case plus the potential sit on a special counsel robert mueller. that's coming up this morning right here at 8:00 a.m. dowd dupont said to report their earnings before the bell this morning. features looking good. dow industrials up 30 points right out of the gate. nasdaq and s&p 500 also prefer action. markets tumbled yesterday after the federal reserve said higher inflation is coming. better than 170 points as you can see their three quarters of 1%. of one half of 1%. markets are looking like this. este 122. cac down 16. dax exactly where it was yesterday. asia overnight the shanghai composite out better than two thirds of 1%. japan closed for holiday and the others were mixed. breaking overnight.

treasury secretary stephen mnuchin ministry delegation have arrived in china for talks on a terrace. the ominous warning and tesla investors the electric automaker first quarter report showing record spending amid model three production struggles. what ui must did not help these fears either. and the sun pause button. in seattle over the new tax proposal. amazon is putting its money on at the kentucky derby. stories coming up in fox business network dagen mcdowell. fox news contributor jason chaffetz one with the wall street editorial page james freeman. >> i am glad. i'm just going to sit back and listen to you. by the way, i am wearing red and i am wearing this dress for two of our most loyal viewers. stacy is on-demand and we and we

disagreed about everything politically but they are on your show. she loves rod and she's covering thanks to all of our viewers. we've got these details emerging on the controversial payment to stormy daniels. former new york city mayor rudy giuliani were filled last night they did reimburse $130,000 out of his own pocket while shooting down allegations of campaign-finance violations. watch this. >> that money was not campaign money. sorry i'm giving you a fact now that you don't know. it is not campaign money. no campaign finance violation. so they felt it through the law firm in the present every

payday. there is no campaign finance law. do you know the president didn't know about this? he didn't know about the specifics of it as far as i know. but he did know that michael would take care of things like this. >> jason chaffetz, your reaction. if the prosecutors are hanging their hat on this story is going to come and go in a hurry. rudy giuliani on the team has the trust of the president and donald trump has known each other for decades as a welcome relief on that team. he will be leading the charge. maria: cnn reporting such a bombshell. are you surprised? i sort of knew that the president knew it. did you? >> you kind of figured this was tori. i thought this would be revealed in a great trump tweet versus disclosure by his lawyer where

he maybe had enough and said yeah, whatever. i always thought the campaign-finance allegation was a real breach, even if the president hadn't reimbursed, this would have been a new interpretation of the law. the previous president would say it wasn't going to stand up in court anyways. maria: the biggest mistake obviously he had this one night stand with stormy daniels and now she's wanting money. the mistake that the president made was to say he knew nothing about it when he was asked a question about it on the plane. it would have been embarrassing for her. >> if it is the case where giuliani is saying that basically he had a broad remit to solve the president's legal problems and this is someone. you look at all the look at other business entities donald

trump has. he's got fairly complicated legal issues and it's possible that it's his job to settle cases like this. i don't know if there were other ones. maria: we don't know if there were other ones. that's right. >> "usa today" did a focus group with trump supporters that came out. i believe it came out yesterday. trump voters think that the president is not telling the truth about stormy daniels, but they don't really care. i wonder if rudy's appearance last night with sean hannity, i wonder if that factored into the timing of this because again, we all know in journalism there is a lot now. i'm totally speculating that there's definitely a wine now. >> that's what i'm asking rudy giuliani. why did you want to make this disclosure now? >> is talking to the heart of the base.

people really care deeply about this but it's going to come and go. i don't think it's a huge bombshell. maria: i was thinking the same thing. former new york city mayor and later president trumps private legal team at 8:00 a.m. eastern. do join us for that. the high-stakes trade talk. the u.s. delegation led by stephen mnuchin has arrived calling for better trade deal with america could come in as the u.s. is weighing new curse on the telecom companies over national security concerns. connell mcshane is live in beijing. good morning to you. >> cave bear, were reappeared up interesting time with those curves as you put it on two chinese companies apparently coming from the pentagon were selling cell phones. the concern is they may be used to spy on americans and that among other issues serves as a backdrop for talks underway for thursday evening in beijing.

it includes a large cast of characters. the commerce secretary wilbur ross is here in beijing. robert wyatt has there, ambassador branstad, kudlow and navarro. we have to be outside the u.s. embassy when their motorcade left their end was on its way to the site of the talks and the site is actually a place called the state guest house, which has been used many times for visiting dignitaries once again. what can we expect both today and tomorrow. it's anybody's guess at this point, but we talked with trade expert who tells us he doesn't expect the issues between the two countries to be resolved quickly. in talking to people here, at some point chinese consumers might turn away from american brands. take a listen. >> when we talk to her company is it that hasn't happened yet,

but are already seen nationalism rights online or china's social media and that can swiftly changed to anti-americanism. >> u.s. companies companies technology all the rest keeping a close eye on all of this. mnuchin & co. are pushing for $100 billion trade deficit, something president has talked about pushing hard from what we understand. one of the state-run newspapers here today that said china will stand up to u.s. bullying as necessary. that's how they put it here.you. maria: connell mcshane on the round in beijing. the state do you think china is going to make the concessions. what i'm hearing is people i've spoken with cover ceos who've done a lot of business in china. they believe china has already agreed. we know we cannot do things the way they do things. they are expecting to open up their markets.

>> the danger is the only bottom line with the 10th administration is president trump wants to reduce our trade deficit with china. this one single bilateral trade deficit by $100 billion. the chinese can come in and say okay, we are going to buy a $25 billion more every year in the united states. that doesn't get to the root of our problems with china. the demands on technology companies to turn over their very technology. and also just government subsidies to chinese businesses. foreign ownership of those chinese distances. you have to set a very low bar in terms of expert patience with what comes out of the trade delegation. >> first of all, i don't believe they are supportive.

i think they understand that donald trump is serious about this and we are making progress. >> épee greenberg is optimistic given how much time they spend doing business. i am less optimistic just given that the regime there is now run by a real old-fashioned communist and his goal is to keep the party and also to keep state owned enterprises at the center of their economy. i'm not sure how much reform or should affect here. >> i was reading a story that the chinese had this gigantic list where they are tracking their citizens and if you do something that the government doesn't like like smoking outside, you go on that list and it may mean you have a tougher time getting a mortgage or buying a home. so, you've got s. dealing with

communist and you've got to ask him how does that change the scenario and the negotiation? dagen: you are sending all of these people into china and you don't have a really good sense of what might be in front of you when you get there number one. number two, wilbur ross went to beijing last year and brought back a reduction in steel production by the chinese and president trump just dismissed it. again, because president trump isn't there on his team, you run the risk of coming back and saying no, thumbs down and not you. >> we know what we want and i'm hoping we are slowly getting away from the trade deficit as the barometer. the president has cared about this for a long time, but let's hope that one result of this trip is that they focus on opening their markets to american goods, and in the and letting consumers decide what

the right amount of exports and imports is. maria: trade deficits with one nation that seems to be the fixation. that money is fungible. we are not hiding addresses from china. vietnam, maybe we have better relationships on trade with these nations. those markets being close to american companies and the government funding of these businesses. maria: they are on the table, that is looking to have some accomplishments. i don't think it's just about the trade deficit for sure. he's talking about opening up markets and making a dent in this transfer of technology. we will talk more about it as they are in the ground right now. tesla burning through cash great silicon valley carmaker under pressure to raise more capital as it struggles to ramp up production of its model three

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tranter earnings driving the story of premarket. the first-quarter numbers up this morning. cheryl casone s. headlines. >> let's take a look here. they beat the street estimate. revenue came in 21.5 billion. we are also watching dupont right now and we're trying to get a premarket. we are going to hear from kellogg today expected to report higher earnings per share and revenue from a year ago. two big names we are watching. we are also watching shares of tesla this morning. the stocks falling in the premarket drop 4.5%. trading is down more than 4%. concerns about the cash burn that tesla and upward moments when ceo elon musk oxen conference calls with analysts boring and dry and they started taking questions from youtube. the company burned through $277 million in the first

quarter, but he does not plan to raise more capital. as for the earnings themselves, came in better than did revenue tops the forecast. expect a lot of static fours spotify today for the first earnings report of the publicly traded company came out. washington apparently wanted a lot more from the company. they want 4 million paid subscribers but most of its users are on a three adds support here. in total about 170 million monthly users. both results came out the high end the company's forecast. $165 a share as you can see in the premarket, the stocks under pressure down almost 7% in the premarket. let's turn our attention to amazon now. halting major expansion plans in seattle because of the tax considered by the city council.

they are charged about 100 bucks per employee to fund programs to address the city's housing crisis. amazon to blame for some residence for the soaring housing costs. meanwhile, there is this news. amazon's audio book company audible is sponsoring this at the kentucky derby because the name of the horse's audible. it is currently one of the front runners with eight so why not. shares of amazon up about 35% so far this year. >> somebody knows something. maria: are at aroma was a winner for a while. i don't know where she is right now. i was honored. dallas could. anyway, your thoughts on that story. >> i'm not a huge race fan. i will put a few bucks on.

>> they usually -- [inaudible] >> can you say that at 6:00 a.m.? maria: you just did. >> i was talking about the horrors. dagen: you are talking about a donkey. >> let's go with a donkey. he half. maria: we will make a hard term here. >> i think spotify has the best products on the market. every time i've been on the show, you've been kind enough to have met several times. there is always a negative tesla story. they still story. they still think as a major management problems. and how do they service their vehicles when they have new dealerships in town. maria: they are burning a lot more cash than feel at this point. >> i don't know how long investors will go for the act where we don't want to talk about the finances.

it has been since they too fun for a long time. >> is very dismissive. maria: we want to tell you about a tragedy in georgia. we'll take a break. the air national guard crash. we've got the details. the president is speaking out about this terrific news. an incident aboard a southwest airliner. new york bound flight forced to make an emergency landing after window cracked midair. we will have the latest there. stay with us. ♪

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>> military tragedy of puerto rico air national guard plane crashed on a georgia highway killing at least nine people onboard. the plane is on its final play before retirement. the c-130 jet was more than 60 years old. treating about the accident. here's what he says. i've been briefed from the puerto rico national guard that crashed near savanna. please join me in thoughts and prayers for the big guns and their families in the great men and women of the national guard. joining us now is fox news correspondent fighter pilot lea gabrielle. does this have partly to do with the age of the jet? what is your take on this?

>> good morning >> good morning, maria. we don't know what the cause of the accident is yet with the military and national guard when you do the accident investigations. they take some time. could be six months before we know what caused this. the aircraft was on its last flight that he was heading from savanna to what is called the boneyard. it had been in the pants when these aircraft are taken to the boneyard. they are stripped of other aircraft. it is hard to tell exactly what happened, it looks to me like they were either some sort of a power problem. the plane didn't have enough power after takeoff. or there might have been a malfunction of some sort. you see a sort of start to turn, which could indicate an approach and their airplane gets too slow and the pilots trying to keep it from essentially hitting the

ground are trying to stretch the flight path to get it somewhere it can safely land and you add to that turn and decrease the lift that you had coming up under those wings or not can cause it to do a pretty rapid hard pitch down and go nose down into the ground like this one did. another thing that could have caused this is a flight control malfunction, something called a runaway trim where the plane will just go nose down. it's hard to determine at this point, but this was an older plane used quite frequently for the air national guard. things like refueling troops and cargo and other missions and they really is a workhorse and u.s. military national guard. to be determined to know what happens. >> no doubt the questions do, given the fact 50% of our flames are not viable given what has gone in the military.

the starving of money. >> you know, these transport planes in afghanistan, iraq or planes that are built in the 50s and 60s. they are usually don't tape in large cases, that they've been one of the most reliable. it is scary. maria: what a shame. >> you mention this is basically in the process of being retired. the problems of not enough maintenance comment that her. there're so many things that go into keeping aircraft safely flying in the air.

part of the problem with pianist maria mentioned over sequestration and military budget cuts has been not getting enough flight hours for pilots and air crew. things do go along with aircraft had made its problems to buy show sometimes have been and cause issues but pilot proficiency in terms of knowing how to handle and being prepared to fly. that's been one of the major issues my sources in the military have talked about in terms of the crashes we've seen in the military over the increase that we've seen in the military crash over the past few years. a lot of it has come down to more proficient pilots who can better handle emergencies that may happen. maria: kim jong un may release the u.s. nationals and have hinted it may happen soon in a treat yesterday. the past administration but to

no avail. stay tuned. now we are hearing house republicans, hearing that we are in fact see an improvement in terms of the hostages. perhaps they are going to come home. >> we are hearing that they've been moved to the hotel. north korea would want to prepare them to look as best they can because most likely they've been treated very poorly north korea. north korea is an interest to make them in better shape. this would be a big win for president trump. you know, what otto warmbier or came back, he came back in a coma. went to north korea a healthy young man. that sends a very bad signal and

his administration is working hard to these detainees. >> given the fact we just saw this meeting unprecedented between the north and south on the dnc. >> the critics are even coming around saying they like donald trump to help lead us to that place. peace through strength is really a peace through strength is a winning strategy moving forward and it is premature to hand out awards. it is also mocking pres. obama for showing up. it was an embarrassment. >> i'm not expecting, this is in line. >> house republicans should not have much else to do.

>> if it materializes he should get the award. >> absolutely. maria: a historic move from marathon, a $23 billion purchase will create the nation's biggest oil refinery. i will talk to the nation's ceo about that, stay with us. ♪ have got a problem. a few problems actually. we're overproducing, overcrowding, and overheating. we've got aging roadways, aging power grids, ...aging everything. you're kinda bumming me out clive owen. no, wait... it gets worse. we also have the age-old problem of bias in the workplace. really... never heard of it. seriously? it's all over the news. i've heard of it. ahh. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. that's right. the best-run businesses can make the world run better. because solving big problems is what business does best. and doing good is just good business.

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welcome back, thanks for joining us. it is thursday, may 3rd. 6:33 on the east coast was poised for a rebound, markets will open higher this morning, the industrial down a 12:45%, 50 points i have to the market tumbled when the fed indicated higher inflation is upon us, the dow is down 174 points, the nasdaq was down 30 points, half of one person. in europe a mixed story, indices down across the board. the cac quarante in paris, the decks indexing germany done a 12:45%. in asia overnight shanghai composite, trade talks underway, japan close for a holiday and the others fractionally lower. earnings driving the story, the company reported

better-than-expected earnings and said revenue is higher as it sees higher enrollment and the company raised its full-year guidance. a fireball in the sky. a home explodes in connecticut amid a domestic dispute injuring 8 police officers with the latest coming up and another scare for southwest airlines, a window on a jet cracked forcing an emergency landing. forward taking cars off the dealer lots, explaining the move, we will talk about that. getting into the fashion business along with furniture. those stories coming up. oil and gas mega merger, marathon petroleum announcing it will acquire endeavor in a $23 billion deal. and the top 5 just globally. and good to see you, thanks for joining us.

what does this do? gives you more scale. what are the opportunities? >> what we set out to do, this is a transaction to create a new company and the market and transportation company. 3 million barrels per day of capacity. and synergies, good for the consumer, it is going to keep gas prices down. >> any refineries in the us, regulation is so terrible. is that part of the appeal of this deal or has that changed in the trump era where you can build one instead of buying if you wanted to. >> looking at supply and demand curves in the us and globally

we don't need new supply coming into the market. we are taking this platform across coast-to-coast from a refining standpoint and a on matters in this business. you are going to reduce your costs. when you look at the refining system, and in the united states, gearing up, and to improve and lower the software concept. >> the regulatory barrier was lower, you wouldn't build a new refinery. >> the demand for diesel continuing to rise and demand for gasoline is fairly flat. >> what do you see happening with consumer prices, going up a little bit, what do you see short-term long-term? >> depends on the crude price,

brent is in the mid-$70 range. wti, 69 to 70 depending on that. i expect crude prices to level out as this goes the rest of the year so i don't expect to see gas prices go up much but it depends on where you see inventories for gasoline, diesel, very much a balance and crude oil inventories across the globe are balanced. that is what opec is attempting to do. and coming into balance, and in the opec regions. >> potential of production into the global markets. >> that is very evident. the us is exporting to and a half million barrels a day,

mainly going to europe and asia. from accrued standpoint we are in good balance. >> very little imports into the us of middle east type crudes because the price and where they sit with inventory across the globe, we are balanced, we have some upsets with venezuelan crude, and other regions, it will depend on where we see crude prices, to the balance of the year. dagen: when companies talk about cost savings that means layoffs, are you seeing an actual shortage of records for the petroleum business? >> and all the refineries, 16 refineries we will maintain all

of those refinery gates. and environmental controls, safety controls. i don't see any issues there. there will be cost illumination. there will be some cost of the nation. dagen: you mean layoffs? >> two corporate entities combining, you do need two of each, there will be some redundancy on the corporate side. >> the cost savings bringing best practices into refining, bringing best practices into the retail situation. in retail we have a speedway convenience store chain in coasts you are familiar with. dagen: i know speedway better than i know my family. >> with speedway we are going to take a speedway platform coast-to-coast. endeavor had many brands they were using in the company-owned company operated system. we will turn those into speedway and have one system.

>> how our margins on beef jerky and twinkies versus oil? >> much better than loyal. maria: question of the week, thank you so much, great information. we will be watching the developments. good to see. coming up, saying goodbye to the sedan. for is focusing exclusively on suvs and trucks was the vice president and president of global operations, explaining the move. suits to match your sheet, a line of 3-piece suits, the sweetest superstore's latest offering. ♪ ♪

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her hostage for several days. cheryl casone he with the details. cheryl: the barn on the property she was being held exploded in north haven, connecticut. police trying to convince the husband to come outside when the barn went up in flames, massive fire spread to the collapse home, the explosion injured 6 police officers. her condition is unknown but all the officers are expected to fully recover from their injuries. a southwest airlines flight heading from chicago to newark forced to land in cleveland less than an hour into the flight after a window broke in midair. and being died after -- and

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maria: ford motor going all in on america's appetite for trucks announcing last week it will discontinue all the two of its car models. 20's executive vice president and president of global operations at ford, joe henricks. 90% of your fleet are going to be trucks and suvs. why? >> we believe that is where the market is going to. what has historically been taking place the last 10 years consumers are moving more towards suvs, they likely height, safety, flex a believer passengers, room for cargo. we can give them fuel-efficient options. dagen: it is interesting, i did notice the difference when you look at oil prices in terms of it is tied to the market.

when oil prices go up and gasoline prices get expensive people do switch to smaller cars. >> they have historically. maria: the option of fuel-efficient suvs, higher-speed translations coming on our suvs and if they were to spike again, given that flexibility they are looking for. maria: why did you choose the cars you chose, the focus, fusion and taurus, ford is discontinuing 5 of the slower selling sedans and only produce the mustang and the new focus active crossover. give us your reasoning behind doing away with those and why you keep the mustang.

>> mustang is the heart and soul, fast, fun and affordable and always have that sports car and focus, we wanted an option for people who still love the sedan and want a lower price point vehicle and an echo sport is in the escape, they were able to cover the market with more offerings of suvs and meet the needs of customers. maria: the company reported earnings above expectations but also announced it will reduce capital spending $5 billion over the next several years. is that part of this plan? >> if you are not reinvesting in the next generation of sedans, the capital, the tooling of investment, also getting more efficient. dagen: maria: the f150 is america's best selling truck for 40 years running, how will this send off competitors who want to get that market share? >> we will keep investing in the f-series trucks, 40 years in a row, best-selling trucks

in america, just freshened the vehicles, more fuel-efficient and the forefront on where trucks are going in america. maria: it is a part of from the bread-and-butter that has been this company for so many years. it has to be nostalgic. >> there's a lot of emotion and passion for vehicles, body styles have been changing and we stuck with the model t body style we would be driving, they look like suvs, can they were cars back then but the body style has always been dominant for flexibility so consumers want fuel-efficient the enforceability and the safety that comes with vehicles like suvs. lauren: 1 is the earnings result of this? >> between the two we have identified the $5 billion in savings in the next for 5

years, this is a contributor to that and a lot of other components about getting more fit and more competitive but if we prioritize where consumers are going, willing to pay the price in revenue for the vehicle they are getting, you see it happening around the world not just in the us. dagen: the company has changed its focus. think back years ago, when your former ceo said we want this to be a mobility company. it was a completely different focus than what the company is about in terms of producing cars and trucks. do you have concerns on trucks and suvs to the market change in terms of oil prices, what if they go up, go hiring you are all in on trucks? >> we will have cars around the world. this is dominantly in the north american market where consumers have more effectively. we have cars around the world but most important we believe we can give people better options at the same price

points and flexibility in fuel economy they are looking for because the eco-boost technology on engines, things have changed to give suvs better fuel economy. dagen: and competitors out there, and jpmorgan analyst telling clients the stock is down after elon musk disses wall street analysts calling them boring bonehead questions. >> the earnings call, we love our analyst calls, the questions they ask the media we always appreciate. maria: we could have a deal sooner than later on nafta. >> we are keeping up-to-date with discussions and we believe we can work on an agreement for everybody and modernize it and meet the needs of the us. maria: the auto sector is one of the important points in

terms of where the cars will originate. where is the car or truck being produced in canada or mexico. >> a high focus on where the supply base is, the jobs that have left the us and mexico that have been in a supply base, a big focus on that and you will see that. maria: you think we will have a favorable deal? >> i am optimistic. maria: the global head of ford motor. the pres. just tweeted mr. cohen, an attorney receives a monthly retainer not from the campaign and having nothing to do with the campaign from which he entered into through reimbursements, private contract between two parties known as nondisclosure agreement, these agreements are very common among celebrities and people of wealth. in this case it is in full force and effect will be used in arbitration for damages against stormy daniels. the agreement stopped before and extortion accusations made by her about an affair.

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>> maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, may third. payback controversy this morning. former new york city mayor, rudy guliani, revealed how the president reimbursed his personal lawyer, michael cohen for the payment to stormy daniels. i'll be speaking with rudy guliani one hour from now about the new revelation, get the details on the president's

potential sit-down with rob efforrobertmueller. dow industrials are poised to open up 40 points today, fractiofractionally better on te nasdaq. the federal reserve indicated phier inflation is upon us. the dow was down 175 points. the nasdaq and the s&p 500 were also weaker. in europe this morning we have a mixed story as you see, most of the major averages are lower, although really just fractional moves. fq100 is flat, the dax index is down a third of a percent. earnings driving the story, cardinal health missing expectations on revenue. the shanghai cposite in china was the winner. breaking overnight, easing fears of a trade war, steven mnuchin and his trade delegation arriving in china for talks over tariffs. i spoke with secretary mnuchin right before he left for the trip earlier this week. >> president trump has been very

clear about the economic agenda going back to the campaign. it's been all about tax reform, regulatory relief and trade. we've made incredible progress. we're seeing the tax cuts just beginning to kick in, making big progress on the economy. we've done a lot on regulatory relief. now we're focused on trade and the president is determined that we have free and fair and resigh reciprocal trade. >> maria: super charged spending, tesla burning through more cash than ever as it struggles to fix production problems with the model 3. why elon musk bizarre's earnings call did not help ease fears. the stock is poised to be down today about 5%. we just heard from the head of ford. for the first time, they're opening up about their plan to abandon all but two of its cars. highlights from interview with joe hendricks, who told us 90%

of the fleet will be trucks and suvs. a twist in facebook's data scandal, cambridge analytica iss shutting down in the face of the controversy. then, we're covering all that, coming up. joining me to blak break it dows dagen mcdowell, jason chavitz along with james freeman. >> great to be here. the facebook story is a big one. when have you a an individual who can access personal data, they don't have the systems in place to protect it. that's the big part of the story there. >> maria: and then he brags on tinder. look at the access i have to everybody's data. >> he's trying to hook up, you know. >> maria: hook up. >> dagen: it's not enough to be an idiot in private. you have to brag down your idiocy. >> maria: coming up, former new

york city mayor, rudy jew, is her--rudy guliani is here in st. alan greenspan joins us to look at the economy and former state department spokesperson marie harp is here, along with ed rensey. as well as the ceo of movie pass is with us as well. let's kick it off with details emerging about the controversial payment to stormy daniels. presidenpresident trump tweet'st this morning. a private contract between two parties, known as a nondisclosure agreement or nda, these agreements are common among celebrities and people of wealth. in this case it's in full force and effect and will be used in arbitration. the agreement was used to stop the false accusations made by her about an affair.

despite already having signed a detailed letter admitting there was no affair prior to its violation by ms. clifford and her attorney, this was a private agreement. money from the campaign or campaign contributions played no role in this transaction. this comes after the president's lawyer, rudy guliani, revealed last night that the president did reimburse his personal attorney, michael cohen, $130,000 out of his own pocket while shooting down allegations of campaign finance violations. watch this. >> that money was not campaign money. sorry. i'm giving you a fact now that you don't know. it's not campaign money. no campaign finance violation. >> they funneled it through a law firm. >> funneled through a law firm and the president repaid it. >> i didn't know -- he did? there's no campaign finance law? >> zero. >> do you know the president didn't know about this? >> he didn't know about the specifics of it as far as know but he did know about the

general arrangement that michael would take care of things like this. >> maria: joining us right now to react is judge andrew napolitano. thank you for joining us. what did you make of all this? >> i make of this that rudy advised his client that the dangers of there being a campaign finance violation were greater than the harm to revealing that he knew about this and that he had authorized it. there's a lot of disconnect here. michael cohen says he was never reimbursed. the president famously on air force one said he knew nothing about it. the president didn't sign the document. the president's name doesn't appear on the document. there's a fictitious name, david daniels, i think -- not daniels, david dennisson. wouldn't be two daniels in the agreement. so there's a lot of disconnects. but rudy wisely wanted to take off the plate of the federal prosecutors here in manhattan, who conducted the raid of michael cohen's office, the issue of whether or not

campaign funds were used to silence her. if they had been, you have a very, very serious issue here. >> maria: that's why he wanted to take that off the table. isdy anybo surprised that the president paid to make stormy daniels go away? and it wasn't part of the campaign -- i never thought it was part of campaign finance. >> the president has to resolve an issue with his wife and his base on one side and with prosecutors on the other. he has resolved it appears the issue with prosecutors on the one side. did he admit to the affair. will christian fundamentalists look at him on balance, saying he did this but he did these other things. >> dagen: what did the evidence evangelicals say during the primaries, we're electing him as the president, we don't want a preacher at potus is what they

said. >> maria: that's why i think trump voters feel like they know who they voted for. they voted for someone they thought would change their lives on an economic basis and on jobs creation and that's who they voted for. to me, i don't think this is a bombshell revelation. >> i want to get to the broader issue with mueller. why play out all these legal proceedings on twitter in the public? is that serving a purpose when you're dealing with mueller? >> i have a lot of respect for rudy. he may very well be the perfect person to represent the president, having deep roots in the justice department as a former prosecutor and great respect amongst lawyers and judges and deep roots in the political world. at one point he was comey's boss. to negotiate in public when the person you're negotiating with can really wreak havoc on your client to me is dangerous. as your folks would say, don't

taunt the alligator until after you cross the stream. [ laughter ] >> i couldn't resist. that effectively is what rudy was doing last night by saying no way is he going to appear for more than two or three hours. where did that come from? bill clinton testified for a full day. >> maria: there's always a why now, is the question i'll ask rudy guliani when he joins me an hour from now. thank you so much, judge. don't miss by interview with the former new york city mayor, rudy guliani, my guest at 8:00 a.m. this morning. we'll put those questions to rudy guliani. treasury secretary steven mnuchin has arrived in beijing for trade talks with chinese officials. the meetings are expected to cover a range of u.s. complaints on china's trade practices. secretary mnuchin outlined his expectations when i talked to him earlier this week. >> i'm cautiously optimistic about the meetings. we're going to go over there. we're going to have franks frank discussions. these -- frank discussions. these are issues that president

trump has been focused on for over the last year and hopefully we'll make significant progress. we're going there to make progress. that's our objective. >> maria: president trump tweeted about it last night, our great financial team is in china trying to negotiate a level playing field on trade. i look forward to being with president shy i xi in the not to distant future. joining me now is former ceo of famous dave's barbecue, ed rensey. thanks for joining us. >> good morning. exciting times, huh? >> maria: it sure is. you visited china. you dealt with chinese markets. how do you expect the meetings to go? do you think china responds in a favorable way to make things more balanced? >> yes, i do, actually. i think the chinese are entrepreneurial in a lot of ways. it's an industrious society. they know they need to modernize. i think they need the united

states market to continue to keep the economic engine going. i think trump is fulfilling all of his strategic directions of regulation reduction, tax reductions and now fair trade. he believes in free, fair trade and i think he's got a great team over there and i think the chinese are listening very carefully. >> maria: what do you think the most egregious -- >> the chinese help us tremendously with north korea. you can see the result of that. >> maria: that's true. maybe there's goodwill there as a result of that move in regards to north korea. where do you think the most egregious issues around china right now and where do you think they'll actually move the needle? is it opening up markets? is it the transfer of technology? is it that deficit, $375 billion trade deficit. where do you think they move the needle? >> i think the biggest concern i have and a lot of people have is the theft of intellectual property and the transfer of technology out of the united states without our control. that's a huge issue.

they're getting an unfair advantage from that. i think it's got to be addressed very, very directly. after that, the imbalance in the trade, i think it will be managed in some fashion. i think the chinese are going to give us a little bit, so there's good headlines. but it's going to be an ongoing negotiating process. we've got a great team over there. this won't be the last meeting these folks have on this issue. >> he'd, this is jason. i wanted to transition. mcdonald's put up impressive numbers of 5% in-store growth, the international component. what do you see happening there not only with mcdonald's but also the sector with which you're involved? >> food away from home is going to continue to grow because it's so convenient. steve easterbrook came to mcdonald's in 2015, in the last three years he's done a fabulous job of reorienting the company, altering the culture, making a huge push to get rid of the company operations because the great benefit of

mcdonald's is the franchisees. the fran chathe franchisees keey strong. international growth is going to continue because mcdon at mcdons provides a great service, great quality of food, it's accessible and affordable. i think the company will continue to grow and get stronger and stronger. >> james freeman here. i want to get back to cha chinar a question. when you were dealing there, i assume you were hoping by now it would be not just a more open economy but maybe a more open democratic political system. do you see any hopes for reform there? >> look, their culture is tens of thousands of years old and ours is 200 years old. they're going to find their way. you can't change the culture dramatically. i think there's a lot more freedom in china today than ever. i was in shanghai. i was on the board of directors

of snap-on tools. they've got fabulous facilities there. the local governments work well with american businesses. it will never be a democracy. it never will be. they can become more democratic in their he behavior and i think they are. economics is a great leveler. >> maria: good point. ed, thanks so much. >> you bet. >> maria: good to see you, sir. we'll be right back. stay with us. as a control enthusiast, i'm all-business when i travel... even when i travel...

for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- -or paying any upcharges. what can i say? control suits me. go national. go like a pro. a few problems actually. we're overproducing, overcrowding, and overheating. we've got aging roadways, aging power grids, ...aging everything. you're kinda bumming me out clive owen. no, wait... it gets worse. we also have the age-old problem of bias in the workplace. really... never heard of it. seriously? it's all over the news. i've heard of it. ahh. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. that's right. the best-run businesses can make the world run better. because solving big problems is what business does best. and doing good is just good business. shhh!

sorry. so let's grow more food, with less water. and make healthcare, more healthy. it's okay, i've played a doctor. what have we got here? let's take on the wage gap, the opportunity gap, the achievement gap. together, we can tackle every elephant in the room. and save the rhino while we're at it. because, whatever the problem, business can help. and i know who can help them do it... >> maria: welcome back.

cambridge analytica closing its doors. cheryl casone has details. >> cheryl: they are shutting down following criticism for violateing the privacy of 87 million facebook users. this decision coming after months of losing clients and facing a growing number of legal fees. cambridge analytica and its partner issuing a joint statement that blames unfounded accusations for the closure, quote, the siege of media coverage has driven away virtually all of the company's customers and suppliers. as a result, it has been determined it is no longer viable to continue operating the business. leaders of the company are involved in a number of other entities which leaves the door open for a possible rebranding in the future. former white house press secretary josh earnest is heading to united air alliance. it will head up the communications team to help improve its image. meanwhile, another privacy related issue for facebook. the wall street journal says the

company has fired a worker who bragged about his access to facebook users' info to a woman that he met on tinder. the employee told the woman his job involved tracking hackers and finding identities. he called himself a professional stalker. the woman reportedly told a friend who works for a cyber security firm. that engineer was let go after the expert, the woman's friend, we should say, exposed the employee on twi twitter saying s guy used his privileged access to find women on the site. facebook said they acted quickly following a quick investigation. facebook has been in the spotlight following a massive data privacy scandal. let's talk about ford now. they are focusing on almost exclusively on suvs and trucks. the executive vice president and president of global operations at ford, joe hendricks, sat down with maria just moments ago. he explained the reason behind this decision.

>> well, by 2020 we believe that's where the market is going. if you look at historically wase what's been taking place, consumers have been moving more toward suvs. they like the higher seating, more flexibility, more room for cargo. we can give them fuel efficient options with suv body styles. >> cheryl: shares of ford are down about 10% this year. a smartphone maker will launch their initial public offering in hong kong this year. they're seeking to raise $10 billion. this is a highly anticipated offering, expected to be the largest chinese technology ipo of this year. the listing values the company at just under $100 billion. so a lot of headlines for you to go through. back over to you. >> maria: thank you so much, cheryl. coming up, i'll sit down with alan greenspan, getting his take on the fed meeting yesterday, tariffs, trade and inflation. plus, elon musk shocks analysts last night and investors with a

bizarre earnings call. we'll speak to somebody who was listening to the call where he said the questions were boring and bonehead. back in a minute. ♪ say what you want to say and let the words fall out honestly. ♪ i want to see you be brave. ♪ what you want to say, and let the words fall out honestly. ♪ if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... minutes. that guests would compliment our wifi. that we could video conference... and do it like that. (snaps) if you'd have told me that i could afford... a gig-speed. a gig-speed network. it's like 20 times faster than what most people have. i'd of said... i'd of said you're dreaming. dreaming! definitely dreaming. then again, dreaming is how i got this far. now more businesses in more places can afford to dream gig. comcast, building america's largest gig-speed network.

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xfinity mobile. it's a new kind of network designed to save you money. click, call, or visit an xfinity store today. >> maria: welcome back. tesla might not burn fuel but it still burns through a whole lot of cash. they ramped up spending in the first quarter. elon musk continues to say the company is on pace to make 5,000 model 3s a week and they won't need to raise more money for

tesla. shares this morning are down after yesterday's report. y lonhe cut off analysts yterd, saying the questions were too dry. jp morgan said the stock will be down after a bizarre phone call before elon musk said the analyst questions were boring and bonehead questions. joining us right now is tasha keeny and david kudla. thank you for joining us. tasha, you were on that call. was it bizarre? >> it surprised some people. tesla is never boring. i think elon is sick of people focusing on the short-term. he wants to focus on the long-term. at arc we think that fully autonomous cars are the largest opportunity ahead of tesla. he said they plan to launch the tesla network, their version of uber, at the end of next year. once that happens, this will no longer be a one-off sale business model. this will be a recurring revenue

model where they get a per mile fee from customers using their autonomous taxi network. and on that basis, we think that cash flow concerns will go away. >> maria: i understand that. david, can elon musk just blow-off the short term and say look, i want to look long-term, when there are liquid at this issues that in-- liquidity issues that investors want information and answers on? >> nota not at awful it's import to understand the current state of the company, what they plan to do with their production and liquidity crisis. they may not make it to autonomous. when they do -- this is a mistake that investors and analysts make, they assume that tesla owns the electric vehicle market, they assume tesla owns autonomous, that tesla is going to own ride sharing or or robo taxis. if you look at the leader, it is waymo, the division of google

alphabet. we've had significant investments in that technology. you have lyft and uber already in that area. they're buying land rovers and volvos and those vehicles to work with. who is even working with tesla? >> dagen: my reaction to this conference call was the reaction i had years ago when i was interviewing elon musk, who took his microphone off when the interview began and said i don't have time for this, i have to go to a meeting at goldman sachs. my reaction then is the same today. you're running a consumer products company. you've got to hump these cars to the american people and not just rich folks who are just in love with your arrogant, brilliant self. you have to sell these cars to regular old folks and if you try to sell one of these cars with that attitude to my parents, they would tell you to stick it

where the sun don't shine. >> maria: are they selling these cars? >> dagen: the 3. >> maria: how's it going? how's business in your view. he's promised profitability in the back half of the year. >> we see demand for these cars through the roof. tesla's not short of fans. i think you're absolutely right that tesla needs an approach to the mass market. that's why the model 3 is so important. the comments on waymo, i actually think that tesla it's not focused on enough, it's how much of an advantage they have in the autonomous segment. they have scale. waymo has perhaps better technology, a better performing autonomous car. tesla has scale. it's the only automaker today that's collecting data from cars on the road and with machine learning it only gets better with the more data you have. tesla has billions of miles worth of data. waymo only has millions. >> maria: they also have needs for cash. he continuing t continues to sat

need to raise more money. yesterday i spoke with kyle bass. here's what he said about what musk has been saying. >> i have no idea how the statement that he made recently publicly could possibly be true, meaning they don't need to raise capital this year. i think that statement is going to prove to be false. i think if they're serious about rolling out the big truck and the tesla roadster, they'll need to raise 2 or $3 billion this year. then the question is what did elon musk say publicly and is that a securities law violation. we'll see sometime in 2018. >> maria: do you both agree? >> i think if tesla were to raise cash, we would actually be happy. the reasons is, because we just want them to get as many cars on the road as possible, more cars means more data and it means that when they launch the tesla network they have more scale. >> dagen: not only is he jerky, he's dishonest. that's a bigger problem. >> how many cars does he need to

sell to justify this valuation? >> going forward, we think this is more about, again, the autonomous network. so, okay, so actually let's go back. if you think that i'm totally crazy, autonomous is never going to happen, we think just based on the electric vehicle market alone and tesla's market share which they showed us last night, it's great in their segment, great in electric vehicles, we think the stock could double over the next five years. >> maria: we've been talking about electric cars for a long time. is it resonating? are people buying electric cars? >> they are. there's an inflection point coming up. today, a gas powered call on a like for lake basis is cheaper, and that's what people care about is the sticker price. in the future, around the early 2020s and electric car will be cheaper than a gas powered car because of the battery cost decline curve. >> remember the competition that is coming into the market. right now there's about a couple of dozen electric vehicles

globally in the market or introduced in 2018. that goes to 48 next year. then to 70, then to 115, then to 143. these big automakers with a lot of money in the coffers will not sit by and let tesla own the market. if and when tesla gets to profitability, it will become a much more crowded space and they will be competing with all the traditional auto manufacturers in this area. >> maria: do you want to sell this stock? >> do i want to sell the stock? >> maria: yes. >> i'm short the stock. >> maria: okay. >> i think on a competition basis, tesla -- so the advantage that tesla has is they started early. to build the factory you need billions of dollars and you need years to get this done. tesla is vertically integrated. they make the batteries themselves. they have superior battery technology. they said that last night on the

call, they have higher energy density. >> maria: you're on the upside. >> here again is what tesla is doing that is not going to pay off. a lot of auto manufacturers found out that vertical integration can actually be a crippling factor. here's the thing. if you are visiter callie integrating -- vertically it. end grating something that -- integrating something that is a commodity, that's something you want to outsource one day. lead batteries will be some day and there will be a lot of manufacturers making cost competitive lithium batteries for cars and everything. >> maria: good debate, guys. good to see you both. thank you so much. we'll be watching tesla. up next, i sit down with alan greenspan. he weighs in on inflation, trade and a lot more. then apple watch to the rescue, how the device may have saved a teenager's life. back in a minute, right here.

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>> maria: welcome back. good thursday morning, everybody.

thanks so much for joining me. i'm maria bartiromo. it is thursday, may 3rd. your top store rise right now. looking for gains, futures indicate a higher opening for the broader averages. we're off the highs of the morning. dow industrials set to open up about 10 points, 9 points now, s&p is up 2 and the nasdaq is up 3.5. this on a pretty good u tumble yesterday. the federal reserve indicated higher inflation is coming and as a result stocks plummeted. the dow down 175 points, waits a tough final 90 minutes of trading. the nasdaq ended down 307 3 -- 0 points. in europe, weakness across the board. fractional moves but nonetheless in the red. in asia, china was the sole winner, up about two-thirds of 1% on the shanghai composite. japan closed for a holiday and the hang seng down 1 1/3%. investors have a taste for blue apron this morning. the company reported a smaller than expected loss. still lost money but it wasn't as much as some thought. the stock as a result up 8%. the company added customers in the first quaer and the stock is up better than 8% to $2.27 a

share. new video released from the las vegas mass shooting. the body cam footage shows the tense moments as police entered the shooter's suite. we will bring that to you. and starbucks reaching a settlement with the two men arrested at the philadelphia store that made a deal with the company and the city. those details coming up. the apple watch becomes a life saver. the story of how the device highlighted a health problem in one teenager. that incredible story later this hour. the unlimited plan is back, movie pass brings back the $10 deal. wait until you hear about it. our top story, the federal reserve in focus. stocks falling yesterday as the fed indicated that rising inflation is ahead. the fed held interest rates steady, remaining on track to rate rates in june. there is a higher opening on the broader averages. joining me right now is alan greenspan who served five terms as chairman of the fed. it is good to see you.

thank you for joining us this morning. >> it's my pleasure, maria. >> maria: let me ask you about your take on inflation and how this economy feels to you right now. we have seen a better gdp, right, dr. greenspan? we've seen obviously better jobs numbers. do you see the indications of inflation this morning? >> they're not immediate. and in fact, until inflation rears its head, politically we're not apt to do what is required to sustain the process which is now beginning but is unlikely to show in the data for still quite a while. we're in a state -- we have been in a state of stagnation for quite a number of years, since 2008, in fact. we're looking at the merging to what we used to call stagflation which is a combination of slowed

economic growth and accelerating inflation, which the theoreticay has not happened before but we're moving towards stagflation. it feels good but it's a false dawn. >> maria: there is a feeling that things are going to slow down quite a bit going into 2019 and 2020, dr. greenspan. what are you seeing? the last gdp number we got was showing 2.3% growth for the first quarter. do you agree that things are poised to slow down economically speaking in terms of growth in the coming years? >> well, they're already slowing down, although you've got to be careful with the first quarter number. everyone has been explaining for a long period of time, the seasonal adjustments for the first quarter tends to push the gdp growth rate down. but the critical issue is that the longer term does not exhibit

a particularly powerful gdp growth rate and all of the major analysts who look at the data in the future including cbo and the fed and all of this see a slowdown quite significantly from where it's been at the 3% to 4% range for a goodly part of the post world war ii period. >> maria: why is that, dr. greenspan. the fiscal stimulus we've been talking about, the tax cut plan, the rollback in regulation which did move animal spirits a bit in terms of the business spending component of all of this, what is causing things to slow down? >> first of all, let me just say that the two major initiatives of this administration, namely the tax cut, the corporate tax cuts specifically, and deregulation have been very positive forces and indeed

you're already beginning to see the impact of both of those initiatives in the marketplace. but when you look further down the road, the demographics are against us. the most productive people in the economy are retiring and the basic structure of productivity growth is being suppressed by the huge increase in entitlements, which largely is not an economic phenomenon. it reflects the aging of the population and a number of other things which are in those data. but the main issue is social security and social security is a significant problem in the sense that it is not being funded. the actuaries of the social security administration in fact say sort of a hidden part of the

last annual estimate that in order to get a a sound social security system, you have to cut benefits now and indefinitely into the future by 25%. what that is telling you is the fiscal system is out of whack and while i approve whole heartedly of the corporate tax cut and the deregulation, the corporate tax cut unquestionably causes the deficit to rise and we're not funding it by other means. and so lon as long as the fundis not there, productivity cannot grow and accelerate because what you need is gross domestic savings and the major component of that recently has been the so-called budget deficit or surplus, which effectively have major factors, major forces

driving capital investment. >> maria: you are hitting on exactly what the story of the moment is right now. the fact that you've got these demographic changes causing this slowdown and then we just had this huge omnibus spending bill which of course has no plan in terms of reining in the entitlements. we're talking about higher interest rates as well complicating things. it's going to get more expensive to finance the debt. so these are the issues that are front and center right now, even though we're talking about ad good reaction to tt corporate tax cut plan. >> well, i think that if you look and sort of marginally into the future, we're no longer seeing the productivity growth that remember was 3.5% to 4% not that many years ago annually. we're now under 1%. and productivity growth is the key factor engendering gross

domestic investment. so you can't have the type of growth we had in the past if productivity is flat on its face. >> maria: that's such an important point. that's why we're talking about a labor shortage and we're talking about ceos not finding the workers that they need. by the way, i put all of this to secretary mnuchin this weekend. but he says he doesn't see a slowdown on the horizon. listen to what he said, dr. greenspan. >> don't buy that at all. i think, again, we see very strong economic growth for the next several years and in regards to the tax plan paying for itself, if we do get the economic growth by definition it will pay for itself. the difference between 2% and 3% gdp is trillions of dollars of revenue to the government. >> maria: he said he's looking at 3% growth for a couple years out and he said he's hoping we don't see trillion dollar deficits. >> it will be very a tough haul

to get there. mainly it's a demographic issue and so long as the entitlements continue to crowd out -- remember what's happening is the big bulge over the years in entitlements is crowding out gross domestic savings. >> maria: right. >> gross domestic savings plus savings borrowed from abroad is what our capital investment is all about and we've already engendered $8 trillion in net debt to foreigners. these are trends which cannot continue. >> maria: dr. greenspan, let me switch gears. do you think that this team in china is going to be able to move the needle on what we're talking about here? we all know the issues at hand in terms of theft of intellectual property, chinese don't want to open up their markets and of course that $375 billion trade deficit. >> well, remember that trade

deficit occurs because americans want to buy cheap chinese goods. >> maria: that's true, yes. >> and what the tariff -- what a tariff would do is make them more expensive. >> maria: exactly. that's what we're talking about. ? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges.

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>> maria: welcome back. police releasing a body cam footage from the las vegas shooting. cheryl casone has details. >> cheryl: the footage shows how officers responded. you see officers assembling outside stephen paddock's suite and this video shows the inside of his room shortly after the shooting. 58 people were killed, hundreds of others were injured in that attack. well, a new investigation into cbs' charlie rose by the washington post is revealing several new and disturbing revelations against the former tv host. the post reporting this new

investigation that basically that incidents of sexual misconduct were more prevalent than first known and three managers at cbs were warned of his behavior over a 30 year period. the allegations go back to 1976. rose responded to the post in a statement saying, quote, your story is unfair and inaccurate. 60 minutes' executive producer has denied prior knowledge. the two black men that were arrested at a philadelphia starbucks reached a symbolic settlement with the city, $1 each. philadelphia will establish a $200,000 entrepreneur program for students at the men's request. the men were arrested last month at starbucks while waiting for a friend. the police were called because the men hadn't ordered anything. taking a look at shares of starbucks, the stock is as you can see right here down a little more than 6% over the last year.

and finally this, maria. you're going to like this story. an 18-year-old is crediting her apple watch with saving her life. she was sitting at church when her watch showed her heart rate spiking and advised her to get medical attention. her mother's a nurse, took her pulse, realized the watch was right. they rushed her to the e.r. she was diagnosed with silent kidney failure. she may need a transplant. her mom sent a thank you letter to the ceo, tim cook. he responded on twitter, saying this story inspired them to push harder every day. i went and checked my heart rate which i always do. >> maria: coming up, the movie pass unlimited plan is back after a two week high sa high h. the ceo weighs in on the change, coming up. and guliani, the top of the hour.

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>> maria: welcome back. a dream for lovers of the silver screen. after a two week hiatus, movie pass is bringing back a one movie a day subscription plan for $9.95 a month. the company's ceo is with us. good to see you g. >> nice to see you. >> maria: you're bringing it back because you have incredible demand. >> tens and tens of thousands of people have subscribed since yesterday. >> maria: isn't that great? tell me why this is so popular. >> there's so many great movies coming out over the summer. i think there's 15 movies that are expected to do over $100 million, jurassic world and solo and so people really want to use movie pass but they also want to see the small films. they want to see like tully and the small films.

people just -- i think we're kind of getting out of the cay cacooning stage and wanting that experience. seeing a movie in the theater is a better experience. >> maria: you made the point, this reenergizing people to get back to the theater. people stopped going to the movies. they don't have to, they can watch it on their tv. there's ne netflix and hulu. you think this gets them up and back into the theaters. >> it does. it makes it easier to make the decision. people are always saying well, i don't know if the movie's good, you know, maybe i'll wait for netflix. this kind of is like a no risk way to go see a movie. >> maria: you are formerly with netflix. netflix is willing to spend $8 billion, $10 billion on content, original content. >> we are too. we're not $8 billion. but we just bought a film, bought into a film called gotty with john travolta. this is the beginning of us

giving exclusive content to our subscribers. john travolta will come out to five cities around the country and create red carpet events exclusively for movie pass. >> maria: is this the new way you will continue to lure people to the movie theaters, paying for original content? >> paying for original content and working with film makers to get them out to the market, to bring hollywood out to omaha, des moines, detroit. >> maria: i want to see that film. that looks good. the process, the deal is done, how's it going, integration? >> the integration, we've been working so closely with helios and mathison, it almost feels like we're the same company. >> maria: was there a lot of overlap? >> not a whole lot, in finance there was overlap and they're a public company so they have much more sophisticated finance

books. that integration was the most difficult but it's working really good. >> maria: it's good to see you. thank so much. we'll be watching movie pass and the success there. stay with us. from a new york city mayor, leader of the president's legal team, rudy guliani, he'll be in studio with me. he'll talnext here, maria barti. stay with us. good thursday mor.

thanks for joining us. i'm maria bartiromo thursday, may 3 your top stories right now 8:00 a.m. on the east coast, payback controversy former new york city mayor member of president trump's legal team rudy giuliani valleyed how president reare aboutsed permanent lawyer about michael cohen forpayment to stormy daniels i will be affecting about the revolutions details on potential sit-down with special counsel robert mueller rudy giuliani is coming up markets have worsened dow industrials to open down 1 4u7b points third of a percent lower extending yesterday's sell-off nasdaq also down right now, 20 points, one-third of one percent markets tumbled yesterday as fed indicated that higher inflation is upon us, the dow down 174 points three quarters of one percent s&p down three

quarters of one percent naz doc down almost half a persons. >> europe worst dax in germany down almost one half of 1% asia overnight china win up two-thirds of 1% on shanghai composite, japan, closed for holiday breaking, trade talks taking center stage, treasury secretary mnuchin trade delegation arrived in china in attempt to avert a trade war i spoke with secretary mnuchin about expectations for the threat before he left. >> i am kaurnl about optimistic about the meetings i don't want to predict what is going to happen not going to happen we are going over there very frank discussions, this is are issues president trump has been focused on over the last year, and hopeful we will make significant progress we are going there to make progress. that is our objective maria: live in beijing president's team pushes for level-playing field on trade blue apron heating up stock climbing better than 6% after

company reported smaller than expected loss, lost money was not as much as expected 2.23 a share amazon hits pause button titan putting development plans on ice over the new taxi proposal. >> in rear view mirror for the first time ford motor opens up about plan to abandon all but two cars exclusive executive with ford vice president and, hend rooibs tells me 90% of the flesuvs and trucks. >> james freeman, great to see you now good to be here. >> good to see. >> fascinating interview with ford -- >> then the -- wanted to turn it into a mobility company, now, there is completely making a left turn saying no, no, no we want big trucks we want --

>> that is what americans wanted for a long time the government has really pressured automakers to make small fuel efficient cars, looks like government maybe not going to pressure people so much, and, nature take its course. >> especially gasoline prices the way they are getting to that coming up this morning -- >> the legal team is taking a stand against if mueller investigation as new details in stormy daniels payment saga brought to light, fox news with the very latest good morning to you. reporter: couple was looked at beltway either mayor had major messaging misstep or simply hanging out there on something that was going to come up later maybe some perceive it a problem some would not the question did the president lie? when he skied aboard air force one he didn't know where money came from to pay back michael

cohn and stormy daniels dna that whole -- affair the mayor kind of talked about this, at length he said this was not campaign money, it -- that is fine, he also said it wasn't like something from the president directly let me tell you what he said this was funneled through law firm, and the president repaid it. okay. so not like the president sat there said michael take care of this problem for me oh here is a check it was funneled through the firm because he is guy on retainer the mayor last night. >> he did know about general arrangement michael would take care of things like this like i take care of things like this for clients i don't bill them every single thing that comes along. reporter: follow that basically what he said maria i met with individuals take care of the problem similar line-item serviced rendered

paid through law firm not like president went to michael cohen said did you take care of stormy daniels thing good here is your check let me take you to twitter what everybody is talking about president sort of laying out idea of how this all played out, sort of legalese one thing he did say he said this is common among celebrities people of wealth in full force and effect arbitration of damages basically saying for uninitiated this happens a lot where you have somebody has a lot of money, ask somebody take care of it they do, the money is funneled through law firm, not direct payment, he didn't know we find out if that is true mayor will explain more for now back to you thank you so much joining me former new york city mayor leader of the president private legal team rudy giuliani mr. mayor good to see you -- >> thank you so much for joining us, explain what went on here a lot of people feel like last night -- on hannity a bombshell yes, the president

did pay this and has not guilty to do with campaign finish finance only that it blew up their case case began as a illegal campaign contribution, 130,000 dollars must have been campaign funds, they go after -- invaded, could help's office as a lawyer disgraceful i do not know how they put signatures on that affidavit but they do invaded because of issue about 130 couple other things, and they don't bother to tell you, of course, they don't have any honor, that their whole case is falling apart, we want to get it out of the way, the money is paid by michael cohn in october 2016, of course, didn't a publicing to presidential candidate then because i wouldn't remember it if he talked to me i was -- 24 hours day after it was over, there was to reimburse, the

president reimbursed him out of noncampaign noncampaign contribution money private money his money, and did it over a course 2017, but it was mixed in with a couple other things that have nothing to do with them or anybody else, just things that a lawyer would take care of for you client a lot of lawyers make out checks for clients. millions of dollars, and remember i don't want to say this in any kind of demeaning way but 135,000 dollars, when he put 100 million dollars in his campaign, is not the biggest check you write. >> it could be when the president was asked about this on air force one he said look i don't know you are going do have to ask my lawyer i don't know anything about it will he didn't realize that they could actually tie it to campaign finance that would be that would be. >> very good question maria this was never about the campaign, it is about personal reputation, the money was not id to help campaign or hurt

campaign, the money was paid because of the embarrassment in allegation like this people pay that even when not true sometimes pay when not true even more than when it is true because it is so unfair. >> president had this one-night stand and then. >> no, he did not. >> he did not. >> he says no she said no in a letter they have one-night stand -- >> why -- >> why pay the money. >> because tom brokaw have paid it? kept reputation? did other people pay like this. >> want her to go didn't want to admit it was embarrassed. >> how many people have done that? i am a lawyer settled cases for people that are innocent, people that are partially innocent and people that are guilty, it is more damages when innocent because nobody forgets it. >> was it more important for you to just get the campaign

financing issue off the table. >> look mr. president forget about embarrassment suck it up admit you paid is that what you said. >> how many times do you -- have to go back to checkbook, to see what you know you forget did i make that consideration didn't i make contribution 2000 dollars 5,000 dollars from this account or that account? >> if you have to speak off the cuff you are going to say, well i did from it here i did it from there now we have the records we can see exactly what it was, now they should drop it. maria: are will they drop it? i mean -- you said a couple weeks ago when you were first joining president said this is going away in a couple weeks. >> no, no i thought we get the agreement in a couple weeks i don't think the investigation. >> apparently people in mueller team chuckling said this is not going away. >> some day they have to go away been there a year haven't gotten anything some day they have to go by bi. >> how do you sure that that

is what i am talking about mr. mayor face it this has been front and center as hanging over this president entire year. >> when you look at the m misconduct only crimes investigators or supervisors largely supervisors you look at leaking by comey, when you look at the invading of attorney's office when you look at putting out those 49 questions, attorney generals should step in say this is a this is a disgraceful exercise injustice as department of justice this investigation should be dismissed mueller should volunteer that. >> we learned from head of intel committee chairman nunes, that there was no intelligence used to actually launch a probe into collusion between trump and russians what chairman nunes told me last week. >> took us a long time to actually get this what is called electronic communication as we know now

for swlurz that is it is original intelligence that counterintelligence was started really important counterintelligence investigation uses tools of intelligence services not supposed to be used on american citizens wanted to know what intelligence did you have that actually led to this investigation. so what we found now, after the integratovestigators review in fact there was no intelligence. >> can robert mueller ignore that. >> no i don't think he can ignore it -- the investigation is the investigation. if -- if -- actions have tan place that are illegal unethical, he ultimately has to take responsibility for that. and as the eth cal man -- ethical man he should say enough is enough, let's end

this part of the investigations go forward with what we have i think some in grave general. >> what is he saying in terms of a sit-down with president you are warning the special council might set up a trap. >> i don't tell you what bob is thinking nor should i tell you what he said he's got to do that when he wants to our position is simple we will cooperate as we have already, with 1.2 million documents if they convince us they are objective can accept the truth. they think the truth here is designed by jim comey, jim comey is biggest liar of 2016-2017. he and mccabe point finger at each other one is lying, kind of think it was comey because mccabe went to him for permission for a leak comey, had kind of opened the floodgates of fbi, every fbi

agent has got to be embarrassed he was their director, any dwi done that would have been fired prosecuted. >> we know mccain also lied he leaked to "the wall street journal," also according to ig report lied, three times under oath so he lied already see. >> mccabe is a big liar, comey even bigger. >> we have list of questions, coming out, that have come out mueller would like to ask president as part of this investigation, this week, one of the questions, reportedly reads this, what was the purpose of your april 11 with, 2017 statement to maria bartiromo it appears to be referencing this response from the president when i spoke with him, at the white house, last year listen to this. >> -- what about -- comey. >> -- i am just saying. >> because i want to give ava good fair chance, director comey, was very, very good to hillary clinton that i can tell you. if he weren't she would be right now going to trial.

maria: why does he want to know about a question i asked -- why do you think why is that on the list of questions. >> he thinks hillary clinton was treated you know in a very special way, do you think the -- every american thinks so, of course, she was nobody gets the report written before the interview nobody gets to get interviewed not under oath nobody gets to have the fbi director suggest that you know she is innocent. and nobody gets a big press conference like she got no reasonable prosecutor would ever prosecutor -- i was on the you find a prosecutor that wouldn't? >> in terms of that interview hillary gave with fbi it wasn't recorded. >> we will take that what does mural want the president to go on the record. >> mueller said you criticized that investigation so we're going to do it differently, on other hand why are you asking questions about that

investigation? isn't the president entitled to his opinion happens to be pretty universally accepted opinion that that was a complete sellout, by a complete sellout of fbi director. >> stay with us quick break we'll be right back. into retirement. and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about. talk with your advisor about shield annuities from brighthouse financial- established by metlife.

talking to rudy giuliani with us this morning we talked about questions, that were leaked, that mueller wants to ask the president about, there

is speculation out there, that your team leaked them did you leak those questions? >> i dwidn't see those questions the "new york times" saw before me nor did anybody else that -- i can't imagine -- so i don't know where leaked not going to point fingers at anybody somebody might have leaked it to help him, i tend to think the special prosecutor not bob, but somebody below -- >> wands people to know wanted to know from the president in. >> yes if they think questions are reasonable they don't know how bad they look with those questions. maria: why are questions so bad. >> look at the question you put up there. >> about my interview. >> why would it be anything of concern to a special prosecutor if he thought hillary investigation was unfair? >> does he do they just want the president to just start

talking? talking about then he can go anywhere. >> you got it. maria: so that is the plan -- >> i always thought it was unethical to try to trap -- question somebody for the purpose of trapping into perjury but i never wanted just a perjury case, i always want i would have never done the martha stewart case who did martha stewart case. maria: jim comey. >> jim comey not a complete -- >> he put her in jail for lying. >> he should be. they should put him in same jail cell. >> you are working on mueller probe but stormy daniels situation what does stormy daniels want. >> i am not working on stormy daniels thing other lawyers are working on that however in the course of our work i was able to pick up information, that exonerates both the president and about michael cohen now should apologize for raid half premise of that raid was false. >> if she went against a legal

document said not to discuss what she did with president why discussing it -- >> i am not involved in that. >> okay. >> what do you think she is about and lawyer who is ambulance chaser money money money money. they sold out cheap because allegations are not true she is written a letter signed it saying it was in true, the president has said it was untrue connot produce as scintilla of independent evidence. >> it is about money. it is about her being on television. she is on television, contradicting herself constantly the other guy problems wants msnbc to be their legal commentator. >> you are working on mueller probe where do you see this going let's face it this has been going on with no evidence of collusion, no evidence of obstruction of justice but they are talking about the

possibly potential of a subpoena. >> they can't he is president of the united states has all the powers under article two, america is one of many countries that head of state is not to be prosecuted -- until after leave office not subjected to criminal process, different -- this is a criminal case, best capital right now getting ready to negotiate historic agreement with korea will save the planet. and we have to sit down say we got to get ready for a deposition mr. president? forget kim jong-un? >> why republicans are nominating him for nobel peace prize. >> why -- >> rudy giuliani good to see you thanks for laying it all out for us. >> thank you. >> thank you.

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deal, u.s. delegation led by treasury secretary steven moonnoon no china over tonight for high stake trade factuals to begin with beijing here is what he told me ahead of trip. >> we are definitely going to be talking about intellectual property rights, technology important issues on lift. >> i am cautiously optimistic about meets i don't really want to predict what is going to happen what is not going to happen we are going over will do we are going to have very frank discussions these are issues president trump has been focused on for over the last year hopeful we will make significant progress. maria: this coming as u.s. reportedly weighing new occur by those os china telecom companies over national security concerns, connell live in beijing they blocked the we will have between broadcom and qualcomm for that very reason. reporter: with exactly right one of many issues backdrop

for talks update how day one is going with secretary mnuchin we need intelligent intellectual property theft you heard about play a large role the other thing to the earlier part the pentagon ahead of talks moving to block, two chinese companies, from selling cell phones on u.s. military bases for fear they might be spying on u.s. citizens the american side. for the chinaed point of view there is worry in beijing local business owners about what trade sensations will do to their lives we know because we went to a local food market earlier today with some of the products, fish other products come in, from the united states, it was lobster from boston area as example, the local merchant selling lobsters told us, that there was breakup in supply chain a couple weeks ago she is contender this kind of droogz on for a what i will we may see more of that similar quite frankly to what we heard from farmers and others in the united states gives you a little bit of perspective to get back to talks themselves

maria we haven't heard from mnuchin today we are hopeful not yet confirmed might hear from him some sort of patriot before he leaves here that is scheduled to happen tomorrow night for now back to you. maria: thank you so much, on the ground in beijing switching baby boomers millennials struggling to save for retirement have also avoided the credit card debt pitfall plagued generations, chris model hogan good to see y one-third of adults 55 and over less than 10,000 dollars for retirement, that is horrible. >> alargeing understood people must not understand how important this is, that if you don't save you don't invest you won't have money to spend later a problem. what do you do. >> people have to wake up look understand they have got to take control they have to be

responsible you can't law rely on social security to be enough, because it is not going to be we have to utilize 401 k, 403 b's put money away so it can dwroe. maria: ing dayen it started at home for you and me big savers. dagen: luckily millennials lashed from financial crisis 2008 being at home seeing parents struggling with being underwater on home taking risk, debt that they didn't understand the consequences of it, i think that they learned from real hard lessons that quite frankly, politicians in washington need to learn. >> looking at me? [laughter] >> chris i've got a daughter and son-in-law, the direction they are going they want to get into a home what do you tell a young couple like that. >> slow down be very aware, everyone wants to apply a home the goal is own it pay it off own outright don't make

emotion decision make business decision understand how much you can afford how much you are willing to spend slow down. you can get -- over buying over spending, six years to correct. >> talking about people learning after the crisis to be more responsible, avoid debt the biggest exception student loan debt are you seeing young people not having financial flexibility because of a burden on that store. >> half student lon debt 37 thousand dollars a big deal young people don't understand it the decisio making how it is going to impact financial future parents don't understand it what we have is terrible conyou mecontinuum unt someone wakes up i want to help people understand there are ways to get higher education you don't have to faculty yourself behind eight ball financially. maria: status quo. dagen: i have said that about education, it is lying i need to get a degree where you can go out get a job, are they

going to educate you the cost-benefit analysis of that degree people make fun of me i got art history degree wake forest was cheap as all out when i went to school there today i would not be able to make that decision. i would have to major in something hit the ground out of college pay off debt would cost me to go to wake. >> the opportunity for people you can work and go to school at night. you know, this thought that you have to go sign up for four year institution go be there, take on 50 to 60,000 a year student loan debt ridiculous, work full time go to school at night or vice versa different ways you can do that without signing on that bottom line. >> we leave it there great audio advice thank you so much a pleasure to see you chris hogan, new york city mayor rudy giuliani member of trump's team sheds light how president rei am bursted personal lawyer michael cohen for payment to stormy daniels, we weigh in on early interview

with mayor blue apron quarterly results a stock market rally, back in a moment with that. ♪ ♪ whoooo.

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maria: welcome back. goods thursday morning thanks for joining us. i'map. thursday, may 3 your top stories right now 8:33 east coast markets turning lower, they are off worst levels but, nonetheless, talking about 80-point selloff out of the gate this morning, the nasdaq down 17, if s&p also weaker quarter of a percent 1 points lower often top of big selectively yesterday european incomes down take a look at european indices we see fractional losses dax in germany worst performer down a third of a percent in about asia overnight, china was win up better than two-thirds of a percent japan closed for holiday -- jolt for tesla elon musk cut off lalts in earnings call calling questions too dry boring bone heed questions down 7 1/2% as a result people taabout that on des amazon taking on taxes halting plans to build in seattle over new proposed policy made in

america, we are looking at one small business taking the baseball diamond by storm, all that coming up this morning, first this top story this half an hour, very latest member of president trump's legal team revealing details this morning in stormy daniels payment saga, former about new york city mayor rudy giuliani says president trump reimbursed personal attorney michael cohen 130,000 dollars, amount that cohen paid to daniels what giuliani told me. >> the president had this one nightstand, and then -- >> no, he did not. >> he did not. >> he says no she said no. she said no in a letter on one-night stand. >> why -- >> why did he pay the money because. >> because tom brokaw have paid it? kept reputation? did here people pay like this. >> wands her to -- didn't didn't the want to admit embarrassed. >> how many people have done that i am a lawyer i have settled cases, for people that are innocent for people that

are partiallyly innocent people that are guilty. it is equalizing damaging more damaging when a person is innocent because nobody forgets. >> it joining us former state department spokesperson national security advisory to president obama 2012 presidential campaign fox news contributing, political editor, thanks for joining us. >> congratulations on new radio show starts monday. >> thank you. >> but reaction to what we heard from mr. giuliani. >> well it has been fascinating between hannity last night "fox & friends" and you this morning gets lots of new details from the trump camp, and some of the contradicts previously part of what we hear in tweets from president a new story that might be true, but we've heard multiple stories and i am not exactly sure what to believe. >> the point i think, jason chaffetz of making the announcement or revealing the fact that yes, in fact the

president did pay 130,000 dollars to stormy daniels i think was an effort on rudy giuliani's part to get this campaign finance illegal issue off the table. >> following money trail is going to be relatively easy but the question is going to be the proximity to the campaign why was that payment made, when it was made, what was this agreement did donald trump -- his signature is not on it name not on it a battle without -- and accord at some point partly the court of public opinion rudy giuliani trying to make a case that hey this has nothing to do with campaign. >> why would it have anything to do with campaign. >> well this morning rudy got pretty close to saying, that that it actual did one of the reasons they paid the money was because if she had gone public, a month before the election, that it could have negatively impacted donald trump's campaign interesting rudy giuliani said that the president had not known why this was paid off but he did reimburse him addresses one

campaign finance issue but not the issue of whether they were trying to impact election by keeping our silent that is where the money trial e-mails are going to come out don't forget michael could ohiohen sa didn't get reimbursed cohen telling a very different story than rudy giuliani interesting the dynamic to watch. >> lears representing different capacities said i was never reimbursed, if this came out 2016 sort of links into campaign trump and sarah huckabee sanders last few months saying we knew nothing about any payment actually we did just finding out about it 10 days ago only $130,000 i still don't thy -- in scheme of things this is much ado about nothing two days from now this thing comes and goes. >> probably. >> nothing to do with mueller collusion russia. >> that is true other networks like talking about it because they get to say porn star in

the chiron. >> like -- >> look at what shows lead with like pullon pullon pullon. >> the bigger misconduct what has gone on top of fbi department of justice the fact a massive abuse of power leadership tried to change election do you disagree with that. >> to your point even as we got this drumbeat on stormy daniels especially on some competitors the president approval ratingsed have gone up economy doing well, other things but here is the thing i agree with you congressman, that when i look at whether i approved the president's job performance the stormy daniels thing is irreallirant to me really is, however, if the white house is telling us lots of different stories, on to itself that should matter even if whatlying about doesn't really matter. >> what else are they not telling the truth about if you can't trust credibility that is a problem i think trying to get ducks in a row sort of

seems conconsistent story out there we will see how this plays out. >> giuliani working on russia probe -- and -- can robert mueller ignore the fact no intelligence used to launched the investigation into so-called collusion between trump and russians. >> all the issues around hillary clinton -- exoneration letter written before she actually had interview, all of the issues around how they handled the e-mail scandal with white gloves. >> all i say the reason i have been vociferously in favor of mueller the investigation i still am want to know what happened in 2016 with russia and there cans if is turns out he comes out with charges whatever has gone very far afield from that core mission, i am going to have a problem with that, i hope that is not what he is doing because he has a job, it is an important one, and if that job more fz into get trump no matter what that is not okay. >> criminal charges referred

by the ig -- inspector general putting that out having a hard time having special counsel doing all work on russia probe when we have all information about this abuse of power. >> only i give on that is to focus on trump a wide ai ray of things nothing do with election interview questions from maria, why looking at the democrats why aren't they looking at hillary clinton we know dnc, general counsel spending tens every millions dollars mueller doesn't seem to be looking at that at all. >> going after podesta brother seem strands mueller procuring we haven't heard nearly as much maybe they aren't and turning mind eye to dems we are not going to know until report finally comes out if democratic collusion weird

stuff fusion gps russian lawyer to trump tower. >> how not collusion between democrats and russia given fact dnc and hillary clinton paid for dossier there was money exchanged hands. >> between working with russian government or agents of the russian government lawyer went to trump tower working on behalf russian government then fusion gps paying former spy happens pof russian citizenship different they stole e-mails. >> nothing to do with trump. >> we will see. >> -- this investigation. >> different thing. >> this how long investigation going on year and have a of. >> i think wrapped up soon. >> the gentlemen put together the dossier had high level russian government sources that helped tie that intelligence to trump and also, the fusion gps of a percent piece is important that russian lawyer acting on behalf russian government at trump tower met with the off

the top of your head of fusion gps that exact day before and after meeting a democratic group. >> wife of bruce ohr number three at doj worked at fusion gps as well. >> inspector general report should come out in may are you -- buying whatever he comes up with or going to -- >> you a all implying what mueller comes up with you want to take a look -- >> nofrng it is i don't think this was probable cause to go in and look at it. maria: . >> i think when reports come out all take a look at them who they intellected questions they asked at that point look what mueller comes up with ig talk about it then. maria: pretty good idea what went on fbi doj already -- dagen: jim comey looks at bret baier in the face says i know that -- democrats and hillary clinton -- dossier, then told a lie then told a lie said well republicans started funding i have the had we know is not true now.

he literally either he is a -- idiot or a liar or both! maria: yes -- >> 6 to 8 pm, congratulations. >> thank you so much we will tune in we'll be right back.

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maria: blue apron on rise beating fourth quarter expectations. >> good morning, everybody. maria, so the good news for blue apron today we are seeing the stock to upside they saw customer growth from december, ending in december, 5% growth, for that quarter so that is good news and people like to see that surge in growth of customers the stock up about 7% they had an -- that is big picture as you know maria this is an ipo last june 10 dollars a share low end of the range so under pressure a lot of

competition, in the industry, to google stories for google the first is that they are on bloomberg reporting they are going to have a trivia game a virtual reality headset coming out 360 degrees celebrate a french ilutionist, movies 1900, back to you. maria: that is your french? cheryl: qui. >> i can't keep up. >> zan major expansion plans considering a new tax on big business, joining me host of "varney & company" stuart varney, stu good morning to you another tax story. >> actually kind of tax exodus story when you think about it, they have the uber liberal seattle, creates its making this homelessness problem then proposes to tax big business

to cope with problem that they have created. and no surprise amazon says wait a minute, we're not paying this head tax they were going to build a large tower in seattle, that would repemplo now on hold that started now stopped construction because they know 7,000 employees would cost arm and leg whether that tax is imposed, this is part of you a large story if story moving away from individuals or businesses, moving away from very high tax rates. i encourage this. it is ridiculous isn't it, exodus out of new jersey, exodus out of new york, exodus out of california exodus out of societal, when they impose that tax i am all for it i think -- tax revolt. dagen: my favorite story about amazon made 200 phone

calls to cities, that were rejected as second headquarters location telling why they didn't get picked amazon changing ways of local governments, accuse they are trying to make changes like to workforce, training. >> that is the point is this exodus that you are referring to, going to actually move the needle on the governors and mayors of cities and states to cut taxes? >> we live in hope but i do not expect the needle to change or shift, these states unlike seattle, they have been run by democrats for generations. they have taxed and taxed and taxed spent and spent and spent the ultimate are is they are desperate they should cut taxes but they won't cut taxes they are in that mind-set you got to make business pay or individuals, you got to make them pay, not working. but that is why places like

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maria: business small business looking at made in usa company that is hitting out of the park the story in san francisco good morning to you good morning, maria. gary malik starting building as a side hobby now in hands of process like manny ramirez, about helping players stand out from dugout to home populate the start-up is getting a major league break.

>> they get to wear neon, shin guards -- natural, i think if you can express yourself through your bat you are going to want to hit better. reporter: in a league of their own only thing in common with heavy have iters like louisville slugger both make bats. >> we don't have anyone working for us that doesn't know about baseball i think that is a big deal if you are a pro, you call another company get salesman doesn't know he doesn't know the game. >> building a bat takes minutes the basic rocky colored bats endlessly customized for players cult like following, with iconic birdman seal of approval officially approved for mlb this season you are going to see bats at home plate in hands of pros like fillies

dodgers, cubs. maria: great stuff thank you so much, in san fran final thoughts from this all-star panel next. ♪ ♪ oh ♪ ♪ ♪ oh ♪ . . they appear out of nowhere.

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♪ ♪ maria: market down 100 today. final thoughts from all-star panel? >> beyond all the chaos in washington, the economy is humming and i'm actually going to be publishing more good news on the score later. maria: we will look for that, james. >> great interview with rudy giuliani but i still think the most important thing that will happen in may the inspector general report when michael comes after year of doing interviews and looking behind the scenes that would be the key pivot point. maria: that's going to be important. dagen. dagen: jim comey went after martha stewart for lying, she was never criminally charged with underlying crime of insider trading. that's very telling, the ig report may have found people lied. we know that it found that andy mccabe lied but the question the

american people will have, are they going the actually pay the price for that because other people have gone to jail for that very felony. maria: we would like accountability for abuse of power. >> justice. maria: guys, thanks so much. great show, here is varney & company and stuart. stuart: thanks, maria, he's a visionary, he's a billionaire, he's the tesla king, he just went right off the rails. good morning, everyone. you don't see this very often, the top guy at a big tech company making bizarre statement that is sink his stock. well, that's what elon musk did last night. after reporting a loss of $785 million in three months, he dismissed analysts questions about money. he cut them off, next, he said. how many have taken delivery of model 3 cars, that's what he was asked, another dismissal, boring. he said -- that's what he said. then he took a shot at investors, sell the stock if y