Transcripts For FBC Mornings With Maria Bartiromo 20240712 :

Transcripts For FBC Mornings With Maria Bartiromo 20240712

Detecting new cyberattacks from russia, china and iraq election. The clock ticking away for tiktok. President trump says theyll be no extension for the sale of popular chinese app. Ceos calling on de blasio to crack down on crime. The dax index lower by 46, the uk economy rebounding. Gdp up 6. 6 in the month of july for uk. In uk green across the board. Best performers were in hong kong, japan and china all up 3 quarters of 1 . Now some of the top stories that we are watching this morning. President trump slamming joe bidens record on jobs saying the democratic nominee nearly killed the u. S. Auto industry during Campaign Rally in michigan. Joe biden supported the Transpacific Partnership which would have been death to auto jobs. I withdrew from the tpp, that was so easy. You wouldnt have been making cars, you would have been making cars from foreign lands. Dagen made in america platform in michigan that ensures penalty. Wild fires ravaging the west coast. 16 are still missing. County fires the deadliest for the state this year, more than 200 homes and buildings have been destroyed. In oregon evacuation orders are growing, more than half a Million People fleeing homes, at least 4 people there have died from the fires in that state. More than 1400 square miles have burned in oregon this week. And covid19 relief bill fails in the senate, democrats block the 300dollar measure which included money for unemployed, farmers, postal service. Support of the bill falling short for 60 votes need today move forward. Democrats and republicans sharply divided over money to spend and what the legislation should include. One setback of reaching agreement before the november election. Football is back, the kansas city defeating Houston Texans last night. 34 to 20 kicking off the nfl season, super bowl mvp Patrick Mahomes throwing for 3 touchdowns last night. The only chiefs player to take a knee during National Anthem and the texans choosing to stay in locker room for the star spangled banner at the start of the nfl. Futures this morning pointing to big gain ahead of trading. Thats twothirds of 1 . The nasdaq is up 118 this morning and s p up 29. Yesterday markets were under pressure, Major Technology stocks saw a major decline. Dow industrials yesterday down 405 points. Nasdaq down 221. Joining me right now is cfra chief investment strategist sam stovall, fox business Dagen Mcdowell and the wall street journal assistant Editorial Page Editor James Freeman. Great to see you guys, welcome. Happy to be here. Maria sam, let me kick it off with you. Lets talk gdp because Goldman Sachs is out with new report, raising outlook to 35 growth up from estimate of 30 . We heard from nancy lazar on the program. Shes said the same thing. What do you think of 35 gdp in the Third Quarter and where does it go from there . Sam i think thats a possibility. Thats really going to be driven by a near 40 climb in personal spending but supported by a 17 and a half percent jump in capital spending, so we are going to be seeing strength recovering across the board and lets not even talk about retail sales which are expected to be up almost 70 in the Third Quarter. Maria wow, just really a lot of arithmetic given contraction in second quarter. Where does this go after massive down spat in second quarter, what does Third Quarter and 2021 look like to you . The Fourth Quarter and end of 2021 are expected to be pretty good. Growth are forecasted 6 and a half percent by the Fourth Quarter which is really 2 and a half times what we got in the quarter prior to the covid shutdown and then if you look to to 2021, our expectations are 5 and a half percent increase in real gdp supported by what the fed said lower for longer and were counting that in years, not months. Maria yeah, we need the Economic Activity to fire up again. Now people are returning to work, j. P. Morgan chase moving to bring senior traders and salespeople back to the office after remotely working since march. Company executives inperson work will begin september 21st. What do you think about this . Jp morgan ordering employees back to trading desk, sam . Sam i think we will be seeing this throughout the business arena and companies are reopening but they are also reopening and telling employees that if you feel concerned, you have family issues, and so forth, then you can continue to work remotely, so the economy is slowly reopening, but at the same time management is being respectful of the worries as well as responsibilities that these employees have. Maria yeah, James Freeman, leave it to jamie dimon to rip off the band aid and say, here is a date for you to be back in the office september 21st . Yeah, thats right. Im curious what it means for the rest of the economy and weve obviously seen a lot of analysis and guessing about how cities come back, what happens to commercial real estate. Here you have a company thats really full of knowledge workers who you would think could work remotely, they just crushed it last quarter and yet they think theres a value in having everyone together in an office in a city. Maria yeah. Exactly. And sam, i wonder if jp morgan is going to be a catalyst for other firms to say, put down an order to come back to work. Sam well, i think so. They are simply voicing what other companies are thinking to try to bring back people because, you know, you have more of a Community Feeling when you are working with your peers, also the spontaneous share of ideas i think allows for greater research, et cetera. Im not surprised at all that Companies Want to get back to as close to normal as possible. Maria yeah, Dagen Mcdowell, i know we will talk about this in the next block but let me get your take on the growth story because we are still fighting over stimulus plan right, and i wonder if the fourthquarter numbers are lower than what people expected because we dont have the extra stimulus. We will see about that . Dagen to democrats care about working men and women who are unemployment, the answer is no, you had the democrats who slammed down the gops kind of thin stimulus bill blocked by democrats in the senate, so thats where the democrats stand on that. They only will pass something, again, the democrats want aid to states, a trillion dollars in aid to the states, places that cant get their act together like new york and other blue states, they wanted a trillion dollars to bail out the cities who were in a financial hole because of their own local leadership. I will add one thing about jp morgan, there are a lot of the firms particular in new york city and large areas that are also telling their workers to come back and its not just the big banks, its also other large corporations, particularly corporations with global presences. That seems to be one of the Big Communications issues that the firms are having, where you have a Global Workforce and having people work from home makes it very difficult in terms of creative thinking, ideas and also communication management. Maria yeah. So sam, wrap us up here, in terms of the broad backdrop, real quick, sam, do you worry that things slow down in we dont get an agreement on a stimulus . No, i dont. I think that while investors are encouraged that congress is being dragged along grudgingly to what the fed has already done, the focus really is on the fed on the Interest Rates and the ability to support the overall economy. Now the focus is will the economy and corporate earnings will come and meet what the expectations are. Maria yes, 0 Interest Rates have a big, big impact there. Sam, good to see you this morning. Thank you so much, sir, we will talk with you soon. Sam stovall. The Company Reported better than expected fiscal firstquarter results, sales were up from a year earlier and it is benefiting from the push to the cloud amid the coronavirus pandemic and shutdown. Oracle shares up. Trump Campaign Communications director erin is here. Shes next talking about President Trump to battleground state of michigan. Rick scott joining me on swing state voting. All remembering september 11th, i will be speaking with major giuliani and in the 8 00 a. M. Hour former New York Stock Exchange ceo dick grasso will join me as we look back as the country changed forever. Youre watching mornings with maria live on fox business. Maria welcome back, the battle for michigan is on. President trump making Campaign Stop in battleground state last night touting his record on job creation. He took a jab at his democratic rival joe biden as well. Watch. Joe biden devoted his career to offshoring michigans jobs but weve changed it around. We have a very much Different Party than 4 years ago. We are the party of the workers. We will grow american jobs and wages. We will rapidly return to full employment soaring incomes and record prosperity. Maria meanwhile biden unveiled made in america plan in michigan earlier in the week. Joining me right now trump president ial campaign rip kill principal communication director, erin. Do you think the president got his message across last night . Absolutely. President trump delivered very strong proamerica, promessage. County saw 12,000 vote swings to president obama and President Trump in 2016. Its the bluecollar job county that we see in michigan that took a chance on President Trump. He stood up and touted accomplishments bringing back almost half of the jobs lost during coronavirus in michigan and thats the message thats really going to resinate. Joe biden keep having empty events with empty promises and not delivering for michiganders the way trump has. Maria the president is hearing to nevada next, where is the campaigns focus headed to in november . Tell me where the crux of the platform is . We will be all across the country like you mentioned the president will be going to nevada. Im in iowa in team trump on tour bus. The families going to pennsylvania and michigan, ohio, wisconsin, florida, georgia, arizona, but the message is clear. We want to be able to talk directly to voters safely about what President Trump has been able to deliver on the economy. People took a real chance on donald trump in 2016. They wanted an outsider, someone who would fight for them and they got that. Now you are seeing it day after day where the president sees onslaught from the media and the left about the job hes doing for the American People. Its our job to get out there and talk to supporters, recruit volunteers and get the message locally to people about whats at stake between President Trumps proamerica message and prodelivery versus joe biden who kowtowed to china for decades. Maria it looks like joe biden is taking pages out of President Trumps book. Lets face it. Hes now talking about, you know, america and Jobs Creation in america. He also has an article in the journal this morning talking about his team saying that hes going to be tough on china. Thats exactly the president s platform. Well, its good to see that joe biden yet again who has a history is doing the same thing here in 2020 because hes not a proamerica agenda. Youve seen his voting record. People dont have to guess. He helped to bring them in world strayed organization and give them nation status and for him to have split and cost of american jobs and shows what a flipflopper joe biden is. You see it time and again. Just yesterday he said he does not support nafta and he voted for it. He support usmca. Maria all right, we will keep watching, erin, thank you so much, erin perrine joining us on Trump Campaign. Tiktok faces a deadline. President trumps message to Company Coming up. Calling on the mayor, ceos across are urging de blasio to get busy and fix new york city, their message, their letter right after this. Dont forget your lunch im making pizza on kings hawaiian mini subs. Yum kings hawaiian. Im a sustainability science researcher at amazon. Climate change is the fight of our generation. The biggest obstacle right now is that were running out of time. Amazon now has a goal to be net zero carbon by 2040. We dont really know exactly how we are going to get there. Its going to be pretty hard. 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We do this, together. Bounce forward, with comcast business. Maria welcome back, fixing new york city. 160 Business Leaders and ceos from all 5 boroughs sending letter to mayor bill de blasio urging him to create a clear workable plan to bring the city back to life. The letter reads in part this, we need to send strong consistent message our employees, customers and clients visitors will be coming back to healthy Work Environment and we urge you to take immediate action to restore essential services as necessary precursor for the citys longerterm economic challenges. This is from the leadership of business in new york, Dagen Mcdowell, as you know, de blasio wants 9 billion before hes going to return any services because he says the coronavirus caused that hole in the budget. Dagen we know thats a steaming pile of horse manure. Its one to have biggest issues, the Manhattan District Attorney for 4 and a half years has not prosecuted quality of life crimes and so what you have is, you dont have people who are in the streets. They are not prosecuted, they are not even issued tickets for creating what is essentially an open sewer in new york city. You had a kneejerk reaction that police disbanded plainclothes unit who got illegal guns off the street and targeted violent crime, arrests are down 13 but shootings just over Labor Day Weekend were up 50 . To all these ceos, this is a lot of talk, what about the walk . What are they going to do because the mayor and the da in manhattan and the governor most surely will do nothing in regard to this letter. So what are they going to do to fix new york city . Are they going to take those jobs and move them somewhere else because if youre asking employees to come back to new york city and work here, that is unfair. They deserve to live in places where they are not stepping over human excrement in the street. Its on the 6 30 dont care. I went to cvs on saturday morning and there was human excrement and i asked Police Officers did you arrest the guy, did you give the guy a ticket. No, what are we going to do. Even looters that we arrested this year they were right back out on the street to rob again. Thats the environment we live in. Maria well, i mean, putting the disgust aside in terms of what you just described, the safety issues for me are really the big important issue and i think for families and and women and men everywhere james. You dont want to come back to a city where you feel afraid to put your key in the door, afraid to get into a car that someone is going to hold you up, but youre seeing crimes skyrocket. First issue, he needs to be focus on is security. James yes, absolutely right. The mayor has tolerated a lot of lawlessness especially this summer and thats why you have seen bidding wars for housing in the suburbs in the new york area because you have a lot of people who are just not comfortable being in the greatest city in the world anymore and you hope that it doesnt have to get as bad as it was in the pregiuliani days in terms of crime, lawlessness for the Political Leadership to get the message, but this letter from the ceos is another effort to say, you know people want the excrement free on the streets. Dagen when i talk about the quality life offenses like people using relieving themselves in public, its all part of the same thing, that you had the da years ago step away from basically step back from prosecuting quality of life crimes and that sends a message to people that, oh, it doesnt matter. We dont really care about what the streets are like. We dont care that they are covered in filth. We will not stand with law enforcement. Its the downward spiral i talked about for years here and this is where we are. I had to run in my building twice this morning as i was trying to walk my dogs because there were peopl

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