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tv   Mornings With Maria Bartiromo  FOX Business  November 24, 2021 6:00am-9:00am EST

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gonna take your money. > wow. amy and stacey found what they were looking for in sevierville. and it's a story being realized again and again all over the country. in america, dreams, and dream homes, > let's go watch a movie. > all right. maria: good wednesday morning. everyone. thank you so much for joining us. i'm maria bartiromo, wednesday november 24th, top stories 6:00 a.m. on the east coast. downplaying america's inflation crisis. president biden telling families to, quote, rest easy on inflation despite soaring prices at the pump and at the grocery store ahead of one of the most expensive thanksgiving dinners and the busy holiday season largely because of easy money and money thrown at this economy this policy out of this administration. we are on it all morning long
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this morning. markets are pulling back, take a look, triple digit decline in dow industrials, dow down 172. s&p 500 lower by 20 and nasdaq down 80 points this morning ahead of holiday tomorrow for thanksgiving. we are standing by this morning for key economic data. we've got initial jobless claims, durable goods orders and third-quarter gdp due out this morning at 8:30 a.m. eastern after mixed day of wall street yesterday, the dow and the s&p 500 finishing up while the nasdaq closed lower. big tech hurt by rising bond yields which are now at a one-month high. dow industrials up 194 at the close yesterday but the nasdaq down almost 80 points on the session. european market this is morning look like this. it is a mixed showing this morning. take a look. the european indices are down across the board. wester performer germany, docks down 122, 3 quarters of 1%. in asia overnight, mixed story, japan was worst performer here,
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nikkei average down 1 and a half down percent on the session, mornings with maria live right now. ♪ ♪ maria: morning mover this morning, nordstrom is plunging, take a look at premarket for the stock down 27% coming to report weaker than expected earnings last night, results hit by labor expenses and supply chain issues. nordstrom rack facing shortages on women's apparel and shoes. off price division adding back higher priced items to the stores, the stock losing a third of its percent this morning down 27% on nordstrom. the gap is also sharply lower. take a look at retailer cutting full-year profit and sales forecast similar issues.
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it's down 20%, the quarter was hurt by vietnam factory closures and clogged ports reporting $152 million in losses for the third quarter at gap incorporated. stock losing quarter of a percent of its value right now. rest of the market meanwhile is under selling pressure, stock futures in the red ahead of the last full trading day of the week. it is, of course, a busy day for economic data given the holiday shortened week. we are awaiting on the third-quarter gdp. the second estimate of the third quarter gdp and get weekly jobless claims. we will see if that set it is stone for markets as well. later on in the day we will get a look at how inflation is impacting consumer. all of that on the agenda today. joining me right now is chief market strategist kenny, also
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joining the conversation all morning long this morning the president of maslansky + partners, she's the pollster lee carter, also former assistant secretary of the treasury for public affairs monica crowley joining us as well. thank you so much for being here. kenny, great to have you join the conversation. first let's talk about the macro story and this economic data that we are coming to get this morning. what are you expecting the holiday season quickly approaching with black friday only a few days away. that's going to be real critical in terms of how the consumer is doing. what are you expecting? >> well, listen, the consumer, good morning to you, happy thanksgiving. the consumer has already expected to be a strong, strong participate this holiday -- participant this holiday season right and sales have started to surge and black friday in my opinion is kind of late in the game because i think the party has already started. one way or the other getting to today's data there's a slew of
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data, it's wednesday before thanksgiving, a lot of people away from their desk. i don't think it's anything that will drive the markets other than the fomc minutes because everyone is going to be listening and parsing through every sentence looking for language, terminology that somehow going to glen information that maybe jay powell is not saying out loud or anyone in the fed is saying out loud and that's going to drive, i think, what the action is going to be, i don't think the economic data unless it miss completely is going to drive the action at all. maria: yeah, you make a great point. you mentioned jay powell. i guess pretty good sigh of relief that president biden is reappointing jay powell for another term of the federal reserve. your thoughts there in terms of what it means for policy and let's not forget energy policy. we've got energy prices this morning pulling back but president biden announcing that the u.s. and other countries will tap their strategic petroleum ree serves in an attempt to alleviate pain at the
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pump going into thanksgiving. here is the president, watch this, don't expect costs to drop soon by all that much, watch. >> this coordinated action will help us deal with the lack of supply which in turn help ease prices. our combined actions will not solve problem of high prices overnight and will make a difference and will it take time but before long, you should see the price of gas drop when you fill up tank. maria: we will see about that. 65 to 70 million barrels will be released between the united states, china, india, japan, south korea and the uk, that's a little more than half of the world's daily consumption but you're not really seeing that big of a move on the price so far. your thoughts? >> quite honestly what they didn't think about in the administration is what is going to be the response out of opec. don't be surprised if opec said,
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maybe we will cut back on protection and try to control the price gains that we have. you want to bring oil out, we will cut oil back and there's a push and pull in the end since opec in russia are really controlling these days the price of oil. i'd have to be in their camp because they are the ones who are going the drive the price. release from is not enough that will affect, you know, it's not going to cause oil and gas at the pump to drop 10 or 15 cents for any extended period of time if it does that at all. a couple of cents for a couple of days maybe i don't think -- but i don't understand where this is going. maria: yeah, word on powell, what are your thoughts on biden's choice to reappoint jay powell as fed chair promoting lyle brainard to vice charm and signaling continuity and monetary policy. big question what will happen with the regulatory side of
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things and who will take over randy and is that going to be a pressure for the major banks, the reserve top banking cop will reserve in december. powell said whoever fill that is seat will be really critical to the central bank's approach to regulating the major banks. >> i think that's right. first of all, i think the powell reappointment was the right thing to do, elevating brainard was right thing to do. it was expected and in that sense the market wasn't surprised. it might have been more of a relief that they were keeping the same captain at the helm as we go into 2022 and what is going to be surely be a turbulent time as we do the tapering of potential risk increases. it's anyone's guess who they are going to appoint but i would suspect whoever the person is, it will get a lot of support from the progressives on the left because they will push hard starting with elizabeth warren trying to put someone that's going to in her view really
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regulate the bangs even more so than they're already regulated. you have to watch for that. that's the wild card. maria: kenny, it's been a great year for stocks. s&p 500 shown a gain of, what, 25% or so, how are you feeling about stocks and investing in this market at these levels toward year end into 2022? >> so here is what i think. i'm not chasing the high-growth names and sexy names, nasdaq sold off. that's not any reason to light the place on fire. new money i'm putting to work in cyclicals and i'm worried as we move into the end of the year as santa claus rally already happens since the s&p was up nearly 10% since october but now there's going to be some more thought about, okay, should people pay gains and pay current capital rate gains or are they
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going to risk into next year. do i think we are at the top of the year but i'm putting money to work in the sectors that i just said. maria: all right, kenny, have a beautiful thanksgiving. good to see you and we will catch up after the holiday. >> great, bye, bye. >> all right, kenny joining us there. some of the top stories that we are watching this morning, the parade tragedy in wisconsin claiming another victim, 8-year-old jackson sparks died from his injuries following the vehicle attack on the wakasha christmas parade. darrell brooks faced muff lower bail just days before the attack after being arrested for punching his girlfriend in the face. his bond for that attack just $1,000 and just like that he was out on the street again able to
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cause the tragedy in wisconsin. residents are claiming don crisham, is there going to be an individual i divert or put into treatment program that is going to go out and kill somebody, you get, guaranty he said. a sixth intentional homicide charge is expected within days following the child's death, several children and adults in critical condition in area hospitals this morning. meanwhile joe biden is still pushing a vaccine mandate despite the court ruling against it. the biden administration is asking a federal court now to move ahead with a workplace rule requiring employee to be vaccinated against covid-19 or face testing every week. the mandate is the center piece of the administration's claimed efforts to contain the spread of covid. republican state attorneys general conservative organizations and many businesses that osha lack it is
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authority and such a &ate is unconstitutional. in san francisco nine people facing felony challenges after string of smash and grab robberies. the city's district attorney criticizing the police for only making a handful of arrests despite reports of up to 100 people being involved. in los angeles, a large group of people taking off with thousands of dollars worth of merchandise during a smash and grab robbery there at nordstrom. that was monday night. 3 people arrested in that and all this as some are criticizing the use of the word looting when describing upscale theft in california saying it's racist. now we're not allowed to call it looting. chinese tennis star peng shaui assault boycott for next year's olympics, gordon chang is here
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along with tennessee marsha blackburn. we are getting you ready for thanksgiving. ceo of stu leonard with take on inflation and how much can you save on shopping and how much price have again up for the staples that we are eating this saturday. thanksgiving travel puts airlines to the test. what to expect when you're heading to the airport? a lot coming up. you're watching mornings with maria live on fox business.
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maria: welcome back, well, both lebron james and the nba weighing in on the kyle rittenhouse verdict but continuing to stay silent on china and tennis star peng shaui
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lebron james accused kyle of faking tears, what tears, that boy ate lemon heads before going to court. our thoughts are with the families of those whose lives were taken in this tragedy. the right to peacefully protest is a bedrock of our democracy. any forms of vigilantism in our society are unacceptable writes the nba. we know that peng shaui had gone missing after accusing vice premier of the ccp of sexual abuse when she did so she put that on waymo account. the post was taken down within minutes and her footprint on social media was completely gone and then she was disappeared for two weeks, no mention of that from lebron james or the nba. lee carter and -- lee and monica are with me this morning. lee, your thoughts on what we are hearing from lebron james,
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no mention of the genocide taking place in china. lee: i'm not surprised at all that he would take a stand on the rittenhouse trial and all issues related to that. that's certainly not surprising, but what is surprising such an important figure in the nba and the nba is so important in china and so the impact of nba and figure like lebron james can have humanitarian issues, this is being one of many that we are seeing in china, he could have a really big impact and not doing his platform to do something that could be really important in a place -- i mean, it is most popular sport in china by far and -- and he is sort of the icon of it. he could be using the platform to have real impact and make a real difference and he's not. maria: yeah, monica crowley, the ceo and chairman of jp morgan was speaking at a conference this week about china and here
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is what he said. jamie dimon quipped that his bank is likely to outlast communist party. dimon said at panel discussion at boston chief executives club. i make a bet that we last longer in the ccp and he says that jp morgan has been operating in china since 1921, he says, look, i wouldn't be able to make the jokes of outlasting the party if i were in china i realize that but officials there are listening to remarks in boston anyway. your thoughts on what jamie dimon said about the ccp as he gears up to own 100% of his firm within china as the ccp gives him and wall street banks a honey pot and lobby for the ccp policies in the u.s. >> maria, i'm glad to hear that jamie dimon has full confidence
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in free capitalism to outlive communism. i hope that he's right. getting back to lebron james, big star has been calling out lebron and calling out the nba and saying basically, look, you're willing to speak out on all the other social justice issues, how about the biggest of them all which is the human rights abuse that's going on in china. of course, they are quiet about that because the chinese market is so huge. again, we -- we had long expected that if the united states and the west engage with china economically that china would change come along to a more capitalist free market system. we haven't seen that. we have seen a hybrid in china but we have also seen a lot of horrors coming along with it and china now is the number 1 strategic adversaries and economic adversaries of the united states. so behooves all of us including ennis kanter, he's showing more
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moral courage than lebron james, the democratic party and press combined and good for him and we need more voices like him and jamie dimon speaking out. maria: yeah, you're slightly right. ines kanter has had courage, he will lose money and friends because of it but he certainly has that moral courage and integrity. quick break and then the republican push to take control of congress. tennessee congressman chuck is here, we will talk with him about where we stand on policy when we come right back. stay with us. ♪ ♪ ♪
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maria: welcome back, more resignations on the democrat side as republicans look to capitalize on president biden's plummeting poll numbers and take back the house. the national republican congressional committee which focuses on soaring prices and failed policies in new ad campaign coming after home depot ken lagone joined me
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highlighting the build back better plan and how it would impact americans, watch this. >> to pass this reconciliation bill is totally irresponsible. inflation is the most regressive tax and i think these people to be talking about flooding and walking now with more dollars, that's what this will be, is only going to exacerbate an only serious problem and i think this bill will put gas on the fire. maria: joining me to talk more about that tennessee congressman and appropriation's committee member, thank you very much for being here. you heard what ken langone, businessman, cofounder of home depot and has his hand in a lot of businesses, know it is impact of policy, where are we on this reconciliation plan? is this going to be a priority for year end for your colleagues on the left? >> well, we have got to stop this. we have got to pled with the
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united states senate to basically say no to the house bill that was passed last week. i was hardly disappointed when i was on the floor just watching those moderates cave in to nancy pelosi and the radical left. this bill, the american people need to know is jam-packed with things that will hurt this country for decades to come, they'll make us less competitive and, yes, it will drive inflation through the roof. maria: yeah, i know, but aren't we here right now because of your colleagues and the republican party? i mean, 19 senators signing on to the infrastructure plan and then in the house you had 13 members as well signing on. where are we in terms of unity in the republican party even as you're seeing resignations line up on the democrat side. >> well, maria, i share your frustration with those members
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in the senate and the house who went the other way. i was a steadfast no to pelosi-biden-schumer programs that they have put forth, all of the bills have been flawed and all the bills are bad for america but i think that we have to realize we are where we are and we have to stand and fight against this reconciliation bill. if they pass this bill once again, we will be imperiled, we will be hurt for decades to come. i've said this before, it will make the new deal in great society look palm tree. it's horrible, it will pack in programs from amnesty to things that we cannot afford and i will say this, i've talked to folks who were in manufacturing, inflation is booming, the real numbers are going to be seen lately. they will come out later after the ill-evenings of this bad legislation so we've got to stop it now. let's home sinema and manchin put their foot down along with
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others. maria: yeah, we are told that there are other democrats in the senate who are also pushing back in addition to manchin and sinema but give us your take on what's going on in the democrat party. you are seeing lots of resignations. what are we up to 17 people who are either resigning or retiring on the democrat side. what does it mean for the gop and you're right, kevin mccarthy tweeted out the other day she's burning down the house on her way out of the house pretty saying they are pushing the plan through, doesn't matter if the gop gets the majority next year if this plan is already in place and has fundamentally changed the economy does it? >> i agree with you totally and remember this, nancy pelosi said 4 years ago she said she was going to retire after four years, this is her farewell tour. i don't want it to be america's farewell tour. this is about the left-wing agenda. i was screaming from the top of my lungs when the two senate
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seats went from republican to democrat. i knew it was going to be difficult after the presidential elections. this was sad, the georgia runoffs. it's put us in the position sadly as a party, as a republican,s a country at the mercy of the democrats in the senate, the house and sadly the white house which doesn't know what's going on right now literally. it's about their agenda. we need to stop it for the american people. this goes beyond party. it goes to save our great free enterprise system and goes to restore our economy. i'm sure the country is missing president trump and his policies right now, the polls show that, we know that but we are stuck until we get a change in leadership. we will get that let's hope it's not too late. maria: congressman, good to see you this morning. we will be watching your efforts for sure. you're on the front lines there and in the appropriation committee there. happy thanksgiving to you. we will talk soon.
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>> happy thanksgiving to everyone in america. god bless you. thank you. maria: yes, and to you. ♪ ♪ ♪
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maria: welcome back, good wednesday morning, everybody. thank you so much for joining us. i'm maria bartiromo and it is wednesday november 24th, take a look at market this is half an hour, we are looking at a selloff underway although off of the worst levels of the morning. the dow industrials down 125 and the nasdaq lower by 45 right now. we are standing by for key economic data this morning. remember this is a holiday shortened week. a lot jammed in this morning. durable goods order and third-quarter gdp all due out in 2-hour's time at 8:30 a.m. eastern and we will get you check of the numbers and see if it impacts markets as well. dow and s&p 500 were higher by the nasdaq finished lower, big tech has been hurt just in the last few days by rising bond yields which are the a one-month high, dow industrials up 195
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points but the nasdaq was down 80 points on wall street. european markets this morning are inching lower. take a look at euro zone right here where we do see covid cases spiking and that has created some worry in the euro zone. ftse 100 in london up 3 points but the cac is down 20 and the dax index in germany lower by 98. in asia overnight, mixed story, japan was the worst performer. nikkei average in japan down 1 and a half percent on the session. the others moving fractionally overnight in asia. back in the u.s. former new york governor andrew cuomo is under fire as the new york state assembly releases new reports on multiple investigations around the former governor. the state assembly finding that the governor sexually harassed 12 women including 7 staffers. he lied about the number of covid-19 nursing home deaths and he pressured state employees to help write his $5.1 million pandemic memoir.
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we are talking about this right now with new york state attorney general candidate michael henry. michael, thank you very much for being here this morning. look, trying to take politics out of this, give us your reaction to this report. >> my reaction to this report is that the governor who portrayed himself as national pandemic hero was nothing but a corrupt pandemic profiteer who was unfit for office. >> look, he has suggested recently that he wants his old job back. you're running for new york state attorney general, there are 6 confirmed candidates wanting that job right now and it looks like cuomo is one of them, 3 democrats, 3 republicans, former governor cuomo reportedly planning to -- to go for it and try to run to get his old position back as attorney general. tell us about your efforts and your thoughts on cuomo being a competitor here for you. >> right, i actually announced
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while andrew cuomo was still governor, ironically i was on your show and as i previously said, he's nothing more than a pandemic profiteer and he should be looking at a prosecution instead of parading as a potential candidate because quite frankly new yorkers are fed up with this brand of politics which in this case not only led to the deaths of thousands but also the cover-up of thousands during the worst of the covid pandemic. maria: yeah well, what are your priorities, michael. tell us what you plan to do should you win as ag. >> my plan that i will focus on is 3 c's, the first one is crime, there's a lot of criminal justice reforms that have been passed in the state that have led to a rise in crime that's completely unacceptable, all of the politicians have gone very far left whether it's bail reform, the governor's -- the
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former governor's parole board and parole that's coming up next and a lot of decisions are jeopardizing citizens on a daily basis and the final one is covid justice and we need to one get to the bottom of what exactly happened in the nursing homes and then secondly what was going on with the governor staff where they were clearly working and using government resources to help enrich for his own personal gape and book deal that came out to over $5 million. >> do you think he could actually have a shot to get back into politics and win as the potential ag or any job post what we have seen? what are your thoughts of him wanting back in? >> look, do i think he's a good person, no in. do i think he was a good governor, no. he's a good political operative and nothing would surprise me but i think there's also another element that people aren't
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thinking about. he has a lot of money left over in his war chest and utilizing right now to have lawyers go on live stream and former staffers attack people in the media on a daily basis and if he's floating himself out as a political candidate it looks like he's utilizing the resources for a political campaign so i think there's an element of that here where it could be him just playing a little bit of a game to be able to utilize this war chest of his and i'm not surprised if he did it but i'm not exactly sure what is going in his mind. it's not going away because that's all he knows. >> monica crowley is with me this morning, monica, jump in here. >> michael, i live in new york and i'm glad that you're running in this office. we need to keep two things in mind when we talk about andrew cuomo, number 1 he's still under investigation by the fbi and the doj. we have to see thousand those investigations pan out. but secondly, i think there are a lot of democrats in new york
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state and maybe nationally who wanted him gone which is why you saw it get to the point where you have the investigations in the state and you had him pressed to resign, what is your sense of where the democratic state is right now and would they welcome a return by andrew cuomo. >> no, i think the democratic party in the state, there's two factions right now. there's the faction that wants latisha james for governor which they utilize today get rid of the governor in a politically expedient way and then the side, which is the kathy hochul side. the state democratic party chair is actually very close friend with the governor and has been supportive kathy hochul. i think that the party is moving left, far left and i think that andrew cuomo outstayinged his welcome and i believe that what we are going to see even as we see with kathy hochul picking somebody pretty far left as
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lieutenant governor is that i believe he kind of outstayed his welcome but the other thing that people forget about andrew cuomo he did play well for in conservative areas for a democrat. he was able to convince the public he was one of them even though he never was. maria: yeah, he kept saying i'm cutting taxes even as he was raising taxes. >> exactly. maria: michael, let me get your take on one of the policies that governor cuomo oversaw and that was the elimination of cash bail and the impact has been just stunning and so dangerous on the population. we just saw what happened in wisconsin, a similar situation, the impact of no bail, no cash bail, putting prisoners and criminals back on the street enabling them to create more chaos and crime. what would you do as ag with regard to cash bail? >> well, one of the things that i would do is push to get more republicans elected to the state senate and my position has been
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clear. i believe that the law should be repealed. i don't believe that you have a bad law and keep making amendment which is potentially makes it worse. my position number one is i would push to have bail reform repealed and hopefully enough republicans elected so that they could pas a new law. second is stop the war on the police. my father was a police officer. i believe that what they're doing right now is causing a division where communities and the police have a disconnect and then lastly i would do everything in my power to stop the rest of the criminal justice reforms like parole reform that are coming and also work to fix what's going on in our prisons which is an untold stories that corrections officers are literally being attacked on a daily basis. there's a lot of work that has to be done and i don't see anyone in the democratic side that's willing to say what needs to be said and this is dangerous and this is going on a daily basis and needs to be fixed. >> well, that's quite extraordinary. michael, we will be watching the new york attorney general's race
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and we -- >> have a happy thanksgiving. maria: and to you, thank you, sir. quick break and the red hot housing market still going strong. we went last. taking a look at top trend buyers and sellers can expect in the new year. yes, the new year is 30 days away. that's coming up and don't forget to tune in to fox business prime tonight, american gold, the legend start at 8:00 p.m. eastern followed by the pursuit with john rich at 9:00. you're watching mornings with maria live on fox business. stay with us. ♪ ♪ ♪
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maria: welcome back, the housing market on track for the best year in more than a decade. what to expect in 2022 especially if we see rates rise next year. we are on it in two-minute's time.
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maria: welcome back, it's been a red hot real estate market, the industry on track to have its best year since 2006. the national association of realtors reporting increase in home sales for the second straight month. joining me right now is trulia founding team member and the cofounder and ceo of noch sean blackburn. assess the market and what has been the strongest part of the market. >> i think it continues to be a challenging market for buyers. as you said home prices are up
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13% year over year to $354,000 but inventory is down 12% so it continues to be a definitely a seller's market, we are heading towards a better year of 6 million homes sold which as you said the most we have since 2006 and we e see that continuing in 2022. maria: so sean, where are the highest priced homes right now in the country, can you go through geographies for us and tell us where you're seeing the most expensive and the least expensive in terms of price hikes? >> yeah, we did a report about this about a week ago but i can tell you in the secondary cities and surrounding areas, urban markets where there's bigger concentration we see abnormally spikes in prices and the days on market are much lower than average, two-thirds of our homes are selling in less than ten days rather than the national
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average days on market which is closer to 18. so you see this wave of people buying, moving from large cities in the secondary cities and surrounding areas like markets like atlanta and charlotte and raleigh and phoenix arizona especially as incredibly competitive market where home prices are rising the faster. maria: now is this bubble material do you think or is it sustainable? what are you expecting in 2022 as interest rates are expected to start moving up? >> yeah, no for sure. look, i think there's an equilibrium to be had for sure. we need a more modern market, i think interest rates rising slightly might be welcome in so much it would release demand and supply equation. we do think it's going to continue to be a robust 2022. we expect the buyer activity to -- to accelerate again just after christmas as it normally
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does. we hope that there's more inventory on the market for buyers and slightly higher interest rate might be welcome just to release of demand and the supply in the markets, more people can actually find their dream home. maria: yeah, i guess what i hear you saying is the supply is short and that's one of the reasons that this market could stay elevated in terms of price increases. i mean, there's a limited amount of supply, right? >> yeah, even if the interest rates go up, we are still down around 3% which is historical lows so in theory, people are more able to afford a home than ever but the inventory is creating price appreciation that is somewhat unsustainable and price back out by not being able to either compete with others on a particular home that they want to buy or the price itself is just too high, right, so there's a moderation if the home price
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-- if interest rates were to raise a little bit then maybe the demand meets a little bit and maybe you have an opportunity to buy a home. maria: sure. all right, sean, we will be watching all of that. great talking with you this morning. sean, thanks so much. sean black joining us this morning. >> thank you, maria. maria: see you soon and to you. busiest part of the year, are you part of it, we are live with what to expect if you're headed to the airport and on the roads this morning and throughout the day. stay with us. ♪ ♪ ♪
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maria: welcome back, it is the busiest travel day of the year. the day before thanksgiving. airports will be put to the test as we are expecting travel to return to near pre-pandemic levels. madison alworth live this morning from newark liberty international. madison, what are you seeing, good morning to you. report report hey, maria, we have been here for over an hour and the place has been packed. people just coming in for those thanksgiving flights. like you said, this is one of the busiest travel days of the year and this year has really seen that resurgence of travel. tsa is expecting that they'll be screening 20 million americans this thanksgiving week. that is close to the 2019, 26 million. this year has been hard to orline industry. they are still dealing with cancellations and issues with staffing so all of that will be put to the test as people fly home to see family and friends for the thanksgiving holiday.
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still pretty early but let's take a look at the delays and cancellation that is we are seeing so far for airlines. so this is what it's looking like today. like i said still pretty early. yesterday there were over 3,000 delays and on monday there were over 4,000 delays. moving in the right direction and obviously the hope is for today that we continue to have a lower number of delays because not much time to delay thanksgiving is tomorrow and even though it is early, you can see the skies, there are lots of flights up there. airlines like united expect to be the busiest since the pandemic began in march of 2020, they should be breaking records on this sunday and to avoid more problems a couple of the airline that is have experienced cancellations like american express, american express, american airlines as well as southwest, they have been offering bonuses and things like that to make sure workers are here but if you're flying out of newark, maria, bad news. this airport has the worst record for delays.
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so if you're coming here, tsa recommends two hours and that's something across the board, maria. maria: wow. all right, that takes me back to pre-pandemic. madison, thanks very much. madison alworth this morning at newark, we will see you later. thanks very much, madison. i'm with lee and monica this morning. lee, you normally don't want to see those kinds of crowds at the airport and you don't want to have to wait when you're traveling but i don't know, i'm feeling good to look at levels that are getting back to normal, pre-pandemic numbers here, lee. lee: it does feel good and i think everyone this year has so much to be thankful for. you think about the contrast of this year with last year, last year so many people were still afraid to see family, afraid to get together and this year we are back at it, back going to be together to celebrate and i think that's great. i know it makes people uncomfortable to see those kinds of crowds but i think it's amazing. maria: monica, you are seeing
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new lockdowns in europe and there was -- there was a county in california actually that's putting back a mandate for mask wearing even inside right now. >> yeah, it's really amazing to see, maria, we could understand that last year when the emergency was brand new and nobody knew hawaii the virus wa- how the virus was going to behavior and now we know caused psychological damage, no more lockdowns. maria: word on wall street next hour coming up. intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that.
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♪ ♪ traveling has always been our passion, even with his parkinson's. but then he started seeing things that weren't there and believing things that weren't true. that worried us. during the course of their disease, around 50% of people with parkinson's may experience hallucinations or delusions. and these symptoms can get worse over time. nuplazid is the only approved medicine prescribed
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to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the common side effects are swelling of the arms and legs and confusion. now this is something we want to see. don't wait. ask your healthcare provider about nuplazid. maria: welcome back. good wednesday morning, everybody. thanks so for joining us, i'm maria bartiromo. it. is wednesday, november 24th. your top stories, 7:00 a.m. on the button on the east coast. taking aim at china's communist party, jp morgan chase chairman and ceo jamie dimon makes an offhand joke about the bank outlasting the ccp. what it could mean for his
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business now that he secured 100% control of a china venture. markets are pulling back, we have a triple digit selloff of the dow industrials t dow down 113, s&p 500 down 12, nasdaq lower by 45. we're standing by for key economic data this morning. we've got initial jobless claims, durable goods orders and third quarter gdp on the docket for 8:30 a.m. a this morning, we'll get you those numbers and see if they impact markets. this a after a mixed day yesterday, the dow and s&p 500 were higher. the nasdaq closed lower, big tech hurt by rising bond yields which now are at a one month high. the dow industrials up 194, but the nasdaq down about 80 points at 4:00 on wall street. let's check the eurozone, european markets are mixed and we see fractional moves across the board, ft 100 is up 9, cac is down 10 and dax index lower by 93. in asia overnight a mixed story. japan was the worst performer,
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nikkei average down 1 and two thirds percent on the session. "mornings with maria" is live right now. now some of the top stories we are watching this morning. the parade tragedy in wisconsin claims another victim. 8-year-old jackson sparks has died from his injuries following the vehicle attack on the waukesha christmas papa raid sunday. walk you shaw judge kevin costello setting bail at $5 million but darryl brooks faced lower bail days before the attack after being arrested for punching his girlfriend in the face and running her over in a gas station parking lot. this bond for that attack was just $1,000 and then he was out on the street again, able to cause tragedy in wisconsin. residents are blaming progressive milwaukee county da who said back in a 2007 interview, quote, is there going to be an individual i divert or put into treatment program who
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is going to go out and kill somebody? you bet, guaranteed. a sixth intentional homicide charge is expected within days following the child's death. several remain in critical condition in area hospitals this morning. the biden administration will require all truck drivers who cross u.s. land borders to be fully vaccinated by january 22nd. the mandate will aply to all essential nonresident travelers crossing u.s. land borders including government and emergency response officials, not the same rules for illegals coming into our country, by the way. the american trucking association warning the mandate could worsen the supply chain crisis. the nation already in desperate need of tens of thousands of truck drivers and this is going to keep many of them off the wheel. elon musk selling more shares before the end of the year, the head and founder of tesla exercising more options, selling stock valued at just over $1 billion. since he posted the twitter poll
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on selling stock, musk has sold 9 and a quarter million shares worth $9.9 billion. the stock continues to trade down, it is edging lower this morning, ahead of the open by almost 1%. time for the word on wall street, top investors watching your money. joining me right now is the fitzgerald group principal, keith fitzgerald, founding partner greg swenson and chief investment officer for global liquidity markets, debbie cunningham. thank you for being here. greg, kicking things off with you. it is the final full day of trading for the week. we'll get the latest readings on inflation, personal income and spending data as president biden is pushing his nearly $2 trillion spending plan which the committee for a responsible budget says is actually $5 trillion. greg, what's your take on the reconciliation bill and its impact on inflation? >> yeah, -- maria, it's a great
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question. not only is it build back stupid, not build back better, it's really bad timing. not just a demand function. yes, throwing 4 trillion, 5 trillion into the economy is going to over-stimulate demand. they've been doing this for several years now with the 1.9 trillion in march, the 4 trillion in the prior year so this is bad timing on top of all that. it's not just the demand. it's also the supply side. in the build back better bill there's all kinds of destructive supply side issues. if you buy into the argument that inflation is transitory or caused by supply chain issues, it's actually -- then why would you add more regulations on the supply side, why would you create more hostility for job he creator as well as corporate taxes are often passed through, but still hostile to the job creators that biden is talking
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about. maria: yeah. i mean, we don't know if this will go through, there's a fair amount of pushback on the democrat side in the senate and certainly they won't get any republican votes for this. but do you think that it will cause markets to sell off, from an investment play as they continue to push this through, how you does it impact our investing? >> well, maria, in the short term it's probably good for the markets. stimulus usually is. and i think that's what's the shame about wall street, that always seems to trade up whenever there's another trillion or two thrown into the economy. but as you know, the private sector is a much better allocator of capital in the medium and long term. whatever they get through the senate it may not be the 4 or 5 trillion. they may reduce their so-called number which is 1.75. even -- or 2.75. even if they cut back significantly, it's still reckless, it's still destructive to the economy and it's also the
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tax and regulatory burdens like the methane fee which is going to jack up gas prices or heating prices 17% this year you've got more hostility to the supply side. so in the near term i think it's good for the markets, in the medium and long term it's awfully destructive. maria: so you mentioned oil. let's talk energy, keith. the u.s. and other countries are now tapping the oil reserves to try and alleviate the pain at the pump. you're talking about oil and gasoline up 50% year over year. president biden is unsure of when this is going to have an impact, keith. you say prices are here to stay unless production actually picks up and, you know, biden killed the xl pipeline on day one. we were energy independent. >> well, we were. and here's the thing. he turned opec into nopec. russia and china have every incentive to keep prices high. so does opec at this point. they know, pardon the pun, they've got is over the barrel
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on this one. releasing 50 million barrels sounds good. that's 2.5 days worth of consumption in the country. that isn't going to move the needle. i think we've got $100-barrel oil on the horizon, maybe 120 next summer or higher. the solution is right in front of him. he won't take it because of political reasons, not because he wants to help americans. maria: that's interesting that you're talking about 120 by next summer. that's sure to cut into the macro story, doesn't it, debbie? we've got a busy week in terms of the macro story. we've got retail earnings that we've been navigating this week, we're seeing a route this morning in shares of nordstrom and gap. they are selling off big-time. partly because of the supply chain crisis. they reported quarterly numbers last night. they both missed expectations, they're blaming weak results on supply chain disruptions, debbie. what does this tell you about the broad retail story? nordstrom down 26%, began is down 20 -- gap is down 20% right
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now. we're headed to black friday. what are your thoughts? >> i think the expectations are that consumers are ready to purchase. the real question, maria, at this point is are there goods and services that are available and ready to be purchased. you know, we saw goods inflation in the summertime. that started to fade away as some of the supply chains abated. now that we're in the holiday season, those supply chain issues and the supply demand imbalances that that's causing from a goods perspective are sending inflation higher and it's a question whether wage inflation, employment from a personal income standpoint are willing to -- and savings are willing to tolerate that and continue to spend anya way. the services side of the equation is just another issue where i do think you will see the services side continue to be
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pretty hot and continue to perform well from a sales standpoint. that was sort of the second leg in the inflationary story and i think it will continue and there you're looking at something that's more like a labor shortage where we expected people to return to the workforce en masse once the unemployment benefits ended in september. that hasn't happened as much as we thought it would. so to some degree with the huge amount of savings that have been amassed i think people are willing to live on those savings for a while. does that mean they're going to purchase highly priced goods and services? it's a question. the expectations are high. i'm not sure we can meet them. maria: that's what i'm saying, does this all catch up with us at some point and cut into the macro story an consumers start pulling back? >> we do think will be the case. and really the devil are in the details. if there are certain items that are highly sought after, it
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really probably doesn't matter what the price of those items are or what the timeframe for delivery is but if it's sort of aunt and uncle gifts that could be a, b or c, whatever is in supply and whatever is not necessarily inflated from a pricing perspective is going to be the winner in those cases. maria: come on, the aunt and uncle gifts, i hope my n they at thinking about that for me. >> i hope my nieces and nephews aren't watchings. maria: thank you so much for the great word on wall street. coming up, chinese tennis star peng shuai's assault allegationses president putting the ccp in the spotlight for the world to look at, bringing new calls to boycott next year's olympics in beijing. gordon chang is here along the
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tennessee senator marsha blackburn will get into it and the ceo of stu leonard is here. he will join me with his take on inflation and can we save money on last minute thanksgiving shopping. he has a thing or two to say about that. thanksgiving travel rebounding to pre-pandemic levels. it might be a nightmare at the airport this morning. how the industry is keeping up. what it means for your travel plans. joining the conversation all morning long, lee carter and monica crowley. we'll get back to the fantastic panel when we come right back. you're watching "mornings with maria" live on fox business. it'♪ ♪♪feel like throwing my worries away♪♪ ♪♪as an old native-born californian would say♪♪ ♪♪it's a most unusual day♪♪ ♪♪it's a most unusual sky♪♪ ♪♪not a sign of a cloud passing by♪♪
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maria: welcome back. well, a very woke san francisco district attorney says his office has filed criminal charges against nine people involved in an organized theft
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ring at at a louis vuitton store last week. the smash and grab crimes are spreading across the state of california. police in los angeles say that a group of thieves raided a nordstrom at the grove on monday, using a sledgehammer to crash the windows. some experts are pushing back, saying it should not be called looting. i would like to know who the quote, unquote experts are. they say the term is racist. lee carter, now we can't say what's happening is actually what's happening. don't call it looting even though they're looting because they claim it's racist. your thoughts? lee: well, i mean, the term has a definition in a dictionary and it's defined as exactly what we're describing and so to try and suggest that it's racist i think is actually perpetuating a problem, right. i mean, we're continuously
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calling everybody racist. i don't think this is really adding any value and connecting people and bringing people together and by making language i think more divisive than it needs to be, i think we're calling you attention, making people nervous. people are walking on egg shells when they're talking. we're not going to be having conversationses across the aisle. this is the kind of thing that keeps people separated, doesn't bring people together, working against what the objective is of people that are trying to come up with rules on what language should be. maria: yeah, i mean, monica, it's also an effort to just forget about the actual crime. they broke windows, used sledgehammers to get into sores, looted the stores, stole products and left. and now we're having a debate on what it's called? how about the nordstrom that just lost all of their products and that revenue and how about the cost associated with fixing their stores after the looting? i mean, this whole racist
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narrative is just beyond. i mean, the worst was when actually pete buttigieg actually answered somebody's question, said yeah, roads and bridges are racist. what? monica: yeah, you know, maria, the left definitely knows that when you control the language, you cross the story and the narrative. so this is all a giant distraction. it's all meant to distract you from the actual event and the actual policies that led to all of this. we're seeing all major cities in the country experience a giant crime wave. so instead of focusing on the semantics of the language, these folks should actually be prosecuting the crimes. what we know from experience from the 1990s on, particularly starting in new york under rudy giuliani is the broken windows approach to crime really does work, that if you prosecute the lower level crimes like graffiti, like broken windows, like turnstile jumping,
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you will end up preventing larger scale crimes including violent crimes and including these kinds of smash and grab organized crime operations. but the left has really infiltrated into local offices including local das all across the country, supported by george soros and now we're seeing the results of this and the folks who are really bearing the brunt of the spike in crime are the folks who live in those neighborhoods, small businesses an even bigger businesses like the nordstrom's that got attacked the other night in san fran. maria: you are spot-on. they are out of touch with america. we're going to take a break. when we come back we will tell you just how out of touch this administration is, we'll talk about the impact of the biden administration's policies with florida congressman greg steube when we come back. a presidential snub, president biden appears to give vice president kamala harris the cold
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paid for by the u.s. department of health & human services maria: welcome back. democrats are pushing their massive social spending agenda with just a few legislative days left in the year. they're still trying to ram through immigration reform as part of the reconciliation package. democrats staff reportedly met yesterday with the senate men tearan, including a provision for illegal migrants, allowing work permits, permission to travel. even though the parliamentarian ruled out including a pathway to citizen sship in the bill twice because it's not part of the rules. the democrats are saying they hope when the plan for migrants was not completely ruled out yesterday, maybe they can still jam it through. joining me now, florida congressman greg steube.
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good to see you this morning. thank you very much for being here. what do you think makes it in the bill and what doesn't? obviously, the democrats are trying to put everything but the kitchen sink in this reconciliation package. will they be successful? >> i just want to remind your you viewers that this bill's already passed the house and there's was only one democrat that voted against it. so the democrats who claim to be moderates, this is the most expansive bill that gives illegal immigrants legal status. every illegal immigrant that's currently in the country, the parliamentarian twice in the senate said you can't include that in a budget reconciliation package but that hasn't stopped the democrats even the squad and far left progressives and socialists have said let's ignore the parliamentarian senators and move forward with the bill. i hope the self proclaimed mod rests in the senate like joe manchin and sinema will have their heads around them with this reconciliation package and not allow a bill that will give legal status to every single
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illegal immigrant that's currently present in the country upwards of 11 million of them status in a reconciliation package that's only supposed to be budgetary in nature. maria: we wouldn't be here if not for the republicans who voted for the infrastructure package, right? i mean, you had 19 senators and 13 house members go with the democrats, opening the door to this discussion on reconciliation. >> yeah, and the thought process by some of them i listened to their reasoning was, well, it will make it harder for the moderates to vote for the reconciliation package if we give them the infrastructure package. well, all they wanted was the infrastructure package. that's what pelosi was holding over the heads of the moderates was if you vote for the infrastructure package, then we need your vote on reconciliation, so the thought process there blows my mind and the fact that we have republicans who now have given nancy pelosi and joe biden a win is just absolutely unfathomable. i hear it back in my district, i
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hear it everywhere i go. it's not what we should be doing of. we should be sticking together and defending what america truly feels and this package, reconciliation giving legal status to millions of illegal immigrants is not where america is today. maria: well, i mean, every policy out of this administration has been a failure. looks like the only people joe biden can beat are republicans. look at what he's doing now with regard to energy. biden is p tapping 50 million barrels of oil from the strategic reserve in an attempt to impact prices at the pump because prices are up 50% year over year. the reserves were built up thanks to former president trump last year by the way, because president trump in 2020 saw oil prices of $31 a barrel and said let me buy oil at this price, fill up the reserves so we have it just in case we're in a bear market or in a spot and here we are in that spot. energy secretary jennifer granholm can't answer basic questions about this and about
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how much the country consumes of oil in the united states. this is mind boggling. watch this, congressman. >> how many barrels of oil does the u.s. consume per day? >> i don't have that number in front of me. maria: she's the energy secretary. she doesn't know that 18 millioe consumed every day and has been consumed every day in the u.s. last year, congressman? isn't this the most fundamental thing you should know if you're energy secretary, how much oil we consume? >> one of the most basic pieces of information that you think that the energy secretary would know, which shows you that she absolutely doesn't care and this is a strategic failure by the biden administration. they're the ones that shut down he domestic production of oil, they're the ones that shut down our own pipeline and now they're begging opec to open up production and increase production to lower the gas prices that we're experiencing here in the united states, all because of the decisions that they've made and now a temporary
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band-aid of 50 million barrels of oil, that's only three days worth of gas to america, three days. that's only a temporary fix for what we're experiencing here. you're going to continue to see inflation, you're going to continue to see skyrocketing prices of oil and gas and it's all because of the decisions this administration has made. maria: what's going on in florida, real quick, congressman? i mean, look, joe biden is still pushing this vaccine mandate even though a judge told him it's unconstitutional. in florida, you've got the lowest numbers in terms of covid right now, right? >> yeah, the lowest numbers in terms of covid. we haven't been shut down for over a year. our kids are in school. we have freedom here in florida and they recently had a legislative session where they pushed back on these federal vaccine mandates so that businesses and healthcare facilities and those types of things like disney world here in the state of florida aren't forcing their employees to be vaccinated in order to work. and that's why people every day are flocking to the state of
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florida, not only because of the great weather and the great climate and no personal income taxes but it's because we are a allowing businesses to operate the way they should operate, we're not mandating on businesses what they should do. the state isn't shut down. kids are in school and covid numbers are a showing of that. maria: well, maybe that's why nancy pelosi wants to move there, congressman. what are your thoughts on this report that i'm seeing that nancy pelosi purchased a $25 million home in florida? is she preparing for her retirement in florida where there's no state income taxes and she's obviously going all woke in her state of california? >> well, clearly she even thoughs they're going to lose the house next fall. i hope she is planning on retiring soon. that would be a great thing for the american people. maria: all right. congressman, good to see you this morning. thank you so much. we'll keep following all of that congressman greg steube ooh, .thank you, sir.
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♪ ♪ traveling has always been our passion, even with his parkinson's. but then he started seeing things that weren't there and believing things that weren't true. that worried us. during the course of their disease, around 50% of people with parkinson's may experience hallucinations or delusions. and these symptoms can get worse over time. nuplazid is the only approved medicine prescribed to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the common side effects are swelling of the arms and legs and confusion. now this is something we want to see. don't wait. ask your healthcare provider about nuplazid.
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maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is wednesday, november 24th. a look at markets this half hour where we are looking at a selloff underway this morning, futures indicating a triple digit decline at the start of trading, the dow down 150, s&p down 16 and nasdaq lower by 69. we are standing by for some key economic data this morning. remember, it is a holiday shortened week, so there's a lot of economic data jammed into today, the last full trading day of the week. initial jobless claims, durable goods orders and third quarter gdp all out in one hour's time, at 8:30 a.m. eastern. this after a mixed day yesterday on wall street, the dow and s&p 500 were higher but the nasdaq was lower, big tech hurt by rising bond yields which now are at a one month high. the dow industrials were up 194, nasdaq was lower by 80 and s&p 500 was higher by 7 and three quarters. this morning a mixed story in
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europe, take a look at the eurozone here where the ft 100 and the cac and dax are fractionally moving, the cac is down 18, the dax index biggest mover, down three quarters of a percent, 112 points lower on the dax. in asia overnight, japan was the worst performer, nikkei average down 1 and two thirds percent on the session where others were just fractionally moving overnight in asia. now some of the top stories that we're following this morning. jury deliberations resuming today in the ahmaud arbery murder trial. the jury deliberated for six hours without reaching a verdict. they were sent home. three men are accused of killing the unarmed 25-year-old last year. meanwhile, google employees are taking a stand against the company's vaccine mandate, at least 600 employees signing a manifesto asking company leadership to abandon the policy and create a mandate that is, quote, inclusive for all
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googlers, google shares down a fraction this morning. the company is requiring all employees to be vaccinated against covid-19 by december 3rd whether they plan to come to the office or not come back to the office. nasa is launching a spacecraft meant to crash, the space agency launching the dark mission last night. this is the first attempt ever to redirect an asteroid. if successful, the redirection will be the first time humans have significantly altered the dynamics of the solar system in a meaningful way. it could be used for the future to defend the world in event of a potential impact. the craft is expected to reach its target in september 2022. well t biden administration gears up for its summit for democracy event next month. this is already drawing tension with china over one of its invitees, taiwan. the invite comes as china continues to pressure countries to downgrade or sever relations
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with the island. gordon chang is a senior fellow at the gatestone institute. gordon, great to see you. thanks very much for being here. i know you do expect the ccp to reunify with taiwan and invade taiwan at some point, right? what message does it send to china that the u.s. is now inviting taiwan to this summit? >> this is a great message on the part of the administration because really this is a deterrence message, saying that taiwan and the united states and democracies are one. and so i think beijing has got to take notice here because it's taking on everybody around the world and at this particular moment i'm not sure that beijing is able to achieve all its ambitions. it really is over-stretched. maria: yeah, but let's face it, gordon. this administration has had no teeth with this policy on china. the ccp has been stealing intellectual property for
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decades. it's invading countries, bullying its neighbors in the south china sea, committing genocide with the uyghurs and yet what do we get from this administration? joe biden won't even bring up the origins of covid-19 when he speaks with xi jinping three times this year and china continues to stop any investigating on how in fact this pandemic started in that wuhan lab. >> yes. and his failure yesterday to answer questions about what was discussed during the meeting with xi jinping, this was in response to the question from steven portnoy of cbs radio, that actually is very telling. and i think it's because biden doesn't want to discuss topics, because if he discusses topics he has to discuss substance. if he discusses substance, knows that he's going to be saying things that offend the morals of the american people. this is a disgusting, repulsive, dangerous regime and the american people are just about fed up with this.
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maria: yeah. and they should be fed up with it. the ccp has been very clear, had they want to you acquire and overtake the united states as the number one super power. they're doing hypersonic missiles and what are we doing? we're celebrating pronoun day in the state department. i mean, what are your thoughts on how this ends? >> yeah, this doesn't end well. and, you know, i think it's an important thing that you mentioned about biden not discussing the origins of covid-19 with xi jinping. because this is a disease that has now killed 774,000 americans and not to raise it is a dereliction of duty. the american people know that and biden has just got to get on the same page with this because with the exception of taiwan, his china policies really have not defended the united states and so, therefore, i think that there's got to be some reckoning. biden's got to understand that he's got to change course or there's going to no longer be a
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biden presidency. maria: i'm wondering if it's because he's got so many conflicts of interest with this family making money on china. is they that the reason he tiptoes around xi jinping? >> that could very well be part of it. those new york times revelations about hunter biden, how he was able to arrange a portion of a sale of the portion of that mine to a chinese state entity. this is really serious because this is corruption and clearly hunter biden was front-running his father. he knew what his father's policies were. he knew how this could help china and he actually went out and did it with this cobalt mine in africa. i mean, the american people should be outraged. it's not just the art sales, it's not just everything else. hunter biden is still involved in china and this is contrary to what biden pledged when he ran for president last year. maria: yeah. i don't know if it's much of a revelation, though. we knew this before the election of 2020 in terms of hunter biden
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tied up and getting money from china. but gordon, what do you make of jamie dimon's comments, making headlines as he spoke on a boston college chief executive's club panel. he says that the company, jp morgan, will outlast the ccp. he acknowledged that he wouldn't be able to say that, a joke like that if he were in china but that the ccp was probably listening to him anyway. do you think he's going to get punished for saying this? the communist party is celebrating its 100th year, so is jp morgan. i'd make a bet we last longer. >> yeah, this is the most surprising comment from a corporate executive in like the last half decade. i don't know why he would move to say that. the communist party would like to punish dimon but the problem right now is that the chinese economy is in dire straits because of evergrande, the debt crisis. i think beijing knows they need jp morgan more than jp morgan
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needs china. i'm thinking an over car -- overstretched cha, which hasn on everybody at the moment, i think they're probably not going to go after dimon. that's just a guess. they would love to go after him but i don't think they have the capability to do that. maria: here's what i'm worried about, gordon. you tell me if i'm on track. they have given honey pots to financial services companies, jp morgan, goldman sachs, others, will be able to open shop and a own their company 100% in china. what's going to happen when china comes to our regulators and say hey, we've got your banks in china, we want to have chinese banks in the united states. we're going to have banks and we're going to be able to own 100% of them, let us in since we let you in. >> well, i think you're absolutely right about that. the u.s. market is much more open to chinese entities than the other way around. so there's relatively little leverage we have on them. but you know, the chinese
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shouldn't be in our markets for a number of reasons. one of them is that once they get into the telecom backbone, they can do all sorts of damage and this is the reason why it was not a good idea for china to buy the chicago stock exchange and thankfully that deal was derailed. maria: yeah. that's exactly right. bingo. we will watch that gordon, it's good to see you as always. thank you, sir. >> thank you, maria. maria: gordon chang joining us there. coming up, thanksgiving kicks off the busy holiday season. what it means for the industry and your travel plans this holiday weekend, coming up. don't forget to tune into fox business prime tonight, american gold starts at 8:00 p.m. eastern tonight followed by the pursuit with john rich at 9:00. you're watching "mornings with maria" right now live on fox business. stay with us. ♪
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maria: welcome back. well, travel is turning a corner, possibly making a comeback. take a look at these numbers, triple a predicts more than 53 and-a-half million people are going to travel this thanksgiving weekend. that is up 13% from last year. big numbers. joining me right now is ceo matt roberts. matt, it's great to see you today. thanks very much for being here. you've got your finger on the pulse. what are the travel numbers looking like to you? are people getting back out there? >> oh, absolutely.
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business is absolutely booming. we did a recent survey, maria, and nearly half of the respondents plan to travel this holiday season and it's mostly a family, so about 65% of people with children 5 years and under are planning to travel this holiday season. maria: and, you know, it's not cheap because oil prices are up 50%. so you've got gasoline prices a major expense. are they doing more driving than flying, matt? what do you see? >> yeah, actually 72% say they plan to drive to their destination for the holiday travel. so gas prices will certainly impact that. maria: so tell us about vacasa. you reported record breaking third quarter earnings. i want to get your take on what's driving the business, your gross booking value up 97% year over year with all-time record revenue. give us a sense of your business, how do you monetize
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all of this travel? >> sure. well, vacasa focuses on the supply side of the equation so we actually bring supply of vacation rentals into the market and so the business is great. we posted record results, our revenue $330 million was up 77% year over year. and 28% ahead of the targets that we had set. so business is absolutely going fantastic in all areas. we focus on like i said bringing the supply to the market. maria: and where are the destinations that people want to be at in terms of the vacasa properties and that supply, matt? where do you see spikes in terms of travel in the country? >> well, we're just starting to shift to, as you would imagine, the ski destinations. so cabins in cozy places and families are excited to start skiing again.
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we'll hopefully have a great ski season this year. of course, the warmer destinations, florida, et cetera, continue to have a lot of popularity associated with them to. it's all of the usual suspects as we transition deeper into the fall and into the winter months. maria: yeah, and all a of this great news ahead of your ipo. you'll be taking the company public via a spac. tell me what you're planning on doing with the money raised. >> well, we have such a huge opportunity for growth in front of us. the market itself for vacation rentals will be over $200 billion next year alone. so we're still early in our journey of growth here. so the money will be spent on continuing to fuel that growth and we're going to triple down on our investment in technology. at our heart, we're a technology company. that's what we use to power the scale of the business, vacasa is the largest in the country vacation rental management platform so we're going to use the money to just further that
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leading position. maria: yeah. and why did you choose a spac to do that? >> well, you know, the end result is the same. we'll be publicly listed company on nasdaq, vtsa, but the partner that we had in ppg was just a great ideal fit for us. carl pettersson is co-founder of hotwire. he'll be joining our board. so we got some great business partnership in addition to raising the capital as well. maria: all right. matt, congrats to you. we'll be watching. thanks so much for joining us this morning. a great picture into what's going on this morning in the world of travel. matt, good the to see you. thank you. >> thanks, maria. maria: all right. we'll see you soon. the ceo of vacasa joining us. quick break and a presidential snub, president biden appears to give vice president harris the cold shoulder. the video you have to see coming up. it is this morning's hot topic buzz. back in a moment. resembles someone else, who
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maria: welcome back. time for the hot topic buzz. president biden serving his vice president kamala harris the cold shoulder yesterday at a d.c. soup kitchen. watch this. >> what are you thankful for? >> people i'm standing next to. maria: yeah, there's kamala next to him. the snub follows the vp's allies reportedly saying last week that biden gives her tough jobs and is less supportive of her than to white members of his administration. yeah, white members of the administration. lee carter, your thoughts? lee: being vice president is a tough job so i'm not sure
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exactly what she was signing up for. in some ways, you really can't blame biden because his approval rating is so low, it's in the 30s now which is just absolutely unbelievable, given that just a few months ago he was in the 60s. and the only one in the administration whose approval rating is worse than his is kamala harris, she's in the 20s. that's lower than any vice president we've had in recent times, including dick kaye any o was considered one of the most unpopular vice presidents of our generation and a she's done worse. and it's not just because she has done worse by what she's done. i think many people are upset by what she hasn't done, with her attitude, her complaining. he should in some ways distance himself from her. he has to take responsibility. this was his pick and you know what, this is what we've got. maria: one of the problems, monica, is that the job she's been given she does nothing with.
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i mean, one might argue she was given the most important job in the entire administration, securing our borders and protecting our borders and yet what does she do? she never really went to the border. she said she went to the border once but she actually did not go to the actual border. she went to el paso, she went to see one area but it wasn't where we're actually seeing the crossings. that's more del-rio. the bottom line is, she was called border czar and she didn't do anything with it. monica: that's right. and she has spent all of her time, maria, whining and complaining that she got this portfolio. why? because she knows there's a crisis there. it's all being done on purpose. but she's also very sensitive to the fact it's going to have political blowback to her as well. the border is a no win situation when you don't really want to solve the problem, as they don't want to. so she is trying to put some distance between herself and that crisis by not lifting a finger. but it's all coming back.
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as lee points out, her job approval it as 28%. you know, the relationship between presidents and vice presidents can be complicated. and sometimes they can be negative. but you rarely see the vice president's office leaking on the president and his office and vice versa and i have a feeling, maria, it is only going to get worse so stay tuned for more drama. maria: yeah. quick break and then a stunning admission from biden's energy secretary as oil prices skyrocket. that's next. stay with us. [gaming sounds] [gaming sounds] [gaming sounds] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist,
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call the number on your screen now, or visit healthmarkets it's time for the ultimate sleep number event on the sleep number 360 smart bed. what if i sleep hot? or cold? no problem, the sleep number 360 smart bed is temperature balancing so you both sleep just right. and it senses your movements and automatically adjusts to keep you both effortlessly comfortable. so, you can really promise better sleep? yes! you'll know exactly how well you slept, night after night. we take care of the science. all you have to do is sleep. and now, all smart beds are on sale. save 50% on the new sleep number 360® limited edition smart bed. plus, 0% interest for 24 months. only for a limited time. maria: welcome back. good wednesday morning. thanks so much for joining us. i'm maria bartiromo. it is wednesday, november 24, your top stories 8:00 a.m. on the button on the east coast, americans paying price for bad policy, president biden
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telling families to quote rest easy on thanksgiving, about inflation. despite soaring gasoline grocery store prides a majority are blaming biden for higher prices this holiday season the fallout coming up this morning. markets are lower this morning, a last final full day of trading, on a holiday shortered week dow industrials down 140 s&p 500 down 15 nasdaq lower by 69 of course markets are closed tomorrow for the thanksgiving holiday, and on friday, closed 1 pm eastern, we are standing by for economic data initial jobless claims durable goods, third quarter gdp out in of a half hour's time 8:30 a.m. eastern following last night's weak earnings nordstrom gas plunging on results look at stocks blaming supply chain issues nordstrom down 25%, in its value right now the dax down 20%, major haircuts on retail this morning, european
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markets this morning are mixed take a look at eurozone where factional moves across the board ft 100 up 11 cac quarante down 22 dax down 113. in asia overnight mixed story japan wroers perform nikkei savage down one and two-thirds percent "mornings with maria" is live right now. >> and morning moves, first up deer up this morning after company records better than expected fourth quarter profit farm equipment maker forecast higher earnings next year as crop livestock prices rise the results pushing the stock up, and even some over the strike that ended stock up almost 3% on deere and company hp on track to open seven-month high better-than-expected resulted for the fourth quarter benefiting from a higher average selling price for computers, hp shares 32 and change up better than 4% right
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now, giving upbeat outlook as well, taking about office reopenings high health demand during the season on hp in premarket up better than 3%, quick inflation assessing thanksgiving dinner turkey prices up 6 and kwaet potatoes almost 10% passion up 25 1/4 percent costing more, money for everything going into this holiday joining me right now ceo of stew leonards, stew leonard junior joining us all morning long lee carter monica crowley, great do see you happy thanksgiving to you. we are thrilled that you are with us this morning, how is business? >> you know so far, this -- we're up about 9% for the thanksgiving holiday overall, that had been bell curve that we saw last year, happen everybody starts real shopping
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sunday and monday, tuesday. we've seen that move two days earlier this year, so, so people are definitely out and shopping earlier this holiday season. stu assess inflation everybody is feeling i know you are paying more for the products in your store, we are watching customers behind you shop, regardless the general mills saying raising prices on hundreds of items across dozens of brands have you raised considerable into the holiday. >> maria interesting i think all this inflation statistics that you see they're almost like a pent-up inflation right now. the expires, we directly with farmers, gas in tractors in
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fibbing boat, feed prices have been up, so what i have been doing with them saying look, if you want to raise your prices 10% right now, they have to, labor is up also i said split it with them, i can't split it with them forever, i am going to absorb some because i do think there is a lot of supply and demand, and i want to wait for things to settle out if it comes to january and february we have to raise prices i didn't change anything on buttermilk, eggs this pent-up inflationary pressure i don't think statistics are showing right now. maria: you are right those things we buy bacon up 20%. sausage up 8% muffins biscuits up 5% coffee up 6% or so, how
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long do price increases last it is hard to believe that once a price increase is in place, that it reverses or comes down anytime soon systematic right? once you he raise prices in january or february are we looking at those elevated prices for sometime to come? >> o well, maria, i think i think half inflationary thing has to do with built in costs i don't think are going away. look. you know we've had to raise start being, to 15 dollars an hour in new york, the amazon out there advertising 15, all over the place, so, we have to get good people you got to raise your prices, labor costs not going to reverse in january. also, fuel prices i don't know what is happening with fuel prices, but whatever happens we are going to have to reflect their prices some point, because farmers are at this -- thing i don't know if raining really bad like just raining in california, weren't
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able to pick as many berries you are going to see increase in the berry, just because of weather, those things ride like cycle, half inflation, half this supply chain issue. maria: let me ask you a question are people looking for alternatives, when you see one product line having such spikes in terms of prices, what are people going toward as alternative? do they say okay, well, the turkey is too expensive i will get chicken or vice versa what are you seeing in terms of alternatives to make to make it more affordable. >> maria, i have seen those some people say, skip the turkey, you know all that. i know dagen talks about it that is ridiculous. okay? this is thanksgiving. we've just been through a rough year people want to
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celebrate, you know. i mean, your turkey the least expensive meal of the year in two dollar range, then you have a -- rib roast going to cost in other i know you are italian, seven fishes lobster stuff like that thanksgiving is expensive you said -- might go up 10% we have a dinner where you can basically for 20 dollars ahead turkey in the box i have it here they customers just -- it is like 20 bucks ahead you can make it for 10, so 10% that is a dollar per guest. okay? make say two dollars, if you serve -- you can bring price down like you do right? you know, talking about -- not
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talking about a lot of money here for thanksgiving. sit back enjoy yourself, and eat a lot you know that is. >> all right that is good advice you know what stu? i will take it i will take it good to see you final word. >> maria, i got to tell you i know all your stats, boots on the grounds i got to show you mashed potato -- mashed potatoes a buck, right? the ones we make in the store 4.99 a pound, mashed potato sales, follow dow, okay? so one of your statistics right here you and i joking about that for a few years, and -- mashed potatoes when they go up dow goes up.
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maria: i love that marshed potatoes index, you know what i am -- coming out the see all that great to see you happy thanksgiving, stu thanks very much for being here, stu leonard joining us, this morning, quick break much more ahead, this morning, coming up youtube has himself, senator marsha blackburn here calling out platform for punishing those who call out china over ten is star peng shuai's assault allegations and her experience stay with us president biden releasing 50 million dollars oil from strategic petroleum reserve to try to bring down gasoline prices? is its making abing difference his energy secretary down the even know how many barrel americans consume everyday. >> stocks i can't think beyond closed the price tag will shock you making a big buzz you are watching "mornings with maria" live on fox business, back in a moment.
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maria: welcome back. well energy secretary jennifer granholm with another doozy facing backlash this morning after this stunning comment, watch. >> how many barrels of oil does u.s. consume per day. >> i don't have that number in front of me. maria: i don't have that number in front of me she is energy secretary monica. your thoughts, this is just a couple of weeks after she crashed up at one endure on bloomberg when he had nerve to
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ask her plan to get gasoline prices lower she starts crack up. >> ask you imagine if a trump cabinet secretary didn't know the most basic facts? of their portfolio holy hell positive break cruellies for removal not first jaim second granholm made light of the energy crunch in the country then again this is stall what you get with identity politics cabinet, president biden building out cabinet more interests checking boxes associated with identity politics than putting a qualified people in positions, now, both she and president, and the entire administration are lying to the american people, about what is causing the high gas prices, and rest of this energy crunch because they are doing it on purpose they created the crisis, to try to channel all legislation
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and all political energy into the green new deal and green energy agenda would behoove them politically economically to tell american people the truth because they are living these high gas prices on the ground every single day. maria: they sure are lee you can't make this up the fact the energy secretary ebb doesn't know that we consume 18 million barrels of oil a day. >> you can't make it up, you know i think interesting that the administration is trying to say it is not their fault gas prices are where they are there is nothing they can do about it. but you know what more than half americans are blaming this administration for inflation. costs, three-quarters say not doing anything to address problems most important to them administration is asleep at the wheel, they are losing sport sport of independent resorts they cared handly a
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year ago they feel out of touch with that issues matter the most. people infrastructure plans, do not feel like being taken care of issues that matter most issue of what is happening at pitcher prices of gas, if talking about it i know together believe i just had to pay almost $4 a gallon in california, $5 a gallon point of view administration out of touch making people not just dismissive of agency but angry at them probably ready to change parties. >> lebron james and nba weigh in on the kyle rittenhouse case crickets when it comes to china and experience of tennis star peng shuai tennessee senator marsha blackburn will give her take on double standard kairnships idle off california coast we give you
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the update option to address the supply chain crisis right now stay with us. . .
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maria: okay we have breaking news this morning, jpmorgan chairmen ceo jamie dimon walking back comments on china we askedl he get punished for it just put out a statement saying that quote i regret and should not have made the comment saying that jpmorgan would outlast chinese communist party, dimon going further in the statement saying i was trying to emphasize the strength and longevity of our company about you he regrets saying jpmorgan would outlast the communist party of china, obviously, someone from the ccp, is punishing jamie dimon and cracking down on him because of those comments, to make him
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walk them back this morning. breaking news. meanwhile, big tech is bowing down to chinese communist party. youtube stripping advertising revenue from video where a new show is discussing the disappearance of chinese tennis star peng shuai she disappeared. it was true. peng vanished two weeks after she put out an accusation in a post that day chinese senior official sexually abused her after putting that post out on web sito account it was disappeared she was disappeared two weeks now the ccp is facing pressure from across the world in particularly the woman's tennis association they want answers, joining me right now tennessee senator marsha blackburn a member of the armed service commerce and judiciary committee has been an incredible protector of this country against the ccp, senator it is great to see
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you. thanks very much for being here, i want to get to the letter that you wrote youtube in a second. but first let's talk about this jamie dimon conversation we reported what jamie dimon said the quote here is the quote, he said the communist party is celebrating 100th year showing j'moring i make a bet we last longer, he said that an hour later or couple hours after widely reported he walks back the comment says he regrets it your thoughts? >> jamie dimon should have said having we will last longer freedom free people free markets, that will always outlast the communist party, because people innately want freedom they are going to tilt that way. the chinese people all 1.4 billion of them, what are they
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going to want? they are going to want to make decisions for themselves, and they have learned that if you speak out against the ccp, they are going to disappear you going to shut you up, but look at what message it sends to our markets in the free world if somebody like jamie dimon is backing down to the ccp. we know what they are doing to american companies, that is why why many companies like fortnite like apple, are leaving china, because they don't want to deal with ccp. but there is lessons to be learned whether it is dealing with peng shuai, or whether dealing with jack ma. you look at how they will disappear you if you do not toe the communist party line. maria: we don't know what the ccp threatened jamie, for him to walk back comments, he is
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not the type of executive to walk back something, he doesn't apologize he is tough. but let's remember, that earlier this year, he won approval from the are regulatory to fully own venture you wrote a letter to youtube demanding answers about them stripping advertising from news program that reported the truth the news about peng shuai, tell me about that story have you heard back from youtube? >> we have not had an answer from youtube, but curious, that they would have been so involved with promoting #metoo movement when you have this story go up, on peng shuai, they say de-monetizing that story, in essence, means that story is not going pushed out
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i would like to know from them why they are supporting this propaganda, and maria, we have seen this tilting with big tech facebook, tiktok snapchat they are providing cover to much of this propaganda not only in china, but in other places but, of course, especially when you are looking at tiktok. it is primarily there in -- communist chinese -- >> yes. go ahead sorry senator. >> we know that the communist chinese are going to punish companies if they do not toe the line, look what they've done with nba lebron james in the nba their silent on this issue, dealing with wta and tennis star completely silent,
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why are they not supporting her? maria: yeah, you are absolutely right lebron james nba, weighing in on kyle rittenhouse but failing to say anythinghi abohiboenninir speaiperhe- -rr t t gecigede t bvenven oghhihi y s ihoenus o i w w w w you docemtra ogu ogu o tise?e? ion'ton'tnono wre demoatrere toomom wndodo wn wn wn wtesesesng ininin ey have to t th, they the haveove seeee that se s s are try tg to get t offina.a. hether it is our communicatunicnsunic semiconductor chips or any critical supply lines, pharmaceuticals, people want out of there because the
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chinese communist party steal intellectual property and they are not -- so is we -- these companies pull out. maria: yep, exactly senator great this morning thank you very much for leadership on very important topic senator marsha blackburn happy thanksgiving senator key economic data on the other side of this break stay with us. . [gaming sounds] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further.
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december 7th. so, you should act now. were do i find the right medicare plan? at healthmarkets, they search many of the nation's most recognized carriers so they can help you find the right plan, at the right price that's the right fit for you. how long does it take? just minutes. my current plan only covers 80% of my costs. healthmarkets may find plans with zero dollar copays, deductibles and monthly premiums. even plans with prescription drug coverage, vision, dental and hearing aids. how much does it cost? healthmarkets service is free. dog barks ok bunker! ... he really doesn't want you to miss the december 7th deadline. don't wait. save time. find the plan that fits you. call the number on your screen now, or visit healthmarkets it's time for the ultimate sleep number event on the sleep number 360 smart bed. what if i sleep hot? or cold? no problem, the sleep number 360 smart bed is temperature balancing so you both sleep just right. and it senses your
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movements and automatically adjusts to keep you both effortlessly comfortable. so, you can really promise better sleep? yes! you'll know exactly how well you slept, night after night. we take care of the science. all you have to do is sleep. and now, all smart beds are on sale. save 50% on the new sleep number 360® limited edition smart bed. plus, 0% interest for 24 months. only for a limited time. . maria: welcome back, we've got economic inadequate hitting the tape right now initial jobless claims coming in 199,000 that is new pandemic low, and is better than expectations the expectations called for 260,000, on durable goods orders number weaker-than-expected down a half of 1%, the expectations on durable goods was actually up 2/10 of a percent third quarter gdp third quarter gdp 2.1% that is weaker than
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expectation calls for growth 2 .2% markets down this morning they were down going into this economic data, it is largely weaker than expected except jobless claims numbers dow industrials down 136 s&p down 14 nasdaq lower by 59. let's get into it i with lpl final strategists this data is worse than expected i know the gdp number is backward-looking what do you think this economic data tells us about where we are? >> maria, first off thank you for having me happy thanksgiving to everybody, not too much of a shock i don't think when you backward-looking overall understand the third quarter is about 2%, fourth quarter that atlanta -- gp now says looking for 8% gdp growth fourth quarter, this happens, trying to get better, economy matters, stock market, the stock market in november up
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early, sideways a little up the last part of november so bullish, past november don't forget december is usually pretty strong stock market for stocks 20% going into the usually bullish december month higher 8 of last nine months december usually does well. maria: let me ask you about that, because the macro story is critical, to putting money to work in the stock market, and we are having retail earnings, really taking a toll this morning, are nordstrom gap are totally plummeting reported weaker-than-expected numbers last night, and both retailers getting hit talking about high labor expenses supply chain issues, nordstrom down 25% value right now gap down 20% ryan what do you say
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about real rout impact on macro story. >> most, you are right on, pretty solid home depot lowe's, business retailers walmart -- taking on chin, best part, some people -- by reasons hit but we're not willing to given up on the consumer yet 9%, this year versus last year, truly the dollar, we know one piece -- seasonal adjusted, optimistic, consumer, two-thirds of the economy as we know still u.s. consumer still going to spend, specific companies last two days concerning, yes, but overall third quarter, 40% year-over-year you have to think earnings are still really strong here. maria: what does that mean for stock investing in 2022?
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i know your bullish into new year how do you want to allocate capital? >> yeah, that is the question let's put like this probably going to see 20% gain for stocks this year, major sell-off, late this year, next year after 20% rally s&p higher last nine years, nine months, sorry, average about 11 1/2% return bullish what do we think still in cyclical camp we go higher inflation go -- early in cycle stick with values investors material financial want -- a little bit we still first six months next year, early growth, most this year sticking with them at least first half next year. >> all right, then we will
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leave it there, third quarter estimate 2.1%, little weaker than 2.2% expected, things certainly quite a down in slowdown by year-end, quick, do you think the federal reserve starts raising rates in middle next year or sooner? >> well, neither we are not applying what is selling we think rates still late next year probably first rate hike. . maria: we leave it there ryan good to see you. thanks very as much have a beautiful thanksgiving, we will talk soon. we will talk soon tackling supply chain cargo ships pile up it from a trainz used to ease shipping delays kelly o'grady live on the ground with more kelly. >> good morning, everybody. maria it from a reins could be
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link, 30% coming out of l.a. ports, capacity to do more trucking industry facing even more severe driver shortage, with vaccine mandate could be attract solution trains can move many more containers and quickly sustainable with fuel sky rocketing a train can move on the of freight 500 miles, this is normally busiest time of the year traffic isn't making their way, some floating cargo at the port. . >> we are ongoing conversations with southern california ports locks, long beach, and reality is that at this moment in time, because the rail networks are so fluid, seeing in particular, this move more per week than currently moving. >> to put in context tom told me would move as much as 10%
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more than currently are, are remember, one railway union pacific announced partnership with long beach port and utah inland port authority solution long term angles as well experts arguing there have to be permanent changes in supply chain to deal with this accelerated shift to e-commerce we're seeing with consumer demand responding upgraded tech real-time data to improve turnaround time may not fix entire probe but could prove part of what they call the supply chain relay race. maria: we will see we've got empty shelves into the important holiday season last time we spoke to with headed of long beach port he told us that this is not showing any sign of -- until at least second quarter 2022 do you have other expectations of when this might be alleviated? you know we don't, i know that they are -- what partnership
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with utah port, inland port authority starting to see more increased interest from some companies to put containers on those rails, i think we're not seeing anything aof aleve yaitd, millions of americans quitted jobs what ceos need to do american gold the legend starts 8 pm eastern followed by the pursuit with john rich at 9:00 you are mochg "mornings with maria" live on fox business. . ♪♪ ♪
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yes you did. so we used the plan finder at oh, i see what you mean. makes it easier to compare health and prescription plans. they sure can change year to year. compare plans now at open enrollment ends dec. 7. hey honey, let's take a look. paid for by the u.s. department of health & human services alleviate. alleviate maria: welcome back. the great resignation people quitted jobs in record numbers right now in september, 4.4 million workers left the workforce, that is 3% workforce, some economists say this could end if and when people many who dropped out of the workforce return to work. joining me right nowing delivering happiness ceo author of beyond happiness how authentic leaders prioritize purpose and people for growth and impact, thanks very much,
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before we get into the book terroriffic 4.4 million people dropping out of workforce in september thoughts on handling the great resignation. >> i -- i mean pretty insane, 18 months seen a lot of things unexpectedly happen but this is definitely something that we cannot predict in recession people still quitting jobs ask a lot don't have another you know a second place to go, but making a stand, the fact that you know millions are still -- six months, this really leaving at a time, i think what we have leaders need to do ins why, and big part of this is to recognize -- that it is a great resignation also believe a great awakening people have a lot of time to
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reflect what inlize i think for us as leaders need to recognize that, they want more flexibility, they want more pay, but also they want to be -- o to live lives more meaningful to them higher purpose, so, to leadership point of view, take tan into the factor. >> a great point flexibility second most important factor for people when comes to finding a job want to be happy to know they've purpose according to recent study from interest populous how do companies adapt to what americans want and how things shifted. >> i think such an important question, if you think about it you have to take time to answer it. and the biggest way to adopt is to have honest conversations, people leaving sometimes, people like why did that happen ask them you find out what their looking for,
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so, it has to be human-to-human kind of conversation i think. and i think the more we can listen to those things actually react to them, and that is necessary, because for it is just let's be real about the situation, things going well not going well but at least from a leadership standpoint having that assurance we're here for you more we invest in you you will invest in us as a company makes sense all around, as we want people to be happy also want to bring humanity back in the workplace, too. maria: tell me about beyond happiness what we need to know to have happy lives. >> yeah. this is -- a big question, and, actually, fascinating to me because covid since covid happened i have been having interesting conversations from ceos to front liners that are coming to me saying i don't
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know what happiness means i am not sure what purpose could mean in my live, so i think, the reason i wrote beyond happiness or named book beyond happiness is time to actually open up minds a little bit, and ask yourselves, about what does happen, today versus what it was 18 months ago, so instead of rainbows, unicorn highs we think of happiness to be or glass of merlot, bingeing, happy things i think fundamental for us to look more inward, understand, ho who made to, beyond myself what are values how can i wake up in the morning and feel, so will bid my rest of the day because i'm living according to who i am i am dealing with people that don't care enough. >> great point, morgan stanley managing director said in
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conversation call this week any banker 21 to 35 if he or she is not in the office all the time bank yet to mandate employees are returning to in person five days a week, because i guess there is a balance especially because less experienced competition can learn so much being in person. your thoughts what is going on how things will change, as a result of this pandemic? >> yeah. , of course. i mean i think -- companies all the right to draw that line mandate come back to work we think most important to have those human-to-human interactions that is all right but pendulum has swung we are seeing balance in scales different now knowing there is a great resignation there is a great awakening, of course, if you can a mandate things like that, also recognize you might lose people that you want the most to be staying in your company you might be losing talent that want more
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flexibility not having a mandate, saying you have a choice, and that is a huge part of personal happiness being able to have that, control in lives autonomy in lives i say if companies want that mandate, that is fine but realize your facing a risk, of losing people you actually want to stay hand more flexibility in their lives give-and-take . maria: great to have you congrats on book we will be watching developments, jenn lim, we will talk soon busiest travel day of the year a live look at miami international airport right now travelers picking up going into holiday weekend, as travel has been nightmare on the roads we are giving you the latest in the air, and then up next, stocks of value holiday gift for wealthiest clients not latest, the shocking price tag makes a buzz you the big buzz coming
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on "mornings with maria" san francisco rocks by soaring crime, it is incredible stores forced to board up up to stop looters talking about impact failed policies that got us here. and then black friday taking you live, to stores across the country as he retailers fight to keep shelves stocked what the inflation impact is and then a sneak peek at hottest holiday toys this seven all friday right here "mornings with maria," beginning 6:00 a.m., eastern.
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6 to 9 a.m. eastern could be purchase for high end shoppers wait to see out of the world price tag for -- next right here mornings big buzz after this. . growing up in a little red house, on the edge of a forest in norway, there were three things my family encouraged: kindness, honesty and hard work. over time, i've come to add a fourth: be curious. be curious about the world around us, and then go. go with an open heart, and you will find inspiration anew. ..
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maria: time for the big buzz of the morning. fax fifth avenue going beyond clothes with its newest offering. the retailer selling and out of this world piece of art. this astronaut statue is called frozen with desire. it is on sale for $25 million. the four foot tall, 80 pounds
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cultures and encrusted with 6000 diamonds. what do you think? >> no thank you. no one is going to get that many diamonds, i would want them in another format. too much you can do with that kind of money. maria: monica, i don't know if you want this in your house sitting there, what do you think? >> diamonds are girl's best friend but i prefer my diamonds in a different form like hanging from my ears or on my hand. that reminds me of the mtv moon man award. looks exactly like it. this is bigger and is four feet tall so you need a big foyer for that if you are going to buy it. maria: you are right, good point. it is out of context for sacks to be selling something like
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this but the $25 million price tag is topping. >> i'm not sure that is a black friday purchased. maria: you will be shopping for black friday on friday? >> not in person but online. >> i used to go every year and fight the crowds. it is not worth it anymore. maria: it was great to be with you. thank you so much. i'm sending you both a happy thanksgiving and the best time with family. >> happy thanksgiving. maria: i to to wish our viewers a wonderful thanksgiving holiday. let me take this opportunity to
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say i am grateful to all of our viewers, thank you for your support and your smarts keeping us on our game. thank you to our producers, writers, organizers, director of this program. i'm thankful to all of you for the great work and the show you put on every single day. i'm grateful to my family and cooking with my moms, love to be at your home, i hope you can enjoy and cherish your family and friends this holiday weekend. i will do so with my husband and my little baby dusty as we all celebrate and give our grateful thoughts to all. happy thanksgiving. "varney and company" begins right now. ashley webster in first do today. ashley: great pictures. i'm ashley webster in for stuart varney. we are one day from thanksgiving and it looks like a travel boom. tsa screen the highest number of travelers since the pandemic began. six days of 2 million passengers, includes another record. lots of co


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