a strong dollar will cut into earnings, weaken the economy, go in 2020
election -- >> well, let's just call a stable dollar, there's never been a country that has had sustainable growth with stable currency, period. ask argentina, zimbabwe. maria: candidates battling it out, front runners joe biden, elizabeth warren, sharing stage along with bernie sanders and kamala harris, what are you expecting tonight? >> i'm excited to see warren versus biden, surprised me because they grew up in massachusetts and warren is not the kind of person that gets everyone excited but has the democratic base electrified and drawing bigger crowds and she's splitting the votes with sanders, folks on the harder left of the democrats, moderate wills go for biden, in between the two folks, we may see fireworks between them but if
biden doesn't really differentiate himself and pull away then i think all trouble for campaign looking more like hillary clinton's are there and he has a very good chance of being defeated, he's still ahead nationally, very hard ahead with black voters, but he's in trouble, no enthusiasm. >> they need enthusiasm to get a vote, in terms of elizabeth warren how good is she going to be to attract minority votes? >> almost no minority support for sanders or warren. dagen: no nod rate standing on the stage, you hear attacks on the second amendment, you are going to hear unified message about climate change, there's not going to be any one standing up there you know what that will reduce the standard of living for americans, it's going to hurt lower income americans than anybody, you will destroy millions of jobs with the
climate change plans and you're going take insurance away from 180 million people. >> that's a good question, how moderate really is joe biden? >> that's a rumor. maria: he's not a moderate. >> led barack obama administration in some of the left policies, he's called moderate because he's a likable guy. dagen: he's a moderate compared to elizabeth warren and bernie sanders. [laughter] dagen: she wants to confiscate wealth. maria: is there any chance elizabeth warren becomes the candidate for the democratic party come next year with this election? dagen: i predict that she will be the candidate. she's been doing some things behind the scene, she's kept an open line of communications with hillary clinton, she's been reaching out to the people within the democratic party
trying to position herself despite her very left-leaning policies, trying to position herself as party leader, i'm going to make sure that the democrats keep the house, i can run this party for you, i want to win back the senate, she's really trying to appease the entire leadership, having down tea in washington apparently. maria: or maybe a beer. >> that'll be next. we will stop with that, kamala harris, it's really hers to lose. maria: she's really fallen in the polls. >> plenty of time to regroup and i just don't see elizabeth warren exciting, doesn't excite people, i just don't see it. maria: we will see, short break, when we come back a look at the bahamas, dozens of people still missing, crews working to clean up but the weather forecast may
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peak of hurricane system, heavy rains expected throughout the weekend there. back here at home mark hurd, citing health reasons for the reason, executive chairman and coceo are going to be taking over hurd's duties, shares of oracle fell after they missed estimates. this morning stock slightly lower. they boosted program by $15 billion, sad news to report, oil tycoon pikins has died, 91-year-old self-made mogul, long-time ceo, petroleum company, that's the company he found, largest oil and gas companies in the country, the company, he was hospitalized in july of 2017 after what was
called texas-size fall, a spokesperson said that pikins died surrounded by friends and family. maria: thank you, he was really a leading business guy, had chance to interview him a number of times, so did you, steve. >> yes, good friend. helped me out on my politics, i thought he was a genius in particular, he was also great entrepreneur, never hesitated to go against the giants, he might have been in the oval office today. maria: there he is joining us a number of times, we turned to boone pickens and we send condolences to his family. dagen: i was going to say that he was a real leader and gotten us where we are today in terms of reducing carbon omissions out of power plants by being huge
advocate of natural gas and if he could have lived another 30 years, an era of where we do fight climate change through private business, always looking out for the stakeholders and shareholders and awesome dude. maria: he was, t. boone pickens dead at 91, we will be right back. devices are like doorways
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maria: welcome back, futures indicating higher opening for the broader averages, s&p up 4, nasdaq up 25, we are awaiting the european central bank meeting with decision on potential rate cut, many expecting stimulus measures in europe, perhaps broader stimulus package than rate cut, decision expected this morning at 7:45 a.m. eastern, we are all over it this, joining right now
to preview it market strategist michael lee, michael, good to see you? >> good morning. maria: industrial banks across, what do you expect from the ecb? >> we will see if they launch tier-do depositing schedule there. i think worldwide, no central bank has ever been able to create inflation, what europe needs and what we got here in the u.s. fiscal stimulus is deregulation and tax cuts, without that you will not see change the way we've had over here, just as a refinder for -- reminder the banks in europe never recapitalized after the crisis, when you keep the rates low can be hard to operate and the more of the rate cuts, just
seems like, you know, you are the boy trying to stick fingers in the holes and after a while you will run out of fingers and turn to europe and japan. maria: we have negative rates in europe, i don't know where they are going to go with this, that's one reason that he told me ecb will stop buying equities, dagen. dagen: would that do anything at this point? how do you -- how do you stop this other than structural reforms in europe? i just worry and wonder about the banking system because when you have negative rates like that it literally turns it upside down and i don't know long run what the impact would be on the entire continent because of that. >> well, the problem with europe too it's really what you might call antiquated capital markets unlike ours which are diverse real sources of capital, in europe it's primarily the big banks, if you have a crippled banking sector, that means you will not get false capital in the economy in this country, you
other sources, europe is dependent on the big banks. maria: the president tweeted this yesterday, he's calling on the fed to bring interest rates to zero or less. could ecb force to fed to cut rates more than a quarter point? you know, the ecb is going to be one, you know, picture, the referral will focus on or dictate or at least push the fed to do more if we see something real aggressive, no, because central banks across the world are so low in terms of rates, what do you think, sit going to have influence on the federal reserve? >> not for this meeting, they will do the 25, they want to show they are still in charge and so you won't get something probably till december. >> okay, what i will say that monetary stimulus, monetary policy has limits, right, and you put those to the limits throughout the recovery from the great financial crisis, you know, on the high and low end,
on the high end i will have you remember he jacked rates up near the 80's, once he got past 9 or 10% it did nothing and changed regulations, structural reform that got inflation under control, wasn't raising rates and so the way that that did damage to the economy in early 80's i think having rate this is ultra low is going to damage the european economy right now. dagen: go ahead, what were you saying, steve? >> the message is at the credit markets in the sense that businesses have a hard time getting access to capital, banks will be losing money with zero or -- >> the incentive to lend and so once you keep rates ultra low you actually pull growth down and inflation down wit because of that incentive to lend, you destroy the velocity of money, we have seen a little bit here, it's a shame that the --
>> destroys it, i mean, so provers and yet they continue to believe inflation can cause economic growth. maria: we are talking about another gain this morning and it's been quite the street, do you think markets move on the ecb, will we see another gain at the start of trading after the news that we get on ecb today? >> it depends on doveishness of statement, if we launch and i think they are more short-term than long-term, they may give us short-term balance but over the long run, more bad than good, i'm happy to see market go higher for whatever reason, how do you work your way out of this? japan has had low greats and low growth for years. maria: having said this, the market is on track for seventh straight day of gains today, do you want to buy stocks here or do you want to send them to
sidelines? >> i do and i will tell you why, there's a lot of talk within the last couple of weeks of yield curve recession, the key of recession is lack of liquidity, what we have seen has been record-breaking, this third quarter was supposed to be armageddon because it's all sorts of refinancing, if liquidity wasn't there, this could be the end of the cycle, not only is liquidity there, it's there and last week it was record-breaking. high yield jumped on issuance, last week, you know, 2019 year to date, past all of 2019 in first week of september, so what marks a recession is lack of liquidity. >> so i do, so you have this resilient consumer, store sales and inventories continuing to drop, at that point has to come to a head, the consumer has to follow the cliff or inventories
have to rebuild, we could see massive gdp print in the fourth quarter to everyone's surprise and run into -- run into 2020. >> just really quick, i want to point out longer-term interest rates as the market has rallied, longer-term interest rates in 10 year and 30 year have gone up in the last week, so it puts the federal reserve in a position where they won't have to look at 2.3% on 30-year. maria: yeah. >> it will put it back more in line with the -- the entire yield curve, it would still keep -- lending rate a little bit of where the 10-year is now, this is a positive sign for stocks and for quite frankly the entire u.s. economy. it says that the economy is healthy and not going to hell and hand basket. maria: fed meets tuesday and wednesday, michael lee, good to see you. rolling in a new service, what sets it apart, next, hillary
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higher on nasdaq as well on top of gain as cross the board yesterday, the dow closing higher for sixth session in a row yesterday was up 227 points at the close, almost 1%, s&p was up 21 and nasdaq was up better than 1% at 4:00 o'clock on wall street yesterday. in europe markets near flat line ahead of ecb decision, all eyes on ecb waiting to hear in about an hour we will get news. japan and china up 3 quarters and 1%, victory for president trump on his immigration policies, the supreme court is backing the administration's plan to deny asylu to central americans, certain steal -- certain central americans should they want to, how much it will set you back and hillary clinton's emails now work of art apparently, clinton went to visit them herself, she stepped
into the whole installation looking at her emails, first half an hour, dangers of vaping, president trump announcing that the u.s. would move to ban the sale of most flavored e-cigarettes to try to curve teenage vaping this coming after rash of lung illnesses across the country and deaths that deaths are linking with e-cig use. the president weighing in yesterday, watch. >> giant business in short period of time, but we can't allow people to get sick and we can't have our youth be so affected, people are dying with vaping, so we are looking at it very closely, a lot of people think vape asking wonderful, it's great, it's really not wonderful, that's one thing we can say definitely, it's not a wonderful thing, has big problems. maria: joining right now emergency and family family
doctor, dr. janet good to see you this morning. how serious in terms of vaping? >> very serious, people are dying, we have previously very healthy young patients, teenager who is are great one day and the next day they are showing up in the emergency room with severe shortness of breath, they can't breathe, the lungs have collapsed an we have seen 6 people have died and hundreds have been hospitalized, it's a very serious issue that we have to tackle because these young kids, you know, a lot of them they don't know any better and purchasing illegal cartridges and smoking and vaping marijuana, artificial flavors, chemicals, getting them off the streets they don't really know exactly what they are inhaling what and we do know, part of that is artificial flavors that have chemicals in it that can cause damage in the lungs. maria: hold on, chris is here and you're a skeptic on some of this, right? >> yeah, to your point, these are pirated thc products that
the kids are smoking, it's like drinking moon shine or smoking fake cigarettes, why would you hold an entire industry to account for people selling drugs? >> this isn't holding the entire industry, we don't know the cause of what's causing kids to be hospitalized on ventilators on the icu, we think it could be illegal marijuana, maybe traced with vitamin e, artificial flavors and chemicals, it's not natural to inhale strawberry and mango and watermelon, cotton candy, flavors that they use to get kids hooked on nicotine at young age, causes developmental brain add -- abnormalities in the kids and will become addicts at young age.
maria: the president plan to go pull most vaping products from the market citing the concerns. dagen: yeah, this is government overreach, period, because again we think it might be does not justify the government coming in and basically wiping products off store shelfs as much of a problem it might be, to chris' point many links are to thc, psycho active ingredient to marijuana, these are not the products, e-cigarettes that you would buy at a convenient store, many of them contain significant amount of vitamin e, oil used as thickening agent for the vaping liquid, this is according to both the new york state health department and food and drug administration, my point is that the timing of it it's not even curious, the first lady clearly has a big say, she was at the announcement and on monday she tweeted about the dangers of e-cigarettes, it's pretty clear
it's not just the president of the united states making decisions about this, yes, we need to look into the illnesses, yes, we need to crack down on the sale of mick teen -- nicotine devices to children, a lot can be done through federal trade commission and cracking down through advertisement and availability through products and not universal ban for illnesses that we didn't necessarily track to e-cigarettes. >> it's not a universal ban, he's keeping some of the flavors like tobacco flavor that is would be appealing to adult bus trying to minimize children being lured in and enticed by cotton candy. dagen: where is the parent in all of this? why is it the government's problem and not the parents' problem. [inaudible conversations] >> they are citing addiction.
>> i can't think of anything, nothing natural about inhaling the strawberry-flavored things. we have fake meat being tushed, what happened to red meat and cigarettes, the old-american products. dagen: cigarettes cause it cancer, my mother is dying from cancer so let's tone it down a little bit. >> affects brain development and causes add-like behavior and mood swings, behavioral problems, changes with the sleep, with their studies and down the road half of them will become regular cigarette smokers. >> you have the same problem with -- maria: go ahead, steve. >> a lot of problem with cannabis as well but yet push to legalize it and make it more available and in terms of vaping for reason industry has been against vaping even know a lot of adults have been able to give
up cigarettes, vape asking not good but heck a lot better than cigarette smoking. dagen: do i want to add because i've said this on the program before that this is dangerous because the companies have targeted -- it's very clear that they've targeted teenagers to get them addicted potentially. maria: growth story. dagen: correct, there has to be regulation but this is a blanket ban on a lot of different e-cigarettes and does look like government overreach. maria: i get you. great to see you, thank you so much. we will keep talking about this, we will have insights back soon, thank you, the supreme court delivering a major win meanwhile for the trump administration, we have cheryl casone on details right now in headlines, cheryl. cheryl: maria, the supreme court green lighting restrictions on asylum seekers trying to enter the u.s. by traveling to third country, first seek safe haven, now california district court judge had issued injunction blocking that rule later it was killed by the ninth circuit, the
supreme court ruling for rules to take effect. well, wal-mart has added unlimited grocery delivery. pay 98-dollar annual fee or 12.95 for the service, you can pay per delivery if you don't want to subscribe. planning to roll out and expands by the end of the year, this is going after amazon on this one. then there's this, maria, unique art exhibit in italy named hillary, the hillary clinton emails, features thousands of pages of correspondents, her emails, look at, this she did, hillary clinton herself, there she is. former candidate for president even sat in a replica of the oval office, filed through some of the pages, pictures of her visit saying she spent about an hour at the exhibit. sense of humor about the whole
thing now at least. there you have that. maria: didn't she use a hammer and bleach bit to get rid of emails, to sit there and mick a joke about it, i don't know, what do you think? >> she ran emails on a server that was not certify and company that wasn't allowed to have those emails, the orders were given to destroy those emails, to use bleach, to use whatever, those weren't specific in any order, but to get rid of these and pretend wipe it clean with a cloth, but, i guess, if you can get over a little bit of the bitterness a few years after the election and try to move on, then might be god for the health >> i wonder if she got copies from the nsa? [laughter] dagen: if a democrat winds up in the white house do you think she ends up in the administration? >> yes, if elizabeth warren wins. dagen: open communications with hillary clinton.
maria: great point, hillary clinton. dagen: i have no idea, i'm raising the issue. maria: breaking news, guys, new developments on the china trade story, wall street journal this morning has new report on what china is looking for in the negotiations, get this, the journal is reporting that china is looking to narrow the scope of the talks to focus only on trade, put national security issues on separate track. can we do that? can you put national security issues on a separate track and just focus on china buying more stuff from the united states, steve? >> well, we had such an agreement about a year and a half ago, secretary mnuchin went to china and came back and the president said no, not good enough and the chinese were shocked, mnuchin, treasury secretary was shocked, i'm not sure how far this is going to go. maria: where does the intellectual theft property stand, dagen, is that a national security issue or is that trade, are they ever going to admit that they have been stealing from the united states for decades? >> they -- we need to get a deal that's comprehensive in one way, shape or form, you have hammered
this for literally years now and if you don't get those protections for intellectual property and basically stopping some of the espionage, then what was this fight for? you -- go ahead. >> play into china's hands. maria: that's what china wants. >> like the united states used to and to separate the two and say, well, not pay attention to what we are doing to hurt you, let's talk about money, that's what they want. maria: load of money, that's why they are acquiring all companies in silicon valley and trying to get ahead of us on ai and forcing transfer of technology, so i don't see how the president can accept that but he wants a deal, the chinese want a deal. dagen: guess who maria bartiromo will be interviewing. maria: we will talk to pete navarro coming up in about an hour. first crisis, mypillow ceo will
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experience amazing at your lexus dealer. maria: welcome back, headlines across america this morning, la times reports california would allow college athletes to profit from endorsements under bill sent to governor, controversial legislation gets lots of national attention this morning with supporters praising it for giving athletes cash wind fall, they help bring to universities and ncaa but the ncaa is calling the legislation unconstitutional
and harmful, miami harold, to curve pollution miami beach bans plastic straws and stirs city wide, the goal to slash plastic pollution in city storm draining and famous beaches, give businesses time to adjust, full enforcement begins next july, connecticut post says connecticut couple finds 100,000-dollar powerball ticket under the car, connecticut saying there was a winning ticket sold, one they tuck away, turns out it was the golden ticket, they said timing could not be better and need new car and boat could use a motor as well, good for them. we all stuck somewhere in car or homes? [laughter] >> yes. [laughter] dagen: maria bartiromo, you would never ever misplace money even in the form of lottery
ticket. maria: short break, we want to look at opioid crisis next, perdue pharma agreed deal, ceo of mike pillow will weigh in on that, wait till you hear opinion, tesla new model s test, going faster than before, we will tell you about it. kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you.
called for perdue to call for bankruptcy, my next guest, what are the odds, from crack addict to ceo, detailing journey from drug addiction to owning his own company, familiar face on the network, the inventor and ceo of my pillow, mike lindell, thank you so much for being here. >> thanks for having me on. we are fan of your commercial, we watch it all of the time, the book that you've written is really an honest and severe look at what you've gone through, can you tell us your story? >> yeah, i was, you know, i was cocaine addict, functioning cocaine addict for about 20 years and then that turned to crack cocaine and i was -- all the stuff, i learned a lot about addiction, where it came from, you know, addiction comes from wounds, childhood, fatherlessness, mine was divorce, different things that happened during childhood and
trauma and manifest, pain manifests in addiction, on january 16th, 2009 god freed me of desires and i went to faith-base treatment center to find out why i was addicted in the first place and planted so many seeds of hope for me and -- and i -- i just for myself now where i'm at is i want to just do everything i can, i actually had drug dealers do intervention on me in 2008 and i had been up for 14 days and they said, we are cutting you off in downtown minneapolis, you're not getting anymore crack and two of them left and one of them fell asleep but i went down the streets of minneapolis and couldn't find crack anywhere and i came back upstairs and the dealer says, how did that work out, give me your phone, i want to take a picture of you, you've been telling us for years that this my pillow is a platform for god and you're going to come back
and help us all some day and we are not going to let you die on us and i will always tell the guys that i would come back some day and help them, two of the guys work for me and their free of drugs and giving people second chances, addicts are hard workers if they get their hearts restored and it's amazing. maria: wow. >> steve forbes here, there's been talk you might run for governor of minnesota, the state badly needs somebody that knows what they are doing in that chair. [laughter] were well, if god would have me do it, i would do it, i give the same answer. right now i'm all in for president and everything he's been doing and -- and that's where i'm putting all my energies into getting, you know, sort of switched to -- when i came out of crack addiction i didn't know anything about politics and boy, i learn how much they affect our everyday
lives and i've become very much involved in it. >> chris bedford, a lot of policy folks say in private or sometimes in public that a lot of the country can't be saved, the americans won't do jobs, drug addiction, people won't work, there's -- there's laziness, how would you deal with it, how would you respond from criticism from folks on cocktail circles in dc? >> well, that's fake news. [laughter] >> right now -- right now we are in the best consumer confidence in history that i've seen and -- and, you know, entrepreneurs and -- and people are taking chances and starting businesses and taking chances on products because they have safety net because everybody is employed, it's absolutely amazing and i have a thing i'm doing that's called the lindell recovery network, i'm going the take -- i'm hope for a lot of addicts out there but to have common hope, their age and addiction,
it's going to be online thing, all the people that have been set free and i'm going get them help with the addiction, with the faith-base recovery centers. maria: we send you our best, mike lindell, we will be right back. thank you. 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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this after president trump announced he is delaying a planned tariff increase by two weeks as a show of goodwill to the chinese, ahead of next month's face-to-face talks in dc early october. markets are higher on all of this. a gain of 50 points on the dow industrials, the s&p is up 3 and-a-half and nasdaq right now up 25. that's a third of a percent. this on top of gains across the board on wall street yesterday, the dow closing higher for a sixth day in a row yesterday with a gain of 227 points, almost 1%, s&p and nasdaq higher by three quarters of a percent and better than 1%. looking at glows bal -- global , european indices hovering above the flat line ahead of the cb decision. the dax is higher by 15 points. the others are in negative territory. mixed performances in asian markets, japan and a china were off three quarters of 1%. the state of retail this morning, bankruptcies and store
closings are rising in the first half of the year. a look at why and the road ahead for retail. then tesla teasing an updated model s, find out what's new for the electric vehicle. all those stories coming up this morning. joining the conversation this morning, the director of office and trade and manufacturing policy, peter navarro is here live on u.s.-china trade negotiations. we'll talk about the new elements to the trade deal this morning with peter navarro. also with us north carolina attorney general josh stein on the perdue pharma deal. we've got a big two hours coming up. our top stor story this hour, te democratic debate, as the top 102020 democratic contenders will share the debate stage tonight. our next guest is former senior advisor to president george w bush, karl rove. great to see you. >> thanks for letting me in the sacred precinct. maria: you have now arrived, you're on the "mornings with maria" set.
you just published a new op ed in the joint venture nail, the tie tell of your op ed, the only democrat was a chance, you say it's down to former vice president joe biden, and senators elizabeth warren and bernie sanders. writing this, many candidates will crowd thursday's democratic debate stage but only three, two of whom are radically left wing can realistically cour cross the finish line. >> these candidates have been out there for a while. most got in the race early in the year. they've had eight months to get their act together and over the last summer, in the summer, only three candidates in the -- have busted 10 there's the real clear politics average, biden, sanders, warren and through early august, kamala harris. but since the first of august, since early august, there are only three who have more than 10%. two-thirds of the support among democrats goes to those three candidates, one-third goes to 17 other candidates, plus undecided. and i don't see anything that's going to change, there's not going to be some dray dramatic
breakthrough that is going to vault somebody -- people have looked -- democrats have looked at all these people and had they find them maybe entertaining, maybe worthy, but they don't find them worthy of their support. maria: i feel that's the democratic leadership feels there's three viable candidates. what do you think? dagen: as the other candidates fall away, who of those three get the support that, say, a booker or buttigieg, you name it, have garnered. maria: are they vp candidates? >> they could be king makers. but we don't know. i mean, because i think that's -- what's going to happen is, we're going to get to a moment where somebody collapses and who has the mojo at that moment? and this tension that is inside the democratic party between do we want to win or do we want somebody who shares my yellow dog democratic views. and the problem is, the longer it goes on, the greater the likelihood that we could have people saying well, you know what, the people who thinks most
like me is the person who has the best shot of winning, this is the stacy abrams view, that the way for democrats to win is to be as far left as they possibly can so they can bring out the untold multitudes of people who share their left wing views but are not motivated by traditional democrats. >> are you seeing the media going far left, doing to biden what they did to howard dean 15 years ago? maria: it feels that way. >> i think that's happening right now. we had two stories, new york times, washington post, both saying basically we've got to look deeply, the guy may have fundamental problems that he can't overcome. >> a lot of folks in the media are dismissing outright bernie sanders. you put him in the top three. in iowa and a new hampshire he's drawing crowds. it's reflected in the polls. do you think they're wrong and bernie sanders could win the democratic nomination? >> i subtlely put in my column,
we've got -- we're having a fascination right now with elizabeth warren and everybody's -- she's got the mojo. she and bernie are essentially decide. she's a scootch ahead of him. the only reason she's ahead of him is she led him since the first of august in eight polls, he's led her in 17. her lead in the eight is slightly better than his lead in the 17. i find something to be -- we need to pay attention to the fact that he's actually among the polls, he leads her more often than she leads. >> and he'll never quit. >> he'll never quit. >> among democratic primary voters, i've heard that 55, 60% are women. and a lot of them are not going to he vote for a man. so why wouldn't kamala harris have a chance to come back again, especially against -- >> you get one chance to introduce yourself and she i think failed in her -- she had a good announcement speech but the debate where she was going to strike the moment, you know, turned out to be two cubed by
half and she had no follow-through. she's been evasive. you're not going to get the heart of the democrat when you say yes, i'm in favor for medicare for all, oh, i didn't understand the question. maria: then, they're in disarray over what they want to do. look what's happening with jerry nadler, sending mixed messages on impeachment, the house judiciary committee chair wants to go forward. they're going to today on a criteria for the impeachment probe as dems remain divided on the process. there's a lot of conversation, i wonder what you think about thatthat, that jerry nadler's gg forward with this because he's got a challenger in new york, she's giving him some real challenges in terms of taking him out and he feels like maybe he has to push forward on this because he's got this primary challenger. what do you think? >> i think that may be an impulse but i think it's a small impulse. he wants to impeach trump. he said that from the beginning.
in addition, he's a chairman and he's on his committee, 24 democrats, 17 of whom are openly in favor of impeachment, if you're a chairman, kind of like the mayor curly, where's the parade, i've got to lead my people. he is on the road to impeachment and without the formal process we formally have. normally the house of representatives votes a resolution and then the judiciary committee moves forward. now the judiciary committee says we ain't waiting for the overall house. so he's sitting there looking at a vast majority of his democrat members, committee members in favor of impeachment, a majority of democrats favoring impeachment proceedings and the difficulty for nancy pelosi is all the centrist democrats who gave them control of the house by taking republican seats who do not want to be seen on record as impeachment, they'll be drowned out by what jerry nadler does and nadler is not only putting the democrats in a bad position with regard to impeachment, he's drowning out any possibility of people understanding what else are they doing. maria: i feel this is a lot of
-- look, this is noise so people think there is something really here and yet he's never going to get this a vote in the house. never going to happen. still, he's making all of this noise so the public thinks there's actual things to impeach. >> i'm not certain they do there are actual things to impeach. polls are showing the number of people who oppose impeachment of president trump is growing. for a lot of them the issue was settled by robert mueller recall mueller didn't find anything of impeachment. let's stop it. let's get to the people's business. >> dagen: mueller's performance was horrible for the democrats. but let's connect this, the imachment proceedings and the far left policies of the democratic presidential candidates, warren and sanders. basically that would destroy our way of life and our standard of living in this country. you look at a dan mccready who lost in north carolina, where people are looking at what the democrat% doing on the national
stage and that tainted him. will it taint candidates for the house, senate next year and even the presidential candidate for the dems? >> it could taint -- it could have a de deleterious effect, y. it could he create a problem inside the democrats. think of the centr democrats, if they don't come out with impeachment they inflame the passion of people on the left. that's 1 or 2% who say i won't vote for the democrat, i'll throw away my vote or vote for a third party candidate. does it give the republicans a great chance of controlling the house? i'm not certain yet. i doubt it. it does give them a chance to pick up seats incrementally. the more seats the republicans pick up, the more difficult it becomes if democrats retain control of the house for nancy pelosi to govern because the am oc and the squad will be a bigger percentage of the remaining democrats. >> quick question. can elizabeth warren appeal to minority voters, south carolina and elsewhere? is that going to -- >> she hasn't thus far.
look, don't -- she's the least popular state-wide elected official in massachusetts. why? and we're not paying attention to the fact that professor warren is not a very nice person and -- dagen: she was a republican until '96. >> well, she was a chickisau or cherokee before that. maria: who do you think will be the democrat nominee? >> i have no idea. i'm waiting for steve forbes to opine and i'll tell you. maria: come on. biden? >> i have no idea you have to have 15% of the vote in any state to get delegates. we'll have a vote divided up between the big three and occasionally, like amy clock chaklobucharmight get candidaten minnesota. >> a broke heer convention? >> a convention that goes to a second ballot. on the second ballot, 775 super
delegates who are not allowed to vote on the first ballot get to come on the field and they can come roaring on and whoeve--if e three candidates with similar numbers and on come the super delegates, there are going to be a lot of angry people. dagen: do you know who will parachute in if it's a broker convention? barack obama, president , and his wife who is selling out arenas. >> you know what, that may be -- they may sell out arenas, but on the floor of the democratic convention -- i was there last time around. the bernie sanders people who are em blah ma particula -- thed up to give a speech. of before he said one r word, they started booing him. barack obama is a sellout in their view, the man who failed to take advantage of the moment. maria: all right, great
insights as always. thank you. coming up, eyeing retail, forever 21 reportedly planning for bankruptcy as a new study sheds light on the cost of tariffs. we take a look. taking tesla to another level, elon musk hinting a future model s would break current speed limits. what he said coming up. stay with us. ♪ we can go crashing down. ♪ we come back every time. ♪ we never go out of style. ♪ we never go out of -- when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. of the value you'll find at fidelity. to call yourself an explorer? traveling to the darkest depths of the ocean.
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stand charged as well as how the crew was trained on the boat. five crew members did survive the disaster. the ceos of 145 u.s. companies calling on the federal government to do something about gun violence in america. the new york times reports leaders of companies that include airbnb, the gap, pinterest, lyft, the brookfield property group and royal caribbean have sent a letter to the senate urging expanded background checks and stronger red flag laws. walmart you may remember announced last week it was removing certain ammunition and guns from its stores and they changed the open cry policy as well. kroger, cvs, walgreens and wegmans also changed their policy following the lead of walmart. tesla's ceo elon musk channeling his inner baseball fan. >> my brains are going into my
feet. cheryl cheryl: musk said the company's prototype model s with its new powertrain, calle called plaid o faster than the speeds the company's cars can currently hit. musk said it made the speed in 96 seconds. maria: quick break and then the tariffs and the consumer, how much are americans feeling the tariffs, we're going to take a look when we come back. we're waiting on the european central bank this morning, the announcement on interest rates coming in 30 minutes. stay with us for that, march he get impact news. ♪ that -- market impact news. ♪ that don't impress me much. ♪ so you got the looks but have you got the touch.
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maria: welcome back. the state of retail, according to a report from bdo, highlighted in the wall street journal, store closings in the first six months of the year are already ahead of the total number of brick and mortar closings during all of last year and then there's the new report from the journal that says the latest bankruptcy filing from teen he clothing brand forever 21 is coming but the chain is denying it. joining us right now to discuss the state of retail is the president of badgely mihka, christine current. how would you characterize the backdrop for business and retail? >> well, i think it's always
changing. it's an ever-changing business. right now we're in this period of flux, not knowing where it's going with obviously everybody talking about the tariffs. you were talking about forever 21 bankruptcy with stores closings. it's a challenging time. maria: there's uncertainty out there. is that impacting consumers buying goods from your company? >> i don't think so. we have always been known for luxury, timeless fashion and so i think they keep coming to us for their special moments or special occasions, that we're going to deliver, we're going to make them look fabulous. maria: have you seen an increase in your own costs as a result? where do you manufacture your clothing? >> so, we're fortunate enough to be quite diverse with our manufacturing, whether it be china, india, europe, canada, the united states, so we've been lucky with that. but we still do have a big business in china and factories we've been working with for
dozens of years. and so trying to switch supply chain is -- it requires such specialized lay. maria: will you change and take your supply chain out of china and go somewhere else? >> i think it's difficult to answer that right now, just because o none of us know how lg this will last, what the future of this is. so to abort those relationships and specialized labor that he we've had for so long, it's not a commodity business, it's not something where you can pick up and go to vietnam or cambodia or bangladesh. it's something that really takes time and skill. maria: you were looking at your spring and summer 2020 collection, it debuted yesterday at new york fashion week. tell us about the new he designs and how it's resonating. >> thank you. we've been getting amazing reviews so far. so that's spectacular. the clothing is chic.
mark and james had this inspiration of caribbean glamour, white sandy beaches, turquoise water, taking take hollywood glamour to the caribbean. maria: what trends do you see in fashion that you can share with us? >> our runway show was very print head to toe with shoes matching. maria: a lot of prints. >> a lot of prints. again, it's always embellished and beaded and over-the-top and statement pieces. maria: now you don't have stores. >> we have one flagship stores in california. we have around 30 stores in china. maria: that's interesting that you have stores in china. have you seen any difference in terms of business in china? because the economy there has slowed down. >> yes, yes. it's definitely slowing down there. we're noticin noticing that, feg that. but i think long-term i think it's a good opportunity. maria: you're looking at the tariff situation as an uncertainty, but so far it hasn't hit the bottom line.
is that what you're saying? >> correct. maria: you have all your stores in china, that's interesting. what's your reaction to what's going on between the u.s. and china? >> i mean, it's awful and i think everybody's just trying to navigate it and the uncertainty is the piece. it's not something where you can move your business in a matter of months. i mean, it takes years and years to try to switch gears. so -- maria: are there badgely mishkas that aren't yours in china, you know how they steal certain or try to mimic certain designers, do you see that in china as well? >> we not. >> we have not. we have not. maria: it's great to have you on the show. >> thank you so much. maria: coming up, where it started, washington and beijing at odds over trade. there's a long history, beginning decades ago. we take a look at where it started and where it's going. the president is weighing in on the central bank as investors wait for a key decision from the
ecb. that's next. stay with us. ♪ will you ever win. ♪ will you ever win. ♪ at synchrony, we're changing what's possible every single day. but what does "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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kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, september 12t september 12th. your top stories right now, 7:30 on the east coast. countdown to the european central bank decision, due out in 15 minutes. stay with us, as we'll get the news and see if markets are getting impacted. investors expecting a maj stimulus plan out of the ecb including a cut in interest rates. will it be enough for investors? we'll look at that and plus what it means for the federal reserve's meeting on september and 18th. the wall street journal is reporting that china is looking to narrow negotiations to look at only trade matters, putting national security issues on a separate track. this after president trump
delayed a planned tariff increase by two weeks as a show of goodwill to the chinese ahead of next month's face-to-face talks in early october in dc. markets are higher on all of that news. futures indicate a gain, about 50 points higher on the dow industrials. this on top of gains across the board yesterday, the dow closing higher for a sixth session in a row yesterday, the dow and s&p less than 1% away from all-time highs this morning. global markets this morning are mixed, european markets hovering around the flat line ahead of the ecb decision that may change in about 15 minutes' time. the dax index is up 11 points, the others are fractional hey negative. in asia overnight, mixed moves there as well. korea is closed due to a national holiday. the others mixed as you can see. our top story this half hour, u.s.-china trade, it is very much in focus right now but the countries have had a complicated relationship for decades. how did we get this recent impasse? jackie deangeles is looking at the history and how it has shaped the current state of
affairs. good morning. >> good morning. i want to start with a tweet you referenced in materials of trade negotiations with the president delaying the increase in tariffs. he said at the request of the vice he premier of china, and due to the fact that the people's republic of china will celebrate their 70t 70th anniversary on october 1st we agreed as a gesture of goodwill to move the increased tariffs on $250 billion worth of goods, 25% to 30%, from october 1st to october 15th. this trade war keeps going back and forth and that use of the term goodwill so important when you're negotiating with china. so we wanted to take a step back. people forget that this is relatively recent. we didn't start having conversations with the people's republic of china until 1972 when president nixon made his historic trip there. it ended 25 years of ceased communications, started the process of d diplomatic
normalizations. there was preparation for nixon's trip, making more than 100 trips to china. i sat down and had a conversation about what it was like to talk to the chinese, to negotiate with them. >> we were starting from square one. i never could have imagined then that the relationship would blossom to such an intense trade and financial and investment relationship of the kind we've seen, that took a building process first of knowledge and then of getting to know who the major players were and then building some level of confidence in one another. >> what was so interesting was that he went on to tell me how china was so focused on selling labor intensive goods, how that would be very beneficial to the u.s. and to them but what they didn't see at that time was technology and how big of a piece of the picture it would be and how competitive china would become. later we're going to talk about the '80s and '90s and how
trade relations developed and how goods start todd be manufactured and sold there. maria: little by little the chinese saw the relationship and the technology it was learning about as an easy way to adopt that technology, in effect stealing it. >> they have learned so much from us over the decades and that is why we are in this tit-for-tat back and forth and culturally speaking bob will talk about what it's like to make a deal and if it's possible. maria: the chinese commerce ministry is saying we welcome goodwill from the u.s. side. jackie, thank you so much. we'll be watching your reporting all day. markets are higher this morning on some of the headlines. dow industrials up 53 points, s&p up 4 and nasdaq up 30. we're awaiting the european central bank decision on a potential rate cut, many expecting stimulus measures in europe this morning, that decision expected in about 10 minutes' time. joining with more on that is john hilsenrath in dc. always great to see you. what are you expecting from the ecb? >> we're expecting a few things.
their benchmark interest rate is at negative 0.4%. i think the consensus in the market is they put it down by one-tenth of 1%, so down to negative 0.5%. they might relaunch their kiwi programs, is the other thing that we have to look for. do they relaunch it and how do they do it. do they get into exotic things like stocks and corporate bonds or do they stick with government debt? >> what do they think is going to be accomplished by this? they've been doing this for years. it didn't do very much, this zero interest rates, it harms banks in terms of going out and making loans. what you is the real goal of this -- what is the rea real gof this? >> that's a good question. some would argue the real goal is to depreciate the euro, depreciate the currency. if that is the objective, that's fighting words for the president of the united states. he feels like the fed is getting out-maneuvered by other central
banks who are lowering their interest rates to really depreciate their corn you sighs and get an -- currencies and get an advantage in trade relations. >> do you think that will spill over in the dispute we have with germany and others on autos from europe. >> i think it has the potential to do that. i think it has the potential to affect the dynamics of u.s.-china trade negotiations. a lot of people have argued that the president should keep his focus squarely on china and not bring american allies like germany and others into his trade fights. but i think if he thinks that the ecb is trying to depreciate the euro, it kind of reinforces this idea in the president's head that the europeans aren't playing fairly either and that he needs to go after them. maria: and he has said a long time that europe is potentially even worse than china. he actually has said that he said that to me in a couple of my interviews. the president on twitter yesterday is calling for the fed to bring rates to zero or less.
the ecb move today, you wonder if that's actually going to move the fed as well. you said not this meeting. what do you think, dagen? dagen: john said the expectation is for a point -- 0.1% cut, i mean, reduction on the downside to the negative side. if it's 20 basis points, that could be a signal that the ecb is targeting the currency, trying to weaken the euro and that could be the thing that tips the president over to call for something more dramatic from our own federal reserve but also, again, raise the prospect of tariffs on imports of autos and auto parts from europe. that's something to watch out for. maria: that would be quite significant. john, real quick and then we're going to take a break because the ecb is coming up. >.>> when the president says he wants negative interest rates, you have to remember, negative interest rates in places like
japan and europe are a sign of weakness, they're not a sign of strength it's because their economies are so week they're forced to do this. i would say be careful what you wish for on that front. the fed seems pretty locked in on interest rate cut at the next meeting but not an aggressive one. they'll probably cut rates by more than the europeans but they're still in positive territory. maria: the journal, you reported just this week it's going to be 125 basis points -- 25 basis points next week for the fed. we're awaiting the ecb decision, we want to get your comments and opinion after it happens. we are waiting on the europe mean central bank news, the ecb aannouncement on interest rates is next. back in a minute with that. ♪ i get it all the time.
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maria: welcome back. the european central bank decision on interest rates expected any minute. we have heard from turkey this morning, the turkish central bank cut rates by 325 points in its second easing move. this was expected. but it's just more signals that we are looking at a stimulus program across the world. back with us is the wall street journal senior writer, john hilsenrath. also joining us is senior market analyst, craig erlam. what are you expecting from the ecb? >> i'm expecting there is going to be stimulus. the question is just how much. the interest rate cut is fully priced in.
i think quantitative easing may be likely as well. whether mario draghi will bring the full bazooka to this meeting or whether he'll leave some, we'll have to wait and see. market expectations are extremely high. maria: it sure is. german gdp, they cut the 2019 growth forecast for germany saying a recession would hit in the third quarter. europe has been really hard-pressed to show any growth, steve, in terms of the eurozone p. >> well, because they won't make the structural change they need to make in terms of deregulation, changes in taxation, so they rely on monetary policy and we've seen monetary policy doesn't work, didn't work for europe and it didn't work in the u.s. when we tried it under barack obama for eight years. maria: part of it is they need structural change with labor laws, right? >> labor laws, making it easier to hire and fire and having the ability to be easier to start
businesses. the key thing is, europe is crushed by crazy pay control taxes. i think in france, it's over 50%. it's insane. maria: that is insane. john, any thoughts on that in terms of whether or not we are going to see fundamental change in terms of some of these labor laws and taxes? this is really a fiscal situation, not necessarily anything the ecb can do. >> i think that's a very long and slow process that's playing out in europe and in some ways they have deregulated. if you fly around europe right now, they have a lot of discount airlines. they've opened up that market. it's cheaper to fly around europe than it is the u.s. so that's an area where deregulation is helpful a bit. but things like the labor laws, it's a very slow-moving process, it's not going to happen h overnight. maria: dagen, your thoughts, as we await the ecb. we have markets that are flat waiting for a stimulus.
they will need something large but they're already negative. dagen: anything the ecb does may not help the economy. if they're trying to juice inflation by driving down the euro, there doesn't seem to be as much of a connection or correlation between those two very things. and the ecb runs the risk of igniting or reigniting the ire of the president of the united states in terms of a currency war with europe and you have to be careful about what his reaction will be, i'm not just talking about twitter. >> and negative interest rates hurt the banks and european banks are not in as good of shape as american banks. europe is more dependent on bank lending for their economies. what the ecb is doing is hurting the economy, not helping it. dagenthe.dagen: the negative rt hurt bank profits could cause banks to charge more for the loans which has the opposite bank. maria: the european central bank is cutting interest rates right now. we are getting the headlines as
they're happening now. ashley webster is with us now. ashley: here we go. the rate on deposits down 10 basis points, down to 0.5% as opposed to 0.4%. that was expected. the rate of re-fi staying at zero percent which is where it is right now. as we go through this, let's not forget the ecb has done a lot. they stopped qe back in december. we're waiting to see whether they get back into that game as john was saying earlier, what kind of things are they going to buy, government debt or does it get more exotic. the other point i want to make is the ecb can do whatever it wants. it can bring out ba bazookas to. part of the problem is the fiscal policy, what will governments do to increase government spending. we know germany refuses to get into government spending. they're running a surplus, yet they're not doing anything to help spur their own economy. that is part of the problem.
asset purchases, to resume asset purchases, i'm getting the headlines as they come down, they're going to resum asset purchases in november. that is interesting. and buy 20 billion euros in bond, so it's government debt per month, for as long as necessary. so there you go. it was speculated, in fact they'd get back into qe, quantitative easing, and they are indeed, 20 billion euros in bonds per month. so that's another development from the ecb. maria: more asset purchases and a cut in the deposit rate. john hilsenrath, your reaction to what the ecb is doing as we see markets reacting, european indices are higher across the board on this news and the euro is also moving. >> right. so i think it's about as expected. i don't know if the markets are going to crazy on this. we expected that tenth of a percent cut in the deposit rate. they didn't do something more aggressive as dagen said, if they had gone to two-tenths of a
percent or more, that would have signaled an aggressive move. they resumed the qe program but they didn't get into exotic stuff like stocks or etfs which is what the japanese are doing. mario draghi faced resistance to going aggressive. sounds like you chose the straight line path, what the market was expecting. again, coming back to what this means in the united states, i think this is going to be evidence to the president that the u.s. central bank, the federal reserve isn't being aggressive enough and needs to do even more. maria: yeah. we've got a rally in u.s. futures as well. dow futures have doubled right now, up 91 points on the dow, subpoena is up 9 and nasdaq is up 48 on this ecb cut. craig is with us as well. your reaction to what markets are doing on this ecb news, craig? >> yeah, i mean, i think this falls shy of expectations for me. i thought we'd see more bond buying. i've got to agree with
everything your guests are saying. what's the point in all of this? what's it going to achieve? i'd say very little. banks are under enough pressure, going further into negative territory is not going to help that. we need more he details on the structure of this are they going to change how much bonds they can buy, particularly for germany. will it rise to 50%? will there be changes to the capital key. what proportions different countries, bonds they'll have to buy and what adjustments are there going to be on the negative deposit rates to try to insulate the banks. all of these technical questions are key to whether the quantity testif-- quantitative easing prm could be successful. fiscal stimulus is going to be far more important for the year over year economy and there is resistance. >> was mario draghi trying to have a big fireworks before he left and couldn't get much fireworks? [ laughter ] >> legacy thing. >> i think he certainly likes to bring the fireworks. >> can i say one thing on the
fiscal policy front. so it is the case, all eyes should be on germany right now and i think the question is why aren't they cutting taxes? there's a possibility of them spending more but the germans are in a very strong fiscal position. they have surpluses. they could be in a position to cut taxes and spur growth in spending from that front and they just don't seem inclined to do it. >> is the problem with germany the coalition? you've got the conservatives, the so-called conservatives might be aamenable to tax cuts. merkel one point liked the flat tax. they've got a partner that would be anathema wouldn't it. >> it's the politics. i also think it's the mindset of the germans to be very you prudent fiscally. they want to run -- they see surplus as signs of long-term strength. they don't want to be running big deficits and building up a lot of government debt which is
kind of contrary to the rest of the world. it seems a little crazy right now in europe because the government is getting paid to issue debt. maria: the ebb changes the guidance on interest rate policy, cuts the deposit rate and says as oat asset purchases continue. craig, john, ashley, thank you gentlemen. coming up, a jury rules against j.pjohnson & johnson and talc products. more on the expensive verdict, coming up. here, it all starts with a simple...
products caused their illness. thju voted that the company exposed each plaintiff to asbestos and failed to warn about dangers of its products. johnsojohnson and johnson faces0 talc related lawsuits nationwide. boeing's ceo speaking out against the 737 max saying that it is still expected to fly again later this year but government regulators may not bring the plane back at the same time he said. he spoke at at an investor conference yesterday. the max has been grounded since march. shares of boeing slightly higher in the premarket. there is this groupon is looking to acquisition as shareholders is showing worries over the financfinancials and the stock . they could be targeting yelp, it could create synergies, creating
a company with earnings of $900 million to $1 billion. that's according to sources that are talking to the journal. i decided if i go to yell b and yelp and iget a restaurant revio to groupon. maria: we'll talk with peter navarro weighing in on negotiations coming you up next hour, "mornings with maria." stay with us. ♪ it's my chance for romance tonight. ♪ oh, i need you by me. ♪ beside me, to guide me. ♪ 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. of the value you'll find at fidelity. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin.
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euros worth of bonds i'm sorry 20 billion your oz worth of bonds% month what it means for federal reserve meeting next week tuesday and wednesday u.s. china trade sepgs easing "the wall street journal" reports china wants to narrow negotiations to focus on trade matters put national security on separate track this after president trump delayed a planned tariff increase two weeks said it was a show of good will ahead of next month's face-to-face meetings in washington in early october futures higher opening this morning as things have accelerated post ecb meeting dow industrials right now up 81 s&p up 8, nasdaq up 45. on top of gains across the board yesterday, the dow higher 6th session in a row dow s&p 500 just about less than % away from all-time highs. dow industrials up 227 points yesterday, global markets picked up union indices reacting to ecb decision positive ft 100 up 13, cac
quarante in paris up 32 dax in germany up 71 in asia overnight mixed south korea closed to national headlined but japan up three-quarters of a% as china shanghai composite up three-quarters of a percent victory for president trump on immigration this morning sproelt backing the administration plan to asylum to some central americans depending on situation smile direct club to go public the only dent i have theory start-up pricing ipo 23 dollars a share nearly nine-billion-dollar valuation all storz this thursday morning top story u.s.-china trade talks "the wall street journal" is reporting that china is trying to narrow the scope of negotiations, to focus only on trade, putting national security issues only separate track, after president trump i had there a percent tariff increase on chinese goods, he is delaying by two weeks, sign of good faith joining me office of
trade manufacturing policy director peter navarro great to see you. thank you so much for joining us allotted to talk about this morning i want to get to your reaction to the ecb about, of course, also your op-ed this morning in "financial times" first let's talk about china, why is the president delaying the tariffs from october 1 to october 15. >> request from chinese side given that october 1st is anniversary of the people's republic of china there was just a nice good-faith effort, by president trump. >> all right, now, the chinese apparently want to separate these tracks they want to focus only on trade, and put national security issues on another separate track the "the wall street journal" is reporting this, this morning poort can you do that? can you takeaway the national security frshz trade conversation? >> let me refresh our memory as on your show sunday about the lighthizer rule that all negotiations on take place
behind closed doors we do not leak i have no comment we need to negotiate behind closed doors the big news for me today this morning the futures are going up, is this move by ecb i think something that i predicted and said if ecb did this, it is aggressive because not just a rate cut it is quantitative easing increase probability fed would cut 50 basis points great for economy the global economy. >> you did i want to tick get your take on that peter you have talked about the seven sins china does all the time you talked about, the -- >> i am not biting on this maria no way that i am going to talk about this morning, i have been very clear. >> you said in the past. >> you can talk about it -- >> is real important as forced transfer of technology manipulation of the currency. >> stop being --
>> you are educated. >> -- you -- you educated us, so the questions that chinese are trying to do, and politico you said politico report yesterday the politico team -- >> i don't sit on my phone watching politico things come cross no idea what politico says, maria. >> politico yesterday reported that chinese said to light you're team whatever, and they said that look, we will apply more stuff we will buy more grill products lay off huawei. can you lay off huawei. >> again, the lighthizer rule we are negotiating, this issue behind closed doors, full stop you are not going to be negotiating this through politico or "the wall street journal," or bloomberg. >> you are on fox business right now, by the way,. listen in terms of the issues, that you have highlighted they see are por you educated the
country about it great job people understand national security. >> the president has been beautiful on this united this country around china raised awareness about the scope of the issues. i think that what is important for investors though is that these about negotiations take ace behind closed doors rule two inactivo rule if it doesn't come from lighthizer himself or named source it is probably fake news i would love to talk about what i am going to be doing today. >> if you considered to put national security issues to the side. >> i am not going there i am not going there. >> you tell me not important,r they important or not important? >> maria i am not the lead negotiate here doing this behind closed doors the right way this president has been beautiful negotiating this deal we have the seven structural issues including fentanyl will be negotiated full stop let's wait see what
hatches in october meantime today really important day for mrn people this is a little breaking news for you later on i am going to be at blair hours outside the white house with, a group of foreign ambassadors representatives from state department, i am going to negotiating team to talk about about very important issue, about how are universal pollster union has a system in which americans are getting clocks cleaned under antiquated rules universal postalnion usps, postal system has to heavily subsidize incoming mail of a number of countries to tune of hundreds of million dollars a year puts manufactureers workers out of business president said enough is enough directed our team to tell them we are getting out in a year we sent a notice to them, takes a year for that clock to toll but meantime,
the good news is that joint interagos team has done a really good job working with the upu, i will be going to gn eva september 23 for what is called a third extraordinary congress going to have whole team there, two issues on the ballot. maria: right. >> if we get a favorable vote we will be able to end this nonsense forever say in upu a great example of a diplomatic victory for the president if we don't get those votes we will be out a great victory for the president undermine of leadership, of not having american publicss exploited it is crazy that. >> you told me you can send a package cheaper from from shanghai composite to u.s. it is cheaper to do that than from chicago to new york. >> yeah, and therein lies the tell a american manufacturers workers can't compete with it shippers can't compete the
worse part usps has to foot the bill worse part a lot of traffic we are subsidizing is counterfeit pushing her own products fentanyl, opioids fake lipitor whatever in shanghai they stuffy in pacts bottom barred with us that i don't foe if you know might be fun for your team to go to the airport watch millionth package trying to sort through that get can't baontraband we a doing this right state department relts doing great job working with ambassadors around the world canada finland sweden behind this national association manufactures chamber of commerce solidly behind this, about this would be a real victory for the american people for president trump, we're going to try to bring this o home for president when we go to geneva as op-ed in ft
states today, change the unfair international pols to rate system now i find it fascinating that all packages are coming from china, has chinese admitted that they send in the event send fentanyl in u.s. >> seem in denial about whole fentanyl issue in last several week a ship was interdicked from mexican navy from hang shy had 23,000 kilograms fentanyl that is enough to kill the state of florida. >> goodness. >> it is just -- this is the fentanyl issue is just -- out of control, and i was in by an buenos aires 2018 chinese said promised they would put an end to this we haven't anything slow down at all, by the end of today another 100 americans will die from made in china
fentanyl other opioids by the end of the week another thousand americans over 50,000 in a year so this is one of the seven deadly sins that we need to deal with but, meantime, this issue i have been working object this almost a year now with great team, the postmaster general she is one of the coolest he people i ever met so come competent so good state department i can't say more about team the process we have been running let's see if we can bring this home for america bring it home for the president but either way we're going off to fair rates after that congress in geneva we are either out of upu, or we will have fair rule. >>s is this going to affect talks coming up in october in any way going to come up early october when you've got face-to-face talks between u.s. and china in washington. >> no. this is on a totally straight,
straight track has nothing to do with any of that nothing. >> what about the entity list in terms of huawei, and where that stands right now i know there is a lot of pressure coming from the chinese, to -- to lift any pushback on huawei. >> so our policy on huawei has been firm and clear. . there will be no purchase of any huawei products by the government. at the -- the department of commerce, there is an entities list we're not selling things to huawei, and that is what -- >> that is the thing, there are back doors in these products, we know that. and there was a backdoor in products in italy a vodafone infrastructure europeans have huawei infrastructure all over huawei zone do you see any indication from friends in europe they are going to reverse take huawei equipment out secretary pompeo was in this studio months ago said to be look if europe keeps huawei
products the way they are we will share less information with them because it is a national security issue. >> i think you probably should get secretary pompeo back in the studio ask him that, that one is a little -- outside my lane but what i can tell you is certainly, there is problems with huawei, both on software end because it is a matter of send agnew pat of o compromising things also where had the hardware this government this president well aware of the dangers of huawei and we have very firm policy on that, and that is all i can say about that. maria: which is why it just seems to me who has been a student of this last year it is impossible to straight trade from national security issues. >> peter. >> you come back to that maria. look. again, we have the best president in if modern history having best u.s. trade representative lighthizer. >> can he do a deal without
looking at national security. >> lighthizer is in charge of this he will go behind closed doors and negotiating this. you can't we can't put me in this this is not a hot seat i keep telling same thing negotiations behind closed doors lighthizer rule inactivo rule if you read stories. >> we've got to make a productive thank youh interview european central bank cuts 10 basis points markets rallying if fed cuts rates next week 25 basis points as journal reported is that going dooeb enough to move the immediately on economic growth. >> move the needle but not enough this is a chess match. fed is playing checkers in a chess world you got to look at what europeans just did match that -- >> the president wants ratesing to to zero the president -- zero ratings, peter, that is indicative of weak economies you are saying the economy is strong do you
really want fed to go to zero? >> you are you going to let me answer. >> go ahead, sorry. >> the problem is that we have a large interest rate spread between what we have and what europe has that is driving up the dollar through trade higher the dollar goes that hurts our exports we saw in q2, that we lost two-thirds of a point, alone to reduce exports the fed is costing us a point of are getting the fed differs difference between 2% rate growth strong trump economy and 3% zmie what about uncertainty around tariffs. >> stay on fed he though. >> both important. >> the market just went up, on ecb news, rallied strongly on ecb the question what did fed funds futures did probability 50 basis points go up the other big thing that has to
happen 30 to 60 days, usmca that is another point of growth let's make this economy great this president has economy that is strong we need to make it even better the fed can help congress -- the fed, do your job. >> he peter thank you so much. 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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a 97-year-old firm built for right now. with one financial advisor per office, we're all about knowing what's important to you the one who matters. edward jones. it's time for investing to feel individual. maria: president trump tweeted own ecb what he just said european central bank acting quickly cuts rates 10 basis points trying succeeding in dpleeshing the euro the fed sittings and sits paid to borrow money we are paying interest writes the president the supreme court, reinstating the trump administration asylum restrictions cheryl casone. >> the high court okaying rules on asylum-seekers trying to enter u.s. by traveling through a third country such as mexico without first seeking protection there, the court said that restrictions could take effect even as it faces we should say lower court challenges on merits of
that case. >> the ipo market heating up smile direct club raising 1.35 billion dollars fifth biggest ipo ipo this year 8.9 billion priced at 23 dollars above the expected range we should say. those are your headlines, maria back over to you. maria: cheryl thank you so much chris i want your take on victory for the trump administration, on asylum, how do you see it. >> part of a larger trend i think bill barr is behind this the supreme court is behind it as well i think, that lower courts are getting ahead of -- issued in national injune junction beyond scope, texas knew mexico from stopping -- immigration laws part of a broader trend have not made ruling yet saying no, no, no,
you can't a judge sitting in california cannot just unilaterally stop executive from enforcing. >> what about the ninth circuit what will we hear from them. >> i think -- i am not sure what exactly they have to do now before this gets to supreme court. it has been kicked back, to them, before, and the ninth circuit what white house is working on with them trying to make deals with california to do we put one conservative leaning judge for every one or two liberal leaning judges try to actually add a few more conservatives to the ninth circuit but that is going to be a problem for trump administration next one to five years. >> all right. >> is there big case coming along with the supreme court? do you know that really clear this once and for. >> not the problem of national injunctions we have some rumors department of justice
working on guidance they can issue, we know the administration is more careful this is something bill barr's crosshairs for sure. >> we leave it there we will come back check on america's opiod crisis back in a minute. with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k.
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maria: we'll welcome want is to show shares of kroger this morning set to report second quarter earnings gerri willis expecting a good opening upside. >> not for kroger it doesn't look good for them they need a great quarter here, to meet their full year comp what is going on expecting 41 cents a share on eps revenue 28.36 billion activist investors could step in if they don't the improvement walmart eating
lunch in terms of sales growth 3% versus kroger's 2% last night oracle a day earlier than expected, earnings tame in in line 81 cents a share revenue at 9.22 billion a disappointment the forecast disappointed as well we have been talking about ceo taking medical leave, and mary ellison will be running that company i want to get to apple here, stock continuing to trade higher premarket, here, the company hitting a one trillion-dollar market cap for the first time largely on announcement three inside iphones apple watch ipad service for content 4.99 a month undercuting disney a lot going on we get set to open looks pretty positive back to you. maria: gerri thanks very much futures indicating a gain about 90 points on dow coming
up we have consumer price index up back to before ecb news we will look at markets as well as cpi when we come back america opioid crisis purdue pharma reaching a tentative deal he with several states the attorney general josh stein with us saying good riddance to the company approximately he will jo ♪
that one?! no! what about that?! no! what about now?! no! that do it?! [ buffer stops ] still not working! how 'bout now?! no! i just don't know. i mean, i don't know who labeled this thing. yeah?! no! expecting increase -- to mnuchin treasury secretary is speaking. >> -- foreign minister they understood they need waivers from u.s. to do that, and that is not something we are contemplating at the moment.
>> is there a sea change with -- >> no sea change i have been perfectly fair secretary pompeo and i have been executing the president's maximum pressure, campaign president --r said he would sit down with rouhani no conditions that is not planned at the moment. >> -- the president said that he delayed next round of tariffs on china. >> i don't think there was anything specifically in return this was an issue that october 1 had a big sighing against to them anniversary asked to delay it president agreed would i hope china reciprocates this was a goodwillesture to the chinese. >> a major theme of -- debate will you be watching what watching for. >> i don't know i will watch parts i am sure will see news clips after it is perfectly clear there are two different
approaches to the economy i think it is clear what our approach has been, it worked. whether it is our tax tax cuts rrg release or trade u.s. economy out performing everything else in the world i think if you listen to the elizabeth warren plan, you know, it is a one hundred percent recession if not worse. >> there was a lot in that interview if you don't mind a different thing -- on china, huawei do you -- the trade team the administration believe huawei is national security issue? or a trade issue? or both? and secondly, you talked about the possibility of a 50 year bond in a prior interview talked about possibility 50 of 50 and 100 can you fell out what is are in consideration fo. >> for what -- >> we talked huawei there are national security issues with huawei not things we are discussing i think you know department of commerce is looking at waivers for certain issues that are not national
security. so huawei there are two sides to that. and bonds, focus right now is on 50 year bond, that is something we are actively considering for next year and we will consider, a hundred year bond at appropriate time. >> mr. secretary -- >> the effective negotiating strategy a set of -- delaying that. >> when you say continuously delay we have tariffs on we have tariffs on 550 billion of goods i wouldn't exactly call that a delay, and -- and -- and any negotiation first of all, there is no question the only reason why china is seriously negotiating with us is because of the tariffs. and this president is dealing with that issues should have been dealt with the last 20 or 30 years. so -- tariffs do work it is what brought them to the table. no different on that sanctions work. and the president, of course, is a negotiator this delay was
a good will gesture nothing he more than that. >> -- >> spoke with chinese, can you guarantee the -- >> i spoke to the chinese i believe a week ago, there is a deputy level meeting that is set up i believe either next week or following week, they are coming here, we expect they will be active work done ambassador and i have a date in the beginning of october, i think you know with some logistics issues, ambassador is very focused getting usmca done now that congress is back in session, so that is the number one priority, we have ungo coming up ambassador working on japanese deal logistics issues about my expectation is they will be here in october unless something changes. >> france say said should not be developed in europe your response to what -- >> i'm sorry what should not about be. >> libra -- >> i think we have been very
clear i have had very direct discussions with the consortium that before we approve this in united states, and the u.s. dollar which is around the world, we would make sure there are very serious conditions put in to make sure that it is not used for terrorist financing not used for money launderinging. they have not met those conditions they don't have a plan to meet those conditions, so i think it is a long way away if ever, thank you, everybody. >> thank you, mr. secretary. >> all right treasury secretary mnuchin talking to reports that gaggle just there we heard him say that we are going to hear from the chinese, and deputy level next week. and then, of course, the face-to-face meetings, on october, what do you guys expect? . >> i think, they are going to get a response the chinese to the idea that they can separate trade and national security. >> you think they will separate national security and trade. >> chinese are going to -- push for that, and
administration probably why navratilovaro i can say so awful this morning not answering that question is because they don't have an answer yet. >> i mean i find it impossible to separate the two things, given the focus that we have had. >> they are the ones who put it together you could have had it separated. >> exactly, but now after all of this conversation. >> it is impossible to unscramble it now now the public understands the issues. >> public does understands i don't think they are interested -- american mind-set changed dramatically not just that they have stolen from us, even worse is that a lot of america's american ceos have popped chinese, business practices whole idea if we pump billions of dollars get rich in the chinese communist economy they become more free largely turned out falsely i don't think united states and china relationship is ever going to turn back to purely not for a long time the purely economic relationship that we
enjoyed with them or thought we were in 2000's. >> big statement like no looking back. >> i think we are looking down the barrel -- >> i think that with china they need to understand the rules of the game, and one of the things that the marines and navy are looking at facilities on islands or make they to block about potentially block oil shipments to china if we ever came to a confrontation. >> they are putting military bases? >> put aside military thing that tells allies in asia we're not positive moving out not going book to america only, good thing. >> if you only get financial agreement with china on trade why did you inflict pain on american farmers and on american manufacturers to an extent in order to just get china to apply more -- >> it was trade deficit -- >> the manufacturings u.s. manufacturers praikt in china they are shifting production, but in many cases not shipping
back to united states they are moving it to other low cost countries doesn't -- doesn't benefit overall in term of trying to bring jobs. >> navarro was wrong when he dismissed how complicated supply chains are. >> manufacturing con traktd last month. >> we look at opioid crisis attorney general jeff stein is here. he said good riddance to the company. he will join us. can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned.
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america eshpurdue pharma maker of the oxy contin reaching settlement with 23 states over accusations it helped because prolong opioid crisis, the settlement enables the sockler family to exit company paying billions to avoid purdue bankruptcy joins us attorney general josh stein thank you very much for being here. >> thanks pleasure to be with you -- >> tell me what you see in terms of culpability for this crisis on purdue? >> extreme. this is the deadliest drug epidemic in nation's history we have had declining life expectation in the united states in each of the last three years something that has not happened in over 100 years world war i, flu epidemic last
time it happened it is almost directly trouble to opioid overdose deaths we lose five people every day in my state the are as responsible or more responsible. >> this was allowed to do it where is fda i recognize the sefrt but can you put all blame on purdue when this is a regulated industry? >> we didn't put all blame on purdue other distributors made billions as well what purdue did misrepresent addict nervous to prescribe rz there is a valid medical use no one wants to ban opioids people with chronic pain need to have pain treated should not give up willy-nilly like what happened two decades in the united states. >> purdue didn't just give out
drugs or let doctors prescribe them the revolutionized the way american doctors looks at opioids patients who have injuries not fatal have a right to not feel pain too high dosage targeted veterans seniors your lawsuits against purdue got to that i worry the message is getting loss that the people just look at this and say aren't you just blaming the company when they did not really mean to do this? >> didn't they do morehan make drugs they twashthd people tried to change culture. >> rewarding doctors who prescribed more wanted more and more sold very aggressive with sales marketing team, about they refused to accept responsibility sackler one of the single-family members involved said once clear millions addicted to pill said we have to make these people they are addicts the wrongdoers put the blame on
them, then a few years ago came up with project tango a new business opportunity because they created these millions of people with addictions wanted to sell the addiction treatment drugs they wanted money coming and going, they have sucked billions out of purdue pharma over the last decade now frankly company is a shelf the pharmaceutical company. >> steve forbes here why didn't local law enforcement do more gen pill mills you is a you in california around the country where you get to some -- all prescriptions going, get all pills. nothing to do with pain or anything, why wasn't there more of a local crackdown on something clearly abusive? >> have is it it was abusive, there are crackdowns used to be many in florida, florida aggressively put that industry out of business, north carolina i led effort to pass a bill the stop acting would
reduce over prescribing and help turn the dial back on any precyber medical board held those many accountable this is a complex problem, there are many elements we have to work on prevention work on treatment inform against drug tradition of i caners bringing street drugs into america we have to hold accountable the corporation that helped fuel this epidemic. >> has there been a drug company before that behaved like about this to your knowled knowledge? >> i don't have that vast ab historic knowledge but what they have done is absolutely aegregious u.s. i don't believe this proposed framework announced only a minority of states have embraced it the majority of states remain in the camp that
believe that the sacklers need to make a more certain substantial finance commitment to pay for the damage they have inflicted on our nation lord knows they have money they have extraktd billions and billions of dollars we want them to guarantee financial commitment before we get onboard. >> when will you sue sacklers directly then? >> today, tomorrow, monday any day. maria: . >> it is dagen mcdowell. you have to prove personal would you have to prove some personal knowledge what have they were doing right do you have evidence of that? >> we absolutely do, the sacklers executives are directors of the company, were personally being instructing sales and marketing teaming to out there, and sell more drugs. no matter what the cost was. >> it would be very nice to see sackler name on some clinics for getting people free from this drug as opposed to most department of agriculture blg about art
museums in the planet. >> that goes to the point how money from settlements about extracted not just from interest purdue pharma but other manufactures that it is put to best use you have seen in past tobacco settlement where did that go. >> some very good use some to phil potholes i share your concern one hundred percent. >> whatever money we get from purdue pharma from the sackler family distributors, manufactures must go to abate the crisis, because there are literally millions of people struggling with opioid addiction in our nation. >> let me switch gestures ask about plan president announced yesterday about vaping products here is what the president said watch. >> so we can't allow people to get sick and we can't have our youth be so affected people are dying. with vaping, so we are looking at it very closely if nothing
else this is a conference that is going to let people ne about it people are going to watch when a we're saying parents are going to be a lot loufr with respect to children a lot of people think vaping is wonderful it is great. it is really not wonderful. >> attorney general, the administration pulling most vaping products from the market, about what do you want to see done in north carolina? >> so a well, i want to compliment the trump administration, for its actions, to take flavor out of the marketplace, fda commissioner has been a big leader on this, i see juul dominate, dominate e-cigarette company 80% high schoolers who vape use juul, ask children why are you doing this they say 86% because they like flavorors manning go cream
boulet it can goem from two naifrz i have asserted adults want to do this should feel free to do that companies designed marketed sold to target children unconscionable unlawful in north carolina why i sued sewell 8 other e-cigarette companies. >> that is growth plan i guess getting teenagers to smoke it is good to see you this morning thanks very much josh stein joining us president trump tweeted on china said it is expected that china will be buying large amounts of our agricultural products. no comment about national security. we'll be right back. ♪ ♪
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40 minutes from the opening bell futures to gain start of trading we are -- shy of the high, 0 points p after ecb came out dow industrials up 68, s&p up 8 nasdaq up 53 european central bank in morning announced cutting interest rates by 10 basis points cut deposit rated said going to be buying more assets, more bonds, the ecb university o deposit rate to negative 5/10 from negative 4/10 refy rate unchanged also talking about mitigation measures in tiered system saying going to be buying more assets anybody's reaction here in terms of the ecb do you want to see central change steve forbes i want to see taxes go down labor laws if i could. >> absolutely.
>> you are getting europe to grow again what ecb is doing itself actually going to make the situation worse banks more reluctant to lend going to diskort credit markets, result is europe in if worse off position, didn't work under obama here zero interest rates not to mention negative interest rates, hasn't worked in europe since 2008 this is capital of insanity doesn't work keep going it marrow draghi ecb president said there continues downside risks dagen in economy. >> the economy stinks there, germany for example, is contract being it if a 20 base poins potentially currency devaluation would not have gone well for europe or united states in terms of how president trump might have reacted to that he is still
reacting -- you read the tweet earlier i can't, he is talking about europe just paid to borrow money we're paying interest you don't want about the zero rates in the united states you don't want negative rates would be a sign the economy is lousy our economy is not lousy. i look to this consumer price index core, up more than a year since july of 2018, was up 2.4%, core rate, that is a sign of health a sign that our federal reserve doesn't need to be in other aggressive than maybe a quarter point cut next or quarter point cut next week. >> dollar strong as it is president doesn't like a strong dollar made that clear. >> i is upside down to this economy stink for lower interest rates is that what we are talking about. >> great countries have great currencies. >> let's break final thoughts
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maria: all right. time for final thoughts from this all-star panel. steve forbes? >> watch the china trade talks, not the federal reserve. what happens with china's going to matter. if they get a deal, watch for a good market and the economy will get better next year. maria: chris? >> absolutely. it's good to see maybe something's good coming for agriculture. if the president separates the trade from national security, then we are making a deal with the devil. maria: not good. dagen? >> from a trump supporter on twitter, tennessee garden girl, president trump seems to forget that a lot of seniors rely on savings. low interest rates means less to live on. during the obama years, seniors suffered the most. remember that. your voting bloc.
zero interest rates, not good. punishing people who have done the right thing and saved their money. maria: wow. we have been faced with that for years now. great to see everybody. good show today. thank you so much. always a pleasure to see you. come back soon. have a great day, everybody. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. question, what do you get when there's favorable china trade news? the near certainty of a fed rate cut soon. virtually no inflation, no yield curve inversion, full employment and a top performing economy. what do you get? answer, this. a stock market rally within a few points of all-time record highs, up six days in a row. the dow will be up again at the open. it's only a couple hundred points, 200 points away from its all-time high. the s&p, very close. 20 points away. it too will be up in the early going. same story with the nasdaq. this could be a record-setting day. quick point here. the rally mns