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tv   Mornings With Maria Bartiromo  FOX Business  December 13, 2021 6:00am-9:00am EST

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let's just assume the answers is nowhere good. and let's be glad that guys like captain vanderpol and his crew toil away on the high seas for the benefit of us all. because even in international waters, that's how america works. maria: good monday morning. thanks for joining us. i met maria bartiromo and it is monday, december 13. top stories, president biden's approval rating takes a another leg down as americans are fed up with bad policy is quote everything is getting worse. whether it's supporting your high inflation driving prices for everything hi aces-- higher or a wide-open border, americans closing out the year are hurting. here's what wyoming senator told me
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yesterday on a sunday morning futures. >> you look at the new inflation numbers and our economy is on its back. now he's pushing this so-called build back better bill, i mean, to me i look at this and it will break the back of the american people with taxes, with spending, with all of the mandates , people will pay more for just about everything making inflation worse. maria: we are bringing you the latest all morning long. where does that spending packages standard? markets are higher this morning with futures indicating again at the start of trading for the week with dow jones up 79, about a quarter of a percent, s&p 500 at 14 and a half and the nasdaq higher by 61. all three major indices were higher on wall street last week. the week looks like this, dow jones up 4%, nasdaq up three and two thirds percent and s&p higher by almost 4% on
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the week last week. s&p 500 finishing at a all-time high record friday despite inflation data showing prices are now at nearly a 40 year high on inflation, 6.8% annualized. european markets this morning are mixed. dax indexes higher by by 135, almost 4% in germany. in asia overnight a mixed story with markets they are moving fractionally pretty much across the board. biggest mover japan up three quarters and 1%. "mornings with maria" is alive right now. ♪♪ maria: morning mover right now, peloton with the stock back on the rise after big selloff last week it's up 3%.
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it hit a 19 month low last week from a rather unflattering pro trail on hbo's new reboot of sex and the city. get ready for that stock trading higher this morning which shareholders reminded about a class-action lawsuit involving allegation of misleading statements over company inventory. pellets on having a wild couple of weeks. futures are in the green as investors are betting on a growth for the economy with the dow jones of 86, s&p 500 and nasdaq higher by 67. all three major indices finished up friday. despite novembers consumer price index coming in at 6.8%, the annualized number for inflation at a 40 year high expectations of the federal reserve to begin tightening stocks continue trading higher. the last fed meeting of
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the year begins tomorrow with a two day meeting tuesday and wednesday and we will get a window into the fence thinking in terms of when rates start moving higher. three rate hikes priced into this market and joining me now chief investment officer brad mcmillan also joining the conversation all morning long is former department of education press secretary angela moore vito and also brian brenberg. great to see everyone this morning. brad, kicking things off with you, what you think is priced into this market? three rate hikes priced into this market from the federal reserve and we will hear commentary about that at the two day meeting beginning tomorrow and wednesday what is your sense? >> i think the fed is going to accelerate their tightening. i think they have to. i think they won the war on unemployment. you look at the jobs numbers, not the most recent, but the average
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layoff numbers and now they can turn their intention to inflation-- you were talking about, that's the headline issue right now. with that said, don't think markets are looking for inflation to say hi for long. i think it's going to drop off. that will support multiples going forward. maria: i mean, the fed chairman said it's time to retire the word transitory, so why do you think that people believe that inflation is speaking? >> two reasons, short-term we have inflation driven by excess demand by the federal stimulus programs and a shortage of supply. both of those are given, but forget what i think of a look at what the markets are saying. look at the 10 year interest rate, that's not risen, in fact it's gone down recently. markets don't expect inflation to stay high. also, when you look at longer term inflation expectation or michigan survey, short-term is higher, five-year still
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under 2%. maria: brad, what's your take of all this buyback activity we are seeing? one of the top stories in the journal s&p 500 companies have spent $234 billion in the third quarter buying back stock. what's the impact on the markets from these buybacks? most people expected to continue. >> well, give a marginal buyer coming in i mean that can help but support the market. i think that's another thing that will keep multiples high because when companies are looking at these places to spend their cash they are making tons of money, margins are up, earnings are skyhigh. what are they going to do with the money? well, look at the demographics growth will be strong, but limited and buybacks with interest rates where they are is a great place to be. i think it will continue and that's a great thing for the market going forward. maria: now, you like real estate and energy right now. tell us to allocate
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capital from your standpoint and why those two groups look attractive. >> i went to buy things where supply is going down or constrained. i don't want to buy things where there's a lot of supply out there. look at energy and there's a couple things going on. first of all if you'll get a capital investment into the sector, the production, that is something that's gone down and when you look at things like esg investing, that's going to keep going down, so we have a long-term vote against more supply and you have the same thing with real estate. when you look at real estate, specially if we get inflation going forward and it stays high, any existing property has an enormous competitive moat because it will cost more to replace. those are bets on more inflation and also bets on a fed mistake because if interest rates go down you will have cash flow yielding investment and that's actually a great way to play both sides of the argument right now. maria: all right and you are looking at growth year and into 2022.
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what would your be assessment as the macro story as we approach your end into the new year? >> i think it's going to be strong. i think consumers will continue spending. i think all of the earnings growth we are seeing is going to flow pretty much into consumer spending. we have seen businesses investing. business as confident as it's ever been and i think next year will be a good year, but i think towards the end of the year we will see the slow down and a bit of a reckoning with some of the fed policy changes. i think we will have a good year next year. maria: brad, great to get your take on all of this. thank you. brad mcmillan. i'm with brian brenberg and angela today. brian, your reaction to what you just heard in terms of where we are as we see inflation as the biggest threat right now, for the consumer? >> brad's very optimistic about what the situation will be going into next year. i think people are a little bit more cautious
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about their situation. you would like to believe that jay powell, you would like to believe that the president of the united states understands the inflation problem and will do something about it, but the fact is what we give the average american confidence that our policy leaders know they are doing? they have been wrong on this for months and months and their solution, maria, is to spend trillions more. we are going to talk about this, more than they are willing to admit, they aren't even willing to admit how much money they will spend. are you telling me that's the solution for subdued inflation next year? i will believe it when i see because i don't buy it now. maria: we will talk about this ahead of the two day fed meeting so let's take a short break and get more on the fed coming up plus ahead unprecedented storms, deadly tornadoes leaving a path of destruction across civics' southern states. we will take you live to look at the devastating impact and then the real cost of president biden's bill back better
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player. we will tell you about the bills long-term effect and new york masking up once again indoors. what the return of these mandates mean as we head into 2022. don't miss a moment of it. you are watching "mornings with maria" live on foxbusiness.
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maria: welcome back. some top stories we are watching, the most deadliest tornado in history in kentucky with a rash of deadly tornadoes here and across the south and midwest this weekend with devastating regions totaling over 100 people. kentucky governor calling it the most deadly tornado event in state history. before-and-after satellite images shedding light on the extent of the devastation. arkansas governor hutchinson said his state has seen underdone homes and businesses completely destroyed by this severity. in illinois, six amazon employees were killed when a warehouse roof
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collapsed. rescue crews working to search the rubble this morning for any survivors. meanwhile a new high for cobit deaths in the us is now surpassing 4,800,000 coronavirus related that since march, 2020 is roughly 34 states see a higher seven-day case average. new york state's mask or vaccination mandate takes effect today. governor kathy hochul ordered awful offices, restaurants shops and businesses to require staff and customers to wear masks indoors, provide proof of vaccination or face a fine. they will revisit the order january 15. foreign policy and secretary blinken standing firm on president biden's warning to vladimir putin that the us and its allies will take quote unprecedented action should russia continue its aggressive action on the border of ukraine. officials are concerned the russian military buildup along the border will lead it to an invasion by russia.
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moscow has denied plans of invasion right now, but at it's pretty unlikely there will be a face-to-face meeting between black-- vladimir putin and biden anytime soon. florida governor ron desantis fighting back against illegal migrants shipped it to his. imposes a contrast program with private companies to transport migrants out of florida by using $8 million in the states budget to do so. watch. >> if you sent to delaware or martha's vineyard or some these places that order would be secured the next day. maria: desantis says it's the beginning as he will propose a series of legislative reforms to push back on the illegal migration and president biden's radical agenda. a new analysis by the congressional budget office which shares of president biden's massive spending bill going to cost $4.7 trillion and add $3 trillion to the federal budget over the next decade if the program and the bill is made permanent with the
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same analysis showing the cost of the bill would be 4.7 trillion if the bill's provisions are extended. this report as inflation in the us is hitting its highest level in almost 40 years. a sunday morning futures i spoke with wyoming a senator about the record high inflation and the bill back better plan. >> this will break the back of the american people with taxes, with the spending, with all of the mandates. people will end up paying more for just about everything. it will make inflation worse. taxes will go up. all of the tax experts will tell us that at least a third of middle america will pay a lot more in taxes and the impact of inflation on people's lives now whether you want to call it a hidden attacks are or not, people's paychecks are not keeping up. people are hurting and it's the bite in the policies that have made worse. maria: angela and brian, it's incredible to me that we have these numbers right in front of us.
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we see inflation at a 40 year high. we know what this plan really costs and all of the given is in it that programs go away, getting them to $2.1 trillion cost, when in fact the cbo, both telling us the true cost of this is cbo says four-point 7 trillion in community for responsible budgets is 4.9 trillion then they are still pushing for more spending, angela, wanting to get a build back better vote on the calendar. >> the cbo score completely blows up the white house is a lie that bill back better comes to $0. they started pushing that in september, and at this point we know they were off by give or take a few trillion, so their math was a little rocky. it is concerning, honestly, that the one solution democrats seem to have is just print more money. they are going to put fuel on the fire of inflation and while i think the senator is
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light-- write about a lot, inflation is an invisible tax. i think it might be the most visible tax there is because it hits people right away. it's the most obvious sort of punishing taxpayer tax areas especially on the people who can least afford it, so bill back better needs a total revamp, go away entirely because it is just going to make inflation worse. maria: brian, here's a comment from the community for responsible budget, the analysis highlights a large cost of permanently extending expiring policies in the bill that better plan arbitrary expirations don't make policies cheaper. they just make them shorter. >> yeah, i mean, the entire bill is a gimmick it's been a gimmick from day one and the president of the united states will not be honest about the fact that he's planning to spend 3 trillion more dollars then he says he's going to spend. this bill shouldn't be reformed. it should be thrown out.
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it's exactly the opposite of what we need in a moment where prices are going through the roof. this is going to kill the middle-class in this country. it's going to help the rich. it's going to help the politically connected, the folks in dc, it's not going to help middle america. i hope that senators on the fence about this are looking at these numbers , they understand that these numbers are much closer to the truth. this is a budget buster and they should say no. joe manchin should say no. kristen cinema should say no. there's nothing to suggest to a bill. that president has to lie about the bill repeatedly. maria: i mean, it seems joe manchin is sticking to his guns saying he's not going to vote for this, but chuck schumer is pushing this through wanting a vote before christmas. i would say it's highly highly unlikely that we will see a vote by year end, but they will change it, they will take things out and put other things in and we
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will talk about this in january, no doubt. when we come back americans are growing more skeptical of president biden's jobs-- job performance beyond economic issues. we have the issues most concerning voters when we come by-- write back. stay with us. when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be. together, we can create a kinder, more inclusive world for the millions of people on the autism spectrum. go to autismspeaks.org i have something for you. [husband whistles] ♪♪
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maria: welcome back. president biden's approval ratings are dropping fast with a new abc news poll finds only 20% of americans approve of the biden's handling of inflation. 69% say they disapprove of. also, in the full 41% of those polled approve of the handling of the economic recovery, 57% say they disapprove and americans are taking notice of the rash of smash and grab a looting's in major cities. 36% approved of the president's handling of crime and the other major issue we are all dealing with and-- and watching firsthand. joining is now tom bevan. tom, great to see you. thanks for being here. what a mess. your reaction quite like these are pretty bad numbers. there were only two issues where he had a majority of approval of his handling. one was the coronavirus and the other was infrastructure, both at
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53%, everything else under 53% and as you mentioned the most urgent concern of the american public is it-- is inflation and he's failing badly. 71% of independents and i think that is the number that should concern the white house, independents have lost trust in the administration and the president and their handling of the economy with the most major issues that concern them and that's inflation. maria: you mention covid and we have news that pfizer will acquire arena arena fine art-- pharmaceuticals and a $6.7 billion deal and we see the pharmaceutical companies gaining in prominence because of these covid vaccines. they are going to generate $93 billion in revenue moderna and pfizer in the coming year because of these vaccines, but i'm wondering in terms of the broader market in the broader economic backdrop, you have a couple of sectors winning, but for the most part due to the
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supply chain and inflation, things have slowed down quite a bit. >> i mean, this is a conundrum that biden administration finds themselves in and they have been trying to figure out to tell the good news, unemployment 's dropping, unemployment rates, jobless benefits claims were down historically last week, so there is a some good news out there, the problem is it's overshadowed by inflation and they have not been able to come up with a good message on inflation to the american public that is putting them at ease, so as a consequence all of the other points of the economy where they are trying to highlight our falling on deaf ears and that's going to continue, maria, particularly if some people expected they try to pass this legislation of more spending making inflation worse, that's only going to add to the administration's lows and democrats lows as we approach midterms next november. maria: i find it stunning really tom, that the democrats are
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still pushing through this bill that better plan despite what we see on inflation. gasoline prices up 50% year-over-year. food prices up in the double digits. we all know inflation is stowed by more money chasing too few goods and this is more money thrown at the economy and yet they are acting as if just push it through despite what every american is feeling right now. do you think they will lose big in the 2022 election? i'm talking about the house and the senate. "wall street journal" analysis is finding redistricting across the country will likely help republicans gain the most political power and so far the new maps are graded more strict where voters lean towards one party. 22 states that have completed their maps only have 12 competitive districts compared to 25 previously. your thoughts on the redistricting and its impact? >> well, it's been a fitting republicans, not in a huge way, but a little bit and it
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certainly to the point "wall street journal" article, it's both sides democrats and republicans are creating safer districts for their members and that's what parties do, so that process will continue, but as you mentioned, we are not even halfway home in terms of the number of states who have completed redistricting process and so i think we will see fewer competitive districts and for a lot of people i think gerrymandering is a problem, but even in larger scale i mean states don't gerrymander at the federal level and we have seen red states get redder and blue states get bluer and electing more conservatives and more liberal members so it's a broader issue that the american public is sort of battling here with our politics, but in terms of how it impacts the 2022 midterm, certainly gives the republicans an edge. they only need a few seats right now and given where the pulling is, it generic congressional ballot, republicans are doing well in that figure up 3.3 percentage points in real politics average
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and that's unheard of at this point. if that stays true through next november they would win in a landslide in the house. maria: tom, great to see you. thanks so much for weighing in. quick break and then a warning for russia, g-7 promises consequences should vladimir putin invade ukraine. we will get into america's response of the g7's response next. no response to china, by the way from the g7 on its planes flying into taiwan. then staying bullish on big tech as top investor saves a great time to get into the sector even with valuations where they are. we will tell you next hour in the word on wall street back in a moment.
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when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be.
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together, we can create a kinder, more inclusive world for the millions of people on the autism spectrum. go to autismspeaks.org. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. maria: welcome back. good monday morning. thank you for joining us. i'm in maria bartiromo and it is monday, december 13. we have a rally underway this morning with futures indicating a gain to kick off the week with dow jones of
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83, s&p 500 higher by 15 and a half ended nasdaq up a 58 and a quarter as we begin record territory after s&p 500 finished at an all-time high friday. all three major indices were higher on the week last week, s&p 500 finished at a new record close friday despite the inflation data showing prices are now nearly at a 40 year high. dow jones of 4% of the week, nasdaq of the three and two thirds percent and s&p 500 higher by almost 4% on the week. european markets are mixed at this morning. eurozone fractional move across the board. dax index best performer of 157 points right now, better than 1% in germany and in asia a mixed story with all the markets moving fractionally. biggest mover japan of three quarters of 1%. back in the us, smash and grab robberies becoming commonplace in a major american cities. absolutely incredible
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and cheryl has the details right now. cheryl: good morning. business owners are fed up with out-of-control crime in particular in chicago. saturday, two men brandishing a common-- gun and hammer smashed open display cases stealing $2 million worth of luxury watches from gulf coast exotic motor cars. 10 customers including children were in the store at the time police try to chase the suspects, but didn't catch them. dealership motor calling out the mayor saying enough is enough. south korea choosing not to join the american lead led diplomatic boycott of the 2022 beijing games signing a need for china's help in the denuclearization of the peninsula. uk, australia and canada have joined the us with boycotts over concerns about human rights abuses by china. mass exodus from democrat led states continues in this time celebrity chef gordon ramsay packing up his bags.
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the kitchen host is reportedly recently located his headquarters from los angeles california to texas in the dallas-fort worth area. ramsay hired a team of businesspeople and chefs to expand his restaurant empire across north america opening about 18 restaurants in boston, miami, chicago and expanding in the dallas-fort worth area. maria. maria: we see more and more of that. that's for sure, cheryl. thank you so much. meanwhile tim-- tensions with russia on the wise-- rise as countries warn of massive consequences if russia doesn't de-escalate its military presence at the border with ukraine. this follows last week's call between president biden and vladimir putin and newly released clip showing putin says he wants a face-to-face meeting with biden, but secretary of state anthony blinken says it's unlikely enjoying me right now retired to
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start marine corps general natural defense industrial chairman arnold pinero. general, great to have you. thank you for being here. the clip that i saw from the biden vladimir putin meeting had joe biden saying to putin, hopefully i will see you in person next time. doesn't matter if it's in portion or on video between these two leaders? but your assessment of that summit? >> maria, first of all it's a pleasure to be with you this morning. frankly, now is the time for the united states, our allies and partners to act up, not just talk tough. we have to immediately intensify and enhance the deterrence to basically change putin's calculation about whether or not he would invade ukraine. let's not kid ourselves. he has a massive military buildup on the eastern border as your map shows. on the northern and southern plank, not an
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intimidation force, invasion force. we need to beef up the lethal weapons and we need to also improve our power. recently retired general says we need to declassify capabilities we have to let russia and china note vis-à-vis taiwan that we have the capability that we should bring to bear that would put you in a serious her to walker. we need to do all of that and finally immediately we need for congress to pass a defense spending bill. the defense committee to their great credit on a bipartisan basis has increased the funding for fiscal 22 by close to $40 billion and yet congress has failed to pass the funding bill and we are in a flat budget. dod is losing $6 billion a month in terms of purchasing power and the new bills have money to beef up ukraine, money to go against china, research and development
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increases for the hypersonic artificial intelligence and lethal weapons we need, just a whole list of things and so right now we are very worried about having a year long resolution where we would lose $70 billion worse than the worst situation we have had, so that's the situation we are in. i have a list for you the lethal increases we need in ukraine, we have to give ukraine the lethal weapons that russia fears the most we need to give them hell fire drones with hellfire missiles. we need to give them missile defenses and drones. maria: general, i'm really glad you brought up the nda as well as china because it's very curious to me that the g7 is all of a sudden interested in protecting democracy and protecting ukraine, making comments about russia and get we
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haven't heard a peep from anyone in the g7 about china and what it did earlier this year in hong kong by moving into hong kong, and deciding unilaterally to take over hong kong 25 years earlier than promised. i thought former secretary of state pompeo yesterday, i tucked him and we discussed china and russia. here's the secretary and i want your reaction to this. >> we need to challenge the chinese communist party on every front. when you hear a leader say they are preparing and they will fire on americans if we do so much as help the democracy in taiwan be successful, these are the things the administration must confront, business leaders have to confront. it's a serious challenge that is to the united states of america and we need to be serious in the way the trump administration was a serious to confront china on every front, diplomatic, economic and military. maria: i mean, what about that general in terms of china?
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is this administration going to show any strength, and he resolved against the party given its bad behavior across the world? i haven't even brought up covid. >> maria, i like to add one list of the things the secretary-- former secretary needs to confront china on, we need to confront them on their technological advances. as you have pointed out the unbelievable growth in the chinese military capability for qualitative and quantitatively. just like russia has this massive our motto against ukraine china has beefed up capability against taiwan, fighters, bombers, submarines, amphibious station areas, transport ship so we have to basically make it very clear that we are not going to allow china to compromise the independence of taiwan including if that means we have got to beef up the taiwan relations act.
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in 1979 when the delegation met including john glenn and captain john mccain and we also went to taiwan and talk to them about how we needed to basically protect them. as a marine, i planned amphibious operations and i know how difficult those aren't just look at the marines in the battle of iwo jima of world war ii. china needs to understand if they invade taiwan they will pay a very heavy price. we have to be-- beef up the capabilities. one last thing, taiwan developed long range missiles to have several mutual distractions like we have mutual weapons. you come to us and we will take down your financial structure. maria: i mean, you make so many important points, general picker right now, the congress is focused on that and daa,
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national defense authorization act and in that while they are giving fractional races to our military, when you look at overall defense spending and joe biden's budget, bernie sanders budget really, you are talking about a decline in defense spending when compared to inflation, i mean, why are we seeing a decline in defense spending as our adversaries across the world are investing more and more in their own defenses. there was a story the other day that china was spending more money on its defense than several countries combined. does this administration not recognize the severity and the threats that exist today facing america that we aren't even passing defense spending? and he has a build back better plan that's almost $5 trillion on a green economy on childcare and parental care and no extra money on defense. >> maria, i'm glad you
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brought up china's spending because right now they are now spending more on research and development of new technology both defense and commercial in the united states of america for the first time. you are correct, we have got to increase the level of defense spending and i give great credit to the committee. they added $20 billion of the budget request on a strong bipartisan basis. and daa's they are passing that we have to pass the funding bill. the funding bill gives the pentagon the spending capability. you also point out the internal pac-man of inflation and if you have 10% inflation that's a $40 billion hit to the defense budget, 3% is 20 billion, fuel inflation right now in a dod is five times what they budgeted. they are already-- you are correct, we have got to happen i think congress will consistently raise the defense spending level, no matter what the budget request is just like they did this year, but congress needs to pass the funding bill.
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we have to get access to the increased money so we can beef up ukraine, so we can beef up taiwan, so we can go after them in the pacific. maria: really dangerous days, general. dangerous times for sure. great to get your insights. thank you, sir and thank you for your service, general. merry christmas, general we will be right back. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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maria: welcome back. the number of covid cases rising again. the busy holiday season and health officials say some states see a surge due to thanksgiving gatherings, this is the country reaches a milestone as there has now been a reported 800,000 covid related deaths in the us. sky news is reporting the first uk death from the omicron variant has happened as well. joining me now infectious disease expert doctor amos. great to see you. welcome back. can you assess where we are? do you think things are taking a turn again? >> it depends on how you look at it. we always anticipated
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cases would increase as it got colder and people moved indoors and penta-- pandemic fatigue setting and the key thing is to keep people out of the hospital. cases will go up so we have to keep an eye on hospitalizations and in many parts of the country there's too many high-risk people that are not vaccinated at hospitals are struggling. i worked at a hospital yesterday and you're still getting unvaccinated covid patients in the hospital and that's unsustainable and certain parts of the country. other parts are better. we will have to see other cases actually translate in the hospitalizations and the key thing is getting more people vaccinated, linking people to monoclonal antibodies our goal is to shift the severity, but there's still too many unvaccinated to do that. maria: fully vaccinated means what to you? i mean, if you have had two shots either pfizer or madonna-- madera, how much importance are you putting in a third shot, a booster or is it just
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depending on who you are >> to me it depends on who you are. fully vaccinated should remain two doses of moderna or pfizer or one dose of j&j because the data shows you are clearly protected from severe disease and i think from a public health definition that makes sense. boosters are really important if you are above the age of 65, if you have high risk conditions and that's where boosters are beneficial. in general healthy population a booster may help you push a breakthrough infection off, but is probably likely to occur down the road so i don't think boosting to prevent mild illness makes much sense appeared to be boosters are about present-- preventing severe disease, so that's why i think we have to really be clear about where boosters are recommended and clearly have benefit versus where they may be optional with all marginal benefit and remember its first and second doses that keep people out of the hospital, not third doses. >> very helpful there.
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i want your take on this mask mandate as new yorkers are having to mask up again beginning today. governor kathy hochul issuing a new mask mandate across the state for all indoor spaces that don't require proof of vaccination. the state will revisit the order january 15. it's another democratic governor, colorado's governor said covid emergency is over in his state and has no plans to put mandate in place and you have differences happening at this point. are these mandates necessary of masking up indoors? >> for unvaccinated individuals masks are important to keep transmission down amongst themselves, but we have to have off ramps for the masks because it makes sense when you're in a situation where there's no vaccine, where you have unchecked spread translating into hospitalizations, but when you have vaccines and other countermeasures you have to stop looking just at cases and start to focus on hospitalizations and a severe disease and come up with metrics for
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what's driving the masked requirement and what's going to pull away the mask requirement and many governors don't do that. they kind of do things and you have no idea woes driving and what the triggers to pull them back and they need to articulate that and they have to talk about off ramps because your vaccines a rapid diagnostic test, monoclonal antibodies so they have to come up with a way to live with the virus that's not going anywhere and too much rhetoric is not focused on the fact that covid will always be with us and you have to teach people how to make better choices and reduce the harm of the virus, but mandates have to be tied to metrics and you have to really see hospitals. maria: great analysis as always. good to see you, sir. thanks very much for all the info and we will check back soon. a quick break and we will write back. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant.
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gold. your strategic advantage. maria: welcome back, time for the hot topic buzz, vice president kamala harris continues to face increasing criticism from the american people in a new interview, kamala harris dismissed the media coverage as, quote, ridiculous, she said. she did not address any of the questions regarding the departure of four of her high-profile staffers and reports of bullying in her office. as far as challenges in the role, she says if if it's coming to me it's because it needs to be addressed. no word on why she's not
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addressing anything, brian, because she was named border tsar but receive 2 million people arrested, apprehended at the border this year. 600,000 other that is got away. >> yeah, if you want to rehab your image, by the way he has rehab image every week. she talks about a problem that needs to be addressed, yeah, the border crisis needs to be addressed. it's almost been 6 months than she's been down there. i think you have been don there than she has. if she wants a better standing in the public eye, she needs to have better standing. whether you're taking inflation, whether you're taking border or whether you're talking crime, people see the problem but kamala harris nowhere to be found on that. heading to san francisco for the next image rehab interview where she will dodge everything people
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want to talk about. maria: you shall believable. you know border agents seized fentanyl to kill 2 million people, this happened this year, angela. >> i don't envy the vice president staff at all. they are trying to defend the indefensible. this is the exact opposite of the experience i had in the trump administration at the department of education where i served secretary, vice president, president who have upmost respect and that's because we had a clear mission. i mean, there's no greater reason to go to work every morning than to go fight for american students. we got to play offense. they are on their heels every day they show up to work. it's sad but not surprising at this point that she now has lower approval numbers than former vice president cheney after he shot someone. that's how serious this is. maria: yeah, angela and brian, stay right there, the next hour of mornings with maria begins
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right now. ♪ ♪ maria: good morning, everyone. i'm maria bartiromo, it is monday december 13th, your top stories right now, 7:00 a.m. on the east coast. president biden's approval ratings takes another letdown, more americans are fed up with bad policy as, quote, everything is getting worse. whether the 40-year high inflation driving prices higher for everything, a rise in dangerous crime across the country or the effects to have wide-open southern border, americans closing out the year hurting. here is wyoming senator john barrasso an sunday morning futures yesterday. >> you know, you look at the new inflation numbers and our economy is on its back. now he's pushing the so-called better build back better bill, this would break the back of the american people with taxes, with spending, with all of the
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mandates that people will end up paying more for just about everything. it will make inflation worse. maria: we will be bringing you the latest all morning long as markets trade off, we are well off of the highs to have morning. we've had a rally cut in half in the last 30 minutes. take a look. we are still looking at gains to kick off the new gains, dow up 36 and nasdaq up 55 right now after all 3 major indices were higher on the week last week. in fact, it was a very good week and one of record once again, dow industrials up 4% and nasdaq 3 and two-thirds percent and s&p 500 1 finished at a new record close on friday despite inflation data showing that inflation is at a 40-year high. the s&p 500 up 4% on the week kicking off this week in unchartered territory. european markets this morning mixed fractional moves pretty much across the boards right now with the ftse 100 down 7, the cac up 12 and dax higher by 150, that is up about 1%.
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in asia overnight, mixed story there as well. fractional moves across the board with the biggest performer japan, nikkei average up 3 quarters of 1%. mornings with maria is live right now. and we kick it off this hour with the most deadly tornado in history in kentucky. a series of tornadoes devastating communities in six states across the midwest and the southwest, grady trimble live in morning in mayfield, kentucky with an update. grady, good morning to you, what can you tell us? reporter: good morning, maria, we know at least 50 people have been killed here in kentucky alone, the death toll across the six states, those tornadoes hit, north of 100 people, everywhere you look here in mayfield you see destruction like this. that's not an exaggeration, it is hard to fathom the scale of this destruction, the level of which governor andy basheer says the state of kentucky has never seen before. the searching is still on today
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for people who are still missing, several days after the tornadoes struck. i'm with troy, the ceo of mayfield consumer products. a candle company, they have a factory in town and they were working around the clock. you had more than 100 employees inside the factory at the time the tornado moved through here. and you were frantically searching for people. i guess if you can call it good news, you do have good news to report that you've been able to track down more employees. >> correct. grady, we had 110 people working at the time on the second shift and, you know, there's been eight confirmed casualties and we mourn the loss of the 8 individuals and at the time we feared the worst because there was tens and tens of people unaccounted for, you know, at one point it was well above 40, that number has been declining without the casualty number going up because in this morning and i'm proud to report that we are down to 6 people unaccounted
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for. we remain hopeful and prayerful that those six people will also be found in the same way that those other numbers were which was, you know, people have been taken to hospitals and people had left, they lost their cell phones, as you know, still no power here and -- and the power and back to their cell phones, a lot to charge up and we've been able to find them. my team has been working around the clock trying to find these people so today, yeah, it's down to six. reporter: so maria, as you drive through town, this is what you see courthouses, private businesses, homes all destroyed as the search for survivors and recovery missions continue at this point. and we do want to mention mayfield consumer products is also set up a recovery fund. troy, i want to get that website for viewers. >> mcppi.com. reporter: thank you very much, our condolences with you and your employees. maria. maria: grady, thank you very
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much. our thoughts are with the people of kentucky and throughout the six states, grady trimble this morning in mayfield. some of the other stories that we are watching this morning. new high for covid deaths in the united states now surpassing a 800,000 coronavirus related deaths since march of 2020 in united states. this as roughly 34 states say they are seeing higher 7-day case average than they did before thanksgiving. the first uk death from the omicron has occurred as well. meanwhile new york state mask or vaccination mandate takes effect today. governor kathy hochul ordering restaurants, shops and businesses to require staff and customers to wear a mask indoors provide proof of vaccination or face a fine. they will revisit this order on january 15th according to hochul's office. pfizer announces it will require pharmaceuticals in all-cash deal
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worth $7 billion and complement inflammation and immunology work and gastro issues as well as dermatology and cardiology. now to foreign policy, secretary of state antony blinken standing firm on president biden's warning to vladimir putin that u.s. and allies will take unprecedented action if russia continues aggressive actions against ukraine. officials are concerned the russian military build-up along the border will lead to invasion. moscow so far is denying plans for invasion but blinken added that it's unlikely they'll be face to face meeting between putin and biden any time soon even though that's the first thing that president biden told vladimir putin at the summit and i hope we can meet in person next time. time for word on wall street. joining me right now capital chief strategist, katherine vera
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and brian and michael lee strategy founder michael lee. katherine kicking things off with you with the market that's in the green this morning. investors betting perhaps that inflation may have seen the worst at this point but you say it will get worse before it gets better. tell us why, what you're seeing and what the federal reserve is thinking now as it kicks off this two-day meeting. you look at the fed's impact on fixed income ahead of this meeting. >> absolutely. and the markets especially the fixed income markets with u.s. treasury yield at 150 when you have nominal gdp growth rates of 11% and you have massive economic robustness and inflation topping 6% with a red hot label market really scratches your head and you really scratch your head as to why the fed is enormously expansion, the fed is tapering which they are buying fewer bonds, buying fewer per month and the fed is following the
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markets. this is a fed that is very reluctant to precipitate the next economic downturn by basically trashing the markets and the way they do that is following fed funds futures, fed funds future say they can go twice next year so the fed will hike twice in the end of next year, my biggest concern next year, maria, is really yes, inflation, not covid, is fed policy risk. could the fed get it wrong and the market is pricing in that the fed is going to get similarly right but where could the fed get it wrong, one of two ways, one, they don't care if they give inflation a pass, inflation is going to come down because this year inflation was so high, by the end of next year, but what if it doesn't and the fed stays very inappropriately accommodative, the fed, the market will lose credibility with regard to the
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fed and its inflation credibility and that's the worst thing that can happen. the other thing that could happen the fed realizes that it's behind the curve on inflation which is two oh three times its target and, in fact, we do have full employment and the fed has to launch rates. the fed launches rates, goes more than the market expects, we should expect risk assets to tumble and we should be long goal and land and all of these defensive protective asset that is we talked about in the past, maria. maria: yeah, i mean, do you want to do anything different, though, ahead of the fed meeting i guess is the question katherine. we know inflation is 6.8% annualized rate. we know that there are valuations in this market that are sky high particularly in big tech. do i want to change my portfolio going into the fed's changes or shift in policy. >> yeah, you want to add to those defensive positions. you want to own gold just in the risk that the fed does allow inflation to spiral out of
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control. you want to hold land, you want to hold hard assets and you want to own real estate and you want to own defensive and you want to own health care, industrials, materials, you want to own, maria, those sectors that are both rate sensitive so when rates go higher, they benefit and inflation sectors, so that when companies can pass along those costs or they can even make money off an inflationary scenario because maybe the fed has got it right but maybe the fed has got it very, very wrong so that's where i think we need to position and head our position at a minimum going forward. maria: s&p 500 companies spent $234 billion in the third quarter, what is the impact of buybacks, your thoughts if, in fact, this continues? i mean, you've got companies buying back stock, i guess making the float smaller.
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>> absolutely, maria. when companies have good earnings as we have seen this year with the economy bouncing back and earnings projections and resulting better than expecting, that free cash flow went to buying back stock. keep in mind back in the height of the concern of the pandemic, in the second quarter of 2020 we reached 89 million for those buybacks so obviously 3 times to where we are now and moving forward, i think, companies that have still pricing powers, they're able to maintain margins, we have seen announcements for buybacks continue into next year, so you're right, by reducing shares in the open market helps to support valuation in price at the same time we still need to think about at the global economic recovery will continue into next year and companies are going to be making decisions on where to put capital, whether it's people processing things or keep the buybacks going because
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right now the cost of capital is still pretty low in the public market. maria: it's a great point. mike, microsoft is the leading company in terms of buying back stocks so far, you're bullish on tech, right? tell me where you want to put money within tech right now because the valuations are all over the map. when you look at big tech, they are up huge during covid. >> yeah, maria, microsoft is a great story and it kind of -- 22% of the sectors so if you play it the way i do it's xlk, which is the easiest way to get exposure to the tech sector. their revenue is up 22% year over year and one of the big drivers of that or the biggest driver that is there's zero cloud computing program. their revenues are up 50% year over year and if you remember microsoft is a bit of a late comer to the cloud and they are still growing and keeping share and cloud computing as a whole is expected to grow 19% comp pounded annually for the next 7
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years, so microsoft is even growing their office 365 at double digits year over year so it's a pretty spectacular operating, operating environment for microsoft. the next biggest is almost 22%, apple, i'm not going to stop using my iphone. iphone is underestimated in the market and that leads me to my favorite play which is nvidia stock, up 13% from all-time high based on like a little recent tech selloff and the deal falling apart due to regulatory concerns. semiconductors expected to -- to grow overall demand 25% year over year and we are coming up on 2-year anniversary of the slowdowns and the backlog of the chip shortage. this is going the take years to play out. so you have growing demand in addition to a backlog which, you know, points to spectacular pricing power.
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nvidia, i would be buying it after recent selloff. i think there's a lot of room to run, there's mountains of cash in the sideline in addition to what you were discussing, the trillion dollars and announced buyback under a trillion dollars, with every selloff is met with a wall of cash. so inflation going at 6.8%, that cash, you know, is in theory worth 6 or 7% less, what's the best play to financial asset and what are the fastest-growing sectors in technology and that's why we have the big multiples so i'm bullish on technology, i don't think it's going to stop any time soon. >> i love it that you like nvidia at these levels. it's had a huge year. we will be watching katherine vera, brian, michael lee, great to see you all. have a good monday, thanks very much for the great word on wall street. we will be right back. ♪ ♪ ♪
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maria: welcome back, now this, no mayor bill de blasio claims
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that new york city is much safer now than when he took over in 2013. he actually said this. murders have skyrocket since then and we have the numbers in front of us, compare 218 murders to 237 last year. 443 murders this year alone. joining the conversation all morning long, angela and brian brenberg. brian, new york city is one city. you have 12 cities that have actually been recorded record, record numbers of murders and i should point out that those cities are all run by democrats. your thoughts? >> the strategy by the da's in the cities and the mayors in this city is say, you have it all wrong, life is good here, crime isn't a problem, we have it under control.
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maria, i do not understand why politicians insist on telling people about things that those people can actually see with their own eyes. they can feel it. you live in new york city. i've lived here nor a dozen years, you know whether or not you feel safer on the streets and i can tell you, i don't know anybody in the city who says they feel safer now than in the 8 years before bill de blasio took office. if you've been on subway and 14th street and you've gone to get your kids vaccinated at a pharmacy and witnessed shoplifting after shoplifting in these locations, you know things aren't right. you don't tell people crime is better, you let people draw their own conclusion based on what they see and right now in places like new york city and elsewhere people are not seeing public safety, they are seeing risk and it's time for the leaders to start getting on board with what people are experiencing. maria: well, angela, i mean, the lies and the misinformation start at the top. why would bill de blasio think
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that it's a big issue to lie when you hear president biden say, oh, the build back better plan cost nothing, no it doesn't, it's adding 3 trillion to the deficit, it's all paid for, no it isn't, cost $4.37 billion. everything is fine, no, it isn't, a hundred thousand people died from fentanyl which is coming over the border. so, i mean, you know, bill de blasio saying that new york city is safe when you're actually at a record in terms of murderers is in step with what this administration is doing. maria: exactly, maria, it's an insult to the public to tell them not to believe what they're seeing and experiencing with their own eyes as brian mentioned. what a horrible insult to the victims of murders and violent crime whose lives are forever changed because of democrat run cities are totally failing to keep their citizens safe. i would also note that all the cities with the huge crime spike are also cities with strict gun
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control laws, that should be proof positive that gun control doesn't apply to criminals. maria: yeah, great point, angela, really good one. we will take a break and have a lot more right after this. stay with us. ♪ ♪ ♪
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maria: welcome back, a new
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analysis from the congressional budget office show it is true cost of the biden administration's run away spending. the cbo says that the build back better plan would cost $4.9 trillion and it will add $3 trillion to the federal deficit over the next decade. if the programs in the bill are made permanent which is what everyone is expecting, the cost a whopping $4.9 trillion despite the fact that the white house keeps saying it cost nothing and that it's already paid for. joining me right now is michigan congressman, house foreign affairs committee, house homeland security member peter meyer, congressman, good to see you this morning. thank you very much for being here this morning. how does the white house continue to get away with saying that this is all paid for and cost nothing when we've got the cbo saying it's a $4.9 trillion price tag? >> good morning, maria, it's absolutely staring and really nobody believed that it cost zero dollars, right, that was clear gaslighting from the beginning but the way that the cb -- the way that the structure
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build back better, you had 8 years of payments for programs that lasted one and the way that they stagger all of this and just the gimmicks around the accounting, you know, we all knew that it was going to cost more but frankly $3 trillion of deficit spending if these programs are made permanent which we all expect that they are, they are not being sold as temporary as one-year, two-year program, they are being sold as new entitlements, this is a significant hit to our deficit and really just shows how out of touch the biden administration is. maria: well, i spoke with congressman rokona last week and he said, well, yes, we had in there expectations that the child credit goes away in one year and the parental credit goes away in two years. well, if you want them to stay in the ten years that's $4.9 trillion. the gimmicks of saying massive
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federal programs will only be in existence for one year, that's how they get to this price of 2 $2 trillion which is completely misleading, do you think people see through that? >> i think they are starting too. when president biden says it will cost zero dollars, everyone scratches their head and say that can't be the case. the reality is they are building the railroad one at a time and even though at the very beginning they may have offset a lot of the expenditures on the temporary side, they are going to have to go back to the well and find new sources of revenue and president biden promised to in the raise taxes on individuals making less than 400,000 as insane what that is as we see inflation but he's going to have to violate that. there's not bottomless supply to find out and we cannot keep government at this size. maria: the only thing that outdoes the president's economic
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crisis is the crisis that we are seeing on foreign policy. g7 officials are warning russia that there will be massive consequences if russia invade ukraine. follows last week's call between president biden and russian president putin, your thoughts on what we are going to expect from russia as china is rising in the backdrop flying military jets into taiwan's defense air space. >> well, we have yet to see any significant pushback from the biden administration, sure, they are threatening additional sanctions and they are even say if russia invades ukraine, we will kick them out of the swift financial clearing organization to make it harder for them to clear their debts and facilitate payment, oil, there may be exceptions on energy transfers. but this is not an actual sincere, you know, hard line approach and frankly vladimir putin saw no significant blowback for invading crimea and
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annexing it back in 2014 on the obama administration and the peril clutching and threats coming from the biden administration are not going to dissuade that, there's a clear opportunity here and frankly the cost is not being raised sufficiently high for vladimir putin to not proceed. maria: well, you don't have any policy on china either. will there be any policy for accountability for china's bad behavior? >> well, president xi is lacks looking at what president biden is doing. they are looking to see how far they can press and frankly right now they have encountered more than just rhetorical resistance and until and unless that happens, we will continue to see our allies like taiwan and other countries like ukraine being pushed against and frankly i don't know where that stops but
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if you look at the track record on afghanistan, if you lack at the track record in the world, there's nothing that suggest that is this administration is willing to operate from strength. maria: thank you very much for being here this morning. congressman meyer. stay with us, we will be right back.
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maria: welcome back, the u.s. blacklisting another chinese company delaying its ipo as a result, cheryl casone with the details now, cheryl. cheryl: that is right, maria. postpone initial public offering in hong kong. the move comes just days staff company was added to investment blacklist in the u.s. due to work with the chinese military. companies says they are halting the launch to allow investors to consider the impact of the blacklisting and plan to relaunch the deal as early as this month. well, trucking companies is winding down business after 96 years. the texas-based company citing
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too much debt and inability to pay bills. regional operator is the largest trucking company to fail since 2019. central freight will start taking up new shipment starting today. they expect to deliver all freight remaining by december 20th. coca-cola reaching new recall, the company warning that minute made juices may contain foreign objects such as metal, washers, strawberry punch, lemonade and fruit punch, distributed in connecticut, maine, maryland, new york, north carolina, virginia. there's the stock in the premarket, it's up more than a percent this morning. finally, there is this, when decorating your home for christmas isn't enough for super fans to have holiday, you should try this. going viral for turning office cubicle to turn to ginger bread house. took her 8 hours, card board,
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duck tape, card board tubes for the lollipop, maria. i thought it was bad that i had a hallmark blanket. she beats me in the christmas craze today. >> i wonder how her colleagues feel about ginger bread house. thank you, cheryl. arizona is deploying the national guard after hundreds of migrants rushed the u.s. border in yuma. yuma, arizona is the next hot spot now. former trump senior adviser stephen miller joined me on sunday morning futures to discuss the crisis and who he says needs to speak out about it. >> the situation in yuma, arizona is completely out of control. yuma, arizona is under siege. the population of arizona is
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fraction of texas. this is bombarding an extremely size state compared to texas, they are totally, completely overwhelmed and there's two people, two people in the country responsible for this crisis and that's senator mark kelly and senator kyrsten sinema. maria: miller says they should be speaking about this crisis, we did have a statement from those senators yesterday. we have not heard much of what was taken place in arizona beyond that from kyrsten sinema and mark kelly, the two senators from arizona. joining me right now is national border patrol president brandon judd, brandon, thank you very much for being here. you were the first person to tell me when we had our team on the ground in del rio earlier this year that this crisis is broadens out into yuma. you told me about all of the thousands of arrests that you had made and your team was making just in about a week's
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time. tell me more about what you're seeing on the ground right now, brandon. >> it's completely and totally unfortunately. when you look at historically speaking the border patrol we've always faced one or two hot spots right now we are battling in four different areas, yuma being the newest area but we do not have the resources or the personnel to be able to handle 4 different areas where we have to battle and we are losing this war. when you look at the number of people that were taken into custody, that's about enough. but we are not even focusing on the dangerous aspect which is the got-aways and the reason why we can't focus on the got-aways is because we are pulling all of our resources into process and doesn't take law enforcement to process and those are the people taking them out of field and putting them to processing and leaving the bored totally wide open in yuma. we are taking resources from tucson and transferring them to
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yuma leaving the border in tucson wide open. so when you look at these numbers, you look at the total apprehensions but then, of course, when you look at the got-aways, that's the important part because we can't go after the criminality because of this administration's policies. this administration's policies, they are more worried about processing people and getting them out the door rather than going after the criminality that exist on the border. maria: unbelievable. so we are on track to have what 600,000 got aways this fiscal year. 600,000 people who got away. how do we know they got away. are they seen or surveillance cameras and these are -- these are the ones that we know are got aways, right? is this number much higher than this in reality? >> it is much higher. the 600,000 we are on pace for, those are the one that is we detect either via camera, ground censors, there's many different ways, the drones, many different ways to detect individuals. these are the one that is we
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actually detect. there's a good number of people that we don't detect. you talk to any border patrol agent on the ground like myself, we would tell you that we detect approximately 70 to 80% of what crosses the border so there's another 30 to 20% that we don't know about. that's the dangerous part and that's the scary part about border security. we cannot be pulling law enforcement officers out of the field and put them in processing when you can put anybody in processing. you can activate fema and put them and do them the processing. there's a lot of different that i think so that you can do rather than pulling law enforcement. we cannot go after the criminality that exist on the border, we are going to continue to see the crisis grow 600,000 known got away were on pace for 2 million apprehensions. we are on pace to shatter every single record that the border patrol has ever had. maria: and this dangerous track to get here is also something to
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note. i know that i've seen some of these ads on tiktok and social media where the mexican cartels try to get young kids, american citizens to be the getaway car to take these people from the border to houston and beyond, a mother and daughter were killed in texas this weekend after a human smuggler crashed into their car while being chased by police. the alleged smuggler, an 18-year-old american citizen, brandon. we continue to hear the stories because the mexican cartels are luring them on social media. >> yeah, and that's, again, if it weren't for policy, all of this would go away. when you look at everything that we could do, i get asked all of the time, do you need more resources, do you need more technology, do you need more infrastructure and i get asked this by u.s. politicians and i tell them all of the time, no, give me policy. don't pass this cost onto the american taxpayer. we don't need all of these new
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things. we need to go back to president trump's policies. if we go back to that, we have historic lows in illegal immigration and when we have historic lows and illegal immigration, united states citizens are protected. we don't have these people fleeing, running from police officers from border patrol agents, crashing into the united states citizens, we hear almost every day a new horror story where the united states citizen has either been killed or injured by somebody that's here illegally or somebody that's associated with criminal cartels. we have to stop this, we have to protect the american public yet this administration doesn't want to. they continue to pander to their far-left base which is dangerous for the american public. maria: this is just so dangerous it's unbelievable. we haven't even discussed the drugs. enough fentanyl seized to kill 201 million americans and you have polls to show how americans feel about it.
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poll shows 63% of americans disapprove of how president biden is handling immigration. brandon, your thoughts on where this is going? i mean, clearly, they refuse to call it a crisis. if they don't acknowledge it for what it is, do you expect any change? like, for example, remain in mexico, are you seeing the remain in mexico policy reinstated or are they blowing off the federal court ruling? >> no, they are completely slow-rolling the mpp, remain in mexico policy. they can't prove that president trump was right. they do it, if they implement this program properly, again, it will drop illegal immigration to historic lows. when they do that, it will prove to the american public that president trump was right. they refuse to do that. when you go back to look -- this administration is looking like it's a one and done administration. they are acting like they don't even care about a second term.
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they understand that they 4 years to get as many leftest policies in place as they possibly can and that's what it looks like they are doing. it truly does not feel like this administration even wants to run again. maria: well, maybe that's it. maybe they are looking at this as one and done. let's jam through as much as possible because they are completely ignoring the inflation numbers as well and trying to push through more spending. >> yeah, it's far leftist policies that this administration is going after. it is the exact opposite of what president biden promised on the campaign trail. he promised to be a centrist, he's not a centrist. he's pushing all kinds of policies that are very far left and, again, that's what is so scary and dangerous for the american public and i truly hope that everybody wakes up, the polls on everything from immigration, to economy to foreign policy, everything, this administration is failing the american public and we've got to wake up to that fact.
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maria: yeah, they sure are. brandon, it's great to have you on the program. thanks very much for all of your work, you and your team doing a great job trying to protect america, brandon judd joining us this morning. thank you, sir, in texas. >> thank you, maria. maria: we will be right back, stay with us. ♪ ♪ ♪
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maria: welcome back, it is the season of giving, lowes kicks off first hometown secret santa giving away company products and gift cards and winter fest event giving families access to holiday house kits and free consumers experiences throughout december. we want to talk about it. joining us lowes executive vice president and chief marketing officer, marisa, thank you very much for being here. tell us about the program how lowes is giving back. >> thanks so much for having me this morning. look, it is the season of giving and so while we've been busy making sure customers have everything that they need for the holidays we also believe very much this is the time for us to continue to give back as we have always done and this has been our centennial and reflected after 100 years after being a company what it it means to give back to the country with which we are born. we did something all year long
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for centennial called one hundred hometowns where we have increased one hundred communities in america. we took the product leaders and we let them be hometown secret and they each got 2,000-dollars gift card to pay it forward and you start to really create a ripple effect in that regard and it's just one of the things we are doing. i should -- i feel like given what's happened in recent days i should also net that thoughts and prayers are with the people of the greater kentucky area and actually in that regard this morning lowes is announcing a 1 million-dollar donation for immediate relief for those impacted by the tornadoes there going to key partners like the red cross and we have had associates on the ground as we always do helping and we are all about making sure that we can restore those communities and individuals' homes especially in
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a moment like crisis like this. thank you very much, good to see you this morning. >> thank you so much for having me. maria: marisa from lowes, quick break and then defending a disaster. that's what we are looking at. the mainstream media looks to offer the president a safety net amid the sinking approval numbers. we e will get into it next coming up in the morning's hot topic buzz. ♪ ♪ ♪ your shipping manager left to “find themself.” leaving you lost.
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s maria: welcome back. time for hot topics buzz oh rich nbc, telling americans not to blame president biden for slip offing poll numbers guess who is to blame. watch. >> some of it is out of their control -- mark and i had a discussion two big promises get covid behind us get rid of donald trump, covid not behind us donald trump still i will there not his fault but if that were in no-man's-land for him. maria: a brian brenberg, angela morabito with us is
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this another excuse for media to just dismiss joe biden's plummeting poll numbers brian, and another excuse to ignore just simply bad policy that is hurting americans? >> so that called grasping for statures your guy failed sorry he said a moderate he is not he said going to address the nation the problems he massn't he downplayed those problems, all he talked about is spending your money. when that is all somebody talks about, you may be start to loss faith in them, donald trump is a problem for biden by the way, donald trump gave us an economy pre-pandemic that everybody remembers they remember the wage gains the job opportunities, they remember, the growth, that is looming in the background this president has failed to deliver, in getting us back to that the no surprise, that people don't like it. maria: just unbelievable to
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watch chuck todd talk about nonsense instead of focusing what is important to american people inflation, crime, ripping across our country. angela: i think left is allergic to kfkt my only possible explanation why they worked hard to avoid it if you think about chuck todd's view arguing biden can't fame only be failed to paraphrase that famous saying especially surprised trying to say well you know covid was out of his control, covid was not a surprise to him. he ran on shutting down the virus and totally failed to do that even though trump handed himmed a playbook working quite well. you are watching excuses come out nowhere, i think people who paint colors have easiest jobs now left wing pr people they my have a it easier chuck
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todd is carrying their water. maria: i mean covid was a priority, or is a priority for this administration failing there more people died this year even though handed three vaccines, and not being tested at the border another issue angela brian to talk about stay right there next hour of "mornings with maria" begins right now. . . maria: good monday morning i am maria bartiromo monday, december 13 top stories right now 8:00 a.m. on the east president biden facing lowest approval ratings yet since taking office more americans fod up with bad policy, as quote everything gets worse, 40-year high inflation, rise in dangerous crime or effects
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of a wide-open border drugs human trafficking closing out the year hurting wyoming senator john barrasso with me yesterday on "sunday morning futures". >> look at inflation numbers, our economy is on its back now he is pushing this so-called "build back better" bill, to me i look at this, this will break the back of the american people, with taxes, with spending with, all mandates, people will end up paying more for just about everything, it will make inflation worse. maria: we will be bringing very latest all morning long as chuck schumer continues to push through the idea that he wants a vote on that spending and tax plan now 4.9 trillion dollars according to cbo markets have given up much earlier rally look where we are exactly where this market closed, on friday, the dow industrials earlier had been up almost 100 points just went negative, the dow down 1.70500
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in record territory, up 8 points right now well off the highs of the morning the nasdaq higher by 60 points, narcotics giving up a big rally start of this program and after very strong week last week major indices reporting very strong gains as money flowed into stocks etf stocks dow industrials lost 4% on week nasdaq up 3 2/3% s&p 500 finished at you time high, on friday, despite inflation data showing inflation is at 40-year high s&p up 4% on the week, beginning today's trading session uncharted territory european markets this morning mixed take a look we see selling here as well, ft 100 down 8 points cac quarante up just 11:00 dax in germany strong up 150 almost 1% in germany, in asia overnight mixed story all markets there moving fractionally with japan best he performer 3/4 of 1%
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"mornings with maria" is live right now. . >> morning movers arena pharmaceuticals surging up 91% following pfizer announcement that it will acquire the ka based biopharmaceutical company 6.7 billion dollars will require arena outstanding stock for 100 dollars a share this is an all cash deal, as you can see, arena up 91% pfizer, is also trading up this morning about 1 1/4%, harley-davidson also on the move this morning take a look, the motorcycle company taking electric vehicle division public through a spac a special purpose acquisition company allocating over 5 million dollars to new products values harley-davidson motorcycle i go division 1.77 billion harley up almost 11% on the session rest of the market giving up big rally earlier we are looking at a flat story
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now futures after friday's big market day last week's gains dow industrials up 11 s&p up 8 nasdaq hire by 59d all three closed higher on friday s&p 500 notching another record high, and its best week since february, the dow up 216 nasdaq up 113 s&p 500 all-time high 4712 up 44 1/2 points investors waiting to hear from federal reserve, the final meeting of 2021 begins tomorrow, central bank will hold a two-day meeting tuesday and wednesday, and is expected to speed up the end of bond-buying program, we are expecting two to three rate hikes in 2022, joining me right now cross bhashg chief investment officer bob dole, angela morabito brian brenberg great to see everybody bob thanks very much for joining the conversation let me get your take on federal reserve meeting beginning tomorrow what do you expect to hear.
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>> just what you said fed going to accelerate their tapering, giving the opening for raising rates should they need to part of the rally is markets say fed has it figured out i will not sure it that is simply, inflation is a problem. i think it i will recede some in 2022 maria but he -- not back to 2% where we got used to it. >> are we pricing in three rate hikes in 2021? what is market expecting. >> -- yeah. some more after that, of course, and that remember zero funds rate we've been quite sometime come up to effect because we had an emergency a crisis that long since passed zero is no longer o appropriator we have to worry did fed wait too long to begin the roe. maria: for sure, i mentioned the crises let's talk about covid, where we are, oil prices are on the rise this
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morning, there was optimism that variants omicron variant and impact there is waning here brent and crude oil, right now showing he levels of about 71 and change on crude oil. we know that they were up last week after that sharp sell-off a week and a half ago the first weekly gain for o both benchmarks in seven weeks what do you make of price. >> i think volatile o higher end sometime, we still have economy here in u.s. until some extent he o globally going well a demand for oil, and supply more a question mark that is why the price has moved up, i think it will stay at the higher end i am not sure whole lot more coming, the next few months but expect more volatility but don't expect you are going to be able to fill up your car with two dollar gas anytime soon.
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>> i am wondering if price of oil at 71 is going to cut into economic growth bob? we've seen a lot of volatility in the market, as growth has slowed down quite a bit, certainly third quarter. what is your take on 2022? what is the macro outlook, look like to you how do you want to allocate capital. >> i think maria, that we will still have a good economy next year, not as strong, as 2021. but above trend here so much cash out there, i agree with you, that some of these price hikes oil and other things, have not yet impacted the consumer they've been willing to go to go long with it i don't know how long that lasts the markets the second or point with all cost pressures can profit margins continue higher in analysts estimates i am a little concerned growth might be over estimated for 2022 there coin lie a problem
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so we will have to watch carefully my biggest concern to the markets is valuation. if inflation is going back to 3%, not 1.8 to pick a number i am not sure that 10-year treasury belongs at 1 1/2 period yield not sure pe on stock market blowns in 22or if that is what we are going to have to deal with we are going to need strong earnings growth for stocks to overcome some modest pressure on multiples. >> great point what about big tech apple, nearing a knee trillion-dollar market evaluation, bob numbers are mind boggling where do you want to be when you look at big tech. >> they are maria, i think depends on your outlook for growth in inflation. believing growth is going to be okay inflation is going to be stubborn rates creep higher economy is good my view you want more cyclical lower
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priced stocks p/e stocks, apple and associated companies have be ahead of as defensive stocks done well in economy in question done well with interest rates low and falling, i am not sure will do as well, if interest rates rise and profit growth elsewhere is abundant. >> meanwhile, companies are buying back stock in droves story in journal this morning that the leading companies are spending hundreds of billions of dollars buying back their stock, that should continue in the new year as welcome, what kind of impact does that have on the market. >> a positive along with corporation buying stock is american public would watch lots of money not know what to do with it the team argument there is no alternative that is part of the reason market moved up buyback as you well know became politically unpopular back around the crisis et cetera, but that is kind of gone by the way sided
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corporations have abundant amount of cash stocks relative to how much it cost to borrow money look cheap so buying stocks back, maria. maria: for sure bob great to see you this morning thanks so much. >> have a great week. >> and to you bob joining us from cross mark america heartland picking up pieces after deadly tornados shamed six is it states we are take you live to kentucky where devastation is unlike anything the state has ever seen, then the advice of goods hitting a 40-year high texas congressman kevin brady here to discuss what white house needs to do to get inflation under control. why are they still pushing through massive spending and tax plan, peloton goes on damage control quirky response after new -- the city reboot sent stocks, the big buzz don't miss it you are watching "mornings with maria" live on fox business. .
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maria: welcome back. edeadliest tornado kentucky history more than 100 feared dead this morning after storms devastated six midwestern states graded in mayfield kentucky with dait you what can you tell us. >> good morning, the town of mayfield kentucky this morning, has practically been wiped off map in term of buildings about everywhere you look likes like this exaggeration you went out after storm moved through were rescuing people from that factory. >> we tried to start up almost the factory rescuing people out of there amazing, you couldn't find the campbell factory once we found it revised people under there
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getting them out, we saved, probably -- 12, 25 people that moment during that. >> what was that like were they calling for help amid rubble? hard to imagine. >> tried -- you couldn't hear them, but a lot of them had cell phones giving signals calling to people on the outside trying to tell them where they were in billion we were on top of refundable trying to locate them that way finding a whole lot it was working out well, as far as getting people out of there amazing, because like you say people under this refundable it is just devastating. >> part of your job as county commissioner now is going to be the path forward as you look around here this morning the infrastructure, that a town needs, is gone. i mean houses are gone private businesses are gone banks are gone courthouse, behind us
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here, is -- school buses garage, all buses basically inoperable. >> the process to try to move forward clean up debris started a little bit yesterday, next trying to get the monetary help in here fema different places to try to get things back on the people back on their feet, some business owners trying to move to other locations in town that wasn't hit as hard start bids back up some pharmaceuticals different things the process moving forward just try to get things going again going to take a long time unfortunately, because everything that was important in this country is pretty much gone now. >> it is our condolences with you as we see destruction here today, were also the people here in kentucky. the five other states maria impacted by these storms. maria: wow. what a scene grady, our condolences as welcome thank you so much for this reporting we, of course, will keep a spotlight on developments, thank you grady grady trimble
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in mayfield kentucky, stories we are watching this morning, president biden desperately trying to save massive spending agenda high tax plan to meet request joe manchin this week cbo said the biden "build back better" bill will cost 4. 9 trillion dollars add three trillion dollars to deficit if made permanent proving that i have been reporting for months true cost is closer to 5 trillion dollars, despite joe biden keeps tell us it won't cost anything claims is paid for, secretary of state mr. bl firm on president biden's apparently warning to vladimir putin u.s. and allies will take unprecedented action fb russia continues its grave actions against ukraine. officials are concerned the russian mill buildup along the border of ukraine will lead to
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invasion, moscow denying any plans for invasion into ukraine, also said unlikely there will be a face-to-face meeting between putin and b anytime soon even though joe biden asked putin if we could do it in person next time. redistricting in states across the country will likely help republicans gain political power data finds new maps creating more where voters lead toward one party 22 states completed maps only 12 competitive districts compared to previously 25, analysis excludeded states with single control a district but included georgia house map has not formally become law but expected to do so in georgia. quick break then effect of president biden's run away spending higher tax plans house ways and means member kevin brady here to weigh in on cost of the plan and impact, jussie smollett could be on the hook for wasting you
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>> welcome back congressional budget committee revealing
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true cost of president biden's associate spending tax plan "build back better." ep projected to cost 4.9 trillion dollars, add three trillion dollars to the federal deficit the white house maintains it comforts zero and fully paid for as inflation is now at near four decade hi senator john barrasso joined me yesterday on "sunday morning futures," to discuss the impact on the american people. >> this will break the back of the american people, with taxes, with spending, with all mandates people will end up paying more for just about everything, it will make inflation worse taxes will go up, all tax experts will tell us that at least a third of middle america will pay a lot more in taxes, the impact of inflation on people's lives now whether you want to call it hidden tax or not, people's paychecks are not keeping up
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people are hurting and the biden policies made it worse. . maria: a joining me right now texas congressman house ways and means committee ranking member kevin brady always a pleasure to see you thanks so much for being here. >> good to see you maria. gentleman so we just heard from senator barrasso say a third of middle america will pay higher taxes, congressman before you go into cost of this plan, tell us what is in it i in terms of tax increases. have they already breached their promise that nobody making 400,000 dollars will pay higher taxes? what are the plans in terms of higher taxes? so we fully understand. >> yeah maria still in house version there is no question the president violates his pledge not to tax americans making under 400,000 dollars, he does that in a number of ways, ironically. as he is giving two out of three millionaires a tax break raising taxes, immediately on about a third of middle class
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families, in number of ways including, the taxes on business the taxes on tobacco, the number of those issues. and, by the way, you can't -- 1.2 trillion dollars -- on to main street businesses and companies without those taxes landing on workers and middle class that is exactly what it does then you tie it, of course, to the higher inflation where we saw friday, this is unbelievable but most he americans spend time hoping to get ahead, and because of inflation, under president biden they've given back three years of their real wage growth, getting ahead, given back three years of it because the president's boils this bill senator barrasso said will make things only worse for those families. maria: i mean the lack of honesty about this plan from your colleagues, in the democratic party is really a massive disappointment that they could just spew out
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mistruthths, committee for responsible budget says today's cbo analysis highlights the large cost of permanently extending expiring policies in "build back better" act aren't expirations do not make policies cheaper they just make them shorter complain gimmicks in this plan they say child tax credit goes away one year but don't really want it together away in one year. >> nor will it, you know, democrats have been clear want all provisions permanent, in effect by using, one year or two or budget gimmicks where they take back money at the end of the decade of course never happens that is why you see a bill literally in the house every democrat knows they voted for nearly 5 trillion-dollar bill the president speaker i was on house floor leading position
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against it, they he insists costs adore there is only two ways to pay for this in future one raise taxes on working families middle class families they have to do that or they need to cut back on medicare, social security intimacies they make up two-thirds of the budget which is it raising taxes on working families or cut being medicare and social security? >> extraordinary they push this forward as inflation in faces every day up close and personal at a 40-year high because consumer price index up 6.8% in november year-over-year this is is the fastest pace since 1982 prices for vehicles skyrocketed, 11% largest increase on record you've got men's apparel living room kitchen dining room furniture all-time high
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we are paying more for everything, from food to furniture to demand why is it chuck schumer continues to say we want to get a vote on this a story in the adjourn says president biden is us going to try to convince joe manchin this week to vote for it you do they not see what rest of us see in terms of inflation? what is impact of this plan on inflation? >> so as you know he they've been very dismissive about inflation denials for months and month will go away really isn't hurting families. this bill makes it worse a number of ways, spending, five trillion dollars keeping that -- inflation -- but really the policies within it, they make the labor shortage worst in this bill, which will drive inflation they do that by no longer requiring earnings to work in child tax credit and they -- they really he exploded the subsidies in
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obamacare so much so between two policies, experts predict two million fewer workers available because policies, so you are shoveling more money into the economy with fewer workers supply chain problems anyway so inflation going higher probably lasting longer, joe manchin knows this, he also knows when president calls him president is nearly one million jobs short of his promises from the last covid stimulus so why would we believe the promises he makes on this bill? >> a yeah, it is tretd extraordinary congressman, great to see you to walk us through it, quick before you go, on nbaa i know work to be done in senate in terms of of national defense authorization act is there movement on defense spending given the fact that china and russia
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riding or are we accepting decline, inflation up 6.8% a decline in defense spending. >> it is, but maria i think here is good news, i think our goal as republicans conservatives to protect president trump's rebuilding of militarily one signature wins in victories, as president this actually adds to that budget including, demanding answers on that horrible you afghanistan surrender pay raise to troops i tell you we started out in much better position, defending military spending we still as you noted have work to go the fear that this would be cut severely this fear there we have to fight this every year i think first year off to much stronger start than anyone anticipated. the. maria: all right congressman good to see you this morning thanks so much congressman kevin brady what gets done
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before year-end thank you, sir. quick break chaotic crime scenes becoming a regular currency crime rising in major american cities civil rights attorney leo terrell here saying poor i leadership to blame for 12 cities in america reached record my murders, california doxxing, supply chain crisis far from over we get a live report, in los angeles, when we come back. . as your broker, i've solved it. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to wealth management. ♪ ♪ ♪
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. maria: welcome back. city chicago wants jussie smollett to pay up cheryl casone with details. cheryl: that is right, maria. the city confirming will sue sulet for costing to investigate fake hate crime, the brothers hired to attack them also ready to sue arc legal team over claims of
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damage to their reputations and careers. lawsuits can go as juror says jussie smollett's testimony led them to believe he was lying on stand that juror said, only finding him guilty on five of six charges -- >> commission investigating privy equity firm tied to you wealthy well-known families including a coors family looking into when owner of 1001 voices management firm used investor funds to cover personal expenses, firm says they are fully cooperating with that investigation. well, a company in northern irlavined new world railroad for largest vegan burger, 22 points tomed 10 pound lettuce 11 pounds faux meat the rest donated to a local homeless charity some headlines from
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here back to you. maria: all right cheryl such that, well robberies across the country continue armed smash-and-grab looters, breaking into high end exotic car dealership in chicago saturday stealing millions of watches, 10 commerce including children in the showroom during the robbery. mayor light foot blaming the store she says that they around the doing enough to make safety a priority, nuvenl joining me civil rights attorney talk radio host fox news contributorly terrell great to have you this morning thanks so much for being here to weigh in on what we're seeing across the country scary out there leo. the union boss, of the los angeles police department, is warning people to stay away from los angeles. he says in l.a. like the purge, one night for in a year where they allowed all crimes to happen it is a reality
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show, but he says it is like the purge 365 times worse your thoughts. >> thanks for having me he is absolutely right. maria never in my life have a police officer said don't come to the city it is too dangerous, the sad point it is true if you are coming to los angeles, don't come here i live here, it is dangerous! you talk about chicago, maria, this is what is happening in democratic cities a pat earn in practice democratic cities they don't put crime prevention as a priority they are basically allowing criminals to rob and steal, and they get relief within 24 hours, democrats do not prioritize crime maria. maria: we've had, murders hit record highs in 12 cities, all of those cities run by democrats, what are they doing wrong? i know that the bail reform
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has failed miserably in new york. where you are taking in for a crime processed but right back on streets so that person can commit another crime. >> a let me be very clear, the democrats do not priors crime laurie lightfoot second to bill de blasio as worst mayor in the country they are lying about the numbers, and here is the problem if you are going to refer to you have to prosecutor and convict democrats antifa black lives matter the base of the democratic party and they don't put their own base in jail. that is the problem. democrats do not prioritize crime if they did would not only arrest they would convict and incarcerate, they are soft on crime, maria you have the squad that that congressional squad talking about, jail bail reform and releasing people, they just don't care, i tell you right now democratic
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cities are not safe in america. . >> unbelievable 12 major cities set historical records for murders in 2021 two weeks left in year philadelphia the nation's sixth he largest city recorded 523 murders as of december 7 surpassive he former milestone americans taking notice leo look at this poll, new abc news ipso poll finds 36% americans approve how biden is handling crime 61% say they disapprove, of course, they disapprove a record number of you murders what should joe biden do. >> first of all joe biden is muzzled by extreme left let me be clear as possible democrats talk good game about crime helping people he of color, it is black-on-black crime that is being happening in chicago. we know maria every friday you
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and i come on this show every friday would predict number of murders, shootings in democratic cities especially chicago. they don't address crime. it is not on their radar, and joe biden if you are going to expect him to do something about crime, he cannot, because he is muzzled being dictated by extreme left, and extreme left everyone in this country knows do not put crime prevention as a priority. so therefor, we are at -- i want to be clear don't come to los angeles that police union officer is absolutely correct, it is dangerous here, i live here and i know. he is absolutely correct maria. maria: voo that is unbelievable, part of the issue in my view, is the fact that starts from the top, leo. you know, when thugs see the leader of the free world blowing off law brazen brassen lawlessness in its
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administration, well, they figure i might as well smash-and-grab let me get my hammer smash into a window joe biden just blew off the supreme court, federal courts ruling that he has to remain in mexico reinstated at border telling us border closed no, it is not 600,000 o gotaways year-to-date when they see lawlessness why not create their chaos. >> there is no reason not to do it let me you are absolutely correct you and i could walk into a walgreen right now steal 800 dollars knowing not going to jail going feedback released within 4 hours when you see lawlessness at the southern border when you see a absolute admission of the aide across border guy watching says why not me it is frustrating because we the number one priority of every civilized
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societal is to protect the citizens, joe biden democratic leadership basically abandoned representing probing citizens in this country, if people unfortunately have to live in fear, during the holiday season. . >> very troubling leo we keep a spotlight on it, of course, the important issues, american people want to hear about, not pronouns day at state department leo terrell thank you so much. >> thank maria. >> for what you are doing we will stay away from los angeles for now, leo terrell we are less than two weeks away from christmas consumers worried about getting packages on time due to supply chain crisis kelly is in los angeles with more good morning to you. >> yeah, good morning maria, it is crunch time as holiday season upon us biden
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administration out the improvement, you have inflation 6.8% last week he omicron threatens even more the port clog first some numbers might be misleading report of improvement over staitdz if you look at 40 mile port zone, look at that 28 as of this weekend a lot of shipdz waiting for offshore, so if you add 67 outside the zone total shipped comes to 95 near all-time high, there are also significant problems across other parts of the supply chain particularly storage front, empty containers stacking up here, and prevents loading of goods that need exporting party worker he shortage, i spoke to executive director of the port of l.a. emphasized this isn't a quick fix. >> a 24-7 operation is going
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to take some time, to put in motion. truckers can only drive 11 hours a day a shortage nationwide plus your support, are warehousing complexes throughout southland typically operate during day only, we're prying to bring on more staff run longer hours. >> for now experts including, say that is through end of 2022. >> we'll be watching, big moments for those waiting for gifts, for the holidays, kelly. a milestone for bitcoin what it means for future of cryptocurrency we are on it when we o come back into crypto, tune into how america works at 9:00. .
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powering possibilities. bitcoin touching milestones, blockchain.com reporting 90% all bitcoin mind as of this morning, that means 18.89 million bitcoins out of 21 million in open market rage supply not expected to be mined until february 2140,
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joining me aba labs president john wu thanks very much for being here what does all this mean for the future of cryptocurrency. assess the market for us, today. >> hima great to be here the market has been very interesting i think if you look at overall crypto market, it has been a measure of risk no different from high growth companies internet companies in fact you can look at high growth internet when they starred selling off slight lag to entire crypto market, however more importantly i think if you look underneath the hood of the entire overall landscape of crypto you see a lot of dispersion, bitcoin is up 70% if you look at egg they arium up 500%, i know i am operating caused by when ones
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have actual utility and use when adoption, the correlation of adoption is very high so, the real story not just the sell-off with high growth risk appetite but also underneath the hood which is where is the case happening. maria: i think that the blockchain in chain is going to yield so much growth, and opportunity for so many your company chosen by master card, to solve global blockchain challenges tell me about that because blockchain is different than crypto. . >> that is right, maria. . very good point. so being part of the start path program from mastercard real life proof of cases permissionless blockchain for especially, one of the goals
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of avenue launch for enterprise starts with deloitte, deloitte chose avenue latch to build on top for adoption for clients, in need of disaster recovery, i am thinking kentucky, not sure use for that an example where we can go in future. mastercard in start pack program he chosen avalanche underlying substrate fast line to build use cases whether in payments or whether in on ramps, or other great use cases loyalty, adoption programs, a very big step in high performances chains here to stay no different than ios android.
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>> how do you see financial services changing with blockchain? >> well, if you look at decentralized ecoism everything happening pto p, lending and borrowing extremely low rates you have high rates decentralized finance part of the reason cutting out middle man two products traditional financial system a lower return but safer because you have people protecting capital, regular lated more people who are, that are securing. a p to p, more one to one high regards people need be aware higher riv so i think two parts developing right now. >> for sure, and that is going to change the way we
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operate, in so many industries great to see you this morning. thanks so much john wu, peloton last laugh see company response to that on hbo's reboot of sex and the city the big buzz and it is next. . the evolution of sports betting is now b2b technology for restaurants, bars, casinos and consumers. the future of sports betting. elys game technology.
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>> welcome back time for the big buzz of the morning peloton gets the last laugh after the stock
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dropped after the reboot of and the city. watch this. >> new beginnings. >> to new beginnings. you look great, you feel great. another ride? life is too short not to. >> the new commercial features reviving his character has a heart attack after finishing a workout on the peloton india move the stock right after and just like that it aired thursday and 19 month low. the stock this morning up wanted three quarters percent, would you think about all of that. >> i think it's absolutely brilliant peloton has understanding their product would be in the new series but they did not know how it was going to be used in the murder
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weapon, what's amazing about this, they responded to it the iconic character. i think terry brad shaw has suffered enough, she needs to get some revenge and i hope the and the city producers are ready to respond to that. >> it was ridiculous as the stock trade was down on that, ryan and angela great to be with you, have a good day. have a great day everybody "varney & company" begins right now. stuart: good morning, everyone there's one stock to watch about all of her, the widely held stock the most valuable company it is apple, were watching it because if the stock hits $182.86 the company becomes the first to hit the first 3 trillion-dollar valuation level it's really close and by the way j.p. morgan says that is going to $210 a

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