tv Mornings With Maria Bartiromo FOX Business January 30, 2023 7:00am-8:00am EST
with regard to nuclear activities. your thoughts on stopping the ccp from getting ahead of america on these very important initiatives and even when you be put a ban in place, the ccp doesn't follow it. >> i mean, this is a running theme for the biden administration. they actually just don't want to enforce laws that they don't want to enforce. here you have a clear breach of american law and the department of justice isn't doing it, the federal trade commission isn't doing it. at the same time they're attacking america's leading innovators, like google and facebook with frivolous lawsuits. the department of justice needs to get back to enforcing the laws, not attacking american businesses. maria: we'll see about that carl, it's great to have you this morning. we so appreciate it on this important week when we have amazon, alphabet reporting this week. with the next hour of "mornings with maria" begins right now. and good monday morning, everybody. thanks very much for joining us
many got aways there are. we're talking about now one and-a-half million on joe biden's watch. people who have specificalliy a vaded apprehension -- evaded apprehension. >> for the people keeping track at home, if that was a city, it would be the second largest city in the state of new york, it would be much larger than miami-dade proper. i think at the end of the day, or if you add in all the people living in my miami specifically. i think at the end of the day when you look at what's hatching here, i'm reminded of what happened with the obama website launch where we had $800 million spent for the world class website that was going to end all the healthcare problems and here we are with the biden administration, refusing to ensure that we have a secure border, allowing the fentanyl to stream across the border into this country, and now we have migrants coming in from the north and the south. it is by all accounts an invasion and no one wants to use the word. no one wants to do anything about it. and the american people are stuck in the lurch.
maria: i mean, this is just insanity, chris. you've got all a of these people coming in illegally, jumping across the line in front of those people who have actually tried to do it legally. we've got fentanyl crossing the border. i'm reminded of joe manchin who i spoke with two weeks ago in davos who saidal said alejandro mayorkas knows the borders is not secure. he'ses directed by the biden administration to say it's secure, lie to the american people. now florida congressman carlos congressman carlosjiminez is ao consider. mayorkas vetoed an invitation from the house overnight committee. jiminez writes this, the american people are horrified that he denied four chief patrol agents the right to testify at a congressal hearing about how u.s. border be patrol agents are managing this crisis. i urge you to reconsider this
decision and allow your chief patrol agents and honorable law enforcement officers the right to share their experiences with the american people. chris, i mean, it's like their way or the highway. they won't even allow anybody who are on the front lines to explain to congress what's really taking place down there. >> i couldn't agree more. the american people are fed up with it. we've got over 100,000 people dying in had this country every single year due to drug overdose as it continues to come across the border. my problem is with some of the republicans is the idea of trying to impeach mayorkas. mayorkas, he can't do anything unless the biden administration tells him to. he's just doing basically their marching orders. this is solely at the feet of the administration. at some point in time we've got to get democrats and republicans to come together and we have to get real immigration reform here in this country. do we have problems right now in regards to our labor force? absolutely. do we need more workers? he yes. but we need to do it in a legal manner and we also have to get these people who are coming in to assimilate to our society.
that's important as well. because once they assimilate into our society, they can move up from generation to generation, just like we've done in the past. >> absolutely. i think even to that specific -- go ahead, maria. maria: yeah. please, you go ahead. >> i think, again, you bring a an excellent point. the end of the day, mayorkas can only do so much. clearly what he's do done is insufficient. in the face of the republican senate, effectively preventing us from spending money to secure the border, to do the things we know like hiring the border agents so, yeah, we've got to get our own house in order on the right side of the aisle, but more importantly this is an issue that cannot wait because to your point, it is the leading cause of death had for people age 18-45 in this nation, fentanyl overdoses and we are doing very little if anything to curb that threat. maria: and i don't call it an overdose because it's not. it's not like they were just deciding to the take this pill
and overdosing it. no, it poison. they're getting poisoned. they're taking the fentanyl unbe knowns to to them. they don't mean to take the fentanyl. it's laced on so many other things. chris, you say mayorkas, it's not him, he's being told what to do. what are you suggesting, impeach president biden? >> i don't think that's going to happen. i don't think we're going to head in that direction. i hope the house starts to push forward in regard to getting some things done. the miami representative, the name is alluding me, it's a plan -- maria: jiminez. >> there's another one as well that had a 15 year plan to push towards 10 years and then another 5 years before you can become a citizen, at least something moving forward where we have to put a stop. it a has to stop at the border. we have to stop the flow coming in. we have to decide, we've got all these people here, how do we go about handling this and this is something where we have to have a compromise. i don't think it's going to be the slightest bit ideal to think
we're going to be able to get rid of all of these people. i think we feed to institute e-verify to make sure that the people who have the paperwork are the ones that are able to work. all of these things are right there. we're not implementing them. >> i think we have to have a willing partner. you have congressman escobar who stands in next to the vice president of the nation and then also on the other side you have secretary mayorkas and declares that it's the new ellis island down there on the southern border so the mixed messaging is also a problem wh when elitists from this nation are telling desperate people from other nations can come here and should try to break our laws in order to enjoy the american dream had they haven't done the due diligence to receive. >> ellis island worked. this is not working. ellis island is a system they take worked. if we went to a system like that i would be much happier. maria: it was a different time when america needed lots of workers to create infrastructure at that time. but look, we're going to keep following this. this is just insanity what's
going on at the borders of america. we have much more ahead this morning. big tech earnings are on tap this week. tay is out -- meta is out on wednesday. the big focus is apple, amazon are out on thursday. we're asking the question can, you is the rally in these stocks year-to-date justified? then, pfizer is responding to claims it is working to mutate the covid-19 virus. gain of function research, the long winded he response, what whatutah senator mike lee had ty about it makes a buzz this morning. you're watching "mornings with maria" live on fox business. ♪
>> woman: why did we choose safelite? >> vo: driving around is how we get our baby to sleep, so when our windshield cracked, we trusted the experts. they focus on our safety... so we can focus on this little guy. >> singers: ♪ safelite repair, safelite replace. ♪ nothing, it really is something. as an expedia member, you can save up to 30% when you add a hotel to your flight. so you can have a bit more money, to do even less.
before... & bath fitter. before.. & bath fitter. if you have a "before" bath, now's the time to call bath fitter to get a beautiful "after." with our unique tub over tub process, there's no mess or stress. spend smart on a beautiful new bath done right, backed by a lifetime warranty. join over 2 million happy customers who know: it just fits. bath fitter visit bathfitter.com to book your free consultation. ♪ ♪
maria: welcome back. time for the word on wall street, top investors watching your money. joining me right now is michael lee strategy founder, michael lee, and bull tech capital chief market strategist, katherine roon hey vera. great to see you this morning. thank you for being here. mike, with a big week ahead of the busiest week so far for fourth quarter earnings, par get is headed down this morning, dow industrials down 222, nasdaq down 150. but of course year-to-date tech has been on fire. the sector up with microsoft, amazon, google, all showing big gains. take a look at these numbers. google up 12 and-a-half percent, mmeta up 26%, apple up 12%, apamazon up 21% year-to-date. the stocks are on fire, even though many of them have announced thousands of job cuts with other tech companies also cutting jobs. but we're getting the companies' earnings this week. these are the largest companies by market value, apple, amazon, alphabet. in the top five. take a look at the most valued
company in the world is appee pell at 2.3 -- apple at $2.3 trillion. we want to know if the valley in the stock is justified given the huge market value. what's your take? >> this is one of the times where you're looking at two completely different pictures. one is the economy coming unglued at the seams and it seems a very aggressive federal reserve going after inflation and the effects of a hawkish fed. we're seeing everywhere. and you're hearing it from layoff announcements from these major tech companies. yet stock prices this year have just gone absolutely wild. the s&p i believe is up close to 6% year-to-date before we open today and a how goes january typically goes the entire year. so you're running into some very interesting things that a lot of people don't fully grasp in that the stock market usually bottoms 6 to 9 months before earnings bottoms and it's typically a 12
to 18 month forward looking instrument so if you ask yourself what is going to be the trend of earnings, what is going to be the trend of the economy six months from now, 12 months from now, 18 months from now, i think you're seeing that reflected in the stock prices, are we going to see another leg down before the market bottoms or have we already seen the bottom. i'm not quite sure about that. i think we're going to get a lot of clues from earnings this week. what you've seen in this earnings quarter is a lot of lowered expectations for companies across the board and companies coming out and either beating those lowered expectations or beating the whispered numbers. what's been really ironic is companies that have missed earnings have outperformed the market by like 160 basis points. companies that beat earnings underperformed the market by 80 basis points. you're starting to see retail flows back into the market and then you have massive amounts of buybacks about to come into the market going forward. so a lot of technical -- not
technical analysis, but technical factors in terms of the amount of money coming in to buy stocks is really providing a lot of wind at the sails. i believe there's close to 4 and-a-half trillion in money markets so it's a really kind of a paradox situation where the bears have very good argument as to why the market should be lowered yet the bulls are seeing this price ac action and stocks keep growing higher. very difficult time to invest. maria: it's a great point with all of the money coming in, maybe that is what is lifting these stocks. but mike, the bottom line, apple's stock is up 12% year-to-date the company is reporting earnings this week. this market is up 11% on the nasdaq year-to-date. would you put new money to apple this week before the earnings? >> i know, i tend to favor amazon and google, the stocks had that haven't really held in as well as apple did over the
last year. those names that have gotten beaten up a little bit more than, say an apple are the ones i would rather put money to work in. apple is almost your entire market bellwether, a huge portion of the s&p 500 had, a huge portion of the nasdaq, such an integral part of the economy. everyone is walking around with an iphone. that's not going to change, what's the growth of that and what do we hear from them out of china. maria: all right. we'll be watching what we hear with the quarterly numbers on thursday. katherine, it's also a big week for the fed. this is the first fed meeting of the new year, it kicks off tomorrow. it's a two day meeting as you know. the market is pricing in that we'll get a 25 basis point hike. but there's certainly others who believe 50 basis points is also on the table. what are your thoughts in terms of what we hear on wednesday from jay powell? >> regardless of whether we get 25 or 50, the fed is going to sound hawkish and i think that's
required and necessary because the market is moving as you both mentioned higher year-to-date. i'm not sure about all the money coming in but what i do think is going on is that the market is internalizing the increasing possibility, i think it's a low probability but there is a possibility that the fed lands a smooth landing, a smooth landing, maria being defined as the fed achieving its 2% target. remember, we're still three times the target right now in terms of inflation, the target is two. without having to induce a recession or cause unemployment to move back towards the natural level. unemployment is of course at 50 year lows, 3.5%. real wages are still very negative. so the fed still has to keep rates moving higher and they know that. financial conditions, however, maria, loosening, the equity markets are moving higher. that moves against the fed's
goal of bringing inflation down. so jay powell is going to hike 25, probably. could go 50. but i think most important thing is that he is going to try to send the market a little bit lower. the markets are again moving higher for a lot of reasons that i think are not legitimate. so for me and for my clients, i'm actually moving out of the cyclical sectors that have moved so much higher year-to-date. i think it's a premature rotation, maria, into that mean reversion trade, mean reversion of course being sectors, those asset classes that got the most decimated in the previous year banging on a mean reversion. i think it's premature for that and i'm still cautious. i love cash and cash equivalents, t-bills, maria, three month t-bills are yielding 4.7%. there's no earthly reason in my view to be taking ebbing which at the at this risks when you can -- equity risks when you can
get cash equivalents the that yield 4.7% on a three month horizon. maria: it's great analysis. don't forget, after we get through all of these rate hikes from the federal reserve, we'll start to see more of the unwind of the balance sheet taking out a trillion dollars in liquidity could certainly be an issue for markets as well. we'll be talking about that coming up. michael lee, katherine rooney vera, always a pleasure. tang you so much for the word on wall street. quick break and then house speaker kevin mccarthy set to meet with president biden this wednesday to discuss the debt ceiling, where to cut spending ahead of the june deadline. what can we expect from that meeting? we are on it, next. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are?
xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today.
>> we're going to meet this wednesday. i want to find a reasonable and responsible way that we can lift the debt ceiling to take control of this run-away spending. if you look at the last four years, the democrats have increased spending by 30%. $400 billion. we're at 120% of gdp. we haven't been in this place to debt since world war ii. i want to sit down together, work out an agreement that we can move forward to put us on a path to balance, at the same time not put any of our debt in jeopardy at the same time. maria: that was house speaker
kevin mccarthy on his plans to meet with the president on the debt ceiling this wednesday. mccarthy also dismissed the idea that the u.s. will default on debt saying clearly that they are planning to raise the debt ceiling. joining me now is tennessee congrcongressman, chuck fleisch. it's good to see you this morning. thank you for being here. >> good morning. maria: where do you see waste to cut and where would you expect that we see lower levels of spending that this president would agree to? >> well, thank you, maria and let me commend and praise speaker mccarthy from the time he took the gavel, he's reached towards common sense to the house and i'm so glad he's going down to the white house and sitting down with a president, joe biden, who has just spent for the past two years trillions of dollars without any semblance of fiscal responsibility whatsoever. we're talking, maria, about spending on the discretionary side of the budget. that's what appropriations does.
and, yes, what we can do is not only cut responsibly, we can look across all 12 subcommittees of appropriations and try to find areas where we can cut. but really i think setting spending levels, governments will spend money if you don't constrain them and set in place certain constraints. we need to look at spending levels that are reasonable, good for the american people. we have to raise the debt limit. kevin is right about that. speaker mccarthy is right about that but we have to stop spending money. when i went to congress, the national debt was $15 trillion. that was 12 years ago. it's approaching $32 trillion with no end in sight. speaker mccarthy is right. let's hope the president will listen. maria: is there enough to cut to move the needle on discretionary spending. where are you intending to find areas to cut? because we know that much of the
-- the bulk of the spending is in things like social security, medicare. you also have defense spending which of course if you go back to 2022 levels, that's $75 billion cut in defense spending. so can you really move the needle by just focusing on discretion marry -- discretionary. >> we can move the needle. it's a step if the right direction. you're absolutely right, social security, medicare, medicaid, interest on the national debt are on the mandatory side of the spending equation and speaker mccarthy has been clear and unequivocal that medicare and social security will be safe and a not cut. as we look to the discretionary side, city fence is on -- defense is on the discretionary side. i want to make sure we have robust he defense spending. democrats have tried to get dollar for dollar with nondefense disconsideration fairly spending. that's where we're going to have
to look at probably not only cuts but constraints. i think we can get there. maria: well, that's an incredible thing by the way. as if defense spending is the same as everything else. you've got adversaries on move and the march everywhere you look, china expected to invade taiwan within the next 18 months. but let's talk about what the house has done, passing the strategic response act on friday. thats was 221-206, 205 vote. the bill prevents the energy department from releasing any more oil from the strategic petroleum reserve unless it creates a plan to increase lending on federal lands and water. congressman, tell me more about this, the spr is at the lowest point since 1983 and we're talking about really the oil sector needing the permitting process to ease ooh up, that's what joe manchin wants too by the way. >> absolutely. again, kevin mccarthy and the republicans they the house along
with some of our allies who want to work with us in the senate, want to he restore common sense all across the spectrum. this is just one area. president trumps was very clear, what he did, he filled up the strategic oil reserve when oil prices were low. it was great for the american people. joe biden emptied it and now will have to try to refill it an all a- time high. petroleum prices are up again. we want to make sure we keep the reserve safe. we had a big win in the house last week. looking across the way the house is doing business, when we talk about a five minute vote or two minute vote, i was watching the democrats scurry. they're used to keeping the floor up forean hour or longer so the members would show up. there's no more proxy voting. kevin mccarthy is making sure that all members of the house are showing up for work and if they don't show up for work, they won't be voting and they won't get on their committees so we are getting the american people the house that they
deserve. so it's a big step in the right direction. sometimes it's going to have to be incrementally, unnoterly the democrats with -- unfortunately with chuck schumer in the white house haven't wanted to talk yet. good news, speaker mccarthy will speak with the president this week. i think joe biden will finally realize that he does not have total control, the pelosi house is gone. maria: yeah, we'll see. congressman, it's good to see you this morning. thanks very much, chuck fleischman joining us this morning in d.c. quick break and then president biden's document drama gets worse as more senators are demanding probes into who moved what and when. the senate intel committee wants access to those documents. had they want to know what exactly we're talking about. the washington examiner chief political correspondent buy you ron yorks is here to -- byron york is here to react. stay with us.
the ceo of tiktok will testify on capitol hill. cheryl casone with more details. cheryl: the chief executive agreed to appear on march 23rd according to the wall street journal. this will be the first appearance of a tiktok ceo before a congressionalal panel. the hearing will give lawmakers an opportunity to explore range of growing concerns over the app's security and privacy. is tiktok spying on you? that's going to be the question. goldman sachs' ceo david solomon taking a 30% pay cut last year but before you get out that little violin to play for him, he still made $25 million. the investment bank revealing the figure in an s.e.c. filing on friday. in 2021, he made about $35 million, compensation tied to the bank's performance. tennis star novak djokovic
winning his tenth australian open, cruising the final match in three sets, bringing him to the record tying 22nd grand slam. >> that's it. [cheers and applause] cheryl: all right. a huge win for the serbian star. you can see him climb up into the stands, hugging hugging ang fists with teammates. he's now tied raphael that del. the video you're seeing over the good times back in january of 2022, stark contrast, this year versus last. remember, he was deported from the country for refusing to take the covid vaccine. yeah, good times for novak djokovic, then and now, maria, a year has gone by. maria: i think that's why a lot of people were happy because first they wouldn't even let him into the country.
they were pushing back on him because he wouldn't take the vaccine but he stuck to his principles and ended up winning, there you go. cheryl: now all of the grand slams need go back to the way we were. let's just get rid of all of it, have a normal u.s. open this year. maria: all right. nbc news poll finds americans are equally concerned about both president biden and president trump's classified documents with 67% say they are either very or somewhat concerned about this scandal. senator ted cruz joined me yesterday on sunday morning futures and he wants a search from the fbi underway into hunter biden's home to find the classified documents. watch. >> this e-mail is unusual in the hunter biden e-mails, there's a level of scholarship and erudition if it magically appears it doesn't appear in other e-mails he's sending, the
obvious question is what is he cutting an pasting from. i believe it's critical for the fbi to search hunter biden's home and office, residences, to make sure there are no classified documents there. maria: joining me right now is the washington examiner's chief political correspondent, fox news contributor, byron york. it's good to have you this morning. thank you for being here. the e-mail that ted cruz was referring to is an e-mail from hunter biden to his business partner, devin archer in 2014. you've seen the e-mail, correct? >> oh, yes. maria: yeah. so the e-mail is so specific. >> it's from hunter biden. maria: yeah. >> yeah. april 13th, 2014, it's from hunter biden to his business partner and fellow burisma board member, devin archer and what
senator cruz was referring to is, it's a long, he detailed analysis of the political situation in ukraine and how hunter biden's company might exploit that and get more money out of burisma. it refers to our guy, a number of times, our guy being vice be president -- then vice president joe biden who was going to visit ukraine not long after this e-mail was sent and it said on the one p hand we need to tell burisma we can't make u.s. policy, but on the other hand, everything about the plan is based on the fact that burisma knows this is the vice president's son, burisma knows that the vice president has the obama administration portfolio on ukraine and this is the son they're dealing with. maria: that's exactly right. and you know, here's the part of that e-mail, byron, hunter writes to he devin archer some
sort of decentralization will likely you occur in if the east. the if it doesn't, the russians will continue to escalate there, destabilization campaign which could lead to a full scale takeover of the eastern region. the strategic value is to create a land bridge for russia to crimea. it's so specific, byron. this is why the red flags are being raised, that hunter biden had access to these classified documents and with that accesses actually making money and doing business deals and it's all there in black and white. so where is this going, do you think? and do you expect that we will see something happen with regard to this influence peddling now that the republicans are in charge and james comer at the oversight committee seems to be dug in on this. >> well, we're now seeing kind of a merger between the joe biden document scandal and the hunter biden laptop scandal.
a lot of people have remarked that hunter biden was living in the house in wilmington at a time the documents were there and by the time -- and some of they that was actually on crack and acting very irresponsibly so there are actual concerns about having hunter biden around these classified documents. on the other of hand, earlier in 2014 we were just discussing this e-mail does suggest that hunter biden has inside information about the political situation in ukraine, very, very well informed on a level that you don't see elsewhere in the laptop documents. some senators have said, wow, that kind of sounds like a briefing i might have gotten about ukraine. so this is definitely going to be part of representative comer's investigation. maria: so now you've got ted cruz calling for a search into hunter biden's homes to find
potentially more classified documents. one senator made a comment to a me over the weekend, byron, that this whole thing has gotten merrick garland really upset and, you know, uneasy with what to do next because the doj was totally expecting to indict donald trump and now we see that whats has taken place with hunter biden and joe biden with all of these five locations, unsecured locations where classified documents have been found, it's actually worse than what trump did. how is he going to indict trump and not do more against biden? >> well,. ryit sounds like a prettydiffic. we have seen in public a number of top democrats appear actually embarrassed about the joe biden classified documents matter and the reason they're embarrassed was they spent months trashing donald trump for having -- maria: that's right. >> for allegedly mishandling
classified documents. trashing trump. it turns out president biden, democratic president, also had classified documents, also mishandled classified documents. you're right, they don't quite know what to do. there's one similarity we should point out about this, both in the biden document case and in the trump document case, we the public don't know what the documents are. are they the most serious, most sensitive secrets of the united states government or are they things that maybe shouldn't have been classified in the first place? and i wrote about this last week because april haynes, the director of national intelligence, briefed the senate intelligence committee and they wanted to know the answer to that question and she refused to tell them, refused to give them any information. maria: that's right. >> about the nature of the documents in both the biden case and the trump case.
maria: yeah. she's saying go pound sand, basically. that's how i began the show yesterday on sunday morning futures, the stonewall from the dni and this is republicans and democrats. they say we f need to understand what the documents are, what we're talking about but she said no. so i guess she's going to, you know, i don't know if that stands or mark warner said that a just cannot stand but i want to get your take also about 2024 and what this all means. you have florida govern for ron de santis and his advisors reportedly preparing for a 2024 white house run. we expect that he's going to wait until the legislature business is over in florida before he announces. president trump of course kicking off his re-election bid this past weekend, speaking in south carolina and new hampshire on saturday. byron, you were there in south carolina. what can you tell us about what you saw from donald trump? >> well, it was an extraordinary trump event in the sense that it was small.
it wasn't really huge. it was small by design. it was held in the main lobby of the state capitol in columbia and they had invited about 500 people who were well connected political types in south carolina and the purpose was to roll out the 2024 leadership team in south carolina. the news was that that team of supporters included the current governor of south carolina, henry mcmasser the and lindsey graham, the senior senator from south carolina so the idea was to roll that out but it was also to send a message. remember, south carolina's an unusual state in t that there ae two political figures thinking about running for be president. former governor nikki haley and current senator scott. this was a he message to them saying you might want to run but the current governor of your state and the senior senator are for somebody else, donald trump. maria: yeah.
exactly. he'll well, that's really interesting. we'll see what happens with nikki haley. she says she won't be number two but a lot of people can expect she could be a number two in the upcoming cycle. >> indeed. maria: in 2024, byron. yeah. all right, we will leave it there. great to catch up with you, byron. thanks. >> thank you, maria. maria: byron york joining us. all right. we'll see you soon. we'll be right back. hi. i'm charlie kirk. i started turning point usa to do the work to help save america. we are america's fastest growing conservative movement. right now, the world economic forum and global elites are planning the great reset. their sinister plan to destroy our economy and redefine your freedoms. that's why i want to send you
my exclusive book, the american response to the great reset for a gift of any amount. this book takes you behind closed doors to reveal their radical agenda and arms you to fight back for the future of our beautiful country. join the growing number of concerned americans who are already standing up by calling our special hotline or go to tpusa.com to get your copy with a gift of any amount, right now. we are at a turning point, but it's not too late. call or go to tpusa.com right away to get your copy, and let's stop the great reset. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today.
comcast business. powering possibilities. come, lots of diet thenothing's workedied or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health, weight loss is easy. i always thought it would be so difficult to lose weight, but with golo, it wasn't. the weight just fell off. i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you.
maria: welcome back. december pending home sales coming in better than expected last week, up 2 and-a-half percent month over month. we're loo looking ahead to the november case-shiller index out tomorrow morning. joining us now you to take a look at the housing market is nest seekers international chief economist aaron sykes. it's good to see you. thank you for being here. so many people say the housing market is the in recession. how would assess the market. >> it's so important to realize that real estate is local. and i think that we saw this in the recent statements by goldman sachs where they called out that where there's going to be 25% decreases but they also called out cities like new york and baltimore and miami and chicago where we only expect to see a 1% pullback over the next year. also, if we look at mortgage rates, they're not going down any time soon and buyers are realizing this and louder in the
back, they're not going down any time soon. buyers are starting to come back to the table. we expect velocity and transaction volume to pick up in the cities that we mentioned before and in other of continuing hot areas like florida. maria: yeah. so i mean, you're right, but there's been such demand destruction as a result of higher mortgage rates. mortgage rates went up all the way to, what, 6 of and-a-half percent. we're talking about a double to where we were year ago. >> you know, 3% is not realistic. i personally hope that we never see mortgage rates go back down to 3% because we got ourselves in a bit of a pickle and we're carrying ourselves out with this recession and with the intense inflation and then if you look at the other side of the coin, rents are incredibly expensive right now. so even though affordability is down for the buyer, renting is really damp damenning and put -
dampening and putting a bigger hole. millennials are starting to be interested in buying. we didn't see that for the last 20 years. we almost had a completely dead generation in terms of home purchasing so we have all that pent-up demand from the millennials and we've got gen z appreciating home ownership as well as the number one wealth builder in the united states. maria: yeah. i think you make a great point on rent. people are getting sticker shock when they're renting for sure, pushing them back into the ownership market. in a recent report, goldman sachs analysts are predicting that home values in san jose, san diego, phoenix and austin will decrease more than 25%, erin. was about the val valuations in terms of homes? i you know that you are talking about real estate being local. where are home prices coming down? >> so in the markets that you mentioned, and of course in other markets that seem to be a little over-inflated, over-sat over-saturated during the
pandemic, the cities that can't really handle the new infrastructure and i think why florida has been continuing to be such a hot market, in full didisclosure i work in palm beah and miami areas, we can support the influx of people of over 1,000 a day. we've got the technology and financial centers, we've got goldman sachs and citadel. we really can employ these people and we also offer great benefits to moving so i think the areas that really don't have those benefits, those value-adds we're seeing a pullback there. maria: yeah. i mean, i think you make a great point. there's a reason so many people are leaving high tax states and going to florida. chris murkowski, you're with us this morning. your thoughts in terms of this slowdown in housing? this is not like what we saw in 2006 because it was a different situation then with regard to supply. >> oh, praise god, maria. we don't want to go back to
adjustable rate mortgages where everybody was getting a he reset and had no choice but to sell. even if goldman sachs is right and you see a precipitous drop in mortgage prices, if you don't have an adjustable rate mortgage you still have your house. it's a function of what you can can afford he every month. most people have a 30 year more mortgage. if there's an adjustment like we've had right now where interest rates have gone up, guess what, the principal's going to have to come down a little bit. it's just all natural. maria: yeah. erin, you think rates are not going to go any lower, mortgage rates, but will they go significantly higher? >> i actually think we might tick slightly lower and it seems slightly more inevitable that we're going to have a soft-ish landing. so we've obviously increased the fed funds rate the last five, six sessions. however, we've actually seen mortgage rates come down during that time.
the highest mortgage rate was just close to 7% for the 30 year average and that was back in the fall and since then we've come down to about 6%. goldman expects it to tick up to 6 and-a-half percent but i think we're going to hover around 6 a bit longer. maria: all right. we'll be watching that. erin, good to have you. thanks very much. erin sykes on housing this morning. stay with us. we'll be right back with the hot topic buzz.
. maria: today whose "hot topic buzz" how should pfizer and covid project veer tsa released a video of a supposed pfizer executive, saying that the company is mutateing the covid-19 virus so make more money on vaccines pfizer responded to the claims friday, saying that it does not fund gain-of-function research. >> we have that statement, from pfizer if we put that up has not directedev lucas research we've conducted research where covid 2 virus has been used to the variant of concern utah senator mike lee not buying it tweeting that pfizer is like pinocchio on "sunday morning futures" watch. >> what i don't see pfizer
saying is we never did gain-of-function research anywhere ever in connection with anything take away qualifiers disturbing we need more direct answers than this we can either he have them come in, and speak to any committees i serve on or any other senate committees if they like issue a more public statement i will take theirance whatever form they want to submit them but they need to be answers simple, being acrat. >> after our segment, senator lee tweeted out a whole youtube thing been pinocchio not buying the pfizer comment or the statement, on basically suggesting that he is skeptical that perhaps the company is mutating this covid-19 virus to keep it around to sell more. >> your those. >> at some point changing the definition of words has to end, w
IN COLLECTIONSFOX Business Television Archive Television Archive News Search Service
Uploaded by TV Archive on