tv Mornings With Maria Bartiromo FOX Business December 7, 2021 6:00am-9:00am EST
the good people at cameron energy will continue to labor on our behalf day in and day out because that is how america works. - [crew] down the next one. - do it all over again. - yep, sounds good. everyone. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 7th. your top stories right now, 6:0. a critical call is coming up. president biden set to hold a video call with russian president vladimir putin today amidst a rise in tensions with russia as it has a positioned a buildup of russian troops along the ukraine border. the u.s. and other world leaders threatening sanctions should things escalate. we'll get into the ramifications all morning long. markets are rallying, markets
are extending a big gain this morning with dow industrials up 365 points and the nasdaq up 305. 2% higher on the nasdaq after stocks ended in the green yesterday and investor worry over the omicron variant seems to be waning of. take a look at this rally underway. yesterday the dow industrials were up 647 points, almost 2%, nasdaq up 139, s&p 500 higher by 53. the rally continues in a strong he way right now. european markets are also striking a firmer tone, a big rally there as well with the ft 100 up 86, the cac up 155 and the dax index in germany higher by 331, that is better than 2% in germany right now. check asian markets overnight and they are also in the green across the board. best performer, hong kong, up 2 and three quarters percent. "mornings with maria" is live right now.
♪ i want to dance on the roof, you and me, all night long. maria: and your morning movers this morning, intel is soaring in the premarket, the chip maker announcing plans to take itself driving car unit, mobile eye public, stock is up 8% on the news. the ipo planned for next year, it could value the company can at better than $50 billion. meanwhile, check oil this morning, extending the gains. it is also trading up, prices rebounding, up 3% right now after 5% move yesterday as the omicron fears fade. it was the largest one-day gain since august. oil of course dragged down last week amid concerns that vaccines might not be effective enough against the new covid variant. that sentiment completely changing this morning with another move higher on oil by 3%. futures are pointing to a big move at the start of trading this morning. the dow industrials up better
than 300 points, the nasdaq also higher by 300 points, that is 2% on the nasdaq, 1% on the dow industrials and 1 and a third percent on the s&p 500. this after a big rally yesterday. all three major indices finished very strong. shaking off the volatility of last week, led by the dow industrials up 647 points yesterday, about 2%. the nasdaq also strong yesterday, up 139. and that was almost 1%. the s&p was up better than 1%. we're looking ahead now to next week's federal reserve decision, the central bank likely to accelerate the tapering and open the door to interest rate increases sooner than many expected in 2022. joining me now is portfolio manager sandy vilair. also joining the conversation all morning long is fox business' dagen mcdowell and executive vice president brandon arnold. great to see everybody this morning. thank you for being here. sandy, good to see you. thanks for joining the conversation on this important day where we've got rallies
underway across the board. what do you make of the strength in stocks? >> yeah, i would continue to buy this. i just think the reopening plays are going to continue to be strong and i want to avoid the stay-at-home plays, so you can tell there's more of a risk on trade and frankly i'm a lot more interested in smaller cap stocks that have making up to do, the s&p is up 22%, it's only up 11, i want to buy younger, growthier companies and look for the reopening plays. maria: you've got a lot happening this morning on that reopening trade, glaxo says the antibody drug works against the omicron variant, you're hearing a lot less worry about the omicron variant and its impact and that is really sort of setting the tone. what's your take in terms of what drives this market? we've got the federal reserve next week and we are expecting the taper plan to be in place and higher interest rates on the horizon. does that create a barrier or a
wrench in this rally? >> yeah, i mean, maria, you hit the nail on the ted. it's a tug of war between omicron and how contagious and how many hospitalizations versus what the fed is going to do. next week we could see the fed pare back the bond purchases. we think it sets up to 30 billion and we're probably done by march of 2022. i will say the fed has done a pretty good job of decoupling raising rates which i guess we've got two rate hikes factored in by the end of next year but decoupling it with the taper. so we'll see where we are. but again, we're not in emergency situation like we were back in the dark days of march, april 2020 and the peak of the covid variant. we're actually -- this is time where maybe the fed should taper and stop that emergency fund again and try to battle some inflation which as powell says
is not transitory at all. maria: i mean, look, you've got household items costing so much more, 50% higher in gasoline, 20% higher on some food. do you think that's going to crimp economic growth? does that create a barrier for consumers to spend money? >> it's very difficult on the consumer. you're starting to see even real wage growth just not there. obviously, we've got the energy pick pocket as we're all seeing the cost of gasoline at the pump. so, yeah, i think inflation's going to be tough but we are seeing the job picture a little strange, right. so last week we had looking for 573,000 jobs, came in at 210,000 which at first blush seems pretty rough but you look at that time labor participation rate, up to 61.8%. in my opinion, anybody that wants a job can pretty much have one, if you have 9 and-a-half
million unemployed, 9.2 million job openings so i think that's going to counter balance pretty well. maria: by the way, rick is on across the board this morning, not only is the dow up 365 and the nasdaq up better than 300, bitcoin is also up as well, back above $50,000 this morning according to a study from a crypto firm, gray scale investments, 55% of current investors in bitcoin got into it just over the last year, sandy. your thoughts on what's going on with bitcoin and where it is a year from today. >> yeah. so that certainly frightens me. i hate to see people getting in kind of i would say a little bit maybe late to the party and a people ask me all the time would you buy bitcoin and frankly i cannot calculate its intrinsic value despite the fact that there's 21 million bitcoin out there, there's certainly he ethereum and dogecoin and other things. it makes me nervous. it's going to be lower 12 months from now than it is today.
it feels like a bit of a bubble, reminds me of meme stock and going back to the tech boom when the market peaked in the march of 2000 and the nasdaq fell down 70% from there. i'm not saying history will repeat itself but it certainly rhymes. maria: sandy, know some of your favorite names are specific stock picks, right, not an overall theme here. >> at our firm we tend not to sort of spread things out everywhere. we have a rifled approach and zero in on individual stocks and love the themes with free port, everything from electric vehicles that uses four times as much copper as a regular combustion engine car to the infrastructure blot, that will be -- blot, that will be a -- build-out, that will be a beneficiary. caesars is a reopening play and
palomar, an insurance company, i think that's going to do quite well. maria: we have inflation in insurance as well. sandy, it's good to see you. thanks so much. >> thank you. nice to be with you. maria: have a good day, sandy. we are just getting started this morning. coming up, president biden gearing up for a critical call with russia's vladimir putin today as tensions are on the rise with russia over ukraine. general jack keane will weigh in. then, all is well in the vice president's office, right? or is it? hear what jen psaki has to say about reports that more staffers are eyeing the exit. then,y long's on an -- elon's on an electric tear, why the tesla ceo says build back better should not go through. don't miss a moment of it. you're watching "mornings with maria," live on fox business. ♪
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with chase security features, guidance and convenience, banking feels good. chase. make more of what's yours. maria: welcome back. now some of the top stories we are watching this morning. the ceo of tesla, elon musk, coming out against federal funding for electric vehicles, recommending, quote, canning it. the build back better plan. he is taking aim at the reconciliation package. watch. >> honestly, i would just can the whole bill. don't pass it. that's my recommendation. >> what about the support, though, for the charging? there are parts of the bill -- >> unnecessary. >> no? >> no. i mean, you know, do we need support for gas stations? we don't. maria: the reconciliation package allocates a tax credit to anybody buying electric vehicles manufactured by unions. those vehicles made by nonunion
employees such as teslas do not get attractive a rebate. musk pointing out the infrastructure package last month included $7.5 billion to expand the number of charging stations around the country, when questioning why more is needed. musk also discussed china, saying he has a good relationship with the country, home to tesla's largest vehicle factory by output. outgoing new york city mayor bill de blasio bringing more sweeping vaccine mandates on the city, on his way out. he says all private sector employees now need to be fully vaccinated and anybody who wants to go to a restaurant or an entertainment venue needs minimum two shots to enter, this includes children, ages 5 to 11 who must show proof of the shot as well. the announcement drawing sharp criticism. the deadline is set for decembe. that's four days before de blasio leaves office.
congressman devin nunes now set to resign from the house of representatives in the coming weeks to become the ceo of president trump's new social media venture. trump media and technology group will launch its own social media platform, truth social, next month after going public. it comes as we learn the spac taking the startup public is now under investigation by the securities and exchange commission. the agency reportedly looking into digital world acquisitions trading prior to the deal's announcement. the stock this morning is up 5%. one of vice president kamala harris' aides taking to twitter, proclaiming love for her job -- for his job amid reports of disarray in her office, the staffer writes this, i work for vice president harris on behalf of the american people as deputy director of operations and absolutely love my job. this comes after a former staffer told the washington post that harris was a bully who inflicted constant soul-destroying criticism on her team.
white house press secretary jen psaki defended harris yesterday. watch. >> the director of operations put out a tweet talking about how much he loved his job. there was a social media push this summer following negative headlines about ongoings in the vice president's office. did anybody ask the deputy director to put out a positive tweet today or was that all him? >> i'm not aware of any ask for a positive tweet or specific tweet. i would point you to the vice president's office. but i work with a number of people in the vice president's office who certainly are looking forward to continuing their jobs. maria: dagen mcdowell, you're here this morning. what's your take on this? dagen: that tweet, nobody likes a suck-up. number one. i don't know what the point of that was. but over and over again, i think about did president biden's team not vet kamala harris?
because this behavior as a boss goes back years and years and years and even on a kindergartner's report card, if you get a "u" for unsatisfactory when it comes to playing well with others, you're not going to progress and you're not going to move ahead. i don't know where they go from here. she definitely had talented people working for her and they didn't even make it a year before they said no mas. maria: yeah. well, something's obviously up, brandon, in terms of these resignations. we don't know if that tweet was directed or not. what are your thoughts here? >> it's curious here because you see such a large exodus of people. from what i can gather, it seems like it might cross the line from just being a tough boss into that territory where she is not treating her employees very well and these aren't just her employees. let's be honest here, these are
taxpayer employees. we pay the salaries of these individuals. so i think it is acceptable to shine a magnifying glass and learn more about how she is treating her publicly funded employees. i would like the media to put the same magnifying glass they put on the trump administration on the biden administration and see exactly what's happening in the vice president's office now. maria: probably not going to happen any time soon. you know that the coverage has been so different in the media. you're not seeing any focus on some of these failed policies there either in the media. so we will take a short break. when we p come back, democrat voters souring on the build back better plan. we are going to take a look at that with just a few legislative days left to get this through. then portland is on its own, police have a new warning for residents who need 911. it's the hot topic buzz of the morning. stay with us.
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legislation, saying they should just can the whole bill. joining me now, kat cammack. thank you for being here. interesting to hear elon musk trash this bill that is loaded with electric vehicle rebates. pretty much saying why do we need all of this? do we need support for gas stations? no. what are your thoughts on what you had heard from elon musk pertaining to the build back better bill? >> well, it's no secret that elon can dish out some pretty saucy tweets here and there and he's he's never short on an opinion which quite frankly i love, because there are some hard truths that this administration and supporters of this administration need to face. the fact remains that this level of spending is unsustainable. you know as an average joe that if the government spends more, we the people get to keep less. and there is no government bureaucrat who knows how to spend our money better.
so why in the heck are we continuing to spend on programs that a have nothing to do with growing our economy or improving our infrastructure? the social engineering programs are weakening our country as a whole and we know that americans just like we saw the poll 53% of americans are concerned bowed this level spending and inflation. we're already seeing historic levels of inflation which are just another tax so elon is hitting right on it. he's saying things many americans are feeling. this is a guy that would benefit from electric vehicle rebates. nowadays, who can afford a tesla at this point? maria: well, you know, part of the bill has a give-away to unions, congresswoman. i mean, you're getting a major rebate if you buy an electric vehicle, made in america by union workers. you could buy a tesla made in america but you're not going to get union workers so tesla doesn't get the same rebate as
other electric rebates -- electric makers that are using union workers. so that's part of it as well, i guess. >> yeah, exactly. and what we know is that the build back better bill is just riddled with all kinds of special interests and give-mes and at the end of the day. maria: like this one. >> exactly. and this is a perfect example of another special interest item that has been tucked into this massive bill that no one has read, that the democrats are looking to ram down the american people's throats. we need to get back to the basics, not continue to fill up these bills with nonsense spending when we're already on track with historic inflation and a year where we could see upwards of $9 trillion in a single year being spent. maria: yeah. i want to get your take on the border. first, let me bring brandon arnold in who is with us today on this electric vehicle story. brandon, this is a give-away to unions. that's spes lick in the bill -- specifically in the bill.
not all electric vehicles are treated the same. brandon: that's exactly right. the credit is enormous. people can get it even if they make as much as half a million dollars a year. and you're right, the bigger credit goes to the union made vehicles so it disadvantages some of our newer, innovative companies like tesla. it disadvantages southern states which increasingly moved away from a union workforce to a right to work, workforce. this is about a special interest give-away that costs taxpayers billions of dollars. it needs to go. maria: unbelievable. congresswoman, i want to get your take on what you're seeing at the border. i've been breaking news this week about what's going on in houston, about the number of got-aways. i just spoke with brandon judd who said that just in the first two months of the new fiscal year, 100,000 got-aways were seen on surveillance. the rio grande valley sector has seen more than 100,000 illegal
encounters since october 1st, that is a 163% increase from the same time period a year ago and we know that 600,000 people got away in the fiscal year last year and now he says already 100,000 people have gotten away in the first month -- first two months, rather, of the fiscal year. what are you seeing at the border? >> well, it's just getting progressively worse. we were already at a crisis level at the beginning of january. now we're seeing an increased number of got-aways because there's not going to be any enforcement of the laws that are currently on the books once they get across. i spoke with a sheriff here just a few days ago who had a group of illegals that their van had broken down in our hometown. when he said are you here illegally, they said no, we're here legally. he was told that he needed to stand down because if he sent them to i.c.e., i.c.e. would release them within 48 hours and it would give license for those
illegals to turn around and sue that sheriff for unlawful detention. so we have literally tied the hands of our law enforcement officers at the federal to the local level which is why you're seeing people who don't want to be apprehended. they want to be considered a got-away, then they are here, there's no accountability, there is nothing that anyone can do about them being here and if they are apprehended and then subsequently released into the united states they at least are given a five year notice to deport and report to i.c.e. down the road. do any of them actually do it? no. but it's going to get progressively worse. we have got to secure our borders, uphold title 42. we just got the remain in mexico policy back but i fear that it might be a little bit too little too late. that's why we need to get firm on really supporting our border patrol agents, got to get rid of the vax mandates on agencies that are struggling, you have to get the force multiplier, the wall. these are things that are common
sense and protects americans because every town in america as you know, maria, is a border town you now. maria: what doesn't make sense is the fact that nobody is getting tested at the border and yet we have a mandate in place for border patrol. governor abbott told me on sunday that cartels are using tiktok, they're getting get-away drivers to drive people to houston and now houston is a completely changed city, one of the big businesses there is making fake documents. it's just incredible what's going on. congresswoman, we'll keep a spotlight on it. thank you so much, congresswoman kat cammack joining us this morning in washington. quick break and then more bad news for cnn. actor jussie smollett claims in court that anchor don lemoned tipped him off about the investigation into his hate crime hoax. the very latest from the trial and what's going on within cnn. at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it. is tuesday, december 7th. take a look at markets this half hour. we are looking at a rip-roaring rally underway. the nasdaq is up about 300 points, s&p 500 higher by 61. what omicron variant? futures are extending yesterday's bill rally. yesterday the markets saw the worries over the omicron variant waning and as a result stocks shot up. the dow industrials were up 647 points by the close, almost 2%. the nasdaq was up 139 and the s&p 500 up 53 at 4:00 on wall street. check european markets this morning, also rallying this morning with the ft 100 higher by 88, the cac up 155 right now and the dax index higher by 325. in asia overnight, green across the board there as well, here the best performer was hong kong, hang seng index up 2 and three quarters percent on the session. meanwhile, shocking revelations to share from the jussie
smollett trial. cheryl casone with the details right now. cheryl. cheryl: that is right, maria. the actor testifying yesterday that cnn's don lemon had texted him telling him chicago police didn't believe his account of the 2019 hate crime. don lemon covered the case on his show last night. he made no mention about the alleged contact he had with smollett. the actor admitting he paid the brothers for nutrition and training advice but not to stage any attack. prosecutors say he staged the attack because he wasn't happy with the response to hate mail he received. instagram is trying to make its platform safer for teens. the company can announcing several new features like parental controls and option to prevent people from tagging or mentioning teens, the changes coming before the ceo testifies before the senate following
reports that show fume and instagram -- shows facebook and instagram knew of the problems. samsung is looking to merge the mobile and consumer electronics business into a single unit. they will have two ceos overseeing two divisionses, the semiconductor business and newly created set division that includes mobiles, tvs and consumer electronics. in october, samsung reported the highest quarterly revenue, from strong demand and increasing prices. they announced plan to build a semiconductor factory in central centraltexas. listen to what greg abbott told maria on sunday morning futures. >> texas is leading the way, becoming the home for semiconductors for everything that people need, not just your iphone and laptops, it's in all of the vehicles where you have manufacturing going on. this last week we announced the
rollout of the toyota tundra and they use semiconductor chips in their trucks and so texas will be the home of semiconductor manufacturing going forward. cheryl: this plant could create 1800 jobs in the state. and finally, today marks 80 years since the attack on pearl harbor. on this day in 1941, japan launched a surprise early morning attack on the u.s. naval base in hawaii. over 2400 service members and civilians were killed. in addition, nearly 20 american naval vessels were destroyed along with over 300 airplanes. the devastating surprise attack leading to the united states entrance into world war ii, maria. and those are some of your headlines. back to you. maria: all right, cheryl. thank you so much. president biden is set to meet with vladimir putin this morning to discuss the russian troop build-up along the ukraine border. the white house prepared a new round of sanctions on russia but they are stressing the diplomatic route to he resolve
this crisis is best. watch. >> i would say that our objective here, cecilia, is conveying diplomatically that this is the moment for russia to pull back their military build-up at the border, that diplomacy is the right path forward here. maria: and joining me right now is fox news senior strategic analyst, general jack keane, general, it's good to see you. let me take this opportunity on this pearl harbor day to thank you for your incredible service to our great country over these several decades. >> thank you very much, maria. we certainly honor what took place at pearl harbor, quite extraordinary. maria: yep, it sure is extraordinary, launching the united states into world war ii. your thoughts on where we are in terms of conflict with russia? >> well, first of all, just going back to pearl harbor, i mean, it was that surprise
attack that finally got the united states involved not only in war against japan, but quite significantly with europe which the american people largely wanted to stay out of but they declared war against us and obviously we made a major contribution in both theaters. no country had a larger task than what the united states had to fight a war in europe and also in the pacific. but given what's going on here today with president biden and putin, this is a very consequential meeting, it's one of the most significant meetings we've had in decades, frankly, because we have the russian president right on the cusp of a military operation, certainly in ukraine, 110,000 force there's and i think he's got three issues that are driving him, one is he doesn't want ukraine top become a part of nato and he's very frustrated. after seven years of being in crimea and in eastern ukraine, the ukrainian people
overwhelmingly want to move towards the west in terms of their fledgeling democracy and have an economic integration with the european union and have an alliance with nato and that is frustrating for him. number two, he doesn't want us to provide lethal military assistance to ukraine. he's looking at not just us but nato members. and the third thing is he doesn't want the ukraine military, which has been building up its capability, to increase its forces and begin to crush the separateist movement in eastern ukraine. those are the lines that he has going into this discussion and certainly biden has got to push back on the fact that ukraine's a sovereign state. they make up their own minds who they want to be aligned with. european union and nato. and it's not our place to certainly dictate those terms to them. but frankly, quite frankly, i think the major issue, it's off
the table that u.s. troops and nato troops are going to go into ukraine and try to prevent an attack or respond to an attack that takes place because it's not an aligned nato mission. we've had three presidents dealing with putin over ukraine, obama, trump, and now biden, and we never put troops on the table as an issue in dealing with the ukraine and we've never taken that as a red line to the american people. so that's not going to happen. but sanctions are. and too, the nord stream 2 pipeline, it's still there and we can stop the use of it. banking sanctions, the swift banking system, the telecommunication network that drives transfers and payments, all very tough economic sanctions would have a devastating effect on putin's economy and certainly going after his inner circle, similar to what president trump did with
oligarchs, there's plenty of options here in terms of some very tough economic sanctions that biden can impose but they also have to have a way for putin, if he's not going to commit troops in there, to walk away with something in his hand. because he's not going to back down and be humiliated in front of his own people. that's not putin. so these negotiations are very critical. maria: will he do any of that? i mean, he's got options but will he actually do any of that? no doubt vladimir putin is taking a page out of china's book with the ccp making it clear that taiwan is their red line. so we've got two situations here that seem to be bubbling up. the ccp and taiwan and russia and ukraine and then we learned this week that china is seeking its first military base on the atlantic ocean in the country of ofequal tore y'all begin you any
-- equatorial guinea. what impact does that have on security as well? >> you put your finger on the issue that i had. is our resolve and our determination to execute and i think it's no accident, maria, that in this ten months of the biden administration, china, iran, and russia have all accelerated their aggression in trying to take advantage of the united states to achieve their national objectives. they've all upped their game. and why is that? i think it's because they perceive that this administration is more about accommodation and appeasement than it is about confrontation. that is the concern i have, that we'll go in there, talk tough but still play a weak hand. in terms of the base in africa, certainly that's of concern to us. china now will have a naval facility, looks likely, on the
atlantic, the first one ever. we're pushing back on that. and hopefully our diplomatic efforts and our ability to assist this country will make a difference but i think it's late. this first came up in 2019, the trump administration talked to the country about it. we've within working on this for a number of months and we haven't been able to dissuade them so far. the president of that country and president xi have a relationship and we have sanctioned that country for human rights violations and been quite critical of them and we have ample justification for that. they're a rich country, they have oil, offshore oil. we could impact that a little bit because our oil companies are sustaining that effort. we have some leverage here. i believe china is trying to become a global power. we have hundreds of bases outside the united states. china has one in jabuti, close to the suez canal choke point
where they can influence the middle east oil that they are dependent upon. now they have one in the atlantic. they're going to have many other global base -- bases. that's just a fact. they want to be a global power. if you want to be a global military power you have to be able to project that power and military bases are one of the ways you do it. maria: and we'll see if they take over of bagram air base as well in afghanistan. it certainly feels to me that the u.s. is on its heels in the face of all this. we'll be watching this putin/biden call and report back. general, it's good to see you. thanks very much. general jack keane joining us this morning. quick break and then elon musk says no thanks to federal electric vehicle spending and aid, more on that. plus musk's comments on china as well. we'll bring it to you when we come back.
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maria: welcome back. we have breaking news. the ceo of american airlines, doug parker, will retire next year. he will be replaced by the president of the company, robert isom. shares of american airlines are trading up with this news, up better than 3% on amr, american airlines parent. meanwhile, elon musk takes aim at biden's spending agenda. last night, coming out against federal spending for electric vehicles.
watch this. >> honestly, i would just can the whole bill. don't pass it. that's my recommendation. >> what about the support, though, for the charging network. there are parts of the -- >> unnecessary. >> no? >> no. i mean, you know, do we need support for gas stations? we don't. maria: the reconciliation bill gives a tax credit to people buying electric vehicles that are manufactured by unions. meaning that the rebate is not as attractive with tesla's nonunion employees. the infrastructure bill did include 7 and-a-half billion dollars to expand the number of electric vehicle charging stations across the country. joining us now, tech analyst, pete pashal. great to see you. thank you for being here. your thoughts on what you're hearing from elon musk? >> yeah, i'll say this for elon musk. he is extremely confident in his vision of the future. he talks about things like self-driving cars with absolute
certainty, like he is seeing the future and knows it's going to happen. with respect to the electric cars and what's in the bill, he clearly sees electric cars as inevitableity, that we're going to go to almost a full electric or mostly electric fleet of cars on the road and so he's kind of in a position where with tesla now that he's sort of on the other side of that success curve, that he can conveniently go, you know, we don't need the subsidies anymore, we don't need subsidies for charging stations. and while that -- he may be on to something with regard to the inevitableity for electric vehicles, it's convenient that his position doesn't mean much for tesla but it's going to hurt his competitors. maria: yeah, musk also discussed china and the fact that he has a major factory there. watch what he said about the ccp. >> there are a lot of people in the government in china who kind of grew up with china not being
-- with china being a small economy and maybe who feel like china was pushed around a lot and -- but they haven't fully appreciated the fact that china really is going to be the big kid on the block. overall, tesla has a good relationship with china. maria: musk said that china is headed toward having an economy two to three times the size of the united states' economy, peter. your thoughts? >> yeah, so on china, like he -- if you're a cynic, you probably see his comments about china in terms of like calling them the big kid on the block as somewhat flattering to the regime, even though he said it in anonymous way, like look out. he's making them out to be the big thing. i don't necessarily think he's wrong, it's just it's a convenient position to have when
a good chunk of tesla's cars are made in china and he needs to have a good relationship with that regime. i certainly think he believes everything he said. and again, this is a guy who does scale and time scale far in excess of what normal like -- like you normally think of in the short term, if you look at his other projects like star ship which he also discussed. that's a thing we're not going to see realized if at all for years, if not decades. he's on this whole other level. if you were listening to him last night, you would think he's either a brilliant innovator or he is simply in his own world. maria: yeah, i mean, he definitely said he spent much of his time on the space part of the business as well. pete, it's good to catch up with you. thanks so much. pete pashal joining us this morning. we will take a break. when we come back, the true cost of cutting police presence, portland residents are now asked to wait longer if they call 911. it's the hot topic buzz. stay with us.
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the evolution of sports betting is now b2b technology for restaurants, bars, casinos and consumers. the future of sports betting. elys game technology. maria: welcome back. time for the hot topic buzz. rising crime and staff shortaging takes a toll on the portland police department, delayed 911 responses. officers only responding to priority 1 and priority two calls as they struggle to keep up with the city's critical
incidents. last month portland city council vote today increase the city's law enforcement budget after cutting it in june of 2020. brandon, your thoughts, how did they think it was going to end up defund the police? >> they are understaffed, underfunded the police department, of course, crime is going to go up and in some reasons in the minds of certain people the police have become the bad guys even when they're able to put people in jail the prosecution isn't actually going through with what they need to do to keep people behind bars. it's an absolute mess and they need to overhaul the judicial system there? >> david, if you call 9-1-1 you have to wait. we have priority one and priority two. i'm waiting to get killed? dagen: this was specifically related to a carjacking on an interstate and why would the
police department put out a notice, we are not going to be there for you. now is a really good time to break into people's houses but dehumanization has the same effect as defunding the police and you're seeing that coast to coast. maria: yeah, we sure are. we want to take a break. coming up the battle against big tech. i will be speaking with the ceo of rumble on taking the company public via spac. mornings with maria begins right now. ♪ ♪ maria: and welcome to the second hour of mornings with maria, good tuesday morning, everyone, i'm maria bartiromo, it is tuesday december 7th, your top stories right now, 7:00 a.m. on the east coast. president biden's fake outrage in the beijing boycott, republican lawmakers say keep the u.s. officials from the beijing olympics did not go far
enough with the diplomatic boycott. they want the games to be pulled out of china. we are on the fallout all morning long. markets are rallying. tripling-digit moves, better than 300 points on the dow industrials as well as the nasdaq close to it. the dow is right now up 363, better than 1%, s&p up 10 points and the nasdaq high -- by 284, one and 3 quarters percent this morning. extending a big rally yesterday, wall street saw the fears over omicron waning yesterday as a result stocks shot up, dow 647 points, almost 2%, nasdaq up 139 and the s&p 500 higher by 53, better than 1% yesterday as well on the s&p. european market this is morning are also strong. take a look at the rally underway in europe, cac up 156 and the dabbing index high -- by 324. in asia overnight, green across the board, hong kong was the best performer, hang seng index
up 2 and 3 quarters percent. mornings with maria live right now. president biden set to meet with vladimir putin on video call and discuss the russian troop build up along the ukrainian border, intelligence reports estimate that is more than 175,000 russian troops are near the border with ukraine. that's twice the size of last year's buildup, the united states and european allies have discussed issuing sanctions if they cross the border into ukraine. russia is denying preparing for invasion and accused the united states of trying to destabilize the region. back in the u.s. former republican senator david perdue launching campaign for georgia governor in attempt stacey abrams from getting the job. >> she wants to transform our state into another failed state like california. you heard the news about san francisco, that's what she wants to bring to georgia and i'm going to stand in the breach and
make sure she never does that. maria: perdue already endorsed by president trump says georgia needs a more conservative agenda but brian kemp is not up to the task. outdoor going city mayor de blasio burning down the city before leaving bringing more sweeping vaccine mandates on the city. he says all private-sector employees now need to be fully vaccinated. anybody who wants to go to a restaurant or an entertainment venue needs minimum of two shots to center. ages 5 to 11 who must show proof of the shot as well. the announcement drawing sharp criticism from business leaders and scholars questioning the legality. the deadline to get vaccinated is december 27th, that's just four days before de blasio levers office. meanwhile congressman devin nunes is set to resign from congress in the coming weeks to become the ceo of president
trump's new social media company. trump media and technology group will launch its own social media form truth social next month. we learn that is pac which is taking the start-up public is now under investigation by the securities and exchange commission. agency reportedly looking into digital world acquisitions trading prior to the deal announcement. stock is up almost 6%. time for the word on wall street. top investors watching your money, chris, payne capital management ryan payne and endowment fund chairman denise garthman. great to see everybody, gentlemen. thank you so much for being here. chris, kicking things off with you with incredible rally this morning. omicron concerns apparently waning with the dow don't about 1% and this morning covid antibody treatment is effective against the omicron's mutations according to new data
from early state studies, chris. your thoughts on what's going on this morning on top of another big rally yesterday, dow industrials up better than 600 at the close. >> yeah, i think some of the panic form has gone away, however, there's most certainly political risk out there. bill de blasio trying to burn down the city and you have a gubernatorial candidate in the state of new york that wants to bring back complete mask mandates which is partly absurd. that's what's working out there. great columns, mark seigle how mutations are not necessarily a bad things. the instant reaction by many in the mainstream media is to get everybody freaked and what is interesting the timing of it, the omicron news and pushed everybody over the edge than it would have been. maria: a lot of people were not
buying the worry on the friday with volumes so low and that's the day that they chose to come out with these new restrictions in terms of travel, so would you buy this market here at these levels, chris? >> well, yeah, some of the companies -- there's a little bit of fault coming out of the market. goldman sachs has index in regards to technology companies that are profitable. about 50% of the ipo's that have come out this past year are actually down which means some of the form comes out of the market. quality companies out there and you look for value, some of the things that have come up but some has come off the top. maria: all right, ryan, i want to turn to what we are seeing in the inof vagues of vehicles. intel to take self-driving public, that's mobile-i, could potentially value the company as
more than $50 billion. your take on, i guess, really creating value out of intel. >> yeah, i tell you what, intel made an awesome investment because that company was worth 15 billion when they bought it in 2017 only four years ago. the company's renew has tripled over the time frame and it makes sense right now. it is a hot ipo market, we are talking about spacs, traditional ipo and just to put in perspective right now, we've had $600ed raised in ipo's in spac. highest level ever and highest before that 2007 at 400 billion before the great financial crisis. from intel perspective, great investment, great time to get liquidity and focus on what they can do and manufacture chips,
largest maker nvidia, this gives them cash and build factory in arizona that will cost 20 billion and this will go a long way to re investment and getting focused on again. maria: yeah. for the country too. it's good for the country. >> absolutely. maria: we will be talking about samsung in texas and texas instruments investing in texas, so perhaps this manufacturing increasingly is going to happen in the united states. denise, we want to look at oil, though, having said all of that. we've got another rally this morning. oil prices up 2%. 3% actually right now, back up to 71.72 on crude as fears from omicron variant wane and stalled iran nuclear talks, your thoughts on the supply-demand dynamic for oil right now? >> well, first of all, let's look at the term structure.
there's a little problem that exist given the fact that we took crude oil from 82, $84 a barrel for wti down to the middle 60's. we are bouncing in the middle 11's and normally when that happens, when you get a good bounce as we've had for the past 3 or 4 days, you should see months leading to the upside and are really not and money levers footprints and the term structure has been narrowing even that we had a market rally. we are seeing a bounce predicated on talks today between president putin and president biden which may go awry and may work and concern that the united states will do something to stand the russian exportations of crude oil. but that's been supportive for the crude oil market, however, i do not think unless something really important happens today between putin and biden and the talks go totally awry, i can't imagine that we will get above
82, $83 a barrel again. it would be difficult to do so. if they do go awry, they can go anywhere, but the fact that it's acting when the market bounces as well it's a signal that this is a bounce after the break that we had over the previous two weeks. maria: well, i will tell you, my sources were spot on when i talked about what i was hearing about friday's move, low volume, low liquidity, the day after thanksgiving is the day that we learn about omicron and all of these restrictions that the administration put in place, i spoke with several sources who were questioning that 13% selloff in the price of oil and here we are back above $71 a barrel. they were totally right on that. bottom line, denise, would you buy oil at this level, do you think it's going higher? >> i think it's it goes to maybe 81, $82 a barrel. test the highs of a week or two week ago, i doubt it gets much through there if at all unless,
of course, we have something untoward that happens between russia and the united states in the talks this afternoon. maria: got it. >> i don't think it makes new highs. maria: all right, we will leave it there, chris, ryan payne, denise garthman, always a pleasure, gentlemen. thanks very much for the great word on wall street, have a good tuesday to all of you. much more ahead another cnn anchor involved controversy after jussie smollett says he received a warning from don lemon about his case. this came up in the trial and we will get into it and america's crime surge has one police detective warning to stay away from his city. we will tell you where. then the supply chain robbing consumers of christmas presents, what one company is doing making sure you have trees under your tree. we will get back to this fantastic panel when we come right back. you're watching mornings with maria live on fox business. ♪ ♪
maria: welcome back, actor jussie smollett taking the stand yesterday in his defense he reiterated that he did not stage a hate crime in january 2019. he's currently facing charges with 6 counts of felony disorderly conduct for making false police report about alleged racist and and homophobic attacks. one of the revelations was cnn. don lemon texted him at the time of the attack sharing information that the chicago police department did not believe jussie smollett's account of what happened. dagen, what did you make of this? dagen: journalistic ethics brought to you by cnn maybe not surprising after what we have seen chris cuomo do with the network and what we have seen jeff zucker tolerate in terms of behavior and zucker knew everything what was going on and discussions work for and with
his brother, but now this revelation, the bigger question is, so discovery is merging with cnn's parent company, it's going to be warner brothers discovery, maybe the merger complete by the middle of next year. what does david has to say and do about zucker and cnn and malone who a has major share, is it enough to get rid in cnn, if they keep it, i would expect changes would be afoot in how this network is run. maria: well, john malone was interviewed recently and he said he would like to see cnn go back to news and you wonder what that looks like. cnn going back to news and taking all of those opinionated people out of there, brandon, what are your thoughts on what that might look like?
>> well, my head is spinning from this entire ordeal to be honest with you. first we get a hate crime and then covering it up and cnn involvement, the mainstream media perhaps helping to cover this up, i'm wondering what act is here and is it going to be scooby doo, the story has become ridiculous. maria: it's not new, brandon. as i mentioned yesterday, this is a cnn story, in the a cuomo story. the network has just ignored truth now for 5 years, unable, there was a real inability to cover donald trump fairly and they reported that there was russia collusion for years, misleading viewers significant with jake tapper among one of the first people reporting on the steele dossier as if it was anything. we know now for a fact that it was all a big lie and it was
hillary clinton trying to take down her political opponent but that all was front and center on cnn for several years. we will take a break. when we come back, taking on vaccine mandates. indiana senator mike brawn is here to discuss efforts he's leading, that's set for a vote and stay away from los angeles we are being told. we will tell you from new message from lapd in hot topic buzz, stay with us. ♪ ♪ ♪
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maria: welcome back, new york city mayor de blasio requiring all private-sector workers to be full have you vaccinated against covid-19 and that begins december 27th as the senate is set to vote this week on a bill to block president biden's vaccine mandate for private companies. this bill is likely to pass with support from democrat senator joe manchin and all 50 senate republicans. joining me right now indiana senator and bucket committee member mike braun, senator, thanks very much for being here. you are leading this effort to get this mandate blocked and we've already heard from the supreme court about it. senator: so many things say that this is kind of the extension of lunacy in government. you have to remember the democrats have viewed the whole navigation through covid i said from the beginning take it seriously but they want us to
marinate in fear, they have no appreciation for the productive side of the economy that they then expect to pay all the bills and you get a guy like de blasio that calls it preemptive strike, way out the door, i wished he talked to the businesses ravaged by his policies in new york. i mean, new york city. it's crazy how much that size decision making and the government is taking over the dynamic. it's coming in today and even places like rock and roll, you got eric clapton that wrote a song. this has got to end. we cannot keep marinating in fear. dynamic needs to come back to the people on mainstream, not big government, not big business that are trying to control the dynamic. maria: so how is it possible that a federal judge thinks it's
unconstitutional to have mandate of joe biden with companies with 100 employees or and bill de blasio says we will do just that in new york city? >> they don't care. they are -- i call them political entrepreneurs. it's kind of debasing of the word but they run with it, their business is government especially at the federal level. that's why on the cra, that was our only tool to get every senator on the record every house member as well and now we've got a bipartisan in the senate. that was a huge accomplishment last thursday, every republican member of the house is on it and there has to be at least 20 swing state representatives in their districts that have to be shaking in their boots about going against what even an axios poll said, when you get the vaccine or lose your job, that's
government and overdrive. it's got to end and we can't keep paying the bills that go along with the crazy policies. >> it's just extraordinary the overreach and the lies as well. you talk about paying the bills. what about this 5 trillion-dollar spending plan and where does it stand and do you think schumer and policy >> i'm relying on manchin to get that out there. he's been public and i got the feeling with his constituency in west virginia that he's going to be mostly true to his word. they've invested so much political capital, egg on pelosi's face like i've never seen it before with the fumbling around when they were connected, biff and bbb. i think they will get something across the finish line. i hope that we keep delaying it
and get it to 2022, the longer we can keep it at bay, the better off, mainstream economy is going to be. we need to point out what it's really about more government in every level of our life. maria: meanwhile, what's the diplomatic boycott, they are talking about human rights concerns. we have been spotlighting what has been going on for xixeng. u.s. athletes will still be able to comp pleat, this is what the diplomatic boycott means. a lot of republican lawmakers say this doesn't go far enough. they are urging the president to get the games removed from china, senator, where are you on this? i seem to remember that xi gin t
want anybody there anyway. >> i was listening to elon musk about china being an economy larger than ours. what you need to worry about mostly is their geopolitical aspirations to replace us on the world stage, not only economically but controlling the dynamic, taiwan, what russia is doing in ukraine, that would be something if we came out and did something substantive would be a lot better than the window dressing, the short-term reaction to players that are rogue across the world. we need to do more than that and we need to be out there with something that says for the rest of the world this is where we are because china, their
long-term players, they got a lot more endurance for pain and they're going to keep pushing their agenda regardless of what we do especially when it's window dressing only. >> well, he won't even bring up the origins of covid when he speaks with xi jinping, what's that about, why not put china's feet to the fire, where did this pandemic start, why did they cover it up and why are we afraid to even mention this? >> i think it's not only embedded in our politics, it's embedded in corporate america, wanting to tiptoe around the bad behavior of china and if we keep doing that, they're going to win in the long run and we are going to be regretting that we were timid and that we weren't a little more forceful in our point of view and we will lose respect across the world. >> well, it feels like that's happening, senator, we will be watching all of that. thanks very much for being here
this morning. senator mike braun in dc. thank you, sir. quick break, energy cost on the rise, how president biden's flawed policies are contributing to a crisis in oil. crude oil back above $71 a barrel right now with a gain of better than 3%. saving christmas from the supply chain crunch, how one america toy company is making sure you get the gifts on time. we will get you there live.
maria: welcome back, good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo and it is tuesday december 7th, a look at market this is half an hour where we are watching a rally underway get stronger, do dow industrials up 341 points, 1% and s&p 500 up 58 and nasdaq up 284, slightly high, better than 301 earlier. one and 3 quarters percent higher now this after rally
yesterday on wall street after concerns of omicron variant are fading. rallied 647 points at the close. almost up 2%. nasdaq about 1% and s&p 500 better than 1% higher yesterday with gain of 53 points on the s&p 500. european markets are also firmer this morning. we have a rally underway in europe as well. ftse 100 higher by 84, the cac in paris up 156, that's two and a quarter percent higher in france, the dax index in germany up 307, also 2% higher there. in asia overnight, green across the board. hong kong was the best performer, hang seng index up 2 and 3 quarters percent in hong kong. republicans are blasting president biden's diplomatic boycott of the olympics. cheryl: get the games removed from china completely. tennessee senator bill hagerty
saying recent disappearance of pengha say saynite t stedtesdd ld aeand a ptect p hhlhln bee cli cng rt,uo,e w did d dt, gdoooo eno eh. tesxalenwhihi d ang bt blocdeoc alode tngioee evaeor in r io ito s s migigs omfr croinroing iegllhe area h usedumanan oms s orderdedetectns reveve00igrants were w de inhe rio gnd g g eyvaecvarec withi w 244. region has seen more than one hundred thousand illegal encounters since october 1st, 163% increase from the same time last year. well, toyota announcing plans to build $1.29 billion battery plan for electric vehicles in north carolina. it's capable of producing enough lithium ion batteries for
200,000 all electric and hybrid vehicles, construction on the plant near greensboro in 2025 25 bitcoin battle settled in court. craig wright, man claiming to be creator of bitcoin sued by fortune by family of former business partner who died in 2013. the jurors in case ruled against the family's claim after week of deliberations. bitcoin's origins have always been a bit of a mystery. back in 2008 a person named nakimoto published a paper laying out framework for digital currency that would not be tied to any legal or sovereign authority. well, there's bitcoin. above 50,000 again this morning. those are some of your headlines headlines, back over to you. maria: executives butting heads
with expect on energy transition calling for a more cautious approach. officials from exxon mobile and chevron blaming demand for renewables and lack of investment in fossil fuels for the recent shortages and the surge in prices. department energy secretary david turk is pushing back saying there's not alternative to stepping up and fixing the threat of climate change. joining me right now epa administrator andrew wheeler, andrew, good to have you. thank you very much for being here. we are talking about the build back better plan every day that the democrats are trying to push through, this is largely a new energy plan. this is a green plan with $555 billion of policy around fundamentally changing the economy. your thoughts on where we are on that? >> well, thank you, maria, for having me on your show today and, you know, one thing that's buried in the build back better plan that most people don't realize, they put a new tax on a
barrel of oil and super fun tax and time when americans are concerned about rising tax of gasoline at the pump, the biden administration and nancy pelosi are trying to tax oil even more, it just boggles the mind the way they are approaching this. this is a supply issue and they have done everything that they can over the last year to decrease american supply, american production of oil and gas under the name of climate change. maria: that's right. we already heard, you know, biden's new mexico knee for comptroller of the currency saying she wants to see oil and oil companies go bankrupt and that's what we want to see because we want to deal with climate change. this is all intentional where prices are, where they are because of the supply issue, assess the economy demand dynamic in the market right now? >> well, what president biden is asking opec to step up and
deliver more oil to us instead of u.s. production, u.s. production is cheaper and it's here. we have the resources in the united states but it's also cleaner. oil in opec is much dirtier than what we would produce in the united states. it's actually worse for the environment, what they are doing. they have decreased supply by decreasing permits on federal lands, taking parts of alaska offline and also increasing the price here domestically through new regulations and the threat of new regulations. so all of this is making production here in the u.s. more expensive and they want to ask opec countries to step in and produce more. they are worried about the short-term impact of the gas at the pump for next year's elections but they want u.s. consumers to pay more long-term because they want the price of energy to increase because they
want americans to use less. so if you're in that camp, that's fine. but most americans don't want to pay more for their gasoline. they don't want to pay more for home heating this winter and home heat asking going to go up 50%. maria: unbelievable. it's actually a joke when you look at the hypocrisy of that climate summit that they had recently with the larger footprint in terms of pollution than we've seen in the past, certainly in the last climate summit and you also had, you know, joe biden and his 85 vehicle motorcade driving around italy. it was really hypocrisy at its best but what gets me is what's going on with energy companies as well. they are pretty much telling the exxon mobiles of the world, don't do what you do, change your business altogether and the administration is also work to go reverse a trump-era decision that would have cleared the way to move water across public land in the california desert. plan to use old oil and gas
pipeline to carry ground water from aquafiers and would dry up spring and indigenous tribe that they rely on. what are your thoughts on this? >> you know, blm, bureau of land management did a great job in looking at the project and approving it in 2020 and there's no reason the project can't go forward. california has really screwed up their water supply for years and they have a lot of environmental problems that they aren't addressing. they are appeasing a small vocal environmental community in california at the same time, for example, in san francisco, the e city of san francisco is dumping raw sewage in the san francisco bay. you have the homeless camps in los angeles and other communities in california that are dumping raw human sewage in sewage going after the oceans, a lot of environmental problems with the water in california and
they have -- this is classic example of a misappropriation of management in california on the way they manage their water and what they are concerned about and what they are trying to push back on. they should be cleaning up the water that's going to raw sewage that's going into the ocean and the san francisco bay and they aren't concentrating on that at all. maria: of course. it's also a misunderstanding of the economy and how reliant this economy is on fossil fuels, what does alexandria ocasio-cortez says, she wants to be in fossil fuels within a few years. i mean, is that even, you know, doable? >> it's not. it's in the doable at all. you just announced the battery plant in tennessee that's great. we need to do that more here in the united states but we are not going to be able to replace half of the u.s. car market by 2030 with electric vehicles. the demand is not here for the consumer and we don't have the rare earth minerals needed to produce these raw -- these eb
batteries and on the oil and gas side, we will be dependent on oil and gas for decades to come. we can certainly promote and we should and i believe in all of the above, we need more solar, we need more wind but until we figure out a way of harnessing that power, long-term battery storage, it's not going to replace fossil fuels for electricity and that's why you see 50 percent in winter and people will be paying more for heating. if you make less than 25, 30,000, you're spending up to 20, 25% of take-home pay on energy costs, gasoline for your car or heating for your home and those are the people that this administration is -- is just not focusing on. they are not trying to help them. maria: yeah. andrew, thanks very much for laying it all out for us. we appreciate your time, andrew wheeler joining us as we watch oil prices well above $71 a barrel this morning. thank you, sir. we are headed into the holiday
season. can you believe christmas is two weeks away. consumers are still concerned, though, they that will not get their presents on time. one made in america toy company says its products will make it under the tree. jeff flock in norristown, pennsylvania with more. jeff, what are you playing with there there? jeff: look at that. this is puddy, this is all made in america. i am with crazy erin, this is the elon musk of the puddy world. erin has invented 100 different types of puddies. kids play with this stuff. >> this is the angry puddy. >> the more you play with it the harder it gets. this comes in handy in television, what am i looking at here? puddy is just crazy, right? people love it. >> people love it, witness you get your hands on it and realize it's not iky sticky.
you can see the colors shifting, constantly shifting and adjusting. >> this place, maria, is a beehive of activity. that's your production line or your packing line, that's where -- and you have got enough product, you think, to meet the christmas rush for those folks that are waiting on toys that are sitting off california? >> absolutely. because it's made here, we are able to be nibble and flexible and we have product to shift to store. >> i have to show you this maria, spin around, if you would. what is this i'm seeing? >> the super oil slick. this is super lava and this is its friend. jeff: it's warm too. i remember remember silly puddy as a kid. you have taken this silly puddy on steroids. >> that's exactly what it is. i thought silly puddy was awesome but i thought could it be better?
i went to my basement and starting experimenting and doing things with chemistry and 20 something years later we have all of this stuff. jeff: they don't call him crazy erin for nothing. if you need wild puddy, i can send some to you. i don't know which one you want. maria: i love it. jeff: maria. maria: i love it. that's a lot of fun. have fun jeff flock joining us in norriston and we will take a quick break, are you ready to rumble going public how the video plans to bring back free flow of information, the ceo of -- rumble ahead of going public, next. ♪ ♪ ♪ ♪ ♪ ♪
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maria: welcome back, free speech media rumble, the company going public merging with cff acquisition corp. would list under ticker cfbi. joining us the ceo of rumble, chris, chris, congratulations to you taking the company public. good for you. what are you going to do with the money raised? >> thank you for having me, maria. so we bootstrapped the business in 2013 and what we have seen in the last year has been
incredible growth story. we went from an early q1, 2020 one million monthly active users to q2021 to 36 monthly active users and one of the things that kind of gets lost that the majority of those users actually happened in the united states and when comparing against youtube, we have roughly about 15% of youtubes 200 million users on rumble on monthly active users basis. and when you put with tiktok, we are growing at a similar rate as the fastest-growing platform that the internet has ever seen and that's tiktok. so with the merge with cfbi, the main reason we did that is to maintain our independence and take the business internationally and raise the $400 million to really build a super robust infrastructure and cloud services business that can compete the lakes against
amazon, aws and microsoft for sure. maria: and how reliant will you need to be on some of these big tech companies, you know, you lack at a situation like what parlr faced where it had to answer to what apple wanted to be on the apple store and obviously other major social media companies as well as the infrastructure of big tech, what kind of reliance do you expect to have on big tech who may not want rumble around? >> yeah, no, absolutely. and like i think i mentioned before on this show, like when we started this business, we did it the real-old fashion way. we never relied on a single cloud infrastructure out there. we've always kind of built this the old-fashion way with our own hardware, putting it our own data centers and really building out our props across the united
states. and one of the unique things -- go ahead. no, one to have unique things on what we are doing here is we are building a cloud services business and we are building a video platform that will be completely immune to cancel culture and the activists out there. we are really taking the internet to -- to its roots by restoring it to its roots and really defending that free and open internet by building this robust infrastructure and this robust video platform to deliver cloud services and deliver voices across the world. maria: that's just terrific. chris, that's what you want to see. you want to see scale organically but get the competition strong to face off against some of these other companies that are canceling conservatives. rumble will not be a competitor to president trump's truth social platform and you have a
deal for distribution, chris. devin nunes would have been chair of house and ways committee and become ceo of president trump's new company which he's going public with through the digital world acquisition. your thoughts on the competition with -- or noncompetition with what's happening with the trump truth social business? >> yeah, no. congratulations to devin nunes and i don't know if you remember, but it was devin that came to rumble first when this enormous growth took off. he was one of the very first people to join rumble and what we noticed that rumble was that in 5 years he only had 10,000 subscribers on rumble and within 3 months being on rumble the congressman had over 300,000 subscribers really demonstrating the growth that could happen on rumble. but when it comes to truth and
trump media and technology group, i can confirm that we do have a partnership with them without getting into the details but we are definitely not going to be competing against them. it will be a cohesive relationship and we will be both working together. maria: congratulations, we will be watching the developments and certainly the growth story. i'll be there as well on rumble. chris pavlovski, thank you, sir. >> thank you for having me. maria: we will be right back. ♪ ♪ ♪
pathways maria: welcome back. good tuesday morning. thanks for joining us. i'm maria bartiromo. it is tuesday, december 7 top stories right now on the east coast, a critical call president biden to homed a video call this morning with russian president vladimir putin that is 10:30 a.m. eastern happens amidst a rise in tensions with russia position adbuildup of russian troops along the border with ukraine, the u.s. other world are leaders leaning sanctions should anything escalate between ukraine and russia we get into geopolitical ramifications all morning, a rage really underway on wall street futures extending gains from yesterday with another 355-point move on dow industrials that is better than 1% the s&p 500 higher by 60 points, one and third percent nasdaq up almost 300,
one and a half a percent higher 289 points hire on nasdaq, this on top of the big move yesterday, as the worries over omicron variant are waning and fading we've got news from glaxosmithkline on their drug to treat it, as effective and that is also helping ram up investors yesterday dow up 647 points almost % nasdaq up 139 almost 1% s&p 500 higher by 53 better than 1% european markets is also striking a strong tone this morning, ft 100 right now up 84, cac quarante up 157, dax index higher by 323. overnight in asia green across the board hong kong best performer the hang seng up, 2 3/4% on the session, "mornings with maria" is live right now. . maria: morning movers american airlines up 3 1/4%
higher on shake-up doug parker will retire after nine years in roll on as chairman of the border replaced by current president of the company robert eisen as i see stock higher on news intel higher check this out 8% higher on intel right now big move here, for the chipmaker announcing plans to take itself driving car unit mobileye public, bringing israeli unit to 50 billion dollars in valuation intel up 8 and 2 slashgz 3 percent elon musk taking aim at biden bill in favor of scrapping entire package even parts that help his business, watch. >> what about the support for the charging there are parts of this sale -- >> no? >> no. you know -- support an
outpatient. >> joining me globe etf strategy jaib orange counties dagen mcdowell brandon arnold thanks very much for joining the conversation, you-like tesla tell me what you make of elon musk's comments? >> i think a little bit surprising we, commerce trying to understand what is holding them back from the electric vehicles right now two out of top three, the range anxiety about big enough batteries, address that with infrastructure i would think would help business from here. maria: even if it helps tesla's business elon musk says scrap the whole plan, how about the fact that it is part of this spending plan, of joe biden, that you get a rebate if you apply electric vehicle made by union. so it is a production line
made by union you get a bigger rebate than the nonunion workers working on a tesla. >> i think that has to be more -- tesla built up a huge lead in the electric inventorying production space with integrating batteries, car models everyone else trying to play catch-up doing it their own way i think elon trying to probing probably 3 to 5 advantage the capabilities they have so that. maria: hypocrisy if they cared about electric vehicles everybody would get a rebate not it is a giveaway to the union this is more about giving something else to the union than it is about, this love and desire to change into electric vehicles. >> it is a bit of a -- i think overall has a happen electric vehicles being have to get
cheaper, easier to charge, and they have to get -- what happened in free market tesla without any tax credits, last several years, so it he is it will be very interesting to see what happens, with electric vehicles going forward. maria: jay tell me what you are seeing in your are etfs what market perform another major rally intel a highlight of the market dow component nasdaq component, taking is self-driving car unity public we have been spotlighting semiconductor sector all week i spoke with greg abbott on "sunday morning futures" to talk about importance of chips after samsung announced it is building a plant in that state. >> we neither not depend on china or other countries for essential needs like semiconductors exactly why are texas is leading the way, becoming home for semiconductors that go into
everything that people use not just your iphone or your laptop whatever at the case may be all in all vehicles we have manufacturing going on. maria: so jay do you have a semiconductor etf? where is flow right now of money moving in your etetf. >> connecting things to internet chips in it on your wrist appliance at home connecting with internet we're seeing a lot of things we see how internet is, connectivity, i think going back to point bringing back semiconductor production to the united states, we are seeing this all of technology, when a.i., semiconductors whether even battery production electric vehicles, there is a technology war going on, u.s.
increasingly believes that we should be owning the technology developing the technology. maria: yeah what are you seeing in terms of the omicron worries you must be seeing lots of activity, given the rally in stocks, i know that you like williams-sonoma as retail stocks, but i want to get your sense of where you see, investors gravitating toward right now during the two day major rally. >> absolutely we are seeing -- human battery, etf's, e-commerce, etf's, ready for holidays, support purchases so omicron variant potentially being less harmful as well as some of the eggs of easing of policy, bringing very -- good conditions in market i think should see. maria: i think this is a
great point that you make, this was one of the new headlines overnight in terms of real estate, pretty much what you've got is china will face signal that it would ease curbs on real estate perhaps part of rally with dow up 339, jay thanks very much to nor jag in joining us this morning, on this powerful move in stocked we will see you soon quick break dr. stephanie hahn is here to talk are about rarity of covid booster breakthrough cases then a new discovery for alzheimer's disease patients we talk about mental disease border encounters almost 00% spike just since november the border is out of control we talk about it, it with former acting secretary chad wolf georgia governor race david purchase dee getting a big
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. maria: welcome back. former georgia senator david pore due throwing hat in the resigning for governor of georgia i am a at democrat candidate stacey abrams, watch. >> she wants to transform our state into another failed state, like california you heard news about san francisco that is what she wants to bring to georgia, and i am going to stand in the breach and make sure she never does that. maria: perdue announcement an epic gop primary battle with governor brian kemp produces quote failed all of us president trump has thrown support behind david perdue, brandon arnold with us this morning your thoughts, on david perdue's run for governor? >> well primary is a health part of democracy i think great an active primary in
georgia for the governor set a the concern, of course, though is that infighting we are seeing not just georgia but other states can turn tide and hand over even states to democratic control mind-blowing to see two democrats make it into senate from georgia republicans couldn't get act together agree to unite behind candidates if the case here in gubernatorial race a real problem for state of georgia abrams very much progressive way out of mainstream candidate. >> we don't really know details of, georgia during the election. >> with stacey abrams i want to bring up the fact she showed up in virginia, campaigning with terry mcauliffe for the governor, the governor' race and he loss, and he actually had the audacity to stand up there say this woman would be the
governor of georgia if not for voter fraud. so just kind of boggles the mind i know they bring up that the voter rolls were purged. mostly for good reason like people were dead, and should not-be voting. maria: that is right. >> again this race is going to bring up a whole host of issues, about the legitimacy of the vote hope state gets act togethering this go around. >> you are absolutely right we will break a big story coming up, how we finally identified the way to reduce the risk of alzheimer's disease a study showing one popular drug with an lower risk more than 60% the xu commissioner with us, new york city staple facing crunch of supply chain crisis no, not that we will tell you
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fading glaxosmithkline announcing that its antibody treatment is effective against this covid variant doctors reportedly seeing fewer cases infections among people who recessed sul round of vaccines booster not as well former commissioner food and drug administration ceo partner of flagship pioneerering, dr. steven hahn is with us dr. hahn great to see you. thanks very much for being here. >> good morning, maria. great to be here with you. >> so first let me get your thoughts on where we are, with this omicron variant, where suddenly the -- the sentiment changed completely relative to last friday when there were enormous worries about this new variant, and containing it. >> i think there is a lesson here that is that knowledge is power, the more information we have, about variants and about covid and pandemic the more we
are able to give information to the public about how best to protect themselves, the news we've seen so far preliminary more to come, is encouraging about omicron in terms of mildness of the disease we have sense that it is more transmissible than other variants, more to come i am encouraged by what i am seeing, when we need to determine when vaccination regimen boors protect against omicron so far i am encouraged by it maria. maria: i want to get your take on broad issues you can say because you have now taken on this new rule new role rather of chief medical officer of a new health security initiative launched by flagship pioneering you are looking at cancer at overall health but i want to get your take what references say they discovered 'cause of alzheimer's disease a separate study finds viagra may help reduce risk of developing alzheimer's disease we have
talked in the past about mapping of the genome, how we know so much about the body, but we haven't really studied the mind enough so i want to get your take where we are on mental health disease and new studied on alzheimer's. . >> maria this is potentially really exciting, you are right it is relatively poorly understood how we develop, alzheimer's one of them two studies you are referring to, one is a study performed in human brain tissue donating to references found incredibly fascinating information about something called cal protein many have implicated in the because of alzheimer's disease found have a right-handed versus left-handed protein, just for mirror image of it with that somehow leads to development of plaques and other types of changes in the brain that lead to alzheimer's
dementia, important why would that recur think of garbage disposal process we are talking about maybe district attorney the hope is we target that garbage disposal get rid of protein increase turn over decrease the changes a separate study viagra incredibly fascinating information, taken from a large series of data, and that what shows people who have tan viagra for it will be indications that dysfunction one of them 69% relative risk instruction in alzheimer's disease, we don't know this is causative but there are biological reasons viagra might work, it certainly ice very important hypothesis to
study in clinical trials i think there is hope there. maria: so do we know if that is -- as well, to apply it toward the alzheimer's issue i wouldn't recommend taking it now. but yes, there are certainly information data that suggests this is not just something that would be appropriate for men but for women, folks have tried, viagra hyper tension that affects women as well as men, so i do not any think restricted to just men opposed to woman but i do think significant observation that would be used to really help people. maria: i just such important story i know you worked on mental disease as well put you've got big news this morning dr. hahn flagship pioneering, launching a new company that will detect early cancer with simply blood test
where are we in the fight against cancer tell us about harbinger health. >> so harbinger health very honored to be new ceo of harbinger health, started by flagship 2019 bioplatform company yudz you into you origins we use that to diagnosis cancers early we've seen covid circumstances, that diagnosing cancer early has been a problem for oncology in the past we're getting better we need help making ensure that we identify this as early as possible, so that we can intervene with hope, of course, that earlier we intervene more about we can reduce side effects of treatment and efficacy of treatment excited to lead the team this is connected to our
larger preemptive medicine initiative how do we enter early before people are sick one last point, we've seen that most vulnerable among us are probably have been most affected in terms of missing screening for cancer other diseases our passion around this make sure this approach is available for everyone. maria: i love it i love it, dr. hahn tell us where you've seen most progress in terms of cans right now you studied cancer a long time i know there are some areas that are much more problematic that we've not seen as much progress where are you seeing most progress? >> so a couple areas one is in by bologics therapy you mentioned before increasing knowledge we have around genome, the complicated processes that go on in cancer cells distinguish them from normal cells, so biological
lawing us to specifically target those cells i am very excited about possibility of really individualizing therapies. >> the imagine revolution how we effect the alzheimer's disease is a perfect capital very sophisticated approaches artificial intelligence, machine learning to gain insights bring data together that we haven't been able to use before, some people have said that the answer to many cancers is out there just really complicated difficult to bring all data together to conclusions we are on the verge of using insights from artificial intelligence machine learning to o overcome that obstacle, i am into itted. maria: me, too such saven important topic i know not only going to save lives
create a healthier population but going to be an incredible investible couldn't on cusp gern marriage of health care. >> harbinger health we are using powerful analytic tools a.i., artificial intelligence machine learning to gain insights into biological origins of cancer receipted over and over gain, what i am really excited about is that i think we can use these approaches, to make everybody he healthier so not having a health care system focused just on sickness but really on wellness, and i am excited to be leading harbinger health in this direction. >> congratulations on roll we will follow it please come back soon thank you, sir. dr. steven hahn joining us this morning we will see you
soon thank you quick break border crossings surging, wide-open border has massive consequences, even the remain in mexico getting reinstating we think former acting secretary chad wolf will weigh in ceo of fresh del monte how this is company is working against high prices labor shortages all coming up right here "mornings with maria" next. . ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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back. good tuesday morning. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 7, a look at markets this half an hour ahead of opening bell where we've a rip-roaring rally underway, dow industrials up 35 points right now that is 1 -- 353 points, the nasdaq mayor just shy of highs of the morning up 296 points, almost 2%, extension of yesterday's huge move where dow up better than 600 points
european markets stronger take a look at europe, where eurozone has indices higher ft 100 up 85, cac quarante up 160 dax higher by 321, better than 2% in germany check out asian markets also a rally, across the board. hong kong here was best performer up almost 3% in session, in hong kong. new fallout for the former cnn anchor chris cuomo cheryl casone aye having just been fired from cnn anchor position calling it quits on siriusxm radio shoe directly from him, he left cnn after brief suspension following he revelations helping former] on sexual assault allegations more than previously disclosed "new york post" writing cuomo plans to sue network for 18 million dollars the remainder
of his contract, losing, los angeles, to the crime crisis one l.a. police detective warning potential visitors not to come, mcbride doesn't think department can keep people safe zero bail policy driving surge in crime accusing governor newsom of advocating for criminals, 2020 survey by national retail federation ranked los angeles as worst city in the u.s. for retail crimes. well -- l.a., right bad right, talking about there is maria for you samsung replacing heads of three maim business units merging mobile consumer business into single unit two new ceos two of division, semiconductor business and new that includes mobile touchdowns consumer
electronics, quarterly revenue continued strong demand increasing prices, there you go, samsung announcing planning to build 17-billion-dollar semiconductor factory in central texas, talk to governor about that there is this, today, marks 80 years attack on pearl harbor 1941 japan launched surprise early morning attack on u.s. naval base in hawaii more than 2400 service members civilians killed nearly 20 nafl vessels battleships destroyed over 300 airplanes the devastating attack leading to united states entrance into world war ii, i have is to say my grandfather served in asia-pacific fleet in world war ii i always think of him so grateful for, his service and so many of our heroes, . >> you are right thanks for saying that my grandfather also and my uncle served in world war ii, we have to give
a big thank you to all of our veterans our soldiers who defended our freedom and liberty, enabling us to live this way right now. great point thank you, cheryl. maria: meanwhile, the wide-open border a major issue, for the country, border patrol agents rio grande sell a sector when overwhelmed fox news reporting sector alone has seen over 100,000 mooigdz since october 12 as it that is 163% increase from last year agents also seeing more than 9,000 gotaways just in last two months, in this sector, overall i spoke with brandon judd the head of the border patrol union said there are a hundred thousand gotaways overall in texas, as a result of these wide open borders this is just the last two months joining me right now former acting dhs secretary heritage foundation visiting
fellow chad wolf great to see you. thanks very much for being here your assessment, of what is going on, now that a federal judge has forced the biden administration, to reinstitute remain in mexico is there any chance that they will not do so? and try to get around this federal ruling because the last time i spoke with my sources on the ground they said i will believe it when i see it i am not expecting this administration to reinstate remain in mexico. >> i think they have started the remain in mexico program the question is, how enthusiastic they are and actual implementing and how aggressively going to implement it, you can implement the program if you are not really going to follow through on it, it is will no going to be sufficiently the end of the day see what changes they made to the program i think really struf,
instructive at the end of the day we see astronomically high illegal apprehension numbers not only regrand but across the board this administration 10 months refused to enforce the law, border security enforcement cartelss smugglers traffickers know this continue to smuggle large amounts of individuals illegal narcotics contraband across that border numbers you cited not surprising we to me in december, january, febz numbers will likely rise even more because of the weather down there i suspect numbers continue to rise. >> have just unbelievable chad two million people close to two million people apprehended, in the last year. this year. and now 600,000 gotaways, in that time frame, we don't know where they went seen on surveillance examiners in our country 600,000 texas is using
he apparently a boat blockade to keep undocumented migrants from crossing into the country that part of rio grande heavily used to bring migrant unaccompanied children across the border look now narrow river is department public safety called and in operations necessary mere we were at the border brought show to border three times to el paso mcallen, and to -- and to the rio grande, del rio area, and you know i can't believe how narrow the river is so ease to cross into america. >> well you are correct on all fronts i would say this administration is really well combed open borders policy and they want the american people to believe that it is only about children and families coming to u.s. faring for lives not the case not facts on the ground that there are large amounts of criminals national security concerns other o dangerous people that are coming across that have
border every single day vetted by cartels smugglers, the state of texas others along that border are so concerned that they are now devoted millions of vours to secure border the federal government won't do the job at the end of the day, that is where we are at should not be that way federal government states should be working together to secure that border, to protect communities along the border, and we know that this administration, simply doesn't -- wants to wash hands don't want to talk about it, vice president,president don't visit border don't talk about this issue any longer, but i still think this is a critically important to american people about national sovereignty the security of our borders at the end of the day. maria: of course,, why wouldn't kamala harris look at this job that she was given as border czar, actually try to make a difference for the american people? look, it is not just tornados, seeing the surge in illegal migrants, when i went to del
rio i broke news that yuma, arizona was blowing up facing escalation in the crisis a border patrol agent is how confirming thousands have crossed into yuma illegally since just last week you've got zayne governor did you agree doocy saying it is to you a to migrants trying to beat enforcement of reinstated remain in mexico policy chad. again, we met with farmers, and we went on their farms they told us this their property is breached by gotaways, ripping the fence destroying private property why -- i spoke -- crime in the middle of my interview, these are american citizens being impacted by all of this, why isn't biden administration paying attention? >> well a great question again i think it is that embrace of open borders and far left wing activities of their party,
pushing for a lot of what we see has taken population over the last 10 months look they wanted it during obama administration, they didn't get it they wrote to me as acting secretary wanting certain changes in immigration law that we did not give them they've gotten all that under biden administration unfortunately, the result is historic border crisis never seen before numbers you have never seen impact not at federal level not in d.c. it is along that border, and so you know the communities that are impacted are the ranchers, the property owners others along that border that are seeing that firsthand, and they do not have leadership from this administration, that they, we are with you going to solve this problem? i think turning their back on american people they want to border crisis to go away won't go away cartels emboldened it is not sufficiently they
signaled they don't believe in the court as soon as released in court going to end remain in mexico you can't implement on one hand saying you are going to kill it on other it doesn't work that way a messaging problem again shows that they are not serious about immigration enforcement that is what it comes down to, at the end of the day, this is about the deterrents making sure that we tell individuals if you break the law you are going to be held accountable. maria: well, just so many angles to story implicate kids american citizens lurid in by tiktok get away card gotaways getting in trouble as well causing chaos we will keep a spotlight on it as we have we have been to border three times going back chad, thank you so much for all your ploirp on this sun will, thank you quick break state of supply chain in america, another crisis the ceo one of the world's largest food companies will join me coming up to give the state of
affairs then 2021 most mispronounced words make big buzz this morning we tell you what everybody's twisted up on, you are watching "mornings with maria" live on fox business. ♪♪ ♪ ustomimy car insurance, so i only pay for what i need. how about a throwback? ♪ liberty, liberty, liberty, liberty ♪ only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪
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maria: welcome back not cream cheese new yorkers bagels may be without it shops say they are low on cream cheese due to supply chain ceo fresh del monte thanks for being here one example how americans have been impacted by crisis how faz your company faired in the face of supply chain crisis? >> thank you very much maria for having me today. and i would like to say that in comparison to rest of the industry, our front appliance,
goods is more or less by most of our products come from across america, and local packaging as well in most american we didn't have too much trouble except packaging, labor, transportation, i would say, and in germany. maria: this is really an important point that you make. where you are producing is critical the production out of china is getting a massive holdup, how is business going for fresh del monte? >> actually, as we speak, i have a call with you with your -- channel last month i mentioned that we have problems with pricing of the market i just want to say that retailers the worked with us,
the food service positively, we have now i think the business back on track. maria: and tell me what you are expecting in 2022 what kind of growth are you expecting when you look over the next year, in terms of sales? >> well, i don't believe that we are going to have too much growth, because market is much yet recovered, i believe you know that consumption not we saw to the pandemic period i don't believe this will start to materialize before next summer. maria: what kind of impact have you seen, i know mohamed you are not having trouble that some competitors are because your food is coming from south and central america great news but have you seen an indirect impact from the
supply chain crisis? where do you believe the logjams are. >> i believe the logjams are in the shipping, as well as -- transportation, north america this is where we are facing issues, but trucking not as available as used to be. truck drivers don't want to go long distances they want to say more close to home. rates -- declared for -- transporting from west to east any other plays inside north america as well, as shipping frommaire becoming prohibitive. >> i bleefb health care needs more close he to market in
temperatures of sourcing materials especially in packages, other materials i think applies to all other corporate in my opinion, expectation has to happen to be close more close to home, or inside market itself north america most ideal, the more we reduce our dependence on outside long distance supply chain is problematic. >> for sure no doubt about it mohammed a word on nation what are you expecting in terms of prices next couple years do these prices say elevates. >> i don't believe we're going to raise prices short term i don't believe that there will be a need to do that we have raised prices last two days, i
believe that hopefully, though, considering all the valuables that we won't need to do that in the near future i whoep this will not be a -- >> to have you come back soon mohamed joining us this morning ceo of del monte fresh we will take a break when we come back most mispronounced words of 2021 making a big buzz this morning we've got the list stay with us. . ♪♪ ♪ . hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. your record label is taking off. but so is your sound engineer. you need to hire.
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maria: time for the big buzz of the morning, a tongue twister of the year, the us happening company with a year of this year's most mispronounced words. agenda the term to mock something outdated or unfashionable, then there is dalgona which was made popular by "squid game". dogecoin popularized by elon musk and this, eilisch.
then there is, cry. have you tripped on any of these words? dagen: i never heard anyone because i'm elderly use the word chugi but i guess i'm going to avoid that one. maria: i think omicron is easy to trip over. what do you think? >> i've been saying it wrong. i'm an old fuddy-duddy. i thought people were horribly mispronouncing billy idol. i'm very out of touch. maria: the 2021 most mispronounced words, your thoughts on whether the federal reserve will slow this down,
the fed pooling in the taper in next week's meeting. dagen: as they should, with inflation such a problem for hard-working americans this is a relief that omicron is not as bad as some people first anticipated. maria: dow industrials up 320 points. great to see you both. thanks for joining us and see you again tomorrow one "mornings with maria". "varney and company" begins right now. stuart: omicron not so bad was little evidence of severe symptoms. it is pretty rapidly but it is not delta and to investors that makes all the difference. it means reopening the economy may be easier and faster. the dow after rallying 600 points is up 300 as of right now free-market. that is 1000 point run up, same