tv Mornings With Maria Bartiromo FOX Business July 20, 2018 6:00am-9:00am EDT
>> the missouri dive team will start again in the morning, at this time we have 11 confirmed fatalities. 7 transported, only one of them had serious injuries, the rest moderate injuries. dagen: those killed in accident include children. meantime tornadoes flattening parts of iowa, at least 10 people injured as twisters devastated homes and overturned cars, we have the very latest. and a what i will -- whale of as flight, the strangest-looking plane ever. the goose was pretty weird too. we will look in history and look into the future, with me this morning kristina partsinevelos, kevin kelly and adam shapiro. that you think all for being here. you are watching commodity
prices, grain prices are getting crushed but not just grains. kevin: it's one of the biggest economic indicate cayers and that's copper and it's used for industrial production and buildings and it gives us a read through in chinese economic and recently gdp at matching the estimates, so actually pretty telling that there might be sort of this pullback in business investment due to the fact that commodities are selling off and it's not just steel we know has had a big-up but over the past months has weighed on commodities. dagen: we will talk about trade concerns with guests who are on in moments, we also have new york congressman chris collins who is on on, and huckabee and you don't want to misgentlemen. feeling impact of trade
tensions, america's closest allies could retaliate if the u.s. moves forward with tariffs as much as up to 25% on imported vehicles and auto parts. wilbur ross says it's too early to say if the trump administration will actually press ahead with tariffs, there's already swift pushback from moves of the president's own party in capitol hill. >> i would like to see us move to a zero tariff world. the tariff idea is ridiculous, i mean, it's ridiculous idea, it's going to cost american jobs, tax americans, it's going to be a texas on the american people and my sense is that congress will step in and keep that from happening if it attempts to do so. >> desperately hope that we get off to this tariff quick and really starting to bite around the country and it's going to escalate, that's the way this
goes. you hard press any instance where you impose tariffs to try to get a level playing field it always ratchets up. dagen: corn is trading at lowest point in almost a year. and the latest round of tariffs on $20 billion worth of chinese goods could hit the apple watch, fit bit, speakers with 10% tariffs. joining us jon hilsenrath, jon, your take on this tariff fight. we heard -- because, again, we heard in testimony earlier this week the head of the fed jay powell was very careful to say about what he says the economic impact of the trade fight. jon: right, but we also had fed report where fed goes out and surveys businesses about what's happening in real economy and layed out a xeal bunch of companies that were saying that tariffs were starting to bite them and, you know, i think it's
interesting, next week we are getting report out from commerce department on gdp growth in second quarter, it'll be a strong report but up with of the things that's going to be underneath that report is, again, the tariff impact, we are seeing companies that companies are building up inventories, they are trying to get products in before prices go up. one of the drivers of growth in second quarter was inventory growth as companies prepare for tariffs and we also saw up surge of soybean sales last quarter which was basically companies getting soybeans out before those tariffs went up. so we are seeing real distortions in the economy already. numbers are getting big enough that they are starting to bite. dagen: jon, with the hearing that we had yesterday on potential for tariffs on imported autos and i spoke my mind pretty clearly yesterday where i stand on that, on the impact on all automakers both u.s. which would see higher auto
parts and also foreign auto makers that have plants here in the united states plus the price, price increases that would be passed onto consumers running thousands of dollars per vehicle, that being said, do you have any sense of where the white house, where the trump administration stands on really pushing ahead and trying to use that national security issue to slap auto tariffs on? >> well, wilbur ross said at the hearings yesterday that they hadn't made a decision yet, so, you know, that suggested maybe their heels aren't sunk in on it but what we have seen time and time again there's a lot of disagreement on the white house on how to proceed with this stuff, it all comes down with the president, what does donald trump want to do, he seems to think that this tariff issue is a winner for him, so, you know, that seems to be where they are going on it. the other thing i say about autos is we did a story earlier this week on what's happened in the washing machine industry -- dagen: yeah, you did, we talked
which you guys reported so terrifically yesterday and the prices of washing machines going up. jon: yeah, what we saw 20% increase in just three months. you think about what that means for cars, if you get a 20% increase on cars, basically a 20,000-dollar car is now going to cost you $24,000, so, you know, that's kind of a rough sketch of what this kind of thing could do. kevin: jon, this is kevin kelly, you were talking about redurable goods, people buy those once every 3, 5, 7, 10 years, what my main concern is possibly the perfect storm of what we are seeing rising input costs vis-a-vis rising rates, we also have labor costs, you mention and labor is tight right now, you're talking tariffs, can we hit 4% gdp, how how do you see things coming up for the second
half of the year, this administration is still talking about 4%? jon: yeah, what's going to happen next week commerce department will report gdp numbers, estimates 4 to 5%. what we have to remember that's just for the second quarter, there's going to be a lot of people saying, look, we hit 4%, you know, mission accomplished but that's after 2% number in the first quarter and then like you say, the second half of the year is wild card, a lot of the growth that we got in the second quarter, again, was due to inventory growth and you could see companies pairing back those inventories later in the year, so, you know, i think it does look like economic growth has picked up tax cuts are spurring consumer spending, it does look like there's business investment but i just think a little too early to cel brit on this kind of thing, there's a lot of things that have to play out over the course of the year before we declare victory. dagen: before remove on, jon,
these tariffs have a long shelf life because we've talked about it on the program, my friends call it the chicken tax which is that tariff that's on truck that is we have 25%, tariff on import it's called the chicken tax because it was retaliation by the lyndon johnson administration to a fight we had over poultry import into europe back in the mid-60's. jon: right. dagen: they have a long life. jon: well, they have a long life and that light truck tariff is something that should be part of this conversation, you know, the u.s. is telling the europeans that they discriminate against us on cars, well, we have very high tariffs on their trucks and americans love suv's, that's a protection for domestic producers. dagen: well said, the dollar yesterday slid after president trump criticized the federal reserve saying he's not thrilled by recent interest rate hikes
suggesting that they risk undermining the strengthening economy, what do you make of this rebuke by the president in. jon: well, i say a couple of things about that, the first thing is that, you know, you have to be careful about looking a gift towards in the mouth, u.s. interest rates are very low, unemployment of 4%, we have an economy as we were just talking about that grew 4% and growing above seems its potential with a very low interest rate, the fed -- so, you know, you have to be careful about calling out the fed for raying interest rates aggressively when they are low in the environment that we've got, the other thing i'd say is that the fed hasn't changed its course at all. the trump administration came along, they cut -- they cut taxes, that has helped to spur economic growth. the fed has not changed its course. they've been on the gradual path
of interest rate, the president was complaining in the news club about the fed holding back what the trump administration is trying to do but they really haven't altered path at all, so, you know, it's a little hard to put that argument into perspective. >> adam, a lot of people were trying to make much about the president even talking about the federal reserve because recent administrations, i think it started with bill clinton administration that the attitude was don't talk publicly about the fed, again, it's a throw away comment, it's not like the president has got call jay powell on the back phone. adam: and the fed, jon can attest to this, they will preserve independence and bent over backwards to try to appear independent. jon, they are probably not taking the president -- they are still sleeping sound, are they not? jon: they are sleeping soundly but i don't think it's a throw
away comment because there's debate going on about whether the fed does two more interest rate increases or one, in other words, whether they -- they have a meeting in december where they've got to decide whether they want to do one more rate increase or do they pause and wait another quarter to do one. you know, it looked like even odds, if you're jay powell right now, you know, what do you thinking about whether you're going to do that pause later in the year, now all of a sudden if you do the pause, people might say, oh, well, maybe you're pausing because trump is breathing down your neck, jay powell wants and shows independence and could come into play in the meeting where they have to decide to keep going a little bit or hold back. i think this -- whether the fed likes it or not, this does play into how they strategize. i don't think it plays into how far they go on rates but how they strike that guise the next -- dagen: i made a joke on twitter,
let's not go as far as comparing this to richard nixon putting pressure on arthur burns to keep the economy juiced up. jon: lyndon johnson poking him in the chest saying don't do that. we are not seeing that yet. [laughter] jon: i do think that it kind of plays into the psychology of decision making. dagen: long-term interest rates are not directly controlled by the federal reserve, that's the market and they will move against you and fast and there's nothing you can do about it. jon, thank you so much. jon hilsenrath, we covered it all. vacation horror, at least 11 people dead after tour boat flips over in branson, missouri, frantic search for 5 others that are still missing, accident caused by rough weather in midwest which also triggered tornadoes in parts of iowa, we have the very latest.
>> at least 11 people some of them children are dead after a powerful storm in missouri causes boat to capsize. >> 31 passengers on board the bet. dive teams working through the night to find several that are still missing, the boat sunk to the bottom of lake as intense thunderstorms passed through area, 11 dead and two adults
listed in critical condition, ntsb is investigating why the boat was out in such rough waters. in the meantime we have tornadoes ripping through iowa shredding homes at least 17, the twisters flattening buildings and flipping over cars at least in 3 cities. >> oh, my god, oh, my god. honey, get inside. there just went a house. >> weather forecasters say tornadoes form suddenly and took them by surprise, one tornado hit manufacturing plant scattering sheets of metal while people still working inside. two minnesota police officers shot on the job, rushed to hospital, panic call for help just released. >> shots fired, i am down, i've been hit, left shoulder, he is
constantly shooting at us. >> shots fired. >> the officers were following up on a call about a missing person when a man started shooting, one of the cops shot in the shoulder and the other in the leg, they are now recovering back at home. the suspect is behind bars and he is expected to be charged with attempted murder. and in earnings, microsoft is firing on all cylinders these days, the company making more money last quarter than wall street had expected. it's cloud business soaring and sale of 360 tablets are on a tear. the stock is higher in the premarkets, meantime general electric is also out with latest earnings before the bell this morning, earnings per share expected to fall sharply from a year ago to 17 cents a piece, investors will be listening for another possible cut in ge's
dividend. last month ge announced plans to spin-off healthcare business and also share stake in baker hughes, which is oil company. shares higher in premarket. dagen: thank you so much, susan, we will be covering that, thank you for being here. coming up, americans are more concerned more than ever about illegal immigration, new details about immigration being more worrisome than money. the ride-sharing company let's you shop for snacks and other needs from the backseat.
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its a new kind of network designed to save you money. click, call or visit a store today. dagen: white house invite, the administration confirming that president trump did invite russian president vladimir putin to washington this fall. this as white house officials continue to address concerns over the commander in chief's recent summit with the russian leader, secretary of state mike pompeo reituating the president's tough stance on the kremlin. >> this administration has been relentless in its efforts to deter russia from its bad behavior. we inherited a situation where russia was running all over the united states. the last few days have been frankly more heat than light, this administration has been strong in supporting the ukrainians strong and making sure they are protected against russian expansion and other parts of the world, we all recognize that the threat is real and president trump has been strong and protecting america from russian aggression.
dagen: here now chris collins as well as democratic copyingman henry, member of house appropriation's committee, congressman collins, i want to start with you first, so close to midterms this vladimir putin putin to the white house, are you worried? >> i'm not at all. let's face it this is to be about world peace, dagen, our hot spots are north korea, iran and syria, that's what has put the world in a bad place, vladimir putin has fingers in all three of those and the only way to get resolution in safe world and world peace for vladimir putin and president trump to come to some agreement to get rid of the nuclear threat in iran and the nuclear threat in north korea and the terrible situation in syria, so that takes conversation, you don't do that over the telephone. i think the trip, the helsinki
summit was a good first start and trump to be congratulated that he's continuing a dialogue that someone that has to be part of solution, congressman, even, however, other republicans, lindsey graham said there won't be any one-on-one meetings any longer between putin and trump? >> well, you know, that speaks a lot when even a republican friends are saying that we shouldn't leave president trump and putin alone. i mean, that speaks a lot as to what sort of confidence they have, look, i agree with my friend, my colleague from new york that we have to make sure that -- first of all, we protect the united states, that's number one, that's our number one interest and one of the things we still have to answer is the aggression that russia did in 2010 election and i don't want to talk about that, but just what they did and what they are
doing now, look at the department of justice report they did about cybersecurity and cyber threat, so we have to make sure that it's not only the weapons that they use, you know, the general type of weapons but it's also the cyber issues that have been used against us. dagen: congressman collins, to that point, there's going to be a great deal pressure on vladimir -- president trump if vladimir putin is on american soil to put the hammer down in terms of any manipulation of our election process and really hammer that home, there was a microsoft executive who was speaking at a -- speaking at a conference, i think, it was at the aspen institute that there have been attempted russian interference with a handful of candidates, about 3 candidates so far for the midterms. >> well, there's no question,
dagen, that russia did meddle in the election, it didn't change the outcome of the election, but they were meddling just like we have cases where north korea and iran are attacking, attempt to go get into infrastructure, nuclear plants, we have them going after bank records, right now cybersecurity is a top issue not only when it comes to elections but every other aspect of american lives and we've got a lot of bad actors and the same people and it's north korea, it's russia, and it's iran that are leading these efforts and we have to be on alert not only in the government but also private industry and even common sense measures by individuals that is one of the issues that's facing us and will continue to face us, literally, forever. dagen: i want to switch to immigration, new gallup poll released wednesday showed that immigration was top problem facing the united states among
pose polls followed with dissatisfaction with the government and poor leadership, how can congress come together to fix immigration, congressman cuellar, you did vote to support ice. >> well, of course, i support ice, i've worked with them for many years, i know them, men and women and i don't think we need to attack the men and women that are just doing the law, just enforcing the laws, i think what we need to do is look at the policies. bottom line is this, bottom line if we are going to do immigration, every piece of legislation that's been passed on immigration has been bipartisan. if one party thinks they will do it by themselves, it's not going to happen. it has to be bipartisan and i'm surely -- i'm the first one to reach out across the aisle and say that i'm ready to work, there's ways, i live at the border, i drink the water, i breathe the air and i understand, the only problem i have is when people come to the border, spend a few hours and they think they know the border
better than constituents and law enforcement people that we have on the border with all due respect. dagen: congressman you sound like you're talking about members of your own party too, not just -- >> if you're right, if you look at some of my quotes i've said to democrats and republicans, hey, pay attention to the people that are there, that have lived there, that understand, for example, in my area, we want to see legitimate trade, commerce, tourism with our friends of the south but it's got to be balanced with border security. dagen: a lot of bipartisan agreement on this program this morning and i think our viewers appreciate it. congressman chris collins great to see you and congressman henry cuellar. >> thank you. dagen: microsoft still 9 billion mark but still struggles amazon.
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its earnings moves, earnings-per-share $.19 a share, that is the actual, it came in versus 17 sense so a beat on earnings-per-share, $30.1 billion on revenue versus $29.31 billion is the estimate. that stock moving up one person. what do you make of this? it is what is said in the earnings release and conference call about the dividend, asset sales and the like. >> they are focused on the restructuring plan predicated on the power unit, everyone seeing what they will do with that. and guidance for the rest of the year. ge said they would make one dollar and $0.07 for the entire year. analysts expect to do $.95 so if they come out and reaffirm the guidance and show planes taking hold we could see a pop in the stock but that is moving a little bit, 1% and we will see what management says.
dagen: let's bring in strategic research partners ceo jason turner, better to take a breath and get it right. you are one of our favorite guests on this program. what do you make of earning season so far? >> you only have 10% of earnings looking like 22% increase. a lot of people are focused on the second derivative, you talk about a peak in earnings and i'm focused on the level and the good news is you are creating a lot of value with earnings coming in and it is not just taxes. in the first quarter earnings were up 24%. if you strip out taxes they were up about 9. this is the real thing. dagen: earnings up 23% from last year. analysts looking for the
estimates, 20.5, 21. >> investment sentiment is relatively bearish mixed with uncertainty, we could potentially be heading for a little bit of a downward trend. >> from a short-term perspective that is possible but i also think intermediate to long-term investor the fact that people are concerned, this is a strange bull market because in many ways it is the bull market no one loved, people keep fighting it and it keeps grinding, 9 years old and four months and the zeitgeist around the bull market is not cocktail party stuff. people are not swapping 3 letter, 5 letter symbols at cocktail parties, not like it was in the 90s. dagen: in the firebreathing
rage about the latest trump tweet, not the nuts and bolts of the american economy. jobless claims were the lowest level yesterday since 1969, the year we landed on the moon. >> the younger people if they are going to be speculating speculating on that coin, they are not buying jacobs engineering, one or the other issues are public companies. the ubers of the world so on and so on stayed private companies. that has moderated the investment in a good way because you don't have people all the way in. it is more an issue for private equity. >> one of the biggest things that hampered the market is they don't know what multiple it should be trading at, 171/2 times earnings, do i want to put new money to work, operating margins, financing
costs going up, labor going up. a lot of these concerns, where do you think the market goes from here? where is the fair pe multiple? >> there is a great rule of thumb, the rule of 20, and you subtract the inflation rate and we have very fancy sophisticated models and they are about equal in terms of how well we do. it was pretty fair given where inflation is, going into appear go that lasts longer. the market is a more in line with long-term earnings trends which we know are more 7% or 8%. last year you discount a lot of earnings into 2017. that is why the broader market isn't doing as well as the earnings are doing. and it is more sustainable
after that. >> we are seeing sales growth, not just the tax cuts, should investors be acting if the earnings reports pools forward because of the threat of tariffs? >> the measure in my opinion is how well the cycle lasts. i'm not convinced we are late in the cycle as people think. it is possible but the full measure of the advocacy of these tax cuts will be capital spending. capital spending is virtually nonexistent since the great recession. a lot of financial engineering, if you look at capital spending you get productivity, productivity keeps labor costs low, keeps the fat out of the way and create wealth for productivity. the tariffs are an issue and part of this we have to get used to, commercial real estate does trade which is very broad,
not just trade but contributions to nato, part of one big omnibus negotiation makes people feel very uncomfortable but i wouldn't lose sight to answer your question of the fact that fiscal stimulus is enormous and i am not sure, looking at $400 billion in repatriated profits this year alone. dagen: let's stay on the fiscal stimulus, tax cut to.0, house republicans pushing ahead with plans to pass additional tax cuts. the senate not too hot on it telling the wall street journal nomination spending bills and flood insurance our priorities at of the new tax bill. >> one thing, i am a fan of the president but even if you are not, one thing you have to say. dagen: how dare you say that out loud in the middle of new york city. >> whether you like it or not the one thing you have to say,
not lazy. this guy is every day a new thing coming down the pike. if you are a politician you might say this change in the tax code is urban heart surgery, this is very complicated, takes a lot of political capital. i can see why if you are senator you are saying why don't we go with flood insurance, something we can do easily where do we want to take up, have another knockdown drag out fight on the tax code in the us is 3.5 million words to give some idea of the complexity of it. there is need for reform but i can see from a political point
of view other people are saying slow down. dagen: donald trump said in an interview he is ready and this is not that big news but coming from the president it is going to turn heads that he is ready to put tariffs on all, $505 billion of chinese goods we import into the united states and we pointed out that the president thinks he can win that fight based on tariffs because exports to china, only $130 billion a year representing 1% of gdp every year so he feels that is how he can win that fight but again the rhetoric is getting hotter and hotter and more extreme. how does this play out? >> the headline risk is part of the reason if you look at the difference between the performance of small caps and large caps, there has been a big difference, small caps hitting new highs, nasdaq, russell 2000, larger taps doing fine and the us stock market is an extremely important yardstick as to how he was doing. if you are looking at how the us stock market is doing versus china's stock market you may not think that. he is saying we are winning,
what is the problem? i am not justifying it but from his perspective when it is a problem i might change. dagen: i catch a lot of heat because i am anti-tariff. i can safely say that but i keep hammering it because i know people who have been hurt by steel and aluminum tariffs by the pushback from china because it is not just exports and imports and tariffs on those goods but what china is going to do to businesses, general motors makes its cars in china that it sells or even the soybean farmer, a third of sales have been cut off. >> somebody's aux is going to be gorged by this. by the same token just practically speaking the president has a different approach which is anonymous approach but i take comfort in the fact i would be more worried if he were a lawyer.
the reason being they would negotiate this thing to death until you have deal fatigue and it would be over. the fact that he was a businessman and a good businessman means they are going to have a settlement. any negotiation can be very uncomfortable with risk to the market. >> he went in to the g7 and said that given of all tariffs, you get rid of your tariffs and i will get rid of my tariffs. their heads exploded. >> and you have to get rid of the subsidies. macron was saying we don't know what to do. >> are you concerned? all these countries going on without the united states, the eu joining forces with japan, germany, china, working on something with canada and mexico. where does that leave the
united states? tpp? >> i'm not that worried about it mainly because this is the best time if you are going to renegotiate trade this is the best time to do it because you have all this fiscal stimulus. in washington dc, dan is great. the ratio is getting smaller but looking at fiscal stimulus to trade drag, it was 10-1 and now it is 7-1. the good news it is 7-1, the bad news is it was 10 two months ago. dagen: race to $1 trillion market, apple, amazon yesterday hit 900 billion. i have a bet with kevin. amazon is going to win. >> you know what you want to do. >> first is amazon, amazon gets
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>> i'm pregnant but don't know how to do this by myself. >> your mother is the greatest person ever. >> look at my face. >> let me tell you how she did it all on her own. dagen: that is a clip from mamma mia. starring meryl streep. the sequel to the adaptation of the musical and one of three sequels openings this weekend. >> better than this, just saying. you know who is in the sequel? share. just when you need it most, share makes everything all right in the world. you can't get enough of share. i saw it a couple weeks ago.
the reviews are mixed but the cast is phenomenal. the original debut, $144 million domestically grossed 600 worldwide. this looks to open up comparably. before beauty and the beast open to $1 billion last year, who knew? the music is infectious. pierce brosnan is another guy unfortunately. could have been spared that. shares here. this is what moviegoing is, fun, escapism and -- dagen: occur daily trip, box office heavyweight denzel washington returning to the screen, the equalizer ii.
>> i'm going to kill each and every one of you. the only disappointment, only get to do it once. dagen: what do you think? >> number 3 this weekend. eight of the top ten movies are all sequels, unheard of. the first time ever. a big market this weekend, this will come in number 3 behind hotel transylvania which will drop 23%. dagen: also hitting theaters, unfriended dark web. >> i have not seen it but it is a typical production, he makes his movies for $5 million and they go on to earn 10 times that at the box office pulling in $7 million. another sequel as well. blood house has these things down to a science at this point making money regardless what
the reviews are. dagen: 49 years ago today neil armstrong, buzz aldrin, the crew of apollo 11 made history as they did the impossible, watch. >> 30 seconds. contact light. >> engine stop. tranquility base here, the eagle has landed. dagen: hours after landing on the moon, armstrong will be the first man to walk on the moon, on its surface. watch. >> that's one small step for a man, one giant leap for mankind. dagen: how fitting the new biographical film of neil armstrong, ryan gosling was announced, opening at the venice film festival. >> it is not too early to think about oscar's. seems like a long way off but there is a lot of buzz about this movie, the venice film festival, the movies that open it, bird man, gravity, lala land have gone on to win a lot
of gold, erected by damien giselle. it is going to be a contender. dagen: let buzz play himself. buzz aldrin is the man on this program we let leave with the "mornings with maria" mug. we are not stopping it. have at it. >> he has seen alien. dagen: have a great weekend. still ahead, never get your ups delivery swiped from your doorstep again. new technology upping the ante on your precious packages, next hour, "mornings with maria". like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day.
drownings are the number one cause of accidental death for young children. simple safety steps are the best way to prevent these tragedies. make sure kids learn how to swim. designate an adult water watcher to watch kids in and around water. save the phone calls and texts for when the kids are out of the water. properly fence all pools with fences at least four feet high and with self-closing, self-latching gates. when above ground pools aren't in use remove the ladders. when pools aren't in use, cover them. teach kids to stay away from drains. and if a child is missing check the pool or spa first. consider the steps you take then add a few more.
because you never know which pool safety step will save a life until it does. simple steps save lives to learn some new ones visit poolsafely.gov dagen: good morning, dagan mcdowell and maria bartiroma, the top stories at 7:00 eastern. a new terraforming. donald trump is ready to slap tariffs on all chinese imports, more than half $1 trillion worth of imports every year. the growing concern straight ahead. that news taking a toll on the future as we are near the lows of the morning, the dow industrials, futures are off by 95 points after all three major market gauges finished the day lower yesterday across the board. the financial sector weighing on the dow after week results from travelers and american
express. in europe we have some buy-in, now lots across the board. again, what does this say about any potential flights we get into with trade in europe? in asia overnight we had gains on three of the four major markets, the market lower the nikkei in japan down one third of 1%. general electric reporting last are posting better-than-expected results, the company backing its profit outlook and we move on to the midwest, extreme weather ripping across that part of the country, parts of iowa flattened after twisters moved quickly across the state. >> lost everything except the house but we are still here. >> we are going to rebuild and come back stronger than ever. >> we saw two funnel clouds.
we saw electricity flickering real bad and a lot of debris coming up in the air and that is when we started evacuating our area and tried to find some shelter. dagen: meantime wild winds in missouri causing a deadly accident when a duck tour boat capsized. 11 people killed including children. the latest developments as divers head back into the water this morning. the nfl changing its tune on and them protests. the latest as the league suspends its new rules. you can look like iron man, this jet suit is going viral. that and more this morning, managing partner, kevin kelly, and adam shapiro. now we are getting tougher talk from the president threatening tariffs on all $505 billion of
imports in china every year, $34 billion with an additional $16 billion on deck, another $200 billion and another $200 billion, that would take us to 450. based on what we heard today we already know this is how he is planning to negotiate. >> it had its effect on the currency markets. we see the dollar get stronger and the president had concerns about that and you see that way out, i don't want the fed to raise rates anymore. i think he is starting to contemplate the ramifications and repercussions that could be happening now where he thinks we are in such position of strength, 25% of global gdp. dagen: the economy is strong. >> listen, that move, the world will move on without us and we
are starting to see talks of that. japan hasn't said a word about tariffs. when they start to mention it that will put the pressure on. dagen: we will see. the markets have been extremely resilient during all this. investors react to escalating trade tensions, donald trump is prepared to slap tariffs on all $505 billion worth of chinese products imported into the us every year. german chancellor angela merkel speaking out on trade this morning warning potential us auto tariffs would go against wto world, joining us now former presidential candidate mike huckabee, what is your take on this? at least in the short run it doesn't seem to be getting better or getting the us to a position we are renegotiating trade deals and negotiating freer trade, fair trade. >> the goal of the president is not short run, it is long run.
his ultimate goal, people don't remind themselves, to have no tariffs. go. true free-trade which we don't have. to stop people stealing intellectual property, to stop people from violating the trade agreements and dumping things onto the market to undercut american manufacturers, suppliers and providers and this is a president i don't people fully appreciate, a guy who blinks, he goes into a fight and stay there and pummel the other side until they give up. if anybody thinks donald trump is weak going into this or has a bluff mentality they totally don't understand the man and i say that from having stood on the stage with him during the campaign and watched him absolutely pound people into the wood floor. look at the long-term, not the short term to understand this. dagen: investors are quite
rational and they do see that, they are willing to step back and wait and see what comes of this because the stock market, i have been accused of having my hair on fire by people in the administration because i'm not a fan of tariffs. the stock market has been incredibly patient so far with the president and goes to your point. >> the reason the market is patient is they do understand. this is a long game, not a game, he's not playing checkers, he's playing chess and playing to win and looking at this from the standpoint of what is good for america. i am so glad i have a president who says what is best for america's long-term rather than what is going to make things look good for the next political election cycle. we have not had that kind of presidential leadership and let me tell you we had week sort of
capitulating leadership and always just rolled over and let people because we didn't want to upset anything. the result is we are getting our heads handed to us. why don't we try this and just see acting from a position of strength and acting from a principle of true free-trade we don't end up with something much better. dagen: i tried to be balanced on this because there are american businesses getting hurt by steel and aluminum tariffs, getting hurt by the fights we have picked so far and you have to say to those people we understand and the white house is going to have to say to them you are going to have to put up with this pain and so we can work this out. >> you are seeing a lot of those sectors, agriculture is a good example, who do understand we are taking a bit of a hit right now but the administration is doing everything possible to try to ameliorate some of those concerns and challenges and
issues and pains. at the same time say to them stay in the boat, stay with us because in the long term we want to put you in a place where you are not going around hat in hand begging foreign countries to play fair and undermining your basic industry. dagen: socialists taking liberal message to kansas. bernie sanders and new york democratic congressional candidate alexandria cortez teaming up to 10 pain -- campaign for other democrats this afternoon as cortez is facing backlash over her explanation of the current low unemployment rate which was so wrong it was laughable with senator elizabeth warren doubling down on those claims as well. listen to this. >> unappointed is low because everyone has two jobs. unemployment is low because people are working 60, 70, 80
hours a week and can barely feed their kids. >> when people are working at minimum wage jobs that won't support them or working two, three or four jobs to pay the rent and keep food on the table, simply saying the and employment figures have gone down just doesn't get you there. dagen: that is not how the unemployment rate is calculated and people with multiple jobs is 5% of the people working in this country versus 150 million people with one job and 5% of those in the workforce have multiple jobs and she brags about having an economics degree. >> i wonder where are these fact checkers that love to fact check conservatives and republicans, half the time they are not right about what they so-called fact check. the girl wonder they are, the 21-year-old wonder king who is
now a savant for economics, good grief, if anybody wants to see what happens when you move toward a greater level of socialism let's just take everybody down to venezuela and let them stand in line for the toilet paper you can't even get any more and ask them is this the country you want? is this the economy you embrace? elizabeth warren talking about people with poor jobs just pulled that out of nowhere, the question is you have one job, being a senator. why don't you show up and do it and that includes confirming some of the nominations the president has made, it includes trying to do your job as a senator rather than going around making up stuff like a fiction writer. dagen: there has been a lot of pushback on those cortez comments, the reason magazine wrote people working multiple jobs has no distorting effect on the unemployment rate. it is calculated by the number
of unemployed people divided by the number of people in the labor force. that is how you get to that number and it is astonishing to me so many liberals will sit there and buy their head and go that is right, abolish ice. the republicans have to just be totally excited by the lunacy. >> let's just hope these are the spokespeople the democrats want to put forward. add to that joe biden and hillary clinton and it is the mother load. why don't we go ahead and say the number one priority in america is getting rid of plastic drinking straws because you have celebrities saying there are 500 million drinking straws a day, you know that number came from? a 16-year-old kid on a video that has no basis in fact, these are the most feckless people i have ever seen and the sad thing is people are paying attention to them as if they have something to say and they don't.
>> i want to say you are hitting the nail on a 5.talking about elizabeth more needs to be doing her job because she is so concerned about people working four jobs why doesn't she vote on tax plan 2.0? why doesn't she lower the tax rate for personal people? just go out and do it and put more money in their pockets so they can feed their families better and i think the biggest problem we are going to have is the narrative you are talking about going into the midterms. what do you think democrats will hang their shingle ongoing in and trying to do their blue wave? >> i think you are exactly right. it is absurd to me the democrats and the republicans, let's be fair, some of the republicans in the senate don't want to take on senate tax plan 2.0 because it is hard work. you signed up for hard work. do it or get out of the way and let someone else coming who is willing to.
i think the democrats are in a tough spot. right now they're only slogans we are so cool we don't need ice. that is their slogan. we are going to open the borders, raise your taxes, take away your bonuses, capitulate to foreign governments and go back to being the nation of weakness. i can't see that selling with most people in america who actually -- i don't see it. anybody with iq above broccoli should understand that is not a winning solution to making america even good again much less great again. dagen: i want to turn to the nfl the league suspending its rules over the national anthem announcing it is working toward resolution with players union. this announcement as miami dolphins players protesting on the field could reportedly be suspended for up to four games, your quick response. >> it is clear that the nfl is in salesman, they cannot figure out if their job is to play football or politics.
they need to get it right soon. then go away and we will be a nation of soccer. dagen: never one to mince words and we appreciate it. have a blessed day, blessed weekend, merck makes three, the pharmaceutical giant dropping prices for some of its drugs following pfizer and novartis making similar moves. leaving on a jet pack, you can fly like iron man if you can afford it. we will tell you how much this jet suit is going for ahead. ♪
dagen: 11 people dead, 7 more missing after a duck boat capsized is in a storm in missouri. matt in has the latest. >> right now we are working to bring this horrifying eyewitness video that is still coming in, some of it shows this tour boat full of people fighting waves so strong it looks like the ocean. this book gives it all but it has got but slowly goes under and starts to sink. the stone county sheriff's office said 7:00 last night the first 911 call came in reporting the duck tour boat sank near branson, missouri during a strong line of storms
that came in, 31 people went into the water, 11 people have died, 5 are still missing, dive teams work until midnight searching the waters, they were reportedly children on board but authorities have not confirmed if any died. one man visiting from iowa was on a separate boat at the time it helped a woman out of the water. here's what he had to say. >> i was yelling for people to get cpr and other things, i knew cpr so i was ready to go. i didn't see them fall over but i knew it rolled. >> police holding a press conference at 9 am when we expect to learn more details. dagen: thank you for reporting that. several towns in iowa cleaning up and assessing the damage after a round of tornadoes touched down. susan lee has more details. >> reporter: 70 people were injured and sent to the hospital, look at these pictures, the twisters renting
homes, knocking off roofs and shattering windows, you can hear the panic as the storms move through. >> oh my god! oh my god! get inside. get inside. there just went a house. >> reporter: weather forecasters say they formed suddenly and took them by surprise. one tornado hit a manufacturing plant scary sheets of metal while people were still working inside. in earnings general electric, ge reporting better-than-expected numbers, ge posting and adjusted profit of $.19 a share on revenue of artie billion dollars, the company's aviation and healthcare sectors were strong offsetting a drop in the power business. shares of ge hiring premarket, shares microsoft on track to hit an all-time high at "the opening bell". the company firing on all cylinders. microsoft making more money than wall street anticipated as cloud business is soaring and
sales of its office software surface tablets and gaming products are all on a tear and fans of chick-fil-a's calendar having a cow, the company putting it still your cow calendar, popular holiday gifts, coupons for free food with funny photos of the cow mascots. one person tweeting chick-fil-a is retiring the cow calendar after 20 years, what is the point of even knowing what day it is if i'm not getting that information from a marginally literate cow? all right. applaud those who wrote the script for this. back to you. dagen: coming up, tesla taking another hit by one analyst, 20% of model 3 orders have been canceled. a scary trend. growing number of workers ghosting interviews and blowing
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dagen: ups upping the ante on package delivery, the shipping giant announcing a partnership with latch, the only smart lock system for apartment buildings, logical pilot program that allows packages to be delivered inside your building even when you are not home. the goal is to reduce package theft and prevent drivers from making repeated delivery attempts. joining us the ceo and cofounder of latch, the man himself. the you and your cofounder name forms 30 under 30 list for consumer technology.
explain how the through the product provide temporary credentials to a ups delivery driver or other carriers to get inside is also drop the package off at a secure location and leave and they do that very quickly and efficiently and when you come home your package is waiting in a secure area. >> is it in the works, i had this in a hotel recently, if i am at work ups calls me, i can unlock the door. >> better than that. the way we work is you never have to get the call. we credential ups in advance so you don't have to be interrupted so if you're trying to make a delivery you wouldn't be able to let them in and we have given ups secure access in advance so they can make a delivery and it is seamless.
>> we are living in the truman show, but how does it work? i can see who is coming to the door. >> each of our product is a wide-angle camera, a still camera so when a delivery personal guest enters a code or uses a credential to enter we capture the photo and think of it like a receipt so that receipt goes to the delivery carrier, the building owner and the building resident so they have a receipt about what happened when they were away. >> i couldn't step pictures. >> we only take photos of guests so your privacy is important to us, there is no data at your private door but for delivery carriers and temporary guests we have the receipt for the building owner. >> what is the impetus for them? they have slippage up to a certain percentage to reduce that to increase earnings. >> without getting too
specifically advantage to have a product like this is threefold. you are able to make a delivery and have it guaranteed you will always get it so you don't have to wait around and hope someone is home, buzz a bunch of people and leave one of those door tags. a driver around new york city, sorry we missed you, this eliminates that. this a lemonades redelivery attempts and provides transparency when packages are delivered on a particular route. dagen: talk about amazon has rolled out its amazon key at home system expanding delivery to the trunks of some cars as well. how does that fit in? >> the first delivery of an amazon package in 2016 so we know she -- people shop on amazon, your amazon package goes from a warehouse to your apartment, we make sure amazon deliveries get in. with a case of amazon key they are focused on similar family
homes. it allows someone is your private space to make a delivery in your single-family home. that is a larger leap to take and everyone is comfortable with receiving packages. not everyone, most people are not interested in having it in their private space. >> are you worried about amazon moving into your space? >> know because amazon delivery utilizes the system today so for us there are lots of customers and/or types and amazon works for single-family homes for the types of customers. dagen: you are an aggressive young entrepreneur. why would you keep the company in new york city with the high cost of living? dagen: i don't think it is funny. >> it is about proximity to
customers. and there's a lot of real estate owners, and incredible density of users, close to end users, important for us and an amazing amount of talent and for myself and my cofounder, our pitch is essentially we think we have one of the best hardware companies in new york city, if you want something different and i do living in california work in new york city. dagen: new york is a lot more fun. which company hits the market? >> used to work at apple. >> i am not a hardware guy. i believe in user experiences and that is what apple is in the business of selling, steve jobs would immediately say apple -- hardware and software.
>> she gets to the deck of leasing models and escaping purchasing a device and that is the connection. dagen: we just need -- thank you. >> you will be invited back. dagen: on the anchor chair, you never know. such -- so great to talk to you, please come back soon. merck makes 3, pharmaceutical giant dropping prices for some of its drugs after pfizer and novartis made pricing moves. a new hiring headache. growing number of workers are ghosting interviews and blowing off work. you get hired and they don't show up because the job market is so strong. ♪
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i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. dagen: it is friday, july 20th and your top stories at 7:30 eastern. is donald from gearing up for a knockdown trade war with china? the commander-in-chief announcing he is willing to put tariffs on all chinese goods imported into the united states adding up to half overreact in
short run to the fact that leaders of countries are trying to get the best deal for their country. it takes a little time to work through the system. dagen: you can get more of bill mcdermott's wisdom with maria on wall street on maria bartiroma's wall street at 8:00 pm. the gain on the nasdaq, dow futures, lows of the morning, 75 point loss yesterday. it was the lower close for all three major market gauges here. how is your faring? losses across the board, the biggest loser the dax in
germany half of 1% and asia overnight, mostly and positive territory, the nikkei in japan, first pfizer, novartis and merck, it will put in a limit on price increases on several products after donald trump took the industry to task over those drug prices. if it is not one thing it is another for elon musk, still on the road for sticking his foot in his mouth on twitter yet again, tesla having trouble with canceled orders for its model 3. we have the detailed and we heard stories of ghosting on a bad date, just disappearing, not showing up, saying i'm going to the restroom and not coming back but how about the workplace? move over tony stark. in a jet suit for sale in london costing a pretty pound.
and white house invite, donald trump did invite russian president vladimir putin to washington this fall as white house officials address concerns over the commander-in-chief's recent summit with the russian leader. mike "fbn a.m." reiterating the president's tough stance on the kremlin. >> this administration has been relentless in efforts to deter russia from bad behavior, we inherited a situation where russia was running all over the united states. the last few days have been more heat than light. this administration is strong and supporting the ukrainians, making sure we protect against russian expansion in other parts of the world and we all recognize that threat is real and donald trump has been strong protecting america for russian aggression. dagen: foreign affairs and national security analyst wally
ferris. how should they handle vladimir putin going forward particularly with the summit in dc in the fall? >> in terms of foreign policy as the secretary said a minute ago, we are tough, the united states doing more than the previous administration with regard to russian expansion, helping the ukrainians, intervening in syria and sanctions. the question is what to do about russia at home and the public is lost here, not distinguishing between influence and meddling and intervening through cyber, all branches of government need to inform the citizens as to what it is and one more thing, legally speaking, any action against our laws should be addressed. politically speaking how to respond, should deal with that.
dagen: realistic areas of cooperation with russia. if you look at its meddling on the world stage and it's in the various acts far and wide, they are our adversary. >> during elections, and in the 19th century. our relationship with russia is complex and on the one hand we need to continue to contain them until they change course. and responsible internationally, we both have huge nuclear capacity. we can talk on the security council of the united nations and terrorists and cyber security. not sure about cyber security at this time but plenty of areas we can and have to cooperate for the sake of the planet in general. dagen: this is something i
mentioned in general. this week there was a microsoft executive at the aspen security forum, russia has tried to disrupt the 2018 midterm elections, the company is working with the us government, there were hacking attempts by russia on three different candidate so there is that evidence that this country with the help of private companies like microsoft, trying to get on top of this, stay on top of it. >> if you look at the history of russian meddling or russian -- since 2008 almost ten years they do so, we need to contain that but at the same time being able to work together on security issues, you need to respond to this challenge. dagen: both the new yorker and
time magazine out with inflammatory covers targeting donald trump with the new yorker showing the commander-in-chief face down possibly hurt and the time pamphlet from yesterday blending the faces of trump and vladimir putin. what are your thoughts? this is how extreme the reaction is from some on the left. >> we are in a divided political reality. i don't call it mainstream anymore, the opposition is taking the offensive, forcing to change politics or quit, to resign. that is what they are trying to do and we see this in many other countries. this is not giving the public the -- they say this is about russia, what would you do? what is your alternative? the public could make a
distinction. dagen: you just mentioned russia and the united states are responsible. moscow has the right to interrogate several officials along with bill browder who is behind the minsky act. >> if you opened that path god knows where we end up and ask for more and more. russia is here and doing the same. indictments or interrogation takes us to a different place. dagen: we did hear from the white house, that donald trump opposes vladimir putin's request for current and former representatives in the united states. the senate took steps voting unanimously against turning over us officials to russia. that is a bipartisan friends, a united front. thank you, great to see you as
always. tesla taking another hit. one analyst says 20% of model 3 orders have been canceled. leaving on a jet pack, you can fly like iron man if you can afford it. how much this is going for next. ♪ tions like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day.
trump's singling out rival pfizer over its price increases and prompting them to suspend its price increases. merck says it won't increase the price of its medication because of inflation, shares of merck up 11% on the year. investors tapping the brakes on tesla shares after an analyst downgraded its stock, shares dropping 3% yesterday before rebounding into the close. nearly 25% of the orders for tesla's model 3 have been canceled and forecast lower sales for other models knowing the electric car company is getting crowded in that field. shares of tesla recovering. iron man halloween costume got a lot more realistic. this iron man style jet suit is going on sale, running on jet fuel or diesel and a record of 32 mph. it can go 12,000 feet high, and you need tony stark money to afford it. it will cost you a cool $430,000.
is that a mortgage? >> the media, home price comes -- >> who wants to stay here on earth and put that pack on themselves? >> you save on your commute. dagen: i would be happy with a jet ski. >> we can make that happen. dagen: thank you. that is our bet. he owes me a jet ski like i have anywhere to put it. in case you missed it, here is the top moment from the show starting with answers on tax cuts. you are in track for september. >> we are so, we had a great meeting with the president yesterday getting on the same page on what we see for 2.0 and the timetable so we expect to begin concessions with house
republicans on 2.0, it will be a focused package. the centerpiece is permanence. that is growth, 1 million new jobs. >> the voices out of washington are all good. we went fair trade between countries to expand on digital, that is going to increase, computing is getting embedded in the real world. dagen: stocks underperforming recently. what is your take on the earnings? >> go downstream a little further, look at the mid-cap, they are hitting the ball out of the park. >> with this executive order would do with the national workforce counsel that is a part of it is going to bring attention to the value. we are having the country for technical schools. >> vladimir putin is a classic kgb bully. americans make a mistake and donald trump made this mistake of thinking the way to improve relations with someone like
that is to be nice to them. they just interpret that as weakness. >> texas is producing and it is going to be a big producer. i saw something the other day, the third-largest producer in the world. >> communities are hit very hard by illegal immigration. you can't even have an intellectual discussion about the budget, the debt, the deficit, the cost of healthcare without talking about illegal immigration. >> i wanted to impart all the things that helps me be successful, things that are solid like recruiting your own special forces. >> i start with that and you and i know this because we are strong women and we know we clutch for people in our lives, we have to demand that for the people in our lives to be there for us too. >> i grew up in a family where there was an expectation of leadership and greatness and i was exposed to it through my dad. >> the constitution says you
have to be a certain age and have to be a citizen to run for congress and the only thing is you have to inhabit at the state at the time your elected, this woman is from new jersey. she wants to run for congress. >> soymilk may need a new name. the fda is considering banning the word milk in descriptions of non-dairy products. >> the stories crazy. wasting resources from a government organization. this is the definition of government waste because there is no harm coming from a patient consuming milk that is almond milk because they thought it may have come from a cow. there is no confusion. >> the census bureau out with the shocking report that men and women lie about their salaries when the woman is the breadwinner of the household. >> why do women lie? >> they don't want their husbands to feel bad. >> i would love it. my father passed this truck down to me,
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dagen: with a stronger job market, the shocking story, growing number of americans ghostsing their jobs, jerry willis has details on this. >> this sounds very millennial to me. dagen: before your thin-skinned get chafed. >> there is no chasing -- >> annex is applauding you. >> the signal of a strong jobs market, candidates blowing off schedule job interviews, accepting offers but not showing up and vanishing from existing positions without giving notice. one executive said you are seeing job candidates with more options, definitely influencing their behavior. with may unemployment rate near an 18 year low up 3.8% there
were more job openings than unemployed people for the second month in the past two decades. the proportion of workers who quit jobs to take another one hit its highest level in 17 years, 2.4%. ghosting was not unusual in lower paying fields, employment expert say it is happening after 20% of white-collar workers in industries like construction and manufacturing simply not showing up and that is where this is going on. for businesses no-show means wasted costs because employers have to pay those thousand dollars anyway to hire folks. i will turn it over to you guys. >> have any of you ever been ghosted or ghosted somebody? >> it is more realistic on a date. >> we are not millennials. >> i have been ghosted. in gen x it is called being stood up. >> it happens.
>> it is easier to happen nowadays digital, people just whatever. here is the big issue with the job. >> is a dating oryza jobs? what are we talking about? >> the job market. >> the millennial thing they can't keep their mind on one topic. >> are we getting gave up on? we are trying to make everybody relate to the topic. >> i need my safe space now. i have been triggered. vote for socialist now. everyone will feel it. >> i am feeling it. >> getting back to the jobs, companies when they get ghosted the issue with they can't fire that person because it takes so long and so costly to hire a new person they just reprimand so ghosting -- dagen: are you saying if somebody doesn't show up for work on their first day or even
one day, the first week on the company won't 5 him, don't worry about it? >> my wife worked in a space that people would ghost widget started two years ago and employers are having a hard time because if the person apologizes and comes up with an excuse they may let them try again. dagen: guess who but gets fired when the business gets bad. >> a long game. >> it is not all millennials, thank you for making me laugh. taking a knee while the nfl and players put in some reinforcement rules on hold, next hour on "mornings with maria". ♪ too hot to work? nah. this is the gator xuv835. with game-changing heat and air, it's never too anything for anything. when it might be time to buy or sell?
dagen: i am dagen mcdowell for maria bartiromo friday, whoa! july 20 top stories 8:00 a.m. eastern. >> a new tariff warning, president trump says he is ready to slap tariffs on all goods, that we import from china. about a half trillion dollars every year. the growing concern. ahead. checking market action ahead of the open 71-point loss on dow futures off the lows of the morning, following a triple digit loss on blue chips yesterday. in fact, all major market gages finished lower. the dow s&p and nasdaq, the final sector hit dow after weak results from travelers american express in europe selling to report picking up
steam biggest loser germany dax down two-thirds of a percent. in asia overnight, markets mostly higher, the only loser nikkei in japan, down almost .3%, earnings in focus, general electric posting better better results on top and bottom line the company backing its four year profit outlook. >> extreme weather, ripping across the midwest wild winds in missouri causing a deadly accident a tour boat capsized. >> -- came, started again in the morning, family of 11 -- confirmed fatalities of seven transported only one had serious injuries the rest were moderate injuries. dagen: those killed in the accident include children. >> tornados, flatten parts of iowa 10 people dieted twitter devastated homes overturned cars the very latest.
the nfl taking a knee legislate spending national anthem protester policy miami will do fins said would take players out of the game backlash this hour, facebook moving biomovie business purchase tickets through the social network all that so much more this morning, fox business network christina, benchmark managing partner kevin kelley fox business network adam shapiro a pleasure spending the morning with you all we're not picking on you that made me laugh about -- >> they may not know what we're talking about. >> it -- millennials that is all, millennials catching heat. >> speaking of catching heat ge, is started to sell off a little bit, you know, actually popped because power business and maneuverable weighed on profits we mentioned before coming out, so you can see 3/10 sorry two-thirds of a
percent, but honeywell came out, killed it did absolutely well aerospace firing all cylinders up almost 3 1/2% premarket now 3% premarket you have a a tale of two conglamrats one a great management the other one trying to figure it out. dagen: top story because hits all businesses, president trump says he is prepared to slap tariffs on all 505 billion dollars worth of chinese goods that we import into united states, every year. >> every single dollar of -- of goods that we import, then german chancellor angela merkel speaking out on trade, warning that auto tariffs, may go against world trade organizations rules, joining us washington examiner chief political correspondent fox news contributor a are personal favorite byron york, what do you make of this? again, the rhetoric certainly
escalating. >> seems designed to first of all, kind of classic trump big talk but seems designed to get congress into this at some point you've had a number of republicans in congress saying they oppose this sort of thing we have had orrin hat of senior republican not running for reelection this year by the way, say something perhaps needs to be done about this, hat of otherwise big supporter of the president. i think you have to watch some point, if you keep hearing talk like this, congress actually do scomlooig people argued this is and you -- you have as well that this is the president ebb negotiating that ultimately, he wants trade deals where all trade barriers fall away that is yes points to europe and they have a 10% tariff on our auto sxorts into europe although we have a 25% tariff on i am ports like
trucks into this country he talks about dropping all trade barriers, when are we going to see evidence of that when are we going to get a sense of the negotiations taking place not just a tlaest tristedz its is tariffs on washing machines washer and dryer prices up 20% steel, aluminum tariffs causing choose in supply chains for even small manufacturers in the united states when are we going to see deals tick shape. >> we know if president did to zero tariff idea at g7, in canada didn't go anywhere. we don't know what else he is doing on that, but i have to think that some foreign countries are also factoring this trump exaggeration factor into dealings with united states story from campaign donald trump goes to new hampshire before new hampshire primary at a meeting man
stands up says i think there needs to be more compromise in government if you are elected president could you compromise with political opponents donald trump says compromise is not a dirty word to me totally fine with me let me tell you when you compromise you first ask for three times what you want, and then when you get what you want you can compromise. dagen: well said, i want to move on to white house, inviting president of russia vladimir putin to d.c. this fall this comes after secretary of state mike pompeo told fox news the president is relentless against russia. your response to that? again, it kwo go really well for the white house, and could be a devastaisaster you don't k. >> on president policies towards russia the administration at large policies toward russia i don't think there is any doubt that president has been quite tough on russia much tougher have an this is predecessor barack obama in terms of giving
weapons to ukraine, forcing nato to spend more on defense, more sanctions, throwing -- throwing russians out of the country, targeting, oligarchs super wealthy russians he has done a lot on that but as far as what is going on now rhetorical war, the well have a idea of having putin over for another meeting we just had one, i find it a little bit inexplicable no problem with trump meeting with putin, for -- in helsinki for the first time, that was a meeting i think that needed to take place. but now it almost appears that trump wants to do over maybe mess it up first time let's do another one looking forward to that instead of backward to what has just happened, and we don't even know what was accomplished if anything at the first one. dagen: we can be sure about one thing there won't be a meeting between trump and put win nobody else present other
than the interpreters, that was that was bad idea to begin with. it is not unusual for presidents or state leaders to have one-on-one conversations but given the fact this really this meeting didn't have agenda they are weren't meeting to basically approve a treaty or agreement had already been made given that it was kind of an agenda free meeting, probably would have been better off to a couple of top u.s. officials in there. dagen: yeah, a meeting that wasn't really necessary with anti-american murderedous goon only wants to but will yu the entire world. >> to have officials that donald trump has chosen and trufrts like mike pompeo john bolton in the room at the time. dagen: right i want to move to this because again, the reaction to what happened, in helsinki, has just -- the left
went berserk that individual on some other network comparing saying that that -- that gap will live in infamy the pay pearl harbor and nazi germany chris nat will judge jean appeared to cigarette whoopi suffered from trump derange meant syndrome. >> here when is what happened. >> to be here end murdering the children of americans. >> president of the united states to beat the hell out of -- >> it went on after jeanine left this is this is public knowledge, now, but what happensy goldberg screaming at jeanine piro expletive you get
out of the building whoopi was not up about the suggestion of trump derange meant syndrome showed the audience what trump did he range meant syndrome is like in her reaction. >> one symptom is the denial that you have that, we saw that over the top reaction, most recently to the trump-putin affair is something helps the president defers if you look at some of the people defended the president most focusing on some crazy things, that trump's adversaries had been saying chshgs do make trump look quite rationale in comparison so this is something where people on the left just shoot themselves in the foot, by the way, to the consternation of democrats trying to defeat republican
opponents in this year's midterms. >> i am seeing this from a different point of view you are looking at our next fox calling it trump derange meant syndrome other networks applauding her you saw audience react to what a polarization right there two different point of views resting basis on both networks the moment they came on set you could tell whoopi was not having it looking at card didn't really care i am not trying saying what she did was correct at all i am trying to persistent occupant how both viewing it completely differently, from our network versus other networks. >> to that point, again that is actually that kind of coldness that chillness even hostility if you are a conservative in a blue state or a blue city, and people know that you are a conservative people recognize the fact that, you know, i worker for fox news have for
15 years, that is actually how you get treated if not worse. >> well, for example here in district of columbia i think 4% voters voted for donald trump not sure where they are but 4% did vote for donald trump, and you are right there is this there is a sense in blue areas, that everybody feels this way, and so i would imagine would be stunned if they saw that somebody felt differently but on this idea of trump derange meant syndrome extreme statements we have scene look at polls, if you have some part of the democratic base half a quarter of it that is in full-blown trump derange meant o syndrome that is a lot of people you can make money broadcasting to them that is definitely part of the market these are voters who are highly motivated. and their vote counts jump as much as anybody else's, and i wouldn't be surprised, to see canada trying to make sure
they get out to the polls. >> president trump still has strong support in this country, does he not byron? even if you look at recent polls that he will get a majority of voters support and the democrats need something to get people to the polls because they haveh they have legislator turnout than republicans midterm elections. >> we have seen kind of up and down on whether this blue wave that is rumored to be coming in november exists or not, i think there is something about trump polls though that you need to remember, remember that donald trump was elected on a day in which his personal disapproval rating was 60%, and his polls now i didn't check this morning but in real politics average of polls he has been low 40s i think with trump we see a situation in which people express permanent disapproval still approve on what he is doing his
performance. >> you are terrific to talk to as always have a good weekend vacation horror tourist both cap sizes sinks at least 11 people latest nextg ge beating quarterly earnings revenue estimates we break down those numbers ahead. ♪ ♪ the employee of the year, anna. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.
kristallnacht. dagen: two more bodies found in missouri following that accident, susan li las details. reporter: at alleviate 13 people drowned when boat capsized in rough waters 31 on a board at the time washinging to find six missing, officials say boat sunk to bottom of a lake powerful thunderstorms rolled in ntsb is investigating why the boat was out in such rough waters in the first place, the popularity of duck boats waned after string of zepz leaving industry reeling advocates have sflised on adoption of new safety measures residents in iowa cleaning up what is left of homes after a series of tornados, touched down, twisters flattening builds flipping over cars, in three cities forecasters say they
formed suddenly took them by in spite of one tornado hitting a manufacturing plant scatters sheets of metal people working inside. the inspiration behind an iconic movie has died. >> good morning vietnam! >> can't forget that, drawn out good morning vietnam memory morelived on big screen inspired film by same name deejay, on arms forces radio in 1965 he was 89 years old. >> ge latest numbers ge reported adjusted profit 19 cents revenue over 30 billion dollars gains in aviation health care sectors offsetting a drop in power business, ge higher in premarket, and the shares of microsoft are on track to hit an all-time high at the opening bell this
morning, this is after the company big earnings be the yesterday after the close microsoft making more money last quarter than wall street had anticipated, cloud business soaring sales of 365 software, tablets gaming products on a tear the valuable company in u.s. globally. >> microsoft, speak. >> microsoft, doing well we should see profit go up commercial cloud business 53% good for microsoft expanded growth margin 6% in that space 58% on cloud only 5% i.t. projects going to cloud can grow core cloudy 60-billion-dollar a year industry, that is 50% growth this year wait to see what happens next year, nadella will be on maria's wall street tonight fox business.
dagen: you are killing it killing it. he didn't know i was going to compliment, by the way, important people who scream hate if i point at you not necessarily bad i only point at you if i really like you coming up future 3-d. >> allowing firearm blue prints online facebook into box office business social media partnership with amc theatres that is ahead. ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross,
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dagen: a legal victory for some gun advocates after battles 3-d gun printing advocacy firm defense distributed won right to post plans for 3-d printable guns starting august 1 joining us the cyberguy gun control advocate against this motive d prienting isn't that wrr fill us in. >> good morning to you right now there is you can double a r15, plans and print an ar-15 on 3-d printer how that is possible it is. there are plastics that are out there that can with stand the kind of force a gun he metz and those plans are back up online, so for gun advocacy, and those interested in the second amendment a huge win, and for those concerned about security, from terrorists criminals for kids could print out 3-d all you
need inexpensive 3-d printer office supply that sell compound you put in printer you have a gun. . where we are right now in this country we don't have laws yet that are in place that really address how we should handle this, because that is a few years ago, this was a pipe dream of something in a sci-fi movie, but as of like 2013 on this is a reality, and become less expensive to get 3-d printer more wild accessible materials to put in a 3-d printer to make just about anything. dagen: how do you think it progresses don't up think there will end up being more legal battles over this. >> you have people see this as gun control issue what i think we should be doing see a concerted effort from our legislators, on a federal level to say, all right, how do we handle how do we -- because there already are gun laws on how we manufacturer guns certain ways you can manufacturer a gun you shouldn't manufacturer a certain way, so we already
have that they need to get an update refresh to that, and take gun control out of it. dagen: speaking of the government senate legislation, that is looking to bring emergency alerts into the 21st century and streaming bill aims to get emergency -- on tv to be broadcast through netflix hulu amazon what do you make of this have will it work. >> you know who is you listened behind it two senators one from south dakota and hawaii the system panicked the entire state of tourists residents there when alert system they weren't able to undo it turn off this alert it was an oopsy huge oopsy what this aims to do is update the emergency the alert system that broadcasts through television radio hitting
streaming seniors netflix spotify hule that you mentioned so if doubling, binge-watching would appear on that device there is debate inside of this criticism that it contains this measure would prevent me from the disabling amber alerts government alerts i have control over on phone they like us to not have the ability to control those messages chimping i -- i don't like government telling me what to do i can't stand it when the amber alert comes up some stupid car that is three states over that i wish i could help but i just have nothing to do with it scares bejesus with me when it went off. >> you couldn't stop on tv so it is on phone happens on tv whether you like it or not. >> i'm actively watching it is specific to me a tornado coming on here just i am not ready for it, used your phone
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dagen: i'm dagen mcdowell for maria bartiromo. friday, july 20 your top stories 8:30 a.m. eastern a trade war with china on the horizon? president trump announcing that he is willing to put tariffs on all the goods that we import from china into the united states every year. more than half a trillion dollars worth of products. we have already heard pushback to forgives from members of the president's own party on capitol hill. >> the tariff idea is ridiculous i mean ridiculous, going to cost americans jobs going to tax americans. >> did hes pro rata--
>> desperately hope we get off this. >> futures showing this a hundred-point loss on dow futures s&p in red 100 futures up slightly, yesterday, in the united states we had losses across the board. check out europe, we have selling, across the board. the dax and germany down nearly 1% the moment. in asia overnight, markets there mostly higher nikkei taking a hit over stability worries in the region, honeywell popping out of the open as company reported better-than-expected quarterly profits up 3, 2 1/2% almost 3% earlier kevin kelley telling you about that vs corp gaining more than 4% beating estimates this morning, the company behind -- angler jeannes could set a high. >> nfl stacking national them policy for now, miami dolphins
warped players could face suspension. >> buying from the social media site going to know what movied you amovies yours going see president tweeting deutsch similar these to families and friends of those involved in that terrible boat accident just took place in missouri, such a tragedy such a great loss may god be with you all. >> topping our news this half hour, regulation rollback environment protection agency the trump administration, is cutting the red tape for the d disposal spent fuel. >> 28 to 31 million dollars a year in regulatory costs one of the many obama era rules that our next guest wants to see gone. joining is now president and ceo bob murray. >> why important to make this
change now bob? >> good morning, dagen, it is very important, to make these changes right now, because donald trump recognitions the need for coal-fired electricity in america to hold down cost provide reliability in power supplies also cares about working people and our coal miners. he has not been able however to carry out all the needed programs, significantly as a result of a january vote against him, and against energy secretary rick perry by feckless appointees to federal energy regulatory commission it will is very important that coal survive these plant closures and that at least 30% of electricity and electric power goods come from coal for reliability and cost. dagen: you have been involved in shaping the president's energy policies as you were pointing out you think that
the president this administration, still falling short can you talk more about that what else needs to happen what when regulations need to go -- >> well, let me give you an illustration of the problem we have in america today. coal-fired electricity power planters being closed in large rate we have to stop that, alarming rate we have to stop that what he has to do these result in very bad kwepgs dagen for america's consumers with closing electric power grids become unreliable insecure illustrated in a cold snap at the beginning of this year. where coal supplied 57% of the power, natural gas only 15% because it was not available at the time. some utilities often claim that closing coal-fired plants will lead to lower costs electricity but this is simply not true.
a study just shown by energy ventures analysis prestigious firm dagen, that the premature retirement will cost 15 times more than continuing to operate them. they took three plants and interconnection did the study. it will cost two billion dollars per year. to retire three plants. it will only cost 130 million dollars a year to keep them operating. this is just one microcosm of plants, by the way, replacing them with natural gas will cost electricity rate payers 5.7 billion dollars. so these cool fired plants your viewer your -- couple on fixed income, manufacturers that need low cost electricity, they must keep at least 30% coal generation in this country or electricity rates are going to skyrocket
and that is exactly what the president understands he gets it, and trying to address it, but, unfortunately, the federal energy regulatory commission has not recognized that you can't store sunshine other wind at a power plant, or natural gas either. >> mr. murray this is adam shapiro, ied a mire coal workers i had honor going to a coal mine in kentucky a year and a half a ago two years ago the fact we have not built a new coal-fired electricity plant in what is it over 20 years newer testimonies are bringing down the cost electricity has not skyrocketed natural gas is cheaper so -- >> you are wrong, mr. shapiro the cost of electricity from coal-fired plant 4 cents a kilowatt hour. over last 10 years has been 15 cents a kilowatt hour. >> natural gas comprehensive with coal not entire kin
windmill solar panel mr. shapiro 20 cents kilowatt hour another study shows 50% cheaper to keep coal-fired plants operating for consumer of electricity than to close them the numbers sir 4 cents -- 40 dollars i'm seeing kilowatt hour versus 80 dollars kilowatt hours. >> utilities have not built coal-fired plants. >> they haven't because they want to be politically correct. as long as they can pass the cost of this higher cost gas generation other renewable generation on to the rate pair they are going to continue to do that they like to be politically correct. but it is not in best interests in my judgment, and based on these studies of ratepayers who pay electric bills those couples on fixed income paying 31% of income right now for energy, that is
gas lien and electric far too high. >> good toyou for bringing it a bob murray with us there is a scary situation in manatee river florida, you are looking at live pictures of a semitruck dangling off the side of a bridge still unclear what caused the accident. but local reports do say that the driver is okay. i wish we could pull out these are pictures coming in from wtvt, in florida, manatee river you can see you can see trying to pull the -- the bed of this truck back and get the cab the cab of the truck is dangling over the edge of this bridge we will bring you more and monitor this situation, as it develops approximately microsoft gearing up to hit an all-time high this morning, as the stock opened for trading
big earnings beat yesterday stuart varney will weigh in, and nfl stands down on its national an them policy the latest developments as league works towards a resolution with the players union that is ahead. ♪ ♪ where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com your insurance rates a scratch so smallr today. you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. ♪ liberty. liberty. liberty. liberty. ♪
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♪i need never get old dagen: welcome back shares of microsoft on track to hit all-time high at the opening bell the big earnings beat last night, joining me now host of "varney & company" stuart varney, i love it when you talk stocks. >> well -- look, it is -- i always say whatever i mention microsoft yes, i do own it. i own a little thin sliver of microsoft, as you can see, from left-hand side i am a happy guy this morning, this thing is going to hit all-time high 107, 108, to me this is not so much a financial story about microsoft it is a
turnaround story i think microsoft is turnaround story of the decade. angered more perhaps. i's microsoft first, years ago. won right very beginning of this century 15, 16 years ago was buying in about 20 to 30 dollars per share, i bought it then because i considered that time microsoft was a utility, i think could i just milk it for a few percentage points of dividend would be safe for the next about 20 odd years little did i know that when satya took over a few years ago would completely turn the company around. and make it not the old world technology giant but the new world growth technology company that rivals amazon or apple or even google i didn't know that was going to happen you the about it did happen that to me is basic of microsoft that is why it is so important. what a turnaround, it just
extraordinary to me, i am very glad that it happened. dagen: it is a nice warning about believing conventional wisdom because conventional wisdom was a dinosaur, you know going the way of ibm ibm existences not the way it once did that is not happening again -- acquisitions like linked in, the control of the cloud, pretty nfbl. >> i nevfbl. >> i added to it observer the years because seemed like going places, and as of today, it is. >> it is stuart i love it when you talk about stocks, make it sound -- so fascinateing with that accent. >> stop it, we will see you in 15 minutes, sir, "varney & company" every day, 9:00 a.m. three hours of stuart, monday through friday, shares of honeywell up this morning, after beating earnings estimates nicole petallides on the floor of the new york stock exchange with more. >> hey. good morning dagen going to
continue that trend good earnings, all right not the likes of microsoft but seeing honeywell to the upside today, we saw the profit and revenue beaten with numbers this is moving the stock up 2 1/2% analysts looking at close talk about global travel better economy demand for defense all kinds of parts pertaining to defense winner seeing up 2 1/2% the other thing also, was e-commerce moving supply getting it out so that helped as well then facebook, a lot of people use facebook to find what remove they want to see may go and use "fandango". >> now facebook is teaming up with amc customers can get movie do purchase explore it go to movie tab do that i will tell you that facebook also got a couple upgrades from both piper jaffrey and
nicholas you can see here this is a big deal for amc, and facebook to do exactly this, also, it is very interesting timing to do this because i was looking up tickets sales and what i am 2017 had world records for sales for movies in fact in u.s., canada dipped 6% that trend is continuing i know how many movies you see i have not been able to get to movies much the trend downside maybe this will help get people in theatres u.s. and canada billing back a little bit but we did have up arrows for facebook today back to you. dagen: thank you. coming up nfl suspending national anthem policy the latest developments as league now has to work towards a resolution with the players union, and cleveland browns getting to work at the paper company more of team's hilarious office parody ahead ♪ ♪ come along if you feel -- ♪
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>> welcome back president trump tweeting on currencies interest rates moments ago china european union others have been manipulating their occurrences interest rates lower u.s. raising rates dollar gets stronger and stronger with each day taking away our big competitive angling, as usual, not a level-playing field after the president commented about the federal reserve, a little unusual in more than history for the president to talk openly about federal reserve policy maybe trying to influence it, who knows we will see the fallout, the we have currency there are a weaker on nice.
>> is tiger woods back for real at british open sports. >> good morning reality for tiger 2018 helter-skelter like scoring this open championship no different, yesterday tiger woods birdied first 2 under front line finished with 71 even par. best opening round scored any major for tiger in four years but day up and down three birdies three bogges even par, americans zach johnson the other it up 67, 4 under for number about to good for score of mines 6 through two rounds, one shot in front nobody played better than tommy fleetwood mac daddy keeps dreams on claret jug shot 65, 6 under first round leader american 5 under rory mcelroy 69, 4 under two shots back. >> nfl placed national anthem policy on hold players association has iced
grievances over the policy last night hours after miami dolphins issued team policy that stated players who kneel on field during anthem this season would be subject to suspensions and/or fines league and players association released a joint statement in part reads nfl and players association have been working on a resolution to the issue in order to allow constructive dialogue to continue standstill agreement on grievance and anthem policy no new rules relating to anthem issued or enforced for several weeks while confidential discussions are ongoing. our shared focus remain finding a solution to the issue through mutual good faith commitments outside of litigation. >> anyone a fan of tv show office cleveland broinz are tweeted a parody ♪
♪ ♪ . >> there you have it browns featured on hbo hard next behind scenes in 16 -- >> having fun. >> i do watch that, i do watch that show i am kind of obsessed with it would you like the cleveland broinz working at -- >> british version or american version. dagen: both. >> a trick question? >> thank you so much. jared max sports report the reason i have phone up is because guess who is tweeting -- guess who is tweeting president -- >> a golfer? >> thank you. >> president finished the tweet that i read moments ago on currency start from the beginning china european union and others have been manipulating their kirns interest rates lower while u.s. is raising rates while dollar gets stronger stronger with each passing day taking away our big competitive edge as usually not level-playing field should united states should not be paying a lot because we are doing so well
this hurts all that we've done u.s. should be allowed to recapture what was las lost due to illegal currency manipulation bad trade deals debt coming due we are raising rates. really? so again, this is on top of president trump saying in interview that he is not happy about federal reserve interest rate increases kind of ratchets criticism up a notch kevin kelley very, very tricky dangerous territory president is walking into night is a tricky situation especially because came out that 60% of participants in the fed funds futures rate anticipate four hikes this year two more priming, that would really hurt -- you know, the president thesis big problems he needs to understand, that every country is going to operate in their best interests, and they are going to protect those interests, whether it is through trade tariffs protectionist policies. >> let me just point something out to the feds raised
interest rates two times two more expected because the economy is doing well, we still have incredibly low near crisis level interest rates in the united states so doing it because economy is doing well, and historically when presidents have put the hammer down and pressured federal reserve it wound up being a disaster, in terms of runaway inflation. in the united states, whether you look at martin johnson administration, jon hilsenrath talking about, martin a finger in the chest burns, by nixon administration pressure to continue easy money policies, it damaged the country. >> president also opened himself to up attack by critics whenever he criticized janet yellen for a low interest rate policy the other thing we touched upon the need to refinance corporate debt, because interest rates are going up corporations are going to face a big -- >> i just want to -- >> because that leads to
better pushing power for americans. >> but 1 wffled on that. >> the it will exert independence, the people onboard so far three nominations president has need to get approved makes him more strident if you want them to back off don't tell them to do that again, asserting independence they will continue raising interest rates, we will be right back. ♪ ♪ dancing ♪ like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day.
no? whew. dagen: thanks, all. christina's on gutfeld this weekend, i promised to mention it. varney, take it away. stuart: microsoft clearly the stock of the day, it's going straight up. we'll get to the football numbers later -- financial numbs later, but microsoft is a remarkable turn-around story. in a couple of years it's gone from a declining giant to a sharp-edged growth stock. it is worth $800 billion and still growing. take a look at ge, a giant for generations but now in abject decline. its financial report just released, the new chief has a turn-around man but weakness in power, renewable energy, that