Meeting Between Trump and Obama in Oval Office Went Very Well; Trump Meets with Paul Ryan to Plan Immediate Actions; Karl Rove on Trump Plans;



Meets with Paul Ryan to Plan Immediate Actions; Karl Rove on Trump Plans;

Dollar General Stores to Create Convenience Store; CEO of Murray Energy

Optimistic Now About Coal Industry Upon Trump Presidency; President-elect

Donald Trump calling it a fantastic day in D.C. yesterday. Trump meeting

with President Obama at the White House, and they tried to move past angry

rhetoric from the campaign trail; The top issues for a new administration,

ahead; From infrastructure to the economy, what the president-elect needs

to focus on during his first 100 days in office; Get rich quick, the

details as Alibaba singles day nets the company a billion dollars just in

the first five minutes, incredible; Amazon getting a time out, meanwhile,

the fallout after a judge orders the company to refund parents for

purchases made by their kids; Honoring our nations heroes this morning, the

company that provides opportunities for veterans, all while making their

products right here in America; U.S. futures indicating a lower opening

this morning for the broader averages after a two day rally following

Donald Trump's election to the White House, with the Dow closing at a

record high yesterday. As the dust settles, the focus is shifting to

Trump's economic plan, Canada is now agreeing to talk about NAFTA, as Trump

vows to scrap and redraw America's trade agreement - Part 1>

Dagen McDowell>

Erian, Stuart Varney, Tommy Gibb, Tim Gibb, Lea Gabrielle>

Markets; Business>

[08:00:00] (BEGIN VIDEO CLIP)

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: Policy we talked about domestic policy as I said last night number one priority coming two months is to try to facilitate a transition that ensures our president-elect is successful.


MARIA BARTIROMO, FBN ANCHOR: The meeting coming as one anti-Trump protest turned violent and is declared a riot, the shocking damage and destruction in Oregon overnight.

A stock to watch this morning, Disney, the company missed earns expectations weighed down by loss in advertising revenue, from ESPN but the stock is going to be up today, seeing magic in premarket. We're breaking down numbers and tell you what is moving that stock. Futures, meanwhile, are showing the markets they're headed for lower open broadly speak despite the Dow closing at a record level yesterday seeing a pullback this morning. We are off at the worst levels of the morning, however.

In Europe markets are mixed the FTSE 100 leading losses down over 1 percent, in line in the CAC Quarante also weaker in Paris. But the DAX index in Germany is higher by two-thirds of one percent. Markets in Asia were mixed. The Hang Seng was the worst performer down one and a third percent as you see there.

The business world is honoring our heroes today. The company providing opportunities for veterans, all while making their products in America. All those stories this morning, joining me to talk about it for Fox Business Network Dagen McDowell, business economics professor at Kings College, Brian Brenberg, and Fox News Correspondent former Navy fighter pilot and intelligence operator Lea Gabrielle, and Lea we want to wish you a very happy Veterans Day, and thank you for service to our great country.

LEA GABRIELLE, FOX NEWS CORRESPONDENT: Thank you, and thank you to all of our veterans out there. I want to make a special mention to Audley Colehearst who died, He passed away a Tuskegee airman, he passed away in late October right in the middle of all this election, very little coverage. But Tuskegee airmen were the first black fighter pilots in our country. I really relate to them because I was one of the first female fighter pilots. And they did such a service in what they did for our country, some of the most respected airman. He was a radio man.

BARTIROMO: Thank you for saying that. And you also wanted to give a shout out.

BRIAN BRENBERG, BUSINESS ECONOMICS PROFESSOR, KINGS COLLEGE: Have a brother down at Fort Bragg, he is going to be stuck there for Christmas unfortunately, we are not going to see him, but we than him for his service, Tom. Thank you.

BARTIROMO: Big shout out to all our veterans, the men and women who keep us safe and free, every day, thank you.

Joining the conversation this morning former deputy chief of staff to President George W. Bush, Karl Rove with us. Murray Energy CEO, Bob Murray is here.

Former president Obama economic advisor Austan Goolsbee is with us, along with Allianz chief economic adviser, Mohamed el-Erian is here. Plus, the host of "Varney & Company", Stuart Varney will weigh in. You don't want to miss a moment of it, we have a big hour coming up.

We'll kick it off now with the transition, has begun, Donald Trump visiting Washington, D.C., yesterday, to meet with President Obama along with House Speaker Paul Ryan. Garrett Tenney is at the White House. He's got all of the rundown and the latest. Good Garrett, good morning to you.

GARRETT TENNEY, FOX NEWS CORRESPONDENT: Maria, good morning to you, who wouldn't have wanted to be a fly on wall for this meeting at the White House yesterday. Going into it, there was a lot of questions, after all, both men have spent much of the last few months launching highly personal attacks at one another. Instead yesterday -- initially we were told yesterday, the meeting would be brief not more than 10 to 15 minutes. Instead president-elect Trump and President Obama ended meeting together alone in the oval office for more than an hour and a half. Mr. Trump called the meeting a great honor. Mr. Obama described it as an excellent and wide-ranging discussion. And in the end both men said they look forward to working together, both now and in the future.


OBAMA: I have been very encouraged by the I think interest in president- elect Trump's wanting to work with my team around many of the issues that this great country faces.

DONALD TRUMP, PRESIDENT-ELECT OF THE UNITED STATES: The meeting lasted for almost an hour and a half, and it could have as far as I am concerned it could have gone for a lot longer. I very much look forward to dealing with the President in the future, including counsel.


TENNEY: The president-elect then headed to Capitol Hill to meet with House Speaker Paul Ryan and his discuss agenda for first 100 days in office. Last night on Special Report, Paul Ryan said Mr. Trump and the GOP controlled Congress are planning to quote, go big and go bold right out of the gate.


PAUL RYAN, HOUSE OF REPRESENTATIVES SPEAKER: I can tell you what I got out of Donald Trump today is this is a man of action. He is ready to get working. We're already talking about, you know, how to execute plans. How to get the transition working. How to make 2017 a success for the American people that just asked him to be president of the United States.


TENNEY: On Capitol Hill, Mr. Trump also laid out, four items that will be at the top of his to-do list. He mentioned lowering taxes, jobs, immigration, and reforming health care. Maria.

BARTIROMO: All right, Garrett, thanks very much. Garret Tenney with the latest there. Joining us right now, the former deputy chief of staff to president George W. Bush, and a Fox News contributor, Karl Rove. Karl, good to see you.


BARTIROMO: Your takeaway from yesterday's meeting between president-elect Trump and President Obama.

ROVE: Look, Trump has on a president-elect Tuesday night, Wednesday morning had a pitch perfect victory statement, and I thought yesterday afternoon, yesterday morning could not have gone better. The meeting with the president, I am sure, look, they both contemplated the meeting would go more than 10 or 15 minutes, but it is smart of them to say we are going to meet 15 minutes and then let it go for so long as it went.

That is a good sign, and the language coming out, both the body language and what was spoken in those meetings was I thought enormously helpful. I did think the president, the sitting president, got a little bit of a dig in when he said he was heartened by president-elect Trump's willingness to work with he and his team on these major issues. Look, president-elect Trump has a distinctly different view of what ought to be done about economy for example than what President Obama's current team does.

But I thought really good. And then to go to The Hill, accompanied by Pence who is not only vice president, but is the ambassador to the capitol is again, the body language, and the messages that came out of that were very constructive.

BARTIROMO: And Karl, the House Speaker Paul Ryan's interview with Brett Baier last night, he was gushing about the potential for the Republicans. But I want to raise this issue. President Bush, sent when -- president Obama and his wife were coming in to office, the first family was incredibly gracious to them. And president Bush said nothing during the Obama administration. He was very quiet and he removed himself in terms of the political stage. Do you hope president Obama does the same because we don't really know how he is going to carry himself once he leaves office?

ROVE: Well, I think he would serve himself well by letting new president have a decent interval to prove himself and to move forward on his agenda. But I am skeptical after having seen president Obama for whom I had some rather high expectations, actually believed him when he said he wanted to be the president of not red and blue states but United States.

He has governed in a distinctly different way, I thought it was very hurtful to our country and I think ultimately to the cause of Hillary Clinton for him to go out and play such a prominent role in the campaign. And to be so tough in his language and so belittling in his approach, I think it hurt him. At the end of the day it what it caused people to do is think, you know what, Hillary Clinton is going to be third term of Barack Obama.

And while I may like him personally particularly in comparison to the two people who are on the stage, running for president, I don't like what he has done and I don't want more of that. I mean, 62 percent of the American people wanted to -- thought country was off on the wrong track and they went for Donald Trump by 69 to 25. So, I think president Obama would do well to step back and let the new president-elect have a shot at setting the tone and getting his agenda moved.

BARTIROMO: I think you make such a good point, Karl, because the truth is Obama's legacy in question now is totally because of the way President Obama governed this last eight years, with his executive orders, with his going around congress. It enraged people. And then you add on to that, the FBI investigation around Hillary Clinton and those tapes, from the O'Keefe video showing the Dems had all these plans to incite violence. People wanted it to end.

ROVE: Yes, look, he also did not have good relationships with we know with the Republicans in Congress. That famous meeting where the House Republicans came to offer their suggestions about the stimulus bill. And he cut them off, cut off Eric Cantor by saying I won. That was the wrong tone to take.

We would not have in 2001 gotten the Bush tax cuts through if we had the same attitude about the chairman of Senate Finance Committee, Democrat Max Baucus of Montana, if we had said, you know what, we won. Forget it, we're not negotiating with you. And it set wrong tone. And he also ironically enough has a bad relationship with many in his side of the aisle in Congress because, president Obama treated them as potted plants and largely ignored them.

This gives president-elect Trump a real opportunity. Because if you go to The Hill and talk to Democrats and Republicans, you'll sense very quickly that they want get things done. And Trump if anything else is a deal maker.

And when he goes to The Hill whether it is on infrastructure or regulatory issues or tax reform, he doesn't have sort of opinions that it is my way or the highway. He wants to get the deal done and that is going to be very helpful in getting people to come together around some of these big issues if he is smart and keeps focused.

BARTIROMO: Karl, yesterday, you said after the economy that the new president should focus on rebuilding military. And it is common during a time like this, for potential foes to test a new president. Kind of like teasing a tiger. Poke a little here, prod a little there, what do you expect on this front and how well is this team prepared to respond?

ROVE: Well, look you are absolutely right. I mean, and particularly now, we have three sets of adversaries that are going to test us. Vladimir Putin, I think is going to make a mistake and think that because Trump said nice things about him after he said nice things about Trump, that is going to be able to get away with things in Central Europe and the Baltics that are very problematic for our security interests and those of our allies. And will require response under NATO obligations.

We have China, which is you know, we have a Chinese leader who is attempting to get another term, and there is a struggle going on, people are rumbling not about that, but about but future beyond that. And again, they're going to take this moment to exert their influence in the far Pacific. And that is going to be problematic and then of course, we have ISIS and al-Qaeda which will use this moment. I didn't think it was an accident that there were very serious reports about attacks in major American cities shortly before election, and they will attempt to make a statement.

They made a statement in 2000 and we didn't understand when it they attacked U.S. Cole that was directly aimed at influencing the U.S. election. They'll attempt to do something between now and then. And the president-elect has got to have his team, his foreign policy team, the Secretary of State, Secretary of Defense, the other director of national intelligence, national security advisor. These are some of the most pressing appointments he has to make right after the people in charge of his economic policy.

BARTIROMO: Yes, and he is doing that right now, apparently. Karl, thank you, good to see you, thank you so much. Karl Rove joining us there.

ROVE: Happy Veterans Day.

BARTIROMO: And to you, Happy Veterans Day to all of our vets out there who rely on so much. Coming up next fueling job growth within the coal industry. Take a look at whether Donald Trump can actually bring back mining jobs as promised.

Plus, there are there are gifts, we keep on giving, but are gift cards losing their luster? The stocking stuffer staple more popular than ever for everybody outside the recipients. Back in a minute.


BARTIROMO: Welcome back. Disappointing sales from a major retailer to tell you about it, Cheryl Casone with the details.

CHERYL CASONE, FOX NEWS CORRESPONDENT: Yes, Maria, we are watching shares of J.P. Penny this morning. The stock is actually plunging about 9 percent in premarket trading. Selling has escalated in the last half hour or so. The retailer came out with their third quarter sales numbers that missed the estimate. And Penny also reported a loss of 21 cents per share that matches the forecast but not helping though with the stock.

The retailer expects positive adjusted earnings for full year 2016 and they also say same-store sales will rise between 1 and 2 percent. But the street is not really buying it this morning. And then just in time, for the holidays, you got Google out with the Daydream View. It is their virtual reality headset. It is 79 bucks you can see behind me here. It connects to smartphone and it has got a little portable controller. Google has upgraded it from cardboard to a cloth, so far it can only be used with Google's Pixel phones.

The VR market though getting kind of crowded. You got Samsung, Sony PlayStation. As you see, they're all coming out with similar gear. We will see how it does for the holidays. And then Dollar General spreading their wings, the discount retailer getting into the convenience store business. They just opened their first store in Nashville. This is going to be fully operational beginning of the year. The chain apparently hopes to attract younger residents in urban areas that really wouldn't go to a traditional Dollar General store. They are going to call it DGX, and its aimed at the growing market for fresh food, grocery, sandwiches, beverages.

You are seeing Walmart also get into same game. And then finally with holidays approaching, the new survey about gift cards says get this, kind of surprising, we like to give them more than receive them. The Bankrate survey found more than half all consumers say some presents will be gifts this year.

But over a quarter of Americans say they would like to get a gift card instead of an actual gift. Basically, the survey found the millennials where the age-group most likely to favor gift cards, but they also were the group most likely to prefer a real gift. Make up your minds, millennials, I don't know. I will say this my parents always tell them to get gift cards. They love them and they can buy what they want. My brother as well. They're requesting it, I don't know what to say.

BARTIROMO: Wow, we are pretty much agreed upon, 100 percent on the set here about gift cards, I don't know, Dagen, weigh in but we all hate gift cards.

DAGEN MCDOWELL, FOX BUSINESS ANCHOR: And I can't figure out why -- I know I can sound like a moron but I don't use them very often.

BARTIROMO: You get the gift card and you put it somewhere and forget about it. That's what happens to me like umpteen times.

MCDOWELL: Or you get push back if you get one of those credit gift cards, credit card based gift cards. That you go to use them or you try to use them and the retailer is like, we don't accept those. And then they don't give you a reason why. That happens.

BARTIROMO: Then they expire. You put them somewhere and you forget about it, it'll expire.

MCDOWELL: The cards are totally to the benefit of companies that sell them. They came up with idea to make money and they are making it on you.

CASONE: I love gifts, don't get me wrong but you get a gift card, of -- small amount shall we say, to a store that carries very, very expensive items.

BALDWIN: That's what happened to Lea.

MCDOWELL: And I will never understand that either.

BARTIROMO: We couldn't afford anything.

MCDOWELL: We got a gift card for 500 dollars, but then when I started looking at the furniture that I wanted to buy, everything was in the thousands. I never did use that because I wasn't going to buy a several thousand-dollar couch at the time.

BARTIROMO: That is what they wanted you to do. Add to it. Buy something more expensive.

MCDOWELL: Yes. I don't know where that gift card is. I'd sure like to find it. We don't like them either.

BRENBERG: Five years worth of gift cards will get you there. Just wait five years you build up the gift cards then you can finally do it, right.


CASONE: The best gift is always alcohol in a really nice bottle.

BARTIROMO: Yes, when in doubt give it to me.

MCDOWELL: I think that was actually on a list of gifts not to give.

CASONE: If you have addiction problem, you check in advance.

MCDOWELL: Don't create one for your friend.

CASONE: Perfectly acceptable.

BARTIROMO: Coming up, Donald Trump's historic win had the coal industry fired up this morning. How he could bring mining jobs back to America. We are taking a look if those jobs will come back to America.

Then looking at Trump's first hundred days in office, what the president elect should focus on from infrastructure to trade. We're back in a minute.


BARTIROMO: Welcome back, Donald Trump, said he will make jobs a priority of his administration, watch.


TRUMP: We have a lot. Very strongly, immigration -- health care. Looking at jobs. Big league jobs.


BARTIROMO: But can the president-elect bring back mining jobs? That is where the real losses have been. Joining us right now is Murray Energy CEO Bob Murray. Bob good to see you, thanks so much for joining us.

BOB MURRAY, CEO, MURRAY ENERGY: Good morning, Maria, and thank you American veterans on this day.

BARTIROMO: Yes, that is what we have been saying all morning, and thank you for that, Bob. Trump has been appealing to working class miners on the campaign trail. We know that, we've spoken about this throughout the campaign. Critics are saying though the coal industry is too far gone at this point to mend. What do you see in terms of the industry and what do you feel that president-elect Trump needs to do to immediately revamp the industry?

MURRAY: Maria, this was a victory for the working men and women of America. And a repudiation of the special interests and particularly the Obama administration and bureaucrats that he has appointed who destroyed many American jobs. Our people just wanted to work in honored dignity. Hillary Clinton represented an extension. Her word an expansion of Obama's policies.

A rejection of the pay-to-play politics, a rejection of the radical environmentalists, a rejection of Silicon Valley makers of windmills and solar panels.

BARTIROMO: But can he do it, Bob?

MURRAY: The working people saw through this, and elected Trump -- yes, he will do it. He has the passion. He has the commitment, and has the mandate to do it. And he will follow through, and he must be very bold and not be distracted and cleaning up the destruction of the Obama administration and his regal king-like operation of the United States bypassing the congress, bypassing the constitution, and placing these distorters in the justice department because there are more criminals supporting Obama's outlaw activities in the Justice Department than anywhere in the government.

BARTIROMO: Yes, there was real obstruction of justice by the way during the FBI investigation. Just look at these numbers, Bob, because U.S. coal production has fallen drastically. Since president Obama took office coal production by power producers last winter down 20 percent compared to 2014. The decrease due to Obama's policy and also Americans jumping on his ecofriendly bandwagon, Brian Brenberg.

BRENBERG: Bob, also you have, all sorts of other energy sources here. I mean Trump wants to open up not just coal but fracking, you have big production going on in China. Has the market changed so much that even if coal unshackled it is going to have a hard time competing with all these other sources of energy.

MURRAY: You are correct and Maria is correct, coal cannot come back, to the level it was, and I have asked Mr. Trump to temper his expectations and statements in that regard. But we can stabilize it. The regulations have been coming out of the Obama administration, ladies and gentlemen, faster than we can read them.

Coal makes four cents a kilowatt hour electricity. Wind mills and solar panels cost six times more in the cost of electricity. And I think about that woman who is raising a family on one income or that couple that were relying on nest egg for in their pension years, they are paying out 22 percent of their income for energy. Mr. Trump has an energy policy. Hillary Clinton had no energy policy except reward billionaires who make windmills and solar panels and get a 4-cent kilowatt tax credit doing so.

Coal can't be brought back it can be stabilized. We need that 4-cent kilowatt hour to offset the 26-cent kilowatt hour wind mills and solar panels. And he will use natural gas so be it. All I want is a level- playing field in the coal industry, and not a government that is picking winners and losers as Obama has done. All the time, destroying so many lives, and so many livelihoods of working families in this America. These people are evil. He is evil and she said she will continue his policies. She is gone! He is gone!

MCDOWELL: Bob, what are your ideas for moving in the direction in some ways of renewable energy making it less expensive and then moving some jobs over to renewable energy.

MURRAY: Renewable energy can never be made competitive with coal fired, gas fired and nuclear fired generation, it just can't be. It is a concept that without the government subsidies wouldn't even exist. It can't be and it is not reliable. It is only there if wind blows and the sun shines.

What we need to do is have an all-of-the-above policy. And I am willing to compete with gas and nuclear, and the other low cost means of generating electricity with our coal. As long as the government stays out of it, and allows the marketplace to make the decisions, that will be the best outcome for America, because low cost reliable electricity, Maria, is a staple of life today.

BARTIROMO: Yes. Bob, you make a lot of great points and obviously, the sentiment was shown when those coal stocks rallied on the Trump presidency. People are hoping that the damage and the decline stop already. Bob, good to see you, thanks so much for joining us this morning.

MURRAY: Thank you, Maria.

BARTIROMO: Bob Murray joining us, coming up next, Donald Trump's plan for first 100 days in office. We are laying out his strategy to hit the ground running and whether it will pay off. Then highlighting the businesses helping our heroes. How made in America flip-flopped giving veterans a leg up, back in a minute.


MARIA BARTIROMO, MORNINGS WITH MARIA HOST: Welcome back. Good Friday morning, everybody. Thanks so much for being here. I am Maria Bartiromo. It is Friday, November 11, Veterans Day, a big shout out to all of the men and the women who keep us safe and free, thank you. Your top stories 8:30 AM on the East Coast, president-elect Donald Trump calling it a fantastic day in D.C. yesterday. Trump meeting with President Obama at the White House, and they tried to move past angry rhetoric from the campaign trail.


UNINDENTIFIED MALE: When you consider the high priority that the president places on a smooth and effective transition, I think that qualifies his excellence. It doesn't mean they agree of all the issues, they obviously have deep disagreements. But what they do agree on is equivalent to a smooth and effective transition. That's a good thing for the country.


BARTIROMO: The top issues for a new administration, ahead. From infrastructure to the economy, what the president-elect needs to focus on during his first 100 days in office. Get rich quick, the details as Alibaba singles day nets the company a billion dollars just in the first five minutes, incredible. Amazon getting a time out, meanwhile, the fallout after a judge orders the company to refund parents for purchases made by their kids.

Futures indicating a lower opening this morning after the markets had a record-setting week. We're seeing a bit of a pullback from the record levels reached yesterday for the Dow Jones industrial average. The tone was set in Europe, markets mixed there. The FT 100 leading the losses down -- down just over one percent on the FT 100 in London, the CAC quarante in Paris down one half of one percent. Markets in Asia, also closed mixed, the Hang Seng was the worst performer in Hong Kong, down better than 1 percent, as you can see there.

Honoring our nations heroes this morning, the company that provides opportunities for veterans, all while making their products right here in America. U.S. futures indicating a lower opening this morning for the broader averages after a two day rally following Donald Trump's election to the White House, with the Dow closing at a record high yesterday. As the dust settles, the focus is shifting to Trump's economic plan, Canada is now agreeing to talk about NAFTA, as Trump vows to scrap and redraw America's trade agreement. Joining me right now, former economic advisor to President Obama, Austan Goolsbee, along with Allianz chief economic advisor and President Obama global development council chairman, Mohamed El-Erian. Gentlemen, good to see you. Thank you so much for joining us.