tv Maria Bartiromos Wall Street FOX Business December 20, 2020 10:30am-11:00am EST
lockdown ends. jack: great ideas, thank you. check out this week's edition of barron's.com. that is all for us. wear your masks, be healthy, and we will see you nex >> from the fox studios in new york city, this is maria bartiromo's "wall street." maria: and happy weekend, everybody. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. thanks so much for joining us this weekend. in just a few moments, we will get jonathan ward's take on former disney ceo bob iger being considered as the next ambassador to china. we are talking china with the founder of the atlas organization. and another big development in the fight against covid-19, moderna having the second vaccine approved, millions of doses of pfizer's drug already being distributed, the ceo of the cleveland clinic about this
historic and incredible rollout. but first, let's take a look back at some of the big moments this week with top newsmakers on "mornings with maria" in this week's edition of "the week's talkers." ♪ maria: doctor, congratulations to you. you must be feeling some great satisfaction this morning. >> it's a great day, frankly, for science, it's a great day for humanity, it's a great day for the ecosystem of biotech and pharmaceutical industry, and it's a great day for america. maria: tell us about the distribution timeline at university hospital. >> we did a survey that shows 50% of people were willing to get it as soon as it came, but now we have tremendous interest. we have vaccines both, throughout the entire week and into next week. maria: in terms of the antibodies, once you have the antibodies, can you get the coronavirus again? >> this is a key question, but so far the data looks pretty good that if you've been sick or get inoculated with the new
pfizer vaccine, the antibodies last for some time, and that's an important part of the pluck health response. maria: your reaction to some of these lockdowns, new york city, for example. indoor dining, done. >> we've seen more than hundreds of thousands of small businesses close. i opened my first small business when i was 20. i know what it's like to have a dream. and then to have it shattered by government -- maria: you've been investigating hunter biden and his business dealings for over a year, and now we learn about the $400,000 that he did not put on his tax returns -- >> senator grassley and i were simply warning the american pluck that if you vote for joe biden, you're going to end up with a big mess on your hands. and that's, of course, what we're seeing right now. maria: all the good news fueled a big rally on wall street this week. of course, talking about the covid vaccine as well as hopes that congress will agree on a $900 billion relief package sent a number of the major indices into record-setting territory.
the nasdaq up better than 40% in 2020, really record-setting levels here. joining us right now to talk more about that is kevin simpson, capital the wealth planning founder. he joins us now. you've been bullish on this market, you're bullish headed into the new year. tell us how you are putting money to work right now. >> thanks for having me. it seems like we got a santa claus rally a little early this year on what wonderful things have happened. wall street certainlies has put covid-19 in its rearview mirror, and i think the problem isn't a wall street problem, we still have a little bit of a main street problem. with need to bridge this gap for the next couple months, and then i think that the stock market can flourish again, and we're tremendously optimistic for the second half of 2021. maria: you're saying you want a covid relief package so that main street can feel confident in terms of people's ability to
pay their rent and get by. a lot of people are hurting. what does that mean for your expectation for overall growth? you still have the atlanta federal reserve saying 11.1% gdp is expected in the fourth quarter, kevin. >> yeah, i mean, it's fantastic. you look back and you think about this disconnect between the stock market, wall street and the economy, and we've never seen anything more pronounced than we did in 2020. we've got every reason to be the enthusiastic about growth, but we have to recognize that so much of it weighs on the should ers of the consider, and we've got the winter months, the vaccine's on the way, but it's not quite here yet. one more round of stimulus, i think, can just bridge that gap for main street, for the consumer and-us get to that high, high water mark that we can see moving forward. bullish intermediate term, and long term a little bit skeptical, a little nervous about the volatility here short term. but certainly to your point, maria, gdp should be continuing
to escalate. maria: yeah. you say the vaccine's not here yet, it's here for some. we saw vice president mike pence get vaccinated on friday, take the shot along with his wife, others as well. the vaccine is here, and alex azar last week on this program told us we're going to see 20 million vaccinations given this year alone by the end of the year. ken, i mentioned -- kevin, i mentioned the nasdaq up 40 plus percent in 2020. is this where you still want to be putting money, in some of these growth names, technology that have the obviously been the winners all year, or do you think that the valuation withs have become concerning? >> you know, i wouldn't use the word concerning, but i would say elevated, maybe a little bit frothy. we're focusing a little bit more attention in 2021 maybe not with the pure hard core value names, but definitely looking a little bit at the traditional quality
dividend growers. we're here in the christmas season, i think if you look at just retailers, for example, we like amazon, walmart, home depot if, lowe's, target, all of these stocks were doing incredibly well heading into the pandemic. they've adjusted to online sales, they've flourished through the shutdown, and i think they'll continue to do well when we reopen this economy and return to normal. maria: how much of your expectations for the market is reclient on the republicans keeping the majority in the senate, that january 5th runoff race in georgia will dictate what policy looks like and whether or not joe biden is going to be able to get through $4.3 trillion in tax increases which will include a 44% capital gains tax. >> i don't think there's a bigger unknown out there. january 5th is going to be the telltale for the next two years, and what happens will really set the course for how we're going to position portfolios.
i think it's clear to say that wall street purchases a little bit of gridlock. if we see a blue wave, that's definitely going to have a very negative effect on certain sectors, and we're going to have to readjust accordingly. maria: we will leave it there. kevin, thanks so much, great to have you this weekend. >> thanks, maria. merry christmas. maria: kevin simpson joining us. we are talk about the ongoing china threat with jonathan ward, we'll get his take on bob iger on whether or not he will become the next ambassador to china. back in a moment, stay with us. ♪ ♪ [ thunder rumbles ] [ engine rumbling ] ♪ [ beeping ]
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these are companies that are tied to the people's liberation army. smith is the largest semiconductor manufacturer in china and a very, very big company at that. maria: welcome back. that was commerce secretary wilbur ross discussing the develop going threat from china with espionage and intellectual property theft. this week he told me the department will add 80 companies to its blacklist, the entity list for national security reasons. of course, those companies are chinese, and they are dued to the chinese military -- tied to the chinese military and the communist party. joining me now is the founder of the atlas organization, he's the author of "china's vision of victory," jonathan ward joining us brought now. jonathan, great to have you, thanks very much for joining us. let me can you about the commerce department adding these companies to the blacklist and
the implications of this. we know that president trump has already put an executive order in place banning investors from investing in companies that are tied to the chinese communist party. as a result, the msci index, the ft100 has dropped those chinese companies from those indexes. >> right. it's a very important move and, you know, overall all the fact that the u.s. government has put chinese companies into the crosshairs, this is uncredibly important because the state-owned and state-backed enterprises in china are the primary instruments of chinese foreign policy, it's their companies that are building -- or built the islands in the south china sea. those are now on the blacklist. they're big military contractors building systems designed to kill american soldiers and sailors in the pacific. and at the end of the day, we can't be investing in them. state department reports show
something like avic, which is china's military aerospace giant, the bottom line is all of this investment is going into the chinese military industrial complex, and china's leaders talk on a regular basis about preparing to fight and one wars including against the united states of america. so we can't be doing this. it makes no sense. it's important that commerce and state are stepping up to this, and then the question is you know how treasury begins to deal with this as well. and treasury's probably the most important agency for an economic competition or financial decoupling situation. maria: and there was an article in the journal on friday talking about this push and pull, this fight going on where the state department wants to be hawkish on china, but the treasury and treasury secretary steven mnuchin that's trying to water down the president's executive order, maybe say don't include subsidiaries of these chinese companies, don't include companies that are u.s.-based. what's your thought?
>> well, i think the subsidiaries are important. you're talking about this is how, you know, these soes, state-backed enterprise ifs are raising money and or noting around the globe. we're going to have to be as strict as possible in anything that is involved in chinese military fusion, anything that is involved in building -- we have these very powerful economic sanction tools that really should be used now. we should not have been allowing all of this to grow and raise money over the, you know, past decade, but we have. it's time to push back and cut back while welcome. maria: you were the first person to bring up civil military fusion on this program, on "sunday morning futures" with me. walk our audience through what is civil military fusion and why they need to understand the china threat to america. >> sure. so civil military fusion basically this, you know, idea at the center of the chinese military modernization.
it says that anything that happens in china's civilian economy, all the innovation, strategic industries, all the emerging technologies that are being built in chinese companies, all of this can be brought to the chinese military so that they can close the gap with the united states, build a modern military that can beat us in a war. and they're using their civilian industry to do that. and at the end of the day, you know, what china's really trying to do here is, of course, to replace us, to become the dominant superpower in the world system, the entire with government apparatus organized towards that objective, and they have many underlying strategies. and, you know, this is going to be the toughest, biggest contest since the cold war with. we're already in it, it's already started, and the problem is that we're funding it still through wall street, and our companies are still engaged in ways that are going to present enormous rusks for them if they don't start to get a more serious understanding of the national security problems. maria: you've got major banks gearing up to own their own
securities firm in china, jpmorgan, ubs is already there, goldman sachs all want a piece of the 1.4 billion-person population in china so they can sell everything from checking accounts to credit credit cards to this massive population. now we learn that the former so owe of disney, bob iger, is being considered as the next ambassador to china. what would that say to the world, what message do you think that says about how joe biden will deal with china? we know that disney has a theme park in shanghai, it has a theme park in hong kong. they've had to go along with what the ccp told them to do if they want to operate in china. >> well, it's funny, i just sent bob iger a copy of the book, actually. i hope he'll look at that. and in any case, i think it would be at the point that it wouldn't go through. disney had a major scandal this year with mulan where they yanked the public security bureau in china, the place that's operating the concentration camps where you
have a million people in concentration camps in shin jang, and, of course, that became part of the movie is and in the critics they thanked them. i think that would be a problem for a biden administration that would want to go further on the human rights diplomacy, you know, towards china and bring allies onboard. so it doesn't strike me as a wise appointment. maria: jonathan, you been so far ahead on all of this, thanks very much. we'll see you soon. jonathan ward is joining us. stay with me, my one-on-one with the cleveland clinic ceo is next on the massive covid vaccine rollout and its impact. back in a moment. ♪ ♪
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♪ maria: welcome back. well, it has been an historic week in the battle against covid-19. president trump announcing on friday that the moderna vaccine has been approved for immediate distribution and emergency use. this comes, of course, as millions of doses of fuser's -- pfizer's vaccine are making their way to hospitals and locations nationwide. friday vice president mike pence received his vaccine shot on national television to prove that it's safe and effective for use. one of the facilities receiving the vaccine is the world famous cleveland clinic. i spoke with the clinic's ceo, dr. tom mihaljevic about how they're preparing for distribution. watch. >> it's absolutely remarkable that we are receiving the vaccine within a year from when the pandemic started here in the united states. this is a new type of a vaccine. this vaccine does not contain an actual virus. it, rather, contains a message, we call it a message, messenger
rna, that helps inform our bodies to create a protein. and that protein, which is innocent, it's found on the surface of the virus, triggers the immune reaction of our own body. so if we were to get in contact with a covid-19 virus, those antibodies protect us from getting sick. maria: so the cleveland clinic is getting its first shipments of this vaccine today, vaccinations beginning tomorrow. how are you preparing for the distribution? are you going to be getting advantage is city i nateed soon as well? >> i will not get vaccinated immediately. we're preparing for the vaccination, but the priority for the first wave of vaccines -- because we will be receiving today -- are going to be our caregivers who are working on the front lineses, our physicians, nurses, respiratory therapy itselfs, environmental workers who work in an intensive cower unit and -- care unit and the floors where with our covid patients
are being cowered for. maria: the u.k. discovered a new strand of coronavirus in southern england. officials are saying there's nothing to show it will cause a more serious disease, but analysis suggesting it's a new variant. it's growing faster than existing variants. what can you until us about this new strand and whether it impacts the effectiveness of the pfizer vaccine? >> maria with, it is really too early to tell. a new coronavirus is a common to current. fortunately, they typically involve into less virulent, meaning less dangerous. right now it's too early to tell how is this going to have, if at all, affect the efficacy of the vaccine. maria: doctor my hall slip, i was at the cleveland clinic a couple of years ago with your preds successor, and i was really just taken aback but all the technology that you have, the robotics that you are using. tell us about the innovation
that you are doing at the cleveland clinic and in health care in general. you know, another issue around this coronavirus is the fact that people didn't do regular which can-ups, mammograms -- check-ups, mammograms, heart disease check-ups. i wonder if that has put us at a disadvantage now in certain cases. >> yeah, the deferment of care that happened during the covid-19 pandemic is a serious issue. we are only going to find out in the future how serious that issue actually is, but we are very concerned about it. here at the cleveland clinic, we've put a lot of effort to reach out to our patients and remind them that covid-19 pandemic has not stopped the need for regular check-ups. and this is particularly important for those who have to go through the regular screening and check-ups for cancer. because the best way to treat cancerfectively is a timely diagnose know us. so i would really appeal to all
of your viewers to make sure they see their physicians regularly, in particular when it comes to cancer screening. maria: and what about that growth in ininnovation at the cleveland clinic. tell us about it. >> it's really gone into high gear with the covid-19 pandemic. we have published hundreds of articles and received very generous support for the ongoing research. we are just finding, we have just found a new center, center for global and emerging pathogens. the center that will study the existing viruses but also prepare us to respond to the next pandemic which will inevitably come. maria: my thanks to dr. tom my hall slip, cleveland clubbic ceo. don't go anywhere, more "wall street" right after this. ♪ ♪
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maria: welcome back. coming up next weekend on this program, don't miss it, 9 p.m. eastern friday night, we've got a big show coming up. joseph smith is here to talk about the effort to save the restaurant industry and why we keep seeing more lockdowns for the industry. plus, i'll see you on fox news this sunday morning, "sunday morning futures requests live at 10 eastern. my special guests this weekend, catch the show live 10 a.m. eastern sunday morning on fox news. and right here on fox business,
tune in weekdays from 6-9 a.m. eastern for "mornings with maria." i hope you'll join us weekdays to set the tone for the day, that's right here on fox business. that'll do it for us for this weekend. i hope you have a great rest of the weekend. i'll see you next time. ♪ ♪ gerry: welcome "the wall street journal at large." the washington establishment, very well educated, self-appointed and comfortably such rated policy making aristocracy, joe biden's return to the white house is a glorious restoration. you could probably here the sighs of relief and warm murmurs of self-congratulations rising from k street corner offices at the prospect of reassumption of business as usual, they hope, on january 20th. for them, the last four years have been
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