tv Maria Bartiromos Wall Street FOX Business November 11, 2023 10:00am-10:30am EST
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jack: al yeah very important advice for investors. >> tax optimizers and thinking of renewable story it is harvest season, take a look at your portfolio losers see if you can harvest them for taxes, you have to stay out of the trade for 30 days and make sure your financial advisor is helping you earn the fees. jack: i beat the drum all the time don't say i'll wait till i get back to even sell now, by some, similar equivalent etf and 30 days later by a back. thank you guys. to read more check out this week's edition at barron's.com. don't forget to follow us on ask at barron's online. we will see you next week on "barron's roundtable". ♪ >> from the fox studios in new york city this is "maria bartiromo wall street".
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maria: happy weekend to all, welcome to the program that analyzes the week that was in position you for the week ahead. on this veterans day weekend. i am maria bartiromo. thank you for joining us. house republicans escalating into the biden family influence peddling. james comer slapping four of hunter biden's business associates with subpoenas. that includes his art dealer as well. this is a gop panel that gears up to question hunter biden, james biden early next month prompting a furious response from democrats. watch. >> there is no basis for what they're doing. i think it's an embarrassment. >> a baseless smear campaign against the president. >> it's time to call off the whole wild goose chase. maria: joy to be from the house judiciary in oversight committee arizona congressman andy biggs. thank you very much for being here. what is your reaction to the democrats response to the subpoenas.
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>> when i hear representative raskin say while goose chase nobody knows better than jamie raskin that's for sure. what we have is literally thousands of pages of bank records suspicious activities reports, eyewitnesses, former business partners of hunter biden and people that told us that joe biden was a product that they were selling they were selling access, they were selling all kinds of corruption and corrupt practices and they do not want us to subpoena the people at the hub of this. we were talking hunter biden, james biden, sarah biden, rob walker, these are people that know where this money came from they know where it went, dozens of shell corporation, activity that is going on, nine biden family remembers receiving foreign money and they say let's not get into this anymore and i find myself just beside myself. i don't even listen to them
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anymore. were you to go forward and we're going to do this and were to give testimony. maria: do you have the support of the entire membership in terms of the gop in terms of moving forward with this impeachment inquiry. it is stunning the amount of money that we are talking about and the evidence that you say that is most damning. are the bank records, suspicious activity in the witness testimony? >> yes, they already testified that who their product was and we look at the records and we can see where the money is going and now it's time to get testimony of the people that were at the hub and spoke of the biden business dynasty if you will. when you ask about a republican colleagues, the vast majority are with us on this, certainly all the republicans on the oversight committee are because we've seen the evidence of most of the judiciary committee many have seen the evidence as well.
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we are building hearts and minds and our own conference as well. maria: congressman, we are disturbed by this because we know china is our number one adversary and were questioning whether a sitting commander-in-chief is compromised after taking so much money from china. i want to get your take on where this heads next. if this is true that would lead me to believe that joe biden will be impeached before the election of 2024, is that true? >> he certainly could be. i'm not sure that we have the votes in the house right now, maybe we do. but we have to demonstrate to a few of my friends on our conference the next summer saying they do want to do it because i think it politically looks bad, my position it isn't whether it looks bad you have to do what's honest and true and we have 70 here who may be compromised as you say with china and various other nations
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around the world. maria: president biden will be meeting with xi jinping in san francisco. we understand it's official on wednesday in the apex economic summit. some of your colleagues on the china select committee have sent a letter to biden urging him to stop what they are saying repeated concessions to china radio also have top ceos for microsoft, mastercard, pfizer, fedex, exxon mobil others are dining with xi jinping and have dinner dinner following the president. what do you want to say to the ceos and come out of the meeting between xi jinping and joe bid biden. >> first of all i don't think you're going to see much happened at this meeting there will be no deliverables in my opinion there is no commute occasion supposedly and they might lay the groundwork for future communication groundwork. what i would say to the executives imagine if we were in
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the cold war era in our number three trading partner was the ussr, that could not of happened in these executives go over there and they facilitate not just the human rights violations that you see within china but they're also facilitating the harassment of taiwan, just a few weeks ago 100 flights by the chinese military to harass taiwan. then you get into the expansion of spying within the united states of america itself. the various organizations, 600 organizations through which china is actually manipulating spying on the u.s. that's what the executives are facilitating in this administration is facilitating. it's dangerous practice as china expenses soft power against the u.s. and basically we saw what happened they control economic power over the u.s. as our
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trading partner, were there are number one trading partner and there are number three. maria: what an incredible two and half years it is been a complete fall for the united states because of poor leadership. it's amazing what poor leadership can do that's why i want to ask about the border as well marjorie taylor greene has issued over alejandro mayorkas over the border crisis is wide open. the house will devote on the matter next week will alejandro mayorkas be impeached? >> i wish i could say he would. he is one of the most dangerous americans that we have right now. maria, literally dozens and dozens, were back to the chinese there are chinese military aged men coming across that we are apprehending and there are others that we are not apprehending. i'm glad marjorie is doing this is a privileged resolution and i hope that he gets impeached, he should be impeached, he's an
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incredible danger to the united states of america and our national security and i just hope enough of my colleagues, all of my colleagues, they should see this and understand this. this is a danger. you have people like new york mayor adams and it's not getting secured. maria: and he's a democrat. you mentioned the chinese nationals. are you allowed to leave china for an extended period of time without getting approval in a communist nation? why are the number of chinese nationals crossing the border up 1100% year-over-year are they being directed by xi jinping to settle in america for some reason? >> i have no doubt that they are, you cannot leave china unless she somehow miraculously escape from china and then maybe you're making your way over here. the reality. you people that are coming in, we believe with malicious intent
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and their being facilitated by these organizations in the united states that china sets up with help from the chinese nationals who are here. this is an expansive problem that we have and is growing. of course we've been talking about china but don't forget you people from syria, iran, the islamic republic, these are all increasingly coming across our borders, that is a very dangerous national security problem fostered by mayorkas. maria: anni into big thank you y much. >> thanks maria. congressman andy biggs joining us. i fixed-rate for wall street in the stock market sparked by ja my relationship with my credit cards wasn't good. i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees... i felt trapped.
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reserve chairman jay powell basically killed what was poised to be the longest winning streak for the s&p 50019 years. he said on thursday he was not confident that the fed's policy would be restrictive enough to bring down inflation to 2%. we could see more rate hikes next year as a result. joy to me slatestone chief market strategist kenny polcari. i know you been writing about the idea that the fed is going to cut rates as a fantasy for a long time, it feels like jay powell confirm that what you read from his comments on thursday. >> he left that door open and made it very clear that inflation remains sticky and they remain data dependent, he's not really now another rate hike. i don't forget going to come in december but it could certainly come in the new year of january 2024. i would not rule out you saw immediately what happened the market back off in the 30 year
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treasury auction was worse than expected that only exacerbated the problem. but i'm in the camp i don't see how they will cut rates by the spring of 2024. maria: let me get your take on what drives the market at this point. interest rates have been an issue because they went all the way to 5% but they have been pulling back from the level now what is been impacting your view of the 11 rate hikes from the federal reserve in the tenure and the 30 year at 5%. >> i think that the rate hikes are going to start to put pressure on the economy you can see in certain parts of the economy. i think we've been talking about the rolling recession that has been happening over the last 6 u will see it more broadly and you have to see it if he's going to want to bring the inflation backed up to 2%. i think the rate issue when we saw tenure rates go to 5% think that the first time we will see
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it and i expect to go back to 5% and i think they're going a little bit higher than 5% that's going to cause stress for the market but you and i both know the market can operate at a 5% environment it did for all those years when you and i were much younger now we had an and a whoe generation of people to think rates was normal now they're panicking over 5% rates it does not mean we won't have headwinds it'll provide headwinds and i fully expect we will see rates move higher again once janet yellen continues to bring more treasury to the market we saw what happened last week with demand for the ten in the 30 was less than expected. we had another 600 billion coming in the next two months and 860 billion in the first quarter of 2024. my guess buys will pull back and bond prices are going to decline and that will force yield high
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higher. maria: how do you want to allocate capital going into your anger you expected a rally going into stocks. >> i am but i expect us to pull back a little bit more and the rally is going to take us back to the 4400 level i don't think were going back to 4600 although there are people that think that we are. i think we will turn lower and end up around 4400 maybe 4450 right in their but i think once again in you and i both know as a long-term investor you have to be in it and create a plan and stick to it even when it makes you feel a little bit uncomfortable unless the fundamentals also drastically changed that you should completely reconsider your portfolio. otherwise you gotta be into it. as we go into the into the year i think we'll see a broader rally that will take us right back to hear but i like the fed names in the energy names aerospace in the fed like raytheon and lockheed martin. i like energy and i like
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financials. maria: a great list, great to see you. thank you so much for being here. >> always a pleasure thank you for having me. maria: kenny polcari joining us. a quick break and helping our nation's heroes wounded warrior project gives them a second chance at life with the resources that they needed the recovery journey. ceo and army lieutenant general is her ♪ limu emu & doug ♪ [bell ringing] and doug says, “you can customize and save hundreds on car insurance with liberty mutual.” he hits his mark —center stage— and is crushed by a baby grand piano. are you replacing me? with this guy? customize and save with liberty bibberty. he doesn't even have a mustache! oh, look! a bibu. [limu emu squawks.] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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life, here's what they are dealing with over 75% of veterans say that they suffer from ptsd, anxiety and sleep problems according to a survey from wounded warriors, that shows the unemployment rate of the injured former military service members is now at nearly 7% that is double than the national average for all u.s. veterans. joining a wounded warrior project ceo and army lieutenant general michael linnington. thank you very much for being here. >> thank you for having me on. >> i want to thank you for your service to our great nation. i'm wearing my father's army tags this weekend so i can show my support to our incredible heroes across the country. you've also been given the honor of grand marshal to lead the new york city's veterans day parade. tell us about your mission. >> our mission at wounded warriors is to honor and power nations veterans that have served and protected her freedom
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in the way of life for 20 years, thank you for mentioning our 20th anniversary is a really special year for us in a special week obviously during veterans day we can be in the grand marshal is not about me i'm representing more than 16 and a half million veterans that walk the streets of america. they are performing magnificently in jobs and they teach our kids, they run our businesses and their incredible, they get back in ways that you cannot imagine but this weekend in particular we got more than 750 more than 240,000 wounded and injured family members in new york city walking on fifth avenue. maria: i really want to get your take on water courageous men and women face when they're on the battlefield so people can understand why they're coming home with ptsd and anxiety and sleep issues and unable to get jobs. tell us what has changed being on the battlefield. >> thank you for the question i would mention right now the
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numbers and statistics that you mentioned the beginning are just for the 200,000 a little less than 200,000 wounded injured that we serve that come to wounded warrior project and ask for help the overall majority of the 4 million veterans that have served since 9/11 are thriving but those that suffered physical or invisible wounds of war that's where wounded warrior project steps in and helps them in a variety of ways we get them help connecting with her fellow veterans and we provide them programs that help them heal the mind body and spirit and that we find them jobs use all the disturbing jobs number for the first time in a very long time veteran employment is lower than the national average. if something were focused on and grateful to the american people that help us hire veterans. maria: that's what i want to know about people don't understand what these folks go through and what they witness on the battlefield has anything changed in the last 20 years why are they coming home with anxiety and so many issues that
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they need so much help. >> the battlefield the last 20 years has been a symmetric battlefield there has been some obvious direct fighting. especially in the fight against al-qaeda. the last ten years in particular the battlefield has been a symmetric and that you don't see your enemy, to roadside bombs, snipers, it's different types of mortar and rocket attacks. an uncertainty that comes with not knowing your enemies about to attack you and the enemy does attack, you are there to pick up the pieces so to speak and recover, that is very traumatic. combat is trauma know if and or buts about it. traumatic experiences are naturally deaf under difficult to recover from. some do better than others but for those that come home with invisible wounds of war and posttraumatic stress being one of them but your magic brain injury being another several
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concussive blast, veterans are surviving those last but when you come home those blast have an effect on your brain and that's why were invested so much in brain health and brain health programs. maria: all in the name of freedom. they are doing this putting themselves in harm's way to defend our freedom and our liberty so that all of us can live the lives that we are living. what he want the public to know about wounded wires and your project so they understand the mission better. >> i will say one thing for all the veterans that we serve and those marching around the country today. every one of them would say i would do it again, they're proud of their service, they're proud of their sacrifice and their families are as well so people considering the military, young people in particular, do it, it changes your life for the better and it's a wonderful opportunity for the american people out there, reach out to veterans not just on veterans day but every day. we say wounded were in warriors
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everyday is veterans day help them in the reintegration into the communities. help provide employment opportunities in getting involved is more important than anything we can do. maria: well said. thank you so much for being he here, thank you for the work that you're doing and for your service. lieutenant general michael linnington it's been wonderful having you on the program. thank you, sir. i have one important thing you need to know get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management.
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estimated that it will go for ten to $15 million in las vegas next friday. we will be following it on "mornings with maria" 6 - 9:00 a.m. eastern right here on fox business. we hope you will join me on weekdays we'll see you on the fox news channel on sunday 10:0y morning on the newschannel for "sunday morning futures". exclusive interviews with ted cruz, house judiciary jim jordan, attorney for former president donald trump, alina habba and new york post columnist miranda devine. i will see you sunday live on fox news channel for "sunday morning futures". that will do it for us, right now on fox business, thank you for joining us have a great veterans day weekend. thank you to all of our courageous veterans. i will see you again nex ♪ >> "barron's roundtable" sponsored by global x etf'
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