Transcripts For FBC Mornings With Maria Bartiromo 20240713

Still rock bottom. 30year bond looks like, this up 17 basis points with the year on the 30year at 1. 192 . Supporting the economy and threat of coronavirus. President trump floated the idea of payroll tax yesterday and help for industries and that sent futures higher last night. We will take a look on exactly whats involved. Voters in 6 states are heading to the polls today. Investing in apple, history, how you could own one of the first Apple Computers ever made and fully functional. Mornings with maria is live right now. Maria we have a bounce going on, all positive following the big selloff and rebound this morning. Cac quarante in paris up 3 and a half percent and. In asia overnight, green across the board as well. Take a look at this, the numbers up, shanghai composite, Chinese Market up almost 2 right now, overnight rather. The Japanese Central bank has been buying equities. Also this morning some of the top stories that we are watching this morning, chinese president xi jinping visiting wuhan overnight, the epicenter of the outbreak. First time since outbreak began, sign beijing is confident that the efforts to contain the virus are actually working although thats what the chinese propaganda will say anyway. Countrys Prime Minister urging to stay home and this is this as thousands of passengers board a cruise ship in california or slowing or leaving the ship. Grand Princess Dock at port of oak lan yesterday. And the rest will leave today. More members under quarantine, republican congressman matt gaetz will be working from home. Mark meadows is also under quarantine. It is super tuesday. Joe biden and Bernie Sanders going head to head. State to watch is michigan tonight. Sanders taking part in town hall on fox last night and sanders asked what he would do if he was president right now. We have an infrastructure today which is crumbling right before our eyes. We have millions of people spending half of their income on housing in this country, so what i would do is invest in workingclass people in goodpaying jobs by rebuilding infrastructure roads, bridges. I dont have to tell the people of michigan who have lived through flint, michigan about horrible water system. Maria sanders defeated Hillary Clinton in michigan back in 2016 which was considered a major upset. This time around biden appears to be the front run e in michigan. Polls there opening in michigan at 7 00 p. M. Eastern this morning. The fifth, third employees open deposit and credit card accounts without customer approval to meet add beneficiarious sales goals set by the company. In lawsuit filed yesterday in illinois, cfpb say it is Cincinnati Bank knew what was going on and didnt do enough to stop it. Similar situation over at wells fargo a year or so ago. The bank calls allegations unnecessary and unwarranted. And if you didnt look up last night, you missed something really big, a super moon filled the sky as the moons orbit brought it to closest point to earth. What a gorgeous sight. I took my own pictures, actually. We are talking about market rebound. Take a look at futures indicating a gain of better than coronavirus fears caused the market to plunge and freeze along with, of course, that massive selloff in the price of oil and the fight between the saudis and the russians, President Trump weighed in yesterday saying that his administration is considering a number of ways to boost the economy in the wake of the wuhan virus outbreak. We will be meeting with House Republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief. Hourly wage easterners getting help so that they can be in a position where they will not miss a paycheck. Maria those comments boosted markets overnight. Joining the conversation kings view chief Investment Officer scott martin, fox business Dagen Mcdowell and new york Editorial Board member kelly torrence. Good to see you this morning. Kelly good morning. Maria i sort of like this idea. I want to get your take. This is about helping people that are working, cutting taxes, increasing the salary of working people which you have the payroll tax, 7 and a half percent is paid by workers, 7 and a half percent is paid by businesses. You get the tax relief from 0 to 90 days or until the end of the year. Thats what he was talking about yesterday so people have more money in their pockets and small and midcap businesses also get a break. Dagen president obama did this during housingrelated financial crisis and Unemployment Rate didnt budge, it provided not enough stimulus into the economy. It looks like its important that the administration, that the white house and President Trump are trying to get ahead of this saying that they will do something but certainly people within the administration according to report that is Steve Mnuchin and Larry Kudlow National Economic Council director would rather do something narrowly targeted, helping people who are sick, who need to get paid who dont have sick paid leave day s. People are expecting the Federal Reserve to step in a way, shape or form. Maria expecting a 50base point cut from the Federal Reserve in march or in april. I was like what . The president is going to the senate today, meeting with republican senators for lunch and socializing the idea. Other holiday for people who dont file taxes on time. You dont get any late penalties. Loans to Small Businesses declared disaster areas like, for example, seattle. Thats another thing and provide help for the hourly worker who has to make a choice. Make sure that they get relief for them but, you foe, hes talking about cutting taxes, the payroll tax but youre right, disagreement within the administration in terms of what route to take. Scott its great, a lot on the table and the markets are expecting a lot and as dagen pointed out the fact that we have payroll tax for 3 months or maybe until the end of the year is a great option because thats something that the markets are seeing, okay, this isnt such a if its shortterm, great, and i think also too if theres coordination with the Federal Reserve, maria, with more rate cuts thats what the market is also want to go see because we see the plummet in 10year, low er rate is great. Maria 50basis points in april, im like, where are we going with this. It looks like thats where we are going in terms of the cuts. Dagen i said this yesterday, another rate cut wont help as much actual liquidity. Maybe selling treasuries and then buying mortgages is one idea thats been floated out there. One thing that the administration cant do tax payment deferment for some of the hardhit companies because yesterday was a credit crunch for the Energy Companies but then also concerns about financial contagion and airlines lodging and retail, so if you defer tax payments that gives them at least a little bit of a breather on cash that they have to cough up to the federal government. I like ideas like that. The question is what do you target and how do you target. Theres a lot of businesses that will be affected by this. I actually like senator steve from montana want to put a pause from payroll tax rather than total pause. I hope President Trump hears about that. Maria you have 7 and a half percent the payroll tax is 15 . 7. 6 paid by employees and the rest paid by employers and so they want to cut that to zero, possibly till the end of the year, so thats what the president is talking about, getting rid of the payroll tax. Dagen the problem is it actually funds benefits to the american people, funds Social Security and medicare so we actually, you know, we need that we need that money. One quick thing about the airlines, the International Air transport association is expecting that passenger revenue worldwide could fall could be fall as much as 20 , thats more than after 911. After 911 it was only 7 . To put it in scope, this is a global, global crisis. Maria it sure is. They want a coordinated answer to that. We are just Getting Started this morning. A lot to talk about coming up. Super tuesday part 2. Michigans economic stride. Democratic candidates, we are taking a look. Spotlight on mission. Transforming financial light. Entrepreneur day monday john to damond john, we will hear what he has to say. We have the list this morning, coming up we are looking at a 4digit rebound. A whole lot of love, the new ruling of most famous song stairway to heaven. Victory. Back in a minute. Maria welcome back, wall streets wild ride, check out futures pointing to 1,000 point rally at the start of trading, the dow on track to claw back after yesterdays massive sell off. Joining us right now mark avalon, would you buy into this market this morning . Id wait and see what happens a little bit more with the tactic that is we are seeing either from the fed or from the president and bank meeting tomorrow. I think the markets reaction is programmed trading that we have good news. We need to correct yesterdays perhaps oversold position. Look, until the severity of this virus is understood, how its communicated. Until these things are known, business meetings will be canceled and the residual effects of that are far more than just a hotel room or airline seat. When a conference is canceled it affects local florists, the wait staff doesnt get to go to work and i dont think we have seen the trickle effect of the economy from all of the cancellations and thats what concerns me. Maria you make a good point. Once we get the expectation straight, whatever they are, wall street, investors will are more clarity and will feel comfortable investing in this market but at this point, scott, you just dont know where this is going, what kind of an economic this is going to have and when you dont know scott you mentioned program trading, what have you seen with respect to program trade on down days and thats exacerbated the big moves . Well, i think they are driven by fear right now, any bit of bad news crossing the wire sets a trigger. The fear is that we are in for a 2008 situation especially when you see the weakness in banks and people start to question the fundamentals of the Financial System. Look, they have a reason to worry at least about the banks. Look in a very flat, low and no yield curve to speak of, they wont benefit from fees, you have default risks and they are trading through m a operations are not getting revenue because deals are coming to a standstill. When you see a weakness in the Financial System that sends a lot of worry and thats why youre seeing reactions. Why did the fed lower by 50basis points and why is the president calling the bankers into this meeting because we want to stem the fear as quickly and swiftly as possible. Maria let me ask you about the level of Interest Rates, does it bother you where we are, the level of Interest Rates where we are, expectation that is the fed will cut 50 basis points before this actual meeting which happens on march 17th, do you expect another cut . Well, i think they will cut, im not sure they will do 50 because it leaves them so little after that, but if they cut even a quarter, im not sure how that will help with the fear factor, its not going to help people onto planes and its not going to help people spend. Whats been driving the rally is consumer, Consumer Confidence, great job numbers, wage increases and Consumer Confidence then spends money. The fed cutting rates is if the going to help Consumer Confidence. People are starting to hunker down. I think we will start to see Lower Consumer spending against the backdrop of uncertainty. I think the fed has made a bold statement. I think if they go back in with another 50 basis point cut it could almost look a bit alarmist at this point. Maria they know something a lot worse than we do right before our meeting and maybe markets react negative through that. We will see about that. Mark, good to see you, thank you. Good to be here. Maria quick break, facebooks feminine touch, opens new faces to the board. Who made the cut, coming up. Tom brady, see whats next in his agenda. Big story. [ fastpaced drumming ] [ fastpaced drumming ] its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. We want you, we need you. Theres a place in our campaign for you. Which campaign is best able to defeat donald trump and let me say without any hesitancy our Campaign Together is the campaign. Maria voters headed to the poll in 6 states in what is referred to as mini super tuesday tonight. 352 delegates up for grabs with michigan holding the most, 125 delegates in michigan alone with former Vice President joe bidens recent momentum could today be make or break for Bernie Sanders as well as Tulsi Gabbard who is still in the race, you know, its going to be interesting to see what comes out tonight. I guess Bernie Sanders won it narrowly in 2016. Looks bad for him, all the polling has biden, you know, taking michigan, but, you know, Washington State has 89 delegates up for grabs, so its close to michigan in terms of numbers and that race is super close and one of the things i find interesting washington is one of those vote by mail states. As of march third when Elizabeth Warren and Mike Bloomberg were still in 1 Million People had already voted. So again, im not a big fan of early voting and this is one reason why. Everyone should be looking at the same candidates and right now looks like Washington State is 50 50, could go to either and thats the second biggest prize tonight. Dagen in terms of demographic joe biden wouldnt he run away with a mississippi and do exceptionally well in missouri and Bernie Sanders would have to do much better in michigan with voters who didnt come out for him on super tuesday. He needs to run away with this if you if hes going to change the trajectory of where this nomination fight is going. The fact that he canceled mississippi right after super tuesday. Thats a big sign he saw the writing on the wall there and immediately went to michigan and i think, you know, kind of desperation. Scott Washington State is a big coronavirus state, so its going to be interesting to see if theres turnout issues because of the fact that people are worried because the fact that coronavirus is there. Thats another thing too when you look at delegate results. Coronavirus will have an impact in a couple of the states. Dagen by the way, completely fair to talk about the age and health of both of the gentlemen given the fact that scott Spring Chickens or what . Dagen what anyone would call exhausting pursuit running for the president. Both of the men will be older at the end of first term of his president than Richard Nixon when he died. Maria wow. Joe biden was very clear about that. Look, i will probably be one term. I need somebody young he said. Im not in it for the long term. He told his donors amazingly so. Quick break, the white house response to coronavirus helping drive markets this morning, rally under way, better than a thousand points in dow industrials, investors are retreating to gold and oil, oil as you can see is up 265, thats 8 facility percent this morning but gold is down about 16, we will take a look. Plus a whole lot of love, the band stairway to victory coming up. Ith cargo. Cover more ground with the fast, durable kubota sidekick. But inside every etf. There are untold hours of careful construction. Infinite what ifs . And contingency plans. Creating funds that help target gaps in client portfolios. Tap untapped potential. And strengthen confidence in you. Flexshares. Powered by over a century of investment expertise before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. For a prospectus containing this information. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on all we need is someone to lean on maria welcome back, good Tuesday Morning, everybody, thanks so much for joining us, im Maria Bartiromo it is tuesday march tenth, top stories 6 30 a. M. On the button on wall street. Take a look at futures indicating a rebound this morning in a big way up 1,000 points on the Dow Jones Industrial average. This after a massive drop yesterday when the dow, nasdaq and the s p 500 plummeted better than 7 a piece. Biggest selloff since 2008. The price war between saudis and russians sent 4year low yesterday, price is ticking higher bouncing better than 9 , oil prices are at 34. 05 a barrel. Treasury yields are bouncing back a bit but near historic lows, the 10year up 15 basis point sitting at. 72 . European markets are also rallying and as you can see higher across the board. Cac quarante in paris up 198. The dax index in germany higher by 357, thats 3 and a third percent in germany. In asia overnight, best performer china, up 1. 8 . In japan Prime Minister shinzo abe says government will work close to bank of japan to stabilize market, more stimulus coming. The death of 2 u. S. Troops could prompt change in strategy in iraq. Cheryl casone with the details. Cheryl the men killed over the weekend during gun battle with isis fighters. Military Officials Say troops were working with Iraqi Security forces at the time of the attack. The two Service Members are the first to die this year. Well, robinhood in hot water with its customers. Third in 8 days and happens get this shortly after the opening bell preventing users from trading or selling during the wild market days, service wasnt fully restored until get this 3 30 eastern time. Its been clear what actually caused the issue. Well, facebook is trying to increase its diversity footprint. Social media giant welcoming two women to its board of directors. They are former mckenzie executive tracee travis and estee lauder ceo. Facebook had no females on its board when it was public 10 years ago. Theres the stock in the premarket up more than 4 and a half percent. Well, stitch fix shares plummeting after the companys Quarterly Sales and missed analyst expectations and issued disappointing outlook for the year. The company says that current customers are spending less per order and they blamed, heightened promotional activity across retail during the holidays. Theres the stock on your screen. Well, a federal Appeals Court ruling, the band had been accused of ripping them off from a song called tourists from the band spirit. Well the court ruled that the original verdict made in favor of verdict was wrong, guys, citing mistakes by the judge. Those are your headlines, maria. Maria all right, cheryl, thank you. Good story there, cheryl. Coming up coronavirus stimulus House Speaker nancy pelosi says democrats could release their proposal for a second round of economic stimulus to combat the economic hit from coronavirus as early as this week. This comes as Trump Administration is focused promoting tax cuts, all hands on deck, the president weighed in yesterday at the white house. We are going to take care of and have been taking care of the American Public and the american economy, working with companies and small companies, large companies, a lot of companies, so that they dont get penalized for something that is not their fault. Its not our countrys fault. This was something that we were thrown into and we will handle it and we have been handling it very well. Maria joining me right now texas congressman House Financial Services Committee Member Roger Williams and congressman, good to see you, thank you very much for joining us. Thank you, maria. Maria tell me about the payroll tax plan. The president will speak about it this morning when he goes to meet colleagues in the senate, do you think this would move the needle in terms of the stimulus to offset what is clearly a slowdown coming . Well, i think so. Ive always been a proponent of cutting payroll taxes. I think its important that right now focus, i would like to see focus on cutting payroll taxes to employer. Business is still very god and i think if you focus on the employer and tut the cut the payroll tax, the money can get to right hands, businesses can expand and hire and thats the right way fog they choose to do that. Maria we know that many colleagues are selfquarantining. Right. Well, im doing fine. I was at cpac and gave the opening speech that first morning and theyve confirmed that i didnt come in contact with the anyone or the person, so i feel great. I mean, im ready to get after today. Kelly congressman, kelly torrence, of course, democratic colleagues have a different idea on what to do to get the economy stimulated. They want to spend a lot of money. Seems to me its a little too early to decide on that but the democrats want to do something very quickly, whats your take . Well, it is way too early. Let me reinforce. The economy is good. Im a Small Business owner. Its as good as i have before seen. Ive been in business 20 years. I dont think we need to try to tweak something thats working. I think to start laying out, shoving more money in the economy. Im not for bailouts, we dont need that. The stock market will come back. Let the private sector begin, that confidence is good. I wouldnt overreact right now. Scott congressman, im scott martin, i like the payroll tax, however, its obviously on the assumption that businesses are going to stay in business and keep payrolls on the books, so is there anything that we could do for some of the Small Businesses that maybe at risk to make sure they stay in business so therefore they will benefit from a payroll tax cut . Well, i mean, we dont want to lose any Small Businesses. One of the best things for Small Business has going on is low Interest Rates. You are able to borrow lines of credit and the banks are still willing to do business with you. So i think if you keep your rates down which we are going to do and packs payroll tax not only employee but employer, that does a lot for confidence. The main thing we want businesses to hire people and keep payrolls and that sort of thing and thats what we can still do. This is not 2008. This is not 1998, this is not 1981. Ive been there. So i think if we force a problem down force an issue that we dont have a problem right now it could go the other direction. Congressman, its Dagen Mcdowell, you said no to bailouts but we like it or not are a bailout nation. We bet the airlines after 911 we just bailed out the farmer during trade fight with china and you have a number of Industries Including the airlines facing their biggest crisis in terms of revenue hit since terror attacks in 2001. We also have Energy Companies because of a price war started between russia and saudi arabia. We have hospitality and lea hour industriesy Leisure Industries and are you saying no to bailouts . I dont think we are there yet. Look, im a business person and if the government needs to step in and help to a certain extent, then we need to take a look at it but right now we just arent there and we may be there, i dont know, but right now we are not with low Interest Rates, with high employment, more jobs than people and the economy is very good. Dagen i forgot the bank bailout. That gave rise to the tea party. Maria good point. Kevin mccarthy says that you are looking at something surgical, what would you like to see in terms of helping one industry or another at this point in time when you see business coming to a halt in so many areas. Are you looking for a surgical plan . If youre going to talk surgically, you are looking at individual industries and i think you have to be wide open, you to take a look at this but, again, im just concerned about overreaction right now. We dont need to be afraid, we need to be aware of what can happen but individual industries are hurting. We know that. Take a look at that. See what the right tact is. Cut the payroll half to employer. Maria we will leave it there. We will be watching. Obviously a nervous time. Good to see you. Congressman Roger Williams. Thank you. Maria mayor pete headed for late night and making a buzz, weve got it when we come back. Own a rare piece of apple history. Items owned by steve jobs now on the block. Weve got them onset, back in a minute. While the world keeps fighting for your attention. Well keep building smarter suvs. To help keep you focused on the road ahead. And. The road beside. Did we mention the road ahead. With an available best in class. Epa estimated combined fuel economy and the technology to practically park itself. This is the reimagined 2020 ford escape. Maria oil is rebounding. Look at oil. Massive 20 plus percent selloff. 9. 93 higher. 34. 19 after steepest lost in nearly 30 years this with safe haven gold down this morning in hopes of stimulus in the form of tax cuts. As you can see gold prices up down rather 1 at 16. 58. Joining us right now futures Senior Market analyst phil flynn. What a day, phil, how does it look today . Phil looks a lot better than yesterday. Seems like the words from the Trump Administration about potential stimulus and anger at the irresponsibility from saudi arabia for starting this price war is really starting to have ramifications. In fact, overnight we heard reports from the department of energy who basically came out and said, hey, when we have state actors trying to manipulate the Global Energy markets this really emphasizes the wall of the United States as reliable supplier because what saudi arabia did and russia did over the weekend was not responsible. It was childish, it was novembers good for them, it was not good for the Global Economy and i think its time for the United States to stand up and say, hey, enough is enough, you know, enough of this market that manipulation. Scott scott martin. Im coming back home, buddy, today, get excited. See you tomorrow. In the meantime ive been checking out gas prices around the area of new york here given that we had the big selloff yesterday, its relatively fresh, i agree, but, yes, do you think that theres going to be a medium impact on prices that pumps gasoline thats sitting at the gas station needs to be worked on before they need to make adjustment in prices. I think you need to realize that people in new york dont drive anyway. Scott theres cars. Phil theyre all cabs. We are seeing triple a reporting that its going to fall and itll fall a lot further and normally that doesnt happen this time of year. This is the time of year we Start Building prices ahead of driving season so in a weird way this will give us a little bit of a shot of economic stimulus at least shortterm. Dagen looking at prices at least 35 a barrel in texas intermediate, its dagen, by the way, do you think small shell producers will need a bailout and come knocking . I think theres talk about it and the Trump Administration is looking at ways to help them out. Some producers deserve to go out of business because the way they ran their business. I hate to say that but thats the truth and others in trouble because of what saudi arabia did. I do think its on the table right now. Maria what do you think the cutoff point is, crude oil at 34 and change even with the rally not at the level that the shell producers need. Sixtyfivedollar a barrel that they are basing their business on that they have expectations in place and what does it going to mean in terms of rigs that they cancel . Right, right. If i gave you an average price, its 40, every shell base is different. Some need 60 to make money. Others because of debt load need higher. We are hearing from producers today that they are cutting capital spending, theyre stopping projects right now. Now ultimately thats bad in short run but in the long run itll probably, you know, squeeze supplies. Once we get past coronavirus and economic stimulus theyll but demand surge at some point and when that happens we want to make sure the u. S. Energy producer takes advantage of it and not saudi arabia, russia and opec which really caused a big hiccup in markets yesterday. Maria who is going to blink first, saudis or russians in your view . Right now i think its got to be saudi arabia. Listen, you know, prince bin salman acting total irrational right now and putting family in jail and letting them out. Hes under a lot of pressure at home but this was, you know, a very unprofessional, immature act and even though i think russia i think even russia is going to try to come back to the table, but, you know, unless they can get bin salman under control, you know, anything is possible at this point. Maria we will leave it there. Phil, good to see you, thank you, sir. Have a great day. Coming up super tuesday part 2, joe biden and Bernie Sanders going head to head in another round of primaries today, we are checking it out when we come back, 9 00 to 5 00 at age 75, dolly parton coming, wait till you hear this. Stay with us. Youre welcome. Were gonna need a bigger room. How you watch it does too. Tv just keeps getting better. This is xfinity x1. Featuring the Emmy Awardwinning voice remote. Streaming Services Without changing passwords and input. Live sports with realtime stats and scores. Access to the most 4k content. And your movies and shows to go. The best tv experience is the best tv value. Xfinity x1. Simple. Easy. Awesome. Xfinity. The future of awesome. Maria welcome back, time for morning buzz, mayor pete out of 2020 race and out of a job but getting a new gig later this week. He will be filling on the late night circuit guest hosting jimmy kimmel live, thats something to see, scott. Scott not too bad for exposure. He has big shoes to fill. This would have been great for his campaign if he would have done it when he was still having a campaign. Weigh didnt he get a gig to do something similar when he was still running for president . Maria continuing to get the name out there, i guess. Tom brady going hollywood but im not talking about la rams or chargers, nfl super star launching Production Company called 199 productions. Its named after his draft pick, kelly. Kelly i love that name. Kind of shows hes the guy is huge but still a little humble. Maria humble, do you think tom brady is humble . I would choose a lot of words. Kelly this is what the obamas did when they left the white house. The next stage that everybody in the future is going to have, a production deal once they quit their big job. Maria how about this . Dolly parton not slowing down at all. What an icon, shes looking to get back in Playboy Magazine to celebrate 75th birthday. Dagen not naked. I love dolly parton, shes the queen, she has always represented southern women so well. Theres a photo of me and dolly, pardon my fingernails. I look like a dug a grave in the backyard. Shes nice to everyone. She walks into a room and laser focused on treating everyone around her with kindness. Does not get better than dolly. I dont know if i can say this but i guaranty you she looks better naked than i do. [laughter] maria shes not planning on going playboy naked. You go, girl, i love it. Still ahead fedex driver to the rescue returns mans best friend back home. A lot more after this you need equipment thats up to the challenge. All day. All conditions. All year round. 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 do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on all we need is someone to lean on maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is tuesday, march 10th. Your top stories right now. Weve got a wall street whip saw underway. Futures pointing to a big rebound this morning. In fact, weve got the Dow Jones Industrial average up 1,073 points, thats 4 andahalf percent higher on the dow. Nasdaq up 379 points, almost 5 higher there. And the s p up 126, that is 4 andahalf percent higher on the standard and poors, complete opposite from what we saw yesterday at this time and by the close the dow, nasdaq and s p 500 had plummeted better than 7 in what became the biggest selloff since 2008. Coming very close to the first bear market in more than a decade. The dow industrials down 2,013 points yesterday, partly because of the price war between the saudis and russians. Saudi arabia and russia sent oil to a fouryear low after russia said it would not comply with any production cuts. This morning, oil is bouncing after that 20 plus percent selloff yesterday. The price of crude is up 9 , 2. 91 a barrel, 34, 04. Treasury yields are bouncing, take a look. We had historic lows yesterday. The 10 year yield is up 16 basis points, sitting at 0. 734 on the 10 year. Check the yield on the 30 year, that is bouncing, up 23 basis points. Supporting the economy and the threat of coronavirus, President Trump is floating the idea of a payroll tax cut now and help for affected industries, were going to take a closer look at what the president is proposing, hes going to talk about that this morning with Senate Republicans. Its a crucial day in the race for the democratic nomination, voters in six states headed to the polls including michigan in what is called mini super tuesday. Alex rodriguez may be getting back into baseball as a team owner. Well check out arods plans coming up. Investing in apple history, how you could own one of the first Apple Computers ever made and it is fully functional. Mornings with maria is live right now. Check Global Markets this morning, european markets are rallying, following the selloff on wall street yesterday. Take a look at the fq100, up 238 points, 4 hig higher. All the major averages up 4 in europe. Italy is boosting measures, suspending the need to pay Household Bills. In asia it was green across the board, best performer was shanghai, up 1. 82 . In japan, Prime Minister shinzo abe said his government will work with the bank of japan to stabilize markets. Expect more stimulus there. All that this morning, some of the other top stories were watching, chinese president xijinping has visited wuhan, he was there overnight. Of course, the open by center of the epicenter of the coronavirus outbreak. That was the first time we saw xijinping there since the crisis began. Italy extending the lockdown to the entire country, affecting 60 Million People in italy. The countrys Prime Minister is urging people to stay at home as thousand offs passengers aboard a cruise ship off of california are slowly leaving the ship. The grand Princess Docked at the port of oakland yesterday. Two dozen people who needed immediate medical care disembarked first. Delta and united will allow travelers to cancel or change flights in march and april without a hefty fee. Charges related to fare differences still apply. Jeopardy and wheel of fortune will tape without a crowd. The decision was made in part to ensure the health of alex trebek who is battling pa pancreatic cancer. Boston won the worst Traffic Congestion award for 2019. A study from a Research Firm said drivers in boston lost an average of 149 hours in traffic. Time is also money with residents forfeiting 2,205 in lost productivity. And finally, a fed ex driver making a very special delivery, this doorbell video shows the moment catcher, a golden retriever, escaped from her colorado home. Moments later, the driver pulls up with the dog and returns her safely home. The owner says she was out at the time and hopes to thank the man in person. Awe. I like it. It is mini super tuesday today. Former Vice President joe biden and vermont senator Bernie Sanders going head to head as six states vote today to choose a democratic nominee for president. More than 350 delegates are up for grabs today. Biden is headed todays election with a double digit lead in delegates. Joining me now is nevada senator kevin cramer. Sir, good to see you. Thanks very much for joining us. Good to be with you. My friends in north dakota would want me to correct the state. Its north dakota, not nevada. Maria my apologies, sir. Sitting right in front of me, that was a slipup. Let me ask you what your expectation for todays mini super tuesday. Yeah, my expectations, maria, that momentums a difficult thing to stop in most things and certainly in politics. That said, back in north dakota Bernie Sanders is i think likely to win. North dakotas a caucus state. He got twothirds of the vote in 2016 against Hillary Clinton. Theres very little democratic activism left in the state. What is left is very radical. He could very well have a win in north dakota. Seems to me that medicare for all is not playing well with the union crowd in michigan. Maria well, we wouldnt expect it to, senator, would we. Kelly Kelly Torrance here. What are you looking at in terms of what tonight turnout for example might mean come november . A lot of people are saying michigans going to have very good turnout for the democrats tonight and the democrats really of course want to take back michigan from President Trump. Well, theres no question. Michigan is sort of ground zero in terms of states in the general election and President Trump did barely win it last time. However, i think when you throw out the policy issues and have an honest debate head to head, whether its Bernie Sanders or joe biden versus donald trump, Donald Trumps got a very good message for michigan. He has delivered on the things he said he would deliver on. Hes definitely brought some manufacturing back to the midwest and michigan chief among them. His work on trade has been fantastic. So i think when it comes to blue collar michigan, donald trump has he has the message, he has the policies he gets to run on, not just talk about and thats an advantage. How do you think the latest stripstrife in the markets and n in some degree the economy is factoring into the messaging youre talking about with respect to democrats having a shot here if the economy continues to have an impact on the coronavirus. Theyve definitely been been cheerleading for a down economy for some time now. Theres not many happy people except for democratic acat this visitactivists. Last week, we hal report on jobs, a jobs report on february jobs. That same day the markets were down 1,000 points. For people in places like the midwest and particularly michigan, theyre looking at their own paychecks and their own job security and theyre going this is pretty good. Having said all of that, how the leadership deals with this and gets us through the coronavirus will have some impact on how people view the leadership to donald trump. To this point hes been very good. Until the Mainstream Media are cheerleading for disaster and trying to spin disaster and talked us into it, by and large i think hes done a fantastic job. Maria its not just the Mainstream Media, also nancy pelosi and Chuck Schumer. They are attacking this president daily, saying that he doesnt have the right leadership in the face of this, even though he made some serious decisions right out of the gate in terms of stopping all planes, stopping all travel from china to try to contain this. Yesterday, he talked about stimulus, markets of course are bouncing back this morning after the president said that his administration is considering a number of ways to boost the economy in the wake of hi this outbreak. Heres what he said. Watch this, sir. Were going to be meeting with House Republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief. Hourly wage earners getting help so that they can be in a position where theyre not going to ever miss a paycheck. Maria treasury secretary Steven Mnuchin and National Council of economic director larry kudlow meeting with Senate Republicans to discuss the Economic Impact of the coronavirus. What do you think, senator, can you get on board with this, can you get on board with doing away with the payroll tax, 15 , seven andahalf paid by workers for 90 days or possibly by year end, is that something you would agree to . Lets just say im open to persuasion. I would say this sounds like a safety net than it does a stimulus package. I think there are some things that were working on that id rather see us get behind like lets pass this big highway bill that came out of our environment and Public Works Committee unanimously and put people to work and have at the end of it an appropriate federal infrastructure that has as its primary purpose the profitability of the private sector. Lets accelerate the rebuilding of the military and get the Missile System uptodate and modernize a nuclear triad, some things that are the federal governments responsibility anyway and at the end of it we having to show for it. Im not against some sort of shortterm safety net. There could be disruption in workers ability to earn a living through all of this and we need to be sensitive to that. Borrowing money and throwing it out into the street for a spending package isnt my instincts, lets just say. Im open to persuasion. Dagen senator, its Dagen Mcdowell. One of the Critical Industries in your state is Oil Production. What are you hearing from those companies . Do they need financial assistance, a bailout, if you will, are you hearing that given the collapse in the cost of crude oil. I havent talked to a lot of people since yesterday. Yesterday was the big day and the big geopolitical news if you will. I think what they would prefer is obviously a higher price and i worry about this in the long run. Theres no question, youll almost certainly see some sort of tightening, youll see the value chain in Oil Production will be squeezed first by producers and then well see how producers themselves come out of it on the other side. At a time of demand decline having a glut is not healthy. But then having an oversupply strategy on the part of the russians and the saudis is devastating. I think weve got to have some geopolitical leadership here that brings all of this back into play. Because frankly, all of this other stuff is a sort of emotional but when it comes to commodities, supply and demand and fundamentals still matter in the long run and this looks like it could be a very long down cycle if something doesnt ham. Mariahappen. Maria youve seen lots of cycles like this before, what do you think about 33 a barrel oil, what does that do to the shale producers who have been so important with the Economic Growth story with all of the rigs out there. How significant are you expecting the rig pullback to be now that we are seeing this cut in oil . Maria, im afraid it will be quite significant. Again, depending on how long this lasts and how long its projected to last. We are seeing some wonderful cap ex numbers coming into this year. Theyre expecting well see some pullback in the shale play, especially north dakota where its fairly expensive anyway. North Dakota Producers get paid a discount as a result of sort of how landlocked we are and the lack of adequate transportation infrastructure. So i think it could be quite devastating. But im hopeful that this will be shortlived, im hopeful that Vladimir Putin and the saudis can come together and we can do something about this supply glut and just get that price back up. But to be honest, until it gets around 60, its a pretty tight squeeze in the oil patch. Maria do you think russia wants to kill the shale industry . Well, they probably would like that. Maybe russia would like donald trump to get a black eye as well. Who knows. But remember, theyre more dependent on it than we are. While we are very depen dependen oil and oil is good for our economy, were not a petro state. We have a more diverse economy. Thats been demonstrated through other down cycles in oil price. So were more likely to weather this than either of the other two countries that are arguing right now. So none of us should have to go through it or want to go through it but if we had to go through it were probably better positioned than they are. Maria its good to see you this morning. Thanks so much. Well be watching the developments. My pleasure. Thank you, maria. Maria much more ahead, including super tuesday part two, michigans economic strides are in focus with democratic candidates. The would men of wall street, who women of wall street, who tops the list of if most successful women in finance. Own a slice of apple history, we have rare items in the studio owned by steve jobs live on set. First, a twitter deal ensuring Ceo Jack Dorsey stays put, were taking a look at the deal with private equity. Transforming your financial life, damon john is here to help unlock your secrets to success. Back in a minute. Dont let him in. Youll kick him out again. Its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. With sliding rear seats. And more available second row legroom than say. A chevy suburban. This is the completely reimagined 2020 ford escape. Maria welcome back. Technology boards getting a new look, facebook adding two new directors, Estee Lauders chief financial officer, tracee travis. The facebook board now 40 female. And twitter another story going on there, activist Hedge Fund Elliott management making a deal to change up the companys board but Ceo Jack Dorsey is staying put. Twitter will appoint two new Board Members and make 2 billion in share repurchases. Theyre going to be making share repurchases, scott, and then broadly speaking saw an article in the journal about Companies Pulling back on buybacks but not at twitter. Its funny with the markets down, how you see buybacks come in. We like twitter, by the way. We talked about twitter a bit yesterday as they were working out some of their differences amongst elliott and dorsey and the gang. The world needs twitter. Twitter has been hot with donald trump doing this communicating there. Its in our portfolios and we like it here. Maria its amazing to me that youve got the leader of the free world using your platform multiple times a day and you still cant really monetize. How do you monetize . Theyve gotten better with it. Even when you use it, they dont do a great job of sorting things out. Maria it doesnt lend itself to advertising so where is the revenue coming from other than just i tell what you they should do, they should get a lesson from instagram. Instagram has been very effective selling people things. I like buying stuff off instagram. Maria i cant believe how great it is on insta the way they sell things. I agree with you. Its amazing. Its fun stuff to buy. Dagen its the nature of someones behavior on instagram, it lends itself because its photos and the way that you act on instagram as a user is wildly different than the way someone acts on twitter. I literally have been saying this for years and years in terms of on instagram i follow betting companies and Home Furnishings and clothing manufacturers and so they know what you like that your behavior indicates what you enjoy in the real world. But on twitter, its just politics and outrage. Like what are you selling me . Cheap shots. Dagen never mind. Go ahead. Kelly youre totally right, dagen. Instagram owned by facebook, they know a lot about you. The ads are very targeted. They know what you like. Im constantly getting, for example, since i moved to new york in december, im getting twitter ads for shirley mcclain, bill de blasios wife. Im not interested in this, im not buying it. Thats the ad i keep getting over and over again. Twitter doesnt understand me as well as instagram does. Maria thats why i like instagram because theres no hate. Theres so much hate on twitter. Dagen following President Trump doesnt tell twitter or the advertisers what kind of laundry detergent you use. Maria i will tell you that i posted on instagram all my shots from my moon last night, it was such an incredible moon. Check out my instagram at Maria Bartiromo. I just posted them. Coming up, super tuesday part two, polls starting to open, candidates focusing on michigans economy. Alex rodriguez swings back to a new york team, his thoughts on purchasing the team coming up. Back in a minute. Break it down. The allnew silverado hd adds to the legendary capability of the strongest, most advanced silverados ever. With best in class Camera Technology and larger, more functional beds than any competitor. The only truck that can compare to a silverado is another silverado. Truck month is the right time to get behind the wheel of the chevy silverado. 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Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. 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. 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. The state of the economy in the wolverine state. Michigan voters heading to the polls. Joe biden and Bernie Sanders are fighting for every vote in the key state. Sanders won the vote in 2016 narrowly and the economy has improved in the last three years. Gdp is up. Joining us right now is cranes Detroit Business senior editor, chad livin livinggood. Thanks for joining us. Give us a sense of the backdrop in michigan as voters go to the polls today. How would you characterize the economy . The economy has been steadily improving. Weve been on a long 10year streak of continued increase in auto sales, profits of the big three automakers. At the same time, per capita income is now down 14 under the national average. 20 years ago, michigan was 1 above the national average. So we have seen a stagnation in wages and thats really starting to show up in the economy and it is definitely showing up in Household Incomes and youre hearing a lot from the candidates about that, particularly Bernie Sanders, his message is really aiming at wage stagnation among the working class. Maria why do you think wages have taking nateed given the takinstagnated. Even the bottom earners are seeing the biggest rises. Whats happening in michigan. We are lagging in the nation in educational achievement. Other states that are moving forward have more and more adults that have bachelors degrees, or other post secondary credentials. We are lagging behind in that and youre seeing that in our workforce where companies with skills that need to be jobs that need to be filled are not getting those filled and theyre not having enough people in the workforce who have the qualified skills for that and that is starting to really affect the ability of people to move upwardly in the economy. Kelly chad, Kelly Torrance here. I was hearing that michigan is one of the few states in the midterms that saw an increase in youth turnout, really hard to get those people to come out as Bernie Sanders has been discovering. Any ideas on why that is . There was definitely a large motivation among women voters and young female voters to turn out in the midterm elections. They put women in charge of every statewide office, the governorship down to the attorney generals office. At the same time, in 2016 the president ial primary pollsters who got this race completely wrong, they had Hillary Clinton up by 20, 25 points, couple days out and then Bernie Sanders won by 1 andahalf percentage points. They greatly undersampled the young voters and they admitted as much after the fact and so i think theres going to be some caution to look in those samples. We saw yesterday in ann arbor, the Clerks Office was crowded with u of m students trying to vote in person. This primary is the first time that people can actually show up to the polls and register, same day registration and then vote on the spot. Thats a new law thats been changed from the 2018 election. And at the same time, we have a Record Number of people also who have already voted by mail, absentee, because we loosened our absentee ballot law so anybody can vote in advance by mail. You no longer have to have an excuse or be basically a Senior Citizen to vote by mail now. Maria you wrote an op ed, you wrote recently about why biden is betting on the 2009 auto bailout to help him win. Why do you think weve been debating bailouts all morning given the fact the president is talking about new stimulus in the face of the slowdown coming. Why do you think the 2009 bailout helps biden . It still resonates in michigan. The wounds of the Great Recession are still felt here. People have not forgotten it. Its been five election cycles of democrats using the auto bailout in some way, either against each other or against republican opponents, and youre seeing it just joe bidens surrogates from Governor Gretchen Whitmer to detroit mayor mike dug begangan that jon was uthere for us in 09. Maria great to have you. Thank you, sir. Coming up, transforming your financial life, damon john is here to unlock your secrets to success, help you do that. Then, let me take a selfie, we have a list of the highest paid social media influencers, wait until you see this. Were back in a minute. St own horses. You own a pasture. A barn. And hay. Lots of hay. You need a tractor built to get every job done right. The kubota l series tractors. 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. 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It was so easy, chet was in and out and got right on back to the life he loves. True car. Buy smarter. Drive happier. Maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is tuesday, march 10th. Your top stories right now, wall street whip saw, futures pointing to a big rally at the start of trading, we have a rebound of sorts underway. The dow was down 2,000 points yesterday. Its up 950 points right now. So its a partial rebound. The dow industrials up 4 , 950 points. The nasdaq is up 336 points this morning, 4 and a quarter percent, s p is up 111 points, that is about 4 there as well. This after a massive drumming yesterday, the dow, nay nasdaq d s s p plummeted more than 7 apiece. Worries about the price of oil collapsing, the coronavirus virus and economy uncertainty leads to selling. A price war between the saudis and russians sent oil to a four year low. The priceis ticking higher this morning. Saudi arabia said its going to boost production, boost production. They agreed to cut production with opec. Now its boosting production. Take a look at oil up 289, 9 higher. Treasury yields meanwhile bouncing back from historic lows yesterday. The 10 year yield is up 13 basis points at 0. 699 . Still very close to the bottom there. Global markets look like this, european indices are rallying, fq100 up 22 points, the cac in paris is up 162 points, 3 andahalf percent, tax index in germany dax index higher by just under 3 on the heels of the selloff yesterday. The eurozone economy grew slightly in the fourth quarter, gdp expanding onetenth of a percent. There is wide expectation we will see recession in europe coming. In asia overnight, green across the board. Take a look. Japanese Prime Minister shinzo abe said his government will work closely with the bank of japan to stabilize markets. There could be more stimulus coming from japan. The best performer overnight in asia was the shanghai composite, china up 1. 8 . Darden restaurants helping hourly employees during the coronavirus outbreak. Cheryl casone with those details now. Cheryl thats right, maria. The operator of olive garden and other popular restaurants said ill will provide sick leave for all employees that dont have insurance. Darden will credit them for time worked over the last 26 weeks. Apple says its safe to clean your iphone with disinfectant wipes now. For years, they had warned against it, saying the wipes could scratch the protective coating on the screen. Apple still not recommending customers use sprays or bleach it. The future of the new york mets could rest in the hands of a famous rival. New york yankee allstar Alex Rodriguez emerging as a popular buyer for the team. During an appearance on the tonight show, arod told fallon if the opportunity came up he would look at it. He says he was a huge mets fans while growing up. Finally, social media is Serious Business and can mean serious money with more than 164 million followers, kiley jenner could make more than 1 million bucks for one sponsored post according to hoppers 2019 instagram rich list. She is number one of the survey. The top five, pop ta star ariana grande. Carolina hacristiano ronaldo haf followers. Maria there is evidence people do the stuff they do and buy the stuff they like. Cheryl you click through, ive done that. Ive shopped on instagram. Its my new reality. Maria meanwhile, this. Tapping your true business potential. You may recognize my next guest as one of americas leadin leadg entrepreneurs and investors. Damon john is out with a new book, power shift, which he describes as tapping into your ability to build influence, negotiate things you need and want, to nurture your relationships to take you where you want to go. Joining us now is entrepreneur, author of power shift, transform any situation, close any deal and achieve any outcome, damon john is with us. Great to see you. Thank you for having me. Maria thank you for being your optimistic self and your inspiring self. How do we do all that, damon. Its really about the power to negotiate what you want in life. Thats the only people why people are successful or not successful, what they negotiated. A lot of people believe the powers they have is either issued to them by somebody, being taken away or being held back. Im here to give you permission to activate that power in your life. Maria how do we do it . Theres three steps. Everybody thinks negotiation is such a transactional thing. Its not. Its about building influence, about negotiating whats best interest for the person across the table and valuing that relationship afterwards and getting 10 deals after that or getting 10 recommendations. Maria make sure you put your best foot forward so you can get the deals down the road. Also. How do you build influence. If you run into an elevator with one of us, you have 90 seconds to pitch us. Thats not where the influence is built. Its when i go out of the elevator, look at my iphone and look at your history on social media or the internet and i realize maybe your husband or wife is taking pictures of you, theyre doing things i dont agree with, i may assume youre like that as well. If theyre doing things i love, i can say how can i get that person to work with me and give value to me and my employees. Dagen that persons social media presence, how do you know thats not gotten away from them. The whole world is looking at you, whether you have 100,000 followers on instagram or maybe a million, more people need to focus on that, what am i showing the rest of the world. You need to be in total control of it. I call the social media imprint, its like a skyline, i can see every building from afar and im making a judgment there. Due diligence starts when i hear your name, not when i meet you. Maria be the best person you can be because people are watching you at all times. Absolutely. Or be an honest person to who you are. People will gravitate towards that one way or another. But dont be transparent. Maria your book includes lessons from a number of successful people, number of successful entrepreneurs, kris jenner, pitbull, bethany frankel, and march cue mark cuban. What perspective did they bring . They all brought a different perspective, how they have been able to initiate the power trip throughout their lives. We were talking about how kiley jenner and kris and Kim Kardashian are extremely successful. Well, i worked with the kardashians in the first couple years and showed them how to do product integration on music videos. Kris jenner took it to a different level and started doing that on social media platforms. She repurposed what i did and took it to another level. I see it with other people. Other people in the book are more interesting than that for todays public because if you cant be the mark cubans or kris jenners, i have a young woman named crystal who works for me, shes a Virtual Assistant. When she had a child a couple years ago she went back to work, her child was a premie, she wanted to work half the time. She said im going to be a Virtual Assistant, im going to stay at home, im going to give damon 10 hours, another client 20 hours. I dont have to go out in the snow and wear a face mask. Im a Virtual Assistant and making just as much money staying at home. Kelly i find that really interesting. Theres doom and gloom about the coronavirus fears. I feel like there must be opportunity as well. What do you sunshine. 100 . People are realizing how to work from home. Theres Domestic Companies who are saying maybe i shouldnt leave all my eggs in one basket in china. Maybe i should start understanding how to manufacture here. Theres companies who are saying how do i get my employees to work at home and be successful with the new technology out there and be proficient, if i wasnt doing that before, i better do it now. Other companies are saying wait a minute, my customers down the block but i dont have their information because im a retailer, i better start getting my butt online because i need to sell directly to them because now everybody else is eating my lunch. Maria a lot of lessons there. Before you go, what gets in the way of peoples success . What do we need to know that actually keeps us back . Not understanding what you really want out of life and not understanding your why, why are you negotiating, why do you want a million dollars, why do you want to leave that job, why do you want to start a business . Because society told you should do it . Because your parents told you. Not knowing your why and then telling everybody your problems instead of trying out to fix your problems. 20 of people dont care about your problems, the other 80 are happy you have them. Maria dont give me the song and dance, just get it done. Great to see you. Thanks so much. So inspirational. Check out the book. Coming up, the white house response to coronavirus helping drive markets this morning. Were going to tell you what the president is planning and how investors are reacting. Plus, were looking at gold and oil. Gold is down this morning. Why, if people are looking for safety and oil is bouncing up 9 . Were going to check it out. Plus, this, made in america, one veteran creating items in the usa for all your beer needs. Stay with us. I want to tell the whole world. Hooray, im really glad youre here. Maria dont miss a minute of the action. Join the conversation from home. Follow us on instagram, at mornings at maria, watch some of your favorite segments again, go to our facebook page, mornings with maria. Send me your questions and comments directly to me on twitter at mornings maria at Maria Bartiromo. At fidelity, online u. S. Stocks 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 doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on all we need is someone to lean on maria welcome back. This is a hot story from ammunition to accessories, one veteran starting a multimillion Dollar Company from his garage. Bottle breacher turns bullets and grenades into bottle openers. The hand crafted products are made by active duty Service Members and veterans in the great usa. Joining me now is former navy seal, the ceo and founder, eli crane. Its great to have you. Thanks for having me. Maria congratulations to you for building this business. Why did you start the company . How has this transition been from military life to the Business World . Lets start there. First, i knew i wanted to get out of the navy and spend more time with my family. I asked my wife if she would help me start the business. We started it. I caught the entrepreneurial bug. I wanted to sink my teeth into something else. We started the business out of a one car garage and we were on shark tank two years later. Maria amazing. You bring such incredible treats from your time in the military as a navy seal. Discipline, strength, i mean, unity. I know all of the great reasons to hire a veteran. Youve had patriots head coach bill bel bill blelichek as cust. Maria tell us about your price points. These range between 20 and 40. We have freedom frags, great sellers, a dummy grow mai grenat can open your beer. Maria youve got to explain this. This is a dummy grenade that opens your beer. Its a bottle opener as well. If you look at the bottom, we machine a hole in it that fits around the cap of your beer and opens it up. Maria thats amazing. This is so cool. Tsa loves them, they love to confiscate them and give them to their families as gifts. Maria dont travel with this. This is like a wart hog would shoot. This is a real casing from an a a10 would shoot. These go from 20 to 40. Maria are you getting the casings to make the product . Great question. We buy them from government liquidation auctions, the military, they shoot them up and recycle them and sell them to guys like me. Maria that is awesome. What were you saying . We also have a new line of key chains right here that Just Launched this last year. Weve got the dont tread on me, thats really popular. In our demographic. Then weve got jewelry, some necklaces right here, these are 40 cal necklaces, 556 necklace that hasnt launched yet. Maria whats 556. This is the round that most troops shoot right here. This is what i would shoot in the Navy Seal Teams a lot of the time. We have some pens here, 50 cal pen and 30 caliber pen as well. Maria this is basically the military, the government will discard these things so instead theyre selling them. We recycle them, make them into a functional gift you can give to your dad, your brother, your husband, whatever. Maria that is fantastic. What are the plans for the company . Tell us the advice you might give to other veterans looking to enter the workforce. We want to keep creating Innovative New products that add value to our customer. We also Just Launched a new site that has a softer side. People can look that up. Sabinogifts. Com. The advice i would give veterans, dont isolate yourselves. Thats what a lot of veterans want to do. Make sure you find a new brotherhood when you get out, thats something that is really important. And i would also say that when youre getting out, make sure you try a couple different things, stats show youre probably not going to be in the same job you start out in. And theres just so many great things you can do out there. Dont go for a layup. Go big. You can do something awesome with your life. We like to encourage vets they dont have to go for a layup, they can do something awesome with their life. Maria when you think about the most important facet or most important thing you took away from your life as a navy seal, what is it . Mission. Dont make life about yourself. Youll never be happy if you make life about yourself. You always want to have a mission thats bigger than yourself and if vets learn to do that and if other people learn to do that, youll always be fulfilled. Maria such an important lesson. This says maria. We made you a special one, this is 50 cal bottle opener. Its got an American Flag on it, your name on the back. Maria thank you so much. This is fantastic. My own. Thank you. I love it. Awesome. Maria can i just say, thank you so much for your service to our great country. Thank you so much. Maria we owe our debt to you. Congratulations. Check out the company. Super tuesday part two, polls opening in six states, getting ready to vote. What you need to know coming back. The top women on wall street, we have the list of the most influential women in finance. Wait until you check out this. Back in a minute with that. All the riches, baby. What your love can bring. All the riches, baby. Theres smart and then theres street smart, like a hybrid with best in class epa estimated range of more than five hundred eighty two miles. And ford copilot 360 technology to help you outsmart some of the things youll encounter on the road. With more available second row leg room than a chevy suburban. This is the completely reimagined, street smart 2020 ford escape. This is the completely rwthats why xfinity hasu made taking your internetself. And tv with you a breeze. Really . Yup. You can transfer your Service Online in about a minute. You can do that . Yeah. And with twohour Service Appointment windows, its all on your schedule. Awesome. So while moving may still come with its share of headaches. No kidding. Were doing all we can to make moving simple, easy, awesome. Go to xfinity. Com moving to get started. Maria welcome back. Women taking on wall street, barons is out with the list of the top 100 most influential women in finance. Joining us now is senior writer, leslie norton. Thank you for joining us. What does somebody have to do to be considered for your list . They need to be accomplished, influential in their industry and in their company and probably influential in both those areas in years to come. Maria okay. So who are some of the women that really stood out to you . Some of the women that stood out, obviously we have the leaders like Abbey Johnson who is the ceo of fidelity and jennifer johnson, another unrelated johnson who is a ceo of franklin templeton. But we have some of the under the radar women who stood out to me were debbie devira who is the cfo of gm and the reason that she stood out was gm is squarely in the crosshairs of this coming slowdown but it also has this issue of stranded potential stranded assets with billions tied up in internal Combustion Engine plants. One of your frequent guests is nancy lazar, brilliant economist will have a lot more to hear about her as we sort of navigate the slowdown on wall street. Maria i think our viewers heard about her first on this program. I think maybe they did. Maria ive been talking about corner stone macro for many years, certainly nancy l lazar,i agree, shes fantastic. Two more people i want to mention, which are mindy luber of sir reec series which is a cy that encourages people to report about climate change. Goldman sachs has a big push to take Companies Public when they have one diverse board member. Maria did they talk about how hard it was to muscle through . I mean, dagen and i have been covering wall street for 25 years but i remember when i first got down there on the floor of the New York Stock Exchange, it was hard to have sharp elbows and make sure that i was heard in the face of all of these in a sea of suits. What did they say about that . 30 years ago one extremely prominent woman told me she was advised to take off her Engagement Ring because that would if she wore an Engagement Ring people wouldnt take her seriously in terms of her commitment to the company. Joyce chang, who is the head of Global Research for jp morgan said that when she started off as a young emerging markets analyst at salman brothers and had to meet with government officials, their faces fell when they saw her. Because they thought oh, my god, this young woman is a person that they assigned to speak to me. You know, obviously all that is changing and there are many more women now in the room than you would see a while back. Maria in fact, in 1995, that was the first year i started broadcasting from the floor of the New York Stock Exchange, 283,000 women got into finance and then the numbers started going up. 289,000 in 1996. 2001, 423,000 women in finance. Great list. Thanks for being here. Thanks for having me. Maria still ahead, futures are rallying this morning, big move after the disappointing monday. Whats driving nature get, coming up. 906 point rally out of the gate this morning. Plus, the census with the count, sesame street urging families to count folk next hour, morningsh maria. Stay with us. Infinite what ifs . And contingency plans. Creating funds that help target gaps in client portfolios. Tap untapped potential. And strengthen confidence in you. Flexshares. Powered by over a century of investment expertise before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. Joining us we are leap you are with us i am Maria Bartiromo, tuesday, march 10 top stories 8 00 a. M. On the button on the east coast, we got a little wall street whipsaw o going on this morning are to participants a 1,000point rally out of gate pretty good rebound after yesterdays 2000 point drubbing dow industrials up 921 look what happened yesterday dow, nasdaq s p 500 all plummeting better than 7 appease biggest selloff since 2008 very close to the first bear market in a decade saudi arabia increasing Oil Production to record high meanwhile, as price war between saudi arabia and russia sent oil prices plummeting yesterday to fouryear low this morning prices are bouncing up about 10 price of crude 3. 11 a barrel higher 34. 25 this stabilization is also one of the reasons for the a can of worms in terms of what it tells but the economy, with oil where it was where it is right now after that selloff treasury yields back from about historic lows 10year up 11 1 2 base points,. 684 , still rockbottom 10year yield 30 near rockbottom bounce this morning up 15 1 2 base points 1. 179 on 0year treasury yield, supporting the economy, amid threat of coronavirus President Trump is floating the idea avenue payroll tax cut, and help for affected industries going to meet with senators House Republicans, to talk about plans for stimulus a crucial do a in race for democratic nomination voters in six states had to polls including michigan, we will take you there live, and soul cycle at home how much hightech bike will cost plus investing in apple history oneown one of the first madu fully functional mornings with maria is live right now. Global markets this morning taking a cue from wall street better tone than yesterday certainly european indices higher cross, ft 100 off highs of the morning, but it is up 3 and a third percent 200 points higher ft 100 cac quarante in paris up 150 points better than 3 dax no germany, higher by 278 points 2 1 2 there as well following he selloff in all industries yesterday out of italy boosting measures to son of economic back of the coronavirus, italy as you spending need to pay Household Bills in asia overnight green across the board take a look japan announced fourbilliondollar coronavirus package focused on small mid sized firms to combat the Economic Impact, of this virus we are waiting fors stimulus out of japan getting it this morning, as you can see, best performer shanghai composite in china, up 1. 82 , stories watching this morning, american air lyles due do coronavirus the cut desks capacity more than 7 transpacific by 55 the stock this morning higher by better than 7 , as you can see. In premarket trading that stock up 1. 07 chinese president xi jinping visiting wuhan overnight that is epicenter of coronavirus outbreak first time he visiting wuhan since crisis began. Italy extending lockdown to the entire country, affecting 60 Million People, the country Prime Minister urging people stay at home banning all public garths as the country closes off borders, this as thousands of passengers aboard a cruise ship idled off california leaving the ship grabbed Princess Docked port of oakland two didded people needed immediate medical care disembarked first. Testing for coronavirus in new york city Staff Members reportedly held under a mandatory 14day quarantine being thoroughly cleaned steven cohen hedge fund. Setback, Consumer Financial protection third fist third employees opened deposit credit card accounts without customer approval to meet sales goals in lawsuit filed yesterday in illinois cfpb says the cincinnatibased company any it was going on didnt do enough to stop it bank called allegations unnecessary unwarned happening President Trump will award the president ial medal of freedom to retired army general jack keane a a friend of this Program White House says he devoted his life keeping america safe and strong led troops in vietnam awarded silver chair at pentagon 9 11 as leading firm at Army Many Years skies lighting up from you full moon, issue supermoon it was the full worm supermoon pictures that i took, of the mesmerizing sight watching the moon all night happens when moon orbit reaches the closest o point to earth while full nicknamed full worm because the ground is usually soft enough for earth worms to come out of the ground. I love moon pictures. Pollster opening more than 350 delegates up for grads minisuper tuesday Bernie Sanders joe biden making final pleas for voters overnight, jeff flock is plooif this morning in warren michigan good morning to you. Reporter Bush Memorial Library in michigan good morning to you, impress performance last night from Bernie Sanders on a fox news town hall, joe biden facing protesters at his rally first biden he was appearing with senators Kamala Harris cory booker in detroit, when some socalled bernie bros, protesters crashed the rally i guess you could say they disrupted it for about six minutes biden responded this is not a trump rally take a liven. That is all right let them go, it this is not a trump rally. Not a trump rally let them go. Let them go let them go. The bernie brosare here let them go. Folks let them go thats okay. Meanwhile, Bernie Sanders himself was appearing on fox news with anchors bret baier and Martha Mccallum answering from folks in the audience as well as anchors, er said when it comes to coronavirus President Trump with history of making misstatements, outright lies and not believing in science is not the man for the job right now declined to criticize joe biden when asked about joe bidens potential Mental Fitness he did say they are different candidates, listen. Voted for the war in iraq i led option joe voted for wall street bailout i voted against joe on the floor of the program cutting about need to cut Social Security programs i led opposition to those cuts. Hey, are a wet morning so far in michigan, maria but supposed to clear up may be, sanders that big turn outline he wants, wants to quinn. Jeff flock with me scott martsin Dagen Mcdowell Kelly Torrance a couple important groups in michigan, obviously, in all six states that both want to get to women progressively women black vote youth. Youth a, yes. Talked about in previous hour maria about the kids from University Michigan lining up in ann arbor, so that is going to be really interesting youve got washington a coronavirus state, in cases, very juxtaposed with youth vote in michigan how they pan out wrptdz to how they go for candidacy. Union vote, about barack got 68 union vote in michigan 2012 Hillary Clinton only got 57 , President Donald Trump made huge inroads, with Union Workers i think one reason that big Union Population joe biden has done so well they Like Health Care plans do not want to see them gone. Maria good point. Dagen one thing larry sabato runs University Center for politics, miles coman wrote employ sanders how danger signs abound for sanders in michigan elsewhere, so Bernie Sanders won michigan 2061 2016 most shocking win during 2016 broad strength outside of a few urban areas significant black communities African American where sanders dominates but they right to some extent sanders support in the state seemed like something of a protest vote against Hillary Clinton his primary upset was powered by martyrs in rural parts of the state then sanders where an especially well in michigan suburbs i point out super tuesday joe biden won urban voters he won upscale middle class intarn voters and rural voters. So his coalition that he built on super tuesday could hand him a solid victory in michigan. Maria i mean you cant. Dagen there is no Hillary Clinton. We dont know what this means for general election right . Because President Trump has been really gaining with African American Community Women as well a problem for the a long time. Dagen President Trump won pennsylvania michigan, and wisconsin, by a combined total. Of less than 78,000 votes if you flip that 4. 4 million obama voters in 2012 did not vote 2016 more than half people of color black, latino voters what the Democratic Campaign will be focused on. Maria a big night we take a break when we come back markets rallying this morning looking at big rally start of trading this morning after a really disappointing monday, dow industrials off the highs of the morning, but, nonetheless, up 819 points right now 3 1 2 , we take a break whether we come back counting with the count, sesame street urging he families fill outps census forms next hour with mornings with maria back in a minute. Can we go get some ice cream . Alright, we gotta stop here first. 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Com futures pointing to pretty good rally start of trading yeah pretty good 867 points, compared to what happened yesterday the dow on track to claw back almost half of yesterdays sharp declines, was better than 2000 points lower on the dow, joining us right now Cfra Research chief investment van starjt sam stovall always greelt to see you we want you want to talk about reaction what is going on is a reaction to economic story the impact of coronavirus on the economy, is expected to see a sharp slowdown in growth, you are great with fundamental backdrop in terms of the economy tell us where we are. Well i agree with you that basically, first off i think that consumers are reacting the way new parents are to their first child getting a cold. You know just freaking out about it. Maria we are overreacting you are saying. Over reacting the thought is that is not something that you can really control, is to, concerns right now are how we earnings get right now expectancies 4. 8 gain 2020 questions are maybe we get no growth whatsoever. At the same time, would it probably bring down Investor Confidence and, therefore, the p e multiple that goes with those earnings, as a result would i tend to say that we probably in some ways have to go back retest lows from 2018. Maria it is all about expectations, right . So i mean you say we have to justify a acting like parents with kids first cold, what once the market has a clear expectation, of what this might mean, just change behavior we will get through it, i mean i have been saying on air number of times, we are going to see tens of thousands of cases leading to hundreds of thousands of cases coronavirus in america. Not a death sentence some people will die other people will just it will flow through you you will get used to it adapt your life to it we havent that yesterday. Personal hygiene not a bad thing intensifying increasing that would be very good servers consumers need to figure out where is bottom where can things advance that they can feel less worried actually be willing to go out once again. With that stayed sam do you think there is significant change in supply chain mkt after we get through this given we relied so much on china to be good actor produce buy from us now the big interruption they have to created. Absolutely diversification in terms of country you dont worry with borders being shut down you can get supplies that much more quickly, from a local supplier. Dagen yesterday we saw a credit issue, where you have had scott minor from Guggenheim Partners the financial contagion spreading rapidly into credit issue markets not only energy bonds but other sectors airlines lomgdz retail because of Stephanie Pomboy years ago pointing out corporate debt either exploded post crisis at record 9. 910 trillion dollars a record broken absolute terms relative to gdp, he writes prospect of a crisis at maturity a borrow with maturing debt finds it impossible do roll debt over to pay off is a very real prospect for Companies Even that are solvent that is why the market basically came unglued yesterday. That is a good point, because when you first look at Lower Oil Prices you say to yoirz the rule of thumb that every 10 there are a decrease he increases gdp by 25 basis points but when you look underneath the covers you say wait a minute where is most of this global debt, being found . It is basically in if Energy Related companies, Energy Related bonds et cetera, Irving Fisher great economist 1929 said we have permanent plateau prices before the market crashed actually said in mid 30s the reason we had so Many Companies go under is because of a amount of debt that they had to service, they couldnt cut prices quickly enough in order to increase the volume to service them. Maria now we see how important that is dagen is invite Stephanie Pomboy has been adamant about one issue Corporate America so leveraged going to be a problem what we are seeing now robert cal lan dallas Federal Reserve said same thing said bingo you have been saying this a couple years good to see you. Thank you so much sam stovall joining us Trump Administration response to coronavirus who with an capitol hill is selfquarantining himself. That is coming up apple history get hands on early macintosh computer owned by steve jobs. Were back in a minute. After the bell is when it all happens. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on all we need is someone to lean on i believe at tecovas,hould focus othats handcrafted, highquality western boots at a fair price. Because netsuite shows me all my financials in one place, we stay focused on what we do best. announcer with netsuite by oracle, you get a full picture of your business. Finance, inventory, hr, customers, and more. Its everything you need to grow, all in one place. Netsuite is the worlds number one Cloud Business system. Schedule your free product tour right now at netsuite. Com boots 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. I doni kept putting it off. Screened a long time ago. What was i thinking . Ok, mr. Jones. Were all done. I told you it was easy. At life line screening, we use Ultrasound Technology to help check your risk for stroke and heart disease. After all, 4 out of 5 stroke victims receive no warning. Right now, a package of five painless screenings. Is just 149. So, call today. Life line screening. The power of prevention. Welcome back, Trump Administration focusing on payroll tax cuts for American Workers to combat economic effect of coronavirus, blake burman live at white house this morning with more on strategy blake the president is going to be meeting with republicans today on this. Reporter at least Administration Meeting with republicans on hill today maria, the president mote here yesterday at the white house, with Economic Team late in the afternoon and then after that took to white house brooefg room to announce what Economic Relief as relates total coronavirus could potentially look like the president did not put forth any sort of layer of detail but did talk up the possibility of a pay tax cut. The senate going to be meeting with House Republicans mitch mcconnell, everybody. And discussing, a possible payroll tax cut or relief substantial relief very substantial relief a big number. Reporter treasury secretary mnuchin top economic adviser larry kudlow headed to capitol hill today to discuss this possibility, with republicans. Chuck schumer and nancy pelosi said last night that they are not expecting to meet with mnuchin and kudlow instead top two democrats say they are focused on items like testing, paid medical leave and food security. You i mean to people not so much looking at the long run macroeconomic picture, which will be important but if you dont solve this problem macroeconomic picture will get worse and worse. Are you saying you would not support a tax cut. We told you what we would support that is what we are focused on. Maria now. Reporter president mnuchin laid out potential stimulus measures bradley mentioning Small Business loans through Small Business agency paid leave for those sick kairlg for those miebt affect from corn keeth deferred tax payments for companies and help for sairl cruise Hotel Industries the president yesterday said there would be a press Conference Today after those meetings up on the hill when you look at president positioning official schedule, no press conference mentioned, and when you talk about the possibility of a payroll tax cut tax policy originates in the house of representatives you heard schumer and pelosi there say that they are focused on other items. Maria thank you blake, blake burman at the White House Joining us right now mo congresswoman House Armed Services member vicki, thank you so much for many here. Thanks for having me. What is most important right now . Is it more important to ensure that a we have a handle on coronavirus in terms of Testing Health care issues . Or are we to focus on an economic package to son soften blow. I think you can do both the president has been proactive going after the coronavirus put all handson deck with that, assigned Vice President pence to take important leading role Congress Passed large financial package last week already going out to help ensure that we have more vaccine developed make sure there is treatments make sure the local officials have the funding that they need i think also wise to look at potential Economic Impact, and if there is steps that will be needed at this point i am not sure if those are needed right now. But smart to look at the possibilities the options that maybe available. Kel unify torrance here i wanted to ask you about a by many sponsoring would reduce dependence on china at least medicines for military i think should be wider i i know you are focused on military may be you could tell us about this. Absolutely as member of Armed Services academy we have been focused on looking at threats from china for a long time. And recently, we have discovered depends on china for all our medicines ourvenes our antibiotics for men and women in uniform as well as medical supplies we are now aware of Agency Nation whether face masks sir ringes pill bottles name it not a good place to be in when you have a a peer competitor supplying your soldiers with medicine they need, my bill, along with John Garamendi from california we require department of defense to do an analysis of the threats the vulnerabilities and use defendants production act to stand up American Companies to provide very important pharmaceutical supplies to military, by doing that that will also help the American Public, in general, as we bring back, the production back to america, making our very important medicines. Congresswoman good to see you. Thanks for stopping by please come back soon. All right. Thank you. We so appreciate it we will see you soon up next super tuesday part two, on deck, stay with us. Its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. With sliding rear seats. And more available second row legroom than say. A chevy suburban. This is the completely reimagined 2020 ford escape. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk maria welcome back an hour away from the opening bell wall street looking at pretty good gain start of trading that morning dow industrials up 740 points off highs Deirdre Bolton on the floor of the New York Stock Exchange looking at whiplash. Yeah, whiplash especially after yesterdays session maria green on screens as i mentioned but as futures off highs of the morning i want to health a few things that traders here are talking about, already, ahead of the start of the trading day, President Trump we know expected to meet with some of his advisors 5 30, traders talking about maybe there will be some form of stimulus that comes through we know at least on the table, for discussion a meeting about a payroll tax cut one boeblt none has possibility non confirmed yet perhaps these short Term Extension of sick leave. Watching Airlines Cruise operators hotels arguably have been three of the groups hit hardest by coronavirus outbreak, so all of these sectors need support unclear if support at all if they come through what form the conversation on the floor premarket here today, want to make a quick note rather on delta as part that have airline scene announcing this morning that it is cutting capacity says liquidity is fine long story short i want to give more detail on capacity cuts for international cutting capacity by 20 to 25 , are the domestic flights 10 to 15 not a huge surprise i have been speaking with people traveling for work they say they feel like getting airplanes to themselves, when they are traveling so not huge surprise delta is going to cut down along with some other airliner companies, on those flights doesnt make sense to run them if three passengers, dicks likely stand out in todays session exceeding earnings expectations you have them moving higher premarket, additional announcement from the company it is pulling its hunting deer lines. We will talk later, meanwhile, this several conservative leaders calling for a censure of Senate Minority leader Chuck Schumer Cheryl Casone with details. Cheryl that is right, maria. Schumer under fire allegedly threatening Supreme Court justices roberts and kavanaugh. Rooeg adviser ed rollins, Jeff Landry Charlie kirk signed open letter said schumers remarks inappropriately and dangerous. Cvs waiving prescription Home Delivery fees to help patients who need to stay home aetna will waive early on 30 day prescriptions for those were are pharmaceutical benefits through cva caremark cdc warning Older Americans with weakened commune systems stay side soul cycle looking to make peloton feel burn releasing longawaited home fitness like 2500 dollars friday also offering 40 streaming Service Includes finances classes from soulcycle, equinox all the same company, a pillar sesame street character helping to desperated the word about census, being counted. Oh, the census my favorite time of the decade. This is what is that . Special time when we count each person in every home, in all the neighborhoods cross the country. Cheryl this another psa starting to count, issue airing earlier this week in english and spanish according to researchers chip under 5 most under counted age group last census we do this every 10 years. Maria i thank you so much 2020 voters in six states headed to polls will 352 delegates for grabs could potentially decide democratic nominee for president joining us former economic adviser to president obama 32 advisers ceo Fox News Contributor robert wolf great to see you how importanti is if are Prime Ministers how is important today in terms of who is nominee. Incredibly support will so jo mo mentum, winning missouri Washington State possibly to bernie it is clear to me going to be the nominee i think going to be a trump biden matchup i think, you know strap it in i think going to be some interesting six monthss. Strap it in look we got to get your take what is talked about in washington so president wants to do away with payroll tax, for 90 days possibly until end of the year, 15 tax, 7 1 2 paid by workers, going to be a hundred billion dollars a month do you like it . Here is what i like, i like that last night the president came out and exude confidence i have been critical on him, on the coronavirus you know policies, number two i like the idea of a stimulus plan was very clear, yesterday on fox. This is not like lehman crisis i was one of the executives there when i was running ubs this is more like post not about clitdz leverage it is stimulating certain sectors that are being hit by very oneoff situation, i like the idea that he is talking about hotels, travel leisure, all the things that are really being hit, i also like the idea that he talked about Small Business loans i think Energy Companies are going to need those type of loans, especially middle and smaller enterprises. I love idea of a paid leave. Making sure. I am nervous about a payroll tax for two reasons usually i would be supportive that have but this instance the reason i am not two reasons one i dont think it you will get passed number two i think it trickles out you get a payroll tax over you know each paycheck every two weeks. And i think that it is just not going to do anything to stimulate i am much more i know weve argued about this pikeing winners so be it sometimes you got to pick winners and losers we have to help sectors that got hurt by oneoff situation not caused by us it was caused by china i think the president has to do things he did last night exude confidence i think that is letting dr. Fauci speak most staying off twitter has to get congress to make sure they approve certain stimulus those that will be very tw tactical you and i spoke about this 25 plus years. Maria yep. This is where congress will actually support certain tactical surplus i dont think you are going to get a payroll tax approved. Isnt it too soon to know what is needed what my be needed you are talking targeted measures this started we dont know how long going on maybe it will fizzle out quickly maybe wont. Maria airlines are here is not too soon, i think it is high possibility we are going into a recession the second half of the year. That doesnt mean that our country is in a recession because of the policies we are in a recession because china is in a recession italy in recession pan europe is going to be in recession we are a global country Global Economy so we also are going to be het by that we cant just duck dodge hide there is not a motor on United States i think because of that you have to do things quickly, and you dont wait. You know if you look at Prediction Markets talking about 65 recession. I am not one of those that is hoping for a recession for an election i never hope for recession but i think you have to be ahead of it you dont wait for it. Dagen President Trump is already getting criticism, about oh look the Hotel Industry of course, he is going to bailout leisure hospitality, you say it is warranted these Industries Energy because of collapse in prices in war between over prize between russia, Saudi Arabia Hotels airlines other leisure countries. When i met with bush 43 met with obama, it did not make a difference what politics we were on, this is about to let different i dont give i wont say it i dont give a. Dagen rather. A rather about whether he owns a hotel or not we should look at a three industries that are being hit, we also have to look at energy the energy, we are getting hammered right now you know my spruce are a bit of a conspiracy theorist i never 578 but russia china thing. That is what i said yesterday he lets not kid ourselves china hurting lowering oil prices largest importer in world 5 imports going to buy out of 5 discount, it helps them it helps russia it hurts us hurts Us Industrial america shale and from being aing hurts us in texas. Maria russia wants to shut down shale industry. My opinion is we have to protect our own castle so we have to do these things we have to do it quickly, i disagree with the payroll tax that is going to be a political dagen gigantic. It is not happening, 4 gdp, but on oil issue, this is also a National Security issue, certainly we i highlighted here. What he talked about it talked about when oil high low it is project finance based projects finance for the most part defaulted now we are in a situation at remember during 2007 crisis, 2008 financial crisis when america was on its to mes this is in treasury secretary the treasury secretary book at the time, actually pch. The book. Paulsons book. Hank paulson treasury secretary wrote a book wrote at that time china was talking to russia to come up with ways to just kill america. They were on knees, russia putin calls head of china says lets startle selling some of the securities is that we with own now bonds now will really turn them on their you know while on knees what russia is trying to do again coming at us with this were not going to cut production, creating this you know, constant huge selloff in oil right at the time coronavirus hit. To me theres two different lanes we have to focus on, the coronavirus obviously, getting tested make sure doesnt spread so on, so forth but those things being hit by that one thing. Then you have Energy Aspect those we have to stay Energy Independent i may disagree with President Trump we should have all in Energy Process i believe in renewables things like that. That being said today politics aside we should be able to do lending to these middle enterprises, i am glad with banks nothing to do with wall street. Going to talk to banks form wall street ceos what would you have said if you were one of those ceos going to white house when where you think ubs when you see Interest Rates where they are . What kind of impact is this going to have on banks Interest Rates . 5 10 of a percent 10ier. Lets be clear banks are going to be hurt they are not the trt marginaliinterest margi decimated not about banking issue banks incredibly strong delevered from 35 to 45 times down to 15 robbery of capital they have plenty not a banking issue at all i mean you know they are going to have cutting more about a week. I dont think this is about the fed at all i mean i said ten days ago on twitter, usually i get trolled. I agree with you. This is not a this is not a. You think should cut. I dont think it makes a difference no one changing habitats whether rights zero or 50 base points we need to make sure we are taking care of the industries to regain confidence, we have no idea when industries are going to come back lets take care of them American Industries make sure we protect ourselves i think you have to go in my opinion if i was sittinging with president i no larry kudlow very well would i be sitting down would i move away from worrying about stock market, stock markets come up right into i think democrats republicans have to get onboard, we cant ignore what is happening. Maria robert always great to get your insited thank you so much robert wolf joins us to studio b Varney Company host Stuart Varney proposing for show top of the hour going to be a different open today stu. Very true, about up 600 points tie after 2 drub we will definitely take it i think this is bernies last stand by the way, primaries today in particular michigan bernie has to win, i dont think he does win i think he losses badly. That is going to be a real problem for democrats because they will be left with joe biden. For whom there is little enthusiasm. And who makes constant gaffes bernie did it to himself, politics have been exposed lunatic Green New Deal crazy tax hikes no idea what to do with economy Going Forward that is really weak but i think he is out of the picture after today, probably good news for investors, at least they dont have to worry about a socialist in the white house any longer democrats badly split geared towards a guy 77yearold unfocused gaffe prone i think delayings going to be a good day for President Trump and republicans frankly. Maria we will see i know a lot top of the hour see you then, steward and Varney Company begins 10 minutes time dont miss it first markets pointed to go tripledigit gain start of trading although we are off the highs of the morning counting down to opening bell when we come right back doss dow industrials up 630 points. A slice of history get an early macintosh computer that actually still works perfect weve got it here on set. Stay with us. Ch. All these projects to do. You need a tractor that can do it all right. You need the 1 selling subcompact tractor in the u. S. The versatile kubota bx series. Sure, principal is a fibut think of us as a protect your family as it grows company. A put enough away for college company. And a take care of your employees company. Were a help you ride the ups and downs of the market company. And when its time to retire, were a weve been guiding you toward this all along company. Think of us as all these companies, and more. Principal. Retirement. 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Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Maria it will be an eye auction to remember a collection of apple memorabilia including items signed by late apple cofounder ceo steve jobs headed to Auction Block some right here on set joining me right now Bobby Livingston most era up for grabs fully in connectional apple icomputer this is first one. Computer started revolution only the Circuit Board you couldnt get the they didnt sell monitor or keyboard, made by wozniak, the team, it is a granddaddy works, this was restored by our expert, corey conan rated 8. 0 there is only 60 to 0 of these known to exist. How much do you think this will fefp last one 3 5,000 sold as much as 900,000 hopeful somewhere, somewhere in that we will see that. This computer lets go in order you wanting to in tell me. Sure we have. Original 1938 Apple Macintosh 12 00 computer special plaque. Con signed by arizona of the machine famous i con i think. I got to remember those when i was a kid i swear to god. Looked great modern designed by jerry manic, this w presented to him by apple this one so much more valuable in Great Condition for around 1500, 2000 dollars can go a lot more because of this plaque his importance to apple history. On block apple two contract signed by steve jobs . Really important hired jerry to design cases for apple so into design wanted things to look great, like in kitchen, computers were clunky steve jobs was subscriptionry hires jerry for 1800 to design this is contract signed in full steven jobs, typically signed it steve jerry got the deposit. The patent of the original macintosh how important jerry was he and steve jobs, received the patent for design of this computer it is a major piece represents history of apple. Very cool i know a Great Success thanks for bringing it all in Bobby Livingstone, quick break a big gain start of trading after massive he slow selloff yesterday the tables are turning i am answering your questions social media submit through Instagram Twitter feed let us know what you want to hear iance questions on friday, back in a minute. Under my feet i feel the sky coming down come running down i earth move. Maria stocks are set to bounce after yesterdays massive selloff, futures of 777 points, nasdaq up 278, Interest Rates and rockbottom levels but there is a bounce there as well. I think the rally will hold because he we are seeing a moving Interest Rates. Something that happened in previous rallies, rates of not reacted largely and we are seeing levitation in rates. That will happen if these rallies are sustained and we will see today. Dagen look at the 10 year yield, that rate almost doubled overnight. It was below 4 24 hours ago. It is the fiscal stimulus, the idea of it from the United States, we get more from japan and europe is working on it. We expect something in terms of liquidity and the financial markets, fixed income and a world where people can take on some risks. Maria what will end this . What will end this carnage of global coordinated effort to come up with stimulus, one reason the president is talking about a payroll cut. He is meeting with republican senators. I think it is a great idea. Some people want more targeting but other businesses decide, Service Industries are going to be hit. A payroll tax encourages employers to keep people on. Dagen you have to have the House Democrats work on that. Things are going to slow considerably. This data too. Have a great day. Varney and company now. Stuart later today, a package of measures to make those businesses and individuals by the virus. Sidelined hourly workers, cutting Social Security or medicare contributions, the president wants to help those who have been hurt through no fault of their own. Stimulates, helping the market, dramatic drop monday, Tuesday Morning we are retracing some of the lost ground. That will be up 800, down 2000, back 800 at the bell