we showed you chicago in terms of real estate, behind the sky a condo overlooking your kingdom or the heart of the historic gulf coast, the 100 plus-year-old mansion, options are endless. from the windy city, this is "mansion maria: good friday morning, everyone. thank you so much for joining us. i'm maria bartiromo and it is friday december 3rd, your top stories right now 6:00 a.m. on the east coast. government shutdown everted. and the trump-era remain in mexico policy is back, we think. the biden administration going back to policies that worked as the border crisis rages out of control. asylum seekers will stay out of the united states until their immigration hearings. we will be watching to see that

biden reinstitutes this policy as a judge has ruled. markets this morning are searching for direction, dow industrials with lower right now. it is down by about 78. s&p 500 down 12 and nasdaq lower by 48. we are standing by november job's report all hands on deck, full coverage at 8:00 a.m. eastern. it's been a wild week on wall street for sure. yesterday the dow industrials were up 617 points at the close almost 2%. nasdaq up 127 and the s&p 500 up 64. european markets look like this. cac down 5 and a half and dax index lower by 17. in asia overnight markets finished mostly higher, japan was the best performer. as you say nikkei average up 1%. mornings with maria live right

now. ♪ ♪ ♪ maria: morning movers this morning. didi global is up by almost 8%, to be is up after ride-sharing announce today delist from the new york stock exchange. planning to move to hong kong and the hong kong exchange in 2022. the company facing scrutiny from beijing and that was after it moved forward with its ipo in june. chinese regulators finishing up a cybersecurity probe of the company and suspended new user registrations on the app. the securities and exchange commission also announcing chinese companies trading in the united states must disclose if they are owned or controlled by the government.

didi global, fell out of bed after the ipojp morgan lost a lot of money with its banker. this morning we see the ccp forcing didi to go to hong kong. there's docusign, plummeting in trading this morning, worst day ever. it has lost already a third of its value down 31%, reported a 42% jump in third-quarter revenue but the fourth quarter guidance missed expectations, this decline attributedless of a need to sign documents electronically as pandemic tailwinds are coming quicker than previously thought. the stock this morning down 31% on docusign. markets, though, pretty much cautiously. dow industrials down 62. s&p 500 down 10 and the labor

department expected to report 550,000 payrolls added to the economy in the month of november. expected to drop to 4 and a half percent. that would be down 1.4% for the month. joining me right now macro intelligence cofounder and president jillian and also joining the conversation all morning long, fox business dagen mcdowell and fox base contributor the king's college brian brenberg. great to see everybody this morning. thank you so much for being here. julian, you say you're mostly focused on unemployment data this month. tell us why this month is so important that you're looking at it closely this month. >> good morning, maria. yeah, when i was last on the show we talked about the idea transitory inflation not stocking up. it's important that we see powell pivoting in that direction and draw that language. the main reason is they have

miscalculated the flexibility in the labor market. i think they seen people as things start today improve in labor market and participation rate as we call it would return to the press highs and that would give them time and flexibility to taper policy and to let the economy run hot for a little longer. it does appear that this in the last week or so in powell's system and some of the other testimony that we had from the fed presidents that that is no longer the case, no longer believe that people will come back into the labor market quite as quickly. so that really leaves you very, very focused on that unemployment rate. that's the most significant element, i think, the market is looking as you said earlier for point one, drop from 4.6 to 4.5. i actually that can be conservative since june we have been dropping at .3. i think there's a surprise on the downside and drops 4.4 or

4.3. if that's the case, i think that's a little hawkish for the fed and accentuate to draw accommodation quicker. maria: do you think it happens in the next few weeks or a 2022 affair. do you expect two rate hikes in the new year? >> so i think it is. it start now. we are going to start tapering. i think what's important is the speed of the taper. i think we are now setting up for tapering some time at the end of q1, possibly the beginning of q2. so we are talking march, april time. it would be a pretty rapid drop of qe and when it comes to rate hikes, i think the big issue here is what it takes to slow this economy down because i know there's this tendency to look at things and say, you know, it's

okay, we can keep things going as they are. we actually can't. we are growing too fast. so they really need to start withdrawing accommodation and raise rates. i think this assumption in the bond market and we talked about this last time, the focus should be at the front, middle of the bond market so two, five years rather than 10 that's where the focus has to be. relatively benign level of interest rate. we rise to 175, 165 or something like that and then we stop. i think we may have to go significantly further to slow this economy down. maria: oh, wow. all right, i want to ask you about investing internationally. we've been reporting about didi global this morning, the chinese ride-hailing company planning to delist from the new york stock k exchange and pursue listing in hong kong. didi listed in the u.s. six months ago and shortly after the

ccp launched a cybersecurity probe. meanwhile the securities and exchange commission has announced chinese companies listed in the united states must start following our auditing rules and disclose if they're controlled by government entity, jillian, it's been a week of really exposing the ccp's behavior with the women's tennis association pushing back because of the disappearance of the tennis star peng shaui and you had ray dalio coming out with a comment that the chinese communist party's behavior with human rights abuses is equivalent to the united states. your thoughts on investing in these chinese companies as the ccp has made it clear it wants to overtake the united states as the number 1 super power? >> you're absolutely right there, maria. i mean, look, this is -- we have been writing about it 3 or 4 years about how we are moving

gradually to cold war status. i think people have got very used to this concept of moving capital and putting money to work everywhere. i think u.s. companies have natural right to sell goods and likewise chinese companies in the u.s. and that wasn't always the case. i mean, if you would have turned to ford in 1970's and said we think you should go see build a car factory in russia or the ussr and looked at you if you had two head. i think we are setting up a clear demarcation and i think when it comes to investing, sure, you can dabble in the names but i think that you need to be extraordinarily careful from a long-term perspective because it's not clear to me ultimately whether we are going to be allowed as western investors to invest in these chinese names. i think we may find that our regulators prevent us doing so and vice versa. this is a true division.

maria: yeah, not to mention people need to understand when you are investing in chinese companies, you are likely funding the expansion of the chinese military. >> correct. maria: that's the priority for the ccp. jillian, great to talk with you. thanks very much for weighing on all of that. have a good weekend. >> thank you, maria. maria: all right, jillian joining us this morning on markets and investing globally. some of the top stories that we are watching this morning. the coronavirus omicron depicted in 5 states as president biden tightness travel restrictions requiring international travels to present a negative test within one day of departure regardless of your vaccination status. the new rules take effect on monday. meanwhile white house press secretary jen psaki said yesterday requiring a shot to travel domestically is not off the table. the federal mask mandate for planes and other transportation

also extended until march of next year. citigroup is looking to make moves in china. the bank reportedly applied for securities license in the country and plans to apply for a future's license in the coming months. it says it plans to hire around 100 people in mainland china and the move coming as other global banks rush to set up businesses in beijing at the ccp listed restrictions on wall street following the 2020 trade deal between the u.s. and china. the ccp helping wall street lobby for prochina policy. the cost of inflation takes a toll on americans in a big way. a new poll reveals nearly half of all households are facing hard times as prices go up. lower income households are hurting the most with 7 in ten families making less than $40,000 a year saying that they are experiencing hardship as they pay 50% more for the price of gasoline and some foods among other spikes in prices.

inflation soaring to a 3 decade high in october. up 6.2% from a year earlier. we are just getting started this morning. big show this morning. it is job's friday. but coming up next we are looking at america's crime crisis. you will not believe what the white house says is the cause of the crime spike ago cross the country. we will get into it. it's job's day, economists expect 550,000 jobs added to the month of november, special coverage coming up to identify where the jobs are and new trend in big tech as the first generation of founders step down. what it means for the future of the industry, don't miss a moment of it, you're watching mornings with maria live on fox business.

maria: welcome back, crime spike ago cross the country as a wave of smash and grab robberies have plagued retailers but what the white house says is the root cause will shock you. watch. >> when a huge group of criminals organizes themselves and they want to go loot a store, cvs, nordstrom, home depot until the shelves are clean, do you think that's because of the pandemic? >> i think that a lot of root cause in a lot of communities is the pandemic, yes. maria: yeah, dagen mcdowell, forget about policies that this administration has put into place and that the democrats have been pushing like defund the police, jen psaki actually says with a straight face that this crime spike is due to covid. your thoughts? dagen: if you're going to lie, fib, tell fallacies at least make an effort because this isn't even a good lie. it is laughable. people immediately scoffed at it

because we know what the root cause because this is, again, treating criminals as if they're not criminals and crimes as if they're not crimes. this has been going on for years even before the pandemic and they went onto blame president trump for not allotting enough federal money for local cops. again, local crime is a local problem funded with local money as the new york post editorial boards points out. this is policy from the left. you coddle criminals and you treat law abiding residents and even the victims as if they are tritus. bail reform, releasing lowering penalties for even violent crimes, this is what the left wants, demonizing police officers. not just defunding but again putting them on their heels so they can't do their jobs. this is just --

maria: yeah. dagen: hideous lie. maria: it's hideous, it's absurd. obviously they think the public is stupid, brian. by the way, on the campaign trail kamala harris said that she would like to see in cash bail throughout the country. not just in as much and new york, we know how that turned out but here is another element to this, brian, bank of america executives reportedly telling junior employees to dress down in an effort to draw less attention to themselves when coming into the office as this violent crime surges in new york city. >> yeah, accommodation of crime so whenever you hear this administration by the way talk about root causes, you should get very nervous because it means they're not actually dealing with a problem whether it's the border or whether it's crime, but bank of america, a company in this town, look, you want to be a good citizen, bank of america, start making your voice heard about this problem. you know, these companies get

bullied all of the time about taking stands on certain issues. you want to be a good citizen. talk about the crime problem in new york. don't ask junior employees to dress down. i don't blame them by the way. there's a lot of crime in this town. start talking to elected officials and say fix this problem. it's ridiculous we actually aren't addressing any root causes, we are excusing problems by the way don't just hurt bank of america employees, hurt the least well off. they are losing access to the businesses they need that are getting looted out of existence. dagen: can i raise an issue. why is bank of america based here if they are intentionally putting their employees in harm's way? why not just move? tell the leadership of new york state and new york city we are moving our headquarters or we are moving our center of operations. we are going to move more people back down to charlotte, north carolina. why are you intentionally putting your employees at risk because it's what they are admitting.

brian: it is. maria: yeah, i think it's good advice. i think it's good advice, dress down but to me it's indicative of how bad things have gotten in new york and across the country to actually have leadership dress down but i agree, i think it's good advice but i also agree with both of you to say do something else as well, brian, i don't want to hear the woke corporations and talk about the things that are important to the people like the crime wave. brian: yes, they need to speak out on this. it's my wife and kids being able to go on the subway after dark in this town which is not a thing that you want to do. that's the real issue here. that's why bank of america should be speaking about these issues, the issues that matter to everybody in this city, not just their employees. dagen: they are customers. maria: airlines getting involved in the voting laws. i'm sorry, dagen. dagen: their customers.

lower-income new yorkers can't get to work without running the risk of getting stabbed on the subway. maria: yeah, so what are new york democrats have to say about that. we will keep asking the questions. take a quick break. when we come back government shutdown everted last night. once again they wait till the 11th hour why ohio congressman says it's sign of brokenness in congress, olympic officials say they held another call with peng shaui and we will get it into and tell you what she said in the morning hot topic buzz. stay with us. ♪ ♪ ♪

maria: welcome back, congress prevented a partial government shutdown yesterday passing a short-term extension of funding through mid february both house and senate agreeing to the legislation after resolving a standoff over vaccine mandates. the bill now heads to president biden's desk. joining me right now ohio

congressman financial services committee member warren davidson. congressman, thank you very much for being here. can you take us behind the curtain on what went on yesterday. there was a lot of pushback over biden's vaccine mandates. >> thank you, maria. really the question is shall we fund the government with vaccine mandates or shall we fund the government with no mandates. mischaracterized in an attempt to shut the government down. it was a fight whether we are going to support the mandates or not and congress, of course, has a vote in that. it's our job to fund the government and of all the crazy things that joe biden has been doing with executive authority, it would be great to see us weigh in on them but republicans are in the majority right now. we picked a fight that we tried to win with the -- with the continuing resolution and we didn't really you unite as well as i was hoping.

maria: now that this is 5 the president's trillion dollar spending bill will come to focus this upcoming week. what do you have ten legislative days, 12 days? what is the number? i know that you have 3 bills to look at, the debt ceiling, national authorization act and potential china new policy as well as build back better bill. what's the chance of these things happening within the next two weeks? >> i'd say close to none. part of that is tipped by having a cr that is till february 18th and in the house build back better unfortunately already past but it's important for people to understand now that they can read the text and see the outside scores that the congressional budget office hasn't scored this bill correctly. the budget gimmicks are exposed and the score, the cost is more than double what they said it was, so it's not an honest score from cbo and hopefully that kills the bill in the senate

altogether but in the house we've only got tuesday, wednesday, thursday scheduled for the rest of the year. a lot of people speculate that we may be back the week after. maria: okay, so right now you've only got 3 days but you may be back the week after. look, your colleagues on the left are still pushing through this massive spending plan. they are trying to tell us that it's valued at $1.75 trillion but even maya mcguinness came on this program a week ago said it's $4.9 trillion so a 5 trillion-dollar bill shoving down everybody's throats when it also includes much higher taxes when people are struggling. we have a new poll this morning that i want to show you, 45% of americans report they are struggling with financial hardship because of spiking inflation and the democrat congressional campaign committee is trying to take a victory lap. they tweeted a chart thanking president biden for lowering gas prices. look at the decline in gas

prices, two cents a gallon, are they serious, are they serious with this chart that we are supposed to be celebrating gasoline prices dropped 2 cents a gallon and much more inflation are we going to see should the build back better 5 trillion-dollar plan will get passed? >> that chart shows game with math and if you show the increase, it's dwarfed. if you did the same with data related to covid you would actually see the risk. if you look at the one i want to look at related to inflation is if you showed m2, the supply of money, who think that is you can go nearly vertical on the supply of money and not see inflation? there were people that were saying publicly, well, it's going to be transitory. i don't think that anyone believed it was going to be transitory and now we know it's not going to be transitory and encourage today see the federal reserve chairman say that when

he came before congress this past week. maria: yeah. >> taxes to try to pay for this. 17,000 in build back better program and they still haven't given up on trying to get access to bank records. maria: i think this is such an important point, congressman. we are paying 50% more for the price of gasoline and 20% more for things like baking and meats and chickened and yet you're telling me that this administration wants to even further the hardship by pushing down, pushing into the economy, higher taxes, who is getting taxed specifically in this new build back better plan? >> well, everyone is with inflation. that's the tax that's there. who is really targeted are american businesses. if you want to make things in

america, this is essentially made in america tax. you're a producer of anything in america, it's going to be harder to do not just due to the taxes but due to the regulation in this build back better initiative. i really hope the senate takes the time to read the bill and look at may ample's models and other accurate models that show this cost is not honest from our congressional budget office and from the democrats and it's never going to cost zero. they have tried with a straight face to say. maria: unbelievable. it cost nothing, the president continues to say as if we are stupid. warren davidson in dc. quick break, stocks under pressure, we are taking a look at investing opportunities within big tech when we come right back. ♪ ♪

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i'm maria bartiromo and it is friday december 3rd, a look at market this is half an hour where futures are edging lower this morning ahead of november's job report. dow industrials down 65, s&p is down 10 and nasdaq lower by 34. we are all awaiting the job's report from the labor department. we are expecting 550,000 jobs to have been added to the economy in november with unemployment rate ticking down to 5.4%. full coverage begins at 8:00 a.m. eastern with all hands on deck. stocks rebounded yesterday. it was a good day and another continuation of a wild week of volatility on wall street. dow industrials up 617 points yesterday at 4:00 o'clock on wall street and nasdaq up 127 and the s&p 500 up 64 at the close about 1 and a half percent on the s&p. european market this is morning are searching for direction, take a look at the euro zone where it's up 12 and a half but the cac down 7 points and dax higher by just one point very much a fractional move across the board. in asia overnight, markets

finished mostly higher, best performer was japan. nikkei average was up 1%. back in the u.s. act o jussie smollett's attorneys calling for a mistrial. >> the judge called their evidence irrelevant in front of the jury. the lawyer says that the judge physically lunged at during side bar. defense say it is brother's planned the attack and old tweet showed one of the brothers is homophobic and they even conducted a dry run through with him the day before. trial gets back underway on monday in chicago. well, federal investigators are looking into the sexual harassment claims that forced disgraced andrew cuomo to resign and cuomo facing criminal investigation in new york state. doj expanding federal probe to

see whether cuomo sexual harassment allegations violated civil statutes. cuomo denies any wrongdoing and his spokesperson calls politically motivated a defense he has used many times. the federal trade commission filing a lawsuit to block the deal claiming it's anticompetitive. regulators arguing that it would give unlawful control of technology that rivals would need if they want today make their own ships and nvidia hopes to complete the transaction next year. nvidia down more than 1 and a half percent right now. burger king with throwback deal, celebrating 64th anniversary. the chain offering the whopper for original price, 37 cents, you can buy like 5 if you want. you have to be a member of the program. those are some of your

headlines. maria: i would caution not to eat 5 of those in one sitting, for sure. [laughter] maria: cheryl, thank you. apple shares are down again this morning meanwhile -- thanks, cheryl. apple shares extending yesterday's decline on report the technology giant told suppliers that demand for the iphone is lower than expected going do into the holidays. it's been a strong year for the stock, up better than 20% outperforming the broader market. the stock this morning down half a percent and new bank of america reports that 5 major technology stocks account for 7% in the nasdaq. narrow rally for the nasdaq. researching founder and chief analyst lou, thank you very much for being here. >> good morning, maria. maria: first i have to get your take on what we are hearing from apple telling suppliers that demand has slowed down. this is an important story. do you think this indicates lower demand going into the

holidays for certainly apple but broader story? >> i think bloomberg reporters are making a mount out of a mold here, out of a rumor really. if you look at the data doesn't show that demand is weakening. you pay attention to apple, it's the same story different headline, apple raises production into the fall quarter and into the holidays and cost production in holiday season because they know there's so many buyers. it's a cyclical business for them. confirm that demand is still very strong in the u.s. and china. maybe little bit weakening elsewhere and they are basing it upon lead times for products. $6 billion of excess demand for apple products at the end of last quarter that they couldn't meet because of the chip shortages, you have seeing the equilibrium play out with wait times but i think it's a great buy the dip opportunity and no

one ever wins betting apple. two weeks ago, two months ago stock up $141, pullback from 170 to 162. i think that's a nice opportunity to add to your position. maria: what kind of supply issues has happenle add. we are looking at 100 ships in the pacific unable to drop off supplies, some of those supplies are components for phones. >> absolute hi. it's definitely -- it's a global issue and you have to put it in perspective. who are you going to give priority to? it's always going to be apple, your biggest customers. whatever pain the customers are feeling, it's going to be muted for apple because they're first in line. $6 billion worth of lost product sales last quarter but the key it's never host. history has shown demand just

gets pushed out and buyers come back for appear physical they can't get the supplies in time. we have seen this. we are on iphone 13's. every iphone that comes out, there's so many of them. we have a pretty strong historical precedent here of where does demand go, go away if people can't get their phones right away. it doesn't evaporate. maria: what are the opportunities in tech? >> right now i'm high on biotech. there's a lot of bargains out there in the small biotech space acquired by large cap. my favorite is pharma, targeted immuno therapy which you know hottest spaces in cancer treatment and company will release data in next two weeks to show they are extending survivability and eradicating

tumor from people from using system and i love semiconductors. forget the internet of things, it's the internet of chips. chips are going in everything. don't worry about the shortage. long-term there's more chips. 1.4 trillion a year sold. we will go to 2 trillion. pick and shovel play here, they invented a technology that can go into every type of chip that will improve performance. it's a real under the radar lower, smaller cap play that you can play the 500 billion-dollar semiconductor with. maria: i know one to have issues is the burn rate of cash in biotech, are any of those companies profitable yet? >> no, they are not profitable but pharma sitting on over two years worth of runway right now. you bring up the key point, do they have enough cash to get to inflection point or big milestone. maria: right. real quick, i want to ask you about tweet from tesla ceo elon musk. he tweeted a meme mocking the new twitter ceo and he's

depicting him as joseph stalin and former ceo jack dorsey as stalin associate who was assassinated. this is a serious tweet. it follows backlash against the ceo, the new ceo, mr. agewal and not being bound by the first amendment blow, your take. >> i don't know -- does elon musk ever focus on work? seems like he's the draw that stirs the drink all of the time in the tech world. jack dorsey spent too much time corunning square and twitter. his departure from twitter was long overdue and they faced a a lot of criticism on how they are censoring content, who are they censoring and what matters, look, welcome to big tech, regulation is coming and this is the first time i ever agreed with elon musk and think he's right on point here to kind send message directly to the new ceo

of twitter. hey, you better be paying attention to your platform and what's on it because otherwise you will be made a mock up in the market by him and other people. maria: well, they certainly do censor and have their political narratives which has become problematic. lou, good to see you, thanks very much. >> thank you, maria. maria: lou joining us there. quick break and then modernizing medicine. how new technology could make your next trip to the doctor more efficient. wait till you hear what's on path, stay with us. ♪ ♪ ♪

maria: making medicine about people. new technology that gives doctors more time to focus on patients and prevents burnout. we are going to take a look when we come back in two-minute's time. stay with us.

maria: welcome back, bringing the human touch back to health care, providing doctors with a way to focus on patients than computers using google glasses or a smartphone connecting doctors with scribes virtually. helps doctors make the shift toward telemedicine due to the pandemic. during the peak saw 90% of customers seeing patients online but the number has dropped dramatically right now. let's talk about it with the ceo of augmatics. manny, great to have you, thank you very much for being here. tell me about the company and

what trends you're seeing today in telehealth? >> it's great to be here, maria. thank you. so the company was founded on the premise of relieving the documentations burden from doctors which today consumes up to 3 hours of their day. and if you look at the macro trends in health care, the industry has suffered from a chronic undersupply of doctors and trained medical practitioners and oppose that against an increasing patient population that is also aging and you have this supply demand imbalance and you throw in the mix the pandemic which is causing more healthcare practitioners to leave the practice of medicine and you've got a real problem. so we feel that if you look at how doctors spend their time, if you can relieve that one-third of the day where they are

focused on documentations and allow them to reinvest some of that time into seeing more patients and allowing for a better life balance, if you will, that will improve or relieve some of the stress in the industry. maria: how do you monetize this business, manny? >> we have a subscription-based business model. so we charge healthcare enterprises a fixed fee per doctor per month. so it's a very simple, very simple business model. maria: are doctors becoming more comfortable with -- with talking with their clients on text through zoom calls? do you think this is where the industry is going? >> absolutely. in fact, i was first introduced through this company through my doctor who is a customer and in her words she found this to be life changing for her because it

relieved again a lot of the stress of having to take a lot of work home with her or stay in the office long hours, so the pandemic is actually really acted as a catalyst for the industry's adoption of virtual solutions that really lend themselves to a technology solution and so i think that is not -- the genie is out of the bottle. i don't think it's going to go back in and that's just going to continue. maria: all right, manny, great to talk to you. manny krakaris on new trends with medicine. officials say they held another call with chinese tennis start peng shaui, we will get into it in the morning's hot topic buzz. that's coming up. ♪ ♪ ♪

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maria: welcome back, time for the hot topic buzz. the international olympic committee announcing it held a second video call with chinese tennis star peng shaui, the ioc saying peng, quote, reconfirmed she's safe and well and requested her privacy be respected. peng disappeared from public life after she put out a post alleging that she was sexually abused by a chinese official, former vice chairman, vice premier of the ccp. with that the women's tennis association who is not involved in these conversations stands by its call for a full investigation and suspension of all events in china and hong kong. dagen mcdowell, moral coverage really from the women's tennis association among the few sports groups that have actually pushed back on the chinese communist

party's bad behavior and genocide? >> right, again, like the nba putting their profit and popularity ahead of human rights issues. this really goes to corporations far and wide particularly in the wake of those comments from ray dalio, the famous hedge fund manager where he tried to draw an equivalence between the united states and china when asked about china's policies of disappearing people, that is their approach, we have our approach. that being said, i think every corporation that kowtows to china has to be asked, why are you standing up for genocide, why don't you do more to cut off china, why are you standing up for a nation that puts muslim minority in concentration camps? maria: it's about the money, dagen. you know that.

1.4 billion people in china and, you know, it's amazing to me that ray dalio can actually get away with writing a book and calling it principles. brian, his book is called principles. brian: well, we found out what his principle is. don't offend china. that's what we get from a lot of corporations here. we are going to send athletes to china some of whom may chose to speak out and have spoken on the uighur problem there. what's going to happen to them? are they going to be detained for investigation? nobody believes that this tennis star is really truly safe and well and wants her privacy respected. nobody believes that. the wta is one organization that's willing to say so but i agree with dagen, you know, we talked earlier about bank of america and new york city speaking out on real issues. let's speak out on real issues. yes, it's going to cost us but we are at a moment in world politics and world affairs where

that just has to be the case because there are deeper issues at play and we will not prosper as a country or as a world if we don't address these human rights issues. maria: yeah, for sure. we are going to take a break. when we come back we are looking at didi global delisting and elon musk spree and everything that you need to know on the word of wall street. mornings with maria live on fox business. ♪ ♪ ♪

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maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, december 3rd. your top stories right now. it is jobs day in america, the november jobs report is out at 8:30 a.m. eastern. the expectation, 550,000 new jobs added to the economy in the month of november, and the unemployment rate falling to 4.5%. this comes amid the threat of soaring prices and the omicron

variant. plus, 0000 with more questionable foreign -- hunter biden with more questionable affairs. new. mails show the then vice president's son coordinating investment meetings with serbian politicians and high net worth individuals as he continued to sell influence and access to his then vice president father. markets this morning are edging lower, take a look. we are well off of the lows of the morning as we await the november jobs report. the dow industrials now down 7 points, the s&p 500 down just a point, and the nasdaq lower by 4 and three quarters. this after a big rebound yesterday. in fact, it was a mixed and very volatile week, markets moving over new covid variant concerns all week. yesterday was a good day, the dow industrials were up 617 points, almost 2%. the nasdaq up 127, and the s&p 500 higher by 64, one and-a-half percent. european markets this morning are edging -- well, they are mixed. take a look at the eurozone with the ft 100 up 26, cac up 8 and-a-half, and the dax index

higher by 43. we're seeing a little bit of buying spree right now. in asia markets finished mostly higher. the nikkei average up 1% on the session. "mornings with maria" is live right now. now some of the top stores rise that we are watching this morning. the coronavirus omicron variant now detected in at least five states, just one day of after the first case was found in the united states. it comes as president biden is tightening travel restrictions, requiring international travelers to present a negative test within one day of departure, regardless of vaccination status. the new rules take effect this monday. meanwhile, white house press secretary jen psaki said yesterday that requiring a shot to travel domestically is not off the table. the federal mask mandate for planes and other transportation has been extended until march of 2022. meanwhile, citigroup looking to

make moves in china, the bank reportedly applied for a securities license in the country and plans to apply for a futures license in the coming months. it says it also plans to hire around 100 people in mainland china over the next two years. the move coming as other global banks rush to set up businessess in beijing after the ccp lifted restrictions on wall street firms following the 2020 trade deal between the u.s. and china. honey pots for wall street. the biden administration strikes a deal with the mexican government to reinstate the trump era remain in mexico policy, it will force asylum seekers to stay in mexico until their u.s. immigration court date. the many program will restart at one border location this monday. more than 1.7 million encounters were recorded at the border by the end of fiscal year 2021, that is a record high. sources tell me another 600,000 have gotten away, in the country undetected. almost 2 million apa preparedded, 600 -- apprehended,

600,000 additional got aways. time for the word on wall street. joining me now is lindsey piegza, mike murphy and luke lloyd. gentlemen and lady, great to see you all. lindsey, kicking things off with you on this friday morning. futures are trading really mixed. i'm seeing a little bright spot here with the dow just going positive a moment ago, it's very much a cautious situation as we await this report, 550,000 new jobs expected in the economy, in the month of november, with the unemployment rate ticking down to 4 and-a-half percent. what are your expectations, lindsey, what do you think about the macro story right now? >> i would agree, we're looking for a relatively strong report with a gain of over 500,000 which is to say main a containing enough strength to keep that underlying trent trene of hiring in place but also support the fed's new more hawkish tone, suggesting a need for potential faster removal of policy accommodation. on the jobless front, i would

expect a further down tick in unemployment reflecting both employment gains but also a further loss of participation. and as businesses remain desperate for workers, we do expect the cost of labor to continue to rise with average hourly earnings pushing near that 5% level on an annual basis. maria: lindsey, you've been so great on the economy. do you think things change materially in 2022 since we know that the federal reserve will likely raise rates at least twice as it pulls back on the stimulus? >> well, it is likely that we see a more hawkish fed and it is likely we see less policy accommodation although this does appear to be much more appropriate given the fact that we're no longer in that emergency situation which called for those measures. that being said, as fiscal stimulus wanes, as we return to a more organic underlying pace of growth, it's likely that gdp slows to that pre-pandemic level, nearer 2% in 2022.

maria: all right. we're looking at a number of news headlines this morning on stocks. luke, chinese ride hailing giant didi global planning to delift from the new york stock exchange, pursue a listing in hong kong no doubt because chinese regulators told them to. they finished up a cyber security probe into the company and suspended new user registrations on the app. we know the s.e.c. announced that chinese companies trading in the u.s. must now disclose if they're owned or controlled by the government. i would say, yeah, most of them if not all of them are controlled by the ccp if they're chinese companies. didi global was taken public by jp morgan. they also got socked on the ccp's changes after the company went public. your thoughts on didi global right now? >> yeah, there's a lot going on behind the scenes here, maria. there was only one week after didi listed here in the u.s. that news came out about

cracking china -- about china cracking down on platforms. it was a huge middle finger from china to the united states. this is a second middle finger from china. china is uninvestable and it remains uninvestable. you p can't invest in communist countries. it doesn't work. the thing is, biden has no backbone and isn't standing up to china and china thinks they can take advantage of the united states right now. that's why they're testing nuclear missiles, that's why we didn't name the new covid variant nu or xi. i think there's a ton of opportunities in other countries like here in the united states and mexico. you're going to start to see companies and institutional money leave china and move to other areas including low cost areas where they can produce goods. this is actually beneficial to the supply chain because it's easier and cheaper to ship goods across the border from mention rather than across -- mexico rather than across the seas from

china. this would happen a lot quicker under somebody like the trump administration rather than biden. it would be much more accelerated under trump. maria: well, obviously we know that there's massive conflicts of interest. we've got the e-mail that shows the ccp was going to give joe biden 10% of the company they were creating, 10% held by h for the big guy, hunter was going to have 20% of that company. so you've got all of these conflicts of interest and you're not having biden do anything. >> funny how that works. maria: yeah. meanwhile, you've got wall street guys with dollar signs in their eyes, like ray dalio and larry fink who recently told investors to pile into chinese stocks, take your assets up three times into chinese companies. if i were a ceo right now, of course i would be looking for another growth story. there's india, there's europe, there's an entire other couldn't meant. i mean -- continent. i mean, you know, china is not the only game in town.

>> exactly. i completely agree, maria. there's so many other countries out there. maria: yeah. well, i mean, you know, to actually agree to fund the expansion of our main adversary seems pretty nuts to me because those companies are all tied to the chinese military as we've reported for several years now. mike, want to turn to tesla, ceo elon musk extending his selling he spree. it's incredible what a he's been doing. another $1 billion in stocks sold yesterday, mike. he's now unloaded more than $10 billion in tesla shares since he started selling last month. what's going on here? does he think the stock is fully valued? is that why he's selling or is this just him playing games with all the policy changes and talk of policy changes in washington? >> good morning, maria. so i think for certain it's not -- it has nothing to do with him thinking tesla is fully valued because if you look through

this, he's also exercising options to buy additional shares of tesla early next year. the difference though is those shares that he has an option to buy, so he needs cash -- remember, he does not take a salary from tesla. he needs cash to exercise these options so he'll be buying additional shares of tesla at roughly $6 a share. he's raising some cash. elon musk obviously richest man in the world, obviously a genius, he's figured out how to work social media. he wept out on twitter, he said they're going to tax my unrealized capital gains, it's not fair. so who agrees with this? he got the public and his shareholders behind him and said i'm going to sell 10% of my shares. so if you look at tesla stock, if you had told me the ceo was going to be selling i would tell you it will cause a selloff in the stock. well, it's up roughly 50% in the last three months since this has been going on so think elon is

being elon. he has problems with the current taxes that are proposed in taxing people's unrealized gains because he has more than probably anybody out there. i wouldn't read into it. i think tesla's stock is fine. he continues to be a step ahead of the regulators, ahead of social media. he's got it figured out. maria: but can you imagine what happens to the market and the broader economy if in fact that build back better plan goes through and they tax a unrealized gains? i mean, you're going to get hit. you've got tons of unrealized gains, i assume right now. you've been a great investor. everybody on the panel may very well have unrealized gains. what is that going to mean for you? are you going to sell beforehand? are you going to change youral low gas station? and then on top of that with all of the inflation that we've been feeling, 50% higher on gasoline, we're also going to pay higher taxes. what do you think happens to the economy if this massive spending plan and tax increase plan goes

through? >> yeah, and remember to add to that, maria, they're also going to increase the amount a of tax you have to pay on your capital gains. it would be forced selling across the board. a lot of executives, a lot of fund managers like myself, you would see major hits to the market. it's hard to quantify. but some people just literally have all of net worth tied up in a company they've been building for years, they take it public and sell shares intermittently. if the government decided to tax unrealized gains, people whether they wanted to or not would be forced to sell. so it would be massive selling in the market. it would cause a huge downturn. i'm very hopeful that it doesn't -- that this doesn't go through. maria: yeah. well, by the way, it's not just unrealized gains in the stock market. you might have unrealized gains in the house you own. you might have unrealized gains in art. i mean, this is just incredible, whoever came up with that idea. mike murphy, lindsey piegza and

luke lloyd, great word on wall street. have a great weekend you all. much more ad head. coming up, disarray in the vice president's office, a second top aide for kamala harris leaving her post, the's reaction coming up. darrell issa is here to talk about the averted shutdown in congress and newly uncovered efforts from hunter biden to make meetings with politicianses in serbia. it you is jobs friday. it is all hands on deck for our special coverage of the november jobs report beginning at the top of the 8:00 a.m. hour. we're going to identify where the jobs are and give you the news on jobs in america. joining the conversation all morning long is dagen mcdowell and brian brenberg. this p fantastic panel comes right back. you're watching "mornings with maria" live on fox business. care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪

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maria: welcome back. white house press secretary jen psaki defending the departure of another eye profile add a vicar from vice president harris' team, kamala harris, amid reports of turmoil in the east wing. watch. >> is the vice president not satisfied with the staffing that she has had so far or do people just not want to work for her anymore? >> working in the first year of a white house is exciting and rewarding. it's also grueling and exhausting. it's natural for staffers who have thrown their heart and soul into a job to be ready to move onto a new challenge after a few years. maria: simone sanders, harris' chief spokesperson and senior advisor will leave her post by the end of the year. she is the second top aide to harris to you announce a departure. it comes after a report that members of staff are reaching out to contacts saying they're ready to leave.

they say they believe harris is sidelined by the white house. what do you think is going on here? dagen: simone sanders was an incredibly strong spokes person for biden during the campaign. it speaks to why aren't they using these talented people who are around the vice president to really kind of help her image. everything that they have done, kamala harris, within the white house has just been a disaster for the vice president. maybe it falls on her shoulders. do we have a photo of the hug between her and pete buttigieg i think yesterday on the tarmac? that was like the worst -- okay. so when i was young, my parents taught me like if you're forced to try to hug somebody you p don'tlike, like have as little contact as possible. but still like make an effort to kind of seem like you're hugging them. that was what happened on the tarmac yesterday and it is

hilarious. they clearly hate each other. and kamala harris, she's going to -- there's no way that they will run her in three years at this point. no way. and there's no way that joe biden is going to run as well. so who is it i going to be? pete buttigieg who has been planning to be president since he was -- i think kyle smith says since he was drinking chocolate milk in elementary school. maria: you're right, it was probably planned. let's hug. let's hug and get that on camera. brian: planned hugs are great, maria. those work really well. you've got a problem with the product here. maria: i want to see the picture. brian: i want to see the picture too. all the spokespeople are cycling through right now like that's the problem. the problem i think is who they're trying to communicate about, her instincts have been terrible. she's performed very badly. she keeps it up, i don't think changing over her staff is going

to fix that problem. sorry. maria: i'm glad that she stopped cracking up at everything and now jennifer granholm cracks up about no plans to get gasoline prices lower. we're going to take a quick break. when we come back, wait until you hear what alec baldwin says in his own words, coming up, he gives his version of what went wrong on set, why somebody died. but is he telling the truth? we're going to take a look.

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your reaction to the omicron variant? >> well, i think the first virus here is fear. and i think every time we see a case occur now, everyone in that area thinks they could be next or even in that state. we really have to watch that and that's also the way the government has been messaging this, right, with this incredible scrutiny. it's taken all of the attention away from the delta variant which is causing over 130,000 new cases a day and still hospitalizing people at a rapid clip. i've talked to people in south africa where really this has been the outbreak and most of the cases they're seeing, especially among vaccinated people, is mild. so if you're vaccinated or if you had covid and got over it and you have antibodies from that, which we also are still not talking about in the united states, the chances are you'll have an extremely mild case and not end up in the hospital. that's the way this has to be presented. maria: yeah. well, look, this administration will not acknowledge the national immunity. you know that. they don't see any benefit to

those people who have had covid and have the antibodies. there's arguably studies of out there that say you could actually have more immunity from natural infection versus the vaccine. >> right. right. maria, one other thing, i wish they would bring this into the 21st century. i mean, you know, michael minet at harvard has been talking about rapid tests at home and the president said yesterday rapid tests at home again for free except by free he means you apply to your insurance for reimbursement. that's not free. free is like what president trump did with operation warp speed with hundreds of millions of doses of a vaccine which he is not getting credit for were sent around the country. we need to have a system where you test yourself rapidly, beam it to your doctor on your iphone and you get a pill which is about to come out by the way if you actually need it. that kind of technology is available. we're not using it. i don't see it happening in the

foreseeable future. maria: well, there hasn't been much success under this administration as it relates to covid. let's just be honest. more people died of covid this year than last year. but dr. siegel, i want to ask you about boosters. some scientists who were opposed to booster shots are considering it because of the rise of omicron. you say being fully vaccinated and boosted or being vaccinated and had covid likely offers substantial protection against the variant. this is on foxnews.com. >> that's exactly what i think. i wrote about boosters in the wall street journal last week. the game in town is as much immunity as you can muster. you probably get more immunity from having had covid. if you haven't had covid we want to bring you up to a level of immunity to fight off any variant. older, at a higher risk, it's more important.

for younger people, the vaccines are not perfect. they're really helpful. why not top off the tank. why not get as much immunity as possible especially with new variants emerging and delta being so ferocious. it's that simple. that's what we should do. if you've had covid, that counts instead of the booster. and every other -- many other countries in the civilized world are doing that, israel, europe. if you've had covid in israel, it counts for six months of immunity. that's the way it should be. and another last point. instead of mandates why don't we offer a testing option. testing, immunity, because you've had covid and boosters. those are the three big things. maria: well, all of this apparently is going into a big massive surveillance. this database of everybody's vaccinations, what are your thoughts on that? >> well, i don't -- i'm never a big fan of patient privacy being invaded or databases or the idea

that somebody's tracking you. i think it's between you and your doctor and i'm glad you put it that way so i remember to say something which is we've also been promised for months, maria, that we're going to get the vaccine in the doctor's office. i like the conversation that i had with patients where i tell them what the risks are, what the benefits are. it's not risk-free vaccine. what are the risks, what are the benefits, what are you going to feel and ultimately the patient may decide to take it. maria: it's a great point. dr. siegel, it's good to see you. thanks so much. dr. marc siegel joining us this morning. we'll catch up soon. quick break and then remain in mexico coming back, texas congressman tony gonzales is here on new deal to restart the trump era policy that's coming up. and then a work of digital art, art basel miami makes a play for the nft market and it's making a buzz this morning. we'll take you there live. stay with us. ♪ ♪ ♪ ♪ ♪ ♪

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maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. is friday, december 3rd. a look at markets this half hour where futures are seeing fractional moves ahead of the november jobs report. the dow industrials, the nasdaq and s&p 500 all now in positive territory with the dow up 13, s&p 500 up 2, nasdaq higher by 10 and three quarters, a reversal of fortune in the last 20 minutes. we're expecting the jobs report to show 550,000 jobs added to the economy and the unemployment rate ticking down to 4.5% for the month of november. we've got full coverage starting at 8:00 a.m. eastern. we'll identify where the jobs are coming up this morning. stocks rebounded yesterday, continuing a wild volatile week on wall street. at the close yesterday the dow industrials rallied 618 points, that was almost 2% higher. the nasdaq was up 127, almost 1% higher and the s&p 500 higher by 64, one and-a-half percent higher yesterday at 4:00 on wall street. european markets this morning are edging higher, take a look. it is fractional but it is

across the board. ft 100 up 28, cac up 9, dax index higher by 48. in asia overnight markets finished mostly higher with japan the best performer, nikkei average up 1% on the session. breaking news from the wall street journal, the food and drug administration looking to fast track omicron targeted vaccines and drugs. cheryl casone with the details. cheryl: that is right, maria. the agency and drug makers will develop testing and manufacturing guidelines in case they're needed in the fight against this new variant. the journal reporting under the rules the fda is putting into place drug makers working on new vaccines will be expected to meet standards similar to those required for the booster shots to get those off the rise. the omicron variant has been detected in at least five states. there's pfizer and moderna. the ceo of moderna saying they're very confident that they're going to get these vaccines quickly developed to battle omicron. both of those stocks are higher, obviously this morning. well, there's this as well this

morning. a suspect is arrested in the deadly shooting of jacqueline ivant, the wife of legendary music executive clarence ivant. in arrested ariel maynard at the scene of a separate home burglary. police say maynard accidentally shot himself in the foot during the burglary. he has a long of criminal history dating back to 2011. the family released a statement, thanking police and saying now let justice be served. the nfl suspending three players including wide receiver antonio brown for violating the league's covid protocols. brown's vaccination status came under fire when a report from the tampa bay times report brown paid for counterfeit vaccine cards before he went to training camp. the nfl players said -- all players were suspended for three

games without play. a bit of a blow to the bucks. just in time for christmas, tesla targeting kids with its latest electric vehicle. car maker debuting an atv it dubbed the cyber quad for kids. it's got a range of 15 miles, inspired by their cyber truck. it can reach top speed of 10 miles per hour, recharges in about five hours, cyber quad will cost $1,900. it's going to start shipping in two to four weeks, maria. no word if santa claus is going to try to make his own ev in time for christmas. we'll get back to you on that. maria: all right, cheryl. thank you so much. well, the trump era remain in mexico policy will restart on monday. we believe. the biden administration announced yesterday a deal with mexico for migrants to wait on their side of the border while asylum claims are decided. this is the same deal that president trump put in place before biden undid it. president trump is being forced to reinstate this program because of a federal court order. joining me right now is texas

congressman, tony gonzales, he represents over 800 miles of the u.s./mexico border. congressman, it's great to see you this morning. thanks very much for being here. >> good morning, maria. maria: so what do you think? is joe biden's administration going to reinstate remain in mexico. i know a court, federal judge has told them they have to reinstate this plan. but when i speak with my bauer deer sources on the -- border sources on the ground at the u.s./mexico border, they tell me he doesn't want to do it, we're not expecting him to do it, they think he's going to continue to blow-off the law. what do you think? >> i think it's good news that the biden administration is finally looking at the trump remain in mexico policy that worked. i think that's a good step in the right direction. this is also about house leadership, house republican leadership. under kevin mccarthy and steve scalise, the house republicans have pushed hard on this remain in mexico policy but we can't

stop now. we've got to make sure that they do roll it out. we've had over 100 members of our caucus go to the border, you yourself were at the border to see it firsthand. we need to bring democrats to the border to see it as well. the remain in mexico policy is only the start of many policies that worked under the trump administration that need to get reinstated. maria: yeah. so it sounds like you think that the administration will in fact do this, they will reinstate this trump era policy? >> i do think they do. i think they'll do it because they have to do it. you know, just in del-rio, i was on a call yesterday with the del-rio border patrol sector chief. he told me that they're having 1,000 apprehensions a day. so while we're not seeing the tens of thousands haitians under the bridge like we did, nothing has changed. so they are going to have to do something, the remain in mexico policy is a good start. maria: well, it's an

extraordinary situation. myself and my team have now been to el paso, mcallen and del-rio. we went to the border three times and every time we went we saw it getting worse and worse. congressman, you are introducing a bill that would help reimburse farmers for damage done to their property from illegal migrants. i spoke with ranchers during my trip to the border back in october and i heard firsthand their emotional experience with migrants on their property. watch this. i want to get your reaction. >> how do you protect yourself? >> i have to carry a gun all the time. maria: is there anything you want to say to president biden right now? >> [bleep]. >> we understand there's people coming in that want a better life but there's a better way to do it than the way that it's happening down here. and we shouldn't be afraid in

our own homes. we live in the united states of america. maria: congressman, i don't know if you saw this, but this is a couple that i spoke with on their ranch, big guy, he starts crying in the middle of the interview, telling me that he can't even throw out the garbage without holding his pistol. they are getting damage done to their property, most days during the week. and it's all the got-aways. these are not people who are apa preparedded. these are -- apprehended. these are people that got away, they get to stranger's ranches and do what they want. >> john paul shuster, that gentleman in your clip is a farmer and rancher in that area. farmers and ranchers have had to take the bulk of this crisis. they're seeing water lines getting cut that have to get replaced. fences destroyed.

not to mention the safety part of out. having to carry a gun around, just because you don't feel safe in your own home. i'm excited, you know, my colleague stephanie vice from oklahoma and i introduced this piece of legislation. ralph norman from south carolina is leading up the border task force, border security task force. so we're going to be rolling out more legislative solutions. the bottom line is the house republicans have led on this issue and we will continue to lead on this issue because everyday people like john paul shuster, everyday ranchers and farmers need help and you have seen it firsthand. maria: i spoke with one of my border sources yesterday. he told me there are 400,000 new people in houston because that's their first stop. in get a get-away car because they get these ads, advertising on tiktok and other social media sites, looking for a get-away car.

they get the get-away car and that person drives them to houston. the biggest business in houston right now are fake documents. they're just having huge money making opportunities, making fake documents for these illegals. is houston feeling very differently to you right now? have you been to houston recently? >> it is. it's not only houston. it's dallas, san antonio as well, el paso has also been sucked up into this chaos. what you're seeing is the cartel has expanded beyond its borders and is now going to these your n areas and they're recruiting folks to help with the human smuggling. you made that trip, just south of evaldi is a little town called hen necessary. ness. i stopped at a gas station to get gas and there was a person next to he me with tattoos up and down all over his face and his body and this is a small little town in texas. this guy clearly was not from

there. that's what these towns are having to deal with every day and it's scary. maria: i know, that's one of the tell tale signs of some of the cartel members. they have tattoos all over their face and bodies. it's a generalization. it is. at the same time, we know that is indicative of the cartels and the biggest cartel that's operating right now in that area i believe is the gulf cartel. anyway, we've got a lot to say about this. tony gonzales, thanks very much for your efforts and we'll be watching your legislation, congressman tony gonzales, thank you, sir. we want to take a quick break and then we're going to get into the -- thank you. the alec baldwin story. he sat down for his first interview after the fatal on set shooting and death of his cinematographer. why he says he's not responsible. stay with us. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs...

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>> do you feel guilt? >> no, no. i feel that there is -- i feel that someone is responsible for what happened and i can't say who that is but i know it's not me. maria: that's alec baldwin, says he's not responsible for the death of cinematographer halyna hutchins in his first television interview since the fatal shooting and death on the set of rust. the actor describing the moment the gun fired that fatal shot. watch this. >> this colt .45, you pulled --

>> as far back as i could. >> and you're holding onto the hammer. >> you see that? do you see that. that's good. i let go of the hammer, bang, the gun goes off. maria: joining me right now is entertainment attorney and managing partner at the romano law firm, dominic romano. dominic, it's good to have you. your reaction to what we just heard from alec baldwin? >> that public therapy is probably not a good idea. i don't think you can -- maria: i'm sorry? >> yeah. it seems like an ill-advised move in the middle of a criminal investigation, in the middle of civil lawsuits, to go on and claim that he's completely not responsible as one of the producers of the film for anything, any death or unsafe work conditions that may have been present on that set. better to keep quiet until the investigation is completed and

then speak out. maria: i understand that, what you're saying, sure, sure, but i mean, zeroing in to what he said, he's holding the gun, he's telling us that cocked and didn't pull the trigger, yet a bullet comes out and kills somebody. is that possible? >> it's possible but extremely unlikely. it would be very, very rare for a gun to l malfunction -- malfunction and even if it did, what are the conditions on the set that would allow live rounds, people shooting live rounds at cans between takes, between the shooting of the actual scenes. we know according to reports that people walked off from this set claiming that there were unsafe work conditions. where does the buck stop? he's one of the producers. now, he's claiming he's only responsible for creative decisions but he is one of the

producers, named as one of the producers on the film and so, you know, this does not seem to me like a good idea and i cannot conceive that his legal advisors would have recommended him to go on prime time television and make statements like he did. maria: well, maybe he felt that george stephanopoulos was going to be easy on him. he also said it wasn't his decision to point the gun at halyna hutchins, even though he was pointing at her. he said he was following directions. watch this. >> there's some who say you're never supposed to point a gun at anyone on a set no matter what. >> well, unless the person is the cinematographer who is directing me where to point the gun for her camera angle. that's exactly what happened. >> i think that's entirely possible. maria: dominic, so you think that excuse holds up in court? let me bring dagen mcdowell in. dagen, he says that it was

halyna hutchins' direction to point the gun at her. we'll never know. she's dead. dagen: right, this ghoul is blaming the woman he killed for essentially putting herself in harm's way. george stephanopoulos is alec baldwin's buddy from the hamptons and to call him a journalist is an insult to any other journalist because he sat there and did not pressal a ekec baldwin in any way about this balgerdash story that he was serving up. guns don't fire themselves. that's what he's saying. >> i don't know that that's fair. dagen: that's exactly what he's saying. that he didn't pull the trigger and the gun just went off. guns just don't get off. >> i think stephanopoulos did a good job under the circumstances. he let his guest speak. he let the emotions come out.

he let the explanation, the excuses come out. on a human level, it's difficult not to empathize with alec baldwin here. this is clearly an accident. the question is, who is responsible. he's saying i'm not responsible in any way. nothing i did or could have done could have prevented this death and if you look at a simple negligence standard, it's going to be up to a court to decide. i don't think it whim make its way into -- will make its ways into court. i don't think he will be charged criminally. dagen: he chose to put himself in front of that court with this hideous interview and to say he has no guilt about killing a woman and leaving behind a husband and family and to blame -- >> i don't think he's being truthful about the guilt. dagen: i pointed if gun at her because she told me to. in celebrity culture, how about just shut up? maria: that's what dominic said. look, that's what dominic said. >> it would have been wise not to speak. maria: you said you don't think this goes to trial and you don't

think he's going to be charged criminally. >> i don't think he's going to be charged criminally. i don't think it meets a criminal standard. i do believe people will end up writing big checks here. it's going to affect his pocketbook and other producers are probably going to write checks. if the reports that we're hearing are true. someone is going to be responsible for people dying, for someone dying on the set. maria: if it was somebody else, they would be in jail right now. dominic romano, thank you, sir. we'll be right back. stay with us. today, you have to deal with a lot of moving parts. you want everything to be on autopilot. and to be prepared if anything changes. with ibm, you can do both. your business can bring data together across your clouds,

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maria: welcome back. time for the morning buzz. nfts fungible tokens exploding into a multibillion dollar industry, now getting the art world in as well. susan lee is in miami at art

basel with more. >> reporter: good morning, maria. 2021 art basel is a whole different affair. it's all about the nfts which we know has boomed so far this year, up 145%. one interesting nft project i want to highlight at art basel is particle and louis bozard, he sold that $400,000 da vinci painting in 2017, he is selling off 10,000 people of his $12 million bank fee into nfts. from a traditional masterpiece background, what do you think of nfts, are they art in your view? >> i think they're art, absolutely. it's a great way to reconfigure art through technology. >> reporter: if i buy one piece of bank fee, 10,000 pieces, is that equivalent to one entire banksy, he though? >> you get one 10,000th of the work. had that allows the community to

access and say they're part ownership of this painting. >> reporter: particle, some of the interesting nft projects being launched. exciting week. it's taking over all of miami. back to you. maria: i love the fact that non-fungible tokens, nft, have become part of art basel. thank you, susan. susan lee. we'll be right back with the november jobs report, out in 30 minutes' time. our special coverage begins at the top of the hour. you're watching "mornings with maria" live on fox business. it. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to

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symone sanders . maria: good friday morning. thanks for joining us. i'm maria bartiromo. it is jobs friday, december 3 your top stories right now 8:00 a.m. on the east coast, we are standing by for november jobs' report, out in a half hour the expectation calls for 550,000 new jobs added to economy in month of november, we are also expecting unemployment rate to

tick down to 4.5%, markets this morning are higher we have had a reversal of fortune last hour fractional moves they are in plus column ahead of this report dow industrials up 20 the s&p 500 up 4 1/4 nasdaq higher by 3 a big rebound yesterday after mixed volatile week issue markets moving, right and left over the covid variant concerns at close yesterday dow industrials up 617 points almost 2%, nasdaq up 127 almost 1% s&p 500 higher by 64, one and a half percent this morning european markets 450ir firmen tone eurozone f500 higher, markets higher japan best the nikkei average up 1%, "mornings with maria" is live right now. . . >> morning movers first up marvel technology semiconductor

surging better than 0% premarket better-than-expected outlook above expectations, causing a gain 22% in technology stock up better than 5% holiday sales picking up raised guidance also expanding retail affront opening many shops in five target stores up almost 6% a government shutdown averted for now congress kicking dan down the road a short-term spending plan funds government until february 18, 2022 bill includes seven billion dollars for afghanistan evacuees, being resettled in america joining me right now california congressman darrell issa, a member of the judiciary and foreign affairs kev joining us right now from washington also joining the conversation all morning dagen mcdowell, brian brenberg so good to see you welcome back thanks for being here.

>> thanks for having me on for mentioning specifically seven billion dollars, because, normally that would sunday appropriate, but, of course, we have somewhere over 20% of the people that were ebb evacuated from afghanistan, had no id likely had never done anything for the united states. so they really many people are joining unfortunately, the tens of thousands over border being par roled many americans families stuck you in afghanistan unable to get out. >> i have never seen such a lawless administration a lawless government in my life. i mean you've got a wide-open border, people breaking the law left and right, and there is no accountability. we are now resettling all afghans, and then the you've got the administration pushing through more spending as we

are all faced with inflation that continues to zap disposable number what is motivation for lawlessness. >> one of the challenges we are facing without oversight effective oversight we don't know what we know if, for example, that hunter biden consistently attempts to financially gain from president's role as vice president now as president, but we have no over soot we see erratic behavior around the globe, not to get off subject the president is essentially just proposed that we withdraw from south korea, because it worked out so well when withdrew from afghanistan this behavior begs the question to allies around the world what is the because of

this? is it will various forces around the world financially reburgh members of family causing ridiculous decisions? that is what happened when vice president, it is what seems to be happening as president. very concerning foreign policy is driven by family members, need for wealth. a great point, when i said lawlessness i forgot a few things all smash-and-grab crime going off across the country, there is no accountability there. and as you mentioned, there is serious misbehavior, crimes, and overlooked tub russia hoax he rv lacingss from hunter biden emails messages show he registered syrian foreigner agent plotting with hunter biden in meeting with serbian president all happening while joe biden is vice president

congressman we know of emails that hunter biden exchanged with chinese counterparts where they were creating a new company in china, and hunter biden was a going to get 20% of it and then, another 10% was going to be held by h, for the quote big guy, we have those emails we know that the big guy is joe biden. how is it possible that this goes overlooked, you know no accountability, where hunter biden has been selling influence for years while his father was vice president do you think still doing it while he is president right now. >> i fully believe hunter biden and other members of the family are continuing to try to prosper by the president's relatively short time in public office. of i don't think there is any question at all if they did it for time senator years as vice president, of course, going to do it is for four

years of president going out of business sale, and maria i would be concerned from standpoint of criminal activity but i am much more concerned the rest of the world the world that we say lets end corruption the world we say we need honest predictable judiciary honest predictable government they cannot trust us if there is this kind of an appearance of criminal activity no accountability the reason has gone to be effective oversight there isn't the reason that you have to have real division between the president's public life, and his private financial live it seems to be at best blurred under this president and his administration. maria: i want to point out this is not a hunter biden story this is a joe biden story. they were sharing a bank account and we know that from emails as well, so hunter biden taking in all money from

all these he foreign officials, who want to get a meeting th with the vice president, and then the money goes into a bank account that they share. so this this is a joe biden story. >> it is absolutely a joe biden story also when you mentioned that serbian episode, at key to that is a -- registered foreign agent raised the president 50 million dollars for this last election we are dealing with these entanglements, opportunities that we're seeing also probably had lot to do with ability to raise money last election. it is wrong kind of thing thirdly world countries particularly connected to former soviet union known to do all time. not something america is known for we have foreign corruption traditions act tell people if you do business with united states, won't be bribing

clearly these payoffs to the rest of the world are not commissioned they are bribes. . maria: all of this while crime spikes across the country in your part of the woods in california in particular, congressman you have got to come back more often and soon to talk about so much other headlines incredibly story playing out thank you very much so much for being here this morning congressman darrell issa joining us we will see you soon now top stories coronavirus omnicron variant detected in at least five states comes as president biden tightens travel restrictions now requiring international travelers present a negative test within one day of departure regardless of vaccination status taking effect this monday, germany taking covid protocols to a new extreme, they are banning unvaccinated people from the essentially businesses, such as of

supermarkets pharmacies unvaccinated are in lockdown in germany leaders there backing plans for if mandatory vaccines in germany, the committee held a second video call with peng shuai, says peng recon firmed she is safe and well, and requested her privacy be respected. peng disappeared, as you know, from public life after she posted allege that she sexually abused by former vice premier of ccp the woman's tennis association suspended all events in china and hong kong due he to lack of transparency over peng's safety wta showing incredible moral encourage nba star enes freedom applauded this yesterday. >> every major league in the united states should take note, and take example of what

wta is doing it was amazing. -- for sure. so it is so important to not bow down to this dictatorship regime, and this communist regime. maria: enes freedom shown incredible courage to push back i asked whether he received enor dosments in support of moral courage taking on china he said no, a quick break more booed news for the cuomo brothers former governor andrew cuomo facing federal investigation brother chris cuomo not missed on air we get into it next 20 minutes away from november jobs' report are biggie breaking down everything you need to know telling you where the jobs are look at this market, 20 minutes before the report, a big pop, dow industrials up 71. we'll be right back. . t time of year. when you switch to t-mobile and bring your own device,

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maria: welcome back former new york governor andrew continuum under flal allegation justice department looking into allegations that led to resignation reports from leticia james found he absent inappropriately with 11 women, brian your thoughts on this when cuomo first resigned, i assumed there was some kind of under the table agreement, that they would not be a federal investigation, about what he did around the nursing home. but looks like doj is keeping the boot on his neck. brian: they are on a number of issues, do you know how much money with a has been authorized by state of new york to defend him? 23 million dollars. that is taxpayer money, to defend andrew cuomo. of them about what he has done taking a 50,000 dollar annual pension away from the job that

he did, on top, of course, 5 million bucks paid for the book office resources for crazy to me i think investigation ought to happen for sure, the taxpayers getting fleeced by this frankly. maria: i don't think taxpayers realize that. >> i don't think they do either. maria: i am glad you brought this up i don't think people understand they are paying for his defense. >> no, i mean paying millions of dollars to defend him right now he is taking a pension, they are paying his pension too maria. you've got legal issues on one side then he got the issue of does anybody have shame when it comes to what they've done how here to profiting from it? certainly not the former governor. maria: he also wrote that book, and the word was that he used resources from his office to write the book, dagen his brother chris cuomo not missed on air prime show saw a spike

in viewers after his suspension, nielsen reporting his show ratings jumped 19% tuesday night his first night off air. dagen: i bet back on air after, the holidays, and i know that, because brian stelter is a mouthpiece said on wednesday stelter did on cnn air that after the holidays, that he could be he is on bench for now i think it is possible he will be on the bench for several weeks i think it is possible he will be back, in january. then you had article that was clearly planted by zucker and his issue associatings in "new york post" trying to act like zucker was surprised by all this chris krumo should have been let go long time ago never allowed on air with brother yucking it up new yorkers dick of covid elderly people dying in nursing homes

caution of andy cuomo, chris cuomo's brother why jeff zucker acting like cuomo isn't replaceable with someone not quite so loathsome. >> let me say be clear this is not a chris cuomo story this is cnn story jeff zucker cnn, love youed the schmooze fest aloud show to go on culpable for reporting lies to the american people throughout russia hoax it was jake tapper mr. jake tapper, among first reporters on air, with the steele dossier cnn does not care about truth this is not

about chris cuomo this is about cnn your thoughts. dagen: you are right. like you are always. spot-on maria bartiromo. maria: thank you. -- november jobs' report we're taking a look where jobs are in this economy everything you need to know in two minutes' time, we will check the markets impact as well stay with us. .

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maria: welcome back. november jobs' report out in few moments, minutes away economists expecting 550,000 jobs added to economy last month with unemployment rate at 4 1/2%, joining me right now with all-hands-on-deck macromavens president stephanie pomboy former trump economic adviser steve moore, john lonski traditional investments group u.s. bank wlt management senior vice president lisa erickson, jon hilsenrath here all morning dagen mcdowell and brian brenberg, johnnie byron will join us shortly thank you so much everybody, great to see you we will be getting insight from this fantastic panel shortly. stay with us, we are going to slip in a short break find out from this panel what is most important, about the upcoming jobs numbers stay with us. . care.

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>> welcome back. good friday morning i'm maria bartiromo jobs friday, december 3 all hanz on deck we are back to get number taking a look at market dow industrials up 75, s&p 500 up 10 1/2 nasdaq higher by 48, ahead of the jobs number out in two minutes' time, jon hilsenrath let me kick off with you haven't seen in you a little bit what are you looking for in this report what is most important to focus on jon? >> well, i am very interested in the wage and inflation story right now i mean i think headline numbers going to show more progress here is a factoid if you are looking for hourly job, wages in restaurants right now are rising 12% a year in retail, 4%, if you are looking for a job go to restaurant not a retail store. maria: wow. that is great interesting but isn't it true they can't even find workers people are not

going back on the job? >> that is -- that is certain an issue slowing down job growth actually holding down, the unemployment rate, until we have to see how line force participation holds up a lot of things holding that back probably don't have time to get into it right now but i am sure we will after. >>. maria: we will get into it 4.4 million people dropped out of the workforce, in month of september. want the jobs numbers are just hitting the tape get to cheryl casone over to you. cheryl: ma here week let's first start with -- let's see, 4.2%, the jobless rate for november is 4.2%. as for nonfarm payrolls 210,000, 210,000 and, again, that is a big miss the estimate for gain 550,000 so this is a weaker than expected report again maria, now let's go to labor force participating rate that came in in november 61.8% that is a

tiny fractionally better than what we saw for october. again, the unemployment rate o going down to 4.2% the expectation was 4.5%. now labor force participation jon was talking abouting that 61.8%, again if you go break down numbers for you six look at under employment came in 7.8% better than 8.3%, factory jobs, 31,000 private sector jobs coming in weaker-than-expected this is weaker-than-expected report 235,000 way off the estimates of economists, that is even lower than the range, looking at. good producing jobs 60,000, construction jobs, 31,000 government jobs a loss, government sector of 25,000

jobs now to earnings inflation story average hourly earnings coming in again for average hourly earnings coming in .3%, .3% month over must looking for.4% the average workweek as well, that also coming in, at 34.8 hours we are looking for 34.7. let me dig into other numbers within the report give you a breakdown in particular, when it comes to like leisure hospitality things like that, if you look at i mentioned goods producing, private coming in 235 what a loss october give you something here in october we had 628,000 total private jobs now 235,000 a heck of a miss a real -- downfall from october, again that 210 on headline number, october 546 that is incredible, to me as well, to

a couple mere things looking at earnings, the average hourly earnings, again, there was a jump it was 3103 estimate like an hour, 2961 a year ago, so we are seeing people making more money, but the jobs that are being created are a lot weaker one more number sending back to you leisure hospital, 3,000 we had 170,000 created in october and november, 23,000. again markets heeding higher might be fed story i am throwing it back to you might take pressure off fed maybe add more, in the taper, if you will. but, again, a realization o revision, 82,000 more jobs created than previously reported for september-october, great november, maria, not so great, markets are higher though again might be fed story back

to you. maria: i think you are spot-on cheryl a fed story markets seeing this as weaker-than-expected number as a result maybe federal reserve won't be as much as much of a rush, to start raising interest rates, dagen mcdowell your read on this. dagen: year-over-year wage gains, were 4.8%, estimate in a is /10 of one percent below expectations when you have got consumer prices running 6. 2% clip, that has been one of the biggest problems real wages inflation adjusted wages are falling again even with that slight miss does speak to many people's wage gains not keeping up with the inflation their facing every day when filling up cars or buying groceries at the store that as was one with of the big things

why did unemployment rate fall so dramatically? >> is a great point dagen, i want to talk about labor participation rate but steve moore your take on something earlier in the week, president biden did a press conference about the economy. remember he got in front of the podium telling us how great everything is going? when watching him this week, talk about the economy i thought to myself wow. that is big week for jobs the jobs numbers coming out friday why is he getting ahead of this why coming out on a wednesday, or thursday, and telling us how great everything is i think it was wednesday. when we've got a jobs number coming out friday why not wait? maybe he knew we were about to get a stinko of a report. >> look, i am puzzled by this number i was in camp thought closer to 500,000, so, i am mystified i am throwing out a hypothesis to you, two words vaccine mandate.

i think the vaccine mandate is holding people out of the workforce. and i really believe this is a big mistake, obviously, a hot issue debated right now i know personally people say -- because the requirement to get vaccine i am not showing up for work not going into workforce i think that had a chilling effect on labor markets, but look the overall picture of the job market, is still positive anybody out there has a skill wants a job can have one, i think the problem is on the supply-side. that is us the supply of workers not the demand for workers, i have to say i am mystifiedlet not forget vaccine mandate, i think holed hundreds of thousands of people out of the workforce. >> all right. you know who is not mystified who was expecting economy to slowdown stephanie pomboy, are singing this for a year stephanie your read coming at you tell us how you see this number, .

stephanie: you can count on me to rain an parade, to steve's point i would note the transportation truckers really looking for some 80,000 truckers to come back to the workforce. health care, two areas, the areas where the vaccine mandate would be post evident you saw 50,000 increase transportation much weaker than we had been seeing, health care employment up 6,000 really getting hit there. so this is point vaccine mandate story is real. you did see a more than 500,000 increase in the labor force, encouraging but i think, you know more broadly, i continue to see economy -- i continue to think workforce in addition to vaccine mandates, constraining increase in labor

fors participation massive publicly in stock market we saw in 2004, 006 howing bubble hay dais people, turning property sort similar thing today, charts, 4.4 million people drop out of workforce, chart -- versus s&p 500 i would challenge you to distinguish when which line is which they move together i think not really surprising to see this action given this bubble that we've got and i think frankly this report to the extent is it powell set up very hawkish tone now, creates a real dangerous backdrop for the markets right now going into year-end i mean if fed is determined to not taper but accelerate pace of taper pretty clear economy in growth and inflation, is all behind

us, -- things could get really rocky going forward. maria: don't forget, the tax increases they want to institute in 24 this economy as well if they get reconciliation package through expect more inflation higher prices not a big move in wages, and higher taxes to swallow as well approximately joanie, mentioned leisure hospitality 23,000 created way down from october where are you seeing job creation. >> you look at this report maria 90,000 jobs were actually created in professional and business service sector. now we know a lot of those jobs we still have people working from home, and working remotely. so to day vaccine mandate

point we are definitely seeing that is a challenge, and holding people back. i am not surprised to the -- competition, talent right now all levels, blue collar white collar is fierce more wage movement than in report, i can tell you for drivers up 18% can't find enough drivers if you look at jobs for drivers, over 300,000 if you look at all drivers over a million job openings this is what is holdings back supply chain we need to get more drivers participating going back to work a strong demand certainly for drivers a strong demand in health care, professional

services i.t., very strong, not only -- the lowest unemployment rate in the country. so it is a very, very strong job market i don't think that it is -- it is not demand side it is definitely the supply-side of why we're not seeing more growth, and factors like looming another you know variant of covid, vaccine mandates holding people back from participating. maria: let me just say we have revisions we mentioned earlier in september, thes revision 379,000 versus initial estimate 312,000 october payroll he revisions from 531,000 to 546,000 or october john ronskey how do you look at this report in taking into consideration, that the revisions look good

but november was not a good month. >> raising the possibility that november's result will probably be revised upward. that a i couldn't help but note that drop in unemployment rate we have had, the number of unemployed americans drop under 7 million i think 6.9 million compares with 10.4 million job openings. that is huge, we have 3 million more openings than number of people unemployed that gap could be attributed to perhaps a mismatch of skills shortage ascribed to failures in terms of public education. and we are talking about jobs from the establishment survey that a gained few hundred and 10,000 if you look at employment, as measured by household survey, people claim they have a job when working that was up by a huge number, you know, my rough estimate could could put something on

order of one million so you are getting two drastically different readings taking place on employment front when you compared establishment survey showing gain 210,000 with household survey that shows a massive gain of roughly one million. maria: interesting point lisa weigh in. >> well, maria, bottom line this is a mixed report i think obviously, there is concern over that headline nonfarm payroll numbers with coming in so low obviously, coming in the hope to stain pace we saw last month, with moving further, with -- kids back in school -- with you know the at least initially declining covid cases being able to get people back in workforce it is concerning we didn't see more, on the other hand, i am encouraged that wages have a

nice middle ground. we had increased levels come miss raet with the price deflation a positive participation rate picked up wondering for months whether we see that last month we at least got stability in the number nice to see that go up 2 percentage points, hopefully as things continue to move forward we will see participation rate turn into actual number of jobs moving up but, again, this month was a disappointment. maria: why do you think 4.4 million people left workforce in september lisa? >> well, you know, there is a lot of obviously, different things at play, but i think one of the things that have not been mention in addition to all the other great comments by other panelists is the fact a situation like a pandemic can force people to reevaluate lifestyle.

so, are something that we've been monitoring whether people actually choose to come back into the workforce, for example, or if, for example, they choose become one earner family rather than two earner family. maria: um-hmm dagen. dagen: i add exact numbers to what john lonski was talking about why dit unemployment rate fall so much you had you had 1.14 million people found jobs last month according to that separate household survey, while 594,000 people entered or reentered, the workforce. therein lies uptick in participation rate, but more hundreds of thousands of people found jobs or a million more than a million, in last month according to household survey so unemployment rate fell for the a very good reason. maria: okay. brian brenberg. brian: going with steve on

this one this is the policy uncertainty jobs' report. when you've got a vaccine mandate out there, that people don't understand, they don't know when going to happen it is tied up in courts remember this survey for this report, was mid november after we had got announcements about osha, mandate so forth, that kills hiring i was surprised to see it show up this quickly in november but i don't know how you can ignore right now that is an issue. >> one thing to that, first of all, something else we talked about, for the last 10, 12 months on this show, there is a widening gap between these red states and blue states. if you look over the last 12 months, 2 unemployment rate red states tends 2 percentage points lower than blue states, so i'm not sure why what that is partly red states more open, what really worries me

going forward look do i think the job market is pretty healthy i think upward reinvention i think jon is right about that you have to worry vaccine mandates lockdowns look what is happening in europe right now, europe, european countries locking down, curfews panicking over variant we cannot allow that to happen, we cannot allow businesses to be shut down again, it was a catastrophe -- >> germany is putting unvaccinated people on lockdown, you are right incredible what is going on in europe jon hilsenrath, i am giving you time to assess what you are seeing here i want your report, on what you see, obviously, nice to see wages up, but at the same time, the inflation is disappearing disposable income what is most

important jon. >> i want to reflect on what lonski dagen talked about i think nailed it i want to explain about this report every month labor department does two surveys,surveys 50,000 households 150,000 businesses sometimes spit out different he refleck shuns what is going on business survey okay it wasn't great the household survey this month was gangbusters as dagen jon said more than one million jobs created, in the household survey, we all saw labor force participation rising labor force increasing unemployment rate going down that was all good news, because of that i don't think the fed looked at this and said job market is weak we got to slowdown, the 4.2% unemployment rate, i think fed is slowing down bond-buying, you know maybe gets going faster on interest

rate increases. one other thing i talked earlier, about wages, in the leisure sector, 15% year-over-year increase in weekly wages if you are looking to make a few extra bucks right now go to a bar go to a restaurant, a great time to get a job like that. because wages are going gangbusters i do think when job market gets tight unemployment rate low we start seeing wages rise for lower income workers that is happening that is a o good thing for the fed, is if thank you let it get out of control inflation could become a problem. right now bond market doesn't think inflation is a problem with 2% bond yields the bond market saying they are not word i about it i don't know if they are right or wrong. but that is what they are saying. maria: a mixed bag of a report john lonski maybe not as bad as the headline appears, let me point out markets are off their best levels of the morning, dow

industrials now up just 38 points, moving lower fast your thoughts. >> you know, we did get some solid gains as far as manufacturing employment construction employment are concerned those tend to be much higher paying industries. compared to leisure and hospitality, go ahead, follow jon hilsenrath's advice take a job at a bar or a restaurant but you are going to find in a your average hourly wage i think at the bottom of the wage ladder when you go across different industries. that being said, focusing on wage growth 4.8%, that should be above 5% fairly soon we may be at the beginning of a wage price spiral that is is going to be hard to break when wages grow more rapidly in response seems to be a very tight labor market, not only are costs higher for businesses we also

find consumers are better able to afford higher prices and that tends to extend the stay that one time was considered to be transitory inflation. . >> well jay powell this week said time to retire the word "transitory" stephanie pomboy. stephanie: actually as you can see cover of business week, inflation is back. i mean if there were any clearer sign that peak is behind us, between chair powell finally -- not transitory and inflation on cover of business week, bells are ringing all over the place taking strategicness aside a huge decline in the labor indicators of inflation look at, index down 45%, in a few weeks copper down almost 10%, oil obviously, down 20%.

so you know, the -- the key ingredients to sustaining inflation already rolled over hard, again i think you know the fed is again going to get it completely wrong, and close the door after the horse has left the barn, again, you know this makes me -- really anxious about what is going to happen for the markets, for the numbers couple weeks or months. you know, here on screen, the tightening, the market prior to this morning's number has not changed, delayed looking at this number saying doesn't change the fed you know newly hawkish stance, moving forward the problem is going to -- everyone thinks that is fine because they are focused on what is happening on the supply-side front and effect

on inflation. but, demand is not -- you know inelastic there are points arriving prices snuff out demand we are seeing in houses autos, obviously. nay i am a broken record maria you know. maria: you want to sell into this stephanie you want to sell into move dow industrials up 63 a selle into this market? >>. stephanie: i am not vested in this market because i think it is a bubble so i would rather not try to be cute about when it is going to burst, no, yes, i i mean i guess if i mad positions i would be selling, and really looking to be on the sidelines because you have seen a huge increase in volatility the last few weeks junk spreads credit market pleads equity markets junk bond market, a horrible month, just yields a hundred basis points, the 10-year has gone down, widened up there are

hints that things aren't so great beneath the surface, with fed appearing to remove the combination you know just adds element of risk uncertainty to already -- >> a great point brian are you laughing i am not sure i want to find out what is over there, brian laughing. dagen: at business week cover saying i think. . >> stephanie funny you know behind it when you see on cover of magazine i think dagen wants to get in here. dagen: no, no, no, let brian talk ways going to add in terms of indicators i have been in this business more than a quarter of a century. one thing that is disturbing central banks are pulling back on the stimulus worried about inflation what happens to assets like bitcoin, you have

bitcoin companies namingp stadiums historically a sign of the top let me reminded people of enron. >> can i jump in dagen? you have been this this business long enough to know also that when business week puts an issue on its cover that is usually you believe when the problem has turned. dagen: right. >> to what is going on brings me back to bond market the bond market telling us it is not worried about inflation the bond market all bond traders, they might be wrong, but they might be telling us something about everyone else's worries about inflation, maybe, maybe they are overstated, i don't know if bond market is right or wrong but sending a very clear in as many even as fed is pulling back an its bond pictures yields are very low ethicaling us not worried about inflation that business week -- >> jon market should be worried about maria you brought up a few minutes ago, is this massive tax increase,

and you look at what the house passed a few weeks ago a disaster totally disaster for small bifrs "the wall street journal" rortdz we would have highest tax rates maria in the world if we passed anything like what is in that -- that atrocious house bill debate in senate i know markets, say well the republicans are going to -- somehow save us from this or joe manchin is i am not so sure about that. they have a you know a 65% tax rate in states like new york, california. would be totally disastrous one quick thing a vote in the senate last night on the vaccine mandate, that we started this conversation on, they passed -- they are not going to stop the vaccine mandate in the senate that is a bad sign because you know, started this conversation. on that.

maria: yeah, lisa jump in here, your thoughts, they will get something done, on this plan. they are going back-and-forth and back-and-forth on spending plan but looks like they will get something done, might not be 5 trillion dollars in costs that it is right now but the what do you make of what steve just said we are looking at much higher taxes in 2022. >> well, certainly from a stock market perspective if we get higher taxes that is going to impact the market. when both looking at you know the potential for the income to potentially come down in terms of corporations as well as taxation on server side so that would be a potential one time hit to the market certainly. maria: okay. so do you want to get ahead of that or wait to see how this plays out then what are you telling clients? >> well, you know, these things are really hard to assess only because as we have

all seen as this goes through process, right, the parameters of about what is going on magnitude what is going on or really changing we are really advising client by client discussion they need to look at individual situation how potential changes may impact and decide whether they want to move proactively so it is a little bit complex, but certainly a worthy issue for discussion. maria: yeah, a good point, joanie, weigh in average hourly earnings up 3/10 of a percent. >> i have to -- talking about the restaurant stock i do agree i can tell you transportation, logistics jobs, worker earnings are up 20% year-over-year, 25% over 2019. so there are jobs out there but i have to say we are seeing a bit of a turn too. last four to six weeks our

applications are up significantly. so that in line with labor force coming back to work maybe we really are starting to see that turn. people are coming back to work, getting more jobs filled. we might you see a switch and see unemployment start to tick up again, next year that could happen so -- >> -- >> where we are. maria: yep, stephanie tell us your standpoint in terms of the federal reserve, and when this taper program starts to get pulled back, how many rate hikes are you expecting in the new year? >> a non. i don't think fed is able to complete taper before they have to scratch it my forecast, this economy obviously, can't handle any increases in interest rates, as i mentioned earlier, you know junk yields up 100 basis points kind you of creates some problems for -- you know,

taking the -- accommodations effectively tightening, because this relies on expanding -- so slowing growth of direct is a drag. so i don't think -- no chance of rate hikes. maria: wow interesting, prediction there thank you so much everybody great conversation have a wonderful weekend as that good to see you. wonderful work covering those numbers. we will get the job numbers in a moment but first the omicron variant has been found in five states. we not going to go the way of the liberal media and fearmonger but give you the facts about this. we have rapid testing, therapeutics and drugs and the