tv Mornings With Maria Bartiromo FOX Business October 17, 2019 6:00am-9:00am EDT
congressman house oversight committee chairman elijah cummings is dead at the age of 68, passed away of john hopkins hospital from complications of lung health challenges. the draft deal has been made on brexit, uk prime minister boris johnson reached deal with eu negotiators and urging parliament to agree with it, markets spiking on the news. up 114 points on the dow, s&p futures are up 12 and nasdaq futures up 38 and a quarter. breaking news as well, maryland, congressman elijah cummings has passed away, the office releasing moments ago, at 2:35 a.m. on thursday october 17th, 2019 congressman elijahee. cummings passed away at john hopkins hospital, more
details will be forthcoming, elijah represented maryland's seventh congressional district since 1996. he was just 68 year's old. we are getting news from europe, britain and eu reached brexit dale, boris johnson tweeted moment ago, we have a great new deal, parliament should get brexit down on saturday so we can move onto other priorities, nhs, violent crime and environment. boris johnson wrote this morning. fox business dagen mcdowell, national security's corporation chief market strategist art hogan and fox business' dierdre bolton, great to see, everybody. what a morning, your reaction to the news this morning? >> european committee president has posted something, where
there's a deal, there's a way, we have one, it is a testament to our commitment to find solutions, so that is very magnanimous. maria: looks like brexit is happening. >> something that we needed to hear this morning but also getting one of the biggest market impediments behind us, in large part think about how slow economy has been, you take it for granted, this is coming as a bit of a surprise. dagen: eu, 27 leaders and european union and british prime minister must approve this at summit over the next 2 days in brussels, then it goes britain's parliament which has rejected 3 times in previous deals negotiators by mr. johnson's predecessor, theresa may. this is number of hurdles but certainly god news. maria: this has got to be good
for the banks because the banks have headquarters, sitting on cash waiting to see what would happen here amid the uncertainty. dagen: pound is jumping as well. up 1% against the u.s. dollar. >> also good for tech community, tech companies, american companies that have headquarters in ireland, significant businesses in ireland, this is the irish backdrop deal, one of the bigger sticking points, both sides have come to some sort of agreement as to how to handle northern island being part of uk and southern ireland. maria: we don't have news on a deal just yet, i assume that comes soon, details there. that was what was the sticking point. >> the hardest to have hurdles to get through, the financial centers of the world, their times between asia and the united states, extremely important and in technology, so
a lot of important things that have been dragged down and long time process. >> i think they had the eu summit and then october 31st sort of appropriately halloween day, fell apart no matter what, both sides realized okay, we will do something. maria: people were thinking how is this possibly going to happen in next 2 weeks and here we have this deal. >> fingers crossed. maria: other news as well, president trump holding bipartisan meeting after the house voting overwhelming to oppose the administration's withdrawal from syria, the meeting ending with democrats walking out, house speaker nancy pelosi commented yesterday but first the president on his decision. >> syria doesn't want turkey to take its land, i can understand, but what does that have to do with the united states of america and fighting over
syria's land, are we supposed to fight a nato member so syria who is not our friend keeps their land, i don't think so. >> the meeting started by the president saying -- [inaudible] >> trying to get the answer, what is your clear plan on how we fight isis, it was very sad. >> secretary mike pompeo to arrive in turkey within the hour, we spoke to them yesterday, of course, when they were about to leave, they will be discussing the situation and we know that there's been tremendous amount of pushback from republicans, dagen, on the president's plan to withdraw out of syria. dagen: rebuke, a rebuke by republicans not only democrats in the house of the pullout from northern syria, democrats 225 to
0 but republicans also voted, the wall street journal editorial writes about this kurds 354, trump 60. but the republicans who voted 2 to 1 in favor of this rebuke, this opposition to the withdrawal from northern syria, those are republicans including minority leader kevin mccarthy, whip steve scalise and liz cheney just to name a few, again, a great pushback and i will read from another story in the wall street journal this morning that this was sudden and unexpected and quite frankly rash to put our allies, the kurds, in harm's way and basically cede power and u.s. forces have continued moving away from occupied syrian bases and they actually had to call in an apache helicopter and jet fighters to warm off turk you
shall back group to jet fighters carrying out air strikes to destroy ammunition facility and other parts of the syria headquarters of the u.s. campaign to destroy the islamic state, it also, again, potentially gives rise to islamic state which we had not destroyed but certainly defeated in the short run. maria: the pushback that i gave secretary mike pompeo yesterday because right now we are seeing reports that because the kurds are being overrun by the turks they are leaving their positions in front of those jails which are holding isis fighters. isis fighters are being let out, that one one major issue, the other major issue to push out is oil fields in syria, if you will open up oil fields to allow iranians to get in there, they're no longer on their heels, they will get revenue to continue to support isis. >> in terms of the argument that this is about bringing our troops home, well, that's not happening, the united states is sending 1800 troops to -- to
repositioning them and i think it's 1800 to saudi arabia, so it's very disturbing to not just democrats, this is a bipartisan, again, rebuke of president trump's decision. maria: yeah, i mean, the decision obviously the president has a strategy here, but we haven't lost many people in syria in 5 years, i mean, one loss is too many i recognize that but so far it's really been a support situation that the u.s. has had for the kurds, for providing armament, weaponry and being there in terms of advisory role, so this is -- we will wait to hear more from the president on this. another positive for the markets, dow industrials at the high of the morning, up 129 points, morgan stanley will be reporting third quarter numbers in an hour and a half, we will have numbers for you, stock is up 1 and a half percent. netflix posted mixed results
last night, sluggish subscriber growth and stock better than 8% right now on netflix, the streaming intensifying and people bet that the company will keep dominating, art. >> amazing financial growth continues and the biggest concern was last quarter, significantly, so this was a bit of a miss in terms of what we thought they were going to be, 6.8, but all of that came internationally, the headwinds that it is about, double digits, so when you think about the percentage drop, has everything to do with this coming and apple is coming in the same day, streaming product. difficult and complicated space. the problem is where does the growth come? >> i think telegraph it's not domestic and why the stock didn't move after hours because they haven't said domestic is
going to be disappointing but they more or less telegraphed that, more than 100 companies. >> i don't think that you had any idea once the disney product is available, i'm not talking about just disney plus where you get films, hulu, espn at the same price that netflix cost, that's a value proposition and disney has so much money, they will be advertising, advertising. maria: i have a hard time netflix will beat disney. >> the list came out, 650 available. maria: exactly, we will talk with barry dillard and he made his bets on who is doing best. the breaking news of the morning is the death of elijah cummings, griff jenkins with more on what happened to cummings who passed
away, griff, over to you. >> sad news we are waking up to capitol hill, cummings was a picture, powerful chairman and served as representative for maryland seventh congressional district since 1996. statement from his office that broke the news, at 2:45 a.m. on thursday october 17th, congressman cummings passed away at john hopkins due to complications concerning long-standing health challenges, many r details will be forthcoming and we will try and head that way and find out more, remember cummings out of congress, maria, for the last month due to medical procedures, he was born and raised in baltimore and the city he dearly loved, obtained bachelor's degree and graduated from the university of maryland law school, he was expect today return to his office this week, obviously will not, career in the house of delegates in maryland, cummings was, of course, key figure in
impeachment inquiry and most recently feuded with president trump over the conditions in baltimore where this morning baltimore residents are pouring their hearts out in condolences, among them tweeting that their prayers go out to the family because he generously shared god-giving talent with the people of the city, leaves behind wife, mia and 3 children, chairman cummings was 68 year's old, maria. maria: condolences to mia cummings and the family, almost a done deal, united auto workers reaching agreement with general motors, live to detroit, we have those details coming up. saved in the nick of time, police officer being held a hero pulling driver out of a car as train barreled toward them, more of the incredible footage when we come back, stay with us.
my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2.
stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. side effects include nausea, diarrhea, vomiting, belly pain and decreased appetite, which lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about trulicity.
maria: welcome back after morn a month on picket lines striking gm workers may soon be back on the job, outside of gm headquarters in detroit with the very latest, good morning. >> good morning, maria, unexpected developments local union leaders are expected to meet here in the headquarters in a few hours to vote in favor of this tentative agreement while the official details are still unknown, we are expected to see wage increases for workers as well as signing bonus and other details expected in the contract once released this morning, plans for one gm plant, the plant is a few miles from here, it was going to be idled by general motors at the beginning of next year, now we are told it would remain open with new product line and electric pickup truck, also path for temporary workers to full-time employment and health insurance coverage which has been important for all of the workers we've talked to,
that will remain unchanged, the picketers, however, remain on picket line, they haven't gone back to work just yet, they are waiting to see the details of the contract until they decide to go back to work and they will be looking closely at it before they agree to approve it after local union leaders do. i do want to bring up one plant, maria, that has been very important throughout this election season, the lord'stown, ohio plant, gm drew the ire of the president when they announced they were closing earlier this year, that plant will remain close and general motors will build a second battery plant in ohio somewhere, we have to wait on the official details but at least some jobs could be spared in ohio because of the tentative agreement, maria. maria: thank you n detroit this morning, take a break, futures are jumping this morning after boris johnson's brexit announcement. all the details, what else is moving markets today?
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happen that takes one of the pieces of uncertainty, yeah, we are not out of the woods economically, you know, i see in the past months we have been tug of war where we get one or two pieces of news followed by bad news, this is god news but i still think it's going to be a long struggle with the economy. maria: what do you think? >> the u.s. trade war that's slowing things down, uncertainty over that, it's gotten better this month? >> i think it's the trade war, uncertainty and you have the consumer which is trouble, you have a lot of individuals out there thinking we will end up in a recession and the more people we think will end up in recession will get there. >> i know the last reading was okay but the consumer has been the best part of the story? >> it has, retail sales go down yesterday. i know in talking with my clients that they are fearful that a recession could be around
the corner, that's the top of mind for them, the more that's top of mind and the more it becomes self-fulfilling prophecy. dagen: consumer among consumers doesn't trance laid and a lot of people thinking that we will get resurgence in the economy or pickup in growth next year because of the dramatic drop and longer-term interest rates which has helped with refinancing and gasoline prices are lower right now than they were a year ago. >> that's true. >> that puts money in people's pockets. >> have you ever had a recession happened and there's also the notion can we talk ourselves out of a recession, i don't think we can, the michigan consumer confidence shows how they feel, a lot of things about geopolitical issues, concerns over brexit and gm strike and
the u.s.-china trade war, seemed to be getting better and not worse and the point that i would point to is housing, if you look at the housing data that we got yesterday, that has only gotten better throughout the course of this year. >> the other thing on the positive you wouldn't see a recession, recession where there's asset bubble, i can't find asset bubble. it's not a bubble. housing is not a bubble and i think real estate in general is a bubble. [laughter] >> there's a bubble with uber. what's the best part of the market? >> i think with what's going on and you've got people exhausted on both sides, i look for more value names, stocks that i like are -- i think that's a really solid name as far as a very high dividend pay, selling at really-good value price and the price of oil declining, they are one one of the lowest cost
producers. dagen: you also have the federal reserve cutting interest rates, expected to cut again based whoop the yield curve is doing with reinversion, lower than 10-year yield, that's a signal that the market does think that the fed is going to cut again and the fed does seem to be ahead of the curve this time based on just where the weekly jobs have been. >> part of what they are looking at is weakness in foreign companies and not wanting that to be in the u.s. maria: don't forget earnings, i
know the expectations are negative performance for third quarter, so far the first week. >> i think in -- i think we will see low-single digit earnings growth, it won't be terrific but decent. maria: all right, chris, thanks for your insight. utah cop pulls driver out of the car stuck on train tracks seconds before impact of the train. dillard joins me next talking big tech, and even the china controversy, that's up next after my dvt blood clot, i wondered. could another come around the corner. or could it play out differently? i wanted to help protect myself. my doctor recommended eliquis.
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us, maria bartiromo, october 17th, a lot of breaking news this morning, draft deal has been reached on brexit, uk prime minister boris johnson has reached great new deal and urging parliament to approve it this week, eu commission president john telling member nation to back the deal, both sides saying they have a deal, futures are showing the markets close for higher opening, up 113 points, s&p futures up 11 and a half and nasdaq futures up 33 points right now. markets finished quite low yesterday, fractional move, dow industrials down 22, s&p was down 5 and nasdaq down 24, european indices higher across the board, cac quarante up 14 and dax index in germany up 74. in asia overnight, here is the situation where it was mixed, hang seng did well, two-thirds
of 1%, the others fractionally. streaming war continues, netflix getting boost in overseas subscribers and falling short on expectations, other media power houses entering the streaming field, stock is up almost 8% on netflix, coming up later this morning, morgan stanley will be out with earnings, we will have the numbers for you and take a look at any impact, the stock going into the quarterly report of one and 2 thirds percent. dramatic rescue caught on tape, a trooper risks his life to save driver from oncoming train, amazing pictures there. all the stories coming up thursday morning, top story this half an hour, netflix posting mixed results last night with sluggish subscriber growth, iac and expedia chairman last year predicted netflix would win the coming streaming wars, not changed his mind, now, new services are coming on the market every day, just one of the headlines from my exclusive
interview with dillard. is everybody catching up with netflix? >> no. maria: really? >> that does not mean that what disney is doing -- bob iger made a determination that he had to have direct engagement to the consumer and the only way through to do that is streaming. it's not like his put toes in the water, both feet, both legs, body in the water and going for completely such appealing content that i think, though, do well, will they ever get netflix's size, i can't imagine. maria: even they they have marvel, fox? >> so what. i'm not saying they are not going to get subscribers but they're not going to get to the level of netflix worldwide, it's
such a radical miracle that 6 years ago they invested what was thought to be obscene amount of money in house of cards, okay, 6 years ago, they put down $150 million which no one at the time could even conceive but their guts and really the extraordinary thing, not very well capitalized that start from streaming business and then makes such big bets that they change the entire entertainment business and change 100 year's old companies and then they've said right away we are going
worldwide so they planted the little flags in every place in the world years ago. maria: do they have to spend $13 billion a year to keep up. >> they have to spend it for a while, for sure, it's all overspending, all the money going into this is deficit money and in other words you're not going to get a return on the dollars, you're not playing for the short gain, so the thing is can you get enough subscribers over the next couple of years to be able to then actually cut back on your program expenditures, probably raise some prices too and make this come out in terms of the economics, i think that's a neat trick and i think it's doable but the thing is that the prices that have -- this competition has made a -- this is a land rush to get programming, the results of it is it used to be
that you use an hour of television, law and order, whatever, normal hour television program, maybe a million 5, $2 million, they are spending 8, 10, 12, $15 million an hour for programs, now that's kind of nuts and it'll go on until this arm's race stabilizes. maria: so you think netflix's success on house of cards, the show sin credible. i agree. best show that propelled it. >> it was. maria: i loved that show. it was that it created something that people had never seen, high-priced and really well produced and expensively produced television series that was so directly to consumers, when they saw that and already netflix had been, you know, had some some subscribers, better
way to obtain stuff. maria: do you want to acquire yelp? >> no. maria: why not? >> i don't know. well, look, if yelp, you know, i've admired what they've done but the issue and situations like that really does come down to where does it fit, does it fit next to our home service business because they do some home services and we actually -- making some -- they've had some deal but our home service to use yelp for their home service, so then it comes down to price and that has not made sense. maria: are you surprised of what's taking place there, you and i watch the internet boom and the internet buff, now you have real survivors like an amazon, are you surprised at what am done looks like today?
>> no, i'm not really surprised because early on jeff bezos' concentration on serving the consumer when no one else in arena was doing so with such consistency and because of that plus just a genius of a kind of ambition that is really wildly rare amazon, we tried to buy their bonds when they got into trouble and if it wasn't the company that owned piece of company i would have done so. i admire amazon for 20 years. >> stay on this tech space for a second because you look at google and facebook, these companies are more powerful today than you have been and that's why you see washington.
what kind of regulations? >> i don't believe breaking them up make sense, there has to be sensible regulations, when the companies get to the size that they are, then in fact, like any monopoly, they must have sensible regulation, so for google we spend expedia, we spend 3 and a half billion dollars, we probably spend 2.7, 300 billion in marketing. maria: they ant advertising but they want your customers. >> we spend multiple billions of dollars and that's fine, we spend the money and they give us customers, what we don't like them is them competing with us in our own business. so we think that's kind of wrong and we have been saying it for many years and we think that eventually this will like other things that get to excessive, you know, get excessive, this
will get taken care of by regulation, sensible regulation is mandatory, the businesses that have that level -- they are truly monopolies. >> google has 90% market share in search. >> i've always said that if you're google it's kind of wise since everybody is a search on your land to treat the search nicely because the search comes after you. maria: do you have a thought on china on what's going on between u.s. and china, what's your reaction to all of this, the nba is over here defending what -- what the general manager of houston rockets said and china is bullying them and they rollover and then -- >> you can say it was inevitable. china has been growing, china has more people than any place else, it also has a regime, they
don't have to depend upon office, they are very competitive, so we are seeing a result of them getting very strong and wanting to get stronger and they will keep doing it and push back because that kind of -- that kind of economic potential imbalance and china absolutely does believe in one man standing, we've done business in china and in tend we basically had to sell out because, in fact, in almost every industry there's only one survives, so that's our very competitive place and you will see tensions and reactions where china can say if the nba does something they don't like or somebody says something they don't like, they can simply by
decreeing it, there's no -- there's no real rule of law, so they do what they can get away with. maria: alibaba doesn't have to do the same rules even though alibaba trades in the u.s. bare, good to have you, thanks so much. >> pleasure. maria: breaking news, vice president mike pence landing moments ago in turkey, soon be joined by secretary of state mike pompeo, set to meet with turkish president erdogan to discuss potential for cease fire as the developments, we will get news this morning on the conversation, short break, weenie we come back, hailing a hero, police officer pulling driver out of a car as the train barrel toward it, more of tin credible footage coming up. we are watching for morgan stanley this morning, all the numbers as soon as they hit the tape and the impact, back in a
my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems.
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still be proved by britain's parliament which remember rejected 3 earlier proposals from former prime minister theresa may. now current prime minister boris johnson said will likely be held this saturday, british pound did rally on the news and futures moved here in this country on this breaking news. the main sticking point is to keep border open between northern ireland which is uk and ireland, part of the eu, well, varney's new york to reach deal, $270 million in cash according to court filing, this calls for all remaining barney stores to close, barney's filed for bankruptcy protection citing rent hikes as a factor. city council committee voted to
green light mayor de blasio prison. dramatic rescue, highway patrol officer in utah risked his life to pull a man off of train tracks just moments the train barreled through. >> we have a train coming, we have a train coming. we have a train coming. we have a train coming. cheryl: close call, the officer drags the unconscious driver away from the tracks seconds before the train, the officer said, quote, i was just doing my job. it is amazing what police officers do across the country, don't get caught in things like that. maria: big shout-out, on the jail story, positive op-ed
saying the rocker's island is a mess and needs to be closed down, completely different take from the new york post, closing rocker's will make u.s. city less safe, the city council must say no today, we have been talking for literally a year, feels like crime is picking up in new york already and 3 of the four jails will be in brooklyn and it's not going to have the capacity that recker's island has right now. >> this is a big story nationwide because you have large part of the far left pushing for the decriminalization, well, of crime, even simple assaults and petty larsony and one thing i will point out in new york city, the marijuana offenses started
falling in 2011 after the stop and frisk was stopped in bloomberg, but under bill de blasio the decline extended to other couples like simple assault, petty larceny, they are not arresting people for shoplifting, they are not arresting people for punching people in the head, turns out that's something else but, again, when you take an open season on merchants throughout your entire city where people can walk into a dick's sporting goods, if you will, cvs and take whatever they want and security tries to stop them and the security guards put their hands on them and they stop screaming bloody murder and the cops don't show up, it turns into anarchy and the death of my juror cities because people will not stay here.
>> the needles on the street, it's coming to new york, alexandria ocasio-cortez is backing this coalition call, new jails, new york city, she doesn't want any jail. dagen: hurts the working-class new yorker, hurts the working-class resident of all of the city because the rich can pick up and leave, they can go overseas, they can go to a no-tax state like texas but the ranking file people that take subways and defend for their lives. maria: we will be keep warning people about it, huge story, when we come back veterans helping veterans, wait till you see this story, that's up next.
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maria: welcome back, one marine helping others prepare for the future, federal employees with professionals to make sure they have security to retire and education around it, griff for 5 years served as arabic linguist and signallist intelligence analyst, thank you for your service in our country, thank you. >> when i left the marine corps i knew that i had passion to continue to serve, so when i started i wanted the ability to inspire federal workers to properly prepare for the days
when we no longer have to work and i'm very lucky to be able to do that today. maria: in terms of the transition from military life to business life, how tough is that? >> it was tough because there's so much in the marine corps that i absolutely adored and i wasn't sure that i was going to find that same passion out in the private sector and so i'm really grateful to be able to do that and apply so many of the skills that i had when i was serving our country in the military to be able to continue to serve the federal workforce today. dagen: these are financial planning tools, i was surprised that these weren't available to people of the military serving currently and who have served in the past or federal workers in general, i'm surprised it was that need there? >> it was a big surprise for me as well and i knew that i could provide the training but that was only the first step, then
what? once everyone gets the information, what do they do with it? i knew if i was going to be able to have the transportation that i was seeking for all of the people to feel like they have control over their own retirement that i had to be able to pair them with the person that could help them take the next step. >> they are coming from a very structured environment to one that's not structured. >> what's education level on this stuff? >> most of the time when folks come to training, they never experienced any training like this before, they are right at the end to have career and all of them say something of the nature i wish i would have done this 10 or 20 years ago and taken those steps to put time on their side and luckily for us we get to -- to help them and at tend we prefer a little earlier in the career and get the training and walk out the door and feel there's a path forward
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i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, october 17th. your top stories right now, 7:0. we have breaking news, a draft deal has been reached on brexit. u.k. prime minister boris johnson says he reached a great you new deal. he's urging parliament to approve the deal this week. thesthe eu commissioner telling member nations to back this deal. markets are rallying on the news. take a look, poised for a higher opening with the dow industrials off the highs of the morning but nonetheless showing a gain of 94 points. s&p up 10, nasdaq futures up 29. markets finished down slightly yesterday after consumer spending came in lower than expected, fractional losses across the board yesterday.
global markets are following the draft deal on brexit response. european indices higher across the board. fq100 up one half of 1%. dax index in germany higher by 60 points. asia overnight markets finished like this, the best performer was hong kong, hang seng up two-thirds of a percent. breaking news this morning, maryland congressman and house oversight committee chairman elijah cummings has passed away, dead at 68 years old. he passed away overnight at john hopkins hospital. the streaming wars this morning, netflix getting a boost from overseas subscribers. they fell short on overall growth expectations but the stock is up 8%. the streaming giant downplaying the he threat of other you powerhouses entering the streaming field. morgan stanley earnings due out this morning. the stock is up 2%. plus, teacher strike in chicago, a massive walkout on the
nation's third largest school district. what the teachers are demanding this morning coming up. all those stories coming up this thursday morning. joining me to break it down, dagen mcdowell, national security corporation strategist, art hogan and fox business' deirdre bolton. a lot of news this morning. >> brexit, looks like at least both sides, it seems like we have a deal. we'll be looking for that. futures moving higher on that. maria: takes a lot of uncertainty out of the way. dagen: until we get to the dude sitting to my right, i'll stifle. maria: re-wit stifle. maria: we are remembering elijah cummings at this hour. news came overnight that he passed away. his office released this statement. at approximately 2:45 a.m. on thursday morning, october 17t october 17th, 2019, congressman elijah cummings of maryland passed away at johns hopkins hospital due to complications concerning long-standing health challenges.
more details will be forthcoming. he represented maryland's seventh congressional district since 1996. he was 68 years old. our condolences go to his wife and family. joining us now is former economic add a vicar to president obama, -- advisor to president obama, robert wolf. your reaction to elijah cummings. >> i know he's had a number of issues with the current president but he was a great public servant. 1996 is when he came into office. he obviously ran a lot of different committees. he currently chaired the oversight committee. it has not been easy to be a politician in baltimore the last decade with everything going on. and i think like all these different politicians, we may disaa agree or agree, but they're given to our country to better it. it is a sad day. he was a young man. he was 68. maria: he was a good man. >> that was the first thing we
said when we sat down, god, that's really young. >> i had a the honor of meeting him a few different times. he was always there for human rights and civil rights and i think he always spoke truth to power and in this polarizing environment, a lot of the good things he's done over the years, everyone goes to their corner. i think everyone is going to remember him as a great public servant. maria: absolutely. and our condolences to his family. dagen: donna brazile on twitter, she made a statement on his passing and she ended it with rest in power. maria: we have a lot of breaking news we want to get your take on. out of europe, we've got a draft deal that's been reached on brakebrexit. boris johnson said they reached this quote, unquote, great new deal with eu negotiators and he's urging parliament to approve it this week. features spiked on the news. you've got a rally in the dow industrials, up 83 points, coming off of the highs. you're the former chairman of.
bs americas. your take on this? >> when i was president of the investment bank, our biggest business was in the eu, switzerland and europe and from turkey to everyone, i've had the ability to metered juan an meetd -- erdogan and many different leaders. i was never for brexit but i'm absolutely for a brake brexit d. once the public votes and they decide they're going to do this type of deal, they should proceed. we're now three years into it. i hope this is a real deal. we've been speaking about it for years. any time we can take geopolitical risk out of the financial markets is a good day. so this is a good day for the markets. i think it's a good day for all of the money managers around the globe because this is one thing we can now take off the table. >> and for trade an for tech, we're talking about how many american companies are based in ireland and then with ireland as part of the eu and northern ireland, obviously in the u.k., that was going to create all
kinds of hassle which is apparently the place that the compromise has finally been able to be made. >> you gave me a big soft ball there because we've been speaking -- i always feel i'm to the right of the conservative party right now when it comes to fiscal responsibility and trade. it would be great if the president and boris johnson started talking about bilateral trade. i was always for t-tip, i've been for ttp. maria: the president said as soon as the u.k. leaves, mead her they're going to do a deal, the u.k. and the u.s. >> any time we can get the trading partners where we can figure out how to make one plus one equals three instead of two, that's a good thing. >> wind in the sails. we have a long relationship with the u.k. >> i heard this morning when you announced it, you were one of the first to announce the breaking news, the question is we haven't seen any drafts of what they've agreed to. we have to get through parliament. >> there's a meeting later today. >> we have to get through the parliament tri -- maria: we got a good comment
from the commissioner. >> which is great. >> dagen: the small northern irish democratic unionist party has come out and a said they're not going to endorse the agreement. so there's already a wrench being put into it. >> boris johnson has a somewhat difficult relationship right now with the u.k. parliament so we'll see how those conversations go. maria: did that just come out? maybe that's why markets off of the highs. >> this is part of the reporting from the wall street journal. >> do you think there's been a lot of companies like ubs or -- that have already made a move out of london in terms of it being the financial hub or do you think people are waiting to see how this -- >> there was no question whenever you have a global business, you don't wait for the action to happen. you prepare years in advance. i remember for many, many volatile days maria and i and dagen used to talk about dodd-frank. we didn't wait for dodd-frank to happen. we had to prepare years in advance. everyone has prepared for brexit to happen, there's no question about it. now they'll have to look at what the new rules are. we really don't know how trade's
going to be, going from open trade, open passport, all this open environment to something that will be much more -- i don't want to say barriers of entry but there will be barriers of entry. maria: the other news is that meeting yesterday at the white house. president trump clashing with house lawmakers over his syria proposals. the president holding a tense bipartisan meeting yesterday at the white house after the house voted to owe pose the administration's withdrawal from syria. the meeting ended with democrats walking out. president trump and nancy pelosi both weighed in on this yesterday and had their own sides of the story. watch. >> syria doesn't want turkey to take its hand. i can understand that. but what does that have to do with the united states of america? if they're fighting over syria's land, are we supposed to fight a nato member in order that syria, who is not our friend, keeps their land? i don't think so. >> we just came from a most unsatisfactory meeting at the white house. as speaker of the house i reported to the president that shortly before the meeting we
had a vote in the congress, 354-60 opposing his actions that he took in syria. most importantly, asking the president what his plan was to fight isis now that he had disrupted what was going on in syria. he couldn't handle it. he just couldn't handle it. two to one the republicans voted to oppose what he was doing in syria. he kind of engaged a meltdown. we were trying to get the answer, what is your clear plan this resolution asks for, how we fight isis. it was very sad. maria: vice president mike pence and secretary of state mike pompeo travel to turkey today for further talks. you heard mike pompeo the secretary of state with me yesterday talking about his goals for that trip and he's basically wanting to ask turkey for a complete cease fire. your reaction? >> i mean, this is -- listen,
the environment has been incredibly toxic, away from pelosi and trump. in the of last 72 hours, the only bipartisan issue that actually seems to be is that people are not happy with the president's decision with respect to the kurds and turkey. yesterday, when we were chatting, we found out that we're now having strategic alliances on this with iran and russia and assad in sir why and all -- syria and all of a sudden our allies in kurds have become our frenemies. i would like to take a step back to see how we can get to a cease fire. no one likes what's going on. we saw the letter that obviously that you guys broke yesterday with respect to erdogan and trump and i think we're in a situation where people need to understand the president's decisions a lot better than via tweet and it seems that lindsey graham and a lot of those who
have been more hawkish seem to be obviously against what the president's decision is. maria: here's the letter from president trump to erdogan, saying let's work out a good deal. you don't want to be responsible for slaughtering thousands of people and i don't want to be responsible for destroying the turkish economy, and i will. he ends it by saying don't be a tough guy, don't be a fool. i will call you later. president trump. now, yesterday when secretary of state mike pompeo joined me he put the blame of this increased chaos in syria right now pointedly straight at erdogan. watch this. >> great interview. >> i've watched the world rally to push back against president erdogan and the invasion that took place. we should never mistake who the actor is that has caused this disruption there. it wasn't the united states. it wasn't the european countries that were there in syria alongside of us. it was president erdogan who is responsible for this instability. >> maria, that was a great interview. i do think that there's been some pushback on some of the
comments he made to you, especially where he made the comment to you that turkey would have fired upon the kurds whether we were there or not there. i know that there's been some pushback on that statement, no disrespect to the secretary. and so listen, i think that we're right now -- this situation is not going to stop. yesterday a majority of the house including over 150 republicans voted for -- over 100, i thought it was over 150 -- voted for the idea what the president decided to do was not -- it's now going to go to the senate. maria: voting no on his withdrawal of the troops from syria. >> correct. maria: i understand this is an issue that a lot of people agree it's a dangerous situation to take the troops out. i think the american people are sick and tired of all the fighting. they have to start getting something done together. dagen: if that's our national security, so be it. it was done rashly. it was ununexpectedly.
our own troops on the ground were not prepared for this. we're having to bomb and basically fire on an installation that we had in that part of syria to ensure that our enemies, like russia, don't collect intelligence secrets on the ground, number one. number two, i'll add this of. why increase the military budget so dramatically if you're going to pull out? number one, in terms of how much money we're spending as a nation. and our $1 trillion annual budge he ebudget deficits. number two, don't you want the republicans on your side when you're facing an impeachment inquiry by the democrats in the house. maria: this was a campaign promise, take the troops home. >> i'm not a hawkish guy. we've been speaking for a decade. the reason i backed obama was because he wasn't for the war. i don't have an issue with the president not being -- putting our men in harm's way. i mean, we've all been supporters of wounded warriors
forever and a lifetime. i do think it's what dagen said. it's about execution. it's about has this plan been executed with the right people around the table. he's the president. he's the commander in chief. but the question i would have is on execution. and it seems that's where a lot of the pushback is happening. dagen: there are 1,000 isis prisoners that could be -- could escape. there are 15,000 additional potential fighters on the ground there. president obama learned that you create a vacuum, you have to go back. so if the u.s. has to go back to prevent terror from arriving on u.s. shores, we have noa no alls because we turned our backs on the kurds. and turned our backs potentially on other allies. is this an individual in the white house that you can trust? >> it's a tough situation. maria: yeah. robert, thank you. >> thanks for having me on. a great interview with barry diller. i've been watching the past couple days. it's fantastic. maria: the chaos in hong kong.
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(alexa) added "positive attitude" to band shopping list. that's for you. you need it. join nationwide now and get a free amazon echo auto. maria: welcome back. new chaos in hong kong's parliament. cheryl casone with details in headlines. cheryl: carrie lam was forced to suspend her annual policy address after she was heckled by opposition lawmakers. security guards had to remove more than 1068 peopl 10 people t session. they demandnd an inquiry. south park taking on lebron james for his comments about the nba china controversy. >> we do all have freedom of speech. at times there are ramifications for the negative things that can
happen when you're thinking about your self. cheryl: lebron criticized daryl morey for a pro hong kong tweet. the nba taken off the air in china. many events surrounding exhibition games in china were canceled. fell afelicity huffman's time bd bars could be cut short. she began her 14 day prison stay began yesterday. she will only serve 13 days because she spent a few hours behind bars when she was arrested back in march. we should add that a lot of folks call where she's at in california club fed, tvs, there might be yoga. maria: she admitted it right off the bat. she's serving her time. i give her credit for being courageous on all of this. talking about the hong kong, china situation, cheryl, i just -- i think we have to put an underline into the comment that xi-jinping made the other day.
i want to make sure the audience sees what xi-jinping said about the hong kong protest. here's the quote. any further attempt to divide china will literally be crushed. anyone attempting to split china in any part of the country will end up with crushed bones and crushed bodies and shattered bones. that's what xi-jinping said. >> in reference to napal? in reference to hong kong? in reference to anything? maria: he said it to the prime minister of napal. he's talking about anybody who protests. enough said. i wanted to put that-just sort of shows you who you're dealing with. crushed bodies, shattered bones. we'll be right back. is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions.
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subscriber growth. they posted a beat on earnings. the company added over half a million new subscribers in the u.s. amid an estimated 800,000. joining us now is trust portfolio manager dan morgan. it's good to see you this morning. thanks for joining us. your reaction to the netflix quarter? >> it's like you said, maria. they beat on that third quarter but then the guidance going into the fourth quarter was really shy of the street. they were looking for, what, 9.23 million subscribers. they came in with 7.6 million. that kind of led to a bit of concerns about new subscriber growth going forward with competition coming in as we talked about of before, with apple tv, you've got disney, hulu, all these other disney plus, so how is that going to work in going forward in terms of adding new subscribers when they kind of fell a little bit short of estimates on the fourth quarter. >> are we getting to the point where we're getting close to saturation at least domestically
for streaming. feels like we've got a dozen new products coming at us in the short run and netflix's growth over the last three quarters hasn't shown any domestic growth, it's all been international. do you think domestically we're pretty well saturated in the streaming business, is that going to get worse with new competition coming in. >> you're exactly right. if you look at their overall quarter, let's say they just did, 6.8 million in terms of subscribers. they were short of 7 aggregate but only a small portion was domestic, i think it was 6.3 was international which was a little above the estimates of 6.2 million. but yeah, you get to this point where the real opportunity is in the international space and yet we have all these big domestic names coming on, battling it out with content. so to me, the real challenge for netflix going forward is can they continue to add content internationally and continue to grow and also monetize their existing base.
we talk about that with spotify and facebook. but they have 160 million people using their service and let's face it, the growth is going to start to slow down. so how do you monetize and a increase the amount of revenue per user opposed to having to just focus on adding new people domestically which is tough. >> dan, deirdre here. netflix is the poorest performing stocks of the fangs. do you buy at a this level? >> we have a small position in that -- not a huge position for us. i think there's going to continue to be challenges going forward. we know that disney plus is coming out here in november, we've got apple tv, $4.99, $6.99 a month. you're going to continue to have more headline news working against netflix because of worries about competition. so i think it makes it a little more challenging for them as being one of the big fang stocks to continue to have th the performance they've had. >> i should have said year-to-date mf what do you
think of ibm. they closed the red hat acquisition a week before the last earnings. it's the first quarter that they're reporting their numbers in ibm's quarter. it did post a miss on revenue, the stock is down 5% right now. what would you do with ibm? >> you're right, maria. and this quarter they did, what, $370 million in revenue on their cloud and cognitive segment which is where the red hat numbers came in. that was up 6.5%. but all the other segments, their services and everything else is pretty much flat to down. fifth consecutive quarter of negative revenue growth. so it's a very challenging stock because it's probably going to be out until approximately 2021 before we really see the full amount coming on with red hat in terms of accretion towards earnings. so i think at this time, maria, it's still going to be what it's always been. it's a dividend stock. it's a l value play. it's going to take a year or two for this thing to really be perked up from the red hat
acquisition. i think investors are going to have to be patient and reap that big dividend. maria: the third quarter cloud revenues was $5 billion and it was 14% cloud revenue growth in the quarter. is that do you think are the growth story right now, one of the growth stories in tech, cloud? >> 100%. the problem with ibm is they took too long to make that pivot. this acquisition as you mentioned, $34 billion which they probably paid too much for, for red hat, is moving them in the right direction. remember, they have to get that integrated. they have to find the synergies. they probably paid too much for red hat. while they're doing that, they're not buying back their shares. they suspended their share buyback. that affected their earnings as well. >> can they catch up to amazon and microsoft for cloud? >> they can. the problem is while they're doing it, you pointed this out, this is correct, their legacy business is dying a slow death. it's a melting ice cube. they will get there but it's not
2020, it's 2021. maria: hard to see growth the bigger you get. hard to generate growth the way that you see in some of these other smaller names. >> it's also important to have made a pivot earlier in the game. you look at a microsoft, which did this years ago. you need to get to the cloud. you look at a cisco which turned into a recurring revenue story much faster than people realized and they ditched their legacy business a lot quicker. ibm didn't do that. they hung on too long. they're chasing, they probably overpaid for red hat. >> can companies -- can big companies innovate, the long story short the answer is usually no. maria: apple seems to be doing it, actually. real quick before you go, would you buy these two stocks here? >> i think you could have kind of a wait and see on netflix because of the competition element that we taw talke talket before. we own a sizable position of ibm. i think you could look at it as a dividend play. they have a 4 to 5% dividend.
it's way up there. you get paid to let it happen over the next couple years. maria: thank you so much. bank earnings in focus this morning. we're awaiting morgan stanleys right now, the third quarter earnings report. we're looking at the stock trade up looking into the numbers. joining us now equity strategies director, marty mosby. thanks for being here. what's your expectation on morgan stanley? >> well, we think that the -- what we're going to see is in line with what the market thinks, around $1.115 is the expectation. we have seeing a little bit of revenue pressure because of what they have from their private wealth management and the net interest income that they generate. so a little bit of pressure with lower interest rates will make them be down sequentially. but overall, morgan stanley's a favorable stock for us as we move into next year. they kind of trough out when rates begin to stabilize. >> when you look at some of the bank earnings so far this week, i think we've seen some pretty
surprising -- my biggest surprise is loan demand seems to be growing much bigger than -- much larger than our expectations, both from the corporate level and the consumer level. do you think that's going to be a theme we're going to continue to hear when we get down to the regionals, bough because it's certain -- because it's certainly the majors all talked about strong loan demand. maria: morgan stanley is out. we have to get to lauren simonetti. let's get the numbers. lauren: the news is good. morgan stanley reporting earnings per share of $1.27 versus the estimate of $1.11 so that was a nice, healthy beat there. they also beat when it came to revenue. little over $10 billion in the quarter. the street was expecting $9.6 billion. so once again, the banking sector has not felt the sting of lower interest rates just yet. this is a welcome increase in the share price. when you look at morgan stanley which is up 8% year-to-date but it is trailing its peers by a wide margin, the kbw banking
index is up 17%. double beat for morgan stanley. maria: you want to give us a reaction that we got a better than expected top and bottom line before we get back to marty on his analysis. >> across the board. it's interesting, morgan stanley is a much steadier business because they've really transitioned over to financial advice. so they're no longer that sort of going after goldman sachs' business, investment banking, they're still a player but the largest portion of the business is the financial advisor business and i think it's a very good side to see that kind of growth. >> financial sector earnings have been pretty bright, right. dagen: goldman sachs is the softest of the bunch in terms of the earnings report because it doesn't have the stability of a morgan stanley business, it doesn't have the deposits of a jp morgan. but who does. >> and they had a bunch of deals that went south for them. their calendar has been difficult this year. that's the problem. when you live in that market, you live or die by the calendar and goldman sachs didn't --
definitdagen: got the apple cae what is does. maria: the stock is moving and moving fast. your reaction to this quarter. >> actually, this extra nickel he'll of earnings that we're seeing is likely coming from what we had in the fixed income area. we saw a couple he'll positive beats there. so they're getting the benefit of that. also what they were seeing was the ipo market would have been kind of a head wind this quarter. so there must be some other investment banking business that they're being able to pull through. so all in all, this is a good stabilization for them, instead of seeing the downturn of 5% we were talking about, this is about even with what we were at earlier this year. so what we're getting in the overall theme of banks is a sustaining of earnings power and returns and the valuations really don't reflect that. so if we can see credits stay relatively low and the cost of credit low, we can see that the banks can manage through the interest rate pressures with growing the balance sheets like you were talking about earlier with strong loan growth.
then i think we can see these things start to work towards the end of this year and going into next year. >> marty, you mentioned the investment banking business. how is it that more and more companies are doing these direct listing, so spues spotify was the -- spotify was the first one to do it, taking out the middlemen in a way that are the investment bankers. do you see this happening more? what does that mean to the investment banking business? >> well, again, it's an evolution that we're seeing in the financial markets. but we're seeing that also with the regulation on traditional banking. there's more things happening outside of that. so what that does means is that the banks' balance sheets and the banks' business mix are really a lot less risky and a lot less kind of leveraged to the froth that can come into the market, the extra business and the extra deals that are getting done are happening kind of outside of those traditional channels. so that is an incremental thing that's happening in relation to regulation and things like that that have been much more strict on the tradition l nail business
models. >> we're seeing great reports so far. it's been the major money center banks. does this translate down to the regional banks when we start to hear from them over the course of the next couple weeks? >> we saw some good news yesterday from u.s. bank corp. and pnc as well as bb aunt t and sun trust -- bb & t and sun trust. the super regional banks are growing 6 to 7%. the money center banks are holding relatively flat given the head winds they've had with capital markets and some of the investment banking. so we do believe because they have extra liquidity, they're getting active, they're increasing that loan growth, that loan demand is there. that's incremental earnings that really hasn't been counted on and those credit costs, we believe we have a credit cycle monitor forecasts that for the next year, the credit cost should stay relatively stable. that's a positive for the group that isn't calculated into l
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it also has the highest growth in manufacturing jobs in the us. it's a competition for the talent. employees need more than just a paycheck. you definitely want to take advantage of all the benefits you can get. 2/3 of employees said that the workplace is an important source for personal savings and protection solutions. the workplace should be a source of financial security. keeping your people happy is what keeps your people. that's financial wellness. put your employees on a path to financial wellness with prudential. maria: welcome back. a top technology leader declaring, quote, capitalism is dead, that's one of the blockbuster headlines from my sit-down with the co-ceo of sales force, marc benioff said
to me that facebook is the new cigarettes. we covered a range of issues from artificial intelligence to homelessness. watch. how would you characterize the macro environment and i know that people are worried about cap expending. >> i was in yo munich yesterda, in london on monday and i'm in new york today. our customers are all still very aggressively investing in their digital transformations. those transformations begin and end with the customer. that's why we're involved in those conversations. we continue to see a tremendous work in transformation worldwide as a all companies transform themselves to connect with their customers in new ways and i think the environment remains very good. that said, you know that i'm a trustee at the world economic forum and the head of the oecd, i saw him in paris, and he basically has taken his global growth rate from 4% to 3% because of what's happening with this trade situation. so he said, and i agree with
him, if we resolve the trade situation, global growth will resume its climb. so that would be very exciting. maria: when there's uncertainty around, business managers the first thing they do is sit on capital. when you're talking about digital transformation, this is a must spend, isn't it. >> it's a must spend. you're right. because, look, every company and every customer is trying to build a 360-degree view of their customer because today if you don't have a direct connection with your customer then you're not really competitive in the world and it doesn't matter if you're in retail or banking or healthcare or you pick your industry, maria, everyone is trans forming and connecting with their customers in new ways and bringing new ways to connect companies and customers together. maria: i guess the market got spooked yesterday and a little today about workday and workday's ceo's comments about the environment. europe is having a hard time generating any growth. can you give us a sense of what you're seeing in europe? same thing in europe or do you see europe a little slower than the united states?
>> europe has been healthy for us. we've had 30% growth there the last quarter. it's been good for us and like i said, i was there yesterday, i was meeting with the largest companies in germany and in the u.k. and, look, they're investing. those are the conversations that we're having and everybody just wants to have this trade issue resolved. maria: is the growth story at salesforce from data analytics going forward? i'm really getting to this recent acquisition you made. i know it's early on so you're not going to say a lot about it but tableau has been talked about in terms of another big growth story for salesforce. where do you see the growth within the company in the next five, 10 years. >> we've had a fantastic shareholder return and if you bought our stock in 2004, it's been a 3400% return. we forecast we'll go from guidance $16.9 billion or approximately $17 billion this year to $28 billion within three
years, fiscal year '23. we see expanded growth but that growth is anchored on one thing, which is this digital transformation phenomenon and the focus on customer which is the only word that we do at salesforce which is help companies connect with their customers. maria: do you worry about the trade fight going on and china getting ahead of us in some of these really important technologies like a.i.? >> i don't view it like that. i think actually that we're quite competitive with all countries and all industries. and i could make the case on why that is true. but what i will tell you is there is a lot of transformation happening. this is the fourth industrial revolution. you do have a.i. you do have robotics. you have the biosciences. maria: oh, yeah. >> there's many things happening r around the world and in all industries and i've never seen so much transformation and change and innovation. maria: you've got your dream force conference coming up next month. this is your opportunity to put on this big show, tell the world what's coming, what's coming at salesforce.
can you give us a hint in terms of the push into new areas. >> you just talked about it. it's all about a.i. we call it einstein. einstein, artificial intelligence, and just to connect the dots, one of the things that we just showed is we have einstein and it's running on a drone and it's over the ocean right now in santa barbara and it's able to classify -- i just put this on my twitter feed that it saw a great white shark heading towards a school of kids in a surf camp in santa barbara. it was able to call the park and say hey, get the kids out of the water and you can see the shark and you can see the a.i. saying oh, there's a shark there. now, just five years ago, that was not possible. okay. but today and you know this already because of the special you just did on a.i., it is possible and we can do a lot of things and that's an example of improving the world through a.i. because you know, technology is never good or bad. it's what you do with the technology that makes a
difference. we have to keep that mind as we start to think about values and our businesses. maria: you make a really good point. we are right now in this discussion about how technology will change as a result of perhaps more regulation. so we've got some social media companies that are stronger and more powerful than we've ever imagined p. what are you expecting? and is it bifurcated in terms of tech where we might see regulation on not regulation? what do you expect in terms of what's coming from washington, what should be changed with regard to regulation on big tech? >> well, you know i just wrote about this in my book, which is that -- we were there together, actually, in davos in january, 2018 and i said facebook is the new cigarette. it's astick testify. it's -- addictive. they want your kids. they're passing your information to 50,000 other companies. you don't know what's happening. now they're buying assets like what's app and instagram and
co-mingling that data and if you saw that netflix special called the big hack they're creating market segments and shifting elections based on that data. that's not good. nobody wants that. we want society based on trust and truth. that's so important. this is something we all need to be committed to. we have to focus on trust as our highest value. maria: you write a book, it's called trailblazer, the power of business as the greatest platform for change. why did you write this book? >> capitalism as we know it is dead. businesses need and we all need a new capitalism. that is a capitalism that is more fair, more equitable and more sustainable. and that's a capitalism that includes all stakeholders, not just shareholders. this concept that the business of business is business is over. what are stakeholders? it's your employees, your customers, your partners. by the way, i'm from san francisco. it's about our homeless. maria: i've got to talk to you about that. >> let's do it. also, public schools and the
planet. i mean, i'm the ceo of a big company now, not just a start-up like when i melt you. we have 45,000 employees, $130 billion. you know in market cap. maria: congratulations. what an incre incredible growth. >> isn't that cool. maria: you're using that to give back. >> we've had a great shareholder return, 3500% since we went public. owe've also had a great stakeholder return, $300 million in grants, 4 million hours of volunteerism. we have also been able to run 40,000 non-p profits and ngos for free on our service. we're a net yea zero company. we don't have any net new carbon emissions. that's our stakeholder return. all companies can report not just their shareholder results like you cover so well here but your stakeholder results too. we do. we publish a stakeholder report. the ses has an opportunity, i -- the sec has an opportunity to say to companies, tell us about your stakeholders and what
you're doing for them. maria: i want to push back on this for a minute. because this has been in your blood, in your dn a a, this whole notion of stakeholders. so you're maybe different in this category. when i first saw the business roundtable decision, i thought wait a minute, does that mean employees and the communities you operate in weren't important beforehand. i thought it was a little bit of pr. i said wait a second, what about shareholders, what about capitalism? who is going to stand there and defend capitalism? >> this is a new capitalism. it's where shareholders are as important as stakeholders and it's coming from within the companies. it's coming from within. people who are working inside companies today say hey, i'm not just here to make money. i'm here to improve the state of the world. i know you feel that way. it's why you are here with this network and left the other network. you're here because this is your platform you use your platform to improve the world. i know that because i watched you for decades. i'm also using my platform to
improve the state of the world. maria: what are you thinking about the homelessness issues in california right now? any ideas in terms of -- >> i have a lot of ideas. that's why a year ago i spent $7 million to work to pass a tax to tax salesforce which is called proposition c in san francisco to create more homeless services because we badly need extremely low income housing and social services. it's been proven by medical studies, by clinical studies, and we're just not doing enough and so 62% of the voters actually passed this and it's in the courts right now. but we need more services. and this concept of extremely low income housing, as i told you, i was just in europe, if you go to france they have a minister of low income housing. they call it social housing. and they plan it inside their communities. we just don't do that. we have not planned these big cities like you just mentioned to really know -- everybody's not going to be able to afford
the gorgeous apartment or house that you and i live in. we have to be able to create housing for everyone and that is a way, a critical way to help eliminate homelessness. the key to homelessness is housing. maria: the book is trail blazer, pick it up. marc benioff, the founder of sales force. we'll have reaction from that interview from andy barr coming up. chicago teachers are on strike. kellogg's new morning crunch makes breakfast more interesting. wait until you see this one. back in a minute. i wanna keep doing what i love, that's the retirement plan. with my annuity, i know there is a guarantee. it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot org.
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congressman cummings was an honorable man who proudly served his district and the nation with dignity, integrity, compassion and humility. he worked until his last breath because he believed our democracy was the highest and best expression of our collective humanity and our nation's diversity was our promise, not our problem. it's been an honor to walk by his side. i loved him deeply and will miss him dearly, maya cummings. thousands of chicago parents are scrambling this morning. cheryl: chicago public school teachers have gone on strike. the teachers and the city closing schools for that job action. the teachers' union announced last night the 25,000 members would not be in classrooms today. the city and union have been trying to hammer out a contract for months. you're looking right now at live pictures coming out of chicago. again, all public schools in chicago closed today and the strike is ongoing. well, lawmakers out in los
angeles are pushing a $30 minimum wage for uber and lyft drivers. the city council approving the study. half the money would go to wages. the other half would be used for expenses like gasoline. and kellogg's is getting into the spirit. they're creating a spirit called all together. it's going to support the activist group glad's anti-bullying spirit day. the cereal is a mix of frosted flakes, fruit loops, rice crispies, frosted mini wheats, racraisin bran and corn flakes. it's all available at new york's kellogg's cafe. sounds like a lot of fun, sugar and calories. maria: yeah, a lot of sugar there. coming up, trump versus house democrats, the president holding a contentious meeting yesterday at the white house. speaker nancy pelosi was there, she stormed out. details next hour, with one house lawmaker on "mornings with
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there are zero reasons to invest anywhere else. fidelity. ♪ so maybe i'll win ♪ saved by zero thanks for joining us. i'm maria bartiromo, thursday, october 17 top stories just before 8:00 a.m. on if east coast, we have breaking influencing this morning a draft deal has been reached on brexit, uk prime minister boris johnson says he reached a great new deal with eu goishts, urging parliament to approve it will this weekend expecting that on saturday, there is already opposition this morning we are headed from london for the very latest will bring pushback maryland congressman house oversite committee chairman elijah cummings dead at 68. passed away at johns hopkins hospital offer tonight reaction from a colleague coming up brexit pushing futures higher, higher opening 89 points, nasdaq up 36 s&p up
11 points, this after yesterday's move lower consumer spending lower-than-expected pressured markets fractional across the board, global markets are hire, following the draft deal on brexit european indices higher across the board ft 100 up 40 points cac quarante up one point dax in germany up 28, in asia overnight situation was really mixed, hong kong best performer, up a fraction, stories coming up thursday morning to break it down fox is about dagen mcdowell, national securities corporation chief market strategy art hogan, fox business deirdre bolton great to see everybody you have been finding lots of pushback on brexit situation. >> a lot far from a done deal from what i understand uch parliament is having usual voting on a saturday, labor apparently not backing what the uk pm boris johnson suggested dagen mentioned some resistance from northern
ireland right now what i am have gleaning seems northern ireland would stay in union with eu sticking point that was where, the toast part of the compromise was found there are many in northern ireland who do not want that dagen: nigel farage brexit party leader urged uk parliament to reject the deal the planned eu and boris johnson. >> eu -- >> the deal, a fair alabanand balanced. dagen: side not just brexit into eu too many ways we are digging into details. >> pushback more on that coming up top story this hour we are remembering congressman elijah cummings this morning breaking news house oversight committee chairman died last night served in congress since 1996, just 68 years old kentucky cram house financial services
committee member andy
barr good to see you this morning thanks so much for joining us. >> what a shocker for all of us were aware how sick elijah cummings was. >> o no i wasn't its was a surprise to me our thoughts and prairs go to cummings family as you said 6 years old far too young. >> his wife, gave a beautiful statement this morning, about that. what happens now? he was the chairman of the committee. how does that what are house rules in terms of what happens next? >> well, he goes chair one of the referring committees on impeachment probe, there will be some time for grieving i am sure, and the speaker will make those announcements uniformities obviously, for members of congress, to pay respects to our colleague. but i suspect the business of the congress will continue and that the impeachment proceeding will continue. >> congressman we send condolences
to you and
colleagues this morning we want to get thatl to that impeachment inquiry continue about clashing president yesterday clashed over syria held tens bipartisan meeting at the white house overwhelmingly voted to oppose withdrawal from syria ended with democrats walking out president trump house speaker nancy pelosi had their sides of the story twhach got watch this. doesn't want turkish to take its lands i can than us what does that have to do with united states of america? if fighting over syria's land are we supposed to fight a nato member in order syria not our friend -- i don't think so. >> we came from most unsatisfactory meeting at the white house speaker of the house reported to president shortly before meeting we had a vote in congress 364 -- >> -- 60, opposing actions to turkey and syria most perform
asking president what to -- the plan was to fight isis, now that he has disrupted what was going on in syria. couldn't handle it just couldn't handle it two to one republics voted to oppose what he was doing in syria, kind of engaged in a meltdown we were trying to get the answer, what is your clear plan with this afterwards how we fight how we fight isis? it was very sad. >> congressman this after president trump sent stern letter to erdogan saying don't be a fool "let's make a deal," otherwise, i could crush your economy vice president mike penn secretary of state pompeo in turkey for further talks your reaction to all of this congressman. >> i am glad the vice president and the secretary of state are in turkey look there is bipartisan concern about
issue especially with reports of the escape of isis detainees in northern syria, i was in irbil iraq met with president barzani of kurdish region in 2015 back then members of congress were trying to encourage obama administration to directly armu kurds in counter isis fight with united states they were loyal allies deserve our support i am sympathetic to the president want to go bring the troops home, and the american people want that as well. i think the key is the conditions under when we withdraw groops i think the concern in congress was the timing was bad in terms of not did he terg incursion from turkey this poses security challenges for united states allies in the region particularly when you consider, the possibility that resurgence of isis the possible of growing russian influence in the region a potential corridor through would iran could resupply to
attack israel there are major national security challenges i spoke with secretary of defense the other night encouraged the administration to let intelligence on the ground really animate the policy here. dagen: it is dagen mcdowell two days ago president trump said in a statement that those the 1,000 u.s. troops evacuating syria would remain in evenlying i think there are 1800 going to saudi arabia. >> yeah, well -- look, the united states needs to have a presence in the middle east to deter iran, to deter, a resurgence of isis to defend allies like israel so we cannot so is late completely i understand the united states is weary the u.s. national security and homeland, there are threats to our homeland if we completely withdraw. dagen: right, when we saw on 9/11. >> correct. >> right. maria: congressman could you.
>> could you walk us through next steps past bipartisan support for this -- and the house i see goes to senate what happens next what should we look out for in terms of next extension. >> i think we are going to hear from administration in classified setting about what next steps are from the administration. obviously, there is bipartisan concern about what is happening in the region. the senate may take action, not sure i know many senators like senator graham have expressed concern to the president. and look we cannot allow isis to reconstitute its don't need a repeat of president obama's mistake premature withdrawal loud isis to create this caliphate. that would be a disaster would be a disaster for all of the bloodshed the blood that has been shed by american service members fighting yaisis for sure insurgency in iraq we are going to continue to encourage the administration, to let the
intelligence animate the policy here we will continue to gauge the administration work seeing in one issue i brought up with saebt mike pompeo the oil fields, in syria, you know, who is to say, that now that the u.s. is -- is going to be leaving the iranians don't claim those oil fields then new revenue you know you have them on heels now you've got them getting revenue, to support isis again. >> not only that, maria but very it is very distressing to see as u.s. troops are pulling out russian flag is moving in. maria: that is right. >> this is emboldening iran russia, and the risk of a recons tooutsdz isis is something we cannot tolerate. >> last thing one isis flag hoistsdz. >> there wraurns video circulating of installation in
northern syria u.s. had to a abandon all of a sudden happy meals -- >> i understand the sentiments on this wants to go get our troops out of harm's way there is a pushback i got to get your way we have talked few weeks ago congressman on business roundtable, decision to say look profits are no longer the priority, i want to i sat down with founder co-ceo of salesforce yesterday marc benioff said capitalism as we know it is dead here is what he said i got to get your reaction watch this. >> i was talking with congressman andy barr recently in washington he said to me when you are talking about this i want to hear, you know, who is going to defend capitalism and whether or not this is an opening for the elizabeth warren warns to come in say guess what let's change this, let's not be married to shareholders when you look at so he will plans for example, elizabeth warren and her green new deal or bernie sanders and about medicare for all you are
talking about a hundred trillion dollars when you add all this stuff up not getting that from overtacking you you are not getting in a from over taxing top 1% not enough money. >> look what can va has done to rice veterans homelessness about astonishing i am focused on this understanding the problem. maria: you know, congressman he is talking about you know, homelessness talking about the environment about all the these other issues away from from profitability what is your reaction to the business roundtable decision recently and mark benioff? >> i respect the business roundtable i respect leadership mr. dimon other ceos signed this restatement, or redefinition of corporate purpose they are great business leaders they have obviously, maximized shareholder value for their shareholders otherwise wouldn't be where they are i think this is a big mistake
maria. i think it is going to be a coastal mistake, look, look where we are in american history right now in the middle of a of an allotting battle between socialism and capitalism cannot have business community retreat invite socialist left to interject their social agenda environmental, social agenda into corporate boardrooms right now. the primary goal primary mission of a he corporation should also a be to maximize shareholder value otherwise they can't help their workers they can't, contribute to the communities, if they don't exist because they go bankrupt do not maximize proefkt they can't do all things business roundtable says they want to do in terms of a taking care of their consumers or supply chain what i would say is this. into you interject other priorities other interests, above and beyond, by the way,
they elevated stakeholders above shareholders shareholders listed last if redefinition that means that is going to take focus away from the fervent allocations of resources going to result in misallocation of resources going to have a negative impact on he investor returns. that is a terrible situation. in this country where we have a low savings rate, middle class families are vested in the stock 529, 401(k), iras, depending on maximizing returns at a time retiring baby boom generation has 25,000 dollars in savings if corporate leaders are no longer going to maximize middle class savings, and maximums myself those returns for middle class americans, that is a -- a huge crisis for our country, right now. you cannot help your employees you cannot give them a raise you cannot help your supply chain or serve your customers if you are not profoundly, maximizing profitability
lowers the cost of capital it means higher mull pelz in equitable market cheaper get very good for earnings very good for growth and job creation, and when the social responsibility of a company of a public company is to maximize shareholder value because when you do that you maximize profits taxable increase number of taxpayers because you are adding workers, that means the government is bringing in more revenue so my view that is while may be well-intentioned this kien of a statement from business community is going to invite things like this, elizabeth warren senator elizabeth warren favorite to be democratic nominee for presidency asking corporations and expecting corporations to change the way they do business, to elevate the liberal social policies she wants to cooperate
corporations and demanding now that they have made this statement she is demanding that they repurpose their activities to -- elevate liberal social policies corporations that is not their core mission, corporations should not be tools for the liberal left to advance their environmental, social agenda that has nothing to do, by the way, with the of these corporations. maria: yeah, you said very well congressman, and somebody has got to say it so we appreciate you joining us, to talk about this important issue, please come back soon so we can being have a longer conversation about it, well said congressman thank you. >> thank you. >> congressman andy barr we will take a break striking a deal uk eu reaching a draft brexit deal live to london very latest. >> show you vatican is using technology to bring guidelines prior to younger generations. back in a minute. nice. but, uh...
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>> with drastic deal on brexit, u.k. prime minister boris johnson says he and eu about have reformed agreement on uk exit from european union needs to be approved fox news is live in london with more. good morning to you. reporter: good morning, maria. this is the deal that everyone has been waiting for, three years this is really been in the making very few people knew what was contained within it released today and about negotiations continue right through the night up to the wire. the sticking points same that we have been talking about for three years crucially the issue of northern ireland border to prevent border between ireland northern ireland solution fo next few years northern ireland more closely aligned with eu than the rest of the uk unpalatable for some but pal atble for most europe has worried about uk deregulating after brexit
financial and other sectors they feel this would undercut europe making uk a low tax low tariff country could help them, that will be a key part of trade negotiations ahead we are still looking through this draft agreement to see if they got concessions on that. the key difference between boris johnson's detail and theresa may's detail couldn't get through parliament that this one allows the uk to negotiate its own free trade deal, boris johnson has talked repeatedly about that deal with u.s. and that is a big selling point for him, this deal also prevents freedom of movement through europe but it is a big but the hardest part is yet to come this deal still needs to pass through british parliament a vote is scheduled on this saturday. at the moment, boris johnson does not seem to have the parliamentary numbers dup northern i he russia party against it without them sifrm won't pass also mps want to remain as well as those who want no deal at all so boris
johnson has two days to parliament this is right deal will say if you don't vote for this outcomes no deal or no brexit perhaps disconnections he can make to deal with northern irish parties one hurdle has been overcome another very big one saturday. >> ben in london this morning earnings season off to strong start financial services sector bright sfwlot the bullish trend can last next former nasdaq ceo, taking on a slate of private companies his take on brexit as well, back in a minute. the lexus es...
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half but firm tone caused after draft of the brexits deal was announced between uk and eu futures higher with strong earnings from morgan stanley start of third-quarter earnings he season better-than-expected morgan stanley beat estimates on revenue and earnings per share the stock up almost 4%, joining us right now is global advisers president dominic good to see you thanks for joining us your reaction to when a we've seen in terms of the earnings period, the recent to own stocks. >> look analysts have really had to the did he previous earnings expectations substantially lower than what we are getting you to from a year ago a quarter over a quarter pretty tough comparison i think estimates a little bit on low end we are seeing already, that, i think we are going to get nice pleasant surprises. maria: so you think even sales being stronger for example, we know to your point third-quarter earnings was decline about 2.2% sales also a forecast to rise, net nt.
>> consumers have been very strong chase commentary consumers really, really been strong bank of america same commentary visa walmart, thereforing is telling at uss consumer is basically health and longest that mood doesn't change going to spend. >> that number yesterday minus .3%. >> a little disturbing came in lower than we expected but even that i got to take with a grain of statistical revised prior month's, and when you look at what bank of america said what chase said as far as consumer lending spending look at visa walmarts of the world amazon seems a little bit of a disconnect from yesterday's number to what consumers actually doing. >> talking about adding some -- to health care, from -- device side or facilities insurers what do you want to. >>s staying from pharma i that i dangerous spot right now, but -- >> lawsuit. >> yeah the lawsuits look the
political mood right now has a black cloud over the entire industry so you look what unitedhealth did he need a joint placement going to get it i don't care what senators congressman to get elected health care under permitted relative to s&p earnings expected to grow profits expected to grow i think a good fiem torrentry points in that sector. >> maybe headlong risk. >> elizabeth warren gaining steam particularly with health shoour insurers. >> be honest i totally agree with her line you are having a little bit of a roller coaster six to 12 months if you stay firm on it is elizabeth warren even if she got elected going to a single payer system? not happening democrats don't even want that. >> will be watching, ahead of the election, we will see you soon thank you, economic data
on the other side of break i sit down with former nasdaq ceo take on private companies, then reaction to breaking news out of london as brexit uk eu reached a draft deal. back in a minute. i am totally blind. and non-24 can make me show up too early... or too late. or make me feel like i'm not really "there." talk to your doctor, and call 844-234-2424.
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alert september building permits housing starts out. >> coming off blowout august revised higher we did have 12-year high so obviously, numbers are going to come down, when you are coming off 12-year high, september mind you mortgage rates 3.57% pretty low. potential home buyers taking advantage? groundbreaking on homes 1.256 million units, a miss, 1.32 m will the expectation. we got a beat for permits, 1.38 million, expectation 1.35 taking this in stride quickly jobless claims touch less than expected 214,000 claims last week. >> thank you so much lauren simonetti with the latest there, after more than a month on strike gm workers may be headed to work grady is live in detroit over to you.
reporter: maria in about two hours, local union leaders from across the country, will meet here decide two things, one whether to end this strike and two, whether to approve the tentative agreement two sides reached yesterday the details of that tentative agreement still unknown expecting several things a wage increase for workers, and signing bonus essentially for workers, on top of that, there is going to be a plan we are expecting for idle plant owed detroit, for a new product line there, a pass for temporary workers to full time imminently health insurance costs for workers to remain same it is ultimately up to these workers to approve any contract still have not seen it they remain on picket line tell me they will stay there if they don't like the deal. >> we are going to have to think about what -- >> deal is good people will be able to go back to work i mean, people are struggling.
but we're not going back until we have a good agreement. reporter: maria one thing i think you will find interesting while democrats were publicly displacing support for union members, on the picket lines, trade adviser peter navarro was working hidden scenes to broker a deal told he played a critical role getting two sides, to this point. maria: all right grady thank you in, detroit this morning, on several weeks now strikes state of prooint companies wework struggling to go pub this year owner reportedly creating a committee to decide on financing, i spoke withiac expedia chairman barry diller about what is not working with wework so that wework is a good idea. which is to essentially for short term take a long-term
review for short term people and organize it you don't need to describe -- but wework is sound idea, of course, ran so far ahead of themselves got so wild aggressive grandiose all those things pushing beyond limits usually rubberband when you do con tracts snaps it did that. >> intaefr owns ufc league ditched plans to go public joining me is former ceo of nasdaq author of the new book market mover robert greifeld here a lot to talk about your take on brexit the news there, because you were so involved in potentially having a real foothold in london when you made the bid to acquire london stock change. >> a while ago. >> i will get to that first,
let's talk about the private situation, wework obviously, a disaster 2019 a biggier for ipos you had lewandowski uber peloton, pinterest some great oerts faultering o how would you characterize ipo market and unicorn statues in private. >> i think what we have clear evidence of is private market valuation does not have to be directly tied to the public market. private market deals tend to be bilateral you and i negotiate a price that is different than public, everybody gets to participate in the price, you can get the price wrong only two of us one can be wrong so the odds having a wrong price lai wework is higher in private context than public context. >> do you feel a private market is competitive in terms of valuations some things i don't know how they come up with valuations. >> certain this is clear proof
some are too high wework lead capital. >> uber same thing. >> important the recognize when you see those headline prices for private company valuations they are typically not common stock means there are terms to it that if economic value to it so you get headline price but real value is somewhat lower, the phrase if you name a praise to me, i will agree to that price if you agree to my terms, we are seeing that kind of a situation. public market common stock no terms different valuation. >> bob you are perfect guest to have to talk about what is going on in the uk right now we have a draft deal on brexit, where boris johnson says he has come up with a great deal actually with eu negotiators urging parliament to pass this saturday of this weekend. you tried to acquire london stock exchange running nasdaq how come you never went through with that. >> a question of price, we would he have been leathered almost 10 times if we acquired
back then. that was just before the credit crisis i have a sigh of relief it did not go into credit crisis 10 times leverage. >> you still had a big stake. >> m&a four hundred million dollars sold in a stake worked out the well for us reduced leverage but us on firmer footing to execute rest of the strategic plan. >> one reason you want to be there it was a financial hub. >> yes. >> you know a lot of business global geographically positioned very well what is your take on news this morning. >> i believe, that london as a permit position as financial hubbub independently of what happens with brexit, what happens this morning i believe rationality the end of the day wins out the we saw this deal today remits a rational action not hard exit we certainly like to see the parliament approve it in short order. >> you are comfortable with the u.k. leaving eu. >> very much so i think that is going to give the uk other
trading opportunity as, outside eu i think it is you know we're the people want to be. >> do you think parliaments approves it. >> i think they do not without quite a bit of could motioning. >> nasdaq owns nordic exchanges. >> greats maem pretty good tell me about the impact to the your horizon with uk out. >> well, i would say say i think eurounifiero zone will do quite well existed successfully separate u.s. has hundreds of years tradition agency independent entity eu lvlt new construct to say world won't work without eu, uk in eu doesn't have historical backing to it so i think both parts of europe can do well, they have about negotiated i think will be good. >> were you surprised to see hong kong try to acquire london stock exchange when you've got millions of people
in the street protesting china's authoritarian rule in hong kong. >> two factors i am sure charles ie from hong kong would have liked to move a different time because of what was going on with brexit, hong kong that seems like the worst time to do this but what i think forced his hand llc about to do a deal to extent that deal happens then llc is not containable for hong kong i think two things to respond to choose the alert. >>is trump are not a lot of exchanges holely owned to acquire. >> you have regional exchanges when you look at world financial centers new york, london hong kong, where hong kong stays that way or shenzhen beijing we don't know clearly new york london financial centers wise move. >> you tried to scomet into asia as well? >> we are in asia as technology vendor so we have basically a large number of
asian i exchanges on intelligent good thing. >> world changed so much you write about this. >> market mover in it you talk about a key lesson in leadership, after facebook's disastrous ipo as you write tell me about that. >> we had to get better, right? so facebook ipo, you and i spoke about it gave us the opportunity to reflect the okay. what was the actual root cause of this problem. we saw there was a cultural issue we had the cultural issue we did not have enough technology strength in the business to stand up to i.t. function at that time so more balancing of organization there ease to look for surface issue we wanted root cause nasdaq became better company a great company today. >> as industry has evolved data became real o important to nasdaq basically the jewel of the bit right. >> certainly is one of the
jewels data content, content is king. >> data is content, we hear about strategic wars dn and netflix but data is kent for exchanges, content is something also a of value key part of the business model i think nasdaq a great job going forward. >> tell me about book how things evolved. >> interesting in 2003 started nasdaq you can remember better than others maria the floors still there, you spent many times on the floor, we were at vanguard of the essentially, bringing electrons to the are marketplace really obviating need for a trading floor and people come to work on it every day we are living in 2003, in the aftermath of the dot com bust. >> great to yet your insights particularly talking about
brex brexit. >> british predominate boris johnson with john clawed juncker addressing media after announcing that draft deal let's listen in. >> uk by -- elected representative of the people of u.s. i hope very much now, speaking of -- that my fellow mps in -- step do now come together to get brexit done to get this excellent deal over the line, and to do brexit without any more delay. so that we can focus on priorities of the british people, improving our health service investing in 20,000 more police lifting minimum wage many, many other things jean-claude i want to conclude agreeing wholeheartedly with your final point. now is the moment for us to get brexit done. and then together, to work on building our future
partnership which i think could be incredibly positive. both for the uk, and for the eu. and i just remind you what i always said, that we are a quintessential european country, solid european friends, neighbors, and supporters and we look forward to working with you in building that partnership in the weeks and months to come thank you all very much. >> -- >> as i have jean-claude here i have to say i am happy about the deal but i am sad about brexit have a good time. >> [inaudible] . . >> the leader eu leader uk, pro claiming we have a deal as soon as they got to the podium
and they are both happy about the u.k. leaving eu we will see what happens we need to see an actual confirmation this weekend, and to see how parliament votes as fair amount of pushback we told you earlier, the brexit party leader farage urging uk parliament reject tentative deal between british government and european, you know, as they celebrate markets in europe rallying on news fhn up 67 points 1% cac quarante in paris up 3 points dax in germany up 50 points brexit boosting markets in the u.s. as fell futures jurisprudenceing uk and eu reach draft brexit deal stuart varney weighs in on that and looking at future of farming freezing weather trade fears posing is a threat. we take you live to indiana next up. ♪
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maria: welcome back, breaking news of the day uk and eu agreed on a draft brexit deal now headed to the british lawmakers joining us "varney & company" host stuart varney good morning to you. >> good morning, maria. now we have nigel farage on show 20 minutes, 15 minutes from now i understand going to say we should reject the brits should reject this deal that boris johnson worked out with european union i will ask what is his problem i want to look beyond the vote, because quite frankly maria, i can't imagine that parliament will actually turn this thing down, i mean i
just can't see that. so i am looking beyond this, and to me, this looks very positive because once the brits are out of the european, you know, they should be out pretty soon we will have a trade deal with the united states. it will be trump and boris. perfect together. new special relationship i think that is extremely positive. i think that is the way being taken on our market over here this is a plus. it is a trade plus, in the long run. going to get through that british parliament i think it will. maria: interview in a few minutes with farage will be so critical we will all be watching he says this is not just brexit that this deal binds britain to the eu in too many ways that pushback this morning. >> i just -- i just can't imagine the parliament saying no. and going back to square one or wherever it is they go book to, i mean what is it if they say no, are between what? i have simply no idea.
>> he wanted extended to october 31 then wants followed by national election so, yeah, everybody thinks he wants to become prime minister again we will be eyes glued to the screen when you interview him see you top of the hour joining stuart day 9 a.m. earn after "mornings with maria" first future of franklying he freezing weather trade fares posing a threat to heartland a closer look how artificial intelligence is helping in america's a harvest, back in a minute. ♪ ♪ it will be -- ♪ meant to be ♪ everyone uses their phone differently.
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weather to the trade imapples jeff flock in indiana with more. >> jeff keiser's farm, indiana is a tough harvest this year right. >> yields down typically when yields are down because of weather you get at least high prices, not the case. >> no prize are going to be a challenge every year access to markets is really what we need in agriculture, whatr we need to try to do best we can with crop conditions we get. >> that is what this artificial intelligence is all about show me that tablet right here this maria is what they call ibm watson decision platform. maybe i don't know if you can see this tough to hear but this is field we are in. >> i hit something funny that is our combine rolling through the field you are able with this information this
artificial intelligence can know why you got a good crop or bad crop. >> yeah so that is one of the things that has been missing in precision agriculture not to collect data we have had gps a number of years the challenge has been what you do with that information how do you actually share with experts, and get back feedback in time to do something about it ibm engineers have been able to bring information and desooifr the root cause. >> maybe we sell enough to china farmers can't produce enough i tell you this is what maximum moois -- maximum moois production. >> cool stuff thank you so much jeff flock this morning still ahead final thoughts from this all-star panel back in a minute. ♪ ♪ introducing even more value from fidelity.
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♪ maria: president trump is tweeting on the death of elijah cummings. here's what the president just wrote. my warmest condolences to the family and many friends of congressman elijah cummings. i got to see first-hand the strength, passion and wisdom of the highly respected political leader. his work and voice on so many fronts will be very hard, if not impossible, to replace. final thoughts from this all-star panel? >> i will go first. we have futures indicated higher. we were talking about the possibility of this brexit deal. we have uk parliament voting on saturday. and a u.s./uk bilateral trade deal seems like it's on the way. >> joe biden has spent almost $2 million more in his presidential campaign raised in the third
quarter. he has less than $9 million in cash on hand, four times lower than the money that bernie sanders has. he spent about $1 million on private jet travel. save those bucks as your popularity is waning. >> keep an eye on housing. housing numbers look bad. it's important to watch that sector. maria: right to stuart. thanks so much. stuart, i owe you huge for yesterday and today. have a great show. stuart: okay. good morning, maria. thanks very much. good morning, everyone. a brexit deal not yet a done deal. at this point it's a draft agreement which still needs the approval of the british parliament. but this is, in my opinion, the most promising development in many years. a key point here is no return to a hard border between northern ireland and the republic of ireland. let's bring this home for a minute. this draft agreement means the brits could get out of the european union and would then be able to negotiate a big trade