♪ ♪. maria: good tuesday morning, thank you for joining us this morning, i am maria bartiromo, two-stage injury 14th your top stories right now read 6:00 a.m. on the east coast. today the trump cabinet confirmation hearings began as defense secretary nominee pete hegseth will sit before the senate armed services committee

beginning at 9:30 a.m. eastern, other hearing say different today have been moved postpone as my morning leaders chuck schumer claims there were paperwork issues reportedly helping fellow democrats will sidetrack the confirmation i california wild fire aid to the reconciliation bill as we have been reporting. mike johnson saying he is considering conditions such as policy change requirements will bring you the latest. futures is a rally, take a look were expected to gain of about 146 on the dow industrial. the nasdaq higher by 140 up two thirds of 1%, the s&p bouncing up 30 points. interest-rate this morning after spiking recently look like this, the ten year treasury continues higher at 4.78% on the ten year yield this morning at 4107 basis

point this ahead of big banks kicking off the fourth quarter earnings season, j.p. morgan, wells fargo, goldman sachs and citigroup all reported fourth quarter numbers. we have the preview today. inflation data with the december producer price index at this morning at 8:30 a.m. eastern ad of the consumer and underpricing decks out tomorrow european markets in the green euros on higher across the board s&p 112 record, cac of 83, the daxs index higher by 163 markets finish mostly higher, the shanghai composite in china up 2.5% on the session. back at home president trump is limited late-night report from special counsel jack smith who is insisting that trump would've been convicted in the 2020 election case if not for his big victory in november. "fox & friends" first cohost todd piro is here, was advisor president chris mcmahon is here in fox business cheryl casone is

here. "mornings with maria" is live right now. for the senate confirmation hearings, six days until inauguration day. at 9:30 a.m. eastern, defense secretary pete hegseth will appear before the senate armed services committee, facing an uphill battle particularly with iowa senator joni ernst. we will be watching her question, senate minority leader chuck schumer reportedly plotting to turn the hearings into a circus, axios writes this, pete hegseth is the first shot to carry out the demands handed down by schumer, skewer trump's nominees in the maga brand, here is what schumer said himself. watch this. over the next four days the dozen of the president-elect nominees will testify in committee and make their case to the country and the opening for

holding the trump administration accountable to the public. republican lawmakers are hopeful the process will be swift as nominees need a simple majority to be confirmed other hearing scheduled for this week, governor christie number homeland security secretary. pam bondi for attorney general, marco rubio for secretary of state and john ratcliffe for cia director. two hearing scheduled for today, we are postponed over alleged paperwork issues. in doug burgum. will see the two hearings get back on the calendar i don't think that's of the people voted for chuck schumer to turning too a circus. and involved in prepping for the confirmation hearings, this is good to be the person that we see democrats, out of the

evidence sensitive about elections where they were so horribly beaten at the polls to come out and attack. it looks like pete had shut her former colleague is our number one target. and this may be the contentious hearing of the confirmation hearings that we see here on your screen. it looks like chuck schumer is at this point going to go after and this is going to be pretty tough. somebody that is known pete for years, he's a tough guy, he can handle himself. todd piro, president trump has chosen people who speak to what is been talking about. drain the swamp, that is the point he wants outsiders running these agencies. >> of course the democrats are going to point at every single thing that they can to try to throw a wrench in the works

because they want this business as usual democrats drive when d.c. runs as business as usual. people on november 5 said that they are tired of it they gave trump mandate giving him a house in the senate to change that. it's incumbent upon republicans and the moment that they take control d.c. next week the time for excuses is over. get all these people through, don't fight your own party no more special interest, do what you need to do for the american people. maria: for president trump agenda which is so important not just to business but individuals everywhere. he needs his people in place, how important are the confirmation hearings as an investor. >> the market wants to see people get confirmed quickly, bad imagery for schumer, he's going to make it a circus in a

workingman war veteran and trying to skewer him i think it will hurt them and i don't think the market will respond positively to get these guys and in the new administration running in the back on track for a country in the financial markets are looking for that immediately. he. even the rates are creeping higher over the masses spiking rates, bringing to get into that when we come back. let's look at a break a big week of earnings and economic data on tap, the december producer price index is out this morning at 8:30 a.m. eastern we will get you those numbers as a cross, i'll get your preview before that. first the preview with wealth advisor founder president mark avallone after the break. stay with us, you want to mourn is of maria live on fox business. we'll be right back. ♪

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>> futures indicated a rally take a look the dow industrial 151, the nasdaq of 136 and s&p higher by 28. it is been a tough beginning of the year, stocks have been wiping out the election day rally on a volatile start to the year, quantum computing stocks, meta ceo mark zuckerberg and nvidia ceo jensen huang warning that the use of quantum computing are at least 15 - 20 to 30 years away. nvidia falling yesterday after the budget administration adopted new export rules for a.i. chips and it is trading fractionally higher. were taking a look at nvidia this morning up 1%. atomic wealth advisor president mark avallone. great to see you, we would like to get your outlook for the new

year were stocks and rates are going this year. >> will receive her 2025 is what we've seen thus far. we've seen a lot of relatively a lot of jobs. we had two tremendous years. i think it's important that investors get their expectation managed and it's very unlikely that we will have three years of 20% or more on the s&p 500. we also still think there is opportunities even talk about technology in the leaders in technology around the world are right here in the u.s. and the technology companies have a dominating the u.s. stock ma market. we expect them to continue to be leaders despite their high evaluations, these are companies with massive amount of cash on their balance sheet, strong dominance in the markets that they serve, they are well managed. as we see that your of the president who has an eye on the stock market. i don't think we can have an adversarial relationship with big tech or at least of an adversarial relationship as we have had in the past few years.

>> certainly at the end of last year, as rates, we get a spike in interest rates, take a look at the tenure this morning even though it's a small move, we are still hanging around 4.7% on the ten year, is this going to have implications in terms of earnings and guidance, were close to 4.8% on the tenure. >> is absolutely going to matter we've talked about the underlying causes for inflation and one of them are strong wa wages. wages in the 4% range well above the fed 2% target that's going to make it very difficult for prices to come down working to see the ppi and cpi numbers close to three and a half or 4% and they are persisted. when workers see prices in the store and they see the great union wage gains in the past year ups and uaw in hollywood strike were talking 10% a year for these workers and workers

know what other people in the marketplace are getting they have their own inflation expectation, those are not going away so as long as we are persistent wages were to have persistent inflation. maria: we will see what the bank say about that this week and whether or not they see an impact from the yield spike, the major bank taken a four quarter earnings season, j.p. morgan chase, wells fargo, citigroup, goldman sachs all reporting tomorrow morning, bank of america morgan stanley on thursday you predicted rebound in m&a deals this year with help from the caps and financials and strong capital market activity. no doubt this administration is going to look at m&a a lot differently than the prior administration. i agree with that. would you get in front of the and by banks. how you feel about their needs we will hear this week, tomorrow. >> on the m&a front we just went there. that was pretty ridiculous. amazon was stopped from buying

rumba for antitrust reasons. >> that is ridiculous. >> that was the height of ridiculous. >> were going to unwind the mentality that has to be unwound that will lead to businesses with competent to make deals in the neck would have millions and millions of dollars in litigation costs for not reasons that have merit who's going to stand to benefit from that the capital markets activity in the diversified banks we load the large cappings that will be reporting in the going to hit on all cylinders in our opinion you will see great asset management and the strong capital markets activity returning and strong net interest margin they can gather assets at low cost and they have high-quality lending and balance sheets and good management in the major banks and you will see all come together this week and strong earnings reports. >> that's a good example, amazon tries to buy.

cheryl casone jump in. it's going to be a different playing field. >> it really is i agree with you when it comes to m&a and all the ipos i'm hearing a lot of chatter as far as the ipos come into formation in the first quarter of this year which is exciting i want to stay with the banks. i was looking at the estimates. maria had a guest talk about goldman sachs, goldman sachs earnings-per-share is expected to jump 49% year-over-year. i'm assuming that will be one of the stocks you will watch tomorrow but i'm curious your thoughts on walls forgot big of america we had guests come on let the loan under mortgage loan portfolio have a lot of california exposure in the going to have to come out give us some commentary may be on the conference call, what do you think. pete is also significant i don't get enough to bring down they

have been under set strict regulatory scrutiny and dirt under tremendous diversification in a think there will obviously be insurance to supplement those people devastated by mortgage from the fire. i'm not looking at that as an event that the pop elected from a financial standpoint. it is a personal standpoint these are broad diversified or cautious on community banks and regional banks. i would be cautious about banks that are centered in california and overweight in a small community basis. maria: the other day a week ago ubs downgraded goldman sachs due to neutral having dependence on the global bond market. will be looking at that limited evaluation, cbs's right-wing golden reports inflation the main talk, december ppi report this morning in a staccato

mr. expecting another move up, 3107% year-over-year 3.4% in the bigger market mover is tomorrow with the consumer price index comes out that went up to 9.1% but is coming down pretty heavily in the last year retail sales out on thursday, the housing starts, building permit on friday. any expectation. >> i think there will be continue cost pressure, the massive amount of government spending the past four years you can't pass 31 trillion spending bills throughout ripple effects and you can't turn that off with a switch because of the fed saying it wants to stop raising rates were wants to start lowering like it did in november, that was premature and we need to work the excess cash out of the system, that is what is driving inflation. >> great to see you thanks so much. mark avallone joining us river valley, up 144 on the dow

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>> obviously there's a lot of resources. it does conduct a leadership it appears state and local leaders are derelict in many respects but something has to be factored in. maria: johnson revealing there is discussion about tying the debt limit increase to the disaster aid the short-term funding bill last month provided $100 billion for aid and 29 billion for fema disaster relief fund as i've been reporting there will be a need for more, joining us must enter wisconsin cargo from scott fitzgerald the house financial services and judiciary committees. it's good to have you thanks so much for being here, has his california wildfire aid need dominated at this point, california is what you need a lot of help we know there is real policy failures in terms of getting us here.

>> if you take a temperature on members right now, at the same time were watching this disaster happen under gavin newsom under the governor and one of our former colleagues. a lot of people are starting to wring their hands, are we talking supplement already. there's a lot of members that aren't there yet on exactly what this would look like it i think the speakers comments on that were correct there is going to be a lot of scrutiny and i'm sure there's going to be things tied to any aid that's going to make its way to california. >> what's he talking about is that the march 14 cr or sooner than that? there to do the determine this scope. i think it's something that will be woven in with the discussion

of many of the other things that we are considering right now. maria: sure, the last we heard was a cost of about $150 billion is that the number you are talking about? >> i don't want to confirm any number, because it's so early with the fire still burning, nobody knows what the price tag would be at the end of the day. there's gotta be changes this is a complete failure from leadership at the coveted tour you and may oral level right n now. maria: house republicans considering a list of potential spending cuts to pay for president trump's top priorities, politico is reporting that you and your colleagues are eyeing cuts of the federal food program staff that would save $22 billion the cato institute says reforming staff can save up to 190 billion over the next ten years the new york democrat tom suozzi told

fox he's open to working with republicans on the trump agenda. watch this. >> in my district president trump on by 19000 votes. i won by 11000 which means 20000 people had devoted for donald trump and tom suozzi together, they want us to work i don't think it was a mandate for one-party rule but it's a mandate to address the border and adjust the economy and address inflation. this could be a big fight in the republican party over the tax bill, the only thing were to get something done my way or the highway in the get it done or we work together across party lines find common ground. maria: you want to feel like you're working together then you hear what were hearing from chuck schumer he wanted to trade the confirmation hearing this morning in the coming weeks into a circus. >> is falling on deaf ears the idea that republicans dominated in the last election cycle. i get it we have a small margin in the house.

president trump certainly over performed in areas that no one ever anticipated in. if you are an elected official, in washington, d.c., that hasn't sucking in and you are in big trouble. there is a lot of things. and there's a lot of things that are changing. under consideration any piece of legislation you have to bounce that off and administration first to see if it's something that they want. with the changes in the cabinet and the personalities at any level it's going to be a different story right now in d.c. maria: tell jack smith of the department of justice release in the first round of former special counsel jack smith on trump and the 2020 election. jack smith claims that trump would've been convicted in the election interference if he did not win the presidency. trump responded untrue social he says this to show you how desperate the range jack smith is he released his fake findings at 1:00 a.m. i did say the

unselect committee illegally destroyed and deleted all the evidence. special counsel david weiss released his report of the hunter biden investigation. weiss slammed president biden for rewriting history after prep hunter biden said the prosecution was political weiss also wrote other presidents have pardoned family members but none have taken the occasion as opportunity to align the public servants with the department of justice. on false accusations. a lot happening here. >> there was a hundred 32 page of a love letter telling everybody across the country that he himself in the wonderful prosecutors that work for him did a fantastic job and if donald j trump wasn't reelected as president he would've convicted them. this is where every prosecutor starts from but jack smith is delusional on this front. it does not surprise me that they released this in the final moments of the biden

administration. >> that is unbelievable, good to see you, thank you very much. we will be following all of your work. >> thank you. scott fitzgerald in d.c., more on the wildfires to come 24 people are dead, dozens missing after catastrophic wildfires ravaged california. fox business griff jenkins is live in malibu which looks unrecognizable. >> good morning the crews are working around the clock to clear debris but a brand-new fire, the auto fire is broken out north. will bring you the details will become back. as your host, i have some rules.

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>> 24 people are confirmed dead, dozens are missing as firefighters working around the

clock to contain the devastating wildfires in los angeles, police arresting 40 people for looting and violating emergency orders, fox news national correspondent griff jenkins is live in malibu with the very latest. >> good morning southern california is bracing for another round of highbred flag wins today. you can see in malibu the crews working around-the-clock to clear debris let me take you an hour north where the brand-new fire the auto fire. a wind driven fast-moving brushfire between the cities of ventura and oxnard california you can see helicopters battling pds area where that winter expected upwards of 70 miles per hour and it's a problem everyone expecting that there may be

evacuation in some of these areas yet again with more than 150,000 evacuated. in these zones loot are more than 40 arrests of individuals in the unauthorized areas. not all are looters but many are. los angeles times reporting today the mandeville canyon area with high alert for more fires today, 200,000-dollar burglary and over in the eaton fire area, an individual stole literally from the house. these individuals will take advantages of such tragedy. l.a. new district attorney nathan hochman says he won't stand for it. listen here. >> we anticipated this was going to happen and these are the criminals. these are the people that are seeking to exploit this tragedy for their own benefit. today were here to announce that the promise that we made when we started this that the criminals would be arrested, they would be

prosecuted and they will be maximally punished. as a promise that we are keeping. >> compounded the problem individuals fly drones unauthorized in the areas where firefighters are battling the blaze. the fbi begging help to get the pilot who flew and impacted the super super that down for a number of days. then no success with that. the fbi says 20 - 30 unauthorized drones a day in these areas. finally president-elect trump fox news confirming he will indeed visit the devastated area at some point. we'll have the time or date presumably after he is inaugurated but it will be fascinating to see because there's already been a political war of words between the incoming administration in the local leaders like l.a. karen bass in california governor gavin newsom on the handling of the crisis while we're still not

out of the woods, official stressing we could see the 70-mile an hour guest and spreading of new fires where we are will bring you the latest as we get it. maria: thank you very much, griff jenkins in malibu, california. fox corporation made a 1 million-dollar donation to the red cross as california wildfire relief effort you can help by going to red cross or skating the qr code on your screen right now. meanwhile president biden delivering one of his final speeches as president from the state department yesterday, he defended his foreign policy decision including the 22 a botched afghanistan withdrawal. watch. >> reporting to the american people, the first president in decades who's not leading a war in afghanistan to his successor. in my view to end the war and bring our troops home, and we did. there is nothing i can say of my

conversation both she and putin both were adversaries and competitors are crashing china and would've liked more than cs to tie down in afghanistan for another decade. and in the war was the right thing to do. i believe history will reflect that. my administration leading the next administration with a strong hand to play. we are leaving them. and america with more friends and stronger alliances. these adversaries are weakened under pressure. maria: a strong hand to play the wall street journal out with a op-ed on biden's approval of his own record. mr. biden he leaves mr. trump having to rebuild the military amid a budget deficit in the range of $2 trillion a year thanks to his blowout domestic spending. as this is a strong hand what would a week would look like. in the strategic analyst and institute for the study of war, general jack keane.

it's always a pleasure. thank you for being here. >> i'm delighted to be here. >> your reaction to the commentary there in the final foreign policy speech. it's stunning rewriting of the fact of the history and you solve afghanistan you stop fighting in afghanistan another got a 2014. we had a modest representation of our troops 2500 that is less than what in the 52 brigades of the united states army that's how small it is and he makes this statement that we ended the war, we did not end the war we ended our participation to the taliban that susan charge of the country. that is what are the reasons it incentivize our adversaries not just because of the chaotic emergency retreat what they saw as the united states after

working side-by-side with the partner the afghan government to deal with the taliban who supported al-qaeda and killing 3000 americans, the reality is we surrendered that very country to her adversaries and they look that as being weak on part of the united states begin this idea that russia and china would not want us to be there. and the fact that he is trying to make the point that there delighted that were out of there, we had three cia boy under bases on the border of china, three cia bases on the border of iran one country away from russia. also military bases and the region as well. i doubt seriously that russia and china who feels bad that were gone out of there. this is ridiculous. when you look at what biden did,

trump turned him over, there was no war in europe that the biden administration in russia was threatening nato. there was no war in the middle east, the biden administration the war breaks out in the middle east and iran operationalized all the proxies to do that. there was president xi, trump was the first president to confront president xi and he built up the military budget. biden comes in and president xi is much more aggressive. the most intimidation and aggressive campaign against taiwan and the philippines and allies in a region that we've seen since he's been in power. what does the biden administration do when it comes to the military. everybody knows that china is outpacing the united states military. it's gone past us. that's a reality. what is he do flat budget, no increase of this defense budget for four years. he's rewriting the history and

nobody's going to buy it. maria: also the botched withdrawal put her adversaries on the march. use all trying to get much tougher and and much more aggressive in terms of their bad behavior. you solve russia as well teaming up with china, iran. there were so many legs to that withdrawal. i don't know why he put in the speech. >> is remarkable. his own intelligence service, four years after the 2024 state of the union, four days and this is what they said a summary of it, schedule briefing to the congress of the united states. the united states is facing the most dangerous threats from russia and china, iran and north korea that we have faced in many decades these are serious and the threats are growing. this is his intelligence service, painting a darkest picture of her adversaries

threats since we seen since world war ii, that is the reality they were talking to the facts. president biden is not talking to the facts. maria: president trump has said many times the hostages better be released by the time i get into inauguration. we see news negotiators are ready for another round of cease-fire and hostage talks in qatar today there is breaker ahead of inauguration day. trump's middle east envoy steve wycoff has been in doha for the talks working with middle east advisor brett mccartt. xes is reporting to israel and mediators are giving hamas a final draft agreement and the hamas' response is expected in the next 24 hours. house national security advisor jake sullivan spoke of the negotiation yesterday. watch this. >> we are close to a deal and it can get done this week. i'm not making a promise or a prediction but is there for the taking and we're going to work to make it happen. we will do everything to pursue together crossed the line.

maria: they have attended you all this time that joe biden was in office trump is about to go in office in now they have a deal in the first stage of this deal hamas would release 33 hostages held in gaza in exchange for a pause in fighting the release of palestinian prisoners, more hostage negotiations could begin 16 days after that, what is your reaction to the early going in terms of the. on a potential deal to get these hostages home. >> we've been here and it blows up. it's a very complicated deal 42 days cease-fire. 33 hostages would be released. women, children, people who are sick in men over 50.

mthe 16th they they negotiate for the release of the military men who would be the remaining israeli military men and the remaining hostages and high-value hamas and palestinian leaders will be released. the third phase which is the most challenging and complicated phase remaining presence in gaza. israel wants to say on the southern border with egypt. they walked to stay where cuts across gaza east to west about splitting gaza in the middle to maintain outpost there. they also want to maintain a buffer zone that is inside of gaza in 2 - 3 clicks and kilometers to provide security for the settlement that are existing outside of gaza. that is the most complicated phase of it. i think the details are yet to

be finished. hopefully this is the final agreement. it is long in the coming link to the families. maria: amazing. will be watching that. it's a pleasure to talk with you. thank you so much. >> great talking to you. maria: general jack keane tiktok up against the clock as it faces the band next week. who is china considering now to sell to. we are on it, wait till you hear this with the lawn musk, "mornings with maria" live on fox business. st... ♪ ...to free birds. ♪ vanguard. we got this. fifty years of helping you invest for every chapter.

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connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ maria: nine suspected trendier log will gang members in aurora colorado. >> maybe we could have written the story, the nine individuals charged in connection to a kidnapping and robbery in a rural apartment complex last month. they tied up, beat and stabbed a couple inside of the building leaving both victim seriously hurt. police say one of the suspects was already wanted for charges related to this video showing armed migrants and the gang members terrorizing the same apartment complex. this was month earlier. other suspects in the kidnapping

robbery case are still under investigation. we will keep you posted on the developing story. less than a week left in office, president biden canceling more student debt for over 150,000 borrowers. according to the biden administration it includes 80000 people who were cheated or defrauded by their school of choice 60000 borrowers with permanent disability, 6000 in public service workers. although the biden demonstration has lost legal battles to implement a broad program that went to the supreme court biden posting his canceled that for 5 million americans and has been doing that since he lost the supreme court level, there is this tiktok is denying reports of the chinese government wants elon musk to become the new owner before the new law banning the apps it goes into effect on sunday, bloomberg reported that beijing has been in talks over the idea of elon musk platform

is the right avenue. tiktok is dismissing the claims in these reports saying it's a. fiction. parent company by ants as appealed to stop the band in the commentary from the justices last week. elon musk has made no, about purchasing tiktok. former los angeles dodgers owner in o'leary ventures chairman kevin o'leary had expressed interest in buying the at. kevin o'leary was on with jesse watters on the newschannel, he said here's my favorite quote. look you can hear one of the stories every two hours that's what he told jesse watters last night. he said elon musk is a phenomenal entrepreneur that's what he told jesse but i'll add this about elon musk and twitter which he converted to x.

there was a lot of leverage them elon musk had taken on. i would think he would need a consortium and a lot of par partners. >> a lot of people want this asset. it's an incredible asset, tiktok if you actually can wrangle it out of the chinese hands we don't know if that's possible if bite dances the chinese company and the worries can they cut the chinese communist party often tiktok of american entrepreneur illness, frank has been on here and he wanted to. >> any deal if it were to come to pass would have to have the restrictions in their in order to suffice to the congress in the supreme court whatever the supreme court ultimately decides if they do what we think were going to do. i would add this i'm confused on the timing. by all accounts today is januarr

in the law firm but i used to see the corporate guys working their tails off on deals months in advance before an ultimate deal would go through. if you have the different parties saying they're working on deals how deep into the deals must they be at this point if they're going to pull the trigger on something by jan january 19. it seems a little while to me to think this is going to happen as quickly. stranger things have happened. >> there is a ban in place when the band happened the band happens they have to make decisions before the ban takes effect. >> sunday. >> five days. >> and proud of our country for making the decision to not allow chinese own tiktok but we gotta get the algorithm the evaluation differences with the algorithm is 2,025,000,000 and a billion without the algorithm as well as 20 million you seen over the board the good news are forced to get out and elon musk might

have a shot. >> we will see is a great point that you make let's get to fire weather conditions expected to worsen in southern california as strong santa ana winds feel the deadly wildfires "fox weather" meteorologist jeevan morgan with an update. >> the stories awkward away anytime soon, we have the fire weather warning in effect again today. it extends into wednesday and it's a heightened one, the particularly dangerous situation abbreviated pds fire weather warning. what we have seen the numbers on improvement the hearst fire 97% contain it's been a week since i started burning, the palisades fire in the eaton fire progress has been made and fires at 33% containment with the entire that has devastated the town of pasadena. finally last night in the santa clara river bottom should have decent container but you gotta watch the winds this is 0% contained.

maria: thank you very much, stephen morgan. a quick break. trump's cabinet confirmation hearing will begin today, the hot topic. pete hegseth in front of the armed services committee today. we'll talk about after the break. you are watching "mornings with maria". life after the break. sofi is helping me get my money

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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us this morning. i'm maria bartiromo. it is tuesday, january 14, 7:00 a.m. on the east coast. we kick the hour off wit