Transcripts For FBC Mornings With Maria Bartiromo 20240713

And we have video of the chinese communication has been an issue, tax reform is hard to vice premier meeting with u. S. Communicate. Dagen wrote trump is his own communicator, he is the best trade representative lighthizer communicator. Right now, only video, american maria see you soon, have a great day, varney and Company Begins now. Video of the meeting. Treasure secretary Steven Mnuchin joined for dinner, this stuart history about to unfold deal pauses tariffs Going Forward but still 250 billion on varney and company. In chinese import under 25 dignitaries assembled in the tariff and another 120 billion under 7 and a half percent until white house for the formal signing of the china trade deal. It will be quite a show. The president , Vice President , cabinet, members of congress, Top White House officials will all be there and so will phase 2. He will consider releasing chinas toplevel delegation. The vice premier, the commerce tariffs as part of phase 2. So theres, nothing to do with minister and the governor of the bank of china. The election or anything else. This is a political and no secret agreements. Economic win in my opinion for the president of thenid chinese trade delegation told american businesses in series of meetings yesterday that they will follow through the agreement and protect intellectual property asking the businesses to come back. Sitting across the table from 25 members of chinese delegation members, this is what they told him. Make sure you you said how committed we are to getting this thing done and making sure that the u. S. China economic relationship is the balance that keeps the political and other parts of the relationship from going totally out. Hes willing to give china the benefit of the doubt, maria, also, china has been dropped as currency manipulator part because of section of trade deal, secretary says thats also enforceable section. Back to you. Maria all right, edward, thank you so much, sunday i spoke with Steven Mnuchin about what happens in this deal and there were questions about whether or not the English Version of the deal and whether or not the chinese translated it and weakened it during translation, Steven Mnuchin said that did not happen. It wasnt the English Version released to the public so we can understand specifically whats in the deal, 48 hours from signing, people want to see the English Version, was it changed in translation . Maria, let me first say it was not changed in translation, i dont know where that rumor started, weve been going through translation process and the language will be released this week, i think its the day of the signing will be releasing the English Version and people can see, its a very, very extensive agreement. Maria a couple of keys here, u. S. Wants china to buy 40 to 50 billiondollar in agricultural products, we will see if the chinese follow through on the promise and then enforcement mechanism, mitch, in fact, the idea that if china does not follow on its promises made than the u. S. Can snap back tariffs in place, that was the question and whether or not during translation the chinese will buy what the market demands, that means theyll buy whatever they want and when they want and has to be agreed on both sides if the snapback provisions go in place but as you just heard the treasury secretary, what you think . Component of intellectual property as well, we are looking forward to seeing the English Version of that because i dont know if i can read the chinese version of it, tariffs are important piece of equation because they are leaving existing tariffs, scaled back some of them, so tariffs seem to be the big linchpin of ten forcement mechanism, we have to see how that works. Maria yeah, dagen, Peter Navarro had an oped that tariffs have helped growth and not hurt it. Dagen the economy is growing overall slower, auto parts, appliances and furniture had risen in price about 3 in 2017 compared 1 , there was an impact of the tariffs, maybe not hardee farmers in the United States. When you set the bar low enough as you did with phase 1 deal, its easy to meet it and even jump over it, you should exports regardless of how much pick up when it comes to u. S. Farmers, onethird of farm income was from welfare, from the government, u. S. Aid payment, you start reversing that, exports plunge from 28 billion annually to at the low point 7 billion, so that was a huge hit, bankruptcy skyrocketed, this is financial and political because President Trump needs to carry these states and this part of the country if hes going to win reelection. Maria yeah, for sure, it is certainly about the economy, not a lot of conversation about the economy last night, guys, lets talk about the democratic debate, the candidates taking on President Trump and each other on that debate, watch. Incomprehensible that i would think that a woman could not be president of the United States. Look at the men in the United States, collectively they have lost 10 collections, the only people on this stage who have won every single election that theyve been are the women, amy and me. [cheers and applause] this deal and i think the proponents of it acknowledge will result in the continuation of the loss of hundreds of thousands of goodpaying jobs as a result of outsourcing. We have farmers here in iowa who are hurting and they are hurting because of Donald Trumps initiated trade wars, this new trade deal is a modest improvement. Theyll be no trade agreements signed in my administration without environmental at the table and no trade agreement until we invest more in American Workers. Give gutting the Iran Nuclear Deal they have made the region more dangerous and set off the chain of events that we are now dealing with as it escalates even to brink of out war. Its time to take corruption and greed of Drug Companies and finally provide health care through all for medicare for all single payer program. We have a broken program. How do we actually break the corporate strangle hold to get any of these things passed maria what stood out to you at the debate last night, dagen . Dagen snub, Elizabeth Warren refused to shake Bernie Sanders hands despite moderator, she asked senator sanders, i want to be clear youre saying that you never told senator warren that a woman could not win the election, thats correct. The moderate e turn today ask, senator, what do you think when senator sanders told you that you could not win the election, he tennesseeed denied the denial. Maria ignored it. Dagen theres room for someone else to swoop in. Whether its andrew yang, he got endorsed by dave chapel for comedian, one of the biggest super stars in the United States, whether its a bloomberg to swoop in because this felt like to me, you invite me to your house for Cocktail Party and you serve me Room Temperature tap water and unsalted rice cake, it was so bland, i didnt see anybody that could take on President Trump. Maria shes at 6 . No question. There was not mention of the economy, attacks on trumps policies that could be impacting the economy, there was no conversation about what any of the candidates would do to propel the economy forward and extend the expansion and i think that thats something that voters want to hear about. Maria yeah, i think dagen is spot on when she says it showed you that there was an opportunity for somebody to swoop in, i agree with that Michael Bloomberg was on his website coming out with comments to just try to get noticed during the whole thing, he wanted to be there. Lets talk impeachment, that came up last night, the house had a vote to send articles to the senate today at rally last night in wisconsin President Trump talked about that slamming the effort. The impeachment hoax, its a total hoax, they want to impeach, impeach the president of the United States over a perfect phone call, its the greatest hoax ever perpetrated on our country. You know, nancy pelosi says it must be nonpartisan, it must, it has to be clearcut, number 1, never happened, no problem, number 2, look at the vote, 3 democrats voted with us, so i guess you could say it was a nonpartisan vote because they voted with us. Maria so where is this going . Do they ultimately call witnesses or will the senate file a motion to dismiss the whole thing, dagen, what did you think . Dagen you want to see acquittal and not dismissal with this if youre a republican, number 1, number 2, if they are trying to force Mick Mulvaney to be called, john bolton to be called, you never know what a witness is going to say, the democrats ought to be very careful and its going on the a tit for tat, if the democrats want john bolton, the democrats are going to demand one or two bidens. Maria thats true, mitch, thats exactly what ted cruz said, you really wanted not a dismissal because you dont know what happens next in terms of the witnesses, look, they want to hear from the whistleblower, the republicans do, will it go that far . I think hes going to do a lot better as you look American Public and electorate and say i was acquitted not with a question as to whether or not he would have been convicted or not, i think that acquittal maria yeah, lets slip in a short break, when we come back wicked Winter Weather on the way, dangerous conditions causing 30car pileup, wait till you see this, another chance to get your baby yoda and you can make it yourself. Busy show this morning, back in a minute. Maria welcome back stunning new video showing second missile hitting down ukraine passenger plane in iran, cheryl with headlines this morning, cheryl, good morning to you. Cheryl good morning, new video from Security Camera showing two missiles hitting the plane, the person posted on youtube has been arrested, two missiles fired 30 seconds apart, iranian officials initially denied any responsibility. President trump lasting apple over refusal to unlock phones used by violent criminals n a tweet yesterday the president said apple needs to step up and help the government, comments coming after the tech giant rejected request to unlock two iphones belonging to pensacola, Florida Naval shooter, apple cited customer privacy for its decision, finally season may be over but baby yoda madness is here to stay, waiting for months , baby yoda figure, baby yoda is cute, not as cute as dusty, back to you. Maria cheryl, thank you. Quick break and then coming up a jet dumps on the ground hitting children and we will tell you about that coming up and then children doused with the jet fuel, everyone is okay. Standoff is over, amazon is back to using fedex, whats behind the change of heart . When we come right back, stay with us. [cymbals clanging] [knocking] room for seven. And much, much more. The firstever glb. Apps except work. Rywhere. Why is that . 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Only for a limited time maria welcome back, we are looking at ipos largest valuations above 1 billion performed the best, joining me right now nova partner and president antjuan, you have investing in this area, tell me where you see the growth in health care today. Theres a lot of opportunities in many sectors, i think 2020 could be the year of new science, discoveries, scientific discoveries and a few products that are coming up for approval, biogen products in particular. Maria tell me about, we are learning more about the brain, alzheimers, autism, als. Would be the first drug ever, modifying drug for alzheimers. Not an easy ride because its a difficult problem, you know, they actually lost 20 billion last and gained 20 billion when they were fighting with fda, if it gets approved, a lot more interest, not just maria that could be tremendous, theres no cure for alzheimers, when do you get in the companies when they are turning a profit or we are at early stage. Early stage when those companies have an idea and then trying to develop, by the way, we invested 9078 at the very beginning, it takes a long time, you know, to make drugs, thats what we do. Its where the values when you see the potential for a product. Maria youre looking across the world, are there opportunities in your view in the u. S. More so than in europe . What Europe Clearly has is value, a lot of the developments were done in the u. S. Over the last 2 years, but europe is catching up, because we are based in paris, out of europe, we invest, you know, a large part of the investment, so i think this is a global industry, you need to think about it in a global manner. Maria interesting last year when we came to this conference there was so much activity, right, as soon as we arrived Bristol Meyers did the deal, acquisition, what are you expecting in terms of deal activity in health care . Well, i mean, as you know the conference is first signal of the year whats going to happen. 74 billion, people got, you know, unexcited because of lack, 19 was exceptional, 450 billiondollar deals, there was research on ey saying there was a trillion dollar power in healthcare industry, if it doesnt happen on the first days of january, it may still happen. Maria we are on day 3 of the conference, what did you learn in terms of the seems, you have ceos, investors, managing directors, can you give us highlights of the week . A lot of investors and Pharma Companies as well which we feel, you know, the interest from pharma to innovate is huge, this is the price clearly in peoples mind and so thats why people come here, both investors and and from the Pharma Companies, products where we can justify something happening for the patients but also good value for the system. Maria sure, thats why youre here, good to get your insights. Coming up, wicked Winter Weather, dangerous conditions causing a 30car pileup and a micro burst ripping open a school jim, watch the picture, unbelievable. James bond skipping the martinis i think you have my past maria actor Daniel Craigs new heineken ad pays tribute to 007 and, becomes the new bond girl, we will tell you all about it right after this break. Whoa, this is awful, try it. Oh no, that looks gross what is that . You gotta try it, its terrible. I dont wanna tray it if its terrible. Its like mango chutney and burnt hair. No thank you, i have a very sensitive palate. Just try it hey guys, i think we should hurry up. If you taste something bad, you want someone else to try it. Its what you do. I cant get it out of my mouth if you want to save fifteen percent or more on car insurance, you switch to geico. Its what you do. Dog, dog, dog. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Im but how do i know if, im getting a good deal . Truecar knows exactly how much people have been paying for the car i want. I tell truecar my zip and what car im into, and it shows me the truecar curve. This shows the range of prices people in my area actually paid for the same car. Looks like these folks paid a little more than everyone else. And this guy got the deal of a lifetime. This is how car buying was always meant to be. This is truecar. narrator before you buy a car, see what others paid for it with truecar. Maria where can back, emergency on the ground turning emergency, Cheryl Casone with the headlines. Cheryl emergency return today los angeles international, the midst of fuel, fell on 3 schools causing minor skin and lung irritation to more than 3 dozen children and adults, well, tenter storm being blamed for Chain Reaction crash, 30 cars during rush hour involved Severe Weather hit the region several feet in some areas of Northwest Region throughout the week, and shocking video to show you this morning, Security Cameras capturing micro burst destroying school gymnasium, this is in north carolina, the school remaining closed tuesday expected to reopen tomorrow, wow. And then Online Retail giant amazon lifting ban on fedex ground, the move after a company blocked fedex u. S. Ground during holiday citing security issues. Then theres this, daniel craig repairs for fifth james bond film. I think you my passport. Nice try, mr. Bond. Cheryl there he is with a sense of humor, early twominute ad features actor as himself, relaxing as he goes on wild adventure, as you know this is craigs final appearance as the bond character. Speaking of 007 singer will perform title track to no time to die, 18yearold has written the song and says its honor to be part of it, also the youngest artist to write and record a theme song for the franchise, maria. Those are your headlines out of new york. Maria wow, good for her, cheryl, thank you. Cheryl you bet. Cheryl phil murphy on controversial millionaires tax as residents continue to move to lowertaxed states, i spoke with jamie dimon in exclusive interview, watch. Theres been exodus in hightaxed states into lowtaxed states, phil murphy to push for the millionaires tax, how do you feel about that . Im not worried about the tax so much, what you have is bad policy hurting the people that they profess, in california the population went down for the First Time Ever, okay, same, new york is now down, connecticut is going down, i think new jersey are going down, they are doing things that hurt the people and so, yeah, you may get billionaires, stuff like that, you want jobs, you want production, you want infrastructure, so people should spend more time good policy to lift up society and people who will solve the problem. Maria its become must read, can you give us a sneak peek . Im doing outline as we speak. Im frustrateed. I think i said before, our slow growth of 20 , people should ask this question, we grew at 20 in the last 10 years or so, it should have been 40. The recoveries have major down turn of 40 , 2 or 3 trillion of additional gdp, who does that hurt . Its not trade, its not china, we dont have proper immigration policies, we dont have proper infrastructure policies. A lot of study that is show that, litigation system, 1 more than anybody else, our has become costly, capricious and arbitrarily, they are holding us back. My views if we fix the policies we would be going faster, Interest Rates, inflation, wages, et cetera. Maria they cant get anything done, democrats are fighting republicans and the republicans are fighting the democrats, whats the answer to get them to agree on things to get policies done . I dont know. Maria harp hes good. Hes good about what happens structurally, this got worse and worse, you have a whole bunch of ideas and prescriptions for it. Its not just gerrymandering, open primaries, first choice, second choice, third choice, other ways to get more to the middle, politicians should talk to each other, the president of the United States should have opposition every week, what can we do, where can we find common ground. Why cant we get basic stuff going . Infrastructure bills that maybe we can pass, a lot of us want Immigration Reform and people on both sides would like immigration, we cant get it done. Maria why is that a priority . Theres a morality around it but daca should stay, we have 300,000 kids a year who come to get educated from overseas and make them go home, we need more meritbased, those folks should get green cards, i heard the president say he believes in that. We should have some kind of path to citizenship for the 12 million undocumented who are law abiding and taxpaying, et cetera, we should have proper border security, no one is saying we should have improper border security, we went from 3 million to 12 undocumented in the last 30 years, that package deal should be done, if we did that we would have more workers, by the way. Why do we seem unable to do it . Maria any chance to run for president . No. Maria why not . I have no interest. Complicated. Maria dow 29,000, the markets are on incredible run, hundreds of new records of the s p last year, is this sustainable, im not trying to treat you as market timer . I hate forecasting. If you look at the valuation of the market on almost any measure its in the top 15 of all time other than one. If the economy continues to grow it will justify and so the market will react and it fluctuates. Maria what about the chart i showed you earlier. Borrowing, what about that corporate borrowing is down, is that an indicater . Sometimes thats a result of slow economy, companies have less receivables to finance, they do less plant and equipment, faster economy, need for capital will go up and borrowing will go up. Looks like that. We have a slowdown, borrowing went down a little bit and we stabilize. Maria youre not worried about that . No. Maria are you going to buy your stock at any level . It kept going into record territory. We have been buying back a lot of stock, we continue to do that, at one point, we should do less, i would rather invest the money, the highest use for capital is to grow our business and we are doing that, we have more Small Business clients, more credit card clients, i want to grow, in the meantime a lot of excess cash and we are buying back stock and provides values. Maria how is Asset Management doing, commissions to zero, you said earlier jpm did it first going free on digital, has that changed asset manager for you given the fact that it has taken back money Asset Management is competitive my whole life and margins are coming down, people complain about that, i call it capitalism, you have to find a better way, faster, quicker, cheaper. Basically a good way to get cost of money, its part of the return, we have a huge money Asset Management and you will have to get faster and better and quicker and give the client more, it could be research, it could be ai to give them ideas, bundling packages but we will come and we have announced that we have a new highnet worth segment that focuses on high net worth. Maria you look at the markets and theres situations that dont make sense, look at tesla, its worth more than gm and ford combine, does that make sense to you . Look, ive not studied any of the companies. So the people who built tesla, its an exceptional car, a lot of competition, also from mercedes, et cetera, we will see. Maria be sure to catch more of my exclusive interview with Jpmorgan Jamie dimon in the next hour when we zero in on china, the company just recently got its license to operate whollyowned bank in china, we will talk about, earning season is rolling on this the bank, we saw blackrock, bank of america to report momentarily as soon as they hit the tape, countdown to iowa caucus, democrats taking the debate stage last night in hawkeye state, tense moment between Elizabeth Warren and Bernie Sanders going viral this morning, you dont want to miss it, back in a minute. Woman my reputation was trashed online. I felt completely helpless. 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 breaking news on retail, shares of target under pressure after reporting miss on holiday sales, stock is down better than 9 , retailer says holiday comparable sales grow, weak sales on toys and electronics. Target is still backing its fourthquarter profit view, however, obviously markets are not liking that miss. Mean while we are looking to countdown to iowa, it is on, democratic president ial candidate holding last debate ahead, last night, Bernie Sanders denying claims from Elizabeth Warren that he told her in 2018 that a woman could not become president , warren followed up on stage last night, watch. Senator, warren, what did you think when senator sanders told you that a woman cannot win the election . I disagreed. The question about whether or not a woman can be president has been raised and its time for us to atake into account head on and the best way to talk about it is looking at winning record, can a woman beat donald trump, look at the men on this stage, collectively they have lost 10 elections, the only people on this stage who have won every single election that theyve been are the women, amy and me. [cheers and applause] maria joining me right now Debbi Dingell, congressman, great to see you. Great to see you, happy new, we are in it. Maria that was pretty Quick Response from Elizabeth Warren there. It was and my style is not to take the shots, we are at the point in the Democratic Party that we need to not take shots at each other, we need to start defining what the differences are in the way that when this race is over we are together. In our party we are looking for a day that when this season is over we have a nominee, people are going to come together and unnecessary shots dont necessarily help people. Maria what do you think about the fact that so many of those people on stage, the senators are going to be in impeachment trial, theyve got as we say jury, House Speaker nancy pelosi plans to hold vote today, Senate Majority leader Mitch Mcconnell said trial could start as early as tuesday, first question is what about senator warren, senator sanders, they are going to be and senator klobuchar, they will be up in the senate trial and unable to go to iowa and do the same as joe biden will do, is that going to be a big setback . If i think they do it correctly it can be a net, Amy Klobuchar said in debate, my husband will be there, my daughter will be there, all of them have family and friends that can be out there, their job is to do their job and when you are running for president as a senator or as a member of the house, theyre back doing their jobs, their job is to do their job and this most serious times in nations history, people will be watching them and what they do in the senate and they have staffs and teams that will be working the early states at the same time. Maria we want to get over to Dierdre Bolton, bank of america is out, beat in terms of earnings, Dierdre Bolton has more on that. That is exactly, right, we will take you through the numbers, the company posting earnings of 74 cents a share, 68 cents per share, thats a beat on the bottom line, if you look at revenue, i will call this in line essentially while she was looking for 22. 35 billion for the quarter, bank of america posting 22. 30 billion, so optimistic look, you just say in line if you want to be pessimistic and you can say ever so slight beat, im still going through the numbers, maria, what im looking for net interest margin, basically what that means in low Interest Rate environment, we saw the blowout quarter blowout from Jpmorgan Chase yesterday and big part of their vent was exactly on lending so people like us, Consumer Lending strong, fixed mcas well, same kind of results for citi, all of the financials we have to find out so far performing very well in the lowInterest Rate environment, Goldman Sachs will come in later this morning as well for the moment i will throw it back to you, maria, when i see Business Units and business sectors, i will come back to you. Maria also Check Technology spending as well and how the expense side of the business looks, one of the reasons that jpmorgan is able to force mergers for the regionals and put other banks out of business is because they spent so much money on technology and you wonder, i think wells fargo is really at a disadvantage relatively speaking because they have money in tech, we will come back to you as you get more headlines, dierdre, im talking with congressman Debbi Dingell this morning, you saw the earnings from bank of america, we have been reporting a number of earnings in the Fourth Quarter, Banking Sector in the last 2 days, it looks by large that things went well, the consumer is strong and the economy is well, youre not hearing conversation about the economy in the debate stage last night, why . I dont know, the questions, the moderators didnt really ask, candidates didnt try to work it into the answers that they were giving. I believe the economy is going to be good through this election or peoples perception will be good through the election, you know, youre beginning to see, all politics are local and in my state you are seeing softening on the sales of automobiles, sales are down a billion, i want it to do well, we all want the economy to do well. Maria of course, thats why you voted for usmca, congressman, good to see you this morning, thank you. Debbi dingell joining us, we will be right back. We are edward jones. With one Financial Advisor per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. whistling oh no, here comes gthe neighbor probably to brag about how amazing his Xfinity Customer Service is. Im mike, im so busy. Good thing xfinity has twohour appointment windows. They have night and weekend appointments too. Hes here. Bill . Karolyn . Nope no, just a couple of rocks. Download the my account app to manage your appointments making todays Xfinity Customer Service simple, easy, awesome. Ill pass. Its our most dangerous addiction. So we took our worst vice, and turned it into the dna for a better system. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Maria welcome back, bank of america earnings hitting tape, 22. 3 billion, slight miss on bank of America Revenue as we told you earlier, the earnings were above expectation, the revenue is slightly lower than estimates, joining us right Capital Advisers senior portfolio adviser, good to see you this morning, thank you so much for being here. Always a pleasure. Maria characterize what youve heard from the banks so far, are there themes that you can pull out from what youre hearing so far, i know that you like bank of america in the past, do you still like it, whats the reaction to this mornings numbers . So far what we have seen from the group, from bank of america, the industry, the consumer is very strong, you know, i think the earnings for the banking groups so far have been, you know, more down the middle of the fairway, jpmorgan had really good number, citigroup guided up, lets see whats in some of the conversation about future guidance for bank of america, theres no doubt about it that they are executing and, you know, this company is has turned around a great deal, we want to see expense as well. The economy is better, compensation is going to be higher for everybody, but revenues are higher, thats just fine, i think thats what you want, you dont want people cutting costs in better environment, you want them spending money. Maria they are all trying to invest a lot in technology, certainly jpmorgan led the chase there and bank of america as well, thats going to be a big part of the expenses, right . Exactly. I think thats a real question on wells fargos spending into the future because it had been so focused on trying to get and they need to spend money on their systems and on their online, they were very early, one of the best Online Platforms out there and everybody has caught up. Maria yeah. In my interview with jamie dimon, theyve been moving into all of the cities across the country in particular in the midwest as a result, you saw bb t and suntrust mortgage, jpm continues to move throughout the country, we see more bank mergers, today there are 6,000 banks, we will see more in the next 10 years. Scale does matter, theres a lot of people that can go out and get open architecture but the big banks really want to, you know, compete with each other. Maria so you still want to buy the regionals . Yes, m a will be hot as people will be afraid in a Democratic Administration everything your trip needs, for everyone you love. Expedia. For everyone you love. Th. To introducing products faster. To managing website inventory. And network bandwidth. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com im but how do i know if, im getting a good deal . Truecar knows exactly how much people have been paying for the car i want. I tell truecar my zip and what car im into, and it shows me the truecar curve. This shows the range of prices people in my area actually paid for the same car. Looks like these folks paid a little more than everyone else. And this guy got the deal of a lifetime. This is how car buying was always meant to be. This is truecar. narrator before you buy a car, see what others paid for it with truecar. Maria welcome back. Good wednesday morning, everybody. Thanks so much for joining us. Im maria bartiromo. Im coming to you live this morning from the jp morgan Healthcare Conference in san francisco. The most well attended Investor Conference of them all, attracting 10,000 people, investors, ceos, industry leaders. Good wednesday morning. It is wednesday, january 15th. Your top stories right now, 7 0. Making it official, the big story this morning, President Trump is set to sign phase one of the u. S. China trade deal this morning. What you need to know and what it means for you coming up. Earnings in focus this morning on wall street, bank of america reporting better than expected Fourth Quarter earnings, the stock edging higher this morning. This is the high of the morning right here, up three quarters of a percent on b of a this morning. Target also a stock to watch, the retailer coming up pressure in a big way after reporting disappointing holiday sales. Take a look, stock is down better than 6 . Broader markets are also showing weakness this morning. The take a look at futures, edging lower, with the dow futures right now down 18, nasdaq futures lower by 3, s p futures lower by 1 and a quarter. They this on top of markets mixed yesterday on wall street. At the close you saw a mixed performance with the dow industrials up 32 points, nasdaq lower by 22, and the s p down about 5 points. In europe this morning, mixed performances, take a look at the european indices right now where the fq100 in london is up 13 points, the cac in paris is down 5 and dax index in germany is lower by 2 andahalf. In asia overnight, declines across the board. Take a look. The worst performer overnight in asia was the shanghai composite, down about half a percent. Pretty much fractional moves across the board. All those stories coming up this wednesday morning. Joining me to break it down, fox business Dagen Mcdowell and pwc partner Mitch Roschelle. Good morning, guys. Whats on your mind . Good to see you. Theres a little bit of a delay. The china story is obviously a big issue for the markets this morning and then weve got the top story, the democratic debate last night. Ive got to get your take on that debate. Six president ial hopefuls taking the stage last night in iowa for the final debate before the iowa caucuses. The mood on stage, tense. Hillary vaughn has the latest. Good morning, hillary. Reporter good morning. Sense r tore elizabet senatord Bernie Sanders took the debate stage with their friendship on the rocks. Warren refused to shake Bernie Sanders hand after the debate was over. Instead, they had a Tense Exchange before leaving for the night. This happened after warren dished details about a december dinner between the two, where warren says sanders told her a woman could not win trump in 2020 but sanders said he never said that and later on in the debate, the two senators got into another disagreement. The only person on this stage who has beaten an incumbent an e republican any time in the past 30 years is me. Just to set the record straight, i defeated an incumbent republican. When . 1990. And i said, i was the only one who has beaten an incumbent republican in 30 years. Well, 30 years ago is 1990, as a matter of fact. Reporter candidates on stage were split in their support of the usmca trade deal that it provides relief to iowa farmers and workers but Bernie Sanders and to tom steyer said they didt support the deal because it didnt do enough for the climate. This new trade deal is a modest improvement. Senator sanders himself has said so. Every major Environmental Organization has said no to this new trade agreement because it does not even have the phrase Climate Change in it. I dont know that theres any trade agreement that the senator would ever think made any sense. Joe and i have a fundamental disagreement here. In case you havent noticed. We know how donald trump is going to run for president. Hes going to run on the economy. Youre all going to vote for me because the democrats are going to destroy the economy in 15 minutes. I can hardly wait to have that debate with him. The neighbors i come from, theyre in real trouble. Reporter maria, democrats want to take on trump on the economy. Theyll have to convince voters of that first because a new poll out this week says 57 of voters actually like the way the president is handling the economy. Maria. Maria all right, hillary, thank you. Hillary vaughn in demoney. Joining us des moines. Joining us now, robert wolf. Robert, its great to see you this morning. Thanks for weighing in. Thank you, maria, the hardest working person on tv, no question about that. Maria [ laughter ] maria well, listen, what is your reaction to that debate last night and why is it that we never hear anything from the democrats on the economy . I moon, it didnt really l come up too much last night except for tom steyer saying that the president s going to run on the economy. It almost feels like, robert, they dont want to touch it because the economy is doing so well. A lot to unpack there. I would say, one, we were expecting big fireworks because its the last debate before iowa and we got very little fireworks. The only fireworks, as hillary mentioned, was one exchange between warren and sanders where it was really on woman electability and that was her mic drop moment. After that, when they didnt shake hands. Away from that, the debate was mainly about foreign policy. I actually think it played to joe bidens strength. I think it played to in my opinion Bernie Sanders weakness. To just say youre against every war and you know im not hawkish is not actually a policy for a commander in chief and i think joe talked a lot about being with his allies. With respect to usmca, maria, im supportive of usmca. I think it actually has moved the needle on both the environmental and labor issues. Its good for the industries of auto and pharmaceutical and farmers. Im glad most of the candidates on stage. With respect to the economy, i agree, theyre going to have to go right at President Trump at where his strength has been, the economy. I think they didnt do that of last night. Also last night, the middle east and iran, that a was the oversha he dough theme overshadow theme over everything. Last night wasnt about the economy. Mayor pete, i think he looked smart up there. I dont think he had any real moment. You mentioned klobuchar and steyer, they probably had their best debate but its not going anywhere. Maria i think you made a good point. We really needed to see something to see a breakout. We didnt see that. The overriding conversation was Bernie Sanders denying claims by Elizabeth Warren that he told her in 2018 that a woman could not be president. Warren following up on stage. What was your reaction to this . Lets take a look and then ive got to get your reaction. Watch. I think the best way to talk about who can win is by looking at peoples winning record. So can a woman beat donald trump . Look at the men on this stage. Collectively, they have lost 10 elections. The only people on this stage who have won every single election that theyve been in are the women. Amy and me. Maria. You know, i thought it maria she was quick with that robert. I liked it, because warren had to go after bernie because theyre fighting for the same vote. I actually did think as i said on twitter, it was her mic drop moment because she actually more or less called bernie out as a liar on their private conversation. So they definitely have a riff going. The truth is, this is competitive primary and there should be riffs and they should go at each other and last night, i mean, this should have been a huge disagreement between who voted for the war in 02, who voted against the war, who wanted troops out, who wanted troops in, where we are in the middle east and they let a lot of them let each other skate. I think theyre going to have to really sharpen their tools if any of them are going to be on stage versus the president. Dagen van jones said last night maria what happened to cnn. Go ahead. Dagen van jones said there was nothing i saw tonight that would be able to take donald trump out, robert. Thats what he said. And again, tom steyer, ive had to work for years on not looking like im angry and he hasnt worked on not looking creepy. [ laughter ] dagen the focus was on him because where is andrew yang . Where is cory booker who dropped out of the race . Maria how about Michael Bloomberg. Dagen there was energy missing there, robert wolf. Listen, if i was running the Democratic Party, which im glad im not, i would make sure debates are dynamic. I think we should have changed things up, we should have had a Michael Bloomberg on the stage. I know they set a policy a year ago what the debate terms were but when you run a company, when you run the Democratic Party, you should be able to change for where the dynamics are of the party. I think mayor bloomberg should have been on stage. I think the idea he was a shadow tweeting didnt do anything for him. I thought it was below where he was. Dagen it was the dnc in fr of hillary clinton, now where is it stacked against. I think a lot of people are asking that. Maria thats what Kevin Mccarthy said on sunday. He said nancy pelosi is basically obstructing and colluding and basically getting all of the decks cleared for joe biden by keeping all those senators in that impeachment trial. Maria, you know i love you. When the Democratic Party is listening to Kevin Mccarthy we should actually change our party. But i do think that last night the one thing i liked is we didnt focus on impeachment. I know that all the other tv shows away were hoping that they would throwing darts at trump nonstop. Im glad they didnt. They have to talk about where they stand, what they would do as president. I thought there was a good debate on healthcare. As you know, i think thats going to be a major discussion over the president ial election. It was a major discussion in the midterms. It was a major discussion why we won the governorships in both louisiana and kentucky. I think actually the president s been incredibly wrong on where he is with the Affordable Care act and i think thats a winning topic for the Democratic Party and i think that they showed a real strength last night on. Dagen im waiting for somebody to say to Elizabeth Warren if you are so smart and so confident and so strong, as a woman, why did you lie about your ethnicity to benefit in your career as a lawyer for literally a couple of decades. Why did you lie about sending your kid to a public school. Why did you lie about losing your job for being pregnant. If i was Bernie Sanders, well, i might have said something about that but he took the high road last night, despite her at at the end. I think last night maria he did take the high road, youre right. Last night we didnt have the fireworks we expected. I kept arguing we shouldnt have a circular firing squad to kind of quote my friend president obama, that being said last night we should have had a bit of a circular firing squad, people should have gone at each other and shown their differences. With respect to Elizabeth Warren, i think i know another person who is in the white house, we can count the number of times he may not have been the most honest but thats for the general dagen when you preach morality and thats what the left is doing, a lot of people in the Democratic Party focus on morality and how theyre different than the man who won the white house. But you know what . Are they really that different when you told lie after lie. Heres what i will say to that, dagen. You know, im not one for this pureity litmus test. Im not in the poplace left lane. Ive given to 14 candidates. I have not given to Bernie Sanders and Elizabeth Warren. If they are the candidate, i will fully support them. I think right now it showed last night whether its on usmca or healthcare or our foreign policy, that the democrats really, truly are still in the middle. Even though all the twitter and social media goes into the left, the silent majority is the moderate lane. Thats how we took back the house. Thats how were winning governorships. I think the jury is still out. Last night if someone was asking me to rate it, i wouldnt even give it a rating because it wasnt a debate. There wasnt a really debate. There was one time when people went at each other. If i was on stage maria weve got to jump, but can Michael Bloomberg have a fair shot as hes really just getting into the mix on super tuesday . I mean, hes missing all of this. So you gave me a layup here. I can go back to where i am in financial markets, never short Michael Bloomberg. Okay. Maria okay. When someone has a billion dollars to go and theres 34 of the delegates of on super tuesday, we know hes going to be disruptive. Remember his strategy, maria, quickly. The first four primaries where all of these candidates are spending 95 of their time are 4 of the delegates. Super tuesday, 13 states, 34 of the delegates. There is one person that can put a billion dollars into it. Im not sure hell be the nominee. I dont think so. But to say he wont impact it,ic were kidding ourselves. Maria hes going to impact it and he hes going to keep them honest in terms of where the Democratic Party is, like you said, in that a middle lane, yeah. You and i will be at the democrat convention. The chance of a brokered convention is probably at least 15 to 20 now. Dagen h whoa. Maria i look forward to that. I know you do. [ laughter ] maria its going to be fun. Robert, thank you. Great to see you. You too. Maria robert wolf joining us there. Stay with us. Well be right back. Need with Liberty Mutual. Only pay for what you need with Liberty Mutual. Con Liberty Mutual solo pagas lo que necesitas. Only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. More fallout for boeing to report. It stems from the grounding of the 737 max. Cheryl casone on headlines now. Tough year for boeing. Cheryl really is. Boeing says orders for new planes fell to their lowest level in more than a decade last year with more cancellations than sales. The company reeling from two deadly 737 max crashes. American Airlines Says its not going to be flying the max until maybe early june 2020. Former National Security advisor Michael Flynn looking to withdraw his guilty plea. The motion was filed yesterday citing bad faith by the government, following last weeks decision reeling that flynn only serve six months in prison. He pled guilty in 2017 to lying to the fbi during the russia investigation. Flynn expected to be sentenced oven january 28th. Bail reforms in new york city enabling a serial bank robber to strike again. Jared woodberry was arrested last week in connection with Bank Robberies in manhattan. He was released under the new legislation. Hes now wanted for a robbery that police say happened just yesterday. And finally, who is the greatest jeopardy player of all time . Did he come up with y yagu . He did not. It doesnt matter. Your wager, 44,000. Ken jennings you are the champion cheryl yep, ken jennings who last night became the goat, greatest player of all time by the way. The ti title goes to him of aftr he beat the former champs. He walked away with a Million Dollars and its a title of the goat, which is a good thing. Back to you. Maria yeah. Very cool. Thank you, cheryl. Coming up, Bank Earnings in high gear this morning. We heard from bank of america. Weve got the latest numbers and their 2020 impact coming up next. Then this, trusting something more than tom hanks, the brands america holds in higher esteem than one of americas best loved actors. Stay with us. Baby, dont move. 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 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. Some people say thats ridiculous. 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. Maria welcome back. Markets under some selling pressure this morning, fractional move. Lets check futures, weve got dow futures down 21, nasdaq just went positive, it is up 1 point, s p futures down about a point right now. The markets expected to react to the phase one china deal today and Bank Earnings hitting the tapes as well. GoGoldman Sachs earnings due out any moment. The stock of b of a right now has turned negative. We told you earlier that the revenue was a miss but the earnings were better than expected. Goldman sachs is down 1 and a quarter percent. As soon as the numbers hit the tape, we will bring them to you. Joining us now is Jmp Securities president mark leeman, pleasure to see you. Thank you for joining us. You are big in healthcare in terms of taking companies public, invest pment banking, as well as investing. Tell us about the conference and why biotechs were so hot in the Fourth Quarter. What did the biotech index do at the end of last year. The Life Sciences index that we track was up 4x the overall dow in the Fourth Quarter and double the nasdaq which is an enormous outperformance. Those index as you know did extremely well, Life Sciences indexes were up low 20s to mid20s in the Fourth Quarter alone. Maria some of the companies are not profitable, right. Theyre still burning cash. How come theres so much optimism around Life Sciences right now. Youve had a spac spate of innovation. A lot of companies have gotten a approvals for the fdas. The news has been good. Were going to he see more of those in 2020. Maria were looking at the biotech index. Its a real breakout in the Fourth Quarter. You think that continues in 2020 . I do. I think what youre seeing is more and more of these companies have much more positive news from the fda and their shots on goal are better. Theyre better theyre innovating more, they have Better Technology and optimism that they have and the markets theyre serving are that much bigger. Maria how do you choose what companies you want to get behind . How do you identify where the growth is in these stocks . Jmp focused on four disease areas, we focus a lot on cancer, we focus a lot on cns, Central Nervous system diseases, we focus on rare disease, thats where the big innovation is and where the lives are going to be saved. We look for private companies. Were not going to get involved in big global pharma. Were going to find emerging Growth Companies that are going to be innovative. Just to give you a sense, we talked about the cns, the Central Nervous system, theres alzheimers and ms and parkinsons, a company we track out of boston called axio biotherapeutics, theyre focused on the gut. A lot of people think it starts in the brain. They think it starts in the gut. If you have a kid thats autistic, theres nothing you can do, parkinsons, very little you can do. They have a novel treatment that starts in the gut, tolerated really well and doesnt t get in the way like some things that have not worked so far. Were tracking little companies. We find little companies that can become big companies. Maria we were talking with another guest earlier in the show about biogen that is hoping to get aa proofl of an a as approval of an alzheimers drug. That stock moved in the Fourth Quarter. Perfect example where alzheimers is a disease area where people had a lot of innovation that hasnt worked. Companies like bioagain are finding things that may work. The optimism is outweighing the pessimism. Maria i hope we see the right medicine that cures there. Thank you for joining us. Stay with us. Well be right back. Maria this week on mornings with maria, tomorrow, increasing iranian saber rattling, bringing the u. S. To the brink of war, senator James Langford on the path forward. Friday it is time to ask maria, im answering the questions that matter to you, thats all right here on mornings with maria. And etfs are commissionfree. 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 while our competition continues to talk. When i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Maria welcome back. Good wednesday morning, everybody of. Thanks so much for joining us. Im maria bartiromo. It is wednesday, january 15th. Now a look at markets, 7 30 a. M. On the east coast, mixed performance on wall street. Futures, get a sense of how the market will open this morning, we have seen a sharp tick lower as we get Goldman Sachs missing earnings estimates on the tape right now. Dow industrials down 55 points, goldman of course is a dow component. This is the issue. Nasdaq right now down 4 points and s p futures down 3. Goldman sachs beating earnings on revenue but a miss on earnings. Were going to check the stock and tell you what its doing right now and what is behind this 55 point move in the dow because this just happened in the last 10 minutes. We are waiting on the signing of the phase one trade deal with china this morning. Thats going to be a formal big event at the white house this morning. Plus, more earnings rolling in after bank of america reported better than expected results, Goldman Sachs as i just said missing earnings expectations at 4. 69 a share versus an estimate of 5. 47 a share. So i suspect this is one of the issues for the dow but lets check Goldman Sachs shares right now, only down a fraction. Perhaps there is another issue for the dow. Were going to check why the market is accelerating the losses this morning. They were mixed on wall street yesterday, take a look at the close, we saw dow industrials up 32 points at 4 00 on wall street yesterday, the nasdaq down 22, s p down 5 points. In europe this morning, mixed performance as well. Take a look, the fq100 is higher by about 10 points but the cac in paris is down 9 and dax index in germany is lower by 20. In asia overnight declines across the board, take a look at the asian markets which were fractionally moved but nonetheless negative. The nsa finding critical vulnerability in the worlds most popular operating system. Cheryl on headlines now. Cheryl thats right, the National Security agency alerting microsoft engineers of a vulnerability that could enable cyber hacks, microsoft saying is hat no, si has not sed so far but they released a patch to fix the issue. Solid evidence of the strong u. S. Economy, americans earned more money in 2018. The government says average american incomes grew in every major metro area in the United States for the first time in 26 years. And americans are proving that they have faith in technology companies. Americans, get this, trust google and amazon more than President Trump, teachers, and, maria, even tom hanks. Thats a according to a new report from morning consult. I still trust tom hanks. No response from him yet on twitter. [ laughter ] maria thank you so much, cheryl. Meanwhile this, Bernie Sanders and Elizabeth Warren squaring off in last nights democratic primary debate with medicare for all playing a central role in the battle for the nomination. Jp morgan chase chairman and Ceo Jamie Dimon joined me this week telling me what he thinks is working and what needs to be fixed in u. S. Healthcare. Here is part four of my exclusive interview. This Healthcare Conference, incredible showing once again, every year, more people are coming and while were here, we see the news last week from the journal that the u. S. Cancer rate has declined by the largest amount on record. What can you say about innovation in healthcare, about the kinds of conversations youre having and people youre engaged with this week. Its unbelievable. Ive been coming here since i got to jp morgan, call it 2005. The depth of the recession, more people are coming, more capital deploy, more innovation, thats the story of america. That magic of america, thats unbelieve and. You come here, you feel it everywhere. Someone showed me a presentation on cancer about the things theyre doing now that are just even far better than what had they were doing two years ago which were far better than five years ago. Youre absolutely right to point out cancer got better, down 2 . Some of that is because smoking going down. And i think youre going to see breakthroughs in cancer and a bunch of other diseases. On the other hand, we should remind the American Public, we have other serious problems, too much opioids, obesity, alzheimers. Our health isnt Getting Better on average. Its Getting Better for so. We could do a better job taking care of the health of the average american in a more cost efficient way and thats a lot of us are trying to come up with ways to do that. I know the jp morgan, amazon, bicker shire hadark. Tele medicine, you can deliver a more transparency, a more effective. Maria you think Cancer Patients today do have a better chance of survival. Theres no question about it. You get early detection, far better medicines, and were not even talking about the breakthrough ones coming in, immunology, and biologics and god knows what. Maria youre a survivor yourself. I am. Maria how are you doing . Man im doing great. Five years, im happily a survivor. If this happened 15, 20 years ago, im not sure i would have been around. Maria how has your life changed since that diagnosis . A little bit. No one ever told you, i hate to tell you, im sorry to tell you have cancer, thats a punch in the face that you never thought would happen to you. You know its going to happen to someone. You do, you every on one from that moment forward looks at life differently. Everyone knows youre going to die. Theres a woman, julia baird, who writes for the wall street journal, the new york times, who wrote a thing called its so much more deliberate. I called her up, you are more deliberate on what you do, how you do it, because you know time is not unlimited. Maria thank you for sharing that, jamie. You are incredible leader. What do you think about senator warren and Bernie Sanders plans on healthcare, will it help innovations in the medical space . The thing about healthcare, you can have medicare or medicaid or all these other various systems and do them badly or do them well. What i would urge all these policy makers, you need a welldesigned policy. Its not whether its one thing or the other. I think we have i mentioned, we had the most dynamic Healthcare System in the world, so you dont want to kill that golden goose. Have you to be very careful. You have systems where the services being provided by the marketplace, still one payer. Theres so many ways to design things. In my view, government design, it will probably be a problem. They arent particularly good at doing things like that. Theres not a lot of departments we look at say theyre wonderful. Medicare has been pretty good. Maria you said a minute ago medicare is not responsible for innovation. Maria what i was talking about, you talk about taxes on medical devices, you talk about the pressure on some of these companies. Who is going to invest in some of these new innovations if you think youre not going to actually benefit from it . Thats my point. You need a way to have innovation in the system, innovation and growth and ideas and generation and governments tend not to do that over time. Maria how do you feel when you see so many of your lieutenants leading people at jpm go and work at other companies. You know i were very generous the other day about Charlie Sharf becoming the ceo at wells fargo. What is it about jp morgan and the training you put in that has so many other companies wanting to poach your people. Im proud of them. Some left for different reasons. Not everyone should have been a ceo. Im proud of them. I think wells is lucky to have charlie and hopefully we run a disciplined business, we learn how to do things, collaborate and speat and drive ourselves in energy and edge and do the right things. We look at what our competitors do. We never want to be come play t here. Maria how is this going . Its great. Theyre having the time of their life. Theyre both extraordinary executive. I dont know if you know, theyre great people to be with. You probably met marianne. Theyre fun to be with. Theyre fun, smart, engaging, collaborative and they do their jobs well. Maria i can see you wanting to appoint a woman as your seeser. Successesser. Is marianne lake your successor. It wont be up to me. The board will make that decision. It could hesl hesesely be a w. Maria you look at negative rates in germany. Deutsche bank and credit swiss, their stock prices are below where they were when lehman lapsed. Your stock is in record territory. Whats your take on negative rates in europe. When it was put in by mario draghi to save the Monetary Union in greece and italy, it made sense. That was seven years ago. It was like a little bit of heroin. No one really knows the effect. Youve had really slow growth in europe, a fragmented banking system. You need policy now. Just pushing rates down isnt going to fix the problem. The banking system, its too much regulation, too much fragmentation in banking and credit. Governments have to look and say we have to get all this stuff right to change this. I dont think negative rates are coming here. Im in the camp they are a problem and we dont know how to get out of them. Maria will Christine Lagarde do Something Different than mario draghi did. I know you know her well. Shes not an economist. I dont think you need to be afternoon economist. Very an economist. Some economists actually believe their models. Models are not you human. Had they dont include character, they dont include sentiment. You have to be careful about, youre talking about the complexity of our world. If you have bad mortgage credit which you may not get in the model, that will slow down growth. Immigration could slow down growth. You cant model everything like that. I think the world of mario draghi. I think this notion that Christine Lagarde is talking about its raised several times about now is the time for fiscal policy to do more, less monetary i think it makes sense. I think they should coordinate you can have an independent central bank but they could do a better job coordinating monetary, fiscal and other, other being regulatory, mortgage, industrial policy, incentives to get people to work or Something Like that. I think theyre all important. They all need to be done right. For europe to really grow well, they have to do all of them. Maria are you comfortable with where the fed is right now, largely expected to be on hold for 2020. Yeah. Maria you dont think we need a move in rates. No. The fed, right now, weve been in this position for years that people think the fed makes those decisions and freely. They can. They had the luxury of doing that a little bit. But they may not be able to do it in the future. Sometimes they also react to events. If we have inflation showing up, theyll have to do something that people wont like. The markets will not like it. Maria its an election year. Any expectations in terms of what the economy looks like going into the election or the markets . I think it looks pretty good. You have 12 months, nine months to the election, Something Like that, it looks pretty good. Hopefully that will continue for the sake of the American Public. Maria my thanks to jamie dimon of jp morgan. Coming up next, striking the perfect work life balance. My next guest focuses on how women can have it all. One company is pushing the limits of science to improve your life. We take a look, zeroing in on the companies here. Back in a minute. What do you say we leave for california. Maria welcome back. Women in the workplace, one struggle many women face is striking the perfect balance, life balance. My next guest is a best selling author, the author of you can have it all, not just at the same damn time, range o rommi ns with us. Thank you for being here. Thank you, maria. Im thrilled to have this important conversation. Maria we all want your tips. Tell us how to find had that balance. Well, all women, no matter if youre an entrepreneur, working from home, working in an office, were all suffering from an epidemic, its called Unrealistic Expectations about who were supposed to be, how much were supposed to do, what were supposed to look like while were doing it and its leaving us stressed and exhausted and feeling like a failure a lot of the time and our todo lists keep growing exponentially. Im thrilled to report that there is a fix and i had to figure it out for myself and heres the trick. In order to have it all, the all that each of us really wants, we have to stop trying to do it all all. Maria yep. Well, you know what i always like to say is if you want something done, give it to a busy woman. Because ive got five balls in the air, you want something done, ill do another one. Give me another ball. Thats i always you dont have five balls in the air. You have an entire bouncy castle full of balls. I i dont know how you do it. But i will say one thing, i think youll agree with me, like because you mentioned a appearance. Appearance is important sometimes, but not all the time. When im not here, if im on vacation, i literally will not wash my hair for two weeks. That is no exaggeration. Maria same, same. Dagen its about prioritizing. And if you need to recharge, that means doing nothing that isnt an absolute necessity. Its also about how many maria thats what you were saying. Its also about how many balls youre agreeing to juggle. What i had to do when i had a fastgrowing business and fastgrowing kids and marriage that needed nurturing and me that needed i nurturing, i was drowning and i had to figure out how to stop my life from running me and instead me run my life. And so i gave myself the permission to check out of my life for a couple days, to recalibrate, and it was there in the quiet a choir and the readid the quiet and the reading and the searching and the open ives happening, that i started a process that i work through. Maria its a good way to look at it, make sure youre driving your life, your life is not driving you. We can get into that for sure. Thank you very much for the tips. Good to see you. Congrats on the book. Thank you so much. Maria coming up, healthcare breakthroughs, were here at the jp morgan Healthcare Conference, one biotech Company Pushing the boundaries of science. Thats 10 times genomics. Back in a moment. whistling whistling hey. Hey. You must be stevens phone. Now you can take control of your home wifi and get a notification the instant someone new joins your network. Only with xfinity xfi. Download the xfi app 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. We showed you earlier Goldman Sachs reporting Fourth Quarter earnings this morning, a miss on the top line but a big beat on revenue, the stock is down about a half a percent, reporting a 26 drop in quarterly profit, affected by higher operating costs. Mitch roschelle and Dagen Mcdowell in new york this morning. Its really the expense line that keeps coming clear in all of these banks. Jp morgan investing in technology, Goldman Sachs, expenses one of the issues here. How do you characterize the banks that youve seen so far in terms of the Earnings Growth story . Were seeing loan growth, many of them are suffering a little bit from what the yield curve had done throughout the Previous Year and i think expenses are in fact, maria, a big issue. If you listen to the earnings calls throughout the year, they talked about trimming expenses, trimming in expenses, at some point they had to start investing again. You cant make earnings from not spending on expenses and the fact of the matter is, some of the banks are starting to invest heavily in people and in technology. Maria yeah. And thats one of the issues for wells fargo. I think wells fargo is at a disadvantage compared to a jp morgan which has invested you know, jamie dimon told us yesterday, 11 billion a year invested, spent really is the word r, in technology. Also, the regional banks that dont have the wallets to spend on Technology Like the larger banks, we heard it from jamie dimon, were seeing it in the marketplace, i think in 2020 youre going to see more and more regional banks coming together either to have a bigger geographic footprint or just to have the resources to invest in technology so they can compete with the bigger national brands. Dagen also, Anton Schultz said any banking deals need to get done no later than march of this year because of the election, that nothing would get approved as we go toward election day in november, which is really something to point out. Watch out for, particularly among these smaller regional banks, that are increasingly large, say, 25 to 75 billion in assets. Maria yeah, thats a great point. So expect a lot of deal flow within regionals within the next six months or the next five months or so of 2020. Healthcare also a big place for deal making. Were live ott the jp morgan Healthcare Conference this week. They are looking to improve prevention tools. My next Guest Company going public last year with a 4. 2 billion valuation, made several breakthroughs, including the discovery of a new cell that could lead to a better treatment for cystic fibrosis. Joining us now, serg saxinou. Tell us about the tools your Company Creates to help other Companies Get to those discoveries. We build instruments and we sell those instruments to our customers. Think of it like sort of an espresso machine. Our main instrument is pretty small. We provide cartridges for customers to buy from us and to analyze, to measure their biological tissues, samples, to see inside the cells of the samples theyre working on, measure Different Things like dna, genetics and other types of things that are going on in the cells. Maria so Large Companies need this, like a bristolmeyers is one that you yes, for sure. So just about every single Big Pharmaceutical Company is a customer of ours. So are many biotechs. There are many small Biotech Companies that are started based around our technology. Also, many different laboratories just basic scientific research. Maria what areas are you finding the most breakthroughs right now . We just saw last week that cancer death rates have dropped by the largest amount on record. Where do you think the big breakthroughs are coming from within healthcare . Its actually as far as were concerned, what were seeing from our customers, its actually hard to think of an area of biology where the breakthroughs arent being done. Theres fundamental discoveries being made in just about every area of disease or fundamental biology but cancer certainly is a huge, huge area. Theres a lot of interest. And we are also seeing a lot of kind of newer degenerative diseases like alzheimers and parkinsons, a lot of research being. Maria thats certainly where the need is. Great to have you. Well be watching your company. Thank you. Well be right back. Stay with us. 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 maria o are treasury secretary mnuchin speaking to reporters propriety now about china lets listen in. I think we were very clear yesterday, and in that there is no have to side agreements. That when we do phase two as part of phase two as i said if it be 2a 2b 2c there will be tariff reductions, as part of that that is an incentive for them to do, additional phases whether before election or after election, we are indifferent when we get enforceable issues there will be tariff restrictions as part that have. This is all we get. Absolutely. No, this is an normal enormous win First Time Ever had an agreement this is encompassing Agreement Technology agricultural structural Financial Services currencies, purchase over 200 billion dollars, in additional things dropping the trade deficit will lead to growth o enormous win we also couldnt be more excited about usmca passing the senate this week. So these are big Economic Issues for 2020. Given the fact that there are impact i dont think that the tariffs will have a any Significant Impact on anyone individual. Weve managed tariffs so that mostly all consumer goods are not impacted. And i think quite frankly the average consumer will see a stronger economy in 2020 as a result of this deal, and usmca. So we expect significant growth. Have another topic, thoughts why over that is a little bit of like positive inside baseball i am not going to get to the specifics that have we are having discussions, obviously, with a lot of countries on this. Will American Companies be one hundred percent owned inside china in this agreement and intellectual property section how he strong are they . So on the first part yes, there are opportunities for many, Many Companies to be one hundred percent owned this is as i said a outcome for u. S. Companies workers there are Significant Technology issues in this there are to some remaining technology issues, in have cybersecurity issues dealt with in phase two. Quick has there been any discussion within the administration, to make a personal play whether from yourself from attorney general barr, the president directly, to tim cook on the shooters phone. Again i dont know i have not had any conversations with apple on this i dont know what conversations the attorney general has what had or the president has had again i know apple do you want to in the past on Law Enforcement issues i expect they would would continue to enforce to cooperate but i dont know specifics thank you, everybody. Treasury secretary mnuchin spending with reports outside treasure texas congressman house ways and Means Committee Ranking Member kevin brady attending the signing ceremony always a pleasure to see you. Thanks very much for being here. Thanks. The o white house treasury making a formal big deal of the signing ceremony, tell us how you see it whether or not do i think that china will keep its promises in terms of those agricultural buys in terms of protecting intellectual will property as well that is big deal. I will tell you reviewing 23 the agreement last couple days there is a big deal especially for American Workers in or job traders, china as you know has taken advanci advantage for a long time this is the First Agreement do i think historic right term here because he one it addresses many Priority Issues china has long is . Ed they would never discuss secondly puts i is on level Playing Field a number key are industries that means jobs for American Workers for the long term. Thirdly i think the the specificity of this agreement is a bit stunning. In the past china obligations were where vague with president obama and others. This is amazingly specific not just what they will do, but the timetable for it, and about will about about not have beenability i went to this can you hold china accountable the agreement does exactly that if way it does it one commitments are clear there are time tables it is specific, secondly it really, moves these disputes up to the senior level, very quickly, so they can be resolved, and in the agreement itself, a lot of allows american businesses to prevent some misbehavior abuse before they occur, that is that is something that our businesses have long will sought and they get this in this agreement. Maria yeah, i am glad you are pleased with this congressman that makes me feel better, china, 500 billion dollars in terms of trade usmca, is much more than that. Mexico and canada 1. Trillion dollars in trade with United States Mitch Mcconnell are expressed optimism about landmark trade agreement finding its way to the president 30s desk he said will get to president by next week. We are it looks like able to process usmca here in the senate, this week, that will be good news for the senate, and for the country. And something i think we he he broad you bankr bipartisanship agreement on do you agree with that that in fact it gets to the president s desk in the next about week. You know i think it does wow. What with a couple weeks, for again big wins American Worker farmer, here i will tell you this is a president , who insisted on fair trading relationships a level Playing Field both with mexico and canada partnerships hugely important to us us with china as well in area where, frankly, the rest of the world did not believe that you can with actually force china to make keep commitments exactly what the president is delivering on. I think, two, people will quickly move to phase two. There is more work to be done on priorities absolutely, but this phase one, in my view, frontloaded many of our biggest priorities on intellectual property can you imagine, you know, china no long eallowed to force American Companies to transfer technology to get access to china or administrative approval to operate there . That is something frankly no one believed could happen finally while people will look at the purchases, and some of these agriculture, are stunningly high, beyond that, in this agreement, the theyve moved bares that keep us from selling long term in china i think that is frankly even more exciting for us. Maria i mean there was some worry that when the chinese translated the deal that they actually changed the wording. Whereas, instead of saying, you know a 40 to 50 billion dollars agriculture buying chinese translation came out with it is up to market demand. So that is is tells me what they want when they want so i dont know whether i have been able to seen the English Version i havent seen any details there nobody has we are looking to get hands on details to see if china pulled a fast one on us changing the language. I dont think they did you will be impressed with how specific this agreement is all through it secondly, u. S. Trade representative secretary mnuchin we are were mindful of the games played in the past, Lessons Learned from past discussions yeah, i have a lot of conversation confidence in them. All right so you think usmca is going to pass the senate, get to the president positioning desk within next week, this week, this week will pass senate get to president s desk within the next week. China going well on phase one, what other priorities are on your agenda congressman for 2020 . Because as you know, impeachment and this upcoming trial has pretty much taken oxygen out of the room, aside from two victories that you just talked about. Yeah, yeah, look. Impeachment frankly has just derailed, the real substantive discussion that need to occur i do think the white house moved forward despite that. Want they are working full speed, dont overlook door opening in japan that began new years day i think that is very important to ultimately opening japan i think european commissioner portrayed impound today ways and Means Committee meeting on eu agreement obviously, holds a great deal of potential we are huge trading partnerships but long stand being disputes that needed to be addressed, obviously, uk not to retain but actually grow trading relationship with them. Clearly we think making the World Trade Organization more fair, the way they o will will will resolved disputes again President Trump our degrade ambassador made a priority we think that is crucial, so that other countries play by the rules. That is good for the American Workers as well. Maria yeah, sure is, and the American Worker has benefited from higher wages, certainly. No question. Maria the job situation post your legislation, on taxes, are you know, we just spoke to jamie dimon chairman ceo jpmorgan why not immigration why not from your . Looking to get more done but to sudz have a hard time coming together. Does everything hinge on what happens with senate trial and President Trump . I think as long as as impeachment foolishness continues congress is not going to be productive, truth of the matter is women and women of color are biggest winners because of tax reform with jobs wages but there is more growth to be had higher paychecks to be had if the house especially will get away from impeachment stuff and actually start we need more customers what these trade agreements are doing we need more workers because we still have seven million job options there are a lot of people, day really been shuntde. To sidelines in welfare system we think could ge much higher potential for families yeah there is good work can be had to help grow the economy further q. Congressman great to see you this morning thanks. Thanks maria. U. S. Ways and Means Committee Ranking Member congressman kevin brady joining us a reason to break up with dedicating app proiflz may have been compromised disney plus record setting start stunning number of downloads coming up right of after this. Apps are used everywhere. Except work. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com maria sting video this morning that shows a second rairp missile hitting a downed ukrainian passenger joet. Cheryl video from Security Camera shows two missiles hitting the plane, and that killed all 176 people onboard those missiles fired about 30 seconds apart, the person who posted on youtube, by the way, has now been arrested, are iranian officials about denied any responsibility for tragic accident. Another, record for the house of mouse accordinging to study streaming app downloaded more than 41 million times generating almost a hundred Million Dollars in user spending last two months, this is disney more than four times that of hbo current streaming app netflix dominant appe more than 150 million there. Fallout from prosecute mlk scandal alex cora was fired, developed to steal pitching signs while he worked about with astros earlier this week houston fired gm and manager for alleged sign stealing during 2017 world series championship season. Swipe left to have are personal data shared with advertisers, yes a new report from norwegian consumer counsel found apps tinder, ok cupid transmitted sensitive user data, religion to at least 135 third party companies, lawmakers are are being urged to tap into privacy laws they shl enacted in 2018 in europe u. S. Groups are saying we need to step in and do manager more to protect peoples privacy. All right, this you coming up no holding back 2020 hopefuls taking the stage in the finalizing debate before iowa caucus last night, the biggest moments when we come right back straight ahead apple shares doubled in the last year investors hoping to see that stretch into 2020 and beyond we are going to speak with one major investor when we come bacback. Stay with us. Ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. And who doesnt love going home. 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. 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Maria welcome back, about markets are flat this morning, lets look at futures, dow industrials down 32 points, by the way, earlier i said may be this is goldman o goldman o do i want but fractionally lower you united he health care down goldman and you United Health pressuring dow industrials. Big banks coming out with request earnings we did have higher costs, weaker m a in terms of Goldman Sachs, they put an extra 12. 24 billion dollars, last year to cover legal regulatory issues, we are awaiting the signing of phase one chinau. S trade deal later today that certainly has been a big boost for o markets offer the last year, the anticipation that we would get a big detail seeing that formal ceremony today, tat white house, joining me right now to talk investing markets today is alphaone capital pairnz Founding Partner dan niles great to see you. Thank you for joining us i love your work you do such thoughtful research on this market, we had a good year in 2019 what are you expecting for 2020. Well, i mean i think right now you are in that phase of market always fluctuates between greed and fare right now if the greed as if he you have seen a great 2019 s p up 29 , s p up 2 1 2 to start year nasdaq up another 3 to start 2 year, but i think, you know with the democratic primaries coming up february 3rd you are going to have to deal with the fact that you have got valuations at record levels back to where they were in 20,000 if you look at things market cap divided by gdp, and youve also got earnings that s p earnings, were up 1 last year the markets up 29 . You better see earnings come in, and if you dont, youre goings to have a real issue, so i think that is where you are with the overall market. Maria really important point that you are making markets were up 29 earnings only up 1 . Normally this market trades on the backdrop on earnings so why were markets up so much when earnings basically flat. I think there is one big reason, or two big reasons within optimism that trade deal would happen with china, the phase one part of it did come about. The second one though people are not necessarily focused on, is the repo markets had an issue i think you might have talked with that with with jamie dimon a, issue they had an issue in september, and the fed started up qe again they dont talk about it as being qe but expanded Balance Sheet from 3. 7 trillion all the way back to 4. 2 trillion about four months. Maria i asked jamie about that, because that 400 billion dollars in in expand money supply that are materializes in deposits into banks it drifdz markets what you slau Central Banks specifically driven by fed cranking up Monetary Policy again, we saw that, we got back long again in september, and started buying names, that looks like that should start to tail off some point but people should concern people there is a problem in the repo markets fed had to crank up Balance Sheet again people are sort ignoring all bad news markets going up more money into paths, they drivers it up more. How you navigate a narcotic 2020 when youve got a big election, president ial election is zeroing in on pretty much socialism policies versus capitalism policies you say if we see a winner in this democrat primary ini away that turns markets lower how he do want to navigate this market into the election. What were doing Agency Market goes up we are selling, and we are shorting, because our view is that, you know, the polls have not been good nobody at this time four years ago president the president would be President Trump nobody predicted brexit, right now there is a lot of momentum by the more leftleaning candidates, if that happens and lets say tax rates from 21 to 35 both Elizabeth Warren and Bernie Sanders proposed that next 18 out of s p 500 earnings. In additions to that, market multiples as we talked about record highs 1. 4 tiles market cap to gdp the multiples will compress more to see 18 earnings correction add a multiple compression that is not at you of the realm of possibility who knows who is is going to end up being elected those are things you need to worry about especially given Bernie Sanders and Elizabeth Warren seem to be doing well in early states coming up. Maria you want into every rally you can at this point. Yeah market had nice you know santa claus rally that everybody talks about as nice start to the year. And so i want to take advantage of that we saw that yesterday, right jp morgan Great Results wells fargo didnt jp morgan up less than wells fargo was down i think you want to be a lot more cautious with the market up here in valuations where they are not everything is expensive but a lot of things are. Top pick for 2020 momentum this company manufactures optical products you think could rise 50 to 100 . A big theme next year 5g we have all heard about it, this stock trades about 16 times earnings what you are going to see, coming up, is with increase in 5g speed ten many times more data throughput, augmented reality a big feature apple will dro that on rare facing part of phones coming up next year, so i think what you are going to see you have a billion and a half units, going to show up in apple phones, i think you might see it in ipad coming in First Quarter in you march quarter you are seeing all android players five times size of apple in terms of units going to start introducing that as well we like momentum a lot. Maria ro even though stock did well Fourth Quarter look at that chart. Trading 16 times s p trading 19 times apple itself, is trading at 23 times here is funny part apple iphone revenues last quarter september he quarter down 9 year over each and every mum revenues to apple up over 30 yearoveryear are a third of listens come from apple so for me if you are bullish on apple why not buy Company Growing regardless whether apple is growing or not because apple is having to put more expensive components into their phone with augmented reality becoming a very big feature, the one of the great new technologies in next decade, the very cheap way to play that. I like that idea apple shares done so well, you have called this stock, so well, on apple. Let me get your take on this because the stock doubled last year what happens in 2020 for apple . Well i think here is the thing, stocks and investing is always about risk restore so if you look at apple the multiples 23 times. At it s p 19 times recent quarter apple revenues up 2 operating profits of actually down 3 biggest product iphone revenue down 9 , so at these levels a lot of things have to go right to get a multiple for apple which is at decade high, to go up from these levels. If anything goes wrong you are going to have a big issue if you look at 5g, apple has been benefiting last year and a half from component prices like dram, semiconductors in general he collapsing fist in year and one half semiconductor prices are starting to go up again, the cost to build 5g phones is more than 4g phones but a lot of price pressure we own apple, we bought in it september can when fed restarted qe thought products are feeling better than i would have expected given there are not that many great features but our view we will be probably selling apple as we get closer to p democratprim who knows may 140r9 it hostage against momentum. Do you think stock moves if tim kwook helps with unlocking iphones pensacola shooting or does it matter. I dont think it matters i would say of all ceos in the world, tim will cook has probably done best job bar known managing the administration put are personal feelings aside every good ceo should really worked being with current administration, with china. I mean one of the few guys i know that you know would have actually done okay on a relative basis even if chinaing tensions ratcheted up because he has done amazing job managing. Is there anything like frothy to you that you want to sell immediately right here . What is worst part of this market that is real frothy risky in your view. I mean, you know a lot of there are so many different areas you could see look at. Maria okay. In terms of valuation but i think tech in general, when i look at Software Companies software is as services company, those are the ones that scare me most because a lot of those names, they are growing very fast they are growing 30 to 40 top line, but they are not making any money on the bottom line analogy would i give you is following you and i were around late 90s amazon stock is 106 dollars a share in the late 90s. Look at it now shm. The thing they were generating 1. 6 billion in revenues the next two years revenues almost doubled from 1. 6 to 3. 1 billion in revenues the stock went from 106 dollars a share to 6 as there are a share revenues are were doubled. You got a lot of Software Companies trading 20 times price to sales levels making no money. If you have a problem, with the economy, the market starts to sell off there is no valuation support at least apple is sitting on a hundred billion in crash real crash flow real earnings we dont have that in a lot of swear names we saw in Fourth Quarter of 2018 what happens when people go from greed to all of a sudden fare and panic mode that is stuff going to suffer. Great analysis as always great to see. I awesome to see you. Ppi talking looks like in line get to Deirdre Bolton the December Numbers right now. That is right, Producer Prices edging higher in December Maria we have a read here. 1 economists even looking for a slightly hotter he figure if you like, at. 2 . If you look at yearonyear figure though it is exactly as expected. 1. 3 . So essentially showing inflation is not a big worry right now in u. S. Economy we can see futures mutdz reaction to figures maria so just repeat quickly. 1 cooler than expected for month of december. 1. 3 yearonyear exactly in line. Back to you. Maria of exactly in line no movement in markets on that number about the december ppi having little effect but we got a mixed market dow industrials down 19 nasdaq up 7 and one half well be right back stay with us right here on mornings with maria. Our Retirement Plan with voya gives us confidence. They help us with achievable steps along the way. So we can spend a bit today, knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Dmajt candidates taking on President Trump tried, and one another, about lasted night. This new trade deal is a modest improvement senator sanders has said so every marriage Environmental Organization has said no to this new trade agreement because it does not even have the phrase Climate Change in it. I dont know anyway trade agreement frnl or whatever made any sense. Joe and up have a fundamental disagreement here. In case you havent noticed. We know how donald trump is going to run for president going to run on the economy. You are all going to vote for me, because the democrats are going to destroy the economy in the 15 minutes. I can hardly wait to have a debate with you, where i come from neighbors i come from they are in real trouble. Maria joining me right now former Senior Adviser to president clinton with us thanks for joining me. Great to see you. What was your reaction to the debate last night. You know the truth is i think it was kind of a status quo debate i dont think it changed much of anything in terms of the dynamics in iowa o probably didnt change dynamics around the current very much, everyone came kind of played to form, for the most part, i thinking if there was anyone who did well, there i think Amy Klobuchar is the candidate i keep saying who does best in debates gotten the least from it. You were in particular you liked one specific thing she had to say we have that sound bite let me roll that get your take on it watch this ai am a klobuchar. When mccarthy was black lifting people going after people because of political believes or supposed political bleefdz only one man everyone was afraid afraid of being blacklist will theed josephs welch look at mccarthy and said have you no sense of decency sir have you no sense of decency this is a decency check on our government. So Amy Klobuchar keeps he doing in other clipped straight to policy issues as moderate, but then what she also is doing every tile gets a chance she a pivots takes it back to trump, that combination i think what is is going to take in order for democrats to win, and be he be the President Trump next year or this year you know, she has a great combination of what the message needs to be delivers it well. Will the we will see. You know. She has been an outlier in terms of where she is in polls we will see how things go. As you know, iowa has a way of surprising people i am not majoring any predictions there i think beyond that, you saw everyone playing pretty much to form as i say, joe biden sort of trying to straddle things be the yunityer moderate Bernie Sanders going to left as always think going to inspire followers to get out of caucuses, he and luiz luiz tussling over who is going to own that part of the election. This moment in time who do you think will be candidate to go headtohead against donald trump. So [laughter] i dont like liking prediction like that i tell you every good chance the other person who did well last night wasnt on that stage Mike Bloomberg so much is going to depend what happens in next month, if Bernie Sanders comes out of iowa, with a head of steam wins New Hampshire picking up momentum there is as you can into South Carolina a chance if sanders moves forward a lot of focuses in the Democratic Party are going to say we have to have a strong the moderate kwd cant beat trump going left, bloomberg running ads in key states around the country could emerge as a result of all of this the. We will watch the impeachment is headed to trial nancy pelosi plans to hold a vote today to send the articles to the senate Mitch Mcconnell said yesterday trial could start as early as tuesday. How should the white house approach this process, your reaction to what has a take place place in terms of impeachment . Well, it is kind of amazing that in some ways impeachment is like a secondstory on the front pages. Of the you newspapers at this point. This thing has dragged on i think nancy pelosi did the right thing, and happens handled this in right way she is a one plrm figure in this country keeps getting under trumps skip who he doesnt know how to deal with i think we are going to find in the effects five to seven days, major developments coming forward new news about what Rudy Giuliani his team of people were doing in ukraine we dont know if were going to have witnesses testifying especially john bolton this its a very dynamic factor at this point we will see what happens, i do think, that a lot of a lot of country has tend to tune it out at this point. And that is what i was going to say you just said amazing that impeachment is not at any front page the secondstory. Is that because the public thinks that it has been unfair situation . That they think that this situation in the house, rules making up rules as you go along, that some of this is creating something that is not there, i mean that is why . It is secondary story. I think i think quite the opposite i think has become secondary story because public thinks nothing is going to happen because in senate with republican control, i think of they believe that given, the dedication to trump republicans in the senate they are not going to do anything about it. And so i think everyone tends to think they know what the outcome of this is going to be already moved on to next story. That doesnt mean it is not going to have an impact. Maria are we will see what happens like you said in next five days, and where this trial goes, do you think there is any truth to the fact that Kevin Mccarthy on sunday morning futures says that is way for nancy pelosi to cooler decks for joe biden youve got senators warren, Sanders Klobuchar sitting in trial room on jury duty with impeachment trial, clearing the decks for joe biden about in iowa New Hampshire wherever else depending how long this trial goes. You know i think that is a pretty cynical way to think about it, no i dont think that is what this is. Because the fact of the fat is, i mean, this now is about the ground game of organization in iowa the candidates being there not being there is going to make some differences, you can count on this. The fight between the washington, d. C. Area and des moines, iowa, those senators are going to get there, for a lot of what they need to do even if they have to be back here sitting as a jury. So i dont think that they are going to get there don they have got to be in the senate trial six days a week you are saying they are going to get there at night after they get off the trial at night. Yeah they have got surgo tos. They are there sticks out of the seven days at this point not face or voice of the candidate on the ground, it is about thousands and thousands of people who are out there getting people out to this caucuses. All right. We will be watching exciting year don good to get insights thanks so much. Thanks maria. Joining tell us thank you, coming up House Speaker pelosi planning to send articles of impeachment to Senate Chinese officials poised to sign phase one trade deal Stuart Varney wades in on it coming up next boeing under pressure he jet maker facing a slump one airliner sees more problems for 737 max down a fraction. Ask maria i will be answering your questions from social media you can submit them through Instagram Twitter feed. Do that please. We are back. Minute. This week on mornings with maria, tomorrow, increasing iranian saber are rattling bringing u. S. To brink of war senator James Lankford on the path forward. Friday time to ask maria answering the questions that matter to you that is all right here on mornings with maria. Everybody knows that. Well, did you know pinocchio was a bad motivational speaker . I look around this room and i see nothing but untapped potential. You have potential. You haveoh boy. Geico. Fifteen minutes could save you fifteen percent or more on car insurance. 45 plus at average risk. Ive heard a lot of excuses to avoid screening for colon cancer. Im not worried. It doesnt run in my family. I can do it next year. No rush. Cologuard is the noninvasive option that finds 92 of colon cancers. You just get the kit in the mail, go to the bathroom, collect your sample, then ship it to the lab. Theres no excuse for waiting. Get screened. Ask your Healthcare Provider if cologuard is right for you. Most insured patients pay 0. Trade deal joining is the host of Varney Company stuart sfoourt is toaway in on all that busy day stu. Yes, the big event as you point out maria is 11 30 eastern time this morning the formal signing of the phase one china trade deal. The power elites among republicans will all be on hand, the president the Vice President , the cabinet many members of the white house staff, members of congress, and, of course, the very high level chinese delegation. This will be a you triumph for the president he pulled it off what happens Speaker Pelosi gets in front of that trade deal signing at 10 00 earn time holds a press conference announces names of the managers impeachment drive in the senate obviously, attempt to upstage president make create news cycle in advance whether it works or not another story entirely to me big event is trade signing i should add maria next week the president will reverse things, when the impeachment starts, our president goes to davos, he steals headlines from there the beltway crowd will be minutiaizing, ukrainian situation donald trump rules world from tweets quite a spectacle i think. So she comes back messes with state of the Union Address in february, because the trial will still be on we will be watching that as well, stu i know you have a lot more we will see you top of the hour. You will. Maria thank you stu Varney Company begins 9 a. M. Mariner after mornings with maria join stuart about 10 minutes time first boeing under pressure this morning the facing a slump one airline sees more problems with 737 max then investors are watching Bank Earnings this morning taking a look ating banks modifying markets right here. Back in a minute. Ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. And who doesnt love going home. I di kept putting it at was i . Screened a long time ago. Ok, mr. Jones. Were all done. I told you it was easy. With life line screening, getting screened for unknown Health Conditions is so quick, painless and affordable, youll wonder why you hadnt done it before. So if youre over age 50, call now and schedule an appointment near you. 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That is right a mixed result coming out here this morning bank of america out missing on revenues, as you can see, the stock poised to open down Goldman Sachs the opposite story, missing on, beating on revenues, those shares also down, i got to tell you Goldman Sachs right now leading, the dow down this morning as we wait for the open, blackrock beating on earnings and revenue, this topping seven trillion dollars in money under management for the very first time they are the Worlds Largest money manager very big news there, i got to tell you what everybody is talking about down here target poised to open down 6. 6 after disappointing holiday sales, the improvement samestore sales yearoveryear just 1. 4 a Company Stock up 83 past 12 minutes lots of High Expectations they are missing this morning, boeing orders fall to 16year low, Malaysian Airlines as you spending deliveries 737 max jets due to grounding american yesterday sending cancellations of 737 max flights to june bad news for boeing continues back to you. The. Gerri willis on wall street this morning looking at markets worsening here down 76 points dow industrials Mitch Roschelle Dagen Mcdowell in new york mitch your overall reaction to earnings, obviously, the consumer is solid, but corporate borrowing is down, and you did see softness in lending. Yeah, sort of a mitigated bag across banks i think that alone getting up a combination of consumers businesses a good sign, people borrow that means investing some place that is good for the future. I think they have shaken off some of the Interest Rate sensitivities from last year, making sprefle investments miss market overall market you on down i think target big story we havent heard from he retailers yet perhaps canary in the coal mine for some brickandmortar he retailers didnt have the Christmas Holiday season they thought they were going to have. Maria bofa down, one and a half target down 7 , amazing that blackrock has seven trillion dollars aum more with this allstar panel. 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