Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

Transcripts For FBC Mornings With Maria Bartiromo 20240712

President. The man introducing biden tonight senator chris coons is live. President trump steering people away from goodyear tires after Company Tells employees say they cannot wear may gear that says make America Great again. Apple First Company to be worth 2 trillion. We take a look at run and how much further it can go with the stock split just around the corner. Markets this morning under pressure, take a look at future at start of trading, dow futures now down 111 points, nasdaq futures 22 and s p lower by 2 and a quarter. Markets retreated as well after warning plenty uncertainty due to coronavirus pandemic saying the government needs to provide Additional Support. Another night of violence in portland to report, police declaring a riot as government building is attacked once again. Coming up at 7 30 a. M. Eastern new york city former mayor giuliani is here to make the streets of americas big cities safe again. The impact of Joe Bidenkamala harris can have an justice in america. The rise in crimes feels a boom in protective gear, mornings with maria is live right now. Lets check Global Markets here. Weve got european indices down across the board. Spike in coronavirus cases and Federal Reserve down beats out. This after President Trump postponed last week scheduled talks due to communist countrys handling of the coronavirus. Somesome of the top stories thae are watching this morning. Kamala harris makes hisry at night 3 of the democratic makes history at night 3 of the democratic nomination. Its not about joe or me, its about you and its about us. In this election, we have a chance to change the course of history. Were maria harris, first woman of color to accept the Vice President ial nomination. Her speech follows scathing comments from former president barack obama who says the fate of the country is in this election. He never did, no interest in treating the presidency as anything but one more reality show that he can use to get the attention he craves. Donald trump hasnt grown into the job because he cant. Maria joe biden will formally accept nomination for president tonight in the final night of the dnc. Steer clear boycott goodyear reacting to telling employees not to wear maga to work. Goodyear say policies have been mischaracterized. Goodyear took a hit this morning back up at 953. The only nascar cup series driver with a trump 2020 detail on his car will sell goodyear tires. The company is the official tire of nascar. Mission reportedly to pay 1 million of flint crisis. An official announcement is expected later this week coming out of flint. New wild fires forcing more evacuations in california this morning. Thousands are fleeing their homes in the San Francisco bay area and and historically lighting siege, the fires burning as the state deals with recordbreaking heat as well. Meanwhile a pilot who is helping battle the wild fires was killed yesterday morning when his chopper crashed in fresno county. Well, dipping back into bear markets, futures pointing to lower opening this morning. Federal reserve announced yesterday in its july minutes that the Economic Uncertainty is, quote, very elevated due to coronavirus and the lack of fiscal action, joining me right now mahoney asset ceo ken mahoney, steve forbes along with mark tepper. Great to see everybody this morning. Ken, let me kick it off with you. No stimulus in sight. What kind of impact does this have on markets . You heard what the fed says yesterday. Ken the fed saying that unevenness and so forth. When the fed says it theres a lot more bite to it than when we say it. And the stimulus package, i do think something will come out. The two sides and the fed said, we have uncertainties in the economy and that also means we have the fed put in place, powell put in place and safety net if things get wobbly again, Federal Reserve will double up and quadruple efforts and thats how i take the minutes from a month ago. Maria look at the yield and 10year, so close to to 0 interest rate. Not a lot of alternatives here in terms of allocating capital even with that uncertain backdrop, ken, do you still want to own stocks . Ken as long as stocks stay 250moving average, not to get so technical on you, nice gentle truck going up, we may have to pay for this down the road but we do have a fomo, fear of missing out. You have the managers that are behind the 8 ball and they need to get on it and jump on stocks to not be far away from averages. Maria yeah, great point. Mark tepper, jump in. Mark ken when it comes to fomo we already recovered from the crisis in six months and personally im just having trouble with the map, the street is expecting 164 for earnings next year and you apply generous multiple to 20 and that gets us 3300 at year end, how much can fomo continue to help us . Ken to your point, we will have some kind of correction. You have that fomo as i mentioned and you mentioned out helping out but at the at the ef the day we have alternatives. We know markets can stretch, we saw march how quickly it help, markets get stretched and downside and we see how quick i will say stretch to the upside. Its never happy medium. Its overheating or falling apart like it did in march. Theres no happy medium. Maria speaking of parabolic, apple, company to reach 2 trilliondollar milestone before decline. Now we are looking at a stock split coming soon. Would you putting new money to work here . Look, if still hold it long. I do think it will get more exciting. We heard tesla will do a split. Maybe amazon will do a split. For those, people, again, you always want to buy round and commissions were high, it doesnt make much of a difference. Psychology wise, you may get more retail interest when stocks like apple and tesla do a split. Maria yeah, steve forbes, what do you make of all of this . What is it going to take for this market to take a breather here even in the face of the stalemate in washington, steve . Markets keep going up. We are expecting a decline this morning, of course. Whats your take and whats most important here this morning, steve . Steve well, just listen to democrat convention. If anyone had any doubts that this party is going socialist you were disabused on that monday might. Ken, when is the market going to fully factor in the fact that democrats might win and despite all happy talk that the fed might do, the bottom line is its going to damage the economy, you will not get 164, you will have fullblown recession. 40 Capital Gains tax, why isnt the market factors in that more . Maria ken, right point, what do markets think . Ken assume we sleep on november 3rd that we may not have the president next morning. It would be like year 2000, steve thats what keeps us up at night and the blue wave and no check and balances. We see the type of bills they put out. 3 trillion, pay down debt from 20 years ago. At the end of the day you have Something Like a treasury secretary warren, that would be pretty scary and go to the left and not to the middle, thats obviously very scary. Im not sure why the market hasnt factored that in, steve, but my guess after labor day thats when its going to get real and i do think on november 4th, we may not have a declared winner. Maria so at this point, you think markets still think that trump takes it . I mean, because if they thought if markets thought that the policies were going to do much different after the election, i agree, with steve, markets would be trading down . Ken right, maybe check and balance and republicans hold onto senate and obama started with the check and balance and you cant get through heavy legislation with the senate. Thats republican. Maybe thats kind of the fail safe that the market is thinking about and maybe it does flip to biden but you have the senate squeaking out victories being 5149 and have checks and balances so you dont get huge legislative social agendas coming through. Maria well, we will see about that. Ken, i know that you will be watching closely and we will talk with you soon over the course of the next 75 days, thank you so much, ken. Thank you. Maria ken mahoney joining us. Time for morning mover intel ahead of opening, 10 billiondollar accelerated stock buyback, has stock better up 4 . Ceo swaan says the stock is cheap and down better than 20 in last month alone. This is part of previous 20 billiondollar stock buyback plan which was announced last october. We are just Getting Started this morning. Coming up right after this georgia congressman doug collins is here to talk about the first criminal case in the durham investigation. Next hour former new york city mayor giuliani will be here talking about the political field and the state of our cities and New York Stock Exchange Stacy Cunningham and Delisting Chinese Companies in horizon and 8 00 a. M. Hour senator marco rubio talking about the latest Senate Report on russia plus delaware senator chris coons will be here and hes introducing joe biden tonight at the dnc. We will get a preview. Plus Senior Policy Adviser to President Trump Stephen Miller joining me to discuss new boycott of goodyear tires and immigration and the wall. Big business and body arm or, why protection sales have been going ballistic, stay with us, youre watching mornings with maria on fox business. I need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old ompa sniesieshave hhar hn pld theid r thdaeitar ng datngag angingan datng d more sensite ive, rs donatala. Dat ata. It doesn dsn djurastg d dra d t de busie nesssine wn wi th neieffncicy,ie ncrserrors w aasndte w. Nd ww itits curilodiuscu. Lo so rso rulou. Soree visit paycom. Com, and schedule your demo today. I accept your nomination for Vice President of the United States of america. Its not about joe or me. Its about you and its about us. In this election, we have a chance to change the course of history. We are all in this fight. Maria Kamala Harris making history becoming the first woman of color to accept the democratic Vice President ial nomination last night. Harris and other key speakers taking turns slamming President Trump. Right now we have a president who turns our tragedies into political weapons. Joe will be a president who turns our challenges into purpose. They believe that in a democracy the right to vote is sacred and we should be making it easier for people to cast their ballots, not harder. They believe that no one including the president is above the law. I know something about the flings and arrows she will face, this attorney general can face them. Maria senator corey booker and gavin newsom among tonights speaker, night four of the dnc, big highlight, of course, joe biden accepting the president ial nomination. Joining me right now Northern Star strategy sounding partner democratic strategist Michael Starr hopkins. Thanks for having me. Maria so what would be a success for you tonight . Micheal a success would be joe biden telling his story about the American Dream and once again putting the referendum forth on Donald Trumps presidency and failed reaction to coronavirus, his failure to support American Workers and his failure to respect the decency of the office. Maria you know, its interesting when you say decency of the focus and thats exactly what the focus is on the durham investigation and senator ron johnson, running governmental affairs, investigating the transition period when president obamas intelligence agencies spied on donald trump. Its sort of like the elephant in the room while they attack the president for weponizing the agencies, thats exactly what the Obama Administration did. Micheal lets be very clear. President obama did not spy on donald trump. No, he didnt. No, no. Maria 100 . 100 . Micheal he was talking to people that he shouldnt have been talking to and spying and its disingenuous. Maria carter page was asset of the cia. We know from the Michael Horowitz ig report as well as from the Mueller Report that there in fact, was spying going on. I dont know how higher up the ladder it goes. I dont want to go back into it because this is fact at this point, michael. Micheal i will take the word of the maria no, no, we heard from the Senate Intel Committee. We heard from Michael Horowitz and we heard from robert mueller, so you can take all of their words and we are waiting on john durham which we are expecting to see indictments and im wondering who from the Obama Administration is actually going to see an indictment while President Trump campaigns today in scranton, pennsylvania, joe bidens hometown, the president spoke hours before biden will accept the democratic nomination, what are your thoughts on this, the president going to bidens hometown . Micheal to be honest since i guess the president is probably watching, the president is a joke. The idea that he will go to scranton, pennsylvania saying he has bluecollar roots. This guy barely won pennsylvania in 2016, he has called for goodyear tires to no longer be supplied by the u. S. Government, hes led let 170,000 americans tie. 170,000 americans would give anything to be with their families. Maria michael, let me ask you this. Given all of the conversation about joe bidens gaffes, do you believe that joe biden is entering a senile stage in anyway . No, not at all. I think maria not at all . Micheal showing the mentality of a psychopath and no empathy and no ability to relate to anyone. Maria okay. Thank you, michael. Michael starr hopkins. We will be right back. Do you remember what that is . But what if you could stdo better than that . K. Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Hello, im michael youssef. Lately, we are hearing so many conflicting voices and i dont blame you if you are anxious and worried and troubled. But if i told you that theres only one voice that you can absolutely trust. After all, he wants nothing from you and wants to give you everything. Im talking about the lord jesus christ, who said, come unto me, all who are carrying heavy burdens and worry and anxiety. And i will give you rest. Hes the only one who can give you true rest and peace. Will you come to him . [female voice] are you waiting to find a trustworthy voice in the midst of the chaos of this world . Visit findingtruepeace. Com to find a voice that will never let you down. Again, thats findingtruepeace. Com. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. President obama did not do a good job and the reason im here is because of president obama and joe biden, but they did such a bad job that i stand before you as president. Thank you all very much. Maria President Trump blasting former president barack obama ahead of dnc. President obama slamming the president during his speech at the convention. President trump tweeted during that speech writing this, he spied on my campaign and got caught. Then the president tweeted, why did he refuse to endorse slow joe until it was all over and even then it was very late, why did he try to get him not to run . Lets talk about what we heard last night and your reaction, steve forbes, to some some of te tweets. How do you see things . Steve i think the president is right on and president obama overlooked the fact that he in office used the irs to go after conservative individuals and conservative organizations. You mentioned the whole scandal of spygate, the worst scandal in american history, so using, misusing the oval office he talked about trump trying to help his friends. What about joe bidens son and joe bidens brother. They led with their chin last night and i think the president will have fun hitting them back next week, big time. By the way, the u. S. Economy was slowing down when barack obama left office, trump ramped it up. Maria i just dont understand how they can get away with saying the things this they did to trump as if, you know, no big deal, as if its not in your face like trump uses the Justice Department to weponized, thats exactly what the Obama Administration did and many people who feel that it goes up the line to obama and biden in terms of the spying and in terms of the, you know, setting up entrapment of some of the obama some of the Trump Campaign officials, steve, and yet they say it with a straight face . Steve its called a big lie. After the election the way they destroyed michael flynn, cripple the adm

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