be sure to check out my latest book "the russia hoax, the illicit scheme to clear hillary clinton and frame donald trump." have a great weekendvevevevevev. good night from new york. maria: happy weekend. welcome to a spoacial one-hour edition of "wall street." the program that analyzes the week that was and helps position you for the week ahead. thanks for joining us. we have a fantastic lineup of heavy hitters coming up on the program this weekend. north american ceo is my special guest, along with a hedge fund billionaire, and my powerful interview with former vice president dick cheney. first, for the big headlines, connell is standing by in the

fox newsroom. a huge week for the president on the international stage. president trump announced that the u.s. will withdraw from the iran nuclear deal. the president also announced he would reimpose the nuclear sanctions on iran in place before the 2015 deal. the sanctions expected to kick in after 90 days. the white house announced the time and place for the president's historic meeting with north korean leader kim jong-un. president trump will meet with chairman kim on june 12th in singapore. the announcement came of secretary of statepompeo's meeting this week. oil prices continue to climb. crude searching above $70, hitting its highest point in three and a half years. analysts cite the u.s. withdrawal from the iran deal is one of the reasons for the rally. all this means you're going to end up paying more at the gas pump. gas pumps could hit 3 bucks a gallon nationally. the average already over $3 in ten states. the volatility that's hit

the stock market recently faded this week, along with inflation fears. all three major indda indexes finishing in the green. disney crushed the street's estimates reporting a profit of $2.94 billion. that's 1.84 a share, up 23% from last year. the earning surge due in part t the recent movie blockbusters like "black panther" and ford announced it was suspending production of f-150 pickup trucks. the suspension due to a fire at a facility that led for it to run out of parts maria, back over to you. maria: thank you, connell. despite global uncertainty, marketmarkets rallying. the dow extending its longest winning streak in more than three months. my first guest is running the

entire north american vision. the north american ceo. thank you for joining me. >> good to be here plb the markets have been really strong. i want to fete your take on what you're seeing out there. tell us about your business lines and whethe whether or note seeing this kind of euphoria from your standpoint. >> the goble economy ha the glon strong. it's one of the best metrics, the world economy has seen over the last probably 15 years. maria: that's a very good number. >> and it' it's across all regi, it's asia, the u.s. and it's europe. the turn around in europe has been quite impressive, supported by a central bank that has applied what the fed had been applying for many years in terms of supporting low rates and providing liquidity and stimulus

to an economy that is doing pretty well. the gdp is close to here in the united states. maria: right. >> and the unemployment rate is at its lowest for the last moo years as well. maria: the u.s. as well. how are the capital markets businesses doing. let's talk about your welt management business and what you're seeing in terms of transactions. >> the main comment i would have on markets is the return of volatility. last year was quite abnormal in the sing the digits. today it's back in the double digit space between 15 to 20 and it's been really good for the business because clients have become more active on the tran transaction side, as well as market activity. it's one of the largest derivative banks in the world. clients with the volatility we see really focused on hedging,

on protections, on risk management. and we can advice them quite efficiently across the main impacted areas, rights, currencies and commodities maria: are you expecting m and a to pick snup. >> we'vpick up?>> it's across i. usually it's one or two. here it's been generic. part of it is another round of consolidation in some of the most material industries. but what's been interesting and beneficial, we've seen it picking up in the transatlantic dynamic. we've been supporting european investors in the market for capturing markets. it's incentivized more. getting more aggressive and ambitious in the u.s. markets. maria: what do you see in the wealth management business?

do you see investors today wanting to take risks ? -l are thigh wanting to move to various different alternative investments or are they looking at the stock market? >> that's a very good question. at times with clients i see conversions and at times i see different trends. here it depends on the risk. across the asset classes, because of the status of the world economy and the positive dynamic we see particularly in the united states, i see them still looking aggressively for yield as long as they can understand the fundamentals and the underlying risk they're taking here. but to your point, we've seen recently, you know, my position, i have the privilege to sit between main street, the activities that we have in the united states, wall street, investment banking platform and

international markets. because of the strength and status of europe, we've seen investors and invested money kind of going away from the u.s. government and asian environment and being reallocated into europe because of the expectations there. and if you look at the last two months, europe and equities have outperformed u.s. equities by 5%. maria: people feel maybe there was more growth potential in europe and the valuations were lower? >> absolutely true. maria: we have a lot more to discuss when we come back. later this hour, my interview with former vice president dick cheney and billionaire investor. sphastay with us. the biggest threat facing fg the united states right now, former vice president dick cheney's answer might surprise you. >> the chinese long term are the most serious. have the most capability. >> maria's interview is coming

up. plus, is the bitcoin bubble about to burst? >> i got off of the stage and i literally got mobbed like i was bruce springsteen. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.

special one-hour edition of "wall street." we continue the confers right now with north america ceo. and johnny, when we were talking about markets, obviously people are wondering what the fed does next and the european central bank. how are you worried that the fed blows it and raises interest rates too many times but has issues of winding down this balance sheet and perhaps sets us up for a big decline? >> well, you mentioned actually the situation in england versus the situation in the u.s. it's a very good point that we

can start with. on the european side, on the u.s. side, two slightly different situations. i think in this dimension europe is lagging behind in terms of timing. maybe three years, what's happened in the united states, which is why you see the comment from the bank of england or the comments from the ecb, which is still in the easing mode, even though they're tapering. on the u.s. side, it's going to be a matter of growth. how well the economy does. and candidly of inflation. and there is no question today, which is probably a good thing in the united states, it's picking up. see the fed hiking another three times in 2018. maria: yeah, because we've got a strong economy. that was the debate. is it another three times or another two times. >> and based on what we've seen recently, it's likely that three

times will happen. your point is well taken. a median turn. how do we make sure globally that the central bank or u.s. banks that we protect this excellent momentum. it's going to be a matter of adjustment and being in a constantly listening and observing mode. we can give credit to central bank, the fed, for having maneuvered in a quite astute and efficient way. maria: the reason that i ask is because there is a narrative going around that things will slow down quite a bit at the end of '19 going into 2020. the consumer, the last gdp report, the consumer spending pa of i was the slowest rate of snding in five years. so do we see a slowdown on the horizon. we know that this economic expansion is getting older. >> and it's a real point. and particularly here, you know, consumer spending is 70% of the u.s. gdp. no question this is something

that they watch very carefully. in the meantime, if you look at the status of the u.s. capital markets here, let's take some perspective here. last year the markets were invested in u.s. equities, tax reform was kicking in, deregulatory actions were positive. but it was pretty much a setup for potentially a selloff which you've seen because of some, you know, trade discussions by the way which brought more volatility as well as the providing the more complicated -- maria: it's great to see you. thank you so much. >> glad to be here. maria: don't go anywhere. former vice president dick cheney coming up. but a new business to tell you about

legendary billionaire investor warren buffet called bitcoin. >> it will go back once we have a custody solution that people really trust. later in the hour, the date is set. president trump will meet with north korea leader kim jong-un in what could be a defining moment in the president's legacy. >> if you told me this was going to happen, i would have been surprised. i would not have expected that it could happen. >> maria bartiromo's powerful interview with former vice president dic dick cheney. president dic dick cheney. you don't w ♪ with expedia you couldok a, hotel, car and activity all in one place. ♪

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[ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. bitcoin prices have been rallying the last few weeks. jumping 50% in price in early april the now 9,900.

michael november gratz is a bitcoin believe. now launching a kri cryptocurrey index and he's joining me now. mike, great to see you again. thank you for joining us. you've founded a new crypto currency index. >> indeed. we teamed up with bloomberg in a partnership. the idea was to give the crypto community a hedge park to compete against. i was thinking s&p came out in '62. the gs commodity index, the gsi, i was on the trading floor when that happened. and the idea was -- at goldman sachs. the idea was to give institutional investors access to the new asset class. and we felt this same thing with the index with bloomberg. give the first institutional

quality index that will slowly allow real institutions, pension funds and southern wealth funds, big pools of capital to move into this exciting new space. maria: for a retail investor, for example, who wants to get involved in bitcoin, maybe they're not sure about doing specific investment in bitcoin only. you can get into the index and have exposure to lots of different bitcoin. how many. >> the biggest crypt cryptocurr. it will grow up to 15 coins once there's enough volume and liquidity on the right exchanges. and bloomberg actually runs the whole process. maria: you were really one of the early believers. you bought bitcoin first at like what price? >> like $96. maria: it went up to what? what was the high? >> 19,900. maria: that's incredible. did you sell a lot of that?

>> i sold a lot along the way. part of it was literally a year ago this time i gave a speech at a conference -- there are conferences thursday, friday and all next week. the big conferences consensus, the's 7,000 people tha have paid2,000 shot. maria: wow to go to the conference. >> so i spoke at it last year and i got off of the stage and i literally got mobbed like i was bruce springsteen or bon jovi in new jersey and that to me was a great sign to start selling. and it was like 11,000 at the time all the way up to $19,000. and it felt like we were at the tail end of the mania last year. and it was. i think the retail bubble popped in january when we got to 19,000 in bitcoin and then 1300 in e near yum. then you had a 75% correction which was quite painful. maria: sure. what did you see when you bought

it below 100, 96. what did you see that maybe others didn't? you were really an early believer. why did you know that there would be promise here? >> you know, the whole crypto revolution comes out of a breakdown in trust and institutions. and if you think about post '08 and then we did the quantitative easing. the process took a long time. 2012 we had the european financial crisis. it was right there when bitcoin was kind of starting to at least break into my zone, you know, the white paper was written in 2008. and it felt like there are enough libertarians, enough people that thought inflation is going to a zillion. i mean remember, really smart people, people like paul singer was wanting to throw ben bernanke in jail because he thought we were going to hyper inflate the world. so there was a real sense that this is an alternative for cyber

punks, the libertarians. maria: and an alternative for gold. >> in my mind it's an alternative of gold. let me store my wealth somewhere. the computer science is really cool but just as cool is the token mechanism to create social networks. these are peer to peer networks. we don't have to trust the center. we can trust the network, the crip tolling inside the computer science. >> which is why block chain was believed. it's a structure you can trust. >> block chain is a database. it's a really good database and you're going to see private block chains all over the place. it would be shocking to me if every corporate treasury in five or ten years doesn't have a block chain treasury. because it's so much more efficient. you think about microsoft has offices all around the world and at the end of the each day

microsoft taiwan is going to equal up with the san francisco office or the german office. and you know, they're wiring money all over the place using the swiss system. in a block chain database, they can hit the one button and the ledger just -- you're cutting out lots of people and lots of mistakes. maria: what do we need to understand more about bitcoin do you think? will we see bitcoin go back to the highs ? -l. >> bitcoin will go back to the highs once we have a custody solution that people really trust. what's interesting is -- it's a grand irony in some ways. the coins themselves, when they're floating out in the ether, if you want to think about it, are really safe. what is at risk is your private key. so you've got a key with lots of letters and numbers on it. your access to your coins. if you lose that key, you've lost your coins.

so protecting those private keys is a big industry. there are all kinds of custody solutions quite frankly that are really good. i feel 100% certain that they're safe there. but i also know if you're sitting in the state of wisconsin and you're responsible for, you know, your state's pension money, you're probably not going to risk your career on a company that's called zappo just yet. you're going to feel better if it says bank of new york or goldman sachs. maria: a good analogy. >> until we get institutional custodians to say hey, your keys are safe. the big institutions are going to be more rhet red sant rb. maria: and they have been. >> i've seen lots of players spending time and every trying to figure out ho to get into the business. you're going to see big

announcements saying we'll custody this stuff. maria: very pioneering of you. bci is the index designed to track the performance of the liquid positions of the crypto currency market. let me get your take on the stock market and the broader markets out there. what's your take on where we are now? >> we're in a rate cycle where the rates are going higher and the fed i think is going to continue to push rates up higher. i don't think they're going to accelerate but they're going to keep mushin pushing the rates h. we've got a president that creates lots of instability, good and bad. there's more risk. rates are going higher. at the same time, a synchronized global rate system. i think the stock market is going to stay volatile but grind higher unless, you know, long, because out of risk-adjusted basis, it's a riskier trade. but i think, you know, we still have enough money in the system

that we're heading higher. maria: and it's a good backdrop, economy doing well. >> economy is doing well. maria: north korea willing to give up its nuclear ambitions, we're told. >> we're told. maria: we'll see about that. >> the europe than economy is doing okay, the japanese economy doingkay. the first time i can remember that we've got a synchronized globalhift to the right. and if we get an inflation number like yesterday, a little lower -- because the risk really would be that the fed has to accelerate and rates go up and finally we say what are we doing. maria: inflation hat been on han issue. >> we have a goldilocks situation. maria: thank you so much. check out the index bgci. stay with us, my interview with the former vice president dike chanedickcheney is coming up. president trump pardoning scooter libby ten years after president george w. bush refused to do it. >> scooter was convicted

unlawfully so, a trumped up charge. >> that and more just ahead in and the safey for "most parallel parallel parking job" goes to... [ drum roll ] ...emily lapier from ames, iowa. this is emily's third nomination and first win. um...so, just...wow! um, first of all, to my fellow nominees, it is an honor sharing the road with you. and of course, to the progressive snapshot app for giving good drivers the discounts -- no, i have to say it -- for giving good drivers the discounts they deserve. safe driving!

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