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tv   FBN AM  FOX Business  August 3, 2018 5:00am-6:00am EDT

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"strange inheritance." thanks so much for watching. and remember, you can't take it with you. >> the question is where do we go from here? on the other hand not a valuation and to grow another 10% to create another s&p company within apple and it's not easy. cheryl: market milestone as apple becomes first u.s. company to cross $1 trillion in market value, another key marker the company needs to cross. lea: rally in apple and text dooks pushed nasdaq nearly 100 points while the dow 7 points lower. cheryl: today all eyes on the july report, just due a few hours from now ahead of the futures slightly low e, down 21
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in the premarket, nasdaq down three quarters of a point. lea: in europe european stocks opened higher, here is a look right now, ftse higher by 4 tenths of a percent. the cac quarante almost a quarter percent and dax in germany higher about a half percent. cheryl: great numbers there, good to see. change shy in composite in china fell 1% on ongoing fears of trade in the u.s. lea: get ready for cardless atm, fbn:am starts right now. ♪ ♪ rl cheryl august 3rd, we made it, everybody.
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cheryl casone. lea: breaking news this morning, apple hitting new milestone becoming first american company to surpass $1 trillion in market values. cheryl: shares of apple slightly low e in premarket, who cares about a quarter of a percent right now, in a memo to employees, tim cook said while we have much to be proud of, it's not the most important major of successful, always staying true to values, jonathan hunt in los angeles with more. >> tim cook is probably feeling like a million bucks, actually let's make that more like a trillion with the t, the tech giant becoming the first american public company to cross
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$1 trillion in value thursday. >> show that is people don't mind paying a thousand dollars for a cell phone. >> the milestone marks the latest triumph for the trend-setting company that was started in silicon valley garage 42 years ago, achievement almost unimaginable two decades ago when apple was on the edge of bankruptcy to survive the company the property brought back cofounder steve jobs. >> apple started in my parents' garage and steve and i put a lot of years into it and apple has a lot to contribute to it. >> jobs died in 2011 and replaced by cook, computer executive. >> the flagship product is the i10, does facial recognition, it does sell for about a thousand
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dollars. >> now get this, if you you to buy $10 worth of stock at lowest point that investment is worth about $2.6 million. in los angeles, jonathan hunt. cheryl: cbs quarter expected and ceo les moonves wasn't asked a single question about sexual allegations against him. charlie gasparino says this is a problem in general. while analysts are paid to advise investors, also in the pocket of the companies that they cover since firms get huge rewards from investment fees of the company. he has a good piece on fox
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business.com about it. cbs shares falling more than 1%, the stock is down more than 8% since allegations came to light on friday in new yorker article. lea: the elephant in the room on the call yesterday. the investors are gearing up for economic story, the july's job report, 190,000 jobs, down 23,000 from june, unemployment rate expected to take down 3.9%, 18-year low of 3.8%. big focus would be on wages, analysts estimate hourly wages raise which could spark worries about inflation, we will have complete coverage and analysis on mornings with maria starting at 8:00 a.m. eastern with job's in america special. cheryl: great panel lined upup as well.
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edward lawrence with the details. >> the president came out firing in his speech this time is about the democrats and election win for the second time this week the president touted and pushed republican candidates for elected office, this time it was for lou barletta among others for senators created new name for democrat from pennsylvania sleeping bob casey, we told energetic crowd democrats want to be obstructionists an touted the successes of the company including jobs the administration created. >> we are putting steel workers back to work at clip that is nobody would believe. u.s. steel is opening up 7 plants, new cars opening up a brand-new 250 million-dollar plant in florida. the president highlighted how other administrations have not been able to handle north korea and his administration has done more to win around the globe.
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>> i have a long great with chairman king, it's a good thing and not a bad thing, by the way. i got along with and you know what, baby i've got the hostages back, didn't have to pay anything. and you know what, honey, they are not testing anymore nuclear, they haven't had a test in nine months and you know what else, they're not sending rockets over japan and they're not sending missiles over japan. >> he went onto say he had great meeting with russian president vladimir putin, the media criticized him for not starting a fight with the president and went onto what happened to diplomacy and in keeping with last rally he mocked other administrations, the president especially when it comes to nato funding. can you please pay up so much money, wonderful meeting you, thank you very much, they don't
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pay, i came back and say, fellows, you're delinquent, you have to pay, you to pay. >> the president wrapping up saying he needs to change immigration laws to fix the system. back to you. lea: thank you impressive stock debut. cheryl: tracee carrasco, a lot of mixed expectations for ipo? >> there was, quite a first day, the stock surged 33% above initial in market debut, 19.91 after being priced at $15 on when night, the lowered price below the 17 to 19-dollar range sonos had initially targeted in part to recent selloff in tech stocks. cheryl: let's talk about warner music trying to reach the ears
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of younger audience. tracee: acquired hit fix dime and up rocks itself, the 10-year-old online hub and video production house aimed at younger generations, 40 million people across social media, youtube and beyond the terms of the deal were not disclosed. lea: all right, interesting, we are using less cash but now chase wants to move away from cards, can you explain what this is all about? >> this is forward-thinking move, chase is rolling out cardless transactions to most of atm's so you no longer need physical debit card and can get cash using mobile wallet like apple pay or google pay or samsung pay on your smartphones, atm's with the cardless symbol you open mobile wallet and tap your phone and enter pin number to access the account, the number appears in mobile wallet.
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cheryl: they've debuted in some spots in new york. tracee, thank you. lea: thank you, tracee. well, california is taking on the trump administration again, this time over car emissions, the state attorney general preparing lawsuit against the administration's proposal to dramatically roll back obama-era vehicles emission standards f ato wanted the proposal would prevent the golden state from setting its own separate standards, 19 other states are expected to join that suit. cheryl: all right, we've got a lot more coming up. iran begins major military drill during vital straight, what's being seen as provocative move by iranians. lea: what's next for apple now that it crossed 1 trillion-dollar mark? we will take a look. let's take a look at u.s. stock market futures ahead of the opening bell, red on the screen this morning, dow futures low by 21, s&p lower by 1, nasdaq lower fractionally, you're watching
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fbn:am on the friday morning. stay with us.
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lea: welcome back, first take a look at u.s. stock market futures, dow futures lower by 23, nasdaq low e by 2 as well.
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a new-comer claims victory in gop primary for tennessee primary, bill leading out three republicans to get the nod, one of them congresswoman dianne black, lee will face democrat carl dean in november. current congresswoman marsha blackburn easily winning gop, she will face tennessee former governor democrat who also won by a landslide. iran has begun a major naval exercise, u.s. officials say maneuver involves a hundred votes ships and drones, annual exercise that been moved calendar reinforcing the view that it is a response to president trump's recent comments about iran. and secretary mike pompeo rather meeting with his turkish counterpart overnight demanding american pastor held captive be set free, state department seeing the two had constructive
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conversations but no agreements were made. pastor andrew brunson is facing terror-related charges while under house arrest, faces up to 35 years if convicted. the white house not bunling on economic sanctions placed on turkey after they refuse today release brunson and that's what's happening now, cheryl. cheryl: all right, a lot going on over there and a lot going on here in the u.s., apple's milestone to become first u.s. listed company to hit 1 trillion-dollar market cap helped drive technologies higher yesterday, all right, now what's next for the sector, earning season started to wind down but a lot to talk about, hey, good morning, steven. >> good morning. great to be with you. cheryl: we were talking about am, it's funny because you are getting, great market watch opinion piece that the next thing they have to hit is $250 a share, i mean, that was a quick celebration in the minds of analysts, what do you think is the next milestone that apple needs to hit after the trillion dollar number?
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>> well, you know it's funny you say that because one of the things we think with apple that kept them successful is hitting the next milestone, they are always moving forward. you know what, the success they've had is constantly improving product and understanding that their technology, you know, customers have to understand it and they are part of overall customer experience. they need to continue to grow on service side which has been good growth for them. cheryl: you're talking about the services, interesting comments that we have seen is apple went from being operating system for a phone to being operating system for our lives, they really have encompassed all of our lives. now i think what the next thing we want to see maybe is the home pod expansion with apple television more services there, where do think they actually need to grow the most, is it the services or do you think they need to update iphone numbers, they missed estimates by just a
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hair when they reported earnings? >> well, they missed the numbers by a hair but the selling price was up, the customer value what their products do and differentiated. and i think it's notable that there are other competitors that at that price point it's high-end but they weren't successful because they didn't have the ecosystem, we view the home pod, the tv as all part of overall creating a valuable customer experience and you can't forget, unique to their -- unique to the group they have retail stores, easier for the customers to understand how they go together, that goes back to legacy of the very first ipod. we think -- cheryl: sorry, i was going to say i saw image and it was a business week cover from years -- decades ago when it was the end of the era for apple, the death now for apple is being sounded, what do you think steve jobs would say about where the company is today, do you think they stayed true to core vision of what he wanted apple to be?
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>> i do. when he came back to the company the idea was to make things easier to use and integrated, getting back to ipod or early mac's when he came back, what made them different wasn't the latest and greatest technology but they were easy to use, customers can figure out how to use them and got them to function and became part of their lives and that's the vision that apple continues to execute. cheryl: real quick, next company to hit a trillion dollar valuation, what do you think? >> well, you know, amazon seems to be coming up there as well, so we will see and they're providing a similar strategy with what they are doing on echos and devices there and with whole foods they are building presence in customers' lives and taking service and expanding presence and so we think both companies are doing that very well. cheryl: that's a very good point, i like that answer, stephen, thank you very much for being here this early morning. we appreciate it, please come back. >> very good, thank you for having me. lea: coming up the latest on the devastating wild fires in
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california as tens of thousands of people have evacuated homes and high winds this weekend will not help firefighters. also heavy rain and downpours can bring flooding up the east coast, janice dean that is the forecast. cheryl: ahead of job's report this morning, take a look at how markets are acting, typically we do see this ahead of job's report, we will see if that number changes the story right now dow down 20, s&p down 2, nasdaq down 1, you're watching. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com
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than 13,000 firefighters are battling these fires with the help of crews from as far away as florida. red flag warning has been issued for parts of foreign california high winds and heat make fighting the blaze more difficult, experts are warning that air quality is becoming major concern particularly for those with breathing issues. cheryl: devastating out there. well, it is friday and that means it's time for friday forecast, let's take a look at what's going on with fox senior meteorologist janice dean, i hope you have good news? >> well, some good and bad news, we have a little bit of rain in the forecast for east coast but the latter half of the weekend should be good, very humid right now, 76 in new york but feels a lot warmer with humidity, feels very tropical because we have stream of tropical moisture that's working its way from gulf of mexico and that will bring potential for more flooding concerns for florida up towards the northeast today and tomorrow and then we will have a bit of a
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break on sunday and there's your forecast rainfall and potential for flooding in the areas because we have seen so much rain not only the last few days but certainly the last few weeks on the flip side of this, we have very dry conditions, very warm conditions and fires, 89 large wild fires across the west, temperatures along the coast are going to be a little bit cooler for the northwest but we still have high fire danger for part of great basin in california into rocky mountains, here is your forecast today, not a lot of rain in the forecast for west coast, still rainy for east coast, central u.s. looks good, we will bump temperatures across portions of the midwest, just want to remind you ladies on the fox news channel, we have the summer concert series that we love to bring people out to here in new york city, a chance of showers and i hope to see you as well. lea: maybe we will pop out, maybe we will come out and check it out. janice: i would love that, get you guys on the other side.
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lea: that would be fun. cheryl: on the other side, thank you, janice. we have a lot more coming up, a show of force at the white house as intelligence leaders warn about russia meddling in the midterms and how they are working with facebook and other social media firms to stop it. >> we are sharing with them actionable intelligence in a way that wasn't hang before, we understand better what they need, they're sharing information back with us based on what they find. cheryl: amazon claiming another mall victim, we will tell you about store closings for a very popular fun place to hang out at the mall. leave lee especially during christmas season, let's take a look at u.s. stock market futures ahead of opening bell, dow futures lower by 19, s&p by 1 and nasdaq down fractionally, you're watching fbn:am on the friday morning, stay with us.
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>> it's fantastic, of course, the question is where do we go from here, on the one hand it's not a challenging valuation and another hand to grow 10% would be to create another s&p 50 company within apple and that's not easy. cheryl: breaking this morning a new market milestone as apple becomes first u.s. company to cross $1 trillion in market value. lea: rally in apple and tech stocks pushed nasdaq up nearly 100 points or 1.2%, the dow edged 7 points lower. cheryl: today all eyes on the july job's report, that's due out in just a few hours, taking a look at futures right now, pretty tepid market, the nasdaq up half a point, s&p lower by 1 and a half, dow is down by 15. lea: in europe after two days of losses european stocks opened higher helped by strong bank earnings, here is a look at ftse higher by almost a half percentage point, cac quarante higher by third of a percent,
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dax in germany higher by half percent all green. cheryl nearly in -- cheryl: in asia, shanghai fell on ongoing fears of trade war with the united states. lea: another retailers takes a hit brookstone filing for bankruptcy. fbn:am continues right now. cheryl: we are coming at 5:31 a.m. in new york, friday august 3rd, where did july go? good morning, everybody, i'm cheryl casone. lea: good morning i'm lea gabrielle in for lauren simonetti this morning. cheryl: we have a lot of breaking news to get to, the nation's top intelligence and national security officials have given warnings on russia's ongoing efforts to meddle in the midterms, blake berman at the white house with all those details. >> a show of force at the white
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house thursday from the intelligence communities top brass, the fbi director christopher wray, the director of national intelligence dan coats, the department of homeland security secretary kirstjen nielsen, national security adviser john bolton and the head of national security agency general paul all trying to reassure that the intelligence community is on watch for the 2018 midterm elections describing it as top priority for the president, pointing the finger directly at russia saying they are still trying to mess with our elections. >> in regards to russian involvement in the midterm elections, we continue to see a pervasive messaging campaign by russia to try to weaken and divide the united states. >> latest example believed to have been identified earlier this week, facebook announced that it shut down 32 accounts it said were started with the purpose of selling political discord, the fbi director would
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not point to russia in that case but did complement the social media networks in general for ensuring up defenses since 2016. >> we are sharing with them actionable intelligence in a way that wasn't happening before, we understand better what they need, they are sharing information back with us based on what they find, there are things that they can do on platforms voluntarily in terms of use and things like that that the government doesn't have a role in but in turn we learned things from them and we can use that to have investigations be more effective, do i think progress is being made, we have to keep getting better at it and keep staying on the balls of our feet but i think that's what we are seeing. >> wray came with a larger warning saying foreign interference stems beyond elections. >> this is not just an election cycle threat, our adversaries are trying to undermine country on persistent and regular basis whether it's election season or not. >> coats said russian efforts have not been as intense this time around as midterms in 2018 as they were 2016 presidential
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election but also added the caveat so far, back to you in new york. lea: john and robin byro, john former gop chairman and byron former obama campaign field director. >> good morning. >> good morning. lea: i want to start with you, robin, i want to talk about social media companies, facebook shut down 32 pages that were there to sell discord, you heard fbi director wray, but what does it say about the level of responsibility being put on the social media companies in the face of adversaries potentially countries like russia basically doing psychological operations campaigns against the country by doing social media companies and what are they supposed to do about it? >> lea, thank you for calling it a psychological operation as a special op's veteran i studied
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that, i'm well trained in that and that's exactly what we are seeing here, i'm glad that the social media companies are taking this seriously, and i want to be clear that this is confuse american public on both sides of the aisle, you saw what we saw with facebook, they are spreading misinformation about democrats and republicans, the president was actually correct to say that in some cases they trying to help the democrats, sometimes they are trying to help republicans but the main goal is just to spread misinformation and discord, that's exactly what psychological operations is and they're getting there, facebook and twitter both twitter was calling people, facebook pulling down 32 pages, we are getting there, it's a start. they can do more, though. lea: you mentioned the president, john, senator had something to say after the briefing yesterday, let's take a listen, listen to what he said and i want to get your response. >> you have to have the president on government
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approach, it was great to hear the agencies, i was encouraged by what they said today. i thought they have a good command of what we need to do, the question is do they have the support from the president. lea: just wednesday he called on attorney general sessions to shut down the russia probe, the mueller probe, so the question is do the agencies have the president's support, john? >> they do and i think the problem here is one of the things the white house does a bad job is differentiating between the president's role in this and the role of the election meddling against hillary clinton and democrats and different things in 2016. the white house needs to make it clear that they are objecting to the collusion allegations against the president and how there's been no evidence of the president's involvement but everybody who is serious incredible will have to acknowledge that there's been russian meddling and still seems
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ongoing. lea: you brought up the point of psychological operations in your background, i love that, i want to can you this, with russia really is the name of the game to divide and conquer, seems like russia is doing a very good job of that if that's the intent with all the political divisions, so my question to you is this, is there argument for democrats to take leadership in move get away from this russia probe and moving away from questioning the president's legitimacy? >> well, you know, that's a tricky one and great question. so, you know, at the heart of all of this we want to make sure that our democracy is protected, that the election itself was fair and that there was no collusion is really a bad word for this, that there weren't conspiring with the russian government to try and get bad information about hillary clinton. it's not illegal for them to collude but if they were trying to conspire that's where the problem is so we are just trying to make sure that they did this
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all on the up and up and i just want this investigation to run its course with the american people to know the truth and if the president is innocent as he proclaims, then he would be exonerated. i would love to see this investigation come to a swift conclusion and we can put this behind us, that's the ultimate goal. lea: good to hear that. john, i want to turn to you quickly, republicans an democrats to impose new sanctions against russia, can and will this stop russia from doing this? >> i don't think so. i mean, we've done sanctions on countries for years in effectively, i think the only thick that's going to have impact here is if our intelligence apparatus which is what it's doing now, all hands on deck, everybody involved and differentiate between the allegations against the president, there's just no evidence of it, and the allegations of election meddling which i think we really got to take seriously and republicans and democrats alike both do.
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lea: looks like serve working on that as a team now, john and robin, thank you for being with us this morning. >> thank you,. >> thank you. cheryl: well, blue apron feeling the heat after pretty rough earnings report. lea: tracee carrasco joins us more on that and other headlines making news, good morning. tracee. >> blue apron second biggest kit company reporting it had 117,000 customers at tend of june, 24% drop from last year and customer account down nearly 9% from the end of this march, not only is the meal kit business becoming more competitive but blue apron faced major logistical problems and rising costs, shares of blue apron fell more than 20% yesterday. lea: they tried automated facilities and had problems on getting thing out. another america's malls are in
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trouble, what's the latest on brookstone. >> brook-stone filed for chapter 11 bankruptcy and plans to close all remaining 100 mall stores as more people shop online for high-tech gadgets that it sells, brookstone has hired liquidators to close mall locations, hopes to keep 35 remaining airport stores open, i do love shopping there at the bookstore. cheryl: you need it, you need massage shares. lea: that's where i need to go during vacation time. now i have to wander around the airport. cheryl: we hit the mall in scottsdale, yeard, i'm not ashame to say that. i love bikes, i think they are amazing, now you have big news on maybe ipo. >> yes, that is right.
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wall street journal reports that they raised 150 million-dollar round of financing led by venture capital firm tcv which value it is company at a little more than $4 billion, the company expects financing be the last of ipo which could happen in 2019. we would be watching that one. lea: thank you, tracee. cheryl: peleton like having cycle class in the home. lea: i heard from our friend. she loves her. cheryl: we've got a lot more coming up, the fbi arrested ge engineer ties with chinese company acting him of stealing proprietary information. in a few hours we will get the july's report and we will see big wage gains for american workers and what will that mean for the economy? lea: taking a look at u.s. stock market futures, dow futures lower by 4 and s&p just
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fractionally and nasdaq to green side, higher by 4, you're watching fbn:am. stay with us. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.
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few minutes ago flip today upside, look at higher by 4. well, engineer for ge has been arrested accused by the fbi of stealing files related to the company's power turbine technology, he reportedly has ties to chinese companies and took steps to conceal the files on personal computer, meantime the search for molly, college student that went missing on run two weeks the search continues, the family is hoping that the latest clue red shirt similar might help find molly. crews search nearby farm, the farmer has not been charged with a crime and said that he has nothing to hide. fbi is issuing an amber alert who may have been abducted, taken at reagan international airport at washington, d.c., taken by the woman in this surveillance photo, the 12-year-old from china was
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traveling with a group touring american schools, police say she's in extreme danger, they think left the airport in white car with the woman and unknown man and that's what's happening now. cheryl: that's a frightening story, i hope they find that little girl. well, july job's report do out in just a few hours expected to be another positive one, 190,000 jobs gained is the forecast but what really matters is whether companies are paying workers more because of the tight labor market, the outcome obviously would be good news for workers but could trigger higher inflation, could trigger higher interest rates, lots to go through mitch roschelle with price water, how are you? >> happy job's friday. cheryl: big day, we love this with maria, the wage story really is the key story today, companies keep saying they're having trouble finding folks, they've got to start raising wages. >> well, you know what's interesting, cheryl, the
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employment cost index came out yesterday and that was up for the second quarter but you have to look at when you think about employers is not just the wage costs, the all in cost of employment which includes benefits because there's a finite wallet that employer has in terms of compensation and benefits who are a big chunk of that, they are having to managed both rising healthcare costs and the tight labor market which is driving up wages. cheryl: i'm glad that you brought up the cost index, it rose in second quarter 2.8 years, that was the best we have seen in ten years, it was interesting because it was really the middle class worker that was really seeing the boost in wages, not necessarily the lower class or not necessarily the higher class, right in the center, is that the sweet spot of the economy? >> that is. typical worker who works for small business and that's where we are seeing most of the job growth, again, but we are not seeing the wage growth and we really hopeful. what we saw last month in the june report was a big uptick in the workforce with more than
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600,000 people coming back into the workforce, what that's doing is offset for the tight labor market, maybe some of the standards are shifting in terms of the types of employees that companies will go after but that's a bit of a headwind if you will in terms of pushing up wages. cheryl: worry about inflation is real, i will give you example, brunswick, you know the boat maker very well, they rose prices by 6% this year, i think that's a story we will see play out more and more throughout the rest of the year, the inflation story, what do you say? >> yeah, i think you will see also because of tariffs, we saw a lot of companies when they gave earnings report for the second quarter and they were giving guidance for the rest of the year, they began to comment on how the cost and supply chain are going up and if costs go up they are not going to let erode margins, pass to customers, we could see consumer prices go up which could put pressure to company's abilities to increase wages.
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cheryl: i thought to myself, that pretax money, that is good, i think, and i'm hoping we will see more good news today for the american worker. mitch roschelle, good to have you here. >> have a good weekend, cheryl. cheryl: thank you, we will have complete coverage and analysis of job's report, in mornings with maria, she has amazing panel booked today, of course, that's her job's america's special, fun to watch by the way. lea: coming up in sports, first game of the football preseason is over, we will tell you who won the hall of fame game and tiger woods impressive first round of bridgestone invitational. cheryl: job's friday we are seeing a tepid market now, the dow is up by 2, we were down earlier, s&p is flat, nasdaq is up by 5, job's report could change out of it, though, you're watching fbn:am.
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lea: welcome back, ohio state university meyer remains on paid administrative lea. cheryl: team is probing whether he knew of domestic violence of staff, she told meyer's wife about tin kiddents -- incidents. lea: baltimore ravens got the best of chicago bears in first preseason of the year, rooky quarterback lamar jackson threw
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a touchdown in anticipated debut, ravens win by 17 to 16. cheryl: i so miss football, i can't wait, let's move over to boston red sox, they took care of yankees. launched 3 home runs over monster, red sox win, that was one of the few high-scoring games, texas ranger beat up on oriols17-8 and the dodgers scored 21 runs against the milwaukee brewers. lea: best golfers, tiger woods earned nearly $11 million at the tournament throughout his career, he finished the stay shooting at 66, 4 under. meanwhile tiger is just agree today a much anticipated faceoff with phil nicoleson and reported 10 million-dollar payout for that but everyone is talking
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about this. [laughter] lea: yeah, a commercial with phil dancing way around golf balls to show his flexibility, he said he would do private lesson ifs for right price. cheryl: he's got good moves. good phil. lea: is that the worm? he just did the worm. cheryl: she went to tattoo parliament made replica of signature. that would be a tom brady super fan. okay. lea: yeah. that's a little much for me. i think we have to go back to the phil michaelson done, we don't have time, what's next for apple now that market cap has hit $1 trillion.
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cheryl: we will find out what trade nester london think when we return.
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in every family, small conversations can make a big inpact. i grew up on tour with my parents. kind of different,but we bonded over music and we talked. honest conversatiions like when my dad shared his experiences as an alcoholic. your honesty gave me a sense of integrity that i wanted in my own life. and i wanted you to know from someone who's been in recovery more than 30 years now,that hard work is what creates success, not alcohol or other drugs, in whatever you do. talk.they hear you. cheryl: what challenges does apple face now that market cap hit a trillion? all right, so what are traders saying about this, apple's valuation? >> well, i think everybody knows it has to carry on innovating to
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move forward and what's really interesting over the last few days is apple is no longer the second largest or world's second largest provider of hand settings and now the third. this isn't a brand that you are familiar with trust because of security concerns but getting bigger in europe, it's getting bigger in africa and seen perhaps not having apple but much-level price tag. lea: iran launching the so-called swarm drills that could shut down vital route for oil, how much concern are you seeing there on the oil market? >> well, there's a little bit of pick up, you have to remember that oil dropped in july. in july there was increase of production and also, concerns about trade wars which triggered fears about slow down in global
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growth. >> thank you so much. lea: thanks for joining us here on fbn:am this friday morning. cheryl: we now send it to mornings with maria. maria: good morning to you, happy friday, happy friday, everybody, thanks for joining us, i'm maria bartiromo, friday august 3rd, stories right now just before 6:00 a.m. on the east a.m. on the coast. economists are expecting 190,000 jobs to have been added last month one employment ticking down to 3.9%. president trump highlighting strength of the economy and job growth at rally last night. >> our economy is soaring, our jobs are booming, factories are pouring back into the country, they have coming from all over the world, we are defending our workers, we are protecting our constitution. maria: market this is morning are mixed ahead of report really
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flat, dow industrials right around where it closed yesterday, s&p 50 exactly unchanged and the nasdaq this morning up 6 points, we are waiting on the job's report to set the tone. this after mixed performance yesterday, the dow and s&p 50 little change yesterday, nasdaq the bigger of the session, up 1 and a quarter, 90 points higher at the close yesterday n europe this morning check out the action in terms of stocks higher across the board, ftse up as dax index in germany. the cac quarante in paris up 15 points, quarter of a percent higher there. in asia overnight, take a look at shanghai composite, worst performer once again, down 1% and the others mixed on the session, cbs ignored the elephant in the room last night, the company barring analysts from asking ceo les moonves and the analysts complied despite serious implication of the company's future. not a question on the investigation. the moves sparking outrage, we have the latest from the call and es.

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