tv Mornings With Maria Bartiromo FOX Business October 28, 2021 6:00am-9:00am EDT
- is everybody ready? - okay. - anchor on. - here she goes. - [narrator] before time runs out. - [tad] it's just pulling me forward. well that's not good. - i don't think ole wants us to discover his gold. - maybe he just wants us to work for it. maria: good thursday morning, everyone. thanks so much for joining us. i'm maria bartiromo. it is thursday, october 28. your top stories, 6:00 a.m. on the east coast. desperation in washington, as the clock is ticking on the democrats' spending deal. president biden now delaying his takeoff to europe today in order to twist some arms on capitol hill to a agree on a nearly $2 trillion spending bill. this as democrats are forced to down size the size and scope of the massive bill, removing a cornerstone of the plan that's paid family leave from inclusion, also the
billionaire's tax called unconstitutional by sceptics. we're watching the economic impact all morning long. markets are fractionally higher on the session, we're looking for a firmer tone at the start of trading this morning as we await important economic data, the dow industrials up 2 ', s&p 5 up 7 and three quarters. we're standing by for the first read of the third quarter gdp out today at 8:30 a.m. eastern. that's the number the atlanta fed took all the way down from 6% down to up half a percent. we'll get the numbers in two and-a-half hours. all three major indices finished at session lows yesterday. it was due to a late day selloff as investors juggled upbeat earnings with inflation concerns and worries about a he slowdown in t growth. the dow was down 266 points at the close, nasdaq was higher, squeaking out a fraction also move up, s&p 500 finished down 23 at 4:00 on wall street. european markets are lower. the head of the ecb meeting
today, that will give us a sense of macro story in europe. the cac is up 22, dax lower by 10 in europe. if in asia overnight red across the board, take a look at the asian indiceses with the worst performer being china, shanghai composite down 1 and a quarter percent. "mornings with maria" is live right now. ♪ don't believe me, just watch. ♪ don't believe me, just watch. ♪ maria: now some of the top stories we are watching this morning. turning up the heat on facebook, the federal trade commission rey looking into whether or not facebook research documents he show and a prove it violated a 2019 settlement over privacy concerns. the company paying a record $5 billion penalty, internal research found evidence that facebook knew its platforms were harmful to teenagers and helped
spread hate, despite the social media giant hoping to he rebrand the name of the company, they think that will help shrug off the widespread backlash and a pr nightmare that has only grown worse in recent weeks. ceo mark zuckerberg is expected to announce the new name today. he is unveiling new details about the upcoming meta verse of facebook. the virginia gubernatorial race in the final stretch, election day this upcoming tuesday. terry mcauliffe bringing president biden and president obama to rally support. it seems republican glenn youngkin is pulling out the big guns, president trump releasing a statement wednesday, writing, quote, chanting we love trump in arlington, virginia. thank you, arlington. see you soon. mcauliffe responded. watch. >> seems like donald trump has just confirmed he will come to virginia for glenn youngkin.
i would like to see the crowd he gets compared to what i had for joe biden. maria: mcauliffe bragged by crowd size. pictures and videos appeared to show tiny crowds at mcauliffe rallies. glenn youngkin said he has momentum on his side. they are polling neck and neck going into the home stretch. this is one that is worrying the democrats. republican lawmakers holding attorney general merrick garland's feet to the fire over the troubling you attempts to target parents. tom cotton calling for him to step down. >> this is shameful. this testimony, your directive, your performance is shameful. thank god you are not on the supreme court. you should resign in disgrace as a judge. maria: garland he refused to back down many he maintains his memo did not target parents for
speaking out against mask mandates and critical race theories in schools. garland releasing the memo in response to a school board's letter that compared angry parents at school board meetings to he domestic terrorists and the fbi would come after them. the nsba has apologized for the letter but garland said the fbi would investigate any signs of he domestic terrorism. markets are fractionally higher this morning ahead of the economic data on tap. we are looking at gains on the dow industrials, about 28, s&p up 8, nasdaq up 65 right now. we're waiting for the gdp data out at 8:30 a.m. eastern, that's the first look at the third quarter. joining me right now is morgan creek capital management ceo, mark yusko this morning. also joining the conversation all morning long is strategic wealth partners president and ceo, mark tepper and political analyst gianno caldwell. thank you for being here. mark, welcome back to the program. great to catch up with. first let me get your take on
the macro story. we're getting the gdp out. does it feel like the third quarter slowed down considerable hey to you in terms of what we're seeing on the macro story. the atlanta fed took expectations all the way down. we'll get the number at 8:30 a.m. >> thanks for having me this morning. i think the gdp growth slowed quite dramatically. don't know if it will be all the way down to the 0.5 that the atlanta fed has us at but you can see it when you're out and about, things are definitely slower and i think that bodes probably not so good for or not so well for stock prices over the next couple months. maria: got a fed meeting next week, mark, as you know, and we're also expecting president biden's federal reserve nominations over the next couple days. a big debate out there, the progressives want to take down jay powell and put a more progressive in there. do you expect powell to get renominated? and this of course just days
away from the beginning of the taper plan. >> yeah, you know, i think it's really interesting, maria, in the sense that how could you have anybody who is more progressive in terms of who wants to spend and give injections of qe. i think all the talk of day r -- tapering and reduction of bond buying is just that. i think it's talk. i think we'll be in qe literally forever, i think we'll be in low interest rates for a very long time. we have challenges with working age population growth and productivity. and basically the only thing that's keeping us aafloat right now is stimulus, both monetary and fiscal. the fiscal stimulus doesn't look like it will be as people hoped so i think the monetary stimulus has got to be here. he was jerome the hawk when he came in. then he went to jay the dove and now he's kind of just the letter j pushing out super hits of qe everywhere. maria: but wouldn't it even be
more stimulative with someone like a lyle brainerd in there. >> she may be more loose with the purse strings. that's a great point. i think he probably survives here. he's done a good job by the measures of those who put him in there. i think monetary policy is far too stimulative. i think the weakness in the dollar is troubling. in the recent months the yen and the euro, talk about people printing money, the ecb and boj have gone absolutely vertical. so those currencies are falling faster. and you can see it most aacutely in the price of oil and the price of bitcoin. those assets that are stored as value are surging. maria: and you've been so right on bitcoin, for sure. let me get your take on big tech
as well as bitcoin, actually. we've got some big names coming out tonight at the close, amazon and apple reporting their quarterly numbers. how are you feeling about the valuation here versus the profit growth potential? >> again, perfect question. so, look, these are great companies in great industries. the challenge is valuation across all of technology. you've got companies now in the trillion dollar club that are trading at 30, 40, 50, 60, 70 times revenues. forget earnings. so some of these companies out there are really, really over-valued. i won't point any fingers at certain car companies but i look at apple. apple's a great company. but they only have 19% market share he globally. android is far bigger around the world. i think it's pretty acutely over-valued at these levels
given its growth rate, not growing that fast and trading at a big multiple. amazon is interesting, clearly growing still very quickly but if you look at the stock price, it's been kind of dead money all year. so maybe it just surged a little too much in the past year and so i don't expect much fireworks from both of he those, although given lockdowns, people are spending on consumer goods and using the internet a lot. maria: yeah. i'm surprised we haven't heard any supply shortages or disruptions as relates to amazon. we're seeing it everywhere else. mark, real quick before you go, would you put new money to work here at bitcoin? >> oh, yeah. the way to own bitcoin is to buy a little every week, every month. the daily price doesn't matter, maria. what matters is owning a piece of this network. had this is the most powerful,
most secure computing platform the world has ever seen. you want to own a piece of that. you want to get off zero. most people have zero exposure but don't buy it all at once. buy it over time. i would buy it today, i'd buy it tomorrow, i'd buy it next week, buy it next month. put some in your kid's christmas stocking. maria: you were telling us way lower levels a long time ago. you were spot on with that. what a call. thank you for weighing in on all of that. >> thanks, maria. always great to be with you in the morning. thank you. maria: and to you. your morning mover this morning is ford. jumping 10%, you usually don't see this kind of a move in an you automaker like this. ford motor up 9 and two-thirds percent. it's bringing back its dividends, profits declining from a year ago as the chip shortage hurt dealer production. the company is bringing back the
dividend and sending the stock higher, pushing shareholders into the stock once again. $17.01 a share on ford. we're getting started this morning, coming up down to the wire, president biden delays his trip to europe as he loses a cornerstone of his economic agenda, democrats who don't want to overspend america's tax dollars. the problem china, retired general weighing in on general milley's blind sidedness on hyper sonic missiles. insta stars week rolling on, today's entrepreneur uses social media as a tool to get stunning properties sold online. don't miss a moment of it. you're watching "mornings with maria" live on fox business. we'll be right back.
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maria: welcome back. president biden delaying takeoff to europe today in order to twist some arms on capitol hill to agree to that nearly $2 trillion spending bill. the decision comes as democrats cut key provisions from the bill, such as paid family leave, medical leave, in order to reach a deal with moderates who do not want to overspend. progressives are still threatening to pull support for a watered down version and they will not agree to an infrastructure package until had they have a solid deal for reconciliation. gianna caldwell and mark tepper are with us this morning. will president biden's presence do anything to bring the democrats closer to a deal today? it's all also ticks. he wants--it's all optics. your thoughts? >> well, i don't think that this president has done much to have much of any success, anything
legislatively, since he began in office as be president. the truth of the matter is, uncle joe as they call him -- i call him uncle fraud because he made a number of allegations as to what he was going to do while he campaigned. he hasn't done it. he's lied multiple times as president. his press secretary continues to lie. his poll numbers are falling. he's losing independents left and right, democrat as well, and we have a man in office who can't govern and put together a coalition. progressives, as they said they would, credit, as they said they would when he was running, they would push him as far to the left as they possibly could. that's what we've been seeing. thank god for senator joe manchin and senator sinema for holding the line on this. i don't know how much success he may actually get but the way things are looking, it's not looking that great for joe biden or the democratic caucus. maria: yeah. the lies are just over-the-top, you're right about that, i
totally you agree. mark, what's your take? we keep hearing comments like we're close, we're going to have this framework, we're going to have this agreement, when you go to the sticking points, they're not close on any of the sticking points. they want to say they're close to make the american people think there's real common conversation and yet there's an incredible amount of division here. >> yeah. and all the issue really relates to the progressives. and it's kind of interesting, because even the moderate democrats are growing sick and tired of all the aoc party's an particulars. and look, as far as joe biden goes, as far as the left, the democrats, their political capital, it's fading right now. and this self-imposed deadline before i go to europe for a climate summit, it has nothing to do with the climate summit. biden's applying the full court press right now because he knows his political capital could be
virtually nonexistent in a week. wait until the off-year elections next week. there's so much focus on who wins, right? in my opinion, it's really not who wins that matters. this is a litmus test for the entire nation. it's really the best crystal ball we have into what happens in the 2022 midterms and it's all about the shift in votes. virginia's a state that biden won by i believe 10 points in 2020. maria: yeah. >> if all of a sudden we have the dems win by 2% or 3%, even if they still win, that's a seismic shift that's going to translate throughout the rest of the country in 2022 and the democrats are going to have even less leverage to get a deal done. maria: yeah. you wonder if virgos the wrong way for the democrats, does that kill future legislative dreams of this administration? it's a great point and it is certainly a debate right now and they are worried about virginia for sure, because glenn youngkin
is doing so well. we'll slip in a short praying. when we come back we're looking at trump's truth social, it is gaining steam, the numbers showing how many people plan to sign up for this new social media platform that president trump is creating. then buzz light year's new voice, the new light year movie's actor swap has many wondering if politics came into play. we'll tell you about it, because it is the hot topic buzz of the morning, next. (sfx: video game vehicle noises, horns beeping,) (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon.
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canceled from twitter and facebook earlier this year. joining me now is the federalist senior editor. christopher bedford is here. chris, great to see you. tell me about your company, rightforge.com. forge.com you'll b host trump's social platform. >> we're in an interesting time in technology. all this exists. we know how to make social media platforms. for some reasons the companies that dominated the internet, the amazons, googles, apples, twitters, the facebooks, they decided they don't want the business of half of this country, whether you're a christian, conservative, republican, or someone like again gruenwald or elon musk or a doctor that has a problem with different things coming out from fauci, then you're going to be censored. they don't want your business.
rightforge is a bunch of silicon valley guys who got together after parler was deplatformed, after the president was deplatformed and said no more. apparently we need a second internet, a second infrastructure. that means basically the roads and the ground that the internet's built on, when they took down parler they ripped down -- amazon web services ripped down their services, the ground that parler was built on. rightforge has several all over the world and we're trying to get those back online. maria: this is such an enormous opportunity. congratulations to you. i don't agree that it's this idea that they don't want people's business. i think they just want their voices shut down. they don't want to hear an opposing view to the fair of testify that they have decided -- narrative they decided the way the country should be governed and what's truth and not truth. let's face it, they censored the hunter biden laptop story, which
was a real story, a real picture of corruption weeks before the election. they did the same thing on covid origins and the fact that the covid-19 pandemic started after leaking out of a lab, all of the circumstantial evidence pointed there and yet social media decided no, no, we're not going to say that story. but that's why you see people like nba player ennis can tore and you have -- cantor and you have to give him so much credit. he's calling out nike over forced labor in china. look at the tweet, to the owner of nike, how about i book plane tickets for us and we can fly to china together, we can visit the slave labor camps and you can see it with your own eyes. he tagged lebron james and michael jordan, inviting them to join too. he was seen to wear customized
shoes with the words modern day slavery on it and no more excuses written on the sneakers on them. how great is he for calling out what we know to be true, china is a bad actor and the chinese communist party has the uyghurs locked up right now. to call out nike for making speakers there. >> you're exactly -- sneakers there. >> you're right. it shows the evil at the core of a lot of these international companies that are willing on one hand to do business with a country, a godless slave state like china which is an enemy of the united states, undermining our economy, doing so while doing forced labor, slavery camps where there is torture, murder, and execution and they're willing to come back here and say that the president of united states is unable to have a platform or that atlanta should be boycotted because of he election laws. this goes at the heart of they e evil. it's not just nike that is
guilty. there's many corporations and nba stars. it was shameful to see when the nba was shutting down any criticism of china. they're coming to a head on this again. china reacted, banning boston celtics games from being played in china. i hope more team stand up and take this stand. the national basketball association should be an american league that stands for american values. maria: i like the consumers research and educational nonprofit calling out larry fink and blackrock for all of their pushing of esg, telling us what we should invest in. meanwhile, they're knee-deep in china, investing, telling their investors to ramp up their investing in chinese companies by three times, investing in the same companies that are actually helping the ccp to unseat america as the number one super power. they're calling out larry fink, the ceo of blackrock, and its
policies there as well. christopher, it's good to see you this morning. thanks so much. >> thank you. maria: christopher bedford joining us there. we'll be watching. coming up, blind sided by beijing, general milley calling china's hyper sonic test its put sputnik moment. we'll tog about that. -- we'll talk aboutthat stay wi. deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. ♪ ♪
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maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it. is thursday, october 28. take a look at markets this half hour where earnings are coming out fast and furious. futures indicating a gain at the start of trading, dow up 46, s&p 500 up 9 and a quarter and the nasdaq higher by 64 and-a-half. we just got better than expected numbers from merck and we are standing by for first read of third quarter gdp that is out in two hours' time. all three major indices finished at session lows yesterday as
growth worries continue to heighten and worry investors ahead of the federal reserve beginning a tapering program. dow industrials were down 266 points yesterday. nasdaq was up by just a fraction, well off of the highs of the day and the s&p 500 finished down 23. late day selloff as investors juggled upbeat earnings with inflation and growth concerns. european markets this morning are lower, we've got the european central bank meeting today and we will hear from christine lagarde, president of the ecb, at about 8:30, 8:45 on stimulus there. ft 100 down 12, cac in paris is up 30, the dax is lower with the the ft down 23 on the dax. in asia, red across the board, china was the worst performer. shanghai was down 1 and a quarter percent overnight. investigators are saying no one is off the hook yet in the deadly movie set shooting involving actor alec baldwin. cheryl casone with the details now on this developing story.
cheryl. cheryl: that is right, maria. good morning. the sheriff revealing alec baldwin fired a live round during a he rehearsal of the film, rust, which killed the cinematographer. the assistant director admitted to making mistakes. he should have checked for more rounds and he didn't. after the shooting, hall said there were five rounds in the gun, at least four of which had dummy casings. the sheriff said they are looking into reports the crew used the guns for target practice in their off time. well, more than 2,000 immigrants continue to make their way towards the southern border. the caravan pushing past police in mexico after delays in getting asylum papers in southern mexico. as of september, mexico received
more than 90,000 asylum applications. mean while in the u.s., president biden expanding the list of places i.c.e. officers cannot make arrests. the list now includes churches, playgrounds, rec centers, bus stops, social service buildings and schools, among others. well, starbucks baristas are going to get a raise, they will hike the minimum wage at least twice next year. in addition to raising pay, starbucks will also offer $200 referral bonuses and add some in-house recruiters across all u.s. markets. this as restaurants are struggling to find workers. starbucks is fractionally higher in the premarket. and finally this. the world series is now even at one game you apiece. the astros taking advantage of a big second inning to tie the series and win the game, 7-2. astros star hit his 22nd post
season home run. the series is set to resume friday night in atlanta, maria. 8:09 eastern time for game free. atlanta had the all-star game taken away from them. now they have the world series there. interesting take on this whole thing. maria: right. interesting. cheryl, thank you so much. we just got caterpillar which was better than expected. stock is up about 1 and-a-half percent. the chairman of the joint chiefs of staff, general mark milley, calling china's test of hyper sonic missiles very close to a sputnik moment, referring to the launch of the russian satellite in the 1950s. white house press secretary jen psaki reacting to the comments yesterday. >> i've seen of course general milley's comments. what he was conveying was the concern we all have is about china's modernization efforts, increasing tensions in the reason and we continue to have concerns about that i think that was reflected in his comments.
maria: meanwhile, taiwan's president has confirmed a small number of u.s. troops are in taiwan on the island training taiwanese troops saying the threat from beijing is increasing every day. joining me now is retired general, general arnold punero. thank you very much for being here. we so appreciate you and your service to this great country. thank you, sir. >> maria, privileged to be with you this morning. maria: you have written a book, you're the author of the book, the ever-shrinking fighting force. general, i want to ask you about what's happening in terms of the u.s. versus china. you heard what general mark milley said. how do you see this threat from the ccp which makes no secret of the fact that it wants to undermine and replace the united states as the number one super superpower. >> maria, bull's-eye. we should be more than concerned
about the recent development in china with their demonstration of the ability to put a hyper sonic glide missile potentially with a nuclear warhead. it's clearly a game-changer many it's worse than a sputnik moment. sputnik was a benign satellite that demonstrated limited technical ability by the then soviet union. china is on the march, militarily, economically, diplomatically and even scarier techno logically. they're ahead of us in terms of hyper sonic missiles and technologies that are not just important to our military, but important for our economy and our competitive position in the world. quantum, artificial intelligence, i could tick off seven or eight. of them.this development is a ge changer. it could put at risk a lot of investment we made in our own infrastructure, turn those into museum pieces. it's a game changer because it crosses the rubicon of
weaponizing space. trillions of dollars of the u.s. economy depends on our access to space. this is worse than a sputnik moment. there was a book written about the japanese surprise attack at pearl harbor called at dawn we flip and it pointed out all the signs we should have picked up on. you have pointed out, others have pointed out, china is very bold and accurate about what they're saying they're going to do and they're doing it. they quadrupled their military and things like that. we should be very concerned. maria: yeah. well, i have been very concerned for several years now. i'm happy to see now more in the media recognizing this incredible threat. it's unfortunate that the buy ten administration is not recognizing it or certainly not showing that it recognizes it. president biden continues to call china a competitor. it's not a competitor. it's an adversary. we all know that. and even the fact that it's gotten as strong as it has
gotten with its navy being larger than the u.s. navy, much of it is coming to china from theft. they've been stealing our secrets now for decades. and frankly, it's quite rich to see mark milley call this a sputnik moment when it was him who actually called had his counterpart in china and said if anything happens, we'll give you the heads-up first. i mean, you know, why is he calling his counterpart in china and giving them a heads-up on anything the u.s. is doing knowing that they are beating us already and they're about to invade taiwan, if you believe many experts. do you expect an invasion sooner rather than later, sir? >> maria, i think to answer both of your excellent points, number one, i think we have to consider china as an adversary. we also can't play kissy face with countries like china a because of what they said they want to do which is take over the western democracy and be the
dominant power in the world. a lot of administrations talked about the pivot of the pacific. we talk a good game. our structure in the pacific of the u.s. military is roughly the same as it was in the year 2000. and china as you said, their navy is larger than ours, they quadrupled their land based ability on taiwan. i think it's a positive development that we're doing training with taiwan. i think we need to make a clear statement that if china moves on taiwan, we're going to defend them. let's get around the ambiguity because it sends a signal to the rest of the world. china needs to understand hyper sonic missiles, we're going to match them, we're going to deter them. we need to do more. we should do more training with taiwan. we should train in the air and the sea. we should send a signal that we're there for them. maria: i would love to see them. as you know, general, we're only
getting ambiguity from this white house. jen psaki refused to actually say that the u.s. would back taiwan in such a situation. she said policy hasn't changed and that policy as you correctly note is just that the u.s. would arm taiwan, not necessarily protect it from an invasion. but i don't understand why it's been so difficult for this administration to come up with some serious policy against china being this bad actor. we just roll over when it comes to huawei. we just sent the cfo back to china, she was under house arrest in canada and then of course there's all these policy mistakes in afghanistan. what's your take here? because senior pentagon officials are saying that the islamic state in afghanistan could have the capability to attack the united states in six months and is intending to do so. all that as al-qaida could potentially have similar capabilities in one to two years, general. we know this week the taliban met with the ccp. so you've got the ccp, china
backing the taliban. they want those rare earth minerals in afghanistan. and you've got, you know, the botched withdrawal where americans are still there in afghanistan. >> maria, we've learned the hard way that these terrorist organizations constitute themselves and rebuilt their capabilities faster than we predicted. they're going to build their capability faster than they're predicting right now. number two, the over-the-horizon capability is no substitute for boots on the ground. we should have covid actions going on in pakistan. pakistan is supporting the taliban. tear going to support the rebuild-up of the terrorist organizations even as they claim they want to be helpful to the united states. we should be very worried about this and do what we need to do to basically preempt any basic
terrorist activity against our country. but we should not be looking at this through rose colored glasses anymore. maria: you would think so, right, general? unfortunately, there's not a dime of an increase in defense spending in biden's budget. they just had a hearing yesterday and the democrats had all of the intelligence executives, the officials in to testify in a public hearing and the democrats asked them about diversity. if not for the republicans, they wouldn't even have talked about china. general, it's good to see you. we so appreciate your time and please know that we will keep a spotlight on all of this, sir. thank you for your service to this great country. we'll be right back with the insta stars week rolling on. today's entrepreneur wants to sell you a stunning property all with a click of a button, next.
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analyst angela zino. good to see you. thank you very much for being here. tell us what you want to take away, what you're going to be focused on mostly when apple reports tonight. >> thank you for having me. so as far as the quarter is concerned we do expect a beat overall and i think the street is kind of leaning there as well. the key is going to be what the guidance is going to look like for the december quarter ass is usually the case. our view here is, you know, we're looking for some decent gains on the iphone side of things but of course the supply constraints will be center stage here. apple has done a great job here thus far amid kind of a post-pandemic world to kind of navigate through that storm but it could catch up to them here in the december quarter, given the demand levels that we're seeing for the iphone. so i think that's going to be key. the other side of things i'd say is we continue to have a buy because of the wearables and services business. we think the growth there continues to be north of 20% and
that should be enough to keep investors out there happy. maria: what's the story on getting your hands on the apple iphone 12 or 13 right now? i mean, the chip crunch, the supply chain crisis has become evident in many of the week's earnings reports, cutting into ford and general motors profits. samsung warned it cannot predict financial results for 2022 given me uncertainties. have people been able to get their hands on these phones or are there big delays? >> i mean, the lead times are definitely extending here. at least at the higher price devices, as one would expect. those have in recent years been the more popular devices, specifically in areas like china and the u.s. so as far as some of the higher price devices are concerned, much more difficult to get your hands on them. you're waiting several weeks, depending on the configuration you're looking at to get that device. so. maria: that's what i figured.
i've got your report in my hands right here. i can't believe the cash position, you highlight apple's cash position, net cash, $72 billion. wow. what are they going to do with that money? >> continue to buy back shares in our view. this isn't a company that's going to spend on m&a. their biggest acquisition continues to be that of beats years ago at $3 billion. so we think they continue to buy back 15 to $20 billion on average on a quarterly basis on their shares until they get to the that net cash neutral position. maria: all right. we'll be watching the numbers and we appreciate you joining me this morning. thank you. stock up half a percent right now. going to slip in a short break, then buzz light year's new voice, the new actor swaps has many wondering if politics came into play. it's the hot topic buzz of the morning and it's next.
when you're driving a lincoln, stress seems to evaporate into thin air. which leaves us to wonder, where does it go? does it get tangled up in knots? or fall victim to gravity? or maybe it winds up somewhere over the bermuda triangle. perhaps you'll come up with your own theory of where the stress goes. behind the wheel of a lincoln is a mighty fine place to start.
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join for free on the xfinity app. our thanks your rewards. maria: welcome back. time for the hot topic buzz. literally. buzz lightyear getting a new film and a new voice. actor chris evans is voicing buzz in lightyear. tim allen voiced the space explorer in the original movies. you'll remember this eye p iconc line. >> to infinity and beyond! maria: [laughter] maria: yes, fans are wondering if his conservative politics had something to do with him being replaced. mark, what are your thoughts? >> well, look, i think politics plays a role in almost every controversial decision nowadays because, look, it's 100% okay to wear a dress that says tax the rich but god forbid you wear one
that says get off your couch and get a job. you would get canceled immediately. in this situation, i don't think this one is politically motivated. i guess chris evans is voicing the actual buzz lightyear, like the real life person that the toy that tim allen voiced was actually based off of. so i guess it would be kind of weird if the real person and the toy had the same exact voice. so, you know, at that point people would wonder how the human version got stuck inside a toy. i see the logic. i don't think this one is political. maria: yeah. it's too bad we even have to question that gianno. >> well, i don't know if it's not political. i grew up watching toy story and as a kid can i watched it multiple times over and over and was we see now in hollywood especially when it comes to children's shows, they put up lgbt couples, talk about transgender issues when it comes to kids' cartoons but there's no ability to talk about politics or be a conservative which is
really interesting to me. it's very disappointing. but that's what we've been seeing from hollywood. so it's not surprising. maria: yeah. well, that's the issue and when you see something like this, you know how people get canceled as you say, mark, if they wear make america great hat, forget it. we'll take a break. when we come back, there is a special dedication at fox news to rupert murdoch. we introduce you to studio m, honoring the fox news founder. it all starts next hour. "mornings with maria" live on fox business. wait until you see the studio. back in a minute.
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it even tracks your circadian rhythm, so you know when you're at your best. in other words, it's the most energy-building, wellness-boosting, parent-powering, proven quality night's sleep we've ever made. and now, save up to $1,000 on select sleep number 360 smart beds and adjustable bases. only for a limited time. to learn more, go to sleepnumber.com. maria: welcome back, good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo and it is thursday october 21st, your top stories right now 7:00 a.m. on the button on the east coast. bring on the bells and whistles, president biden headed to capitol hill for reconciliation
framework and no details on whether that equates to any vote on this package. markets are higher, gain at the start of trading, dow industrials up 90 points, s&p 500 higher by 14 and the nasdaq higher by 85. we are standing by for important economic data. we will get the first read on third-quarter gdp out at 8:30 a.m. eastern this morning in an hour and a half. all three major indices finished near session lows yesterday due to worries over growth. there was a late-day selloff as investors juggled with upbeat earnings and economic concerns. dow industrials down 266. nasdaq with gain a fraction and s&p down 23. european markets are mixed. we are waiting on comments from the european central bank. the cac in paris is up 30 and dax is lower by 16 and in asia overnight, red across the board. china was the worst performer, shanghai composite down 1 and a
quarter per. mornings with maria live right now. now top stories that we are watching this morning. turning up the heat on facebook. federal trade commission is now looking into whether facebook researched documents proved that it violated a 2019 settle rent over privacy concerns. the company paying a record 5 million-dollar penalty and evidence that facebook knew its platform was harmful to teenagers and helped spread hate and the social media giant hoping to rebrand and pr nightmare that's only grown work in recent weeks. ceo mark zuckerberg expected to add a new name as he unveils name of metaverse. the virginia gubernatorial race.
terry mcauliffe bringing president biden and president obama to rally support and globe youngkin bringing big guns and president trump releasing statement, chanting, we love trump in arlington, virginia. thank you, arlington, see you soon. mcauliffe responded, watch. >> seems like donald trump has just confirmed he will be coming to virginia for green youngkin and -- glen youngkin and i would like to see the crowds size. pictures and videos appear to show tinny groups at his rallies. all this as contender glen youngkin is saying that he's got the momentum on his side as the two are polling neck and neck going into the home stretch. well, a cheap generically antidepressant reduces covid hospitalization according to new trial out of brazil. researching -- researchers
started looking into the drug height of the pandemic because it's known to reduce inflammation and sold under the brand name lubox, 10-day course of this bill will cost about $4. a lot to look at on the word on wall street. strategic wealth partner president mark tepper and private wealth adviser ali mccartney and founding partner mitch roschelle. great to see everybody this morning. thank you so much for being here. mark, let's get into it. the at will nota federal reserve downgrading expectation for third-quarter gdp now to two tenths of a percent. remember, they were all the way up to 10% growth for the third quarter and they went to 6% growth and then half percent growth. atlanta fed now at two tenths of a percent growth for the gdp for the third quarter. we will get the number at 10:00 a.m. eastern. amazon set to report after the
close. what are you looking at in terms of the impact on stocks and your investing? >> yeah, maria, so obviously growth is slowing, right, we are seeing that with the potential gdp read and i'm a bit concerned about the health of the market in response to this. if you think about it, operating margins have been strong. they've continued to go up even though companies are seeing rise in cost and that's because sales growth has been able to outface all of the cost increases, but with gdp slowing and supply chain issues affects nearly every single company i'd expect sales growth to start to slow so at some point operating margins are going to contract and that's historically when you see selloff. the best metrics is the next 12-month operating and when you see come down that's when you see pullbacks. companies are coming in much
better than expected. i think we are seeing 36% year over year growth. we are at halfway point but the goings from tech companies is -- look at snapchat from maybe a week ago, look at twitter. the narrative around tech companies is one no one would expect this. most investors believe that the tech companies will be insulated from supply chain issues but their customers who are impacted by supply chain issues are scaling back their ad spend. so that's how it's impacting the tech companies. so even though engagement remains high with a lot of the tech companies, social media companies, their customers are tightening up the pursestrings again. that's something that we have to keep an eye on as well. maria: yeah, all great points. ali, let's talk about oil, the top story in the journal today is how activist investors are trying to get royal dutch shell oil to not pursue like exxon
mobile. oil in the spotlight today. oil executives facing a hearing this morning. big stake in shell worth more than $500 million and now urging the oil giant to separate into two companies. look at where the oil shell down is 4%. oil plunging to two-week low. oil felt pretty expensive but isn't it extraordinary to see what's going on with oil companies, ali, last week you had exxon mobile talking about canceling the projects that it's bread and butter because of pressure from activist investors so pretty much not pursue their business, your reaction to all of that? >> it's definitely the story of the week post-pandemic and a lot of tail winds, maria. if you think about it, oil
demands as we come out of this pandemic and as everything that mark just talked about in terms of demand for services and good picking is up 5% from pre-pandemic levels. supply hasn't caught up. so when you think about the tampering growth in the country, it's oil in terms of opening and economic activity and it's sort of very similar akin to the new oil or semiconductors and both of those are limiting output. now the same with oil that you just mentioned, if you have the long-term secular issues which are being pointed out, the u.s. is building inventories but the rest of the world is in a supply glut, demand glut and really supply constraint. i expect that you continue to see volatility not only in the price of oil but in the supply, consumption, there's no reason it won't continue to go up as we get more airplanes, as we get more airlines. my husband is australian,
australia is about to open up. they are trying to get pilots and planes back on so the oil demand is only going to go north and they are trying to figure out how to get more oil out there. and the interesting issue that we have from a secular perspective and environmental perspective, we have gone so far, the pendulum has flown so hard the other way, what are we going to do now between now and energy carbon neutral dates which are a lot in the future which is why i would buy oil. maria: we will see what happens at the meetings. so they'll be on the hot seat ceo's that are testifying today. gate point, ali, mitch, the chip
crunch that we have to hit on. supply issues cutting into general motors, ford, we will talk about this crisis even a year from today, tell me how you see this playing out? mitch: literally the way i look at supply chain it's literally a chain and chips are one of the stories. but if you think about it, we have a truck driver shortage, we have a labor shortage for assembly. we have the chip and chasse child supportage and containers in different parts of the world. i don't see this getting fixed any time soon. i don't think the administration has their eye on the ball. organized labor has made this very, very complicated and it's going to take a long time to sort it out. the other thing is all of the companies around the world with chip manufacturers specifically have operated just in time inventory model for so long that when you shut down a plant for 6 weeks or six months, some place getting back up and filling the
parts is very difficult and pivoting back to cars. i remember you and i talking about this year ago when we talked about border adjustment tax back and forth around the world are parts that go into cars so even a supplier that has to delivery seats, there are 11 different components in car seats and if you can't get the foam, you can't have a car because you can't get the seats, i don't see this being solved any time soon and it's going to take a lot of cooperation between the private sector and the public sector and labor unions in the country to sort it all out. maria: yeah, big enough issue to really put a crimp in economic growth, certainly when you look at what's going on with the autos. great conversation, ali mccartney and mitch roschelle. mark tepper, you're sticking around. thank you so much for the word on wall street. quick break. capitol biden heads to the hill where he's expected to talk about a reconciliation framework.
we do not have any details on what this means and whether or not there are actual votes behind this. florida senator marco rubio is here on whether the latest gimmicks will get and why stores say you should buy it now before it's too late and selling real estate on social media. growing traditional business with unconditional message and benefiting clients along the way. joining the conversation all morning long mark tepper and gianno caldwell. we will get back to the fantastic panel when we get right back. you're watching mornings with maria live on fox business. ♪ ♪ ♪
so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. maria: welcome back, fireworks on capitol hill as attorney general merrick garland defended his memo which targeted parents after the national school board association compared angry
participants at school board meetings to domestic terrorists, watch. >> that letter and those reports. >> the basis -- >> no, senator, that's wrong. >> the testimony, your directive, your pour formance is shameful. thank god you are not on the supreme court. >> it is wrong and unprecedented to my knowledge in the history of the country and i call on you to resign. maria: wow, garland pushed back and maintains that the memo did not target participants for speaking out against mask mandates and critical race theory in schools, but gianno, the letter reflected what the national school board said and the school board had to apologize for calling parents domestic terrorists? >> those who come across the southern border who have been flagged as terrorists are okay and are welcome to this country.
this is reprehencive. this is absolutely reprehensible. to elevate to doj it is sticking the fbi onto parents. this is something that every democrat, democrat parent, should all be concerned about. we believe the freedom of speech and at least that's what our country used to believe in. why is it that you cannot speak up and talk about the curriculum. why can't you talk about mask mandates, why can't you mention these issues, instead we have a government that's being ran like communist who are saying, hey, this is what you can and cannot do, we are eliminating the constitution and we are going to do what we say not what we do basically and that's the post that democrats have taken here. maria: that's absolutely right. the vaccine mandates arguably unconstitutional, you have the surveillance of bank accounts
that they wanted to do until that got killed because of the fighting over the spending bill. i mean, mark, look, you have kids. of course, you want to know what they're learning in school and yet he sticks the fbi on them. mark: that's absurd. so gianno's capitol you're a terrorist and concerned of what your kids are learning, you're a terrorist but if you're lighting cars on fire, you're not a terrorist. what did nancy pelosi say, people are going to do what they are going to do. they got a free pass. parents should have a say in what their children are learning. they should be able to voice their opinion and be able to disagree. maria, you mentioned my children, i can tell you my daughter who is in sixth grade she was handed a book to read over the summer. i wish i knew the name of it. i don't have it right now. maybe i will get it by the end
of the show. i will shoot my wife a text. a back of essays, essays written by school-aged children and when took a look at it there was a chapter on why critical race theory is good and why prostitution should be legalized. it was absurd all of the different chapters and all of the different essays that were in the book, they were all written by radical left individuals. yes, they were children who wrote them but obviously they had influence from their parents i would assume and we went and we battled with the school board over this book. i'm not a terrorist but i want to make sure that if politics are being taught to my children that i have a say in what my children are learning. maria: it's just unbelievable. ted cruz brought up what dagen mcdowell said on the program the conflicts of interest because his son-in-law is selling studies about critical race theory and meanwhile the kids in china right now they are being told by the ccp they need to
learn quantum computer, engineering, they need to go to school much more than american kids go to school and just like while the chinese were launching missiles, hypersonic missiles we were at the state department, they were celebrating pronoun day. i mean, come on. we are going to take a break, growing migrant caravan is headed toward del rio, texas right now. texas congressman is here, he will join us as the administration scales back immigration enforcement. they are telling ice, do not arrest anybody. then a special new addition to fox news, we are taking you inside the brand-new studio m dedicate today rupert murdoch.th coming up.
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making any arrests, so this list now includes places like churches, playgrounds, schools and protests. migrants can go there and they have no worry about getting arrested for illegally breaching our border. joining me right now texas congressman member of house foreign affairs homeland security august flugger. thank you very much for, what should we know about the caravan on the way? congressman: well, maria, good to see you as well. on september 18th, i went to del rio, i was under the bridge the day they had 18,000 migrant and the one thing they told me, the cbp officers, the border patrol officers, if you this this is bad just wait and here we are and, again, one of those things where what is the administration doing? they are leading us back into the crisis again and even worse crisis, an even worse situation where there are literally thousands of migrants who are coming up, many reporters have been covering this. at what point in time does the administration say enough is
enough around apparently they ad apparently they are doing this themselves. maria: it's been fox news and fox business, this program. i went to the border three times. there are others at this network bill is doing an incredible job, sarah carter has done a great job so we are trying to put a spotlight on this situation because we recognize 1.7 million people were apprehended at the border year to date, that's 2021. we took a helicopter ride to see what is going on. that does not include the got-aways, where do you believe the people that don't want to get apprehended and luring american teenagers to be their getaway cars and they are getting away with it, i'm told the number is hundreds of thousands year to date. >> we think it's 400 plus
thousand. that's 2.1 million and what border patrol agents have told me and other members of congress that have gone down there and taken the time to understand the problem is that they are not going through ports of entry anymore. the people that are bad, trafficking drugs and trafficking humans, the fentanyl and all of that they are moving toward the interior. we continue to ask the administration to release the number of known or suspected terrorists. kst's is what they call them. they refuse to do so. maria: unbelievable. >> it is unbelievable. the outgoing border patrol chief rodney scott has come in, kst's have come in record numbers and why would the administration not be forthright with the american public. this is a national security issue. maria: i just don't understand why they refuse to acknowledge what's taking place, it is a clear crisis. we've also got a crisis when it relates to the economy on our hands with oil prices where they are. you're introducing a resolution condemning a natural gas tax. the democrats are considering to
put in this reconciliation bill, what can you tell us about that and where are we on this reconciliation bill at this point? >> well, we are hearing president biden is coming to the capitol this morning to lobby for the bill, infrastructure bill, they are all tied together but i think, you know, what people are realizing what we are waking up to is for him to claim that nobody under $400,000 a year is going to be taxed is completely bogus. this natural gas tax, it's a tax on the american family. up to $240 per year on each family and increased energy cost, increased gas cost, it's insane to say that we will not be affected. we are feeling it at the pump and americans will continue to feel it and president biden is doing things that are going to cost us millions of dollars each year and every family is going to pay for this. maria: well, it's outrageous that there's not a cent in there for homeland security and there's not a cent in there for defense increase spending and i
find that really offensive given the fact that our advisories are rising as significantly as they are like china and now iran as well. congressman, good to see you, we so appreciate your time and your work on this and we will check back in, august ppluger. thank you, sir. regulating crypto currencies, securities and exchange commission calling the sector the wild west. my new guest says the new rules will actually benefit the industry. that's next. squid game brought to life. check this out. the halloween display that's scarier than a haunted house. we will take you there, back in a moment.
maria: welcome back, good thursday morning, everybody. thank you so much for joining us. i'm maria bartiromo and it is thursday october 28th. take a look at market this is half an hour where we have firmer tone on wall street. a lot of things happening this morning. dow industrials up 70. s&p up 13 and a half and nasdaq higher by 87. we are standing by for the first
read of third-quarter gdp that comes out at 8:30 a.m. eastern in one hour's time, expectations are way down. atlanta fed expecting two tenths of a percent growth. yesterday sessions finished in low with worries over growth and inflation, dow industrials down 216. nasdaq was up by just by a fraction, s&p 500 down 23 at 4:00 o'clock on wall street. we are watching european market this is morning ahead of european central bank decision. we will hear from kristin lagard. the cac is up 37 and the dax index lower by 16. we want to hear her take on the macro story. the macro story in europe. take a look at asian markets. red across the board. china was the worst performer, shanghai composite down 1 and a quarter percent on the session. back in the u.s. at least one person injured, dozens of homes damaged as severe storms roll across parts of texas this morning. cheryl casone with the details
right now, cheryl. cheryl: good morning, maria, so dramatic video shows an two tornado ripping across southern texas highway. this happened, east of houston on interstate 10. the tornado crashing through power lines even throwing a vehicle into the air. we saw that in the video. these drivers that got this video were shocked obviously. the destruction was so bad that one county issued declaration citing extensive and widespread damage to public and private property. well, activist investor daniel lobb making to make change at shell, one company handle businesses like refining and another that would tackle renewable. let's tyke a look at the stock, down up 4 and a half percent in the premarket on this. well, president trump yet to be released social media form
attracting users. a new poll shows more than 60% of registered republicans say they plan to use true social. trump media technology plans to launch an app to invite guests next month and will go nationwide at some point next year. and then there's this. manchester, new jersey, maria, a teenager decided to make this after viral squid game. shows deadly red light, green light game and has display that shows creepy robotic girl and guards in the windows and audio gunshots when you walk by. the family is known for elaborate holiday light shows but they put this one together in just two weeks after they watched the show on netflix, total cost, $20,000. by the way, maria, the teen's tiktok account went viral. he's earning 10 grand in sponsorship money as of now.
i mean, you are making money and he's got a really creepy scary light show in his yard. i love halloween, but -- maria: this whole show creeps me out. i haven't seen it yet. i don't know if you have. cheryl: i'm with lea carter, no, just no thank you, not doing it. [laughter] maria: all right. we are wanting to zero in now on coining the market. securities and exchange commission working toward regulator crypto currency and signaling that it will only allow unledged funds -- joining me right now is ceo of voyager digital, cofounder as well, steve, great to see you, thanks very much. i wondered what you thought about the sec saying, yes, bitcoin funds are fun, etf's as
well, handful of etf's out there offering bitcoin but not leveraging bitcoin etf's, what are your thoughts? >> thank you for having me again. i appreciate being here. lack, i think it's a natural progression of regulation. we are going to go step by stem on this, we are not -- step on this and we are not going to go aggressive and bringing regulation to the industry and thoughtful regulation as that comes and that's the next step that we come in etf's, we will do this on a step by step basis. maria: steve, i want to ask you in a minute with partnership with the dallas mavericks which sounds so excited but first walk us through your vision. how do you see the digital economy moving, how is this going to evolve in terms of how people use and spend and transact? >> yeah, i mean, we are in the early stages still and i think adoption is starting to happen. i still say to use basketball analogy, we are still in the
first half of the first quarter of the adoption and usage of crypto currency. we have seen a lot in the nft space but i'm starting to see projects for title, title movement of cars, title insurance on houses, we are seeing that adoption starting to come. i think as we start to see that you are going to see more adoption of the crypto currencies and the real use behind the block chain and crypto currencies, that's what gets us really excited about some of those projects that we actually see coming down the pipes pretty quickly actually. maria: it sounds like it's an incredible growth story certainly for voyager and other ties to network of digital currency and digital transactions. go ahead, mark. mark: >> hey, steve. you know with all the talk about biden's beefed up irs and giving big brother a chance to scourer through and look through our bank accounts, don't you think that's bullish for crypto?
i would imagine people who are concerned about privacy would begin transacting more and more often in crypto rather than u.s. dollars, what's your take on that? >> well, look, i think crypto isn't as cryptic as people make it seem, you know, companies like ours are doing know your customer reporting, aml reporting and look, there's taxation of crypto currency as well and we see that possibly in the infrastructure bill that there's going to be enhanced taxation. i think it's the usage of crypto that actually really matters and what's driving is increased adoption in crypto and i think that the taxation side, people will continue to trade and invest in the projects because also what is antiquated financial service's system at the forefront of all of this in the way we trade security. there's a lot of opportunity for crypto currency in the crypto sector. that's where you will see more adoption coming in and a lot more things expedited in this
manner. maria: yeah, i wonder if you have a thought on which crypto is going to be the biggest mover. i put a poll out on my twitter account yesterday, which crypto will be the biggest mover within the next year and why. you know, when i started looking into it, i didn't realize how many crypto currencies there were, steve. i'm getting a lot of response on this poll that i tweeted yesterday but talk to us about your big announcement, your thoughts on which crypto is going to be the biggest mover and tell us about the big new partnership you've got with the dallas mavericks. voyager enters 5-year exclusive deal to become the team's first currency brokerage and international partner and mark cuban says crypto and applications are changing how finance are done? >> mark and i are really aligned. we are excited about the 5-year integrated partnership because we see the world the same. we see the world the adoption and it's changing as i mentioned
changing the way things are happening and partnering with mark and the mavs, they are really progressive in the way they look at crypto. they were one of the first teams to accept crypto as payments and we will be in there and use payment system to actually accept payments for mavs years ticket on a go forward basis. additionally, the key partnership for us on this partnership is education. like mark and i want to be out there. the mavs want to be out there educating people on crypto. people are starting to understand it but, you know, in dallas there's a big hub, texas is a big hub for crypto and crypto innovation and you want to be at the forefront of that, educate people as to why this matters and that's why we felt this partnership was so important to us because they understand crypto, the mavs totally understand crypto and they've been in the space for a while. maria: i love that. we need to education because these names of new cryptos,
like, for example, the coin is on the rise, it's up 40% yesterday. it's doubled in value in the last week, so how do we know which coin it's already overtaken doige coin. >> that's exactly why we need education. at federal press conference yesterday we want people to come in and be wise about how much they spend and how much they invest and learn more about the coins but it's incumbent upon us to teach about doge, bitcoin and smart contracts. it's important for us to do that and that's why we are in this partnership because you're right, people don't know why sheiba exists and how it's used and there's a lot of things coming on sheiba including payments, payments are changing and crypto is at the forefront of that. maria: i totally agree.
steve, great to see you. thanks very much. you can check out what bitcoin and the others are doing right on our ticker. we have put crypto currency on our ticker right along with dallas as well right here on fox business. steve, come back soon, great to catch up. >> thanks for having me. maria: all right, steve erlich from voyager. you are behind on christmas shopping and it's next in retail roundup and social media entrepreneurs joining us every day. watch this. >> i'm brandon, cofounder of current real estate advisers. we are in commercial real estate, oldest and equated industries in the world. we use instagram and social media in order to become the most successful and i can't wait to share with you how we do it. maria: hear more of brandon's story and what sets his company apart. you're watching mornings with maria live on fox business.
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out tomorrow, we were just talking about how much money people have in their pockets and the fact that they have been saving during the pandemic and now we have new financial worries, why? >> new financial worries, maria, because the national retail federation is protecting november, december holiday spending of about 850 billion. that said from the earlier segment on natural gas which is great consumers may have to cut spending by 80 to $101 billion because of higher energy, gas and inflated prices in 12 out of 12 monthly expenditure areas. maria: unbelievable. so now we've got the inflation worry, the supply chain worry, retailers are telling consumers to start holiday shopping now. we talked about this the other day. i'm not in the mood to go christmas shopping right now. where are we going to do, go to stores around christmas and see that stores have run out of items because of the supply chain, staffing shortages, inventory challenges, what do
you think it's going to look like in the next month and a half? >> maria, while consumer confidence is going through a regression and confidence is getting crushed, store shelves are empty to your important point and consumers really need to complete his or her holiday spending some time between halloween this weekend and veterans day in a week and a half otherwise there won't be a train wreck under the christmas tree in terms of empty stockings and lack of presents and cards with promises to buy next year because you couldn't buy this year. maria: well, how come we are not seeing the issues at amazon? burt, look, amazon reports earnings after the close tonight and it seems like amazon is doing fine and yet everybody -- we are hearing issues for everybody else with the 160 ships in the pacific right now unable to drop products off. >> maria, amazon is in the perfect situation about two-thirds of their retail sales
are from third parties and as you reported well, amazon has bought its own ships and has an extensive line of inventory so amazon is going to be one of the retailwinders during the holidays but there are others like ebay reported on fox business last night after the market that ebay total sales declined quarter over quarter by about 10% in total number of customers declined about 5%. so consumers are really , iocousncerco angngngur p,asess reportedported itr s najourlurlur arerere passi png n rc hapuslt aher. owa:, m,um j in. h b,t, my m mue qnstio u, you can can an t coul y year yea for for chri stmas i h tado haduy m s son s 5 o ebaybaecseec couldn't nd them the ond i start s looking againgain this year to a
ps5 for another family member d onced iadadad g ebay aay, t,t's two t t consecutive holiday shopping seasons where goods are hard to come by. when does the madness finally end? >> mark, great points and then also it's going to be exacerbated that you and i both grew up in the blizzard belts of the great lakes region so with that weather forecast and winter weather and more blizzards before the holidays that will show shipments even more but on your point on buying on e-mail, it's not going to stop until sony and microsoft and everyone else start building in the continental united states and stops outsourcing what we buy through wal-mart nonconsumable through the people's republic of china. we have to onshore. maria: wow. so far we are seeing hits to
earnings as a result of this but we spoke with the head of the port in long beach who said don't expect these issues to stop or go away until at least the second half of the year and we have other predictions that it continues throughout 2022. so that's an impact that will be felt on the economy, bitter, we will be watching, we have the gdp coming out soon. do you think this hurts economic growth, burt, real quick. >> your important work, maria, i do a lot of probono job and the ports are exhausted and they can't produce and ship as much. the answer is make it in america, power to prosper. maria: burt, great to see you, thank you so much. burt flickinger on retail. special new addition to fox news. we are taking you inside the brand-new studio m honoring our founder rupert murdoch. stay with us.
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♪ maria: welcome back, celebrating 25 years of fox news with a special hour for founder rupert murdoch. take a lack. >> apologies from susan who couldn't be with us today unfortunately but it's really her and jay's brainchild and that's really to as you know we are standing on what was until moments ago studio s but today we are dedicating this incredible space to you and calling it studio m. >> thank you. >> named in honor of our founder
rupert murdoch. >> thank you. >> what happens as you know in studio m is really the heart of the fox news operation between "fox & friends" and outnumbered, martha and the five and, of course, our election coverage and our polls, all that happens within studio m. >> thank you very much. >> we are inspired by -- we are inspired by your action for journalism and for news and inspired us the last 25 years of fox news and for the next 25 years. >> thank you very much. thank you. maria: i love this. that was murdoch and rupert murdoch celebrating the new name studio m in honor of fox news founder rupert murdoch. i think our fiercest leader and ceo susan scott said it well in her note to the staff yesterday when she wrote, we are eternally
grateful for his tremendous leadership, unyielding support and impact and legacy and revolutionizing the entire media landscape and creating the fox news channel will continue to have enduring significance for those who broadcast from studio m. thank you so much, rupert murdoch. quick word, gianno, your thoughts? gianno: i've been growing up in the south side of chicago and i am honored to be a part of the network that's very -- i'm glad to see rupert. maria: it is great. 90 year's old. 90 years young. we will take a break and we have the third quarter gdp in half an
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headed to capitol hill in about an hour expected to announce, a framework what he is calling a framework, the reconciliation package, there are still no details on what is included in this bill whether or not he even has votes, hillary vaughn on capitol hill what can you tell us. >> good morning, maria. the president is delaying his departure slightly for rome for quick stop here on the hill, trying to score a win on his agenda, as his key legislation social spending package gridlocking there are marriage differences in the democratic party over the price tag how to pay for it, what plans are actually in it. . >> the problem we talked with the president problem is -- who -- although very few, but significant minority they have the right to determine -- uh what -- congress should be
doing. >> have you no deal today. >> -- no -- i think we've got resolutions everything else. >> biggest impact progressive moderates where to get the cash to pay for it all saunders told reporters yesterday he felt every revenue option has been sabotaged did he asteroid by those like mansion sinema, a billionaire tax not sold hiking tax rates for corporation the wealthy, vetoed irs snooping on bank accounts transactions richard neil told me yesterday making progress on pay-fors. >> nail down all the revenue, pay-fors by today. >> want to do that most are there a matter of dusting some of them up. >> president, is coming to the i'll have reportedly to announce a framework deal but that is not enough to get most
progressives onboard. the -- told me yesterday they teed airtight legislative -- they need to vote for both are entrepreneur and social spending same day we can't have a situation any opportunity for misunderstanding, once an agreement assume we gee on it he everyone on sage page then kroet. >> hard sell 9:00 a.m. in front of the democratic caucus with progressives moderates we will see what comes out of that meeting he will go to white house where he will deliver remarks, to the american people, and explain what the path forward is on his economic and domestic agenda maria. maria: to me abscond like smoke and miles an hour dying
to -- he be close to agreement but not every sticking point i don't know what mr. kneel is telling you that the pay-fors are all there, they are not at all so he is he is okay lying as well, as the president, graphic that we have up what is in what is out, it still in the higher 87,000 new irs auditors doubling number of irs agents but out that they are not going to require, the bank surveillance you know that makes no sense, if going to put irs agents in there, then what do you think they are going to be doing, surveilling bank accounts you about the can't have one in one out so many gimmicks in it not applying the fact stopping by capitol hill to say a framework to cole european counterparts he has a framework when actually he doesn't. >> maria definitely a a hill mary for president you are right even progressives are not convinced alexandria
ocasio-cortez said idea she wants concrete text their perspective we have been in framework mode talking about what is in, what is out that is a framework, so it is interesting that is the word choice white house used president is going to announce a framework is what both parties have been negotiating, and working with you are right, even last night there wasn't agreement on major proifg like whether or not to include paid leave in the package that was being negotiated -- late into evening last night, interesting what happened overnight, that the white house thinks that they have a deal -- the progressives in the house and moderates in the senate. maria: yeah. well, honestly is this in step with everything else we have heard from this administration oh, the border is closed, no, it is not. oh, there is spending package costs nothing, no, it doesn't two to five trillion dollars in step with all of that, hillary you are on it we are going to toing your reporting
great reporting all will day, this morning, when the president heads to the hill 9:00 a.m. thank you so much hillary vaughn at capitol we are about an hour away from the opening bell markets higher dow industrials up 63 s&p 500 up 13, nasdaq up 84, we are in for a jam-packed definite earnings and week, after busy we can economic data the first read on third quarter gdp out 25 minutes atlanta federal reserve cut estimates for 5/10 of a percent now 2/10 of a percent joining me cross mark chief strategist joining the conversation mark tenne janet caldwell welcome back, tell me about potential for spending what the markets how markets will view that we are here in earnings period forwarding a number of, merck broet brett caterpillar better-than-expected both those are higher what is your
take away from third quarter reporting season, victoria? >> you know maria i think so far the market is pretty pleased with what we are seeing on earnings expectations, when we -- where we stand versus previous two quarters the anticipation there would be much larger drop in the earnings, we haven't seen that very much a small drop but not very much, because really strong when you listen to what ceos are saying they are saying consumer 2k3457bd there is yes supply chain issues talking earlier about how some ceos sigh second half next year or all the way through 2022 could be an issue the consumer demand there, i think strong, we have earnings come out strong, that is a good read on consumer tat pillar had good numbers, we get apple, amazon today the markets focusing, on that right now. i -- i mean this week alone is about a third of the s&p that is reporting, so lots of
things to go through guidance that has been key we can see ebay has decent numbers guidance report stocks are i think 5, 6%, so that guidance is key great guidance with microsoft apple i think we will see that with pa and amazon today as well. maria: i mean the reason that i caterpillar better-than-expected quarter the stock up this morning caterpillar, is an indicator of global demand the macro story obviously, construction, big heavy machinery operating all are on the world a good sense especially where markio destroyer is federal reserve meeting happening next week we are expecting fed chair jay powell to signal it is time to taper. amid inflation concerns, but victoria the economy has slowed even if the caterpillar numbers don't say that, do you think the fed's plan eases up
a bit do they change the taper plan given the fact that we are seeing o growth expectations come down? and worries? move? >>. >> a i don't, i think we might see a opposite in the coming months, and that is because when we look what is happening globally you were talking atlanta fed a quarter percent or so for gdp that number will come out in a little bit. but i think what people maybe doing is underestimating the growth poengs going forward after in a delta variant through a monkey wrench in third quarter a strong balance sheet looking good, and o globally growth should come back as well, then i think we are going to be pretty good and that means fed may go quicker than people anticipate look at futures maria there is a 70% probability right now of the first right hike in july i don't think anyone anticipated
that a month ago. maria: victoria quick will jay powell be reappointed in your view? >> i hope he is because that gives certainty to the market if he is not that is going to bring a lot more uncertainty that is going to give is fed more he dovish what does that mean going forward, are key for markets to continue to move higher jay powell is that factory. >> understood, thanks so much victoria fernandez joining us on allocating your capital florida senator marco rube here a a hill mary to get a reconciliation deal done, selling real estate on social media the insta-stars growing traditional business with unconventional methods, you are watching "mornings with maria" live on fox business. .
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better-than-expected' . maria: one of school training the next generation of truckers to help solve supply chain crisis. >> hi patterson high school speaking long-term solutions to this cries developing supply chain logistics program with truck driving focal point part of the pandemic seeing, a shortage of 60,000 drivers in the industry only growing, and has developed a course that allows to get hands-on driving experiencing dave you started the program can you tell me how this initiative you she addressing gaps in supply
chain crisis. >> we have seen driver shortage increase year after year started program five years ago, creating a sustainable long-term pipeline for the industry of well young trained talent, so one reason we saw this we ended up creating a nonprofit, association called next generation trucking foundation going to do this help other schools start programs across the u.s. >> thanks so much for work here i am here with lalafi a graduate of the program studying for commercial driver's license this fall, and can you tell me how learning skills, and joining this industry impacts you personally. >> i think kind of like i talked about in the past opens up the door not like tradition trucking schools you go in learn curriculum spending out responsible drivers there is a
lot of back-and-forth between 18 years good enough to drive trucks it comes down to individual doesn't matter when 18 or 35 what matters who taught you what skills are instilled in that i think it does open up a new door, sets up for success. >> good luck on that driver's license testing i know you will get holiday presents -- in time this year there you have it, patter sorn training workers to land good-paying stable jobs what started as internationalcides patterson offering a future built on future of the american workforce. >> i love this story faubing about trucking industry so much, and we need more workers in that business, live, and mark this is a really important industry, as all feeling the impact of the shortage right now.
the salaries going up dangerous job in cases because driving morning, noon and night don't get a lot of sleep in one position driving, this is a great story. >> it is a fantastic story i think more schools need to do this schools need to stop one size fits all approach, to customize education may be not everyone needs to learn chemicals maybe learning how to drive a truck a substantial shortage as relates to you you truck drivers. >> a friend owns a small trucking business in jacksonville, florida has trailers sitting in his yard nobody to drive them so it is a real issue we talked to burt flickinger last hour how supply chain issues can be solved if we start to do this stuff at home in the u.s., i think this is one of the first steps to doing that.
>> yeah, why aren't we doing more take a break, when we come back we will zero in, on slowing back immigration enforcement the biden administration, wants fewer arrests despite coming over the border illegally new york congressman lee zeldin here talking to us about the administration why creating chaos at the border right now, a wedding takes a wild turn see what happens with a wanteders into the party we will tell you about it stay with us. .
centers funerals protests, arrests dropped considerably recently only 70,000 arrests are expected, for fiscal year 2021, despite the fact that 1.7 million illegals have been apprehended steep decline from 2020 over 100,000 arrests nearly half in 2019, by the way. all of this another as another massive migrant caravan making its way to the southern border right now he joining me right now new york congressman many lee zeldin a member of the foreign affairs financial services committee running for governor of new york, and congressman always a pleasure to see you thank you very much for being here you made the point, that every city is a border city when you've got the number of illegal migrants coming in unaccounted for tell us more. >> we've seen a lot of people come up to new york places all throughout the entire country. and you have -- concerned about what is happening on southern border a crisis that is only getting worse an
administration that is not with statements policies doing what it needs as you confronted this new order that is coming out as you referenced defies lodge a principal in government laws are enacted where they try to keep people away from play grounder who aren't supposed to be there he enforcement actions by ice long, across multiple administrations priored the worst of worst the ms-13 member measureer sex offender instead of a safe haven at play ground for kids the administration is talking about a safe haven for worst of worst who is targeting new ways for problem to get worse secondary effect because the markets use of drugs, we see that the, drug trafficking sex
trafficking human trafficking labor trafficking across the entire country, and we had a few years with president trump highest priority item in effort to make country safer borders secure rule of law enforced, this erosion leading to people outside of our country realizing, that best way to come to country procure american dream isn't following the rules it is by coming on their own illegal activity entry rewarded incentivized. >> we know that democrats wanted amnesty in reconciliation bill, so they want to make these people legal citizens. some a of those. and you got 1. million he apprehensions year-to-date can you tell us anything about the reconciliation package, what is going on this morning? because president biden is on his way soon to the hill, to make an announcement that that
he he apparently he has a quote/unquote framework we are told he still doesn't have votes though what is going on this morning? >> a. >> you my understanding president biden is coming here to capitol hill that the plan a for president biden house democratic leadership is is to have a vote on you infrastructure bill hoping to say a framework on reconciliation bill would be enough to get -- democrats who have been withholding vote to vote for infrastructure bill the problem that group of house democrats are saying, they haven't seen a bill want to see a bill don't trust framework just because senator mansion and senator sinema say they would get for this framework deal that is not good enough for them they don'tcare what senator mansion is telling them we will see last time president biden came to hill a couple weeks ago on this topic he ended up leaving with less votes to support his
agenda amongst democrats we will see if president biden is able to do it differently. maria: that is what i figured, dog-and-pony show on ag merrick garland defending school board memo yesterday senators were not having it lynn to this. >> you have weaponized the fbi the department of justice, it is wrong, it is unprecedented to my knowledge in the history of this chun. >> it is about politicallization of doj you decided -- a vessel you know brett. >> did you consider the chilling effect that this sort of threat of federal prosecution would have on parents exercising their constitutional rights. >> the testimony your directive -- that is -- thank god you are not on the supreme court. >> congressman your thoughts, will the ag resign? >> a i don't believe the ag would resign i don't think going to lose any sleep over
that one of the issues here in addition to memo when was wrong targetsing concerned parents instead of encouraging parents to be moretive in kids education, we have seen, this -- desire to go after parents that is a broadly used term harassment intimidation, to describe activity so more leeway to be able to target them so what made things worse as ag coming to capitol hill before house judiciary committee senate yesterday is that he is not admitting that he made a mistake, he is not being transparent to the pro-he compounded the issue. >> have congressman great to see you as always thanks so much lee zeldin the gdp right after this. stay with us. . . for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect.
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this number hitting the tape right now dow industrials up 60 points as we speak he can the expectation off 2.7% to gdp remember this is a first reading for the third quarter, the expectations for the third quarter have been doing way down 290,000 jobless claims expected numbers as i mentioned coming up we are seeing the market move higher ahead of this number but expectations for growth have come down, the atlanta federal reserve at growth number of off 2/10 of a percent cheryl casone with numbers. cheryl: gdp i am going to give you this one 2% maria weaker than expected this is the first read for third quarter gdp, weaker than expected, at 2% market was looking for 2.7%, remember in second quarter we had 6.7% was final, about a 4% loss have less than 4% loss remember atlanta fed looking for .2%, so, better than that atlanta fed that is is this worse we
have seen this goes in line with what goldberg has been saying now get you to what we are seeing for initial jobless claims, the new pandemic low initial number 281,000 initial got continuing claims 2.243 million. 2.243 million, better than expected on initial for continuing claims excuse me better than expected claims gdp number is really kind of seeing weakness here consumer spending, by the way, in third quarter consumer spending gain of 1.6% maria. that is weak. when you consider that we were coming out of delta variant coming out of covid, country was reopening, all of this supply chain all of this a lot inflation and, again, we are seeing weakness in consumer spending, and that is really what is showing us this weakness in final -- excuse me in gdp for the third quarter
this first read 2% well off expectations back over to you. maria: thank you so much movement in stock market around the gdp number but were expecting a weaker number than what was expected six months ago the economy is slowing down, in the face of policies, that are failing, president biden heeded to capitol hill, less than an hour from now, he is expected to announce, that he has a quote/unquote framework on a reconciliation package we are not sure what that means a dog-and-pony show? there are no details of what is in this plan, and certainly doesn't look like he has the votes, for a reconciliation package, but he wants dog to europe with the story to tell price tag on this package 1.75 trillion dollars we understand joining me right now florida senator a member of the intelligence committee virtuality ice chair intel appropriations committee
member foreign relations committee member senator marco rubio joining me great to see you this mornings thanks very much for being here. >> thanks for the having me. >> what can you tell us about president coming to capitol to try to convince people that he has agreement here does he have an agreement on a reconciliation plan to your knowledge? >> well, i don't know if he has agreement i can tell you that -- they say we don't know details probably in fine print side i know no matter what he is coming up to sell a plan, that is going to raise taxes, that is going to increase spendo tax spending government more power central federal government more power over aspects of our lives that i am confident the bill has in it debit call it will reconciliation package that is build back sovpt plan 3 1/2 trillion or 1.75 trillion the end of the day a gimmick can say well only going only socialist programs two years that will lower cost because their plan once they get in place, very hard to
repeal them you to me that what is what they are banging on coming up to pitch and telealways built around take you you artificial lines for political purposes out of you afghanistan by september 11 can have a press conference bringing aing do it sell that disaster now has to come up with a plan to borrow and spend at least close to two trillion dollars at the minimum expand government intro codified so many of into law has to do it before europe chinese, talk about climate change funding coal fire plants all over the world other world leading polluters, par for the course. maria: that is right, that is right they are the world leading poll polluter, in terms what have we are hear fromth president in a few minutes i know he is trying to get the infrastructure deal passed but the progressives
won't sign on to that unless they have their way on -- on the climate package. do you expect that an infrastructure package could pass this week or are you expecting that we will see an extension of the highway funding? that highway funding expires on the 31st; right? >> right i don't know if they are going to pass one or not the reason i voted against infrastructure bill is what is happening this week being held hostage, held hostage because what they are saying until you agree to socialist plan we are not going to pass this bipartisan thing that came out of senate holding it hostage to force people have some people are not comfortable with build back socialist plan to vote for it so they can get an infrastructure bill passed it is what they said they were going to do the reason why i voted against it of this bart of this blackmail effort. >> by the way, took real courage thank you for that leadership voting against
infrastructure plan i questioned from it the get-go because only 11% infrastructure ignore sakes even money going to -- the amtrak, not for the tracks but actually for the pension fund at amtrak all gimmicks, i don't know why you would vote for something that doesn't have a dime for border wall construction doesn't have a dime for the infrastructure that we really need, but i want to talk about infrastructure, around amazon, amazon is under fire following a report in "new york times," reported accusing amazon of shortchanginging new parents, dealing with medical crisis other visual workers on leave senator you are calling on president and the department of labor to investigate amazon what do you want to see? >> well, i think this is another example of world hypocrisy you have companies spend all day virtual signaling lecturing putting up banners censoring people when you look at decisions they make they have no problem
sending american jobs to other currency no problem screwing around with workers so they love to tell how to spend taxpayer money lecture about social just whatever label they come up with they are hypocrites willing to do business in partner with genocidal government in have the china put uighur muslims in work watchers using slavery labor up to now to will uighur slooif labor bill stuck in house hypocrisy is extraordinary at the get away with it most media won't cover it for what it is. >> well, we cover it, as you know, china has been one of my most important priorities, and i want to know why your bill is stick in the house. who is getting paid by the ccp, there on capitol hill? i mean look at general mark milley calling china hypersonic weapons test very close to sputnik moment from the guy called his counterpart in china, and told him we are
going to give you a heads-up on whatever we do with regard to china. . >> i am sure his counterpart in china gave him a heads-up by hypersonic missile being launched here is what i would add to all that i don't know if someone is getting paid i can tell you about what is true the chinese communist party, has developed ans expertise refined really mastered art of deputizeing american are corporate class to come to warm ton d.c. be lobbyist they tell them you have 2, 3, 5% market share in china one and a half billion people you want to keep it? go to member get day member of congress to block it or key member of congress to block it this place sold people that love to talk tough on china when rubber immediacy road they are not there case someone gets to them says bad for business not good thing we nope the companies openly or secretly lobbying nike tried to kill this and others chamber of commerce do it all because they are making money
in china don't want they don't care if produced the products being produced they don't care it will helps bottom line quarterly earnings american politicians doing their bidding under guusecretly or under guiamerican growth. >> you have pen pushing rules investing not investing in chinese companies for years among first voices to point out ccp wants to replace united states as number one superpower companies chinese companies that larry fink at black rock is is telling investors to invest in enabling ccp rear listed on u.s. exchanges don't even follow our rules senator, how is it possible that this corruption is in plain stiet, is it just -- because biden family gets money from china? then there is the op-ed in journal this morning,
professor biden and his ambassadors, highlighting joe biden employment as benjamin franklin presidential practice professor at university of pennsylvania, op-ed notes that biden was paid more than a professor for what he has been called very -- job 317,000 dollars, from the university of pennsylvania and now wants to make the president of the university his ambassador to germany and chairman of the university the ambassador to canada? what what is this about a quid pro quo? >> usually those posts are rooefshd for donors given a little bit of money to some people some given none isolated incident or do one thing if you look say you got this job they paid you a chunk of cash to do it the person who got you job is suddenly an ambassador, to -- to germany, and other posts not thinking about it calls into question when you put in line with other things that that have gone on with president's son
with others, i think important to remember the corporate party in membering is democratic party look at nations you are people go on line look at donations where money went wall street give a more than a wealthiest in america voted for democratic party another thing mastered art of saying one thing doing another protect american corporate class big business, bias business pays homage does what it needs to do on woke side big money involved in rotating cycle resolving door people leaving government getting cushy jobs outside coming back in corporate america incestuous figured out how to play it played very he will doesn't get coverage here except in network like yours. >> what a letdown from are woke ceos,a letdown from media for sure, wow. senator quick before you go, when i promoted you were coming on i posted a shot of you back in the day playing
football, you he still playing football? >> no, i -- i like to watch more than play it these days at this point in my sons -- gotten stronger i can't play with them anymore i do i want the wind up in wheelchair crutches a month and a half a lot more fun to watch these days. maria: i gotcha, good to see you. thanks for all your leadership senator marco rubio joining with us this morning in d.c., thanks, tune in to o special jigs kudlow called save america kill the bill later today larry all-star panel detail why country does not need president biden's massive spending bill how he could change fab k radio of american life they do want to change america join larry 4:00 pm eastern live today. back in a minute. .
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electromeccanica.com and drive solo. maria: welcome back. ensins week continues on "mornings with maria" today changing the real estate game, current real estate advisers utilizing instagram to promote sell drive profits to company generating more than four million impressions a week cofounder brandon, great to have you, i am amazed how many people have created businesses and revenue from instagram a
tell us how you got started brandon. >> it is incredible. i was a lawyer a corporate lawyer spending a lot of time in the office. want reading contracts, due diligence i realized my forte was outside the office i am a people person i like telling stories i am a mark eitherer what better asset to market than real estate you can touch and feel tangible i partnered with my current cofounder, admiami my roommate at university of pennsylvania a finance guy skills completed mine we found the real estate, we are helping office, tenants all over the world find office retail pays. maria: brandon has to be something else i know a lot of real estate you know, developers, and executives one of my best friends sells real
estate on a residential line not commercial. you had to do something to get noticed on instagram, to actually trigger this revenue. >> it is a secret sauce maria a massive he differentiator for yours changed mm of people every week, as you said, 50,000 in stories we came into the business, brokers would put up a sign with phone number on it that you can call in order to rent the property. that wasn't working, instagram was massive game-changer for us able to have two-way conversation with audience help land lords tell the the right story market the property, in the most hill effective way not only for landlords it is for tenants on office and retail side so retail tenants creating brand awareness for them selling their products driving traffic to their web sitesing driving foot traffic to stores creating massive -- we are giving them data, it is
two-way conversation, at o drop of hat i can ask a hundred thousand people, questions, and deliver that data, to our clients so, for example, in retail side, clients that are looking to open up new cities we can ask poll audience ask questions what is the best place for this brand to open up take that data and give it to our clients so they can make informed decisions where to open up office side incredible we are interacting with people on daily basis, followers that are hill engaged, what separates us from a all the other brokerages out there asking where next office space coming available in soho or different submarket in manhattan to use that provide that data to our clients, so, we are -- last night -- data, has replaced oil as number one asset in the world. we have access to the data access to information because of social media, and two way
conversation with our followers. maria: . >> providing that data to clients. maria: great point the data, yeah, the data that you are gathering from all your entire network, and then spewing it out, what advice do you have for anybody looking to start a business on instagram? have how tough was it to get started? and really truly monetize your business on insta. >> well -- the big thing about instagram that it is a custom acquisition not only for clients but us the more we talk about leases that we are signing deals that we've done next thing you know someone reaches out says hey my friend looking to open a store or open an office become a massive customer recognition tool for us, snowball effect we help clients clients keep helping us i would recommend creating content continue to do it even if you are not getting the amount of likes followers that, you know, at the rate we're getting keep
doing it, don't be afraid to embarrasses yourself put yourself out there, get gain followers tell a story create content that snowball effect for your business nie love it great stuff, congrats we will follow you thank you so much, from current real estate. we'll be right back. stay with us. . this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. (vo) while you may not be closing on a business deal
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i would be terrified. i've seen that movie with leonardo dicaprio and his run in with the bear didn't end well. i don't want to be a around the bear ever especially one that is hungry. i will be staying as far as possible. maria: i would have gotten out of there. >> i would have too. looks like the bear is making his way in. maria: thank you. "varney and company" is about to begin. stuart: it is difficult to report clearly what is going on dc. chaos in the democratic party makes clarity a scarce commodity but we will try to make sense of it all. the president meeting with top democrats on capitol hill trying to bridge their differences. they do have a deal, it is