Transcripts For FBC Mornings With Maria Bartiromo 20240713

Maria we have a big show this morning. Joining the conversation, Deirdre Bolton is here this morning, real clear politics cofounder and president tom bevin and pwc partner, mitch rochell. Thank you for being here. We have a market under pressure as a result of some i guess digestion over this trade deal. Take a look at the markets where were looking at a triple digit decline this morning for the dow industrials. Bloomburg is reporting that china wants more talks before signing phase one of the strayed deal. The u. S. Trade deal. The u. S. And china made progress on friday. China agreed to buy 40 to 50 billion worth of Agricultural Products while the u. S. Will suspend a planned tariff increase set to go into effect tomorrow. Beijing addressing currency and Financial Services concerns but setting aside issues like intellectual property and forced transfer of technology. Senior counsel to the president Kellyanne Conway spoke with me yesterday and heres how she saw it. That would be two andahalf, three times what china had purchased at its highest point thus far, so they were purchasing 16 or 17 billion at the highest point and that will be brought up to 40 billion to 50 billion corks i so id se farmers have to go buy more land and get bigger tractors. Maria can this deal stand with the chinese just buying more stuff wit from america . What about thelowing, because trade was off. So if we chip away at it, i think its a good thing for businesses so at least they can plan. The problem is that big thorny issue is forced transfer of technology and ip theft is a really thorny issue and no one knows if thats going to get resolved. Maria heres what i got yesterday. Apparently there was an entire chapter on intellectual property theft in the first deal back in april when the chinese reneged. Theyre working with that chapter. To me, this doesnt look like theyve made a dent at all in the intellectual property theft, nor in the forced transfer of technology. Dont forget, the chinese have to go back on their own soil and get this, as the president calls it, papered, in other words, down on paper. We havent seen that. Were going to wait. Thats just time will tell. And i guess the interesting stuff about this is the Financial Services industry. No longer will foreigners be forced to take a 49 stake in a joint venture. They can own their company out and out. Those limitations are being taken out. So thats certainly a positive. But overall, it looks to me like this is a deal but nothing that you want to celebrate. I was in dc as we know on friday, and so when we were talking about phase one deal, one of my friends said deirdre, just so you know, this is translated as pause, as in pause in the trade war. And that was right as soon as the headlines started to hit. I think thats basically backing up what youre talking about and then with this Chinese Securities Regulatory Commission saying, yeah, if youre a Financial Company and you set up on shop on the mainland january 1st, 2020, were not going to force you into a joint venture which is how the ip theft happens. I was wondering if that was not in a way an effort to hurt hong kong, right, because hong kong is really the western Banking Center in asia. So if china makes it much easier for American Financial institutions to be on the mainland, i dont know if theres just as much reason then to be in hong kong Going Forward. I feel like it killed two birds with crossed into north korea. We are seeing this spread. It is a lot worse than anybody understands in america, in my view. Look, i think what you saw was both parties wanting to come to the table. In fact, needing to come to the table and announce some sort of victory. Obviously trump is looking at his reelection bid and the farmers are a big part of that thats why i think he went out of his way to make this phase one and you announce this and promise more down the road so people have the sense that things are getting done, big issues will be tackled at some point. He needed a victory, he needed to show he would deliver for the farmers and it looks like thats the case. Maria well see. In the next couple days and weeks, we will get a better understanding of where china is on this, if in fact they put this stuff down on paper. And where is phase two. So weve got that. Thats whats pressuring the markets today. On friday, i think the news of a deal got everybody excited, market rally, up 600 points by the close. Were seeing selling continuing this morning. Progressive democrats battling it out. Senator Bernie Sanders sounding off on senator Elizabeth Warren, trying to differentiate himself from her views on the economy. Watch this. Hell is deat elizabeth cof iherselfto be a capitalist to t. I will not tolerate for one second the kind of greed an corruption and income and wealth inequality and so much suffering a that is going on in this country today which is unnecessary. Maria tom, your reaction . It gives you a sense of where the Democratic Party is and bernie is. Capitalist is a dirty word, thats an insult hes throwing against Elizabeth Warren. Elizabeth warren, if you look at the most recent polls, the early states, the Real Clear Politics National average, he ims she is basically tied with biden. She is going to receive the kind of scrutiny and attacks from biden and from sanders that she hasnt received up to this point. So it will be interesting to watch that play out. Maria i would like to see if theres one word mentioned about the economy tomorrow night. So far, its not a subject. No matter which party youre in, if youre independent, you cannot deny that so far i mean, the stock market has had amazing returns, unemployment is near historic lows, theres tons of factors that support that. Maria theres also conversation about a recession happening, you should be able to hear some economic proposals from one of these guys on stage. We havent heard it yet. Im kind of curious as to Elizabeth Warren, looking at an independent vote for example. She seems too far left as it stands now for the people who i dont know whereby den is or where hes going to be but the people who could have gone for biden, she is far left of him. If bernies attacking Elizabeth Warren, does Elizabeth Warren have to more more to the left to justify that shes more progressive or does she tack towards the middle and say you know what, theres a place for business and theres a place for profits and so far, her message has been aggressive towards the Business Community. Correct, 100 . Maria how about joe biden. What will happen to joe biden tomorrow night. Will he get questions about hunter biden. The news of course yesterday was that 00 deer biden is going to hunter biden is going to be stepping down from the private equity firm that is backed by beijing. Will bernie im sorry, will joe biden be asked about this tomorrow night . What do you think . I dont know. Unless the mo moderators do it. The complaint with biden isnt about hunter biden, the attacks on hunter biden, most democrats think its not true, nothing was done wrong. Theyve been critical of biden for not pushing back harder against those attacks by trump. This was seen as an opportunity to stand up to trump and he failed that test. It took him a couple weeks before he came out strongly against. Now hes calling for impeachment. Unless the moderators ask, i dont expect the democrats to bring it up. Maria does the fact that hunter biden says im going to step down, does that indicate there was wrongdoing there . Is this basically admission of what President Trump has been saying . Remember, if youre going to say, well, look, im not going to have any Foreign Ownership if my father becomes be president , if you think thats improper, then what do you have to say about taking 1. 5 billion from china while hes Vice President or 50,000 a month from ukraine. Dont forget, biden said chinas not a problem. Why is everybody making a fuss over china. Now hes got china right in his family. I think from a pr standpoint, his son is probably like okay, this is just cleaner, im not going to comment on whats legal and not legal but its cleaner if im not involved anymore, period, paragraph. Maria maybe. We want to get back and come right into earnings. Were Getting Started this morning. Also on deck, Washington Examiner hugo girden is here talking about key testimonies on cacapitol hill this week. The ceo of cisco joins us. Mitchell hursto m this here on the partial china trade deal and Steve Scalise joins us on the impeachment inquiry. Were going to take a look at Third Quarter earnings which are going to begin this week in earnest. Coming up, syrias army moving troops to confront turkey as the u. S. Pulse out of the region. Pulls out of the region. Weve got details. Soft bank looking to support wework with strings attached. Thats when we come back in a minute. Can you turn around. Can you turn around my way. I get it all the time. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. 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. Maria welcome back. The threat of violence risings in Northern Syria this morning. Lauren simonetti with headlines now. Lauren good morning, maria. Syrias army deploying troops near the turkish border. This sets up a potential clash between turkey and syria. The u. S. Appears to be moving towards a full military withdrawal from syria. Hundreds of protesters after a woman is shot and killed by a Police Officer in her own home. Officials say the texas officer responding to a welfare check did not announce himself as a cop before firing. Body cam footage capturing the moments leading up to the death. Police say the officer felt threatened. A gun was recovered inside jeffersons home. The officer has been placed on administrative leave. Jeffersons family now calling for murder charges against that officer. And softbank may rescue wework after all. The wall street journal reporting that the Japanese Company is drawing up a financing package that would give it control of the struggling office space rental company. Wework is facing a cash crunch after the paint company canceled Parent Company canceled the plants for an initial public offering. Wework asked jp morgan to look into how the company could raise billions of dollars in debt. Maria lauren, thank you so much. I guess if you are going to get softbank to rescue this company, that further sidelines newman. If youre an Equity Investor in a company, youre going to put debt in ahead of your equity to save the company, just logical, makes sense many theyre doing what they have to do to protect their equity investment. That will probably give them more control and theyll have more say over who is running the company and how the company is being run. A rep you pe reputational hg at this company, 10 billion the original valuation was 47 billion, three months ago. This is a pretty quick trajectory down and i think this may change a little bit the culture of silicon valley. We looked at these founder as just, okay, they cant be questioned, this is his style or her style but i think actually wework really calls into question at this point i think it challenges some of the unicorn valuations. Maria for sure. They are up there. Theyre up there. Maria well take a break. When we come back, earnings season is kicking off, many banks are reporting this week. We take a look at the numbers as we are expecting them for the major banks and the impact on markets. Plus this, the end of fortnite, gamers worry what the explosive Season Finale could mean. Well tell you all about when we come back. Stay with us. Mama said there would be days like this, thered be days like this my mama said. 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. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on 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. Liberty mutual customizes your Car Insurance, iso you only pay forg in cwhat you need. Yo. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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. Maria welcome back. Markets are lower this morning, take a look. Dow industrials down 110 points, we are a awaiting the start of the Third Quarter earnings season this week. Big banks are among the first to report. That will give us a glimpse into the impact of the federal reserves recent rate cut decisions, also the slowdown in the economy if it is persisting. Joining us now is chief investment officer, hank smith. Thanks for being here. Good morning and happy columbus day. Maria thank you so much. Right back at ya. Happy columbus day. What are you expecting in terms of Third Quarter earnings, hank . Look, i think as they have in the past handful of quarters, theyre going to come in better than expectation. I believe consensus right now is for down 4 and we might even get a positive handle maybe up 1 for s p 500 earnings. But frankly, the markets know this. I dont think theyre going to be there are going to be many surprises and in this low Interest Rate environment, low inflation environment, we dont think Quarterly Earnings are as important as often they are. Maria and of course in a moment in time where youve got the china story which is moving markets every day, friday we had a 300 plus point rally, today were down, its a partial u. S. China trade deal put together on friday, china wants to talk more before signing off on it. Theyve gone to go back to china to try to get this on paper but its not on paper yet. Theres uncertainty over the next round of tariffs which are set to go into effect in december. But the chinese were effective in getting those tariffs to pause, the president was going to put them into effect beginning tomorrow. Whats your reaction to this trade deal . Well, look, the markets were pretty positive at the end of last week but they need more clarity and trade and tariffs are the number one issue thats driving this market and hopefully we are going to see more certainty replace uncertainty as we move toward the end of this year and beyond china, we also have the european auto tariff as a potential headwind. And trade agreements with india, we did ink a mini trade agreement with japan. But this market and by the way, the economy as well needs some more clarity and the fog of uncertainty regarding tariffs and policy and then i think you can see the economy pick up in 2020 and the market right along with that, which is perfect for the election coming up. Maria to get that uncertainty out of the way. Because the u. S. Is planning to ramp up tariffs on european goods and thats actually this month. The tariff being used as sort of a wedge to get the negotiations started, knowing that if counterparties start talking, we can pull the tariffs off. Hank, im curious about the uncertainty you mentioned in the eyes of corporate managers, because one of the things that we may see with the Bank Earnings is an increase in lending. We lowered Interest Rates by half a point so maybe that gets businesses to borrow more. Do you expect to see in the earnings season any indication that businesses are doing anything other than sort of sitting on sidelines, waiting for this trade war to show an end game maybe . Yeah, i do think youre going to see some commentary around that. But, look, one of the missing ingredients in this 10year expansion has been business investment. We saw it started to pick up after we had the tax reform and Regulatory Reform but it was quite fleeting because all of a sudden youve got the uncertainty around trade and tariffs. But you remove that uncertainty and we believe theres pentup demand for business investment, capital spending, and we think that could be the driver for an acceleration of gdp growth in 2020. I heard you say uncertainty is the most important factors in investors minds right now. Im looking at the Third Quarter earnings as you mentioned, slated to fall if you look at this quarter versus this time last year. What about sales, though, we actually have an increase of 3. 7 in sales which to me is actually even more of a sign than the earnings, because the earnings you can always manage, you can kind of squeeze profitability but sales are sales. Is that too optimistic a take, in your view . Well, i dont think so. Look at the consumer. We are an economy that is driven 70 to 75 by the consumer, Consumer Spending and services and the consumer has never been in better shape. Weve had five consecutive quarters of real wage growth after inflation, wage growth. We have consumer savings at 8 , a level associated more with recessions than with a 10year expansion. And the consumer is healthy and is spending and Consumer Confidence, despite all of these uncertainties regarding tariffs, Consumer Confidence remains elevated. So that is the driving engine for this economy and thats why we believe a recession is still a very low probability event over the course of the next 12 to 18 months. Hillary you want to buy stocks here . Youve got a partial deal with china. That rallied investors friday. The most recent gains are due to investors focus on safer sectors, quote, unquote, real estate, utilities, those sectors are paying dividends. Do you want to own stock . Where do you allocate money here. We definitely want to own stocks. The market is attractively priced, particularly given the levels of inflation and Interest Rates. And i think you want to have a balance, maria, of offense and defense. Defensive name, a classic defensive name would be Johnson Johnson and a then have some cyclical exposure as well, because in a below trend economy, you cant wait too much in the cyclicals and have too much in defensive. You want a nice balance there. Maria we will leave it there. Hank, its great to talk to you. Thanks so much. Coming up, tragedy in new orleans, a Hotel Collapses at the Hard Rock Hotel, leaves two dead, dozens others injured. The rescue efforts coming up next. And then shakeup at boeing, ceo Dennis Muilenburg loses a title due the 737 max jet crisis. Well be back over this. Were burning down the highway skyline. On the back of a hurricane that started turning when you were young. 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. this is the family who wanted to connect. The day well finally get something done. 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. Oh, wow. You two are going to have such a great trip. Yeah, have fun thanks to you, we will. Aw, stop. This is why voya helps reach todays goals. All while helping you to and through retirement. Um, you guys are just going for a week, right . Yeah thats right. Can you help with these . Oh. Um, were more of the plan, invest and protect kind of help. Sorry, little paws, so. But have fun send a postcard voya. Helping you to and through retirement. Maria welcome back, good monday morning, thank you so much for joining us, im maria bartiromo, it is monday october 14th, happy columbus day, top stories right now 6 30 a. M. On the east coast, futures indicating a lower opening for the broader average, china reportedly wants more talks before signing phase one of the deal, my sources say that they want to get a deal signed by the apec conference on november 15th, the president and president xi jinping will be, this followed rally last week thanks to china trade pushing major indices higher that was with the dow industrials up 1 on the week, s p 500 up twothirds of a per can he be the and the nasdaq higher by almost 1 , Global Market this is morning are taking a cue from wall street and trading down, ftse 100 down 47, dax index in germany lower by 97. In asia overnight green across following the news, import were down 3. 2 , exports down 8 and a half percent. As you see the shanghai composite nonetheless is better than 1 , japan is closed overnight for a holiday. 2020 in focus, hunter biden resigning from chinesebacked equity firm and vowing not to work for foreignowned companies if his father becomes president , more on the growing controversy coming up. Changes of boeing to report, the board stripping ceo of chairman role, costs continue to mount after still grounded 737 max jet, fortnite goes dark, possible ending latest season leaving million to wonder what is next after the game disappeared and went into a black hole, tall stories coming up monday morning, but first top story this half an hour, Cisco Systems this morning, the stock has seen a decline fractionally in the premarket and tech giant affected by market uncertainty due to talk of possible recession as well as the china trade impact, i spoke with ceo chuck robins to talk about future in business. What can you tell us about Enterprise Spending . What we talked about on the last call toward the end of the quarter we saw change in behavior in customers and both the enterprise as well as the Service Provider safe and particularly around cap x and i think weve heard it from lots of companies, i think that the geopolitical dynamics and the trade dispute thats happening has begun to have an impact and itll be really, i think it would be tell to go see where the Global Economy is as we see earnings begin to roll out here in the next few weeks. Youre such an important indicater of all of this because Companies Need your product, need your products to grow and, yeah, its not just the issue around the trade story but im wondering how much has to do with carriers taking a pause ahead of 5g being rolled out. Is that part of it . Well, if you see the carriers today are building the consumer 5g networks and they dont require a massive backbone upgrade when you just increase bandwidth to mobile homes, when they begin to build 5g services that would require them to build dedicated next generation highperformance backbone because of all traffic generated and thatll be over the next 2 to 3 years so right now they are focused on the radios needed for the consumer side. So what i think i hear you saying, yeah, maybe we are seeing a bit of a pause because of the 5g on the horizon but once 5g is implemented theyll have to spend big on that . Well, if you think about the speeds that are going to be supported at the edge and the number of those connections its only logical that you will have to update, you know, your infrastructure to accommodate all the bandwidth thats going to be given out around the world and so we would expect to ultimately be a beneficiary when it happens. Maria all right, broadly speaking in terms of the slowdown that we are seeing would you say its uncertainty of trade war that we are having . I think thats a big contributor obviously and hopefully we will get some resolution here even if we, you know, have a small deal and it is having an impact, i that othr geopolitical situations around the world, brexit is having an impact. The markets hate uncertainty and the Business Community doesnt like uncertainty and even with the business round table we saw, you know, ceo confidence actually come down last quarter when we put out our report, so maria chuck, is this a u. S. Issue or global story . We know europe is having a hard time generating any growth, china has slowed down substantially, u. S. Or global in. I think theres global although countries doing better than others, as we have seen in the u. S. The consumer has stayed incredibly strong here and hopefully that with some resolutions on some of the bigger issues, you know, theres potentially good news on brexit and hopefully we can get this economy cranking again. Maria last week was a whopper of a week and so Many Companies appeared to have bullied whether you have the nba, the Houston Rockets general manager or apple taking down an app, google taking down an app to apiece the chinese. I know youve tang welled the chinese, they steal intellectual property from the United States, what do you want to see out of saw deal, should that be a deal or not . Intellectual property theft the lack of theft should be core principle in every country around the world. Its not unique to china. Weve had intellectual property issues with companies in the United States, so i think thats a broad issue that should just be a basic premise doing business around the world, is that you should, intellectual property should be respected. Maria do you think its a fair statement that far too long American Companies were so interested in getting their products in front of 1. 4 billion people in china that they forget to protect their own products . Well, i think the world has changed a lot, i mean, its, we live in hyperconnected world with cybersecurity threats everywhere, every month, every quarter, every year, you learn of a threat that you didnt think was a threat a year ago and people have to be much more careful and companies be much more careful. Maria any idea how much intellectual theft has caused over the years . People say its hundreds of million of dollars and we had the ceo of microsoft a couple of years ago and he said that it cost them 50 billion or so. Yeah, im sure its in the billions and, again, its everywhere. Its certainly an issue that needs to be dealt with. Do you think that china bullies companies to just i can tell you personally that our business never got to a level that we wanted it to get to but i never felt bullied. We never had been asked to do any forced Technology Transfers so i cant speak for other companies but ive never had the experience. Maria stick around, weve got much more of my interview with chuck robins in 7 00 oclock hour, we will talk about homelessness and whats going on in our cities across the country particularly in ciscos backyard santa clara, son hunter resigning from a private Chinese Equity Firm that was backed by the chinese, the fallout all ahead. Then fortnite breakout, what the Season Finale could mean, we are taking a look when we come back. Your doctor right away yourif you have anaway 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. 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. Welcome back intense search for missing worker after deadly Hotel Collapsed in new orleans, Lauren Simonetti with headlines, lauren. Lauren unbelievable, maria, crews are swifting through rubble of Hard Rock Hotel that collapsed during construction, look at that, large crane do remove debris at the site near historic french corridor where tourists go, two were killed. Stripping chairman title of ceo giving it to lead director David Calhoun, the panel saying the change will help focus on getting grounded 737 max back in the air, happening at panel of aviation experts criticized boeing and faa for mistakes surrounding the 737 max, boeings Quarterly Earnings due out next week, testifies at the end of the month, fortnite has gone dark going out with a bang and shutting it down, players seeing this massive light show along with rocket launches when they logged in, characters were then toward the center of a map and then the game turned into a swirling black hole and remains that way at its peak, the online game posted 250 million registered players, maria, it went away but im sure its coming back, bigger and better. Maria thats what it looks like. [laughter] maria all your kids play fortnite . Yes. [laughter] football was on yesterday in. Sure was. Look, this is a monster game and whether this is some genius marketing trick or whatever theyre doing, its a big risk, huge gamble, literally shut down the game, twitter feed, instagram account, everything is dark, nobody knows how long its going to last or when the new season is coming back. Epic games that was the creator and i think the hook is that its so social, i mean, thats what it is, the kids can talk to their friends, they play with their friends, people can be in Different Countries playing together but to ruin a sunday afternoon is a little bit annoying. [laughter] sunny sunday. [laughter] maria thats funny, all right, we will have to wait and see. Yeah. If im a betting man, itll be back. To your point, these games are trumping Sports Events for that next generation, right, this is a huge business, thats why amazon bought twitch, this is what the generation of kids want to do. Esports are big. Maria coming up gm strike, week 5, workers plan to go picket at dealerships, hunter biden resigning from chinese backed equity firm vowing not to work for any Foreign Companies if his father becomes president , all next right here im working to treat every car like i treat mine. Adp helps airtech automotive streamline payroll and hr, so welby torres can achieve what hes working for. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. Maria welcome back, walkout over ukraine, President Trump assured him there was no quid pro quo in interactions with president with ukraine, former National Security aid fiona hill to testify before house intel today, we wont know any of that because its behind closed doors, yesterday i spoke with doug collins along with mark meadows and i asked them about the closed door testimonies. Tell me what youve learned so far from these behind closed doors testimonies in this impeachment inquiry . What they did is take it behind closed doors, have testimony that i have heard from folks who are in the room that says the transcripts should be released completely because they defeat the entire narrative but as long as he can keep it behind closed door they leak out only what they want to leak out and this is why you have seen progression at this point, the president has done nothing wrong and he has said and come out in the transcripts, by the way, if you dont believe it ask the ukrainian president , i felt no pressure, this was a discussion of what was going on in the countries. Its a political process, you dont have to have the facts as long as you have 218 democrats willing to vote for it. We have to clear it up and make sure its transparent and make sure that the American People are the final judge and jury. Maria joining us right now the Washington Examiner hugo gordon, hugo, always great to see you, thanks very much for being here. Thanks for having me. Maria a lot to talk about, i want to get your take on the process the way it is all behind closed doors, its in the House Intel Committee as opposed to Judiciary Committee even though the Judiciary Committee that heads jurisdiction for impeachment and then we have to get to hunter, joe biden, whats your reaction so far to this inquiry . The fact that its behind closed doors is a real problem because this is some midlevel bureaucrat thats being impeached for the misuse of a credit card, this is the elected president of the United States and, you know, we know that the democrats and the resistance of being trying to overturn 2016 election for nearly 3 years now, now no matter what you think of what happened on that telephone call and a lot of people both democrats and republicans who think that there was something seriously wrong with what President Trump was saying to the ukrainian president , no matter what you think about that, you have to say that the public needs to be able to see that the process against the president is transparent. They need to see that the democrats who have been trying all of this time finding a way to get rid of him are not getting him in a nefarious way. Maria the fact is, tom, not just behind closed doors but the republicans, the minority, they dont have a chance to subpoena any witnesses, they cant question anybody in terms of what went on and how could you impeach a dually elected president in secret . Right, 13 months before his reelection. [laughter] they have a process for getting rid of him. Maria go vote. Thats why i think the process is really flawed. I want to ask you a question, the president s response to this obviously sending a letter to the to the house, look, we are not going to participate in this at all trying to force nancy pelosi to have that official vote to open an impeachment inquiry, do you think shes going to have the vote or go straight to the articles of impeachment in the end . Certainly the pressure on her is mounting, the reason that she doesnt want to do it is because despite the fact that the resistance has been so noisy, it was actually this sort of centrist democrats or the nearly centrist ones in the swing districts who won her the majority and theres been constant tension for her on how to get rid of the president , do you go to impeachment and oust him from office or you simply try and tarnish him so that he will lose the next election, i think that ultimately there will be a vote in the house. I dont think that nancy pelosi actually would have any trouble getting the majority, the problem for her is that there are 11 or a dozen seats where she think that is the people might be vulnerable, her people might be vulnerable if they have to vote that way. Maria knows are the regions that donald trump won in 2016. Let me turn, switch gears to ask you about the bidens, gordon, hunter biden has announced he will step down from his position at the Chinese Private equity firm, the equity firm thats backed by the bank of china, his father and 2020 candidate joe biden weighing in on this over the weekend. Watch this. No one in my Family Associated with me will be involved in any foreign operation whatsoever, period, end of story. Now, lets focus on the problem, the problem is we have a president who violated his oath. Maria all right, hugo gordon, what do you think about all of this . You know, its really funny, we will make sure that it doesnt happen again but nothing was wrong, you know, biden is keeps on saying we have to focus on the problem, in fact, what he means is you the press, i would prefer if you focused on donald trump than on me. He keeps on saying that he has been exonerated, hunter biden has been exonerated, nothing was going wrong, if nothing is going wrong why does he mind having the questions asked. Hes suffering in the democratic primary. Back in may 5 months ago he was the head of Elizabeth Warren, now they are neck and neck, double the number of democrats doubtful, disapprove of him to her and she raised 10 million more than he did in the Third Quarter, so hes in trouble and he doesnt want his focus on him. Maria its hard to look at this and not say this is an admission, this was improper taking one and a half billion in money from the chinese while his father is Vice President , taking 50,000 a month from ukraine. Its certainly improper, i dont suppose theres anything illegal about it but as soon as his father is in charge of ukraine policy he gets a job on which he knows absolutely nothing for 50,000 a month. Maria i want to ask you what this all means about 2020 because i sat down with former clinton Senior Adviser mark penn, fox nation and i asked him if he sees anybody else entering for 2020, watch this. Who are you expecting to enter the race . Well, im not sure exactly who is going to enter but i think if youre a Michael Bloomberg, Hillary Clinton, john kerry or Michelle Obama, youre probably sitting there thinking, you know, i could take this field, maybe i should get in, maybe not. I think all four of them are possibilities, what do you need to have to get in at this point, at this point you need broad recognition or really deep pocket finances and if youve got one or both of those or can raise money if you got in, i think you are seriously looking at a field whose leading candidate is in the low 30s. Maria so, hugo, and tom, i want to get your political knowledge here, Michael Bloomberg, Michelle Obama or john kerry entering the race, what do you think . The only person who would shake it up would be Michelle Obama. I dont think Michael Bloomberg or john kerry would manage it and certainly i dont think Hillary Clinton would although she boosted the other day that she could beat president again. Maria she said she could beat him again. [laughter] only Michelle Obama because that would be extraordinary event but frankly, maria, as much as i respect mark penn as pollster, et cetera, i dont think its going to happen. Maria i think hes looking at the field, tom, hes saying, who is going to be beat donald trump, doesnt look like theres somebody there . I think thats right, i also think that democrats are probably going to be stuck with either warren or biden, i mean, just but we talked about betting odds average maria real clear politics. The national polls, early state polls but we have the betting averages, guess who is number 3 . Hillary clinton, shes in about 9 right now. Maria wow. [laughter] another way to look at the race. Michelle obama is at 1 . Maria would she jump in the race, Hillary Clinton . The problem its getting so late to jump in, youre looking at a contested convention scenario where they cant get consensus on the first ballot and on the second ballot the super delegates can vote and get back into this thing. If bernie continues to fade after heart attack the odds of contested convention become lower. Maria hugo, thank you. Thank you. Maria great to see you, hugo gordon there. Tough road ahead of facebooks crypto currency, major partners are dropping out, thats next. Liberty. Liberty. The lexus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. Maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is monday, october 14th. Your top stories right now, 7 0. Trade truce, question mark. U. S. And china reached a deal on phase one preventing the next round of tariff increases from going into effect. They were expected to take effect this tuesday. Optimism is fading about any deal. A new report says china wants another round of talks before signing phase one. My sources say that the two sides would like to see a deal on paper by november 15th at the apac conference billion all the major but all the major issues remain out there. Futures reversing a rally on friday, dow industrials down 80, nasdaq down 32. This is off of the lows of the morning. It follows a rally last week thanks to the china trade story. As you can see on friday, the market was up big, dow industrials up 320 points, off of the highs of the day which actually were up about almost 600 points. Global markets anything morning are taking a cue from wall street and trading down. Fq down 3 , cac down 41 and dax lower by 73. In asia overnight it was green across the board again following the news of the trade deal between the u. S. And china. Even though it was just phase one. More signs that tariffs are impacting the chinese economy, september imports and exports were down more than expected. Imports down 3 and a quarter percent, exports down 8 andahalf percent. Japan was closed overnight for a holiday. The gm strike is now in week five. The union of boosting pay for striking workers bringing it to 27 275 a week. The automaker and contractors feeling the pain of the ongoing work stoppage. The latest on the negotiations coming up. Facebooks crypt cryptocurrencyr fire, major Financial Partners pulling out of the project, days before Mark Zuckerberg is set to testify on capitol hill. What this means for the future of the proposed corp sigh ahead currency ahead. Joker number one at the box office for the second week in a he row. Weve got details coming you. Joining me to break it down, fox business Deirdre Bolton, tom bevin and pwc partnership, mitch rochell. Great to see everybody this morning. A word on this deal, this is supposed to be part one of a multiprong deal but lets not forget, the treasury has been overselling details of this deal now for years. Steven mnuchin came out a year ago and said oh, were 90 there, were 90 there, only to find out in fact they were not close at all. Most of the big issues have not been resolved by this. We still have the open question of whether or not the chinese are going to steel intellectual property. The forced transfer of technology is nowhere. Looks like the chinese got what they want, they got the tariff increases on hold for next week and Financial Services industry, they got a big plus because they have been told that they wont have those limits in terms of how much you can own of a chinese company. Thats about it that the u. S. Got and the Agricultural Products, the chinese have to buy pork and soybeans from the u. S. Because theyve got a massive swine flu going on that is even showing up in north korea. Youve got 250 million dead pigs in china. South korea, they apparently have snipers, maria, on duty so if pigs are trying to cross from north korea, that they will take theyre really worried in south korea that some of these consistent tom nateed contaminated pigs are going to make their way over. Maria five wild boars were found dead near the border at north korea and as a result of that, people are wondering if kim jong un has been hiding a hog apocalypse from the world is how bloomburg is writing it. Its not funny. Weve got 250 million dead pigs whavment are they doing with those pigs. On this trade deal, in my opinion, we are nowhere. I mean, this is all the big ticket items and the treasury and Steven Mnuchin continues to oversell it. Even the ag products, lets look at that piece in and of it self. The 40 to 50 billion that the chinese said they will purchase from us in ag products to your point, a, they need them and b, as i recall two years ago, this was the original offer on the table that we actually said no to. So to your point, china at least in that piece of the puzzle really gave up nothing. The Financial Services piece i think to limit the ip theft for u. S. Companies setting up on mainland, i personally think thats a way for the chinese to hurt hong kong which weve talked about which normally is the western hub for all of these financial institutions, from europe and from the u. S. So i think its, sure, come here, open a business and we just diminish hong kong. So i think china even got something out of that even though it looks like they threw us a bone. Maria thats a good point. The leadership in the Administration Says this is progress. The u. S. And china reaching phase one theyre calling it of a trade deal. A new report says china wants more talks before signing of that phase one agreement. Futures are down this morning, reversing a big rally on frida. The grains are moving as well. The futures indicate a decline of 80 points on the dow industrials this morning, nasdaq down 32. Asian markets moved higher on the a announcement overnight. European markets are mixed. As part of the deal, china will boost purchases of u. S. Agricultural products and the u. S. Will delay a tariff hike. The interim agreement leaves out several big ticket items like forced transfer of technology and intellectual property theft. Kellyanne conway tried to defend the deal on sunday morning futures. When would we expect phase two . In due course. They still continue to teg otheo negotiate. Theyve said this is a long process. This president takes a long view. He at least is the first president obviously in modern times to get china to the table in a serious way and you see whats happened in the chinese economy. You see the effect of the tariffs. What were doing with china really shows a president who has elevated the issue of trade frm where it was in years, mired in Single Digits to one of the most p prominent issues of his president sigh. Well continue to president sigh. Well continue to get the date t deal for the farmers. Maria you have to give the president credit for changing the conversation around china, no doubt about it. At this point, we need honesty in terms of the big tech et tice items. Joining us now is michael youresong. Whats your reaction . I think this is really a truce and neither side really gave much on this. I mean, the chinese didnt really touch the politically sensitive issues, like transfer of intellectual property. On the other hand, President Trump didnt give all that much. He delayed 5 tariff hike on october 15th. But we still have a very, very large amount of tariffs in place on chinese imports. Maria why does secretary mnuchin constantly oversell this deal and try to make everybody think theyre so close and then we get a Market Reaction only to see a reversal the next day. Youve got different camps with the new administration. Secretary mnuchin i think is more worried about markets, more worried about the Economic Impact, and then you have folks like you have trade representative Robert Lighthizer who believes this is the fight and was willing to go to the mattresses, sotospeak, to really level the Playing Field on these issues. So you have to listen to different voices within the administration and i think lighthizer is a key one. Maria they want to see the market rally. Thats what it is. My thought is the additional 5 on the 200 billion, i enough leverage to get them to come to the table thus far . If not, whats going to get them to the table for this thing. We have 160 billion that hasnt been tariffed in december. Are the tariffs getting them to the table or is this a stalling tactic. My view is where both leaders are right now, President Trump, president xijinping, theyre worried about the risk of further escalation. What this truce allowed them to do is have an easy out and avoid the Economic Impact for both economies of having additional tariffs. Now, would more tariffs work . I dont know. I think its very unlikely that chinas going to budge through pressure alone. There has to be there have to be some carrots as well. There has to be some assurances for china that the u. S. Administration wont turn around a month from now and levy tariffs or go after more Chinese Technology companies and i dont know if the administration would give those assurances. So i think its going to be very difficult to get over the finish line on these remaining issues. What about the apac summit. Maria saying according to her sources, thats in theory when President Trump and president president xijinping will meet. Do you think something substantial will be announced there. I think it will be phase one. It will be the details of this. Of this. The question is do we get to phase two or phase three. Its possible. Im skeptical. I dont think either leader feels enough urgency to make the tough concessions to get to an actual deal. We may just stay here. Maria im not buying it. Im not buying it. I think the administration is overselling it. I think they continue to want to see markets rally and stay calm so they tell us were close, were close, were close. But the president has gotten nothing in terms of the big ticket items. Treasury secretary Steven Mnuchin continues to oversell this. I think thats right. We could end up just staying in this place and never really touching the tough issues. How much of this is chinas longterm strategy, trying to string this out to the election to see what the results of that might be . Theres an abs expect of that. Aspect of that. I think more broadly, china doesnt want to make concessions on these tough issues. To be honest, there have been so many reversals in the trade negotiations and some of them have come from the administration. So beijing right now is skeptical. They dont know if any deal would stand up. In other words, if they were to go ahead and make concessions, would it actually keep the u. S. From imposing more tariffs down the line. So theres mutual distrust on both sides. Which makes it really difficult to tackle the tough issues. Maria all right. Well leave it there. Michael, great to get your insights. Thank you very much for being here. Coming up this morning chuck robins is here, Steve Scalise is here along with ehud barack. We have a big show coming up. Bailing on libra, companys backing out of facebooks planned cryptocurrency, what it means for the future there. Nothing to laugh at, the joker the wild card at the weekend box office. The numbers coming up. Back in a minute. I want you to know that its a sign. You and me in the same light. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Maria welcome back ment japan is recovering from the worst storm in decades. Lauren simonetti with headlines. Lauren at least 37 people are dead, 20 still missing in the wake of the typhoon slamming japan on saturday. More than 1,706,000 forced 170,000 forced from their homes, nearly 400,000 homes without power. Japan is deploying crews to help those trapped by landslides. Residents being warned about the massive mud slides. Facebooks proposed Cryptocurrency Libra is facing backlash from original supporters. Ebay, mastercard, visa and pay pal backing out of the project. The companies were recruited in the beginning to lawn of libra but without them there are questions about libra ever becoming reality. Ceo Mark Zuckerberg is expected to testify before the house Financial Services t committee on october 23rd. Facebook down a third of 1 . Joker won the box office for the second straight weekend. For my whole life, i didnt know if i even really existed. But i do. People are starting to notice. Lauren joker added 55 million from north american theaters. Internationally it added more than 120 million, bringing the global total to just about 550 million in just 12 days. Will wee see a billion . I dont know. The adams family exceeded expectation as well, it took second place in its Opening Weekend but the joker, i mean, this is low budget, cost like 65 million to make and look what its bringing in. Maria i didnt realize it was so low budget. You saw it. It was great. Im a Joaquin Phoenix plan. He carries it. Its a good movie. Maria good. I will go see it. Coming up, uaw versus gm, where the talks stand now as the Auto Workers Union is upping the strike pay. Then pope francis shows his nfl allegiance. The pontiff accidentally tweeted about the nfl. Wait until you hear this. Stay with us. Youll be my something sweet. Ill be your strong and he stisteady. Youll be my glass of wine. Ill be your shot of whiskey. Youll be my sunny days. Ill be your shade tree. Youll be my honey success 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. theto the wait didlly 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 standoff between General Motors and the united Auto Workers Union now in week five. Grady trembell is covering the story. Reporter when you think about it, its been a month since the strike started and think of the bills that the workers have had to pay without getting regular pay from General Motors, things like car bills, mortgages, as well as just regular things like electric and groceries, things like that. So its really starting to get froefrustrating for some workero have been living off the strike pay for the last four weeks. A lot did happen over the weekend. Just to recap a little bit for you. Uaw put forward a h proposal to General Motors and they are waiting for a response on that proposal. Also, the uaw announced it was increasing strike pay from 250 per week to 2. 75 per week. So maybe not going to make a huge difference for these workers but a show of thanks from the union for holding the line. And then also on friday, moodys released a report that said gm is paying a lot more for each worker than its foreign automaker competition are who have plans in the United States. General motors paying about 63 per worker for hourly wages and benefits, foreign automakers who have plants here only pay about 50. Because of that, heres what moodys says. It is critical any new uaw contract not allow that gap to widen since it already results in more than 1 billion per year in higher costs and lower profits for General Motors. So you can see the importance of this strike from the General Motors perspective in negotiating a contract that works in their favor. Now, since this strike has been dragging on, all of the analysts say General Motors has lost a lot of money. Credit swiss says the company lost 1. 5 billion. But moodys points out in their report that they could recoup all of their lost earnings if this strike doesnt stretch past november. Maria grady, thank you. We will be following that. This strike is costing the automaker hundreds of millions of dollars. Your reaction. This is a tough situation. My dad was an Airline Pilot for a long time. I remember when i was a child, the Airline Pilots went on strike. Its a tough thing for these families. 275 a week is not a lot of money to live on. Theyre dipping into their savings. Theyre looking for parttime work now. So its obviously tough for the workers. But tough for gm as well. You just saw the numbers there. Theyve got theyre facing a billion dollar disadvantage in terms of the wages that theyre paying versus others and so they cant afford to see that gap increase. I think well see both sides come to the table eventually but the pain is growing. Its going to reach a point where there has to be a deal done. Maria do you think theyre making progress . Doesnt look like theres a lot of progress. Sometimes theres progress behind the scenes and they spring a deal on you. Theres small towns that exist that resolve around that plant. We talked about the supply chain, so its not just gm. Its those who supply the parts to gm that are not putting them into the cars so those orders are stalled. So you look at the midwest which are key your business, these are key Battle Ground districts and this is going on. Its not great timing for the disenfranchised people in the automobile industry. Theres people saying we dont work for gm but our business is directly related to gms health and we didnt vote to go on strike but were getting killed. Theres one interview i read over the weekend and it was a diner owner and he she was like i dont know how long we keep the doors open. I still have to pay my people. Maria it colors the whole economic story. Gm, major manufacturing story that will be showing up in the pmi numbers. The purchasing managers index. When we see those pmi numbers coming weaker and weaker, we speculate that the Manufacturing Sector is weakening more than people thought. Its gm, its boeing, two situation thats are really impacting that. Everybody who supplies gm and boeing too. Maria thats a great point. The political ram ph ramifi, dont be surprised to see President Trump get involved, trying to force the parties to get this resolved. Hes spoken on twitter directly to gms ceo quite clearly before. Maria im sure he will again. When we come back, the impeachment inquiry, a key witness testifies this week, Steve Scalise will be here on what to expect. Tesla evolution, the Company Streamlining deliveries r, the strategy coming up, right after this. Want to run but she mainly crawls. Oh, oh, the sweetest thing. Hmm. Exactly. Liberty mutual customizes your Car Insurance, 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 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. 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 . Audreys on it. Eating right and staying active . On it audrey thinks shes doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk . [sfx crash of Football Players colliding offcamera. ] maybe not. Jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. So it could help save your life from a heart attack or stroke. And it lowers a1c. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it. With jardiance. Ask your doctor about jardiance. Or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. Maria welcome back. Our top story this half hour, the ukraine controversy, u. S. Am a bass door to the europe union, gordon sund lan sondland expectl congress there was no quid pro quo. Fiona hill will face questions today, reportedly about a socalled shadow policy. On sunday morning futures yesterday i spoke with doug collins and mark meadows about the closed door testimonies. The democrats realize that in the light of day, they couldnt find anything to impeach President Trump on so now theyre going behind closed doors and theyre just believing that the American Public is not smart enough to realize what theyre doing, that they can leak out what they want to and influence this next election cycle. Maria your reaction to whats taken place in terms of the impeachment push. You heard what doug collins said. What are you going to do about it, that its all in secret. Well, we need to bring it out and let the American People judge for themselves. Ive now spent over 20 hours behind closed doors, listening to testimony. And if that testimony were to come out, you would realize that it would be exhibit a and exhibit b on the exoneration of this president. But yet you know, adam schiff wants to make sure he keeps it all in private so what we have to do is continue to appeal to the American People. I think an open and transparent process is really what we need. Maria joining me right now is louisiana congressman, House Minority whip, Steve Scalise. Thank you for joining us. Good morning. Good to be back with you. Maria so what is this all about . We know its all behind closed doors. We know that there hasnt been a vote, a formal vote for the entire house to vote on impeachment. Why are they doing this this way . Well, this is part of adam schiffs it felt like a Kangaroo Court they set up. Theyve got a shroud of se cree sigh where they want to secrecy. They are making false accusations to try to tar the president. If you look at the facts that have come out, the facts have all said that this is a witch hunt, that the be president did nothing wrong. The transcripts were talking about whistleblowers. Why do you need a whistleblower when you actually have a transcript of what was said and the two people that were directly on the call, both have said there was nothing wrong including zelensky again saying there was never any mesh pressu. So why adam schiff continues to hide in secret, the volker testimony, he was starting to leak out some things that were false about it and everybody else that listened or was participating in the volker testimony said that schiff was being disinformative and frankly the entire thing should be released to the public. What is adam schiff trying to hide, maria . Its like a continuing pattern were seeing from him of throwing out false information, hoping the Mainstream Press runs with it because by the time the truth comes out theyre throwing out more false accusations about this president all to try to impeach a president of the United States based on secondhand information and false information. Its alarming. Maria what can you do about it . This week youve got a lot of your colleagues back, many of whom were either on recess or visiting in their districts. Does anything change this week that now youve got the membership back . Well, it could. But frankly the first answer is to have a vote in the house on an actual inquiry, if thats what they want. I think most people across the country are saying lets focus on getting the economy back on track, focusing on things like usmca and lowering drug prices. When you have the president go and get a partial agreement with china, thats a big deal. Its a big deal that should tell the rest of the world we can get better agreements with countries that have been taking advantage of us and one good way to start is by passing a deal with mexico and canada. Pelosi wont do that because shes sew fixated with impeachment. I think a lot of the members in swing districts are saying you ran saying you would get things done and all youre focused on is impeaching the president over a lie about idea pro he quo that never even happened. Maria the House Democrats are trying to figure out how to proceed at this point with the whistleblowers and any other witnesses in the impeachment inquiry. They want them to be able to provide written answers to questions. Obviously republicans dont want it all kept in secret. Adam schiff had something to say about that. Listen to this. Got to get your reaction. The republicans would like nothing better, because they view their role as defending the president , being the president s lawyers, if witnesses could tailor their testimony to other witnesses, they would love for one witness to be able to hear what another witness says so they can know what they can give away and what they cant give away. Theres a reason why investigations an grand jury proceedings for example and this is anil a gu analogous to a gray proceeding, they are done out of the public view initially. Maria that was the face the Nation Program yesterday. The wall street Journal Editorial Board writes, the impeachment is a political process in which the house defines the meaning of high crimes and misdemeanors. Mr. Schiff wants it both ways, run the investigation like a grand jury. Your reaction, congressman p . Wow. I mean, think about this. Schiff wants to impeach a president of the United States behind closed doors. Andrew johnson they didnt even try do it this way. The history of our country, only three times in the history of our country have impeachment proceedings come out of a committee. Every one of them started with a public vote, not secret, but public. This idea you can hide everything in secret when theyve got a track record of throwing out false information time after time, to try to undermine the president and then the president they never thought the president was going to release the transcript because if the president didnt release the transcript, could you imagine the media narrative. And the schiff narrative a that okay, look at all these high crimes and misdemeanors, we need to get to the bottom of it. Tushes out there were none. They cannot name a high crime and misdemeanor. Theyre searching around on a witch hunt for it. Thats not why you have a grand jury proceeding for example. If you wants to use that anil i analogy, does a District Attorney say were going to try to inindict that person, lets see if we can find evidence of it and behind closed doors they secretly try to find something. Thats not how its done. It ought to be in public. What is schiff trying to hide i think is a real question . Weve got an election next year. The people of this country should decide the president next year, not add dale schiff and nancy pelosi behind adam schiff and nancy pelosi behind closed doors. Maria when adam schiff came out at the beginning of his first hearing, he sat at the gavel desk and basically read something that he made up. I mean, he had the transcript right there but instead he said he wanted to read his parody and he was able to leak that. I mean, that got out there and it went viral. So everybody saw what he said. Right. Would we have heard a different alternative if there was no transcript out there. He would have read it as if it was the whistleblowers direct knowledge of what happened. It wasnt. It was a made up lie. It was a disgrace. It shouldnt have happened. It shows how theyre going to conduct things behind closed doors which is why our members that are in those hearings come out and Say Something completely different than the narrative schiff is giving to the press. Maria i want to move on. Let me ask you, do you think the house will impeach him and will the president be forced from office . Real quick. The president will not be forced from office. Again, theres an election next year. But i think pelosi is so far down a road where her radical left has wanted to impeach the president from the day he got elected. They didnt care about the facts. There are no facts of high crimes and misdemeanors. I think theyre on a drum beat where aoc is driving the train and the far left and pelosi is not running things right now, they are. Maria they will pursue impeachment . I think its inevitable. Its a disgrace. Thats where they are. Maria i want to show this disturbing video. I know the republicans have been doing a lot of fund raising. There was a fake President Trump shooting, this video shows assaulting and stabbing and the president stabbing his critics and the media, shooting into the church of fake news. It was played at a Trump National doral miami conference hosted by american priority last week. According to the New York Times, the groups organizer released a statement about the video saying it has come to our attention that an unauthorized video was shown in the side room. It was not approved, seen or sanctioned by the organizers and they were not aware of the video until they were contacted by the New York Times, the first time anyone of usually associated officially associated with the conference was made aware of the video is when the New York Times requested a comment. We find it shocking that the New York Times would not report on the sanctioned events in the article, including our panel condemning Political Violence. Always has and always will condemn Political Violence and proof of this was our major Panel Discussion on this very topic. But you were a victim of Political Violence yourself, congressman. How did it happen that youve got a Political Action commit at this doing a conference that committee that are supposed to be supporters of President Trump and this video gets in there. I dont know, maria. I saw the video. Its disturbing of i condemn it at the highest level. First of all, the president and his campaign had nothing to do with this. Where it came from, i think they ought to be accountable, whoever was responsible for putting it together and showing it. Theres no place for that. On either side of the aisle, republicans or democrats, shouldnt kind of entice that kind of Political Violence or glorify that kind of Political Violence. Maria are you going to be able to, as the minority currently, are you going to be able to get back in the majority next year . Tell us about the status of the gop right now. I know youve been raising a lot of money. At the same time, youve had retirements, significant. Weve had a number loff retirements but if you look at them, maybe one exception, theyre all in safe republican districts. But ive got to tell you, maria, i have gotten around the country a lot to a lot of other districts. There is tremendous excitement for us taking the house back next year. And the recruits, the kind of people that were getting, men and women that want to help turn this country back around and work with President Trump to build on the successes that we had with the tax cuts and jobs act, with the regulatory relief, that have gotten our economy humming along so well but they also know the potential we have to do better trade deals with our neighbors, to Pass Health Care reforel. Look, there is a bill that passed committee unanimously, all republicans, all democrats voting to lower drug prices, maria. This is a bread and butter table issue that families are wanting congress to address. Nancy pelosi wont bring those kind of bills to the floor because shes so focused on impeachment. Maria right, yeah. There are a lot of good people that were getting to run to turn the house around, to get the house back when we reelect the president next year. Maria my consistent he dough u and your constituent as a result of this fatality, this horror that happened over the weekend with the Hotel Collapse in new orleans. Yeah, thank you, maria. Its a tragedy. Were still trying to find a few more bodies that are in this rubble. Its unbelievable what happened over the weekend. But First Responders were quick to get out there and cardon off the area. Our prayers go to the victims and the families. Maria our prayers to you and yours as well. Coming up, the private sector steps up for the homeless, ciscos ceo chuck robins on his companys push to tackle the growing crisis of homeless home. Pope francis shows his professional football allegiance, the pontiff accidentally tweets about a heavenly nfl team, who he is rooting for, coming back in a minute. 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. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. 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. Mexico reportedly halting a new caravan on the way to the United States. Lauren simonetti with headlines now. Lauren the group is said to be from africa, the dar car caribbd central america. Most were sent back to the southern border. They have been demanding transit visas so they can travel to the United States. Tesla wants to get more customers, so theyre planning to open Tesla Centers in major cities. Reports say they can bypass dealer restrictions and speed up deliveries. Logistical problems preventing them from meeting their goal last quarter. They delivered 97,000 cars worldwide. Pope francis becoming the most popular new Orleans Saints fan on twitter. By accident. He tweeted this today we give thanks to the lord for our new hashtag saints, they walked by faith and now we invoke their intercession. A miracle, the saints went on to beat the jacksonville jaguars, 136. And i believe they did that without drew breez. Correct me if im wrong. Maria youve got to have the pontiff in your back pocket. Coming up, my interview with the ceo of cisco on what his company is doing to tackle homelessness, right after this. I am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. 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. 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. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. Sleep number 360 smart bed. You can adjust your comfort on both sides your sleep number setting. Can it help us fall asleep faster . Yes, by gently warming your feet. But can it help keep us asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. So you can really promise better sleep. Not promise, prove. Dont miss our weekend special the queen sleep number 360 c4 smart bed is now only 1,399. Plus 0 interest for 24 months and free premium delivery when you add a base. Ends monday. Maria welcome back. Homelessness is getting worse across the country. The homeless numbers on the rise across the United States with Cisco Systems based in santa a clara county, california, where the numbers show the third highest rate of homelessness in the country. Cisco is partnering withs destination home to help solve the crisis. Last week i sat down with Chuck Robbins and jen loving to talk about the homeless issue and how companies can help. According to the institute of global homelessness, an estimated 1. 1 billion people live in inadequate housing and more than 100 Million People dont have housing at all. I want to talk about destination home and characterize the problem for us first. We want to look at these pictures. Some of these pictures are heart abreaking where we see people in tents throughout los angeles, poop on the street in san francisco, needles on the street. Characterize the issue. I think those are really the effects of the issue. The crisis in america is that theres not a city in this country where minimum wage creates a place for people to be able to afford to live. So bottom line, wages are not keeping pace with housing and if youre disabled, if youre a senior, if youre vulnerable, if you have Health Conditions and youre on fixed income, the problem gets harder. So now we have a crisis in every major city all across this country with so many people homeless. Calcalifornia has a huge percene of folks. Maria cisco announced a five year commitment of 50 million to destination home, to to help create opportunities for people. Tell us what you would like to see, chuck. I think what we want to see is we want everybody to be housed. At the end of the day, housing is a solution. And we have regulatory issues that have to be dealt with. We have certainly inequality that has to be dealt with. We just need more housing being built and it has to be built for all people. Maria you mentioned wages. Is that all it is . Or are there policies that could be changed to actually reverse this situation . Well, the federal government doesnt take responsibility for homelessness. Theres housing subsidies through housing authorities that are issued through hud but theyre not at scale. Every jurisdiction would tell you if we had more subsidized housing we would have a lot less people on the streets. Maria what about things like being a sanctuary city, what about the programs to give stuff away to people, are these policies failing . So i think we are theres an alarming trend that seems like we want to criminalize homelessness, want to criminalize being poor, that we want to equate that somehow people have done something wrong if theyre not able to afford a place to live when, again, wages arent keeping pace with a place anywhere in this country. Maria you blame wages 100 on this problem. I blame, first, we dont have any housing policies that are supporting the most vulnerable people. Were not building the type of housing at the deepest level ovaofaffordability at scale. Maria what about city and local policies. Same. Same. When were building housing we need to set policies that are equitable to the people at the lowest end of the bracket. Maria are the grants that youve done already helping . You did this 50 million grant back in 2018 and then since that youve done investing of more than 13 million in key projects. Tell me about those projects and whether or not its moved the needle. Its enabled more than 100 hom e homeless families and individuals to move into permanent solutions. The private money is used to catacatalyze the projects. Seven projects, cisco has helped us do. Maria do you see a way the public and private partnership can take hold, not just businesses doing this but actually getting a partnership with government to actually do this together, to move the needle . I dont think theres any other choice. Because what we found with jen and decembe destination home, se public, private partnership and what we want what we did is we funded her because what she is doing and their strategy is actually the right one. I think its imperative for business to find those people who understand these problems, deeply, understand whats causing them, understand what the real solution is and then just help them achieve their mission. Maria tell me about that when you speak with the homeless population, what do you hear from them in terms of what they need to get started, to get back on their feet . People become homeless for a variety of reasons but often its because theyve lost their income stream, the family has broken apart, theres been a disease or catastrophic event that has thrown families into turmoil and so what we dont do a good enough job with is catching people before they fall into homelessness. Around the country, we should be preventing people from falling into homelessness. Wernumber two, making sure that were for the first time in this nation, because we have not built the kind of housing thats affordable to lowest income people, seniors on fixed income, at a scale that we need. And so as more people are aging, as homelessness is aging, seniors on fixed income cannot afford to live even at a rent that is below market but not deeply affordable. We need to create that type of housing and keeping more people from entering into homelessness and both of those things are completely within our control. Maria what are the other issues that you think they could help, that others could help, if youve got Business People watching right now, how can they contribute . Well, they need compassion and not judgment. First and foremost. And i think that, look, ive talked to lots lots of companies are doing different things. One of the problems we face is that there are so many things that business should be getting involved with, that Different Companies have different priorities and i understand that. But weve had other companies that have gotten involved and have put money towards funding for builders, for some of this housing. Were trying to get right now more companies to step up and put more money into the pool where we can prevent homelessness. When you have two or three going into homelessness for every one you take out, youve got to stop that. We need more money to do that i think getting involved and go understand the problem of. Go to the camp pes and talk to these people and your perception will change. Maria my thanks to Chuck Robbins and jen loving. Still ahead, hunter biden steps down from a chinese backed equity firm. The political fallout, next hour, right here, mornings with maria. Back in a minute. And we go crashing down. We come back every time. We never go out of style. We never go out of style. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Thanks for joining us. Im maria bartiromo. Monday, october 14 columbus do a your top stories just before 8 00 a. M. On the east coast, a trade truce at least part one of it u. S. China reaching a deal on phase one preventing next round of tariff increases going into effect was the case going to take effect tuesday, optimism is fading as a new report says that china wants to although round of talks before sink on the bottom line they were expecting would sign a detail on november 15 for apec conference in question futures lower the indications for decline of start of trading about 50 points on dow industrials, s p down five nasdaq lower by a 15, on top of rally last week thanks to china trade story pushing all three indices hire for the week, friday dow industrials up 320 points the s p up 32 nasdaq up 106 one and a third percent higher nasdaq Global Markets this morning lower cac quarante in paris down 37 dax in germany lower by 62, in initiate green across the board, following news of a trade deal between u. S. And fortune however more signs of tariffs are impacting fortunes economy september imports exports down imports down 3 quarter exports dropped 8 1 2 japan closed for a holiday earnings season kicking into fie gear j. P. Morgan Netflix Goldman sachs, reporting this week what to expect concerns continue to grow debate over capitalism rippling into 12020 democratic field Bernie Sanders is slamming rival Elizabeth Warren over comments about the capitalists what a win by either of them could mean for the u. S. Economy coming up, all stories this morning joining me to break it down fox business Deirdre Bolton real clear politics cofounder president , pwc partner mitch robberel story of the day phase one between u. S. China as far as i look at it doesnt look like the u. S. Got much, the about to sides reached phase one of this trade deal new report this morning says china wanted more talks before signing off on the first steps, so we are watching this what china wants is they want u. S. To back off on next tariff increases set doing into effect december 15. Goldman sachs saying you are pretty much in step with this say did she expedite conversations, on friday, goldman with a note saying listen this is going to drag on this trade war, and they say more likely than not they think the 15 tariffs to go 160 billion dollars worth chinese goods coming into u. S. Will stand they do say perhaps there will be a delay, i think worth pointing out too timing we know President Trump already delayed some tariffs probably, for our own good Consumer Spending, of course, you noer more than 60 economy, but at that point with the rest of goods taxed every single product that is made in china that is coming here will be taxesed some level if that last phase goes in, just repeat goldman saying they actually do think even with all chit chat friday good will they think still going to happen. I dont know why this administrations continues to try to offer sale this last time impasse mnuchin said 90 there wasnt true they continue to try o oversell phase one looks like chinese apply more may be most pof Financial Services companies will avoid that limit, the chinese have promised that maybe they wont for his the Financial Services companies to own only 49 of a company in china, they can have overwhelming 51 that is biggest positive here other than chinese buying Agricultural Products can when they hood to apply because going to by the way exact same amount proposed two years ago that we rejected. Mnuchin keeps overselling this i am not buying it. Bank thing happened a couple banks granted charters didnt have to be 49 partners with chinese, the fact that we have traveled down this road a little bit, none of it a bit of a nothing burger right now these are things on the table already. Evening language, right sorry the fact caughts it phase one deal as i said in headlines, accrued a a friend they are calling it a pause different mentality. Chinese dont see this phase one at all. Not even in that language. On paper want chinese to sign it the bloomberg reporting that china wants more time before they even, more talks before they actually sign he on blm, blake burman at the white house with more. O blake, good morning. Reporter good morning to you a lot to digest you all went over the president over weekend has been trying to tout this deal specifically talking about the agriculture purchases saying that the purchases that deal struck between top u. S. Chinese negotiators those large scale ad buys got green light part of what president was been tweeting about this detail saying my deal with china that they will immediately start buying is where large kwants of our Agricultural Products, not wait until the deal is signed over the nextity or four weeks they have already started, he went on the say relationship with china is very good, we will finish out large phase one part of the deal then head directly in the phase two, the phase one deal can be finalized and soon so that is the take from the president , however there is still much work to do on this phase one part of the trade deal for example, bloomberg as you talked about reporting this morning that chinese negotiators want more talks before the end of the month, and when asked this weekend if they phase one deal could be completed, next month, the treasury secretary Steve Mnuchin acknowledged two sides have yet to reach the finish lin. We have a lot of work i am confident both sides are o going to work very hard i anticipate will be closing this phase one includes very substantial issues. Maria Oval Office Friday President Trump described two sides as having come to a quote substantial phase one deal, on saturday, though state media china characterized saying two sides made quote substantive progress a little bit of language from u. S. And china. Talking about that blake burman at the white house Great America pac chairman former reagan achieve political adviser yesterday rollins. How important to where our constituents you are running pac supportive of the president does this move the needle. We want a deal eventual we want a o good deal dont want a bad deal the critical thing i think your analysis early was excellent the chinese are not in a rush to make a deal at this point in time they are loaning players know what is going on in america as well as we do have people know as much about american politics as i do see a president that is in trouble they see is a chaos in the congress, they know the farmers are very important to us us midwest strategy playing that card. I dont think even a deal in short run, certainly not going to give up things we need to have a detail, so i think people like kudlow others who he want a deal basically not understanding the chinese strategy. That is why mnuchin keeps overselgs it last time out the publicly said 90 there we know there has been nothing done on intellectual property theft nothing on forced transfer of technology these are big ticket items so important to President Trump. No o enforcement clause didnt come up in fridays conversation, at all, one point one point President Trump said part of any trade agreement has to be a mechanism for enforcement if china falls flat, and no talk about it at all on friday. You dont want to short term deal only gives Political Satisfaction for i mean this is a big deal. I am not sure it will get done between now and election at a to be honest, again they know what is going on here they see chaos in congress, and white house and so my sense they they are longterm players. Why wall street is doing what it is doing markets are down today, and cornerstone macrosays not expecting a china deal until close to 2020 elections. Absolutely. There is nothings substantially that is happened here let me go to other side death your take hunter biden says going to accident down from position at Chinese Private equity firm father 2020 candidate joe biden weighed in on this over the weekend listen to what he said. No one in my family or about associated name ll involved in any foreign operation whatsoever, period, end of story, now lets focus on the problem the problem is we have a president who violated his oath. Can you really say that hunter biden to give first public intoou since business dealings under fire form on Good Morning America the fact announcing going to step down mission that this is improper . Is it improper, while running for president , how is it not improper to containing the money 1 2 billion he took from china when Vice President . It is not just him it is bidens brother they have done this a long time basically, it is going to be a subject in this Campaign Going to be a democrats not make it a subject you cant be running warren type Campaign Going to clean up washington what have you you have former Vice President tainted so my senses cleaning up trying to clean it up not going away like the horses are out of the barn the barn on fire you cant get them back in at this point. Do you think a rival democratic candidate brings up next debate. I think so at this point in time no growth love monday morning candidates towards biden. They wanted him out from getgo. What bothers me i thought weakest skwd at the end of the day never done particularly well when he gets outside of delaware, tied to ole obama policies, and i think that he doesnt have a model supporting them to certain extent not a strong candidate. They had woody, joe biden at end every debate answer and barac. K. The bad policies without barac. K. The democrats battling out ahead of tomorrows democratic debate Bernie Sanders sounding off on Elizabeth Warren trying to differentiator himself on the economy watch this. He going to make his or her own choice, about the candidates they want, and Elizabeth Warren is no friend of mine for some 25 years. And i think she is a very, very good but there are differences between elizabeth and myself elizabeth i think as you know said a capitalist to their bones. I am not. Ooh a capitalist to her bones ed. Bernie, thought he was frontrunner at this time going to challenge for sovpt position she is has done effective job cutting into him, she is going to win New Hampshire i think win iowa very strong base in iowa then on her way to certainly a frontrunner, i think to a certain extent bern is going to distinguiminish by day. If if able to win iowa New Hampshire. Once you start getting momentum and i dont see who he can catch her at this point in time unless she stumbles not really stumbled so star. Mark penn expecting new people into this race i spoke with him yesterday watch this. Who are you expecting to enter the race. Well, i am not sure exactly who is going to enter but i think if you are Michael Bloomberg, Hillary Clinton john Kerry Michelle o bammo probablys sitting there thinking you know i could take this field. Maybe should i get in. May be not. I think all four of them are about possibilities what do you need to have to get in at this point . I think at this point broad recognition, or really deep pocket finances, and if you have got one or both of those, or can raise money if you got if i think you are seriously looking at a field who is leading candidate is in the low 30s. Maria what do you think ed. Not going to happen. Not going to hoop . Not going to happen they are dis no disrespect to marc has been wrong before [laughter] there is no enthusiasm just, true, it is in a Campaign Together after people get committed to candidates this is he Different Party than one penn was involved in before young voters young women out there buying into the warren thing, she is a more sellable socialism still a socialist my sense bernie goes down probably short his supporters go to you are in not going anywhere else. You said officially mark as well a brokered convention. That is possible. Lets ooh possible that bernie suffering after heart attack a scenario you could have a white knight safe the day a john kerry Michelle Obama. Would john kerry 15i6 the za. Nofrng would save the day certainly has ambitions ams a temptation the difference super deaths dont get to vote until second go around, so that is where won hillary last time if someone else becomes ab viable candidate warren does run away with it, and there is not enough to get the majority in that first ballot everything is up for grabs. Trumpwarren general election what do you think. Very trumpwarren . Certainly country would get a view of two different points of view where country sm be going my sense i dont underestimate trump in any debate battle his problem at this point in time get through next four or five months democrats had votes to beach him dont have votes to basically throw him out of office, but she he is going to put 218 votes up somewhere look the line here. Great to see you coming up thirdquarter earnings major banks with quarterly numbers this week, next. 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. 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. I suppose like when you buy a building you have reached agreement to buy a billed now got to negotiate the contract. There will be more that was treasury secretary mnuchin owed white house talking to reporters trying to sell this deal, as the phase one that he believes will get signed, we know that the two sides want this to be signed, at the apec conference happening in chile november 15 amentioned count look u. S. Got anything sure more Agricultural Products but chinese have to buy them because they have got a swine flu right now that is killing all their pigs. 40 to 50 billion dollars worth chinese said would be bought same as two years ago proposal. See if still talking. Level meetings in person, i think our expectation is we will meet with vice premier in chilly before president s make make sure there arent final issues if we need in person meetings more in person meebthsdz to get this done we will do it. Whistleblowers, treasury about officials exert influence over mandatory president ial audit did you have anything to do with that now know i had nothing to do with that but the only thing i can tell you is we received last august, this issue referred to inspector general, ig is working on it i have had nothing to do with it. Chinese when it comes to intellectual property a very significant chapter so i mean it is it is the full i am not going through specifics today it is full chapter on intellectual Property Protection we have been talking about forced technology is separate progress on forced technology ipr done in whole. On turkey president said this morning, sanctions coming has there been decision made to move forward with sanctions. National Security Team met yesterday the situation room we will be meeting again this morning i think you know this is an o evolving situation, where monitoring the situation carefully, so sanctions are ready to go updating the president this morning what he makes the decision the president share the meeting yesterday of correct. No, it was not a National Security it was not an nsc meeting was portions of National Security. This morning the president will be there. I am not going to comment one way or the other but as yes the meeting again, the meeting this morning is a principals meeting we will be briefing the president afterwards. Mr. Secretary can you talk about importance of mailing Enforcement Mechanisms with republican to deal with china. Absolutely we said all along the agreement needs to have enforcement provision we have agreed with china were talling it a dispute resolution, there knees to be every trade agreement has this, our expectation is both sides will develop large offices to deal with any disputes. My expectation is most of them will get settled in that format but there will be an o he enforcement mechanism. Before talks broke down earlier this year, the administration talked about Something Like 100 more pages chapters about 9 o of the way we have yet to hear how big the again, seven chapters we said in original agreement in this case, intellectual property rights, agriculture, again is not purchases structural currency, services chaefrpts two parts one now a Financial Services and purchases, so i dont know about however you count 3 1 2 or 4 of the chaerpts then the president says we will move immediately to phase two. Mr. Secretary the china again i got to got asked this question i think over weekend i dont know what the president was serious or not what i will tell you is again, the president made very clear in the Oval Office China can do what they want to do weve had no conversations with them in any trade agreements one way or the other, so again i think it is what it is. From turkey sanctions isnt it sort of too late. Definitely not too late, this is a complicated situation. Nato ally turkey is a full member of nato, and an ally of ours who is now fighting over border issues with the kurds who have helped us with with isis it is a complicated situation monitoring said very carefully. Do you expect chinese to come here again again we have for now we have telephone calls planned, if we need to meet i am sure there will be meetings at deputys levels first we have not decided whether thank you very much. P you spoken to turkish counterpart recently . Yes. Today . You heard treasury secretary Steven Mnuchin overselling this deal again he said intellectual property but i dont know that he said anything specific about it. No. What about. I dont think any details out a vague understanding to steal from us . Over next three to five weeks what is supposed to be written down as part of phase one but it was ip Financial Services ag purchase we have been talking about ip is clearly the most ill defined of all. The way i see it two things that this phase one deal is it is number one, chinese big more buying more Agricultural Products that is good number two chinese say that they will not force Foreign Companies to have to play second fiddle to the chinese. Only financial. Only Financial Services can own their own company in chin wont be forced to own 49 . That serves in my view that chinese for their own purposes, because deemphasizes hong kong as western Banking Center in asia. What did china get . The bulk of this china got to get the president to back off, on an increase in tariffs that were supposed to go into effect tomorrow, and they want him to not put into place the december 15 tariff hikes they are asking them to not put those on hold as well the administration has not answered why either. Goldman says the december 15 tariffs they see more likely than not that came out this morning, joint research from u. S. And china conference. So we are nowhere . We have a good tone, i am not being sarcastic more cheerful tone i think sends for as a matter of fact sentiment you have been talking about treasury secretary mnuchin talking up possibility of a feel every time macroheadlines move towards progress greater understanding the stock market does go up. You said sentiment language barrier speaking two different languages. Calling its phase one deal my friends contact say they have called it a truce as a truce. In other words, stop all tariffs. That is why administration continues to oversell this is trumps mo oversells everything his call with ukraine President Point of view doesnt just make trade deals makes the greatest delayed dealever the administration speaks in sub latives about things when rubber meets road voters go to polls will know when rhetoric matches reality. I got to give p president credit for changing the conversation around china i dont know why so you know dying to paint this as positive what thing in fact we issue nowhere. Supports stock market about it lets bring in wells fargo investment head Global Market strategist Paul Christopher great to see you reaction. This is really a truce. The term that we have been dwifb seemed to have any substance to them at all are still less than what we had the beginning of the may before the talks broke down, so yes maybe a glass a quarter full you did stop escalating for a while but look since the announcement came up the markets gave back 0 points on s p 20 points on s p friday afternoon another looking like going to open down another 6 you have taken what was great week for stocks made it a good week sort of so far through the preopen this morning, so not really great. But we still have to see more. Paul Mitch Roschelle i want to dig deeper into what you just said how much china trade deal is baked into market if a deal is baked into market is it skinny deal or something bigger the market is expecting. It is a difficult question to answer, not really cant know, because youve got other things going on at the same time. Like the fed offering to to put more liquidity into the short end of the market some people have interpreted that as qe 2 or 3, or 4 i guess up to now so difficult to answer that, but yeah probably some optimism is still getting priced in look, if you are an investor what you have to look at here is that the time that it takes from going from optimism about a deal, to disappointment is getting shorter and shorter, it is really not a good thing to be moving your portfolio around. Paul deirdre here long story short what is your why outlook for the stock market next 12 months and lets assume u. S. China trade relations stay as they are, meaning sometimes more sometimes cool, and still talking. Yes still talking still escalating so that means volatility for the markets but probably mid Single Digits maybe 7 stock market return, in terms of price. Have still pretty good. Next 12 months not bad but going to be very rockey very bumpy because escalations are going to continue, there is no other way for them to get leverage on each other around very big rock issues like intellectual property. How does this impact earnings we are right now on doorstep of the Third Quarter reporting season big banks among first to report this week. Yeah. J. P. Morgan, citi, netflix reporting as well what are you expecting in terms of of thirdquarter earnings reporting season. We are going to see continuing slowdown, in earnings, what really concerns us, Going Forward, 12 months again to that point about volatility, is that analysts estimates still seem pretty high looking like low double digits returns or Earnings Growth sorry for the next 12 months seems too optimistic to us we think those are going to have to come down the economy still grows, you are going to get some growth in earnings next year probably mid to low same digits not double digits the markets are expecting. Paul i heard you talk about volatility any safe places or close to as assure things as possible in markets right now stock market. Yeah what you really want is focus on quality. There are so many different definitions of quality, but we think with this being late cycle the economy slowing, what is really going to focus only is cash, cash intake cash to debt ratios we think those look best among the Information Technology sector that is where we are most favorable. If you get volatility you will probably see less in sectors like that one. Great to have you this morning thanks so much. Paul christopher from wells fargo former israeli Prime Minister ehud is here on set reaction to phase one deal with china all coming up right after this then senator Elizabeth Warren escalating the fight against facebook, claims the social media giant is actively promoting lies. 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 . Fidelity now has zero commissions for online u. S. Equity trades and etfs. And fidelity also offers zero account fees for brokerage accounts, plus zero minimums to open an account. And only fidelity offers four zero Expense Ratio index funds directly to investors. With all of those zeros, there are zero reasons to invest anywhere else. Fidelity. So maybe ill win saved by zero welcome back,good monday morning. Thanks for joining us. Im maria bartiromo. Monday, toeb 14 top stories 8 32 a. M. East coast excitement over partial u. S. China trade deal fading as you can see dow industrials weaker opening for the broader markets this morning indices lower china now reportedly wants more talks, before signing phase one of the deal, the two sides expected to sign this deal the apec conference in chile november 15 but now a report says china wants more time to look at details. Of phase one of this deal, futures completely reversed course after rally on friday dow industrials now down 65 s p down seven nasdaq lower by 21 Global Markets like this european indices are weaker across the board ft 100 down 33 cac quarante down 9 dax index in so germany lower by 73 asia overnight green across the board following tried deal signs tariffs affecting chinas economy september imports exports fell more than coupled imports down 3 and quarter percent exports down 8 1 2 japan closed for hilled, as you can see. Elizabeth warren turns table an facebook posting a take ad featuring Mark Zuckerberg President Donald Trump latest round in battle with social media giant fortnite dark ending latest season levying millions to wonder what is next affidavit game disappeared into black hole top story conflicting in syria President Trump directingu withdrawal of uthes troops in Northern Syria could expand taxes against kurds on sunday morning futures i spoke with counselor to the president Kellyanne Conway about the president s plan. There is a a shifting position even within republicans, that the president s policies by billing outs troops out is worsening already chaotic situation. First priority is safety of our soldiers, and that we felt like the situation was worse ink, weve tried to remove them out of harms way we have two competing interests here turkey nato ally we pit on notice, if they continue with this incursion could lead to humanity crisis, no one wants mostly importantly for turkey destruction of their economy. Senior streejt analyst retired four star jean keane taking issue shame kurds are you are slaughtered u. S. Military in full retreat earn syria giving up control of airspace enables can you recollect invasion yis returns iran grabs oil he fields u. S. Stay with kurds control air a space enforce no fly seasons sanctions very good will not did he territory turks only snooshd President Trump tweeted sanctions on turkey are coming joining me former Israel Defense minzimum wagminz. Minister. Your plan to withdraw troops from syria, i heard the kelly. Kellyanne conway. Yeah, it is i spent decades, i am confident underground the engagement with kurds on right side of history fighting for right course those two kurds, no one can end that because we have seen many but having said that, america which implement policy of withdrawing forces from middle east look what happened in syria after attack of the iranians from Saudi Oil Installations less america once you withdraw from such a fight you strong rhetoric, the big stake at play what looks like chopsticks whatever that is a sure way to weaken america on this in america, exceptional role on world arena to having make itself more for the human freedom for liberty for human rights, and leaving this behind really have a very strong impact as of now assad iran, turkey, and russia. You said a lot of things mr. This is going to mean weaker less influential America Teddy radios veltd big stick turned into chopsticks winners assad iran Turkey Russia tell us what you think the impact will be to israel. For israel much stronger than kurds or any other player, and as a result of american supporting, including the Administration Previous administrations, so we are in much better situation but signal is clear to me if you look the response of saudis the Iraqi Government one hand, the turkey on the other hand it is worrying israel strong insufficie to kurds. Explain the relationship with the kurds, the kurds have had the allies back, right . Right you know the kurds they are spread over iran, turkey syria dozens of 30 Million People fought in situations in Regional Power does not allow them to establish the state they deserve, in the consideration, we when they fought against the iraqis, many years ago, and even now we cannot help them physically because it will taint whatever israelis tainted as collaborator become mark Going Forward when servicing many indirect ways israel is xhidz to help turk asia people not exactly Syrian Branch iraqi branch others. We have seen chaotic regional become more violent chaotic since announcement was made tell me how you see this playing out. Not easy to predict the turks have very powerful army we have seen more than once powerful armies yielding to fighting spirit of small groups that are fighting the courageously now detiered under pressure negotiating with assad previously enemy, fighting for survival with devil to save themselves america will not want many thought whether america should have entered this the security situation but leaving it now, will leave a mark on memories of leaders all over, means less reliance less readiness to rely america at moment of truth. Will world start relying on other powers. The putin which is basically weak on many arenas, very gifted in using his skill in maneuvering, he used it to make major bases forrin president s alignment strengthening their own win syria now turks wants to clear along the border the irony seven, eight years ago proposed to Obama Administration to establish huge new fly zone over northern part of sir from aleppo to border this was rejected by Obama Administration if answered, the time, it might save the whole problem of immigrants that flood europe, and because there was a great opportunity to create a safe haven but something that you missed, seven years ago yot be replaced by kind of hectic withdrawal without any apparently you make a really important point but a minute ago you said winners here are assad iran Turkey Russia what did you mean when you said the big stick turning into chop sticks is this asia no, not about asia it is about the the timing, chop stic stick when you use tremendously strong rhetoric, north america north america iran syria later on when moment comes to stand behind it you disappear, that not typically just for this Administration Even though Obama Administration maybe will be red line about use of chemical weapons, it is probably not a good tactic. Have i spoken to the administration about these plans in terms of i happen to know many generals that were around trump in the past but not the present group. Let me ask you about the the peace prospects middle east reports u. S. Officials have been in talks with representatives from taliban. And, they are trying to restart peace talks after they tell apart last month the president recently expressed openness to returning to the table, to discuss a peace deal with taliban your reaction to that . I dont after so many attempts to start negotiations seemed after toeb fake didnt have anything even the other partner is not sure whether americans are serious or playing for time for the next 15 months or i dont believe with taliban is reality and they will agree to something only to serve them more than it receivers you same could be said about iranians when you think of iranian, iran never won a war never loss at negotiations you have to decide whether you are a backgammon player or chess player they are all chez players, very good know how not to get into which heedon clash with america, the most powerful nation on earth, but tricking america by small developments on the ground, doesnt any negotiating room becomes more popular. Let me end where we began Northern Syria if things worse threaten what . You have the you have tos has to go back. I dont believe administration will go back doesnt make sense to go back after the turkish controlled strip, some 20 miles inside the syria will put an end to the kurds escalation to make the embryonic, and probably, and sad but not something inconceivable probable fight will continue and we will see. Mr. Prime minister great to have your insights thank you for joining us Prime Minister ehud babak, beyond meat guild this morning down better than 2 one analyst says not ready to take a bite. Fortnite disappears did black hole what that my be looking like. Stay with us. This is the family who wanted to connect. And find inspiration in new places. Leading them to discover were woven together by the moments we share. Everything you need, all in one place. Expedia. Audreys on it. Eating right and staying active . On it audrey thinks shes doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk . [sfx crash of Football Players colliding offcamera. ] maybe not. Jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. So it could help save your life from a heart attack or stroke. And it lowers a1c. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it. With jardiance. Ask your doctor about jardiance. On it. With jardiance. Dad dad can you drive me to jessicas house . At northwestern mutual, this is what our version of Financial Planning looks like. Tomorrow is important, but so is making the most of the house before theyre out of the house. Spend your life living. Find an advisor at northwesternmutual. Com. Boeing border stripping ceo of his chairman title Kristina Partsinevelos on the floor of the new york city with details, still ceo but no chairman role. Ceo deals with daytoday operations, still the president and still director but like you said has been stripped of the role of chairman going to be a placed by David Calhoun on the border at least 10 years has experience of ge, and also a blackrock managing director. The company though has issued no final fixes for their Automated System the automated safety features on plan two crashes that took lives 346 people. And so this involves 737 president ceo going to be focusing solely on that we know a are American Airlines southwest as well as united said they dont plan flying 737 till at least january next year muilenburg to testify about crashes, switching gears quickly shares of beyond meat bring those up the quite a bit over 2 1 2 reason that there is a wells fargo released a statement saying they have a mutual rating price target 125 dollars per share streets criticism they are hollywood processed overall i am still eating. Kristina partsinevelos on the floor New York Stock Exchange coming up senator Elizabeth Warren escalating the fight against facebook why she says the social media giant is actively promoting lies. That is next. Whoa Liberty Mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Elizabeth warren taking on facebook, the 2020 hopeful creating a fake ad to highlight the social media giant hypocrisy joining us 47 morning anchor brett larson good morning. This is an interesting move by senator Elizabeth Warren also running for president 2020 president ial candidate, she is calling she is no fan of facebook as we know has been crystalclear about that, on line and in public, she refers to them as disinformation for profit machine, and part of the reason she ran this ad makes them false claims i think the ad claims Mark Zuckerberg endorsed President Trump he has not done, it is to point out this issue that a lot of candidates are having with facebook and that they are truth in advertising rules dont exist for politicians a horrible idea you cant you know, we have to there has to be some listen i get facebook argument for freedom of speech freedom of expression but what point does freedom of speech freedom of expression will have a in line telling the truth. Half u. S. Voting population saw an ad that was created, by or manipulated by a bot on platforms. We have seen time and, again, that the social media platform with algorithms user base amount of information they know about us really easy for them to minute what we think and we also know that russia has been very good about that. So we will see what happens, i mean there was also a trump President Trump ran a facebook ad also had misinformation on this facebook said not chiming in on this say whatever you want. Both sides really are taking on guys not gist facebook but devin nunes suing twitter had a big victory in the court last week, youve got actualliesy gabbard suing google take on fortnite teasing all day disappearing into black hole players screechi scratching heads that is what you see when you log in i wish i played game had understanding what happened can they not do this with super mario apparently fortnite has this they have the game is done in seasons whuz in a while do systemwide events where they shut down bring back the game so folks logged in 2 pm eastern time, witnessed the entire game go into a black hole. All right look we are talking about it. I know exactly and good news the people o who play fortnite are not playing right now hearing us talk about it. Final thoughts from allstar panel when we come right back. Stay with us. Ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. And who doesnt love going home. Maria welcome back. Final thoughts from this allstar panel. Mitch . Looking forward to Bank Earnings this week to see two things. One is if the consumers strong because banks do lend to consumers. Also, see if businesses are starting to borrow money again, because we did lower rates and hopefully they are borrowing money to invest. So thats what im looking for. And happy columbus day. Maria and to you. Tom . Big debate tomorrow night for the democrats in ohio. There will be 12 people on the stage. Tulsi gabbard is back and a new addition in tom steyer but mostly, a new landscape with Elizabeth Warren as the frontrunner. We will see her face attacks from both the left and the right, from joe biden and Bernie Sanders, and we will see if Hunter Bidens issue comes up. Maria tulsi decided she wasnt going to boycott the debate after all. Shes unhappy with the process. Deirdre . Watching earnings and this week, netflix has my attention, on wednesday. First of the fangs to report. Focused on tech media. Curious to see how theyre holding up. Any cash burn they have to compete with apple and disney plus and everybody else. Maria thanks very much for joining us. Varney Company Begins now. Charles, take it away. Charles im Charles Payne in for stuart varney. Boy, do we have a show for you. Yes, it is all about your money. Lets get started right there. Futures rebound slightly, the market still trying to digest this partial trade deal. Will prevent the next round of tariffs from going into effect but after that, there are reports that china says it wants another round of talks before signing phase one. Optimism is fading a little bit there. The other big story affecting your money will certainly be earnings. We have a lot of them from financials to netflix. The big political story, the democrat debate tomorrow. Bernie sanders will be returning to the stage and is even going after Elizabeth Warren, claiming she