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tv   Mornings With Maria Bartiromo  FOX Business  January 7, 2025 6:00am-7:00am EST

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♪. maria: good tuesday morning. thank you for joining us this morning. i am maria bartiromo. it is tuesday january 7. your top stories, 6:00 a.m. on the east coast. today it is official congress certifying the 2024 election setting the stage for president trump and his agenda. the president-elect rethinking his stance on how congress should execute his agenda setting is open to a two-step process as opposed to one beautiful bill, what comes first taxes over the debt ceiling or the border. trump makes another pitched ticket after truck under justin trudeau resigned as prime minister yesterday. joe biden walking out the door two weeks until inauguration day, writing is banning offshore drilling while getting sued by nippon and u.s. steel for blocking the merger. everything you need to know. all morning long. features are indicating another higher opening, the dow
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industrial 27 the nasdaq up 26, the s&p 500 higher by seven and a half. another rally yesterday as markets reacted to a report trump would scale back the tariff plan but yesterday president trump denied any changes to the tough tariff stance, were speaking to investors about trump's tax cuts and deregulation plan and tariff plans coming up, european markets are mixed take a look at the eurozone as a p100 right now is lower by 17, the cac is higher by 40 points in the dax index higher by 60. in asia overnight markets finish mostly higher look at the asian embassies overnight big news on china the weak spot was hong kong john one and a quarter% overnight back at home in big tech ufc chief dana white is joining the board of meta the second conservative appointment by mark zuckerberg in a week. we will get into it. the conversation morning long strategic wealth partner mark tepper and new york city council minority leader joe borelli
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"mornings with maria" is live right now. ♪ it's time for the hot topic of hour president-elect trump to meet with senate republicans in washington ahead of the return to the oval office in less than two weeks they will work on the parties reconciliation and past trump's agenda trump told hugh hewitt he's keeping his options open. i favor one villain running everything passed and there's some people that don't agree, my preference is one big beautiful bill. to do that takes longer. with that being said we get border work done a little bit earlier et cetera. but the border work we have a lot of money that we're going to be clawing back from the green
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new scam. i would prefer one but i would do whatever he needs to be done to get past and we have a lot of respect for senator thune. he may have a little bit of a different view. i heard other senators yesterday including lindsey talking about it, they prefer the other way. i'm open to either way as long as we get something passed quickly as possible. >> house speaker mike johnson said he has a plan on how to support trump's agenda he broke the news with me on "sunday morning futures". >> president trump is going to prefer one big beautiful bill, there is a lot of merit to that, we can put all together one big up or down vote. >> are you expecting to raise or eliminate the debt ceiling as part of the big bill? >> i think were going to have to do in the bill. >> would you have the on the president's desk by may? >> certainly by midday. we are targeting the house maybe
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in the first week of april. the first 100 days. >> you're talking about the first 100 days in the worst case will be memorial day. >> that is right. >> as you know some lawmakers are worried about the one bill approach, south carolina senator lindsey graham told me much on sunday. watch this. >> i'm very worried if we don't put border first and get it done it is going to be a nightmare for the national security to the tax cut wing of the party i am with you but if you hold border security hostage to get tax cuts you're playing russian brew that with our national security. as we negotiate tax cuts they are taxcutting people and i am one of them that won't vote until i get other taxes. i'm not a big fan of the salt deduction. i live in south carolina where we have low taxes. why should people in south
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carolina subsidize california and new york. it comes down to the salt lawmakers, weigh in on this. if you don't have people like mike lawler new york congressman, others in california you are insisting on getting the salt deduction cat lifted they may balk at the other proposals, the debt ceiling et cetera yet to get everybody together and united. >> is very optimistic to see the trump 2.0 there's no doubt that he wants one bill and cleanly done as quick as possible but i'm sure he remembers with paul ryan and speaker mcconnell and he is a much better understanding of how the sausage is made in the legislature and is using that to his advantage of the second term. he's open to the two bill option because it would make it easier to achieve the priority and i'm proud to see a little bit of a
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foot off the gas although i imagine he wouldn't like the phrasing but is taking his foot off the gas and letting the legislation play out the best way the two leaders can do it in. we gotta talk about the pentagon story which we gotta get into in a moment this is our story we totally focused on this the enemy on the fox nation special let me start on canada. president trump is setting his sights on our neighbor to the north justin trudeau signed entered resigned truck posted this, many people in canada love being the 51st state in the united states cannot suffer the massive trade deficit in subsidies that canada needs to stay afloat. justin trudeau knew this and resign predicated of march with the u.s. there would be no tariffs taxes would go way down and they will be totally secure from the threat of the russian and chinese ships what a great nation it would be, trump also
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denying a washington reporter yesterday that he will scale back the tariff plans he revealed to hugh hewitt he's putting pressure on china through discussions. >> i think we would get along pretty well. it's gotta be a two-way street china is ripping off the united states for a trillion dollars a year would you say that's a lot of money 1 trillion with a t we are no longer in the billions were in the trillions. when they build the ships that money comes from the united states believe it or not. >> adobe interesting. >> we've been talking to there. >> the pentagon has now an additional number of chinese companies as militaristic in nature, including tencent, communication aircraft corporative china as well as cattle and as you see the list of tencent holdings among the
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heavily traded in china added dozens of american companies to the export control list to safeguard national security and interests. you know what china is doing is completely in response. of course they are military in nature that is the law and china. the first priority is always military. we all know what military, civil fusion means. what china is doing is completely retaliatory it's a negotiating posture. whether or not he decides to pare back the universal tariffs i have no idea whether he's going to do it. if you're using that as a posture you cannot show your hand and say it just to be on
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treatment areas. certainly a concern but when you look at what's going on with china let's not forget what they're doing with the rare-earth minerals. they don't want to export those anymore and we need those for electric batteries. certainly a lot of retaliation coming out of china it remains to be seen what happens with these tariffs from an investment standpoint consumers and investors are little bit concerned about possible inflation coming out of the terrorist. however, i don't think that's justified. we've been viewing this as a negotiating posture. maria: as we've been reporting for years, some of these companies are actually already sanctioned and are still trading on u.s. exchanges. we've been identifying these in our fox nation special underwriting the enemy. and this is a serious issue between the two nations whether
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or not the company that are trading here and getting investor dollars are reporting back to the ccp and are military arms of the ccp. obviously it's a issue with them reporting back to the ccp but we've been talking about this for a long time. how about the publicly traded companies on our exchanges that don't follow our accounting rules we need to have transparency in regards to the financial data that we are receiving and you don't get out of the chinese copies. maria: about to come. we'll be right back. ♪
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plus live tv interview both and create a new venture with six and a million quarters subscribers 70% on by disney and 30% by kubo the deal expected to close in 12 - 18 months both services will be available separately kubo tv skyrocketed to a 50% yesterday but is down nearly 51% in the last year, disney is up 22% and the timeframe, features this morning are indicating a mixed opening the fractional gains for they're down gesture, the nasdaq negative by one point the s&p 500 is higher by four to half. , chris zaccarelli. great to see you. in the baseball side of conversation, house speaker mike johnson on the one reconciliation bill that the trump desk by the end of the day and then trump saying i would like one bill but how important
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are the tax cuts as a priority investors. whether they put it into one bill or two bills what matters most is what's going to happen on the economic front clearly the border is important that the very big political issue in a very big issue to many americans recommend investor point of view we want to see the tax cuts and deregulation in those types of program policies are where were going to push the market higher within the last two years the market has gone up quite a bit is a must in 25 years as far as a two-year period for that progress to continue we will keep moving higher and we will detail wins especially when you consider that tariffs and some of the other types of policies that will be pursued is part of the administration that will be a headwind we will need the tax cuts are very important. maria: we saw pivot after the federal reserve turned hawkish at the end of the year they made
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it clear there in no rush to continue the cutting spree in 2025 and yields went up take a look at the ten year treasury yield or .64% the federal reserve expected to take the pause at the first policy meeting of the year, fed chief jay powell signaling three cuts that governor lisa cook issued more caution yesterday, the labor market has been somewhat more resilient while inflation has been stickier we can afford to proceed more cautiously with further cuts vice chair michael bar the agency's top banking regulator has announced he will step down at the end of february. members of the trump administration and a lot more deregulation. what are your thoughts on the bed move and how that fits into allocation strategy.
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>> the fat has gotten more hawkish even though they cut in december they signal they will do fewer rate cuts over this coming year when we spoke we were talking about how the fact the consensus was 5 - 6 cuts coming into december and the end of 2025 and that needed to be ratchet back. we need to ratchet back, i would expect one to two cuts in as a mentioned if inflation was being sticky the lack enter likely to keep it on hold for a much longer period of time it's a reflection of two things it's a fact that inflation has not come down as much as possible so the fed will keep rates higher for longer. but it's also a reflection in its get a run hotter than previously expected, that's a good thing you want to keep in mind two things that will ballots would be better for the market in the fed all things being equal a stronger economy through tax cuts deregulation
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expecting fewer rate cuts which is part of the base case makes sense and that's okay for the market it could go higher with fewer rate cuts a part of the reason there are fewer rate cuts needs economy is doing so well. jumping you did see not only a shift in sentiment from the federal reserve at the end of the year last year but you also saw a shift in markets has sentiment changed. at the last meeting is what they call a hawkish cut they cut rates but the tone was incredibly hawkish. what were seen in the market pricing and one and a half cuts but i read something there is a 40% expectation that at some point this year the fed will have to resume hiking rates again. that's a possibility have heard many people talk about. that could up in the financial markets into chris's point and you look at the ten year yield
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and you look at the impact of higher rates and when rates are higher that would benefit companies that have stronger balance sheets and stronger cash flow and less debt but we have not seen them play out so far this year. small caps were 40% of the companies don't make any money at all are outperforming the s&p 500. the year is young but you have anything to say about that? >> it's an interesting point in large caps dominate not only last year but the last two years it's all about large caps would make caps and small caps be left behind to the extent that there much more rate sensitive, that is completely true but they're also more tax sensitive as well. we can get lower tax cuts lower tax rates and lower taxes and potentially more protection to the form of tariffs and small caps will get some benefits despite that rates are higher
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were only a few years into the new trading year but i do think there's an opportunity for the market to broaden out the fact that it's been large caps for the past two years gives an opportunity for makeup and small-cap to do better this year and we would have as part of her allocation, we think that is worth pursuing because large caps have gone so expensive. maria: we will leave it there. thank you, we appreciate it. chris zaccarelli. we'll be right back. (luke) homes-dot-com is a new, elevated home-shopping experience. it's the only site that always connects you to the listing agent. feels like a work of art! (marci) what about the app? (luke) uh-oh! (marci) wow! went all in on gold.
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maria: the votes for president of the united states are as follows, donald j trump of the state of florida has received 312 votes. kamala harris of the state of california has received 226 votes. maria: that is vice president, here is presiding over the certification of donald trump's presidential victory yesterday. texas congressman keith self of the also retired army special forces it's great to see you this morning thank you for being here a lot to get to. how was that sitting in the chamber yesterday. >> fabulous. to certify donald j trump returned to the white house that
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was a big day i was honored to be in the chamber for that day. maria: i'm sure it was surreal scene kamala harris deliver the news and she was his opponent and it was an ugly campaign. i want to get to trump's agenda. before we get into it we were originally a no vote for house speaker mike johnson then you spoke with president-elect trump and you ended up voting for mike johnson on the first ballot you said you did lively discussion with trump what changed your mind, what happen. >> we had two conversations as you just said i told mike johnson and president trump what i was going to do before the vote and he was about to hit a five iron, we had a conversation how to advance the trump agenda and he knew what i was going to do. the second conversation was what i heard and a lot of people say get in line he was told mike and ralph norman and myself get the negotiations done because he's in a hurry and i get it he's ready to go.
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what changed my mind i got assurance from mike johnson that we will have a very strong negotiating team with the senate when we go up against them for reconciliation. maria: how do you want this to play out how you want reconciliation to look like. reconciliation was developed to control spending, everybody is focused on the fact that we don't have to get 60 votes in the senate but it was developed to control spending whatever we do we have to control spending in this. i'm looking forward to what doge can do and i'm looking forward to what is in their and truly ready to get a handle on spending. the nine trading in dollars in debt that was pumped into the economy over the last five or six years are hurting us today in your previous segment. you mentioned the higher interest rates it is being demanded by investors that is partly because of government
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spending. >> the numbers are astronomical president trump will meet with senate republicans tomorrow to discuss how to execute his agenda. he said yesterday to hugh hewitt is open to two reconciliation bills but he prefers one big beautiful bill that would include money for border security extending tax cuts, energy policy and raising the debt ceiling. how do you get all of that and there house natural resources bruce westerman revealed a permitting overhaul is unlikely to be included saying the bill would borrow from congress h.r.1 instead democrats are slamming this agenda a dnc spokesperson said the big bill will future the worst and unpopular parts of project 2025, trump is suggesting the democrats may support his agenda. watch this. >> only party said the we will raise your taxes.
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i imagine they would not approve, this to be the largest tax increase in the history of the world, let alone in this country. i cannot imagine the democrats would do that to this country and do that to the people just because they happen to dislike republicans or me. >> what your priorities do you favor one bill or two bills, how do you want this to be executed. >> what i favor is not in the mix, i will tell you border security for the entire nation is the number one priority but the close second is to control spending those are the exponential threats that our nation faces today. however, we design in the more complex that you make this bill the harder it is going to be to bring everyone together i don't see the democrats wanting to support the trump agenda at all. if we do not extend tax cuts, that will be the largest tax increase as the president just said we have got to close the
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border, that is the first priority but a close second how do we control spending. maria: what is the answer. >> we have got to get we need small winds early for president trump we don't have a very good record when it comes to two reconciliation bills and one congress but we have the next congress two years from now through president trump's four-year term. let's get small winds if one skinny reconciliation bill on the border that is fine if we put control spending and the first bill it's fine to but we have to extend the tax cut within the next two years in the tax increase will be huge. >> are you prepared to support voting for raising or eliminating the debt ceiling. >> the debt ceiling is a tough lift. i believe we must have the debt ceiling it is the only thing
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that communicates to the american people how much debt we have accumulated. we are accumulating 2.17 as of the last 365 days we are accumulating two-point once trillion dollars a year that's another 22 over the next ten years added to the 36 we've got to do something to slow that down. maria: you just answer the question. that is president trump want all this stuff in the bill early on he wants the border money and tax extensions in the debt ceiling in there. you decide you're not going to support raising or eliminating the debt ceiling you need the barrier so people can understand the level of debt. so you will not support a big beautiful bill with that in it. >> people need to understand if we extend the debt limit for one year right now that would be $2.5 trillion additionally in
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debt. if we go to for years you're talking a minimum $5 trillion unless we can do something to cartel government spending government spending is the issue here. maria: is seems that the two sides cannot come to conclusion on how to do it. you have an op-ed in the washington examiner how congress can fix the crooks in the financial foundation you say is about the department of government efficiency but that's not going to be enough. what also you looking as you tools to control spending. are we going to cut whole departments or missions are we going to move agencies out of d.c. so they have a cheaper spend it. are we going to truly find fraud, waste and abuse we need to design across the government what were going to cut and when i say cut i say cut very
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carefully. maria: we will be watching your work for you this is a lot of work that you are negotiating around. thank you, we will be watching. keith self and d.c. a quick break, president biden making things difficult for the incoming trump administration as biden is banning offshore drilling and a large slaw of federal waters knowing that trump wants to reverse that. louisiana attorney general is here on a new lawsuit threat over the band. you want to mourn is a maria live on fox business. ♪
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so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. maria: president biden announcing a last-minute band on
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offshore gas and oil drilling across 625 million acres of u.s. coastal territory, this happening two weeks before president-elect trump takes office. biden invoking the 1953 outer continental shelf lands act which means trampling congressional authority to reverse this move. trump blasted the move yesterday. watch. >> it is ridiculous. i will unveil it, what's he doing by uc doing it he does it was 625 million acres would look like and we can't let that happen to our country. it's really our greatest economic asset and vernacular let that happen to a country. maria: louisiana attorney general liz murrell, thank you very much for being here this morning you been threatening a federal lawsuit over the drilling ban you wrote this on x after four years of incompetence or bureaucratic rank by d.c.
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over the american people the parting gift to track the independence a direct threat to the national security emitting with women, where are you on this lawsuit. >> we are drafting the lawsuit as we speak and we expect to file as soon as possible. it is another strike at america's energy independence and it's really irresponsible and it's very vindictive. maria: what do you think will happen you will file a lawsuit against biden administration? i'm confident that president trump is going to work to reverse this and we can't wait for that to happen, we have to sue and block this action now.
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maria: it looks like trump said i will on bandit but his neck would be that easy. >> it's not that easy we've been through this before with the obama administration and we've been through with acreage in alaska. we know there will be environmental groups that will intervene in the lawsuits and block the reversal of this policy. we have to prepare for the fight. president biden visit new orleans yesterday to honor the victims of the new year's day terrorist attack morning 14 people killed on bourbon street. louisiana governor jeff landry is pushing biden to enter a disaster declaration consulting firm and enter for international file the report in 201900 security new orleans and they recommended to be fixed
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immediately your ordering that louisiana be of investigation open a full review of security plans of new year's eve of the sugar bowl what will this look at what is your instinct. pretty think it's going to dissect everything that led up to the event all of the planning and organizational subdivisions and agencies and operations in new orleans that were involved or not involved that maybe should've been involved. and deborah get his see where that takes us. this is not the only event that we've seen happen in new orleans. we have to look at the problems there holistically and see what dysfunction is occurring and fix it in the governor is committed to doing that and i'm committed to doing that. maria: water report. politics and bickering affecting national security and now this. >> at my day job i chair the form of republican mayors and council members. one thing i can say is universal across the board that cities
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take a great deal of pride in ensuring security is top of their list as far as what they're doing, reading this report it is clear that there is real fundamental problems with new orleans government. are you concerned that it goes beyond politics bickering. are you concerned that this corruption over the years that caused the local decision-makers to enact the changes that they made. >> it is hard to say that's why were going to do a top to bottom review. possible we would cover the issues in certain areas and it's possible that the lack of coordination and a sense of complacency that had set in. i'm going to look at every aspect of this and were not going to be shy about identifying all the problems. there's already been lawsuits that it been filed, that process would occur anyway. i think it needs to happen from government officials that are in a position to do something about
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it. maria: politics has laced everything in this administration. ag what are you going to find out with a lawsuit against the drilling ban was not politics as well? >> absolutely that is politics and while they packing their bags and getting ready to move out of the oval office they want to kick the trump administration on the way out the door we will do everything that we can to reverse the policy we support president trump and we know he is been a great defender of energy independence in america in louisiana certainly has been a fighter against bad biden administration policies over the last four years. >> talk to us about why this is the wrong move for the biden administration is it to make things tougher for president trump coming in or is it a real
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ideology against drilling in america then joe biden holds. >> it's both of those things no doubt there has been extreme hostility to the oil and gas industry from the beginning of this administration all you have to do is look at the executive order that was issued and the hostility has been pervasive the president promised he would attack the oil and gas and use entirety of the federal government to do it. think is a lot of hostility to oil and gas but i think it's hostility toward the trump administration and to make it as hard as possible as they stand for the administration to come in and reverse these policies. maria: what political gains. we will be watching this develop. we appreciate your time. thank you for having me. a quick break, your morning forecast, everything you need to
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know about the frigid temperatures before you head out the door. it is called. another major american company bids goodbye to the di prac practices. we will tell you about it when we come back. you want to "mornings with maria" on fox business. stay with us. i didn't do this for the fame. i did it to pay it forward to the next generation of athletes. ♪ i joined sofi because they've helped millions of members bank, borrow, and invest for their ambitions. sofi. get your money right. at harbor freight, we do business differently from the other guys. we design and test our own tools and sell them directly to you. no middleman. no folks in suits telling us to raise prices for the heck of it. just quality tools you can trust, at prices you'll love, every aisle every day. that's how we like to do business any way.
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maria: welcome back the international longshoreman import owner is holding a secret meeting as a new strike is now looming, gerri willis with the details. good morning, sources conforming to fox that representatives from the international longshoremen's association in the united states marine time had a secret meeting over the weekend to discuss port automation ahead of that januare formal negotiation talks are set to resume this morning, jim newsom will hold the program during the program later on this morning to discuss the story, new york judge juan merchan denying the request from trump's legal team to delay friday's hash money case 17 while prison time is not expected, trump maintains this case is nothing more than politically motivated offer.
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he poses untrue social virtually every legal scholar and pundit says there's no 0 case against me and the judge fabricated the facts of nevada different than the other new york judicial and prosecutorial witch-hunt. trump expected to appear at the hearing virtually. and louisiana reported the first u.s. human death from bird flu the victim reportedly a patient over 65 years old who had underlying health conditions and contracted the virus from a flock of birds in the backyard medical officials say the virus mutated within the patient raising concerns about the potential to human to human spread, the risk of the general public remains low officials calling for increased surveillance and safety measures for those who work closely with animals. nvidia ceo jensen huang is betting big on robotics and artificial intelligence.
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showing humanoid robots at the las vegas consumer electronic show announcing a deal to supply driver assistance chips to toyota he calls it the chat gpt moment for robotics. he also introduced a $3000 a.i. supercomputer for researchers and gaming chips which boost performance using a.i. nvidia evaluation hit a record $3.66 trillion this week and the stock is higher by 2%. mcdonald's becoming the latest company to scale back its diversity equity and inclusion mandate, the company sending a letter to the franchisees saying it'll end external surveys for suppliers and rename its diversity team mcdonald says the changes reflect the legal landscape after the supreme court ruling against affirmative action last year. mcdonald's is the first company in 2025 to rollback these policies jointly the likes of walmart, google, ford, toyota
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who took similar actions last year. mcdonald's is marginally higher as i send it back to you this is bigger impact than just mcdonald's the action the company is taking today because they buy billions of dollars, the suppliers all over the world one of the biggest buyers of beef and potatoes and all of the suppliers will not be held to di standards. it's a great point and also wide reaching it's an influential company in the more corporate this the other large corporate doing this they will think it's okay to do it as well. >> we see the di policies being discarded all over the place, company after company they're moving away we gotta get back to hiring based on merit not based on di principles. if we want to grow our companies and ensure the quality control is there we have to have the
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best talent possible. if you look at the new england patriots with tom brady they won five super bowls with tom brady and without tom brady the fourth worst team in football right now. he is the goat the greatest of all time he one that based on merit not based on di principles. same thing goes for every single employee in every single company nationwide you have to have the best talent. for sure butts move on to the weather. thank you for that. at least seven people are dead this morning after a powerful deadly winter storm slammed 27 states from the midwest to the midatlantic crews working to clear loads and restore power by heavy snow and ice is affecting travelers "fox weather" meteorologist marissa torres with an update. >> out of the d.c. metro, ray did reagan national airport picking up 7 inches of snow for d.c. metro that is the highest
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one-day snow total of 15 years no wonder a snowball fight in front of the national mall but in terms of travel we have delays. in the d.c. metro reagan national open initiative yesterday evening so crews could clear the run race and make sure they did not refreeze dallas in bwi they shutdown that they had a ton of delays and cancellations in your waking up to that as things get back on track up the identify quarter and shrinks but so does the snowfall, philadelphia to inches of snow, central park new york in new york new jersey right around 1 inch, a little bit less than that. it was not as debilitating for these areas to get through the snowstorm. the biggest thing is waking up to i see areas and gusty winds that are making the temperatures in the 20s barely making it to freezing today feel like the single digits and teens that the biggest thing coming out of the northeast. boston completely missed, things are looking nice and quiet.
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let's get back to the flashback trivia question, tornadoes most often occur during the spring and fall it can also happen in the winter months. on this date in 2241 of the first tornadoes in the u.s. for the year touchdown and what city, here are your choices, oklahoma city, fort smith arkansas or fort lauderdale florida we will have the answer in the next hour. maria: that is a good one, marissa torres, a quick break the expanding tech space ufc chief dana white is joining the board of matter the second conservative appointment by mark zuckerberg in just a week. the hot topic of the hour. you're watching "mornings with maria". we'll be right back. ♪
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maria: welcome back, good tuesday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is tuesday, january 7th. just before 7:00 a.m. on the east coast. time for the hot topic of the hour. the ceo of meta, mark zuckerberg, appointing ufc head and trump ally dana white to the board of directors of meta. zuckerberg posting to facebook praising white for building the ufc into one of the most valuable, fastest growing he and most popular sports enterprises in the world, adding i've admired him as an entrepreneur and hi

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