Maria welcome back. Good friday morning, everybody. Thanks very much for joining us this morning. Im Maria Bartiromo. T i hop yoi hopeyoure having ay morning. Time for the hot topic of the hour democrats reportedly panicked of the strength of third party candidates, some say its the single biggest threat that helped put trump back in the white house. The Democrat National committee establishing an official commit the at this to counter third party candidates. President bidens team shielding biden from the press during a Campaign Event yesterday in michigan. Watch this. Can you take a few questions . Thank you, guys. Thank you so much. Thank you. Back to the car. Thank you. Maria thank you, thank you, get out of the way, thank you, no questions. A ashley, what do you sunshine. Do you suns think . I think it surprises many people. Its sad but its what we have. Maria thats what they have to do, cheryl. Were looking at a complete repeat of biden 2020. That campaign a is just on repeat. Mar
This morning. Im maria bartiromo. It hope youre having a good tuesday morning. It is tuesday, march 12, you 7 00 a. M. On the button on the east coast. Time for the hot topic of the hour. President biden unveils a 5 andahalf trillion dollars of new and higher taxes package in his massive 7. 3 trillion, 2025 budget. Taxpayers are Stuck Holding the bag after all of the president s spending led to 40 year high inflation. The wall street journal reporting that more americans are treating their 401ks like cash machines. A record share of account holders reportedly taking early withdrawal from accounts last year. Credit card debt is now at a record high of 1. 3 trillion but the president continues to tout his economy. Watch. 15 million new jobs creat, thats a record, growth is strong, wages are rising, inflation is down, we reduced the federal deficit. Inflation keeps coming down, Mortgage Rates will continue to come down as well. Maria luke, the committee for a responsible federal budget is
Plus, powell wrapping up day two of testimony on capitol hill. Cleveland fed president loretta mister joins us exclusively with the more on the timing of when the first rate cut could be. And then we have the action, the story, and the trade on three more names getting ready to report results. Our trader likes two of them, and shes here with the names and what makes her a buyer. We begin with the markets overall. Its green. The headline today is a record high. Again, a record high for the largecap s p 500 index. Well put a star right there right now. At one point, it was as high as 5156. Its currently up 1 . The dow is the laggard on the day, just up maybe 1 3 of 1 , 120 points to the upside, 38,781. But the real outperformer is the tech heavier nasdaq. Not a record yet, but darn close. Its up roughly 1. 5 , 231 points to the upside. 16,262 the last trade there. Meanwhile, check out some of the earnings movers. A check on the consumer economy. Supermarket giant kroger, you can see here
Hour. The focus is on President Biden tonight when he takes the podium for the state of the Union Address at 9 00 p. M. Eastern. Many will be watching for what the president says and doesnt say about the wide open border and increase in migrant crime across the country as immigration remains a top issue for voters. Meanwhile, chinese snake head gangs are working with the mexican cartels to bring migrants into the country, senator Roger Marshall broke the news with me, saying the snake heads are helping the ccp transport people and drugs into america. The chinese have become an expert at money laundering. Well see organized crime grow and grow. Theyre smuggling people from china to turkey. Theres something called the snake heads, like coyotes. They hand them over to the cartel. The cartel brings them to places like kansas, not just working massage parlors, an explosion of what they call weed farms, marijuana farms. The chinese are intimately involved with those and exploiting labor for
Emerging says one analyst and its not too late to get in on the action he is here with the trade and the upside of this industry. Now a check on the markets the major averages are rebounding, but the chart of the day right now once again goes to new York Community bank corps. Believe it or not. Down more than 40 so far on reports thousand that the bank is seeking a major Capital Infusion from outside. And thats where we are going to start with these green markets, a very deep red picture, and leslie picker has the details on nycb so it appears to be that this would be an Equity Capital raise, and that they reached out to a variety of investment firms. My understanding in talking with a couple of indirect sources over the last few minutes or so is that this is likely a lot of these conversations are more in the private realm opposed to public investors and that they have been going on for quite sometime, because one of my Big Questions was, why is this coming out on a wednesday typicall