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tv   Mornings With Maria Bartiromo  FOX Business  March 11, 2024 6:00am-7:00am EDT

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maria: good monday morning, everyone. thanks so much for joining us this morning. i'm maria bartiromo. it is monday, march 11, your top stories right now 6:00 a.m. on the east coast. today inflation data likely setting the tone this week for stocks as well as oracle earnings after the close tonight. markets are pulling back this monday morning after dow saw its worst day since october on friday, in an overall down week for stocks last week. the dow industrials right now extending the losses with a decline of 141, the nasdaq down 14 and-a-half, s&p 500 lower by 7 points right now as we get set for the february cpi number out tomorrow morning. followed by the ppi and retail sales later on in the week. we're watching reddit's planned ipo today, ta targeting 22 milln shares. bitcoin a major story, hitting another all-time high this morning, bitcoin is now above
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$71,700. we are on i it this morning. check out european markets, stocks are lower in the eurozone as well as you can see the ft 100 down 21 cac quarante down 29. and in asia overnight, more of a mixed story, take a look. we are looking at the kospi down and the best performer overnight was hong kong, hang seng up 1 and-a-half percent. japan was lower, down 2% on the nikkei average. back in washington, president biden is apologizing for calling laken riley's alleged murderer murdereran illegal, saying he sd have said undocumented. the comment sparking backlash including senator tim scott yesterday with me on sunday morning futures. >> talk about disgusting. joe biden is more worried about
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using the word illegal or undocumented, the word he should use is murderer. maria: plus, time is running out for tiktok, the house shores up support for a ban on the chinese owned app if it doesn't break ties with beijing backed parent company bytedance. everything you need to know coming up. joining the conversation all morning long, mark tepper, jonathan fahey, right here. "mornings with maria" is live right now. ♪ all right now. ♪ baby, it's all right now. ♪ all right now. ♪ baby, it's all right now. maria: all right. time for the hot topic of the hour. president biden is now walking back his words of using illegal to describe laken riley's you a ladies and gentlemenn -- alleged
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killer during the state of the union you dress. yaddress.>> i shouldn't have us. i should have used undocument. i don't share his view at all. >> you regret using that word. >> yes. maria: wow. laken riley's mother is slamming president biden for fumbling her daughter's name during the state of the union, calling him pathetic for that slip. former president trump met with laken riley's family at a rally in georgia on s saturday where he slammed biden for his comments. watch. >> biden has implemented a formal policy that illegal aliens who intrude into the united states are granted immunity from deportation, thus when this monster showed up at our border, he was set free immediately under the program, i call it free to kill.
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he got laken's name wrong. calling his lincoln. joe biden went on television and apologized for calling laken's murderer an illegal. he didn't want to call him illegal. he says he should have called him a an undocumented, not an p illegal. they want to call him neighbor. did you hear the other one, a newcomer. a newcomer to our country. are we going crazy or what? is this country going crazy? maria: jonathan, your reaction? >> it really is stunning, the callusness of president biden on this is truly remarkable. the state of the union he was sort of trying to talk tough on immigration but now we're back to the open borders policy which is the policy all along and these yo euphamisms.
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they are illegal aliens, they're not undocumented, newcomers, anything else. the reason they're talking that way, the administration doesn't think it should be illegal. they want to make sure anyone coming here doesn't think they will be thrown out. they want to keep the border open, keep encouraging people to come and let them know they consider it a faux pas to call them illegal immigrants even though that's exactly what this person was. maria: it's just incredible, mark. i mean, you know, we know that this guy murdered this innocent georgia nursing student. what was he thinking to actually walk back calling him illegal? u.s. immigrations and customs enforcement in boston arrested an illegal man who is wanted for murder in honduras, entered the done country as a got away. he was released after they ignored the detainer request,
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following an acall with a weapon. >> president biden asked the question, is this country going crazy. i would say absolutely. maybe not the whole country but least half the country right now. we're at the point where we are catering to criminals. we don't want to upset or hurt the feelings of criminals and that's just flat-out wrong. i mean, facts are facts. this guy entered the country illegally. he's illegal. and he's a criminal because he entered the country illegally and in fact the 10 million illegal migrants that have come into the country under president biden's wind chill are all criminals as well. when we talk about catering to criminals, look at what was said about this jose abara, following his arrest for murder. they the media, they called him an athens resident. the mayor of athens said he
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wanted to d to dignify everyones humanity and wouldn't condemn this illegal migrant. things have gotten so completely absurd. all president biden warrants to do is cower to his base. the white house is calling these illegal migrants newcomers and president biden continues to move further and further left. he's alienating the moderates. that's why you see president trump pick being up support. maria: they don't want to cull them illegal. they want these people to vote. they're looking for voters coming up in this upcoming presidential election. that's what is the reality here. and that is why you've got merrick garland vowing to stop voter ids going into the election. >> exactly. everyyou one knows the game here. this idea that everyone has to dance around this, they want all of the illegal immigrants to come into the country, they want them to eventually be he voters because they think they will
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vote disproportionately for democrats. that's the game here. everyone knows he it. when they try to pretend it's something else, the dishonesty is so pervasive, it's really disgusting. maria: markets are lower this morning as as investors anticipate a cut in interest rates but quest question when t. ken leon is up next with his expectations. and why the fire department of new york wants to punish some who chimed in. it's making a buzz this morning. don't miss a moment of it. you're watching "mornings with maria" live on fox business. ♪
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maria: welcome back. take a look at futures this morning where we are looking at losses extending this monday morning, dow industrials down 133 right now. the nasdaq is down 20. s&p 500 weaker by 8 points this morning as the 10 year treasury yield hovers around 4.1, 4.2%. look at where we are, the yield is sitting at 4.07%, having come down from 4.2% a week ago. the 10 year is up just a frac p fraction on the yield. we'll get the february consumer price index out tomorrow morning, followed by the february producer price indexnd retail sales coming out on thursday. joining me right now is cfra research director, ken leon. great to see you. thank you for being here. i know 99% of the s&p 500 has reported their fourth quarter at this point. we're waiting on oracle tonight
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and some retail as well this week. how you would assess the fourth quarter earnings period and who are you expecting in terms of the data coming out this week? >> great to be with you. first on earnings, it was a clean quarter. we didn't have any major disappointments and we're looking for with the economy stronger earnings growth as you go to the end of this r year and next year so nothing in terms of red a alerts on earnings. it's all about the economic data this week and the inflation path that jay powell and the fed are watching, the question with the cpi is being just right and not too hot. they are looking at not only the cpi but also something called the core cpi which xs out food an energy. later in the week we get the pulse of the consumer, not only on retail but also on friday with manufacturing data which will give us another glimpse in terms of whether the channels
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are getting stuffed with inventory or the demand from consumer and business is still good so there's a lot this week, just on economics. but you bring it back to the fed, they've got a lot of fed meetings before i think we see the first fed cut. march, april, more chatter. june is where the market expects the first rate cut. could be july. but directionally we view it as cfra as more important for the markets than absolutely when they start to cut rates. maria: it's an important sort of calendar to look at because we've been waiting for this rate cut and now we're pretty much consensus is in june and the ecb also expects it to be in june. all the while, earnings coming out pretty strongly. mark, i think oracle is usually a market mover. we'll see what oracle reports tonight and whether or not that's sets the tone. jump in here on earnings, mark. >> look, i think this is an
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important week from an earnings standpoint as we look at -- we've got kohl's, dollar tree, dollar general. one of the biggest themes we've heard out of earnings season is we have this value conscious consumer, heard it from walmart, heard it from target, heard it from a lot of retailers. it seems like the consumer has been incredibly resilient. but that's due to the fact that a lot of consumers are working two jobs, consumers are saving less money. they are reaching for their credit cards to spend so ken, i'm curious as to what you're expecting this week out of those retailers, kohl's, dollar tree, dollar general. do you think the commentary that we get from those companieses specifically is going reinforce this notion we have an incredibly value conscious consumer? >> it's a great question. on the retail data, we've had two months of negative declines. whether that's a third coming up upwhich suggests that we haven't
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spoken at large about what the fed did raise rates, there's a lag indicator that eventually impacts the consumers, especially the hard-working employee or household that can barely meet paying their bills. we also look at it from the back side in terms of credit risk and whether we begin to see delinquencies and credit card balances go higher and we're beginning to see that. but it's, again, nothing the at this point that would be alarming but there's a big percentage of the u.s. population that still suffers trying to pay their bills every month. maria: let me get your take on the banks, ken. the wall street journal is writing this. a year after silicon valley bank's collapse, the rules are still catching up as you new proposed basel 3 end game bank regulations won't address the root causes of the regional bank
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discomfort. new york bank corp. is facing stability risks. the stock is down better than 66% year-to-date, ken. what are your thoughts on the banks right here? >> we're all over this. and i think the journal's got this wrong. because the basel 3 end game for everyone is mostly about the largest banks that have systemic risk to things like a black swan in the market and had there we're going to see a higher capital build required for the jp morgans and banks greater than 100 billion. move to the regional banks or smaller banks, it's idiosyncratic even as jamie dimon has said it's been poor management of really their loans, that was true with new york community bank or there was depositor duration risk so it's really two dynamics of one where we're going to see more regulation will be with the largest banks and then unfortunately with some of the
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smaller banks they'll pop up from time to time where we see a bank specific issue. maria: i mean, it's interesting to watch this bifurcation going on throughout the banking system right now. we'll have to look at each case individually i guess. ken, it's great to catch up with you. thanks so much. >.ken leon joining us. quick break and then israeli prime minister benjamin netanyahu ready to defy president biden's red line on the impending invasion of the southern gaza strip. rob whitman is here coming up with reaction. stay with us. ♪ take me away. ♪ a secret place. ♪ a sweet escape. ♪ take me away. ♪
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>> would invas invasion of of , would that be a red line. >> i'm never going to leave israel. maria: that was president biden warning benjamin netanyahu that an attack on rafa would cross a
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red line, biden said he couldn't accept more dead palestinians. netanyahu responding, doubling down on the invasion plans. >> you want to ensure you'll go into rafa. >> we'll go in there. i have a red line. you know what the red line is? october 7 doesn't happen again. maria: joining me is virginia congressman rod whitman, vice chairman of the armed services committee and member of china select and natural resources committee. congressman, thank you very much for being here. your reaction to all of that? president biden is urging netanyahu not to go forward to start this cease fire and we don't even know if hamas is going to release any of these hostages. you heard what netanyahu said in response. >> maria, israel's our closest ally. we should not be dictating to israel what it needs to do to protect itself against hawaii a-
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against hamas terrorists, just not what we should be doing. what happens in fact this continues and israel goes forward? what do you think biden means by a red line? what does that mean for israel once israel does go forward? because netanyahu is moving forward. >> netanyahu is moving forward. he's going to make the decisions that are in the best interest of israel. we would be i believe resisting if he's rail were to tell the united states what to do to protect its interest around the world. i think we need to be very careful, very mindful that israel is in a situation as president net ya netanyahu saio make sure october 7 doesn't occur again. how do you do that? youyou destroy hamas. you take away its ability to perpetuate against israel. maria: president biden seems to be put being the u.s. at odds
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with israel. they were attacked in an unprovoked attack from hamas and throughout all of this, while the u.s. has been supportive of israel, it seems the last couple of months president biden has put the u.s. at odds with israel over a continuation of this. >> exactly, maria. we shouldn't be at odds with israel. they're our closest ally. we should be supporting them. we you should do everything wen to help them defeat and destroy hamas. we've seen the horror of that day. why we're not standing by them and a saying listen, we're not going to tell you what to do, it's just beside me. it's the wrong track. it's the wrong policy by the biden administration. maria: so much horror and wrong poly in the world. the new york times is out with a piece this morning called from china to new york by way of the southern border. they report that more than 21,000 chinese nationals have arrived in new york sigh since
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october of 2022. we've been reporting this. it's actually 20,000 people just since october of last year. that's the beginning of the fiscal year. these chinese nationals are not saying -- not saying in the city's migrant shelters. one migrant said he stayed in a chinese massage parlor in queens that charged him $10 a night, congressman. we've been reporting about these massage parlors given the fact that senator roger marshall from kansas told me the ccp is working with the drug cartels to get people into the country and then they're human trafficking them with a front of a massage parlor. your thoughts? >> maria, the trend that we're seeing with this vast increase in number of chinese individuals coming into this country is astounding, and it's alarming. we should be looking at what china is doing, again, to try to weaken the united states.
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we see their efforts whether it's the spy balloon, social media. they continue this effort. the surge of immigrants coming across the border i think does have potential national security implications. we are a country of legal immigration. the key is, though, china is not our friend. they look to exploit the united states and these individuals coming over i think should cause everyone to question why and why this surge recently. what's behind this? and i think there are national security implications behind this surge of illegal immigrants coming from china to the united states. maria: yeah. so what is it? i mean, i want you to listen to senator roger marshall with me just a few weeks ago on what he sayses is taking place with these organized crime groups in china. watch. >> we're seeing an explosion of human trafficking. the chai chinese triad,
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multinational, is behind this and wherever you're seeing fentanyl trafficking you're going to see human trafficking explode as well. we have more massage parlors than we do starbucks in kansas. i think that can be said in most every state. so this chai chinese triad, thee sophisticated. listeners the need to understand this is not the dirty workers like the cartel. the car he'll the is -- cartels doing the dirty work. the chinese triad are harvard trained accountants that mastered the money laundering part. you'll see massage parlors and next to it might be a nail salon, hair salon, those types of things. maria: that's stunning. harvard trained lawyers. harvard trained engineers coming% from china into the united states and setting up human trafficking businesses here. what can sell us about this? >> -- what can you tell us about
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this? >> we know the chinese are manipulating, they're exploiting, they will do everything they can to weaken the united states. this is one of their tactics, the things they're doing to harm the united states. i think we should be responding to this. i think that, again, it's a result of a failed policy by the biden administration and an open border and allowing china to operate in our country in this way. this is not in our best interest and i believe the things that a we should do to respond to this. maria: are the republicans able to do anything about the open border or have you just failed at that? >> well, listen, in the house we have put forth hr2, i think a very, very success border bill you which the president tries to blame republicans on his failed policies, i think the american people know better that it's indeed the 94 plus orders that
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he and secretary mayorkas have put in place that have weakened the border. he could resend those orders tomorrow. he has executive authority to declare an emergency and close down the border. he uses executive authority in other ways. the supreme court said it's unconstitutional with him forgiving student loans. he's not afraid to use executive power except when it comes to protecting the nation's interest like securing the border. maria: we'll leave it there. congressman, we'll be watching this as we have been more some time. rob whitman, thank you, sir. a quick break and then congress is ready to shore up support to ban tiktok in the united states many we'll talk about what does the legislation look like, how does the vote play out this week. we'll tell you. the biggest night for movies, we have the highlights and low lights from last night's oscars. stay with us for that.
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because advice worth listening to is advice worth talking about. ameriprise financial. maria: welcome back. two new york national guard members and one border patrol agent killed in a chopper crash near the southern border. cheryl casone with details now. cheryl. >> maria, that deadly crash happening friday afternoon. the uh72 helicopter crashing while conducting operations near rio grande city, texas. new york state tro tr trooper ad border patrol agent perished. the cause is under investigation. the situation in hey you the at they haiticontinues to deterior. there are additional security forces in place to ensure the i didiplomatic compound remains
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stable as the nation's most know notorious gang member becomes the most powerful man in haiti. he is reportedly in command of most of the gunman surrounding the capitol. he wants the prime minister to resign. the gang has been accused of mass murder and rape, among other violent crimes. kensington palace's attempt to squash conspiracy theories against kate miller backfired with a new image of her and her children. multiple news agencies retracting the photo over concerns it was manipulated, the associated press says the photo shows a misal misalignment of ps charlotte's right hand. the princess of wales has been
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missing from engagements after undergoing surgery. then there's this, the 96th annual oscars happening last night and oppenheimer clinching 7 out of 13 nominations, including best picture with al pppacino deciding to skip the other nominees. >> 10 wonderful films were no, mawerenominated. only one will take the award for best picture be. and my eyes see oppenheimer. yes. >> this movie was the movie that was with chris nolan. he is singular, he is brilliant. >> e emma stone stunned to tae home best actress for her performance in poor things.
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she revealed her dress broke during the ceremony. >> my dress is broken. i think it happened during i'm just ken. my voice is also a little gone. whatever. i don't know what i'm saying. oh, my god, i'm totally -- okay. i'm so deeply honored to share this with every cast member, with every crew member, thank you so much. don't look at the -- >> john cena raising eyebrow as he appeared naked, the actor only covered by the card. as for the show, it was just ken, ryan gosling's performance of the song from the barbie movie really bringing the house down, the crowd was dancing, singing along. it was one of the biggest and buzziest moments of the night. i know you and i will have more on the oscars in the next hour of "mornings with maria" but there are some of the early highlights. maria: we're going to talk more about that. it was a good show.
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i enjoyed it. thank you. the house is expected to vote on a bipartisan bill that would force bytedance to divest tiktok or risk being banned from u.s. app stores on wednesday. president biden says he plans to sign the legislation into law if it passes the house and senate as the wall street journal is reporting that former activision ceo expressed interest in buying tiktok. he reportedly floated the idea of the purchase to sam altman. i spoke with general jack keane about the tiktok threat yesterday on sunday morning futures. >> our entire intelligence community led by the fbi who is responsible for counter intelligence are all in agreement here that tiktok is absolutely a threat to our national security and certainly most significantly would be if we had a conflict with china in terms of what they know about the american people would be a huge advantage to them at that
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time they how to manipulate them. cthem. maria: joining us now is gatestone institute senior fellow, gordon chang back with us. gordon, great to see you. talk to us about the threat of tiktok. it's not just surveillance and gathering of user data, it's also the propaganda that tiktok spews out, right? >> yeah. absolutely. you know, what we have is 170 million spy balloon as people say but the real threat is the one that general keane talked about which is china'ses use of the curation algorithm to show your kids things or to not show them and china has used this curation algorithm to, for instance, promote illegal drug use in the u.s., spread russian disinformation about the ukraine war, exacerbate differences in the american public, support candidates that china favors, you name it. and really what we have to do is not only make sure that an
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american party owns tiktok but that we actually expropriate theal he algorithm. maria: initially trump wanted to to ban tiktok as well for all of these reasons. recently he's been going the about face. he says he's opposed to the legislation to ban tiktok because he thinks it will benefit facebook and its founder, mark zuckerberg. he says if you get rid of tiktok, facebook and zuckerberg writes it a different way will double their business, trump said. i don't want facebook who cheated in the last election doing better. they're an enemy of the people. the worries over social media continue to rise. jd vance said he wants google broken up, for all of the reasons about the power the companies represent ahead of another election. >> we've got to be concerned
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about the concentration of power in social media companies. and you know, in a technical manner, president trump is right. if you ban tiktok other platforms will do better. you've got to remember those other platforms are in american hands and tiktok is in the hands of an enemy. so i don't agree with president trump's statement about tiktok. we need to ban it. let's put it in the hands of an american party. these are things that can get around the problems that president trump identified so i think he's wrong about that. we've got a chinese enemy and we've got to recognize that's paramount. maria: it's a great point. china's national congress concluded the national session today. you've got an op-ed out called china is in distress and xi jinping may be on his way out. do you think that xi jinping with all his power modeling himself at. miafter mao zedong couldbe vuln?
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>> he's vulnerable. even if you accept the narrative that he's all powerful, you've got to remember that with power comes accountability and china is falling you apart and he isg blamed and a we've seen signs that do not occur in periods of stability. they coincided with xi jinping getting his third term as communist party general secretary, in other words, as ruler of china and that can't be a win coincidence. there are things occurring in china that we don't know about but they don't point to stability in the chinese regime. in fact, they point the other way. maria: does that mean to you that xi jinping gets more aggressive, gordon or do you the economy plummeting, the stock market lost $6 billion in value in the last couple of years, two years or so, does he become more aggressive or does he worry that the economy is so weak and the
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equities are so weak that he needs partnerships? >> it could go either way. but we have also seen xi jinping become more aggressive recently. it's not just taiwan. it's also in the philippines and south china sea. the state department warned the united states was going to use force against china to discharge our obligations pursuant to our mutual defense treaty with the philippines. no one wants to do that but we had to warn it which shows you that china's acts are really belligerent and aggressive. it could come anywhere around the periphery. we're seeing stress in the chinese economy and other aspects of the chinese society. yeah, i think we have to worry it's the worst of those options which china becomes more aggressive, lashes out and tries to distract the chinese people from the problems at home. maria: jonathan, jump in here. >> you mentioned going back to
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tiktok that they were using the plot form to promote certain -- platforms to promote certain candidates or certain types of candidates. i wondered if you could elaborate on that. what types of candidates or who are the individual candidates that china is using tiktok to prop up? >> china used tiktok and other platforms in 2020 and we saw this when the whole chinese communist party and central government propaganda organs started going for joe biden over bperson person in the democratic -- bernie sanders in the democratic primaries and were mobileized against president trump in the general election. what we saw is how china can use its apparatus to affect outcomes in the u.s. and by the way, china boasted about elected biden just a few days after the general election in 2020. we heard the chinese figures talk about how they would now control outcomes at the highest levels of the american political
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system because trump was out and biden was in. maria: oh, they want their guy in there for sure. gordon, that's true. because trump was so tough on china with his sanctions and tariffs, they don't want a he redo of that, certainly not now with their economy in jeopardy. gordon, thank you, always a wealth of knowledge from you. we appreciate your time. quick break and then new york city firefighters letting ag latisha james know just how they feel. >> oh, come on. we're in a house of god. and -- maria: see was trying to speak and they were yelling trump, trump, trump, and now the fdny's top brass wants to punishes those hecklers, it's making a buzz this morning. you're watching "mornings with maria" live on fox business. stay with us.
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>> oh, common, we're in a house of god. first, simmer down. thank you. thank you. thank you for getting it out of your system. i want to thank commissioner kavanaugh and chief hodges for that recognition. maria: that is the morning buzz, they were not stopping, new york attorney general latisha james getting flustered at the new york city fire department ceremony as me is booed by the firefighters who then chant for donald trump. trump, trump, trump they were saying. top brass want to investigate any firefighters who they say broke protocol by saying trump. the new york post obtaining an e-mail from the chief of the department saying that he recommends those who protested come forward so the commissioner, laura cavanaugh, won't have to, quote, hunt them
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down. a spokesperson pushing back on this, telling fox news digital no one is being hunted down. they want whoever broke department regulations. jonathan, your thoughts? >> yeah, this seems a really over-the-top and i think they should let this go. it shows atrocious judgment that they would bring latisha james to speak at one of their events. she is probably the most polarizing figure, she has weaponized her position as attorney general to go after a political opponent. everyone knows the political opponent is very popular among police officers and firefighters. they set her up for this horrendous judgment. they need to leave people you alone. the idea they should come forward and report them had selfs. these are firefighters putting their lives on the line. they put their lives on the line. they have a first impeachment right. maria: i won.>> i assume it ws
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probably latisha james' office, how is she supposed burn down the justice system if the firefighters are out there. this laura cavanaugh, i think it's an important thing to recognize she's the fdny fire commander. she's not a firefighter. she's never been a firefighter. she was appointed by eric adams so now she's in the role of having to hunt down these firefighters who, again, were just practicing their first amendment right while latisha james all the while is in the process of going after everyone except the real criminals. one of the latest battles is going after someone who banned transgender athletes from participating in women's sports. maria: we've got crime spiking if new york city across the board and migrant crimes
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specifically. special counsel ro robert hur st to testify as the doj misses the deadline to give congress the transcript of the interyou view interview ofbiden. it's the hot topic of the hour. you're watching "mornings with maria." we'll be right back. ♪
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maria: welcome back. good monday morning, everybody. thanks very much for joining us this morning. i hope you're having a good monday. i'm maria bartiromo. it is monday, march 11, just before 7:00 a.m. on the east coast. time for the hot topic of the . robert hur is set to testify tomorrow on his report of president biden's handling ofs classified documents. here's florida congressman byron donalds on how biden's age doesn't absolve his from violating the espionage act. >> i find it to be completely disgusting by the department of justice, house oversight and house judiciary are doing our jobs. we're requesting the information from the special counsel on his investigation into joe biden and let's be clear. this is not about joe biden's activities during his presidency. its is the fact that he did take classified information fro

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