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tv   Mornings With Maria Bartiromo  FOX Business  August 28, 2015 6:00am-9:01am EDT

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european markets opens a short time ago. cac and dax are currently trending lower. dax in germany leading to the downside off one half of 1%. it is still early action showing. >> i don't wear a toupee. it is my hair. i swear. come here. come here. come here. come here. i'm going, we'll settle this. is it mine? look. >> it is. >> it is. say it, please. >> yes, i believe it is. >> thank you. sandra: what is morning without a little donald trump in south carolina thursday where he decided to tackle a major campaign issue, his hair of course. trump went on to bash republican rivals including jeb bush who he continues to call weak. facebook hitting a major
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milestone this week, ceo mark zuckerberg, highlighting in a blog, posting on monday one billion people used facebook. the first time that happened in a single day. that means one in seven people around the world logged on to the social network. >> there has been an awakening. have you felt it? ♪ sandra: i confessed on this show yesterday that i had never seen "star wars." i sent fans into a frenzy. there is another frenzy this morning over this short tease they're dropped yesterday on instagram. it is latest in the stream of clips of an incredible marketing campaign leading up to the december release of the ""the force awakens"." the latest projections on the movie called for 600 million-dollar record opening weekend for disney. first back to our top story this morning, a roller-coaster
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ride this week and your money is along on for the ride. after seeing biggest two-day point began ever, the market is opening lower this morning. remember we kicked off monday morning with the thousand point drop on the open. it was such a volatile week in the stock market. where do we go from here? looking like a lower opening but markets positive for the week? >> i think we'll trend slightly higher. we'll not break into new range to the upside. we'll go sideways. i think the market needs to absorb the volatility. >> that is so boring, move sideways for a bit. >> actually it's a healthy thing. >> better than plunge. >> side ways is better than down. sandra: david, what do you like about these markets right now? >> always good to see the stock market up. as people think about their retirements, you want them to be in a good mood, particularly as we get ready for election this year. it has been volatility in the markets that continues to make
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the economy number one issue for voters. if you look at every exit pole over the last couple years, 45 of 46 exit polls put economy number one concern of voters. activity like we've seen in the last week only will continue to keep it up there. >> but isn't the economy though, an individual personal reading? i think we get a read on consumer confidence later this morning. >> university of michigan. >> university of michigan. isn't it based on one's own personal experience and situation which is usually jobs and gas prices, jobs and food inflation, instead of the stock market? >> i'm sorry that is why donald trump is resonate something well. he is talking about jobs. talking about competition. >> wage gains. >> dagen, to add on to your point, for many people, 30 days from being on the street. as they see savings go away or they have no savings. trying to make their bills pay match up, that is why the economy continues to be their number one concern. sandra: i can't believe the way we started week we're talking
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about the largest two-day point bain for the dow we've seen in quite some time. the dow is up 6.% in two-day period. oil another big mover for these markets. i'm always watching commodities. oil is a huge story this morning. crude oil coming off the biggest one-day gain more than six years. energy sector leading gains, and stock market yesterday seeing biggest one day gain in almost four years. phil flynn, standing by in the pits, bright and early at cme group in chicago with more on this phil, it has been historical week for commodities, particularly oil. >> it has been. we are out of the abyss, that is the way i like to look at it. when oil prices were below who a barrel. that was signaling doom and gloom. i don't think the -- when prices fell we had biggest point drop in oil in preceding weeks since 1986.
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this market is due for a rebound, a little bit of a reality check in oil. sandra: phil, stand by for just a second. i want to bring you in here. energy and stock market, one thing to look at a rally we saw in oil prices yesterday. just unbelievable day. >> yep. sandra: the sector had huge impact on the stock. best single-day gain in four years there. >> yeah. sandra: could this be the sector that brings the stock market back out of this slump? >> well good thing, it had a lot of way to go up. so in that regard i think that it could definitely drive direction. what a lot of central bankers and investors are looking at is lack of inflation. if you get oil moving higher that is actually good thing for gdp and economy and job growth in the u.s. now that we have so much focus on shale. i think that energy can lead and, i think if yields start to
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move higher, financials will lead also. i think it is unclear whether the supply demand imbalance worked itself out in oil fully because it is unclear how much iran production is going to come on the market. sandra: but still we're having to deal with are historically very weak oil prices. while they might rise, those could be benefit of rising oil prices, you're looking at nymex crude month to date, off 10% year-to-date, david, off 20%. so you're still talking about oil in a bear market right now. >> you continue to have opec who doesn't want to raise prices. as we try to find more and more jobs in the energy sector, we have the president finally agreed to start allowing oil shale to go after oil exploration in the arctic. who comes out, minutes later, with her twitter against it is hillary clinton of the as we start looking into the 2016 election, we have somebody who wants to create jobs, all 17 republicans want to create jobs
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in energy field and arguably -- >> run on high gas and oil prices for american people whether a job creator. >> hillary is trying to change every topic from email. as long as it is oil and terrorists, whatever it may be, as long as not email, that have food for her. >> phil, have we seen, if oil stablizes where you see stop to job cuts in oil here? some of these shale producers can be profitable about $30 a barrel, can they not. >> i, some of them can but a lot of them can't. depend on how well their balance book is because a lot of these shale producers owe banks a lot of money. if any number above 40, if it is stable the market can adjust. when you see wild swings and price crashes is when it hurts. i'm hearing a lot of talk about
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insider buying. a lot of companies looking to buy out shale firms. i think we'll see more mergers. we're to the point prices are so he low we're looking for bargain hunters. sandra: phil, before we let you go, commodities as a while, i had a viewer tweet, how about the farmer? they're having tough year too. >> they are. sandra: grain prices and a lot of hot, dry weather across the midwest right now. while we look at oil price this is morning, we're looking at broader commodities, as an indication where things are going. what's your take? >> i think they will be a victim of their own success. we'll probably have a very strong crop this year. so their profitability will be down. a lot will depend on china as well. if the chinese stock market rebound, if that economy is good, imports into china, exports into china should stay strong. that is what we need to get profitability up for u.s. farmers. sandra: so crazy for midwest girl to see corn prices back at two buck as bushel there, phil. >> it is. let me see where they're at,
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yeah, well, 3.60 for the september. sandra: wow. >> i do remember they were below two bucks. those were the good ol' days. not really. >> that is great for cattle ranchers, phil, come on, man. >> we don't have any cattle it feed. we have one smallest cattle crops in 50 years. make the cattle fatter. sandra: good conversation. we'll keep it up. another busy morning for markets. tesla meanwhile, setting new record, 2015 model. is, officially highest rate the vehicle ever tested by "consumer reports," breaking rating system achieving 103 points on 100 point scale. how is that possible? high rating boosted tesla stock more than 8%. investors give tesla a rave review in "wall street journal" highlights big rally. other headlines topping wssj
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this morning. uber china. selling a home $100,000 over asking price. home prices go ballistic in san francisco. indyaw braves luxury goods. makers of expensive items target new patches of wealth outside of megacities. keep it here on fox business. ♪ can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
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can a business be...alive?
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...is as easy as it gets. wouldn't it be great if hiring plumbers, carpenters and even piano tuners... were just as simple? thanks to angie's list, now it is. start shopping online... ...from a list of top rated providers. visit angieslist.com today. sandra: welcome back. u.s. stock futures pointing to a lower open this morning. looking at dow futures off 110 points. s&p futures off 13. nasdaq down 25. oil is a huge headline after
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yesterday's big run-up in prices. this morning oil down slightly after that big rally yesterday. meanwhile, incredible video from the caribbean where tropical storm erika is making its way to the u.s. mainland. cheryl casone is here with more. good morning, cheryl. >> good morning, sandra. this could be oil story depending what this storm does. look at pictures from dominica, high winds, heavy flooding. erika claimed already four lives. expected to hit u.s. mainland and florida on monday. we'll have new video. billionaire activist investor carl icahn, reporting a stake of 88 million shares in freeport-mcmoran. the stock taking off. in sec filing, icahn reported 8 1/2% stake. he says the company is undervalued and needs to address several corporate governance issues. apple gearing up for newest product launch, invite for event on september 9th.
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listening on radio, tag line is, hey, siri, give us a hint. speculation apple will unveil two new phones, iphone 6 s and iphone 6 s plus. huge crowd booked for this. i was on siri, give me a hint. it kept reading hit, hit. that is why i don't use siri. sandra: i use siri. i actually do. i'm walking down the street, want to know where nearest whatever store. >> it works for you? maybe i have a speech impediment 15 years in journalism and i can't speak english. sandra: maybe he just doesn't like you, cheryl. >> he doesn't. it's true. sandra: you were asking a new apple tv set set-top box is expected to be unveiled. iphone 6 s. new color for iphone.
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is this what apple has been criticize, really, the new innovation is color? apparently it will be rose gold. what to you think about this? >> i think biggest thing we're waiting for apple if they can get broadcasting through apple tv. that would essentially cut out the cable box provider. it take a long time to get that done. that would provide them kind of the next leg of that subscription model off of hardware. >> i'll add this, idc, the market research firm said that apple shipped, an estimate, 3.6 million watches in the second quarter. that is second only to fitbit, 4.4 million. it is worth noting that apple sold 3.3 million ipads in the first quarter it was released. that would top ipad sales. >> people buying ipads and iphones basically what you're saying? that is pretty good. sandra: is that sustainable though? is that a one-trick pony? big unveil, everybody buys it
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and realize they don't need it and don't buy them again? >> they're on to something, president of at&t ohio sharing with me there will be 25 billion mobile devices by 2020. to allow somebody to forget their phone on a bus or, leave it at their office and see how they freak out when they can't be connected. >> that's true. sandra: sources apparently are telling some of the technology journals they will also unveil a new smaller iphone, a four inch iphone, but -- >> go back to close toward original, the size of the original phone. sandra: yes. but not expected to be unveiled at this event. supposed to be ready for november. anyway this assault chatter. shah, cheryl. >> you bet. i go back to siri and we continue to argue. update later. sandra: you guys need to make up. >> i can't get it to work at all. sandra: really? >> ever. sandra: stuart varney did that, i think she spoke back to him. donald trump addressing one of the biggest controversies
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around his campaign head on, his hair. you don't want to miss this. more on the craze the new "star wars" movie is creating. disney releasing this new clip to add to the frenzy. it is expected to rake in over 600 million in it is first weekend. more after this. ♪
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sandra: donald trump holding a commanding lead in recent polls. also on the campaign trail if south carolina thursday, tackling major issues of course, his hair. this is what "the donald" said about being confronted about his hair being a toupee. >> i don't wear a toupee. it is my hair.
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i swear! come here. come here. come here. come here. i'm going -- we're going to settle this. is it mine, look? >> it is. >> it is. say it, please. >> yes, i believe it is. >> thank you. sandra: glad we got that cleared up. >> was down to reese witherspoon, was she not? i believe it is. sandra: we have caitlyn burns and conservative political editor keith cough letter. do you think donald trump is in this race for the long haul? of course that is a big question. >> i think that he is. couple different reasons. he is leading in the polls. if we know anything about donald he likes to cite his leads in the polls. knows them down to the cross tabs. we're seeing campaign infrastructure. hiring people in early states. he is working iowa. doing these events. >> hired away one of governor
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perry's guys, interviewed on "cavuto" yesterday, sam clovis. >> on perry's team for the long haul. now shifted over to trump. we're starting to see workings of an actual campaign. sandra: now donald trump, keith, he said on this program, he told maria bartiromo that he hadn't spent a dime yet on this campaign he continues to lead in the polls. is that changing now? is he starting to spend some of his dough. >> yes. i'm not totally convinced he doesn't wear a toupee. pay for the best blue, best blue available. i want to have jeb bush tug on that thing. jeb, will take it off, if anybody can take it off he will do that first of all i'm not done with that necessarily. but yes, he is must be spending some money. he has all the limousines running all over the place. technically maybe not on the campaign. i don't know how he is arranging that. you know, the clearest indication to me that he is in this seriously and for the long
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haul was the appearance in alabama. remember, he went to the south to have a campaign rally. he is looking now at the tuesday primary that, super tuesday primary next year after iowa, after new hampshire. alabama is one of the states voting in that. there are some other states, southern states, tennessee and others that will be there. he is looking towards the long haul. and where he is going beyond iowa, new hampshire, telling me he is very serious. >> he said something yesterday that was very critical in the q&a, the kind of gaggle afterwards. it is in the "new york times" today. he is weighing, he will soon decide whether to sign a pledge to support the ultimate republican nominee for the presidency. it is required by south carolina to enter the primary. he said if i sign that, and i break it, you can sue me. he commits to that, that is a very serious commitment, not only to running for the, to the
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republican, any republican nom knee and republican party. it is a big deal. sandra: one thing for sure he continues to lead the conversation. maybe that arguable. but it appears that way. now steering towards the economy, as you still mention number one issue, polls show it is number one issues for voters. tax the rich more, middle class yet. he wants to lower corporate taxes. made it very clear. wants to lower government spending and stop raising debt ceiling. he had rhetoric about hedge funds. he says hedge fund people make a lot of money and pay very little tax. >> he is populist billionaire. never thought we might see this in this campaign. it is interesting, but it shows a seriousness on behalf of the campaign. you have to watch these other republican candidates, how they manuever with trump in the race driving a lot of conversation about policy which we really didn't expect. but you talk to trump supporters, they don't really
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want him to go into the weeds on this stuff. keep up this rhetoric and they're really frustrated with the way the party is going. so it will be interesting to see how these other candidates manuever. marco rubio and scott walker are giving foreign policy speeches today. they have been going after, trying heavily, you know part of this conversation involving -- sandra: we're showing the poll right now, that latest "quinnepiac poll," he is still dominating in the republican field, leading the way 28% there. thank you so much, to caitlyn huey burns and keith kofler for joining us this morning. >> thank you. sandra: 10% move to the upside yesterday. here is how it is trading right now. up slightly at $42.62 a barrel. we will have reasons behind these huge moves, one of the biggest we've seen in a long time yesterday. tiffany down but hermes up. what is the truth in the
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high-end luxury brand market. i will gladly talk about that with dagen and nicole next.
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..
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sandra: more wild swings to end the week. markets pointing to a lower open this week. dow futures up 124. welcome back and sandra smith. maria bartiromo has the morning off. it is friday, august 28th. with me, dagen mcdonnell )-right-paren wolfsburg and david avella. futures right now point to a lower open for you. the dow futures pointing that a triple digit loss this morning. right now trading at 125. we are watching oil prices develop is a huge story this week. crude prices surging 10%. crude down just slightly hanging onto $42 a barrel. china stocks higher overnight shanghai composite rallied 5% with a 150-point gain.
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up 560-point game. the european market open a little bit ago. the early action indicating pressure on the european names at the dax in germany than seven tenths of 1%. they spoke in a major milestone this week. prior to make the announcement on monday 1 billion people use facebook. the first time it's happened in a single day. one in 10 people around the world logged on to the social network. >> it is an awakening. you found it. ♪ sandra: "star wars" friends in a frenzy over the teaser that dropped yesterday announced a grant. people are going nuts over this.
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the latest in a the latest in a stream of clips of an incredible market campaign after the december release of the fourth the weekend. the latest projections call for a record $600 million opening weekend. do a little more and not. back to the markets. it has just been an unbelievable historical week for these markets and it continues this morning. u.s. features singing triple digits to the downside. looks like we may have a lower open on wall street three hours from now. the s&p 500 futures off a 10th of 1%. even losses across the board while we watch old developing as a huge story that has been a story mostly to the downside with oil dropping below $40 a barrel this week. the huge rally yesterday now oil prices that a $42 a barrel. after the biggest one-day gain in four years the rally continues someone want to bring
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in chief economist john silvia. i know you have all the answers for us this morning. to oil prices continue this one-day move higher yesterday? >> i would suspect it does continue a day moderate pace. the market trying to revalue what is chinese economic growth. their saliva pessimism. a week ago the chinese revaluation and okay, now we are concerned about growth. as we've seen during the week a lot of good numbers coming out and not to suggest oil prices have bottomed and are moving up over time. sandra: business naturally what happens? this is sheer economics when you get a drop in prices to get a pickup in demand. i will turn to daring because this is what happens. >> absolutely. we've seen demand increased by
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1.5 million barrels per day globally as a result of the drop in prices people buy more suvs. i think the one thing we haven't seen as much of this increase in consumer spending because people carry balance sheets internally. sandra: john, anything surprising you with the energy market. we've been looking at the equity side of things. energy sector in the s&p 500 by thinking on wall street as we saw the rally in crude. >> well, the first thing over the last six months has been assisting production levels and energy, particularly shale will and the western part of the u.s. that has been a little bit of a surprise. a lot more shutdown there. second, there's been a cutback in equipment spending and construction for those industries. production has remained solid.
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>> here today, crude prices down 20%. you still look a crude in bear market territory. david, very much a political point because we're looking at continued job losses here in the united states as a result of this shop in oil. >> two factors. the economics of people's confidence i'm not going out in traveling more, not doing things have required the use of oil and gas in matters of sector. equally, the number of regulations and taxes we continue to see a government policy have an impact and unfortunately with the potentially none of the cosmos job loss but also potentially more consolidation in the industry which cost more jobs. it is why the economy continues to rank high. >> yesterday one of the big assets as oil when they bought exp and a memoir. >> i was a big move, too.
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talking about the shakier place will get snapped. sandra: we've got to leave it there. if you were to look at a specific price and will come aware are things going to go? >> i would think about 55, $60 by the end of this year. sandra: do you have it. i asked for a short answer and i got one. diamonds might always be forever, but tiffany is a senior result in earnings. painted by visiting the luxury jeweler. nicole petallides joins us on sight. >> good morning, everybody. a 15% drop in profit. shares fell to an 18 month low yesterday following this result. not a luxury retailers are feeling the pinch.
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posted may 20% jump in the first type of earnings. sales to the brain known for the silk scarf, birkin bag are seen demand in japan come united states and also in europe. we've been seeing hermas shares up 9%. so what do you think about the stronger u.s. dollar? sandra: a lot of this is a currency play when you look at the big international luxury retail names, you're going to tiffany. and you hear a lot of foreign accents. >> went to bigger things if tiffany tiffany has a store in europe when they bring the year is back in the u.s. at the lower price. the result is that as it is going to be lower earnings. i think that is much more to do with why tiffany's may be lacking versus rms, birkin and vice versa. >> they've been working on nat
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line and a new watch and the like. the dollar has been a very big story. if you have a tourists coming to their flagship store, they see something that the thousand dollars and they translate and say may, june july, year after year is that the dollar. dagen: hermes has conned the world into saying there's a shortage and analysts say that is one of the reasons it is the most stable and kind of your code to name in a downturn. sandra: if you are talking hermes commuter talking 50, $100,000. >> let's talk about dollar general now. don't forget to start your day with nicole, me and lauren simonetti. "fbn:am" right here on the fox business network. as a rebound from the crater, a different hole opens up and takes five chinese citizens with
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it. ♪ we live in a world of mobile technology,
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but it is not the device that is mobile, it is you.
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sandra: welcome back. u.s. stock futures pointing to a lower open. another triple digit and is expected on wall street this
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morning. dow futures up 150 points. while developing a huge story as well after yesterdays run-up in prices. as when oil is down three tenths of a percent after restart a big 10% rally in oil to finish the day yesterday. we will keep watching it for you. and credible video from the caribbean were tropical storm erika is making its way to the u.s. mainland. cheryl casone with the latest on that. >> this could be an oil story as well. take a look at these pictures from dominica. high winds, heavy flooding. the star making its way through the caribbean this week and expected to hit the u.s. mainland on monday. former president george former president george w. bush in new orleans today 10 years after the devastation caused by hurricane katrina. he will visit a high school you went to after the storm 10 years ago. in our 8:00 a.m. hour we'll talk with fema director michael brown
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has said he should stop being blamed for the agency's failures during the storm. finally take a look at this. a single in the northeastern chinese city swallows five people. there you go out of their car and. four people injured in the capital city. the surveillance footage shows pedestrians walking on the pavement when i gave in and took down some people directly over it. no one was killed. just a few injuries. >> unbelievable video we are watching. sandra: oil may be coming off its biggest one-year game. the price at the palms calling it again overnight now sitting at $2.15 for a gallon of regular. that is down 12 cents from a week ago. for those planning a little labor day getaway next weekend and low oil prices also hit prices also hitting airlines for some frequent fliers getting amazing deals on airfare here for more on travel and bring a travel expert francesca page,
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francesca joins us live this morning. great to have you here. if we don't are to have labor day plans, which i suppose you would come up as some people realize that they're spending money. maybe some extra cash in their pockets. but if you plan a getaway, where should they go? >> a few recommendations that are fun filled unaffordable. my number one pick is savanna in georgia. it has beautiful architecture, amazing southern comfort and of course classic southern hospitality. dagen: at the vacation and a half bowl of clam chowder. it is so humid and it does smell like to see in good ways and bad. >> is a notable event they do over the labor day weekend. one is on the island which is the labor day beach bash which is a big coup. and of course the youthful historic bmps. i stayed where it's just
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gorgeous. sandra: good golfing as well. las vegas, to dagen's point. >> i went to vegas once in august. it was only like 98. no humidity. cheap as all out. >> absolutely. sandra: only if you like to gamble? >> a lot of pool parties and fund parties. dagen: daytime nightclubs by the pool. >> kayak.com for vegas. sandra: one because you've been a resident there. dagen: i'm from miami. i've a place down there. >> prices tend to be cheaper and they have a lot of pieces after the labor day weekend. sandra: the last one we don't
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have time for which is montauk. residents are little upset that is such a destination. they like their quiet little community and now it's getting fancy. thank you. "star wars" takes to answer grandma lives in a teaser for one of the most anticipated moves of the year. one shot in particular has fans all abuzz. more on that next. keep your right here on fox business. created using digital models and real world location-based specs that taught it how to follow the wind. so while the ones on the left are waiting, the ones on the right are pulling power out of thin air. pretty impressive, huh? now, two things that are exactly the same have have never been more different. ge software. get connected. get insights. get optimized. why should over two hundred years of
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but sandra: all of you crazy star work -- not crazy. "star wars" fans, and lucas films and disney making click a surprise revelation on the histogram account with this
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video the highly anticipated film. >> it is an awakening. have you felt there? sandra: it is a short teaser and the latest in the extreme clips we've been seeing over the past few months. what everyone is talking about in the clip, the blue light saber. dagen: i know what it is. nevermind because i'm not going to take the story away from your next guest. [laughter] sandra: we had to jump right into this. i dare to confess yesterday am not a "star wars" fan but i do know i will be. michael dinero is with us. everything and never seen before. they put it together in the short clip and it is selling at. >> there is something new. the initial clip, we saw him in
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a storm trooper outfit. people were sure is a good come is the bad. outlook psyches one of the good guys. they been so smart intruder that smart intruder got how they drop these clips with little nuggets here and there. dagen: he's a good guy. >> before the movie comes out, we made a friday where everybody can dress up as their favorite "star wars" character. sandra: by disabling few -- when he decided the viewing party because i just don't get it. this week imax reaching an exclusive deal to screen only "star wars" the force awakens on every one of its north american screens and a majority foreign ones for four straight weeks.
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michael, you spoke to a imacs ceo richard g-golf fund at the mission impossible premiere. >> i asked him how important is that movies are to the overall business plan and this is what he had to say. >> must imax is built around the movies. if you have a bigger than life movie where it is hanging onto an airbus, you want to see that. you don't want to see that on your tablet or cell phone. that is what makes our business. sandra: disney is putting out a father large movies during the holidays. >> it creates an event for them with so many screens people are competing for. people want to see this movie on the big screen in 3-d. for disney blocks out the other guys. fox has a movie coming out and hunger games is not out of the box. from a competitive standpoint it makes a lot of sense. >> in the new american horror
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story, hotel releasing a lot of new photos. she's an actor and singer. this is the big debut. she has played the countess hotel owner/empire. ryan murphy is a genius with this show. sandra: like her or love her, she is talented. dagen: she is doing it because her music career is over. the last pop album should pop album she put out was horrible and it should horrible and then she tried to comfort herself into a tort singer which did well, but this is where she is and ago. sandra: she's never going to be over. she actually is talented. she's a very good musician. dagen: she will be lucky if she's not working at cantor's deli in l.a. >> you are going to hear from
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her fans. sandra: she's great -- dagen: she would never live in l.a. she's a new yorker. >> shoe or diamond paste these, heels and a black belt by alexander mcqueen. this is a role she is made for. dagen: her husband is hotter than the face of the sun. sandra: a good summer for the box office. >> they would hit data for playmate. it is not chump change. the big winner at december this night 35% of the box office. jurassic world, fast and furious, one hit after another. dagen: mtv music awards on sunday. miley cyrus. you know she's going to have in an ip slip.
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great to have both of you. good hour, guys. dagen, even after your comments, i will he stick around. dagen: no just kidding. don't send me he tweets. sandra: a huge rally gaining global attention. nicole petallides standing by with more on this. >> i want to know which if you address that friday will be chewbacca. they'll be the hottest dude out there. dagen: i won't shave that morning. last night sandra: let's bring it back to oil. >> 10% gain for oil, the biggest move in six and a half years. we are being talked about exchange traded funds. the etf has names like halliburton, banker, he is. we saw came by jumping of course jumping of course on the tie up
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their push slumber of her. we watch to see what oil does again looking on the change line. that is certainly a winner and in the etf if you're interested in oil. jason robbins coming up, michael brown and may the force be with you.
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sandra: an unbelievable week on wall street. we see out of his futures pointing to a loss of mail bin. and sandra smith. maria bartiromo has a morning off. would say this power, dagen mcdonnell. fox news contributor david webb making an appearance this morning. futures point to a lower open for u.s. stocks. dow futures with a triple digit loss this morning. right now seen enough 164.
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s&p down 20, nasdaq futures up 40 points. we are watching oil this morning. crude prices 10% to close the session yesterday. right now oil is slightly lower $42.33 a barrel. chinese stocks higher overnight trip to shanghai composite of 5% with a nearly 150-point gain. the nikkei in japan seem big games. the 560-point rally. european markets open in a short time ago watching early action to the downside. pressure on european stocks with the dax and germany off nine tenths of 1%. >> i don't wear a toupee. it is my hair. i swear. come here, come here. we are going to settle this. is it mine? look.
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>> yes, i believe it is. sandra: donald trump in south carolina or stay where you decided to tackle a major campaign issue, his hair. trombone on to bash republican rivals including jeb bush who he continues to label this week. facebook and mh or milestone this week. mark zuckerberg touted that on monday 1 billion people log onto facebook, the first time that's happened in a single day. one in seven people around the world logged on to the social network. >> there's been an awakening. have you found it? sandra: "star wars" fans in a frenzy over the short teaser that dropped yesterday announced a grant. the latest in a stream of clips on incredible market campaign leading up to the december release of the four so weekends.
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the latest projections call for a record $600 million opening weekend for disney. oil continues to be a huge story this morning. crude off its biggest one-day gain in more than six years in the energy sector leading gains in the stock market yesterday seen its biggest single day gain in almost four years. phil flynn standing by early at the cme group in chicago. what do you make of the strong finish, the 10% rally in oil after the train had been primarily to the downside for oil prices. >> well, the price to match that it was oversold and that's what we expect. another reason is because of the turmoil in the global market is what the fed fund futures basically taking september rate hike off the table right now. as for bush for demand. in a country with very strong gdp and strong oil or for all.
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sandra: despite starting off the week with a 1000-point drop, the averages have all recovered into positive territory after yesterday's huge rally. the dow jones industrial average saw the largest skating history over the course of wednesday and thursday sessions. futures right now point to a us on the open. watching oil prices and stock market. as we do watch the volatile energy markets. in the meanwhile, the tb strategist katie stocked in. make some sense of what's going on. energy let the games yesterday. it looks like everything is down again. >> could it actually is pulled back this morning and in volatility we've been seeing such volatility that is historical by proportion. years have passed since we've seen what we see now. it is a wild time not just from
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a tech standpoint but otherwise. sandra: what you do in this environment? what are you telling people? >> if you have the luxury of sitting back and watching, you should take that. i say that in part because typically sees a retest of the low end mac can be pretty severe and a little bit harrowing. if you can wait it out and let the market establishes slow, find some support, you're better off in terms of a risk management standpoint. of course it was very deeply oversold going into the pullback. as soon as you get a little bit of short covering, a really exacerbate. >> john, you're a study of history. these are unprecedented time. predictions about what the fed will do next, whether we are oversold or not.
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>> is that going to sustain itself in the next quarter? you just said they retest the load. that suggests you think we've hit the low. is your technical analysis telling you what happened this week was in fact the love, that it is up or jaggedly a premiere? >> 80% of the indicators say yes indeed we have a very important love already in place at the worst is over for the broader market. that is the good news. we also have a lot of breakdowns that are pending confirmation on a closing basis this week and next. that is why i would like to wait and see how it all plays out in the days ahead as opposed to weeks ahead. >> are talking about days, weeks or is that a low for the next year coming year and a half? >> long-term. in hindsight will say this is a major buying opportunity for u.s. equities and beyond. even china's stock market looks correct this.
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we've had such an emotionally charged correction and because of that volume has spiked. sentiment is bearish and the participation is extremely oversold. basic strands are rarely ever registered. the last time i saw was october 2014 when the s&p 500 bottomed and before that you go to 2012, 2011. the best analog is probably 2011 and we did see volatility over the subsequent future breakdowns. sandra: you have an historical week in the market like this and we are not leaving until we found the opportunities. we are getting paid to find opportunities for customers. where are you seen the opportunities and what has been an unprecedented week in the market? >> depends on your timeframe. right now the deeply oversold
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sector as an opportunity of technologies. it has underperformed the last few weeks and still broader uptrend or in taxpayer. technology is very interesting. semi conductors. i like the idea that in exposure to the oversold areas like energy that would be beaten up for a sector specific resent. and yet they can snap back or decayed. sandra: by the way, dagen might want to get in on this paper market has been tested because of huge news. notably the etf story that dagen has been all over. >> good-natured dividend etf's, low volatility that were down 30% to 50%. orders were filled to sell individual investors. >> i hear the same thing. it is unfortunate this is what is happening. i don't think we can control it
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and a lot of folks blame some of the selling to be technical in nature. i would argue against that and i say that because i think stalin is rarely ever technical. we can react to the market price action and evaluated, but they will tell you what, but not really why. sandra: i want to quickly add one thing. what is going on right now, the atf industry and now some writers are on board with this. they are blaming the investor for not knowing how to trade, for putting and stop orders that turn into market orders that are filled down 30, 40, 50% on funds that were supposed to be safe. there is a headline how in testers messed up during this week's market scrambled and that is the most disgraceful thing i've ever heard in my entire
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life for the industry to point the blame individuals who clearly didn't know risk. i argued this bts arms did know the risk. they had no idea those prices would be down. sandra: now you wonder -- i talked to traders all the time. you wonder if we can witness without intervention by the fed. what will happen when we see the next big move? katie stocked dan, phil flynn, thank you for joining us. huge, huge why we watch oil prices. tesla sets a new record. the model as is the highest rated vehicle ever tested by consumer reports breaking the system by achieving 103-point. off the chart. more than 80% with the headline investors giving tesla a rave review. take a look at the other headlines top in "the wall street journal" this morning. over china close to new finding
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about $1 billion from investors in the region. selling a home for $100,000 over its asking price. india embraces luxury goods. targeting your patches of wealth outside major cities. keep your right here on fox business. ♪ technology empowers us to achieve more.
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train to put them back. u.s. stock futures pick another wild ride this morning at triple digits on the losses. dow futures than 152 points. nasdaq down 38. oil developing as a major story as well after yesterday's big run-up in prices is 10% rally to close the day yesterday.
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flirting with the unchanged line from the above $42 a barrel. incredible video from the caribbean were tropical storm eric is making its way to the u.s. mainland. cheryl casone with more. >> good morning, everybody. the pictures from domenico this morning. high winds, heavy flooding. erica has claimed four lives there and the star making its way through the caribbean this weekend expected to hit the u.s. mainland florida on monday. ceo mark zuckerberg writing 1 billion people use facebook. the first time that has happened in a single day. one in seven people around the world logged onto the social network. a rough day for luxury retailer tiffany. the stock punished after the company reported a 15% decline. strong dollar getting the blame was spending in the u.s. fell.
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donald luxury retailers got hit. luxury back hermes reported a jump in operating income. i am with dagen. i don't get the birkin back thing. i don't. and i'd love purses. they are doing well, so go figure. dagen: they have created this aura around the company that people think they can charge much higher prices because there's not that much supply. i argued there is a warehouse somewhere and they just dole them out. >> with tiffany, they say tourism in the u.s. is one of the big issues for them. they are saying tourists in america on spending because of currency issues which would make sense. sandra: the sales job in japan for hermes richard into sales in
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japan. wealthy chinese tourists are going to japan to buy these items which is interesting. >> about the japanese are going to bomb. it was like japan bar too. that is their weekend spot. sandra: have you ever purchased a gift for anyone at this luxury retailers, hermes, tiffany. they really count on the men to go into the stores. john? >> i end >> i am moving right past that so i don't have to confess. this is the big issue now that these luxury goods makers like tiffany and others, are they going to see their sales tip down as a result of what is happening globally because people feel less wealthy or with the other try and bring them up which increase in that the markets are producing tremendous amount of middle-class buyers. so which trend will dominate?
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>> also the middle-class. observationally in a recent trip, on, hawaii, who is going in there? sandra: emv said it's not necessarily they install more of this. they make is so cool with the waiting list. dagen: it's not true. >> thank you very much. encouraging signs in the u.s. housing market. real estate expert joins us next with a look at where you can find your dream home for the rate price. stay here.
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get reliable internet that's up to five times faster than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best thing you can give your business is comcast business. comcast business. built for business. great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. sandra: forward-looking gauge of u.s. home sales edged slightly after falling in the previous
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months. depending home sales index rose half a percentage point falling short of the expectations. is this a sign the surge in momentum we saw in the first half of this year could be leveling off? when ms does chris lovett from douglas element. thanks for being here. plain and simple what is happening in the u.s. housing market. are things getting better or worse? >> they are doing great. my end great. miami we had our historic summer. two months of incredible sales. sandra: can you take what is happening and what u.s. city at a pie that generally to the country? >> it is hard to say but generally speaking this positive outlook and i think sales are happening. we had an amazing summer and we will see. dagen: longer-term mortgage rates. >> exactly. there's confidence in people buying. interest rates are low. job market is good. it makes sense to purchase.
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>> who is buying? who is buying in miami. what about the big spots of this country. the buyer matters here. >> absolutely. the buyer in miami has shifted a little bit. it was the russian, brazilian. now it's a lot of new yorkers, local buyers, people that want to move to miami and lay them say i'm done with new york, chicago. i want to live in a beautiful place and do my business there. >> is florida losing residents to any other state? >> no one is leaving florida. that is where the market is so tight right now. it is not just miami. a south florida for miami to palm beach county, fort lauderdale. these are all extremely tight markets right now. >> how much of this is you don't have to be a major city like new york, chicago, l.a.
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you can pretty much live anywhere. how much of the suspected home comebacker at home. >> a lot of millennial are way too high, time to purchase. miami is cheap compared to cities around the globe. an apartment in miami could be half the price of new york. that's an important economic factor we hadn't seen before. they've been out of the job market, hit the economy at the wrong time. back on the international buyer, in new york, one broker told me he saw about 25% of his business coming from overseas money. similar interest in the miami market from that america and russia, that money is beginning to slow down a bit. you are saying it is picked up by domestic buyers.
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>> completely supplanted a completely supplanted to revert what is happening in the markets will effect the u.s.? >> i'm not really concerned about that. they want their money out and i safeguard assets. also, so many -- sorry. so many new yorkers are coming in droves every day to purchase in miami. dagen: what about the chinese buyer? you see more of a presence among the wealthy chinese in miami. >> right. we seem a little bit of that. i don't think it's come quite full circle yet. i biggest client right now is a turkish buyer. lots of turkish buyers come into the market. >> a lot of people are hedging their bets from overseas. it is safer investment. sandra: right now is the anticipation of an interest rate change in the united states anticipation about what they'll do to the real estate market.
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all but two of 22 economists at the real estate market in the u.s. can withstand a federal reserve rate hike, which is interesting to me. >> possibly the first time that there might be two. chris thank you. over his top aide at the center of a new controversy. we will discuss. stay right there. a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?
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sandra: wild swings to end the week, before the market futures pointing to a lower open on wall street on friday morning welcomeback i'm sandira smith maria bartiromo has morning off friday, august 28, and with me this hour fox business dagen mcdowell in friday state of mind "the wall street journal" john busey. >> sirius xm host david wen. >> futures lower open gratuities a triple digit loss this morning in fact getting used to this around here right now we've got dow futures off 137 points weakness across the
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board, and we are watching, oil, developing as a huge story if it hasn't been with a sell-off in recent days and weeks we saw a huge rally upside, 10%, to close yesterday, right now oil is slightly lower off 27 cents, china stocks higher ont shakening capacity rallying almost 5%, 150-point gain there, the nikkei in japan, also seeing big gains 560-point gain, european markets opening, a little bit ago you saw early action showing weakness we continued weakness midday trading ftse, cac dax lower, facebook hitting a major milestone, this week, ceo zuckerberg tried to announce in a blog post that monday, one billion people used facebook. that was the first time has happened a single day one in seven people around the world logged on to that site.
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>> an awakening. [dark music] calm down excited about this "star wars" fans in a frenzy over that short teaser that dropped yesterday, on instagram, the latest in the stream of clips of an incredible marketing campaign leading up to the decemberries of the force awakens hashtag on twitter account going nuts late call for a record 6 hundred million dollars opening weekend, for disney. and another twist in the hillary clinton e-mail, fox news obtained ames showing her aide in clinton foundation, her work at government business during a 2012 trip to ireland at that time, abedin held a job at all three organizations see was allowed to do with more here former
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d assistant attorney general. >> what do you make about hillary clinton's aide in e-mails. >> disappointing but i can't say that surprising, honestly the world of clinton's is a tangled web, and these latest revolutions i think straight out of the clinton playbook arguably raise the concern of using, official positions, for private gain if people were in multiple hats at the same time a blending of the personal, and the official, and it just raises all sorts of of red flags about government transparency honesty. >> so david webb on set, before i get you going i know you are all fired up about this one, the latest poll he reveals single word choices of people when they think of hillary clinton. do we have those for everybody, all right, two the top words associated with hillary he when asked in quinnipiac national poll liar
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dishonest, untrustworthy, that have the that experience people look at hillary clinton see her for what she is this since watergate someone thrown off he committee, words used dishonest not new the question with clintons in mixing of money, this mixing of money and power and influence, goes to donations from other countries, usa id,ing managed by clinton foundation, used to be 10 million from australia all of a sudden 25 million, you got to look at people the operational modulars she was flying a million miles handed to cheryl mils abedin her right hand goes to what we don't trust about the clinton machine, and frankly look at the growth of the clinton foundation. >> how not dropping even more than she is in polls. >> because there is nobody against her bernie sanders is a farce of a candidate he really is joe biden 18% versus
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hillary clinton something else of the top 7 hmm plus donors the core of the democratic donors, 55 have given money to hillary clinton, their holding money i have it on pretty good authority, that there are those in that 55 that if biden jumps in they move and politics you follow the money. >> there is a level of loyalty i think some on the republican side don't understand, in terms of loyalty to hillary see hurry chosen one apointed one people who back her will through almost anything except maybe an indictment i am not saying one will happen. >> thomas about process at this point this issue is going to stay with hillary clinton through the campaign into the election am i right government sets into its investigation, of this now, there is just a -- organizational process, that is going to keep the issue live in public setting, for the next 18 months. >> that is day will right government investigations move
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slowly they want to make sure they get it right to make sure they uncover all the relevant evidence and make a considered decision as to what to do as far as next steps i think one thing all of us can be sure about this is not going anywhere, any time soon. there is obviously a direct he correlation between the rise of joe biden and trouble hillary clinton is experiencing now the problem i think from the clinton perspective is the same one also a has been they think the rule of law simply doesn't apply to them it applies to the lesser people but not to clintons. >> speaking of which -- the latest controversy and in addition to revelation about hillary clinton's aid clinton can turn gop candidates to terror overwomen's health. >> i'm o fenceded frankly so should every american hillary clinton going to compare her opponents, agree or disagree who ever is watching to people who murder, who commit crucifixions, do horrible things in the name of -- she is compared gop candidates to
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the same people who booby-trapped a child a child's playground, in a city they just took this is what isis did last week, this is another reason people don't trust the clintons, when you look at them it really is the clintons we can't separate one from the other, they are an i operational team disfun shunnal marriage operational team politically. >> this is straight to her supporters was too liberal women comment she wade would have waffling back and forth like statement on e-mail controversy was really kind of speak to more voters, than just the democratic primary voter this was the red meat for her audience. >> is red meat resonating when you come to other people more independent mined to both parties the electorate has changed the you ever aifrpz vr unfavorables where they are.
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>> it disappeared a desperate move by hillary clinton to make that he reference to the gop. >> language in this debate has been kind of disappointing. >> rhetoric. >> we're not getting into asm many issues a lot driven by populism of the moment, you know we will see issues probably discussed, you know, a little bit later on, the notable thing i think for the clinton pain now is that where benghazi issue seemed to receding something that was going to haunt her candidatecy, this one, is very much alive stirs up reaction as you pointed out this is not going to this is not going to go away for clinton, yes she has dropped in polls still 45%, that is still you know, really substantial but if biden were in this race you could see that drop. >> wait both biden and clinton beat the leading gop candidate in a head-to-head matchup both of them quinnipiac poll.
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>> very important point. >> when biden jumps in the shift begins. >> we got to -- >> where he the biden will -- effect. >> thomas last word. >> i was going to say this isn't going anywhere soon i think this whole scannedale reminding people of the problem with clinic tons they just don't get when it comes to rule of law. >> thomas thank you for joining us a massive sinkhole opens up in northern chooirn take five people with it the incredible video, captured, that is next, and later it has been 10 years since hurricane katrina rocked new orleans are former fema director michael brown joins us to share his he experiences while fighting to restore that city. keep it right here. ♪ ♪ ♪ .
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sandra: all right welcome back quick check on u.s. futures here, ahead of the opening we are looking at triple digit losses on dow right now, dow 125 losses across the board, there to kick off this friday morning, of course, we will see how things go throughout the day, how we close. that is going to be big question taking a step back, even with the you know arrow dow nasdaq s&p 500 despite starting monday morning with more than 1,000-point drop,
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when things opened on monday for trading, we are still looking at major afternoons positive for the week! first big news for apple and cheryl casone with that. cheryl: people buying apple stock this week now this new report foreresearcher, estimateing that apple shipped 3.6 million bachelor of science last quarter beating other estimates, that is apple second to fit bit sold 4.3 million for perspective when apple launched first ipad in 2010 sold 3.2 million we'll release not gotten the official numbers, what can stocks fastest man on earth watch this how about look at this, a segue, this is what happened at world championship in beijing, china had won 200 meter race does a victory lap, during -- >> can you imagine, that felt like to his body. the cameraman laos control
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cashed luckily bolt was not hurt, viral this morning video another piece for you a sinkhole in northeastern chinese city swallowed 5 people all on camera four injured in this incident cap city footage showing pedestrians on pavement it gives way takes down five people directly over it guys nobody hurt back to you. >> unbelievable video in china as well as that is gajillion dollar body there, if that happened to me i would have punched the gai in as if he live tv. >> somebody have it me on a big i busted spokes out on one wheel with my foot, sorry. >> awesome, note arrested though. >> don't cross dagen mcdowell. >> don't run do dagen. >> huge story this morning crude coming off biggest one day gain in more than six years energy sector leading the gains yesterday, seeing biggest one day gain in almost
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four years. leading the stock market rally, on wall street, in chicago, on floor cme you are watching this wild ride in commodities oil just a huge story what are you focused on this morning phil. >> i think you have to focus on oil, actually, what it will do for the -- meeting and decisions we just had fed come out with comments, basically saying, about what is happening in oil what is happening in china, may not be a surprise, in china but we have to be data dependent what is going to happen with the data we are concerned about low inflation, expectations becoming anchors but having said that, i mean if you look at oil prices, it is going to be about stock market the fed. >>, by the way, those comments from but willard june maybe -- mr. china over here, bullard says there will be low inflation impact from china. so, of course, markets reading into all comments coming out of but willard this morning.
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>> a slowing economy probably have a slightly slowing increase in wages, in china, products have become cheaper because they just -- devalued currency this is going to quite a few keep inflation around the world, in check, but the question is weather or not it guys to go actually contribute to deflation that is what a lot of -- >> he also says that he expects, that by the end of 2016 u.s. will be above 2% inflation. phil, by the way, stay right there oil may be coming off biggest one day gain in more than six years, but is that translating to drivers? we all want to know the price at the pump falling yet again 2.51 for a gallon of regular. that is off look at that 12 cents from just a week ago. john busey is this good north consumer i know the answer to that one. >> you would think, so right you really would, and we've been waiting for the drop in
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oil prices, not just stimulate culmination discuss a consumer has that much more in pocket if not putting in tank you've been wieth for bigger effect also of oil prices dropping to stimulate industrial growth gheth through to factors the manufactures, to everybody's bill, and you've got this -- this -- this fight going on the economy it is going to slow down faster, than all of the growth stimulus cheaper energy particularly, is going to pick it up. sandra: yeah, phil i want to ask you i know so far pretty much empty these days you spend a lot of time off the trading floor talking to people, hone trade desks in chicago as well what is the over all sentiment this morning about markets as we finish unbelievable volatile week for the stock market and the oil market what are people saying? >> i think a lot of them want ch
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oxygen i have seen experienced traders scratching their heads say i have never seen anything like this. so they are very tired today but i think because of the comeback last of the two days, there is cautious optimism the risk taking taken back guys have been stunned earlier in the week look about like they want to step in front of it something they didn't want to do beginning of the week. >> thanks for joining us, all right. we will see you again in a little bit coming up with over 50 million participants in north america chances are you are gearing up for yofantasy football draft you can become a americmillionaire in one week fantasy football that is next.
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. sandra: fantasy football drafts taking place around the nation, with nfl sen to kick off in two short weeks, all right here we go. the dry has seen incredible amount of growth, rising nearly 400% past-decade, is expected to generate over a billion dollars worth of republican this year alone! the guy at home of it all joining us now is ceo jack kings jason robbins, jack kings the new kid on block in fantasy sports sector the opportunity to play on a week by week basis, jason gowhat prize money are we talking about here, how much are you going to hand out this year? >> we will hand out in the billions prizes this year. >> billions? >> week one. yeah billions, week one with we have two very exciting games you can sign up for right now one is 20 dollars to enter, 10 million in prizes,
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and take two million the first one million the second, and the other one is only three dollars to enter has one million dollars in prizes including a 6 figure top prize. >> how many participants do have to get to a perset size. >> game that is 10 million has 580,000 entries that will be in it, and there will be millions of peel on draft -- >> what is your profit margin? >> uh, well we're not actually focused on profit right now we're focused on growing the user base and providing a superior experience. >> bs on this one -- >> what -- >> you focused on profit? >> if you don't make money you don't survive. >> let's call it what it is. >> you are absolutely right long run we want to make money but we are -- you mentioned we are the new kid on block focused on growing our customer base, and i am providing inspection that will make people stay with us for years and years, and, it is
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really very similar is to how facebook thought in the beginning i remember reading interviews with mark zuckerberg talked about everyone putting pressure on him putting ads on-site he said i am maximizing how many people i have on facebook. >> i just -- okay, you've got who is s consuming this youngyuth people millenials mostly in this how they xhum on devices, i don't play but i will tell you at sirius our channels going 24-7 people are tltsdz 40% millenials unemployed i look who uses this, 40% millenials are unemployed a lot of time you are doing week by week tells me short attention span likely a good thing to get people in to try this out. >> yeah, that is the beauty of it you can come try it for one play, one day, or one weekend, if you don't like it you never have to play again not the
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same. >> jason. >> well -- >> jason how many of your -- of your customers or people who play do it professionally like that is their job. >> oh, very, very -- i mean a fraction of a fraction of a percent there are people who are good enough to do it professionally, but it is like .01% of the people playing, most people playing, playing for fun same people, that are competing, in season long leagues with friends, coworkers. >> holiday are you, by the way? >> i am 34. >> is -- is sorry i didn't mean to put you on spot with that i obviously into millennial generation is mark zucker berg your idol are you watching his sets? >>, of course, mark is -- amazing, i mean talk about -- some -- >> how could mark not be, look what he has done, he did it with vision, which is really what any entrepreneur wants to do a big vision, and to be able to have good fortune to
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create that like facebook all about customer experience all about getting people to spend as much -- >> admit it! making money. >> i wish i could tell you that, but you know -- >> the money -- >> jason robbins good luck with the season good luck draft king fantasy football next hour 10 years after one of the most devastating natural disasters u.s. history hurricane katrina with former fema director michael brown.
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sandra: quite a week on wall street we get to see how it all ends, today it is friday, and he we've got futures pointing to triple digit loss on you why on open this morning, dow futures off 1234 points, good morning, i am sandra smith maria bartiromo has the morning off, it is friday, august 28, and with me this hour fox business dagen mcdowell, wall street john
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busey, sirius xm host, david warmed up futures pointing to a lower open u.s. stocks dow futures pricing in a triple digit loss on the open, this morning, right now, down 135, we are an hour and a half to the opening bell on wall street. we are also watching oil prices, a huge story there with crude pricesing soaring 10% to close yesterday, right now oil, is trading just slightly lower off 12 cents at 42.44 a barrel. china stocks higher shanghai composite rallying 5% with 150-point gain there -- fed president bullard saying moments ago that effect of china slowdown on u.s. inflation will not be that big. he says. nikkei also higher in overnight trading 560 point gain, in japan european markets opening a short time ago, the early action, showing weakness across the board, the ftse in plobd cac in france
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all down to the dax in germany leading to the downside, three-quarters of a percent loss facebook a major milestone, this week, we were talking about it ceo zuckerberg writing in a post monday one billion people used facebook first time that happened in a single day, that means, one in seven people around the world logged on to the site. >> there has been an awakening. ♪ d . >> "star wars"' fans in a forensics over that short teaser that dropped yesterday instagram latest in a stream of clips of incredible marketing campaign leading up to december release of the focuses awakens projects call for a record 600 million dollar opening weekend for disney, oil a huge story this morning, crude coming off
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biggest one day gain in more than six years, and the energy sector leading the gains yesterday, seeing its biggest one day gain in almost 4 years, phil flynn in pits of cme with more, phil watching oil watching the oil sector as pertains to the stock market what are you watching this morning. >> i am watching the mood sandra you can tell the mood is changed in oil by market today even though up -- oil prices down 12 cents right now 18 cents right now, down 22, we're not seeing the market as sniff to what we saw in the stock market the last couple of days, this was a market where everybody wag selling every rally selling every rally push it down push it down push it down now with stock market being relatively down bears are unable really to follow the stock market move down to me that is a sign that there is a little bit of strength bears slapped yesterday a little bit hesitant to, step on short side once again. >> all right, phil we will watch watch it oil right now down above 40 dollars a barrel
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big number to watch 4233 right now a big rally that we saw, at the end of trading yesterday. all right meanwhile, david we're seeing oil soars yesterday the price the pump falling down 12 cents, from a week ago, price for a gallon of regular, 2.51, at the pump consumers didn't enjoy this -- a little bit especially headed into labor day weekend people piling into cars, filling up gas tanks, maybe enjoy a little bit of a lowe gas price. >> we see this news before the big travel weekend, this goes back decades, transfigurement areports what is going on great for the consumer confidence, visit grandma would with friends energy to me, and to my listeners big picture i try to get people to educate themselves on roll of energy in your live petroleum isn't just every product tv watching the devices -- everywhere, in your clothing.
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you know plastic petroleum based properties the feeling is i have got lower price at pump that is only good for parts of your life, the cost of winter fuel, the cost of buying a computer the cost of buying a new tv, the cost of buying clothes for the kids, the "lunchbox" think about all these things, jrj goes into it and we need in this opportune to go beyond gas pumps start looking at big picture. >> all right, and expected to continue, phil thank you for sthegd light what is happening in oil markets this morning donald trump he holding a commanding lead among likely republican prior voters dominating the gop presidential field in recent polls vote fors have to wait longer for specifics on some of his policy positions, think of it in some spfz on campaign trail, in south carolina last night, trump took the same to tackle one major issue his hair.
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>> i don't wear a toupee, it is my hair! i swear! come here come here come here. come here. we're going to settle this -- >> look. is it mine. >> it is. >> it is. >> say it please. >> yes i believe it is. >> thank you. >> i got to tell you the real finish part of this for me let's have fun with this to politics it is people can't stand the fake looking hair on politicians they've got it come birthday right way maybe donald if nothing else showed having fun with it beyond that -- >> everybody comes down to hair. >> get over it whether it is or plugs -- his hair. >> just sculpture of like -- blown out it is -- i think. >> donald trump has hair. >> styled very interesting way. >> all right -- >> smile after she said. >> a lot of would, to get in
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place like in a i'm sure. >> i wonder if he does it himself. >> now there is a good question. >> another skill. >> mine is done with gillette. . >> competitors taking time. tackle some major issues presidential candidate he scott walkesh expected to affair foreign policy vision, in a speech later today, joining us now, is ed ghostsenior advisories to walker's campaign what are the specifics out of your campaign, sir? >> well, i think you are going to have, scott walker address in very honest way what he feels the threats are to this country, that he is going to ask a very simple request are we safer today as nation than we were seven years ago. and i think the answer to that is a resounding no. and so he is going to talk very directly about the -- the past seven years, of the obama-clinton foreign affairs
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policy that basically avoided the problems led from behind abandoned many of our allies and in fact appeased many enemies that we have in this world. >> more specifically, going to bring it down to really sees the real threat to our country in the safety of our country as radical islam a business show on business channel i want to take the economics of foreign policy and put intoitsdz, we have interests around the globe we have -- if economy, you know the economy is foundation in the nation, and if you don't have a good economy which you can't afford your foreign policy you can't afford your military. what you just said, ed with all due respect i interview all these guise talked to governor walker i think has some good points out there but they've got to get into effects on american people our allies interests everything you say they are all saying what about economics of foreign policy national
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security. >> you are going to see some of that articulation today, particularly in terms of relation with china, as you know, he called for earlier in this week, to step down, from back away from the state visit of a headed of china president of china. and i think a lot of that is a combination of -- what we see, many of these countries doing, in terms of not only impact on free trade but even fair trade. and -- and that very much comes into play. but you can't ignore the fact that in this country, in terms of the pleebeliefs of american people they are anxious whether economy is taking a down turn the growth has been very anemic, at best. but they are also very -- very anxious over terrorism has impact how american public
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views -- >> specifically, though we look at a case where a president obama is going to cut 40% of the military, military pay, the cost of paying our military is one of the biggest issues when it comes to that part of our society. so what about dealing with those issues what about military procurement this is all part of our foreign policy, and the foundation of how we conduct foreign policy. >> and -- and wiflts you will see him talk about today in fact he is speaking of the -- at the citadel to cadets kind of future warriors if you will for this country about the need to retool to really put a focus on rebuilding our military, in a way that gives them the tools to fight what fights we need to fight in the future. >> "the wall street journal" john is here. >> right now, donald trump's running away with this, running a populist campaign, you saw the is it sthick with hair peeling to population, he is -- engendering followers
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you are talking since and issues what happens to this campaign does republican party apparatus move from a donald trump because he is not talking about the issues as much? or does it say hey, this seems to be appealing to the public, this is going to be our guy who goes against the democrat? >> no, i think at the end going to come down to the reality of middle class in this country is very huge, it is about 07%, 71, 72% american public. would have the benefits i think i have always scene qualities i have seen, in scott walker is that he is middle class that he has a lens on all problem solving he puts through that middle class lens. in terms of polling i'm not getting intoing back and forth of the polling. >> at this point saying the message is different, donald trump is learning that the way he is public sector his message across, is reaching the american people, it is
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working he is making it exciting again. and i guess challenging on scott walker, it can he do that as well, unfortunately we are ring out of time, but you know that is a question that a lot of gop said to are asking of the other candidates, can you raise the energy level to match that of donald trump? he is getting everybody excited. >> you can say donald trump keyword is entertaining i think american public at this point is being entertained by him, not necessarily in -- >> all right, ed thank you very much for joining are us this morning. >> thank you. >> enjoyed having you, tesla sets a new recorded 2015 model s, about initially highest raids vehicle he tested by consumer reports breaking the ratings system high rating bagsted tesla stock more than 8% has been on a tear that will last the big headlined investors give tesla rave review in the "the wall street journal" other headlines watching this morning, in the "the wall street journal," uber china to close to new funding about 1 billion
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dollars, in investors in the region, selling a home for 100,000 dollars over asking price home prices go i ballistic in san francisco. and india lurks goods new patches of welt outside megacity keep it right here on fox business ♪ ♪ at at&t we monitor our network traffic so we can see things others can't. mitigating risks across your business. leaving you free to focus on what matters most.
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. sandra: welcome back new developments at this hour in investigation of how over 50 dead bodies with trptdz to the italian port city of palermo or i cheryl casone with the latest. cheryl: developing this morning sandra that is right picking up on details out of italy italian authorities had detained 10 people of suspicion of mill homicides, aiding illegal immigration after 52 migrants dead in a
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hull of a boat police held suspected after swedish coast guard ship riverside at sicilian port carrying victims and hundreds of survivors. >> take a look at pictures from dominica high behinds flooding erika claiming four lives already making its way through caribbean this weekends, expected to hit florida, this monday. and, finally, a new report, from researcher idc, estimating that apple shipped 3.6 million apple watches last quarter, beating most estimates, that i gos apple second only to fit bit sold 4.4 million, dagen mentioned that last hour, look when apple launched ipad in 2010 sold 3.2 million -- gotten numbers on the watch from apple, that is the big news here, is that not only is out passing ipad iphone in debuts, but we still the would say we have surpassed our goal all he
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said to us. >> you know he this is the birkin stock effect you create a market apple does it, dagen you with me birkin stock effect we suddenly don't have apples not telling what you we are selling people want it. >> birkin stocks flat hippy shoes we are talking about birkin bags. >> i can't believe that you -- -- you are taking about, about if you -- >> when did we talk birkin. >> birkin stock a difference. >> i am a guy. >> those that wear birkin stocks never say don't look meet i think there is shoes on the planet. >> -- dagen -- >> yeah. >> all right, so the apple event to be new iphone at least 6s 6s plus, the small iphone not expected to debut at this event. >> right. >> but going to update, the -- >> the camera, probably he the
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kraeshl has gotten best ruse of any smartphone in the world iphone 6 plus. >> upgraded to the apple tv, i still don't -- anybody hear about -- >> do you? >> we both do. >> i have every device on planet, i have an apple tv. >> fancy people. >> no it is -- >> redneck. >> fancy. >> i am -- >> on pace -- i am afraid of aging out of the gadget culture you have to be careful as you get older that you lose touch with in lieu offest technology or you no equivalent of using a commodore 64 today ch. >> we will be watching cheryl thank you coming up 10 years after one of the worst national disasters, in u.s. history, new orleans continues to rebuild, we are joined here next by former fema director michael brown on where we went wrong, and the lessons lender, stay with us. .
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out in politico titled stop
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blaming me for hurricane katrina. from your perspective, about those michael, as we look at 10 years post katrina, what really happened? >> you know, the first major tipping point was about 72 hours prior to katrina making landfall i reached out to the national hurricane director said i can't get them to evacuate new orleans, would you sound the alarm bell explain exactly how catastrophic this can be, that fell on deaf ears i called president bush, in crawford i said mr. president i have a strange request i need you to call mayor use your presidential bully pulpit to try to convince the mayor of new orleans to evacuate his city now down to 48 hours the president was kind of surprised by that i said well, i am series i need you to do it, so the president did, he killed a mayor, and down to 48 hours, and then finally, on sunday, sometime between 10 and noon on sunday, governor
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blanco and mayor go in front of the cameras and basically say, you know you really ought to get out of town probably time to evacuate, well d'anjangt too late stormy made land fall 4:00, 5:00 that morning we had 10, 20,000 people in the superto come, but for the failure to use the planes, the trains, the buses, the failure to use those to get those people out of there is what created man-made disaster. >> stories personal to me, having graduated from lcivilitiu in baton rouge a couple years prior to katrina had so many friends, and family members, and families i was close to involved in affected by katrina i know so many have those he personal stories, as we look at images still so difficult, so fresh in our minds, as you look back at pictures he michael what is your biggest regret, about that day?
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>> my biggest regret is there were two things that i did that i wish i had done better, is we couldn't bet the mayor the governor to order the evacuation, remember 10 years ago we don't have fox business, we don't have a lot of the outlets we have today but went on every cable show i could find tried to encourage people to evacuate, what i really should have done is gotten on the plane then and gone straight to new orleans, and screamed it from the city of new orleans, and maybe people would have paid attention that had not point i think here aguy d.c. trying tell people get out of new orleans yoifrnth had affect that it did as we got into the storm, and -- i don't know how to explain this, it is -- with creation of the department of homeland security, i now had an additional layer of bureaucracy on top of me as would i ask for would i execute a mission assignment that said to department of defense, you know, bring me
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x-number helicopters, amphibious equipment slowed down in bureaucracy, i should have stood at the podium said publicly i don't foe what the hell is going on in washington, d.c., but i had needs to stop, and these cabinet secretaries need o get off their butts start doing what i asked for probably would have gotten me fired but would have been the right thing to do. >> a few seconds left if you could say where we are today, in the recovery effort 10 years later. >> we should not be surprised, that we have not covered that recovered that, this massive bureaucracy, all the rules and regulations that we have, all of the red tape, is what slows down recovery, look at new york, took 10 years to rebuild, you know, the freedom tower, we've got to can you tell red tape out of the government. >> michael brown thanks for joining us 10 years later after katrina, we will be right back dow futures currently off triple digits.
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. sandra: wild swings to end this week. a long one oh, my gosh look gratuities 1u7 08 points triple digit move to start off friday morning, welcome back i am sandra smith maria bartiromo has the morning off. it is friday, august 28 with me fox business dagen mcdowell, "the wall street journal" john, and sirius xm host, david webb futures right now pointing to a low other open u.s. stocks dow futures pricing in triple digit loss on open just about an hour away from that opening bell on wall street. we will keep watching it for you, meanwhile, oil prices, another big story this morning, crude prices, surging 10% yesterday's session, rising above 40 dollar mark oil prices off a bit, 34 cents still holding on to 42 dollars. china stocks higher the shanghai composite rallying
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5%, nearly 150 point gain, nikkei japan seeing a rally european markets opening just -- sorry midday trading now, the ftse is off a half percent dax in germany leading the way to downside off 56 points, facebook hitting a major milestone this week, ceo mark zuckerberg wrigin a blog post on monday one billion people used facebook first time that happened in a single day. that means one in seven people around the world, logged on to the network. >> we've seen an awakening [dark music] ♪ ♪. >> all you "star wars" fans you are in a forensics over short teaser that dropped yesterday in instagram the latest in the stream of clips of an incredible marketing campaign, leading up to decemberries of the focuses awakens latest on the movie call for record 600 million
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dollar opening weeks, for disney back to markets this morning, the panic-selling that swept global markets earlier in the week has given way to some stabilization, and gains with dow seeing largest two day-point gain in history, over the course of wednesday, and thursday trading session, futures right now pointing to a lower open we are well off the lows of the session, as we speak, the losses now just double, off 96 points, ubs chief commitment harris thanks for joining us i don't want to say, yeah wow what a wild week it has been we can all acknowledge that, but everyone is trying to figure out what happens now, of course, big question will people hold to know poths into the weekend so much uncertainty, but are people going to have the appetite for risk after this week. >> i think the appetite for risk has a lot to do with what is happening in the u.s. economy, the news on u.s. economy. i think the most important thing that comes up next will
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be employment we think up 235,000 unemployment compensation down from 35.3 to 5.2 what will move this market this week a strong durable-goods orders report for july, a big upward revision to second quarter gdp. >> you say drop in unemployment rate calling for headlined on unemployment rate to drop to 5.2%? >> that is radio it. >> is that a real indication, of the -- the economic that employment irin this country? does that represent where we are at as far as jobs. >> well, i think what better represents what is happening, is the payroll survey, what it happens to payrolls we have been adding over 200,000 jobs a month to nonfarm payrolls that is pretty healthy a lot of labor markets get tighter based on anecdotal evidence, it is not showing up, yet in
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wages but probably will. >> that is 3.7% quarterly, gdp number. that was a nice number, that is not a blowout 4 or 5% but a very nice number compared to what has gone previous. >> first. >> in u.s. economy, is that something that ubs is expecting, is now a trend, or you know a little bit above or below that? is a trend? or was that for some reason in your mind, an anomaly. >> that second quarter was a tough act to follow, growth wise because part of it was a rebound from a very weak first quarter when we had terrible weather. having said that, i think we can have something between 2 1/2 and 3% growth over the next few quarters. which is healthy enough for the central bank to normal, normal normalizing interest rates. >> when. >> i think a 50-50 chance they do it in september meeting i think that -- there is much, much better than even chance that they do it before the end
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of the year. >> do you think that you will hear anything from stanley fisher tomorrow out of jackson hole any greater indication beyond what bill dudley has said. >> chairman of the fed. >> right vice chairman of the fed about maybe not moving in september. >> i don't think the fed people want show the their hand until they see the employment numbers. >> okay. >> all right. >> that is going to be critical. >> good stuff thanks for joining us this morning be sure to check out the book inside the crystal balance how to make and use radius foshgz, we've got a lot more coming up, and coming up in hillary clinton longtime aide, the center of another brewing clinton controversies, mr. ed henry is gearing up putting on the microphone going to join us live from the campaign trail, that and a special appearance from rick harrison coming up next. you are looking at two airplane fuel gauges.
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. sandra: we've seen the interaction a lot this week univision reporter jorge rom as going at it with donald trump bring in fox news chief white house koerntd ed henry from the trail in minneapolis, it is great to have you this morning, ed. this is a first chance to talk to you, about this your thoughts, sir. . reporter: well, yeah, the jorge ramos situation getting a lot of notes on social media because last week i had that back and forth with hillary clinton on campaign trail in las vegas, to her credit, she answered my questions, we went back and forth might have gotten tense she got heat
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after obviously for making that joke about wiping the server with a thank youel saying she system didn't know what i was talking about in case of jorge ramas the reasonive been getting tweets people wonder what i think as reporter at white house, normally sometimes getting in the confrontations as to who are ray ramos being kicked out certainly that never happened to me, at the white house, i think, donald trump realized quickly he should get jorge ramos back into the room which he did and then again to his credit as i gave credit to hillary clinton he faced the music, took jorge ramos' questions what candidates in both parties should be doing at meeting behind me in jafrp expecting sfeechz, they are all expected to take questions from reporters after as you know, hillary clinton has not done that throughout the the campaign we have gone long stretches without her doing that, i think, clearly, when so much is at stake in this election democrat republican independent green whoever
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running for president a lot of candidates should be taking questions. >> rhetorical a huge part of this at this point, in the campaign -- hillary clinton, making big headlines yesterday when she compared gop to terrorist groups. >> yeah pretty rough talk, i mean, you expect something like this maybe in the final weeks of a general election when it is getting down and dirtied, nasty certainly not this early. why is it happening, first of all let me give you context talking about policies toward women, creativing marco rubio about aborticriticizing about planned parenthood fund whering she said campaigner expect from terrorists not candidates for president why doing it early in trouble with e-mail fiasco trying to rally left get so-called war on women rhetoric going because at meeting behind me as i said she will be speaking joe biden is not guess what, the draft biden people are here, trying
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to rev up support for joe biden she knows she has to stop bleeding. >> getting so fun you are doing a great job, hey -- good time good tie this morning. >> thank you. >> great to have you sir, joining us now is rick harrison star of -- a successful businessman great to have you this morning. you are a supporter of senator rubio, as we ins it your thoughts an what we are seeing on the campaign trail. >> yeah absolutely love rubio it is so many things that he is doing that other people are not doing, the whole education thing, where we have you know, kids come out of college 300,000 dollars in debt he wants to change a lot of things about that he wants to -- you know we need vocational schools in high school. >> have you met him personally. >> yeah met personally a few times. >> uh-huh, specifically you like his ideas on education -- with when did you start
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throwing support behind him? >> i had -- breakfast with him just happened that i was in l.a. he was we had breakfast, he deeply impressed me compared to any other politician i met with. >> you are a biggest businessman you employ a lot of people, do you like his policies on the economy? and, if so, what do you like about them? >> i mean everything, it is listen, i do really well in life, and with i am you know if i can take my money and pay in taxes to the government, or i can invest it in things make jobs, and he gets that, it is -- you know, it is all the regulations everything else, you know. i am a history before you, quite frankly look through history every country easy to do business, you know people have worked their way out of poverty, is it standard of levying has gone up. >> i want to ask you quickly if we watch wild swings in the stock market this week what are your thoughts on that that
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has a big deal that has a big impact on the consumer which you depend on soap at pawn store your take on markets. >> it is the insanity of regulation, and in washington you know tons of regulations that i can ma it hard to do business you have the federal reserve, lower triple digits to zero to compensate for the what federal government is doing, and just a mess this is what you get out of it. >> crazy markets. >> i am doing great. >> good to see you tax policy rubio has not come out with a lot on his tax policy you've got guys like steve forbes pushed flat tax where do you stand on tax and rubio in these candidacy. >> rubio want to make it 25% tax on pass-through money, you have an llc, 25%, we need to lower he wants to lower corporate tax rates we have highest corporate tax rates in the world. and like i said it is pay money to the government, who
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you know, let's face it they waste it, and/or you give it to guy like me i will build another shopping center. it is that simple. >> if i could keep money i will spend it invest it. i am not just going to blow it on something. >> rubio, appears to appeals to the hispanic vote republican party is keen to get. this time around, in the election. donald trump ail ylienates the hispanic vote do they castle each other out or does republican think rubio viable alternative for us begin to put him food are, so far he is nod leading the pack. >> first of all, the press is giving trump so times press as anybody else, i think -- listen, i i don't see voting for tumble more or less voting
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f hillary so many will negatives i don't think there is any way he could win in general election there are a lot of things trump says i agree with i really think he empathies to go wash out in the end, generally, the high flier this early in the race does wash out. >> we've got to go how is the pawn business. >> everything is great i got a shopping center opening next week, and -- a million other things. >> all right. >> thanks for joining us. >> bydestiny futures a triple digit loss ahead of the open following yesterday's big rally, what is going to happen where -- an hour away from opening bell keep it on fox business. i'm only in my 60's.
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federal reserve under way in jackson hole wyoming our peter barns out there gets the scoop, what do you have now? . reporter: hi sandra thanks joined by a special guest, familiar to our viewers on fox business, fox news channels the former president of the federal reserve bank, of philadelphia, he is out here the conference, charlie, a lot to talk about here with all market volatility, if you were still at the fed you had this meeting coming up in september what would you be doing, or thinking about as far as starting to raise interest rates or not. >> i don't think any of this changed my view at this point. the fed -- it data dependent still three or for you weeks before meeting more data to come in, at this point i don't think the volatility is itself is a reason to move or not move rates as case maybe, kind of depends on your outlook for the economy over the next three weeks how that changes or if that changes, a the all. >> but you also have china in
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the picture here, potentially, and the fed says it is watching china, international developments combined with volatility, we've been hearing some of your former colleagues bill dudley new york fed that perhaps, the fed should think twice about starting to raise rates. >> 3 or 4 weeks to think about this, and assess what impact of all this will be on the u.s. economy. we've known china was going to slow down quite sometime this is not new news. and so, i think that right now, i was not changed my outlook for the economy over the next year, and i don't see the volatility itself is going to be driving that i think the assessments going to be how is the committee forecast going to change. >> so you yourself would wait and see at this point. >> well, we're not there yet so -- no choice but wait i think it would be highly inappropriate for the fed to consider you know, announcing
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in advance it is not going to move there is no evidence or data compelling in that direction at this point. >> hold that thought sandra we continue our discussion with charlie, and we are going to post that as a web special, on fox business.com, later today. back to you. >> great stop good to have him here as we anticipate that first rate hike, thank you very much, sir with futures lower we head into final thoughts, with our panel right after this you are looking at dow futures off 101 points, just about 40 minutes to the opening bell. technology empowers us to achieve more.
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if you listen to the entire program today. you would probably come away with a calming feeling to things and that's it's not such a bad picture up there. and we had the former philadelphia fed president on. who says, let's wait and see, let's see where things are going. we're not surprised by china and knew that it was slowing down. no big, you know, concerns there. katie stockton, the technical analyst talking about, we probably hit a bottom, her expectation is that that was it. we'll be testing it again, but it's kind of, you know, up-- >> it's not a whole lot worse from here. >> exactly right. sandra: maury harris, a chief economist expecting a good employment number coming out in a few days. overall, it's a vibe that the
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u.s. economy isn't doing so badly and that we're weathering through some tough feared -- period and what we've seen isn't a precursor to going off the cliff. sandra: dagen. dagen: the exchange traded fund people are blaming investors on the price, they got on monday morning, 30, 40% in cases that were supposed to be safe. it's across the board and the most disgusting thing. if you're one who lost money, you should never buy another etf ever again because they're not standing up for the customer, they're standing up for their industry and themselves. >> mark regulators are looking at this, it's becoming an issue. dagen: people need to step up and making a stink about it and pointing some fingers. sandra: you've been highlighting that for us all week, dagen. and david, you're watching what? >> i'm going to main street on
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this. when maury harris talks about the unemployment numbers, main street feels a different picture. 5.3, the real unemployment rate is double that, look at u-6 numbers, but how do you rebuild the economy, the middle class, that's the engine that drives us. let me tie this with katrina. and education is a part of growing. sandra: ten years later, by the way. >> ten years later, we have public schools where two in every three schools, two out of three schools were deemed failing. they transfer most of them into charter schools. they now have high graduation rates, they don't have attendance zones and i've been to new orleans, a lot of times i go there a few times a year. it's growing. people are capable of growing into the middle class and becoming productive members of society. we talk about the markets, that's all important. and everybody's in the market, whether you buy a product or you in some way in your 401(k), your retirement, but on main street you've got to grow the middle class and in america
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that's how we build america. sandra: bank of america out with this note today showing that with monday and tuesday's big selling, investors pulled a record amount of money in the stock fund in wednesday, signaling what they call total risk surrender. equity funds saw 29 1/2 billion dollars head for the exit, the largest weekly outflow on record, citing data that goes back to 2002. it's a historic week for the markets and we haven't opened for trading on this friday and looking at triple digit losses on the dow right now. so it's going to be another big morning with dow futures off 110 points. we'll see where things go. i don't know. could end higher, i don't know. >> how do we recapture the 1.4 trillion in loss. dagen: my final loss is watch the mtv music awards and miley cyrus is hosting and you never know what she'll do and put your own life in perspective. sandra: you never know. oh, my gosh. [laughter] >> dagen mcdowell always with
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the last word there. thank you, and john and david webb, great to have you on friday morning. it's now time for "varney & company," always entertaining, stuart varney, it's all yours, sir. stuart: thanks, sandra. whoa, what a week! wild markets, hillary looking desperate and now trump's hair? i'm so glad you could tune in. good morning, everyone. let's get serious because we're talking first about your money. the dow will open lower today, but that follows a two day, 900 point gain. who knows where the dow will close? i can tell you this for sure, the price of gas is tumbling, now dropping 2 cents a gallon a day. i'm planning a long labor day drive. and it's friday, august the 28th, a very big day for hillary clinton. and after calling republicans terrorists, she is meeting with her party's power brokers, she needs to convince them that her campaign is in good shape and they don't need j

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