tv Maria Bartiromos Wall Street FOX Business May 13, 2018 8:00pm-9:00pm EDT
8:00 pm
and they are teaching anti- americanism. >> lou: keep up the great work. we appreciate you for being here. and join us tomveveveveveveveve. 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
8:01 pm
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
8:02 pm
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 to 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
8:03 pm
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
8:04 pm
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 digitpace between 15 to 20 and it's been reallyood 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,
8:05 pm
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
8:06 pm
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
8:07 pm
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
8:08 pm
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. mom? dad? hi! i had a very minor fender bender tonight in an unreasonably narrow fast food drive thru lane. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness. which is so smart on your guy's part. like fact that they'll just... forgive you... four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it. never owned a business.e term "small business," there's nothing small about it. are your hours small? what about your reputation, is that small? when you own your own thing, it's huge. your partnerships, even bigger. with dell small business technology advisors you'll get
8:09 pm
the one-on-one partnership you need to grow your business. because the only one who decides how big your business can be, is you. the dell vostro 15 laptop, with 7th gen intel® core™ processors. for le he in israel who are in desperate need. these are very difficult times for israel and the jewish people as the government spends more and more of it's resources for battling terrorism. the situation has become a crisis. every week the lines get longer and longer. there are more people who come than they expect because the numbers keep growing. the bible teaches, "blessed is he whose help is the god of jacob." "he upholds the cause of the oppressed and gives food to the hungry. this $25 food box will provide one desperately need family here in israel
8:10 pm
with food, with hope and with a note inside each of these saying that it is from christians and jews in america who seek to bless them. with your phone call right now a food box will go out to one desperate family in israel. inside the food box is a special note that will bless them and will let them know that america stands strong in solidarity with israel in their struggle for survival. many of these people are ill, they're sick, they're alone. they don't have the money to afford things that many of us; most of us take for granted. i ask you to please help. go to your phone and tell us that you stand with israel at her time of need. israel and it's people need your help now.
8:11 pm
you can make a life changing difference by calling and saying that you will give a $25 food box to help a family in need in israel. thank you and god bless you for your support. 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.
8:12 pm
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
8:13 pm
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 part of it was the slowest rate of spending 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.
8:14 pm
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
8:15 pm
about legendary billionaire investor warren buffet called bitcoin. >> it will go back once we have really trust. later in the hour, the date is set. presentrump 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 man: i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. man 2: it was raining, there was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting, (thud) bam hit the truck. try explaining that to your insurance company. woman: another ding, another scratch. it'll just be another chapter in the story. every scar tells a story, and you can tell a lot more stories when your truck is a chevy silverado.
8:16 pm
the most dependable, longest-lasting, full-size pickups on the road. ♪ he eats a bowl of hammers at every meal ♪ ♪ he holds your house in the palm of his hand ♪ ♪ he's your home and auto man ♪ big jim, he's got you covered ♪ ♪ great big jim, there ain't no other ♪ -so, this is covered, right? -yes, ma'am. take care of it for you right now. giddyup! hi! this is jamie. we need some help. a cockroach can survive submergede guy. underwater for 30 minutes. wow. yeah, wow. not getting in today. not on my watch. pests never stop trying to get in. we never stop working to keep them out.
8:17 pm
terminix. defenders of home. i'm not really a, i thought wall street guy.ns. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade
8:18 pm
8:19 pm
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
8:20 pm
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?
8:21 pm
>> 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, there's 7,000 people that have paid $2,000 a 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
8:22 pm
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
8:23 pm
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
8:24 pm
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.
8:25 pm
so protecting those privaeyte 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
8:26 pm
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
8:27 pm
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 is doing okay. the first time i can remember that we've got a synchronized global shift 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.
8:28 pm
8:30 pm
8:31 pm
because of all those miles? and because ice is cold. what's in your wallet? . maria: welcome back to this special one-hour edition of the program. earlier this week i sat down with former vice president dick cheney at the conference in las vegas. i started off asking him what he thinks is the most important threat facing the united states today? >> i guess my concern is i sense there are several rising at once. you know, we used to say well, it's the russians or it's the chinese, but i think the chinese long term are the most serious, they have the most capability, and made some phenomenal gains economically which they are kwerlting to better military capability and so forth. the russians are governing by
8:32 pm
putin. makes a difference whether gorbachev is in town or putin. putin, obviously, is looking for opportunities to create more problems in eastern europe. he's clearly active now in the middle east. we drove him out of egypt in 1973, he's back now in syria. i look at the situation in korea, of course, is in a state of flux. fascinating what's happening. i hope president trump is successful, and his enterprise over the years, we've been sort of drawn in on more than one occasion, but so far, it's interesting to say the least. i also worry about iran, and iran was a major problem for us to be concerned about, in terms of their nuclear developments, their sponsorship of terror, probably the worst terror sponsor in time.
8:33 pm
heavily back in the irgc, iran republican guard and so forth. i worry about them from the standpoint of proliferation of nuclear weapons. maria: so what should be the next step here? a lot of people are saying yes, it was a horrible deal, but where do we go now? are you worried that iran comes back with some retaliation? >> well, i'm not -- i'm not concerned about that aspect of it, i think the iranians are going to do what the iranians are going to do. we need to be on our guard and working with our friends. one of the reasons i disagreed with the original deal with the iranians, it looked like what the obama administration was doing, shifting their emphasis in the middle east from our traditi traditional allies, egypt, united arab emirates, and the iranians were the big dog on the block primarily because it appeared to be what president
8:34 pm
obama wanted to have happen. when he negotiated the nuclear deal with the iranians, i felt very much a part of that pattern sort of shifting the u.s. emphasis in that part of the world. you can argue whether or not that's what he intended. maria: gina haspel, obviously, facing the senate intel committee today. your thoughts what's taking place and the potential that she could get confirmed as our next cia director? >> i think she'd be a great cia director. i don't know her personally. i hear good things about her, and i think she's done a great job in terms of the career she's built, and people i know at the agency are very enthusiastic about having one of their own, so to speak, in the driver's seat at the cia. aside from that, she's got a distinguished career in the clandestine service. she's done difficult jobs, and done them very well. i think the democrats are trying to find some way to vote
8:35 pm
against her, but it's hard. in the end, i think she'll be confirmed. maria: we've had 17 years to digest what took place after 9/11. >> right. maria: much has been made about the torture programs and the interrogation programs. you've been vocal about this, that at the time, this was the right thing to do, correct? >> yeah. i've been very vocal about it. i believed in it, heavily involved in getting it set up and, getting the opinion out of justice department how far we could go. i'm not one of the people who calls it torture, a lot of people do. it was set up in a way what we did was consistent with fundamental statutes and agreements that were in place, and it worked. maria: is it the right move to discontinue those programs today? >> if it were my call, i would not discontinue those programs. i'd have them active and ready to go, and i'd go back and study them and learn. the agency's in a difficult position, congress has acted,
8:36 pm
they have changed the law, and the agency has to and will operate by the statute. maria: north korea. what do you make of three hostages released today. now, an upcoming meeting between kim jong-un and the president. kim jong-un met with south korea, chinese president, president xi, should we believe him? >> well, if you told me this was going to happen, i would have been surprised, would not have expected it could happen. so i'm pleased that it has. i think it offers the possibility of significant progress. i think we have to be careful and i think the president is being very careful to go operate in a way that we don't yet -- sort of hung out to dry. if they don't meet our standard, i'd walk. i think so far, it's been handled well and see what happens. maria: scooter libby was pardoned.
8:37 pm
your reaction? >> scooter was my chief of staff and worked for me in the pentagon as well as at the white house. great guy. a fantastic attorney. just an all-around prince. and he was charged under phony circumstances by a special prosecutor who was brought in by james comey and charged with having leaked the identity of the cia employee and the fact of the matter was he didn't. that rich armitage was the leaker of valerie plame, and valerie plame was not covered by the statute that made it unlaul to reveal the a cia emplee. that was the situation, then the special prosecutor wasn't willing to stand up saying there is no crime there. they finally brought charges against scooter. ultimately went to scooter's attorneys and told them that if
8:38 pm
scooter would testify against me, they'd drop all charges against scooter. it was that bad a deal. maria: that is incredible. >> in the end, scooter was convicted, unlawfully so, total drummed-up charge. he's been pardoned. president bush commuted his sentence, and president trump now has pardoned him. he was a totally innocent man, and i want to thank the president for having done that. good move, and a lot of us who are familiar with the case, who know and love scooter libby, appreciate the fact he's been deemed innocent and that's what should have happened. it was all a phony deal from the beginning. maria: how is the president doing? >> well, pretty good. i don't agree with him on anything, i voted for him. i hope he's successful. tough, tough job. he's there at a time of great challenge. keep your fingers crossed. maria: my thanks to former vice
8:39 pm
president dick cheney. don't go anywhere. more from the 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.
8:41 pm
i'm your phone,istle text alert. stuck down here between your seat and your console, playing a little hide-n-seek. cold... warmer... warmer... ah boiling. jackpot. and if you've got cut-rate car insurance, you could be picking up these charges yourself. so get allstate, where agents help keep you protected from mayhem...
8:42 pm
...like me. mayhem is everywhere. are you in good hands? . maria: welcome back. big week for oil. oil prices stabilized slightly after posting multi-year highs this week. one analyst at bank of america this week predicted that oil production will collapse in venezuela and disruptions in iran could drive oil prices to $100 a barrel in haven't seen that in a few years. talk about thatmy with fox business all-stars for reaction. kristina partsinevelos is with us along with suzanne li along with the "wall street journal" editorial director james freeman, who is also a fox business contributor. thank you for spending the time this weekend. james, what was most important or struck you in terms of the headlines this week? >> the most encouraging sign, we see this rising economy is
8:43 pm
the institute for supply management report came out early in the week and what it's showing is big increases in capital expenditures. this is business investment and this is what was lacking over the last decade or so. companies did not have the confidence to invest, and what we're now seeing is manufacturing and nonmanufacturing, both talking about big investment in 2018. maria: i like it, and partly, you have to believe that the rollback in regulation and the anticipation of rollback in regulation had business managers starting to think about, okay, i am going to let loose and put this money to work? >> that's right. a very benign environment. this is the big change over the last year or so, less regulation, more than a thousand rules from washington that have been canceled, scrapped, put on the back burner. obviously big tax cuts. so yeah, that kind of natural american risk taking seems to be reasserting itself. maria: expecting 3% growth at some point and you wonder where oil prices where they are,
8:44 pm
kristina, indicator we're looking at a strong economy or $71 a barrel oil to be something to watch that will cut into growth? >> there's oxford economics put out a report saying if oil stays above $70 a barrel. that's going to eat away at half of your gains from the tax cut as a consumer. in terms for companies, what we're seeing that some have said they're raising prices, 3m, whirlpool because of the higher input costs because of the higher oil costs. that could bring markets down especially if rates climb in june. maria: which is why we're watching the fear of inflation and what happens in terms of reaction from investors. so far not an issue. >> a little role in markets right now, because we talk about the peak earnings season. i know there is the fear of inflation, that is reflected on symantec or caterpillar seeing forward guidance possibly could be lower because of inflation. maria: good point, the backdrop in terms of earnings season,
8:45 pm
susan, you've been covering this a lot. 26% earnings in growth in the s&p 500. for the first quarter. i have not seen that number in a couple of years. >> best earnings season in 20 years. maria: wow. >> this isn't trickling into the stock market because we're barely a few points into positive territory for the dow in 2018 because investors are taking a look at the back drop we're. in rising yields, higher burn rates and might be in the late cycle of this ten year expansion we've been in, and people thinking how much longer can the good times last since 2008. maria: at this point, you've got an earnings season going strong and the year is expected to be strong too? you have revenue, right james? what are we focused on in terms of the potential for risk here in this market, in your view? >> you're paying a lot for earnings right now. seems like there's a case given it's been growing so fast. as we look at risks, talked about the institute for supply
8:46 pm
management. all good news about capital investment but a big worry among the people they survey is trade. are these tariffs, quotas, the trump agenda, while he's pursuing "the art of the deal," what if the result is not open markets but tariffs and higher costs to trade. that's the big, i think, threat on the horizon in terms of most businesses. >> this san important point you make, especially look to the week ahead. this is a soft deadline for nafta. the president wants a new deal in place in terms of nafta by may 17th, this upcoming week. if we don't have a deal in nafta, i expect the markets would react? >> 50 billion and another 100 billion on top of that, the chinese vice premiere coming to negotiate maybe purchases to ease american concerns, and maybe placate the u.s. president, but there are a lot of, i would say, trade headwinds in the markets that investors are conscious of.
8:47 pm
>> to add to that, with nafta, they're going to move forward with an agreement of sorts to please the auto sector. that's a priority determining how much content is going to come from the united states and what the threshold for the minimum wage at $16 u.s. an hour. i think there is a lot of complications, they are going move forward with promises for the auto sector. maria: that's true, the issue of origination. >> yes. maria: where does a car or vehicle get produced mostly? is it north america? canada? mexico? the origination is front and center, and the salary. >> yes, $16. maria: what's your take on that? >> and that's not pro-growth to have government more involved in setting salaries, figuring out what gets built where? this is one of the great successes of nafta. you have the supply chains all over north america, parts are able to move relatively freely and the fear of disruption there, i think is very real. so i think the best-case scenario there is they get a
8:48 pm
modest deal that the president will call a win and he continues to, i think -- i'm hoping he's focusing more on opening up china versus fighting about trade with the rest of the world. maria: let's face it, everybody knows that china is not open. you want to do business in china and sell to the 1.3 billion person population, you may get a joint venture. may be able to own 49% of that, but that's it. >> you may own 50%, also because of pressure of the trump administration in the auto sector and the financial services, those are changes that were made recently. you are right. in the past to make money in china, to sell to the chinese people, you had to enter partnerships where not only do you not own majority but you have the transfer sensitive information like technology, sensitive technology transfers as well. maria: the most important industry is a.i. and robotics. big news of the week in terms of north korea and iran. obviously, the president pulling out of iran deal.
8:49 pm
as well, bringing home the hostages this week, at 2:00 a.m. that was a huge success. >> dramatic, very dramatic. it was a huge success, we know north korea has done this in the past. not the first time they've taken americans and held them hostage, let's not forget the undergraduate auto in captivity for pulling a poster down, brought back in a coma and died. that is a good move for north korea, but i don't think we should necessarily forget what's happened in the past and believe that things are rosy going forward. maria: we'll see. >> especially pulling out of the iran nuclear deal. i think north korea is chaining cards in terms of how they speak to president trump. >> i want to point out north korea played a big role in terms of bringing china to the negotiating table as well. having china on board to influence what kim jong-un and north korea might negotiate in terms of denuclearization, that's a big part of these ongoing trade discussions. >> yeah, you would think there is goodwill on the part of
8:50 pm
china and the u.s., after china helped in terms of getting north korea to the table. they did hold back on certain exports to put the pressure campaign on north korea. iran deal pulling out of the iran deal, what do you think? >> it's a regime we ought to be undermining instead of cooperating. they're one of the world's biggest trouble makers, kind of a nice way to put, it funding terror, et cetera. remember, talking about the various negotiations, the sanctions are not hitting now, so there's three months and six months here where it's possible, a deal will be put together that the president feels is more likely to prevent them from becoming a nuclear power. maria: which would be seen as another victory, that he got a deal changed. >> could be. even if he goes ahead and decides to treat them as the pariah nation, which he, should you looked at oil development continuing to rise in west texas.
8:51 pm
i'm not sure it's the cataclysmic economic event. maria: you are right, dick cheney said the same thing when i spoke with him. he said just because the iranian oil is off the market, it's not going to make a dent in things. you have the u.s. shale production and the global markets intact. great to see you all. thank you so much. thank you so much. james, kristina, susan. how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped!
8:52 pm
you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
8:53 pm
oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ 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. sure. momwhat's up, son?alk? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around.
8:54 pm
mr. elliot, what's your wiwifi?ssword? wifi's ordinary. basic. do i look basic? nope! which is why i have xfinity xfi. it's super fast and you can control every device in the house. hey! let's basement. [ grunting ] and thanks to these xfi pods, the signal reaches down here too. so sophie, i have an xfi password. simple. easy. awesome. xfinit the future of awesome. . maria: welcome back. now a look at some of the big market events coming up in the week ahead that could impact your money. we skip ahead to tuesday where we see retail sales released. the housing will be released along with empire state manufacturing and business inventories all out next week. home depot reporting quarterly earnings, that could be a
8:55 pm
market mover. we'll be watching that. and wednesday housing start, industrial production and the business leaders survey are out. cisco and macy's will release quarterly numbers. important to watch cisco, that is an indicator for broader business than technology. cisco could be a market mover as well. thursday jobless claims are out. the philadelphia federal reserve manufacturing index is out and blue chip stock, walmart will report earnings again. those results could move the market and nordstrom and j.c. penney report quarterly numbers. on friday astrazeneca is out and john deere out with quarterly earnings. sources close to talks with nafta, the united states is setting a may 18 or 19 deadline for nafta talks so congress can deal with a new deal by then. we could see excitement and news breaking on nafta. that will be important for the
8:56 pm
markets. grants interest rate editor jim grant talking about interest rates. in particular the 3% on the ten year. and see you sunday morning on sunday morning futures on the fox news channel. join me 10:00 a.m. eastern, homeland security chairman mike mccaul as well as danny dennon, we'll talk about the israeli reaction to the pullout from the iran nuclear deal by president trump. tune in every morning for "mornings with maria." i hope you will join us next week. thank you so much for being with me this week. join me next
8:57 pm
[thoughtful sigh] still nervous about buying a house? a little. thought i could de-stress with some zen gardening. at least we don't have to worry about homeowners insurance. just call geico. geico helps with homeowners insurance? good to know. been doing it for years. that's really good to know. i should clean this up. i'll get the dustpan. behind the golf clubs. get to know geico. and see how easy homeowners and renters insurance can be. capdynamic lightingrs elevated comfort powerfully efficient and one more thing the world comes with it ♪you can go your own way... the 2019 jeep cherokee
9:00 pm
>> a gangster hideout... >> ma barker had her tommy gun and shot out this window? >> right. [ gunfire ] >> ...an epic gunfight... >> it went on for about four hours. it's the longest in fbi history. >> digging up some bullets fired from that window. >> ...haunting history... >> you'd hear, often, footsteps up and down the stairs, just in the middle of the night. >> ...set for sail. >> this is a lot bigger than any of us realize. [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ] ♪ >> i'm jamie colby, headed into
41 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on