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tv   Maria Bartiromos Wall Street  FOX Business  August 30, 2024 7:00pm-7:30pm EDT

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>> from the fox studio in new york city this is "maria bartiromo wall street". maria: happy labor day weekend to all welcome to the program that analyzes the week that was
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in position you for the week ahead. i am maria bartiromo, battle bomb underground plates the trump here's campaign hitting the ground hard and key swing states with a big focus on the economy and how it's impacting hard-working american families. >> over the past four years, the harrison cricket joe biden have resided in economic committee one financial atrocity after another. i'm going to make america affordable in a addition to make it a great to make it affordable again and that's going to start on day one my vision is for middle class that is once again the envy of the entire world and if it's going to happen is going to happen fast. >> harris is part of the prolabor administration in history unafraid to walk picket line with workers demanding more from better pay and conditions. donald trump and jd vance have something a little different in mind. the only thing that they know about working people is how to take advantage of them. maria: less than a week away from the first mail-in ballot getting sent out to voters next
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friday in north carolina and then of course early voting begins on september 19 in pennsylvania that is four days before harris and trump are set to debate on september 10 and until this thursday we have yet to see an interview with kamala harris. >> first of all we had to recover as an economy and we've done that, i'm very proud of the work that we've done that's brought inflation down to less than 2%. the work that we have done to cap the cost of insulin at $35 a month for seniors, we created 800,000 new manufacturing jobs bringing business back to america. what we have done to improve the supply chain so we are not reliant on foreign government. day one is going to be about implementing my plan for what i call an opportunity economy i laid out a number of proposals in that regard. maria: as wall street journal poll shows the human could dream is feeling more out of reach than ever before for many voters with the majority admitting that owning a home, raising a family and securing a comfortable retirement seems unlikely even
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with hard work, joining us can't decide a roger marshall, good to see you thank you for being here the polls are quite disturbing that the american dream is further out of reach for somebody out there. your reaction to this and what policies are needed to take us back. >> you sound like you've been in my town hall over the past two weeks we've done 50 town halls and that's exactly what people are talking about. the american dream is no longer in reach, this american dream of owning a house and raising a family. a big difference between this year end a year ago when the town halls and peoples credit cards are now maxed out and they could no longer afford the mortgage payment mortgage payment has doubled under the biden here's administration in what can be done is really simple, going back to the basics of a competitive economy we need to unleash american energy to start within/regulation, all
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these town halls people tell me they are just grounded in these regulations as well, rollback regulation and release american energy and that will help start driving everything else down energy is an inflation multiplier. maria: obviously the wide-open border has incredible applications from crime and safety to jobs. one analyst says this is too much supply, illegals are getting the jobs in the american citizens are not we have the august jobs report coming out next week the first one since we saw the largest downward revision in 15 years on job creation it showed 818,000 fewer jobs were added and originally reported over a 12 month period, how did we get that many jobs wrong, gop senators are demanding more from answers from the labor department in your leading this charge and wanted investigation into how this happened, what can you tell us. >> obviously these numbers have been manipulated this is election interference.
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again the theme to my town halls, americans don't trust the government, this is another reason they don't trust the secret service, they don't trust the justice department they don't trust the department of labor, in reality america has lost 1.6 million full-time jobs of the pasture, there's 2 million people that have not returned to work since covid this economy and credit cards are maxed out in the price of gasoline and grocery stores are not coming out, was not coming down is the people that are complaining is the cost of their insurance and the cost of childcare in the cost of rent in the cost of a mortgage, those are not coming down and their safety and security those are the 1a, 1b issues i'm hearing from americans. maria: it goes back to policy $7 trillion in spending on the biden here's administration watch that is obviously in retrospect too many dollars
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chasing too few goods. after inflation went to 40 year highs is getting harder and harder to rein it in. >> again, what is a solution, we rollback regulation and we set american energy free and we get a budget done in congress, that is my responsibility and i held it, or send a budget needs to do which job as well, all the fuel inflation, energy fuels and the government printing dollars, there is a trillion dollars heading out there that joe biden kamala harris have already authorized that we can grab and stop it from hitting the market were not get to see inflation slowed down until we get american energy that loose until we drill baby drill in the federal government starts balancing its budget. maria: some of your colleagues in the house told me they want to save act connected to any continuing resolution that you all do when you come back from recess in september, the save act of course is a bill that
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requires proof of citizenship in order to vote. do you believe the save act will be attached to continuing resolution when you return to work in september. >> unfortunately i don't election time consequent is, chuck schumer controls that agenda and we don't see how it allows that to happen they want illegal aliens to vote take the hometown of san francisco they allow illegal aliens to vote in local elections we see them in new york city and washington, d.c. and virginia and texas purge their voter rolls there obligated there obligated to people who shouldn't be voting not only is it not going to happen chuck schumer and kamala harris want these illegals voting for them this is why she left 11 million people enter to the border into our country illegally under her watch. maria: then the china policy to
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understand china cyber attack posing a major threat to make and security beijing hackers launch the most aggressive campaign of the u.s. yet aimed at spying on millions of americans, the washington post is even reported that these attacks have hit two major internet providers sense june they believed to be gathering intelligence from governments in military personnel as biden and chinese president xi are set to speak on the phone in the coming weeks i drink government agency appeals around backpackers continue to target u.s. organizations in education, finance healthcare in the defense sector. mike walks from house foreign affairs committee had this morning. watch. >> were under tsunami of cyber attacks from both iran and china, we have to go on offense and demonstrate strength and start imposing consequences, you cannot expect every company in every pipeline to play perfect events against the state actor like chinese intelligent.
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maria: this is getting downright scary relaxants i got to congress six years ago i been saying we've been more concerned about cybersecurity attacks from the ccp along with bio security attacks, congress and walz's fought on by what he's talking about, we need to go on offense. i'm calling on homeland security when it attack like this happens let's have a counterattack i'm tired of watching this happen we should be more concerned about cybersecurity and bio security then how many obsolete votes the ccp has make no mistake about it the cyber attacks are pioneered by the ccp and behind all of this accumulating data so they can use it against you later. maria: that is really disturbing think great to see you we will be watching. maria: senator roger marshall.
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maria: welcome back here's where markets ended the month of august after a busy week this week for wall street, technology giant nvidia be expectation but gave disappointing guidance, we have an update on second quarter gdp came in higher-than-expected, 3% and new numbers on the federal reserve key measure of inflation the pce for july next up the august jobs report next week which takes on more importance after the labor department massive previous revisions 818,000 jobs and no longer there joining the bullseye in new do some portfolio manager adam johnson, great to see you. maria: what do you want to do going to year-end in terms of allocating capital. >> on the last optimist standing there's more like that not to like and you hit on some of the points we have gdp growth and
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lower inflation which means we have recut coming and we have earnings and even very solid 9 . maria: let me get your take on the nvidia quarter it was better than expected in stock sells off a preset and comes back was all the way back in the regular session, what is the story on nvidia i know you own the stock. >> i voted for a long time and as you talked about it i sold a little and buy a little bit back here's the story nvidia be on the top and bottom line by 5% they raised guidance and guidance implies growth of 85% and yet for some that was not good enough and that's why the stock sold off, growth was 2 - 3 hundred% and they say only 75 - 80 and must be over, it is not over by nvidia on the dip. maria: when you're successful in a success story nvidia the expectations go higher and higher so there you go. i want to get your take on next
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week's data the bureau of labor statistics as we know they canceled 818,000 jobs that we thought were there, they weren't there. now the upcoming jobs report seems to take on more importance how important is a job number next week. >> i'm going to say something that some may see as unpopular and i don't think it matters. i'll tell you why it is a mess what they did they screwed up the numbers going back for the past year. we know that but the reason it does not matter that chairman powell has told us he's cutting rates he said it is time to change our policy and the time is going to be september. i don't think the jobs data that we're going to see and some would argue that i have this wrong i don't think so because i think interest-rate matter more than the given monthly job number especially since the job number seven wrong chairman powell does it in september and the market like that that's a more important story.
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maria: this is one of the last jobs reports before an election. >> and.there's what really matters while the jobs may not matter for markets it absolutely matters are kamala harris the reason being that thing on wall street called the misery index where you at inflation, cpi in the and employment and if that goes above 7.3 historically since world war ii and cabinets lose right now it's at seven-point to it is right th there. if what we find employment rises and we get a little uptick in inflation that's very bad for the here's campaign. i don't think the job matters for the market but i do think it matters for the here's campaign. maria: these are different campaigns and policy proposals. kamala harris his blaming corporation for inflation and price gouging and president trump is trying to tap into the energy capacity in america these will be different scenarios for business and the economy. >> impact that for a moment
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kamala harris campaign could somehow say supermarkets which of 2% profit margins were lower are somehow gouging that is crazy that someone who's trying to find an opportunity to gather more both in an election year it's like tossing college kids and sandra get it cut your student debt. why don't we try to help people who are late on their mortgages. buying votes meanwhile the trim campaign that plans to lower taxes and lower regulation, increase drilling on federal land for the cheapest oil is in the will unleash the american ingenuity and creativity that i tap into in my fund. very different visions for america the trump here's campaign. maria: the mag seven coming back to life now that they're off of
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the high do you want to own the stocks. >> i do i call them core ingenuity and is a look at the composition of the fund 38 positions in the mag seven plus salesforce in palo alto for customer relationship management software and cybersecurity respectively i think you have to own the group is core ingenuity we can debate whether 3% or 4% or 5% but you have to own them there essential to the economy. maria: anything you want to avoid. >> there are no sectors but i will tell you i was on super microcomputer to wonderful company in the restating earnings and i can't quantify that so i had to cut it and i manage the portfolio one stock at a time i like to think i got them right but that when i got wrong whether for manage the top
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down i manage from the bottom up, one stock at a time. maria: thank you so much, frat brothers getting healed as heroes for defending the u.s. flag from anti-israel riots, will talk about the climate on campus now as he's returning for the fall semester. that is next. stay with us. ok limu! you set it, and as i spike it, i'll tell them how liberty mutual customizes car insurance, so they only pay for what they need. got it? [squawks] did you get that? only pay for what you need. ♪liberty, liberty,♪ ♪liberty, liberty.♪ what the biggest companies deliver
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gofundme raised over half a million dollars to throw a party this labor day to celebrate the patriotic group brandon rosenblum held up an israeli flag amidst the chaos and he joined me right now. thank you for your patriotism and congratulations, are you surprised by the support and recognition that you and your fellow fraternity brothers have gotten as a result of this. >> thank you so much for having me on, in my surprise, yeah we started with one or two people at the protest representing our beliefs and what it meant to us and for people to nationally recognize that and donate so much money for the acts that we did is amazing and i think all of us appreciate it in the students it felt small and our beliefs feel a lot more supported and what we believe in. maria: you not to go to the party you say it's too early to celebrate. >> i think there are two parts to the story the first is the
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american side that everyone understands and understands impacts of acts and when everything happened with the incident that american side the patriotic side was instinctual we went and held up the flag together and that's always going to be a part of who we are we are americans but there's a second side of the story, before this was an american event and before the flag came down this is israel palestine situation we were there to represent the jewish people and israel in our support not and unfortunately there is a word going on in people dying in u.s. soldiers within gaza. it's important to hold true to those beliefs and right now i don't think it's a time i celebrate while that is going on. maria: we are praying for all those people, we know students are back to school across america this week and we see anti-israel protest again
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including a massive gathering at cornell this week chant. >> palestine will be free. maria: incredible to watch this what is it like on the unc campus right now. >> first of all is a lot to see and handle and obviously the students have a right to protest is a god-given right. however, the radicalism that iss in these perches there was a protest on campus the other day i got all the protest to see what's on campus and within the speeches let's be the most radical and say the most radical things that's very problematic in the sense where we should be on the space where we can have open dialogue and promoting the sentiments and the destruction of israel and the israeli people and doesn't promote dialogue or any healthy relationship between the student body and the differences in opinions. maria: what you want to see with the leadership at universities if the startup with the fervor
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that we saw a few month ago. >> all i asked for the university is to promote open spaces and dialogue and promote civil discourse and really trying to understand where people are coming from and that your experiences rather than yelling and screaming at each other and thinking that will make any change, the real change is trying to understand our individual experiences and why we have our beliefs rather than promoting radical views that doesn't help anyone. maria: especially since we have diversity views across the universities that's what were looking for a lot of voices. great to have you, thank you so much for all of your work brandon rosenblum joining us. >> thank you for having me i appreciate it. maria: one important thing ahead of next week, that is next.
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maria: welcome back one thing you need to know ahead of next week are you ready for this nfl season kicks off next thursday with the ravens facing against the defending super bowl champs kansas city chiefs created the cost a bit more to get to the game this year with nfl ticket price is up 9% overall, some fans will have to tack on higher costs another's the detroit lions have the most expensive average ticket in the league the season at $254 while the saints are selling the cheapest on average at $43 we will be following on the sun "mornings with maria" 6 - 9:00 a.m. eastern weekdays on fox business i hope you will join me weekdays right there for "mornings with maria" that will do it for us on fox business. thank you for being with us have a great rest of your labor day weekend and i'll see you next time. >> "barron's roundtable" sponsored by global x etf's ♪

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