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tv   FBN AM  FOX Business  January 11, 2016 5:00am-6:01am EST

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>> lauren: breaking news this morning, china stocks start another week with letdown. nearly 5% overnight. good morning, i'm lauren simonetti. >> cheryl: and good morning, i'm cheryl casone. u.s. stocks not being hit by the china selloff so far. looking to a positive open, the dow pointing higher by 74, s&p looking by 11 and a quarter, nasdaq is wow. >> lauren: finally, right? here you have the price of crude $32. seventy-two cents of barrel. >> cheryl: breaking news overnight rock star david bowie
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dies of cancer. we are going to have the story coming up. >> lauren: mexican authorities want to talk to sean penn. in the nfl wild card games, greenbay came from behind to defeat the redskins. minnesota and seattle the win with seconds remaining. those details coming up. welcome to fbn:am, first look at what's moving in today's markets and what to expect for your week ahead. >> cheryl: once again this morning go to asia, asian shares sankled to the lowest. tracy, a reporter for chinese state television. good morning, tracy. >> tracy: governing, ladies, 2016 continues to be a terrible
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day for trading. another plunge 5.3% after beijing released data and numbers over the weekend and football stocks were hammered while coal companies buck the trend. in hong kong the hang seng was lower to mainland's weakness. china says that retail stocks were broadly underwater but brokerages suffered losses. in japanese markets were closed. in south korea, down 1.2%. back to you. >> cheryl: tracy, thank you very much. >> lauren: let's bring it back home. it's worst ever 5-day start to the year. it looks like we could see another week of volatile trading. gary joins now, fox contributor.
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good morning, gary. what do you make of that? >> gary: you know, i don't know if i can look into the future even five minutes but i had a feeling about saturday or sunday, i just started getting bullish and maybe it was because i read that while the s&p and dow in bear territory, they're already in bear teartory. average stock is bound 24 per cent from the high. it was slightly disappointing to see the future so much. >> cheryl: bargain hunting is going to be on investors' minds. they are the largest consumer specially when it comes to oil and copper. commodities, is that what the
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prediction going to be. what do you say about u.s. stock affected by the chinese slowdown. >> gary: i'm wondering if some of the news is baked in. goldman sachs came out. any kind of positive, slightly positive, even if guidance is positive that comes out, i think it could be a boom for stocks. i'm not saying we are at the bottom but i am saying that people should start to inch into buying stocks rather than selling like they should have been, my gosh, a couple of weeks. >> lauren: gary b smith, thank you so much. >> cheryl: future is about 65, 69 points, so a different
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stories for markets. music legend david bowie died peacefully battling an 18-month cancer, last friday on his birthday released 25th studio album black star. bowie69 year's old. >> lauren: republican donald trump shared on volatile in china. >> we are so tied into china that when they go bad, we go in. what they are doing with devaluations is a disgrace to us. by the way, china is not the only one. china is the worst abuser of all, if they don't stop doing it, we have tremendous power overchina.
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>> lauren: trump is now saying doubts the tariff would be necessary. >> cheryl: trump continues to lead the gop nomination race. according to fox news poll tump stays on top among republican supporters. ted cruz coming in second with 20%, florida senator marco rubio in third, 13% while ben carson is at 10%. trump questioning closest challengers eligibility to be the u.s. president. >> he has to solve this problem because the democrats will sue him if he's the nominee, if ted is the nominee, he will be sued by the democrats. i would say that i would want to supreme court to rule because they haven't ruled. >> cheryl: cruz maintains there's no issue since his mother was a u.s. citizen. you want to make sure to tune january 14th for fox business republican debate.
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and then join maria bartiromo and niel cavuto for the late debate, 9:00 p.m. eastern time. you don't want to miss lou dobbs. >> lauren: democratic presidential front runner saying republicans have a history of trying to dig up dirt on the clintons. >> didn't work before, it won't work again because it is what people are focused on, not for the past but for the future. >> lauren: clinton adding she is going to talk about differences with the republicans because that's what americans care about. >> cheryl: well, president obama prepare to go deliver final state of the union address tomorrow night. instead of discussing a long list of proposals the president will aim to set the tone of who should replace him. wants to present an upbeat
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optimistic view of america, mr. obama will look for support for support sh issues like climate change, gun control and immigration that can help hillary clinton, the front runner for democratic nomination. south florida governor will deliver the gop response immediately after. >> lauren: joaquín el chapo guzmán, looking for extradition, following months on the run t process could take a long time as guzmán's lawyers work to keep muz gain in méxico. el chapo secret interview with sean penn essentially gave him away.
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>> cheryl: there you go. famous now and still rich. overnight action. again, particularly look at what happened with the shanghai losing more than 5%. hang seng a little down 3% and kospi down 1%. chinese government looking to stabilize the yuan. things are better over europe. >> lauren: you have green on the screen. look at that ftse a quarter and 1%. and dax futures up by .8% this morning. >> cheryl: will you go. i know. you have to gsh a long time ago. >> lauren: maybe today we won't
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trade like the way china does. down arrow for crude oil. 32.64 a barrel. gold prices up $2 and 60 cents. >> cheryl: mentioning what the china government did with the yuang. the euro is trading against the pound, mexican peso trading higher against the u.s. dollar and the yen slightly lower. >> lauren: the yield on the treasury, arised to 4 basis points. >> cheryl: the s&p 500 earnings are forecast to have dropped 4.2% in the fourth quarter. energy sector expected to be the biggest drag on s&p 500 results as oil prices continue to deline. alcoa first major company to report today. alcoa shares down since reaching highs back in 2015, other
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notable companies are intel and jpmorgan on thursday and citigroup wells fargo reporting on friday. that would be their second straight quarterly decline and that would meet the common definition of a profit recession. >> lauren: all right. today general motors faces first of six trials this year over deadly defective ignition in the cars. they're frequently used in products' liability litigation. general motors agreed to pay $2 billion, those covered 124 deaths and 275 injuries. >> cheryl: 2016 north america international autoshow begins today in detroit. all big automakers will take part in the show. ao makers will introduce 4 dozen vehicles and experimental concept cars.
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president obama is going to visit the auto show on january 20th to see how the industry has done since he took over. >> lauren: today's edition of the wall street journal. activist investor urges macy's to strike real estate deals. it could unlock values in the retail's property holdings. tracking devices are a tough sell. progressive are looking for ways to get devices to vehicles but customers are a little bit nervous about that. and kohl's with shares down 40%, struggling retailer is considering going private or each breaking up. >> cheryl: a lot of news the journal this morning. coming up here. at the golden globes, host gets craft. [laughter]
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>> cheryl: we are going to have the highlights for you. in the nfl wild card games, greenbay came from behind to beat the redskins. we are going to have details coming up. we want to take a look at u.s. stock market futures right now. we are looking at a positive up and despite more than a 5% fall in the chinese market overnight. you're watching fbn:am, first look at morning markets and breaking news. ♪ ♪ i don't want to live with the uncertainties of hep c. or wonder... ...whether i should seek treatment. i am ready. because today there's harvoni. a revolutionary treatment for the most common type of chronic hepatitis c. harvoni is proven to cure up to 99% of patients... ...who've had no prior treatment. it's the one and only cure that's...
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hmm. [cell phone beeps] hey! [police whistle blows] [horns honking] woman: hey! [bicycle bell rings] turn here. there. excuse me. uh.
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uh. [indistinct announcement on p.a. system] so, same time next week? well, of course. announcer: put away a few bucks. feel like a million bucks. for free tips to help you save, go to ♪ feed the pig [laughter] >> cheryl: ricky gervais talking
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about sean penn. won the best drama film. >> the golden globe goes to revenon. >> cheryl: leonardo dicaprio, best actor. meanwhile the globes names the martian the best comedy movie. math damián, a lot of questions about that. jennifer lawrence in joy. >> lauren: star wars topped the box office for a fourth straight weekend but in and out without competition, came $38 million. the film that stars leo
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dicaprio. fell $2 million short. star wars holding the top spot bringing $23 million in china where it just opened. if you round up the top 5, daddy's home and sisters falling to fifth place. >> cheryl: haven't seen one of those films. first to asia, a huge drop for the asian market in china. shanghai losing more than 5% despite the government trying to stabilize there. >> lauren: rest of the world saying no big deal today, china, we are going to trade up. ftse up, and dax futures up -- the best in the group at .6%. >> cheryl: u.s. stock market futures looking like this positive, dow is pointing higher by 50.49, s&p by 8 and nasdaq as well a little more than 12
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points. >> lauren: let's check on key commodities. crude oil prices continue to go tumble right now about half a buck. gold trading to the upside by more than $3, $1,100. >> cheryl: let's now take a look at the latest from the world of sports the greenbay beat the washington redskins. nfc wild card game. aron rogers recovered from two touchdowns. greenbay will play arizona on saturday. yesterday's nfc wild card playoff between minnesota vikings and seattle seahawks was the coldest game in history. vikings coach came out for the coin toss wearing a short-slee golf shirt in minus 6-degree weather. 20 seconds. 22 seconds remaining happening the seahawks the victory over the vikings.
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seattle ifer the play next week with carolina. clemson is six and one half point underalabama even though tigers are undefeated. can't explain that one. >> lauren: republican front runner goes after ted cruz and talks about china. >> when china goes bad we go bad and we are tie today their advantage. >> lauren: mexican authorities want to talk to sean penn, interview with el chapo guzmán. we will have the latest on that situation. let's show you u.s. stock market futures this monday morning. dow futures down 58 points. you're watching fbn:am, first look at morning markets and breaking news.
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sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. >> cheryl: breaking news this morning, china stocks start the week can another letdown. good morning, everyone, i'm cheryl casone. >> lauren: i'm lauren simonetti. u.s. stocks not being hit by the china selloff so far, checking u.s. stock market futures. dow futures 40 points, nasdaq up this morning. singer known for top-charting hits, fame, we will have that story. >> cheryl: mexican authorities want to talk with sean penn for
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interview with el chapo guzmán just before his capture. in the nfl wild card game, greenbay came from behind to defeat the redskins and in frigid temperatures. welcome to fbn:am, first look at morning markets and breaking news and what to expect on the day ahead. >> lauren: shanghai composite down after authorities there revise the yuang higher. kospi down 1.2%. japanese markets were closed for a holiday. >> cheryl: despite that, take a look at what's happening over in europe. ftse just went negative by a quarter of a point. cac in paris still higher, dax in germany up a little more than half percent.
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>> lauren: right here in the u.s., futures are up but dow futures holding onto 48-gain. s&p futures almost 8 points this morning. >> cheryl: check out key commodities. oil is at 32.60. loss of 56 cents. safe haven has been gold, gold up more than 4% this year. right now it's up more than $3. >> lauren: let's do politics, fox sharing thoughts on market volatility. >> maria: worst beginning year of decline of 6%. what is the meltdown? >> jobs are few and far between. you the phoney statistics where they show 5%, 5 and a half percent, 5 b .2%. the number is well into the
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20's people give up looking for jobs. >> lauren: trump would impose tax on chinese products into the u.s. and he says he doubts tariff would be necessary. >> cheryl: trump continues to lead the gop nomination race. trump says on top with 35% support among republican voters. texas senator coming up second with 20%. marco rubio at 13% while ben carson is now at 10%. meanwhile trump questioning his closest challenger'sility to be u.s. president. >> he has to solve this problem because the democrats will sue him if he's the nominee, if ted is the nominee he will be sued by the democrats. i would say that i would want the supreme court to rule because they haven't ruled. >> cheryl: cruz has maintained there's no issue because his mother was a u.s. citizen. make sure to tune in this
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thursday for republican debate, and then join maria bartiromo and niel cavuto for the late debate. the debate lineup is going to be announced tonight 7:00 p.m. eastern time on lou dobbs tonight. don't miss it. >> lauren: joaquín el chapo guzmán is closer to a u.s. trial. méxico is formally starting extradition proceedings after he recaptured following months on the run. the process could take a long time as guzmán's lawyer work to keep their client in méxico. meanwhile mexican law enforcement official says el chapo secret interview with sean penn helped authorities locate whereabouts. guzmán's contacts with actors and producers for a movie essentially gave him away. >> cheryl: well, earnings
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kicking off today, forecast to have drommed 4.2%. the energy sector expected to be the biggest drag on s&p 500, results in oil prices qont to decline. alco is first major company to report. there should be china news i should say. other notable companies are intel and jpmorgan. that's an thursday and industry group on wells fargo on friday. if overall earnings for the fourth quarter decline, second straight quarterly decline and that would mean the common definition of a profit recession. >> lauren: coming up, disappointed you didn't win the lottery this weekend. don't be. you have a shot at joining donald trump in the billionaires' club and it's now global phenomena. no pants day and check u.s. stock market futures this monday morning. dow futures higher by 32 points,
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s&p futures by 6, nasdaq gaining 7 points this morning. you're watching fbn:am, first look at morning markets and breaking news. ♪ ♪
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>> cheryl: taking a u.s. stock market futures right now. you had the selloff at asia shanghai not affecting the u.s. markets. dow the pointing higher and s&p pointing higher by 6 and three quarters. >> lauren: oil continues to selloff. down 60 cents. 32.56 cents a barrel. gold is up by $6 at one thousands and four. >> cheryl: you didn't win. >> lauren: i'm still here, cheryl. >> cheryl: neither of us won on saturday. last count the jackpot was $1.3 billion. that's the largest ever in north america. grand prize on wednesday is drawing 806 million if winner choses payoff. good luck, everybody. >> lauren: i haven't bought a ticket yet.
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>> cheryl: we will go. >> lauren: i take it you haven't either. so this event began in 2002 in new york, just seven people that year were part of group. well, ten years later the event has now spread to over 60 countries, the concept is pretty much as it sounds, passengers board a subway car in the middle of winter without pants. yeah, there you have it, otherwise they act and are completely normal except with no pants. >> cheryl: donald trump goes after ted cruz and talks about china. >> when china goes bad, we go bad. we are tied in and tied in to their advantage. >> cheryl: we are going to have the latest. and mexican authorities want to talk to sean penn about interview with el chapo guzmán
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just before captured by the marines. we will have the latest on that situation. now we pulled back about 40 something points in the last few moments or so but we are still pointing and dow looking up and s&p by 5. you're watching fbn:am, first look at morning markets and breaking news. ♪ ♪
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>> lauren: breaking news this monday morning, china stocks start the week with another big letdown. shanghai composite sinking 5% overnight. good morning, i'm lauren simonetti. >> cheryl: and good morning, everybody, i'm cheryl casone. well, u.s. stocks not being hit so far by the china selloff. checking u.s. stock market futures ahead of the opening bell. dow pointing up by 23. we are pulling back just a little bit.
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s&p up 4 and a half. >> lauren: oil prices moving lower overnight. decline of almost 2%. >> cheryl: breaking news overnight. rock star david bowie dies of cancer, fame and let's dance, we are going to have that story for you. >> lauren: mexican authorities want to talk to actor sean penn with interview with el chapo guzmán just before he was captured. >> cheryl: investors gear up for earning season. >> lauren: in the nfl wild card games greenbay came from behind to defeat the redskins and in frigid temperatures. those details coming up. welcome to fbn:am, first look at what's moving in today's market, the latest breaking news and what to expect for your day ahead. >> cheryl: well, what will this week bring after the dow industrial lost more than 6% last week? worst five-day starts to the
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year. let's ask gary, fax -- fox news contributor. the long-term threat of the weaken chinese economy could not be good for u.s. stocks. >> gary: to me it's we have not had a bare market in seven years. sometimes you need a catalyst to get one. the laws of the market have not changed. you get bow markets and bare markets. time is up. evaluations are too high and china has been the catalyst. i think there's more to go, the good news is that we wake up this morning and not down 300. we will probably get some rallying and i think we continue to stay careful right now. >> lauren: gary, as you're talking u.s. futures not
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slipping by trying to stay positive, of course, we are going to see the energy sector, the material sector not doing well. there's worry about the discretionary sector as well, some of last week's big winner guiding down, your thoughts. >> gary: i don't think earnings are going to be that good. i'm a big believer that the market is smarter than i have been else. when you see retail at new lows but when you see food, beverage, that's telling you going forward the market is we have economic growth here and down the globe. the market is telegraphing it. i do believe it's going to last a few months. i do believe we are going to go lower. i think we are going to be in the 15's and not the 14's in the dow. you let it flush out. good news is after this is over we are
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going to have a great market again. sometimes you have to go bad to get to some good. >> cheryl: you're calling 14 to the dow, gary? >> gary: remember something, i'm pretty sure we are going to get down there. the high was 18.3 if you had 20 to 25%. just remember something very important, that's normal for bare markets and if the seven years we are probably in the mist of one right now. >> cheryl: president of kaltbaum capital. thank you very much. >> gary: you got it. >> lauren: david bowie has died. he died peacefully yesterday surrounded by following following an 18-month battle with cancer. he was nope for adty, changes, under pressure. he spent two generations. last friday on his birthday he did release his 25th studio album black star, it was jazz inspired and selling well.
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david bowie 69 year's old. >> cheryl: donald trump on maria bartiromo sharing thoughts on volatility. >> maria: worst beginning year of decline of #%. what do you think is behind the meltdown? >> if you look at the rest of the country it's not doing well. jobs are few and far between, you know, you the phoney statistics where they show 5%, 5.2%. the real number is probably well under 20's. >> cheryl: trump criticizing china last week but he said he would impose 45% tax rate of products entering the u.s. but trump now saying he doubt it is tariff would be necessary. >> lauren: trump continues to lead the gop nomination race. according to new fox news poll trump stays on top.
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texas senator ted cruz coming in second with 20%. florida senator marco rubio is third and ben carson is at 10%. meanwhile trump questioning his closest challenger's eligibility to be u.s. president. >> he has to solve the problem because the democrats will sue him if he's the nominee. if ted is the nominee, he will be sued by the democrats. i would say that i would want the supreme court to rule because they haven't ruled. >> lauren: cruz has long maintained there's no issue with canadian birth since his mother was a u.s. citizen. a reminder tune in this thursday january 14th for the fox business republican debate. sandra smith and trish reagan will kick tawf early debate and then maria bartiromo and niel cavuto, they do the late debate at 9:00 p.m. eastern. debate lineup will be announced at 7:00 p.m. eastern, that is tonight, don't miss that. >> cheryl: joaquín el chapo
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guzmán, closer to u.s. trial. méxico saying that it is formally starting extradition proceedings against the drug lord after recaptured after months on the run. officials warn the process could take a long time as guzmán's lawyers work to keep their client in méxico. el chapo secret interview with sean penn helped authorities locate his whereabouts. contacts essentially gave him away. >> lauren: here is a look at the headlines in today's edition of wall street journal. urges macy's to strike real estate deals. then you have car insurers buying tracking devices, customers are worried. and kohl's weighs its next step.
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shares down 40%, kohl's is considering going private or even breaking up. >> cheryl: wow. at the gloalden globes the martian and reveneng win big. >> i'm going to be nice tonight. i've changed. [laughter] >> not as much as bruce jenner, obviously. >> cheryl: greenbay came from behind to defeat the redskins and in frigid temperatures minnesota hand seat it will win. once again the dow is pointing higher despite the selloff in china. dow pointing higher by 49. you're watching fbn:am, first look at morning markets and breaking news. ♪ ♪ we live in a pick and choose world.
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>> i want to do this monologue and then going to hiding. not even sure penn will find me. snitch. [laughter] >> cheryl: that was golden globe ricky gervais with secret interview with el chapo guzmán. the revenet wins the best drama film. >> the golden globe goes to the revenent. [cheers and applause] >> cheryl: leonardo dicaprio gets best actor.
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meanwhile the globes name it had martian best comedy movie and matt damián won best actor in that film. also a lot of good moments and we will bring those coming up in mornings with maria. >> lauren: he looks beautiful right there. look at the necklace. up about 35 points. s&p 6 points and nasdaq also up 6 points, cheryl. >> cheryl: key commodities. that's a loss of 59 cents. gold up more than $5. 11.03. safe haven. >> lauren: let's do some sports. there you have it. greenbay beat washington redskins in an nfc wild card game.
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aron rogers recovered and greenbay will play arizona. third coldest game in league history, but 88--year-old former vikings coach came out to the coin toss wearing a short-sleeve shirt in minus 6-degree weather. that's how they do it, people. 27-yard field goal try into the frigid wins hooks left with 22 seconds remaining, handing the seahawks a 10-9 victory over the stunned vikings. seattle will play next week at carolina. in basketball the brooklyn nets fired hollins yesterday. they reassigned king in the worst season. tony brown will serve as interim head coach and the gm position will remain open. lost four in a row.
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attendance has dwindled. $1billion. >> cheryl: stadium is huge. they have to fill it up to make the money back on that thing. she's back. fox meteorologist maria molina. >> maria: thank you so much. hello everybody, at home, we are going to bring you the weather now. it brought a lot of significant weather yesterday including tornado across parts of florida, behind that system colder air moving in and air moves in great lakes, they could see several feet of snow here over the next couple of days. extreme weather forecast there. out west we have a system that's moving in. bringing in areas of rain. we are going to see stronger storm in the west. the current temperatures, it's still very cold out there, midwest, great lakes, places
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like chicago waking up to current temperature at 0-degrees . taking a look at the forecast highs, much colder day across the north eastern u.s. and even southeast. only forecast to be in the 30's and 40's this afternoon in the areas. i'm back from the wedding, i'm married, i'm a mrs. now. lauren i haven't seen you since you've had the baby and congratulations to you too and i hope everyone is healthy. >> lauren: thank you so much, maria, and we will be right back .
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>> cheryl: real quick, we did have a selloff in china once again dispute's do government to stabilize the yuan. hang seng losing almost 3%, kospi down as well. so far not affecting u.s. stock market futures. dow pointing higher by 45. s&p up a little more than 7.
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nasdaq as well. that is it for me and we will send it over to dagen mcdowell. dagen, i will see you in a few moments,i am sorry about the redskins. >> dagen: thank you, cheryl. i was trying to put it out of my mind. [laughter] >> dagen: cheryl, we will see you in just a matter of moments. good morning, i'm dagen mcdowell, maria bartiromo is on assignment today. with me this morning anthony scaramucci and kevin kelly. more wild action in the markets. china composite sliding more than 5% overnight. yuan is higher against the dollar, people were looking for more stimulus, more buying from that communist government. other major indexes. you can take a look at the way
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hong kong did. japanese markets were closed for holidays. european markets cutting earlier losses, let's take a look at how your markets are all down across the board and the dax is trying to stay in -- well, maybe trying to get to positive territory n. the u.s. we are expecting gain as at the start of trading, slight gains, 34 points on the dow futures. let's look back at the markets last week. worst start to a year ever for the dow s&p 500. yeah, that's right. it last almost 1100 points. that we need a lot more to begin this week. earning season start this afternoon. take a look at the cost of crude, oil weighing on the markets. crude down nearly 2% this morning on supply. a glut of supply. breaking news over night, music legend david bowie died.

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