a larry: that's it for kudlow, thanks for watching, folks.

maria: good tuesday morning everyone. thank you very much for joining us this morning. i am maria bartiromo, tuesday april 16, your top stories, 6:0. the funding battle on capitol hill continues. mike johnson working on foreign aid trying to push through three standalone bills to israel, ukraine and taiwan. an additional one on the tiktok band but the white house wants ukraine aid tied to israel aid in its rejecting the standalone bill for israel. no security at the southern border, here is kentucky senator rand paul with me on "sunday morning futures". >> what i would say to speaker johnson hold your ground and show fortitude for goodness sakes yuri passed aid to israel, tells chuck schumer what is ready to take it up take it up it would it's going to be paid

for. maria: the details on the urgency to send aid abroad all morning long. stocks are lower, features indicated another decline at the start of the trading extending yesterday's selloff as we await or bank earnings, the dow jones industrial.13 nasdaq 1036 s&p hundred lower by eight and a half, bank of america and morgan stanley the heavy hitters on tap today as well as regional banks will be watching for first-quarter earnings. a look at commodities, oil and gold trading this way with the price of gold 2387 up a fraction, oil pulling back, crude oil $85 a barrel, brent close to $90 a barrel. let's check european markets, the euro and asia across-the-board with s&p would hundred and 22, the cat condo 107 index index lower by 262. in asia a similar situation across-the-board, worst performer hong kong down better

than 2% on the hang seng and the shanghai composite done one and two thirds percent. china's economic story china claim economy grew 5.3% in the first quarter meeting expectations. president trump speaks out after day one of hush money case in new york deeming it a sham as a former presidents media technology group sells off again closing down better than 18% after filing plans to issue more stock. were watching the story this morning. joining the conversation already long strategic wealth partner mark tepper, ceo mike baker and cheryl casone. "mornings with maria" is live right now. ♪.

maria: time for the hot topic of hour. anti-israel protesters shutting down traffic causing travel delays across multiple states yesterday they blocked the brooklyn bridge in the golden state bridge and the road to chicago o'hare airport blocked. [shouting] >> free palestine. [shouting] maria: protesters flooding downtown miami and downtown tampa calling for a cease-fire in the ongoing war in gaza. mike baker i had friends coming back from florida yesterday, they told me at the airport in florida and all the port said no

they indeed in new york all plates canceled or delayed. this is broader than even that come it impacted new york as well in the flight schedule. >> it was a fairly well correlated effort on the part of the protesters. that's what people sometimes forget, they look at this it is all spontaneous. all these people to showed up somehow with the signs and organized in terms of timing and what they could do on the golden gate they pretty well coordinated effort almost european-style they lock themselves down. it is hard to process for most people in this country when they see something like this in the flagburning and death to america. i'll say this i can be very despondent looking at this and thinking about the future of the country in terms of some of the youth but i was in and dapple aside job my boy off at the naval academy. we need do something like that and you see some of these kids

you realize we're in pretty good shape. if you look at the protest and think what is happening in you have to step back and think that we have great you thought there. maria: how beautiful that your son is doing that, congratulations to you that's a wonderful story. unfortunately we have this chaos breaking out across the country. you're seen the anti-israel protesters able to stop business activity and that's a big deal. >> our economy definitely needs to continue every single day of every single week of the year so this is obviously hindering our ability to do regular things. if you look at the golden gate bridge, brooklyn bridge, chicago o'hare airport, people were getting out of their cars to make sure they didn't miss their flights. it's pretty absurd. what is interesting we've been talking about at nausea over the course of the last six or 12

months over the so-called job gains in the fact that a lot of the job gains economically have come in the government sector. were adding more and more government jobs and what does not lead to more dysfunction more people acting like clowns every single day. it's not the way it's supposed to work. maria: i would like to know how much of this originates at the white house unfortunately with their tenor and tone florida senator marco rubio is accusing president biden of leaking details of his call with israeli prime minister benjamin netanyahu to appease anti-israel activists. watch this. >> joe biden and the administration would leak to the media the contents of a conversation when he tells benjamin netanyahu that he doesn't think he should respond at all the continuing part of this public game that they play which frankly encourages iran and hezbollah which we haven't

talked about. maria: this is not the first time, two weeks ago chuck schumer was on the senate floor saying that we need new elections in israel and president biden followed up and said that was a great speech to chuck schumer to the middle of the fight of their lives in israel right now. >> that is the arrogance of the administration right now thinking that they can dictate policy to benjamin netanyahu who is fighting for their very survival and sink into existence and will do whatever they can to protect themselves and their children for generations to come. good for senator rubio for calling out the fact that biden recorded a public call with benjamin netanyahu that shows you that they have complete disregard for the fact that there are many other forces in the region that are looking for weakness when it comes to benjamin netanyahu and they

believe for one second that biden in the united states does not have israel's back our ally that makes things worse for israel not better. maria: did you see the crowd yesterday, did you would all get exposed to some of the anti-israel protesters yesterday. >> i did and all they are doing is taking off. >> it's not a good way to win fans. maria: i think part of the problem here in the major part of the problem, president biden is allowing domestic policy, bad poll numbers in fear of losing voters to drive national security issues. maria: he wants a palestinian both in michigan. we are more on this next. stay with us. we'll be right back.

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reported earnings that is a boost to the dow the dow was up 54 points, the nasdaq is still negative down 57 and the s&p 500 the whereby leviton a quarter right now three hours before the opening bell. bank of america and morgan stanley set to report earnings, were reviewed on the numbers and it could be a market mover on bfa and morgan stanley will see how the capital market did after a blowout yesterday from goldman sachs. joining me independent advisor chief investment officer chris zaccarelli. thank you for being here. first your expectation for the earnings today? >> to your point is good to be interesting to see what happens with the two banks because goldman sachs did so well yesterday and morgan stanley is the closest analogue to goldman sachs. in this case were looking to see if the capital market can keep up. we think is a positive sign based on yesterday so morgan stanley could do well on the capital market side of things and bank of america following j.p. morgan's footstep. j.p. morgan had good results but not as high as a high

expectation out out there but that'll be the story both banks will have good earnings but will be good enough for high expectation set up and baked into the price is coming in today. maria: i'm looking at a market that has been negative for a couple of days, not a good second quarter that is for sure as we look at the ten year treasury yields ahead of the federal reserve chairman jay powell speech later. he's going to speak at 1:15 p.m. eastern, the yield on the ten year is that for .65%. that's a must fight basis points this morning mark newton tom lee, they do a great job in mark newton says overall i cannot rule out more weakness this week and pointed out long-term interest rates are suppressing higher given that technology is not broken down relative to the s&p 500, the technicals remain in good shape, i would buy the

dips but we are not out of this just yet, monday's decline appears a bit more bearish technically and merits addressing to explore where this might go in the weeks ahead. you say the possibility of rate hikes are more likely scenario leave the market vulnerable to a pullback as well. >> that is right. i think the way they categorize is correct we would be buying dips as well but in the near-term there is a possibility for weakness in the story that she has been inflation to sticky, year three of the last four headline cpi being higher than expected in two of the last three core cpi's being higher than expected, bond yields have moved higher as you mentioned and that has the market spooked. i don't think the fed will be raising rates this year they had many opportunities to pivot to say the get a raise rates clearly inflation is not coming down in a straight line the way they had hoped but i don't think they were expecting it to be

this easy. however, the idea that the get cut rates six times that is completely off the table the idea that the get cut three times that may not be possible either i think there to keep rates higher for longer smos base case and i think they want to cut rates they said it over and over again but possible they only cut it one time or the whole year without cutting rates the most likely answer from the fed to higher-than-expected inflation is to keep rates where they are in the market wasn't completely expected not as a market adjusted the bond market and the stock market that's why you see weakness in both mar markets. maria: i would bring mark tepper in. we've been talking about this for weeks we were both shocked that the market expected six rate cuts then three. we're lucky if we get any. take a look at oil because you have oil elevated here even though it's pulling back from the highs this morning were talking about $85 a barrel, this on the day that china claims the first quarter gdp grew 5.3%

beating expectations. as you would expect i'm not buying this five-point to percent economic growth out of china that comes from the ccp. >> it's tough to trust their data. when you look at oil once it hits $90 a barrel that becomes very problematic for stocks and problematic for the consumer in the economy and typically at about $90 a barrel that 3c consumer discretionary stocks began to underperform consumer staple. i want to ask you this question i'm in agreement with you that there may not be a rate cut this year but i do believe there may not be a rate hike i do believe there will be conversation about it. it will at least be broached and upcoming meetings which could spook investors and i'm wondering, typically in an election year 15 or 15% drawdown and we haven't seen much this year the 200 day moving average would take us to 46.6211.3%

drawdown. we want to get more aggressive are looking for the meaningful pullback. i'm wondering if it's happening right now. >> it is a great point. clearly entrepreneurs have been volatile in the past. keep in mind 2020, 2008 and the financial crisis was an election year end even 2000 with the bubble election year. we've seen a lot of negative news in election years but in general i would say every other year you get a 10% pullback or more and last you the market only pullback abruptly present at any one point time that's much less than usual redo for a pullback looking at the ave averages. as far as the catalyst can be higher-than-expected inflation, will he go higher that's a problem not only $90 a barrel a problem for businesses but they can about what that does to prices at the pump consumers react when they see those prices changing and it was a few years ago that we saw prices at $4.5 more, you see price of gas going

back how you and that could have a big impact on consumer discretionary there are risks absolutely not only in the market but the consumer as well. maria: going into the summer driving season we should point out. chris zaccarelli oiliness this morning. united health this is what turned the dow around up in the premarket up 5% reported beat expectation and incurred a charge of $7 billion after selling the brazil operation. united health expects to take a hit of a dollar 35 a share to the full year profit from disruptions caused by the february cyber attack at the change healthcare unit. united healthcare is on track to add 130 points on the dow with the 5% higher that's what the dow industrials are up 70 points despite weakness for the nasdaq and s&p. a quick break the white house as that will eject a standalone israel aid bill. house speaker mike johnson is trying to leverage the

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maria: house speaker mike johnson announcing the house will vote on three separate foreign-made bills this week one for israel, one for ukraine and one for taiwan the house is considering a fourth bill to focus on other national security priorities such as tiktok. the white house said yesterday president biden will veto any standalone israel aid bill insisting and must also include money to ukraine and taiwan, joining the virginia congressman rob wittman the house armed services committee in china select committee, thank you very much for being here. tell me about the boat, what are you expecting. >> good morning maria, the speaker is putting forth the four bills that you speak of, i think that's the right way to go about it we have to be able to debate these issues individually

there both unique in their own ways and i think the speaker is smart to do this is listen to the conference in determining this is the right path forward. maria: the white house is putting a stake in the ground saying they're going to veto anything that does not have ukraine aid and it. why do you think that is. the president said he supports israel and the ironclad why is he stopping short of sending aid to israel in your view. >> is a contradiction in what difference does it make if these bills are separate versus together. it does not make any sense, the president is being political with this and the speaker is right let's have the debate on the merits of each of these and put that forward and if the president decides to veto that is his decision to get the house is going to have the debate and which job. maria: let me ask you about the border all the bills are coming to the floor and you have yet to

secure the southern border. customer border patrol agent in san diego county report that they have arrested more than 24000 chinese nationals since october of last year. to be clear this is san diego this is not the southern border weird he reported the 24000 migrants at the southern border and apprehended since october, this is 24000 just in the san diego sector that 11000 chinese migrants encounters in all fiscal 20231100 in fiscal year 2022 and 279 the year prior, clearly chinese nationals are picking up the pace and other flooding san diego, what you make of it. >> i think it's purposeful in a direct result of the failed policies by the biden administration and having them put forth an open invitation to come into this country through an open border failed policy results in danger to this nation and those individuals coming here are unaccompanied military

aged males. we know xi jinping is not allowing those individuals to leave the country for benign purposes. they are here for a specific person and is not the best interest for the united states to happen this is what happens with the ffa border policy and open border and the president tomorrow could declare a national emergency and checked on the border. that is the frustrating part the biden administration knowingly is creating a risk to this nation by these individuals coming across the border and is not just chinese and chinese nationals as people from other areas from countries that don't like us, organizations that are set clearly there out to do harm to the united states. maria: this is a serious issue, you said these people will likely either approved by the ccp to come here or directed by the ccp to come here you can't just pick up her suitcase and

say body i'm leaving i'm going to america and communist china. your an elected official what are you doing it xi jinping treated a mini army in america so we have saboteurs when he needs them to sabotage america. your an elected official, what are you doing about it. >> the house has done its job it is packed the secure the border act, whatever top priorities we passed that in the senate and the senate needs to do their job and take up hr2 the farthest reaching border security bill in the history of this nation that would immediately address this danger to the nation that is being put upon us by china. this is purposeful the house has done its job in the senate needs to do its job and the president needs to do his job the president can declare a national emergency and the president tomorrow could resolve the 94 executive orders and directives that he and secretary mayorkas output after that i weaken the

nations border acuity and by the way the house will be delivering the articles of impeachment two the senate on secretary mayorkas all of those things are critical the house is doing its job each and every day to make sure that border security is addressed the president needs to do his job. maria: we've been waiting for the articles of impeachment but let me bring mike baker and they only needed 19 terrorists to take on the trade center. these are the stories that have people wondering if in fact the u.s. is a sitting duck in foc a terrorist attack on u.s. soil because many of these people we have no idea where they are, why they are here and what is their motivation. >> i would argue the primary function of the federal government is a protection of its citizens. you can't national security and public security without a secure border knowing who's coming across and obviously at this point were failing in that responsibility but if i could i

would like to return to the foreign aid. i don't disagree with the idea of negotiating and debating each one separately, their unique and separate circumstances but i will say i'm perplexed over the significant pushback from members of the republican party over aid to ukraine. i'm old enough to join the agency back in the day of the soviet union and i would like to ask you this, how do you explain, what is the primary reason why there is pushback on ukraine aid in seeing republicans arguing against a fight against communism. >> i think there's two elements of the debate within the conference. first of all how to pay for this to make sure were fiscally responsible in the face of mounting debt now exceeding $34 trillion in the other is to make sure we have a debate across the spectrum of how the united states is going to play in this role and the long-term.

this cannot be a blank check. secondly there is a concern about border security, there is a want to get border security pushed further to the forefront i spoke to maria we have done our job and we want to push the issue even more folks at the conference with the border security to be pushed and they want to make sure that we look at this in the long-term and understand the has to be pay force. maria: we will be watching your work, thank you for being here. >> thank you. rob wittman in washington. president biden claims the u.s. and israel defeated iranian aggression despite iran flouting whatever warning they administration tried to get, jack keane is here with his take on the escalation of the middle east. president trump speaks out as the so-called hush money trial begins in manhattan the jury selection resumes today. everything you need to know right here.

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maria: welcome doctor president trump's unprecedented hush money trial ends day one with the shocking declaration from the judge. cheryl casone with the details. >> jury selection is going to resume informer president trump hush money trial at 9:30 a.m. today the first 96 respective jurors were sworn in yesterday afternoon but more than 50 dismissed for saying they cannot be impartial no jurors have been chosen trumps legal team is asked the court if he can skip the trial next thursday while the united states supreme court hears arguments on the presidential immunity, trumps lawyers special counsel jack smith but the judge immediately shut it down.

>> the judge of course is not going to allow us is a very conflicted judge and is not going to allow us to go to that. i have a problem with this judge and the real problem with a lot of things having to do with the trial. >> is also worried he will miss his sons eyes go graduation. jury selection could take up to two weeks. the details of o.j. simpson's last will and testament shows the disgraced sport star accused murderer put his money into a trust his attorney says he doesn't know how much is in the trust or what he had when he died at 76 from cancer. the executor saying it is my hope that the goldmans get 0, nothing. i will do everything in my capacity as the executor and personal representative to ensure that they get nothing. the family of ron goldman along with no call brown simpson was murdered in front of her home in

los angeles allegedly by simpson sued him over the death simpson was ordered to pay 33.5 million in the 1997 wrongful death suit and attorney for mr. goldman father said that simpson owed the family more than $100 million at the time of his death. johnson & johnson earnings hitting the tape a few moments ago the dow component with earnings per adjusted to 71 that was a beat, brevity 21.38 billion, the revenue number was shy of the estimate of 21.4, the court was boosted by strong sales of the cancer drugs including the blood cancer treatment czars elects. sales of the drug still lara were flat. , the dow component is down almost 2% that might be tied to the forecast for the year they narrowed the range of their forecast. then this caitlin clark make it official, the indiana fever selected the iowa hawkeye star

with the first pick in yesterday's wnba draft, check it out. >> with the first pick in the 2024 wnba draft, the indiana fever select caitlin clark, the university of iowa. >> the wnba clark is set to make $338,000 over four years overworking deal that includes 76000 in your rookie year end 97000 team option in 27 we don't know she signed the contract, the first ever to be styled by prada in the wnba or nba draft. he reports say the indiana fever jerseys sold out in one hour. maria: i like to look, she looked good. >> i like her and prada she looked great. >> israel's military chief is

alena response to the iran's weekend attack on israel but provided no details on timing local media is reporting that israel is preparing the warplanes to carry out a retaliatory strike, president biden talked about irene's attack on israel with iraq he prime minister at the white house yesterday. watch this. >> iran launched an aerial attack against israel and we mounted unprecedented military effort to defend israel. together with our partners we defeated that attack. the united states is committed to israel's security. maria: joining us faxed to senior strategic analyst chairman of the institute for the study of war general jack keane. it was a pleasure. your reaction to all of this. >> certainly i think the significant takeaways of iran conducting a significant escalation more than people thought they were going to do

and they were certainly looking for a mass casualty event as a result of their attack but they were handed a stunning and humiliating defeat which really has exposed the weaknesses that iran has in military which we have identified before right here on your show, the most resource organization in iran's military is a rocket and missile forces and yet these are the same forces were 50% of the ballistic missiles malfunction in some regard and were never even to get close to the target. that is absolutely stunning and the other thing that is significant certainly and validated israel air defense system and we've seen a lot of the iron dome in terms of knocking down rockets and missiles but david's sling and arrow erupted with medium-range

missiles and ballistic missiles and also our patriot system which was working that night as well. the breaking news and a sense is the united states and its partners for the first time ever the united states fought side-by-side with israel since it was formed as a state in 1948. we did that in concert with partners in the details of that is quite remarkable. it begins with intelligence, the arab states haven't been notified by iranians of their going to fly over their territory to get to israel and the timing of that. those arab states provided the information to the headquarters which obviously provided to israelis. secondly when the missiles began to fly, the persian gulf states on their radar began tracking the missiles, that information transferred to the forward

command post that sang, has in qatar and that in turn was transferred to the u.s. airplanes to the uk airplanes, the french airplanes and also jordanian airplanes as well as the missile batteries that it israel has. that is absolutely remarkable achievement. this headquarters is the most experience while fighting headquarters the united states has in central command and it's used to dealing with multinational partners in putting together war plans, that is what we saw and it is remarkable the cooperation of the arab states in defending israel, that is historic in terms of what is happening this is a paradigm change, the flipside of that which they will not talk about publicly is the arab states want hamas destroyed they wanted change of leadership in palestinian authority do they

want a palestinian state, yes they do but they also want relations with israel. the number one threat in the region is iran and they look at hamas as a cancer in the region that needs to be stamped out that takes away with dealing with the number one iranian threat. maria: this all sounds good the coordination and impressive to see the u.s. really stepping up to assist israel but the language coming out of the white house does not correspond without all the time, you know what i'm referring to whether it be the democrats attacking benjamin netanyahu in the middle of the fight of his life or president biden tried to get a cease-fire underway or trying to stop israel from retaliating. fike and joe fox news peter doocy grilled the administration on the messaging to iran and around israel. i want to get your reaction. >> as president biden considered beefing up the public iran

posture to be more than just one word. >> you referring to don't and they did it anyway. >> let's talk about joe and what did iran utterly failed and if i'm sitting in tehran i'm betting that president biden takes it pretty seriously when he says don't escalate. >> now that we know that iranians do not listen to president biden's public warnings is there any regret about unfreezing billions of dollars for iranian leaders during the president's administration. >> what unfreezing are you talking about. >> for iranian leaders, really i don't think so, none of those funds funds set up by the previous administration goes directly to the supreme leader the irgc can only be used for humanitarian purposes and were watching the account very, very closely.

maria: the monies going directly to the supreme leader as if he's going to use that for healthcare and food for its people. >> of course we've said this from the beginning many of the rockets and missiles that the israelis and their partners that were able to defeat are literally paid for by sanctioned relief money, hostage exchange money, the fact that this administration is not enforcing the trump sanctions on oil embargo. iran and with the biden administration took over it was producing 2 - 300000 oils under barrels of oil a day now they cost 4 million there flushed with money, why is that because we've eased up on the sanctions so we are fueling the funding for this activity and secondly because of our appeasement and concession strategy with iran he from the beginning with the administration took over. i think we have emboldened iranians just like we emboldened russia and just like we have

emboldened china with the lack of strong leadership and willingness to confront them. i don't think there is october the seventh hamas attack nor the operationalizing all of the proxies after that in a ring of fire around israel if the iranians did not think they could get away with this and for three years the administration demonstrated unequivocally that they could because we have never confronted them on anything. that is the reality of what were facing and as we just pointed out we fueled the support financially for what they're doing. maria: exactly. it's an unknown. are you expected a retaliatory strike from israel into iran? >> absolutely, they told us t that. they cannot normalize the fact that iran conducted a massive attack on their territory. they have to respond.

i give them credit for picking the right vehicles, the right targets in the right scale. they know what they're doing when it comes to something like this just as they know what their doing with the war in gaza. but stay out of their way and get it done. if they need our help with there to help them. maria: also being incredibly transparent trying to get citizens out of the way announcing what they're doing before their doing it. it's always a pleasure to see you and we appreciate your incredibly valuable insights. general jack keane joining us this morning. we are breaking news, bank of america earnings have hit the tables, will get to cheryl casone with the numbers. >> we have a double beat for bank of america but issues the stock was trading lower at the last second, earnings-per-share coming in at 83 cents. it's taking higher the estimate was for 76 cents. the revenue 25.82 billion the

estimate was 25.46 billion profits were down because they made less money from customer interest payments. also deposit balances were higher by 14,000,000,001.91 trillion in the deposit balance they also throughout 1.3 billion is a provision for credit losses and all the other banks that we watched reports so far this season are putting money back into the fdic's 700 million coming from bank of america there, i know that you want to know this, global wealth and investment management 5.59 billion that was a jump of 5%, global banking revenue, banking revenue fell by 4% with the consumer banking revenue also followed by 5% but investment management is a street trade so were waiting on morgan stanley that's coming up in the next hour but the active trading equity trading, the one

thing and the bright spot of the stock is down almost 2%. maria: it sounds like there was lightness on the landing part of the business but investment banking we had a very busy investment banking. in the first quarter whether the bond business or equities as well and deals as well. the stock is down almost 2%. thank you. we'll be right back. (♪) (♪)

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don't wait, go straight to golo.com. maria: welcome back as he reported bank of america earnings, double beat of 83 cents a share adjusted earnings-per-share, revenue coming in at $25.82 billion the stock is down one and a third% we are zeroing in on a decline in lending activity. mark tepper, your reaction. >> just like we've seen out of the other banks goldman sachs, j.p. morgan very strong as it relates to mna and strong trading revenue strong wealth management and asset management which is all recurring revenue since the stock market was up substantially in the first quarter. the issue as you mentioned loan demand and obviously bad debts. we talked last week about the second largest office building

in cleveland, ohio the huntington building which bank of america took $100 billion loss on as that was sold. there is certainly issues as it relates to loan demand, office vacancies right now are at an all-time high, those are the headwinds that a lot of these banks are facing right now. maria: one of the issues as interest rates, let's face it look where we are were pushing higher right now so the guidance in terms of next quarter with rates elevated cannot be what markets want to hear. maria: we've been focused with the quarterly reporting season on net interest income from all of the banks that is a true story and a problem for bank of america we saw that with j.p. morgan chase and it's an issue there but really watching the stock right now i want to say really quick i was surprised by the 1.3 billion provision for credit losses.

to mark's point about the consumer, the economy the credit card balances city non-americans and their wallets right now, what are they saying 1.3 billion aside that is a big chunk for them. maria: we will talk more when i speak with rbc capital market analyst coming up. he is so good we will get his take not just on be of day but what he's expecting from the regionals. gerard cassidy is coming out join us for that we have the hot topic of the hour on the other side of the brick you are watching "mornings with maria", stay with us.

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