the successes and failures to help someone else pursue their happiness as well. >> continue your pursuit of happiness. congratulations, sir. ♪♪ >> thanks for watching the pursue. visit redneck riviera.com and find my made in maria: good thursday morning, everyone. thanks so much for joining us. i'm maria bartiromo. i'm is thursday, april 14th. your top stories right now, 6:0. today more big bank earnings and consumer spending on deck. investors are expecting first quarter earnings this morning from goldman sachs, wells fargo, morgan stanley and citigroup. we will be watching loan growth, capital markets businesses and expenses coming up. we are also watching for the impact from yesterday's record high producer inflation of 11.2% year over year as the white

house now attempts to shift the blame for high prices onto texas governor greg abbott. watch. >> you had mentioned in that statement that the truck inspection has led -- governor abbott has been conducting has led to disruptions to the food and automobile supply chains and rising prices for families. is the white house blaming greg abbott for p inflation? >> well, i think we're trying to state the facts of what his -- another political stunt that we're seeing happen and the impact of it. there's over $1 million in trade crossing over the u.s./mexico border every minute. these aca shuns are impacting people's jobs and livelihoods of hard working families in texas and across the country. maria: we know that inflation has surged from the 1.4% level when joe biden first took office all the way up to 8 and-a-half percent, largely because of his policies, massive stimulus and spending over the last year. will that cut into spending

numbers that we will see later today as we await march retail sales, expected to be up 6/10 of a percent. we'll have those numbers for you and see if it impacts markets coming up. plus, the busses have started to arrive in washington and a second one has arrived this morning. lieutenant christopher olivares of the texas department of public safety will join me this morning to talk about biden's blame shifting to the texas governor's move to bus illegal migrants to the nation's capital so president biden can manage this issue himself. meanwhile, futures this morning are fractionally higher, take a look. we are looking at a gain across the board, dow industrials up 27, nasdaq right now higher by 19, this after all three major indices jumped yesterday. take a look at the market's performance where we see the dow industrials at the close up 344 points, the nasdaq was up 272, and the s&p 500 higher by 49 at

4:00 on wall street. interest rates meanwhile pulling pulling back, the 10 year treasury yield up six tenths of a percent. oil prices this morning are down about half of a percent, take a look at the price of oil, brent and crude right now showing a decline of 1%, brent is down $1.11, crude is down about 1%. european markets this morning are flat ahead of the european central bank meeting at 7:45 eastern. we will get any headlines out of the ecb meeting for you, ft 100 up a fraction, cac up 24 and dax ind higher by 15, going into the ecb meeting. asian markets up across the board. take a look at the asian indices. the best performer overnight in japan and china. back in new york, crime, the nypd hazard frank james, the suspected subway attacker. james reportedly faces a

terrorism charge and prison time. he will appear if federal court today. stay with us on that story developing. "mornings with maria" is live righ now. ♪ who are you, who, who, who, who. ♪ i really want to know. ♪ who are you, who, who, who, who. ♪ tell me who are you. ♪ who are you. maria: and this morning we are watching and waiting for more bank earnings, goldman sachs, morgan stanley, citigroup and wells fargo reporting first quarter numbers later this morning after jpm reported yesterday. yesterday jp morgan reported a lower than expected net income for the first quarter, down 42% from the previous year. revenue exceeded analyst expectation as ceo jamie dimon talked a lot about the macro story, citing inflation and ukraine as, quote, powerful forces threatening the u.s. economy. jamie dimon said you've never seen that before, i'm simply

pointing out that those are storm clouds on the horizon that may disappear, they may not. joining me right now is cfra research director, ken leon. joining the conversation all morning long this morning is fox business' dagen mcdowell and strategic wealth partners president and ceo, mark tepper. great to see everybody this thursday morning. thank you so much for being here. ken, appreciate you joining the conversation, cfra lowered jp morgan's target price by $30 a share to 145 after those numbers. tell us what prompted the cut in target price and what you gleaned from the quarterly report from jpm yesterday. >> well, it's great to be here. and jp morgan and the large banks are just not firing on all sill lynn deers. 2021s was a phenomenal year. we're seeing cracks in terms of consumer loan activity. investment banking, it's tough to your point, maria, the backdrop of ukraine and

inflation and the bull case is maybe later this year with rising rates but the fed's got to steer that and have a soft landing so we don't go into recession. all these -- you know what's you amazing, maria. today we got four of the largest banks reporting which is unusual and i think following jp morgan they want to get on the stage and get off really as quickly as they can. maria: and is that because of what you see on the horizon? i mean, you're right, we're waiting on goldman sachs, morgan stanley, citigroup and wells fargo later this morning. ken, what do you see as the most important trends here? of course we've been and-a-half a gaiting these inflation numbers that are at 40 year highs, expenses are rising, we saw that yesterday as well. what are you expecting from these companies and broadly speaking for the first quarter reporting season. >> going into these calls, the two most important things is the health of the consumer and whether they can propel consumer

loans, credit card, et cetera. the second area which is critical is whether any of the bank managements will step up today and speak about a healthy pipeline for investment banking, particularly equity, underwriting and ipos. so i think today it's much more related to a convection caller or the tone versus the numbers that we're going to see from all these large banks and i think for the financial sector, really for the equity market to do well, bank stocks or the financial sector has to do well. blackrock did well yesterday. but the focus today is on the large banks. maria: okay. mark tepper, jump in here. >> so ken just mentioned a very important point. he mentioned blackrock. and i think for any investor who is trying to build out the financial sleeve of their portfolio, i think it's that important that you look past just owning big banks like jp morgan, wells fargo. you have to begin to diversify

your financial as exposures into as a he'll managers like blackrock, private equity managers like blackstone, maybe an american express, some of the insurance companies look very attractive right now. those are breaking out. when i look at the fansal sector overall a -- financial sector overall, financials are expected to be the biggest drag on earnings this year with energy being the biggest contributor. so, look, typically financial or banks at least, they tend to outperform leading into interest rates going up. once interest rates start going up, which is where we're at right now, they tend to underperform. so i think as you're building out that sleeve to ken's point, you have to begin looking at some of the companies outside of just owning big banks. maria: yeah. i think it's a great point, particularly as we see the macro story shifting here, ken. what is your take on the consumer and what we're expecting in terms of spending

given this inflation backdrop, ken? are you expecting a recession this year? >> the likelihood is slower economy and maybe recession next year, not this year. but the market is always discounting the future and to mark's point, certainly you want to put aside any exposure outside of the u.s. because it's just not working. so when we look at the u.s. for investors, it's really looking to the names of blackrock and blackstone but then also maybe the regional banks, some of them which just are able to execute on commercial loan and consumer loan activity. the consumer's not going to really surrender yet but if we keep on having high inflation and high rates, it's affecting disposable spending income and there's a lot of new stories today about travel again and moving from products to services. but every household, especially middle class and lower income,

they're spending 70, 80% of their income on food, fuel and housing costs. it's going to m make this a much more challenging picture. again, it's not like 2021. we're in a really a different environment today. maria: yeah, let me just say stephanie pomboy, a frequent guest on this program, said that she is expecting a profits recession, ken. what's your estimate for profits growth for the quarter and for the year? what is a better metric. >> for the s&p 500 earnings we're looking possibly 3 or 4%. earlier in this year it was expected to be more like 6 or 7%. and i think that's what strategists and portfolio managers are looking for is how strong earnings can be. the real risk and it's a safety net whether because of inflation and demand weakening, maybe

margins get hurt and you don't have pricing power to pass on the higher costs to consumers who are worried about many of the factors we're discussing. maria: it's a great point. ken, it's good to see you this morning. thanks so much. >> good to see you. maria: all right. ken leon joining us, cfra. coming up, new yorkers are learning more about the alleged subway shooter after sources said he turned himself in to police, a live report is coming up. and then migrants bussed from the southern border arriving on joe biden's d.c. doorstep at the white house. the strange response coming out of the white house coming up. and then tv host and author kathy lee gifford is here this morning, she'll preview her new fox nation series, the jesus i know, featuring honest conversations about the test of faith. don't miss a moment of it, coming up. you're watching "mornings with maria" live on fox business. ♪ if it's meant to be, it will be, it will be, maybe just let it be. ♪ if it's meant to be, it will be, it will be.

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maria: welcome back. alleged new york subway shooter frank james set to appear in court just hours from now. jaime james was finally taken into custody yesterday after roaming the city for nearly 30 hours. lauren green is live in brooklyn with more. good morning to you. >> reporter: good morning, maria, frank james is now in custody. a multi-state manhunt involved hundreds of police and detectives. james brought an end to the chase. the bizarre climax to the intense i've search came when frank james called crimestoppers hot line after seeing himself

plastered across tv screens and wanted posters. he told the tip line he was at a mcdonald's in lower manhattan. when officers arrived he had gone, taking a stroll in the area. that's when witnesses saw him and called the cops. >> he was walking the streets. i see that car, police come, saw the police, yo, there's that guy. it's that guy and we catch him. thank god. >> reporter: the events began during tuesday morning rush hour when witnesses say as the train pulled into a brooklyn subway station a dark skinned heavyset black man wearing a neon construction vest began firing. 10 people were shot, at t least two dozen wounded, no one with life threatening injuries. james became suspect number one after being linked to a u-haul

rental van. he has a credit card theft, making threats and disorderly conduct. despite his involve innocent his own capture, authorities are he defending their role. >> my fellow new yorkers, we got him. >> we were able to shrink his world quickly. there was nowhere left for him to run. >> reporter: james is expected to be arraigned in brooklyn federal court. he is expected to be charged with some sort of terrorist attack on mass transit. maria, back to you. maria: all right, lauren. thanks very much. lauren green in brooklyn this morning. dagen, your reaction? dagen: this is just a failure of policy from start to finish. bob mcmannis writes in the new york post today about when will it stop, the violently mentally ill and their behavior and their

assaults on the people of new york, when will we step up and start doing something about it? these people need to be locked up and treated and there's nowhere to put them. they're not in jail. they're not in mental health facilities. they're anywhere and everywhere. you have to dodge them each and every day if you're walking around in the street. they attack. they assault. and they go this far as to shooting up a subway car. it's also a failure on behalf of the transit system, you were talking about yesterday that the cameras were not working in the subway station in brooklyn where this attack occurred. well, this individual, james, actually blended in with commuters, took the r train to the next stop where the cameras also were not working. they would have been able to apprehend him a lot sooner if these protections were in place and they're not. a failure. maria: dagen, spot-on as usual. i want to switch gears and get your take on this breaking news,

dagen. we have news right now that elon musk is offering to buy twitter for 54, 20 a share. twitter stock is soaring right now. musk says twitter should be a private company and a he's offering to buy it out right now. we've been waiting to see what elon musk's next move was and now we see that's why he didn't want to take a seat on the board. he would have been limited. the stock is higher and twitter says he wrote a letter to twitter saying i do not have confidence in management, nor do i believe i can drive the necessary change in the public market and is now offering to buy 100% of twitter for 54, 20, dagen. dagen: you called this. so you identified first thing that the reason he wasn't staying -- taking a board seat is because of that 14.9% ownership threshold that would have applied to him for a two-year period. you called it. you thought that he would step in and take this company public.

i actually said i didn't think he would do it because of in part the regulatory scrutiny that would come with it and he doesn't want to look like a plutocrat. i was wrong. i will admit that. the total before the announcement, the stock is up 12% premarket, the total value of twitter was only about 11% of elon musk's net worth. so he could actually spend all of his own money to buy this. i would suspect that he would get banks to help him raise the financing to do it. but this is a huge undertaking. let's see if he follows through with it. he did offer to take tesla private at 4, 20 a share which turns tout be a joke for his girlfriend which got him in trouble with the securities and exchange commission. this seems to be a great deal more serious. maria: he says if the offer is not accepted i will have to reassess. now it is up to the board. we are watching this story. it is developing. stay with us on this.

elon musk wants to take twitter private, acquire 100% of the stock at 54, 20, the stock is up 12%. stay with us. we'll be risk bag with more on elon musk bashar al-assad right back with more on elon musk, twitter and the bank earnings coming out. ty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪

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maria: welcome back.

we have been reporting the breaking news this morning of the moment elon musk is offering to acquire twitter for $54.20 a share, twitter stock is up about 11 and-a-half percent right now. meanwhile, russia's war on ukraine now in day 50. this morning we are learning that the flagship of russia's black sea fleet was seriously damaged after ukraine successfully struck the ship and we are told it then began to sink. meanwhile, the biden administration has announced a new $800 million aid package for ukraine. it includes helicopters and armored personnel carriers. joining me right now at the heritage foundation national security vice president james carfano. your thoughts on where we are on this invasion of ukraine. it seems increasingly the russian military is falling

short. >> yeah, so, look, there's no predicting here. if we take all the tea leaves that we have and put them out there i think this is what we see, a combination of three things that go together. clearly, putin is signaling there's going to be another offensive. they publicly announced they've amassed 60 or 70,000 troops in the south. it's not enough to conquer the country. there must be a tactical objective in mind. it appears he wants to culminate the fighting on some kind of military success. he talks about may 9th. that's when the russians celebrate the end of world war ii. he sees great symbolism there. we have to look at continued strikes against civilians, he's trying to wear down the will of the ukrainian people with the strikes all across the country hitting civilian targets, saying do you keep want me to punish, keep want me to flatten your

country. the third factor is they have hundreds of thousands of ukrainians that they forcibly repatriated to russia, those are bargaining chips. i would say it looks like putin is putting his strongest case together to have strength and a cease fire for a negotiation. maria: what is the significance in your view of this missile cruiser mosba abandoned apparently by the crew after the ammunition blew it up. russia's defense ministry said that the crew has abandoned it. ukrainian officials say their forces hit the ship with cruise missiles and it sank. your thoughts on the significance of this. and then i want to get your take on the wall street journal exclusive that the u.s. is going to provide ukraine with more intelligence and heavier we upon as well -- weapons as well. >> this is the biggest and most powerful ship that the russians had.

so the ability to hit it takes away the freedom of action for them to operate from the sea. they've done amphibious operations in the past, they've done resupply. to be able to hold that at risk takes another dimension out of what the russians can freely do against the ukrainians. that's really important. the other thing is i think we think long-term, these russian ships are pretty vulnerable to anti-ship missiles and it's going to show that that if nato strengthens its nato capability with missiles that the naval component of the russian navy can be diminished. i don't think the heavy equipment is going to get there in time for the next offense off. what's going to be more -- offensive. what's going to be more important is the intelligence sharing. maria: it's interesting because putin appears to not be backing down, right? russia this morning is warning that if sweden and finland join nato, moscow would have to

bolster its defenses and deploy nuclear weapons to the baltic region. they are taunting us with nuclear weapons. both countries have been considering joining the alliance as you know. finland expected to make the decision in the next few weeks, james. how does this play out? >> well, look, i don't think this really changes the reality of this. nato could never defend its northern flank without sweden and finland. russia could never attack nato's northern flank without attacking finland and sweden. this acknowledges the reality, we're all in this together anyway. they bring a lot of capability to the table for nato. i don't think it's changes the military balance and i think the russians may do that but i think what we've seen in this conflictand this is super impors that the extended nuclear deterrent umbrella of nato, u.s., france, u.k., the russians fear that. and they'll fear it when sweden and a finland are in there too.

maria: okay. so you do think they'll enter nato? you think they will move forward? >> well, that's -- all the reporting right now, all the people i talk to say that the fins and the swedish people are behind this so that certainly looks like the direction. there's a meeting in june. looks like they're going to have an application to nato on the table by then. maria: got it. james, thanks very much for being here this morning. we'll take a break. when we come back, elon musk's big move, the tesla ceo now offering to acquire all of twitter. twitter stock is soaring this morning. the price that musk is offering, 52, 40, we are on it all morning long. stay with us. ♪ ♪ i'm the latest hashtag challenge. and everyone on social media is trying me. i'm trending so hard that “hashtag common sense” can't keep up.

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the tesla ceo making the announcement this morning. cheryl casone with more details right now. cheryl. cheryl: maria, we're getting some more information here on all of this. this information was all contained in an s.e.c. filing. it's a p nonbinding proposal to buy twitter, 54, 20 a share. musk said he engaged morgan stanley as the avieder on the are -- advisor on the proposal. it's a, quote, best and final offer from him. he says twitter should go private to make the changes needed and if the offer is not accepted he would need to reconsider his position as a shareholder, a direct quote from the letter. he also says, i quote, don't have confidence in management nor do i believe i can drive the necessary change in the public market. also, another quote, maria,ic you'll find this interesting. he says i invested in twitter as i believe it has if potential to be the platform for free speech around the globe. i believe free speech is a societal imperative for a

functioning democracy. okay, the stock look at this, twitter up more than 12%. it hit a premarket high a few moments ago. this is a valuation of twitter of $43 billion. on the other side, we're also watching tesla because look at tesla. it is actually lower in the premarket and that move happened when all a of this news broke just a few moments ago. we're on the story on fox business today for everybody. all right, let's move on to another headline we're watching this morning. the cdc extending president biden's mask mandate for public transportation for another 15 days. this mandate was supposed to expire on monday. extended after a slight uptick in covid cases they say. to the applause of nobody, by the way. twitter erupting with a chorus of users. a lot of people saying, look, great, this is going to do it. two weeks, that's really going to help. airline and a travel groups have been pleading for this rule to expire. dr. fauci hinting it could be

extended even further. watch this. >> it's a moving target. we want to see what the pattern is here in the united states. i think making a decision for april 18th i would agree that we really do need more time. cheryl: and airline ceos point out, maria, people are allowed to congregate in restaurants, schools, sporting events, none of these venues are equipped with the air filtration system that air pipelines have. the northern plains have been slammed with one of the biggest blizzards in a quarter century. one town seeing 47 inches of snow in one night. wind gusts reaching 40 miles per hour. at least one possible tornado reported near louisville, kentucky as a severe storm outbreak hits the midwest. stay up-to-date on the weather in your area, download the fox weather app or go to foxweather.com. you might be waiting for that new macbook for a while. there are deliverly estimates

pushed until june, the date range for the lower end configuration could be may 26th for deliveries. covid in china contributing to delays. apple laptop manufacturing halting production in china because of those lockdowns we've been talking about. take a look at what's happening in shanghai. apple, the stock is down in the premarket. those are your headlines from here, maria. we're watching all these headlines on twitter and we're waiting on the banks for earnings. maria: you're talking about the apple mac. meanwhile, shanghai residents are facing food shortages. i mean, this situation is getting worse in china. and cheryl, your reporting on the cdc just to be clear, the cdc is considering extending the mask man day. yet it was the cdc that said they're going to revoke title 42 at the border. so i don't -- cheryl: exactly. maria: i don't get that. cheryl: leave the southern border open, maria, but yeah, let's make sure that everybody on airplanes including

2-year-olds are still wearing a mask. i'm not sure what they're doing anymore. it's ridiculous. maria: yeah. the white house asked yesterday if president biden takes any blame for any of this including record high inflation. watch this. >> does the president acknowledge any responsibility for the inflation that we're seeing now based on the decisions that he's made when he came into office? >> i would say as the president has talked about quite a bit there, are a range of factors including the pandemic, the impact on the supply chains, we've also seen given energy is such a significant driver of this data an increase in energy prices of the last month plus since the invasion of ukraine. >> does he take responsibility for his decisions, like some say the american rescue plan boosted demand when it didn't need to. larry sommers was one of those. >> the alternative would have been we would have gone into a massive downward spiral and many americans wouldn't have had enough food to put on the table so we chose the other path.

maria: joining me right now is georgia congressman buddy carter, a member of the energy and commerce committee. he is also a member of the gop's doctor's caucus, a former pharmacist himself. congressman, it's good to see you. thanks very much for being here. so your take on what you just heard. obviously the biden administration is blaming everybody but its policy even though we have the inflation timeline here and when joe biden walked into the white house last year in january, inflation was literally at 1.4%. and you look at all of his moves in terms of spending, in march of '21 signing into law the covid relief package, inflation jumps. later in the year, the democrats pushing their spending package which was $5 trillion spending package really but they said it was 3.9 trillion. inflation jumps up to 5.4%. that was july. by november of last year, biden signed in the $1 trillion

infrastructure package taking inflation up to 6.8%. and here we are today sitting at 8 and-a-half percent on consumer inflation. 10.6%, above 11% rather on producer inflation. congressman, do you think the white house is going to acknowledge its policy as one of the reasons for this spike in inflation costing american families so much more money? >> no, i do not. i mean, they're going to do everything they can to deflect blame but let's face it. it is the policies of the biden administration that has caused this record inflation. the highest inflation that we've had in 40 of years. try as he may, joe biden can try and blame putin for this but let's face it, putin wouldn't be in ukraine if it weren't for the weak leadership of joe biden's administration and the worse foreign relations debacle in the history of this country in afghanistan. let's face it, if he wants to blame it on big oil but he's

attacked big oil of and tried to crush big oil for the first year that he was in office. he wants to blame it on covid and yet he continues with all these pandemic related rules and a regulations including wearing masks on airplanes. i fly a lot, twice a week at least, and i can tell you people don't want to be wearing masks on airplanes, flight attendants don't want it and yet they continue on with this. it is the policies of the administration that are causing this. look, elections have consequences. policies have consequences. maria: yeah. well, that's what i always say, bad policy equals bad outcomes and boy oh, boy have we seen a lot of bad outcomes over the last year. but i'm glad you brought up covid. now the cdc is extending biden's travel mask mandate for another 15 days as you just noted. it was supposed to expire this coming monday. congressman, where are we on covid? you've got the cdc extending the

mask mandate but at the same time the cdc is taking away title 42 at the border. i don't understand. >> this is liberal hypocrisy. here we are, continuing with the mask mandate on airplanes but as you point out, the southern border they're coming across unvaccinated, untested. and then we do away with title 42 and you can expect a higher influx of i'm grants now -- i'm grants now as -- immigrants now as a result of doing away with 42. that needs to be extended and we need to continue to enforce that. the administration turns a baseline eye to it. it is ridiculous. to hear dr. fauci who needs to resign, the american people don't have faith in him, they don't have confidence in him and the confidence in the cdc which i think is a great organization, however, it is eroding as well. maria: yeah. well, congressman, before you go, real quick, a lot of issues here on the agenda. you're an elected official.

what are you going to do about it? >> well, what we have to do, we're going to take back the house in the fall elections. i think we're going to do very well. we've got to work hard. we haven't won anything yet. i get it. i understand that. but when we do, we're going to be prepared. we have a commitment with america. we've got task forces working right now so that we can be prepared when we take office, introducing legislation that's going to change the trajectory of this country. maria: okay. terrific. we'll be watching that. congressman, thanks very much for joining me this morning. good to see you, buddy carter joining us on this agenda out of washington. quick break and then elon musk's big move on twitter as he is offering to acquire the entire company for $41 billion. we're on it all morning long. we're going to tell you the latest s.e.c. filing and what it says and then governor greg abbott brings the migrant crisis to d.c.'s front doorstep. that's next. you're watching "mornings with maria" live on fox business.

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maria: well, here of come the rest of the banks. we have a lot of breaking news this morning. wells fargo earnings are hitting the tape. the stock is down better than 1%. cheryl: it's the revenue if you look at the move on the stock right now, the revenue weaker than expected for the company. we were looking for 17.8.

we came in at 17.59 billion. when you're talking billions that's a substantial miss on revenue. earnings per share was stronger at 88-cents. we were looking at 80-cents. they're talking about credit losses. they're saying that likely they're going to see an increase in credit losses. we should be net beneficiary. we will benefit from rising rates but we are expecting some credits losses. the other thing that they're talking about is the war on ukraine actually and about the fed. as far as the fed is going, really quick what they're saying is customers that we are seeing that our path forward is uneven. we remain confident in our ability to continue to close row maining gaps over the next several years, however, the war in ukraine there is additional risk to the economy from all of that. they're saying customers' financial positions, they're seeing strength but they're talking about that the fed has made it clear that they're going to take actions to reduce inflation so that might be kind

of an interesting thing and again, credit losses, maria. we're waiting on some of the other banks. wells fargo is down in the premarket on these results. back to you. maria: cheryl, what does it say about mortgages? are they referring to rates in terms of this fed comment? because this is one of the largest mortgage originators we know. mortgage rates are now above 5%, cheryl. i'm wondering if they have already begun to see a cooldown in that area and maybe one of the disappointments has to do with mortgage as well. what do you think. cheryl: it's interesting. they keep hitting on this issue that their customers, they're saying strength of the customers' financial positions. that's what's interesting. you're right, loans, mortgages are the biggest piece of wells' business. so at this point, you know, they're talking about these provisions. they're releasing 787 million for credit losses but i don't see any headlines yet as far as the loan growth.

let me look really quick and see. average loans, they saw a little bit weaker. average loans, 898 billion. i'm sorry, a little bit -- let me keep going through the numbers. i don't see anything crossing right now. maria: the stock is down one and a quarter percent on wells. twitter is up 11 and three quarters percent on the breaking news that elon musk wants to acquire the rest of the company and take it private and then there's this, another bus full of illegal migrants arrived in d.c. this morning from texas as the white house mocks texas governor greg abbott's latest move to protect his state. listen to this. >> they're all migrants who have been processed and are free to travel so it's nice the state of texas a is helping them get to their final destination as they await their outcome of their immigration proceedings. maria: joining me right now is the texas department of public safety lieutenant, christopher olivares. it's always a pleasure to see

you. what did you make of the snarky remark that it's nice of texas to help these migrants? >> well, good morning, maria. so of course when governor abbott made the announcement last week, as far as bussing i'll legal immigrants to d.c., the first bus arrived in washington d.c. so the governor carried on with the message and promised what he said, transporting the immigrants to washington d.c. the press secretary is correct. these are individuals that have been processed. we can't transport of illegal immigrants that have not been processed. it would defeat the process of what was we're trying to do, bringing the border to washington d.c. so they can see what border communities are having to deal with. we are well aware of the fact that they have been process ted. that's one of the requirement that's they have to be processed. we are just helping them facilitate that transport from

texas to washington, d.c. maria: yeah. so what happens then? i mean, lieutenant olivares, the white house is blaming the governor, right? they're blaming governor abbott for out-of-control inflation now, claiming that inspections of commercial trucks from mexico are slowing the supply chains and driving up prices. i mean, this is just extraordinary that they're trying to blame greg abbott for inflation. what is the impact on trade with mexico? >> well, maria, it has made an impact as far as trade because there is a delay and the commercial vehicles that are coming across from mexico into the united states and the reason being is because now we have these enhanced safety inspectionses on these commercial vehicles. they're very tedious inspections, from 45 minutes to an hour when have you to inspect commercial vehicles coming across the ports of entry. one thing is very important, maria, it's very important, very vital to inspect the vehicles to

make sure the driver is in compliance, the vehicle's in compliance with state and federal regulations because these vehicles are operating on texas roadways and we've seen most recently the increase of human smuggling attempts with the use of commercial vehicles where you have human smugglers, smuggling up to 100 vehicles inside commercial vehicles. these drivers don't have the proper driver's license to operate a vehicle such as a commercial vehicle when you have 80,000-pound vehicle on texas roadways, it's endangering the human cargo they're smuggling and the public. that's why the governor, another border initiative, another strategy to combat -- to go after a these organizations but also to put pressure on the federal government and the government of mexico. yesterday was a perfect example of a historic agreement between governor abbott and the governor in mexico when they came to the agreement, the governor of mexico is deploying more mexican police officers, border checkpoints across the laredo international bridge so we can

ease up on inspections. it's a very effective strategy. maria: i see. lieutenant, i know that you're making arrests every day. you had more arrests yesterday and we've talked in the past when i was down at the border with you, spending time with you, you told me that these drug cartels are making $100 million a week just on smuggling humans. doesn't even include the drug smuggling. give us an update on where you are. you had arrests yesterday. are they making that money, 100 million a week? >> oh, maria, i'm sure it's increased by far what we had talked about last year. thats was last year. now the numbers have continued to escalate. you go based off the numbers, based off the data, right now we're at 1 million encounters in the first six months. that goes to show you they are doubling, tripling profits compared to last year. maria: that is incredible. lieutenant olivares, good to see you. thanks very much. stay safe at the southern border many quick break and then elon musk's takeover proposal to

twitter, he is offering to acquire the entire company for $41 billion. hear mark tepper's take in the word on wall street coming up. stock is up almost 11%. stay with us. ( ♪♪ ) ♪ walking on ♪ ♪ walking on the moon ♪ ♪ some ♪ ♪ may say ♪ ♪ i'm wishing my days away ♪ ♪ no way ♪ ♪ walking on the moon ♪ ok, let's talk about those changes to your financial plan.

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maria: welcome back. good thursday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is thursday, april 14th. your top stories right now, 7:0e east coast. we've got breaking news this morning on twitter. elon musk is offering to you

acquire the entire company at a price of 54, 20 a share. that is $41 billion. in a letter to the company's chairman and the board of directors, musk writes that the company will never thrive in its current form adding that twittedder needs to be trans formed as a private company. -- transformed as a private company. twitter shares right now up better than 11%. tesla shares down this morning. this as we look ahead to first quarter bank earnings, wells fargo earnings crossed a few minutes ago beating expectations on eps but missing on revenue. the stock is down about 2% on that news. we are also expecting and waiting on earnings from goldman sachs, morgan stanley and citigroup this morning. we are going to be watching loan growth, capital markets businesses, and expenses. the stocks this morning are mixed. we are watching the impact from yesterday's record high producer inflation, 11.2% inflation year over year as the white house is

now attempting to shift the blame for high prices onto texas governor greg abbott. watch this. >> you had mentioned in that statement that the truck inspections have led -- governor abbott has been conducting have led to disruptions to supply chains, rising pricing for families. is the white house blaming greg abbott for inflation? >> i think we're trying to state the facts of what his -- another political stunt that we're seeing happen and the impacts of it. there's over $1 million in trade crossing over the u.s./mexico border every minute. these actions are impacting people's jobs and livelihoods of hard working families in texas and across the country. maria: but we know that inflation has surged under joe biden. it started when he walked into the white house when the inflation rate was at 1.4% and then he signed into law his covid relief package, sending inflation to 2 and-a-half

percent on and on. by july it was at 5 and-a-half percent, november, 6.8% because of his massive spending and then of course we are sitting with 8 and-a-half percent, consumer inflation today, 11% producer inflation because of massive spending and stimulus. we'll be watching whether that cuts into spending numbers from consumers. we will see later today the march he retail sales, they are expected to be up six tenths of a percent. we'll get you the numbers as soon as it hits the tape. markets this morning are higher, the dow industrials right now showing a gain of 65, s&p 500 exactly where it closed yesterday, nasdaq up about 6 points as we speak. this after all three major indices finished higher yesterday. the dow industrials were up 344 at the close, better than 1%. nasdaq was up 272, better than 2%, and the s&p 500 higher by 49 at 4:00 on wall street. yields meanwhile moving this morning, take a look at the 10

year treasury, now pulling back by seven tenths of a base basis point, not far off a multiyear high. oil prices this morning are pulling back, crude as well as brent, right now sitting at 107, 56 on brent, down 1%, crude oil is 103, 24, down about 1% as well. european markets are flat ahead of the european central bank meeting. we'll hear from christine lagarde and get you the headlines out of the ecb meeting. cac is up 47 and dax index higher by 24 right now. in new york, crime, the nypd hazard frank james, the suspected subway attacker. james reportedly faces a terrorism charge and prison time. he appears in federal court later today, stay with us on that story as it is developing. "mornings with maria" is live right now. and it is time for the word on

wall street, top investors watching your money. joining me right now strategic wealth partners president and ceo, mark tepper and creative plan aing ceo and chief investment officer, pierre maluu. great to see everybody. thank you for being here. mark, want to kick it off with you with the breaking news store riff of the morning, twitter shares up 11% right now as elon musks is offering to acquire 100% of the company for $54.20 a share. twitter as you can see is up 11%. musk is offering $43 billion price tag for the entire company in an s.e.c. filing, the tesla ceo made his intentions known and he wrote a letter to the chairman of tbitter saying this, -- twitter saying this, since making my investment i realize the company will neither thrive nor serve the societal imperative. twitter needs to be transformed as a private company. mark, your reaction. >> i absolutely love elon musk.

guy's my hero. everything he touches turns to gold. we all know he doesn't give a damn about being politically correct. he's a component of free speech. twitter has had awful leadership over the last several years so there's room for a ton of i've provingment and if any-- improvement and if anyone can do it it's probably elon musk. he's publicly stated twitter needs to hold an unbiased point of view on users' comments and not cancel people that have different opinions and it's the town square approach to free speech we talked about in in the past. easy tweeted a week or two ago, it was a survey, i found it interesting, asking if people wanted an edit button. that's something users have been asking about for such a long time but there's been zero response from twitter. why haven't they done anything about that? and this is so interesting because i was talking with my brother-in-law on monday about this at a dinner. i told him twitter's market cap was under 40 billion at the time andy long could easily -- elon could easily write a check for

the entire company. his north worth is just shy of 300 billion. it's a drop in the bucket. hype net cliz i would love for this -- hypothetically, which love for this to happen. will it happen? i don't know. he said it was his best and final offer. his offer's a 40% premium to the 39 bucks it was trading at but the stock was 70 bucks last year. i hope it goes through. i would enjoy using twitter even more if elon owned it and was making the decisions but we'll see. maria: you say it's a 39% premium. elon musk is saying that at 54, 20 that represents 54% premium over the day before he began investing in twitter. so he's talking about a 38% premium like you say over the day before his investment was publicly announced but before he actually started buying the stock, he says this is 54% premium. he says if it's not accepted i

would need to reconsider my position as a shareholder. mark, the question is, if the board says no, no, bye-bye elon musk, how far down does twitter stock sell off? >> well, what does he own, 9 point something percent. it's just under 10%. if he goes full blown fire sale and unloads his 10%, twitter could drop 10, 20% pretty easily. selling will -- exacerbate and it begets more selling. twitter's going to crash. maria: it's the musk premium. we want to look at the earnings, peter. wells fargo reported a miss on its revenue, that stock is down but we're waiting on all the other banks this morning and the investment banks, goldman sachs is going to be reporting in about 30 minutes. we're watching that. and of course the beginning of first quarter earnings season is on. what are you expecting in terms

of the banks and the broader s&p 500 earnings news for the first quarter? >> well, i think for the first quarter it's going to be good. i think the question is what's going to happen in the next few quarters. i think that we really have seen inflation which you talked about at the end of the last hour really just take off over the last two years. but i think that there's a hidden component here with inflation that's really going to change the game that we're not talking about a lot, we're talking about the supply chain and which administration's responsible and a i really think where we're going to get the next wave and it's going to impact earnings all sorts of companies is going to be from the deglobalization that we're seeing because of what's happening in ukraine. i think that what we're going to find here is there was a reason that germany was trying to buy energy from russia. there's a reason we're buying chips from taiwan, there's a reason visa call centers are in india, because it costs less. what we're watching in the background with all the political noise we're watching all these countries are saying

we can't be dependent on other countries the way we were before this and what we're going to see is we're not going to be going to where things cost the least, we're going to where we can control our destiny a little bit more. there's inflation that will impact earnings here going forward and towards the end of the year. maria: it sounds like you are negative here. you selling into any rally then? >> well, i think anything that's speculative. i think the speculative asset game is completely over. that game has been going on for five or six years now. we're going to see earnings soften but the bubble, the bubble that's in the speculative stocks and cryptocurrencies and nfts, all of that i think we're going to see an implosion that's going to be spectacular and it could happen sometime here in the next few quarters. maria: spectacular implosion. wow, that doesn't sound very good, peter. we are watching this market trade up this morning but of course we'll be following your

moves going forward. thanks very much for being here, both of you, mark tepper, peter, good to see you both. thank you coming up, we've got breaking news all morning long this morning from earnings to twitter, elon musk offering to acquire 100% of twitter in a $43 billion all cash deal. what you need to know all morning long this morning. stay with us. you're watching "mornings with maria" live on fox business. new projects means new project managers. you need to hire. i need indeed.

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...starts at miracle-ear. it all begins with the most innovative technology... ...like the new miracle-earmini™. available exclusively at miracle-ear. so small, no one will see it. but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life. maria: welcome back. we have breaking news this morning, elon musk making a $43 billion bid for twitter, offering 54, 20 a share in an all cash deal to acquire the rest of the company and a take it private. twitter stock is up 10 and three quarters percent right now at $50.76 a share. dagen, he is telling the board if my offer is not accepted, i will have to reassess my entire position which would be about 50

50% lower from here. dagen: this opens up a giant can of worms for twitter because if they don't step up and accept this offer, then the bottom could potentially fall out and would any other suiter step up with such an offer? i'll note that elon musk is expected to talk later today between 11:30 a.m. eastern and 2:30 p.m. this is -- i think it's later today. but the -- this is a ted talk that we're expected to get comments from him. i know mark has already hit on the free speech issue but elon musk calls himself a free speech absoluteist and so if people are afraid of elon musk getting their hands on twitter, what are they afraid of? that there will be other opinions on the social media site, that donald trump, the former president of the united d

states, potential presidential candidate could be allowed back on twitter. he's not trying to influence twitter for his opinion. he's trying to ensure that a everyone is heard in the town square. and this is a really -- that makes this a mega story. one more thing i'll add. i wonder if the twitter folks could or would get in their hot tub time machine and go back and a reverse their suspension of the babylon b, a satire site. i would bet anything that was the tipping point for elon musk to say enough. i will walk the talk and i'm going to put a sliver of my net worth at risk and stand up for what -- the foundation of this country and that's the freedom of speech. maria: yeah. and he says this is his best and final offer. but remember, you know, you've

got to wonder what this means, for example, for truth social. we had devin nunes on the program earlier this week to talk about truth social and the impact of elon musk's stake in twitter. here's what he said about twitter, when i asked him what he thought about the company with elon musk's participation. watch this. >> what is twitter? most americans don't use twitter. twitter is a press release wire, it's a place where excellents go and a put out a -- celebrities go out and put out a press release. it's nothing more than that. i don't know why you want to invest that much money unless you've got some grander plan for it. maria: and then don't forget, you know, elon musk asked him 80 million followers is twitter dying, in step with what you heard from he devin nunes and listen to this an nft of jack dorsey's first ever tweet it's

back on the market but this time around only receiving seven offers from $277 to $6 after selling for $2.9 million just last year. he's now got an offer of $6, mark. this is pretty incredible that you're seeing this conversation go this way, questioning the viability of twitter. mark: the viability of twitter but also nfts as well. i mean, unfortunately whoever bought this for 2.9 million n are learning a very expensive lesson on liquidity. something is only worth as much someone is going to buy it from you. you have to be able to sell it to a greater fool. 20 years ago when i was in college and a i was broke and i needed beer money for the week and i tried selling my ball cards. nobody would buy them. i couldn't drink any beer that

weekend. i learned my lesson at that point in time, you've got to invest in stuff that's liquid. dagen: can i add one thing about what devin nunes was talking about? there's a lot of value to be unlocked in twitter and that's what elon musk says. if you carefully try to seek out differing opinions, there's some incredible minds communicating in the twitter sphere but the management of twitter and the left wing nuts, musk is trying to fight the idea that nobody is allowed to have an opinion unless it's the shared opinion of left wing orthodoxy and there's so much incredible analysis buried in twitter. i could go through -- there was a tablet magazine article that was tweeted out by neil ferguson, just the other day, about princeton's president is discarding free speech and

demonizing its defenders. it was in tablet magazine. maria: terrible. dagen: there's a lot of value there. you just have to let it fly and that's why elon musk is making the bid. maria: look at the 2020 election. they censored the hunter biden laptop of story, they censored the origins of covid escaping from a lab. this is not free speech. this is as you say orthodoxy, a narrative, a an ideology of the leadership of twitter. maybe not anymore. we'll be right back. what if you were a gigantic snack food maker?

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maria: welcome back. republican house lawmakers are pressing the biden administration in a recent fox news report that the customs and border patrol could be sending veterans affairs doctors to the southern border to help with expected migrant surge. the va personnel would give migrants covid shots and other medical care, over 50 republican lawmakers writing a letter to homeland security secretary alejandro mayorkas a calling the proposal, quote, deeply troubling. joining me now is new york congresswoman, claudia tenney. it's good to see you. thanks very much for being here. you signed onthe letter along with your colleagues in the house. tell us about it. >> can you imagine we're going to spend even more resources

taking out of the va. we have waiting lines just to give care to veterans who served our nation who can't get surgery, they can't get life-saving care. they're in line. and we have a huge bureaucracy of the va that under the va mission act that i was co-sponsored of and a president trump signed into law, we've eased some of the burden the va has in delivering the care to veterans. now we're going to divert that to the border where we're spending billions of dollars caring for people and i'm not against humanitarian efforts but we should be making our border secure, building the wall as it costs us money every day not to build the barrier, the wall and keep our community safe. maria: they are removing title 42. instead of sending illegal migrants back home, they'll get doctors there to help care for them and give them covid shots. i mean, that is the plan. i'm a little confused about where we are they in covid.

because the biden administration is extending the mask mandate on planes and yet they're removing title 42. >> yeah, it's totally duplicities, it's all about politics. everything that the biden administration does reminds me a lot of the former mayor de blasio of new york, just when you see the common sense issue is let's secure the border, let's make sure that we keep something like title 42 in place where we have more than covid problems, we have -- i've been to the border. you've been to the border. i watched as they took care of children coming into the border, the doctors examine them, that costs taxpayerers money. they had diseases like lice, hiv aids, all kinds of diseases, not just covid-19. i think the authoritarianism, it

reminds me of de blasio. de blasio is probably the worst mayor of new york in the modern era. i see the biden administration acting much the same. just when you see a common sense solution, they do the opposite and make it even worse and you wonder if there's a political calculation in that which i'm sure there is. maria: well, that's what all of the ags were talking about when i last went to the border and met ags from across the country who said every state is a border state because of the enormous number of drugs coming in, the fentanyl coming in and the smuggling. but you mentioned de blasio and new york city. let's talk about the alleged new york city subway shooter, frank james set to appear in court just hours from now, congresswoman. he was arrested yesterday as you know after a 30 hour manhunt. james is now facing terror related charges, possibility of life in prison. meanwhile, new york lieutenant governor brian benjamin resigning after being arrested in connection with an alleged bribery scheme and coverup.

what is the root cause of this problem in new york? crime is skyrocketing. we know that the bail reform was a complete disaster. what do you think it is? >> well, leave it to new york. there was a little bit of lasting corruption issues. we had cuomo last year. it's been a little while before somebody got arrested. when i was in the new york state assembly seems like almost on a weekly basis someone if the assembly, the senate or government was being removed from office for public corruption. it's public financing. the politicians don't handle the taxpayer money when it's transparent and in the budget, look at what governor hochul just did with the record $220 billion flush with cash from the american rescue plan. imagine what they're doing if you give them public financing of campaigns which by the way nancy pelosi is proposing in hr1. you see this kind of corruption just take advantage of it.

the absurdity of lieutenant governor benjamin using this as a pay to play scheme much like the other new yorkers before him, the new yorkers who have been taken out in handcuffs at the capitol. the issue with the police is what really concerns me and i hear about public safety and the fear that people have on the streets. it's not just new york city. it's all over new york. and honestly, this situation with new york by defunding, demoralizing the police, defanging them, taking away their ability to keep us safe using the best technology is the reason we're having such a problem with crime, not just new york city, but throughout the state. maria: it's very concerning, you're absolutely right. during the campaign kamala harris said she wanted to have bail reform prevalent across the country, not just in new york and san francisco. so now -- i mean, there's just so many issues to discuss. the whites house is considering apparently, according toreports, that they're going to send vice president kamala harris or

president biden to kyiv, ukraine, to meet face-to-face with the ukrainian president zelenskyy after another round of lawmakers visited the capitol city yesterday, the leaders of poland, lithuania met with zelenskyy following british prime minister boris johnson. what do you think kamala harris could bring to the table, should she go? >> this is another de blasio move, like what looks like the worst thing you can do, they do it. she failed miserably protecting our border. she made a fool of herself on the national stage at the beginning of the situation and now we're going to send her back? this is going to be a bad look for the administration and i don't understand why they keep putting her out in public because she's proving she can't handle the job. it's really a disaster. maria: all right. congresswoman, it's great to see you, claudia tenney, thank you. we have breaking news, morgan stanley earnings are out, let's get to cheryl casone.

the stock is up right now. cheryl, what can you tell us. cheryl: you've got a double beat on morgan stanley, 206 adjusted for earnings per share, the street was looking for a buck 68. that is a very strong beat on earnings per share. and revenue a beat as well. a nice beat, 14.8 billion. we were only looking for 14.27 billion. investment banking revenue strong for the bank, 1.76 billion. wealth management, the net revenue, 5.94 billion. morgan stanley has been trying to push into wealth management. institutional sciewrtle on the fixed income -- sciewrtle on the fixed income side 2.92 billion. looks like they're also saying their compensation expenses, those bonuses, we love to talk a about that on wall street, 6.27 billion for compensation bonuses. so there you go. that is the morgan stanley numbers. and they also are talking a little bit about market volatility. they said investment management

assets under management were impacted by -- this is interesting -- market volatility and outflows. people were getting nervous in the first quarter of this year with everything happen aing geopolitically. stock is up 3%. we're waiting on goldman. i've got my eyes on it. back to you. maria: we are watching that. big move in morgan stanley. stay with us. we'll be right back. at jp morgan, the only definition of wealth that matters is yours. it can be a smaller house, but a bigger nest egg. a goal to work toward, or the freedom to walk away. with 200 years of experience, personalized advice, and commission free trades on an award-winning app, we are working for you. planning. investing. advice. jp morgan wealth management. (vo) for me, one of the best things about life is that

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simplified access to crypto and decentralized technologies through a single investment. defi technologies. maria: welcome back. we've been waiting on goldman sachs earnings. they are out. cheryl casone with the numbers right now. stock is up, cheryl. what can you tell us. cheryl: it's a good quarter for goldman, the stock is up almost 2%. a strong beat of on revenue, 12.93 billion. while that is down from a year ago a on a percentage basis, it is still a strong revenue number from goldman. now, the number i'm seeing for earnings per share at this point and if i have to adjust it i will in a moment but right now i'm seeing a 10, 76 earnings per

share, 10, 76. we were looking for 889. i will correct that if an adjusted number comes out. if you look at the meat of the report, what's the fixed income business, what is investment banking. revenue investment banking, 2.41 billion. that is in line with what the street was expecting. compensation and benefits, 4.08 billion. again, it's nice to work on wall street, folks. asset management revenue, 546 million. that is another number that's crossing. consumer and wealth management revenue, 2.1 billion. operating expenses, 7.72 billion. but anyway, you do have a strong double beat, again, on goldman sachs. they are talking a little bit about the environment which you would expect them to say. they're saying, look, the rapidly evolving market environment did have a significant effect on client activity. that's probably not breaking

news to you, maria. they're also talking about the fact they have to have provisions for credit losses in here. i'm sending it back to you. credit losses, the provision, 4.75 billion attend of the first quarter. there's goldman for you, stock is up almost 2%. by the way, this whole twitter story, morgan stanley advising elon musk and you've got goldman sachs advising twitter. so those conference calls are going to be really interesting this morning. maria: that's a great point, cheryl. i love it. thank you for that. cheryl: you bet. maria: we want to take a look at a what we're getting from the bank earnings and what does it mean for the rest of the year. joining me right now is the odion capitol group chief financial strategist, dick boveee. it's great to see you. i know you've been pouring over the reports, jp morgan as well as what we're getting today. first let's talk goldman and give us your assessment from this quarter and what you see if

any treens coming out of the bank earnings. >> it's looking at the rear view mirror, not looking forward. the expectation was morgan stanley and goldman would have very weak earnings in the quarter and clearly they have beaten and the reason why they've beaten is because there have been significant money flows into the wealth management division because merger and acquisition activity has been stronger than expected, because high grade investment grade bond issuances have been very, very strong because commodity prices have been very, very strong which assists if you trade that type of thing. so i think that there were a series of events in the quarter which you can't count on going forward. i think going forward you have to be guided by what the federal reserve is going to do and the federal reserve is saying it's going to shrink its balance sheet and it's going to increase

interest rates. think about it. the inflation rate is 8, 8 and-a-half percent in the latest cpi number and the last time that happened was 40 years ago. well, 40 years ago the 10 year bond was not yielding under 3%. it was yielding over 9%. and when volcker came in a couple of months after that, he took it up even higher. so the net effect is, is the fed is really -- if the fed is really serious about controlling inflation it's going to have to take these interest rates up substantially higher than they are at the present time. it's going to have to do something to contract the increase in money flow. so while the goldman numbers look great, while the morgan stanley numbers look good and even if you were to subsect the jp morgan numbers and look at trading and investment banking, those numbers were pretty good. i just don't see how that's going to continue in the next couple of quarters. maria: well, look, we know that the loan loss provisions have been critical.

i want to get your take on what you're seeing there. you're right, inflation is the come nearing story -- dominerring story here. inflation data higher than expected. 40 year highs. jamie dimon mentioned it in his quarterly report. he says no one actually knows what's going to turn out so i'm not predicting a recession but you know, is it a possibility, absolutely. dick, are you predicting that we'll seize's see a re-- see a recession this year and how does that blanket over the earnings and guidance that you're seeing? what's the impact? >> yeah, i do think we're going to see a recession this year and i think the recession is going to be driven by the fact that -- just take mortgages, right. simple example, everybody can understand. you know, a year ago if you bought the average house and you put the average down payment down on it it would cost you $1,400 a month. this year in the same situation it costs 1800 a month and i almost am willing to guarantee

you it's going to be over 2 grand a month when you go forward. you reported beautifully in terms of the increases in the prices of all of the things that people buy, whether it's gas or bread and the bottom line is if that continues, and i think it will, it's got to result in a very sharp response by the fed and that sharp response has got to be to kill demand and if you kill demand you are in a recession. and that's going to kill bank earnings. maria: so dick, do you want to buy bank stocks or sell them here if i mean, how are you allocating capital given this overlying worry about the macro story, consumer, mortgage rates above 5%? >> well, you know, my feeling is you just can't walk away from the market at any given time. so there's certain banks that i always say safety valves. i think bank of america is a safety valve company. i think looking at some of the

big regional banks, you know, we think comerica is clearly safe but in general i would not beal low of kateing new funds -- allocating new funds to banks at this time. maria: and i know that you see big problems at fannie mae. we're going to get to that next time. we will take a look at what's going on in the mortgage originator as well. dick, it's good to see you as always. thanks very much for and-a-half a gaiting these earnings with us -- navigating these earnings with us. we appreciate it. market up 94 on the dow. dwiter way off of the highs -- twitter way off of the highs. back if a moment. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer

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maria: welcome back. now to the biden family influence peddling, hunter biden's family currently not bothered by his criminal probe and ethics questions. hunter biden's wife offering a thumbs up on tuesday when asked about how her husband is doing, senator ron johnson currently doing his own investigation into biden's corrupt deals and influence peddling with official across the world. he joined me last week to discuss. watch. >> the dam is breaking. i think a lot of information is coming out. hunter biden's laptop, the mainstream media is reluctantly admitting that they certainly should have opened their mouths. now that we know they had possession of that, when the 51

former intelligence officials basically engaged in their own information operation by saying that the laptop had all the earmarks of a russian information operation. maria: joining me right now is the washington examiner's chef f political correspondent, fox news contributor byron york. you can't write this stuff. i mean, the 51 intelligence officials who signed their name to that letter, saying that hunter biden's laptop was russian disinformation, the republicans want to investigate that should they get the majority in november. your thoughts on where we are in this probe and why the media, the mainstream media seems to be now admitting the truth that influence peddling is a serious issue and, yes, the biden laptop and its contents were real. >> well, there's a few new developments actually, valley biden owens who is -- valerie

biden owens was asked very, very gently, do you sometimes worry that maybe hunter biden's business dealings kind of make him look bad and she was adamant. she said there is no there, there. no there, there. so the white house is still absolutely stonewalling the whole thing so that's important and we know -- we're getting reports out of the grand jury investigation in delaware that they're asking more and more questions. we have a report that they have asked at least one witness who the big guy was and that was hunter biden's way of talking about his father, joe biden. and lastly, we know they're looking at all the complex transactions in which hunter biden got money from foreign sources and whether he fully paid his taxes on it. for example, he had a business associate in kazhakstan and they know that the business associate in kazhakstan using a company in

singapore wired $142,300 to a company in delaware which the very next day wired the same amount, $142,300, to a car dealership in new jersey. the purpose of which was to buy a high end sports car for hunter biden. so the question is, were all the taxes paid on that money? and so you look at examples like that, that is what the grand jury is doing right now and apparently, apparently they're moving closer to a conclusion. maria: and there are other examples, similar to that. john solomon this morning is out with a piece saying that memos gathered by the fbi show a pattern of hunter biden mixing business affairs with a hunger charity and john solomon writes while his father's eight year tenure as barack obama's vice president was underway, hunter

biden received a remarkable overture back in 2015, one of china's richest businessmen wanted to make a sizable donation to the world food program which was led by the u.s. based nonprofit dedicated to the wppusa, a u.s.-based dedicated to supporting the world food program but soon the memos gathered by the fbi showed that the charitable discussions evolved into an expanding relationship between hunter biden and the chinese energy giant cefc and that is the company that you referred to when you say 10% held by h for the big guy. where is this going? i mean, do you think we will see an addictment of hunter biden -- an indictment of hunter biden even while his father is a sitting president? >> well, we know that hunter biden has paid reportedly a million dollars, perhaps more, in back taxes to try to settle

this and the question is will that really settle it because not only are there tax issues, there's also foreign registration issues. so right now it appears that the justice department, the investigation seems to be headed toward an indictment. so there's really two parts of the story which is what are they going to do about hunter biden and then when does the story touch on joe biden. there is significant evidence on the laptop of hunter biden and joe biden co-mingling their financeses of hunter biden actually paying some bills for joe biden and we do know i think for a fact that joe biden showed up to meet hunter biden's business associates which was a very big deal. maria: oh, absolutely. yeah, absolutely. and i've said many times, this is not a hunter biden story, this is a joe biden story. we have the text messages from hunter to his daughter, naomi, saying i've been paying the family bills for 30 years and so

he's hauling in all this cash from overseas officials and then paying the family bills. but you know, we want to see accountability and we're still waiting for accountability out of the russia collusion lie. in the latest john durham probe an obama appointed judge is denying former clinton campaign lawyer michael sussmann's request to dismiss the case. sussmann is facing up to five years in prison as you know for telling the fbi he was operating just as a good samaritan, rather than bringing this lie of russia collusion which was made up by the hillary clinton campaign to the fbi. >> you know, for a while sussmann and his allies were trying to claim there was very, very flimsy evidence that he had misrepresented himself to the fbi, that it was only the word of that one fbi official, james baker, the general counsel at the time, only his word that

sussmann had in fact said that he was not working for any client and now durham, the prosecutor, has produced a text in which sussmann said, the day before, i am not coming on behalf of any client. so that's kind of out the window. the other defense they're trying to use is what's called materiality, that is, is the lie he told important and did it change the course of the investigation and that's what the trial is going to be about. maria: well, the republicans want to also investigate the fbi. i mean, we have to see where the fbi was on all of this. we know they were sitting on the hunter biden laptop while the democrats impeached president trump over ukraine. so we'll be watching that one as well. byron, it's good to see you as always. nice to see you back here on the program and we'll talk soon. thank you, sir. byron york joining us, washington examiner. >> thank you, maria. maria: we'll be right back. all right. thank you, sir.

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extrapolate. >> . maria: welcome back now "hot topic buzz" approval underwater sinking fast new quinnipiac poll shows president biden approval rating at a new shockingly low at 33%, this as berkeley igsas many poll shows vice president kamala harris approval 35% in home state california l.a.

times says only 42% californians approve of speaker nancy pelosi, dagen this is in charge nancy kamala joe. >> what month? for how long if talking about nancy pelosi, name one thing that they've gotten right. that is why the approval ratings are so low. maria: um-hmm. yeah, unfortunately, impacting american family across the country coasting more o money empowering our adversaries citibank, reported earnings check stock over to you. cheryl: there it goes stock up almost 2% right now double beat, he earnings, per share coming in 202 we are looking for a buck 55, we came in that is a beat we beat on revenue, for citi 19. billion street looking for 18.15 billion, one

thing though here, 15.4 billion, for loan losses that is a big number set aside for loan losses, company is also giving some breakdown as far as comments from ceo james frazier, geopolitics dampened performance in wealth management theme from all banks so far saying the current macro backdrop impacted investment banking in quarter, we saw contraction in market activity talking about they were seeing as far as well banks have seen volatility also the worry, that we saw, but, again, it you know, loans overall 660 billion that is actually down about 1% year-over-year. again i got to go back to this total allowance for credit losses a big number he personal banking wealth management 5.9 billion that is

down 1% year-over-year, global wealth management, also, was lower 1% year-over-year, if i could income revenue, 4.3 billion that is a decrease 1%. and looking for comments from frazier, obviously, when call starts will get more interesting, but, the overall, for citi the end of the day back to you. maria: stock up 1 and 2 swlsh 3% international he wealth management jamie dimon said we could see losses up to a billion dollars because so many companies pulled out shut down operation in rub once they invaded ukraine see if a material number at citi, mark tepper your thoughts what we're seeing out of the banks, cheryl mentions loan lows reserves we need to focus on the consumer given the fact

expecting a much slower growth story we will get retail sales numbers out about 30 minutes, mark? >> a slower growth then money evaporated consumers relying more and more on credit cards we know how that ends, cheryl brought up a really a good point, which is the wealth management and asset management divisions jpmorgan, goldman sachs morgan stanley now critic group have come in very strong great businesses because all recurring revenue my concern, with those divisions is you know there is a lot of people talking about a potential recession out on the horizon given hailed winds we are facing maria. i think you mentioned earlier in the show stephanie pomboy mentioned a profit recession if you look at this quarter, we're expecting 6% orientation growth if you strip out energy it is expected less than 1% so if we do end up in a recession, obviously, asset

levels come down asset management wealth management divisions will suffer right now strong but a year from today who knows. >> yeah, stock at citi up 1 1/2% generally speaking we are seeing better numbers have on the banks this morning, let's get more reaction from from crossmark chief investment officer bob doll breaking news your take on earnings news that we're seeing this morning, out of major banks whether or not you expect a sharp slowdown, in the broader macrostory? >> show a bank earnings are coming in better than people thought maria. you know there are issues, but, always parts of the bits that are doing well, pricing seems to be the holding up reasonably well, of course, coming into this banks had horrible stock pomdz people were expecting disappointment reasonable well big, slowdown

no slow down yes can't keep up the pace look at job growth, economy slowing, but i think it will be good enough, for lots of companies to keep earnings of profiles reasonably good not as good as last year we are slowing deceleration not a positive. >> nancy lazar has been talking about 1% growth to all of 2022 bob. i wonder how you want to lotto the capital growth? do you want to go to the dividend pairs one in focus twitter up this morning now up only 6 1/2%, i should point out that it had been up 11% earlier in the show after elon musk filed with sec, officer to acquire haundz to pay 54.20 a share that value twitter 43

billion dollars, tesla ceo wrote to the board saying making my investment i realize company will neither thrive nor serve he societal imperative in current form twitter needs to be transformed as private company we haven't heard on this elon musk bid what is your stake? >> well, i think that, first of all, predicting what elon musk is going to do way above my pay grade, you know what he does all kinds of things, but look. i think it is fascinating he is diving into this recognizing some changes in our society that relate to media who can say what when they can say it i hope he makes some progress here to get back more toward, free communication, free, open markets, we need to move in that direction, i think that is his intention. maria: for sure, and i think

everybody wants to see that. our freedom of speech is protected. how do you allocate capital in an environment where things are slowing, and inflation is at 40-year highs? we saw march numbers bob you saw them 40-year highs not just on the consumer level but thank you producer level as well, 11%, 11.2% inflation yesterday on the ppi, we are looking ahead to retail sales, we will get o retail sales import prices out about 20 minutes. do you think sky-high inflation is cutting into retail sales the estimate 6/10 of a per, who knows you know inflation numbers hit hardest at lowest income levels the people that can make a difference at margin i know smaller tickets we got to watch them very carefully, look, allocating capital is difficulty in this environment i think this is a year going

to -- frustrate bulls and bears if accurate teldz me when bears reigning i need to nibble on things conversely real faith all green i think atrading sort of year, frustrating. maria: a trading sort of year, okaying so you are not making any commitments here, if you want to watch things as they go? you said -- sitting on -- >> i don't have much cash at all never do it is where i am within equities, for example, reiterate i think banks need teen owned all concern about the economy pummeled these stocks over last six, eight weeks, earnings, same give us another quarter. maria: yeah, i know they are down double digits definitely first quarter all banks, got rolled over, bob, we may very well see where great value is right now good to talk with you always thanks very much

weighing in on all, final word. >> i just say "yes" i want to own growth as well big tech stocks hit hard the ones that have earnings in cash flow i don't want to buy earnings four years from now i want to apply them for now. maria: got it bob good to see you thanks very much bob doll joining us on investing on all of that we will take a break shifting the blame, new york city mayor eric adams now criticizing social media, for not flagging the alleged subway shooters on line videos don't worry about cameras that were not working. plus, tv host you a thorough kathyly gifford is here joining is 30 minutes' time will be here we are waiting on retail sales 20 minutes you are watching "mornings with maria" live on fox business. . ore unpredictable, its possibilities are endless.

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maria: welcome back prime suspect in tuesday's brookline subway shooting appeared in federal cultural today faces terror related charges prison time lydia hu live in brooklyn, new york we hear frank james had a lengthy rap sheet already. >> that is right, law enforcement yesterday frank james run into police 1991 he recently, brooklyn in federal custody going to appear in court behind us on charges related to tuesday's shooting. ended yesterday before 2:30 police officers apprehended 6 62-year-old without incident in east village neighborhood came to light tipster may have been jails we heard from authorities james has history you mentioned with law

enforcement dates back to 1991. nine prior yests from 29 to 199 8 possession of particular tools four times criminal swek act three arrests in new jersey, 1991, 1992, and 2007. trespass, disorderly conduct. >> police believe james allegedly opened fire onboard a subway train as it pulled into 36th street station on tuesday immediately boarded another train rode one stop where he exited, now as of this morning we still don't have a clear motive for tuesday's shooting but police say that is part of the ongoing investigation part of that is going to include looking into james' many social media posts leading up

to shooting tuesday, like you said going to be around ther arained later today in connections to attack on mass transit system. >> what a rap sheet we will watch that later today as you so much lydia hu in new york, this morning, dagen new york city mayor eric adams is also slamming big tech according to mayor alleged shooter's violence on line should have been flagged for law enforcement. i don't know if he said anything about cameras in the subway. >> eric adams raises important issue part of quote i cannot play a song on social media channel that belongs to someone else without them identifying that. why aren't they identifying these dangerous threats. youtube is busy, going after he conservatives, remember

last year, in the fall 1 rand paul was spend for pushing a video discussing effectiveness of masks, concerns of left-wing media organizations on line, off-line dangerously misplayed eric adams wants youtube social media network policing speech of individuals, they won't go after actual violent criminals series threats to peaceful residents of the united states but go after people who don't fall in line with left wing orthodoxy even if mayor adams called it out they are not going to crack down, on actual violence let me remind people twitter youtube among social media companies they isis to

post videos of be heedings atrocities for recruitment purposes didn't take them down until they got called out on it but they are worried about somebody talking about masks or donald trump. they will shut you o down if you do that. >> tried that every sunday on "sunday morning futures" youtube look at "sunday morning futures," sunday morning program always issues on youtube edited out stuff changed wording crazy things that i have winced on youtube that is why enter elon musk trying to get into situation change things by saying that he wants to acquire the entire company of twitter. for 43 billion dollars. we are waiting to hear from twitter management, in the a response, to this sec filing from elon musk, and whether or not this is going to actually change the game, on social

media, censorship has been very much in focus, and part of their business strategy. coming up illegal migrants buffed from texas to joe biden's d.c. doorstep going to tell you about latest bus that arrived this morning in washington when i talk to congressman pat phelan when we come back. . . as a main street bank, pnc has helped over 7 million kids develop their passion for learning. and now we're providing 88 billion dollars to support underserved communities... ...helping us all move forward financially. pnc bank: see how we can make a difference for you. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

maria: welcome back, now they have to flagship russia's black sea fleet is he is seriously damaged, after ukraine said they had a successful missile strike on that ship, meanwhile, the biden administration, is announcing a new 800-million-dollar aid package for ukraine, joining me texas congressman house armed services consumer, air force veteran, i want your take on what has taken place, over the last -- 48 hours or so, where this really flagship part of russia's whole operation he seriously damaged do you see ukrainians winning. i don't think any of us foresaw 50 days into this war that ukrainians would be

departing so well country i go suffering tremendously, of course, the determination something awe-inspiring the russian ineptitude a welcome surprise possible we need to continue to arm them that is why back in november i signed on to a letter with ranking members, encouraging biden administration to send what ukrainians needed then the administration coming late to the fight at least finally coming to the fight. maria: the ground is going to get sort of that is going to be harder for russians to have their heavy equipment, and effective how does change in temperature change the -- the combat on the ground in uranium right now? >> yeah, the spring in ukraine doesn't help people that

wantgoing on offense, the russians i tell you the game changer sending f-300 a surface to air sfchg can take out russian jets, 300, in the sky incredibly accurate can hit deep in enemy territory, so those are game changers going to see irng that will help the ukrainians fending off russians in the eastern part of the country. heartbreaking to watch det destruction, you are when you talk about trip to romanian border with ukraine you say u.s. has to continue to send critical lethal non lethal aide what did you see there in romania. >> romania poland moldova, what i saw was heart-wrenching

heartwarming when you see hundreds of thousands people waring with refugees mostly women and children leaving country wondering whether his and fathers are going to be alive form wrenching part heartwarming seeing romanians poles opening up homed to over four medical refugees there are no major refugee centers in countries because people in those countries have opening up homes to ukrainian families. >> i agree it is incredible to see the strategy i was speaking with first lady of poland was telling me it is so costly they don't have space to set up centers so polish families will you open up home heart to ukrainians they said "yes" we will do it giving families money to do it a beautiful part of that story, i agree.

let me switch gears did you about our border southern border with mexico because a second bus of illegal migrants has arrived in washington, this morning, from texas. you know texas governor greg abbott said he is going to transport migrants who show up at border from federal custody to from texas to washington. and first bus arrived yesterday second one came this morning because this administration, is about to lift the title 42. and that is going to end may 23rd, we are expecting unprecedented surge of migrants 18,000 people a day, with congressman how do you think this is going to play out? >> when i caucus customer journalists when 3500 a day stretches customs and border patrol resources to limit when 5,000, 8,000 there are a lot of the border unmanned a hundred miles at a time cartels, do this purposely

make 4,000 dollars a head with every person they simultaneous across the border flood sectors stake across illegal products what governor abbott is doing i love i think i should send buses to nancy pelosi's in. >> san francisco, if blue states want open border let them deal with consequences. maria: look, i don't know how this is going to play out, where do migrants go? you know once in washington, are those people that you mentioned really going to have an impact? you know, just because they are in washington or just going to jump on amtrak come to new york? >> a probably, this is about what we need to do we need to secure our southern border president trump, had protection protocols if you have asylum claim wait in mexico while that day claim is

adjudicated number one for reducing illegal border crossings joe biden lifted that as soon as he got in office we had a crisis catastrophe i don't know after that, we are waiting on economic data the retail sales number in a minute we will see if inflation, is cutting into it i got to get your take on the impact, and the detail of joe biden's 5.8 trillion-dollar budget have you got 17% increase spending irs, tens of billions climate change when it comes to defense spending increase of 4% not even keeping up with inflation. inflation running 8 1/2% that means your actual seeing a budget from this president this environment adversaries are rising, a decline in defense spending, okay? explain that maria it is inexplicable what we're doing in real dollars joe biden

wants to give reduce our military purchasing power by 30 billion dollars in environment in a world, where iran is trigger hair away from a nuke weapon largest land invasion in europe since world war ii china at a rise increased defense spending by 7% trying to get to parity we kavnt that in this war, extraordinary we are watching all the developments will check back with you soon so pressure your time and leadership on all of this thank you for joining me. >> thank you, god bres. >> we will see you soon, a market up this morning ahead of initial jobless claims reel sales import export prices as we speak you do up 40 s&p down two 1/4 cheryl casone take it away a host of reports. cheryl: i start with retail sales big one month-over-month jump .5% a half percent looking for .6% a little bit

less than expected, but if you strip out if you strip out autos, 1.1%, that is actually hotter than expected. now going to i want to go to claims data interesting here, continuing claims 1.475 million that is at least a 52-year low, at least maybe more, i can't do math that fast but do i my best, all right go to jobless claims for the week, looks like the -- jobless claims data, for the week-over-week, poland -- -- continuing claims -- >> sorry, initial jobless claims 185 k, 185 k hotter than expected on claims, 185 k looking for 171 but continuing claims number that is -- a new low new 52-year low we haven't seen these since 1970, i bring up labor market to you obviously, because this is the

labor shortage that is impacting inflation, now to import export looking for 2.3% for import price got 2.6% or import prices gainer 2.6% that is stronger than expected, exports 4 1/2%, 4 1/2% more than double estimate fore export a new record for the export number, two big ones 4 1/2% new record for export prices again going through retail sales, looking he back to you obviously, these are headline numbers looking for, in march a big jump, of course, petroleum prices i am port level jumped 16% huge jump energy story talking about quite a bit. and again looking at that jump on initial claims 18,000 jump week-over-week coming in at

1.85 all, of course, all of this is inflation story every number talking about this morning. maria: i mean i this i this retail sales number is real important because what it is showing us is that inflation is cutting right into our disposable income we are buying things we need food, energy, shelter. we are not spending on other things, because too expensive cheryl, thank you we are watching markets react to retail sales number that is weaker than expected month-over-month. we will be right back with more. we talk about supply chain next taking you right now, when we come back to one of the ports in question stay with us. . . meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice.

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maria: welcome back. white house economists staying supply chain problems will outlast pandemic saying covid ask exposed weaknesses did not create those issues, they

write quote know modern supply chains driven down consumer prices for a many goods they can easily break joining me port of long beach executive director mario o cordero great to have you this morning thanks for being here we want to talk to you about for a few weeks, because so much is happening the last time we spoke you said we probably will see the supply chain issues go into you know mid 2022 perhaps early 23 before shanghai shut down completely 26 million under lockdown what can you tell us in terms your expectations of the supply chain logjams when we could get some relief. >> thank you, maria for having me, number one, you are correct, i mean i think the commentary has always been conditionedor prerequisite of covid-19 trajectory you are seeing in china that number

increasing concerning, so we are almost about -- one month four weeks of those lockdowns, shenzhen shanghai he can affected supply chain in china specifically regarding treking operations issue of labor, so, that is concerning, and that will definitely have an impact in terms of supply chain disruption here in the united states, and global arena for that matter. maria: i mean mario look, let's face it, western companies are feeling the impact, you had production at many shanghai factories at stand still over lockdown rules strict in china apple laptop, computer bushgdz walk being what do you think this is looking like in terms of relief do you have visibility with whether or not this can

stretch into o 2023, 4 and beyond what do you think? >> again, if the zero-covid policy continues rigid way we've seen in china it could have ramifications i think we can best hope for they control that, that is the lockdowns there, and does not spread to the courts in china. for right now i think the conflicts we have record numbers first quarter march for that matter, so, that is going to be something that we are going to continue to look at, including, of course, the inflationary component here now we're at annual 8.5%. maria: yeah, let's talk about that, i want to see what you are seeing in long beach given the fact that the producer inflation came in yesterday 11.2% mario even though i know we've got consumer inflation 8 1/2%, what are you seeing in

terms of pricing? are things much more expensive where you sit? or are we seeing premiums put on products once they get to the stores on store shelves? >> well, certainly, the cargo owners, the retailers no longer reporting pack on passing cost to consumer as we're seeing i think on the other hand we have a robust growth here in san pedro bay complex the consumer demand continues, and you indicated that there have been numbers released with regard to numbers from march in terms of retail so the appetite of american consumer continues, higher -- we are starting to see in global arena the appetite of the european consumer is not diminishing, so that global trade amount is going to be something in terms of going to be something to look at you are already seeing

world trade bank has now indicated that gdp growth now for global trade will be around somewhere around 2.8% a number below the 3% number that they had early this year last couple months is going to be telling. maria: yeah, i mean mario you say that buying power of europeans diminishing, this morning we got the european traditional bank confirming their plan to end their bond-buying program as ukraine war boosted inflation what about applying power of americans we got retail sales number below expectations gain of 5/10 of a percent we have been buying things we feed food, oil, shelter not buying the extra stuff it is too expensive zapping disposable income how will you characterize the applying power of americans. >> i don't think we are going

to see recession at this point, obviously, it is concerning. you see the fed actions have taken place, of course, earlier we were talking about a quarter percent increase, and perhaps i don't know but now talking about half point increase. so, obviously, fed level -- there is more aggressive act of monitoring with regard to inflationary issue, but the other aspect about consumer demand you know also americans are spending more on services, you know that airlines are having challenges right now primarily because of demand for travel, that is another factor that impacts again, the consumer demand for consumer goods. maria: yeah, a great point mario, because the cost of airline flight right now is also up, in the double digits, so we are seeing inflation there as well. mario always gate to connect catch up with you thanks very much for insights on all of that this morning. thank you, sir. >> thank you so much maria. maria: all right mario

cordero a break when we come back tv host author kathy lee gifford here will promote her series "the jesus i know" join us live kathy lee when we come back. . . and battery metals prices with significantly less risk. emx royalty

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christian in this business, there is so much rerejection a brutal, brutal business we have that secret weapon we have the lord with us. maria: clip from new "fox nation" series "the jesus i know" kathie lee gifford explorers personal faith, janice dean, and the author and hope of "the jesus i know" kathie lee gifford. >> congratulations we are happy to have you. >> thank you. >> tell me -- >> for everybody and so nice. >> yes. >> well -- this is -- i am fascinated by other people's stories that is not about the jesus i know it is talking

about other peel completely different from me worship differently vote differently think differently a powerful story what jesus means to them a world divisive, left and right don't parrot same ideology i think this is important a time and place for a book like this, "fox nation" was good enough to say you know about what? we agree. and let's be a voice of more reason acceptance tolerance of one another quit judging everybody else, just because they don't being look like us talk like us worship like us doesn't mean god is not working in every one of their lives because we are all children of god i believe that. >> that is right a perfect time to come up from series because you are right, what has gone non the last five, six years just extraordinary. with the divisiveness what have you learned what did you

take away from all those conversations that you had in terms of people's faith? >> yeah, there are 25 of them in the book i am hoping to get a chance on "fox nation" to tell everybody's story through video as well, i wasn't surprised most people in fact all are my friends i know them from different walks of life i take rabbinical trips to israel i take team that are sheikhs, hindus, every walk of life they happen to be my friends, and so i already knew their faith stories i wanted to tell in video, nothing surprised me, the -- i think going to surprise the viewers, surprising the readers of the book it just affirmed what i already know which is god is an all knowing all loving god

sees us, created so uniquely for his purposes, so i appreciate other people's uniqueness i left college because cookie-cuttering people god went to so much trouble to make us unique, how about human beings, we as a culture whether in the church, or politics, we just want to just make everybody exactly the same like little armies robots. we're not i don't wantb to be treated like that i don't want to treat other people likeable that i want freedom. i want freedom. and god grants freedom of our own will, and -- but, so i am excited i hope i get to do more of them, i am hearing from people enormous pleasing, people say why doing this on fox, a lot of that i go i will go anywhere i am invited to share gospel on jesus that god loves us one and all.

maria: it is very special, because this is not a conversation we have often informative you are having that conversation, writing it, and also doing it on video dagen jump in here. >> kathie it is dagen mcdowell, you exemplify. >> dagen. . >> i wish you were here. >> you don't know me. i love you dagen. >> i love you, too, of the many things i love about you kathie lee gifford you talk about your faith, you share your faith, you sheer your experiences, you did it in the book you are doing it in this special. and i hope that is the way forward for everybody. the ability there are friends of mine in the building here i will yell down a hall will you pray for me i will pray for you i think in the recent decades we went in the other

direction where we didn't discuss faith we didn't discuss god, and the role of christ in every day lives how that gets us through really, the worst times of our lives, how we -- harness that strength. >> i would be dead or in betty ford or bellevue if i had not the lord every single day, you know i can't make it i can't make it through a day, honestly. you know i worked at abc request regis all those years at nbc with hoda, with every network, and, yes, a lot of those places they would say a secretly can i come to your dressing room will you pray for me god has people everywhere it is a environment is he welcome in your environment, i never -- i always had a boldness just i

scripture all the time i don't separate from spiritual we're not supposed to not just visit somebody for an hour in a building on saturday or sunday. maria: that is right, kathie god bless you thank you so much for being here we will check out series we will hope to see you soon thanks very much. >> thank you. >> congrats. >> lord bless. >> happy he easter, have a blessed easter kathie, you. we'll be right back. . . yeah, you'll get used to it. this mom's depositing money with tools on-hand. cha ching. and this mom, well, she's setting an appointment here, so her son can get set up there and start his own financial journey. that's because these moms all have chase. smart bankers. convenient tools. one bank with the power of both. chase. make more of what's yours.

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maria: welcome back. let's take a look at our top story this morning, twitter shares are up about 6.5%, well off of the highs. it was up 11% earlier on the news that elon musk has offered to acquire 100% of twitter, and we are waiting for a response from the twitter board. kelly o'grady is live with more on the story. good morning. >> reporter: yeah, this is like christmas morning for me. so in a fueling with the sec -- filing with the sec, elon musk twitter needed to be transformed. so he's offering to purchase if all shares in twitter.. for $a 53.20 -- 54.20, that represents over a 38% premium over the day before elon disclosed he'd become the biggest shareholder. so what comes next, right in the board is going to review, and they have a fiduciary responsibility to do what's best

for shareholders from a financial standpoint, so some experts are saying that may end with twitter accepting the build. the social platform is facing headwinds many may not want to take on i want to highlight two big questions. first, how is he going to finance this? he may be the rich. ericson: man mt. world, but a lot of his assets are tied up in tesla stock. there are no synergies, no expertise. he may have a vision, but that does not always translate into execution. all this is coming as the sec is scrutinizing a number of his transactions, and he is the target of a class action lawsuit for not disclosing his initial stake in twitter. the best part though of this, maria, is we won't need to wait long for developments, he will be speaking this afternoon, so i'm going to get the popcorn ready. maria: i love it. [laughter] thank you so much. kelly, great questions that you are raising, and we will really look at that and wait for some answers. kelly o'grady, thanks very much.

really interesting points that kelly makes, dagen and mark. final thoughts on this twitter story. dagen: you don't need to have synergies if you're looking at this acquisition as if you're a new age warren buffett. you just buy it because you're ready to unlock value and stand up for what this country was built on, and that's freedom of speech. maria: that's all it's about -- >> if you're a twitter user, you're not going to leave the platform if elon takes over the platform. [laughter] maria: good to be with you, mark and dagen. "varney & company" begins right now. ashley webster in for for stu this morning, over to you. ashley: good morning, maria. good morning, everybody, indeed. i'm ashley websterster in for stuart varney. he's back. elon musk offering to buy 100% of twitter. he says twitter needs to be taken private in order to make the necessary if changes. twitter shares jumping on the news, up