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New Foundation Details; Markets On Edge; Obama: Trump A "Loser"; Wrapping
Up Attacks on Campaign Trail; Escape After the Election; Starbucks Cups
Controversy; Iran, U. S Tensions Rise; National Security Concerns - Part 2>
Babin, Ed Goeas >
Hillary Clinton; Donald Trump; Sports; Chicago Cubs; Business; Starbucks;
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But we`ve had the worst wage growth among the G-20 post this recession. And if you look at Korn Ferry`s Hay Group data, you`ll find that on an inflation-adjusted basis, people are actually making less money today than they did pre-recession.
BARTIROMO: Wow.
MURPHY: Yes, I`ve seen that data go all the back into the early `80s, where people are making less money now. But I -- I think the biggest thing we have after the election is the Fed.
And you know, in -- in December, do we get a rate hike? And if we do, what happens? If you remember last year, into January, the market had a huge selloff when the Fed hiked just a quarter of a point.
So if we`re definitely getting a rate hike, what effect does that have on the market? GUARINO: Well, you know, we`ve -- we`ve actually recruited two Fed presidents over the last decade.
(CROSSTALK)
BARTIROMO: That`s right. Pat Harker is your latest one, right?
GUARINO: Exactly. And -- and so it`s a double mandate, right? Inflation -- they have to take us from inflation. And they have to promote job growth.
Well, job growth looks good if you look at the headline number. But the fact of the matter is inflation`s driven by people spending lots of money because they`re highly employed.
The numbers don`t bear that out. We -- we have some charts that will show you that we`re -- we are at very weak level of wage recovery.
So yes, they`re going to work. But they don`t have a lot of spending work. So where do we -- where do we get inflation?
HILSENRATH: Right, right. You know, the -- one of the -- one of the points I`d like to make about the Fed is this cycle this year is a little bit different than last year. We had a huge run-up in the dollar going into last year`s rate increase.
And we had a lot of turbulence in China. This time around, I think markets have figured it out that the Fed is going to do one. But they`re not going to do a lot after that.
And as a result, I mean, the dollar is a little bit stronger than it was a few months ago, but not that much. It`s pretty stable.
And we`re not hearing a lot of noise out of China right now, which I think suggests that the markets -- the markets have priced this in. I think they can digest the rate increase by the -- by the Fed in December.
BARTIROMO: Jon, did you hear anything yesterday from the Fed? Obviously, they left interest rates unchanged. We were expecting that.
Janet Yellen said that a raise in rates is likely before the end of the year. So we were expecting.
HILSENRATH: Yes.
BARTIROMO: .that as well. What was your takeaway from what we heard yesterday from the Fed two-day meeting?
HILSENRATH: Well, the -- the one thing that really struck me is that they`re -- theyr`e starting to see glimmerings of inflation picking up. You know, inflation has been below their target for 53 straight months, almost five years going now.
And they`re starting to see some signs that it`s picking up. And that`s another reason why they want to move.
So there were several references in their statements to -- to seeing a little bit of inflation out there. And that might lead to the kind of wage growth that we`re seeing has been missing and certainly has been missing in this expansion.
MCDOWELL: I want to -- to point out something, it was a note I got from Sam Stovall (ph) yesterday at S&P, that the -- the S&P 500 was down 2.2 percent in the three months prior to October 31, so from July through October -- from late July through October, which implies a Republican victory, this election cycle.
BARTIROMO: Wow.
MCDOWELL: Because if you go back -- if you go back and look since 1944, the S&P has fallen during those three -- three months. And the incumbent person or party has been replaced 86 percent of the time.
There was only one exception at 56 during the Suez Canal crisis. But I -- I just thought that that was really interesting.
GUARINO (?): Right.
MCDOWELL: And they don`t think -- S&P does not think that a Trump victory is factored into the markets at this point and does it -- they do expect a selloff.
(CROSSTALK)
HILSENRATH: I -- I think you`ve got to throw out a lot of those metrics and predictors of, you know, of -- of who`s going to win this election because this -- this whole election cycle has been so unpredictable. You know, a year ago, who would have said that Donald Trump would have been the nominee?
Who would have.
BARTIROMO (?): Yes.
HILSENRATH: .said that these -- that these e-mail revelations would have come out and -- and FBI revealing its investigation a week before the election. I just think, you know, you look at these stock market predictors.
And it`s just very hard to hang what`s (ph) on them right now.
MCDOWELL: Yes, I -- I -- I would agree. I just thought it was interesting.
BARTIROMO: It is.
MURPHY: Hey, Jon, it`s Mike Murphy. Have a question, since -- since this rally really began, we`ve talked about what, you know, bad news is actually good news. Bad economic news means lower rates for longer, which is good for the stock market so you can keep buying without any sort of major correction.
If -- if the Fed`s going to raise and has to raise, and that`s in the face of not great or not very strong economic data, I think that is the worst setup for the stock market. Can you speak to that?
HILSENRATH: Well, you know, I actually would take a slightly different spin on that. You know, I think in this case, the market has priced in that the Fed is moving.
And the Fed has been very, very deliberate about saying that they`re not going to do much after that. So I think we could -- when we see good -- if we see good jobs numbers tomorrow.
BARTIROMO (?): Yes.
HILSENRATH: .I think that the market will take that in stride in terms in (ph) the Fed and say, hey, maybe this -- this economy is finally starting to grow a little bit faster.
BARTIROMO: So the estimate`s a hundred 75,000 jobs created in the month of October, the unemployment rate expected to go to 4.9 percent.
Alan, you`re in the thick of things every day. You`re -- you`re placing people in white-collar jobs and -- and you really get a good sense of -- of how things feel.
Characterize the jobs picture for us right now.
GUARINO: I think as I`ve said in the past, we`re in a new normal situation. So we don`t have a big powerful robust job market.
But we don`t have a declining job -- job market either. So I think it`s sort of steady as you go.
BARTIROMO: Yes.
GUARINO: I think 175 is safe. I think 200,000 to the upside and surprise is potentially possible. But I think it`s a sort of, you know, steady kind of very shallow growth as we move forward in -- in terms of non-farm payroll.
BARTIROMO: But when you place people in jobs, where is -- where do you see the opportunities? What -- what areas?
GUARINO: So -- yes, so opportunity -- interesting, so first of all, for the first time, probably in the last -- since the recovery, large corporates are doing more hiring than small and mid-sized businesses. So that`s -- that speaks well for potential wage growth because big companies tend to pay more than smaller companies, the kind of folks they hire.
So that`s one thing.
BARTIROMO: What, like consulting lawyers, what?
GUARINO: Well, I mean, in terms of the industries, consulting lawyers and so on and so forth, professional services leisure and hospitality -- interesting and -- and health care. Energy, still -- still bouncing along, having a hard time.
BARTIROMO: And mining has been shedding jobs now for a long time -- mining and -- and manufacturing as well (ph).
GUARINO (?): Right, right.
BARTIROMO: Jon Hilsenrath, Alan Guarino, good to see both.
GUARINO: Thanks. Thanks (ph).
HILSENRATH: Great to be here. Thanks a lot.
(CROSSTALK)
BARTIROMO: Thank you so much, gentlemen. And our live coverage of the final jobs report before the election is tomorrow. It begins at 8 a.m. Eastern right here on "Mornings with Maria."
Join us. We`ve got a great panel, checking out the jobs number and number and where the jobs are specifically. We will see if Alan is right on the money as he usually is in terms of opportunities out there right now.
Coming up, a star-studded red carpet and memorable performances at Country Music`s biggest night of the year last night. We`ve got the highlights from the CMA next up.
And your Airbnb stake (ph) can earn you a getaway -- how you can fly high with Delta`s partnership with Airbnb. Back in a minute.
(COMMERCIAL BREAK)
BARTIROMO: All right, futures pointing to a mixed open this morning for the broader averages. Take a look, Dow Industrial is up about 12 points right now, S&P and NASDAQ negative.
We are looking at a couple of names on the move. We`re watching shows at 21st Century Fox, parent company of the Fox Business Network, reporting fiscal first quarter earnings at the close yesterday.
The company topped Wall Street expectations, a 22 percent increase in net income during the quarter, total revenue also higher, rising seven percent year-over-year. We`re watching Facebook this morning.
Stock is under pressure, the company reporting a staggering 56 percent growth in revenue during the third quarter. However, the stock is down because the social media company warned that growth is slowing and will continue to do so.
Take a look at the stock right now. that`s going to be one to watch today for sure. Violence breaking out at the site of a controversial oil pipeline in North Dakota. Here is Cheryl with the details there.
Cheryl?
CASONE: It`s really escalated, Maria, police firing rubber bullets and using pepper spray on protesters yesterday. And things got ugly after police took down a wooden bridge that the demonstrators had built to get to that sacred site.
Native Americans say the pipeline threatens sacred sites and the water supply. And now, President Obama says his administration is looking for a way to reroute the pipeline.
Well, there are more than 300,000 Honda vehicles with faulty Takata airbags on the road right now. Federal regulators calling on the automaker to do more to track down the owners to make sure those airbags are replaced.
Only 13,000 Hondas and Acuras have even been fixed. Mark Rosekind -- he`s head of the National Highway Traffic Safety Administration says, he`s talked to Honda about using private investigators to find the owners. Plus, a notice is out in different languages, to try and get the word out.
Well, if you like Airbnb and you fly Delta, listen up, you can now earn Delta Sky Miles for Airbnb stays, Delta announcing this partnership saying that customers will get one mile for every dollar spent on qualifying Airbnb stays. Reservations must be booked through a special co-branded website.
But it`s there. And country music`s biggest stars came out last night to celebrate the 50th anniversary of the CMA Awards. Carrie Underwood and Brad Paisley hosted the show.
They didn`t miss the chance to, of course, take a few digs at the presidential election when talking about the nominees for entertainer of the year. Watch.
(BEGIN VIDEO CLIP)
PAISLEY: Hashtag, #imwithcarrie.
(LAUGHTER)
But what I think doesn`t really matter because this show is rigged.
(LAUGHTER)
Big league.
UNDERWOOD: No, no, it`s not, Brad. But the people need to know, will you accept tonight`s results.
PAISLEY: Yes, if I win.
(LAUGHTER)
UNDERWOOD: You`re not even nominated.
(LAUGHTER)
PAISLEY: Then no, and you`re a nasty woman.
(LAUGHTER)
UNDERWOOD: OK.
(BEGIN VIDEO CLIP)
CASONE: So -- and it went on. Also the worlds of country and pop collided in national (ph). Beyonce took the stage with the Dixie Chicks to sing her song "Daddy Lessons" in that big poppy (ph) dress.
I`m going to stuff out (ph) a little big (ph).
OK, Maria, country legend, Dolly Parton, by the way -- this is cool. She was awarded last night the Willie Nelson Lifetime Achievement Award. And we love her here.
BARTIROMO: Yes, we do.
CASONE: Yes. Dolly Parton, she`s love (ph). Yes, congratulations.
MCDOWELL: Dolly Parton is awesome.
CASONE: Yes, she is.
MCDOWELL: And by the way, I`ll just -- I`ll add that Beyonce is actually as country as some of those hat-wearing dudes (ph) who are posing as country musicians nowadays. Go listen to Jason Isbell and Sturgill Simpson, who wouldn`t (ph) dare be at that awards show.
BARTIROMO: So what was she doing there then?
MCDOWELL: It`s a ratings ploy.
BARTIROMO (?): Yes.
TIMPF: People hear Beyonce and they`re (ph) got to -- got to see it. Got to see it.
BARTIROMO (?): She`s the queen.
MCDOWELL (?): Yes.
BARTIROMO (?): Queen B.
MCDOWELL: It`s all rates. But again, a lot of those people sitting in the audience, Beyonce is more country than your sorry selves.
BARTIROMO: There you go.
(CROSSTALK)
BARTIROMO: Coming up, the race for the White House, leading people to search for ways to race out of the country -- the best destinations for a post-election vacation. Yes, back in a minute.
(COMMERCIAL BREAK)
BARTIROMO: So does this election make you want to escape maybe the (ph) -- well, you`re not alone. Searches for travel to Canada spikes 40 percent recently after the most recent debate.
Searches for Mexico were up a hundred and seven percent after the most recent debate compared to the same day last year. Well, if in five days, things do not go your party`s way, travel experts at hotels.com can help you find an out-of-country destination that feels like home.
Joining us right now in a Fox exclusive, hotels.com North America General Manager, Josh Belkin.
Josh, good to see you.
JOSH BELKIN, GENERAL MANAGER, HOTELS.COM NORTH AMERICA: Good morning. Good to be here.
BARTIROMO: So first characterize what we`re seeing right now. A lot of searches in terms of leaving the U.S. after November 8?
BELKIN: Yes, I think every election cycle, you hear people talking about if their candidate doesn`t win, they`re leaving. This year, we really see people are putting their money where their mouth is.
As you said, searches are up for lots of destinations outside of North America, outside the U.S. And people really want a break, whether it is to buy a round trip and take a little getaway.
And we don`t` know how many people are buying one-way tickets. But regardless, we`re seeing lots of interest for people traveling abroad.
And with a strong U.S. dollar it`s a great time.
(CROSSTALK)
BARTIROMO: Where? Where are the top destinations? Where are the top destinations, Josh?
BELKIN: London is really our top international destination. And you know, particularly after Brexit, we saw a huge increase in demand there.
And it`s amazing how far your money goes in a place like London now, which there (ph), typically has been very expensive. I was just there myself last week.
And it`s mind-blowing where $200 gets you for a hotel now. You can stay in four or five-star hotels.
BARTIROMO: Wow.
BELKIN: .in Central London very inexpensively.
BARTIROMO: Partly because of the British pound.
MURPHY: The British pound although it`s rallying today.
BARTIROMO: OK (ph).
MURPHY: So Josh, when you see these people traveling, going -- are they booking one-way tickets, like do you -- do you see a lot of that honestly?
BELKIN: We`re -- we`re not in the air business so it`s hard for us to tell. But we do see, when people do travel abroad, I mean, they -- they`re definitely multi-day trips, and sometimes, multi-stops along the way.
TIMPF: People are saying if so and so wins, I`m moving to Canada. I don`t know why Canada, why always Canada.
BARTIROMO: I think Barbara Streisand said, she`s going to Australia.
TIMPF (?): Oh.
BELKIN: Yes, well, people want to go somewhere warm. Mexico is actually a place where you`ve seen quite a lot of uptake in -- in particular.
You know, Mexico beach resorts are very popular destinations. And again, with how the U.S. dollar has done against the Mexican peso -- great values there coupled with all-inclusive resorts.
And you`re talking four, four and a half, five-star, excellent resorts, everything all-in for about $400 a night, which is a pretty great value.
MCDOWELL: What -- and with -- what about Europe, not outside of Britain in terms of travel destinations, because once you got past kind of the -- the terror events of -- of late last year and then you have the -- the -- it`s cheap because the euro has fallen so much in recent history.
BELKIN: Yes, absolutely. So Paris, Rome are another top European destinations for us. And travelers are really resilient.
I mean, obviously, there`s a lot of unfortunate world events that have happened, which have perhaps put a slight dent in things. But travel -- travelers are really resilient.
We`re seeing good strong demand to those places. And then you look at airfares. They`re down with oil being cheap.
And the whole travel package is actually quite a good value to go a long haul right now. And we`re seeing a lot of people taking advantage of that.
BARTIROMO: So what -- what hotel recommendations do you have for us then?
BELKIN: You know, for -- for me, I love going down to -- to Mexico, the all-inclusives. There`s a bunch Playa Mujeres area, which is just north of Cancun.
You get the convenience of flying into Cancun. But you`re a world away from the hustle and bustle of central Cancun and you`re right on the beach of that turquoise water.
When you`re -- when you`re in London, I like staying alive (ph).
(CROSSTALK)
BARTIROMO: Yes, but is that a Zika zone? Is that -- is that a Zika zone? Is Zika still an issue?
BELKIN: You know, we`ve seen the same news reports I`m sure you, guys, have. But travelers have been really resilient.
And we`re still seeing lots of demand going there. The planes are still flying full. Hotels are going full.
And you know, when they`re struggling perhaps in the short term to fill rooms, they work with us. And we help get those discounts on the customers.
And -- and they`re buying.
BARTIROMO: All right. We`ll leave it there. Josh, great info. Thanks so much. BELKIN: Great. Thanks for having me.
BARTIROMO: Josh Belkin, joining us there. Coming up, as Americans gear up to travel this holiday season, the nation`s airports are in the spotlight.
The best and worst airports in the country coming up, next hour in "Mornings with Maria." Stay with us.
(COMMERCIAL BREAK)
BARTIROMO: Good Thursday morning, everybody. Welcome back. I`m Maria Bartiromo. And it is Thursday, November 3, your top stories, 7:00 a.m. on the East Coast.
The Chicago Cubs have done it, 2016 World Series champions.
(BEGIN VIDEO CLIP)
(UNIDENTIFIED MALE): This is going to be a tough play -- play. The Cubs winning the World Series.
(APPLAUSE)
Brian makes the play. It`s over. And the Cubs have finally won it all, eight, seven and 10.
(APPLAUSE)
(END VIDEO CLIP)
BARTIROMO: What a game. It was a moment, 108 years in the making, the game ending in the early hours of the morning last night. We will take you live to Cleveland, get all the highlights.
Plus Hillary Clinton`s celebration going viral -- celebrating the Cubs onto the race for the White House we go (ph). Melania Trump set to make her first campaign speech in the key state of Pennsylvania today while Huma Abedin returns to the campaign for a fundraiser -- this, as the rhetoric heats up on the campaign trail.
(BEGIN VIDEO CLIP)
TRUMP: She is the crooked one. There`s no question -- crooked Hillary Clinton. You know, that term is really stuck.
Everyone`s calling her -- has anyone seen crooked Hillary Clinton today?
END
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(Show: MORNINGS WITH MARIA) (Date: November 3, 2016) (Time: 07:00:00) (Tran: 110302cb.231) (Type: SHOW) (Head: Countdown to Election; Cubs win the World Series; Voter Fraud in Florida?; Facebook under Pressure; U.K. Exit Concerns; WikiLeaks E-mail Fallout; Down Ballot Battles; Beyonce at the Country Music`s Big Night; Best & Worst U.S. Airports ) (Sect: News; Domestic)
(Byline: Maria Bartiromo, Dagen McDowell, Katherine Timpf, Cheryl Casone, Adam Shapiro, Abby Huntsman )
(Guest: Michael Murphy, Brian Kelly, Rep. Sean Duffy, A.B. Stoddard, Byron York, Katherine Timpf )
(Spec: Stock Markets; Politics; Election; Crime; Hillary Clinton; Donald Trump; Transportation; Music Industry; Profile; World Series; Policies; Sports; Technology)
MARIA BARTIROMO, FBN ANCHOR: On to the race for the White House we go. Melania Trump set to make her first campaign speech in the key state of Pennsylvania today while Huma Abedin returns to the campaign for a fundraiser. This as the rhetoric keeps up on the campaign trail.
(BEGIN VIDEO CLIP)
DONALD TRUMP (R), PRESIDENTIAL NOMINEE: She is the crooked one, there`s no question. Crooked Hillary Clinton -- you know, that term has really stuck. Everyone`s calling her. Has anyone seen Crooked Hillary Clinton today?
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: The guy they nominated who many of the Republicans he is running against said was a con artist and (inaudible) and wasn`t qualified to hold this office. This guy is temperamentally unfit to be commander in chief.
(END VIDEO CLIP)
BARTIROMO: Election Day now five days away. Voters are already headed to the polls though. We are taking a closer look at the allegations of fraud in the battleground state of Florida.
The tightening presidential race has markets on edge meanwhile. The S&P 500 posting declines for seven days in a row. That`s the longest losing streak in five years. We`re going to go behind the markets, what is troubling stocks.
And checking futures this morning, we are looking at mixed performance this morning at the open. The Dow Industrials and the S&P 500 fractionally higher on the morning but the Nasdaq is under some selling pressure.
In Europe, markets there also mixed, take a look. Britain`s plan to leave the European Union hitting a roadblock. A high court ruling that parliament has to approve the process to start exit negotiations.
In Asia overnight, mixed performances. Japan, markets closed for a holiday and of course markets are all looking towards tomorrow`s important report on jobs coming out tomorrow morning -- 175,000 jobs expected in the month of October.
Facebook shares tumbling this morning -- this is the stock to watch -- on the downside. The social media giant warning that revenue growth from advertising will slow next year. That is outweighing the better-than- expected earnings that the company actually reported and the stock is going to open sharply lower.
Breaking news this morning -- Wells Fargo disclosing new details of investigations into its fraudulent accounts scandal. It says that the SEC, the Securities and Exchange Commission, has launched a probe now. The bank also expecting higher litigation losses than previously expected.
And with a peak holiday travel season coming up we`re looking at the best and worst airports in America.
Plus it was country music`s biggest night last night -- Dolly Parton winning the lifetime achievement award. We are taking you live to Nashville later on this hour to get all the highlights of the big show last night.
All of those stories coming up this morning. And joining me to talk about it: Fox Business Network`s Dagen McDowell; Rosecliff Ventures CEO Mike Murphy; and "National Review" reporter, Fox News contributor Kat Timpf. Great to see you.
MIKE MURPHY, ROSECLIFF VENTURES: Good morning.
DAGEN MCDOWELL, FBN CO-HOST: Good to see you.
And all public figures should learn something from Dolly Parton in terms of how she`s conducted herself and how she treats everyone she ever meets. I don`t care what time of day it is, I don`t care how busy she is, I don`t care how she`s feeling at any given moment. She stops and looks you in the eye and will always talk to you.
BARTIROMO: She seems like a sweetheart.
MCDOWELL: She is a sweetheart. And she is a professional and she has got a personality that I wish we could clone and just give away for free to most celebrities.
BARTIROMO: That came across. She joined us on the show a couple of months ago and that definitely came across.
This morning join us. We`ve got a big show coming up. Harvard Law professor emeritus and defense attorney Allan Dershowitz is here; the host of "VARNEY & COMPANY" Stuart Varney is weighing in; and founder and creative director of Samantha Wills Jewelry, Samantha Wills is with us.
You don`t want to miss a moment of it -- big program coming up.
And we kick it off right now this hour with just five days to go before Election Day. Hillary Clinton is leading the way in the battleground state of Wisconsin. Clinton holding just a six-point lead in the latest Marquette Law School poll, standing at 46 percent; Donald Trump is behind with 40 percent of the vote. And Gary Johnson follows at 4 percent, Jill Stein still at 3 percent. 6 percent of likely voters in Wisconsin are still undecided apparently.
Both Trump and Clinton were on the trail yesterday stressing how important this election is.
(BEGIN VIDEO CLIP)
TRUMP: So show up early and vote. Show up early. You know, the lines are incredible. Pretend we are slightly behind. You`ve got to get out. We don`t want to blow this. This is the one chance we have. It will never happen again.
HILLARY CLINTON (D), PRESIDENTIAL NOMINEE: There are just six day left in what may be the most important election of our lifetime. So let me ask you this. Are you ready to vote?
(END VIDEO CLIP)
BARTIROMO: Joining us right now Wisconsin Republican Congressman Sean Duffy. Congressman -- good to see you.
REP. SEAN DUFFY (R), WISCONSIN: Hey. Good morning -- Maria. Thanks for having me on.
BARTIROMO: What do you think is most important for the people of Wisconsin? Do you believe that 6 percent are still undecided at this point, five days to go?
DUFFY: No, I don`t. In Wisconsin, you look at the Marquette poll -- that is the gold standard of polling in our state. But if you look at the poll, what happened -- a couple of days polling took place before the Friday bombshell that came from the FBI last week, number one. But number two, the over sample Democrats by 6 percentage points.