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tv   Maria Bartiromos Wall Street  FOX Business  August 19, 2018 7:00am-7:31am EDT

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i'm jamie colby. thanks so much for watching "strange inheritance." and remember -- you can't take it with you. [ whistle blows ] >> announcer: from the fox studios in new york city, this is maria bartiromo's "wall street." reporter: welcome to maria bartiromo's "wall street." i'm charles payne. maria will be back next week. we have a couple special interviews maria did before she left for vacation coming up. her news making interviews with the egyptian billionaire and steven mnuchin. adam shapiro is standing by in the newsroom. reporter: a stellar week for
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walmart. it reported its strongest growth in a decade. walmart beat estimates by reporting earnings per share. it surged 40% for the quarter. walmart shares closed up on that news. despite the dow rally, thanks to walmart and easing trade tensions in china, markets finished up for the week. andrew brunson has been in prison for nearly two years in turkey. this comes as the u.s. doubled its tariffs on metal imported from turkey. this made it difficult for
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turkey's currency the lira. it lost a third its value against the dollar. turkey says it won't give in to u.s. threats. more trouble for tesla. the sec is investigating whether the automaker misled investors. they are look at what the company directors knew about elon musk's plans to take the company private. charles, back to you. charles: the chinese government is sending a delegation to the united states for trade talks at the end of the month. the market is hoping this could be a turning point. the dow surging thursday nearly 400 points on that news. to my all-star panel, author of the new book "borrowed time, james freeman.
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and this news came out wednesday night our time 10:00. we had a fantastic session that particular day. even though the chinese playing it low key it's a low-level delegation. but the market is hopeful. >> this is a good sign they will play ball with us. this is the opportunity to show the united states has the ball in their court. you are seeing their economy really hurt at the moment. what could happen in the future, there is a lot of debt in china. maybe they will start selling u.s. dollars. charles: china doesn't want to see that happen. this news came -- we saw the shenzhen which is the technology
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index. but we saw what -- at the beginning of the year it was the biggest technology company in all of asia. now it's down $200 billion in market value. we saw some economic data. certainly there are cracks in their economic facade. >> for sure. the chinese economy has been declining. we have some good leverage here. but what i think the market reaction is telling us, the market want to trade. we don't want barriers. i hope the united states is moving away from focusing on the particular deficit number they want and more on let's just lower barriers to trade. charles: what about the intellectual property theft? the idea of compromise.
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it would have to include that, wouldn't it? >> so far, and maybe this discussion will be different. the chinese have refused to acknowledge a problem. if that continues. i think the response in the u.s. is let's get done what we have here. we'll focus on that intellectual property theft with china and keep pursuing it. this week investment, people leading on making investments and exporting natural gas to china, they don't know how this is going to get resolved. charles: the market was happy with that news this week. president trump tweeting out friday morning about a proposal to change the way corporations report their earnings. he put it out saying in speaking with some of the world's top business leaders i asked is
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that -- what is it that would make business jobs even better in the u.s. i have to ask the sec to study. i talked about this for a long time. i think stocks are destroyed for the smallest earnings miss. even big quarterly misses can have carnage some the biggest companies. facebook was destroyed. there are a lot of individual investors probably sold in a panic and lost money. i know there is mixed thoughts on wall street. >> i think the president is proposing a solution to a problem he already solved. that is the tax cuts and the deregulation have given american businesses the incentive to invest. charles: the quarterly earnings
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in the way stocks react to them. >> the problem people said is businesses are too focused on the short term. there is very little data behind this and now there is even less. what we are seeing is a ramp up in investment by u.s. companies who are also spending a lot on r & d. if this theory is correct, why is that happening? charles: i will tell you right now as someone who helped individual investors for 30 years it's a disaster. if a company misses by a penny and loses 20% of it market value. every ceo i talked to said they could run their business much more efficiently. if you have a five-year plan and you are graded every three months, it makes it hard to
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operate business. >> i think our studies prove short termism exists amongst ceos. you are seeing investments increasing not by that much. you are seeing a lot of bye backs. wage growth is not where it should be. there is still more to be done with increasing productivity in the united states. with this, i agree with it. >> hopefully companies have been investing more than the companies that aren't public. this is not a problem. you want information. charles: as someone who helped individual investors for 30 years. most of of them lose their money during earnings season. wall street analysts, guess how many got the revenues right?
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zero percent. that means this quarterly thing doesn't even work for the pros who have access to these companies. let's cut it out so we don't get the volatility so individual investors don't sell stocks because they are panicking. a lot of people take their losses on earnings season and never come back to the market. >> i'm not saying the world will end from 3 months to months. i'm -- 3 months to 6 months. i am saying it's unnecessary and a solution to a problem that doesn't exist. thanks a lot to james and christina. we have two huge interviews with maria bartiromo. you don't want to miss them. >> announcer: the u.s. economy is roaring on all cylinders and
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charles: welcome back. growth and jobs, two of the top priorities for president trump when he took office. so fare has been true to his word. by cutting regulations and passing the most of sweeping tax reform in a generation, the u.s. commission growing at its fastest rate since 2014 and the unemployment rate at its lowest level since 2000. maria recently spoke with treasury secretary steven mnuchin. she asked how the trade fight on multiple fronts could affect growth. >> we were talking about 3% growth. everyone was laughing saying that was impossible. now we are talking about getting a gdp number 4% or higher.
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the atlanta fed is pushing it could be as high as 4.7%. we are going to have sustained growth. the plan is 3% or higher sustained growth. as it relates to inflation. a little bit of inflation is a good thing. the fed has been for a while targeting higher inflation. one of the things we have been focused on is wage growth. great financial markets for the last 8 years. no wage growth. you can check that off the box. we now thanks to president trump's economic plan we are seeing wage growth. i think inflation will be under control, but that's something we have to be careful to watch. >> tariffs and trade according to markets and individuals look at the back and forth and tit for tat. you have been leading the charge in terms of beijing and our relationship there. you talked about investment restrictions we were expecting are not happening.
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give us a status clesk what's going on with china and the united states. are we in a trade war? >> we are not in a trade war. we are in a trade dispute. our objective is to have reciprocal trade. i think everybody understands this. we have one of the most of investment markets. the restrictions we are putting forward is about protecting critical technology. this is note about doing anything more than that whether it's china or anybody else. we'll continue to make sure american workers and american companies get a fair fight in china. that's what this all about. maria: i'm glad you mentioned firma and you cfius, that's what you are going to strengthen in making sure china doesn't spin stealing our technology. or is there no answer to that. >> whether it's china or anybody
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else, we have been working with couldn't last six months. we couldn't be more pleased. this passed in the house 400-2. think about that. if that's not bipartisan, what is. we want to protect united states critical technology and we are going to. that's not direct at china. it's direct at everybody. we'll make sure the crown jewels of american technology are protected. maria: the left likes to say this is a corporate giveaway. you cutted the corporate tax rate from 35% to 21% and it's not helping others. but you see where the unemployment rate is. why was lowering the corporate rate so important. >> i traveled with the president during the campaign. we president met with tens of thousands of people. we heard from two critical
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things. please cut regulation and allow us to do business and gives a competitive tax code. if we can come feet fairly the united states will win and we'll see products made in the u.s.a. advanced manufacturing coming back to wisconsin. that's a result of the president fighting for hard-working taxpayers and creating a level playing field. i would say creating a system that works for business. by the way, small business. maria: were you surprised by the bonuses it triggered? >> we were surprised by that. we weren't surprised by the growth. but we were surprised by the number of companies that came out and automatically reward their workers and that's just beginning. charles: there is more next.
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>> announcer: the cost of doing business with china. the trump administration pushing ahead with tariffs with china and naguib sawiris says it's fine by him. fine by him. that and more but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander
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charles: welcome back to maria bartiromo's "wall street." i'm charles payne in norma ria. the trade -- for maria. the trade war is is today whraight china. the chinese fighting fire with fire announcing their own tariffs on billions of u.s. goods. this will include motorcycles and large passenger cars. but there is a hope a deal can
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be reached before this is implemented. maria bartiromo sat down with investment chairman naguib sawiris and she asked for his take on the trump administration pushing back on china. >> it's a good wake-up call because the chinese have been taking you and the west for a ride. they steal intellectual property. did you ever hear of a t-mobile and. it's all chinese. they don't allow internet, to go there and create their own version as well as uber. it's -- if you want to do this, then we should close our markets or put the tariffs to get the wake-up call. because sometimes here people think it americans are naive. they take you for a ride.
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it should not be like that. i support the president totally in this. maria: i think everybody gets this. china has been stealing the u.s. intellectual property now for years. when you want to go and operate in china you will only get a 49% stake in a joint venture, and when you do, you have to put all your technology on the table. in terms of stealing intellectual property, they won't even admit they do it. how do you fix that when they won't admit yes, this is true. >> you fix it by employing other sanctions. do you think all the people using microsoft are using legitimate licenses? i don't, you know. >> let me ask you about the sense of the u.s. in the middle east today. for a little while i think the united states had some issues and problems with our friend like he he egypt and our friend
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like the saudis during the obama administration. how would you characterize our relations today versus the obama administration. >> the obama administration was a disaster. we would not be in this situation in syria if obama would have kept his word if he said if you crossed the red line. they crossed the red line and he didn't do anything. the significance of that is it made the u.s. look weak and stupid that they are threatening without action. it's like -- it's the first thing they teach you, you should never do that. if you say something, you should act on it. on egypt they sold us out. they supported the muslim brotherhood. maria: north korea, iran, china trade. >>it it's caused me to be more bullish in gold. i am the largest shareholder in two of the world's biggest mining companies in africa and
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australia. and the reason why, i saw all these crises, people can always go to gold for safety and it's an anti-inflationary place to put your assets. it was misconceived. people said i changed my net worth into gold. no. i invested in gold mining companies. charles: that was maria's fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that.
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charles: here is a look at some of the biggest market events that could impact your wallet. monday estee lauder reports their earnings. tuesday the non-manufacturing survey comes out.
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kohl's and dollar tree report their results. and more retail earnings from target and the parent company of victoria's secret. earnings from hp and alibaba. the federal reserve hosting its annual gathering in jackson, wyoming. next week maria bartiromo will be back. former macy's former chairman and ceo terry lundgren will be her guest. you can watch my show making
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moony with charles payne every night 6:00 p.m. eastern. a start smart tune in week days at 6:00 a.m. eastern for "mornings with maria." that will do it for us. thank you for watching. ♪ >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.


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