tv Maria Bartiromos Wall Street FOX Business February 24, 2024 9:00am-9:30am EST
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york city this is maria bartiromo's wall street records happy we can do all welcome to the program that analyzes the week that was an apps position you for the week ahead. i am maria bartiromo. present by denouncing major new sanctions against russia in response to the death of, the largest since the war broke out targeting anybody connected to his imprisonment and russia's military manufacturing and economy. efforts to impose crippling sanctions are so far failed to curb the kremlin's war as ukraine braces for a third year of fighting upcoming sanctions on iran and threatening retaliation if tehran moves hundreds of ballistic missiles into moscow, listen. >> if ironic proceeds with this provision of ballistic missiles, i can assure you the response from international community will be swift and it will be severe in response to iran's ongoing support for russia's brutal war will be imposing additional sanctions on iran. maria: are sanctions enough wall
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street journal report in the biden administration recently issued a direct warning to the russian government against deploy nuclear capable antisatellite weapon into space. joining me now is house foreign affairs committee member at scott perry. thank you for being here today and for this weekend. i went to get your tank take on the efforts of holding rush rush accountable, your thoughts? >> i think it is great we are finally going to hold rush accountable. but maria, i generally disagree with the methodology. it's i think the greatest way to hold rush accountable is strengthening america and what we are good at which is the production of natural gas and oil. planet doing that and crushing their ability to compete. to be great for america to be devastating for russia it would be great for our allies. and yet we think that somehow more sanctions against russia going to work when they have not worked in the past. and oh, by the way this is the administration that has relieved sanctions on russia since it has
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gotten in there. did they think that was going to change anything? obviously it hasn't. the best prescription here is to strengthen america which will by virtue of doing that we can russia. that is what we should be doing. maria: we have been waiting for response for a while. this war is underway now for two years. we will see at these sanctions have an impact. president biden also said he is considering a new executive order to limit illegal migrants asylum claims for this is national security concerns are growing overly dramatic spike in chinese nationals pouring into the country. fox news obtained new captains data showing more chinese citizens have been crossing into the san diego sector in recent months and actually mexican nationals. we are talking 21000 illegal chinese migrants into america on biden's watch and just this year. that fiscal year starting in
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october 288 were deported for the fiscal year. we've got 21000 coming in we only deported 280 or so. your thoughts? >> my thoughts are nothing and no one leaves the communist party of china as a mainland without the communist party say so. they know every cell phone. they know every walmart rubber duck that leaves china. these people are not leaving because they are escaping communist china. they are leaving because the communists are letting them come here. there crossing illegally. you're not coming for work there's plenty of work in china this is work the economy only second is sometimes considered first to the united states of america. it's a terrible vetting process at the border. understand we are taking china's word about their background we checked our own sources do we think these people are spies the communist party of china is going to say wait america, you better flag at this when they might be a chinese spy.
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a huge influx 21 -- 25000 since october the second largest group of migrants coming to the united states of america illegally. what are they doing here is the question and why aren't we sending them back to where they came from? maria: do you think xi jinping is directing them to come to become saboteurs at some point? it feels like it that is the case it could be creating a mini army. >> certainly they are being welcomed at the southern border by the biden administration and by president biden. i cannot imagine she's jinping is sending them over here to work in restaurants or flower shops. they have got something else in mind. i don't think it's going to be good for america. maria: wow, this is something we are going to keep a spotlight on meanwhile house republicans are pushing for the biden impeachment inquiry set to question the president's son, hunter biden a closed-door
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deposition this upcoming wednesday. with the rearrest of the x fbi informant men calling out and stop the impeachment to say there is no evidence. >> of course they are but they did not call for the same thing when the fbi did not arrest christopher steele and the false information he allegedly got from russian intelligence. i find it striking and curious that one of the highest paid app not the highest paid informant for the fbi suddenly is arrested after information is available after the fbi does not went to give us this information. but only on this information. so this guy only lied about this part he is an fbi informant, a paid informant but he only lied about this. and suddenly after years of it being out there the house of representatives finally getting the information an suddenly he s arrested. only on this not about anything else i find it curious and once
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again a striking double standard for quick sound like you don't believe this. [laughter] >> i am skeptical. there is a mountain of evidence regardless of this to this is just another piece of the puzzle. i've got to tell you that i find this very curious it is our job to be skeptical. november they had no interest in arresting christopher silly at all of that information was a lie as well. stay for the christopher steele point is really good when there's been no accountability for that russia collision lie that ripped the country apart congressman is good to see this week and thank you, sir. >> great to se see you, god bles you. maria: see you soon scott perry joining us. blowing earnings out of the water without fitzgerald ceo here with his take on tech i bought the team! kevin...? i bought the team! i put it on my chase freedom unlimited card. and i'm gonna' cashback on a few other things too... starting with the sound system! curry from deep. that's caaaaaaaaash. i prefer the old intro!
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the week after blowout day on thursday strong earnings report revenue better-than-expected. nasdaq and dow industrials up almost 500 points thursday alone. key economic data for next week were risen to the fourth quarter gdp out on wednesday by the federal reserve favored inflation gauge released the january pce number on thursday regarding erin osgo error not td of its chairman and ceo of cantor fitzgerald. howard lutnick is back with this. what a week on the power of a ipa. >> what is more exciting than it to a chilling dollar company going up 10%? it is just awesome. the scale and scope of ai, has got everyone so excited. driving the markets. you are completely right they move is all nvidia and ai is not the fed. maria: that is one area of the marketing spending on ai it has not been all through corporate
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america though. >> it hasn't. >> it is excitement to this is just excitement and where we are going with aip. >> is this the.com bubble? >> every time it's overblown the excitement for a while but it will pool right now nvidia's got the ball everybody has got to infuinfused ai into the busines. we have to -- make everybody has to that's great for the business. why was a great for their business. maria: stock is up 240% in the last year not talk about your business in particular segments you are talking about with regard to real estate. your real estate business because last time we spoke when we were and davos you told me we are going to have hundreds of billions of defaults and office real estate. tell me, are you surprised we have not seen more of a fallout from the fed's 11 rate hikes? >> it is coming now. you have got just under
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1 trillion mortgages coming due commercial real estate. in 24,500,000,000,000 next year 50500 billion the year after 2 trillion coming due in here is the step one third are completely underwater. they are going to be foreclosed upon and be sold. a third it needs someone else's money to help them grow so they need to be recapped you will hear the word or recap all the time that is one third that's a $350 billion this year alone and one third are going to need to find new lenders you call your big bank he say my mortgages coming due for $100 million this nice an beautiful 150 billion million dollar building i got a hundred million dollars mortgage come on bank, rewrite the loan for me it's come due and they say it know you need to find a lender to help you do that so newmark is in the commercial services business. people who own real estate are going to be tough tough, tough
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progress you are in the real estate services businesses require excessregards yes we het when you default the signature bank we liquidated the signature bank $50 billion of loans. maria: there is a huge piece of business we. >> we do that december done, close, review beautiful that's what you're talking about lovely basically the services business is going to be on fire coming into 2025. it will be a nice year in 24 by 2025 will be fire will do our best year we said starting the middle of 25 will do 3 billion in rev earnings up 50%. it will be fire coming next year end services if you own the buildings i don't know what else to say. interest rates went up. >> that's where i'm going with this important you surprise we have not seen the file already? i know there's a lot of money sloshing around and maybe that's the reason the fed is trying to get inflation down yet it's face with a tsunami of cash in the economy but i would've expected
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more of a file economically speaking from 11 rate hikes because that is a big deal when your rate is going from i don't know, 2% that you bought into five years ago to now 12, 13% that is a game changer for companies. >> is completely correct. maturities go slowly. there's maturities in january, maturities and fabric, maturities in march everybody knows of your maturities coming in july you know you are dead. you know it is finished but it is not july yet it is not july yet separate what happens is you slow roll it you go talk to your bank, can you extend me a little? can we pretend a little, please? no here's the keys. then a game is on. it's the same role at all year. maria: the banks going to take a ball as a result of this? are they going to be left held holding the bag? >> banks it up much better job we know they underwrite much better. they underwrite it 60 -- 65% of
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the valley of the building. the building at 10:30 five or 40% the banks are okay. thanks will take some losses but never forget how much interest is great for these banks. banks are going to do really well they have to suffer through the real estate part but imagine the spreads they're making now. they make 5% these to make and nothing at all the deposits in the 5% it's like the birthday every day the fed does not cut is the big banks birthday. maria: people pushing out the expectations of a recession because things have not fallen out of bed yet. and we are now betting on a cut interest rates do you think the fed is going to be forced to cost rates because the economy? at the fed cuts rates as much of the market thanks and i am thinking that's a response overly deteriorating macro story too. >> exactly right that is exactly right. the fed is not cutting anytime soon this concept of member we spoke last on their chart about six cups or seven cups. now the market is come all the way into three or four cuts. how much is going to cut in
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march? last time we talked of 75% people but there is a march cut noted how much the ark? zippo. nothing is cutting in march. there may be a cut by june just to show off. because you have to remember the fed is trimming their balance sheet. which means they're selling bonds are not buying them it's like that bank is not making the loan through the fed is saying i bought a truly at last you're not buying a chilean this year, right customer coup coos and byt trillion? that is a tightening move. the fed can cut a little and sorted be not really doing anything, showing off a little but not really doing anything. making a big thing you're having a drink at the party and throwing it back over your shoulder look i'm drinking. >> by the way up the fed cuts near the election are going to be criticized for getting involved in the election interfering that this that is weathers a little window of time. >> is going to cut near the election because that's a gig.
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he gives you the job, really? the supreme court justice they act because t who give them the job? life on the bench but we all who give them the job. i guess you gave them the job guaranteed that's incredible or quick before you go, cantor fitzgerald incredible growth story where does it come from the next three years? >> we do really, really wellin healthcare. we love healthcare. it's my favorite thing pretty good to our healthcare conference we leave uplifted like never before. we have a growing tech business, ai come on. even i have to get into ai and the tech world with those two places are really good. intuitive today at on one of the companies we take care of we have helped through landing on the moon there is cool stuff to think about, to dream about coming to talk about an cantor
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fitzgerald tries to get to the to be our progress i love it and love who you are howard it's great to see you thank you so much. howard lutnick's chairman and ceo of majo major push back as a steroid friendly version of the olympics is set to debut next year the enhanced games and at founder one of its major financia fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.
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bucca i am the fastest man in the world. i have broken rep gerd but you've never heard of me. now, with important allies and our battle for bodily freedom as we build the first sporting event that allows performance enhancements and it pays all athletes. maria: new sporting event been dubbed the olympics on steroids
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is generating some major pushback. the enhanced games which are sent to debut in 2025 allow and encourage the use of performance-enhancing drugs while competing but some form or in olympic athletes however are already speaking out against a two time limit gold medalist swimmer says i cannot see any responsible and ethical person with think the enhanced games is even remotely a sensible idea. joy tjoining me right now foundr president of the enhanced games president along with cofounder christian who is also a major financial backer of the games. gentlemen, great to see about thaboththank you so much for beg here. >> thanks for having us. >> you heard the criticism from perkins for and i want you to explain what the enhanced games are and also answer the question whether or not it is a good idea? >> went 44% of olympic research are to use performance enhancements and only a 1% get
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caught it is time to be open and honest about the place of science in sports. at the same time olympic committee officials are earning billions of dollars a year or half of america's olympians live in poverty. it is the time we are open and honest and create something better for. >> if you are a natural you don't have to performance to be an hour games you don't you can we endorse it but you don't have to imagine you come in seconds but you say you are natural it is going to beat much more satisfying view because people can to contextualize it. what we are doing is the weight fairer and more transparent version. >> tell us about the growth and how you see the enhanced games growing in the coming five -- 10 years. i think honestly we could become the dominant international sporting events. i appreciate karen perkins citizecitizens he is a distingud
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swimmer that competitors in the pole again simply like james mattis 1 16 time world medalist and olympian have already signed on to come and compete at the games. what we have all the world records only break all of the world records athletes will look at it and say enhanced games are real and it is the primary place to compete in the world. maria: what about competing with traditional olympics? you see it exceeding the olympics in terms of popularity. >> it's entirely possible we exceed the olympics and popularity broadcasters and sponsors want to see the limits of human potential. that does not negate what the olympics is. the olympics are this idea from ancient greece about natural sports it's about history, it is about the past i think it will remain but in an entirely different format. and to be honest when cities like paris are spending tens of billions of dollars to host the olympic games you can go to
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athens, or real, or london see the ruins of olympic success companies that were recently bankrupted by the olympics ultimately the need to be a better model and one that pays athletes because simply sits in the world's biggest venture capitalist, christian, peter teal have backed the games we have been impounded by dozens more venture capitalists and investors who are so interested in this concept and the ability to build the future sports. so far we will leave it there, great to have you both thank you so much we will be watching the growth of the enhanced games we appreciated. >> thank you. maria: see you soon about one important thing getting to know about ahead of ♪ you were always so dedicated... ♪ we worked hard to build up the shop, save for college and our retirement. but we got there, thanks to our advisor and vanguard. now i see who all that hard work was for... it was always for you. seeing you carry on our legacy—
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walgreens and the dow jones industrial average this upcoming monday. as of the only shakeup happening on wall street to keep the doubt relevant. cooper is set to drive jetblue out the doubt transportation average causing that stock to also jump that means investors that by indexes that mimic those indexes will be buying the stocks for the moves could have a big impact on investors in a new economy e-commerce dominate. we'll be following at all on mornings with marie at 69-amp eastern weekdays here on foxbusiness. i'll see you on sunday over on the fox news channel i got exclusive interviews on "sunday morning futures" with congress and jim jordan and james comer. former sector state mike pompeo saisenate candidate kari lake al join to meet live ascending on "sunday morning futures" on fox news channel 10:00 a.m. eastern without due for us here on foxbusiness for and have a great rest of the week and thank you so much for being with us, i will see you again next time. ♪ >> barron's roundtable sponsored
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