Transcripts For FBC Mornings With Maria Bartiromo 20240714

Perdue joining us along with Arkansas Attorney general leslie on the bigtech antitrust lawsuit plus newly chief Financial Officer whitney on new data connecting restaurants with suppliers. We are looking at declines, dow industrials off of the lows, 40 points on the dow this morning, s p down 4 and a quarter and nasdaq lower by 17. President trump hit campaign trail in North Carolina rallying for republican candidate dan bishop for congress in state special election today, the president sounded off on u. S. China trade and the economy. Watch. More americans are working today than ever before in the history of our country, almost 160 million americans, weve now had 13 straight months of wage gains of at least 3 , wages are going up, the economy is doing great and jobs have never been better. More than 7 million americans will be lifted off of food stamps. Nearly 600,000 americans entered the labor force last month alone. China wants to talk, they want to talk. China lost 3 million jobs, thousands of companies are leaving china, the supply chain is crumbling because they cant pay the tariffs, china made 500 billion over the last number of years on a yearly basis they steal our intellectual property, so many other things, so its just different and tariffs are beautiful thing when you know how to use them. Maria well, look, generating revenue on the tariffs but also slowing the economy, your thoughts . Because its revenues paid by the importers in the United States, its a transfer of payments to farmers, they bailed out farmers but what about the manufacturers in the country that are being hurt like this. He doesnt need to focus on tariffs, he can focus on strong economy, it is still very, very solid despite the weakness in manufacturing but thats got to be a for the trump campaign, is the real slowdown and job creation and manufacturing contraction because farmers still standby President Trump, manufacturing was lynchpin to his win 3 years ago. The president knows where his bread butter come 2020 and thats the economy, we saw in last weeks jobs report that even though slowing down, the fundamentals are still strong, we are not necessarily heading towards recession and thats an astounding thing and the fact that we are still in trade war and spooking investors, most of the idea that we dont know where it ends and if the president s messaging can be focused in terms of trade war, i think we can keep the economy going in 2020. Maria anticipation, you hadnt really seen it in all of the numbers aside from manufacturing pmi reports. Dagen he cant be too specific in terms of the negotiations because then he will box himself in and he boxes his administration in in terms of what might be on the table in the next couple of months but also and i will raise this because its doesnt have to be booming growth or recession, so if we get soft, nevertheless growth into the next year, how does that impact . Lets assume that it looks like it does now, hes going to be talking about jobs, democrats are going to need to convince the American People that they will not do anything thats going to kill the economy right now. When we watch the democrats on thursday night, i just want someone to at least pretend that theyre having fun out there because i dont think that they get that there might be people that agree with their positions but are turned off by the massively different message between we should try and cut back on greenhouse emissions versus hamburger is evil. Dagen beyond that, and i will point this out and what these democrats and i will point out the likes of Elizabeth Warren and bernie sanders, youre lowering the standard of americans if you get rid of fossil fuel, we can get it out of the grounded in the United States, so when you talk about basically tearing, destroying millions of jobs and tearing that part of the economy, youre talking about hitting the poor and lowerincome americans harder than anybody else, how is that not immoral. Are you surprised that billionaire george soros offering President Trump praise in wall street journal oped he writes this, trump sellout in the u. S. Hauwei, writing, quote, the administration rightly declared beijing and strategic rival and placed hauwei on the Commerce Department socalled entity list as National Security threat this prevents u. S. Companies from doing business with hauwei and appears desperate for a deal with president xi, to bolster the u. S. Stock market and improve his chances at reelection, putting his electoral interest ahead of americas interest, urging the president not to let hauwei off the hook or use it as bargaining chip as he did with hauweis rival zte last year. Soros called great Foreign Policy achievement, im shocked actually. Just like every other democrat in the country, a liberal with a further thats further moving left and embracing that sort of communism authoritarianism. Maria yeah. With soros, soros is a liberal and you look at what china has been doing, its something that does come from the framework of, you know, mind set that a lot of the top leaders in the democratic have now embraced. You see bernie sanders, he does not refer to china as an enemy when it very much is. Maria the president has changed the conversation on china, no doubt about it, george soros has to know that even though hes so against donald trump, i mean, huge supporter of hillary clinton, huge supporter of the democrats, you cant ignore what this president has done on china. He says that china hes talked for literally years, china is a dangerous rival and at the very end of it he points out why he would be writing this, founder of open society foundation, he said i believe that the social criticism beijing is building is allowed to open societies not only in china but around the globe, eager to buy Chinese Companies making them politically and financially dependent on china and political control worldwide. Thats kind of exclamation on this point, he keeps he praises trump slightly and then he kind of back hands the president , soros is concerned about the global reach and power of a communist government that is only operating in its own selfinterest. Maria people have to understand that because china is using facial recognition to identify and track all of its citizens, track anybody who is in that country and also at the same time operating to become to largest is your super power,u dont want a communist country running the world. Dagen so calls on congress to prevent any handout, any giving way to hauwei. Hes calling on congress to step up and theres some legislation both in the senate from mitt romney and in the house from republican representative Mike Gallagher basically trying to prevent President Trump from removing hauwei from the entity list. Maria we will see if the europeans get on board, last time we checked europe had hauwei infrastructure throughout the euro zone. I was going to say this is the closest thing we have in america to bipartisan agreement, its not much but i will take it. Lets try to build a bridge while we are at it. We agree that china needs to be dealt with, you know, even people who disagree with some of the president s Foreign Policy matters seem to be on board with this. Maria lets turn for apple for a second, big day, major event today expecting to reveal new products including iphone 11, what is everybody expecting here . Im expecting a phone that you dont need to upgrade too, im an apple fan, ive got what was as of yesterday the latest phone and its not a remarkable upgrade from the one i had before, i think the next big reason, the last update was when apple years ago went to bigger screens, the next one is when they go to 5g service. Maria im not buying another phone until its 5g. You want to sit out the cycle and wait for spring. Maria last time i ran out and got the latest and the greatest, iphone 10 it was horrible because there were so many bugs in it and i needed to wait to get them to fix the bugs before i got new one. Dagen this is the xs, its the 10s, but they are really pushing people to do the automatic phone upgrades, so its recurring revenue, you pay monthly fee and every time the new phone comes out you get it, they are trying to get predictable revenue stream from that and just want to point out apple stock up about 36 year to date, the nasdaq, nasdaq composite only up about 22 , outperforming the nasdaq. Maria there you go, is there a valuation concern, i dont know. Ingdagen with all that cash trade big, big discount. Maria not as much discount right now. Peace talks are dead, President Trump calling off any potential meeting with the taliban, we have the details there when we come back and wework still feeling the pressure, the Largest Company investor is now speaking out about plan ipo, they want it shelved, what are they saying next. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. Audreys on it. Eating right . On it staying active . On it. 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President trump is now saying that people fleeing the bahamas for the u. S. Do need to have proper documentation to enter the country. Well, coast guard looking for crew members, the ship rolled over sunday, rescuers were able to find the south korean crew members by drilling hole, describe as alert and in relatively good condition, the ship was carrying more than 4,000 cars to baltimore. Wework urge today delay initial public offering, sources tell Financial Times that concerns of weworks business model, the board makeup, you talked about that yesterday, the wall street journal reporting that wework may cut valuation to below 20 billion, less than half earlier on valuation, wework, softbank as you know 4. 4 billion invested in wework, softbank certainly has a voice on how ipo is rolled out or not. Maria north Korea Tensions, the rogue nations firing two Ballistic Missiles despite talks. 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That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Maria welcome back, north Korea Tensions this morning, the country is firing two short range missiles happened yesterday after ready to restart Nuclear Talks with the joining, retired fourstar general jack keane, always a pleasure to see you, thanks so much for being here. Good morning, maria. Maria your reaction to north korea, what are they up to . They are pretty serious now about having some kind of negotiations, clearly what theyve been doing is trying to gain leverage, given the hanoi summit talks without any sanction relief, what they thought they were able to achieve. I believe talks started at lower which are more appropriate but i believe they will be pretty tough because North Koreans will want something out of this and in the United States we have never received any tangible commitment to denuclearization of the weapons or of the Ballistic Missiles so we want something along those lines as well and i dont think we will have a summit unless theres tangible progress made on a north korean and the United States side. Yeah, why test these missiles if youre saying that you want to restart the talks . Its out of their playbook, they dont react the way we do, the grandfather, the father was the same way, prior to negotiations they usually create some kind of crisis, the rhetoric goes up, this is the playbook and also they many of these missile tests were timed in concert with the south koreanUnited States military exercises that were taking place, fundamental opposed to. Let me turn to afghanistan because the president spoke out on decision to end the peace talks with the taliban, ive got to get your reaction to this, general. We had a meeting scheduled with my idea, when i heard very simply that they killed one of our soldiers and 12 other innocent people, i said, theres no way im meeting on that basis, theres no way im meeting, they are dead as far as im concerned. Maria wow the president called off the meeting after the group claimed responsibility for the car bomb attack that killed u. S. Service member, general, your reaction to, this theres questions about why this meeting was set up in the first place and now, you know, why we didnt know that they were going to, you know, take responsibility for another attack on the day that theyre supposed to be having a meeting with the president . Well, the reality is that, you know, prior to negotiations beginning almost a year ago, the taliban issued instructions to their fighters to kill as many people as they can to increase the level of activity against the government, against u. S. Forces and nato forces, all with intent of increasing negotiating table, i think the president made the right call, lets end the talks based on the basis that that are currently structured for, i think actually what we have here, maria, we can reassess and reset, i think theres a new opportunity here to set a different strategic framework for the talks, what am i talking about . Lets not have the talks unless theres cease fire, we avoid what took place with soldier being killed and innocent people, the second thing we clearly want to do is lets not hide the timetable driven, pull out of u. S. Forces and announce that, that was going to be part of the deal, lets not make that based on conditions and go step by step on whats taking place, the third thing, maria, the pakistanis under new leadership, they are telling us that they dont agree with the moves the predecessors made and they no longer want war and want stable afghanistan. The other thing is the elections are coming up in afghanistan, lets bring the newly elected president , likely gani, no taliban and talk to him about a pathway forward and what he can do also to enhance the peace process, this is a new opportunity and lets seize it, lets take it. Maria what about israel and iran, actually, netanyahu says they found nuclear site in iran calling on u. S. To ramp up pressure on iran, the foreign minister on iran rejecting the claim, the processor of real nukes cries wolf. I suspect iranian here, no one is surprised that the israelis or the United States or even the un nato found a hidden nuclear site, thats clearly what we have discovered in the past, two secret sites actually provided to us by iranian informants, remember, we had the jcpoa and one of the conditions the United States tried to establish in nuclear deal was anywhere any time inspections as we go forward after an agreement. Iranians ball so if we go forward with a nuclear deal, this is a what should be established with the Trump Administration and the iranians and that is no Nuclear Weapons but anywhere any time inspections, its absolutely essential because the iranians cheat and they lie about it. Maria all right, general, we will be watching that one, good see you, sir, thank you so much. Good talking to you, maria. Maria futures pointing down off of the lows, dow industrials down 135 points, slowing growth, keeping investors on edge, whats moving markets this week, we, of course, have the Federal Reserve next week and ecb, girl power on game night has latest version of monopoly, highlighting gender pay gap, new monopoly. 300 miles an hour, thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. 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Maria welcome back, good Tuesday Morning, im maria bartiromo, it is tuesday september 10th, top stories right now 6 30 a. M. On the east coast. Markets are lower this morning, futures indicating decline of about 30 points on dow industrials, s p down 4 and nasdaq lower by 16 after modest move yesterday on wall street, dow was up for fourth session in a row, up 38 points but the s p and nasdaq was down slightly as you can see there, Global Market this is morning look like this, european indices this morning, we are looking at declines there as well, ftse 100 down 8 points, dax index in germany down by 12, in asia overnight markets finished mixed. In china fell eight tenths of a percent, worst contraction, thats due to swine fever outbreak. Boris johnson says he will try to negotiate a deal to leave the European Union in time for the october 31st, deadline, the very latest on the trade talks there. And ford under pressure this morning, the companys Credit Rating cut to jump status, raising new questions of new turnaround plan, stocks down better than 3 , beyond the pizza robot, zoom expanding business and focusing on Sustainable Food making supply chain smarter, Meredith Whitney is here to talk about that, closing the gender pay gap, new version of monopoly out giving women a head start, we are going to check it out, all the stories coming up Tuesday Morning, first top story this half an hour, growth concerns keeping investors on edge, the s p 500 peaked in late september last year, only to decline nearly 20 over the until 3 months, ubs americas president , head of Global Wealth management tom, tom, good to have you, thanks so much. You conducted a survey with Business Managers right after the second tranche of tariffs went into effect on september 1st. Thats correct, whats fascinating about this, this is a group that we surveyed 17 times since the election and this particular survey was the first one that showed a break in their plans in the future about hiring and also about investing in the business. Maria thats important because when we start seeing hiring numbers get impacted thats when the president needs to start really explaining the link between his trade policy and what its meaning for the broad economy, we have seen a bit of a slowdown, do you think because Business Managers are sitting on cash or begin to go beginning to sit on cash and waiting and they dont want to make a move because of uncertainty on trade . Its small Medium Enterprise owners and if you look at the group in terms of the plans, you look at net hiring numbers, if you go back to june, the number was roughly around 39, 39 point differential in terms of hiring, it was 20 points in the latest survey, clearly a decline on where we were, the most striking part of what we saw when we posed the question if the trade war to continue at an escalated pace for another 6 months, what would your plans be, the plans dropped almost to 0, only plus 4 number. Thats quite dramatic because that would be the lowest number that we have seen since the election. Maria they see impact on trade war as being negative for the economy, but limited for their business . Yeah, its really, you know that makes some sense because youve got a group of Business Owners that are Service Industries in the u. S. , theres some that dont have supply chains that are better located in china, so thats a logical answer, but what they are anticipating is what the impact on the consumers who buy goods and services. Maria i see net hiring and investment plans are down, potential that the plans go lower if the trade war continues, what does this mean for putting money to work in terms of your Global Asset Management business, what do you want to tell clients given you have this new information about Business Managers and what they are going to do . We recently went to under in equities, that was not a wholesale sale of equities, what we decided to do take a few chips off the table, we actually under waited equities and put to overweight in stock index. Maria are there areas that you think can still do well and place to hide as you see this scenario with trade . The consumer is still healthy and we think that the consumer is one that exposures and clients and investors should consider, again, its the old adage, maria that you well know of, its time in the market and not timing the market. Maria in terms of the u. S. Versus europe versus merging markets . Underweight the u. S. Maria under weight the other the right way to think about this, we titled this particular survey as warning signs, if you look at the advice that this group has for the administration on trade, it is to get a deal, an imperfect deal is better than no deal. Maria i have an issue with that that these are the managers that will see product stolen, intellectual property stolen, the bigticket items that the president is talking about, whether theft of intellectual property, forced transfer of technology, you are saying Business Managers are okay, i mean, i think for a long time ceos were so interested in getting their products in front of 1. 4 billion people in china that they forgot to protect them, now, the president has outlined the issue quite well. So this group is very supportive of the president s position on trade, 55 support the president s on trade, they support a harder line in the negotiations, however, theres a certain point where they dont want this expanding for a longer period of time, so its get some con decisions and then move on to the next. Maria warning signs, what are the warning signs are of rate moves, Central Banks across the world, stimulating, ecb to announce stimulus measures this thursday, the fed decision on rate cuts next wednesday, what are you expecting from the central Bank Stations and whats the impact on markets from your view . So supporting our position on on an overweight equities u. S. Would be the prospect of further easing from the fed here in the u. S. And also the backdrop of Central Banks elsewhere including ecb. I also think to some extent you see Central Bank Policymakers trying to anticipate some of the things that are coming out in our survey which is if you see that this potentially could be an impact how do you make sure we have buffer to continue expansion. Maria so you recently went through underweight on equities, Global Equities but overweight on the u. S. . Thats correct. Maria in terms of rate cuts expecting 25 basis points next week, is that price intoed the market, do you think we will get reaction from the investors. The action itself is priced in. You to read the statement. Maria you dont think that indicates recession right now . No not at all, what we would say is the likely outcome of progress even on Something Like this thats important for administration, u. S. Canadamexico agreement that would show theres positive signs on trade overall fanned we get positive signs on trade overall thats something that could actually give Business Owners some ability to believe that its worth waiting for a further deal with china. Maria not just china its trade in general and Business Owners will rank mexico, canada, japan and china all equally in terms of importance. Maria mark them equally because mexicocanada trade is 1. 1 trillions, china trade 500 billion, its more important to get usmca passed as soon as possible. Absolutely. Maria tom from,ub, is this morning. National Rifle Association charges that the label is equivalent to blacklist that violates freedom of speech. Its lawyers are arguing the move intend today, quote, remove nra from gun control debate, San Francisco not budging, urging other cities, states and even the federal government to follow claim in calling them a terrorist organization. The Dallas Morning News reports Southwest Airlines looks to compensate employees as it asks boeing to pay for the 737 max problems, southwest losing about 180 flights a day since max was grounded back in march, now its looking to give employees a cut of the compensation it gets from boeing for profit sharing, and the boston globe this morning, boston gives kindergartners 50 hours and the city depositing money to Kickstart College savings to initiative, families can also make contributions, the accounts would be available when student graduates from high school and also be used for job training courses, all right, we will take a short break, the automakers bond rate asking downgraded in restructuring plan, stock is down better than 3 , more on that coming up. Keeping food out of the garbage, zoom to go stem the food race problem, connecting restaurants with splui suppliers, we will talk to the cfo coming up. I knew about the tremors. 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We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Maria welcome back, brexit uncertainty, british Prime Minister Boris Johnson suffering another headback, cheryl. Cheryl thats extending from parliament, block on Nodeal Brexit and johnson has told parliament it can tie its hands but will not delay an exit from the eu, the parliament has now been suspended until october 14th, over 2 weeks before britain is due to leave the eu. Well, back here at home ford bonds rating, moodies lowering rating on automaker, moodies did say that ford has Balance Sheet and Liquidity Position for which to operate and underlying business strong, Balance Sheet is solid, taking a look at stock on premarket,s it is down little more than 3 right now, and then theres taking on gender pay gap with new classic version of its game, ms. Monopoly, a number of changes to original, wifi is going to replace water works and another, women are going to make more than men, already available for preorder through walmart and set you back 19. 99, this gives a whole new word, whole new meaning to the word ladies night. Lots to think about. [laughter] maria i want to play it. Cheryl i do too. Thank you. Monopoly . Monopoly . I love monopoly. Even like sorry, i will play sorry. They do this periodically like they have a new interesting take, people are interested in playing. Maria a lot of different versions of monopoly. [laughter] has separated from matel and matel is the barbie doll company and problems in the past, i wonder how its becoming girl power toy company, taking advantage of this advantage over mattel. Maria i see what youre saying, yeah, yeah, lets see. Quick break and then juul on hot seat, how ecigarette Companies Advisor vises, who is calling the bans, focus on Sustainable Food making supply chain smarter, Meredith Whitney is the cfo and she will join us back in a minute. Maria we are taking a look at sustainable eating, zume best known for robot. Using consumption data, Meredith Whitney, wellknown analyst during financial crisis with 2007 report another other among reports, good to see you, meredith. We go way back. Maria happy that youre back with us, tell us about zume. I got to zu ume in april, like you said before, Robotic Pizza Company all the while working with every Major Food Company in the world and its been wildly exciting, so its very solutionoriented in terms of helping restaurants get closer to their customers, better product, we know that the only growth in restaurants is delivery and delivery option is not always excellent for restaurants because of margins and guys delivering are going too far or not bringing enough variety to the consumer and consumer is satisfied sometimes and not other times. We can use ai and data to get a better understanding of what consumers on demographic basis want and that cuts down on food waste. In packaging space, we have taken engineering team, design for elon musk for years and apply that to packaging and cracked the code with price parity and government one after another and g20 is on Aggressive Campaign events, we are providing the solution. Maria its another example of how businesses are going to be ramping up the money spent on ai, its such a difference, i think companies are not spending money on ai and increasing the investment there, they will be left behind. Negative situation people say ai would have lost jobs when in fact, in many cases enables, it enables older industries to get leapfrog to 21st century, everybody has a common desire to do better, to eliminate process to do what they can for the environment and through that in terms of you have an industry that has so much money and investment and legacy, the only option that they have technology, we can do a lot faster and what we are trying to do is systematic change and to do that we have to have many partners globally and with Old Industries possible. Dagen this company and what youre trying to do, eliminating single use plastic, in terms of the focus not just on the political stage on Climate Change in the private sector and not just in the u. S. But around the globe. Yeah, its 30 trilliondollar industry in terms of efg, in terms of what investors want to put to work in terms of environmental, social, governmental investments and the fact is theres not enough supply to meet the demand of money thrown into this and i happen to be lucky to work for somebody who was so ahead of the curve doing this, founding the company in 2015 and Management Team brought around him, we can actually do im highly confident we can do a lot to get this done and our biggest challenges, we dont have the capacity to meet the demand and we are running like crazy to to build up as much capacity as possible. Maria its ranked zume ranked top 25 startups to work this year and i know that the company, 375 milliondollar investment from softbank. Yeah. Maria last year. Last year. If you think of the stock analyst, so we have Chemical Companies in america that turn crude oil into Building Blocks of plastic and if im an investor im wondering are we near peak plastic, how viable are alternatives to plastic. When do i start thinking as investor we used the peak, do you see that . Well, plastic and packaging around the world is 900 billiondollar industry for food its 300 billion, and i can just tell you that Food Companies have every reason to want to be sustainable compostable, the compostable market for food is less than 10 basis points from the entire industry. Wow. Long way to go and whats presenting it has been the process thats been so cheap. Yeah. When you think really about the origin of the plastic industry, the 1950s, 1970s, it was so cheap, but it takes a company and a group of people that is not from the Packaging Industry that says, well, lets just create a price parity, plastic parity option. It would be inconceivable for most companies to be able to come up with this but the market share, its like beyond meat, alternative to protein Meat Consumption is 1 of the entire protein consumption and we are 10 basis points of the entire packaging. Maria wow, great runway ahead. Meredith, good to see you. Thanks for having me on. Maria focus on china trade this morning, President Trump doubling down on effects of tariffs on chinas economy, georgia senator david perdue will join us next. Wendys in the morning, fastfood chain ready to put breakfast on the table, thats right near mornings with maria, stay with us. This is the age of expression. Everyone has something to say. But in a world full of talking, shouldnt somebody be listening . So. Lets talk. We are edward jones. With one Financial Advisor per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. 2,000 fence posts. Ales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. [ soft piano music playing ] mm, uh, what do you do for fun . Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. Maria good Tuesday Morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, september 10th. Your top stories, 7 00 a. M. On the east coast. President trump doubling down on the china trade fight. He is touting how the tariffs are hurting chinas economy, plus the need for a fair deal for the United States. Im speaking with georgia senator david perdue coming up. He was in china last week, held a meeting with chinas vice premier. Markets are lower. Were at the lows of the morning, dow futures down 47 points, s p down 6, nasdaq lower by 24. This after mod oft moves yesterday on modest moves yesterday on wal wall street. The dow was up but nasdaq and s p were slightly lower at the close. Global markets, its a down day across europe. Fq100 down 19, cac in paris down 25, dax lower by 8 points. Well hear from the ecb on thursday, well hear what plans for stimulus are in the cards. In asia overnight, take a look at the indices there, it was largely a higher opening. Shanghai composite was in the negative column. The Producer Price index for china fell 8 10 of a percent year over year, the worst since august of 2016. The price of pork is up 47 year over year due to the swine fever outbreak in china. Juul is on the hot seat, the vaping giant called out by the food and Drug Administration for marketing its products as being safer than cigarettes. More states are looking to curb use of vaping by minors. A lot of issues around that. Safety issues. Plus, it is apples big day. The Technology Giant set to announce new iphones today. Well take you to apple park, get a look at what to expect. The fast food wars hit the breakfast table, details on wendys big bet on breakfast. Brecbreakfast. Joining me to br, Dagen Mcdowell, a ti a ana lowe and jack ho. Good to see everybody this morning. Whats on your mind . Dagen breakfast. [ laughter ] dagen hash browns, maria bartiromo. Maria i thought you were going to say brexit because thats also on our minds. Dagen the market, the economy, i was reading an article that was in the wall street journal about going back to 1928, the s p has fallen on average only in three months of the year, september is the worst month of the year going back to 2 back to 1928. Theres a concern will we see what happened last year. Maria september is always a tough month. October we have the big selloffs in october. I have no doubt that the market is headed higher from here because the stocks are still such a good deal relative to bonds and everything else. The problem is, when you think about the amount of stimulus people who are looking for stimulus right now, think about it, the fed funds rate is less than half the historic average. The federal government is spending a trillion dollars more than it brings in in revenue. Thats massive stimulus when the next economic downturn comes, i dont see it in the immediate horizon, but when it comes, how much will we have left to boost the economy . You know what i mean . How much dry powder are we going to have when the next recession hits. Maria weve got rates where they are right now, theres not a which bel wiggle room, unlesse germany route. Dagen the reason that you have such low rates around the globe in terms of those set by Central Banks is because of i the high debt levels that these nations and the United States is falling into this camp, because of these giant the giant debts that they accumulate, particularly in the last 10 years or so, we cant handle higher Interest Rates and what kind of drag is that on the Global Economy longhaul . Were going towards a crisis. Were not in any Major International conflicts. Maria its interesting the markets dont seem to be worried about that. Theres 22 trillion in debt. The markets worry about it until they worry about it. Dagen more and more people are coming up to me on the ground, these are hard core country voters, asking about it. Maria they want fiscal discipline. Dagen right. Where are the conservatives . Youre supposed to be conservative about the debt and the deficit. Maria wheres the fiscal discipline, republicans . Coming up this morning, Arkansas Attorney general is here on the big tech antitrust lawsuit, what might we see coming out of the lawsuit. Former deputy National Security advisor for President Trump, kt macfarlane is here, along with Kurt Knutsson on the major a ape event today. The top story this hour is china trade negotiations, President Trump takes aim at chinas abusive trade policies, doubling down on his promise to secure a strong deal for the United States. China has taken advantage of our country for decades. They stea steal our intellectual property, so many other things. Now its different. Now its working the other way and tariffs are a beautiful thing when you know how to use them, theyre a beautiful thing. Were going to be talking next week. Were talking now. Theyre going to be coming to the United States in two or three weeks and well see what happens. But unless were going to make a good deal or a fair deal for our country, lets face it, we cannot go back to a situation, were giving hundreds of billions of dollars to china becomes standard fare. Not going to happen. We cant do it. Maria this comes as both sides work toward a truce with the next round of facetoface negotiations likely early next month, early october in dc. My next guest just returned from china where he met with top trade negotiators. Joining us now is georgia senator and former reeboks and Dollar General ceo, david perdue. Thank you for joining us. Good morning, maria. Maria we want to talk china with you. Youve got a unique perspective, as a current lawmaker and the former ceo of retail giants that were in china, likely to get affected by the tariff fight. Youre just back from china. What have you learned . Well, senator danes and i were over there last week as a part of an ongoing effort to develop a relationship with r their National Peoples congress. We met with their chairman and vice chairman. The next day we met with the trade rep, leo hu as you mentioned. We said this president is very serious and has bipartisan support in congress to get a level Playing Field with china. The perspective here is that we have a new Free Trade Agreement with south korea under President Trump. We have japan with an agreement in principle. We have an usmca that if we put it before the house and today it would pass in my opinion and we have europe in here. China is really moving i think to develop a more level Playing Field. Its a serious conversation and its going to be ongoing for a while, im afraid. Dagen senator, its Dagen Mcdowell. How long is a while . Theres an election coming up. Not today, in North Carolina, but im talking about next year. Well, obviously the big picture here is that weve got to get a president into a second term to deal with what you talked about just a minute ago and thats this debt crisis that we have and we have to deal with the entitlement programs and mandatory expenses to do that. But i think right now what we see is an effort to get china to the table again and theyre coming back in a few weeks as you mentioned. Im hopeful that well see some progress. Look, we have already made a lot of progress with china in terms of equal access. What we have is some difficulties with regard to intellectual property rights, the forced transfer of technology, the cyber war, and the compliance with the wto. These are reasonable requests that President Trump has. Isnt it high time that some United States president stood up to china and said look, we need equal access here and a level Playing Field. Maria jack . Senator, if you had to guess i was one of these people who thought for sure were going to have a resolution before the 2020 election because the president cant going to want to go into a campaign with this hanging over. Now it doesnt look like that. Are we talking years this could drag on . Ill let a career politician make a prognostication about that. This is a deal that can be done. We have two sides that are not exactly on the same page yet. Youve got to respect the chinese, theyre the largest developing economy in the world. They he see us as the largest developed economy in the world. I worry about longterm intentions that china has disclosed over the years many i believe we could get an agreement in part before next year. Our negotiators are finely in tune to this. I think secretary mnuchin and ambassador are joined at the hip in terms of this negotiation. Im still hopeful by the end of the year we could see noticeable progress that we could disclose publicly. Maria theres china and then theres usmca and, you know, we know that usmca and the trade with china and im sorry, the trade with mexico and canada is more than a trillion dollars. 1. 1 trillion. China the trading is 500 billion. So congress is back in session with a big to do list. Obviously it feels like the mexico, canada situation is even more urgent than the china story. 11 trade groups including the he Semiconductor Industry association and the Internet Association are urging lawmakers to pass President Trumps deal with mexico and canada, its a top priority for republicans this fall. Its stalling in the house. Democrats are delaying the vote. What are you going to do . Maria, youve got it. This is nothing but pure politic. This is a deal that got everything the democrats juaned for the last decade. Strong rer labor requirements, stronger compensation requirements in mexico, mexicos already ratified it. Canadas in the process right now. I believe if we put it on the floor of the house and senate it would pass today. Americans want this. 68 billion increase in gdp, 176,000 he potential new jobs. This is a good deal, better than nafta that were under today. I cant see anything but pure politics is keeping this from being passed today. Senator, i have one question. You talk about this president needing to be reelected. Right now, we know the trade war is obviously hitting china more than its hitting average americans, for the average american its going to cost them about 400 this i dont remember. But what if that does uptick before 2020 . What then . You know, in my state soybean farmers have been hurt really bad by this tariffs. Theyre the strongest supporters of this strategy and heres why. Because everybody sees the longterm reality of a level Playing Field f we get a level Playing Field our exports go up dramatically. And you know, guys, if you want to continue to grow this economy north of 3 , which we have to do to deal with the debt, youve got to grow exports. And thats what this president s trying to do. Look, we had unlevel Playing Fields on most of our trade agreements for the last 50 years. Actually, since world war ii, because we were trying to help the third world develop. I lived in asia. Senator danes lived in asia. Thats one reason why were trying to play a small part in helping this dimensional relationship with china. But this is a longstanding issue of our own making. Dagen sense r tore, really quickly senator, really quickly, do the farmers need and will they get another bailout from the federal government . I think there have been two, north of 25 billion total, if my math is right. Do you think more money is headed their way . Well, well see. I mean, the best thing that could happen to farmers is the Commodity Prices would rebound. We have the lowest Commodity Prices in years and thats really devastating right now not only in the southeast but the midwest as well. As well as california. So well see. I think the president has moved judiciously so far and he stands ready of to back our farmers. We know this is a strategic industry, over half the gdp in georgia. The president s got his eye on that for sure. Maria all right. Well leave it there. Senator, its good to see you, sir. Thanks so much. Thanks, guys. Maria coming up, snuffing out ecigarettes, the fda issues a warning as one governor considers drastic measures. His agenda coming up on vaping devices. Watch out, mcdonalds and burger king, wendys ready to put breakfast on the table, the menu update after this break. All around the world. People want to be loved. All around the world. Theres no difference i get it all the time. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. Egreetcigarette maker juul facg more issues. Cheryl they claim the company ignored the law, marketing their product as safer than cigarettes. The company could face fines or other consequences. Also, andrew cuomo says he wants to ban flavored ecigarettes in the state. New york would become the second state to issue that ban, following michigan, which did so just last week. And former new york mayor Michael Bloomburg joined forces with campaign for tobaccofree kids, putting 160 million into a program seeking to end ecigarette use among young people. Pg e offering a plan to settle with wildfire victims. It puts 18 billion on the table right now. Pg e filed for chapter 11 back in january due to liabilities stemming from California Wildfires in 2017 and 2018, including novembers camp fire, that was the deadliest and most destructive in state history. Shares of pg e down more than 50 so far this year. Been a heck of a year for that company. Amazon hosting a huge hiring event next week. Theyre going to be looking to fill 30,000 full and parttime jobs during the career day in six cities. This will be september 17th. Amazon hosting job fares in arlington, boston, chicago, dallas, nashville and seattle. Shares of amazon in the premarket slightly down, maria, just about a fraction right now. And then finally, it is morning, it is breakfast time. How about waking up with wendys. The chains bringing back the breakfast menu. Theyll spend 20 million to add more items to the menu and extend hours at their restaurants. Some of the new items include a bacon breakfast sandwich, a chicken biscuit and this one, a frosty shake made with coffee. So you get sugar and caffeine all together. Right now wendys offers breakfast at 300 locations. They cut their full year earnings forecast, thats been weighing on the stock, its down almost 9 right now. Maybe bringing the frosty with chocolate included is going to be the ticket. Ill let you know because im so going to go get one. Maria good idea, talk about breakfast when you just cut guidance and stock is down 9 . Thats a good strategy for wendys. I do like the breakfast idea. Take it from a fat guy, the if youre starting your guy with a milkshake, youre not trying hard enough. You can make a better effort than that. [ laughter ] even you i do. Dagen what do you think the frappuccino is . It might not be a milkshake but its got the calories of a milkshake. People are Walking Around with the frappuccinos in the morning for breakfast. Maria yeah. Its fantastic. Dagen does a body good. Even though inchain restaurant dining is going down, now the fast food wars are all the range. We saw it with chicken sandwiches and now with the breakfast wars. Maria but the stock is down 9 right now. Is that an indication of the consumer or is that that a wendys problem . I think its gotten very competitive. Who do you have to know in this town to get a chicken sandwich at popeyes, by the way. I think its a tough environment out there for wendys. Maria quick break and then central bank in focus, futures are down this morning as investors await key decisions from the Federal Reserve and the European Central bank. Ecb coming out with news on thursday. Market impact right after this. Monday night thriller, highlights from the saint, texans game, the last secretary heroics, come last second heroic, coming up. Can you hear me now. Get the message through. Calling america. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. That could allow hackers devices into your home. Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Maria welcome back. Markets this morning are lower. We are awaiting key decisions from Central Banks, this week and next week. The Federal Reserve will meet on september 18th. Investors are waiting to see if a rate cut will happen. Joining us right now is wealth management, eric freedman. Thank you for joining us. Great to see you. Maria what are you expecting on thursday from the ecb and lets talk the fed, its not just the fed, weve got, what, four Central Banks making decisions this month. Theres a lot, abs lieutenantly. This week ashes lieutenantly. We think the absolutely. We think the ecb has to come in with a big number. Looking around them, they see a lot of Central Banks north of 15, 16, who have taken policy action the last couple weeks. And so the ecb because they have more of a stagnant meeting schedule is a little behind the curve if you will so we think theyll be pretty aggressive with a package that likely will catch some waves with investors, then with the fed, we think the fed is likely to be more pragmatic, probably 25 basis points and really all eyes will be on the messaging afterwards. So we do think the fed even though they said its more of a midcycle pause, if you will, more of a midcycle adjustment, i should say. We do think markets are probably driving more of the feds behavior than theyre willing to admit. Those are the two things were looking for the next couple weeks. What are the chances we see negative yields, negative yielding 10 year treasury in the u. S. , obviously not right away. Arent we medded towards that path, where the negative yields around the world pull our yield down that low, to prevent capital from pouring in and strengthening the dollar too much. We dont p think negative Interest Rates in the u. S. Are likely. One of the comments that you appropriately made in the last segment was about what were seeing with debt to gdp ratios. So we do think that while there is a natural graph stational pull of graphi we look ath in terms of deficits out the next five, 10, 15 years, thats probably more of a tug northward. We think 1 would be the line in the sand for now. Were at 1. 6 right now. Theres a lot of room to go. If we were to see negative rates. But we would have to see we think more of a push toward 1, on decent volume which, again, for us is a low probability event. We dont see negative rates anytime soon. Again, mostly because of the concerns about longer term deficits in the u. S u. S. Maria well leave it there. In terms allocationing capital remarks does that mea,what does . Do you want to buy stock. We do. Were out of corporate earnings and so most of the things youll hear, like youre hearing this morning are preuse nounsments on the negative side. We think that expecting some lighter macroeconomic day that that we would be buyers on weakness here. Maria well leave it there. Thanks so much. Thanks so much. Maria all eyes on apple this morning, they unveil new products today including the iphone 11. Well take you live to apple park, get all the news this morning. From down and out to an american success, one entrepreneur turning his love of Fried Chicken into a thriving business, his story, made in america, coming up. Its friday night freedom. Football game. Proud waving strong as your last name. At fidelity, we believe your money should always be working harder. Thats why, your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Award winning interface. Award winning design. Award winning engine. The volvo xc90. Our most awarded luxury suv. Were changing whats possible every single day. But what does changing whats 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, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, september 10th. Your top stories, 7 30 on the east coast. Its apples big day today. The Technology Giant set to announce new iphones. Well take you live to apple park, get a look at what to expect from apple this morning. Markets are lower, take a look at futures, a decline at the start of trading. The dow industrials has come back, its now exactly where it closed yesterday at 26,837. Its just fractionally moving. So were seeing a major comeback this morning with the markets coming back from the lows after modest moves on wall street yesterday. The dow was up for a fourth session in a row yesterday. The s p and nasdaq edged lower. Global markets this morning are mostly lower. Take a look at european indices. The fq100 slipped into positive territory, up 5 points. The cac in paris is down 5 and the dax in germany is up 39. So its very much a mixed story in the eurozone. Asian markets this morning mostly higher. In china, the Producer Price index is out for the month of august, it was down 8 10 of a percent year over year, the worst contraction since august of 2016. The price of pork is soaring. Its up 47 year over year due the swine fever outbreak in china. Ubers road ahead, spending 200 million in chicago, as Ride Share Companies head toward a major speed bump in california. David ortez big return making his first public appearance since being shot, where else, fenway park. An exciting monday you day night football, a winning play with seconds on the clock. Wait until you see this. All the highlights coming up. Our top story this half hour, apples big event today, the company is expected to announce three new iphones. Joining us now is the cyber guy, Kurt Knutsson, to talk about apple. Hi, kurt. Good morning. Were here at steve jobs theater at apple park. Behind me, thousands of people, mainly from the media, will pour in there to see a brandnew iphone. Is this it . No, this is the newest phone to me which is about a year old. I asked myself, how would they improve this so it would get a consumer to buy a new phone at this point, especially with the price point near 1,000 and passing it even sometimes. So what if you could put three cameras on the back, a wide angle lens, telly photo lens and another lens, what could that mean . It could open up a door into augmented reality. It could be 3d capabilities that go with the phone. All speculated rumors at this point. The names of the phone, three of them, iphone 11, the excuse me. And the 11 pro and 11 pro max expected later today. Theres a rumor the entry level iphone may come in a variety of colors and also how would i make this better . I have a scratch on here. Apparently, leading rumor is they have developed the glass on the iphone to be much more scratch resistant as well as more water resistant, even though this is waterproof to some degree. Other improvements, faster processor, the a13 and a coprocessor which could be the secret sauce, code name rose, it works together with the battery and processor allegedly to bring about super long battery life. We could be hearing about that later today as well. Dagen kurt, its dagen. I wanted to ask you about hey, dagen. Dagen the 11, im looking at at the so the 11, the 11 pro and the 11 pro max, is there really a need to differentiate the phones and get a little bit more granular if you will . You know, i think what youll see in the pro max is the larger format phone and then youll see the camera set that is going to be the big, big news here. So apples got to do something to get us excited. The cameras are apparently it, along with what i would imagine would be a developer kit that goes along with creating augmented reality. It is easier for makers to make things to engage with the phones. That typically is where the money comes in, the advancements. So youre going to pay more for the more space, the faster processor, longer battery life, larger phone and then the chassis on it is likely to be glass and who knows what on the lower end model. Kurt, i want to run a theory by you. You tell me if im wrong. Most people get a new phone every they used to do it every two years, now theyre pushing three years. People looking at the upgrade, theyll say better camera but my cameras already pretty good. Better screen, but my screen is pretty good. The next thing i want to hold out for is whatever 5g will mean for the world. So therefore, i want to skip the upgrade and wait for the 5g phone a year or so from now. That could spell big trouble for apple. How profound will that camera set be, how profound will the duration of battery life be, if they really nail it and if you can make a phone where i can throw it around and it doesnt scratch or smash, maybe that compels me to get into this generation. But youre right, 5g is not in this chipset but it will be in future phones. You can count on it. Apples made sure of that. But theyre a little late to this game. Keep in mind also, were fooled into thinking that 5g is everywhere in america. Its not. Its in the very minute pockets still at this point. So that robust next generation wireless that were hoping for is still yet on the infrastructure side, a little bit ways out where you can rely on it just about everywhere. Dagen i dont even have cell service between my parents house and richmond, virginia. And thats a two hour drive. And theres zero cell service. Have i suggested a cb radio to you . Dagen as if i dont have one. [ laughter ] maria i was going to say that. There arent any 5g phones on the market by the way and i am being told that the first real 5g situation that were going to see is enterprise. Its not going to be a Consumer Product right away. It will be more enterprise buying into 5g. So well see. At t says its calling it evolving, you know, its advertised, the marketing is all evolving. Its a marketing spin. Maria theres no 5g phones on the market. Ive got to ask about the antitrust probe into some of the companies. Google facing an investigation for 50 attorneys general of potential monopolies behavior. The key issue that people talking about is whether google a abuses market dominance in online searches and advertising. Didnt we see that in the 2016 election where if you Googled Hillary clinton that you got all these stories about her. When you Googled Donald trump, you got he was the most horrible person in the world. The way they put their searches when you search for something is being looked at. As well as how they finish the search, if you notice, when you begin to type how it will suggest a search for you that can lead you to a negative path and an outcome or pro or positive path and when you see these 50 u. S. States led by ken paxton, the attorney general for the state of texas, hell be leading the charge. This is an enormous concern for google and all Tech Companies in Silicon Valley, to he see all this unified action from states against Silicon Valley and the idea of the monopolies, i think theres a thought now that Silicon Valley has just gotten a little bit too big for their witchebritches and theres not t of room for mom and pops to innovate and enter the march. Maria kurt, thank you so much. Well be waiting for what apple comes out with. Coming up, ill talk about Leslie Rutledge about the antitrust investigation. Stay with us on this google story and the investigations into antitrust behavior. Uber announcing the latest investment in chicago along with plans to hire 2,000 new employees over the next three years. Its not all good news. Grady drum bell i tremble is lio with the news there. Reporter the Chicago Office will become ubers second largest in the country, behind San Francisco. Uber has 1,300 employees in chicago. Most of them work in freight. Now the company is adding 2,000 more jobs here over the next three years. Theyll be focused also on uber freight which links shippers with trucking firms. In a statement, ubers ceo says it plans to invest 200 million a year here, adding chicago is the heart of americas transportation and Logistics Industry and theres no better place to continue to grow our teams and open our dedicated freight hq. Separately, the bump in the road for uber, lyft and other companies that rely on independent contractors, they could take a huge hit this week. California lawmakers are expected to pass a landmark bill that would classify ride share drivers among other independent contractor as employees. That would mean theyd be entitled to benefits and a minimum hourly wage. Democrats including some of the president ial candidates support this move, saying it protects workers. Many drivers are rallying behind it too. But the Ride Share Companies say that this could cost them big money, up to 20 to 30 increase in their costs. Californias governor, hes already said he plans to sign this if it passes, which looks increasingly likely. And theres a wide ranging impacts for this because other states will likely follow suit if california passes this bill. Uber and lyft stock have slumped in recent weeks, partly on news of this. Ride sharing companies are diversifying, going into other Industries Like freight. Part of the reason for that is government regulation, as well as the fact that they are still not profitable. Dagen . Dagen thank you so much, grady. Coming up, an emotional night in boston, david ortez throwing out the first pitch in fenway, his first public appearance since being shot. Plus, made in america, our next guest turned his love of chicken into a deep fried success story. Stay with us. And ill be taking care of business. Every day. Taking care of business. Every way. Ive been taking care of business. Its all right. Taking care of business. And working overtime. Can i get some help. Watch his head. Im so happy. Whatever they went through, they went through together. Welcome guys. Life well planned. See what a Raymond James Financial Advisor can do for you. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Watch them feathers fly. Maria welcome back. Its called new york citys only all American Food truck. This is Yankee Doodle dandy, becoming one of the most popular food trucks in the area. Joining us now is josh gatewood. Thank you for being here. Here we are in the rain. This truck is gorgeous. I see you a lot. Well, when you have rain like this, does this cut into business . The rain kills the food truck your. Youre catccapturing whats wroe food truck business. Maria tell us your story. I set out on this journey. I was short on capital. I was working on a boiler room, across the street the ne new Yok Stock Exchange and i was broke. But i was studying and was short of capital. But when i was in the room studying for my series 763 i was like what can i do other than this. The boiler room thing is done now. I came up with the idea of Yankee Doodle dandies. My direct ancestor was in the revolutionary war. It was our First National an them i wanted to capture all American Food, culture, and thats what i did. Maria wait a second. Go back for a second. You actually you won money on who wants to be a millionaire. Right. I was short on capital and my solution to my capital shortage was applying for who wants to be a millionaire, what any rational person would do. Maria that was amazing. I kept trying. I didnt get on. I would sit there on the seven p train, i want anything change my life. I moved in with my little sister, sitting on an air mattress, and i got the call, after i left new york. They were like josh, youre on the show on thursday. I was tearing up. I couldnt believe it. Maria you go on who wants to be a millionaire. How much did you win . I got on the show. I was super nervous. I got to the 100,000 question and so i had about 40,000 in my savings account or whatever and i went for it and i actually flipped the can of chewing tobacco. I guessed. I got it wrong. I got 25,000. On the show i said i was going to start restaurants in new york city. Its been my dream. Ive been working towards that tirelessly. I didnt win enough for a restaurant. I got a food truck. Maria you had the 25,000 to start the food truck. What were the big costs involved in starting up the food truck . I love the food truck business. I think its the most entrepreneurial business. Its interesting that its thriving in america. Its near and dear to me. It was a Second Opportunity to me, fresh start. Theres a lot of turnover because the city makes it very difficult to be successful. We get bopped with parking tickets every day. My truck on 46th street probably has a ticket right now. Maria youre constantly getting parking tickets. You get hit with 65 every day. They add up. Maria all right. What were the big costs . Buying the truck, really. Maria thats a big cost. You can buy a used truck, i built trucks, you know, theres a lot of different ways to get started. Maria what a long way from the boiler room. Yeah. Maria working in a boiler room. Tell me about the menu, how you came up with the ideas, how the food is. Its not just that you had to raise money to get the truck to start a business. Then youve got to deliver and then youve got to actually execute. When i went to college down south, being a northern i grew up in the north and i saw these chicken places down there and they were absolutely killing it and i had no idea why or how. So thats kind of where the idea came from. So i actually went down there, learned how to cook and came back up, bought the truck, put it in a food truck and its been going. Chicken tenders have a broad appeal. Everyone likes them. Maria have you always been a cook . No, ive just always been a businessminded person. Maria but youre cooking now. Yeah, and i love it. Honestly, i love what i do. I wish it was a little less stressful. Maria whats the big stress involved . Managing people, finding good workers, the parking situation. Ive been in fift fist fights fr parking in new york city. Maria tell me about the growth story. How many people work for you, how many trucks do you hope to get. I basically have three trucks right now. Like i said. It was my dream to get a restaurant. I was given my first lease for a restaurant so the dream is coming true. Ive got a restaurant location picked out. I made it happen. But america, im hoping for investment, if you want to make money, promote American Food, im your guy. Maria youre the American Dream story. Are you living your American Dream . Absolutely. I live with a couple from morocco who came leer, my buddy jusgot citizenship. When we started he didnt take money. He saw how good our food was and he stuck with me. A lot of people would have thrown in the towel. The secret to life is not giving up. Im not the smartest guy in the world but ill outwork anyone. If you believe in it, go after it, dont stop, youll get what you want. Maria i agree, hard work is the secret to everything. People underestimate the power of hard work. The food truck industry is soaring right now. Any thoughts on i that in termsf getting a foothold in an area or industry thats growing so much and youve got a ton of food trucks just on this street. Definitely. Im actually the president of the new York City Food Truck Association as well. I help people constantly. People call me and say how do i start a food truck and im more than willing to help them out. When i was going through it, nobody helped me. Its nice to have someone that they can ask questions, bounce questions off me. I dont know everything but i learned a lot of things and im still learning every day. Maria see drought the best chick secret to the best chicken tenders . The marinade, getting good quality chicken, keeping it fresh, never frozen, antibiotic free. Maria i can see why youre successful. I try really hard. Thank you so much. Maria congratulations to you. Josh gatewood there. Great story there. Were going to take a short break. When we come back, monday knight thrillers, highlights from the saints, ta texans matchup last night. All the heroics when we come back. Brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Maria welcomdagen big poppe, jared max, what a scene at fenway last night. Jared red sox fans probably thought they would see their team get eliminated from the division race. Instead, david ortiz, first public appearance since he was seriously injured in a shooting back in june. Red sox hall of famer, number 34, david ortiz. [ cheering and applause ] jared david ortiz throwing out the first pitch. Monday night football, saints and texans in new orleans. After houston scored a go ahead touchdown with 37 seconds left. They saints marched down the field for the longest field goal of his career. 58yard attempt for the win. Got it jared even with botched calls by the refs in new orleans, the saints su survived, 3028. Oakland carried less baggage without Antonio Brown onboard. Early touchdown, oakland beat denver, 2416. Did you notice the graphic during the monday night game early on . You see in the corner there where it says third and 15. The yellow color messed with football fans minds. Were used to thinking thats a penalty. Espn made a change because in the second half as adam shefter noted a change was made because the new graphic was lifted. Espn heard the feedback and they acted quickly. A lot of times twitter may be just a place for the gallery to be barking at the moon. This time, they barked and they heard and a change was made. How about that. Dagen makes sense. Totally. Jared max. I know Donna Brazile is very happy about her saints winning. She was tweeting about it last night. Maria is that right . Jared, well catch jareds sports reports on fox news headlines, 24 7 or sirius xm 115. Leslie rutledge on the google antitrust investigation, next hour, mornings with maria. Were back in a minute. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. You know, baker, i can help you with with that. Oh, no, its fine. Thanks, though. A man should cut his own lawn. [ lawnmower engine rattling ] [ engine starts ] thand find inspiration who win new places. Ct. [ lawnmower engine rattling ] leading them to discover were woven together by the moments we share. Everything you need, all in one place. Expedia. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Maria good Tuesday Morning. Thanks so much for joining us. Im maria bartiromo, tuesday, september 10 top stories right now 8 00 a. M. On the east coast. President trump is doubling down on china trade fight touting tariffs are hurting chinas economy, also talking about the need for a fair deal with the United States. President getting prays for handling of china from unlikely source billionaire democratic support george soros writes oped in the journal praising the president s stance on china markets like this futures decline start of trading off worst levels of the morning dow down 22 s p down 5 nasdaq down 24 modest moves on yooet yesterday dow up fourth straight session s p, nasdaq they finished slightly lower Global Markets this morning european indices this morning mixed ahead of ecb meeting on thursday, ft 100 up 5 cac quarante down three dax in germany up 28, we have the European Central bank policy decision, on thursday of this week, in asia overnight markets finished like this o mostly higher exception of china in china you have lots of Economic Data Producer Price index for august fellow 8 10 of a percent yearoveryear worse since august 206 the Consumer Price index in china above expectations price of pork is up 47 year over year due to swine fever outbreak cpi up 2. 8 in china apples big day to on anies iphones today we are taking you live to apple park get a look what to expect from apple this morning, jeopardy on the go how you can play the game, alex trebek and all driving your car, all stories coming up Tuesday Morning joining me to break it down Fox Business Network Dagen Mcdowell, commentary writer with washington examiner, editor barrons is here. Not a lot happening in terms of macronews although Economic Data out of china was one, of course, we got all Central Bank News happening the fed next week september 18 ecb this week thursday any takeaways you are anticipating dagen on fed coming on thursday 8th i dagen Federal Reserve of caught quarter point we do have some data the report today term of job options you have a vast number of many more i think almost a million and half more job options than unemployed in this country cpi out later in the week, retail sales, to go right to the health of the consumer how much more we are paying in prices in this country because of tariffs interesting to watch. Maria the question is are we going to see an impact on through numbers about an economy slowing down over uncertainty over global slowdown or uncertainty around the trade conversation. But not going into recession slowing down the economy will look good not great stocks will move higher bonds are a at about bad alternative at yields retail numbers pretty good a bright spot bankruptcies store closings consumers spending we have too many stores. Maria important twothirds of Economic Growth joining the conversation this morning Arkansas Attorney general lesley is here on google antitrust case former incredible security advisory for President Trump, Katie Mcfarland on north korea, afghanistan Stuart Varney weighs in dont miss a moment a big hour coming up, President Trump talk up the economy, while taking a swipe at democrats, during a packed rally in North Carolina, blake burman plooifr at the white house this morning with details, good morning to you. Reporter good morning to you President Trump slamming democrats last night as he went to North Carolina ahead of todays special election congressional flex fayetteville area giving a preview as to what his message could be like at this point, next year, the president saying radical democrats want to dismantle destroy progress that has been made and said it wont take long, he also tried to link democrats to socialism. Democrats are now the party of high taxes high crime, open borders, late term abortion and socialism they are softists a vote for any democrat in 2020 for any democrat tomorrow in North Carolina is vote for rise of radical socialism destruction of American People. Poll from abc News Washington post shows president has convinceing to do steering economy in right direction 56 view economy positive light more than 43 view it negatively and marks a dive when it comes to trade 56 americans disapprove of the president s handling of the trade negotiations with china. While only 35 approve, confidence in the economy appears taking a hit as well, as 43 say the president handling of trade in the economy has increased the chance for a recession, only 16 see it is less than a chance about a third of americans maria say it mass nt moved the needle, 60 americans maria in that poll feel a recession is likely, at some point over the next year the same will say they are concerned that trade war with china will lead to higher prices, president s Approval Rating in that one poll from abc News Washington post dropped 6 points, Approval Rating down to 38 points. Thank you blake burman at the white house pushing back on big tech, 50 attorneys general from 48 u. S. States territories announcing a wideranging antitrust investigation into google, to probe largely looking at advertising practices what several had to say yesterday. While many consumer believe the internet is free, certainly we know from Business Products over 117 billion, that internet is not free. This is a company that dominates all aspects of advertising on the internet, this investigation is not a lawsuit. It is an investigation to determine the facts. Attorneys general car where rubber meets the road that is for the residents of their state, and consumers. We also care about businesses, especially small businesses. That may be locked out as a result of what may be monopolistic power. Most americans think it is free to google something. But it comes at a cost. A cost that freedom to choose the best products from best companies. The states not onboard coo alabama joining us Lesley Rutledge thanks for joining us this morning. Good morning. Tell us really what the big issues are from where you sit in this lawsuit around google. Because there is a lot ofs conversation whether it be the way they say they are algorithms deal with searches or the fact the company has 90 market share in search the other argument that they are actually censoring certain speech censoring conservatives because of their own ideology. Well thank you. I think it is important to note that this is an investigation. That right now we are 50 he attorneys general launched this investigation will go where factions lead us. Our concerns are with google being the only Search Engine juggernaut that it is has to do with whether or not we are adequately protecting American Consumers protecting free market in america to ensure that again google is not violating any antitrust laws as you noted aptly 90 market on online Search Engines. There is also this issue about google working with china, and i wonder what your thoughts are here, because i have been working a lot on Artificial Intelligence and looking at issues around a. I. , of course, we know google walked away from a contract project maven with pentagon did not want to be involved in anything it was used in military, that is Artificial Intelligence. Yet they are working with china, and theyve got a. I. Lab in beijing. Is there any way that chinese might try to infiltrate meddle in u. S. Election try to take trump down through google . Well, i dont think that we should underestimate any of our foes across the globe looking to infiltrate and impact elections to use American Companies to do so. Whether or not google would have a and in that one would hope not, we would ask they not, investigation that we launched yesterday has to do with dym advertising, of this company so we are going to remain focused on that however as a other issues arise whether google or another company we will certainly look into that work very closely cooperatetively with department. Looking at other companies not just google. Absolutely this is a beginning google is one that we are launched investigations yesterday however, it is i am pertive protecting all, the free market when americans search they understand as stated a search is not free. We want to make sure when we are looking for help with a sick child on internet late at night you are getting the best service bet advise not simply they woulds paid highest prides each every one of us look smartphones we are brought a are Super Bowl Ad to us poured by google. It is Dagen Mcdowell what are you going to find ftc did not google sufficed i think three multibilliondollar refines European Union ftc decided against suing google in 2030 found it was divided between making Innovative Products with clear desire to hobble would be competitors in words of the wall street journal so what are you as attorneys general going to find now that basically u. S. Government has not yet . Well, i think google would be first to admit quite a bit changed 120e7bs 13, it is 2019 perhaps Business Practices changed again this is investigation as attorneys general for states we will go where facts lead us so this is not an outcome determinetive investigation we are are simply wanting to protect American Consumer in doing so all right good to see you this morning thanks so much we will watch developments, coming up apple hitting the reset button giant expected to unveil brandnew version of iphone we are taking you go to apple park live getting a hook what to expect out of apple today big announcements then tick a joyride, with jeopardy fans can test trivia knowledge in the car back in a minute. At synchrony, were changing whats possible every single day. But what does changing whats 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, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Everyone has something to say. But in a world full of talking, shouldnt somebody be listening . So. Lets talk. We are edward jones. With one Financial Advisor per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. Maria welcome back, more evidence in deadly california boat fire investigation, Cheryl Casone on headlines. Cheryl federal agents say they have recovered a trove of information after they searched offices are of the diving boat company that owned the boat two days that information is Training Records business documents, that massive fire last week killed 34 onboard off Southern California coast, working to determine if captain boat owners followed safety requirements. Well, Elliott Management calling for major changes at at t activist shareholder vested 3. 2 billion dollars in that company says restructuring could boos stocks to more than 60 dollars a sheer by end of 2021 elliott says at t needs to be more like verizon competition aggressively cutting costs investing heavily in Wireless Networks across the world. There is the at t premarket read, up more than threequarters of a percent right now, finally there is this good news, trebek is back hosting another season of jeopardy being trade for stage iv pancreatic cancer. Jeopardy begins 36th season on the air, and i am happy to report i am still here. Still there, celebrate theyve anniversary new app, drive time can answer trivia questions from last 35 jeopardy seasons i know you are part of one season many years ago. Maria i was. But i was then i bombed hardly but it was so much fun to be on jeopardy. At that time at that time we he know he will yacht management took a steak in at t, at t hiring goldman sachs, the company is talking about the time warner ignition Elliott Management, your thoughts on at t. At t is not a total mess the phone business is quite strong, the tv business is a little bit of trouble especially the directv, losing skri subscribes the path is streaming i think going to announce plans to shift consumers from you know satellite tv towards streaming future but bottom line you get a dividend yield 5 and change at a time when 10year treasury is 1. 6 there is enough Free Cash Flow to support that dividend long term as investors become comfortable i think going to move into the stock. At t was the most the single most wild held stock in america, i dont know if still the case, in terms of but certainly very widely held in portfolios elliott saying the stock could go to 60. Well. That is what it said Elliott Management we want driveway the stock to 60 dollars i am wondering. You own stock you can go to what do you think about moves to get to 60 would that do it if it were to make changes in the time warner deal. Only move they need is stock bleeding direction tv show that no matter what you do in future that there is going to be the free cash to support that a Dividend Payment as long as i know that those dvrdz are dividends come comfortable with stock. I am sure that is right one of the key reasons people buy stock. Not for growth they want the income. Exactly, quick break apple getting refresh Technology Giant gears up to unveil brandnew iphone when you can expect on store shelves coming up then a new era for alibaba founder jack ma steps down as head of one of the largest ecommerce can bes companies we are breaking it down what comes next . Back in a minute. Regulataising a son raising a daughter all right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Maria welcome back markets in focus this morning futures indicating a decline start of trading down 28 points, really the news is going to happen later in the week ecb meets thursday Federal Reserve meets next week stocks back near record levels after turmoil, investors on edge over trade last year s p peaked, falling 20 rest of the year joining us federated investor senior equity strategists thanks for joining us. September can be tough month for markets, and we have seen the big blowups in october as well. What are you expecting the left of the year from this market . Well we you suggest we have had volatility through summer here have taken a break, lots of people are looking more and more positive we had some rotation last couple days more value oriented stocks that may be indicate that we have been oversold piled into defensive stocks now maybe going the other way things looking perhaps a little bit better we still think getting 3100 yearend insiding when you say things looking a little better we have uncertainty around twlaid from your standpoint is looking better. You know i personally think we blame trade for every good day and every bad day. Good point. I think, you know i think that really think that our administration would like to kick the can down the road much as brexit getting kicked down the road kicking the can down the road pretty much all market needs to say let me look over at earnings, what we are bullish about is earnings we think that there is no recession on the horizon we think there is as we make our way to the end this have year markets will say actually i dont see a recession next year we can continue to bid up this market on reasonable Earnings Growth maybe get that 18 p e might get us closer to 3300 next year if all goes according to plan. Go ahead. Jack from barrons magazine i could have sworn i heard you use the v word earlier value a about decade Growth Stocks have beaten up on value stocks with very low Interest Rates look like they are here to stay, why put everything in amazon netflix forget right now are we going to see return to value stocks any time soon . Well, the value stocks are simply rotation as we know market itself had gone up, out of growth into values short term potential rotation, that will unwind itself case overdone. I am not suggesting i think it is not time for all very buy value, in the midst of a recession when you think that there is enough that enough stimulus to get you out of the recession were not in a recession, you suggest we have been in growth regime sometime i see no reason to think that we wont stay in a growth regime, as far as value is concerned that type of value where you get high quality dividends stocks in search for yield anywhere that and up continue continues to work. Even where rates are not seeing any recession then . No. I dont see a recession what i see is a global deflationary bust potential in beautiful thing about United States consumer led economy go to any restaurant, and wonder how many people are debating should i buy that new pair of shoes i dont know how trade war is going to work out suppose they are there has to be a reason Central Banks are easing you got european Central Banks to finish latest policy meeting thursday many expecting a rate dut there stimulus measures there Federal Reserve meeting next tuesday and wednesday chairman powell saying fed will continue to act as appropriate to sustain the economy dagen you have Central Banks stimulating even if were not in facing off a recession. Dagen right, and but will it do any good, though . Particularly maybe you were talking about u. S. Consumer maybe u. S. Ask consumer doesnt need it with all this stimulus being flooding the world economy, with money, will it bolster these economies we talk about trade fight but we have, all the whole of europe struggling, will it help . Right, of course, europe i thought for many years europe is a basket case structural issues over there, cutting Interest Rates doesnt seem like it its going work hasnt really worked at all that is the deflationary bust that i am concernedabout in United States no reason to cut Interest Rates except for looking at what is going on around the whole wide world but there again i think we are just attached is to this story so very much what i see in terms of growth around the globe you may be slipping below 50 line demarcation or around it getting lots stimulus from china may help Global Economy maybe dont have a big trade war with europe things are okay, why are we panicking here with we need to keep reducing Interest Rates, more further negative territory . I dont think we even need to. So you are buying stocks . That is only placeing to yes particularly United States i said for sometime on team usa we like u. S. Stocks the Growth Stocks small cap growth looks really, really good, too. Maria all right we leave it there linda good to see you thanks so much. Thank you very much. From the federated apple rowsets tech giant sppd to unveil latest iphone we are taking you live to apple park a look what is ahead coming out of apple hit brakes ford Credit Rating downgraded this morning to junk where p automaker fell short coming up snow snhalaladida, are a teeday thats why, your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. 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Hey mom, can we get froyo . , yeah, froyo. Yes. The allnew 2020 Ford Explorer st. With intelligent 4wd and terrain management system. Its the greatest exploration vehicle of all time. Efficiency tuesday, september 10 top stories right now 8 31 a. M. East apple big day Technology Giant set to announce new iphones we are taking you live to apple park at look what to expect out of apple this morning markets lower futures indicating a decline start of trading at lows of the morning down just 35 points on dow s p down 6 1 2 nasdaq lower by 26, we are waiting on ecb on their Federal Reserve next week tuesday and wednesday, Global Markets this morning are mixed european indices mostly lower ft 100 down 11 cac quarante in paris down nine dax up 21 points looking forward to jooirn Central Bank Policy decision thursday this week that will move markets, in asia overnight, markets finished like this mostly higher better tone china was lower, the ppi for august fell 8 10 of a percent worst contraction since august 2016 price of pork soared 47 due to swine fever outbreak Consumer Prices in china up 2. 8 overnight north korea fired off two projectile missiles saying it is willing to restart Nuclear Talks with United States, alibaba founder steps down jack ma has given up title of chairman one of the Worlds Largest only retailers ford under pressure the company ed rating cut to junk status down better than 4 raising knew questions about ceo jim hacketts turnaround plan at ford, our top story this half an hour apple annual i felt phone event happening the giant expected to release new iphones with a watch wore things, susan li live in cupertino congressional good morning to you. Reporter busy out the here, maria good morning to you, too 4 1 2 hours big event kicking off, in apple park a crucially time for the Company Since we know iphone sales have been slowing what is next driver, one of the best companies in the world the event today so many rumors about seems like expected going to get three new Iphone Models on battery life maybe more water approving, hopefully in future upgraded cameras as well maybe we will get a new bigger, macbook water approve make apple watch looking for Services Apple has plan to services pick up from slack people are not upgrading i havent phones as much as they used to a pricing maybe on streaming service when will it launch has already given us more detailing we kind of one of the more bullish analysts dan ives says this is positive for apple. I think ultimately, this upgraded cycle is extremely significant for apple kurp tinigoing forward because you have a third of the install base 350 million users today that are in the window of up, up graded opportunity in terms of he Camera Technology pentup demand we believe this is significant upgrade street is underestimating. Apple hoping for that as well since we know there are 1 2 billion iphones around the World Installed base 900 million phones as we know apple, seems iphone sales slip in past quarters past year with china being a problem, caught in u. S. China trade war back to you maria susan thank you so much susan li in cupertino, Foreign Policy afghanistan President Trump speaking out yesterday on decision to end about peace talks with the taliban. We have a meeting scheduled was a my idea when i heard simply that they killed one of our soldiers 12 other innocent people i said there is no way i am meeting with that on that basis there is no way i am meeting they are dead as far as i am concerned. Called off meeting after group claimed responsibility for a car bomb attack that killed u. S. Sr. , member joining me former deputy National Security adviser under President Trump kt mac far lapd thank you so are joining us reaction. Sure absolutely called those talks off. Maria why scheduled in the first place. My assumption they thought they had a deal trump thought he had a deal unless a sign sealed delivered deal you dont do anything you go in United States with taliban particularly dont do it at camp david i think i ras right to ns kael it, number one let them think why this she think they have upper hand second thing, lets have them think but what lives going to be like when United States pulls out and we pull out all our aid they are going at with it each other Afghan Government every tribe. Do we want that to stoek even more upset and more you know, issues on the ground . Maybe the taliban wants u. S. Out . Of course, they do they wanting to at it look what is our interest i dont care about afghan, corrupt incompetent 20 years i kill about killing americans if the taliban says we should say taliban, do whatever you want . Kill each other that is fine make peace that is fine too but dont you dare kill americans in afghanistan, do not kill americans overseas certainly do not come and kill americans in the United States homeland dont let any buddies do it either because if that happens, you will not get another dime of american eyed under any circumstances any time any place we are coming after you oped in journal will trump sellout u. S. On huawei this is a piece by george soros, in the the wall street journal, and george soros basically praising the president i was surprised with this a detractor of the president a long time writes this will trump sell out u. S. On huawei writing the administration rightly declared beijing strategic rival placed huawei on Commerce Department intent list as National Security stlaet he prevents u. S. Companies doing business with huawei he appears desperate for a deal with president xi to bolster stock market and xh i to improve chances the reelection putting electoral interests ahead of americas interests urjs president s not to let huawei off hook or use it as bar gaininging chip like did with huaweis rival last year do you think the president is doing that. No, i almost never agree with the beginning of his article i agree with we should not give that up that is crown jewel he is right most important relationship United States has with china one that finally having a president stood up to chinese we have gen betting ripped occupy 20 years over chinese, tariff agreements subsidizing their economy at compensatexpense of hopes once china was wealthy would be best friends open society trade fairly none has happened finally a president is standing up the right time to do it, and may be the last time to do it. Maria so what should be done at this point . Because, i mean obviously, markets want a deal the economy, seems to be slowing around uncertainty over a deal yet the president has changed his conversation, on china, he has been, very articulate in terms of the National Security risks, so should we forget a deal . I think we go for the this is the moment to have the deal, the chinese economy is slowing, xi jinping has problems in hong kong with those demonstrators finally has american president doesnt back down, we are in the best position we have been in for decades the economy is about terrific trump has trade deeldz with canada, mexico south korea now japan potential britain i think trump should take all those trade deals he has, in his pocket, and take all those countries to the chinese say we want a new deal we are all getting ripped off from you we have for decades, we now want another relationship. Now we dont want to screw you we want a fair reciprocal relationship the days of United States subsidizing the economy are over. Maria you make a good point but, you know, do we have enough allies on this subject against china . Because last time i checked, huawei infrastructure was all over europe. That is right. Maria . Okay. Maria europeans not get it that there are back doors in huawei equipment where data is going right back to the to the beijing government . If china controls the technology of the future their goal by 2025 they want to be dominant all 10 technologies of the future if we allow huawei to be the dominant. Mr. For intent transactions the way we economic with each other we might as well send it all to the Chinese Government because that means chinese will control all communications with anybody every in the world, and what toes does that allow them to do exactly what they are doing to their own people. Maria what is happening with Artificial Intelligence chinese tracking their people tracking the citizens with facial recognition what are thoughts about a. I. And military and china, being perhaps ahead of the u. S. Two things one chinese are youveing all this facial recognition swoer algorithms to track every one of their people they want to have a complete authoritarian state everybody. They have it and they have it now. What they do to our own people would happily do to the rest of the world as far as United States, technology any advanced technologies we dropped ball 20 years fighting wars in middle east we couldnt win they consumed our attention, resources i think it is time to turn around and invest like a Manhattan Project invest in American Technologies because unless we are the leader, in these technologies, robotics Artificial Intelligence, all these different technologies that the chinese are trying to beg borrow steal from us then we are in a very difficult position 10 years from now. For sure this is the issue kt great to see you. Thank you so much, coming up brexit uncertainty put british Prime Minister Boris Johnson at the setback Stuart Varney will weigh in, Credit Rating downgraded to junk status automaker fell short coming up. Hey Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. And i heard that my cousins so, wifes sisters husband was a lawyer, so i called him. But he never called me back if your cousins wifes sisters husband isnt a lawyer, call legalzoom and well connect you with an attorney. Legalzoom. Where life meets legal. Liberty mutual customizes your car insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty welcome back President Trump and prime Boris Johnson a chance for a special relationship joining me host of Varney Company Stuart Varney good point. I suspect you are laufrg at me under as if surface. I think you are right. Not same as old special relationship Margaret Thatcher ron rorn it is more of a parallel i hope continues quite frankly if you noticed both sides of the Atlantic Media did he tests Prime Minister in britain and president of the United States parallel both sides atlantic elite detest boris and President Trump both sides of the atlantic have commonality of a very strong economy. Most viewers probably dont know this brits reported a 3. Unemployment Rate and a 4 gain in wages almost the same as United States, they share something in common right there. And i look both have a super powerful rivals Boris Johnson against eu President Trump against china parallels going on suggests a special relationship as i said i hope it continues. Because if brits can get out of europe, we can then have a special trade deal with the United States. I keep saying we i mean they can have a special trade deal with United States i think there is a parallel here may be not a special relationship but definitely a parallel we worth pure pursuing in the conversation right now president talked about uk at top of the line when ready. Unlike the obama years when america britain would be in the back of the line, if they went through with brexit my how time changing. Exactly i know more in 10 minutes see you top of the hour Varney Company every day 9 00 a. M. Eastern join stuart after mornings with maria first, it is a new era for alibaba founder officially steps down as head of the one of the he largest ecommerce companies, fords credit rateing downgraded to junk status where the automaker fell short after this break, back in minute. One fine day youre gonna want me for your girl i know [ sigh ] not gonna happen. Thats it. 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Yeah so who knows what will happen but that is what it is look being like right now talk about ford taking a big hit you side down almost 4 worse than even 30 mipts ago moodys downgrading to junk status, they say weak eps cash generation ford restruct yourself spending seven billion on restructuring taking 11 plan this charges, they say business balance street salad did not get response to question to ford or moodys jeffma richest man in china going to retire from alibaba the you can see shares of that company down this morning, was a long planned succession, facebook big problem facing massive damages in a lawsuit in San Francisco. Where cam braicame bridge analytica breach of person data judge saying facebook interpretation they can use information pretty much any way they want to, that they gather on social media web site, he disagrees treasure u. S. Undersecretary tor terrorism saying facebook will have to comply with u. S. Laws regarding moneyy landering terrorism as it gets ready to Libra Cryptocurrency those shares down, we will watch that as well, and your thoughts on Tech Companies in terms of this this big antitrust fight. Step back for a minute on big tech five Biggest Companies in america all tech really Software Companies when it comes down to it i dont see a price bubble not so expensive but 28 of u. S. Profit, that is close to the peak for Financial Sector during the height of the housing bubble bank of america points out a level that can often signal major market peak i dont know if a bubble i dont know how it burst some still growing top lines 20 that profit bubble if you want to call it that interesting that that is happening in a time when companies are under gun from regulators all sorts of direction. Lots of conversation about rotation going on whether or not valuations innek the are going to mean rotation skips over tech . Yeah, i am looking for what could slow the Profit Growth for some of these companies. A break when we get back final thoughts from allstar panel. Stay with us. At synchrony, were changing whats possible every single day. But what does changing whats 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, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . 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Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Maria welcome back. Markets will open lower this morning. You just saw futures, we are waiting on the ecb thursday and the fed next week. Down 38 on the dow. Well see what comes out of it. Couple of name stocks are moving much more than the averages. Final thoughts from this allstar panel. Jack . We are going to get lower rates. Who benefits from that . Maybe we dont have any more stimulative effect anymore but im looking at home builders. Mortgage rates are attractive but millenials are reaching these peak years when they might be moving out of the parents house, buying houses. I see good signs that millenials could drive home building. Im looking at dr horton which has a good entry level product. Maria you think these rockbottom mortgage rates, actually they havent kept up with other rates but still, theyre low, is that going to provide the stimulus for the Housing Market . I think the general home buyer, a quarter point wont make a difference but i think its happening at just the right time for millenials who will be the next big driver for the home builder market. Maria what are you looking at . We spoke with senator david perdue rl iearlier. Hes a democratic challenger for his reelection. John ossip spent six times the amount of his opponent and still lost to her. I would think stacy abrams would be a compelling candidate for the senate race except she would have to abdicate her slot as governor of georgia. Maria what do you think happens . I think perdue wins reelection. We keep hearing red georgia will go blue. It hasnt happened. It has not happened. I will point out the story about the ecigarette makers and juul in particular with the food and Drug Administration going after juul, saying you cant claim that ecigarettes are safer than traditional cigarettes, also feeling heat from the federal trade commission and the first lady tweeting about the danger of ecigarettes and the nicotine addiction. I would Pay Attention to that because its getting that company is getting it from all sides. I think Rob Gronkowski is on stuarts show coming up, by the way. Maria by the way, we also had a warning from the fda saying while we investigate this, stop vaping. This is serious stuff. Great show, everybody. Great to see you. Thanks for joining us. Have a good day. Varney Company Begins right now. S stu, take it away. Stuart yes, dagen, we do have gronk on the show. We do. That tall drink of water. Stuart right. Whatever that means. Whatever that means. Good morning, everyone. Start off with big trouble at wework. Its supposed to go public. Its supposed to raise tens of billions of dollars. The ipo now looks doubtful. Lot of people stand to lose money and their reputation for financial judgment. Weworks main investor is now calling for the ipo to be shelved. No official response from wework yet. At least i have not seen it. If this ipo does not go forward, it will probably be the biggest upset to