Transcripts For FBC Mornings With Maria Bartiromo 20240713

With us and brew Group Investment banker and nfl star jack brewer great to see you this morning. Thank you so much for swroining us here we are looking at futures which are lower this morning going into another week. This is an important week because were going to begin Third Quarter earnings give us a window into the economy and corporates dow and s p 500 trying to snap a threeweek losing streak, with all eye on the china trade meetings this week on thursday. The two sides expected to resume the negotiation thursday. Beijing reportedly ready to talk about a narrow focus deal. Narrower than weve been talking about with full scale reform of stroll sector off the table whats your deal given the fact that president has been adamant about industrial issues and the behavior of china particularly with the intellectual property . Market clearsly not liking it maria. I mean listen the pressure is on certainly hong kong is not getting any better an chinese economy isnt getting any better our economy it shall depending on how you look at it is certainly affected to one way or another so the interesting thing to me, though, is when does this . End weve had this back and forth meetings and not meetings weve had the agreement the not the agreements and, i mean, gosh at some point arent we going to come to the table together and say were goinged to a deal or were not but you see all of this impeachment talk you see things that are going on, here in our market just got to be playing a role right now. I dont think theres any way that we need a trade deal done before election day 2020. You dont because issues are too important in terms of the property it seems now that beijing, though, is bullying certain companieses, i mean, there was a there was an app on the Apple Apple Store that brought together hong kong protesters apple was bullied into banning that app. Now, it reversed a decision you can buy the app on apple store now but it had to think about it and then youve got this story about the nba, the nba facing backlash Houston Rockets general manager under pressure because he tweeted support for the hong kong protesters. That closed a major uproar in china with about rocket popular. Chinese sponsor pull support and chinese goth made a comment were not going to support rocket and nba spokesperson responded and the league support individual educating themselves sharing views on matters important to them. We have Great Respect for the history and culture of china, and hope that sports and nba can be used as unified force to bridge Cultural Divide. Jack how do you see it . Ive spent a lot of time in china with both nfl china and nba china, and ive got to tell you china is a bigger market market potential than the United States. For the the nba so this is kind of scary for them right now. They poured a lot of resources and theyre having game there is every summer. Players are using china as one of their biggest markets for brandy. Theres so many big time nba players traveling to china every year and this is not good for the nba. You know, this is where our American Values have to get put before the ballot. Not good because this is the height of hypocrisy a champion of social justice here in the United States and they have completely rolled over for china. The statement they put out was utter horse maneuver and they and they have united all of the fans here in the United States. Dont make the communist mad, the country that has imprisoned a million muslim and concentration camps. That controls the internet that controls speech and the nation that spy on its own citizens through a. I. And facial recognition stealing from the United States and they have this nba has audacity to go after a manager who has gut to speak out in favor of honk cook nba has completely fouled up in addressing that. Fouled up thats good. Technical foul really. And he apologized this morning. That was the the things for the tweet. He threated the tweet. Over the weekend but his support for the protest in china and im sorry in hong kong angered the leadership in beijing. Thats the thing maria too i think when you look at china how they factor into all of this with respect to that tweet. China wants control of everything. It is just pack of the trade jack. China. Thes control of every facet of this dole and just is like the nba comment china is not liking, obviously, the support may be that was given for hong kong theyre upset to control the hong kong situation which theyre losing control of by the way if you saw in the last few so followed after they drafted back in 2002. He became the star, he helped the nba break through. Really break through china, that became made the nba so successful in china. But we also should point out that youssef is one of the billionaire cofounders out of alibaba and hes now the own per of the Brooklyn Nets, and he came out and said the hurt this incident has caused will take a long time to repair. But the issue for fans is that nba for example, wouldnt didnt play all star game in North Carolina because the transgender bathroom ban which was ultimately resended but again they have been very vocal about here about things that they were not happy with. Rightfully so but then youre siding with a country, a communist nation. Thats to destroy the United States, youre taking the side of communism over democracy. For money. Right, and you know, you mention the weeker you wonder how much of the human right behavior the the elephant in the room while theyre doing these trade talks on thursday. Because youre right. Theyve rounded up muslim one million muslims, and i understand it is looking like it could be two million because theres a whole other portion of people that not yet again to acl concentration camp calling reeducation camps that you cant study muslim you cant have any other religion other than what the chinese want you to have. And theres this story that i mention a minute ago. Apple reportedly banning an app that allows hong kong protesters to track other protesters. And Police Movements in the city state despite increasing International Condemnation against violation used by authorities. Apple reversed a decision. You can buy that app on the apple l store. But this is the kind of bullying why . Because ceos from way too long were looking at china as Major Business opportunity. And not recognizing that okay, we want to Market Access we want to sell to people over the head of the nba. He said yeah, it is a nightmare to china. Where is adam silver been quiet. But were putting money before everything. Look at whats happening with trump right nowing out career politician we create a culture in on liberal side of our policies allowing people come into office poor and leave rich. And no one says anything it be. I mean you have time and time again the same thing were putting dollar over our American Values. Why i have a problem with google having its a. I. Lab in beijing. Im sorry i have a problem with this. Inch it is dangerous. This country is the reason that google is a successful as it is. You have become inretched because of america and you walk away from the deal with the pentagon and then you do business with the chinese and you have an i. A. Lab in beijing. Youre selling out maria to a point this shows how complicated trade talks are getting think about twist and turns that talks are having or nba distinct for example and what that does to these negotiations. In my view president cannot have any twist or turns that needs to be it shall that this country holds and stick to your guns in terms of intellectual property all of the other things Human Behavior and human rights as well. You mention the president let talk about this impeachment inquiry attorneys repghting cia officer behind whistleblower complaint now says theres another whistleblower. I spoke with Judiciary Committee on sunday morning futures heres his reaction. Willare you going to subpoena ts whistleblower . Heres whats going to happen if the whistleblowers allegations are turned into an impeachment article it is imperative that whistleblower be interviewed in public under oath and cross examined nobody in america goes to jail or has anything done to them without confronting accuser so heres what im going to insist upon that the whistleblower wanted to whatever they come forward under oath, testify so the public can judge or credibility if that doesnt happen in the house ill make sure it happens in the senate. There was contact between the whistleblower and either adam shift and his team on the Intelligence Community he needs to be put under oath to answer the question, and again, that is the reason that he should not be allowed to run the investigation where he and his team are central fact witnesses. So were going to talk to Kevin Mccarthy this morning minority leader hes basically saying adam shift needs to go and one of the issue they were both talking about lindsay grandma and John Radcliffe is this impeachment inquiry is happening in the Intel Committee, where the jurisdiction of any impeachment is typically the Judiciary Committee thats one. Number two, theyre doingering behind closed doors where those really important testimonies last week. Right, of kurt, of atkinson and we dont anything it be because they behind closed doors and adam shift is fact witness and study with whistleblower but, in fact, he did meet with the whistleblower, before the complaint was even made so my question is, did he coach this person to what, for what to say in the way he coached Christine Blassy Ford onbred kavanaugh dagen. Impeachment by fiat by nancy pelosi, not taking it a vote. That is why you will see the white house push back on the request for information, the request to speak with individuals. Because again, it lie in face of what is she said it theres no precedent theres a precedent it is called nixon and clinton where you have the vote by the entire house authorized to Judiciary Committee to move ahead with an impeachment inquiry. That is what history modern history tells us. And shes trying to do an end around, and so it goes to although constitutionally the house is not required to do a full vote. It does beg the question, legally whether a white house would have to comply with this request for information if you havent taken it a full volt. Right. That will be the ultimate stumbling block, and i would expect if nancy pelosi wont get the democrats to vote on it in the house to essentially launch it, define parameters of the investigation, the powers that exist, then youll have a court fight by the white house at every turn on every request for information. And every subpoena, thats whats going to happen. Smg you heard what plin city graham said yesterdays on sunday morning futures they continue to do this inqierp rei in the Intel Committee where everything is done behind closed doors. He will demand that the whistleblower comes out speak publicly in the Judiciary Senate judiciary so well see about that. But this was, obviously you cant impeach a president behind closed doors. It is unbelievable. Duly elected president. Well fake a short break theres a lot going on this morning. We have a huge guest lineup this so stay back with us. Executives at an impasse this morning the strike now in its fourth week when we take a look at that and then laughing all the way to the bank joker rakes it in big despite a rash of controversy. Thats next. Stay with us. dramatic orchestra performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. 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. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. 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Deciding that turkey will take all captured isis fighters into its custody President Trump says u. S. Will not hold the fighters calling it a great cost to american taxpayers. Turkish senior official is withdrawal of u. S. Forces could take just a week u. S. Backed Kurdish Forces are slamming this deal, however, theyre warning a turkish invasion could lead to return of isis. Turkey has threatened for months to launch military oarings and drive away kurdish fighters from that region. So far theres no end in sight against gm. Walk without reached a fourth week. The uaw has dismissed general motor latest offer with the last rejected proposal with minor changes. Two sides remain at odds including pay for new employee and fulltime status for temporary workers. Wall street estimates strike is costing gm 100 Million Dollars each day. And the joker is no joke. The movie smashed records at the box office over the weekend. One small thing. Yeah. Bring me out can you introduce me as joker . Warner bros. Film brought in 93. 5 million in Opening Weekend that is a record for an october debut the film stars Joaquin Phoenix as batman villain causing safety concern some theaters had to ban mask for maria stepped up to security here in new york and undercover nypd officers screenings but just to let you know no reports of violence. And the estimates was 80 to 100 million and it came in to the end of the range so folks like it i guess. I want to see it. Coming up here in new york city. Im sorry. Shot here in new york city up in the bronx out in brooklyn. Looks good. Yeah. Coming up major cut set to cut thousands of jobs as new ceo takes range and tell you about that and then lazy cocktails trolling interpret with a whiskey shot that looks like a familiar one that we talked about months ago is there online outrage about about this. Back in a minute. Its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. 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You you know, i dont know wo necessarily has the upper hand. If markets feel like china has pupper hand right now in the long run u. S. Does by the nature of the relationship and although our economy is like roughly twice size of theirs or 70 or 80 bigger might as well be 50 times bigger because were a consumer of so much that goes on there, so many of our companies that are getting involved there. So i try to have upper hand china can go down the path to selfdestruction than we can and take more pain by the nature of the government but fact of the matter this hurt them far more than it hurts us and having slowest growth in 25 year. So i have look, this impeach m stuff is really comes at the wrong time and i think it is sepgding the wrong message to chinese to try to continue to play games. But you know, well see how this goes if this fizzles out best analysis ive heard is if it looks like theres a hot probability and come to table quickly because post november, theyre bargaining chips all but evaporate. If theyre watching Mainstream Media ponging administration they renege again like what happened back in april because of that very reason in my view. Anyway, Third Quarter earnings probably more important right in terms of Significant Impact for the market over near term were going to have Third Quarter earnings out in a week. What are you expecting . Perjury you know, i expect very low, very low expectations and wall street to deliver just above it. So you know, two or 3 Revenue Growth and plus one percent in earnings growth, and if we have a decline earnings like one percent, really flat pest earnings and setting stage next year where hopefully get become to high single digit earnings growth. Positive numberses are interesting, though, i think i think market could take that well because if youre hand cap this going into q3 earnings like you said maria start next week and get going to the end of the month mike youve got a chance for the market really to kind of be offside when it comes to maybe positive surprises. Also, this is probably the excuse core, if youre a tech company if youre an industrial company, and coming out with weak numbers top or bottom line. Youre blaming on trade talks and market may even given you a pass. Yeah. I dont think anybody is is beginning to get mental p penalized so how i refer to get all of the expenses out make it look as gloomy as possible but give positive guidance so our stock doesnt get slammed. When mesa tyson foods are all a number of companies that have moderated expectations in the words of the wall street journal recently in last few months wall street analyst have lowered their earnings expectation for every single sector in s p 500 so all 11 sec stores and you have a mark that is actually down year over year. But not crazy down. To that point dagen what are we up . Considering expectations. It has an impact. But not look at the last 52 week and s p is down almost two and a half . So it has been a rough market in the last year. And the back drop we just got jobs numbers out on friday we have a great show on friday, 50 year low upon unemployment kansas city Federal Reserve president Esther George said yesterday she believes u. S. Economy is is in a good place. Shes not opposed to another rate cut. But well see. This, you know, it has been incredibly divisive within fed. Some of them do not want and from pennsylvania from philly other day president of philly said he goes no we want to wait see how things go no more rates for now. Awful large in the rate cut camp and that is yield curve and when fed finds highest bonds on empire rate curve, you you have to cut. It is just a matter do we get one or three more . Right, you given yourself very the room to negotiate if youre the fed. But then again with all of the revote madness over last few weeks it is inevidentibility to provide liquidity to market and tightening has made a difference on dealer Balance Sheet so this has been a cat in the house, and some surveys the pmi survey given the fed cover for them to cut but i think were going see 25 basis points at the end of the month i dont necessarily know what comes after that. Futures volatile this month you have fed fund futures mike a few days ago as 0 for a cut drop down 2070 on friday probably pup again today. Market still trying to figure out what fed will did and i think theyre going have to cut. 70 chance if the fed cuts in two weeks end of october. Consumer price exeindex out on thursday after fed minute on wednesday so thats going to be after flat wank growth month over month. That would be telling and Third Quarter earnings. Dont forget quarter earns. The this week levi report this week. Tenure down good to see you we have breaking news we want to get to. Were going to to that right now with this breaking news that we want to get your take on jack burr. Jay gruden see you later. Red skins head coach has been fired. He has. The head coach he was making five Million Dollars a year, ladies and gentlemen, and had is last year of this contract. This team has been playing some of the worst football that ive seen in their division where they could actually win the division because teams are going back and forth and so you know what seeing in Football League right now youve got to pay these guys so much money that if you cannot come out to get where are team ready to play every sunday then a Million Dollars for every law so far. Right. 5 million dollar. Im lifelong red skin fan. Really . Dagen . So sorry dagen. Vikings and spend so much money inoff season dagen. Extremely difficult to watch them play. Knowing that they that again not about players but about the coach and hes e joe and it shall ill say this. In the Football League if you get ready to coach this early you can make a comeback during season because guys tend to rally around you know if you bring somebody up and let them be the interim head coach a lot of times they rally so i applaud that. There you go breaking news in red skins firing head coach take a break on that news when we come back ukraine controversy and multiple whistleblowers right now and white house is pressuring nancy pelosi over Impeachment Vote that white house letters going to be going out today and then major cut today just to be safe. Bank reportedly slash thousands of jobs tell you why after this short break. 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 . 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. the day well finally get something done. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero good monday morning everyone thanks so much for joining us im Maria Bartiromo october 7th your top stories right now. 6 33 a. M. On east coast concern trade and futures indicating decline of start of trading although off of the lows of the morning. Dow industrials down 90 point right now and s p 500 down 10 and nasdaq lower by 25 and stock rally friday following jobs report nasdaq high e e for the week and friday bane were not enough to bring the doug and s p 500 out of negative territory as you see the dow down better than 1 for the week, the s p down almost 1 , and nasdaq down twothirds of a percent on the week. Global markets this morning look like this european indices are higher across the board and paris is up 12, and dax index up by 40 points. There are more sign of a slowdown in europe, though, germany factory orders out and decline in august more than expected olders from inside germany dropped 2 . Asia markets and china this week will meet with the u. S. On thursday. Up to resume those trade talks, china and hong kong still closed for the golden weak holiday as they celebrate 70 years of communist rule. Markets theyll open on tuesday our top story this half an hour ukraine fallout attorneys for ukraine whistleblower, now say that they are representing another whistleblower, with a complaint against the president. I spoke with Senate Judiciary chairman Lindsay Graham on sunday morning futures. Are these all whistleblowers about one phone call he had with the president of ukraine do you think . I dont know. But remember kavanaugh, remember kavanaugh that started with one complaint that wound pup being unverify public five more allegations came after that. What do we learn in kavanaugh . That there were coachings and they were piling on to try to create an impression that judge kavanaugh was a flawed human being. Does this second whistleblower if there is one are they within the Intel Community and what is it about Intel Community and trump that is so off base here, and did shift do what the the whistleblower, first one what they did with kavanaugh witnesses coach them up . Joining me right now is white house report per good to have you this morning. Thanks so much for joining us. Senate judiciary chairman Lindsey Graham made an important point he said yesterday he said why does Intel Community keep going after trump . And what im wondering is there any relationship is there any connection between the between the the whistleblower and the group that staged a cue in early 2016 to take the president down . Because it is all of the Intel Community which, of course, was headed by john brennan. Right well it is unclear as of now i definitely do not know the identity of the whistleblower or the second alleged whistleblower as well. So that is unclear im not sure how many people know the identity my reaction . My reaction you know with what lindsay grams point the senators point making about relating the kavanaugh, and to the Intelligence Community as a whole as going after the president and i think it is the same line of defense. That the president used, you know, definitely throughout the Mueller Report and through the Russian Investigation trying to discredit intelligence municipality discredit the people that were coming forward were seeing the same thing now with this whistleblower, and it is unclear i think that what will happen moving forward with regard to as to hey theyll be identified theyre not supposed to be but if it does end up being identity coming out and reports last week that breitbart might have released a name it is unclear whether there might be retaliation were seeing a lot of republicans using that line of defense again. Prchg i dont understand what were blowing whistle on can someone explain what were employing whistle on because we have a transcript from the phone call between the ukraine president and prump what do you think were blowing whistle on what are we blowing it on . President of the United States of america, and you are talking to a country that has corruption, why would you not be able to talk to them about anything that has to do with corruption, i dont care if someone vonning for president. Or not that shouldnt, that shouldnt make any difference many fact of the matter is that what is sick what is so sick is that theres no democrat ive not heard one single democrat say anything negative about joe biden in the son taken all of this money. And thats because all of their budties are coming into office pour and leaving rich and American People arent stupid they see this. You follow money trail and it is obvious it is right there. Why does no in the want to know about these people taking off this money from a guy who had has been convicted of drug use, kicked out of the military, and the president of the United States is not supposed to dig deep into that come on. Perform but dont forget that origin of the russia probe, of course, sparked two and a half year hysteria that president colluded with russia, that beginnings and origin of all of that monosense started in yiewg crane okay so i can understand the president saying to the head of ukraine do you know anything thats going on how this all started and whats wrong is that by the way . What is wrong with that . Not at all blame and terrible. Presidency for the first two and a half year, even though it wasnt true. Cant turn a blind eye to it i would ask you to where is somebody taken to task with respect to coaching going on whether it was Christine Blassy Ford or case of the whistleblowers that are out there what about coaching going on clearly behind scenes that say, modulating messagings were getting from people that are blowing whistles as it were . Im unclear of any coaching on behalf of im not sure if youre referring to lawmaker hads referring to is fact that adam shift went on television and said this, we have not spoken to the whistleblower. We would like to speak to the whistleblower. And he said that officially he had not spoken to whistleblower and then we with found out later, that the whistleblower actually contacted his committee and time with his committee before making the complaint. So in that 18day period were in thes coaching whistleblower as far as how to present this complaint speak about about this complaint . Scott is spot on. So from any knowledge, yes. The whistleblower did reach out to the House Intelligence Committee prior to the complaint being filed. From what the congressman adam shift says had not met before it was filed but there are a lot of questions i know a lot of them. But republican lawmakers lawe planning to look into that. He did reach out to the intel comet but they didnt meet. That is the line of congressman adam shift im unclear of whether what had communications and extent of the communication. But they were aware that there was a whistleblower ahead of time. That was according to the report but there was no contact or meeting in sense of physical and person meeting or coaching from line of what youre saying. It is unclear i think an area that a lot of republicans are we dont know that to be true. An awful lot of communication maria over that 18day period absolutely to where the message was at least crafted refine as we got American People and hadnt talked at all or communicate at all that wasnt true. This is same individual adam shift dagen you pointed out last week said there was collusion between donald trump and russians in plain sight. After the Mueller Report had been already delivered to the Justice Department and after at least the summary had been released by attorney general bill barr. Quickly, if i can ask elena joe biden over weekend wrote he was trying to kind of defend himself wrote an oped that was in Washington Post that said, trump wont destroy meeting wont destroy my family. But there was one word that wasnt in based on when i read it that wasnt even in that editorial that was ukraine when was a little odd. [laughter] i i know that joe biden when he made that statement, i know that his advisors and people on his campaign trying hard to walk a fine line between looking tough which he was criticized not looking tough night or fighting back against the messages against him and his family. But he didnt bring up ukraine theyre trying to do a little dance around what is going on there. And there is a lot of concern on the campaign that readless of whether ailses are true or not, that just hearing the words joe billedden and corruption in the same sentence is going to taint his candidacy and im interested to see when more of the polls come out over next few weeks over whats going on with the investigation affecting the former Vice President. China gig was better than ukraine gig, the yiewg crane gig getting 50,000 a month for five years. Five years. So this is hundredth per biden getting 50,000 a month from ukraine for five years and then china gig he went to china on air force two, with then sitting Vice President and then got what, one and a half Million Dollars . Exactly bigger economy, bigger economy more opportunity, ripping off the pus more maybe that was the whole opportunity here. But i cant, i cant let this segment in without asking you ive looked at dozens of reports of everyone saying same thing. That adam shift staff met with the whistleblower before and never told anybody about it. This was weeks before any of this came out so how can you sit there and say that you dont know if there was any coaching or if he even met with him. I dont understand. I dont think whistleblower told the Inspector General. He never told Inspector General that. Theres that too. Go ahead lain that. Again from what im only going off of i dont know what happened in those weeks leading up. All im going off is same thing as you are had is reports and what congressman adam shift said and theyve never met. I do think that the Intelligence Community Inspector General he had facts in front of him so he has a lot more information than i do and i have to show some humility many that. But from he found allegations of the whistleblower to be corroborated and to be urgent concern and so, thats what kicked off allowing whistleblower to plaint to come out allowing memo of the call to come out and so of course the president releasing the transcript. So the more whistleblowers about a transcript that is already released thank you. Well see you soon. Coming up s l treatment mike pompeo parodied on saturday show well take a look at that when we come back. Stay with us. As a principal i can tell you this. When one student gets left behind, we all get left behind. This is a problem that affects each and every one of us. Together with ibm, we created a whole new kind of School Called ptech. Within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. You know whats going up today . My poster. Today, there are more than a hundred thousand ptech students around the world. Its a game changer. 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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. Welcome back intense man hunt is underway after deadly shooting in kansas city over pet weekend Cheryl Casone on headlines now. Police searching for second suspect after they arrested a man many shooting that left four people dead. This happened a the a bar in kansas city, kansas early yesterday morning. Witnesses say one of the suspects was kicked out of the before and returned with a second man and they brought guns. Well, it look like major job cut are come to hbc and Financial Times reporting bank may slash up to ten thousand jobs mostly in europe and remove reduce cost and they have double digit return in parts of asia but not as successful in europe bank preengtly announced more than 4,000 layoffs and premarket, stock is down almost 1 right now. And finally theres this remember the whole tide pod craze where you have kids eating detergent and post it on internet and got sick now a Bench Company has alcohol filled pods that you can consume these. Well i guess if youre over 21 right. Capsule collection feoffs glassless had cocktails filled with scotch whiskey in wood and spice, limbed production pods are being served during london celebration of cocktail innovation a big thing in london running through sunday i guess my question is if we get into a trade war with with europeans would that affect the pods whiskey i worry about these thing. Like why . Get into trade war with europe in it would be terrible these could save the day. Pfnlg irish and scotch whiskey. [laughter] come on cheryl. Secretary of state mike pompeo gets s l treatment this weekend. Listen ive been asking around and ting this whole impeachment thing could be really bad. Who told you that . America. S l joe is here for his take next up. Back in a minute. The world is built for you. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. 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 to the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Call, click, or visit a store today. You know what im going to walk this guy out. Whats this like to live in . Wait youre coming back right mike. Because it seems youre for trump then im president. Yeah. Yeah thats right. Good thats going to work out just great i cant wait for that to happen. [laughter] and hey, impeachment l moves pretty fast. If you dont stop and look around you might miss it. [laughter] that was a clip from saturday night live cold open over the weekend with Matthew Broderick playing pompeo and offering Ferris Bueller jokes as well. Former saturday night live cast member joe piscopo joe great to see you. Maria hey how are you doing so nice to be on your show here from a. M. 97 the answer and what a great impression i thought that was a great impression, yes . Yeah question talked about this before how politics doesnt always play so well on s l. But dagen you watched it you think had this show actually it hit the mark. I think stevie who im obsessed with did incredible monologue and best sketch the host, the best sketch was the her the, the war told in letter sketch, which i cant describe it i encourage people. Audio hi guy. Yeah. Joe cant hear anyway. Im sorry joe youre live on your radio show we have you live on our tv show. And this is this is like a monument tally hard thing to do here and glad youre here another highlight was kate she was President Trump attorney lets watch this, swroa. Inch oh, boy we need to get ahead of this story before it spirals out of control joe did you see Text Messages they uncovered . What they totally exonerate us. [laughter] that is good opening sketch was not that great. It was just people treesed up in costumes. But again, it is when they do things like the sketch with waller bridge and war told in letters when they do things that just make people laugh that arent political, i think that thats when the the show excels and, and i miss leslie jones she left the cast this year i thought they needed the writing was lacking. All right do you guys watch it . I watched it after the fact but funny s l is is in interesting spot but ding a dance do we make fun of the republicans too much. But then still throw shade on democrats and plans that out they dont but starting to here and there a little bit. I would like to see more, of course. Prchg joe sorry that didnt work out. See you back soon thank you so much. Sir still ahead the nba under fire this morning not from america but from china. Chinese businesses are cutting ties with the Houston Rockets fake a look at why next hour mornings with maria, back in a minute. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is monday, october 7th. Your touch stories right now, top stories right now. Concerns about u. S. China trade issues weighing on tar markets, futures indicating a decline at the start of trading. We are well off the lows of the morning. Dow industrials down 38 points, s p down 4, nasdaq lower by 8 points right now. We are look ahead to thursday. Thursday is the date when u. S. And chinese officials will meet to resume trade talks. Stocks rallied friday and even though we had a pretty good move on friday it was not enough to put averages in positive territory for the whole week. The nasdaq was higher for the week. Fridays gains were not enough to bring the dow and s p out of negative territory. The dow was down about 1 on the week. The s p was down a third of a percent, the nasdaq was up on the week. Take a look at Global Markets this morning. European indices look like this right now. We are having more slowdown more signs of a slowdown in europe this morning. German factory orders are out, down more than expected. Cac in paris is up 26. The dax index in germany up 68. In asia overnight, markets in china closed for the holidays, its golden week where the chinese celebrate 70 years of communist rule. The whistleblower controversy is deepening, a second person has l come forward, this as President Trump calls for impeachment of nancy pelosi and congressman adam schiff. Auto workers say no deal to gm, the strike entering a fourth week as the union says negotiations have taken a turn for the worse. General electric makes changes to its pension, freezing plans for 20,000 employees as it tries to cut debt. The stock is up 1 on the news right now on ge. All a those stories coming up this monday morning. Joining me to break it down, fox business dagen mcdowell, chief Investment Officer and fox news contributor, scott march mn and former nfl player jack brewer. Great to see you this morning. Great to be here. Maria lots of stories. Youve got nba, jay grewten firing. Maria and the Houston Rockets under fire because the general manager was put out a tweet that was supporting the hong kong protesters. And deleted it. Maria chinese businesses are going nuts, basically ending business with him. The whole nba should be under fire. At some point you have to stand up for your country. Youre an american league, not a chinese league. Ad adam silver has been qut on this, which is kind of interesting. I think it would be nice for him to come out and exert leadership on this topic. Dagen nba put out a statement, basically cow tows to china, utter hip proble problem cry hye and youre worried about a tweet in favor of democracy from one of your general managers and instead are siding with the communist government that has a Million People in concentration camps. That basically spies on its own people, using facial recognition and a. I. That controls the internet, that controls the press and that steals our most valuable secrets and assets. So youre allin on china and youre worried about somebody who speaks out in favor of democratic protests. You need to go to reeducation camp and remind maria a different kind of reeducation. Technical fouls. Dagen and be he reminded of where you are based and who your fans are. Theyre americans, period. Maria a lot of Companies Need to understand this, because for far too long ceos were looking at china as an incredible Business Opportunity and forgetting to protect their own products and then you have all of this intellectual property theft. Were going to talk about china right now. Our top story this hour is the road to 2020, a new fox news poll shows that former Vice President joe biden is leading the democratic contenders by 6 points in wisconsin. SeconElizabeth Warren is in secd place, Bernie Sanders in thirds and all three take the lead over President Trump, a state the president won in 2016, voters favoring joe biden over the president by 9 points and Elizabeth Warren by 4 points over the president. Joining us right now is former pennsylvania governor and special counsel ed rendell. Thanks so much for joining us. Good morning, maria. Maria would you characterize the 2020 lineup today and going into the election, what are your takeaways . Its interesting. I wondered what th fallout from President Trumps attacks on joe biden and his son would be. If you look at the two fox polls, not just wisconsin but what happened in South Carolina where joe biden since the attacks has gone up 6 points and has a 4112 lead over the nearest pursuer, it appears that donald trump is doing joe biden a favor in the short run by hes almost taken out a billboard in every major city saying joe biden is the democrat i fear the most to run against and with democratic voters, the fox poll shows i think 56 of democratic voters say the number one concern is getting the candidate who can beat donald trump, even if it doesnt agree with my ideology. Trump is doing him a because all the attacks make people think why is he so scared of joe biden. Maria Lindsey Graham this weekend on sunday morning futures said this week was the most consequential week for Donald Trumps reelection. Why . Joe biden was exposed, because of conflicts of interest which of course weve been talking about that story. Bernie sanders had a heart attack and even the New York Times this morning said it was a heart attack as he left the hospital, obviously nobody wants that. We hope that Bernie Sanders is doing well this morning. But senator, youve got that and then he said Lindsey Graham said now we know for sure the frontrunner and the contender on the other side of the table in 2020 for donald trump will be Elizabeth Warren. What do you say to that . Dagen i think that go ahead, governor. Im sorry. Dagen go ahead, governor. I think they would love to run against elizabeth because she unfortunately in my judgment said she was for ending private Health Insurance and putting everyone on a government program. There are 160 million americans who have private insurance. Lets assume 60 million hate it. There are 100 who like it ant dont want to be in a government program. I think thats almost a fatal defect. So i think elizabeth is an easier target for trump to deflect the socialism rift than joe biden is. Dagen i dont understand how if the democrats are going to try to impeach the president on on issue surrounding ukraine and that phone call, how is joe biden best positioned to take on President Trump in the current environment, given the fact that his son was earning a sixfigure salary from an annual annually, over a period of years from an Energy Company in ukraine . Joe biden wrote that editorial in the Washington Post over the weekend and didnt even mention a word. So eventually it keeps by the democrats going after trump on ukraine it keeps a spotlight on the dealings of his son, hunter, in ukraine and not even including china. It seems like that that flies in the face of the very reason that joe biden is still barely, i should add, leading in the National Poll average. Well, first of all, even the ukrainian prosecutor who was fired because the u. S. And other nations intervened, he said he found no evidence of any wrongdoing at all by biden and hunter biden. Thats number one. Number two, every media outlet thats looked at this, and believe me, plenty of them have, because they didnt take it easy on Hillary Clinton in 2016, everyone who looked at it gave joe biden a clean bill of health. So i think thats number one. Thats number one. Theres no ebbing vei equivalene biden and his family did to donald trump saying he violated american law by urging a foreign nation to get involved in the u. S. Election. Dagen im not arguing ebbing equivalents. Im looking at what clearly looks like influence peddling by the son of the Vice President and a Vice President who turned a blind eye to it at the very least. Well, again, no one has found any evidence of criminal wrongdoing including cre ukrain prosecutor who was fired by the u. S. And other nations. Isnt is dubious with respect to how he was run out of there as they were investigating the situation, doesnt that throw dirt on the whole process. Maria biden is on tape, saying we fired him. Yeah. Maria thats on tape. Because the international community, not just the u. S. , several other nations wanted him fired because he was doing nothing to get at the root causes in the ukraine. Look, let me be clear. This election is not going to be easy for democrats. Any democrats who think we have a cake walk to defeat donald trump is crazy. Donald trump is the master at deflexion and redirection. Maria business is hes trying to make this all about maria business is quaking in their boots over Elizabeth Warren. The business round table, the group agreeing that businesses should make decisions with all stakeholders, employees and customers in mind, not just shareholder profit alone, 2020 democratic candidate Elizabeth Warren penned a letter to the ceos in the business round table last week, criticizing corporate profit, stock buybacks and dividends. The wall street Journal Editorial Board slamming the senator in a piece titled king warren of the ronne round table. They write similar to what we said last week, they write this, ceos cannot buy off mrs. Warren and the left with this or that rhetorical or policy concession, her intention is to redirect the capital that business and individuals now control. The only way to defeat this threat is to defend the morality of free markets and the moral and a fiduciary duty of corporations to shareholder owners. Last week i spoke with ceo of ey, Mark Weinberger and i asked him this same question, how could they put shareholder profits at the end of the list when in fact youre supposed to be defending shareholders. Watch what he said. You have 180 some of the biggest most successful Business Leaders in the world saying in order to get longterm Value Creation we are and need to he focus on all o all of our steak holders. Stakeholders. Youre absolutely right. Today, the vast majority of healthcare for all workers and the majority for all americans is done through businesses. The vast majority of all retirement vehicles is created by businesses. All the reskilling of workers and training of workers is done by businesses. We do do things right now maria youve done this, right. Its part of what we do as business across the board. Until we talk about that and show and are held accountable for doing that, then no one understands that. Maria governor, i was pushing Mark Weinberger because congressman andy barr said this is exactly the kind of decision that opens the door for the Elizabeth Warrens of the world to come in and say lets trash capitalism. How about defending capitalism . Look, mary ya, you know my maria, you know my time as governor and mayor, i always had good relationships with business. Didnt always agree, but i always had good relationships. I think this is a reason that Elizabeth Warren is going to be a tougher candidate to sell in a general election. But understand, business wants Elizabeth Warren not to become president. They ought to keep their mouth shut right now because with the democratic le electorate includg some working democrats, the big business is not a favored nation. And if they criticize Elizabeth Warren, its going to create the same thing as donald trump criticizing biden. Why are these guys attacking Elizabeth Warren, is it because she wants to even up the scales between workerers and ceos, is it because she this, this and that. I agree with you, that shes going to be a tough candidate to sell although i still think she can beat donald trump. But business is helping her by these attacks. Maria exactly. Thats exactly right. Governor, good to see you. Thanks so much. Have a great day. Maria and to you. Weve got a big show this morning. Dont miss it. Fox news senior judicial analyst judge andrew nap nap i napolitas coming up, palmer lockheed joins us, he is a biggest. Youll want to hear from him. Rogers and heely and Associates Real Estate owner, rogers heely is here as well and the all star panel with scott march kin, jack brewer, martin and jack brewer. Washington and beijing set to resume negotiations this thursday, the Market Impact coming up. And at an impasse, the, aw rejecting the latest deal from gm. More on that setback. Next up. 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And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Maria welcome back. The General Motors strike now in its fourth week. The United Auto Workers Union Rejected the automakers latest proposal aimed at ending the impasse. Grady drum bell has more on that. Reporter talks completely stalled over the weekend. One key Sticking Point causing the setback, the source says, is that General Motors isnt willing to bring back any product lines from mexico. Over the weekend, one of the unions top negotiators sent a letter to its members. Heres part of what it same say. We the union could not be more disappointed with General Motors. The negotiations have taken a turn for the worse. So now were in week four and the workers remain on the picket lines. The letter went on to say, gm rejected the unions latest offer. The uaw says a that offer included key issues like wages, job security, Profit Sharing and pensions. The letter says gm countered with an inadequate offer, similar to one the union had already rejected. For its part, General Motors offered this statement. We continue to negotiate in good faith with very good proposals that benefit employees today and build a stronger future for all of us. Gm went on to say its committed to continuing the negotiations around the clock to reach assess hughes. We should point out, maria, the Company Stands to loose 50 to 100 million every single day the strike goes on. Meanwhile, some workers are growing frustrated because theyre only making 250 in strike pay as the strike continues. Maria. Maria wow, thank you. Well be watching that. Coming up, u. S. China trade talks, china looking for a narrower deal as negotiations pick up this week on thursday. Markets are down on that. Investors want to see a deal but not a narrow one. Dow industrials down 60 points right now. S p down 6. Nasdaq down 17. Then this, Luxury Real Estate in focus, how hotels are inspiring new ways of living. Weve got it, next up. I said girls, i aint as good as i once was. I got a few years on me now. 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You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year on your wireless bill. Plus, get 250 back when you buy an eligible phone. Thats simple. Easy. Awesome. Call, click, or visit a store today. Maria welcome back. Markets are lower this morning. Take a look at futures, indicating a decline of 66 points on the dow industrials this morning, s p down 7, nasdaq lower by 17. We are all waiting on the talks this week between u. S. And china officials happening on thursday. Negotiations are expected to resume thursday and beijing is reportedly ready to talk about a narrowly focused deal with full scale reform of its industrial sector off the table. In other words, take off intellectual property theft, lets just talk trade, thats what the chinese want. Joining us right now is head of Investment Solutions group at bank of america, keith banks. How important is this china story for markets and investors . Its very important. The big three in my mind continue to be china, the trade talks, number one. Number two, were about to embark on Third Quarter earnings and number three is the fed. Those are the things we have to be laser focused on. They will drive markets near term and more intermediate term. Maria jack. When you look at whats going on in china and you see all this impeachment talk and all the political risk, at what point do we have a break . What does it take for china to actually break through and get through that . Is it an election . Can we get something done before 2020 election day. Look, its a great question and its the question. This has been going on for a long time. Im not convinced that chinas convinced that even if President Trump is out of office, thats necessarily a good thing for china. If you listen to the commentary from some of the other Democratic Candidates, its pretty aggressive visavis china. Some people think theyre going to wait out trump, see if he gets out of office. Im not sure thats the strategy theyre pursuing. Well see what the recent talks bring. What were saying at bank of america is were not expecting and havent been expecting a fullblown agreement. Were saying if you can get a truce, that could be enough. Because what ceos need to know is what are the rules of the road for trade. And if they know the rules of the road, whether theyre good rules or not as good rule as you would hope for, you know how to plan and that could also potentially open up the cap ex spigot as well. Maria its the uncertainty. We talk about cap ex all the time. Handicapping business in china is tough going forward, certainly. I like how you did the top three there. I agree, chinas first and you talked about earnings and the fed. We talked about this with mike lee last hour. The earnings situation is very interesting to me. Weve got negative earnings expectations, top line and bottom line, but this is maybe the kitchen sink, the expectations quarter where you can throw all out there if youre an s p company because the markets expecting you to. Maria just blame it on that. What do you sunshine. We think there what a do you sunshine. Think . We think could be a n oversurprise. I think the expectation is for earnings to come in for the s p down around 3 , 2 to 3 . We would not be surprised to see earnings flat or up a little bit. If you get that, if we get another rate cut at the end of this month and we think you will, and importantly, if the fed talks about expanding its Balance Sheet and doing what it needs to do, thats a pretty good combination for markets to potentially move somewhat higher as we go into the very end of the year, during the last quarter. Dagen the Balance Sheet expansion, the goal would to not have that be stimulative but just to prevent problems in the short term lending market that the fed has seemed to have fixed in the short run by injecting basically coming in with facilities on a daily basis. But again, thats not the Federal Reserve is not looking at expanding the Balance Sheet to juice the economy. Its just to prevent problems. Some other shocks. Dagen problems in the shortterm in the repurchase market. What it will do, though, is it will provide liquidity. It will provide dollars. That should, along with lower rates, take some pressure off the dollar which if that happens again would be good for u. S. Growth. Again, not dramatically but, again, on the margin and also good for the profits especially of multinational companies. Dagen 40 revenue. Thats right. 40 of the revenue of the s p 500 comes from overseas. Overseas, repatriation. Dagen and for Technology Companies its closer to i think 55 . Maria and this morning weve got the german factory orders out. They were below expectations. Europes having a really hard time of generating any growth. So from a portfolio standpoint, how do you want to invest, u. S. And the rest of the world . Stocks, fixed income . Its interesting. We think we are in the midst of a dual track economy which with think can continue for a number of years. What that means is youve got u. S. And china, u. S. Driven by consumer, obviously, Consumer Services and then youve got the china, europe, especially germany driven by the industrial more cyclical, whichs has been the weak side. Germany i think 39 of germanys gdp comes from exports. 22 from manufacturing. Obviously the u. S. , 68 from consumer. The as macing amazing thing bow the u. S. Consumer, if the u. S. Consumer were a standalone entity, it would be the largest economy on the planet. U. S. Consumer spending is bigger than the output of china in aggregate. Maria you think the consumer takes us through this. We think the consumer continues to be a positive thing for the us. Youve got continued growth in jobs. Youve got wages growing, lets call it around 3 . On a real basis, thats significant, given where inflation is. So we are overweight equities versus fixed. We are overweight the u. S. Versus the rest of the world. We like large cap and we think the shift toward, again, more cyclical stocks will continue, especially if you believe that in the Fourth Quarter and going into 2020 you can get a continue to have a reasonable economy and reasonable earnings and our outlook currently for next year, for s p earnings, is about up 6 . Nice. Maria earnings up 6 in 2020 . In 2020. I like to hear that. Thats good. Were going to need that after this q3 number. Maria your your youre overs and the u. S. With valuation where it is and all the uncertainty, we dont think you can make a case for further expansion of the pe multiple. Its got to be earnings. That will be the driver next year. Maria weve be watching that for should. Great to get your insights. Coming up, nba backlash, the league is facing pressure in china over a prodemocracy tweet. Yes, the free speech controversy, next. And kids raking it in, parents handing over healthy allowances. Well tell you how much. How much is the right allowance for a teenager . Back in a minute. We are living in a material world. And i am a material girl. You know that we living in a material world. And i am a material girl. 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. 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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. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. Happy monday. It is monday, october 7th. Your top stories right now, 7 3. Weve got concerns about u. S. China trade talks weighing on markets this morning. Futures indicating a declined of 60 points on the dow industrials, s p is down 6, nasdaq lower by 17. The china talks resume this thursday. Meanwhile, last week it was about the economy, stocks rallied friday following the jobs report. The nasdaq was higher for the week. Fridays gains were not enough to bring the dow and s p 500 out of negative territory after a volatile week, dow and s p down on the week. European indices this morning are mostly higher, although we did have more signs of a slowdown in europe. German factory orders were out, declining 6 10 of a percent in august, more than expected. Orders from inside germany down 2. 6 . Germanys dax index now up 37 points, the cac up 13, the fq in london is up 17. In asia, markets in china and hong kong are closed for the holidays. The others fractionally moving. Living in luxury, people getting hotellike perks at home, how its shaping the Real Estate Market coming up. Kids getting a raise, a look at the average amount of allowance that kids are getting every week. The number may shock you. All those stories coming up. First, the ho Houston Rocketsen tangled in the hong kong protests, the now deleted tweet by the general manager of the rockets, darryl mauery, read this, fight for freedom, stand with hong kong. Major sponsors and chinas Basketball Association responded, saying they will no longer work with the team. Joining us right now is fox news senior judicial analyst, judge andrew napolitano. Good to see you. We know the rockets have rolled over and succumbed to the chinese. They asked me three or four days ago what do the Houston Rockets have to do with the hong kong riots, which have i would have said nothing. We know thats not the case. This is not a case of freedom of speech. This is a case of what speem speecspeechwork best to sell yo. There is no First Amendment in china. There are not used to having anybody publicly criticize them, much less an entity like the nba which they want of to come over there. There are a couple games scheduled to be played there, even involving the former new jersey and now Brooklyn Nets for which i am a strong spouter from when they played in new jersey supporter from when they played in new jersey. The question is when you make a political statement which is protected under american law which affects your product in china, should your bosses force you to retract the statement . The bosses are going to do whats best for the product and thats whatted happened here. You may with all your heart support what the general manager of the rockets said. If its going to impair the ability to market basketball in china, hes got to think twice before he makes that thats what interesting. Its interesting in a couple phases, that he said it in the first place. It was unprovoked. It was unprovoked and it was going to be inflammatory. Some interesting things about the rockets, that was you mings team that drafted him, that introduced chinese players in the nba. And the fact that weve got more and more games an engagement with the chinese, huge market, we talked about this earlier about how big the market is to the nba and china and how they dont was to screw it up this time. They talk about social justice. This reminds me of the nfl kneeling debate. People got offended they were going against the flag. Everyone came to a head. This is the same thing that needs to happen with this situation, because at some point this convenient social justice, convenient social justice when it fits your pocketbook, needs to change. Youve got to be about principles. I think you see that overall in society right now in america, because everything that were showing the kids is that if somethings convenient, then stand up for it. If its not convenient for you, then what happens to principles. Its thrown out the door. I agree with what you say. The Chinese Market is not like the american market. If the government doesnt like a message that a accompanies the product, they wont allow the product to be sold. Maria maybe the Houston Rockets shouldnt be interested in going to the Chinese Markets. This is just about money. Dagen this isnt just a Houston Rockets issue, this is an nba issue. This is nba and adam silver and the buddies who run the league wringing their hands over china rather than the United States. Theyre choosing communism over one person speaking out in favor of democracy in hong kong. Thats the decision theyre making, oh, you cant make the communist government mad. Theyve got a Million People in concentration camps. They spy on their own people through a. I. And facial recognition. There is no he freedom of the press, there is no Free Internet and theyre stealing from america and thats what theyre worried about. Theyre worried about china. You cant say anything that makes the communists mad. But theyre not worried about the fans here in the United States. I think Connell Mcshane yesterday tweeted, he said its kind of its hilarious that the nba has fouled up so epically that theyve united the people in america against the league. Maria and dont forget what carrie lamb is trying to do right now, this emergency move that youre not allowed to wear a facial mask. Youre not allowed to wear a mask in the protest. Why do you think that is . China has facial recognition cameras and they want to see who are at the protests. Because youre going to get it. There will be consequences for it. Most of the protesters are still wearing the masks. So people get arrested for Wearing Masks and the act of the arrest the mask is destroyed and nobody can flooive a court who can prove in a court who was wearing a mask and they get bailed out and wear the mask again. Maria thats why i have a problem with google having an a. I. Lab in beijing. Goo bell google walked away from a pentagon contract and now theyre working with china and theres no separation of military and commercial use. When you have an innovation in china, the first place it goes is to the military. Dont tell me google is not working with the chinese military. Google is poking the theyre going to address how American Technology falls in the hands of those who would use it to harm us. Maria thats why were going to talk with palmer lucky coming up, the founder of anderl industries, they got the project may veimaven contract. They make the drones for the pentagon. Really good conversation and its a great debate. Weve got to turn to this one. The Supreme Court beginning its new term today, plenty of the don et including docket including the battle over dreamers. Some of americas biggest countries saying the immigrants brought to the United States as children are great for the economy, they want to see it go a certain way. Your thoughts. The oral argument is tomorrow. It will be interesting to see how the two new justices, if they tip their hands by the questions that they ask. This is daca. This is president obamas decision by exe executive after congress res fused to enact the legislation he wanted to a allow the 700,000 young adults who came here as babies, who didnt have the choice to come here works are fully americanized and who are a part of American Culture to stay here. The Trump Administration wants to begin the process of deporting them and they have challenged this and this challenge is now before the Supreme Court. Heres the question. When the law leads you to believe that you are safe and comfortable and can stay where you are, can that rug be pulled out from under you with no notice whatsoever . Thats basically what the courts are going to decide. Stated differently, should these 700,000 people here these are not criminals. These are not lawbreakers. These are people who came here as babies who have gone to school, who work or are a significant part of the economy, should they summarily be deported needless to say i hope the court says no. There are arguments on both sides. The r argument of the drum administrations side Trump Administration says congress specifically said theyre subject to deportation and the president has to follow congress law law. The court has both arguments. Well hear it tomorrow. Dagen the court is going to be hearing literally cases on every hot butt torch issu button issu, whether gay rights, abortion and i hope they take up the gun case. It will be the first serious Second Amendment case theyve taken up in more than a decade. Well probably find out this morning if they take the gun case. This is the city of new york which pr prohibits people who lawfully own guns to carry ammunition from one part of the city to the next or into new jersey. Maria cy vance has been on the brahm and hes adamant on that. When the Supreme Court said they were interested in the case, they changed the law. They stopped enforcing it for fear that the Supreme Court will inp validatinvalidate the law aa floodgate of gun rights. Dagen a handful of senators wrote a brief, essentially threatening the court, threatening the Supreme Court, say they will stack the court if they hear this case. Im sorry to say that everything he says is true. The democrats, not all of them, a half dozen, all lawyers, have basically said to the Supreme Court go against us on guns and we will add people to your number. This would not happen in the Trump Administration. The president would never sign such legislation. Maria typical, more shaming and bullying. This is all in the long run maria a lot of bullying going on. When we come back, ge changing its pension plan, freezing plans for thousands of employees to cut debt. The stock is up on the news, 1 and twothirds percent. And kids getting paid, parents opening their wallets wider, well tell you where the average allowance stands right now. Back in a minute. Shout it, shout it, shout it out loud. Shout it, shout it, shout it out loud. [ orchestral music playing ] mom youve got to get yourself a new car. I wish i could save faster. Youre making good choices. Youll get there. Were you going to tell me about this . I know i cant afford to go. I still have this car so you can afford to go. I am so proud of you. Thanks. Principal. We can help you plan for that. Start today at principal. Com. Maria welcome back. General electric freezing Pension Plans with thousands of employs ease. Cheryl casone on headlines. Cheryl shares of ge are higher in the premarket right now. The news, 20,000 employees are going to bough a expecte be affe freeze. Theyre offering a lump sum Payment Option to 100,000 former employees who have not started to collect their pension payments. Now, theres a change for employees theres no change for employees already collecting their pension. Ge said the move is expected to cut the pension deficit by 5 to 8 billion. Good news for investors. A Security Breach at Orlando International airport getting a lot of attention over the weekend. A woman managed to sneak onto a Delta Airlines flight without a ticket, or really anything else. Then she refuses to provide legal id or a boarding pass to the flight you attendant or a. She tried to say a picture of herself was the id. Everybody on the plane had to go through security again. The plane took off for o atlanta three hours late. They are investigating how she got on the plane. It pays to be a kid. New hav survey shows kids are mg 30 bucks a week in allowance, a 38 increase from three years ago. This is from the American Institute of certified public account apts. 80 of parents say they expect their kids to work for the a allowance, mainly they have to do chores around the house. Normally, a workweek for a kid is five hours a week. Im thinking about this, i made 4 a week in allowance when i was a kid, so i was definitely underpaid. Thanks, mom. Maria well, theres inflation. So there you go. 30 a week, not bad. Quick break and then Luxury Real Estate in focus this week. We check out how hoe tell hotele inspiring a new way of living. All after this. Voya helps them to and through retirement. Dealing with todays expenses. While helping plan, invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. Thand find inspiration who win new places. Ct. Leading them to discover were woven together by the moments we share. Everything you need, all in one place. Expedia. To the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Call, click, or visit a store today. Maria welcome back. The ultra rich craving luxurious Living Spaces with flocking to someplace unexpected. Five star hotels, many futuring opulent res de residential rent. Joining us now is roger heely. Roger, great to see you. Thanks for joining us. Thanks for having me. Maria people are going to hotels. Explain it. It makes sense p. Its easy living. They obviously can live in a place like the ritz carlton, its a simpler life lifestyle. Theyre making an appealing play for people that have the financial ability to make it happen. Maria can you leave your stuff in the hotel room . Are you checking in and out every time. Its a hotel, so the mentality of living in a hotel makes it simpler. Weve seen people do it, like living in a condo in a hotel where they can purchase there. The hotel living is a new trend starting to off. Dagen its more difficult to get a mortgage on these condo hotels. It was nearly impossible after the financial crisis. I think you better have a lot of cash in your pocket if youre going to buy a condo hotel. Its not that easy to borrow money. Were seeing 30 down on Something Like that. Theyre not entry level purchases, looking at a million andahalf plus. Its a lot of second homes. People are not that excited to put the money down dis the lenders are not there. The restrictions on get a mortgage on these properties are photable. Its harder notable. Its harder when they have a condo element like in a separate tower, the dallas, the w, its harder to do it. Theres a tower dead kateed to residences, dedicated to residences, another tower to the hotel. It makes it more difficult. I remember several athletes going and theyd post up at a hotel for six to weight weeks at a time. It was more convenient for them because as you said, when it got time to leave, whether its the offseason and theyre training or part of the year where they may not have six months to stay in one location, and the livings there. A lot of people, particularly if youre an athlete, entertainer, you dont want to clean up every day, you want to order your food. If you have the means, it works out for some folks lifestyle. It does make it more difficult. Places catch a shortterm lease, which is why the hotels are making it a longterm play and theyre only allowing a six month lease or longer, maybe thats the answer. Thats a good point, roger many i wonder if that changes the trend in this. You mentioned the sustainability of like if its a trend, is this something thats really going to go for a while, you mentioned the athletes, jack. Im sure theres demand there. You mentioned lower Interest Rates have helped somewhat, theyve also not helped because the lenders havent been there. What do you think about some areas of the country with Better Business environments like in dallas, for example, florida, those are maybe areas that could sustain, yes . The places that ive done research on that show theyre doing this are placing that have a volatile market when things slow down. Florida, chicago, phoenix, those are the one thats we saw the rapid decline in. So maybe theyre trying to stay ahead of the trends with everyone talking about the Real Estate Market slowing down. Maria Mortgage Rates are down significantly from this time last year. How would you characterize the market right now in terms of real estate . And go into high end versus sort of midincome as well. Across the board, its still been great. The irony is that when they reduce the Interest Rates a couple months ago, thats when seasonally it slows down no matter how great or how bad the market is. If they would have adjusted the rates back in the spring or the early summer we probably would have seen a different kind of increase. Maria hows the supply in the market . Its stronger now than it has been. This is seasonal. People start to slow down. Weve found that across the board wherever we do stuff, whether new york or dallas, chicago, miami, this is when it slows down every year. People are preparing for the holidays, preparing for the new year. Its your classic supply and demand situation. Entry level, the supply is relatively low. I live in florida. And we are just seeing an influx of folks coming from new york to florida. I Coach Little League baseball and i coach football and the kids that are from new york are increasing every single season. Have you seen a lot of people moving to these places with no state taxes. Yeah, also places where you can have an allamerican lifestyle. A place where its less urban feel, like youre seeing this in places like florida and texas where you can have a bad yard, the ability backyard, the ability to play catch. Thats the millennial push, they are growing up, making decisions, want to afford something thats realistic. Maria they have a backyard and no state income tax. Thank you so much. Weve got the impeachment inquiry next with gop leader Kevin Mccarthy. Back in a minute. With zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero when i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. It is already working in cities like tokyo. Its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. I need all the breaks i can get. Line . Liberty mutual customizes your Car Insurance so you only pay for what you need. Thats a lot of words. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Good monday morning. Thanks for engining outstanding i am Maria Bartiromo, monday, october 7 top stories right now 8 30 a. M. 8 00 a. M. On a the east coast markets lower uneaseness ahead of china u. S. Meeting, happening on thursday, this week, this is the resumption of trade talks dow industrials down 60 points s p down 7 naz elect lower by 22 after last weeks well it was a down week but friday was a good day stocks rallied following jobs report 135,000 jobsed nasdaq higher for the week friday gains not enough to bring dow and s p out of negative territory for the week. Global markets this morning o mostly higher european indices we had more signs of a slowdown in europe this morning, weve got german factory orders declining 6 10 of a percent in august more than expected orders from inside germany down 2 1 2 2. 6, subpoena00 up 18 cac quarante up 9 dax higher by 26, in asia overnight, markets in china and hong kong closed for the golden week holidays 70 years communist rule celebration the others fractionally moving, suflts china trade tensions in focus this morning, china, says that it is narrowing the list and scope of possible issues that it is even willing to discuss, at this weeks meeting on thursday. Of the a look what the could be off the final when both meet thursday in washington coming up nba under fire from china chinese businesses cutting ties with Houston Rockets after its manager zprefd support for hong kongs prodemocracy activities in a tweets nba distanceing from marks the protests continues 1 straight weekends in hong kong stories coming up first top story this half this hour whistleblower controversy continues attorney representing the ukraine whisper says another person is coming forward with a complaint against the president. Blake burman at the white house this morning covering the story blake. Reporter maria, good morning to you that is right now multiple whistleblowers one of these whistleblowers is said to have firsthand knowledge of that july 25th phone call between President Trump and ukrainian president zelensky attorney tweeting out writing quote news up mate i can confirm report of a second whistleblower are represented by legal team made ab about provoke disclosure cannot be retall yaitdz against this whistleblower has firsthand knowledge jim heinz the number two glat democrat on house con tends they can not sit by idle longer. People around the president , he professionals in the will have a office who are in the situation, room, are watching what is happening, in finally saying my god this cannot happen anymore. Reporter White House Press secretary instead of known a grip ofak shrugged off reports of another whistleblower saying it doesnt matter how many people decide to call themselves whistleblowers about the same telephone call a call the president already made public, it doesnt change the fact that he has done nothing wrong. One of the president s top allies capitol hill Lindsey Graham saying on sunday morning futures that he feels the mounting allegations parallel Brett Kavanaugh kavanaughs extreme court nomination. This is cakavanaugh ail over does this second whistleblower if there is one are they within the Intel Community what is it about Intel Community and trump so off base here. At the white house we are await a letter from the president , to nancy pelosi that will challenge her officially hold a vote on impeachment inquiry this could happen at some point this week, the thinking here, maria over here at the white house is that the president is not being aafforded all legal rights that he would have, if there would be an official impeachment inquiry versus kind of state of limbo, that everything is in right now maria. Maria thank you. We will be following that blake burman at the White House Joining us right now with more on that congressional congressman House Minority leader Kevin Mccarthy leader good to see you. Thanks. You sent two letters to pelosi last week calling for customary rules procedures blabd for impeachment inquiry i know having inquiry in the Intel Committee is different than having it in Judiciary Committee can you explain. First of all, lets all past congress modern history before any impeachment they have an impeachment inquiry, why . Because it is such an important thing you are asking to remove which i did democratically someone about elected should not take lightly everyone lends voices to 435 people everybody should have a voice sets rules clinton, nixon judges, a fair process. Right now the minority does not have the right to subpoena power, the pete positioning counsel cant be in the room, they moved it from the jurisdiction of having it from judiciary to intel so now they have a hearing, you know who gets to control who gets to come in room democrats tell us how many republicans are allowed in how much staff is allowed in. They dont allow us to set witnesses. They want to impeach a duly elected president behind closed doors. Exactly, and if you would release the transcripts of the hearing from last week i think American Public would again say, in this facade end this. All about politics what happens they released just one or two texts to make them look got a instead of letting factualness speak nowhere in architecture would somebody go to trial without able to have a witness not able about to crossexamine have fairness that is what nancy pelosi is doing going against with al better did speaker Newt Gingrich did unheard of, in the process it goes to the fact that this is all political. Maria so we saw that this last week, because atkinson in a hearing behind closed doors kurt volker behind closed doors hearings, you know Little Things leak out i guess, and it i am hearing that the testimony basically put this impeachment you know idea just busted it because of what corey said we dont know closed doors. Verify can when you talk to members in there there was they were questionclear about n pro quo stated facts did for nine hours the ig i think is very important another demon denominator adam schiff stardz out telling us approve beyond circumstanceal. Plain sight. His staff met with whistleblower about the whistleblower goes toig, Inspector General never mention that he meted with schiffs staff they are now fact witnesses if we had subpoena power we would call their staff and adam schiff, as one of the witnesses what did you talk about about what was said how many times did you speak . They cannot be a prosecutor there is no where in american judiciary that allows an individual, that is a fact witness, to become the prosecutor. So do you believe the president will be pushed out of office . No. Because and i read about this second whistleblower, you and i have more knowledge than the first whistleblower, america we have a transcripts. Exactly so what more came out . There is nothing in that phone call that is impeachable, or that he did wrong, every day we work with other countries, to solve cases. Yeah. There is an open case, about what happened with this russia coup they want to try do do in america the attorney general has an open case about it, the world knows about it. A lot of that started in ukraine and trying to find the information about it. Maria that is why i think this is really what this is about, the democrats are going to do anything they can to stop will yar Barr John Durham from uncovering what took place in 2016. Miami barr i respect the man greatly believes in rule of law going to follow it unfortunately, the democrats in congress do not believe in the rule of law they are trying to discredit democracy, think about what they are doing, they are going to tear the fabric of america apart remove a president . With no basis, if the speaker of the house nancy pelosi had waited 48 hours had that transcript we would not be in this nightmare we are today. What are you go to do about this you are the republicans trying to get work done usmca in the balance you got a meeting with china on thursday. Trying to do a deal there, youve got immigration Gun Legislation all this nothing gets done . The democrats have the majority so they can control what comes forward they should be doing usmca, United States mexico and canada, mexico already ratified it canada is waiting us on, weve got a meeting with china coming up, a month and a half ago mexico became our number one trader canada became number two would be stronger in negotiations with china, but they are more concerned about tearing the president down, than building america up. Talk china for a second basketball backlash going on this morning hoouvent rockets general manager under pressure put out a tweet supporting hong kong protesters caused a major uproar in china rockets extremely particular they want that Market Access, chinese sponsors, businesses all pulling support from the rockets, nba spokesperson responded this way, the values of the league support individuals educating themselves and sharing their views of matters important to them we have Great Respect for the history and culture of china hope sports nba can be used yoga he yufying force to bridge kroult give they rolled over removed tweet saying we didnt mean it because chinese government, is is on the rockets, to stop supporting the protesters. I have one question for them do they stand for freedom or do they stand for money . Americas more than a country america is an idea, just like in 80s Shipyard Workers rose up in poland they believed in freedom, youve got a large percentage of people stacked up in hong kong, every saturday peacefulsh peacefully protesting for free dom of speech houston rocket gm should be cell braidz understands what america means understands what freedom means if fold to sclooin in idea they just want a bigger market share that is concerning to me what the world will look like in future. It is a bigger issue for are Corporate America right because ceos for a long time just wanted access to sell goods to 1. 4 billion people but in process gort about protecting products. Tiananmen square why dont you stand with a man who stood in front of the tank what about how this country was created . Does that mean at the end of the day they will fold over for the freedom and rights of what dooemz to be american because they want to earn a dollar. Maria what should be think about military parade we saw in china the other day . You know, you talk about National Security, i know not publicly about it you are you know understanding the issues with regard to china and risk to america and our National Security. Last week theyve got military parade, celebrating 70 years communist rule with a missile has range to hit yu statements. Hypersonic in Obama Administration he cut funding when it came to hypersonic so important we have impeachment dont have usmca 24 president trying to rebuild military we dont have the appropriation why congress cant do work move forward we need that investment the make safer china celebrating 70 years in 2049100 years they believe one world power a clear message to us, wouldnt be we be stronger in negotiations with china when it will comes to trade if we had usmca done before President Trump has to sit down with xi jinping . You are making us weaker in this whole basis, they are making every president in future weaker by having to show a transcript, of a conversation he had with although world leader. The democrats are just focused on politics instead of focused on this country. Dagen l. Maria do we want every kvrngs president has with foreign leader. What foreign leader is to go to be honest you cant say anything could you talk to a friend if everything you say is going to be a public transit. You you want to be able to have that a trust, and right now the democrats of put america into untrustworthy place want to dis cled democracy movie snb from office they did not like the outcome of the 2016 stleks. President had a huge money raise 125 Million Dollars last quarter how are you feeling into 2020 can the house reclaim majority in 2020. Yes, i want viewers to know this 19 feet to put republicans in majority there are 31 seats that democrats currently sit in President Trump carried, 13 of these are read carried by more than 6 points another 18 then in seats didnt winnable to play in today. We will leave it there we will be watching. I think good to see you, quick break still ahead this morning going to speak with founder Palmer Luckey is here host of Varney Company weighs in uber getting upgrade citigroup lifting rate to a buy tough couple months mighting optimism on Revenue Growth up 3 on news future of offshore wind farming a closer look threat for commercial fishing industry. Back in a minute. 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. 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Maybe ill win saved by zero upgraded from citigroup on the floor of the New York Stock Exchange with details there jackie good morning. Good morning, to you maria you can see the stock is trading as you said up 3 premarket this is because citigroup upgraded the stock, to buy improving fundamentals 45 dollars to surgeon ipo price still trading well under that citi says Third Quarter could signal renewed Revenue Growth investors want top line they want bottom line as well the profitability this analyst saying value of uber may not properly be reflected in the price it has been rocky for uber as i mentioned i want to move on talk about pay, as well as facebook, and linera paypal said it is pulling outlines of that Digital Currency projects First Company to do this didnt give explicit reason why said it was supportive of libras goals that it would focus on its own Business Model which is probably sound thing to do paypal shares slightly higher facebooks slightly lower facebook revealed project libra in june scrutinized because regulators worried about how to integrate. On wall street coming up speaking with the founder of industries luckyy take on hong kong crisis at Houston Rockets general manager sparks a major uproar in china future of offshore wind farming a look threat for commercial fishing industry all ahead back in a minute. We gonna. dramatic orchestra performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year on your wireless bill. Plus, get 250 back when you buy an eligible phone. Thats simple. Easy. Awesome. Call, click, or visit a store today. Tax credit to expire could jeopardize offshore wind farming news correspondent here. Thank for having me great to be here that tax revenue set to expire the end of the year this summer interior department announced a hold on offshore wind projects until a cumulative analysis is conducted delaying potential approval of first large skae offshore wind farm win yard project until december 2020 without that credit the entire future of Vineyard Wind in doubt one pleased with this development fishing, here is why. As a family business, it is a lot of pride, my grandfather was a fisherman my dad hopeful some day my son would want to do it if something doesnt chaen i dont even want him coming on the boat. Last time we spoke with connecticut commercial fishing captain williams he was worried government regulations would kill a business in family four generations now facing a new threat offshore wind farms. If these offshore wind farms projected areas being leased are built, it is over for commercial fishing. It is growing First Wind Farm installed in u. S. In 19308 now there are more than 200 wind farms providing 6 1 2 of the electricity more growth is expected specifically in our nations ocean, in 2016 first xhrl offshore wind farm began operations with five turbines off block island in rhode island according to the association 10 more famz could be up and running as soon as 2024. All right this is block island. He drove us to get a better look you say say five windmills who cares could be start of thousands of these up and down the east coast of the u. S. Some of them much larger than you see in front of you impacts not the same as impact from 500 or 5,000. However there have been impacts. Where are they seeing impact . On the fish . Fish have different habitats they have certain migratory routes they repeat year after year after year when you put wind farms, on those places, those fish are definitely most certainly impacted. On the boats we are trying to navigate now we have to avoid a base to a windmill. Most concern wind farms affect on radar. We watched it happen. These right here are the five Wind Turbines looks like 20 here when only five right here the interference. Costs of the windmills outweigh the benefits of it. Proponents of the wind farm say the farms environment and advantages needs to be taken into consideration connecticut one of 15 states with plants to add wind farms to shores. Connecticut is excited to be investing in offshore winds, we are he directing project he developers to ensure they have Adequate Funding for surveys and for monitoring, we know they are going to be driving investment in manufacturing and construction jobs. Fishing industry responds. The it is easy to look out to ocean think endless it is not endless we are going to get displaced not only fishing grounds, certain boats will go out of bit. If you think just fishermen worried about windmills think again coast guard, departments of energy homeland faa noah looking into radar interference ships are experiencing could become a National Security issue, in addition to a fishing industry environmental scientist issue. Maria wow. Interesting. Reporter i thought why cant do you around they explain there are a lot more factors at play i am not antiwindmill i live in area palm springs, california a lot of windmills there wasnt a National Defense issue no concern Orange County was going to invade Riverside County at any point while i was in california National Defense concerns on offshore wind farms are concerning. We will see you soon, coming up i will speak with founder of Anduril Industries palmer luckyy his take on hong kong crisis it is a huvent rockets gm major uproar in china streaming wars heating up disney banning netflix advertising from all its networks breaking this down, back in a minute. Is where people first gathered to form the stock exchangeee, which 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. This is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. [ [ tires screech ]playing ] mom, youve got to get yourself a new car. The cars fine. [ car horn honks ] i wish i could save faster. Youre making good choices. Youll get there. Got it . Yeah. Thank you. Bye. Were you going to tell me about this . I know i cant afford to go. You cant even afford to get yourself a new car. I still have this car so you can afford to go. [ music resumes ] im so proud of you. Thank you, mom. Principal. We can help you plan for that. Start today at principal. Com. Maria welcome back, good monday morning thanks for joining us. Im Maria Bartiromo. It is monday, october 7 your top stories right now 8 30 a. M. Own the east coast, there are concerns, this morning, about the u. S. And china trade talks, that, of course, is happening this thursday. And there is a new look at it because china says it will narrow the topics that they are willing to discuss on thursday. To trade and not looking at any part of economy maintaining intellectual property theft markets off lows dow industrials down 49 s p down 6 nasdaq lower by 18 Global Markets look like this, european indices mostly higher there are more signs of a slowdown in europe, german factor orders down 6 10 of a percent in august worse than expected, german down 2. 6 asia overnight fractionally moving markets in china and hong kong closed, forward holidays golden week our top story, baseball backlash over hong kong protesters Houston Rockets gm under pressure over a tweet supporting the protesters causing a major uproar in china where rockets are extremely popular chinese sponsors businesses pulling support the nba responded to criticism from china quote the values of the league support individuals educated themselves and sharing their views on matters, important to them we have Great Respect for history culture of china hope that sports and the nba can be used as a Unifying Force to bridge Cultural Divide according to nba its response to chinas upset, general manager tweet of the Houston Rockets joining me founder of Anduril Industries Palmer Luckey, it is great to see you thanks so much for joining us. Good to chat with you again. Last time we spoke i came to an Dural Industries showing me great technologies drone zone your company produces i wanted to get do that reason we began on hong kong protests what took place with Houston Rockets, is because you and i had this conversation before about American Companies not seeing china as an adversary but focusing on Business Opportunity in china what is your reaction to that . I mean we have a big problem biggest Damage Companies in the United States china biggest Revenue Growth opportunity a lot of smaller Tech Companies see china as a Huge Investment opportunity, that china chinese money is going to flow into their a Company Company make decisions based on on this often say doing things for one reason behind scenes actually being influenced dire work with chinese over american interests noted good for our country. We talked about two of us, rental earlier thi can recentl company got projectman of contract i know you worked for government on lots of project google walked away from that going employees balked at Company Working with uchlths government now google as a. I. Lab ailab jewel of all Artificial Intelligence is is at google that lab is in beijing your reaction . I mean i think i a big problem big problem not just u. S. Companies going to china it is the United States many ways, is behind, that is why i started my company because i want to build a Defense Company that was unapologetically hiring best people to work on National Security problems, you know obviously, i am concerned about other big Tech Companies in many ways working for the other side. I want to ask you about that you are tech genius sold oculus to facebook you created Anduril Industries unveiled drone given role drones play in modern warfare tell me about technology you are making to take out larger uavs, the system you are talking to a drone defection and able to dweblth drones over military paes Critical Infrastructure send our current drone to knock it out of the sky really important u. S. Has this technology we cant allow the skies over our military bases our Critical Infrastructure to become wild west the same goes for a lot of the bases Critical Infrastructure of allies we make sure that we can protect our airspace, from threats because you are already seeing, attacks in saudi arabia, afghanistan other things that are not necessarily public yet, and this trend is only going to accelerate until we have control of them skies we have to be a more afraid of drones than we should be. Tell me about that, the Administration Says that it was iran, behind the attack on the Saudi Oil Facilities but that was done by a drone. Right, i know i dont know who did it that is not my area of expertise my area of expertise making sure tw attacks like that dont happen knocking those drones out of the air before they attack your the target not afterwards, we can do all investigation we want, but in a Perfect World this attack never would have happened we never would be talking about it wouldnt be a thing worth discussing because it would have been stopped in its tracks by a sm like ours. Why it is so important brings me back to china, because china is using Artificial Intelligence very effectively, we are using a. I. Why i did one hour special that anduril yourself featured in my a. I. Special if china can have a. I. Basically tells the chinese, our troop movements, our Weapon Movement this really speaks to the National Security that we face as a result of china and its and its goals to get become the largest superpower. I mean not able to beat china by building faster architect better hardware even if they equivalent hardware, slightly better, if better Artificial Intelligence to respond coordinate using iggy azalea we are going dooeb in a really bad place we need to make sure that we match a, then surpass china the goal not that we get into a huge conflict beat them it is to be so strong they know they cant get into a conflict with us same way that having a strong counter drone system dooerz people from trying to attack u. S. Drones having a strong Artificial Intelligence strategy, counters the abilities of people, to use Artificial Intelligence, to even contemplate attacking us. Do you feel the u. S. Does have that palmer what can you tell us about the Defense Industry today in terms of the wherewithal money laetsdz to defense yiechs drones versus or adversaries like china. Right now u. S. Defense Companies Main contractors do not have technology, or the tools or the talent to build these types of systems they dont have the best Experts Computer vision Artificial Intelligence Machine Learning Computer Vision those are at these the best talent in the world is Companies Like google, facebook, snapchat one of the things my company is trying to do take people out of those places putting them on to work, on problems that are actually going to be critical importance for our entire country. Maria yeah, and you have done it by working with governments not just u. S. , but cross the world anduril valued more than a billion dollars in recent fundraising round tell us where growth comes from anduril what you are trying to do here with this company. I am trying to build a major Defense Company, is a Products Company not contributor i want to save taxpayers Health Insurance of plnz of dollars make tens of billions every dollars do both Building Technologies that keep memo who keep our country safe making sure american interests are protected long into the future no matter what the technology does. You know one of the issues in this whole china fight is the fact that we have ethics in this country they dont. We talked about that a lot. Maria exactly we have ethics you dont want to make the last decision in terms of of the kill decision left to machine right . So talk a little about ethics in terms. U. S. Versus china as we look at chinese theft u. S. Researchers on front lines of the battle against it now chinese are saying with upcoming meetings on thursday we are going to put intellectual property theft on side dont want that to be a topic in thursdays meetings. You got to heart of the issue this is not just a problem with the way that Artificial Intelligence is p deployed the way it itself developed china ethics such willing to steal our technology and our Countries Technology and develop themselves they are then willing to gather tons of Training Data for Artificial Intelligence, by surveilling entire population monitoreding everything they do, and at the end willing to deploy systems that countries like United States, would never want to deploy u. S. Is a really good policy around making sure that a person is always responsible for what systems are doing china can afford to play more fast and loose because if you criticize them you are going to prison you are going to be disappeared or end up in a camp that is not a problem that we have here in the United States, the strong system is ethics and accountability that we have in u. S. Very important for us as kwaun to maintain who we are, but whether does put us at strategic stager disadvantage can go what it wants whenever with no accountability. I dont know if Corporate America understands that very well frankly they are more interested in Market Access getting products into the market of 1. 4 billion people just look at facial recognition how chinese is that . In hong kong, china is trying to get those facial recognition cameras up and running again they knocked one down so they can identify who is at protests saying no mores masks demanding protesters do not wear masks they know there will be consequences for whoever is seen at those proests. Not just in hong kong it is around the world china is distributing technology, to countries in asia, in africa that will allow those countries to build to Totalitarian Police states the hope they make countries dependent on china you know, somewhat similar to the way soviet union deployed Technology Weapons to their partners around the world, to try to bring them over to their world view what china is doing is far more dangerous makes countries, not just dependent on china but also gebt on chinese world view that you need to surveil citizens control your citizens, and remove the elements that you dont really like that is something that we dont believe in in america our allies dont believe in we need to make sure that we are able to stop this stlaet. Threat what is your that i can on technology in connection with them regulation the privacy aspect of it then the antitrust and power aspect of it. Because you are looking at companies more powerful than theyve been i am talking about facebook and going and others right now are caught in the middle of the debate on a how much regulation Technology Companies should face, what is your take on this . I mean i lean libertarian generally not fan of stronger regulations for over private Sector Companies i also think government has given a lot of special privileges to tenning companies reexamine when it makes sense to give special privileges that no other sprooifrts have should we give them special government advantages immunity from lieblts that other Companies Deal with i think the answer there a lot less clear. Really important point that you make the point that devin nunes has made, a congressman suing twitter, because he calls them a content creator, and in fact, they he was victorious in most recent trial over the weekend, with twitter caught they say no, we should be he shieldeded from lawsuits we are just a platform we are not a media company. Right i think if you exercise look i am okay with companies censoring all they want on platforms but if you are going to centsor ideas say certain people ideas are not allowed i dont thigh government should give you special electricity protection they are meant to preserve free speech encourage open debate and discussion, i am not fan of regulation, i am a fan of the government not giving special advantageous to one time of business over another when it isnt accomplishing good. Court decision friday devin nunes team won on all fronts trial will move forward with twitter let me ask you about border i know you are drones used at borrowed you see activity president did partnership with mexico, partnership with guatemala have you seen the numbers come down in terms of apprehensions at border what can you tell us. I cant talks spechlz like that you have to customs and border protection. Across Health Insurance of square miles i think that what you see is that when you put technology into a place on the border typically pattern we see apprehension goes way up as soon as you are able to see everything going on then they plummet to will become nothing as soon as cartels figure out they cant get through in that area. I think when a we need to do take that approach apply to the swier border you know what this not viable for us to just rin thousands of pounds of drugs across remote unsecured areas, obviously, still coming through other ways through the ports, try to smuggle in in carton containers allows us to focus requires on a few key ports of entry rather than thousands of miles of unsecured border so it that is one of the things we have been doing with the helping to be part of that solution. Showing video i took show to the border it was stunning what we witnessed palmr you are a patriot great to have you on the program congrats to you thank you so much. Thank you i keep doing my best. We help you come back soon get a to talk with you Palmer Luckey founder of Anduril Industries the battle over media giants disney dueling out with next next banning all neither flick heads from all Disney Networks escalating feud wars coming up stoke letter ge getting a boost announcing it will frees Pension Plans for thousands of u. S. Employees, the move expected to cut Companies Debt up a quarter percent back in a minute. Welcome back media focused on impeachment whistleblowers what about 2020 stated of Democratic Candidates joining us host of Varney Company Stuart Varney to weigh in good morning. I dont know why i am smiling first thing you do wake up on monday morning look at media, you look what they are saying about impeachment and whistleblowers all that stuff then you got to ignore it look below that what is really going on in 2020 campaign. To me, the democrat president ial hopefuls in a mess a right royal mez joe biden has oped in Washington Post in which he says he is going to beat President Trump like a drum end quote. He makes no mention whatsoever of hunter biden the problems with conflict of interest who else we got Bernie Sanders god bless him we wish him well recovering from a heart attack, not sure how emaialley into a campaign true Elizabeth Warren gang ground couple key states reports this morning, that some key donors are balking dont want a socialist at the head of the democrat ticket Kamala Harris 8 support among California Democrats home state 8 support in her home state. That is looking lying a mess. I wrap it up for you maria i dont think they can win i dont think they are going anywhere i dont think impeachment is successing all the oxygen out of the campaign. Lindsey graham sunday said to me it was the most he consequential week of the campaign because of all reasons you mentioned. He is right. More in 10 minutes we will see you then join stuart in 10 minutes time disney duals with netflix weve got it next banning netflix ads from all networks we wreak down the battle of the media giants right after this. Give a little bit, give a little bit of your love to me val, vern. Im off to college and im not gonna be around. Im worried about my parents retirement. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. Without me . Um. And when we knock out this wall imagine the closet space . Yes oh hey, son. Yeah, i think theyll be fine. Voya. Helping you to and through retirement. Fever pitch disney reportedly banning all netflix ads 247 morning anchor good to see you it is this may be the first shot across the bow in the streaming wars i am calling its over next couple months we are going to have 6 to choose from disney plus col cast pekok hbo Netflix Hulu Netflix 8 800pound gorilla over 100 million subscribers worldwide they are seen as the largest target for all of these competing services, with a we have seen, since disney plus announced that they are going october launching streaming service a lot of content slowly being yanked off netflix content disney owns comcast did same thing everybody is very concerned the office is leaving netflix causes going to the i think comcast calling it peacock that is streaming service so this is going to be interesting now disney saying we are not going to run ti. S for netflix. They say netflix doesnt run advertising true sometimes written in the show feels part of content not like inyourface first salvo. The ones to beat, where is amazon. Amazon in picture i guess seven amazon has prime video won a bunch of awards kind of interesting emies streaming platforms Cable Networks winning awards not Broadcast Center networks cbs all access, there is all people waiting to take your money every month. To provide you with content and used to be great netflix has everything pay one fee easy now overwhelming. A lot passwords payments how about consumers going to respond 8 or 9 options subscribe to all, half sisters subscribe to half share passwords you should not do . Right that is what is going to happen here in the everybody going to be fighting for eyeballs. Thank you catch brett every morning 247 siriusxm radio 115 final thoughts from this allstar penanel back in a minute. 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 welcome back. Final thoughts, jack . Just got back from chester, p. A. The four killings in the last three weeks, each kid got to go to school each day, folks in the neighborhood getting shot. We covered these Mass Shootings for some time. We forget about the inner cities that are being ripped up with all this gun violence. So all i say is just lets focus on americans, americans first. You are a super hero. Thanks for all you do. Appreciate it. Take it away, maria. Maria phenomenal panel. Have a great day. Varney Company Begins right now. Stu, take it away. Stuart good morning, maria. Good morning, everyone. Right from the start, lets be clear. In a market like this, expect some wild swings. In other words, the way stocks open this monday morning is not necessarily the way stocks close this monday afternoon. Impeachment, whistleblowers, oh, yes, all coming at you today. Let me start with what is assumed to be a big problem for investors. The chinese have taken some issues off the table for this weeks trade talks. When that news broke overnight, the algorithms read the headline and the word was sell. So where will we open this morning . Only a little lower. Remember, the dow was up 370 on friday. It will be down maybe 50 at the