joining me right now mark tepper., kicking things off with you, with economic data on tap, we have existing home sales yesterday out down 7.7% in the month of november. this morning we have november's new home sales out. a lot of people say this area on housing is already in recession. >> of course, it is. it's ten months in a row. that's a record. you have to go back to 1999, maybe down 20%, housing start down permits down, prices down, all obviously all of that points to a recession. i think the clear message out there that people need to understand is jay powell wants you to lose your job, that's the bottom line. until he sees that, he will not take his foot off the brake. maria: the fed wants a slowing economy. what does that mean for earnings and the stock market? >> it's interesting, the consensus view, it wasn't this way maybe a few months ago. the consensus view is the bottom is in front of us and not behind us. you pull wall street right now, the bottom is somewhere between the end of the first quarter, secon

maria: bank of japan doubled coop on 10-year yield from 25 to 50 basis points mark tepper jump in yenlied stock market in japan sold off mark jump in. mark: more hawkishness from countries outside u.s. that happens when there is inflationary times. i have a question for victoria because right now i think consensus is 220 dollars in earnings for this year. subsequence also expects about 6% earnings growth for 2023. i am not sure this is a going to happen i would love to hear your take do you think in 2023 earnings will go up or down? will we be higher or lower than 220 expected for this year? >> yeah, i am not sure i am giving you an exact number but going to tell you i wouldn't be surprised to see us go lower than 220. do we go all the way down to 200? some analysts are saying that. we have a little bit of debate going on within our investment committee on how low that goes i think probably closer to 200, than we are to 220, look. you have s&p close o below 20 day low tells you bear market is in play, now do we go back to the lows completely? i mean i don't have the answer to that but

joining the conversation, dagen mcdowell, joe concha and a mark tepper. i want to see what a sitting administration told twitter because we're focused on the 2020 tweets a and the 2020 internal communications. let's' look at 2021, let's look at 2022 earlier this year then we could actually see the full spectrum of what this administration is telling social media and that is to censor information from the american people. dagen: but to miranda he he devine, she's is the author of the original story revealing the information on hunter biden's laptop, she has a piece that was posted late last night in the new york post on the new york post website and you only need to focus on really a few instances that james baker, the ex-twitter lawyer, the ex-fbi counsel was involved in this twitter scandal. and she writes about this, questions must be answered on james baker's role in censorship scandals. first conveniently parachuted into twitter five months before the 2 2020 election as deputy general counsel and vice president. he played an instrumental role in the c

around for 100 years markets never priced in recession when yield curve told you it was coming. >> mark tepperael look i am with you, i do not expect 2023 to be great year by any means i agree probably, a risk-off year in equities that being said there is a large number of investors who still have to have some equity equity ask exposure, so given that where can you hide out? are there certain sectors or style factors within equities that you would say would boe a good place to hide out in '23. >> real quick. >> sure, you know, this year it was about avoiding stocks that would get hit from higher rates. next year it is going to be avoiding stocks that are going to get hit by a more severe economic downturn, rates inflation are going to be really, in the back -- in rearview mirror, i would say it is a combination of companies that are less sensitive to the sick fiscality contradict temperatures you want to avoid, companies with negative, a lot of things thoof perform poorly this year with will continue to perform poorly, next year, what we want to own, is opposite companies that can survive a do

maria: joining the conversation mark tepper david nelson todd piro what do you think about this we've heard of from kristi noem on this banning tiktok even though fbi that has been all over saying a major threat using to surveil citizens. >> hiej nashing security threat we know ccp using tiktok to view, track monitor u.s. consumer data we know that is the case, yet, kristi noem is first person to finally step up, and say you know we're not going to allow this, this is a big time issue, if you you download the use app a criminal issue i believe she is pushing for in big trouble if you use. >> it i think pretty hard to enforce but i think other government agencies have to do this for me, it comes back to china, this relationship with them i think conversation with jonathan telling points to elephant in the room how do you negotiating, mow do you say that you are working with this other nation that you are going to be military conflict with some point i am more concerned about wag dog to deflect criticism all you need to do is create geopolitical or millry event around taiwan doesn't hav

the conversation is fox business dagen mcdowell and todd pyro in strategic wealth partners ceo mark teppergood to see everybody this morning, this is what we expected. there was a mistake, it sounds likely, it leaked after they were trying to build a bio weapon. your reaction. >> is unthinkable that the united states of america possibly funded the development of a virus that in turn was sent back into this country that killed more than a million americans. and we as a nation don't yet know the details of this and that people even in washington worked to suppress this information. luckily congressman james comer was on with todd earlier this morning is dead set on getting to the bottom of this. he plans to call 40 witnesses in front of the intelligence committee including maria bartiromo, peter days sick of the eco-health alliance. this was an instrumental organization through which money was being funneled through anthony fauci's organization through the eco-health alliance into communist china and you know peter dissect because he went after you on twitter for raising the issue of this fo

steve forbes and mark tepper next. veteran homeowners, need cash? with the newday 100 loan, there are no upfront costs for appraisal or termite inspections. no upfront costs at all to get the cash you need. veterans get more at newday. >> are we heading into a recession in 2023? >> i think we are. the failed policies out of washington have put us here. unfortunately, the central bank has no choice other than to slam the brakes on and drive up interest rates. there's a recession coming. it will last for about six months. >> martha: that prediction from glor youngkin when we sat down together yesterday here on "the story." the dow tumbles again today after suffering its worst day in three months. inflation and the fear that the fed acted too late to stop inflation rattling your 401(k) and other stock bets. who better than steve forbes to tell us what's going on along with mark tepper. first to fox business chief national correspondent connell mcshall reporting live from new york as we're in the final hour of trading. hi, connell. >> the market took a

now, mark tepper is with me. he understands this.what way could artificial intelligence kind of wipe out or ruin google? >> i think that seems to be a little farfetched. i think it's probably more likely that it displaces alexa or siri. they seem to be in the same lane google is a completely different animal, but i think what you just said is i heard it will write essays for you. that's incredible. if i had that back in high school and college life would have been a heck of a lot easier if that thing would have written my essays for me. pretty cool technology, but also , scary smart in that, you know, kind of reminds me of those terminator movies with arnold schwarzenegger where the machines get a little too smart and it made disparaging comments when asked for its opinion on humans. stuart: oh, yeah? >> it did. you want me to read what it said stuart: just the good one. >> they are the worst thing to happen to us on the planet, and they deserve to be wiped out. stuart: okay, we'll leave it right there. that's a problem i would say.

mark tepper great to have you the strategic wealth partners the president and ceo. mark, you know, i noticed something interesting that's been developing over the last few weeks. even as stocks cascade, mortgage rates just fell for the fifth straight week, so we're at 6.31% on a typical 30 year fixed rate mortgage. what is that telling you versus what all these rates that the federal reserve controls going up and what that is telling you? >> well, look, neil, thanks for having me. i feel like the fear baton is being passed from inflation to recession. now investors are afraid of what happens if we enter a recession and for good reason. i mean, look last week, we had a benign cpi report. the market rallied, and then you kind of come into this week, you have a hawkish fed, you have retail sales wiffing in november when you have black friday and cyber monday. you've got deteriorating p mi data so look, the way i feel is the only reason the markets not lower right now is that investors overall have a very short-term memory and since 2008 -2009 all investor knows is zero

mark tepper is with me. you shouldn't regulate, regulators should not be taking money from the companies and services they regulate? >> absolutely. i've never agreed with her once. stuart: nor me. >> i'm on the record agreeing with aoc this one-time. yes if you are bought and paid for , that is a substantial conflict of interest. you should not be writing the rules if that's the case. stuart: i mean, you could lobby but you don't make political contributions to a politician running for office. >> right. absolutely. stuart: thanks very much indeed, young man. do you like fresh christmas trees? roll tape. >> i give you the griswold family christmas tree. a lot of sap in here. stuart: all right now, you can have a real tree delivered to your front door the same day you order it. we'll tell you all about that. we got the fed decision today. could a pivot help us avoid a recession? john lonski takes it on, next. ♪ ♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consoli

over the last six months, joining the conversation all morning long dagen mcdowell, todd piro, mark tepper, your reaction mark. mark: look, the economy is in bad shape when you have inflation growing at 7% year-over-year, wages are only growing at 5% that is what you call an erosion of people's quality of live, it is even worse, for lower and middle income consumers than higher income consumers we're seeing thats bifurcation when we think about economy fed doing a pretty good job so far on winning the war against inflation but whenever have there is a war there are casualties, okay? and in this situation, casualty is likely going to be demand destruction, going to lead to a recession. maria: we saw that in housing dagen seeing right now. dagen: housing hasn't seen the worst of it yet what you've seen a lot of pockets of housing is a seize seizure not putting homes on markets not putting apartments on market you have not seen real declines yet you could see home prices apartment prices fall, 30%, 40% in the new. dagen: what you will see the concern from jay powell at the federal reserve, tr

i'm with mark tepper this morning. mark, jump in. >> good morning, scott. so look, i 100% agree with you that the fed needs to break the labor market in order to cool off wages and that's something that they're not going to come straight out and tell you because that's not going to win them a lot of friends but via question. after reviewing your notes, one of the things you make mention of is that once the fed stops hiking rates, which i think a lot of people are expecting that would be maybe summer of next year, that that's no longer an ideal backdrop for value stocks which have worked very well so far this year. in your opinion, do you think that once the fed stops hiking rates, that means that growth is going to come back into favor? >> you know, mark, we do. the backdrop for value has been really excellent in 2022. we've had high rates which brought multiples down which hurt long-term growth stocks quite a lot. you've had really, really strong nominal gdp growth and so value stocks excel in an environment where u.s. is growing really fast. now, partly w

. ♪ ♪ ♪ maria: welcome back, time for word on wall street, mark tepper, wealth enhancement group seniorpresident nicole webb, great to see you guys, thank you so much for being here. mark, kicking things off with you with big event yesterday with jay powell, futures are pulling back fractionally on the first trading day of december after the big rally yesterday. it was the second biggest one-day rally of the year because federal reserve chairman jay powell said that we could see the slowdown in rates as we look ahead of meeting in two weeks. >> i was very surprised as to how doveish he came across. maria: me too. >> at the end of the day it's really not a matter of whether december is a 50 or 75 basis point hike, as we were talking about during the break with nicole, what i think really matters is how high that terminal rate gets and what's being priced in right now 4.9ish%. i think it's higher, closer to 5.5 which is not good for stocks and then how long we say there and he's made it crystal clear that he's not going to screw this up. he's going to hang out and he's probably going to s

let's bring mark tepper in. go ahead, mark. >> good morning, nancy. i agree with you, i think dividend payers are probably where you want to be right now especially for those investors looking to buy the dip. but a question for you, there's a lot of investors who are just itching to get back into some of their favorite growth stocks. what do you make of the opportunity for growth stocks in 2023? >> boy, mark, it's 4:00 in the morning here. that's a good question. good to see you. yes, so we actually have growth at a reasonable price strategy. i think when you're playing in the growth space in this coming year, you need to be very disciplined about when you enter and what you're buying, obviously. so the companies that have no earnings, we're not interested in those. interestingly enough, tesla just came into our buy range on a relative price to sales ratio basis. the company does have earnings now and we're taking a close look at i if we added to a name like that, we would ease in over the first quarter. i don't think you're going to get a growth rall

. >> mike, this is mark tepper. question on time shares. time shares seem to get a bad rap. there's always that dreaded time share sales presentation that people are afraid of, the roofless salespeople -- lie--youruthless salespeople. what's the best way for someone to get a time share without having to go through the dreaded issues. >> i think that the issues you speak about reflect an industry pre great financial crisis. since that time, 80% of the industry today is represented by brands that we all vacation with every day, marriott, h hilton, disney, holiday inn. that's today's' time share. so i'd encourage people to continue of to holiday with great brands. maria: all right. we will leave it there. mike, it's good get your insigt on this. be merry christmas to you. >> m merry christmas to you, maria. maria: mike brown joining us. the next hour of "mornings with maria" begins right now. good thursday morning. thanks for joining us this morning. i'm maria bartiromo. it is thursday, december 15, 7:00 a.m. on the east coast. a texas judge is warning of a wave of illegal migr

all right, mark tepper this is the thing with this.tigieg in air traffic controller? here is what they say the meltdown this southwest is one for the business record books. and they will pay a price for months, years to damaged reputation. the only worst result is passengers to put transportation secretary pete buttigieg in charge of this. >> mark: yeah, we have talked about this before. he's not qualified for this position. he has a mayor and all due respect to mayors, they fix potholes, move stop signs and make sure the snowplows come out. they are not dealing with the complex logistics of railroads and airlines. it is not what they do. from my understanding the whole southwest situation boils down to the staffing situation. most airlines use this hub and spoke system where staff is based out of denver and they go to new york and always come back to that. where as with southwest, they go from .2. to point. if you miss one point to the next, it screws everything up. it is like the domino effect so they have no room for error and that

come in, mark tepper. mark, how is all of this affecting the crypto market?look, obviously investors are a little concerned. they're trying to liquidate their accounts because they're not sure if that money's actually going to exist at the end of the day. so none of this has mig to do with whether or not crypto is a legitimate asset class or whetherst a potential legitimate currency. all this really has to do with is probably the biggest scam, the biggest fraud of our generation, you know? a lot of people want to compare sbf to bernie madoff and, i'll tell ya, i think this guy's way worse. i think they should e -- lock lock him up, throw away the key. he makes bernie madoff look like a saint. i mean, when you look at the recovery of assets from that ponzi scheme, i believe, like, 88% of investors' principal, not the gapes because the gains were always fake anyways, but 88% of the madoff ponzi scheme principal was returned to investors. who knows how much -- probably nothing -- is going to be to returned in this unfortunate situation. but, rook -- look, to bac

joining the conversation all morning long this morning is dagen mcdowell and mark tepper. dagen, the story just gets better and better. dagen: it's just really breath taking but horrifying to go through this -- these revelations from shellenberger and this is what you have been talking about all along and what miranda divine wrote all along in her book, but in the recent files that were -- that shellenberger and elon musk published, these so-called experts spent months prepping for how to suppress the new york post report on hunter biden and this is in the new york post editorial today on how to suppress the new york post report on hunter biden. the files show a coordinated effort between the biden campaign, the fbi to limit the reach of the story that would damage joe biden and hunter biden but as you've said repeatedly, this is a joe biden story. but the -- like if you just go through this timeline, the new york post called hunter biden's lawyer for a comment the day before they published this -- the hunter biden story, the lawyer immediately calls the computer repairman

tata, tata, you can talk about another day, mark tepper.t tons remove content from facebook and why it's making a buzz this morning. back in a minute. ♪ ♪ ♪ (stalled engine) come on, ole' beauty. hey, are you ready? ♪ ♪ ah, this baby's coming. (knocking) ♪ researchers believe the first person to live to 150 has already been born. it could be you! wow. really? of course, you'll have to eat your greens, watch your stress, wear sunscreen... but to live to 150, we're developing solutions that help doctors listen to your heartbeat while they're miles away, or ai that knows what your body will do before you do. cool. introducing elevance health. where health can go. >> welcome back time for "hot topic buzz," facebook parent no i meta threatening to ban flews the platform, should congress pass the journeyism competition preservation act the bill will no, sir social media companies to negotiate compensate publishers for content posted only, the head of policy calls it an ill considered bill, a quote terrible press dent for all american businesses,

before mark tepper was talking on your show and i thought it was a great point because he made reference to sticky inflation, related to wage inflation. wage inflation up 5%. that is a really tough number to get down because as people have begun to make more money it is hard to take that away. many states increasing minimum wage. when you have that built into the system businesses have no choice but to pass that along to the consumer to the greatest extent possible. that makes it really hard to get inflation under control. the fed is going to keep at it with raising interest rates and it is going to be a very painful road. at what point do we get what we can get, inflation and rate under control, we have a long way to go here. neil: what about rail? mortgage rates going down. would that be a silver lining? >> the 10 year yield is down from 4.3%, under 4. 5%, the bad news is 14 months ago the 10 year was at 1%. it is higher than 14 months ago so i think it can provide a little tailwind but you still have the other problem and that is affordability. because of the easy money and printing m

conversation all morning long this morning is fox business' dagen mcdowell, strategic wealth partners ceo mark teppersident of maslansky and partners, lee carter. great to see everybody this morning. this happens over and over again, final hours, we're debating a massive spending bill. here we go. dagen: it's just astonishing. this is not just the democrats. this is a republican problem as well. so good on senator mike lee for pushing on this and trying to push on a vote on this title 42 measure. the wall street journal writes about it like this. that senate democratic leaders hope to break an impasse this morning over the omnibus spending bill that has put the federal government on the praecipes of a partial shutdown just before the christmas holiday. praecipes, you know, cliff, that suggests something treacherous or dangerous and i say, no, healthy, and if this omnibus spending bill dies the death that it deserves before the new congress can come in in january, good on it. and the democrats and quite frankly the republicans especially in the senate he dese this, over in the gold old boys club tryin

maria: dagen mcdowell, mark tepper, leigh, get to see you guys. "varney & co." begins now. david assmann in for stu. stu: good morning. i'm david in for stuart varney. bankman-fried is back in new york. meanwhile two of his associates, ftx cofounder gary wong and alameda research co-ceo caroline ellison both pleading guilty to federal charges. look at futures and doesn't look like a good start for the day and dow town 228 in premarket activity and look at nasdaq down at the bottom, over a one% fall again premarket and anything can happen and we follow it all. as congress is getting calls to account for an enormous $1.7 trillion, 4,000+ page spending package, it's loaded with pork and could hit a roadblock and cause a government shut down before the christmas. we have the details. we have congress till tomorrow night to pass the bill and meanwhile republicans and democrats at an impasse over title 42. we have all the details on all the developments inside the beltway and a possible bomb cyclone and arctic outbreak put 215 million americans under weather alerts. it's a good t

nichole saphier, amy freeze, mark tepper. we began with chaos at the southern border.of migrants waiting in mexico for the end of title 42 are now planning their next move

the agn indiana joining the conversation is fox business dagen mcdowell strategic wealth partner mark teppernd fox news contribute author of come on man, joe concha, great to see everybody thank you for being here. tiktok a big story. >> i do believe the horse is out of the barn in terms of the amount of data that tiktok by extension the chinese communist party has been able to collect on american foreign wide even very young children in this country. but the attorney general of indiana these are dual lawsuits. one of them, they're both based on consumer protection laws. one of them is a course alleges china has the ability to use tiktok's data to serve the country's national security and economic interest, i'm quoting some of the wall street journal article on this. the other is focused on children and it's very interesting, the lawsuit says this in the complaint focused on kids the state alleges the tiktok app is misrepresenting is appropriate for users ages 12 or older. for example yet of a 12 plus rating on apple's app store and tiktok must represent references to mature themes, alcohol,

immigration deal for protection with new border security money, joining the conversation dagen mcdowell mark tepper, dagen i guess at this point would i take a stand if you are a republican law enforcement take a stand don't agree to one more cent of anything until you have money going to the border, to protect and back ur border agents for trying hard to keep this border secure but impossible, five million people apprehended on joe biden's watch, two years, later. >> it is not a stunt to care about border communities. there are burdened in every imaginable way, by this -- mass illegal migration of people across the the open border. open solely because that is the policy from biden and company. it is not a stunt to care about the illegal migrants, the women being raped, not a stunt to care about the children who are being put in harm's way, who some of whom drowned, not a stunt to care about the illegal migrants dying and suffocating to death in the back of tractor trailers, not a stunt, to be angry, at the human traffickers profiting from the human misery suffering that will enabled by joe biden a

title 42 is expected feedback like i have said december 1 joining us conversation daving dagen mark tepper. joe concha dagen reaction. dagen: the border patrol suicides are just horrific i know a bipartisan movement respect and democrat congressman to implement an act called taking action to prevent suicide act. to -- at least in part address this issue, but it would help if the president over a year ago had not stood in front of the american people along with his vice president, and along with homeland security secretary, and lied about border agents on horseback whipping haitian migrants. they knew it was a lie, with rage vitriol all three of them castigated, vilified border patrol agents, destroyed their livelihoods, they still controversied apologize to them, so they show rage anger about that not about border patrol suicides, about the fentanyl is position death of migrants across the border whether drownings, rapes the hardship onboard communities hardship on communities across the country. it is astonishing, for a man who ran on being president empathy turned into a president apathy

maria: joining the conversation all morning long this morning is strategic welt partners ceo mark tepperfriends first co-host, top pyro and bell point chief strait t gist, david nelson. great to see you. mark, your reaction. they're going to jam this deal down the workers' throats whether they like it or not. you think they have 60 votes in the senate to get this through? >> possibly. but then there's that separate deal that he's trying to put through to save face which is giving the workers seven sick days. that's been one of the biggest sticking points for the workers so far. they feel like they don't -- they're treated unfairly b when it comes to sick time, they don't get enough paid sick time. their comp went up by 24% so if someone told me i would make 24% more, i think i'd just eat the sick time personally. i feel like what's on full display here is that when push comes to shove, president biden is willing to throw out all of his morals, he's willing to throw the people that voted him into office in the trash all just so he can avoid having a major blemish which would be a shutdown

stuart: what do you say mark tepper? >> i thinkerly i'll go with 7: 15. stuart: i would go with 6:40 why not? oh, 7:55. it is pearl harbor day, remember , 2,403 americans killed on that attack, december 7. our time is up on this pearl harbor day. neil it's yours. neil: just amazing, there's still 100 survivors. i find that incredible but thank you very much, stuart. at the corner of wall and broad, we got a market really doesn't know which way to go. a lot of this based on competing views among the financial lead as to where we stand. now we'll be talking to ken fish er about all of that in just a second arguably one of the world's most successful investors but weighing in right now is the citigroup ceo jane frazier saying much like we've heard from some of her colleague s, that we're in this phase of rolling company recessions, and says that india might be a bright spot that we're getting excited about. i don't know whether she was referring specifically to the market or the economy. maybe both. more worried about market liquidity and counterparties and

maria: have a good day everybody see you tomorrow dagen mcdowell, mark tepper, todd piro, "varney" & company begins right now. stuart: good morning, maria, good morning, everyone. ten days to christmas, christmas day that is but most of us don't have much cheer for the economy. the vast majority sees the economy as just fair or poor, and, three out of four say inflation has hit them financially, and jay powell says a recession is certainly a possibility. all right this time yesterday, the market was going straight up on the expectation that powell would signal easier times, but he was not to be and the selling continues today. plus, retail sales actually dropped last month, and that is not helping. the dow is looking at a 350 point drop. 50 points down for the s&p, nearly 200 down for the nasdaq. here is the recession indicator, actually it's one of several. the 10-year yield way below the two-year. the 10-year coming in at 3.47 and the two-year at 4.20. gas prices, well that's good news down another $0.02 overnight the average now is 3.19. i've counted 19 states where the average is

mark tepper executive director of the wyoming association of rural water systems.he largest utility membership in all of wyoming. in the first subcommittee. our first hearing on the drinking water in the wastewater actor showed a picture of some of the emergency repair work that his association circuit riders were doing in a blizzard. he's not entirely new to this committee. he grew up in cheyenne, in fact i was in high school with his brother as we often say wyoming is just a small town with long streets. mark has over four decades of finance and administration experience. 33 years in senior management eight years in public accounting. he's been involved in service and groundwater issues in colorado, nevada, texas and wyoming during his career, he served three terms on the board of directors of his local water and sewer utility. shares the casper area economic development joint powers board and appointed by the governor to serve on numerous other conditions and taskforces. beyond his incredible wealth of knowledge mark is a good and kind man and were lucky to have