Transcripts For FBC Mornings With Maria Bartiromo 20240713

Market will open lower, dow futures down 91 points, nasdaq futures lower by 28. Investors are also eyeing tariff in china that is to take effect in 5 days, the 15th on sunday. Mornings with maria now. Maria big show this morning fox business dagen mcdowell, baron editor jack otter, chrysler ceo bob nardeli. Good morning. Maria we have to talk about the ig report, dagen, i want to get your take on this and, of course, the articles of impeachment coming, House Democrats expect today draft two articles of impeachment one against President Trump and the other dealing with obstruction of congress this coming at release of longawaited report, now, the report is being debated on both sides of the aisle, they are found that they were failures in the fbi, misstatement made but says that the russia report was justified and also according to Michael Horowitz no political bias in the fbi, the president weighed in yesterday at the white house. Ig report came out and i was briefed on it and its a disgrace what happened with respect to the things that were done to our country, it should never again happen to another president , it is incredible, far worse than i would have ever thought possible. Its an embarrassment to our country, its dishonest, its everything that a lot of people thought it would be except far worse. Maria and when you look at the report it goes through all of the misconduct in terms of manipulating data to get a warrant to spy on carter page, after the report was released attorney william barr and john durham say they do not agree with results of ig report. When john durham came out with the statement it may well mean that there are indictments coming. Dagen certainly suggest that john durham knows a lot more than Michael Horowitz does and we should point out theres a difference in terms of the power of the Inspector General had and the power, the subpoena power, indictment power leading criminal investigation within the department of justice, i will point this out, two witnesses, glen simpson, former state Department Official decline request for voluntary interviews, this is in the Inspector Generals report glen simpson, fusion gps, the organization that put together the dossier through which the Clinton Campaign and dnc funneled money to christopher steele, the exspy who assembled that now debunked dossier number one and also note a number officials who chose not to request security clearances be reinstated during Inspector Generals interviews, 17 instances with the fisa commission that the Inspector General goes after and the dossier, again, phoney dossier, it was Opposition Research paid for by the Clinton Campaign played a central and central role in getting fisa wants to spy on carter page, thats what we found out yesterday. Maria it was stunning the way barr sharply criticized the fbis decision to open russia investigation undercutting findings of Michael Horowitz, they did not act on the bias that we know was there given the text messages. Dagen can i also bring up the impeachment proceeding because thats going to basically suck out the oxygen out of the room today. Where is bribery in all of this . Democrats used bribery because it designated on their research that they did, thats not in there and despite hundred hours of deposition testimony from 17 witnesses and this dog and pony show, no insult to dogs and pony because they are awesome and what is going on here is not, you still have 9 republicans support impeachment, this is base 538 tracking poll that they do of all polls out there on impeachment, 9 , roughly, its falling and not a majority of independents support this. This is their kowtowing to the demands from the farleft wing to have base and it is abuse of the constitution, its what it is. Maria all of this on the face of incredible economy, this morning we have breaking news nfib reporting that Small Business optimism has posted large overall gain, bob, you see a lot of Small Businesses, how do you characterize things . I think it was a great, month, for Small Business, big campaign on tv to support local Small Businesses, they were continually encouraging consumers particular with jackie, she said black friday, support your local businesses and i was encouraged by that and as you stay on top of the jobs report which, of course, seasonably happens as we are bringing on more workers for retail to be able to handle consumer demand in the store, i think its very strong and encouraging and the optimism is great. Jack, what do you think . Well, i would say numbers are supposedly adjusted for seasonal bump and its stronger than you would rank, this is the pushpull going on in the american economy, consumer doing very well, Small Businesses tend to cater to consumer and thats what we are seeing here. Maria big news this week is usmca, you heard it here first, deal on the partnership has been reached, theres a signing ceremony in mexico today, passage possibly coming this week, something you heard on this program right before thanksgiving. Usmca vote could could come to vote next week. Reactions from President Trump and nancy pelosi as well. Im hearing very good things. Im hearing from unions and others that its looking good and i hope they put it up to a vote and if they put up to a vote, its going to pass, a lot of democrats want to pass it too. We are not quite finished yet and we are within range thats the way i would say and its something that hopefully if we can work out the final details, which is like a moment of truth, no discussing any longer, either yes or no in terms of both sides on this. Maria one of the pushbacks here was about wages for auto workers, bob, as you know, and theres an enforcement within usmca but has been there for a little while, its not like it was just yesterday that u. S. Workers make 16 an hour. We saw General Motors go through lengthy strike over wages, over adding new employees, you know, in the stepup from a new employee, temporary to avoid massive rearrangement of employees when you have a rebalance in the line, they held strong on healthcare costs, they have the lowest contribution of health care of anybody which, maria, suggest i cant imagine a union voter working for somebody to watch universal health care because it takes away one to have biggest benefits they have as being part of the union organization. Maria yeah. Dagen thats why Elizabeth Warren is falling in the polls and looking increasingly desperate going after Pete Buttigieg for work at mckenzie for 2 or 3 years. Okay. Lets lambaste somebody for having a job for years, we can smell the desperation from here and thats one of the reasons that i think the poll numbers have moved against her, shes essentially told union workers, oh, yeah, the bargaining chip that you had, you will have to take Government Health care. Maria unbelievable. Most people will say this is going to create 175 to 200,000 jobs. Im free trade wherever we can get it, im all for that. One interesting thing on Elizabeth Warren, shes already walked that back and changed wording health care for all as opposed to Government Healthcare. Dagen to say im going to take a couple of years to implement my health care for all, you get to Keep Health Care for 2 years before the government takes it over. Maria we will take a short break, we are just Getting Started this morning, we have commerce secretary wilbur ross on usmca deal coming up, lee zeldon on china trade, texas congressman John Ratcliffe on ig report and the head of watches for Phillips America paul on rolex auction featuring a piece worn by marilyn in apocalypse now, short break, wicked Winter Weather on the horizon, cold front blasting through the eastern u. S. Causing 50vehicle pileup. The controversy coming up. Stay with us. Major insurers. Maria prepare to bundle up if you live central and eastern United States, Cheryl Casone with details on whats coming. Cheryl dont let today fool you, you have to keep winter coat ready, arctic air to put northern and Central Plains on ice in the next few days, forecasters calling below temperatures for 48 hours in parts of eastern dakotas to wisconsin, chaos as it moves across the United States, roads causing 300 crashes alone in minnesota alone and 50car pileup in an iowa interstate, take a look. Wow, well, one person was seriously hurt in that crash. Former boeing executive who sounded off problems of 737 max will testify before congress tomorrow, ed pearson calling nbc news, urged to shut down a factory outside of seat toll fix production issues, pearson says manager rejected his request. He said we cant shut down and then i got mad and said ive seen military operation shut down for a lot less. What was his reply to that . Somethingly never forget. He said military is not a problem. Cheryl crashed 4 months after pearsons warning, boeing issued response, suggestion of link between concerns and recent max accidents completely unfounded. Patriots spying on bengals again, they didnt tell the bengals about it beforehand calling it unintentional oversight, the two teams will face off this weekend in 2007 the patriots were punished for spy gate after illegally recording new york jet coaches, teams are very sensitive about conversations being filmed or listened to, huge deal. Maria i understand, i mean, god, these are their strategies. Cheryl yeah. Im afraid no surprise that belichick is doing that, as new york jets fan ive accepted that this is the reality and, you know what, i have to say tom brady is such an incredible athlete i do feel bad that its been tainted by this because they are pretty Impressive Team without cheating. Artificial intelligence in every area. Maria thats funny. Dagen what about deflategate, deflated balls, footballs. Maria good point, futures pointing to low e opening this morning, Federal Reserve kicks off 2day meeting today at looming china tariff deadline its also out there, we will see by sunday whether or not the president will increase tariffs, the deadline is this sunday, a lot of mixed reviews ahead of it but its going to be an important week going into the deadline and then taking over factory floor, new report shows how for ledge educated workers, whats driving them out of factories, coming up children playing dog barking Music Building experience the power of sanctuary at the lincoln wish list sales event. Sign and drive off in a new lincoln with zero down, zero due at signing, and a complimentary first months payment. Are ready for cartridges another school year . What does cyan mean . It means cyanara, honor roll. imitates shell fire, laughs the ink daaaad daaaad im so hosed. Yeah. You are. shaq the Epson Ecotank printer. No more cartridges it comes with an incredible amount of ink that can save you a lot of trips to the store. Get ready for the deans list. Whos dean . The Epson Ecotank. Just fill and chill. Available at. [ dramatic music ]ing ] ahhhh ahhhh elliott. You came back its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Maria welcome back, look at market this is morning, trade worries weighing here, s p futures down 11, nasdaq futures lower by 35, stocks slipped yesterday on news of sharp decline and chinese experts to the United States ahead of december 15th tariff deadline where the u. S. Is set to impose 15 tariff on 156 billion worth of chinese goods, agricultural secretary, though, sonny perdue says this round of tariffs are unlikely, this comes as the Federal Reserve set to meet bargaining to meet today beginning 2day meeting no further rate cuts expected but investors are looking for potential signals of whats ahead in terms of further rate cuts, joining us potomic wealth adviser mark avalon. Good to be here. Maria what drives markets at this point, we have usmca likely to come to the floor for a vote anyway, this week or next and then, of course, the china deadline, how important these issues for markets . Well, usmca will have a positive longterm Economic Impact for the country and the region, i think those the impacts of those are priced into stocks, the bigger impact and youre seeing it in the moveup yesterday is the uncertainty with the china trade deal this week, its either yes or a no or go forward with or without tariffs, thats undermining the strong Economic Situation here at home, right now its mostly about china trade. Maria what are you hearing in terms of what 2020 looks like, good panel this week on the barons program, barons round table. I was going to ask mark ava avalon what he sighs out there, his clients see, trade is pretty good with the exception, jpmorgan 2020 outlook just came out and they said the Political Uncertainty is hanging over it and i do want to point out the dichotomy, we are telling investors, dont worry about the daytoday tweets, theres no way unless youre trading 300 trades a day you will stay ahead of that and even that you will probably lose, that said this is real, this is affecting people, baron yesterday called this possible tariff round, my suspicions that they wont be able to pass it on and the Companies Wont be able to take the hit, if you could get rid, solve the trade problem right now you would see a bump, tax cut, huge bump in the markets. If you look at the journal you cant pick it occupy, yesterdays articles saying that individual investors are pulling back from stocks, you see some of the Family Offices like michael dell pull agoway and what do we tell the average investor to do . A lot of money has been made and a lot of folks taking risk off the table, thats one of the drivers, how much further can we go, remember the tariffs just dont impact the price of a product that target or walmart, it impacts cap x decision and the underlying fundamentals that drive the economy and thats whats been slowing down, a little bit of the manufacturing slowdown, a lot of the cap x slowdown is the trade overhang, its not just if theres a 10 the other tax, its impacting decisions and then its impacting global economies, thats why the european markets have been weak even though its a u. S. China trade dispute impacting global economies around the world and thats the overhang right now. I would say that the usmca might counter that a little bit, this is good news that we have a deal on the table, looks like that will be passed, at least that means u. S. Can make a trade deal. Usmca is going to counter that and fed is accommodating that, people should look at corrections if in whats volatile market, the trend is up, you still have good earnings outlook for 2020, you still have accommodative fed and so i think you will have opportunities, they may come after shortterm market pain. Maria what do you make of index of fear gauge, up 15 yesterday people were watching this move that both have been moving in the same direction for the last two weeks, mark, what do you make of that, is that a sign that more volatility is coming . When they move like they have recently thats usually sign that theres trouble ahead, the spikeup yesterday might be a reset because of uncertainty, nobody knows whats really going to happen with this trade dispute, think about it from investment standpoint, the vices is a great hedge for that, we will leave it there. Maria thanks so much. Good to be here. Maria be sure to tune in 7 00 a. M. , congressman secretary wilbur ross we will talk about china when the commerce secretary joins me in upcoming interview, more details on when he expects usmca to pass, push for impeachment, House Democrats to pass articles of impeachment, it is the most Christmas Movie time of the year. I love this song. Follow my lead. Maria we are taking a look at big business and Hallmark Channel and how the movies drive up sale, back in a minute. 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 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. I need all the breaks, that i can get. At liberty butchumal cut. Liberty biberty cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back, good tuesday morning, everybody, thanks so much for joining us, im Maria Bartiromo, it is tuesday december 10th, your top stories right now 6 30 a. M. On the east coast, futures lower this morning, take a look, we are expect august decline at the start of trading of 161 points, s p futures down 16 and nasdaq futures down 52, investors were focused on looming china tariff deadline set to take effect in 5 days on sunday, dow industrials down 105 yesterday, s p was down 10 points and nasdaq lower by 34, in europe this morning, stocks are also having a negative tone, ftse 100 down 110 points. You know that we do have the uk Prime Minister election this thursday, this week. In asia overnight little change, take a look, chinas inflation soared at the fastest pace in 4 years, this is important because the moving food process will go up and we will see more inflation in the food sector as a result of the swine flu in china, why College Educated workers are on track to outnumber those without degrees if r the first time, most wonderful time of the year is driving business, inside lock behind the magic of hallmark Christmas Movies and popularities are boosting business, making history, a famous rolex watch up for grabs at auction, we have it right here onset, we will check it out. Nancy pelosi and House Democrats plant to introduce at least 2 articles of impeachment against President Trump later this morning accusing him of abusive power and obstruction of congress, the House Judiciary Committee will vote on the articles on thursday, full house vote next week, joining us right now former u. S. Attorney bud cummings, thank you very much for being here. Good morning. Maria what was your reaction first to articles of impeachment, so much to talk to you about this morning. I think the articles of impeachment are part of a total charade and should be ignored by the American People and i think are being ignored by the American People. Maria what is the practical the president will likely get impeached by the house, right, and then we are expected that it falls flat in the senate, how does that impact his presidency for the rest of his presidency . Well, you know, ironically its actually helped this president because the American People, a lot of people in the middle wait today see what was this evidence of this horrible thing the president is alleged have done and they have heard absolutely nothing, no live witness has testified in the hearing to any firsthand knowledge to anything, they put on a parade of people that dont like donald trump and theyve given them an opportunity to sit there and vent and theres no one has stateed any crime or really any active misconduct, in fact, i personally dont know what theyre putting in the articles of impeachment and dont particularly care but its going to be a little bit of a curiosity to see what they put in there. Hi, bob nardeli, four congressional hear negotiation my time and never had to bring a snakebite kit as ive seen yesterday, the venom is outpouring to your point, why do they bring lawyers on that are so partisan and just ramble 45 to 50 points, to your point, doesnt seem to have any effect. This is what they have, they can see an election season coming up, their candidates are talking about Free Health Care for Illegal Immigrants and the Green New Deal to put, you know, a couple million americans out of jobs for no particular reason, they know they cant win a National Election on this, this is what they had and so they they are going after this impeachment, they hope to peel away some voters from the president but i think i think that its been so illegitimate that they are actually adding voters to the president s side. Maria looks like hes been able to raise more money in the midst of this as well, let me move on to the ig report, we have talked about this a lot in the last couple of years, this is looking at fisa abuse around the 2016russia investigation that was released yesterday, Michael Horowitz found several failures but also said that the russia investigation was justified saying that there was no political bias in the fbi. Im sorry, i find that laughable, but here is what the ag said yesterday, the Inspector Generals report now makes clear that the fbi launched an intrusive investigation of a u. S. President ial campaign on the thinnest of us possessions that in my view were insufficient to justify the steps taken, it is also clear that from the inception the evidence produced by the investigation was consistently exculpatory, nevertheless surveillance was pushed forward for the duration of the campaign and deep into President Trumps administration, in rush to obtain fisa surveillance of Trump Campaign associates fbi officials misled the fisa court, he also goes onto say they omitted critical exculpatory facts and suppressed information negating the reliability of their principal source, ig report found explanations given was unsatisfactory. Was committed in 2016 and 2017 by a small group of now former fbi officials, the malfeasance deflects clear abuse of fisa power, clear abuse of the fisa process, that was the ag yesterday following the ig report, that was william barr, what did you make of the report, comments . You and i sat on the show and speculated over 2 years on the exact issues and what might have happened, we underestimateed the malfeasance people from comey all the way down, i was astounded of content of ig report and the left is spinning it and hanging onto it and 19 times he said they found no documentary evidence of bias, what that means nobody on this team of bureaucrats wrote in the report, hey, by the way we are doing this because we hate donald trump, they didnt document it. They didnt admit it either, none of them said, you know, we really just hated donald trump and so we broke every rule in the book. Maria yeah. Thats all that means 476 places where they make point they dont find document that they admitted what they did, it is awful, they did every single thing wrong and couldnt be anything but intentional conduct or total negligent. Dagen wanted to put the steele dossier debunked and put into the community assessment, bud. Right, they havent corroborated any of it or parts to be false and here they are pushing it. Theres a small hero in the story, theres a fellow at doj on the first fisa application, i cant remember first name, stuart, i think, and he says, you know wait a minute, im not sure this is the right thing to do in this situation, a president ial candidate and the top management at the behest of ms. Page, mccabe goes over there and strongarms him and says this is important to the fbi and they go ahead and proceed to lie four times in every single application. Its not omissions, its outright lying, they either knew or incompetent managers, thats the only possibility. Maria the report clearly states that they relied on the dossier as the justification to get a warrant to spy on carter page and if they could get the window into the Trump Campaign and it also, it also mentions exculpatory evidence which we talked about a lot on the program and that exculpatory evidence is basically transcripts of George Papadopoulos talking to an informant, carter page talking to an informant where they clearly stated this is treason, we would never do that, we have no emails, we have no idea of any of this, about Hillary Clintons emails from russia, and that wasnt included in the warrant to to give to the fisa court because maybe the fisa judges would have said, wait a second, what about this, im not going to give you a warrant because of this evidence, but they didnt they didnt pass it through. Not maybe, maria, i can promise you, if they had told the truth and included even in the first application, the 7 things the oig identified that they failed to tell the fisa court or misreported to fisa court they never would have gotten the fisa warrant. You can tell im worked out about this, i look people in the eye and i said, hey, these are important tools we need for National Security, they are going to be given to responsible people and use responsibly, guess what, that wasnt true. That was a lie. Dagen you want the liar its comey, mccabe, all the way down to chain of commands, they are the ones who lied to fisa court. They jeopardized Law Enforcement to have tools in the future, thats a National Security issue, your family will not be as safe next year because these morones morons got on and did this. Maria extraordinary the coverup that we are seeing on right now, jim comey went on another network saying its all lies, its all lies, its just so obvious whats took place here and victory for devin nunes, brings you back to nunes memo where he outlines everything, among the few that kept following this and made sure that the public understood what went on so theres a victory there but we will see what happens with john durham, john durham and william barr came out and saying we do not agree with this, how long does Something Like that take, what would be your expectation or when we do hear the results of the now criminal investigation that john durham is handling . I did great things when i was u. S. Attorney but i declared i was going speed up process of investigations and i failed miserably in my district, these things take a look time, it wont be next week or next month, when john durham did this year, it made me strengthen and he was making a significant point, he knows more than the oig was able to learn and hes probably going to do something about it, i think i think that there was serious misconduct in the story and hes on it. Maria do you think theyll be accountability, would we actually see indictments . You know, i dont want to turn into what democrats have been, oh, sealed indictments, you know, they are going, i dont know, i dont wish for anybody to go to prison, i just want the truth to get out there, i think that there were serious misconducts, its going to be documented and people should be held accountable. Maria one of the issues is when you dont trust, you know, the process, you know, its bad for everybody, i mean, i think people want to see accountability so that they feel that they can trust the process again whereas a person in power will not put their finger on the scale. Bud said it right, its going to put a cloud over opinions as it would relate to this in our personal lives also, if you look at the search on the phone calls with nunes and so forth, it raises real serious questions. Bud great to have you this morning, thanks so much. Thank you, good to talk to you. Maria holidays with Boris Johnson, the british Prime Minister parody to sway voters in election, we are taking a look at popularity movie channel film why they may be an escape of the Political Climate coming up. 10 years ago, we started legacybox. If youre like us, you have a box of old video tapes, film reels, and photos, just degrading away in your closet. [nick] legacybox saves these memories by professionally digitizing them on dvd, thumb drive, or the cloud. [adam] its easy. Load legacybox with your media, and you get back your originals and new digitized copies. [nick] legacybox is simple and safe with over a half a million satisfied customers. Preserve your memories today. Visit legacybox. Com and get 40 off. [nick] thats legacybox. Com. Maria welcome back, christmas is big business and nobody knows how to capitalize it like the Hallmark Channel. Cheryl this seems to be their year with 7 million unduplicated viewers, they run holiday movies 24 7 morn doubled since they started a decade ago, i spoke with hallmark ceo bob abbott of the secret. Little known cable channel that launched in 2001 capitalizing on christmas and winning the Hallmark Channel wants countdown to christmas 10 years ago and whether its saturday night life or actresses moss, everybody is talking about hallmark, something not lost on ceo bill abbott. Everybody is buzzing about the Hallmark Channel, what is it . A combination of a few things, our brand is so strong that hallmark is synonymous to celebrations, we start with that and we take it and we bruise great content. Cheryl christmas empire has expanded from series xm holiday channels, holiday novels and this year hallmark monopoly game, and in november nearly 10,000 visitors flocked to new Jersey Convention center for the first ever hallmark christmas time, 3day event where fans could talk, immerse themselves in all things hallmark. Americas largest corporations are lock to go get on board the hallmark holiday train with product highend and sponsorships leading to Christmas Movies playing 24 7 from halloween to new year, campbell, jcpenney, legoland, many more, abbott says its all about the feelgood message. We provide positive content that you never have to worry you will feel uncomfortable or run for the remote or be in a situation that after a long day feeling badly about the world or about yourself. Hallmark actress echos those comments that the key to success is traditional nondivisive content. I think the world has gotten to be a crazier and crazier place and we need an escape, we need some place to go, a safe place to go for families to spend time together, reconnect with each other and reconnect with the good side of human nature. Cheryl channel turned out 63 films, 24 were Christmas Movies and content has drawn in a memo key to advertisers, female, 18 to 49, thats big business and with growth projections looking up, whats next . Jest better content, we are so we are good at content but can always get better and we are working very, very hard at that unique storytelling aspect. Cheryl maria, the question is really we have items that people are buying, their numbers have exploded this year, whats happening in the country that americans are gravitating to the Hallmark Channel . Even they say its a phenomena that they are surprised by this year. Maria maybe because theres such vitriol and, you know, on each side and such disagreement about governance and the administration that people just want a break and they want to just you know, happiness. Cheryl yeah, may be so. Yeah, my son michael nardeli was in christmas at homestead version in hallmark, as i said, its a safe place to go, you can watch the program with your family, theres no violence, theres no politics and its really cute, you know, i spiring stories that you will see, great program. Cheryl ive got my socks ready to go and hallmark monopoly game. [laughter] cheryl you got it, maria. [laughter] maria great. Please put that on. Maria cheryl, thank you. When we come back iconic movie moment in realtime, famous roll exwatch in apocalypse is up for grabs, we have it here on stage, stay with us 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. Including 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 two minutes or less. Get a nofee personal loan up to 100k. Get a nofee personal loan 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. Maria watch making history, and the headliner the famous rolex worn in multiple oscar winning film apocalypse now, joining us right now paul boutros. Thank you for having me. Maria tell us about the business of watches today. Believe it or not the market for mechanical watches has really grown especially recently, you would think that the smart watch would have made mechanical watches a relic and more people are buying and the demand is off the charts. Dagen can you talk about the watch that marilyn wore because when we were teaseing the segment because because he lost his mind making this movie and despite it being a classic, it was jinx with martin sheen suffering a heart attack during the filming of it, so is there is there a curse on that watch that you can talk about is what i was thinking . An amazing story of love actually, it comes to us from the husband of marlines daughter, the watch worn in apocalypse now, one of the most important films of all time worn by somebody who is widely considered the greatest actor of all time, amongst the world of vintage rolex watch, this is one of the most important. Dagen althoughly start wearing my watch like that. You can see where the face is on the inside. I bang my hands on the table. Iconic images of him wearing and he was on the set and the producers thought it would be too obvious, a colonel, why would he wear a roll exwatch, he said to the producers if they are paying attention to my watch, im not doing my job as an actor, he compromised and removed the maria the bidding begins in 6 digits . Beginning will begin in 6 digits, proceeds will go to charity, Charitable Foundation founded by the family, brando foundation, we encourage bidding, great opportunity for everyone and it will benefit charity. 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It us tuesday, december 10th. Usmca is done. Top trade officials from all three nations expected to meet in mexico city today for a signing ceremony. Futures pointing to a lower opening, despite the news. The dow futures are down 98, s p down 9, nasdaq futures lower by 31. Were expecting the bill to come to the floor within the next two weeks for a vote in the house. This after declines yesterday, dow was down 105, s p was down 9, nasdaq lower by 35. Investors are watching for any News Associated with china as that looming china tariff deadline sets to take effect in just five days. That is on the 15th. We are expecting any news before that. European stocks are edging lower this morning. You see the fq100 is down 73, dax lower by 184 points, thats one andahalf percent. In asia, markets were little changed. Chinas inflation soared at the fastest pace in nearly eight years driven by a surge in pork prices. The ig report is out, the Inspector General issued a scathing review of actions taken by the fbi in the probe into the trump campaig campaign involvemh russia. Bill barr and john durham came out and disagreed with the conclusions. In a few hours, democrats are expected to announce at least two articles of impeachment, abuse of power and obstruction of congress against President Trump. Pentagon contract controversy, am n soamazon claims that presit trump was, quote, intentionally trying to steer the pentagon contract away from Ceo Jeff Bezos. Netflix takes the crown, the streaming giant scored more golden globe nominations than any other studio. What does that say about the world today and a movies. Joining me to break it down, dagen mcdowell, jack otter and bob nardelli. Great to he see everybody this morning. Dagen not nominated, Robert Deniro for a best actor in a drama for the irishman. Bye. [ laughter ] joe pesci was nominated for the best supporting category, along with al pacino. But not deniro because it was awful. Maria do you think the derangement over President Trump has anything to do with some of the feelings on some of the movieses . Dagen i dont. I think this was a r horrible performance. Maria the movie is not good. Dagen this is the Hollywood Foreign press association, so this isnt regular folks who we love and cherish and appreciate. This is the Hollywood Foreign press. And even they had to hold their nose through that performance. Maria three andahalf hours. Did you see the irishman . I have not. Given his rants, ive not been a big follower. Maria i understand. We are looking at the top story this morning, is the president president s agenda. President trump set to meet with Russian Foreign minister sergei lad rof in was washington today. The report uncovered nearly 20 alarming and concerning errors by the fbi. John di durham is investigating poeen shalpotential surveillanc. Joining me now is lee zeldon. Thank you for joining me this morning. I thought it was stunning that the ig report came out and forced the ag, william barr and john durham to make a public statement, saying it does not agree with the conclusions. Whats your reaction to the ig . Its an important reminder that the investigation that was going on by horowitz was not the only investigation that was going on at the department of justice. So the Inspector General has a limited amount of tools, really has to focus their investigation primarily on people who are at the department of justice where the durham probe, he has more expansive powers to get interviews and information that might not be horowitzs disposal but what horowitz does uncover and something that is so important to have more transparency on and accountability is with regards to those errors, with regards to the admissions and the decision to obtain fisa warrants. The ig report points out, there was a decision not to pursue the spying warrants until in the middle of september when they received this steele dossier and its through omission, its through deception that they secure that first application. Its through omissions and through deceptions that they secure renewals and through that process the department of justice, the fbi follows something called the woods procedures and as is pointed out by horowitz, the woods procedures were not properly l followed here and if they were followed, that might have helped deal with some of the mistake thats were made. But as horowitz points out, even following the woods procedures wouldnt have corrected all the mistakes that were made many. So that is really Important Information where the fbi, the doj needs to improve their process Going Forward because if theres any court in america where the government should have the burden not only of providing evidence that best supports their case, but also he providing the evidence that best opposes their case, its inside one of these courts because the person youre seeking to spy on is not represented by counsel so a lot of mistakes were made and i think discoure ham will get to durham will get to the bottom of some of the outstanding information. Maria what do you think of jim comey, tweeting on im going to be on fox, theyre going to cancel me, oh, no, this is all lies, hes trying to put a damper on this report. We know there were 17 errors in terms of creating the just at justification for a warrant to spy on carter page and we know there was exculpatory evidence that was not handed over to the fisa court. What is l jim comey and his colleagues doing. We have Andrew Mccabe for a criminal rereferral on him. S hes saying this is all lies. My first thought on reading the tweet that jim comey put out is that he didnt actually read the report. If he did read the report, its dishonest and engaging in this spin of trying to put on a strong face, a strong posture to be on offense but he is not acknowledging, hes not accounting for all of the mistakes that were made under crossfire hurricane and hes the fbi director. So where the taught is tha tt the buck should stop at the top, hes advocating for zero accountability as if no mistakes were made at all and its a reaffirmation that President Trump made the right decision in getting rid of james comey because to have the Inspector General report come out and for someone like jim comey and Andrew Mccabe to say theres nothing to see here, no mistakes were made, it shows they didnt belong in the position this were in. Maria let me get your take on what were the most damning parts of the ig report. Its 500 pages. Its hard to read the whole thing. Weve been covering this for three years. We understand where the wrongdoing was. You i want to hear from you in terms of where the most damning issues were in the ig report yesterday. I think its good to read the summary in the first few pages, to start. You could go towards the back of the report, look at afe appendix one, read the entirety of appendix one, its a few pages. It has a lot of it spelled out. The back of the report, theres 10 or 12 pages that go into detail about the errors that were made with regard to the first fisa application and then the renewals. So es. As you point out, this is over 400 pages. Instead of reading it from front to back, my advice for those who are trying to get the top lines, read the first few pages, read appendix one and the explanation of it towards the back of the report. Maria and a youre saying that that will detail what . The wrongdoing was the exculpatory evidence that was not included in the fisa application, the fact that they relied on the steele dossier almost entirely . Anything else . Yeah, its going to detail the mistakes that were made with regards to the first application, detail the mistakes made in the renewals. It will detail the problem with not following the woods procedures and it also at the beginning of the report, it really does start off well. If you can only read the you first few pages, youll get a taste of the top line. Maria let me move on to china. Both sides of the aisle want to ban chinese busses and railcars after china reportedly banned Foreign Technology in its government an public offices. This is a big story. I dont know that people are focused on this enough because, you know, the story yesterday which was the cover story, beijing orders removal of foreign computers and software by 2020 in the ft. What this is doing, this is negating any opportunity for the u. S. To protect its intellectual property. Isnt that right . Right. Well, we have the president as is, the United States as is, has increased the leverage than weve seen at points in the past, if for nothing else, just the willingness of President Trump to go to battle weve threats. We do need to get at all of the ip infringement that weve seen, the stealing of intellectual property is something thats very damaging for individuals, for companies, for the u. S. Economy. So how this plays out, the threats alone have proven at times to give increased leverage to the president and these negotiations but throughout this entire process ive had the position that the longer that this goes on, the more threats and the more actually followthrough as it relates to those threats that you actually get to the point where both countries end up losing. So p i im hopeful that the president is able to bring this negotiation to a close, at least getting the first phase done as quickly as possible because there is a big benc benefit to e u. S. Economy. What should not be lost is the need to get to the Patent Infringement and the stealing of Identity Theft which is something that many people look at as actually the Biggest Issue here. Maria heres what gordon chang wrote. After all of the Cyber Security rules are in place, no Foreign Company mayen crypt data so it cant be read by the chinese Central Government and communist party of china. In other words, businesses will be required to turn over endescriptioen cryptkeys. So why do a deal if theres no opportunity to protect our intellectual property. On usmca, were told an agreement on passage has been reached. You heard it here first because i talked about this on thanksgiving. Whats your reaction to this and do you believe that we will see nancy pelosi bring it to the floor this week . I sure hope so. It would be fantastic. I dont know if its going of to happen this week or if its something that might happen next week. Its something that really has to get done right away. The deal is a huge win for President Trump but more importantly its a big win for the american worker. Its an important win for the u. S. Economy. Thats something that made a lot of people speak out with their frustration to nancy pelosi, is despite the fact that she dislikes President Trump, that she wants to do anything in her power to make sure he doesnt get reelected including this impeachment, to hold back on wins for the u. S. Economy where youll see jobs created, youll see an increase in u. S. Investment, where you could see a benefit to the u. S. Gdp, that was greatly unfortunate. So it would be very exciting to see this bill come for house passage, not just for that big win for the president , he deserved it, his team worked hard, but most importantly its a huge win for our country. Maria but not before she brings impeachment for a vote. I think that the who knows exactly how things will actually end up playing out. But what im hearing is that the last vote before everybody leaves the capitol for the christmas break will be the Impeachment Vote. That will be Nancy Pelosis gift to america is going to be that lump of coal. That will be the last act. So as far as funding the government, which needs to get done over the course of this next week or so before congress adjourns, as well as usmca and potential other legislation which will probably include different messaging bills, like nancy pelosi has a very partisan its a very lopsided Prescription Drug pricing bill that will not get a vote in the senate, i think all of those, from what im hearing, all of those will get done before the Impeachment Vote. Maria so then busy eight days that you guys have left and a then im talking december 20th or something for the Impeachment Vote then or that week. Congressman, its good to he see you. Thank you so much. Good to see you. Thank you. Maria coming up, amazon crying foul, the Technology Giant claims politics interfered in a critical defense contract. The fallout coming up. Then a christmas classic goes political. Oh, hi. Who is it . Carol singers. Maria british Prime Minister Boris Johnson has his own take on the infamous love actually scene. Well bring it to you when we come back. If you could make my wish come true. Let me treasure you. Managing type 2 diabetes . Audreys on it. Eating right . On it 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 is the number 1 prescribed pill in its class. Jardiance can reduce the risk of cardiovascular death for adults who also have known Heart Disease. 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Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. Maria welcome back. Another guilty plea in the College Admissions scandal. Cheryl on headlines now. Cheryl maria, thats right, pros you cuprosecutors say cali, carol littlefare admitted she paid someone for her son to take online classes, in order to graduate from georgetown university. She is the 53rd person charged in this scandal. Her son did graduate georgetown in 2018, but University Says it has not ruled out revoking his degree. Well, amazons political play, the tech giant is blaming President Trump for missing out on a major pentagon contract. Amazon claims that he launched repeated public and behind the scenes attacks against the company, ultimately losing them the contract because of a perception that amazon founder and Ceo Jeff Bezos is a political enemy. In october, a dod official dismissed the idea that the white house manipulated the outcome in any way. Over the weekend, bezos did say he wants amazon and big tech in general to work more with the pentagon, thats whats best for the country. And total domination on the small screen, netflix leading the pack at the golden globes, 34 nominations across film and television categories. Marriage store require which is brandnew, story, which is brandnew, and Martin Scorseses the irishman which weve talked about many times, both up for best picture. The tv show, the politician is nominated for best comedy and the crown for best drama. There is no golden globe nominations for a broadcast Television Show or an actor. I mean, what does that tell you about how things have changed so much . Maria thats what i took you away. I was so struck by that. It shows you that its all about streaming now. Interesting. Thank you, cheryl. Coming up, nearing the finish line, wilbur ross will join me on set to talk about the usmca as top negotiators head to mexico later today. Boris johnsons take take on a christmas classic, the british Prime Minister using love actually for his political advantage. Well show you how, next. Stay with us. Its time to play. Going to get a little bit sideways. Here, it all starts with a simple. Hello hi how can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. Some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Maria welcome back. Remember this moment from the classic christmas romcom, love actually . Oh, hi. Who is it . Carol singers. Give them a quid and tell them to bugger off. Silent night. Maria ahead of a contentious election, over a new brexit deal, Prime Minister Boris Johnson released an ad showing his own version of the love actually scene. Oh, hi. Who is it . Its carol singers. Give them a quid and tell them to bugger off. Silent night. Maria johnson holds up cards reading, your vote has never been more important, the other guy could win so you have a choice to make between a working majority or another gridlocked hung parliament. Joining us now is Jonathan Goldstein to talk more about this. What are you expecting from this election . The conservatives chose boris because of his name recognition. Hes the of most recognizeable and probably politician in the region. This could get him over the line. The real challenge is to put into practice the words, get brexit done, which is the underlying theme of the love actually film because we all know that over the next 12 months he has to do a trade deal with the European Union and thats his biggest challenge. Maria the u. S. Also wants to do a trade deal with the u. K. Do you think britain leaves the eu ultimately. I think it does leave the European Union but it stays close to the European Union. There are certain aspects well keep control of, in particular immigration. I think in trade terms its important for us to stay close and i think we will. Win of the big discussion points about one of the big discussion points about brex it is the whole Financial Community and financial processing and clearing. You talked about the difference between the physical assets of the u. K. Versus rest of europe. Whats going to happen there . Thats really an unknown for a lot of major Financial Institutions. Where do they go and what should they start leaveing in. Leaving . Before the brexit t of the Financial Institutions were threatening to take their people into europe. Thats not happened and thats not going to happen. London is the greatest city in europe and if you want to live and if you want to attract the best people, the best talent to your business, you want to be in the best city. And london is the best city in europe and it continues to be. We havent seen much migration. In fact, weve seen growth. Weve seen the Technology Companies growing fast into london, weve seen the Financial Companies remaining steady. I think thats been the narrative thats been overplayed and that should not occur in the shortterm either. You heard it here. Is there any doubt that brexit is going to happen . Theres always doubt. Come thursday, there could be a coalition government. The stat you need to watch for when the exit polls come out is that r Boris Johnson needs to be leading by 7 points in the exit polls to have a working majority. If he does that, they will pass the withdrawal agreement, we will leave the European Union and move on to the next stage of the negotiations. Maria let me ask about private equity and where you see opportunities. Youve been incredibly successful in terms of finding growth stories within private equity. Where do you see the opportunities today . Where we focused is investing in areas where property needs solutions, needs experiences, be that in sport or entertainment. We found growth areas. We know the Shopping Centers are dying, we know there are real problems. We know they need attraction toss bring into their businesses. We have a crazy golf business, rather amusing, we have a sports business called st. James, we have a coworking business and womens empowerment business. Were looking for business thats are looking to grow. Maria these are selective companies, not necessarily a sector. Correct, thats right. What youre doing in our world, in our area, is youre looking for areas of businesses that can use up the space thats currently being underused. Maria do you worry private valuations have become excessive, look at what happened with wework and juneer. Uber. Theres no doubt hadt wework and uber got a bit too close to the sun. And im afraid its come back to haunt them. Having said that, at the heart of it is an underlying strong business and at the part of it wework has changed the coworking business and its changed it for good. Dagen its worth a fraction of where it was valued. It was never worth the 47 billion thats was talked about. If we were saying a Young Company was worth 8 billion, we would say what a Great Success story. The problem is they pumped it too high and too far. Dagen and turned a blind eye to management. 100 . Dagen the ridiculous behavior of the management. Is that a oneoff with softbank or is that a problem throughout the private investment world . Its not for me to colt on softbank but i dont think its itsen testimony micitsindemic. I think people are focused on getting profitable businesses, getting businesses up to scale, helping businesses he grow and i think the danger is to he get caught up in your own narrative. Wework did that. Its paying the price for that. Maria are you worried about 2020 in terms of the economy . The outlook for europe is solid. The outlook for the u. K. Is solid. Our Unemployment Rates are low, our inflation rates are low. The same here. You have your risks, in particular trade war risks, but i think ultimately were living in a low Interest Rate environment with solid economies and hopefully that continues for the time to come. Maria all right. Well leave it there. Its great to get your insights. Coming up, usmca nearing the finish line, commerce secretary wilbur ross is here to talk about the trade deal as negotiations head to mexico today for a signing ceremony. And a fan favorite steps up to the wheel. Pat is recovering from surgery and hopes to be back real soon. Im happy to step in and help out and thanks to disney magic, minnie has the power to light up the board. Maria vanna white takes over hosting duties for the first time ever. Well tell you all about it when we come back. Stay with us. In a multitude of countries, where we get to know the people that drive a companys growth and gain new perspectives. Thats why we go beyond the numbers. T. Rowe price. Invest with confidence. Woi felt completely helpless. Hed beyononline. Umbers. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. Maria welcome back. Our top story this half hour, the usmca bill, will it come to the floor this week or next . Democrats and the white house have come to an agreement on the trade deal with a signing ceremony in mexico set for later today. Passage in congress possibly coming this week which was reported first on this program before thanksgiving. The usmca vote, it could come to a vote next week. Sources in washington telling me that it is definitely going to happen before the end of the year. President trump and House Speaker nancy pelosi both expressed optimism for the deals passage. Its going very well on usmca. Im hearing very good things. Im hearing from unions and others that its lookinged good and i hope that they put it up to a vote and if they put it up to a vote its going to pass. A lot of democrats want to pass it too. Were not quite finished yet but were within range. Thats the way i would say it. And it is something that hopefully, if we can work out the final details, which is like a moment of truth, its no discussing it even longer, either yes or no in terms of both sides on this. Maria joining me right now is the commerce secretary, wilbur ross. Mr. Secretary, always a pleasure to see you. Good to see you. Maria thank you for joining us. Where are we on usmca . Well, were within inches, maybe millimeters of a deal. I think the remarkable thing is that it took so long to make such small changes insisted on by the democrats. In effect, they gave trump the leader of the union veto power over the house of representatives. That seems weird. Maria what tweaks were made . Well, we have to see the very final document because its still being drafted but tweaks were in the area of labor enforcement. Now, the joke there is that the nafta agreement had no enforcement provisions, so anything here would be better than what was in nafta. Second, some tweaks to digital commerce, liability questions, fairly technical issues. And third, they were complaining about the amount of years protection biologics would get against generics coming in. Maria i know that the republicans wanted 1 o 10 yearso a company can hold onto a patent for 10 years. What is the number now . Were talking about a smaller number. In the u. S. Its longer than 10 years anyway. So this is a lot of commotion about fairly small changes and i think its set up so that they can claim they played a role in the negotiations. Maria do you expect that were going to see her bring it to the floor this week . Well, it will have to be this week or very shortly thereafter if were going to have it. I think from their point of view, the timing is quite important in that here is this devastating report about the fbi and the way they mishandled everything relating to the Trump Campaign, convenient to have some news to distract people. Maria yeah. Someone was telling me, one of my sources in washington said they could do it simultaneouslynd have a vote in the house as well as the senate asenateto make it fast passage. Is that what you would envision that its a simultaneous vote o it could get to the president s vote sooner their later. Every day that it isnt approved is a day delayed in the benefits to america. The 176,000 new jobs arent going to get created until the usmca goes in. All the other improvements, the 34 billion investment in the auto industry, that wont happen until usmca goes through. A whole host of things. So every day is money out of average americans pockets. Maria sounds like this deal could be one of the biggest victories for President Trump. Oh, i think it is. Its an enormous this is the largest trade deal in the history, not just of the u. S. , but as far as ky tell of the whole as far as i can tell, of the whole world. Maria then theres china. We know the deadline for the tariffs is coming this sunday. Sonny perdue said he doesnt believe the planned tariffs will be implemented against china this sunday. The tariffs would hit an additional 160 billion worth of chinese goods including toys and smartphones and that would take effect this sunday. How do you see this playing out . Well, the important thing is to get a proper deal with china, whether we get it the day before december 15th, the day after, or a week after, much less important than getting the right deal. President trumps in a very good negotiating position. Our economy is booming. You saw the 266,000 jobs he created in the most recent month. Chinas economy has got its problems. Maria weve got those incredible numbers on friday, 266,000 jobs. You look at whats happening in canada, for example, they cut 70,000 plus thousand jobs. Germany is in recession. Europe is slowing. Once again, the u. S. Is turning is the gem of the world. Does that continue in 2020 . Well, we are the engine thats driving the world right now, because chinas slowing down. Europe as you mentioned has got its own problems. Strangely, one of the Fastest Growing countries in europe is greece. As theyre coming out of their recession. But u. S. Is a big driving force and thats great. Its wonderful for us to be the part of the world that grows rapidly. Maria once you get china done, even if its a phase one and you get usmca done, is the thinking you turn your attention to europe in terms of trade issues there or is it a different trade deal . Well, remember, you have the whole question of how brexit comes out. The easiest trade deal for us to make is probably with the u. K. Their economy is much more similar to ours than either of ours is to the eu. So that would be an easy deal to make and a very friendly deal, because were in such good terms with the u. K. And the importance of that is then eu will eventually have to make a deal with the combination of u. S. And u. K. Maria are you and your colleagues okay with doing a phase one deal with china that does not include the enforcement of intellectual property theft . Well, were having very good discussions on intellectual property and its more than just the theft. Its the forced technology transfers, its the equal competition, its procurement regulations, its a whole lot of things. There may be some of that addressed in the ultimate phase one. But for the most part, the harder issues are for later on. Maria so will phase one be largely about trade, china buying more Agricultural Products . It will be largely about trade. Maria and opening up Market Access. Hopefully. Well, Market Access is tied to the commitment to purchase 40 to 50 billion more of agricultural goods. Now, that 40 to 50 billion is looking more and more like they have to do it anyway. Theyve already been forced to raise the price of pork 50 since august for a poor country, to have 50 increase in one of the staples of their protein diet is a big, big deal. Maria i was l tol told by onee that there are 250 million sick pigs in china because of the swine flu and they just sent them to the slaughterhouse and theyre making meat. Well, they do. Maria even though theyre sick. You cant get sick from a diseased pig. As you kill the pig, what do you do next year . The dead pigs dont breed. Maria unbelievable. What a story that is. I want to ask about intellectual property as relates to the new rules that china came out with. You saw the Financial Times story yesterday, reporting that chinas government is requiring all state offices to remove foreign hardware and software within three years. 20 to 30 million pieces of equipment could need to be replaced and could affect u. S. Firms like microsoft, dell, hewlettpackard. They say no Foreign Company may encrypt data so it cant be read by the chinese Central Government and Government Party of china. Businesses will be required to turn over encryption keys. Whats the impact of this. I think its a worse impact on the Chinese People than it is on anybody else. The whole business is really a response to the rulings weve made on huawei, both what commerce did and what the fcc did, requiring the huawei equipment to be ripped out of the rural telecoms. So its partly that. So its retall y rets retaliat. Ry. It shows that china doesnt want any data to escape its control, its notice, its surveillance. Its a horrible thing from a civil rights point of view. Maria you how does American Business deal with that . Gordon chang writes chinese officials will be permitted to share seized information with state enterprises. Remember, its been the law for quite a while that chinese businesses including private businesses have to cooperate with the Peoples Liberation army and with the Security Forces and theyre required not to disclose that theyre doing so. Thats a horrible feature. So this is just a continuation of that same behavior. Maria so it sounds like youre not worried about these new rules. This is a huge day, secretary. Its a huge day. Its a winning day for the president. The Inspector General report finding 17 socalled mistakes in the fisa applications. Thats terrible. Maria they used manipulated data to get a warrant to spy on cacarter page to get a window io the Trump Campaign and even after the president was inaugurated which was quite extraordinary. I know william barr pushed back on the conclusions of the ig report. I think the real report will be the dunham report. Maria do john durham, yeah. Thats going to deal with indictments and real action. The ig report said, well, we couldnt really prove that there was bias. Well, when people write horrible emails attacking the president and then they alter documents and they leave out bits of exculpatory evidence, what more do you need to connect the dots . Maria exactly. Usmca what dust it mea does doe. It phases in over a five year period. By tend of it were talking about somewhere north of 176,000 new jobs, potentially as many as 589,000 new jobs. Maria wow. Depending how it goes. And thats according to the International Trades commission, an independent body. So its a really powerful thing. Maria wilbur ross, great to have you this morning. Thanks so much. Commerce secretary, wilbur ross. Well be right back. One of the products i helped develop at 3m was a more secure diaper closure. There were babies involved. And they werent saying much. Thats what we do at 3m, we listen to people, even those who dont have a voice. We are people helping people. vo the flock blindly flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. shaq chime magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the Epson Ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The Epson Ecotank. Just fill and chill. Available at. [maniacal laughter] gold. Gold right, uh. Thank you, for that, bob. But i think its time we go with gbtc. Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. Maria welcome back. College educated workers are taking over the floors in american factories. Cheryl casone with details in headlines now. Cheryl College Educated workers are again taking over the floors of the factories because according to the journal, manufacturers are poised to hire more College Graduates in the next three years than workers with a High School Education or less. This is largely because of an increase of jobs that require problem solving skills and thinking about technology in the factories as well. And for the first time in 37 years, wheel of fortune favorite vanna white is taking control of the popular game show, at least temporarily. All right. Well, youre going to start that round but im going to give the wheel a final spin. That wheel is heavy. Oh, no. My first spin. Look at that. Oh, no, im looking at the wrong arrow. How do you do this show . [ laughter ] cheryl hey, its tough, its a tough job. She stepped in to host after pat sajak underwent emergency surgery. She will continue to host the show for the next three weeks. Minnie mouse is going to take over her spot, virtual minnie mouse, like not real. I think its kind of cool. What do i know. Dagen i met merv griffin once who created wheel of fortune and jeopardy and he looked at me and said, you have a very large head, i bet you look good on tv. Vanna white has a large head too. Maria quick break and celebrating made in america, one Company Makes educational toys right here in america. Were going to check them out when we come back. Stay with us. 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 colon Cancer Screening for people 50 plus at average risk. Some things are harder than you thought. And others are easier. Like screening for colon cancer with me, cologuard. Im noninvasive and you use me at home. Im also effective. I find 92 of colon cancers using dna in your stool. So why wait . Cologuard is not for those at high risk for colon cancer. False positive and negative results may occur. Ask your Healthcare Provider if cologuard is right for you. Most insured patients pay 0. [ electrical buzzing ] [ dramatic music playing ] [ squeaking ] [ screaming ] elliott . [ gasps ] elliott. You came back my son. My, my family. Lots changed since you were here. Its called the internet. Whoa whoa holiday movies. Im dreaming of a White Christmas family. Home. Woo [ gasps ] woohoo woo ill be right here. Maria toys that teach, lukes toy factory designing educational toys right here in america. The Company Targeting children ages 3 and up who are outgrowing baby toys but arent ready for complicated toys. Joining us now is the toy designer, luke barker. Thank you for joining us. Great to be here. Maria the materials of these toys feel so great. You founded this business with your father. Yes. Maria and another father son pair. Tell us how you got started and the background of the company. Well, basically we got started in the aftermath of the chinese lead paint scandals with their toys. We decided to make toys in america so we could have an absolutely safe chain of custody and it turns out that while doing that, we also found out there were a number of add additional advantages to making toys in america such as in the best case scenario, when you make a you toy in china it takes at least two months to get here but when we make our toys in the u. S. , our manufacturer is in connecticut. When a part is complete, its on our premises the same day. Maria its extraordinary since 80 of toys right now are made in china. How much more expensive is it for you to make your toys here as opposed to going to china and doing it . And weve got to talk about the materials. The toys feel so good in terms of what theyre made of. Tell me about how expensive it is versus china. It is slightly more expensive on a per unit basis but the gap between the two prices is closing quite quickly. China is basically running out of young factory workers, so their wages are going to go up they say within 10 years or so, like china will basically be at the same level as a lot of states in the southern u. S. Maria youre having way too much fun playing with those toys right now. Dagen its kind of how you educate your kids and its simplicity is best, is it not . These are interchangeable, so i was trying to like you can have a ladder on the back of the fox news truck or you can have them hauling ca cargo, you could have a fox news dump truck. Maria what are they made of . Theyre made of of wood, plastic and composite material, onethird filler, in most cases sawdust but with this truck we use other materials like walnut shells and coconut shells and flax fiber. And the other part is polypropylene plastic. We can make a toy that feels like a wooden toy but it has molded details like a plastic toy. If you make a wooden toy its expensive and time consuming to carve the dump truck. Maria i love it. You wanted to jump in. How do you go to market, real quick, for our viewers. We sell president electly directly online and in smaller stores. We also do quite well in a lot of gift shops. Maria luke, thank you. Luke barber. He well be right back. loud fan noise children playing Music Building experience the power of sanctuary at the lincoln wish list sales event. Sign and drive off in a new lincoln with zero down, zero due at signing, and a complimentary first months payment. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. 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With the galaxy note10, you can shoot, edit and post thumbstopping videos, all from one device. Samsung business solutions. But at fidelity, value is more than just talk. We offer commissionfree online u. S. Stock and etf trades. And, when you open a new Fidelity Brokerage account, your cash is automatically invested at a great rate thats 21 times more than schwabs. Plus, fidelitys leading price improvement on trades saved investors hundreds of millions of dollars last year. Thats why fidelity continues to lead the industry in value while our competition continues to talk. Talk fidelity. Much less important than getting the right deal. Maria ross confirming my reporting that top trade officials are now agreed upon in terms of a usmca, that will come to the floor in the next few days. Officials are headed to mexico for a signing ceremony this morning, expected to meet in mexico for that ceremony. Secretary ross said it will come to the floor in the next couple of days. This week or early next week. Declines however yesterday on wall street and today as well. The Dow Jones Industrial average was down 105, s p was down 10, nasdaq lower by 35. In europe this morning, stocks are also edging lower, take a look. We have the fq100 off of the lows of the morning, down 66, cac down 43 and dax in germany lower by 178, thats one and a third percent. In asia overnight markets were little changed. We had Economic Data out of china. Inflation soaring at the fastest pace in nearly eight years. All those stories coming up this tuesday morning. Joining me to break it down, dagen mcdowell, jack otter and former home depot ceo, bob nardelli. Great to see everybody. Great to be here. Maria that was a fun story, the toy maker. Love those toys. Its the issue about toys r us, you could shop online, you could shop an aisle, but losingg the destination of toys r us has been a blow to people who want to bring your children or grandchildren to the excursion, the excitement of the excursion. Maria this is a huge week. We talked about this yesterday. We have usmca coming to the floor this week, a china deadline in about five days, youve got a fed meeting, a twoday fed meeting, an election in britain for the next Prime Minister. What else. Dagen and were trying to digest the Inspector General report that came out and one thing i wanted to quickly point out in terms of jim comey, the former fbi director, full disclosure to the Inspector General, certain employees who agreed to interviews, including jim comey chose not to request that their security clearances be reinstated for their interviews, therefore we were unable to provide classified information or documents during the interview to develop their testimony or to assist their recollectionses of relevant events. So it was maria that wasnt by design, right. Dagen that was a carefully crafted stonewall by mr. Comey. Maria it certainly was. We continue to hear him pushing back against what we saw in the ig report this morning. Our top story is the ig report, along with the articles of impeachment, House Democrats are expected to draft two articles of impeachment against President Trump today. One relating to abuse of power, the other dealing with obstruction of congress with the announcement in the next hour that comes amid the release of the long awaited Inspector General report which looked into fisa abuse during the 2016 election. The report found there were failures at the fbi but also said that the russia investigation was justified. A that investigation meaning collusion with donald trump. It found no political bias in the fbi, extraordinarily, given the incredible texts between peter strzok and lisa page that were quite obvious. The president weighed in yesterday at the white house. The ig report just came out and i was just briefed on it and its a disgrace whats happened with respect to the things that were done to our country. It should never again happen to another president. It is incredible, far worse than i would have ever thought possible. And its an embarrassment to our country, its dishonest. Its everything that a lot of people thought it would be, except far worse. Maria joining me right now is texas congressman, house judiciary and Intel Committee member, John Ratcliffe. Its great to see you this morning. Thanks very much for joining us. You bet. Maria youve been terrific. Weve been watching you for the last couple weeks, in materials of the Intel Committee and in judiciary in terms of the impeachment hearings. Give me your reaction to the ig report. The findings dont match the conclusion. The findings are literally an indictment. They find clear, as the attorney general said, clear fisa abuse, that the fisa court was repeatedly systematically misled with false statements, misrepresentations, the failure to turn over exculpatory evidence. And reallies thats what the Inspector General was supposed to look at and he did. And i think those findings really are an indictment of jim comeys fbi and the leadership there throughout this process. Unfortunately, the headlines focus on the conclusion that he made about the origins of the trump russia investigation, where he said, you know, it was properly predicated and came to that conclusion. I do think its interesting that immediately we heard from john durham, who has broader jurisdiction, meaning he has greater ability to reach those conclusions and said, look, we told the Inspector General theres more there than youre aware of and our conclusions are going to be different with respect to preed case. So un predication. I think the headlines havent underscored the facts in the ig report, which are fisa abuse was very clear and that this was a clear validation of as you said earlier the nunes memo and indictment of jim comeys leadership at the fbi throughout the pi fisa process. Maria yourself, devin nunes, the two of you have been for three years now exposing what took place and educating the American People on what took place where you had people in powerful positions trying to stop a duly elected president and we thank you for that because youve done an incredible job in educating us. The attorney general said this, the ig report makes it clear that the fbi launched an intrue testifintrusive investigation oe slimist evidence. The evidence was consistently exculpatory. The investigation and surveillance was pushed forward for the duration of the campaign and deep into President Trumps administration in a rush to obtain surveillance, fbi officials misled the fisa court, omitted critical ex cul ex cully facts. The ig found the explanations given for these actions unsatisfactory while most of the misconduct identified by the ig was committed in 16 and 17 by a small group of former fbi officials the mall fe malfeasane detailed in the report reflects clear abuse of the fisa process. What now . Obviously the conclusions like you said do not match with whats happening with the findings inside the report. What happens now, congressman . Well, i think that attorney general barrs summary there really does reflect what is in the Inspector Generals report and even if you concede the conclusion that the very low threshold to start the investigation was properly predicated, which i disyou agree with, the attorney general does and certainly sounds like john durham disagrees with it as well, even if you concede that point, however, starting it is one thing. Continuing it is Something Else all together different. And theres nothing in here that would allow this investigation to continue. Almost immediately, under cover fbi agents and confidential human sources were getting exculpatory information, were getting transcripts that blew up the underlying predicate, the reason that was supposedly valid for opening that and yet there was a systematic and continuous effort not to give that information to the sai court. That was where the fisa court was misled and this should not have continued even if you concede it should have started. Thats what i think john durham is going to continue to explore. One of the questions i would have if i were Lindsey Graham tomorrow and i was talking to Michael Horowitz, is how can you say theres no political bias here when you have one of the lawyers involved with this who doesnt like donald trump and his text t reflect he says viva de resistance when trump gets elected, alters a document for the fisa court. Those are the types of things that john durham is looking at as he takes a deeper, broader look into the origins of this. Maria the president tweeted less than an hour ago. Heres what the president said. I dont know what report Christopher Wray was reading but it wasnt the one given to me with that kind of attitude, he will never be able to fix the fbi which is badly broken despite having some of the greatest men and women working there. So do you think that wray is going to be able to fix these issues . Does he keep his job . Whats your reaction to the president s tweet . I was disappointed in how mutemuted director wrays commes were, sort of were going to implement this stuff. We need to do better. Look, i was getting calls last night from my former colleagues, some of whom are at fbi or used to be at the fbi. They were horrified and dismayed at the findings in here. They could not believe the level and efforts of some at the fbi to continue a Counter Intelligence investigation against a president where there was no predicate to continue it. I think one of the other things thats interesting that no one has focused on here is within five days on august 4th, five days after this supposedly properly predicated investigation was opened by the obama administration, five days later john brennan spoke to his russian counterpart, the head of russian intelligence and said we know what youre doing. Cut it out. Knock it off. A month after that, president obama spoke directly with Vladimir Putin and said we know what youre doing, knock it off. So the obama add administration immediately let the russians know that what they were up to and that there was interference in the election but they never told the Trump Campaign, they never briefed donald trump as the candidate. I think thats one of the issues that john durham is looking at, one of the reasons that theres concern here about bias as it went to how this was opened and why hes going back and looking at some of the Intelligence Agency involvement in this. Maria and john durham of course his investigation is a criminal investigation and you wouldnt have a criminal investigation if you didnt think there was criminal activity happening. But what are you going to do about it . We know how deeprooted this has gone and yet jim comey is out and about, saying its all lies, none of it is true, im vindicated. Then youve got adam schiff Holding Hearings for impeachment on, again, thin evidence. Youre in the minority. So what can you do in terms of making sure the public understands this farce . I think the recent impeachment proceedings underscore what we can do. The American People can make up their own minds and theyre watching literally as republicans have both hands tied behind our back in an unfair process where someone like adam schiff gets to be the judge and the prosecutor, where they get to pick the witnesses, the order of the witnesses, the things witnesses are allowed to talk about. They can see how contrived this is, how unfair it. Yet, they can see that the democrats are still losing. Poll after poll coming out, particularly in battleground states, showing that these impeachment proceedings even with all of those lopsided Home Court Advantages what that the democrats keep cooking up,consp. So that is bha i am going to continue to do, make the point, whether it is five minutes at a time hearing where that is all i get to say, it makes a difference because that speaking to American People about directly about these things, they are smart enough to know, that when something doesnt look or smell right. Yeah, i am good you mentioned that us about true you only get five minutes hard to make the case but have been doing a terrific job quick before you go are you expecting to vote on usmca this week . Yeah i think the democrats as titanic goes down on this impeachment thing, realize that they have to pivot you know the president saying they are donothing democrats, really is resonating with American People. Of the yesterday, as a democrats kept saying, impeachment the most important thing we can be doing most americans were thinking no the cost of Prescription Drugs passing bills that will take those costs down, that is important. Or usmca. Getting that passed is a farmer or rancher so i can do the things, that i need to do to take care of my family that is a lot more important than some contrived desperate attempt to remove a president that i just hate. Maria i know that you are dropping that Prescription Drug bill as well, good to see you. Thanks so much. You bet. Maria see you soon congressman John Ratcliffe. Juul cutting valuation. Popeye to costco creates a piece of art out of chicken sandwich, back in a minute. Into opportunities. But by going out in the field, and meeting management, suppliers, competitors. In the end, its these unique companies with Creative Business models that will generate value for our investors. Thats why i go beyond the numbers. Woi felt completely helpless. Hed online. That will generate value for our investors. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. Maria welcome back, rising tensions or capitol hill has nothing to do with impeachment though he Cheryl Casone with details. Cheryl that is right, maria. Tiktok chief has meetings with several republican lawmakers, saying schedules in issues holiday rush lawmakers are not happy here is what senator tweeted about this quote news tik tok u. S. Canceled meeting with me this week, not willing to answer questions get a call from beijing, question mark . Tiktok lost popularity is under scrutiny for connections with Chinese Government video downloaded a hundred, million times, second time tiktok canceled a meeting the last minute. Juul in jeopardy the wall street journal reporting evaluation in the company by half, now 19 billion dollars, this happened in september. Altria took a hit from investment in october, valuation shrink to go 24 billion dollars, first there was a chicken wars now art popeye duct taped sandwich to canvass banana you can see on screen unlike the fruit the popeye sandwich not eaten set same price as counterpart, there is an extra, how much the sandwich cost if you buy it you know at popeyes this may all of this seems to be showing somewhat silliness the dazzle in miami okay. I mini a boi he i mean a banana paid 127 dollars. Academic training to develop that. [laughter] amazing. I think genius. What were saying couple bot it have an interview in New York Post today about who paid 120,000 dollars for it i think they headline is banana critics can get bent. What are they planning on dock with it like banana, i know like three days later, all like bugs start it should have been more green green banana lasts longer. Steve paid i forget memorandum millions for damien shark in form mall hyde the shark are started to decay had to fix it steve cohen Hedge Fund Manager had to pay to have it if figuresed. Futures lower wilbur ross telling me last hour, that getting the right deal is more important than fast deal usmca is coming soon. Back in a minute. 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. Including your Interest Rate right by locking in a fixed low rate today. And you can get your money right with sofi. 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These we actually surveyed our readers we had an Online Survey people came in, told us what they liked about their cards, and we our leaders travel a lot told us what is the best. You made a good point during the commercial jack this is really currency. Barrons conference somebody asked second largest currented circulation around the world was people guessed yuan but no, it is points ripe for devaluation big fear i am to blame i have two and a half million points miles in my accounts, sitting on them and once this a while programs do devalue, we say earn and burn quickly as you can, i should be following my own advice. Yeah. Some issues with those points is if you want to transfer them, for example, to other members of the family, you are limited and there is a cost second or with it, am i correct. Depends on programs, airlines are Getting Better at this jetblue lets you point pool your points between family members hilton doing the same, others dont but now, delta united miles dont expire my daughter 4 1 2 has miles and when she gets enough for free trip will be able to take one. You make a good point it is true, i was planning a trip to italy with sister, and it was so incredibly expensive i forgot i had points on American Express so i went and i looked i said lets look at how many points i have, i got both tickets free, my points paid for it, it was so expensive i am thinking wow i mean people dont remember how many points they have. Dagen i can also get gift cards, at major retailers you can give for holidays. Of the and it is like you could give gift card worth hundreds of dollars, to all of your family mexico, depending how many points you have. It is an option, i am taking my family to saint kits january five tickets free two Different Hotel rooms Luxury Hotels free i am excited about that. Reminder to check your points, on your cards. Yes. When you said not best value what did you mean by that. We looked at value of each program, and we could monthly evaluations to see best, gift cards not best, o cent per point or less if you transfer to right Airline Flying Business Class you can get two, three, four cents per points as value. Which Domestic Airline won. Big one jetblue, delta, delta won for Loyalty Program best elite program, and also cobranded credit card jetblue won for best domestic coach and best domestic Business Class. I fly delta regularly. Love he delta. Doing a fabulous job. In the facilities, the principals, and the service amazing, what he has done. Delta won me over i am not just saying that because i want ed to come on show. Great to have you thank you so much, and you know this is one with of those segments year invested in you, check your points, make sure you understand how many points you have, because it really worked out big for me for sure see you soon thank you quick break then trade and markets, futures lower on looming trade deadline consumers second wilbur ross told me last hour getting that right detail most important than a fast deal ig report out cites fundamental errors actions at fbi reveals no evidence of political bias, according to about Michael Horowitz aurnz of the rush probe findings to impeach the president stay with us. vo the flock blindly falls into formation. Flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk maria welcome back, good tuesday morning. Thanks for joining us. Im Maria Bartiromo. Tuesday, december 10 good morning, top stories right now 8 31 amendment east coast the push for impeachment goes on, House Democrats are set to announce at least two articles of impeachment against President Trump in less than 30 minutes, despite chaos on capitol hill good news on the trade front, usmca, is done you heard it first wilbur ross just confirmed my reporting that we are within mill meters he said of a deal nancy pelosi making announcement about if 10 a. M. Or an this morning on china secretary ross told me a good deal is more important than fast deal, weve got that deadline tariffs on the horizon sunday, markets lower this morning we are off the lows, of the morning investors keeping eye on china tariff deadline to take effect sunday, see what happens phase one deal, the tariffs in place, or does the president push it off in hopes of doing a deal . Dow futures down 12 points, well off the lows, s p futures down a fraction the nasdaq futures lower, there turning positive real time looking at Economic Data out markets reacting to it s p 500 up now a half point, nasdaq up one point, and as you see Dow Jones Industrial average futures positive as well we are watching this market trade meyer, on Economic Data that is hitting the tape right now perhaps, on news on china we will check on that, right now. Meanwhile, european stocks this morning, are edging lower here off lows of the morning ft 100 down 23 cac quarante down seven dax in germany lower by 82, earlier the dax was down almost 200 points, we are down 82 points right now dax, asia markets like this little changed we had economic date out of china inflation soaring the fastest pays nearly 8 years driven by a big move up, in the price of pork. He netflix shares under pressure on downgrade gerri willis on the floor looking at netflix down almost 2 a market that is reversing categorize as we speak gerri. That is right good morning, good morning to you, yeah seeing netflix down actually improved was down more than 2 this morning, after an analyst wrote 2 page report i have it here saying that the company is going to have to watch a low priced service they are the most expensive in the marketplace right now you pay as much as 16 dollars a month to get netflix. Now apple and disney in marketplace martin saying well regarded analyst here that the company is going to have to set up a new service another tier use ads so that really weighing on stock she sees company losing 6. 6 , four million subscribers if they do not make this move, so the stock Dollar General also in news, that company saying that they are going to launch cbd products into many of their stores, 20 cbdproducts as you know Companies Like walmart, target have been slowly corporateing these products you into you offerings waiting decisions from fda very skeptical only putting in creams ointments say they will and an to seven more states byspring of 2020 those shares actually had a turnaround they were down earlier, now marginally higher back to you. Maria thank you so much gerri we are looking at labor costs, data, as well as productivity data, something in numbers has market completely reverseing course futures rising there is still uncertainty around tariff deadline the duties would target 160 billion of chinese goods i spoke with wilbur ross, said the u. S. Would be willing do allow tariffs to hits if it meant a better trade deal. The important thing is to get a proper deal with china. Whether we get it the day before, december 15th the day after or a we can after much less important than getting the right deal. We have breaking news right now, the the wall street journal is reporting that the u. S. And china are talking about delaying the tariffs. The tariff deadline, of course, is sunday 15th, they are planning for a delay in those tariffs that is exactly what perdue told us yesterday, and that seem playing out and that is what is behind this complete reversal u. S. China planning to delay the tariffs, that were set to go into effect sunday 15th dagen reaction. Dagen this is a huge weight off markets investors off economy ands consumer driven economy and, again, it also indicates optimism about getting a deal done, whether it is a phase one whether it is something even bigger, but if you forgo tariffs, or delay those december 15 tariffs it just means there is progress, in negotiations, with china. Maria that is actually exactly what wilbur ross just said that maybe the president will push it forward and not put tariffs in place, and delay it as soon as he left the studio we hear this report. Completely reversing markets. Two cabinet members perdue, and ross, kind of signaling not to worry about tariffs, it is more important to get a deal. Dagen also in the president s best interest given the state of the economy, where you have the lowest Unemployment Rate in 50 years, wages for production, and manufacturing, factor woishgz growing faster than overall wage growth, nonsupervisor workers rather, and this gives him a little bit of a keeps that tailwind going. Maria yeah zam. Dagen going into election year. Back look at market highs of the morning up 46 points dow industrials former vice chairman of investments invesco, great to see you reaction to all this dow industrials up 39 points came in this morning it was down a hundred almost 200 in germany, whole global markets, this morning reversing course. I think it was simply nervousness ahead of trade deal there wasnt if there isnt a trade deal, impose significant did i recalli tariffs could be negative the fact off the table time being a big positive for market in year end december ends up being a pretty good month anyway this being involved is a very important thing, but the key thing for the Market Participants the fact 2020 is shaping uppity a really good year for three reasons, one, the Global Economy reaccelerating, again, everywhere not just u. S. But in the emerging markets and some extent in europe as well, second, the fed is on pause, we worry about the fact that the fed may not cut but most important thing with respect to the to fed theyve told us that unless inflation comes back, they are not raising rates any time soon means that they will be on as if you for a long period of time, third we are taking away issues with respect to trade conflict trade issues are not going to get resolved but the fact not going to exacerbate the issue, i think that is most important for the markets. Dagen i will just add to what you just mentioned this, but a little more detail, the dow the s p 500 and russell 2000 small expect a index ended higher in december more than any other month, so this is not only a tickle a good month it is a great month. Maria . A lot different from last december. Absolutely i think last december we needed last december to go ahead fed off the path that it will was, in for whatever reason they decided that they need to tighten policy when growth was decelerating i think did smart thing liking that off the table. You think with this news last couple days we have seen article, about private investors pulling out of equity markets people coming out of equity, fund to funds, so forth does this news change that are current state of mind . What will you see happening with vefshz. I think that couple drivers with respect to the to that, one equity markets are still at highs i think people are managing portfolios right way, you got you might want chips off the table i think there is a lot that works in addition do that i think people are allocating to international equities, u. S. Equities maybe going down but not he allocations are increasing, i think that reflects the fact that if emerging markets and to some extent european economies are going to do better is that an they have done for 2020. Look at redactdrop have nfib reported Small Business optimism was at posted largest month oefrnmonth gain since last year so it is broadbased youve got Small Business as well as, consumers doing quite well right now. I think you see the signs of the economy bottoming out the restrictively everywhere consumer part continues well we saw in jobs report manufacturing part of the economy, really the question mark, you see, clear signs things are bottoming out looking better for 2020. You are an expert in fixed in being if outlook with equities could put pressure on bonds prices steep right now how do you play fixed income. I think that is that is an important point as well, that is 10year treasury for example, probably goes up, to lets say 225, Something Like that, sometime, sometime next year, but not going to 250 not going to and because the fed has basically anchored front end of the market committing to not raise rates until inflation above 2 long rates can go up a lot the way to play fixed income by credit in environment where economies are doing better, and rates are relatively stable credit markets will do very well. What about usmca . Going to probably pass house next couple of days . We heard from both the president , as well as nancy pelosi, u. S. Trade representative Bob Lighthizer Jared Kushner send aing a signings ceremony in mexico as it today Speaker Pelosi going to hold a press conference 10 a. M. This morning on trade agreement looks like it is happening. I think that is a good thing, although the markets were expecting this agreement to be signed the real issue on the trade front was the conflict with china far more than usmca, but the fact that we dont have one more issue to deal with us probably a positive. Would you buy stocks right here. Absolutely, i think my outlook for 2020 for s p 500 probably closer to 3400, not the spectacular year but a decent year off highs that weve had over the for stocks of late. Maria so you said earlier, five more years. I said five more years november last year so i guess four more years the point is, that when you dont have significant inflation, it gives the Central Banks the flexibility to manufacture outcomes by adding policies support when the economy is weakened that is what theyve done in 2019, and the fact they wont tighten in 2020 will support the economy. Go ahead fed meeting begins today we have twoday meeting you are not expecting a rates cut tomorrow; right . I think given Unemployment Rate, the Everything Else the fact we are already seeing restrictive revival i dont think fed has to cut if they dont cut most important thing committed do not raise rates until they see inflation above 2 going to be a long stretch. What does teen you up at night anything. I think, you know, if we get the trade issue back from the table, that is may not hurt the economy that much but from a sentiment standpoint that is going to be very negative, so we need to take that table that issue off the table, for the markets to do [et. I think ted learned they spent all will this year undoing what they did last year. Exactly. Probably, big mistake they will take a pause. Yep. Good to see. I good seeing you as well. Maria coming up breaking news the wall street journal reporting u. S. China are considering delaying the december 15 tariff deadline markets completely reversed course on this news refusing to be phased by political turmoil in washington Stuart Varney weighs in on that, can when we come back. Release of ig report serious failures at fbi taking with john solomon when we come back. Stay with us. Ive got uh, ai robots, ive got vr goggles. I want your sled, please. No. [ chuckles ] timmy. Itd be a shame if this went viral. For those who never compromise. The mercedesbenz winter event. Whoa. He was pretty good this year. brakes screeching okay. So, today youre going to leave your phone with a guy named flip. ding but its more than your phone, its your business, your customer data, your sales figures. And who can forget, those happy hour selfies . Not flip. honking, gasping this isnt working. Introducing samsung Business Security solutions, with knox software. With the galaxy note10, you can remotely wipe data or lock phones, so your business is secure even when your phone isnt. Samsung business solutions. To get a proper deal with china when we get it the day before december he 15, the at a after or a week after, much less important than getting the right deal. President trump is in a very good negotiating position. That was wilbur ross telling me good trade deal better than fast one markets reversed course entirely on u. S. And china discussing a delay in the tariffs that were set to take effect about this weekend. Markets are now up, as you can see, 21 points joining us right now host of Varney Company stuart sfoourt to weigh in on this completely reversal. Seem like the markets wants to go up waiting for one rage cloud tariffs on sunday removed or taken out of the picture markets just wants to go up exactly what weve gotten first thing this morning futures down what, 110, 20. Yes. Then came news maybe we are going to get usmca deal, announcement later on today then we get news on china tariffs, the market turns around completely, starts to go up, that lets not forget backdrop here this is a very Strong Economy ive got j. P. Morgan suggesting that next year, 2020, s p 500 could go up another 8 pb market wants to go up, this is a rally maria. Maria sure is, and you know this was the one Sticking Point now weve got this from the officials saying they are considering a delay this is important stu i know you have more 10 minutes see you then, begins top of the hour 9 00 a. M. Eastern after mornings with maria weve got a few minutes, here to talk about the implications the impact of the fact that were not going to see were going to see delay i dont know a phase one detail has to include things like intellectual property and forced transfer of technology they, obviously, cant get to that decision right now so delay tariffs. We heard that from secretary ross better to have a good deal than an arbitrary target date amazing we have everything from, the impeachment, to the most robust economy this country has ever seen it is the dichotomy of those two things is just amazing. Maria i said to dagen yesterday it was extraordinary to me to watch sunday morning programs this weekend, i on sunday morning futures, talked to steve bannon about this numbers on jobs 66,000 jobs weve got a strong backdrop in the consumer nobody talked about it on sunday morning programs dagen because impeachment was taking the oxygen out of the room. Dagen that is all people who o are on those programs, who host those programs, appear on those programs for the most part, live in liberal bastions, New York Los Angeles San Francisco an choer chamber not going to talk about what benefits the working man and woman in this country might live in a state that they havent visited since childhood it doesnt matter to them doesnt matter that the Unemployment Rate is the lowest in my lifetime, doesnt matter that income inquestionabilii in he equality is shrinking wages growing faster than wealthy faster than their managers are in this environment. Consumer sentiment sevenmonth high 1 people polled by university of michigan mentioned impeached doesnt matter to them you are trying to unseat a duly elected president kick him out of office, while he has done this for the economy while republicans have done this doesnt resonate not because theme dont understand americans understand what is going on, their prospering because of policies out of washington meantime the people who wear makeup for a living microphones are talking about the evil ways of anybody a conservative. I think it is fair to say this is the best economy weve seen in our lifetime. Handsdown. Best economy i have ever seen in my lifetime that is for sure, and jack look how ending the year we are getting usmca passed, we are getting the china tariffs taken off the table for now we got the lowest unemployment in 51 years and yet walltowall coverage of impeaching this president who moved the needle on economic growth. I would say two things first of all, if you look back to clinton impeachment. I am not sure we got i think because late 90s growth gdp growth probably would have been high 3s 4s. My point impeachment would have been all over the front pages of the paper, and i think that is because impeachment is a story. You know whether it is justified is a totally different topic the point is it is happening and a big news story, two, while this is a very good economy, i peen look at any 10 year chart jobs numbers growth, whatever it is good it is not the strongest in lifetime we are at 2 growth, given the mature economy the Global Situation very good, but aint 4 , where we would have been 20 years gdp i am talking employ overall economy is best economy in my lifetime, i mean 50 year unemployment . Have i wouldnt, if you go back to 90s, i am not this is not a political statement it is not because of who is president it is because we were at a transformational change in internet but growth was much stronger, and unemployment was slightly higher but the the Participation Rate higher too. I would say this economy no pun intended trumps the impeachment discussion. I agree with you for sure. Dagen were saying you can talk about both things again marias point is that people who other people in the media want to ignore it. Maria there was definitely euphoria around dot com crazy buying stocks because of cliekz to web site opposed to this is a fundamental Strong Economy, whether that was is questionable given the fact there was a lot of hype around the dot com. The length of recovery. Bob nardelli great to see you dagen also a, see you manana the report out highly anticipated Inspector General report finding no evidence of political biance in averages russia probable fundamental errors in probably into Campaign Links to russia all eyes on john durhams probe as he investigates potential surveillance abuses against President Trumps team am i wrong at fbi cia john great to see you. Thanks for being here. It is quite a day quite a report if anything ever displayed reality gap in washington it is watching jim comey take a victory lap when the ig report lambasted their leadership the conduct of the fbi, 51 violations nine falls statements nine misleading statements 3 document statements 17 acts misconduct fbi cant take victory lap with that record in one of the most sensitive investigations in american history. I think you make a great point i have been watching your tweeted, and your breaking news, you have done an incredible job throughout all of this, helping to expose this fraud. It almost feels like what happened around the Mueller Report that, you know, democrat on advertisers want to tell facts leave crumbs to say aha, the fbi did everything right, and that is what it feels like once again, michael who are quits was obama appointee works at doj. He did, but the report is not a whitewash it is a hardhitting report a with extensive evidence going to ib take several as the to appreciate how much he explosive device. There with four independentlies controlled by fbi targeting the campaign, one fbi agent went to briefing with President Trump, with the goal of extracting information to the investigation, trump is here to get intelligence, that agency tried to burn him, that is the sort of spying that bill barr was talking about next few days going to learn what how bad this was. Maria what with else was damning to i we have horowitz testifying tomorrow, in front of senator Lindsey Grahams committee, that Senate Judiciary committee. I think most important thing to watch over the next few days is does the Justice Department got to fisa court and say based on what ig found we cant stand behind representations made withdraw applications take some form of action i think could be next step then acquiesce the durham grand jury durham report, were going to learn a lot more he beyond what ig had, purview includes going on in europe that may have led to investigation spring and summer of 2016 so that tell me when was going on with europe because i know there were a host of informants running into people like carter page George Papadopoulos, like Joseph Mifsud the person told George Papadopoulos russia has Hillary Clinton emails in homes would he go and tell trump and it would create a conspiracy. Yeah, we dont fully know might be john durham does comments indicate he knows something more than Inspector General did, but mifsuds lawyer said emphatically this isnt client was long time western intelligence asset trucked to make observerture to papadopoulos in march starts whole thing creates predicate we need to find out who told him that whos orders that itself unclear same about donner we dont know everything about his approach the australian democrat i think he will answer questions we will have a more maria what are you expecting from his committal investigation that is being led . Where is the potential for prosecution or indictment . I think one is clear right now. Theres an fbi lawyer who falsified documents too great a false portrait of carter page, hiding the fact he was assisting the cia while the fbi was investigating him. I think that is the first starting point and from there when you get a conviction or flip a purpose in like that you work up the food chain but this is yesterday was the starting gun for a long sprint and it will take several months for us to get to the bottom of these things, including who gets indicted and disciplined and who walks away unscathed. Maria you do think there will be indictments then . Based on the evidence on the report yesterday it would be almost implausible to think there is indictment for the falsification of documents. Maria what is your reaction to jim call me saying im vindicated and going on msnbc saying this is all lies by the republicans . Air must be thin in the ivory tower where hes hiding out because of eating icing in the last year about james connies leadership is an indictment of poor leadership not a strong fbi. Stronger fbi today that we were two years ago because james comey is no longer in charge. Maria x fall to tory evidence i came out and basically transcript that showed these people are innocent and did not collude with russia but did not give them to the fisa court. Unbelievable, complete violation of the due process and people are entitled to before that court. One of many, 17 different misconduct acts, the id was able to uncover. Maria john, great to see you. Thank you very much. John sullivan joining us, markets are rallying and i will get you usmc a to the floor and delaying the tears on china. I pass on to varney co. Who takes up on all of that. Stu, over to you. Stuart i know you will join me shortly. Good morning, maria, good morning everyone. This is the date the impeachment charges are laid likely to be narrowly focused on abuse of power and obstruction of congress. This is the day the pundits pick through the id reports and attorney general says, it reveals fbi misconduct. He says the report does not justify the investigation of the Trump Campaign in 2016. This is the day when there is supposed to be in agreement on a usmc a deal and speaker close he will hold a News Conference on it in one hour