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tv   Mornings With Maria Bartiromo  FOX Business  December 27, 2022 8:00am-9:00am EST

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states they are sooner rather than later people had enough i think more will make up make changes. cheryl: a hope i saw year ago eric adams there could mayor of new york city even though democrat, democrats rule the roost the way it is at the same time he ran on kind of a conservative agenda, he said a week ago i don't want business to leave new york city the governor on the other side leave new york if you don't want to be here. >> we are seeing movements in san francisco, you know, you recall the three school board members removed this past year, who were basically promoting cancel cult of you so-called woke initiatives instead of jaeding children i
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think there is a voice of people who willing to use it can overcome anything. >> more dogs in san francisco than kids day true state of. >> i believe it less kids more dogs because of what happened, fox business prime show "american dream home" every wednesday 9:00 pm eastern time, nicholas johnson say right here next hour of "mornings with maria" starts right now. . ♪ cheryl: good morning, everyone. i am cheryl casone in for maria bartiromo, this morning, it is tuesday, december 27 top stories, at 8:00 a.m. eastern time. final trading week 2022 futures are pointing to gains at the open we've come back off highs dow up 167 s&p higher by 15 and change, tech up by 11 on wall street the
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dow major average to eke out a win vests rattled over rising interest rates recession fares he -- >> look at month of december markets on pace to snap two month winning streak technology stocks seeing the roughest of the rough, nasdaq losing more than 8% for december, all ahead of housing, on holiday-shortened trading week 9:00 a.m. eastern time today case-shiller price index november pending home sales comes out tomorrow. as for european markets, they look like this, right now slightly higher, as you can see, o germany index best asia overnight green across the board hong kong, hang seng closing for holiday china meanwhile, sending mixed messages about covid beijing plans to scrap quarantine teen rules. >> -- covid o explosive refgs
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revelation federal government direct involvement of short-term, "mornings with maria" is live right now. >> well, border communities in arizona texas on edge as title 42 is set to expire as soon as today, el paso border patrol building a massive tent, bigger than football field preparing for as many as 5,000 migrants a day anticipated to enter once trump-era order is lifted u.s. customs and border protection reporting encounters in november, over 16,000, joining the conversation all morning long with me on set, and jonathan madison, nicholas first to you. the border is going to be not just thorn but real problem
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for americans with fentanyl illegals crossing. >> something nobody talking about is more people that come over that means more services the government has to render to people, and more people applying for government programs less money there is in the pot for american citizens. so we see, you know if it cost 23,000 dollars a educate a student that is going to drop down what more students going into the system, become a problem they build in a tent that houses 2000 beds, we are going to have 5,000, coming across a day, a day. what is this going to do? the administration, is completely unprepared for this can't handle the border as concurrentlied why mushing to get title 42 listed beyond knee title 42 is knowing more than a band-aid. >> an example how administration ignored the problem altogether i think what is going to happen you are going to see problem intensive month after month, this last month was 233,000,
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came over illegally and i think, you know some point the biden administration is going to have to own up, to what is happening here, as opposed to just acting like it doesn't exist don't take a leak on my pants and call it rain. >> [laughter] >> american people, need to -- need to have -- i think need to be told in have a leader that takes ownership over this issue instead of acting like it doesn't exist. >> your legal hat for a minute waiting on supreme court decision. >> you know, that is actually one that regardless of my legal hat, i can't get into the head of supreme court. cheryl: come on. >> that being said i think, if i were a betting person i would say, they didn't get rid of title 42 at this point. i don't see that happening.
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i think it is enough that biden administration is pushing for it to be done. >> look there is a good piece in the "the wall street journal" editorial board says it is joe biden's border now that is what editorial board writes say the fight for tight tight encapsulates all dysfunction of immigration policy. >> can we go to george bush had plans for true immigration reform policies that would work bringing in workers keeping people safe border safe instead of free-for-all that is at the border with fentanyl cartels ruling the roost down there a billion-dollar business, running down there whether it is -- trafficking or whether fentanyl or just coyotes, that are making thousands per migrant to bring each would be over. >> still using 12 mill illegal grant from the administration, when number is 25 mill the
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only ones empowered by this are cartels trafficking in human beings shipping fentanyl here some won needs to ask biden administration what is the intent of leaving the border openlawing all people to come through? how does it benefit the united states how does its strengthen us nobody is asking that question i think that is a failure there is no pressure on a this administration to really do anything. the handful of democrats that are speaking up that is not enough. we need more democrats speaking up pushing back. >> i am staying with texas for a second, because we talk about briefly, you got governor greg abbott, dropped off three buses of migrants outside kamala harris d.c. home christmas eve a lot of people angry about this, and called abbott worthless questioned being heartless won't make him next republican president what do you say to that. >> i they governor was trying to make a larger points methods people can say what
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they want about methods but i think trying to make a point these migrants are coming on my doorstep every day you aren't seeing it all you up here the white house are doing is just saying well the problem doesn't exist. you still welcome -- you still welcome it my mother raised me basically said invite guests over have a meal prepared i am surprised the vice president wasn't giving sandwiches. >> giving cell phones. >> build tents wealthiest zip codes across the united states see how quickly. cheryl: if i get in trouble for this, cover sheet "new york post," welcome mat. >> we're treated as -- o. >> i will come back to you eric adams basically a tent city on the island, all buses came in spent i forget how much money.
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>> and nobody showed up they are gone, ran just -- a lot to talk about in this story a lot more coming this up morning the final trading week of 2022, futures looking for gains at the open probably low volume day because of holiday week we are talking next year, talk about 2023, plus, explosive twitter files showing how the biden administration, censored americans who went against pandemic narrative we are all over that story coming up you are watching "mornings with maria" live on fox business. . ♪ here i go again ♪ ♪ to help relieve snori ng. so, you can both stay comfortable all night. ng. the queen sleep number 360 c2 smart bed is only $899. save $200. ends monday
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. cheryl: futures pointing to gains off highs as we head into final trading week of the year. the dow, nasdaq, s&p s&p on
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pace to close out he worst years since 2008,nasdaq, down about 32% year-to-date joining me strategic partners luke lloyd, you stay risk stagflation recession for 2023 we're really not ready for that explain what your point is here. >> yeah, the american economy really got lays after 2009 in terms of productivity, so america got lazy because gold kas cheap companies didn't worry productivity and efficiency hired a ton of people to support growth leverage businesses that works ieb fine and dandy when interest rates are zero percent money is cheap but when crap hits the fan rates rise faster money isn't cheap anymore companies have to work on productivity and efficiency again, the first step is getting more efficient, is getting rid of employees that
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aren't productive, more layoffs means less spending in the economy, and that means less growth, that is what we've been seeing, discounting markets this year s&p 500 like said down 20% nasdaq down over 30, so sadly i think we have more to go sadly. cheryl: as you point out a jack welch theory of ceo look at 10% under upcoming make tough decisions, capitulation where is that going to be in -- how do we know when we hit bottom in 2023 a loft people on sidelines, sickest . >> woont seen biggest baddest apple down 18, 19% year-to-date i think you see true capitulation we haven't seen true fear in markets it has been marched on us slowly
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painful before entire year, you know we haven't seen a true capitulation, fear the game plan as stands right now to play a great defense first half of 2023 like san francisco 49ers don't try to hit home run first half of 2023 i think a lot of people striking out trying to play contrarian investing too early a lot of bad economic data points second half of 2023 could be where you want to start playing great offense like kansas city chiefs this year evaluations coming down estimates revised lower you are getting opportunities. especially -- >> understanding. >> number one -- >> right. >> throw that out there, exactly. >> the issue cheryl government spending destroyed middle class inflation the federal reserve, has destroyed the middle class threw rate hikes cost of capital more expensive we need to see middle class gain strength before we get back strong growth america middle class backbone of
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economy middle class feeling heat. >> what can politicians do? 1.7 trillion-dollar omnibus disaster, spending we've seen last two years floors me, it does. that is why this created inflation environment we have today, we are going to have a republican controlled house, come january,they col first, keep saying that maybe there could be fiscal responsibility i have low expectations, to be clear maybe just maybe might be fiscal responsibility in washington this year. >> i hope. i hope. i mean i hate to say feels like we don't live in a capitalistic world when government controls so much both sides spend too much at this point republicans need to do what they say they are going to do. >>. >> just a question for those that lost money in the market what should they do best advise to protect themselves. >> i would not take big risks, i think a lot of people are
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down, trying to get that back quickly, try to get stock down 80, 9 0% i have been seeing trying to make it back i would stay away from high growth names longest duration in technology i think tech will get hit hardest especially in growth mode don't have cash flow a lot of stocks down 50% already or more there is a reason why stocks are down, so don't try to hoilt more, i know a lot of people are down a lot of money it stinks really does, you know buying, two-year treasury paying 4%, doesn't sound you know too bad i know only 4%, if you hold for half a year pay 2%, but in the end i think there is pain to go, so if you have a lot of high duration stocks might make sense take capital off the table. >> defense, got it watch apple got it luke thank you very much i didn't bring up cowboys
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holding back on that. >> i am a steelers fan i haven't ben too happy this year. >> morning mover we've got tesla, falling in premarket down almost a 5%, announcing planning to reduce production in shanghai plants starts next month around production for 17 days in january between january 3 to 19th going to stock electric vehicle outlets from january 20 to end of the month extended break will cover chinese new year tesla did not respond to request for comment the so stock down today down 65 year-to-date. >> democrats punish through 1.7 trillion-dollar omnibus package, arkansas congressman hill is going to join us this is coming up next. .
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♪ ♪ . let the good times roll, let good times roll ♪ . . .
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cheryl: the house passing 1.7 trillion-dollar omnibus bill ahead of the christmas weekend nine house republicans in favor of the spending bill now it heads to the president's
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desk for final approval want to bring in arkansas congressman ranking member house financial services committee french hill congressman, thank you for joining us nine respects said "yes" a lot of spending in this to be clear pork bill spending we are calling it your reaction. >> -- congressman? >> sure i voted no, because the process is so the thoroughly he broken can you hear me. cheryl: we can hear you go ahead. >> okay. cheryl: sure i voted "no," look our process is so completely broken, and the democrats over the past two years, have just had a spending spree. with the american rescue plan inflation reduction act infrastructure bill appropriated money when you look at that plus forgiving stein loans sending 1.3 trillion dollars more annualized than in 2020.
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so, we've got to get this spending under control ro, my no vote was a process no vote because i supported defense many good things in bill we've got to go to pre-pandemic spending priorities. >> let me read what mitch mcconnell said about this he said this is the military spending what you are referencing he said the world's greatest military is getting increase it feeds for funding will out patriots inflation nonveteran spending below neighbors he thinks a victory mitch mcconnell does, do you agree? >> i don't i think senators should not have green lighted spending by senator schumer they sheriff reformed spending done more tailoring of it try to argue to pre-pandemic spending that is why i would have been fine continuing resolution into freb let o house republicans have a seat
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at the table trying to pare down spending get process reform on track. >> let me ask you about -- alexandria ocasio-cortez a lot of controversy about her right now, she pushed through, held, pet projects for here district in new york city, the bronx pushed for sending add but voted "no" against it because didn't want to see money going to the border crisis, okay? you've got customs and border protection. >> -- a new record 16,000 encounters over christmas weekend buses went to vice president's house christmas eve, did we spent money appropriately on the border crisis or may be not at all what it looks like just happened. >> no. i mean this is the fact omnibus spending plan could have been a place where we improved border security continued to fund buildings the wall technology hiring
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training border patrol customs agents we could have backed up efforts by tates to increase borrowed security but we did none of those engines january 20 biden got rid of retroactive policies working not enforced current immigration laws on books created biggesting immigration crisis in three decades time dog to arizona not time to the to the border in arizona 4 trips to delaware trips for ice cream we need toim to lessen to officers county judges sheriffs state police about crisis what federal government can do, now, simply changing policy without spending more money, to put us back in a better jogs. cheryl: . >> jonathan madison upset with me has a question for you. >> good morning congressman, we were speaking of congressman birch this morning he charged left with using
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omnibus package, as a piggy bank for the american people, what would you find most egregious part or ask in this bill. >> -- well john look the whole bill is chock-full with continuing democratic policies that were initiated during pandemic to try to help families from the pandemic. so we are still paying people's rent they no longer have to tell us, if they have an impact from the pandemic, we are paying mortgages you don't have to prove with you have been hurt in pandemic for that, we just continued on this spending spree, and as noted by your previous guest, the combination of this fiscal avenue lanch, policy during pandemic proud 40-year high in inflation in we want could curtail inflation we need to curtail spending to curtail efforts of the -- encourage federal reserve to do its job, or we're going to be
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confronted with i any a really stubborn sustained inflation. >> congressman we've seen spending increase under republican can going congress, democratic congress in 2023 how is house republican congress going to win back trust of american people when it comes to fiscal responsibility qualify restraint. >> first to appropriations bills on time one at a time have those debates in committee try to constrain forms of spending tied to the pandemic, there are billions of dollars, that we've spent over the last couple years due to the pandemic. draw that back tar each agency go back to where they are in fy 19, fy20 try to determine if they can continue to function at that level, then concentrate on things where we need to spepd money like national defense rebuilding stocks, supplies border security, for example,
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perhaps more generous there as mitch mcconnell commented on in his statement that is kind of priorities we need to set, we need to do that by starting by passing those appropriations one at a time, and look at the opportunity for budget reforms that nancy pelosi refused to implement, i think that would be great, steve womack of arkansas great suggestions how to reform the process make it more transparent accountable to the american people. >> congressman french hill always great to have you on the program thank you so much for joining us. >> thanks cheryl happy new year. >> you, too, we are looking for one an absolute flight mare southwest cancels thousands of flights over bad weather a live report for you coming up next, plus going to tell you about how four some improvised when flight was canceled a holiday move in the
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making that is making a big buzz this morning we are going to have it for you. ♪ ♪ . welcome back cheryl
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casone in for maria bartiromo, tuesday, december 27 a look at markets this half hour final trading week of 2022, futures pointing to gains the open dow up 16 the s&p up 14, nasdaq up nine, this week, following mixed week last week, for wall street dow only major average to eke out a win as investors were will rattled over rising interest rates recession fears going quite sometime. take a look at december markets on pace to snap two-month winning streak technology stocks seeing he a rough month nasdaq down more than 8% for the month.
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markets in 2022 seeing red, all three having worst year since 2008. >> well, somebody else having a bad year at least a dad about a southwest air also canceling nearly 3,000 flights, fixing business liddy hugh with what is going wrong lydia it is all wrong this morning. >> feel for frustrated travelers stranded more than 70% southwest flights canceled yesterday as major storm swept across the country airline says rebooking as soon as possible us about cancellations are continuing today take a look at this as of right now, more than 2500 flights from southwest are canceled that is 62% of the airline schedule flights to give you context there cheryl across the country only 2800 flights about that are canceled, going into within or leaving united states today,
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southwest makes up more than 80% of the flights that are canceled, for this morning, now many airlines impacted by winter storm southwest particularly so now u.s. department of transportation, is criticizing southwest saying rate of canceled flights is unaccessible going to look into whether cancellations were controllable to criticism the union that represents flight attendants says it has 15,000 employees and is blaming what they call quote years of neglect in securing implementing technology they say quote the result thousands of crew members stranded across the country forced to sleep on cots, in airports some without power and water, tum working with long hours well paest accessible days and more, the airline issuing an apology yesterday and statement calling the cancellations unacceptable
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said it is working to reach out to travelers impacted to workout travel plans we are hearing from passengers that some are being told they can't rebook until this weekend. so for many people this is not going to be, a travel season that is pleasant. >> it is amazing to me they can't get crew skrelgdz into 21st century, that is something ceo was speaking to "the wall street journal" about yesterday, he said they are trying to put this puzzle back together only able to operate about a third of the flights scheduled for days to come. >> this i used to work for southwest air also full o disclosure was flight attendant in 20s for this airline a southwest problem not airline industry problem it is a southwest air also problem. >> that is what what we are hearing. cheryl: a lot of good people work at southwest going to say that taiwan extending mandatory military service to last for one full year, after
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china sent more planes seven ships toward island nation in 24-hour span, as long as taiwan strong enough going to be home of democracy freedom all over the world it will not become a battle field, china foreign ministry attacking u.s. for providing funds to taiwan saying stop distort being holing out one china principle. >> kevin roberts your reaction i think a very aggressive move by china. we are told it is portfolioureing should not respond in tandem i think we're not responding fast or hard enough your thoughts. >> well it is certainly posturing but we need to take the most cheryl to your point, basically, you need to see this as chess match congress fittingly appropriated 10 have
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billion dollars we think we should allocate more of taiwan dial walk support of ukraine yiernz tell us they can handle in a china responded with their chess move having 71 sorties over taiwan strait we have to respond saying we are going to double support for the defense of taiwan to o they know united states of america stands for free people across the planet he including everyone who lives on the island of taiwan. china announcing, no longer need to quarantine teen upon arriving to mainland starts january 8. >> when it comes to covid policy, they've got massive covid outbreak beijing says not going to count dame cases anymore i find frightening because now concern, kevin is mass amounts of covid cases are going to spread worldwide could mean new strains what do
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you say. >> i don't be dismissive of your concern it is fwooed news response to two realities in china the first is economy has been devastated, by their lockdowns, the second thing is especially considering, that the chinese plans even intentionally even if if unhe intensely there with protests throughout several weeks in day totalitarian country have an effect we have to celebrate this i think we can trust individual people to make a good decision about whether travel or not based on their risk tolerance at heritage foundation we believe pastime for the world to be open go about lives as people deserve to be free self governing we celebrate it. >> button with of the things
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doesn't get focus whine hasupon one of the most impressive intelligence apparatus, i am wondering from you heritage, why isn't there enough focus on chinese intelligence what they are doing on college campuses particularly with the wuhan laboratory we see coordination between campuses, and in china. >> thank you for your question i am old college president we didn't have any business with ccp, at institution i led. the answer to your question is a very unfortunate one as you know the chinese communist party hires multimillion-dollar lobbyists americans, in washington, d.c., and they have caused our own members of congress to be very weak when it comes to china. therefor, at the heritage foundation says that january 3, when republicans take over the house officially, among top five issues they need to
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tear out root and branch every source of funding that allows you the chinese to have undue influence in this country, anything short of that is failure, and coward ice heritage foundation is going to remind them of that every day. >> tiktok. >> that seems to be a little bipartisan there is a lot of concern on both sides of the aisle about influence chinese control of tiktok accessing our data they say they are not to be clear that is a line i think most of us don't believe that. >> i love that question chel but tiktok it shows in a grassroots pressure chanters concerned about effect of tiktok on teenagers all concerned as i mentioned about date privacy can sometimes result in bipartisan reform in congress so we ought to celebrate that as a huge win heritage foundation we have never done business with tiktok, or social platforms anyone needs to make sure during 24 week get kids
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grandkids off that terrible platform american people ultimately are the ones responsible for standing up to china, congress will follow if willing to show that courage. cheryl: agreed before i let you go i got to ask about latest round twitter files how they rigged covid debate at behest of biden administration the journalist reports they censored information that was true but at the time inconvenient to u.s. government policy, they discredited that has now turned out to be fact. >> i am not surprised government does great job telling us not only what we need to believe but you the what we can, can't say on social media one of the reasons that at heritage we believe biden administration completely bungled covid the inventory is not a vaccine who
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say of us middle-aged younger men ought to be very concerned about effects leaving choice to be vaccinated up to individuals ultimately, the government to your point, to david's regs about twitter files not getting the faction about it we need to get back in this country to trust individual americans to make virtuous choices that is what a self governing people does this is not republican or a democrat issue, of course, but i am grateful that we have some elected officials mostly governors of states know that the best process the best approach when it comes to handling covid to trust individuals. >> look forward to seeing what heritage does in new year following your organization, kevin roberts thank you. >> thanks, take care. >> coming up, new york archdiocese cardinal dolan talks to maria about true meaning of christmas going to see that when we come back you are watching "mornings with
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maria" live on fox business. ♪ ♪ . i have ever seen -- ♪
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and follow the plan, it works. cheryl: people many celebrating the season with families and friends a new is u.s. poll the americans perception, american creates say u.s. has forgotten true meaning of christmas maria sat did you know with new york archbishop for this is reaction. >> your immenence thank you for being here. >> ♪ ave maria thanks for invite merry christmas to you and listeners, thank you for that why would people be moving away from god at such a moment in time? >> well we shouldn't we should not be too surprised actually that is meaning of christmas, from the beginning, from adam,
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and eve we have been moving away from god he has given infinite love mercy, grace he alternatively life gives all this we say thanks but no thanks and move on the story of our beloved neighbors celebrating hanukkah in old testament, that is our story as well we are always will tempted to move away from god, so in one hand it should not surprise us christmas, of course, is god's god's loving passionate attempt to reconnect being the problem is, connection the beautiful say saints looks at christmas godfather said look i tried everything one thing can win people over is a baby i am going to send my only begotten son lord and satisfy your as
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backache in bethlehem people will know how much i love them cherish them i want nothing more than for them to welcome me in lives as a tiny little baby not, i got to be honest with you it does for somebody in saked enterprise of faith religion the church, this does give a challenge how do we win people back more in a more tantalizing way present this timeless message of a lord's love, invitation. >> there is a message you have, for our viewers this weekend cardinal? you've season an considerable job of archbishop of new york, replenished led new beginning for st. patrick's cathedral thanks to help from donors, what can you tell us when catholic viewers. >> thanks for people like you able to do this thanks to so many people out there 2 message you've got a job where
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you have to often report bad news, all right? we all do we look around we see bad news we look around see a lot of darkness this even happens to be darkest time of the year when sun is lowest in orbit so a lot of darkness out there, sometimes we can be tempted to feel this darkness is winning this darkness is growing darkness is swallowing us. and christmas, of course, when we come in midnight mass going to hear those words of people that walked in darkness have seen a great light that baby that holy, will reveal helms as light of the world jesus christ on a jells bathe thtd in light do not be afraid we've got a so i've i know when tempted to think working in darkness remember christmas says two not be afraid, the people that walk in darkness
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have seen a great light, the light is out there, everybody, the lights going to be out there the light is in here, you got it never doubt that we discover it. >> a beautiful message thank you cardinal good to see you, and we will be watching you and listening to you, in 2023. >> ave maria, good to hear you blessed christmas. cheryl: thanks to cardinal dolan a story out of a christmas movie. >> sold 623 copies. chicago no sheboygan, they love it. >> did you say you can help. >> anyway we my flight was canceled. >> strangers became fast friends when night home canceled made a big drive making a big buzz this morning coming up next. .
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♪ ♪ . ♪ [acoustic soul music throughout] ♪ ♪ [acoustic soul music throughout] ♪ ...
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>> cheryl: time for "the big buzz" of the morning hitting the road to make it home for christmas. four strangers banned together to drive home after their christmas eve flight was canceled. they rented a car in tampa,
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florida to make a basically 20 hour treck to clear and, ohio, fought a huge snowstorm along the way and shared the whole thing on tiktok and gained millions of views for this. okay, nick. look, i'm thinking it's a christmas movie waiting to happen. somebody call the hallmark channel. >> well, i mean, i love this story because there's so many ways it could have went wrong but it actually went right this is something i would never get in the car with strangers i didn't know and take a 20-hour journey, but it's nice to see that there is still humanity in this world. when we look at christmas and right before new years, it's good to see that people can actually come together for good purposes, rather than the negative. >> cheryl: i love they documented the whole thing on tiktok. i'm not a big fan of tiktok but i think it's hysterical. this is a great story and it went totally viral. >> absolutely i've got to tell you in the midst of it going viral i heard about it started laughing and making a joke and whatnot, but now i've got to tell you the way the weather
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patterns are right now i might be the one at this rate needing to ride with someone else. >> cheryl: i'm not flying southwest to get home. call jonathan for a ride home. >> [laughter] >> but you never know. >> cheryl: you and i are both saying it was a really tough weekend for travel. my heart goes ought to all of the people at the airports after christmas. its not been fun and you drove but you made it you were safe so that's good. >> yeah, i live close by, thank you. >> cheryl: wow. all right, well like i said, i'm going to end the show in like 15 seconds and call the hallmark channel ceo and be like look, i've got a movie idea for you and this is it. all right nicholas, jonathan, guys great to have you here. that is it for me i will be back with all of you tomorrow for "mornings with maria" and "varney" & company right now. ashley: good morning, cheryl. good morning, everyone. thank goodness i didn't travel
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