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tv   Mornings With Maria Bartiromo  FOX Business  April 18, 2022 6:00am-9:00am EDT

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four college degrees. she paid it back and said she is not responsible for your student debt. dagen: good morning, i'm dagen mcdowell, in for maria bartiromo. it's monday, april 18. your top of stories, 6:00 a.m. eastern. earnings season kicking into high gear this week, bank of america on deck this morning, ibm, fifth third back, lockheed martin, halliburton, netflix, johnson & johnson coming out tomorrow. looking at markets, futures are slipping ahead of the reports, triple digit loss on the dow right now after all three major
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market gauges fell last week. the biggest loser, nasdaq lower by 6% in the week. crude oil is down, west texas intermediate is at 106, 58 a barrel. the yield on the 10 year treasury hitting a more than three year high, a four year high, topping 2.8%, nearing 2.9%. meantime, european markets are up slightly across the board, gains in england, france and germany. the asian markets were mixed overnight on news of china's first quarter gdp beating expectations of 4.4%, actually those asian markets lower across the board, the hang seng closed today for a holiday. meantime, twitter founder and former ceo jack dorsey seemingly siding with elon musk in the battle with twitter's board of directors. dorsey saying over the weekend that the notion that a, quote, bad board will kill a company every time is, quote, big facts
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and this issue has consistently been the dysfunction of the company. this as four missile strikes hit lviv and ukrainian forces in mariupol refuse to surrender to russia's sunday ultimatum deadline despite concerns over a nuclear attack from russia. >> when they begin to speak about one or another battle or involves enemies or nuclear weapons or some chemical, you know, issue, chemical weapons, they could do the thing, not be afraid. i mean, not be afraid. be ready. dagen: stay with us. "mornings with maria" is live right now. your morning mover, diddy global down sharply, off by 20%, losing
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more than one-fifth of its value in premarket trading, this as a chinese ride sharing group announces plans on a late may vote on delisting from the new york stock exchange. the company says it will not go on another listing from another change until the u.s. exit is complete. they announced a 12.7% drop in fourth quarter revenue from a year earlier. futures are down ahead of a big week of earnings, bank of america set to report ahead of the opening bell. joining me now is anderson capital management chief investment officer, peter anderson. joining the conversation all morning long, senior writer, jon hilsenrath and managing partner barry natt. what a pleasure this monday morning. what are you expecting from earnings this week? >> well, a lot of surprises, dagen. i think people will be looking to see what the narratives will be about the future, the next quarter. so many moving parts.
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you know, the supply chain issue hasn't gone away, the remarks and of course the threat of covid and lockdowns and now on top of it this twitter situation that i think, although it might be contained to twitter, i think other investors will look more closely into this and get a glimpse, a rare glimpse of the soft underbelly of a lot of directorships out there and the dysfunctionality about how people make decisions at the board level. dagen: well, you talk about twitter. twitter adopting -- this was on friday -- adopting a poison pill as the board votes unanimously to dilute the company's share value following elon musk's $43 billion bid to acquire the company. this poison pill measure is to prevent musk from accumulating a stake of north of 15%. peter, what do you make ofs this, the future of twitter and, again, the board and the
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management is desperately clinging to this money -- their money losing decision of making -- i laugh. but, again, this just -- i can smell the lawsuits from here, assuming that another suit r doesn't come in with a better offer. >> there's a lot of things we can smell from here, dagen. you are right on. i'm actually pretty excited about this because i think this will show, you know, twitter itself, the dysfunctionality of the board. i hope they're listening to our conversation. but in corporate governance 101, the board does not own the company. they represent the shareholders. i thought we all knew that. and for them to dismiss this kind of approach in such a short period of thinking this over, less than 24 hours and coming out with a frankly a 1980s
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defense of a poison pill really gives us a sense that in that board my projection is everybody's getting along to just go along and it's really hard to have an independent voice in a board to give a contrary opinion. this has been a lot of personal personalitiesings it's exciting to talk about the possibility of the new father of free speech if musk succeeds but he besides that, this is more of a legal and ethical matter, right? it's not just about the popularity of the personality which is very intriguing. and very se duck testify to talk about. -- seductive. we're talking about corporate governance, what's the best practices to be on a board of directorship. we see twitter needs to be overhauled completely. dagen: jon hilsenrath jump in here. the company lost massive amounts of money in the last couple years. what are they clinging to,
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hilsenrath? twitter lost $221 million last year and then it lost over $1 billion in 2020. what says you, hilsenrath? >> and i think the point here about the board and the board's responsibilities is a really important one. they're supposed to be representing shareholders and elon musk has come along and offered a better deal for shareholders and i think they have to have more to say than just presenting a poison pill. what's the alternative for them? and i think it's also going to be interesting to see how elon musk responds to this. does he raise his bid for the company to an even higher level to a level that makes it impossible for the board to say no? if you look at that chart, that stock price was up in the 60s not long ago, so maybe he needs to sweeten the deal a little bit. that's the way some of these '80s deals got resolved.
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the buyer kept and came back and kept be pumping up the price. dagen: it was unbelievable, peter, what you saw in the action last week, the day that elon musk made this offer for twitter. the offer was 18% higher than wednesday's closing price and then the stock ended down 2% on thursday. >> so let me just add, dagen. you know, musk has some work to do also, right? i mean, it seems a little bit glib about the way he presented it which of course we're all getting used to his rather unusual and sometimes humorous approach. let's give one example. he calls twitter users and he will say, well, i've asked them what their opinion is, if twitter has free speech. but he only gets several million responseses on that and if you do the simple math, you know, there's over 300 million twitter users. so for him to have some teeth in
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his a approach, i think he needs to have more than a 1% hit rate on a response like that. so he needs to build up his story more and give us more evidence. i mean, intuitively i think we all think it would be better for him to have a role in the company. but he needs to back that up with more facts and that's what analysts want. they want us of have more facts. let's give an example, like the housing --s res p den shale -- residential housing has more anti-discrimination rules frankly than corporate governance for publicly traded companies. they're saying we don't want to entertain his offer not because the analytics are poor but we're afraid of what he will do to the company and he will change the culture of our company. to me, that's discrimination. it has no grounds unless you can come in with facts and an analytic hypothesis of why you should reject that.
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dagen: barry, i follow elon musk on twitter. he tweeted about a day ago, 24 hours ago, love me tinder. and i'm a fan of elvis. maybe it's just that. maybe musk was just listening to some elvis tunes on easter sunday. >> yeah. to me what's sort of amazing about the entire governance structure of silicon valley is just how anti-competitive the whole thing is, the super voting rights that exist at a number of these big companies. i don't know whether they -- how this whole development occurred but it's kind of shocking. twitter actually is one of the few companies that doesn't have all these super voting rights and yet we still see them going with some of the worst strategies from my early days in in the business in the '80s with poison pills and the like. i'm kind of shocked by silicon valley overall and just how
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anti-competitive the governance is. seems like a good next book for john or someone. but it's shocking. >> you know, i'll throw another point out there that i think -- which relates to this whole anti-governance issue, which is you know, it used to be that tech was like the great equalizer and anybody could jump in there and now we live in this world where a few companies just kind of dominate the tech and media landscape and here we have it again with like elon musk, one of our country's wealthiest people, coming and taking over this mega phone of the media that -- in the same way we had amazon coming in and taking over the washington post. i think a lot of americans feel like just a few people are controlling everything right now. dagen: yeah. it's an olgopoloy. peter, thank you so much. good to see you. peter anderson. we're just getting started this
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morning. coming up, migrant encounters topping the highest single month number since president biden took office. texas congressman tony gonzales is here to weigh in as he urges the president to keep title 42 in place. you don't want to miss a moment of it. you're watching "mornings with maria" live on fox business. meet apartment 2a, 2b and 2c. 2a's monitoring his money with a simple text. like what you see abe? yes! 2b's covered with zero overdraft fees when he overdraws his account by fifty bucks or less. and 2c, well, she's not going to let a lost card get her stressed. am i right? that's right. that's because these neighbors all have chase. alerts that help check. tools that help protect. one bank that puts you in control. chase. make more of what's yours. 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
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dagen: border encounters topping 221,000 for the month of march, this is the highest single month total since president biden took office. that's up 34% from just february. this as a fourth bus of illegal immigrants arrived in washington, d.c. on saturday morning. barry and looming in the background of all ofs this is the disappearance, the biden administration rescinding title 42 which has allowed the federal government to deport border crossers during a public health
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emergency. so this crisis at our southern border will only worsen. >> i thought that journal did a pretty good job over the weekend with the editorial about what the political ramifications of all this are and i like to use the university of michigan sentiment numbers by political party including independent as a gauge of where the energy is and at this point it looks worse for the democrats than it did for republicans going into the last couple of elections. it's just hard to see how this is yet another domino that rolls against the democrats going into november. you just can't see any way back for them in the house and probably the senate as well. so i just think this is going to play so badly politically for biden. dagen: john, and also this is a financial burden, particularly for the border states, but as
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barry was pointing out, though, the journal, the editorial board, your paper wrote a piece over the weekend that said by rescinding title 42 without a substitute, biden is doing more to help restrictionists than president donald trump ever did and they note there's even a political revolt going on among democrats with the imminent end of title 42 that arizona senator kyrsten sinema told reporters that plans for the end of title 42 are not adequate. she inlisted five democratic co-sponsors on a bill that would require the administration to announce replacement policy for title 42. john, how do you see it? >> well, you talk about the financial burden. you know, so i'll give you an economic perspective on this and that is there's another crisis going on in the done he tri cou, it's an inflation crisis. prices are going up everywhere and hitting americans in the
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pocketbooks. there are a lot of reasons for this. one is that we have very severe labor shortages all over the country and so the country could actually use an immigration policy to get more workers here to help solve the labor shortage problems. there are a lot of other -- there are a lot of reasons that inflation is rising but labor shortages is one of them and i think it's unfortunate that republicans and democrats can't see it in their hearts to come up with some kind of policy that works to get workers into the country to solve the worker shortage problem. you know, this at one point in american history was america's advantage that we brought people in to this country. we had what we called a melting pot. and we can't make it work anymore because politics get in the way of coming up with reasonable policies that are in the country's economic interest. dagen: i would argue that the
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biden -- barry, did you having to say? >> yeah. just to further john's point. atlanta fed has his great wage tracker data and they look at it by income quinntiles, the bottom income wages are rising 3% faster than the percent. low end -- than the top percent. lower, less skilled workers is in in larger demand than higher skilled workers. >> it's hitting every american in pocketbook. when your prices go up at the grocery store or anywhere else, one of the reasons is because we have worker shortages. so this is hitting you in the pocketbook and politics are costing you money. dagen: and the journal has a story today, an exclusive that several million u.s. workers are seen staying out of the labor force indefinitely to john's point. i will just end on, though, you will not see any kind of bipartisan deal to create legal
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immigration or a pathway into this country until there is control over our southern border and again, i'll just point the skyrocketing fentanyl deaths in this country ands that's where the fentanyl is coming from across our border. coming you up, russian missiles strike down an area surrounding the western city of lviv. we have live in that city at the site of one of those strikes, next. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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dagen: russia firing four missile strikes on lviv this morning. at least seven people are dead, 11 injured. a child among the vtims mattmatt jois l n lowow on thnd invivh vheyy repor>> repr: we'tand stand ini adly o snef t t ttsgets of o o missil this rning. there eerrg c r stilw stil clegp. ian al are are emasg tthe t seven sevevdarliane fofo msi vikes v v in ts and tanhaate h herateses
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in lhe firstare deaths within the city since the war began and right behind this tire repair shop is a hotel where there were evacuated ukrainians staying. the windows have been blown out in the hotel. we're imagining there are perhaps injuries or of god forbid deaths in that hotel as well. the tire repair shop is just feet above a railway. railways are big targets because ukrainians are transporting military supplies on them and refugees are obviously using the trains to come and go. this began around 8:45 this morning. our crews saw black plumes across the city. 48 hours ago, saturday, we were live on air when four russian cruise missiles were intercepted in this area. unfortunately, this morning the missiles that came into the area were not intercepted. this is a town of about 800,000 people on the far western side of ukraine, very close to the poe of live border -- polish border. there are a lot of refugees
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here. we've been speaking to them over the past couple days. this goes to show that putin and his forces will strike anywhere within the country. there's a lot of talk and focus about all of the activity on the eastern side of the country. we are on the far western side and there were four missile strikes this morning and sadly the death toll is growing. dagen. dagen: matt fin, thank you so much. matt, be safe. be safe. >> reporter: thank you. dagen: joining me now, fox news contributor, former cia station chief, daniel hoffman. always a pleasure to see you. your reaction to what you're witnessing in lviv today. >> well, this is just another example of russia's deliberate targeting. it's not even indiscriminate anymore. they don't draw a distinction between combatant as and noncombatants in this war. they're focused on destroying ukraine's will to fight and they're also focused at the same
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time on the supply lines that's keeping ukraine in the fight. over the last few weeks we've seen an uptick in military assistance nato members are providing, tanks from the czech republic and air defense from slovakia. the united states is providing mi17s now and humvees and drones that matter so much. we're headed for a fight in donbas that i think will be like none other in the war but russia, make no mistake, will keep up long rage bombing from its own territory at the ukrainian cities. it's not just lviv. other cities were hit. russia will keep up the p intensity of the fights. dagen: ukrainian's president is saying the world should be prepared for vladimir putin to turn to nuclear weapons in the campaign. listen to this.
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>> when they speak of one or the other battle, involving enemies or nuclear weapons or some chemical issues, chemical we pons, they should do -- weapons, they would do it. we should not be afraid. i mean, not be afraid. be ready. dagen: zelenskyy urging people to be ready the anti-radiation medicine, air raid shelters in the interview withinnan media. daniel, your thought on this. it seems like the fear of a few clear -- the use of nuclear weapons by putin has kind of slowed certainly the u.s. response and the response to ukraine's needs but how do you see it? >> well, last week director cia burns said there was no indication at this time that russia planned on using tactical nuclear weapons. i can tell you if there's one thing i learned from tracking
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russia and putin in particular over the past 20 plus years, it's that you can never underestimate russia's will and capacity to target innocent civilians and do it with the sort of indiscriminate weapons of this source. the community has to be vigilant for any indication or of warning that the you attacks might take place. the biden administration needs the to message russia overtly also privately in their channels to russian defense and intelligence services, warning them of the a attacks, telling them the russian military has committed enough war crimes against ukraine and they shouldn't take this order from the kgb guy in the kremlin if putin indeed decides to give it. dagen: dan, great to see you. i hope to see you again later in the week potentially. always a pleasure, daniel hoffman. thank you so much. we'll be right back. if you invest in the s&p 500 your portfolio may be too concentrated in big companies.
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dagen: three mass shootings rocking the country as crime surges across the nation this easter weekend. gerri willis has the details. >> good morning, dagen. that's right. the deadly crime wave continues, violence rocking this easter weekend including at a massive airbnb party in pittsburgh where two 17-year-old boys were killed. police say at least 200 people were at this party when shots rang out hitting at least 10 of people. police say as many as 90 rounds were shot off as people fled for their lives. authorities believe there were multiple shooters. then in south carolina, police investigating two mass shootings. police arresting a suspect in connection with saturday's shooting at a shopping mall that left 14 people injured. that suspect, dwayne price, was charged with unlawfully care ying a firearm and was released on bond and is permitted to go
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back and forth had to work with an ankle monitor. meanwhile, kim jong un smiling and clapping as he watches his nation test fire a new type of guided weapon over the weekend. south korea say they fired two projectiles from the east coast toward the sea on saturday. officials warning they could resume nuclear testing after kim broke a self imposed moratorium on intercontinental missile testing with a launch last month and this as cargo ship stuck in the chesapeake bay for over a month is finally free. the ship was headed from the port of baltimore of to virginia when it ran aground north of the chesapeake bay on march 16th. removing all of the containers, a full moon and high spring tide helped the coast guard pull the vessel back into the shipping
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channel. dagen: those are my shipping grounds, not that i know anything about moving a cargo ship but i miss it. thank you so much. the latest from hunter biden's laptop, president biden sharing an art a kell about hillary clinton in 2016. biden writing, quote, interesting. of course, he probably doesn't speak that way. in the subject line of an e-mail shared with his inner circle with a link to this real clear politics article. hillary's victories mean painful legal choices for the doj and white house. joining me now is north carolina congressman, ted bud, a member of the house financial services committee and candidate for u.s. senate. congressman budd, so maybe he doesn't like her but beyond that, how do you read into this? >> about the hunter biden laptop, look, this is about whan we take over congress, take back
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the house, take back the senate, we need to bring accountability to the biden administration because this is absolutely tragic. we've seen mainstream media malpractice going on two years that we've known about this so people are crying out for justice. we need to know what's on it, what the doj, what the fbi is looking into because people need their justice. dagen: but do you run the risk -- this is looking ahead, past the election, but would you potentially run the risk of stomping on the grand jury that's been empanelled in delaware and what's going on in terms of that tax evasion case, which it could be more. but again, like even if you have a parallel investigation or parallel hearings, do you run the risk of big-footing the prosecutor in delaware? >> i don't think so. i think they need to brief congress. we feed to know what they're
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doing. i mean, if there's anything that would overlap with the grand jury, of course they need to let us know if there needs to be a firewall. but of course they need to expose the fact that they are investigating because they've been foot dragging for quite a while and we've known there's corruption. we've known that hunter biden is compromised and we need to look into the link between hunter biden and his father, joe biden, to see if they're -- and we thinker there are major compromises take we think could weaken the u.s. dagen: business dealings in china, for example, and money that was sent from those business dealings directed to hunter and his uncle, his father, his father's brother, that being said, i'll note -- because we were talking about the article that was shared by joe biden, talking about hillary clinton. and i said last week there is animosity potentially there between president obama and joe biden and hillary clinton.
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i remember vividly when hillary clinton when she's was why she didn't drop out of the nomination process going back to 2008 and her response was, i'm paraphrasing, well, bobby kennedy was shot in juan in call-- was not in june in california. an appalling response to that. before we move on, nail -- final word on this. >> we see connections between joe biden. what this plays into is american weakness on the international stage. we would never have these series of problems that we're having if we were under president john ailed j drum -- donald j trump. we see russia and north korea being emboldened, china, iran. all of these challenges right now are really a result of american weaknesses because of the compromises and the condition of joe biden. so this is something that's
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internationally concerning and it's concerning to us here he domestically. dagen: congressman, last week you were sanctioned by russia. tell me more about that. >> they sanctioned several of us in congress because we have been supportive of the sanctions against them, particularly the financial things that are crippling to their economy. look, we have to be strong as we can as the united states so that we can support our ally, the ukraine. we have to go over the ruble, we have to go over the financial pipelines, we have to go after the swift, everything that russia uses to move money and enhance their ability to project power. we want to cripple it so that we can support our ally in this. putin is evil. he's an international thug. this is an unjust war against the ukraine. and i've been a strong proponent of everything we can, everything that we can do as the u.s. to son their incursion into
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ukraine. and that is why they sanctioned me and i consider it a badge of honor. dagen: congressman, there is so much more that needs to be done that is out of the u.s.'s control unless we can use verbally our leverage over europe because money has continued to flow into russia as europe is utterly reliant on oil and natural gas. they have been going, trying to go to other nations to find additional supplies or alternative supplies but again, if you've been watching the ruble, more money for the duration of the war on ukraine, more money has been flowing into russia than coming out of russia because of that european reliance. what more can you as a congressman do to try and wean europe off of those russian energy supplies? >> the number one thing we can do here in the u.s. is our domestic energy production policy. we have to -- everything that
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joe biden has done has been pro radical environmentalism and against energy production so when folks come to me and say it's a lot easier -- or it's a lot easier to carry 1 had $100 worthof groceries, you cank he'll about that but it's no laughing matter. the average customer it's costing $5,200 for the average family in the united states. -- we can be a net exporter if we have pro energy strategies in the u.s. and that can help wean europe off of russian energy. dagen: i will note that over the weekend the biden interior department did restart oil and gas leasing on federal lands but it was only to comply with a court order to allow those lease sales and it does paltry little. a friend of mine who works in
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oil leasing, in the energy business, she says less land and a higher royalties, how could he raise royalties without legislation. so again, they're doing -- the biden administration -- the bare minimum in terms of trying -- when they could do everything in their power to restore our energy dominance and help europe and other nations get off a of russian energy supplies. congressman ted budd, thank you so much. great to see you this morning. >> thank you, dagen. dagen: coming up, financial expert rachel cruz is here to talk about how americans can budget with -- when they're facing 40-year high inflation. that's next. you're watching "mornings with maria," live on fox business. ♪ i will wait, i will wait for you. ♪ and i will wait, i will wait for you. ♪ i may be close to retirement, but i'm as busy as ever. and thanks to voya, i'm confident about my future. voya provides guidance for the right investments. they make me feel like i've got it all under control.
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dagen: bank of america earnings out right now. gerri willis is live with those numbers. hey, gerri. >> that's right. we have a beat on the top and bottom line here. not really big expectations for bank of america. the median estimate, 75-cents a share. they came in at 80. so that's a nickel above what was expected. year ago eps were 86-cents a share so this is the first year to year he decline since the
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fourth quarter of 2020. so again, it was a beat but still we're seeing a lot of weakness in the banking sector. revenues, meanwhile, median estimate, $23.19 billion. what we saw was $23.2 billion. so a beat there. marginally so. year offing, 22.39 billion was the report. we're seeing a lot of trouble in the banking sector. interestingly, quarterly pretax income, this is a number we sometimes talk about, down 14%. and the company saying, and this is important, because a lot of banks have complained about the effect of russia on their results, right. the company is saying they had, quote, very minor direct exposure to russia based companies. so that's important here. and why they were able to beat on the top and bottom line. big company here, bank of america, very consumer oriented bank, they talked a lot about how consumers are doing but today it was all about the exposure to russia. dagen, back to you. dagen: gerri, thank you so much
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for that. barry, your instant reaction to these numbers? >> from a macro perspective, their commentary around the consumer, the pick-up in loan growth was quite favorable so it tells you there's a fair bit of economic momentum in the household sector. from a broader perspective, their return on equity ticked up a little bit. this is key. it's at 11%. 10 is really the threshold level. banks struggle to get return on equity above 10% until the treasury reform proposal that was put forward in the summer of 2017. since then, banks are building equity, building capital. the group to me looks really cheap and it's one of my favorite groups, actually, bank of america's numbers look pretty good. dagen: we'll get more from you on that as the show moves on. barry, thank you. many americans today are seeing their money not go as far as it once did. not anywhere near even a few months ago. a perfect storm of inflation at a 40-year high, supply chain
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problems, rising oil prices and the ongoing war between-of russia on ukraine making finances a sore subject. joining me now, financial expert, national best selling author, host of the rachel cruz show, rachel cruz. how should people be budgeting their money during these times of 40-year high inflation? >> yeah, well, the inflation really is hitting the american people so, so hard and so what you should do is budget. how should you be budgeting? you need to budget. a lot of people say my budget's in my head or of i think i know what's going on. you have to be so diligent where every dollar is going. i want it visual. and so what you want to toys have your income for the month, minus all of your expenses including giving and saving, have dollar amounts next to each of those categories and your income minus those categories should equal zero. so every dollar coming in is assigned to a category. dagen: is there any -- what gets in the way of people doing
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this? >> well, personal finance is 80% behavior, it's 20% head knowledge. we know we should be doing this, when i say you should budget everyone at home is probably thinking yeah, i should. doing it difficult. there's a level of behavior change where we're comfortable with what we're doing and what we know and a changing the way we view and handle our money can be difficult. but i could say push into the change. it's going to be uncomfortable but it's going to be worth it. dagen: last week, the rate on the 30 year fixed rate mortgage hit 5% for the first time in more than a decade. you favor what in this environment? 15 year? >> i always recommend a 15 year fixed rate mortgage. not only will you get a lower interest rate versus a 30 year but you're automatically going to have more equity because you'll be paying your home off faster which is what i want for people. i want people completely out of debt including their homes. doing the s 15 year more damage will help you get out of debt
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dagen: time for the hot topic buzz. millions of americans who left the workforce during the pandemic expect to stay on the sidelines indefinitely. new research finds that about 3 million workforce dropouts have no interest in going back
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to work. work, shopping in person or dining out. john, you could write a book about this topic but what do you think about it? like what's keeping people out of the workforce other than they enjoy not working? >> well, i mean, i think there's a couple of things going on here. one is that people -- the example in the story about my colleague josh mitchell was someone who retired early, someone in his 60s who has some health issues and decided i'm just not going back to my old job. so you have early retirements. and then you also had some families where maybe you had two people working and now they're moving to one person working, maybe that one person who is not working anymore is caring for someone else in the family, maybe that person retired early. so people are just finding different arrangements. and so we lost 3 mill p i don't know workers and this -- million workers and this comes back to
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what we were talking about earlier. why do we have an inflation problem right now? there's a lot of reasons behind it. one of them is these worker shortages. we knew we had an aging population and this was going to happen. and it's happened faster than people expected because of the pandemic. dagen: and john, on this note, folks are just figuring out a different work/life balance for your family. you start doing the math with, say, gas prices where they are, the cost of child care, for example, and it's beneficial for one spouse to stay at a home and take -- particularly if you have young kids and then one person going to work that when you do the math on that second employed spouse, that all of those -- the wages are essentially getting eaten up, that it doesn't offset the cost of getting to work and putting your kids in child care. >> certainly the gas prices. you know, and then the other thing that really scrambled
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things i think was the pandemic and the move to remote work. you know, i think a lot of people moved out of expensive states like new york and california to places where maybe you can live on one income and you don't need two people kind of working eight to 12-hour days just to be able to live in the place that you're at. so i mean, the pandemic scrambled a lot of things. but it brings me back to something that we were talking about earlier. you know, how are we going to keep this labor force growing? a lot of it -- americans are very uncomfortable with immigration but this is a way to grow our workforces, to find some orderly and fair way to bring immigrants into the country and that's -- we need to get over our political disagreement and find orderly, fair ways to keep bringing immigrants into this country because that's america's secret sauce, that's what makes us different than china and japan and allows this economy to he
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remain vibrant. dagen: but i'll say that the biden administration needs to start by protecting the southern border and stopping at least the flow -- >> that's part of the orderly -- dagen: right. >> the orderly and fair part, yeah. dagen: barry, real quick on this topic. >> yeah, i think you hit on a couple of key issues. one is for sure this is about early retirements. when that happened after the global financial crisis, the whole boomer generation was a decade younger than it is today so now if you push boomers, which is the second biggest age cohort out of the workforce, they are clearly already at retirement age. so that's one big issue. but then the other key point you made was that we kind of worked through the first order pandemic effects, the supply chain inflation. that looked like it was peaking in last week's order. we are into the second effect,
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and that is wage growth and the expansion of social safety net programs that were put in place, as you said, in a lot of cases you don't need two people working. one final point. some people moved from new jersey to colorado on this. dagen: no, you're in colorado, we should point out. i'd move there if i could. i would move there if i could. in my neighborhood, it costs $1,100 to park your car a month. and good luck avoiding getting beat in the head while you're trying to get to your garage. john, barry, stay right there. the next hour of "mornings with maria" starts right now. ♪ dagen: good morning, i'm dagen mcdowell, in for maria bartiromo. it is monday, april 18th. your top stories at 7:00 a.m. eastern. earnings season kicking into high gear this week. a bunch of financials reporting today, bank of america out just a short while ago with a beat on
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both earnings per share and revenue. that stock ticking up slightly, about a third of 1% in premarket trading so far. ibm, fifth third bank, lockheed martin, halliburton, netflix and johnson & johnson all reporting tomorrow. a look at the futures at the start of the new week slipping off their lows of the morning but slipping as we near the opening bell, about two and-a-half hours from now. this after all three major market gauges were lower last week. the nasdaq being the biggest loser, down by more than 6%. oil prices this morning essentially flat. there are concerns about supply glut. crude oil is lower by the west texas intermediate by 61-cents a barrel. the yield on the 10 year treasury topping three-year highs, almost four-year highs, nearing 2.9%. again, mortgage rates, 30 of year fixed rate mortgage will
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cost you the most it has in more than a decade. looking at european markets, they're up slightly across the board, gains in england, france and germany and asian markets were all lower overnight. the biggest loser there, the nikkei in japan down 1%. the hang seng closed for a holiday and they were digesting the economic news out of china. twitter founder and former ceo jack dorsey seeming to side with elon musk in the battle with twitter's board of directors, dorsey saying over the weekend that the notion that a bad board will kill a company every time is, quote, big facts. and that this issue has, quote, constantly or consistently been the dysfunction of the company. elon musk is trying to fix that. meantime, the board is trying to shut out his bid. this as missile strikes hit lviv this morning, killing seven, injuring 11. ukrainian forces in mariupol refuse to surrender to russia's
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sunday ultimatum deadline, vowing to fight until the end, despite concerns over a nuclear attack from russia. >> when they begin to speak about one or another battles or involves enemies or nuclear weapons or chemical issues, chemical weapons, they should do-they could do it. we should think not be afraid, i mean, not be afraid. be ready. dagen: stay with us. "mornings with maria" is live right now. time for the word on wall street, top investors watching your money this morning. joining me, cfra chief investment strategist, sam stowval, chief strategist katherine rooney vera and michael lee strategy founder, michael lee. welcome, one and all. great to see you this monday
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day. bank of america earnings crossing moments ago, bank of america reporting a double beat on both earnings per share and revenue. your reaction and what you're watching for this week. >> well, good morning, dagen. what i'm watching for this week basically is more news, similar of to the bank of america where maybe we end up with better than expected results. we started the quarter expecting to see about a 4.4% increase in the s&p 500. now that has edged higher to 5%. we've seen revenue growth expected to be up a little more than 10%, margins have remained flat at 12.9% for the s&p 500 and next year's earnings have also ticked up to about 7.8%. so a little bit of upside optimism for earnings and i'm looking for healthcare in particular and pharmaceuticals specifically to show a very strong earnings period. dagen: biggest week -- biggest weakness in terms of areas, in terms of sectors that you're watching for and is that
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factored into the stock, the prices of those stocks, sam? so biggest area of weakness in earnings. >> sure. well, i think the weakness is likely to come in transportation area, i think jb hunt today reporting will probably show what a lot of the transports have been showing is concern by consumers about the demand as inflation heats up, as interest rates rise, as supply disruptions continue. so really the question is whether we're going to break out of the interest that we have seen in the inflation hedges as well as the defensive sectors. dagen: mike, let's talk about some twitter. twitter, the company, the board adopting a poison pill over the weekend. this is just a legal maneuver to restrict elon musk from accumulating more than 15% of shares. this is following elon musk's $43 billion bid to acquire the company. this is a strong defense to elon
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musk takeover. your reaction? do you expect-there are reports that the private equity firm could step up as a suiter for the company or other private equity firms are doing the math had on this, certainly. >> well, i'd say after elon's sale of tesla stock last fall to pay taxes to silence his critics, he's probably sitting on more cash than anyone else in the world. he is the world's rich et man. what i would say is i do think elon will walk away with this company. twitter has been horrifically run. when the market closed it was 15-cents above where it closed on the ipo date. the nasdaq in the same timeframe has been up many times over. this has been horrifically run. twitter has been unable to
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monetize. you need to reorganize yourself. the best way to do that is through going private. i think this poison pill is a negotiating tactic. i think elon will have to raise his offer a couple times. i personally think it gets taken out at 69, first for -- first reason being elon is still a 15-year-old boy and second reason is twitter's high water mark is mid-70s. 70s.i don't think you'll get the high water mark. it's hard for the board that has no real operator in the company and all the stakeholders are passive etf shops who will either pass the boats on to the underlying etf holders or user vieses to figure out what to do on a proxy basis. i think this deal happens and if you take the politics aside, it makes a ton of sense for twitter shareholders and for twitter as a company to figure out how to actually make some money and profit off the company they built. so -- and when you add the
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politics of the situation, look, you have the s.e.c. justice department and -- national transportation safety board opening up investigations. elon has the best bankers and lawyers. i think he has enough money for a down payment. there was a report that larry ellison could come in with tom bravo to lever with him. you could argue against twitter's cash flow and tesla stock. i think the deal gets done higher than here and i think it's best for the shareholders and company going forward. dagen: outstanding analysis, michael lee. it's outrageous that this board clearly enjoys thetench that they created in losing money year after year and that they take this -- maybe they get as you pointed out this company goes to musk for a higher bid but it's just disgusting to
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watch what these -- this board of directors has done in terms of their poor management and they would rather be a money losing little censorship fifedom than naturally come to the table with elon musk, scratches my head. i scratch my head. katherine, the 10 year nearing 2.9%, the 10 year yield rising to the highest level in more than three years, a wall street journal piece over the weekend saying the bond route, as yields go higher, bond prices plummet, promises more pain for investors and rising yields are usually a good sign for the economy but is this -- the fed meeting is next month, the beige book is out on wednesday. how do you see it? >> the fed is going to try to make up for past errors. they far extended the accomodative policy helping to create this massive burst in
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inflation, alongside of course of the federal government deficit spending. those are the primary impulses, if not high gas prices coming long in the pipeline. 10 year yields are 3%, probably going to break higher. there is a price for everything and my bet is that buyers are going to start stepping in at higher yields, driving yields back below 3%, where i expect them to end by year end. my concern, however of, is that the fed tries to play catchup, putting brakes on an already decelerating economy and that i think is what investors need to position for, dagen. we're recommending those defensive sectors, utilities, energy, staples and healthcare as well as gold and other assets such as as raising cash to be able to offset what is the rising risk of recession in the u.s. economy. dagen: thank you so much, katherine rooney vera, sam
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stoval and mike lee and mike, by the way, the love me tinder tweet, i'm slow on the uptake this monday morning. one of my twitter followers, pointed out it's love me tinder, offer, so i was being a little thick. i appreciate the monday morning correction. thank you, all, so much. sam, katherine and mike. much more ahead this morning. new injury sigh congressman jeff van drew is here as illegal immigrant encounters have the highest single month number since biden took office. we get his take coming up at 8:20 a.m. eastern. joining the conversation all morning long, jon hilsenrath and barry napp. you're watching "mornings with maria" live on fox business.
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♪ we could walk forever ♪ ( ♪♪ ) ♪ walking on ♪ ♪ walking on the moon ♪ ♪ some ♪ ♪ may say ♪ ♪ i'm wishing my days away ♪ ♪ no way ♪ ♪ walking on the moon ♪
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fair, elon will buy twitter. if the game is rigged there will be some reason why he won't be able to. following elon musk's $43 billion offer to acquire twitter, barry, i'm going to start with you on this. mike lee just predicted that the company would go out to musk for 69 bucks a share. however, that is a 20% increase above musk what possibly his starting bid. >> yeah. i think that the challenge, which mr. lee hit on and a number of have hit on, twitter has never been able to monetize the traffic on the network. i recall trying to do a little bit of work with them myself for my business and it was a wholly unsatisfactory experience. it seems to be a place where if you say a lot of hyperbolic things you'll get a lot of followers but i haven't found it
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to be a particularly effective mechanism for trying to build a business. so i don't know whether elon can do that or not but to me it just seems like a bit of a flawed business plan. dagen: jon, how do you think this plays out? >> you know, it's interesting this idea that it's a flawed business model. elon musk might be wealthy enough to take the thing over and just turn it into a public square that is more agreeable to his view of how a public square should work. i think one of the interesting questions is what would he do with twitter if he were to buy the thing. he's talked about things like adding an editing function for individuals but making the company itself less intrusive in terms of editing what people are allowed to say and what they're not to say and what they're not
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allowed to say so this might not be about twitter's profitability. it might be about turning it into a forum that is more akin to what elon musk thinks an open area like twit r ought to -- twitter ought to be. dagen: the journal points out that in terms of the financing of the initial offer that musk did not reveal how he would actually he pay for it. he is the world's richest man but again, all of the wealth tied up -- most of it tied up in one single stock, that morgan stanley would provide some financing, some debt financing for the bid but this would be one of the largest leverage buyouts ever. >> it would be a leveraged blueout but it would be -- buyout but it would be backed bn enormous amount of equity he owns in tesla and also spacex.
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it's hard to know how much that one is worth. i think morgan stanley would be comfortable lending that money becauses he's got so much money backing it up. so i don't think getting his hands on financing is at all a problem for a person like elon musk right now. you know, when you talk about traditional leveraged buyouts, you're talking about companies with a little bit of equity doing a lot of bore he rowing and having to -- borrowing and having to squeeze cash flow out of companies they that they buy. i don't think elon musk has to squeeze a lot of cash he flow out of twitter. he says he can turn it into a more profitable business but i don't, frankly, see the plan that he's put forward that's going to do that. i think it's more about making twitter more a forum that is suitable to his taste which, for instance, allows people to edit their own tweets and then has less intervention into what other people say. dagen: i think the censorship of that hunter biden story that was published by the new york post, i think that that and the fact -- i mentioned this before -- the babe long b which is --
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babylo b, the site when twitter suspended that account for a satirical tweet, that might have been the tipping point. >> he said he's a free speech absoluteist. i think that's what it's about. this isn't about the profitability of the company. dagen: well said. >> he's got the money to buy it. so -- dagen: have at it. the board's, again, trying to protect their money losing fifedom. thanks, jon, barry. we'll be right back. (vo) for me, one of the best things about life is that
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dagen: another devastating record at our southern bore border.migrant encounters markie highest number since president biden took office. joining me now is texas congressman, tony gonzales, a member of the house apro of appropriations committee and a navy veteran who served in iraq and afghanistan. congressman, your reaction to these new numbers. >> good morning. thank you for having me on. the numbers haven't stopped. the crisis has been ongoing since biden took office and bottom line, it boils down to this. there is a civil war that is happening within the democrat party between the moderates and
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progresses. this is no longer about policy. this is all about politics and you're seeing that play out in title 42. you're seeing more and more moderates get behind extending title 42 as the progressives fight tooth and nail to do away with title 42. republicans are doing everything we can to highlight the policy deficiencies, whether it's the border, energy crisis or the debacle overseas, we'll continue to highlight what the democrats are doing wrong. dagen: this is a huge burden on particularly the people of the border states, congressman. and if you get rid of title 42, that the influx of illegal migrants is just unimaginable and this is on top of the financial burden particularly in those border areas but also the fact that fentanyl is coming across the border, killing americans far and wide, and then last year 23 known or suspected
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terrorists were caught at the southern border and that was spread across several points of entry. so how awful and horrific does this need to get before the democrats start caring and doing something about it? >> yeah, you're exactly right. and the republicans, we've highlighted this since last year. my very first bill was security first act to strengthen the border. last year, mccarthy went down to el paso very early on, as did steve scalise. over 100 republicans have gone down. we'll go down again. you're exactly right. the car a nag has not stopped -- carnage has not stopped. this is solely on the democrats. this is about one thing. it's about political power. this is no longer about the science. probably never was about the pes science in it. if you look at it, you've got
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another -- going back to title 42. have you another covid variant happening across the world. last week, nancy pelosi herself as well as many other lawmakers came down with covid. so this was truly about keeping the american public safe, then title 42 would be extended for health purposeses. dagen: i want to point out arizona senator mark kelly, a democrat, slamming biden for lifting title 42 warning that the administration does not have a plan for how handle the influx of migrants following the removal. they don't have a plan for it now, congressman gonzales. senator mark kelly is up for re-election. now they start caring. >> this is about politics and the senate side, there's five democrats that dropped the bill to extend title 42 and the house side there's 10 house members that dropped a similar bill, representative golden from maine
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and myself put together a big to extend this. i'll work with anybody who is willing to try to put a band-aid these border policies but once again, you're seeing a civil war that is happening between the democratic party. it will be interesting to see are the moderates going to win or the progressives going to win. the first sign of that is going to be right here in texas. next month we have a runoff election between henry cuellar my neighbor to the south who is essentially a moderate democrat versus a very progressive democrat. it will be interesting to see who wins the race. until the democrats start making policy changes, you're going to continue to see this carnage from terrorism to fentanyl to record numbers of migrants coming over and record number of migrants dying along this trek. dagen: congressman gonzales, great to see you this morning. always. tony gonzales, thank you so much. please come back. we'll see you very soon. >> thank you.
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dagen: coming up, an uptick in crime across the country now raising calls for more support for you law enforcement. jeff flock is live in philadelphia with what you need to hear, next. 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. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit and get started today.
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looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. dagen: america's crime crisis leading to calls from democratic mayors to fund the police, a violent surges in major cities from coast to coast. jeff flock joins us live from philadelphia with the latest. good morning, jeff. >> reporter: the tune has changed, dagen, as i come to you from inside fraternal police headquarters here in philadelphia and perhaps behind me you see all of the men and women over the years who have given their lives in service of the city of philadelphia's police officers, this is just one of the cities now that is again re-funding the police. take a look at the numbers in in philadelphia. budget proposal a has 23 million extra dollars for officers in
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philadelphia. $1,500 bonuses for current officers. pay increases. it's just one of multiple major cities now, democrat mayor ass . had 300 extra officers, la wants to increase the budget by $150 million, new york has done away with bail reform. john mcnesbee, who heads the fraternal order of police in fissle delve ya, what happened -- philadelphia? what happened. >> maybe people are starting to wake up. two years ago we were the walking disease around the country. all of a sudden people are realizing that this so-called reform is not working and it's time to let police do their jobs, enforce the laws. they're there for a reason and let us go out and do our job and do it respectfully and let's get this under control. >> reporter: this has been a tremendous crime wave. if we put the numbers up in philadelphia last year, in terms of homicide, 568 i think it's an
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all time record. >> we don't have to look at least year. look at last weekend. since thursday to today we've had over 60 people shot, a half a dozen murders, last night a home invasion. you can't make this up. i mean, people are being arrested. we have a district attorney in the city of philadelphia who is absolutely terrible. people are walking right out the back doors. he's making sweetheart deals, cutting all kinds of stuff to make sure people do not go to prison. meanwhile, the people in the community are suffering. so we want to go out there and do the job. people want to call 911 and make sure a copies coming. the shortage we have here, they're saying 600, i'm saying 900. we need to get those people back. >> reporter: how hard is it to get people who want to become police officers because of the attitude of the past couple yearsings as you say, you want the best guys on the block. >> right now it's not a pretty profession. it's hard to get people to attract people to come here. i mean, the pay's decent, the benefits are great, best in the
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country. but again, it's not a pretty job. it's a tough job right now. but i think slowly as we're making changes and it's coming back, the pendulum is switching back to our end, hope any the people will start seeing -- hopefully the people will start seeing the job as more attractive. >> reporter: perhaps best to leave you, dagen, with the pictures of the wall. it is not an easy job. but perhaps it's being recognized again for how important it is. dagen. dagen: we're grateful for the service of each and every one of those men, each and every man and woman of wearing you blue today. jeff flock, thank you so much. my friend, always a pleasure to see you. >> reporter: good to see you. dagen: joining me now, former u.s. attorney and right on crime executive director brett tolman. your reaction to jeff flock's report and what you're seeing in major cities across the nation? ?brett. can you hear me? brett's frozen. i'm sorry, brett.
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hopefully we'll get back to you in a second. hey, brett. can you hear me? it's dagen. >> yes. dagen: did you hear jeff's report? >> i can hear you. yes, i did. dagen: what do you sunshine. >> conservatives have oud across the country and really have never moved, it's the left that moved on crime and they moved because they went to policies based on emotion rather than what's really working. and that's not a system that the country has confidence in because we all want preserve the public safety in our communities. dagen: what direction do you think it goes? you're hearing talk about the need to fund our police and it's happening in new york city and elsewhere. of course, new york city mayor eric adams blaming woke progressive policies for the city's soaring crime rates. just listen to this, brett. >> major mistakes made throughout the years that destroyed the trust that the police commissioner is talking
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about. we have to rebuild that trust but we can't rebuild that trust by allowing those who of are dangerous and that they have a repeated history of violence to continue to be on our. dagen: but this -- there's a rapper here in new york city whose social media account is filled with anti-police rants who is running to become a democratic party leader in brooklyn, his name is noah weston. he tweeted out the greatest threats in the city are eric adams and the nypd. if you go through this guy's twitter account, it is vile what he has said about the police department and it just completely ignored the violence that everyday new yorkers were -- or people from philadelphia, los angeles, people in chicago have to face every day because of the vilification of the
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police department, not just the defunding but the demonization has had the same effect. >> yeah, the combination of these policies, you know, in new york especially, they said, hey, we're not going to hold anyone pretrial even if they're dangerous and then you have prosecutors that decide not to prosecute certain crimes, combine that with the message that the police are the problem and then you have an entire public that's growing up with the attitude that they can do what they want and they can do violent things to others and they can do it to the police. and that culture is going to destroy the fabric of a community and it's going to do it quickly. so if they want to change policies and they now see that that was a mistake, they're going to be behind in getting that done and a lot are going to suffer until they immediately start to implement policieses policies thatwork. dagen: it's astonishing how quickly these policies were implemented and you just saw in a matter of months here in in new york city with the bail
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reform law that got rid of cash bail for a vast number of offenses that initially that you did not have to post bail at all. you're right back on the street for offenses including i think it was a child sex act, manslaughter, certain forms of manslaughter, arson. the legislature here after a few months moved to try to tighten it up a little bit but it didn't do any good and then you have a da like alvin bragg which you pointed out like pretrial release, everybody is out on pretrial release and i always ask the question, how awful does it have to get. how many people have to be assaulted, raped or murdered before they do something about it? >> yeah, it's laudable to want to fix the criminal justice system. there are broken aspects. we can fix it without
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compromising public safety. in texas they did bail reform. they increased the judge's ability to look at the risk or threat of danger to the community so they could hold individuals longer, not just let them out. i mean, there are policieses that work across this country. it's not trying to reinvent the wheel. new york just got caught up like others, portland and other cities in politics that were dangerous and politics that destroy our communities. dagen: coddle the criminals and treat victims and law abiding residents like something to be -- someone to just be cast aside. before we go, brett, a new court filing out from special counsel john durham saying that the cia found data from clinton campaign lawyer michael sussmann alleging a connection between president trump and russia that was not technically plausible and user created. sussmann's trial is scheduled to begin next month and he will go
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on trial. brett? >> he will. he filed a motion to dismiss but that had almost a zero percent chance of survival and so durham has done what he needs to do. he's slow and methodical. we would like answers sooner later many. he is on top of what we know is a effort to bring down one candidate based on falsehoods. dagen: thank you for being here, always a pleasure. >> thanks, dagen. dagen: coming up, the new omicron subvariant, now the dominant strain across the u.s. we'll tell you what it means for reopenings, masking, everything. you're watching "mornings with maria" live on fox business.
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dagen: the ba2 covid-19 subvariant seeing a significant spike in cases nationwide. according to numbers from the cdc, nearly 86% of new covid-19 cases are tied to the new subvariant for the week ending april 9th. one week prior ba2 made up about
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75% of all new cases in the country. joining me now, infectious disease expert, john hopkins center for health security senior scholar, dr. amesh adalja. what does the new subvariant mean for how we live, particularly dealing with current covid vaccines? >> for people that are fully vaccinated who are boosted, if they're at high risk, this variant is really not going to be a major setback for them because what we know that is the vaccines are durable against what matters, he protecting against serious illness, hospitalization and death. yes, cases are going to go up with ba2 because it's more contagious but we're not going to see it translate into hospitals in crisis because we've got a very immune population with people from prior infection, with vaccination, with anti-virals, monoclonal antibodies. cases will go up, and we should expect that but not in a disruptive matter. dagen: philadelphia reinstated the indoor mask mandate, he
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despite a lawsuit from local businesses and residents to overturn the mandate. this comes as the biden administration announces that it is extending the federal transit mask mandate until may due to an uptick in nationwide cases. dr. adalja your reaction to this? >> i don't think that either of these actions are justified. when we have a new variant that's going to cause cases to increase, we have to take the full context into account and that context is what i mentioned, a lot of immunity, a decoupling of cases from hospitalizations and better tools than masks. if people want to wear masks that's fine. if businesses and organizations want to require masks that's completely fine. i think we're past the point where government rules like the city of philadelphia or the transportation mask make much senses personally when talking about the fact that -- especially when talking about when most of your life you're not wearing a mask. the airplane, that's probably one of the safest things because of air filtration that happens there. it doesn't necessarily make
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sense and i think we shouldn't revert back to masks when we have better tools but people are encouraged to wear them if they are at high risk and if they feel uncomfortable but i don't think this is a place for government anymore. dagen: there are places that go to extreme and look no further that the broadway theaters here in new york city. you're required to show proof of vaccination and along with a photo id, a government issued photo id to enter a thee tear. you can't go in -- in a theater. you can't go in a theater unless you're vaccinated. they've had a strict mask mandate as well. i think it runs through the end of this month. but they have -- i went to a show in new york city and they had ushers patrolling the aisles, streaming at people to put their -- these are people who already had a mask on but if you were not quick enough to put the mask back up after you were drinking, they would shriek at you and they walked up and down
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the aisle with signs while the show was going on. and these very ushers who were screaming at people were wearing cloth masks that don't work. >> yeah, so there is a lot of paradoxical behavior going on. we find many organizations don't have the risk tolerance to the fact that covid-19 is december r destinedendimi city. some organizations are worried about getting closed down and they haven't adjusted to the fact that isn't going he anywhere. it's a private organization. although it's their right to determine their rules. hopefully we see rationality trickle into organizations as well. dagen: it was the screaming and
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pointing at people with signs that was like too much, a bridge too far and i was sitting next to a doctor who runs one of the major hospitals here in new york city at that show. so we were both kind of beside ourselves. i want to move on to shanghai. officials there aiming to have zero covid cases outside of quarantine areas by wednesday as its mass a i've covid lockdowns have left millions of residents frustrated. to accomplish that goal, officials plan to increase testing and accelerate moving infected citizens to quarantine centers. dr. adalja, your take on china's extremely strict, draconian lockdown and if you think it will work. >> i've always been opposed to what china has done with their covid zero policy. i don't think increasingly it's going to have the same effectiveness because we're dealing with a more contagious variant, dealing with a population that is starting to
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become -- to bristle at the draconian measures. they see the rest of the world opening up and coming up with a sustainable approach to covid-19. you're seeing the chinese government using methods to contain something that really can't be contained. this is going to be an endemic disease. what the chinese government needs to answer for is why are there so many high risk people there that are not vaccinated, why do they bad mouth the vaccines which are a key to protecting people in the pandemic. china has really failed on all accounts when it comes to covid-19 and i think this is not going to be successful, the virus will outrun the zero covid policy because eventually you have to end it unless you're going to isolate yourself from the world and from each other forever because the virus is always going to be there. it's not like a hurricane that's going to pass. dagen: dr. amesh adalja, terrific to see you this morning. great insight as always. we'll see you soon. >> thank you. dagen: coming up, an nft of
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twitter founder jack dorsey's first tweet losing almost all of its value. we'll tell you what the $2.9 million nft is worth now. hop topic buzz, next.
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tweet sold as nft last year for more than 2.9 million dollars worth tens of thousands 29,000 top bid i think man who bought the tweet just setting up my twtr, thought going to sell it for 50 million dollars, but as this morning, again highest bid about 29,000 dollars, jon this is federal reserve taking the juice and the loft out of assets asset deflationss nontokens can't call them things in some ways i think we are fortunate didn't show up in real estate would have hurt millions maybe entire banking sector, it went into this idea
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of nonfungible tokens that is deflating i think interesting if you look at bitcoin right now, it price down from something like i think 64,000 down to 39,000. in the last few months. so some errors coming out of that what i worn whether a lot more air to come out of that before, the -- the -- that was more like 5,000 when fed starts raising the cost of buying assets, start seeing values fall might have farther to go on some of these -- >> when they start reducing the balance sheet destroying money, and so, you know the assets go book on the way up, kaboom on the way down, barry how do you see it? barry: well, it wasn't just fed for sure the 1. 9 trillion-dollar stimulus technology mark lee brown, in bank deposits, the treasurying
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drawing down general account 1.8 trillion dollars into the system last year -- that is part of the meme stock i disagree with jon a little bit having in as much if you look at the 20 cities in house price index correlation of the price he increases something like 97% did drive prices we don't the leverage associated with it in 05, 06, but impacted housing as well so that is the key issue for the fed, in terms of getting some sort of a soft landing what happens to housing, he mortgage rates go up, mortgage spreads widen, and unwinding some mortgage part of the balance sheet in particular -- >> jon we can pick up i have something i will add about what happened before thank you housing crash, in 08 all
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lenders not all but lender made it easier to get into a mortgage as housing prices kept skyrocketing i digress sit right there next hour "mornings with maria" starts right now. . good morning, everyone. i am dagen mcdowell for maria bartiromo. monday, april 18, top stories 8:00 a.m. eastern. earnings season kicking into high gear, big financials reporting today bank of america, crossing earlier, this morning, with a beat on both earnings per share and revenue, ibm fist third lockheed martin haliburton next next johnson & johnson out tomorrow futures slipping ahead of the bdz week in earnings off lows, of the day, 55-point loss on the dow futures was north of triple
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digit loss earlier. this is after all three major market gauges fell last week, the nasdaq composite biggest loser, off 6 and one-third periods the week oil prices they've been lower, this morning, now we've got brent back to the plus side up 15 cents a barrel -- intermediate down 10 cents a barrel yield on 10-year reaching a more than 3-year high, getting very close to 2.9%, mortgage rates 30-year if i could rate the highest in more than a decade take a look at european markets, up slightly across the board, gains in england, france, germany asian market down on news of china's first quarter gdp coming in at 4.4%, hang seng, in hong kong, is closed for holiday. but biggest loser nikkei down
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1%. excuse me, twitter founder former ceo jack dorsey, siding seeming to with elon musk in battle with twitter's board of directors, dorsey saying over the weekend that notion that a bad board will kill a company every time, is quote big facts, this is issue that consistently dysfunction of the company says dorsey, ukraine four missiles strikes hit lviv this morning killing seven injuring 11 ukrainian forces in mariupol refused to surrender to russian's sunday ultimatum despite concerns over nuclear attacks from russia president zelenskyy speaking, on the prospects of chemical or nuclear attacks by russia. >> when they begin to speak about -- a battle or in both -- enemies or nuclear weapons
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or some gimmick you know issues -- they could do -- should think not be afraid -- i mean don't be afraid, be ready. >> stay with us, "mornings with maria" is live right now. . . . >> morning movers wendy's falling this morning in premarket trading down 1 and a third percent the giant getting downgraded by bmo capital markets to market performer from out performer, due to inflation concerns bmo noting wendy's not the as well positioned for tighter u.s. consumer spending compared o other of the giant once bullish on wendy's breakfast success says company will dmails as consumers will prioritize cheaper menu items, bank of america reporting first-quarter earnings about an hour or so ago, beating on
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both top line and bottom line earnings per share and revenue joining me to react richard bernstein deputy chief investment officer joining the conversation all morning long jon hilsenrath barry knapp your reaction, so far. >> good morning, dagen obtaining earnings have been pretty good i think the message you pointed to this underlying fundamentals for bank core bank very strong you have good loan growth profitability of loans, you know there were areas weakness some of the results but i think those are in at the o mostly in noncorporate business. reality is consumer and the loans the borrowers very strong position default rate in times of default rates very low right now. dagen: barry jump? barry: we talked about this
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earlier, absolutely agree with dan for me, the key issue is return on equity he can that level of profitability -- throughout last decadal sector struggled to get better than 1% on equity above 10% building capital quickly can be returned to shareholders are like that, now the result are going to benefit from the fed treating of liquidity, believe it or not, they had so much in the way of cash assets, it bumped -- regulatory requirements like the supplementary ratio fed saying going to fix that o over a year they haven't seen done, draining that criticallied going to help the banking not hurt it i see prospect really good over balance of the year for banks. dagen: dan? >> yeah, that is right you know, right now, i think as you step back big picture overall growth in the economy still holding up very well,
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and so you want to tone companies that are going to benefit not only from that but strong higher interest rate inflation environment i think banks are square in the middle of that story. dagen: what other sectors would fall into that. >> i think the classic ones think about you know, what companies will benefit from a strong growth environment one that is very pushed up, bolstered by higher inflation interest rates i think going to include the usual suspects like, energy, materials, to some extent industrials all them including financials going to benefit kind of what you are seeing in the so far, i think probably more room to run given what we are seeing right now. >> jon get in. >>. jon: a couple things to temper enthusiasm, a little bit on the financial side, so, bank of america earnings frp down at the beat expectations, but still down from a year ago
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it looked like market was expecting this slowdown, got it, wasn't worse than expected i do agree what barry said financial stocks are -- a lot single digitit ratios i don't see a lot of growth profit margin necessarily when fed is raising interest rates gap between long-term interest rates and short-term interest rates is narrowing the fed actively trying to slow the economy i mean it seems to me a value play, maybe but not necessarily a growth play, i wonder what our guests think about that dan? >> i actually you know agree with a lot of what jon just said the reality is that the fed you know ultimately goal is to tame inflation the way they are going to do that temper demand growth cycle
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sector the urban i have yoeth very strong eventual when the policy starts to impact the economy with a big -- that becomes a bigger concern for the time being growth is very strong, you know this is out of favor sector that is why it is so cheap. and i think the fact that interest rates are rising, we had all this concern around the inverted yield curve bad for banks now seeing a steep yield curve i think dynamics come together nice start for banks for the time being eventual you got to be concerned about if you -- an economy at more risk of a big, slowdown phenomenal. >> o before we go watching twitter obviously, with 43-billion-dollar offer from elon musk, the board moving in using could you understand of legal maneuvering to put in a poison pill when would essentially a cup musk from
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accumulating more than 15% the stock down about 3%, roughly if we take a look at it excuse me up 3%, sorry it was down about equivalent amount thursday a last week, what do you make of the future of the fight over twitter before we go? >> yeah, i mean as macro investor not area we focus on i think a lot more drama than anying implications for the market you have a billionaire wants to change full structure of twitter having a fight with the board, for control to do that does that tell you anything about the economy, broader market? i don't think so but makes entertainment. >> a fee speech absolutist going to walk that talk with some of his billions, thank you so much, good to see you
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this morning, pleasure, sir coming up the star will seekers are out companies preparing to put pay raises on job postings how will this impact job market jeff van drew coining to us talk about 23 suspected terrorists caught at southern border last year. 8:20 a.m. eastern you are watching "mornings with maria" live on fox business. . ♪ talking to you, and ♪♪ 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. i don't think they had camels in atlantis.
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dagen: new york city employers preparing to put salary ranges on job lifs a law to take effect may 15 aimed at addressing gender pay gap more transparency on pay this businesses calling the
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law wrong solution, in a tight labor market, pushing for it to be delayed until november. jon, was this necessary? jon: i don't know, i mean it certainly raises a question about compliance costs. you know. i don't know -- i don't see how solved gender pay gap problems for instance if you got, offices in new york, offices in other states, what do you do about other states what do you do about remote workers? it just seems like red tape that might not necessarily be the best solution. best way to get people paid more is to run a tight labor market like we've got right now that is really what is going to get people's pay up. dagen: right pay range, five
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grand to two million dollars. barry. barry: i think there's a key first of all i think really bad policy, and not just tightness of the labor market if you think about what happened after global financial crisis, workers ability fell people trapped in home with negative equity, the opposite effect a positive productivity labor again system shock in crisis of a pandemic much of which you work from home a lot of people don't need to be in new york city the mandate, going to push more people out of new york city. i you know, just strikes me as really bad policy. trying to attack companies don't need huddled indeed a trading floor like we needed to at lehman brothers it is making new york less
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competitive. bad policy. dagen: it is. jon: i believe similar rules in colorado, where you are sitting barry, so i mean i think one of the things is that other states might you know be part of a #metoo movement where they want to do you disclosure rules too like you walk into a -- new york city restaurant list all rules to comply with, then like here is another one. of the i agree with you i don't think -- i don't think it necessarily solves any problems but a lot of states are going to be following this. dagen: sadly i was going to say new york's slogan is -- welcome -- go ahead barry. >> in won't utah won't, states where people are heading to won't do it it will just -- >> until all liberals who moved down to florida from new
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york city, start -- start running away that they did in new york and turn this into hello on earth to eventually get out, i laugh. but a possibility. because they zmoont you got to look out for california plates. dagen: they didn't check the politics at the border or airport when they came in. coming up new york city democrats mayor eric adams saying progressive politics are playing a role in the country's crime surge new jersey congressman jeff van drew next to weigh in. . . with my hectic life, you'd think retirement
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raez. dagen: designateing record illegal migrant encounters in march topping 221,000, that marks highest number seen since president biden took office, that is a 34% increase from february alone. just from prior month. 24 as 23 known or expected terrorists were caught at
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southern border in 2021 spread across several points of entry joining me new jersey congressman jeff vandry member of house he homeland security transportation infrastructure committee, congressman van drew your reaction to new numbers? >> well, you know you don't have to be a rocket scientists to realize if you have open borders not having title 42 we haven't seen anything yet as well as rapidly expediting people back talk about title 42 important to speak about that also this was a policy there is a policy in place under the trump administration if you crossed somebody as they came in, you could rapidly expedite returning them don't have go through courts systems spend money literally have them for weeks months or years forever,
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sometimes. we haven't seen nothing yet they have done they are going to create a situation for us in america, that is going to be devastating. dagen: comments talking to constituents do they understand how dire this situation is being not you know, far impossibly removed from crisis at southern border many of them realize people are spread all over the country, you know, many of the flights take place in the evenings, we don't even know where they all are, you don't know their backgrounds very often you know some are criminals, some are sick, some are bringing fentanyl in some are abusing women and children dragged over, they realize you know what people realize they realize every level i am not trying to digress whether it
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is as far as law enforcement, as far as wokefying our military as far as supply chain as far as you know, what is going on with energy, our country is just being devastated, by the worst administration and worst president that we literally have ever existed in america. dagen: in terms of title 42, is it possible, mentioned earlier there is legislation it is a bipartisan bill, that is signed on signed on to by democratic senator kyrsten sinema of arizona five democratic cosponsors on bipartisan bill including mark kelly hoffman both senators up for reelection, also, fellow congressman cuellar from texas border district became 6th housing democrat to declare support for a bipartisan bill to block the end of title 42.
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without some other enforcement in place "the wall street journal" editorial page writing about this over weekend, nancy pelosi will not let that bill come to the house floor for a vote. will that change? a clear than any a political problem for democrats come november. >> a big political problem that is why i am glad doing this now but should have done it sooner, moderate democrats, i respect them, but not really, because you know they're not doing anything they are talking the talk but nothing is really happening they have to put real pressure on leadership, not just because election is coming, because hopefully they love their country, they don't want their country to be devastated you know what iss interesting about all this? title 42 supposedly there for covid and, actually, you know cuts numbers way back very helpful, and yet at the same time they are saying covid is
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not really a problem anymore we don't need it. but then in certain you know democratic cities reinstating the mask, in certain areas, going -- with other covid plans, and ends up -- it is a problem at airports, masks away problem or not, covid do you need restrictions or not at the border regardless we are not checking these people we need to check so much more carefully at the border i want folks to understand we are letting they can't be all about people letting bad people in this country going to do farm, frankly i don't believe governor abbott for what he is doing he is doing the right thing, so washington can figure out exactly what is going on what the problems are -- are really that exist in our country also, there are places, right to president
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biden's house, drop them off, he won't go to the border let's bring the damn border to him. dagen: before you go, we focused on new york city mayor eric adams blaming woke progressive policies for the city's soaring crime rates. >> major mistakes made throughout the years that, police commissioner is talking about, we have to rebuild that trust can't rebuild trust allowing those dangerous that have a -- repaetsdz history continue technique on streets. >> ideas to end the system getting rid of prisons. >> they are doing they started that, i mean, in new jersey our governor opened prisons up letting people out, one of the
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prisons being closed awful i mean when you have in brooklyn this individual had nine priors, in new york, three priors, in new jersey. we're surprised something happened? are you kidding me? he should have never been out of presides some people should not be out of presides or need to be there a long time, let's face it there are some bad people in this world. we need to make sure these -- our good people good americans are safe we've gone so far astray literally worried about prisoners, those that are incarcerated much more than worrying about hardworking good americans. this is really sick. so many of these policies are sick. so many of them have to be changes they had told us i remember in state senate they said we have algorithm we can figure out who can be let out who can't everything will be wonderful i wondered a lot
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about it then i don't wonder about it anymore we need real law and order go where we are stop-and-frisk make sure folks are safe. >> thank you so much for being here always sir. >> always a pleasure to be with you -- >> we will see you soon, fox news political analyst caldwell here to talk more bn crime across the united states, american states three mass shootings over the weekend you to be the want to miss it. after the break. . . at liberty butchemel— cut. liberty biberty— cut. liberty mutual customizes your car insurance so you only pay for whatchya... line? need. action. cut. you can't say that. [phone rings] sorry. is this where they're gonna put the statue of liberty? liberty... are we married to mutual? cut. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ only pay for what you need.
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dagen: to war on ukraine forces fired multiple missiles on lviv. gerri willis. gerri: good morning that is right, seven people dead 11 injured including a child. among the victims, ukraine says missiles struck three military targets fourth hit a
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garage, mayor of lviv called attacks genocide said. >> one in ukraine is safe. ukrainian troops holding off russian forces after rejecting ultimate to surrender could give russia land corridor in crimean peninsula florida department of education, is reevangelicing 54 of 132 textbooks prohibited topics critical race theory calling for publishers submit tests for review as governord you review woke pilots say they attempted to slap coat of paint on old house, racist extentialism for elementary schools. >> is it parolling out 12 jois
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for gender fluid pregnant avatars including presenting man, going along with convene and queen emojis, 10 coat nonstandard happened shake emojis with variety skin tones can't make that up "batman" story a major milestone fifth to gross 750 million dollars worldwide the sensation now highest grossing of 2022 so far will make debut on hbo max tomorrow not all good news for we are on warner brothers, off to rocky start lowest opening weekend of the series grossing 43 million in north america, i had high hopes for jude law my
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brother comic book kid turned into a film aficionado as adult said this is best "batman" of them all in terms interpretation of the character watching not in theatre but, this week. dagen: gerri thank you for that have a great morning gerri. dagen: three mass shootings rocking the nation of the weekend in south carolina two shootings happening 50 miles apart from one another one suspect has been charged in the first incident where at least 14 people were injured released supervision on 25,000 dollar bond, at least nine injured in second shooting yesterday, but no further information has been released. to two teenagers dead at least 11 people injured in mass shooting at airbnb party no
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suspects named fox news political analyst host of outlaw out loud, you've seen, far too often in your home city of chicago your family members are and friend have been -- you know, target of violent crimes, why is it does it seem a spreading not receding as we come trout lockdowns of a couple years ago. >>, as you know, we've seen a total increase if crime across the board. during pandemic, it continues. and the reason why it continues, is simple. when you got elected officials in office, that run liberal counties, where i am from in chicago where they let out 25,000 felony cases including murder and rape you have a thorough understanding as to why -- so many people the
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people accountable you mentioned how a suspect got released on 25,000 dollar bond, where does that stay tough on crime he should be locked up we should be seeing, real tough on crime policies but you don't see those much anymore allows criminals to feel very comfortable committing crimes knowing they are likely back on the street you think about cook county is a mentioned this included, murder and rape most severe crimes we can see from local level, so this is -- insane at this point liberals continue to allow for these things to happen, endangering their own citizens. >> there is a brazenness it is not just recollect lessless it is a bracenness of criminals repeat offenders one incident wasn't a violent crime but a robbery. a boutique in soho that was it was second time, the suspects
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hit this one little small store, this is independently owned not part of a vast chain they got nabbed i bet released without bail but got nabbed trying to get out of new york, stuck in traffic trying to get into harlem tunnel i think but the same people, who hit the store previously. so, again, it is brazenness of -- you know, reckless gun play intentional violence, using a firearm, even -- theft, assault, robbery you name it. because they know they can get away with it. >> exactly, i think eric adams mayor of new york summed it up very well why letting folks back out on streets that continue to commit crimes this isn't one time offense what someone did something a misdemeanor or something nonviolent you let them out these are people committing very serious offenses they are not doing it one time or two
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times or three tiles these folks doing it multiple times walking out as if they are not afraid of law enforcement not afraid of the police not afraid of prosecutors that would take their cases through court system if their cases get taken through court system this is reality in which the country is heading in what it looks like, when trump ran in 2020 saying hey, we got to be tough on crime law and order, law and order, no i everybody we can't o do that we need to talk social justice important sure, however, we need to be talking about protecting everyone, social justice really sent a man for those being rehabilitated that is what to be for not a spank on wrist when they do something violence horrible my family has been impacted far too many times in chicago i have family members shot, beaten not involved in the lifestyle at all but realities a lot of
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individuals law-abiding citizens liver in across the country because folks have chosen 1069 on crime approach. >> last week talking about gangs out in los angeles, that are targeting people in the streets. the follow home crimes as well one woman who was hit by a car intentionally as gang was trying to rob her i think of watch to toll home bandits followed people home her driving luxury automobiles out shopping, luxury stores i just wonder a lot of people victims, being targeted, and robbed at gunpoint, liberals maybe again kinds of crimes, that left wingers stand up speak up when it starts hitting them that is not really if case here. you saw all the -- you know, the left wing snots
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in new york city don't vote forrek eshg it was people 6 color in o boroughs to make sure eshgs eshgs got elected not liberal snots, show of driver live in high-rise co-ops. >> they have security too. >> right before we go do you think phenomenal that the tide does turn? >> i think some point they are not going to have a choice greatest constituency, african american consistently vote for them as heat furnishes up especially in areas impacted, things will have to change. but the truth of the matter is it has to be a united voices if not you will continue to see what we've been getting. >> george gascónday in l.a.
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eric garcetti the mayor, governor gavin newsom they are the problem, gavin newsom -- gavin newsom picked george gascón to run police department in san francisco when newsom was mayor picked hup as district attorney and mayor he didn't do enough destruction in incoherent part of the state had to do down south do more but they are everywhere unless people start voting in district attorney races we are doomed to suffer the people are doomed to suffer more and more violence at the hands indirectl -- >> continue to put money in, that is it. >> you are right. >> to recruit these candidates. >> you are right thank you, sir. great to see you you be well see any person soon. >> one day. >> we'll be right back, one might have favorite people on the planet to tell you everything you need to know about oil gasoline natural gas you name it he's got it. up next.
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dysfunctionally dysfunctionality . dagen: to look at oil prices steady to start this week, after hitting three-week highs earlier in the morning over fears about tight global supply, as biden administration announcing they
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will resume leasing for oil and gas drilling on federal lands this week sort of, first time new fossil fuel leases on public lands have been offered since president biden took office giving them through a court order, lipow president andy lipow what you can do of resuming leases on federal land by biden administration. >> well, i think a good thing, but really not going to affect gasoline prices for over a year, the biden administration is making available 144,000 acres of land sound like lot but industry wants five times that amount of land to drill on. and the second thing is that the government is increasing the royalties from 12 1/2% to 18 3/4%, basically running a piece of the action increases
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the cost of drilling. dagen: what do you see oil and particularly retail gasoline prices going? and your reaction to this report? i believe you in your note this morning, terrific european union considering adopting a phased in ban on purchase ofrun oil and natural gas. >> yeah if we look forward, the european union consumes four million bears a definite russian oil, opec secretary-general last week said there was no way that opec plus could replace the seven million barrels a definite russian oil if all was banned worldwide, finally we're seeing may 15 as very important date, because that is when the european commission sanctions kick in that prohibits doing transactions with the all
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producer gazprom natural gather producer transnet pipeline operator, the tanker operator, all means that it is only permitted if strictly necessary bp that murky definition we are seeing trading companies walkway from russian business further exacerbates the supply disruption, as a result, the oil market is going to go up, because it doesn't see the alternative supplies to replace russian oil. dagen: saudi arabia kuwait emirates combined i am pulling from midterm reading your notes every day, that four million barrel per day excess production capacity there was report last week opec plus, as a whole is pumping this is just oil but pumping below what it says that it is -- it is supposed to pump.
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>> right, exactly, i mean the opec production quota not met to the tune of million and a half million barrels day spare capacity is from three companies you mentioned very reluctant to pump more oil right now we have a very rocky relationship with saudi arabia and the emirates, one of the reasons is that the biden administration is negotiating with iran over their nuke agreement and of course, iran is you know, not -- the friends of saudi arabia and emirates you've got suni shiite acrimony over there as a result they are unwilling to help out united states at this juncture. dagen: before we go from israel gas going here in the u.s.? >> unfortunately i don't have good news for the consumer, i see it rising another 10 to 15 cents a gallon, up to 4.20, on
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a national average. >> andy thank you so much we've got national gas prices approaching high thereabouts, andy lipow awesome to see you. thank you for everything that you are doing be well that thank you very much for having me. >> sure always coming up, "saturday night live" has their take, big buzz of the morning next. . . . any facing an avalanche of demand? to ensure more customers can buy more sherpa-lined jackets, you call ibm to automate your it infrastructure with ai. now your systems monitor themselves. what used to take hours takes minutes. and you have an ecommerce platform designed to handle sudden spikes in overall demand... ...
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dagen: time for the big buzz of the morning saturday night live the weekend update mocking tesla ceo elon musk as the left panics over his pushed twitter and expands free speech on the platform. >> elon musk offered to buy twitter for over $40 billion so he can loosen his free speech rules. that's how badly white guys want to use the n word. >> [laughter] >> come on, elon built electric cars, he's going to mars why is he even involving himself with twitter? it be like if the prince of england gave it up just to mary ann actor. dagen: [laughter] they cutoff that joke, but john, i watched a lot of the weekend update. it was fun and they even took shots at joe biden. >> you know, this is proof to me that elon musk is going to up his bid for twitter, because he loves the attention. don't forget he co-hosts snl a
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year or so ago, so get ready for elon musk to be bidding more for twitter. dagen: and to make a comeback on saturday night live. barry? >> maybe he will buy that too. >> yeah, i don't know i'm still torn by this , is it actually about making money or some social platform, free speech utility, i don't know. i can't get my head around that. i don't know how you pay 43 billion for something that you're not going to make any money at. dagen: but he has ideas about how he thinks he can turn it around. i mean, he went through, i mean, deleted a lot of the tweets but some of them were clearly a joke like dropping the w in the twitter name and calling it "titter" but that kind of, that kind of thing but barry, so he has ideas, and again, a lot of people see him as putting his
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money where his mouth is in terms of trying to let everybody have a voice. real quick. >> no, i mean, i think that it's an admirable goal. i guess i'll leave it at that. >> i just think it's remarkable able that when you're that rough going out and buying something like twitter is not a big deal for you. dagen: yup, i know it's about 11 %, 12% of his network, thank you, ashley webster, take it away for stuart. ashley: i will, indeed, good morning, dagen, i'm ashley webster in for stuary varney who by the way will be back tomorrow all right, futures are down, as investors prepare for a big week of earnings ahead. you can take a look at the futures board, modestly down, a tenth or two, and ibm, netflix, tesla, among the many big names reporting first quarter earnings this week, and speaking of tesla , elon musk agreeing with a social media post


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