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tv   FBN AM  FOX Business  August 7, 2019 5:00am-6:00am EDT

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tomorrow victoria toensing, joe digenova and gordon chang among our guests. we hope you join us as lauren: it is 5:00 a.m. here are your top stories at this hour. from trade war to currency war, will president trump hit back at beijing. cheryl: hours from now, the president will visit with victims and first responders from el paso, texas and dayton, ohio h. will his message of unity be enough? lauren: disney takes a third quarter hit. will new streaming service be a sweet spot for the mouse house. cheryl: losing a job is never easy. a surprising study reveals who you lose it to may soften the blow. it's wednesday, august 7th. "fbn: a.m." starts right now.
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♪ ♪ i want to dance, you and me alone. ♪ i want to capture the feeling. ♪ oh, yeah. cheryl: welcome to "fbn: a.m.." good morning. i'm cheryl casone. lauren: good morning, i'm lauren simonetti. let's take a look at how your money is moving this morning. dow futures gaining 69 points, s&p up 8, nasdaq adding 40. cheryl: we're seeing stabilization in asian markets overnight. we've seen a moc a move on the . the nikkei and shanghai composite slightly down, the hang seng actually gaining. lauren: we have some stability in the european markets as well. the ftse is up 50 points, the cac up 55, the dax in germany up
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1.2%, despite a new report showing industrial production in the powerhouse of europe contracting. cheryl: we're following the 10 year treasury right now, especially on the comments on fed president bullard yesterday, there is weakness on the yield so a little bit more of a bet on stocks today possibly happening versus the bet on bonds. lauren: still the flight to safety is going on. we see it in the price of gold, up four days now, gaining about 1%, 1498 this morning. i want to show you the price of oil, down fractionally, about a dime, $53.53 a barrel. cheryl: the ball is in president trump's court a after china hit back in the trade war by weakening its currency, the yuan was actually lower again today after china's central bank set the currency slightly weaker than expected. this is their new move, folks, and this move helped calm nervous markets yesterday after monday's massive selloff. lauren: as investors continue to monitor developments in the u.s.-china trade war, the trump
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administration is taking action after china allowed the yuan to depreciate. let's get more on the story from he'edward lawrence. >> reporter: labeling china as a currency manipulator triggered a process that a allowed the international monetary fund to mediate negotiations. the treasury department started to work on a report with suggestions on how china can get themselves off of that currency manipulation list. i can show you that there are certain things that are on that list right now that the treasury department would like to see china do. for one, they would like to see china lower the trade imbalance with the united states, be more patient in how the exchange rate is moved and more transparent in how that exchange rate is moved as well as transparency in china's reserve management operations. china may not be responsive to this. larry kudlow says supply chains are moving out of china as we speak. he says devaluing currency and
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pushing cash into the system is not the way to solve the problem. it's to come to the table and create a win-win trade negotiation for the u.s. and china. >> we're planning for the chinese to come here next month and if there's a good deal or good progress, he may reconsider osome things. he also said if there is no good deal, no progress, he may reconsider things on the other side. >> reporter: the president said the 10% tariff will be added on september 1st to about everything else china imports into the united states. the president says if the talks in september go poorly, that could be bumped up to 25%. if they go well, he said maybe the tariff goes away all together. back to you. cheryl: thank you. we are watching shares of walt disney this morning. the stock is lower in the he premarket after the company's latest earnings missed the street expectations following the purchase of entertainment assets from 21st century fox. the stock is down he three and a
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quarter percent. bob iger blamed the disappointing results on the film studio. it was dark phoenix, an x-men sequel that grossed just $250 million worldwide. that was a major drag on disney's box office. disney announced it is getting rid of most of the fox films under development which were acquired in the asset purchase. the company said subscribers will pay $12.99 a month for disney plus, espn plus and ad supported hulu. it will be available on novembe. lauren: it's the same price as the typical netflix plan. they're going head to head. earnings season continues, lyft reports after the bell today. expected to post a loss, revenue, $809 million, investors are hoping for some better news after the stock's dismal performance since the march ipo.
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the rival of lyft, uber, they report tomorrow after the close. analysts expecting that company to report a loss as well, both lyft and uber are not saying when they plan to turn a profit and in this sort of equity environment, that's important. cheryl: president trump is set to visit the grief-stricken communities of el paso, texas and dayton, ohio today. as democrats are demanding congress head back to the hill to address the issue of gun control. lauren: griff jenkins joins us live from washington with he del tails of the president's trill -- details of the president's trip and why some want president trump to stay away today. good morning, griff. >> reporter: good morning. they do. white house aids are defending the president's trip to texas and ohio. critics at the local and national level are painting the visit in dayton, the mayor worries his past comments are devidesuv. >> i can -- divisive. >> i can only hope he's coming
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here because he wants to add value to the community and recognizes that that's what our community needs. >> reporter: in el paso, a congresswoman says he isn't welcome. >> this community is full of hope and resilience and beauty. but the other thing that i heard, chris, totally unsolicited from victims still in the hospital as they grabbed my arm and tell me, tell him not to come here. >> reporter: el paso's gop chairman disagrees. >> you look at what o'rourke is doing, look at what escobar is doing, they're making this a political issue, trying to enhance their opportunities by making this a political issue. that is absolutely wrong and disappointing. >> reporter: the president tweeted this just before midnight. beto o'rourke who is embarrassed by my visit to the great state
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of texas where i trounced him, should respect the victims of law enforcement and be quiet. an hour later, he shot back saying 22 people in my hometown are dead after an act of terror inspired by your racism. el paso will not be quiet and neither will i. this comes amid renewed calls for gun control. escobar is urging speaker pelosi and majority leader mitch mcconnell to end the august recess and return to washington to tackle gun legislation. lauren: thank you very much. iran is issuing a new stern warning. cheryl: we get tracee carrasco and all the details right now. tracee: in a speech broadcast live on state television, iran's president said peace with iran is the mother of peace and war with iran is the mother of all war. he also warned that shipping in the strait of hormuz is not safe, saying peace for peace, oil for oil.
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this comes as tensions between iran and the u.s. continue to rise following president trump's withdrawal from the 2015 nuclear agreement and reimposition of sanctions. rahani accuses the u.s. of engaging in economic terrorism but says he is willing to talk with the u.s. if all sanctions are lifted. north korea also issuing a warning by way of missiles. yesterday, north korea launched another missile, its fourth in less than two weeks. north korean leader kim jong un says the continued test launches are a warning to the united states and south korea over joint military drills that began this week. more store closings, walgreens is closing 200 stores. the announcement comes after the company said they would be closing 200 boots locations in the u.k. the company says the closures are part of a move to increase operation efficiencies. and about six months after emerging from bang run p sigh, it was a-- bankruptcy, it was
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announced 21 sears and five kmart stores would be closing in october. they will accelerate the expansion of the smaller store formats, including opening add indicts naiaingadditional home . and elon musk's space company launched its falcon 9 rocket into orbit yesterday. video shows a drone ship capturing the rocket using part of the protective cover which falls to earth after the rocket leaves the atmosphere. and that's what's happening now. lauren: tracee, thank you. let's take a look at futures this morning. we have a decent day, a little fragileity going on in global markets, dow up 46, nasdaq gaining 33 and-a-half. still ahead, is there political bias at google? >> they censor conservative content constantly. they are pulling politician's
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ads, looking for way to manipulate the electoral process. lauren: we are told how google is trying to rig the 2020 election against president trump. and flying with big brother, one airline revealing how they're keeping an eye on passengers from the gate to the moment they sit in their seats. keep it here on "fbn: a.m.." ♪ oh, big old jet airliner. ♪ don't carry me too far away. ♪ oh, big old jet airliner. to nowhere. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature,at the summer of audi sales event. get exceptional offers now.
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lauren: google's anti-conservative bias under new scrutiny as a fired google engineer says the company is actively seeking the rig the 2020 election against president trump. this former google engineer reportedly has highly controversial views that he did make public at work but his allegations are nonetheless disturbing. here he is on bulls and bears. >> google has a lot of mechanisms for manipulating public opinion. youtube itself deletes about 8 million videos and 3 million channels every three months. they censor conservative content constantly. they are pulling politicians' ads. people at google talked about remotely turning off donald trump's phone. they are looking for ways to manipulate the electoral proce
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process. lauren: president trump tweeted in part, google was in the oval office trying to explain how much he liked me remarks a great job the administration is doing. it sounded good until i saw a google engineer say terrible things about what they did in 2016 and they want to make sure that trump loses in 2020. we are watching google very closely. cheryl: president trump dismissed fears of a long-lasting trade war with china as the battle spreads from tariffs to currencies. the president tweeted massive amounts of money from china and other parts of the world is pouring into the u.s. for reasons of safety investment and interest rates. we are in a very strong position. our street trade policy council joins us now. clark, good morning. >> good morning. cheryl: looks like we're almost going towards a cold war with the chinese at this point between the trade issues, the currency issues.
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larry kudlow said september talks are still on track. he said he believes that americans are not bearing the brunt, the chinese are bearing the brunt of tariffs. an analysis out there tells a very different story. where is the truth in all this? >> i think all the anal si anals correct. a lot of the academic studies and anal si analysis like you md shows americans are bearing the brunt of the tariffs. i worry this will spread into the currency issue. cheryl: this is an issue for xi-jinping and one of the reasons why there is a more arrested line defense, offense, whatever, coming from china. he's got hong kong. he can't appear weak to his own state leaders, to his own communist party. xi-jinping and the president did have a strong relationship. it seems the relationship is almost on ice. >> i think that's right. i think that obviously adding the hong kong issue, it adds a wrinkle to a really complicated situation between the united
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states and china. the two would -- the world's largest and most powerful economies. i think this is a longer term proposition and both sides are starting to dig in. cheryl: that's politically sensitive for president trump as we go into 2020. some of his most loyal fans and his base are u.s. farmers. u.s. farmers with them stopping buying agricultural products, especially soybeans -- soybeans sales to china are at a 16-year low right now. the farmers are saying -- one farmer is saying basically we can't take much more and saying that basically the strategy of constant escalation and an ago antagonism has made things worse. >> i think they're really hurting. soybean prices are dropping dramatically. china is looking elsewhere, brazil for instance is becoming
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a major supplier of soybeans that american soybean farmers used to fill that order. now it's shifting around the globe. certainly they're upset and they have every right to be. cheryl: september 1st, think about toys, shoes, drones, all of the that is going to change and those prices are likely going up. lauren: you're not going to believe this one. privacy concerns for fliers, hong kong's cafe pacific airline revealed they are recording passenger activity with in-flight video systems for what they call security purposes. they are capturing images of passengers while on the plane as well as logging the usage of the entertainment system. they say the cameras are not built into the in-flight entertainment systems but they're watching what you do for security for passengers and staff. cheryl: the streaming wars are on but will disney's new streaming service be a game changer or will it turn
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consumers away? and snap is trying to change the game of your face. think bunny ears, rainbows coming out of strange places, crazy eyes. you're watching "fbn: a.m." ♪ oh, oh, oh, i get carried away. ♪ carried away from you. ♪
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plus get $250 back when you buy an eligible phone. click, call or visit a store today. lauren: a big earnings miss from disney just as we learn more about the company's big streaming plans. lou basineste is a chief analyst. he joins us now. here's the thing with the streaming plan. this is where disney is investing their money.
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bob iger said scale is key. we know disney plus coming mid-november. it will cost $6.99. the bundle gets you espn plus and hulu as well, $12.99. are customers going to spend that money on the bundle? it's the same price as the basic netflix plan. >> to be determined, right? i give them credit. three months in advance, rolling it out and letting us know when the date is. the happiest place on earth is not the happiest place for investors this morning. the hope was the streaming wars would be subsidized by the box office and park revenue and he that's not the case. bob iger said we're going to scale quickly, there will be losses involved with this. if disney doesn't scale quickly, that's the big concern. if you don't get a lot of subscribers for the launch, you have six weeks in the fourth quarter where they try to amass as many subscriber as possible, if that doesn't happen, i'd look out below for disney. it could be more downside than
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upside right now. lauren: what do you make of rebooting clafntiobooting classe streaming service, like home alone, for instance? >> i think it's smart. content is king with streaming. disney is not reinventing the wheel here. they know what works. go back, reboot the favorites. that gets more viewers. we've seen this with netflix. that tends to get more viewers than the original content. i think it's a smart bet right now. lauren: unfortunately, investors don't agree at the moment. in the premarket, stock is down three and-a-half percent. let's move on and talk about the ride hailing companies. lyft reports today. uber tomorrow. what's the path of profitability for lyft, first? >> is there one? [ laughter ] >> i'm being honest. i don't think that's the problem here. these two stocks are such broken ipos. they've only traded above their ipo price for two days, period, each one, and i think that's the main concern with investors. they have decelerating revenue growth and losses that are piling up.
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last quarter combined they lost over $2 billion. this quarter doesn't look much better because uber's going to have a lot of one-time stock compensation expense. they're even trying to push to the future of, hey, ride hailing is not going to make us profitable. it's automatic self driving cars and uber eats. that's a bad sign. lauren: would you put them both in the same boat or do you like one over the other. >> no, i put them both in the same car, they're both crash test dummies about to hit the wall at 100 miles an hour. cheryl: i don't want to hear crash and uber lyft in the same sentence. well, samsung is set to unveil its galaxy note 10 today. the device expected to come with the infinity zero display which resembles the display on the galaxy note 10. it will have a finger print sensor in the display and a l camera with a triple lens. and we could learn more about a
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new device next month at a technology convention that will be held in berlin. lauren: snap is betting a billion dollars that you love your bunny ears. they will raise the money in short-term debt in order to improve the company including augmented reality. snap is considering using some of the money for acquisitions. let's take a look at snap's stock. look at that chart. it has gained more than 180% this year. cheryl: $16 and change, though. lauren: it's a nice -- cheryl: it's nice to see one going up. we've got green arrows this morning. that's nice to see. we've had a couple volatile sessions after monday's big selloff. dow is up 62, s&p up 7 and three quarters, nasdaq up 37. bernie sanders says he's got a plan to beat bernie sanders. lauren: what? cheryl: it's true. wait until you hear what's going
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on with the senator many and a man wants to make a statement about recycling but things went terribly wrong for him. keep it here on "fbn: a.m.." ♪ i know that i can't take no more. ♪ it ain't no lie. ♪ i want to see you out that door. ♪ baby bye, bye, bye. ♪ i don't want to be a fool for you. ♪ we create financing options for your customers. to help them get the things they love instantly. our data provides insights into what your shoppers have already bought. so you can offer them what they might consider buying next. our financial and tech solutions are changing what's possible in all sorts of ways. so, how can we change what's possible for you? dear tech, let's talk. we have a pretty good relationship. you've done a lot of good for the world.
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cheryl: presidential candidates make unusual promises on the campaign and now bernie sanders is choosing an unusual owe upon meanopponentto beat. himself. he was asked about minimum wage and about a recent bill that would raise it to $15 an hour by 2022. >> when you become president are you going to make it like before 2022 that we reach -- >> yeah. >> okay, great. cheryl: he is promising if he becomes president he will raise minimum wage before 2022. let's go back.
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some are pointing out that the bill sanders introduced in the senate wouldn't guarantee the minimum wage would hit that level until 2024, maybe 2025. bernie sanders is now saying he's going to raise minimum wage faster than, well, bernie sanders. lauren: interesting. texas congressman joaquins castro is doubling down after tweeting the names of dozens of president trump campaign donors many he is the brother of julian castro and he listed 44 people that contributed the maximum amount to president trump. this move immediately sparking backlash from gop members like steve scalise, who tweeted this, people should not be personally targeted for their political views, period. castro is accused of inviting harassment of private citizens and encouraging violence. castro is defending his actions, saying the president's campaign has, quote, stoked fear of brown skinned immigrants and he points
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out that he did not reveal any private or personal information. cheryl: well, speaking of donors, senator elizabeth warren is now the top crossover candidate among them in the 2020 race. more than 40% of democratic donors who gave to more than one candidate gave money to warren. that's according to a new report in the wall street journal. and she's also surging in the polls. a recent survey shows that while former vice president joe biden still enjoying a healthy lead, warren tacked on 5 points. kamala harris slipped to 7%. an der heckstrom is here. what do you make of the crossover story with elizabeth warren. it's early in the primaries here. people are spreading their money, i get that. but elizabeth warren, what's going on with that? >> i would question just how healthy joe biden's lead actually is. the danger for him, the
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suspicion among a lot of detractors has been that everyone who likes joe biden already supports him. and so there's tons of people who don't like him but they're split between people like cory booker and bernie sanders and elizabeth warren and kamala harris. but as they drop out of the race, you could see them consolidating around one candidate, like elizabeth warren, and i think this poll from the wall street journal really shows that that is a real fear, that that could absolutely happen. cheryl: what you're saying shows. i want to bring this up. this is from the boston globe, 21.4% said they would vote for joe biden, 20.8% undecided. >> exactly. cheryl: that's wild to me. >> when there's just as many undecided voters as there are people who support you, there's no way to say you have a lead that could last another 15 months until 2020. it's not realistic. cheryl: we're looking at the other candidates that are, well, frankly it's desperate times at
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this point. let's talk about the democrat whose are getting zero percent in the polls. this is where we think the win knowing down for the -- winnowing down for the he debatethe debateswill happen. what kind of stage do you think we're looking at for september. >> i'm pulling for less than 10 people that would be a good thing for the democratic party. these party establishments used to have sort of structure that's could prevent having these masss fields of so many -- massive fields of so many people it's never not been desperate times for these candidates. none of these people had a chance and they shouldn't have been allowed into the race in the first place. it's emble emblematic of the fae of the structure of the democratic party that they would allow so many candidates. i think you'll see them dying away like flies in the coming
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weeks. cheryl: i can't wait to see the polling data that comes out after the september date. that will give us an idea of who is strong here. you want to keep it here on fox business. democratic presidential candidate tellsy gabbard is joining maria bartiromo for a one on one interview at 8:30 a.m. eastern time. lauren: the white house and rnc suing the state of california, accusing it of denying millions of americans their right to vote for president trump. governor gavin newsom signing a law requireing that the president release his tax returns or get this he can't appear on the 2020 state ballot. cheryl: todd piro joins us with more on this story. >> reporter: yesterday i told you about the federal suit saying the california law was unconstitutional. that suit got big time support. the law requires five years of federal tax returns in order to appear on the primary ballot.
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california's governor insists it's not targeted at the president. >> they have to disclose their tax returns, just issues of self-dealing, conflicts of interest, requiring that regardless of political party. you choose to do the right thing. you can choose not to do the right thing. >> reporter: now, president trump and his campaign along with the republican national committee are hitting back. the complaint filed by trump and his campaign claiming that, quote, newsom and the democrats in the california legislature who voted for it made clear they were retaliating against president trump for his political associations and speech. the rnc suit alleging that the law is a, quote, naked political attack against the sitting president of the united states and former deputy assistant attorney general john yu agrees. >> it's flatly and obviously unconstitutional, i think everyone in california knows it. the constitution allows states to manage access to the ballot. the supreme court said in a case
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about term limits that states can't do it in a way that changes the qualifications for federal office. >> reporter: rnc chair ronna mcdaniel adds that it doesn't bode well for democrats heading into 2020 if they need to deny millions the right to vote for president trump. so we will see. cheryl: todd, thank you very much. lauren: greyhound bus trip took an unexpected turn after the driver quit, mid-trip, and he stranded passengers for hours. all of this happened during the three hour ride from dallas to phoenix. passengers started calling greyhound for answers after a 20 minute stop in abeline turned into two hours. >> the bus drivers gone. i said what do you mean? he said he hasn't come back from walmart. this is two hours now. lauren: it took nine hours for the company to find a replacement driver. greyhound bought everyone lunch
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while they waited. cheryl: a man in spain wanted to mock the recycling efforts. he did what anybody reasonably would do. he threw a refrigerator down a hill. video of this incident made it onto social media. police identified the man and they ordered him to bring it back up the hill. he also reportedly has been ordered to pay more than $50,000 in fines for his little on-video stunt. lauren: not an easy task. let's take a look at how your money is doing this morning. we have volatility easing a bit, asia down, europe up. up here in the u.s. as well. dow tacking on a quarter percent gain, nasdaq gaining half of 1% in the premarket. well, a teacher on a crusade to bring socialism to the classroom. but will his ideas make the grade? and it's the 21st century, cheryl, so people and robots could be after your job. cheryl: they totally are. lauren: if you have to pick, who would you rather lose your job to, a person or a robot? keep it here, "fbn: a.m.."
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♪ hey, teacher, leave those kids a alone. ♪ all in all -- cheryl: listen to this one. a new york professor doesn't want kids to make the grade or even really get a grade. in an op ed called grades are capitalism in action, let's get them out of our schools, the
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professor makes the case that grades promote capitalism and they have little educational payoff and disrespect students as thinking people. he blames grades for putting people in boring, dangerous, and or mind-numbing jobs because everybody should get a ribbon. lauren: does he look like bernie sanders to you? cheryl: a little bit. lauren: weeks before the federal reserve's next policy meeting, peter navarro is calling for more rate cuts. >> the federal reserve before the end of the year has to lower interest rates by at least another 75 basis points or 100 basis points to bring interest rates here in america in line with the rest of the world. we have just too big a spread between our rates and that costs us jobs. lauren: let's bring in doug flynn, certified financial planner and co-founder of flynn zeto capital management. that was navarro right there. bullard says hold your horses and yet you have the bank of new
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zealand surprising markets today and that central bank cutting by 50 basis points. where are we going with all of this? >> we don't really need to lower interest rates because the economy's doing better than most people p think it is. lauren: but everybody else it. >> exactly. there's a big spread between the rates we're offering for our treasury bonds versus worldwide treasury bonds. so there's room there to lower them. but we don't need to. and i think that gives us a little bit of fuel to -- if things soften a little bit to raise them. but doing this is just giving the lower interest rates that president trump wants so he has the wind at his back to keep the economy and stock market going. lauren: he's dealing with the trade war with china, that just seemed to be going off the rails. there's a lot of talk about heading into a recession. moody's analytics says if the 10% tariff goes into effect in september, the probability of a recession in 12 months is 50%. you have other folks like know a
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they're talking about a financial crisis if we get a selloff like monday for a second time. are heading for a recession? >> we are seeing signs that are saying you could possibly have a recession at one point. a 5 drop in the market -- a 5% drop in the market, we typically have three or four of those and we just had our second one. people have more money in their pocket and they did before. they're spending it and that's boosting the economy. the economy is 70% from the consumer. that's where a lot of the money is going. lower interest rates helps them, keeps mortgage rates low and keeps money in the pocket. lauren: what happens if things with beijing get out of hand and tariffs escalate which is a tax on the consumer and the fed can't do much more because they've already cut rates so low to spark things again. >> china, trade, imports from china are down 12%. but they're up 33% from vietnam and 20% from taiwan and so it's
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going elsewhere. china has to be really careful. it's not going to be too long before their manufacturing goes somewhere else. we're going to buy our stuff from somebody. it doesn't have to be them. the trade war might be fits and starts. in the long run, we're going to get a deal. lauren: it seems like the u.s. and china are decoupling and they will no longer with dependent on each other. >> we'll have some deals. we can live with that. lauren: thank you very much. good to see you. cheryl: we've got a lot more coming up, folks. twitter says it was sorry for selling your data without your permission. but it looks like that apology was empty. we're going to explain. and grab your slap brace altogether and get ready to the -- bracelet and get ready to the macmac a carena. the '90s are back again and we
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cheryl: twitter he revealed it may have shared certain data with partners without permission. users may have had data such as their country and whether or not they engaged with ads sent to twitter's partners. the company used data for personalized ads without getting permission from users. twitter says it's working to make sure neither incident happens again. lauren: we still don't know if the united kingdom and the european union will reach a brexit deal. dominoes, the pizza company, isn't taking any chances. they're stockpiling pizza ingredients in the event of a hard brexit. dominoes says it's taking the
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step because it imports a third of the supplies from outside of great britain. boris johnson recently doubled down on his threat to leave the eu on october 31st if no agreement is reached to protect trade. cheryl: well, let's get you caught up on global market action this morning. first, the u.s. stock market futures, we are looking at now -- we've seen strength, actually, in the futures market. really in just the last 20 minutes or so. the dow is up 106, s&p is up 12 and-a-half, nasdaq up 51 and-a-half. we had a strong day yesterday. now to asia, a little bit of a calming down of markets over there. the hang seng just slightly gaping. other markets slightly red. in europe, taking a lock at stocks. we are all green across the board after a rough day yesterday. michael hughson is here. we're seeing china's currency weaken again this morning. if we're in this economic cold war with china, how does europe react to all of that? >> well, i think china set the
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fix below 7 and i think that has brought a welcome respite to european markets. we're looking to post our first positive day in about five days. so i think the rally that we're seeing this morning needs to be set in that context. what we're also seeing is investors are a little bit reticent to come out of bonds. they're still in bonds, bond yields are continuing to push to record lows and gold prices are at six-year highs. so i think we're seeing a little bit of a calm down but europe is very, very concerned about an escalation in the trade war. cheryl: i think we all are. we're seeing global banks jumping to cut rates. the federal reserve of course, but banks around the world. maybe talk of more stimulus. isn't that dangerous on a global scale? >> well, i think it's very difficult to really drive rates much lower and for them to actually make a difference. yesterday we had james bullard of the u.s. federal reserve saying he didn't see the need for a september rate cut.
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yet markets are pricing in three or four by the end of next year. and i think this race to the bottom is very dangerous. the ecb is likely to cut rates in september. german 10 year yields are at minus 1.8%. how much lower can we go? cheryl: you're right. this isn't a race to the bottom but it's looking like one and it shouldn't be. michael, thank you very much. >> thank you. lauren: peter strzok is suing the department of justice over his firing. cheryl: big story here. tracee carrasco's got that one. good morning. tracee: the former fbi agent was fired last year after sending dozens of anti-trump messages. he has filed a lawsuit accusing the doj of violating his constitutional rights after dismissing him for what he calls private political speech. strzok alleges he was actually fired in response to a public campaign by president trump and other republicans. fx announcing the next season of american crime story will focus on president bill clinton's sex scandal. monica lewinsky will produce the
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show, titled impeachment, american crime and will fee sarah paulson. she'll play linda tripp. everything old is new again. the a '90s hit beverly hills 90210 is back. the new version bh90210 starts tonight. we're excited here. it is on fox, owned by our parent company, fox corp. it brings back the original stars. they play heightened versions of themselves, inspired by their relives and relationships with each other. the he show originally premiered back in october of 1990 and ran for 10 seasons. and now to another '90s hit, friends is getting the lego treatment. lego tweeted tweet an item feay the sitcom. this comes as the show celebrates its 25th anniversary.
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cheryl: i'm more excited about 90210. i'm over friends. i'm excited about tonight. they gave us a writeup about what's the show's about. i'm so excited. lauren: that's what i'll be doing tonight. coming up, there's a new study showing why some people robots coming after your jobs isn't such a bad thing. okay. and cheryl, did you hear about those people gossiping the other day? cheryl: no. lauren: well, you're not going to believe who dishes the most. keep it here on "fbn: a.m." ♪ let's give them something to talk about. ♪ something to talk about. ♪ let's give them something to talk about. ♪ something to talk about. ♪ let's give them something to talk about. ♪ how about love
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lauren: my mother's favorite song. would you be okay with a robot taking your job? cheryl: is that a vein thing or is it different? >> this is the deal. this one caught me by surprise, obviously the automatic role, robots taking over, transformers, if they lose their job they would have a robot replace them than a human being essentially saying, listen, if i can't have a job, forget you, you can't have it either, the mind set behind it is that -- they are self worth.
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>> if a robot takes your job you don't have one. >> a robot specialized, makes you feel better about yourself, another human can do what -- i don't know. on behalf of all men out there, i apologize, it is not the women that are the drama queens, it is in fact, the men who are dramatic as women will spend 30 minutes for week gossipping outside of work, but, us, we the men spend over an hour gossipping, who are the dramatic ones. cheryl: not you. >> not me. cheryl: thanks for the story. >> there you go. lauren:ly talk about you later, mornings with maria starts now. good morning, maria. maria: happy wednesday, good morning, everyone, i'm maria bartiromo, it has wednesday august 7th, your top stories right now just before 6:00 a.m. on the east coast. china trade turmoil once again, top story, china central bank
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setting yuan rate above 7 level and by all means trade talk as battle shifts bit from tariffs to currency. markets continuing firmer trade adding to gains, take a look. higher opening, better than 100 points. earnings to take a look at. disney recording record revenue. profit did take a hit and we have more on that, plus details on disney streaming service as well, donald trump heading to dayton and el paso, the president will meet with victims' families and controversy as the president clachs with democrats this morning, mornings with maria begins right now.
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♪ ♪ maria: big show this morning, joining the conversation fox business network dagen mcdowell, former u.s. army special operations and strategic adviser at white fox defense, cfra investment strategist lindsey bell, big show, lots to talk about. four-time major tournament winner, he's the number one right now, brooks kepka to talk about the big business of golf ahead of playoffs there. david is here on trade, and then bill clinton's former chief of staff chairman mat mccarthy joining us to talk 2020 and hawaii congressman presidential candidate tulsi gabbard is here. a lot to come, don't miss 3 hourht

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