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tv   Mornings With Maria Bartiromo  FOX Business  December 30, 2021 6:00am-9:00am EST

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let's get the heck outta here. - [narrator] where a single mistake could be their last. (clanging) - john, let's not do that. is there a... holy [bleep]. (ominous music) cheryl: good morning, i'm cheryl casone, i'm? for maria bartiromo. it is thursday, it is december 30th. your top stories at 6:00 a.m. eastern actual. an economic misfire from the biden administration, the president lauding 2021 as an economic success, saying just one analyst described as quote, the strongest first year economic track record of any president in the last 50 years, this as americans deal with inflation at a 40-year high, rising gas prices and supply
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chain shortages. meanwhile, president biden is set for another phone call with vladimir putin today to discuss the ongoing border tensions with ukraine as putin looks for assurance the country can never join the nato alliance. we're watching the foreign policy implications in particular for the energy markets all morning long today. speaking of your markets, taking a look right now, we have another strong kickoff to your morning right now. as you can see, the dow higher by 6, s&p is up by about 4, nasdaq is up by 30. this after a mixed day on wall street as the dow and the s&p 500 finishing, though, in record territory last night. the dow nabbing the first record close since november 8th. as for european markets, they are mixed and moving fractionally as you can see on your screen. ftse down, the cac slightly higher, there is pressure on the dax in germany. as you can see for asia right now, uh huh a mixed story there, all the markets there making fractional moves. we've seen this play out all a
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week. the kospi the worst performer there. "mornings with maria" is live right now. ♪ cheryl: your morning mover today, it is biogen. taking a look at the storks it is under pressure, down 6% an change, the stock losing ground after a south korean firm denied reports it was in talks to buy the u.s. drug maker. according to korea economic daily, biogen you approached samsung biologics to buy its stock valued at more than $42 billion. biogen which makes drugs for neurological diseases currently has more than 30 new drugs in its pipeline but still that is a big mover today on this thursday morning. well, getting back to the broader markets for all of you,
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futures really we've got another green start, another kickoff. we've been talking about the santa claus rally. looks like it's still going. i don't want to jinks anything. the dow and s&p 500 bows closed as new records yesterday, the 70th record close for the s&p this year. we have weekly jobless claims coming out this morning at 8:30 a.m. that could be a market moving report. we'll bring that to you live when it crosses. i do want to bring in cornerstone wealth managing partner jeff carbone into the conversation this morning and joining me for all three hours, those two lucky people are campus reform fellow and former department of education press secretary, angela morabito. angela, good morning. and macro trends advising partner, mitch rochelle. it's great to have you here this morning. jeff, i've got to go back to the santa claus rally. sometimes we joke about it, it's a silly thing, but really it has
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taken on new meaning for 2021 because this rally is flying in the face of omicron concerns around the world and then also worries about the economy for next year and growth expectations that a have been lowered. >> absolutely. good morning, cheryl. happy holidays, everyone. yeah, certainly the santa claus rally has been in full effect, maybe as you mentioned this morning futures are a bit flat, a little flatter yesterday as well but for the week we're up, s&p is up about 3%, a little bit more, nasdaq a little better than 2 and we're -- i really expect this rally to continue at least for the next few weeks. we'll see the tax loss selling concluding here but then we'll have the january effect kick in and january tends to be a strong month. we're going to watch that at least until the fed meeting takes place on january 24th -- i'm sorry, 25th and 26th of the month. we're in the camp that this is going to continue maybe for
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another few weeks at least. cheryl: well, is there anything that worries you? is there anything that could put kind of a wrinkle in that prediction, jeff? >> well, barring anything major, we're going to see the third straight we're of good, solid low double digit returns from the s&p. so when i look out into the new year, a few themes that i'm looking at and our team is looking at, the first one is going to be the inverse relationship between volatility and liquidity and the relations between those two. with the fed embarking on a tightening cycle, investors have got to be ready for more volatility ahead. we're not concerned really about tapering and it's not -- that's not the big one. it's going to be once the quantitative tightening is over, the risk really opens up for the equity markets and as you mentioned, from washington where we heard more about the
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transitory inflation, it's really sticky inflation and that's going to force the fed to probably be more reactive and more aggressive in their heightening and even from their own meetings, most of the year we were expecting maybe one rate hike in 2022 and now we're under the p impression and thoughts of we're going to see three. so it's more aggressive rate hike. another theme we're watching is going to be the election and politics with the build back better act kind of looking to have stalled, midterm elections are going to be in our view a bigger part of the first half of the year so we'll see what's going on with the politics and the elections and remember that when we go back since 1931 midterm elections, average returns from the s&p is around 6%. non-midterm years is about 9. so a lot of those returns from the midterms come in the back half of the year so we're going to be watching politics and the
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third thing we watch -- cheryl: that's a lot, jeff. >> it is a lot. cheryl: i want to bring in angela. let me bring in angela morabito into that. he's bringing up something that has been happening now for the last two, three years in particular, the crossroads of politics in the markets, angela. you're on the political side. if there's a seed change in washington that could be for us a market positive but what do you predict? >> i think the connection between politics and the economy is only going to get stronger. we live in a world now where literally everything is political, from where you shop to who you hang out with. we're more divided than ever and that's tremendously unfortunate. we're starting to see politics become more and more people's identity. that influences their behavior, not just as consumers but as investors so these things are going to become more connected, not less. it should give everyone cause for concern that politics is having this level of sway over
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the free market. cheryl: yeah. and jeff, you know what? the volatility story that we've seen, it's been playing out throughout 2021. a lot of that of course is the pandemic. that doesn't seem like it's going to go away in 2022. >> not at all. but we're reminding our clients and investors it's the focus on quality, right, with the volatility, it's quality and cash flow. so strong free cash flow, profitability metrics are key. expect multiple compression on valuations and look for those positions and stocks that have high free cash flow multiples and a it may be a good time to lessen -- lighten up or avoid some of those high fliers. they've done great for the last few years but the rules of the game are changing and investors and clients need to adjust to a new strategy as well and that's what we're doing with our
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clients. cheryl: that's why we have great guests like you they that join us here on "mornings with maria." jeff carbone. happy new year. thank so much for joining us this morning. we're just getting started. coming up, poor planning from the white house, biden's plan to combat the pandemic leading to record high case numbers and testing lines that are still around the block in several parts of the country. what we can or cannot expect, frankly, from this white house. that's coming up next. plus, guilty as charged, ghislane maxwell found guilty of nearly all charges in the jeffrey epstein sex abuse case. will she start naming names as she faces decades behind bars. also betting against bitcoin, what crypto investors are looking at going into the new year as bitcoin continues to face pressure this week. do not miss a moment of it. you're watching "mornings with maria" live on fox business.
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cheryl: some of the top stories we are watching for you this morning. ghislane maxwell facing decades behind bars after being found guilty of sex trafficking for billionaire jeffrey epstein. she was convicted on five of six counts after five days of deliberations, her defense team vowing to challenge the verdict. >> we firmly believe in ghislane's innocence. we are very disappointed with the verdict. we have already started working on the appeal and we have confidence she will be
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vindicated. cheryl: reaction pouring in from maxwell's victims, an nie farmer saying -- any farmer saying even those with great power and privilege will be held accountable when they exploit the young. maxwell faces up to 65 years in prison. well, a decision on the trump era remain in mexico policy could rest in the supreme court's hands. the biden administration asking the high court to intervene and decide if it's required to continue the program which mandates asylum seekers at the southern border wait in mexico until their caseses are heard. buy ben campaigned against -- biden campaigned against remain in mexico and tried to ditch it after his inauguration but he was blocked in federal court. major flight cancellations heading into the sixth day. 1,000 flights from or into the u.s. have been canceled already for today. it's only 6:00 a.m. eastern time. all of this amid the staffing shortages and bad weather reports across the country.
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some experts are predicting the mass cans consideration -- cancellations could drag into the new year. jetblue saying they are going to trim their flight schedule through mid-january, the stock fractionally lower this morning. well, cases reaching a new pandemic record yesterday of over 265,000 average cases a day. president biden campaigned on shutting down the virus, by saying the federal government has, quote, more work to do in getting out tests to americans that want one. white house admitting the contract to get more rapid tests won't be signed until next week. many are waiting hours in line in order to get tested. cdc director facing heat after cutting the quarantine rules from 10 days to five. here's her reasoning. >> when people need to get back to work, what is it had they will do? >> sounds like the decision had as much to do with business as it did with the science. >> it really had a lot to do with what we thought people
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would be able to tolerate. cheryl: angela morabito, i mean, i think for one thing, i mean, she was trying to not shut down the economy. i'm going to give her credit for they that you would have a society that would not function if they kept the initial quarantine rules in place. however, it seems like a band-aid on a big problem here. angela: i think band-aid is exactly right. it is not a cure and we're watching people who have treated the cdc as god essentially for the past two years, he realize that the cdc is made up of people, that it is entirely fallible and subject to human influences. i've seen one group t get it really right, know, that's a classical christian school in alexandria, virginia, sent out a an e-mail to parents that i think the cdc ought to take notice of. it said we are going to treat covid like any other illness, any cold or flu, that may pop up in a classroom.
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we are not going to up-end these kids' lives again. having worked in the department of education under the trump administration, i cannot tell you the positive difference that way of thinking would have made for children if school districts and especially the teachers' unions realized that is the way to go. we can't look at the federal government as the solution to everything. we have to get smart here. and i think that school is a wonderful example of had that. cheryl: but mitch, the criticism of president biden is that he campaigned on the fact that he was going to kill the virus, stamp out covid, donald trump was a failure, he was going to fix it. mitch, he has not fixed it. mitch: he hasn't even signed the contract to get the half billion tests he promised. hes has jimmy carter like lines, reminiscent of what i remember in the '70s, yes, i'm that old, of people waiting in line four hours or gas. in florida, literally lines
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stretch for miles. there were four, five hours long for people to get tests to find out if they were infected or if they wanted to go to work or do something that they needed the test. this is really a bad look for the administration, claiming you're going to shut down a virus and then have people waiting in line to get tests in record high levels of infections. not good. cheryl: and i'm glad, mitch, you brought up the fact about -- he said we're going to get 500 million tests, we're going to sign a contract. the contract is not signed and when it finally does get signed it's not going to be until mid-january before the deliveries start and the pandemic -- if you listen to fauci, the omicron variant is going to be pretty much halfway over by the middle of january, it's already going to be spreading across the country and dissipating by the end of january, behind the curve, behind the ball, that's all we've seen from this administration in this disas tear that we've seen with -- disaster that we've seen with omicron. we have a lot more coming up. the trial of the century, jeffrey epstein's madam,
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ghislane maxwell, could face life behind bars for her crimes. we are going to talk about the verdict, it broke late yesterday. a lot to go through. plus, biden's bad border calls, the president is still pushing to end policieses that have worked as we see record numbers of migrants overwhelming the southern border, they fixed it, now they're going to unfix it. we're going to talk about that. stay with us. ♪ so we keep waiting. ♪ waiting on the world to change. ♪ we keep on waiting. ♪ waiting. ♪ waiting on the world to change. ♪ it's hard to beat the system. ♪ when we're standing --
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>> ghislane maxwell guilty of one of the worst crimes imagineable, facilitating and participating in the sexual abuse of children, crimes that she committed with her long-time partner and co-conspirator, jeffrey epstein. cheryl: ghislane maxwell found guilty on five of six counts including sex trafficking, after years of working and having a relationship with disgraced financier, jeffrey epstein. maxwell faces up to 65 years in prison. her defense team is vowing to you a-- appeal the conviction.
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joining me is fox's legal analyst, mercedes coleman. what do you make of the fact her defense team -- of course they're going to double down and say we're going to appeal but this was a pretty bruising verdict from the jury. >> undoubtedly. she just couldn't overcome the compelling testimony from the four accusers. it was agonizing. three of the four of the accusers said she -- that maxwell actually participated in the sex acts. how she could possibly think for a moment that she could overcome it, so not only was this come peelings testimony that came in from the accusers, there was also bank records that shows that open teen -- epstein funneled maxwell millions of dollars when they were together. she didn't work for him. why was he sending millions of
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dollars. the prosecutors found a letter she wrote to herself, of course the defense attorneys were yelling it was done by someone else and they tried to say to the jury it was some sort of conspiracy. in the letter she talked about how wonderful the relation ship is, she said it in a third person and at the very end she talked about the fact that epstein liked little girls and she understands that. all of that put together, it was really -- it looked very much like to us as outsiders that a conviction was inevitable. cheryl: she's desperate to try to avoid prison. considering her elite status and her wealth, to be clear jeffrey epstein killed himself while in prison as he was facing the same charge, i wonder if she will start to name names to try to reduce her sense sense. >> all of us were wondering why she hadn't. she's in prison for the entire time. there was no bail for her to come out. so she's been in prison for over
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a year. all of us were looking and saying how could she not try to do some sort of plea deal. frankly, she had a lot of names she could have begin. she didn't. the defense attorneys were pointing to an empty seat, jeffrey epstein was the mastermind, the one who committed all these crimes. they pointed to the empty seat. when the three out of the four accusers say that maxwell actually participated in the sex acts, it became pretty overwhelming. cheryl: i want to bring in another big trial. we've been following this obviously as well along with the maxwell trial and that's the theranos trial. the jury is weighing the charges against elizabeth holmes. they took a break after six days of deliberations. they're not going to start deliberating again until the start of the year. what can they actually mean? what does the break mean on the outcome of the trial? could the timing of it help the defense? and believe it or not, some podcasts have been talking --
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everyone sers obsessed about -- everyone's obsessed about the story. some are saying it's the holidays and that could make the jury more forgiving of theranos on what elizabeth holmes did and you how she frankly lost a lot of money for investors. >> about a billion dollars, that's what the prosecutors estimated. as a trial lawyer, nothing is more fearful for us than to have some impending holiday. so here it is, oh, you're going to work through the holiday. i think it benefits both sides for there to be a break but i think there's a lot to be said about the fact that now the jurors are going to be in a relaxed setting, they're celebrating the new year, they're going to come back happy and they're certainly looking forward to 2022 which hopefully is a lot better than 2021 and there might be some jurors that feel pretty forgiving. but at end the of the day, a fraud case is very, very difficult, whether it's in a criminal setting, civil setting,
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it's still very difficult and unlike many of your -- the white collar crimes, you don't really see the defendants take the stand and sheer holmes took the stand for five days. actually, seven days. which was tremendous. thinking of -- especially because obviously there was a lot of cross-examination. but here's someone who is able to gather a billion dollars plus investing in a company, basically on her word that it was going to be this tremendous success so she probably assumed and worked with her lawyers and said you i can convince this jury that i didn't commit any fraud against any investors, i really truly believed in my company. i was out there telling aspirationaly what this company was capable of doing so therefore i could not have conceivably committed fraud. prill want stroke of -- brilliant stroke of genius on her part but a big risk that she took. cheryl: mercedes coleman, great commentary from you and analysis. mercedes, thank you very much
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and happy new year to you. >> happy new year. cheryl: we've got a lot more coming up, everybody. lawmakers are stepping away from the stock market. they are calling on others to do the same. arizona a senate candidate blake masters is here to weigh in on why he thinks politicians should steer clear of investing. plus, the cost of crypto hitting your wallet where you should be looking to move your money in 2022. that's coming up next on "mornings with maria." ♪ the lord made me hard to handle. ♪ so loving me might be --
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cheryl: welcome back. i'm cheryl casone. i'm in for maria bartiromo. it. is thursday, it is december 30th. a look at a markets this half hour. we have today and a tomorrow for trading and that's it for 2021. we've actually got green arrows across the board. once again, as we start and kick
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off these markets today, the dows is up by about 30, s&p up 5 and-a-half, nasdaq up 26 and change. we had a mixed day on wall street yesterday. the dow and s&p 500 finishing in record territory. the dow having a strong record close as you can see there, gaining 90 points, nasdaq did have a little bit of pressure, the s&p gaining momentum as well, a little more than 6 point gain there. as for european markets, they are mixed and, well, moving fractionally this morning. as you can see the u.k. and german markets are in the red right now. over in france, ahead of the new year, they're trying to keep things positive. over to asia, a mixed story, all markets making fractional moves there. the kospi in he korea was the worst performer. and here's some of the top stories we're watching for you this morning. a new study finding that two doses of johnson & johnson's covid vaccine is slashing hospital stays due to omicron. after a j&j booster shot was given, the south african medical he research council found
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protection levels rose in the weeks and months ahead, cutting hospitalizations by up to 85%. this comes as the shot has been increasingly relied upon in south africa. kind of a flat start for j&j stock this morning, however. well, it was a strong year for ipos, ending on, a well low note despite raising more money than ever before in 2021. two-thirds of all companies that went public in the last year are now trading below their initial ipo prices. experts cite the rise of inflation and the looming threat of rising interest rates as a contributor to the phenomenon. 600 went through a special purpose acquisition company, a spac, we talk a lot about that. well, elon musk's spacex getting a boost. the rocket company raising over $337 million in fresh funding. that is according to recent regulatory filings. this comes after the aerospace
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giant hit a $100 billion valuation following a secondary share sale that happened back in october. the company competes with jeff bezos' blue origin and richard branson's virgin ga lam lactic. there was -- galactic. the power ball climbing to $483 million. the last time someone won the top jackpot was in october when a person bought a ticket that was worth $700 million. the new year could be off to a great start if anybody can pick the winning numbers for the next drawing, that's on saturday night. could be a good way to ring in 2022. well, the biden administration asking the supreme court to intervene on the remain in mexico policy. this after a lower court ruled that the trump era policy must be revived despite several appeals from the white house. the policy has returned 200 adults to mexico.
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arizona senate candidate blake masters joins me now with more. good morning. arizona is becoming a new border hot spot, even more attention has been focused on arizona than texas. what is your reaction to the administration pleading to the high court again for help? >> cheryl, it's just so crazy. like these people just want open borders. you know, remain in mexico was a trump administration policy that worked. president trump's policieses had the situation under control and joe biden takes over. he reverses all of these policies and in many sectors in the yuma sector, there's a 24x increase in illegal crossings under biden. that's a 2,400% increase and it's just crazy. it's outrageous. but they clearly want it which is why this administration is begging the supreme court to let them continue to have open borders. i mean, it makes absolutely no sense. cheryl: angela morabito, jump into this.
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because this is a political hot button issue. here's the thing. they could put the policy in place but if the administration doesn't enforce that policy then this could all be for naugth. angela: a policy that is not enforced is a policy that doesn't exist. anything the biden administration has said they're doing about the border we know at this point has been all smoke and mirrors. he and the vice president have both essentially lied about their border trips, sayings he's been there, she'll address it. well, she goes 800 miles away from the hot spot. we have no choice but to distrust what this administration is doing on the bore of deer and it's -- border and it's tremendously frustrating because the trump administration handed them the playbook. they don't need to guess what's going to work because they've seen remain in mexico was a positive thing. they just lack the political will to do it and i promise you if there was some sort of study that said the folks coming across the border were all mag
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ameren gop voters, the border would be shut down in eight minutes. this is all politically motivated and it sadly puts all americans at a safety risk. cheryl: it's interesting she says that, blake, because what you've seen in arizona in particular with the 2020 presidential election, the state did go to joe biden. arizona traditionally has been a red state. but the dem of graphics of -- general graphics of -- demographics of arizona are changing the conversation and now changing the way that arizona votes. >> yeah, although i think we're going to see some backlash here in 2022. i'm not sure we had a free and fair election in arizona in 2020 but certainly voters i speak to now, they are pissed off, they are activated. the democratic party in arizona attacked me for saying this about the border, i said there's a border crisis and they said
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no, there's not, there's no border crisis. that's so out-of-touch with reality, it's out-of-touch with where normal people are and it's a good luck with that message in 2022, guys. i think it's going to be a good year for republicans because people are sick and tired of this. cheryl: pima county has dealt with an incredible overload, a bigger share than the rest of the state when it comes to illegal immigration coming through the southern border. i want to move over since you're running for senate, i want to ask you about this. vermont senator peter welch and his wife will stop trading stocks while in office, this coming after they violated the stock act by reporting their sale of exxon mobil stock one week late. you're calling on a ban on owning or trading stocks while in office. you are running for office yourself. where do you think this can go and was this latest story with the vermont senator kind of what pushed the issue for you? >> well, sounds like he may be trying to get out of t hot water. but zooming out, i do think we
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should ban individual congressmen from trading individual stocks. whether it's corrupt or whether it just appears corrupt, it's still core row sieve to our -- corrosve to our politics. i think people say it looks like a third world banana republic. we can't trust these people to have acassess to this nonpublic information and then also not just use it to enrich themselves. i think you want to invest in index funds, maybe that's okay. but you can't be buying and picking and trading individual stocks as a member of congress. being elected to high office in this country should not be a get rich quick scheme. cheryl: especially when you know they that you've got the ceo of exxon mobil appearing before your committee which i found just rid i'd husband and that's why -- ridiculous. and that's why he's under fire. you're running for a senate seat
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out of arizona. you want to offer an nft and i think this is interesting because you do come from wall t street and i don't think we've ever heard of a candidate offering an nft, non fungible token. explain this. >> yeah, you can think of nfts and digital scare at this. you can make an n -- scarceity. you can make it out of a song or photo. with an nft ownership is registered in the block chain. we sold 99 nfts to max donors. two days, my campaign raised 550 plus thousand dollars and we kind of created this club, this digital club around this book that i wrote with peter teal, zero to one, about technology and so it's just a new and i think bold, innovative way to raise money and looking forward to watching other candidates copy this strategy and fail. cheryl: well, yeah, i mean, no, it's a very novel idea, very
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interesting. blake masters, please come back in the new year. arizona of course the center of the border controversy and you're going to be a big noise in all of that. blake -- big voice in all of that blake, thank you very much. from nfts to crypto, crypto's had a wild run but investors are saying that ethereum surge may soon beat out bitcoin. we're going to talk about that next. plus, putting love to the test, the very interesting way that one woman tries to figure out why so many potential dates ghost her. meaning they don't even say good-bye. they just disappear. that's the hot topic buzz, that's ahead. ♪ do you turn it up. ♪ do you sing along every time you hear that song. ♪ like we did then. ♪ like we did when. ♪ do you close your eyes. ♪ does he make you laugh. ♪ do the memories take you back
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cheryl: ether outperforming bitcoin in 2021, ether is the coin of the ethereum network. the cryptocurrency proving to be more stable than bitcoin over the last year. joining me now, tyler paige.
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ether versus bitcoin, tyler, what do you say? >> good morning, cheryl. great to be back. thanks for having me. you know, look, we're pretty focused on bitcoin. i think ethereum is great, fascinating technology, it's an interesting investment but as far as building an industrial scale company, specifically focused on the mining sector, bitcoin's our focus. cheryl: okay. well, according to blockchain.com, 90% of bitcoin's total supply has been mined. you say public mining companies are spending hundreds of millions to mine the last 10% over 50 years, but isn't that too little too late? >> history bodies agree with you. -- history would disagree with you. bitcoin has been the best performing asset on earth since its inception. it's been around 12 years. 90% of the coins have been minted, the remaining 10% 10% assuming continued network
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adoption would hold plenty of returns. this year produced the most revenue ever for bitcoin miners. i think it's tracking to $16 billion overall. so if you see continued adoption of the bitcoin network and we think there's lots of good reasons for that, we would expect it to remain very profitable and just to put a point on it, the last bitcoins expected to be mined in about 20 -- 120 years. cheryl: i want to bring in mitch rochelle into this. the prices of bitcoin takes a lot of the average investor out of it. they have to find different ways of fractional ways to invest in bitcoin. it's an interesting way to go for kind of the average person. but still it's a little volatile. mitch: the thing is, you know, a lot of people have commented that crypto's the new gold and in times of volatility and uncertainty, people tend to rotate into gold especially in the face of inflation.
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my observation is that crypto, ether aside, really hasn't functioned as that inflation hedge. we haven't seen inflation in a long time. i would have expected a businesser rally in cryptos. a quick question for tyler, though. there's a lot of talk about the impact on the climate of mining and i'm curious of to get your take on how much -- how green is that last 10% of mining going to be and are you going to see a lot of global pushback to the use of energy to mine that last 10%? >> yeah, so great questions, mitch. there's a couple things going on there there. l i'll take them in he reverse e order. an esg perspective i think the bitcoin mining industry has a great story to tell. we generally have a higher penetration of the use of renewables. my own company as an example. if you look at the carbon footprint of the five data centers we are building currently, it's forecast to generate about one-half of the
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carbon, the typical user of electricity in america. so when you go to the refrigerator tomorrow night and grab the champagne to celebrate new years, when you let out the cold air, in all likelihood you'll be putting more carbon into the air than we will out of our data centers in terms of how the power generates carbon, in terms of comparing the usage. i think overall, the industry has a pretty good story to tell there. we can find trapped power, we can unlock new renewables so i think actually when you look at the data as that debate evolves, we're in a pretty good spot. i would point to the discussion that you began with about inflation and a thinking about it as an inflation hedge. what i'd say about that, focusing on bitcoin specifically, i think it will be a fantastic store of value and fantastic inflation hedge. i think it depends on time horizon. gold has a 5,000 year head start. when gold first was being used as a store of value, convincing
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other people to join the network of believing in gold took a while and it wasn't all accepted at first. today, it's sort of broadly accepted that the shiny metal stores value and governments and central banks accept that. bitcoin has 100 million users that believe that today. it's my belief, it's certainly our belief in the industry that that network will grow to billions of users and over a longer time horizon will prove to be a superior store of value. cheryl: okay, real quick before i let you go, speaking of that price versus gold, investors believe some that bitcoin's going to break $100,000 within the first half of next year. i had brock pierce on the show this week, he told me 200 you 2. right we're at 47,000, tyler. so what's your prediction. >> i'm going to avoid making a specific dollar prediction. i would say this, we tend to look at longer time horizons. do you think there will be more
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users of this network with a scarce asset over time and or fewer users. we've had huge milestones this year. we had a country adopt bitcoin as legal tender. we've had very positive discourse on the regulatory front here in the united states. and we've had several bedrock companies in the united states adopt this as a treasury management strategy. so i think if you look at all the signposts of where network you adoption is going, it's going to increase. it moves up and down day to day. over time, i think we'll have massive increases in the price but it's hard to predict in any particular timeframe. cheryl: the regulation is the big -- you brought up right there, that i think is going to dictate where we go. tyler paige, thank you very much for had that. we have a lot more coming up. hung up on lost love. you're never going to believe what one woman did after her dates stopped talking to her, they ghosted her. that's making a buzz this morning.
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we're going to show you, next. ♪ crazy girl. ♪ i wouldn't dream of going nowhere. ♪
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cheryl: time for the hot topic buzz. ghost busted. a tennessee woman tired of not
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hearing back from men on survey. one ghost responded wrote, i caught feelings too fast and i don't know what feelings are. angela, what do you think of this idea? >> i am in favor of anything that makes app dating a little bit more honest. i will tell you, if you want to see the wide range of ways that people would be horrible to each other. download a dating app. i don't think that's somebody that you want to date anyway. i think this woman is a genius and points for this guy for giving honest answer, catching feelings and not knowing what
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feelings are. cheryl: mitch, i know that you're a happily married man, ghosting is alive and well in singles' world. >> i am so glad, cheryl, that i'm not part of this dating world. when you ask for feedback, sometimes be careful what you wish for. you never know what people are going to say, i wonder some of the responses could potentially be more cruel than the ghost thing itself. i know from social media, people like to hide behind, you know, handle would be very cruel, i worry that this woman could find more cruelty in the honesty of others. cheryl: i tell you what, the dating app company should take notice of the woman and strategy and incorporate it into the business models, just a little idea i'm throwing out there. if anybody from match.com or bumble or tinder are watching
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the show. angela, mitch, thank you. next hour of mornings with maria start right now. cheryl: good morning, i'm cheryl casone, december 30th, top stories at 7:00 a.m. eastern time. economic misfire from the biden administration. the president lotting 2021 as an economic success saying one analyst describing as, quote, strongest first year of economic record. who was that analyst? americans are dealing with inflation at 40-year high, rising gas prices and supply shortages. putin is looking for assurance
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that is the country can never join nato, we are watching the foreign policy implications all morning long. take a look at markets, we have another positive search to markets. futures up, nasdaq up by 34 after mixed day on wall street. dow and s&p 500 finishing up in record territory. dow had first record close since november 8th, by the way, good news for the dow and the s&p. nasdaq last night losing 15 points but, again, strong performances for the dow and s&p 500. back to what is happening this morning. european markets, they are inching higher. we have seen strength in the last few moments for europe. the ftse 100, cac and dax all in the green and to asia overnight, you had mixed story there. all markets making fractional moves. we have seen this play out all week, the kospi and korea, worst
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performer there. mornings with maria is live right now. top stories that we are watching for you, ghislaine maxwell facing decades behind bars after being found guilty of sex trafficking teens for billionaire jeffrey epstein, she was convicted on 5 or six counts after five full days of deliberation, her defense vowing to challenge the verdict. >> we firmly believe in ghislaine's innocent and we are confidence that she will be vindicated. >> reactions from victims. maxwell faces up to 65 years in prison. the question is she going to
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start naming names. well, a decision on the trump-era remain in mexico policy could rest in the supreme court's hand, the biden administration asking the high court to intervene and decide that if it's required to continue program and ask asylum seekers to wait in mexico until cases are heard. biden tried to ditch it after inago nation but blocked by federal court when texas and missouri sued. mayor plane cancellations, one thousand flights from and to the u.s. have been canceled this morning. it's only 7:00 a.m. eastern time, guys, amid staffing shortages and bad weather reports. some predicting cancellations can drag into the year new. jetblue by the way taking proactive approach. they will trim schedule through
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january. time for word on wall street. top investors watching your money this morning. founding partner mitch roschelle, horizon chief investment air force scott and managing partner katie scott, good morning to all of you, katie, i'm going to start off with you, you have futures inching higher this morning, we joke a lot about the santa claus rally, some years it's not a big story, it is a big story this week considering the year that we have had, the dow s&p 500 hit fresh records last night. dow had first record since november. first close anyway. s&p 500 had a big second record close this week, so give us your overall market outlook and everyone looking for the last-minute portfolio rebalance ideas, if you have any, please share. >> well, you know, definitely the santa claus rally is upon us right now and that stalls for strength in last week. that's where we are now of the year and the first week of the
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new year. it should carry us higher in a few days or so and we have breakouts in the major indices, the s&p 500 has cleared resistance level and consolidation phase and with the breakout we can arrive at a measured move projection at the target of 49.60. that's another 3 and a half percent or so higher from current levels, i think that's aggressive. it's what the chart lends itself to but it does tell us to keep a bullish short-term bias here as we get into the new year, what tends to happen, of course, after the santa claus rally ends and the positive sort of rebalancing at the start of the year ends, we tend to get a corrective phase and that's what we are calling for. sometimes starting in late january, a connection that could be somewhat significant, 10% plus for the s&p 500, we don't have, excuse me, indications of that right now, but we are anticipating that, so that's something that we will be looking for and with that, we
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have mawed to a neutral longer-term bias. there's some very real similarities on the charts between now and late 2017 and if you recall 2018 was more of a range-bound type of year where we saw correction toward the start of the year and nice mid-year rebunked and another big correction at the end of the year and result being mostly neutral. cheryl: range bound is not necessarily a bad thing, katie, i'm glad that you brought that up because in particular in the last two years that we have had and we have the pandemic ongoing as we go in 2022, range bunked, look, you may not get double digit returns but a single digit return in 2022, frankly not a bad thing at all. mitch, i want to bring the ten-year treasury yield with you because it jumped to 1.54%, that was 5-week high. let's look at the ten-year now. the yield is still sitting at 1 and a half percent. you the fed expected to raise
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rates 3 times next year and that's going to impact not just the economy, that's going to impact real estate, interest rates, et cetera, et cetera. what do you expect? >> you know, i think it impacts business because one of the reasons to lower rates is incentivize investment. challenging market for people to invest in because of the uncertainty down the road but i think we are going to see cap x continue to go higher even though rates are going higher, real estate investments, supply and demand game and 3 quarter point increase in mortgage rates will chill otherwise strong demand for housing. what could happen, though, is we have seen throughout the year, every time the ten-year goes over 1 and a half or 160, we see the big tech names start to sell off, right now, as interest rates are going up, we are not seeing the tech name selloff, so
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there's a little bit of decoupling and inflation runs hotter and that pushes up interest rates higher in 2022, we could see blowback in stock that is have proven to be insensitive. cheryl: we have had analysts come on this week saying you have to be more picky when it comes to stick stocks in '22, you have to do more homework. you like tech but you're not really liking the financials. i want to pick up on financials with you because we have earnings kicking in in about 3 weeks. that's always the big story not just with tech but the financials, the banks, the earning story. >> earnings i think was going to be okay but the fed is going to be spiking several quarters but
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the market sector are going to price in and if you look futures' contract, they are starting to contract six or seven years, they are having to retrace. that's an environment where you are not going to get all interest rates going up. long-end probably coming down or staying where they are. that's a flattening yield curve environment. historically not a very good time to be investing in financials and probably okay time to be investing in tech. cheryl: i will say one thing. remember when interest rates start to head higher the banks make a little bit more money and they know that and we know that, we always dig into those numbers on this program when they cross in particular. scott, katie, great to have you both here, mitch, you are going to be staying with us all morning long. we've got a lot more ahead this morning. coming up gas prices on the rise with no end in sight, some
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analysts see even higher prices in the new year, are we looking at 4 bucks a gallon, folks, we will talk about it with ohio congressman bill johnson, he will weigh in next. retail roundup hottest picks. angela and mitch roschelle, i'm not going to ghost either one of them. they're with me till 9:00 a.m. eastern time. you're watching mornings with maria live on fox business. ♪ ♪ ♪
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cheryl: adding to red and blue divide, facebook attempted to muddy the waters between republicans and democrats putting politics at the forefront in order to keep the heat away from its many
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scandals. ceo mark zuckerberg strong arming his executives on these issues telling them to stem all the leaks, spin the politics and do not say sorry. mitch roschelle, another blockbuster report from the journal on facebook. mitch: you know, listen, there's not much about facebook's finger on the scale way of doing things that i approve of. the one thing that i would say, though, is their efforts to get ahead of tending regulation is a good strategy. they've got a very aggressive public service announcement like ad campaign talking about how they're open to regulation, they are spending a fortune in the halls of congress lobbying and if rules are going to be written about the industry, they want to have a pen in crafting some of the rules. but some of these scandals are
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headline grabbing, the journal has done a phenomenal job reporting it and i think it's going the make it more political and harder for them to have influence over the rules when they are mired in scandals. cheryl: angela, if you follow the series, i know that you have the facebook files that they call it, the journal pointed to the fact that they knew they were harming kids on instagram, teenagers in particular girls they were basically choosing profits over people, when facebook in particular supposed to be about people and i will give you one quick example and i support a lot of animal groups and there's discussion ongoing about all of animal abuse videos and groups are reporting them, peta is working on the issue and facebook has completely denied that that's on their platform but all of evidence is on the platform. maybe you fix your platform instead of trying to deny that there's any issues at your company and its culture and
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divide that they are creating between democrats and republicans. >> facebook is trying to pretend like there's not a problem here and they are failing really hard and deeply unethical at every turn just like you mentioned with what they allow on their platform but also look at who gets censored, look at the ken koruna conservatives are on facebook and other social media outlets. facebook is not doing the right thing here but federal regulation is not and has never been the answer. facebook is going to do everything they can to dodge in and we are seeing with their lobbying efforts and what they're going to respond to is the way consumers use their product. so think about it. the happiest and most successful people that you know are not the people who spend the most time on facebook. until we realize that as a culture and that company is sadly going to have no motivation to change.
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cheryl: mitch, they tried to change the conversation and change their name. i don't think it's going to help them. >> no, you can paint the stripes on the zebra to one color and they are still a zebra and that's the reality of facebook. the name change isn't going to do anything. the problems are within and until they start stepping up and accepting responsibility for the damage that they do, they will continue to find themselves in scandals. cheryl: i'm telling you, 2022 my predicts is going to be more discussion among large investors of meta formerly known as facebook about is mark zuckerberg still the right person to lead that company. i know he has control in shares but that's a question that i think is going to come up. we've also got a lot coming up. president biden on the bubble on the economy. his overview of 2021 economic moves getting him mocked on social media. we will talk about that next
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plus u.s. troops feeling the impact of inflation, why serving your country may not be serving your wallet. we will explain. stay with us. ♪ ♪ ♪ ♪♪ ♪♪ ♪♪ ♪♪
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cheryl: pain at the pump. not going to be ending any time soon. gas buddy predicting prices could hit national average of $4 a gallon by memorial day. if you live in california, oh and hawaii by the way too, it could be even worse. san francisco residents may be paying $6 a gallon for gas while los angeles and sacramento could see prices hovering around 5.50. joining me now is ohio congressman bill johnson, energy of commerce committee. the numbers are jaw dropping for american who is are already paying for everything and now we are going to be paying even more to power our cars, our trucks, our delivery services, et cetera. your reaction. >> yeah, i mean, who should be surprised by this, cheryl?
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you're exactly right. i mean, on day one, the president began enacting policies that made it more difficult for america to produce its own energy, to produce its own fuel. canceling the keystone xl pipeline, looking into canceling the bridge pipeline that has been in operation for decades and pausing oil and gas development on public lands. i mean, these are the kinds of policies that have reversed the age of energy independence that we had just a few short months ago under the press administration so this should surprise no one. >> well, also too, gas buddy was looking at the fact that you have several refineries down in louisiana and texas that will be offline in 2022. so you're going to have less refining capacity, you have more -- you have higher demand and
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then you've also got the issue of, you know, with oil for production in general that has been decreased to your point under president biden. but here is the thing about president biden, he this morning is getting really mocked for this tweet that he put up. his boosting 2021 economic record. here is what the president just tweeted. we are entering in 2021 with what analysts describes strongest first year of economic in track record. wait a minute. the president didn't name the one analyst. recent analysis shows that much of the progress was made under president trump and real quick i have to show you this, there's a meme on twitter saying that the one analyst basically, who was the analyst, a monkey, said that we had the best track record for any first-year president, come on, congressman. this is what this president is saying, your reaction. congressman: yeah, this is
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crazy. he's got one analyst to be that's unnamed. i've got roughly 800,000 analysts that i represented eastern and southern ohio that are saying right the opposite. they are paying more at the pump, christmas was downsized and down scaled because the price of everything is going up because the price of energy is going up and wages are down and inflation is taxing the american people because that's what inflation is, it's a tax on every american. i mean, you don't get to pull up tat gas pump and put in a code that determines whether you're a republican or a democrat, the biden administration's policies are hurting every working class american family in the nation. so this is such a joke. cheryl: and you serve on energy and commerce, let's talk about that. 2022 is around the corner in the
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next week, so what does your committee, what do you plan to address what is happening to not just people in your district but people across the country that are suffering in this incredibly high inflationary environment? >> several things. i've had one-on-one conversations with energy secretary and i've challenged how -- how do we fix this problem and she said we have to get oil and gas production up and i said, well, how can you do that when you're making it more difficult for american producers and transporters to do their job and instead you're depending on opec and russia to increase production. i mean, it is crazy. i would like to see, i'm not optimistic that it's going to happen but i would like to see president biden and his administration take a deep breath, take a step back and
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look at where we were just a few short months ago, energy independent for the first time in 70 years. let's go back to the policy of the previous administration that put america at the head of the energy table, the global energy table in the global markets. that's what we need to do. you start seeing gas prices come down, you start seeing the price of consumer goods and groceries come down as well. >> well, the other thing the administration could do and speaking to jen psaki in particular is quit alleging that there's collusion among energy companies and that's why gas prices are higher and that's why oil prices are higher, it is not and they produce no evidence to show us that the collusion is happening with energy companies. you have a lot on your plate in 2022, happy new year, congressman bill johnson from the great state of ohio. thank you, sir. well, we have a lot more coming
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up. president biden set to talk with president putin, that's been scheduled for later today. we will break down the future of our foreign affairs issues that we can basically battling over there in eastern europe. campaign problems, folks, the newest items feeling the impact of the supply chain crisis. that's coming up next. ♪ ♪ ♪
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cheryl: welcome back, i'm cheryl casone, in for maria bartiromo, it's thursday, it's december 30th. lack at market this is half hour. we've been talking about the santa claus rally. looks like it's continuing. futures are pointing to a modest gain this morning. you have the dow inching higher
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rough about 49 right now. s&p is up by 9. nasdaq is up by about 4 and 3 point and change. you had the dow and the s&p 500 finishing in record territory. the dow had first record close and the nasdaq did lose steam last night. european markets are up moving fractionally but right now as you can see we've actually got green across the board, cac and the dax. now to asia overnight, mixed story there, fractional moves which we have seen all week to be honest with you. the kospi and korea worst performer. slight moves for asia. some of the other headlines we are watching for you this morning. the bidenen administration promising to distribute covid tests for free but the contracts hadn't been signed yet and the deal won't be completed until next week. the tests won't go out until next month.
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the announcement a little consolidation of millions of americans waiting long testing lines ahead of new years eve. 72% of ceo's fear losing their positions in 2022, that number is up big time for 2021 which is 52% of ceo's had worries. the numbers are on the rise as businesses must deal with the supply chain crisis, labor shortages inflation and the ongoing pandemic. well, new study naming the most expensive destinations for new years eve. miami beach top the list with the average of costing $365 per night. new orleans came in second, nashville, honolulu top 5.
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it's going to be trickier than years past, the supply chain crisis and covid-19 combining to create shortage of control due to import and shipping issues consumers may have trouble getting their own bottle which i was depending on in the week which i had here. let me tell you, angela. what are you going to do? >> i think we all need a glass of champagne after 2021. i tell you, i have a vested interest in this. my car is named piper in honor of piper, i'm a big fan but on a more serious note. i think it's fascinating but the reasoning for the shortage specifically of champagne has become kind of a political litmus test. i'm watching folks on the left chalk it up and we have huge supply rain issue and when it comes to champagne, that's when you know it's serious.
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>> oh, it is not -- it is not climate change, everybody. it is the fact that all the glass bottles and wrappers and the corks all of that has been stuck on cargo ships off the coast of california. that's what's going to affect your new years eve but we are still going to do it. it's still going to be fun. let's stay on supply chain labor retail story if we k. online returns cost a pretty penny for retailers out there. many of them telling customers just keep the product and don't bother sending back to us for christmas. returning $50 item is costing the retailers $33, 59% jump from last year. i want to bring in strategic resource managing director burt flickinger, first that just boggles my mind that retailers are saying keep it. >> cheryl, you know retail
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detail better than anybody and on a 50-dollar sell the retail nets 1 to 2-dollar profit. a 33-dollar cost of return, you're finding ways to lose more money with returns especially when 3 out of 10 products that are purchased are online are returned in store by some other means. cheryl: also too you have the consumer side of this as well because you have consumers, 51% wait until january even february to buy something that they might have bought over the holidays, so you know, january is always a difficult month for retailers anyway because i'm trying to get out old inventory to stock up with spring inventory and now you have this news that the bargain shoppers are even going to be waiting a little bit. >> cheryl, you're completely correct and as you and mitch and others have reported well this
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morning with gas prices high, crime in the streets in the stores and my alma mater waterhouse cooper that consumers are afraid to go to retail stores because of covid. we are seeing the post christmas week be very light for retail sales and foot traffic so far in stores january will be a bit of a bust and it'll be a disappointing season coming up for -- the best retailers will be in the safe harbors, food, distribution transportation, warehousing, et cetera, but for the discretionary retailers to your point, 51% postponing and even when they do show up in the stores, they'll be buying less than they were a year or two ago pre-covid. cheryl: yeah, let me bring in your pwc fellow alumn.
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>> a lot of shoppers pulled forward their purchase for the holidays because they were worried about supply chain and now the survey suggest that many of them deferred it. when we add up the overall-day shopping which they started in september and could go late to march, how is this year going to compare to last year and what's going to tell us about the future of retailing as the future of retailing fundamentally change in the last two years? >> mitch, you're calling it out completely correctly as always to your credit and retail from say back to school weekend labor day to new year's day will be okay up about 3 to 4% because david at goldman sachs who you know well reported that almost that entire increase is due to inflation so if you look at goods sold, adjusted for
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inflation we are flat to negative for the key time frame you referenced from september to december, january, rather than the hot 5 weeks between thanksgiving, christmas, hanukkah and kwanza. cheryl: yeah, and also prices and that's been problem for consumers across the board. real quick before i let you go. time for flick picks, what are your winners and losers? >> winners are the two cochampions, lowes, home improvement and bj's wholesale club with tractor supply and oh orielye automotive and follow personal ethics and professional ethics, relentless work ethic and team work and you don't have
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to be a harvard mba hot shot, you can be high school, military, junior college, college, state school, and they believe in treating others as one would have done under one self, so the company representing united nations of consumers in the company and have a great sense of community and caring to customers and that's why they are going to beat retailers. bj's because it saves customers more on gas and groceries and the brothers said you want to have a multiplier effect in all five of the picks. have a great multiplier behind hall of fame. >> that's how you get the consumer to come back to you and be a loyal customer especially when we are dealing with covid like if they can go to one place like bj's, for example, and get
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everything that they need, that's exactly where they are going to go. burt flickinger, thank you. a lot of great picks from him and coming up we are going to switch gears because we are watching ukraine this morning, president biden and vladimir putin holding another phone call later today as tensions are ramming up at the russian-ukrainian border, general keith kellogg will weigh in on what we are seeing overseas plus no one gets anything for free. the new rules from the irs causing confusion, we are going explore that in the hot topic buzz. you're watching mornings with maria live on fox business. ♪ ♪ ♪
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cheryl: president biden and russian president vladimir putin set to speak again. the leaders will hold a phone call today. their second this month amid rising tensions over ukraine. the two expect toddies cuss parameters of upcoming meeting scheduled for january 10th, putin requested the call and he isn't backing down from demanding a guaranty that ukraine isn't able -- not allow
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today join nato, excuse me, that's the crux of all of this. i want to bring in fox news contributor general keith kellogg. general, this late-day scheduled call is going to be interesting because president biden has really yet seems to me really be give putin the strong pushback. why are we not sounding the alarm on all those troops in the ukrainian border? >> yeah, first of all, cheryl, thanks for having me. good morning. putin requested the call. he's playing strategically. i wrote an article for fox called checkers and chess. basically we play checkers, one move at a time. putin is the grand master of chess, he's thinking of 8 moves in advance. what he's trying to do is break
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apart the alliance, nato alliance, european alliance and get us involved in ukraine and discussions on ukraine. that's been part of the process where we have been observer in this and not a partner, slowly bringing us into a game and kind of put demands on us of what he wants to have happen and president biden needs to push back really, really hard on him on what he wants and declare that we are going to uphold ukraine sovereignty. i would throw this right back on putin, in 1981, ukraine was an incompetent nation and why are you going back to an agreement that you all signed with ukraine. he's trying to bring biden into this. it's a big mistake. second thing is because i don't trust putin at all, he's doing
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this when he's on vacation. i was on 18 different calls with putin and president trump and i see how this game is being played. he's very strategic and thinks strategically and biden needs to think the same way. one move at a time and putin is thinking 8 moves at a time. cheryl: this is what i don't understand on all of this. this is what i was alluding in my first question to you, if you look at the history of everything that vice president harris has said or president biden they say the biggest threat, harris said that the biggest threat to our country is democracy. the loss of democracy, that's debatable. >> yeah. cheryl: they are focused on free people and democracy and the principles that are america, then ukraine is under threat and he put 100,000 troops at the border, oh, he took back 10,000, you know, come on. that's what i'm saying. you cannot trust putin. so president biden saying it's like one standard for america
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but then it seems to be another standard for ukraine. what is it? >> yeah. well, look, i think he's bluffing right now. i think putin is. i don't think he has the troops to task as they call it. he doesn't have enough troops right now even near the border to go into ukraine. ukraine is the second largest country in europe and it would take a lot of troops to get in there. biden needs to realize this and just push back on him. the problem with putin, people listen to him and then they don't push back on him. trump did that trump would pick up the phone and call him and say, vlad, you're pushing too far on this, back off a little bit and i think what putin does is he respect strength and we are not demonstrating any strength at all and he looks back of what we have done recently be it afghanistan and how we don't do anything immigration on the bored and i think he's doing it quite well. cheryl: yeah. yeah, i could see president trump by the way saying that.
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i want to move onto a domestic issue here. the spending bill that biden signed into law, 2.1% raise for service members but when you factor in current inflation at 6.8%, this turns into a pay cut for our troops. and then they are also talking about cutting back stipends, general kellogg, your thoughts on what the move against the -- i say against the military? >> well, when you talk about the pay raise, let me focus on the pay raise, you're right 2.7% on ndaa. when you factor inflation it should have been about 6.8% out there. people need to understand a soldier in the army or the navy or marine corps, whatever it is, they draw about $20,000 a year. that's about the same as a fry cook at mcdonalds and what we ask the young men and women to
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do is incredible and they deserve larger pay raise and we need to do it for retention and make sure we keep them in the military and recognize what they do for the nation and sometimes we forget about that. and i think every night when people hit their knees and they pray, thank god for the young men and women that we have in uniform and what we ask them to do. the same young men and women that went to abby gate to afghanistan and lost their lives. supporting our military in any way that we can is critical especially when it comes to pay, resources that we give and the equipment that we give them and the backing that we give them as well. cheryl: i keep thinking about service member that stay in southern texas to that's to your point are making $40,000 and taking away stipend and getting tinny percentage raise when inflation is beating that by exponential markets, it's offensive. i hope the pentagon decision is
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revisited after the first of the year. general kellogg, great to have you, general keith kellogg, great to have you, happy new year and we have a lot more coming up, everybody, back to our markets, stock volatility shining through for some but not for all why some previous winners were actually losers in 2021 and as we look ahead in 2022 what can we do to combat that, plus coming clean about stolen property. the new irs rule that's causing a fire storm online. it's our hot topic buzz this morning. that's after the break. ♪ ♪ ♪
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. cheryl: time for hot topic buzz if anyone stole a car this year, the irs now says stolen property must be reported as income on taxes same goes for other crimes, bribery, drug dealing, irs says, self employment activity, one tweet read if i steel a bunch of tv's from
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walmart homeless man steals from me can i take that off? >> angela morabito jump in. >> allity real of a question for meme who have been victims of crimes rise in so many major cities but much lighter note this is classic government; right? immigration, customs services when you try to fill out visa to come to the u.s. a box ask you to check if planning to commit terrorism sabotage espionage, genocide doesn't work but maybe you have to respect them for trying. >> i think all drug dealers out there should i call being a countant. >>ing this thing irs putting
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this out, this is not new interim revenue has income comma regardless of source, subject to tax fact of the matter how they got al capone wasn't paying taxes on ill-gotten income not necessarily new but we've a new crime wave maybe irs is making a point there. cheryl: okay desperate for revenue, obviously, okay, yeah, well -- we will see what happens, angela mich stay right there next hour of "mornings with maria" starts right now. . cheryl: good morning, i am cheryl casone anymore for maria bartiromo. it is thursday, ittees is december 30 top story 8:00 a.m. eastern, misfire from biden administration lauding 2021 as economic success. saying just one analyst
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described in quote strongest tiers year economic track record of any president, in the last 50 years -- we want to know who that analyst is, americans dealing with inflation 40-year high rising gas prices supply chain shortages, president biden is set for another phone call with vladimir putin today, to discuss ongoing border tensions with ukraine, putin looks for assurance country can never join nato alliance watching implications all morning lock for markets, santa claus rally in effect right now premarket, dow up 4 s&p up 6 and change nasdaq up 28 and change, mixed day on wall street dow s&p 500 finding in record territory, the dow nabbing first record close since november 8, there is yesterday's close. now markets this morning, right now you've got green across the board in europe. and asia mixed story all
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markets making fractional moves kospi korea worst performer. "mornings with maria" is live right now. . . morning movers, first up take a look at biogen down over 5% south korean firm denied reports it was in talks to buy the u.s. drugmaker according to korea economic was approached to buy shares more than 42 million dollars by jen for neurological disease has 30 new drugs in pipeline stock biogen down more than 6 1/2% didi global falling after reported revenue report falling 11.5% since last quarter revenue picture 11.5% not too good amid a crackdown from beijing china going after companies doing business in u.s., a listing in hong kong
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withdrawing from new york stock exchange, premarket 3 1/2 percent almost to downside, futures higher santa claus rally continues dow s&p 500, fresh records yesterday dow notching first record close since november, this as we wait for weekly initial jobless claims those due out 27 minutes from now there is close last night again, the nasdaq under pressure dow s&p not, i want to bring in, mark lehman, also joining the conversation all morning along angela morabito mitch roschelle. >> santa claus rally sometimes depending on year about santa claus rally has taken on new importance this year, because of what we're seeing in particular with records on the s&p 500, 70 for the year dow looks like finishing strong. your thoughts? >> we'll, we are having this
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rally as you described we did kind of a violent sell-off in november december trade from 2020 unwound a little bit. but economy stayed strong, i think we are getting our handle around omicron variant, and market making new highs like we discussed so i think you are going to see more of that into 2022. like you said, these are heavy numbers and obviously, huge rebound from what we are fearing four, six weeks ago. cheryl: your note analysis on markets right now, you believe stocks which did well in 2020, tell short in 2021, could see a resurgence in support of 2022 are you talking about stay-at-home stocks, stocks we saw get kind of hit a little bit in 2021 thinking about zoom, peloton o delivery services what groups are you looking at here?
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i am i think a few names have done extremely well, obviously going into -- covid wave, 020, 2021 last six months a huge crash, stocks down 50%, you mentioned a few of them, i will mention docusign as one we can talk more about what companies do, but i think that the trade -- to buy it all stay at home rally abaited the sell everything because we are going a back to work eventually rally going to abate, for 2022 want best companies have hit a stock crescendo this year i like those names going into 2022 fundamentals are bids they own markets that has not changed one bit. cheryl: what interesting about what you are talking about if you look at the -- the differences from 20, 2021
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a push/pull with economy pent-up consumer demand seeing with travel even with cancellations people just really wanted to get out of the house and traveler see family and kind of get book to life as normal, get out of the house, if you will. omicron fauci saying surge will be over in four weeks does that affect your pick for 2022 depending on reopening? >> yeah, a great point i mean i think omicron i don't know when going to surge i think clearly the big cities like new york, san francisco, you are seeing just extraordinary positivity rates i think will start to abate in january, to rest of the country but worse numbers into february, just kind of a -- like in delta i think, you are right, i mean consumers have more to spend i think there is definitely 3e7b9 up commanded for travel things doing before pent-up business formation i think going to happen i think you
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are going to have a slew of businesses, formation entrepreneurs either getting more venture backed companies new entities a backdrop for economy you are right i think a lot of pent-up demand the testing requirements are confusing for people. i think a lot of people are going to hunker down three to four weeks as weather the colder worse a spring not to use my line from there can growth in the spring i think a great opportunity for investors to take advantage of particularly for stocks that got creamed back half of 2021 even though fundamentalsr intact so that i think interesting to see what happens i don't agree or listen to everything fauci says on this point i hope he is right just for health of the country mark thank you very much good to see you, we are just getting started, a lot more coming up social
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media, bursting biden's bubble after boosting of 2021 economic news our panel is going to weigh in, plus we've got former arkansas governor mike huckabee to breakdown biden back-and-forth on covids mandates don't miss a moment you are watching with maria" live on fox business. ♪♪ ♪ the beauty of your ♪ ♪ ♪ the beauty ♪♪ they customize my car insurance, so i only pay for what i need. how about a throwback? ♪ liberty, liberty, liberty, liberty ♪ only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ today, things can be pretty unexpected. but your customers, they still expect things to be simple. and they want it all personalized.
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can grow my company while not breaking the bank. ask your agent, or get a quote at easyaspie.com. cheryl: some top stories we are watching for you this morning, ghislaine maxwell facing decades behind bars found gut of sex trafficking teens for billionaire epstein convicted on five of six
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counts after five full days deliberation by injure defense team vowing to challenge the voting. >> we firmly believe gil gil's innocence year very o disappointed with verdict started working on appeal we are confident that he will be vindicated, reaction from victims cure saying even those with great power privilege will be held whfbl they sexually abuse exploit young a sensationing date not sent maxwell faces up to 65 years in prison. decision on the trump-era remain in mexico policy could rest in supreme court hands the biden administration asking high court to intervene, and decide if it is required to consider program mandates asylum-seekers at southern border wait in mexico until indications are heard biden campaigned against
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remain in mexico tried to ditch it blocked when with texas and missouri sued. >> major flight cancellations into sixth day 1,000 flights from either into or from u.s. have been canceled for today, estimates stack of shortages bad weather reports that are out there, experts critique mass cancellations could drag into new year jet blue saying going to trim flight scheduled at leasts in january shares of jetblue fractionally lower this morning, president biden, celebrating his 2021 economic record, causing some to frankly scratch their heads, here is what he tweeted yesterday he quote we're ending 2021 with what one analyst described as strongest first year economic track record of any president in the last 50 years. let's keep the progress going. well biden didn't cite which one analyst this was twitter had a field day with this one
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mocking him. a monkey name? may be the analyst according to one comedian president claimed frankly causing uproar analysis shows much economic progress was made under president trump, this was not president biden this was president trump's policies. >> i would love to know who with unnamed analyst is because, based on what they are saying i am really temperatures to think jen psaki, makes absolutely no sense, there is one record, though that president biden did break, that is the producer price index a record level last month i don't think should be talking about that one though he is very obviously, had a rough year, and it shows just how deeply out of touch the democrats and rest are when rather have -- unnamed analyst than believe what we all as americans are experiencings at gas you pump grocery store everywhere
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feeling the pinch of inflation so i honestly think insulting claim to make based on what pain to all of us. >> americans paying sky-high prices inflation at 41 kwoor high. >> what is interesting -- inflation, the biden administration claimed that they spoke to 19 nobel laureate economists said that deficit spending, money over stimulating demand side of the economy would actually stem inflation, now that is down to one unnamed economist that says that the year you know a bang for economy. i think inflation is the biggest issue this administration has a to deal with, the fact they can't even acknowledge that it exists, is a big part of the problem. they need to work with the fed, to start combating inflation, or inflation could be biggest problem in 2022.
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cheryl: you know angela, you know what really helped economy start to come back in 2020, vaccinesation warp speed that was under president trump. and you know whatever the messaging has been since then about vaccines vaccinations, you know, that is what got us out of the darkest depths of covid. >> president trump does not get enough credit honestly -- the theme of presidency but especially for the vaccine, president biden would like to pretend this pandemic started the day he took the oath of office that is just not true. he inherited an economy bouncing back from a truly unprecedented once-in-a-lifetime event seems to have amnesia not wanting to admit it, it is he is up against a rock because of he refuses to admit a problem i will tell you having a great
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year, brandon i don't know who this brandon person is everywhere i go sure has a lot of fans. he must be doing great. >> [laughter]. cheryl: all right. guys stay with me we've got a locality more coming up we are going to talk about covid and failures of covid testing. president biden facing pushback for not getting rapid test to american peel fast you in o next month thanks why waiting until next week to put the order in, a faberge egg fit for keep of dragons. the price tag on thrones" big egg. . . ♪♪ to the ♪ there is a way to ♪♪ ♪ .
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and easy this holiday season. minsk . cheryl: biden administration, taking jabs from grs for counting a federal plan for covid after president admitted no federal solution to combat the pandemic arizona governor pushing back tweeting the president wants it both case
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demanding governors resolve pandemic because his administration ant if he continues to push back on businesses with no thought to consequences joining me former arkansas governor presidential candidate mike huckabee i got to tell you i mean this back-and-forth with this governors on monday, has given many little confidence in president biden handling of the pandemic thus far. >> joe biden spent four downs at line of scrimmage never got an inch ahead, and, finally, had to punt the ball realize going to have to turn over to governors because he had no federal solution cheryl most he amazing thing that i think of he had an unexpected and maybe even unintended moment of truth when he admitted that he doesn't have a plan. i would say more fair to say he doesn't have a clue. that became evident talking to governors for a year has been
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boosting beating chests going to get virus under control handle this trump hasn't done it right but he will. here we are er a year later more deaths in 2021 than 2020 more with covid with a being very a plan if interest administration put in place, joe biden fumbles when he got thank you baller i think just one of those moments where everyone is going aha! we knew all along but at least joe admitted it, how it should happen? quite briefly, the governors should manage the crisis in their own states they ought to be coming up with ideas to deal with it the ones that work can be copied ones that don't work with avoided. that is i federalism how supposed to work the tenth amendment really is the laboratories of governing founders intended. cheryl: one thing there was 49 billion dollars governor in
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the american rescue plan that money was allocated they barely spent half of that i can tell you how to spend few billion dollars order tests get to people they gave you that idea in october you didn't do it that is one issue, but i want to move on to kind of midterms in 2022 all this has become politicized for next year politico getting blowback this morning because they public punished annard warned making local school border rayses partisan schools in minnesota want extra pay to no one white teachers can mentor other nonwhite colleagues calling that segregation i want your take what all this means for november 2022. >> well to quote a prominent democrat tip o'neill all
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politics is local we are seeing it virginia governors race decided people recognized there were people on the left, who didn't think parents had any role or responsibility in children's education. essentially the message was sit down shut up, hand your kids over to us we will let you know what we've done with them, this is not a battle between democrats and republicans as much as it is about a battle between statism collect system, classism marxist thought individualism people free to make decisions parents free to determine conveys put into children's heads rather than a horizontal left-right issue i really see it more as a vertical issue, up and down, and people are going to have to decide, do they believe that government is the answer? or do they believe, that day real answers day-to-day fall within their own choices pleased convictions, freedom that is really what is at stake right now.
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>> i will say look what happened in virginia, with governor youngkin that race, that was about education, who thought education was going to be an issue that was going to change the course of a governor's race? >> a i think a lot of us realized it because often drives races at state and local level you don't get closer to people's he personal passions than when you are messing with their children, and whether the kind of books they are forced to read or what movies not allowed to watch, because you know they are -- steep with systemic racism can't watch things like "to kill a mockingbird" the most antiracist motive probably last 100 years so when people start messing with children of citizens, that is when parents start showing up at school board meetings in happy frankly the best sign, of a healthy government when people take to the streets and
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they go to meetings, and they stand up and they speak up and they say we've had it up to here, no more. and we are going to start running for these offices that you guys have been holding, and, frankly, messing up for a long time. cheryl: yeah, no -- reverberate next year i want to ask you about this call president biden has got coming up today with russian president putin came from putin's office the one requesting the meeting. excuse me. all of this over ukraine. what do you make of what is playing out right now there? >> i don't think we ought to be naïve, putin is feel out how far he can go, what he can get away with, and i think he is pretty we'll, convinced himself he can get away with with a ever he wants to, because he is not afraid of what joe biden, his administration will do. he watched the botched exit withdrawal of from afghanistan
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realized biden is really more interested in military being woke, diversified than effective i think, you know biden is going to be taken advantage of by putin going toplay play him like a cheap fiddle a dangerous a situation if putin decides going to push forward in ukraine, and i think he feels that if he does, this will be a little bit of an economic sanction, but basically no big deal. cheryl: well the thing is, if biden, vice president harris think biggest issue is climate change, with threat on democracy maybe ought to do better in handling of the ukraine-russia situation governor, governor mike huckabee happy new year gate tough here we've got -- outright now, that thank you, sir. we've got initial jobless claims whereofing o o o right now coming in 198,000 that is
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not had about i bring in mitch roschelle, angela morabito 108,000 better than expected looking for 08,000 continuing claims, -- 208,000 falling to 1.716 million the estimate 1.8968 million not may be not surprise better-than-expected nupz a massive labor shortage happening right now. >> i was expecting potential spike here, because a lot of that part-timer worker hired for the holidays may have found themselves out of work maybe because of some shutdowns, because of infections we may have seen, some furloughed workers, pretty encouraging, improvement in labor market back to the beginning of september, when we wiped out those several employment benefits the challenge remains 11 million open jobs the fact can't fill them that is going to be a big challenge in the
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year ahead. cheryl: you know i do these every week i remember thinking several months ago that i really wanted to see numbers get back down to 200,000, today, they went below 200,000 pre-pandemic level for jobless claims somebody losses a job does it mean or leave labor market doesn't have anything to do with broader economy kind of a normal number, if you will, the question mark i think in the new year is can businesses stay open, and he effectively run their businesses, in the middle of the omicron variant? >> these numbers are indicators what we have seen very, very encouraging, the question is can they sustain it now and into 2022. i also think this is a specific -- to keep in mind with policies that are happening because going to see
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democrats, already seeing democrats start to -- the pandemic economy is forever economy thankfully that is not the case. cheryl: people would love pandemic to continue,, believe it or not. thank you, coming up big tech battle price companies pay to keep their employees, from going to the competition. 37 plus the streaming wars heating up, going into the new year, we are going to break o down big spending and streaming stocks, that is after the break. . . your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
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. cheryl: we got initial jobless claims numbers falling past few uniques now 198,000 claims versus 20 8,000 expectation from economists below 200 k, frankly a pre-pandemic level, for initial claims, but right now
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dealing with one of the biggest labor shortages record number of jobs that are open, i want to bring in ceo of nida, initial claims numbers what is your reaction. >> great, the challenges are only going to continue, accelerated over time, incumbent on companies to figure out how to hire people much faster. . >> hire faster but also going to have to pay them more you are ceo of a company, i mean what are you seeing that apple trying to keep employees from going to meta. facebook because high level salaries got competitive what do you do to keep people on payroll. apple, 180,000 dollar bonuses, bleeding people companies lead to -- find opportunities that
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are completely he different. >> distribute 150 dollars worth of things to keep well, and that is absolutely critical, differentiated if companies don't find ways to differentiator in enormous trouble focus on hiring, for example, if a hiring needs to be processed will take a month take a week coming for offers same exact day how fast. >> i completely believe that, the other issue that is happened obviously, pandemic. that forced many companies many people, to rethink how they work or want to work which is a big issue right now. especially for those that like working at hole they want to stay there one milestone a lot of times hybrid model worked for companies, and then others
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are saying look just say -- >> what say you are people going back to offices in droves? are they going to stay home? general sense, what is your prediction. >> sure people want to stay home. after two years of being home people are enjoying being home unless kids at home other challenges at home we've got companies need employees to come into the office, what is happening is that companies the fabric to tie employees together coming to the office getting happy hour after, that leads to retention issues communities companies being lost so what needs companies are pushing hard to get people into the office, one, two, three days a week, employees pushing back what is happening a tipping point now, so many companies said, ji up-to-the-minute morgan apple,
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have to compete with additional -- >> to your point about banks, but i get i will say from a company perspective of business perspective, you lose a lot of that productivity you lose camaraderie creativity when you don't have face-to-face interactions but it is a pandemic i get that i want to ask about your company, your -- ceos, about getting together, that was whole model for your company i say that for myself running groups triathlon groups what happened when pane hit what did you do to switch your company frankly keep up, up and business. keep it going. -- when pandemic hits we had 100% of our working in person gathered everyone together in march, and we changes our entire technology within two
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days, to allow for remote opportunities, we gone from -- over six million events during pandemic. so, today is about 70%, many outdoors, places, meeting up, in person, and percentage remote model here to stay we have to change our model, to allow for in person and 30 point million people done you up on events cheryl for you many ran by themselves, and got back together only, had a beer together a way to have connections even if you do things by themselves through zoom. cheryl: i mean either likeable run by yourself or get together with people to your point -- do i want to say a great platform i will say, as well there was a lot of
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zoom fatigue the end of 2020, 2021 seems hybrid i think seems to be here to stay based on your feedback, david siegel, thanks for being here happy new year. >> we've got a lot more coming up. the strategic wars streaming a big story during pandemic media groups are ramping up spending on new content, to come out on top in 2022 coming up next stay with us you are watching "mornings with maria" live on fox business. . . ♪♪ be loving you ♪♪ ♪ . ♪♪ ♪♪
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>>. . . cheryl: streamers spend big in 2022 top media groups plan spending over 100 billion dollars next year, a new movies and tv shows, amid concerns going to be harder to attract new customers after pandemic froth they saw 2020 and 2021, progress financial partner cio director research,
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excuse me, i'van good morning to you i am wondering do you think streamers should be worried about customer growth? i ask that facing another variant covid with omicron. >> well, yes, but worried about major growth driver for them is subscription the way is to have content, you spend money on this i think the leader will continue to be business. it takes out of the box with launch of their direct to consumer stream services incredibly well slowed down a bit somewhat of a satisfaction of saturation i think will accelerate next year disney best positioned in is to streaming and in theatre releases including video games park theme park, as well as merchandise. >> i am glad you brought up
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disney one of the strategies with streaming they got film side as well film production side was that they were trying to push things into the theatres but as you move into 2022, netflix has critical acclaim amazon prime, how a lou, disney a lot of players out there, and in particular netflix the word with that company stock spending too much on production. should they still be worried about how much they are spending on content going into the next year? >> well as long as spending on content, with viewer should continue to spend my point is company that is best position to do spend get best return remains disney, and there are things streaming service, netflix, amazon apple, i think eventually you will see consolidation or partnerships with some others like
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paramount a few overseeings there are so many things consumer can scribe to dominant would be disney, netflix netflix eventual will be number one followed by netflix and amazon. . >> sad to say i subscribe to every one of those as a consumer even feeling overwhelmed. >> do you think that is happening with consumers. >> absolutely i think a partnership combined subscription model more convenient for consumers, memorizing, user names different apps, but it is all about content, content is king, disney has king of content. cheryl: mitch roschelle jump in i have no life i watch too much television to ahead. >> i agree.
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so, you mentioned disney i find interesting. does that suggest, that the other players to compete need multichannel distribution? obviously, apple, amazon have other channels when i look at netflix does that suggest netflix needs to get into theme park business or retail business or something, to have a multichannel way to distribute their content? >> i think netflix going to get more into merchandising from some own content potentially video games most neal extension enter containment content. >> merchandise. >> streaming sports the financial fan getting more used to going somewhere else to get their game versus going to a broadcast network interesting time for sure, ivan thank you very much appreciate it we will watch
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disney stock today coming up, luxury in a kingdom "game of thrones" inspired faberge egg a price tag if it for royalty could you afford this? that is the big buzz of the morning we are going to show you this next. ♪♪ ♪♪ . kinder, more inclusive world for the millions of people on the autism spectrum. go to autismspeaks.org
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>> time for big buzz of the morning faberge, unveiling its "game of thrones" aspired dragon egg adorn with thousands of rubies moon stoens safires white diamonds, 18 carat white gold a ruby on top, of a white gold crown inside. he thrown fans are able to catch a glimpse when it tours the nation next we are just in time for hbo prequel series "house of the dragon" i did not watch game of thrones.
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>> this is we're stunning to look at, an appreciation understanding for level of detail into productions, also gone into this egg, just like two million dollars sounds hefty price flag a real dragon egg, knowing that it is effectively jewelry i don't think i would be shelling out quite that much but would love to see it on tour i think so, level of -- care into every piece of this show made it what it is, and great to see it continue. cheryl: i am going to throw out a business idea people that openers of. >> crystals a real thing enforced to nft we spend year talking about isn't a real thing that sales for similar
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money i am glad to see somebody paid i 2.2 million dollars for something else that is in fact jewelry tangible real as opposed to two million dollars for digital image only they own makes no sense to me. this reminds me what we are talking about streaming content, you know everyone has gotten used you to being at home entertained at home nft thing aside i am not fap of to be clear but with regards "game of thrones," in context from hollywood a bigger demand i think in 2022. >> i do. i think the shoes binge watching kept us sane last two years have become a very, very big part of our life. almost like there is a thing that kept us sane. so, taking it to next level on trading merch lines completely
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makes sense to me, i think you are going to see more and more of it, that shows really become part of the fabric of our lives. cheryl: yes. you know what angela okay. i didn't watch "game of thrones" i do binge succession, yellowstone, i want a payer of cowboy boots did not get that under the tree. >> i am all for it shows that have more meaningful parts of our lives, we are going to see them one of there are folks walking around with game of thrones tattoos. i think that's a little crazy, but respect for those who do it. i recall when the last game of thrones season was on some friends of mine were playing in a fantasy league were like fantasy football you got points based on how your characters, your teams performed.
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i was is terrible an understanding that as i am understanding fantasy football so not for me but it shows how important these things are in the value streaming has in the lives of the american public. >> i would watch the dallas cowboys anyway i can get the mainstream them on my phone which i don't. angela, i know it is your last day, have a great new year. the next 3 hours will be "varney and company," markets right now, we joke about the santa claus rally. it is dead on arrival. i'm loving it this year. ashley: what a way to finish up, so sorry that santa forgot your cowboy boots but there is always next year as long as we

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