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tv   FBN AM  FOX Business  February 24, 2017 5:00am-6:01am EST

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breaking news this morning president donald trump take center stage at a gathering of conservatives in washington this morning. vice president mike pence speaking leslie promising to end the nightmare of obama care. the markets focus on washington policy after steve mnuchin said he expects a tax plan by august and annual growth of 3%. they rallied for the tent close in a row and it's up about 1% this week. let's check in this morning. does this rally have legs.
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>> in asia stocks fell in japan. the index down half of a% to big investors in the bar blasting the company. the investors calling the culture at huber toxic. after person posting the profits. there also reporting numbers from jcpenney's this morning. gonzaga tramples in san diego. we will have highlights for you. it's 501 a.m. here in new york. welcome. here is the a latest breaking news. president trump is set to address the annual conservative action conference. he will be the first
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republican to do so. we will be bringing you his comments live starting at 10:00 eastern. let me assure you america's obama care nightmare is about to end. despite the best efforts. the american people know better. obama care has failed. talk about your fake news get all the promises liberals made about obama care. president trump is now giving a very public boost to the border adjustment tax.
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the controversial proposal he once called to complicate it could complicated could lead to more jobs here in the u.s. blake burman has a latest from the white house. >> the white house is not yet throwing its full support behind the border adjustment tax. however it took a small step in that direction on thursday. president trump gave an interview in which he said the following. it could lead to a lot more jobs in the united states. sean spicer then follow followed that up by talking up its merits. it will be the companies were overseas who had chosen to move out of the country that will face higher costs. they spent hours at the white house on thursday with top administration officials. others offered their
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reservation. the official tax plan is expected to be unveiled next nth in uoming weeks. meanwhile in mexico city. secretary of state rex tillerson sought to smooth strained relations. >> in our meeting we jointly acknowledge that in a relationship built with vibrant cut --dash colors. they will have differences. contrary to reports they would not be used to police the border. let me be very clear. there will be no mass deportation no use of military force in immigration operations. kelly's assurances come after president trump described his
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new policies as a military operation. in the investigation into kim jong own. he was killed by a nerve agent. it's classified as a weapon of mass destruction. they had coded their hands with the agent and then wiped them on his face. one of the women got sick just from handling. it happened at a malaysian airport last week. authorities say four other suspects are believed to have already made their way back to north korea. david visa free agreement from north korea. in asia stocks that were mixed taking a look at right now. it's very small for the shanghai composite. you see hong kong stone almost
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two thirds of 1%. taking it over to european stocks. is down by 16. the loss deepened. they's dropped to a night annual loss. let's take a look at usa futures today. it's been a phenomenal run. up to ten days in a row. closing at record highs. it could be number 11 today if the few shirts reversed themselves. up to the week. it's done a hundred 86 points to the week. for the week. that is nice news. oil data showing that u.s.
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stockpiles rose. oil down 32 cents and 50 cents. gold up $5. the self driving car unit is suing huber. the former employee downloaded 14,000 confidential files before he left the country last year. it's quickly acquired by uber. they're accusing uber of using some of that technology. huber comments on the story say saying we take these allegations meets against auto and uber employees seriously and we will reveal this matter carefully. to venture capitalists signed. this comes after huber opens an internal investigation. those investigators include
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the former u.s. attorney air cold or who has been working with huber since last summer on another matter. they released a statement saying they are conducting the review with the highest degree of integrity. the retailers are back in the spotlight. they rose about 3% after hours. this after they be estimates of quarterly earnings and quarterly revenue. there was no effects from the angry donald trump tweet. they met the expectations sales were slightly higher to. there certainly watching shares today. and looking for jcpenney to continue to trim losses and
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improve sales as turnaround efforts do continue. the stock has been hitting multiyear lows around $7 per share. to give you perspective back in 2007 jcpenney traded at a high of $87 per share. a lot of shareholders wiped out with this one. they are cutting hundred 30 jobs mostly at the headquarters in illinois. it's part of a recently announced a restructuring plan and carry at least a billion dollars a year in costs. the job cuts were needed to make the company more nimble. the stock is down nearly 15% just this year alone. here is a look at some of the headlines in today's -- in today's edition of the wall street journal. the language critical of a global climate deal. it was struck from an
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executive order. coca-cola it needs to be more than just coke. the chief operating officer will take the reins in may. the company must speed up the development of probit -- product cycle beyond soda. the increases are there. the supplies are struggling to keep up with all of those demands for planes. fourteen nominations. they have won nearly all one nearly all of the award shows leading up to the oscars. they will have some tough competition though.
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and natalie portman for his -- her betrayal. denzel washington is expected to win best actor for his role in the film fences. it has been indicator of who will pick up an oscar. utopia has a good chance of winning at the the oscar for best animated feature. several winds and other award shows. any kind of indicator here. you can expect the oscars to get political this year. so we will wait for that. and we will bring you what we hear. we will show you all the big highlights and probably some other political moments. they continue the record run.
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another 1% this week. the trump economic plan is a major driver in the market. >> the markets are up very strong since trump has become president and you can see both the dollar into the stock market. it's a huge vote of confidence. and we will get an outlet for the markets. in checking at the u.s. stock market futures. we are looking at red this morning. s&p falling back three. you're watching fbn and. stay with us. when you have something you love, you want to protect it.
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at legalzoom, our network of attorneys can help you every step of the way. with an estate plan including wills or a living trust that grows along with you and your family. legalzoom. legal help is here.
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>> welcome back. it's 5:15 a.m. here in new york. donald trump set to take center stage. i theme that appears to be now or never. vice president mike pence took the stage last night. the obama care nightmare is about to end. foxbusiness will carry the life at 10:00 a.m. this morning. police say the chemical substance was upbeat and nerve agents. he is the half-brother of north korea leader. the stakes in the case that have already frayed diplomatic ties.
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the stock to watch. it reports its latest earnings in the stock has been flirting with multiyear lows. it hit record of $87 per share and it's now down around $7 per share. the stock is prone to big moves. have of the opening bell. that is what is happening now. >> president donald trump is a fan of foxbusiness. s&p 500 edges higher after they were renew the jobs pledge. they did write a tenth of 1% yesterday. and they closed at a record. let's talk about this in more. hey gary happy friday.
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i can't believe it we've had ten straight record closes for the dow. can the market just keep going up. >> does seem like once a donald trump was elected i think everybody needs a break right now. i like a lot of things that he's done. i do think the administration is right. a lot of the stock market rise is due to what he's doing and what he will be doing. the stock market needs at least a pause, i don't think it needs to go back below 20,000. that was kind of the breakout level. i am predicting for the next side we -- next few weeks because sideways. >> there is just too much good news out there that hasn't been put into stone. i think everybody is expecting
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it. we have not seen a solid move on obama care. we haven't seen anything from on what they are going to do with cutting regulations yet. in texture form. those are the three things right there. what will drive the markets. i do think tax cuts. i don't think you will see anything though until later this year. and he gets more the expectation the other thing that people tend to look at. is what the fed is going to do it next month. if they raise rates if they don't raise rates i think the market could go up even further. the treasury secretary told
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maria yesterday the tax plan you will see it by august when his gimp gets implement it were not entirely sure. does it outweigh the fact that interest rates could not only go up next month to go up two additional times this year. i think you actually nailed it. they downplayed the effects of the rates. the only time fed raising rates as if they are behind what the economy and the market is doing. i don't think the economy is all that strong. the tax cuts will propel that. i love the optimism. cesium. in sports the golden state warriors golden state lawyers come back to dominate the clippers and the number one
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gonzaga tramples san diego. we will have the highlights. across the nation. take a look at u.s. stock market futures. you're watching your first look at morning markets and breaking news. the future of business in new york state is already in motion.
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companies across the state are growing the economy, with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at esd.ny.gov i'm going to the bank, to discuss aortgage.? ugh, see, you need a loan, you put on a suit, you go crawling to the bank. this is how i dress to get a mortgage. i just go to lendingtree. i calculate how much home i can afford. i get multiple offers to compare side by side. and the best part is... the banks come crawling to me. everything you need to get a better mortgage. clothing optional. lendingtree. when banks compete, you win. okay! ...awkward.
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>> welcome back. let's get you caught up on global actions from the market overnight. from one and half year highs. here to look now.
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hire just fractionally. lower by one half of 1%. they are actually looking at what could be a weekly loss. it's down 19 points today. a quarter of 1%. the standard chartered down. the annual loss is the ninth one in a row. the question in new york is a will it be a straight 11th closing high for the dow. there is bread on the screen in new york. for the broader markets up to four weeks in a row. let's take a look at commodities oil and gold. gold have a really strong
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performance yesterday. that was interesting. >> is a let's take a look at the latest in the world of sports. they scored 50 points in the third quarter alone after trailing 51. they also capped the third quarter with a buzzer beater. in a new orleans the marcus cousens and all-star game. a match for the houston rockets last night. hundred and 201999. i didn't expect any championship. we see what we need to work on. cousens finished with 27 points and 14 rebounds in his pelican debut.
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they were beating san diego by 58 points. the only unbeaten team in division i men's basco. they each scored 15 points. coming up president donald trump expected to take center stage. vice president mike pence revved up the crowd there last night. it's crushing the american people. talk about your fake news look at all of the premises promises liberals made about obama care. as it reports its latest quarterly results. is it working. another all-time high yesterday. s&p down three.
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were taking a first look at your morning markets and breaking news.
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breaking news this morning president donald trump taking center stage at a gathering of conservatives in washington later this morning. vice president mike pence speaking less and promising to end the nightmare of obama care. good money. the markets focus on washington policy after treasury secretary told our maria architecture roma bring it on. it was its tent record close in a row. up three weeks in a row. the futures giving some of the games at back of this morning. and in asia stocks fell into
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paint in japan. in china the deposit ending up just fractionally. two big investors in uber blessing the company. they are calling the culture toxic. they had shares on the rise. they also report numbers in jcpenney's due out this morning. the golden state lawyers come back to dominate. in college hoops the number one gonzaga trampling san diego. welcome. your first look at what's moving in today's markets. president trump is set to address the annual conservative political action conference also known as c pack later this morning. we will be bringing his comments life. vice president mike pence
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rallying the crowd for trump's agenda. including appealing obama care. >> me assure you that america's obama care nightmare is about to end despite the best efforts of liberal activists. the obama care has failed in obama care must go. it is crippling the american economy. talk about your fake news. just look at all of the promises they made about obama care. he also touted his plans to strengthen the military. and present trump is now giving a very public boost to the border adjustment tax. the controversial proposal he now called to complicated could lead to jobs.
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the white house is not yet throwing its full support within a tax reform package. it took a small step in that direction on thursday. president trump gave an interview in which he said the following of the border adjustment tax. it could lead to a lot more jobs in the united states. the press secretary then followed that up by talking up its merits. it will be a net savings. i will be the companies who are overseas who had chosen to move out of the country that will face a higher cost. they spent hours at the white house on thursday. some of the ceos expressed support for the adjustment tax while others offer their reservations. the tax plan is expected to be unveiled next month in the upcoming weeks. back to you in new york. meanwhile in mexico city secretary of state rex tillerson seeking to smooth
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the strain relation after he spoke with his mexican counterpart. we jointly acknowledged that in a relationship filled with vibrant colors to strong sovereign countries from time to time well have differences. in homeland security secretary he was also in mexico reassuring mexico that contrary to reports american soldiers would not be used to police the border. let me be very clear there will be no mass deportations. and no use of military force and immigration operations. the assurance came just hours after he described his new deportation policies as a military operation the white house then clarified that trump was only describing the efficiency of the enforcement.
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the half-brother he was killed by an nerve agent. it's classified as a weapon of mass destruction. they had coated their hands and then wiped them on his face. investigators say one of the women got sick just from handling it. it happened last week. four other suspects are believed to already have made their way back to north korea. they have a visa free agreement. let's get you caught up global action overnight. a fractional gain in china. it's down one half of 1%. each down two thirds of 1%. the banks are big losers today particularly in london.
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we been on a record run trying to make it. but that looks like it's not possible. it is a lowest they had been of the early session. they are now down to 49 points. up for the week. up four weeks in a row if the games continue. the nasdaq is down 17-point. here is a look at oil down by 26 cents. gold is higher by $5.50. and gold's run was pretty amazing. it was up $18 yesterday because of the reduced expectations. and also were seen turmoil in europe. so gold has been on a monster run lately. the self driving car is suing uber. the former employee downloaded those files before he left the
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country last year. when mel is now accusing them of using it as some of that solid information to develop a laser for self driving and navigation. this is what uber has to say about the story. we will review this matter carefully. also been blasted by some of the investors. they are slamming the company for hiring the toxic corporate culture. it comes after they open an internal investigation. those investigators include former u.s. attorney. they released a statement. saying we are conducting the review at the highest degree integrity. the retailers. nordstrom rises.
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they beat wall street estimates. there was no respects from an angry tweets. edging slightly higher. sales of 4.4 billion. and finally they are expected to post its results before the opening they are expected to post its results before the opening they will continue to trim its losses. the stock has been hitting multiyear lows. but if you go back a decade ago the height for jcpenney shares was over $87. sears holdings. the company cutting under 30 jobs mostly at the headquarters in illinois.
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here is the chairman and ceo. the job cuts were needed to make the company more nimble. the stock is down nearly 15% this year. let's take a look at some of the headlines in today's edition. at the request of white house senior advisor and his wife about the tram. coca-cola needs to be more than just coke. the current chief operating officer. he said the company must speed up development of products that go beyond soda. out there to the left. there is a glut that is stretching them to the limit. they are straining the supply chain.
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they can't keep up with all of the orders that the jetliners are getting. they definitely need toilet seats and engine parts. the biggest night let's switch over to that. they are this sunday. i would be tonight's big winners. they have won nearly all of the award's shows leading up to the oscars and was us yours top grossing movie. don't well have some tough competition out because also in the best actress category and natalie portman for his her betrayal of jacqueline kennedy. denzel washington is expected to win. washington one at the screen
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actors guild award. a good chance of winning the oscar for best animated feature. it has had several wins and other award shows. any kind of indicator here you can expect the oscars to get political. if you can't step for any of them are all of them. 210 in at 5:00 a.m. monday morning. and jimmy is hosting so it's sure to be entertaining. they continue the record run and up another 1% this week. the trump economic plan is the main driver. >> the markets are up very strong since trump has become president. i think this is a huge vote of
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confidence in the trump economic plan. we will get an outlook for the markets. in checking u.s. stock market features. s&p falling back five. your first look at morning markets and breaking news.
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>> tgif. let's get you caught up. said to take center stage. with the theme that appears to be now or never. vice president mike pence he took the stage last night telling conservatives that the obama care nightmare is about to end. it all starts at 10:00 a.m. this morning. stay tuned for that. the chemical substance used to kill kim jong nam was a b and nerve agent known as vx nerve agent. the news raises the political
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stakes that has already frayed diplomatic ties. in the markets the stock that were watching today could be retailer jcpenney. it has been flirting with multiyear lows about $7 per share. the hype for the stock was $87. it has come down a long way and it is prone to make big news. after the market overall. we've have it there. we do get new home sells later this morning. the existing one there. it was down 58 points a quarter of 1%. were seen the s&p down. it's also a third of 1%. not to break. but the following headlines from our website. they edged higher as their trump renews the job pledge.
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it did rise a tenth of a% gary b smith is here. welcome back. the markets have been very positive. steve mnuchin is saint august for tax reform. how will the effects be felt. it is a good point. i think we have a window of opportunity and maybe a month or two. they keep talking about plans in place to reveal obama care. i dig it's been good enough to kind of get the market to spirits up. it's late to be right. i think if we don't see something at least a proposal by april or may i know i'm going to start to get worried. the market probably goes may be maybe flat until then.
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if we don't start to see something i think the market could start to drift down. i'm worried every single day. i'm optimistic but i'm also the analyst air came out with a report early in the week and they said were at the maximum optimism in the market. it's his hope that we see all of these pro-business policies coming. at the timetable gets pushed back the markets will fall? >> yes. i think there is a lot baked into the market. there could be a lot more. the only thing the market hasn't seen as the downside. they bet on trump coming
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through with his premises --dash make promises. i think he is a new politician. they might be a little naïve on how long it takes to get things done. certainly we've seen nothing from a republican congressman yet. -- maximum optimism. maybe we will be looking back on that insane nothing happened. there goes the great integral spirits. i am hopeful and optimistic. he told reporters course they take a the ticket much more cautious approach. how much power it does a president have in this economy with his words. a lot short-term. almost none.
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we saw above bumped the other day when trump talked about jobs. it will be what the fed does. i wouldn't put too much faith in it. i think it is good advice for any investor. look for the concrete actions rather than the words he says. with the possible interest rate hike. i hundred 90 points away from dow 21,000. i looked at the market action yesterday. it looked a little weak. 21,000 would be a real stretch. i think were a couple of weeks away from that though. thank you for joining us.
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in college hoops number one gonzaga trampled in san diego. forget winter forget spring. here is a look at temperatures across the nation. your first look at morning markets and breaking news. when you have something you love, you want to protect it. at legalzoom, our network of attorneys can help you every step of the way. with an estate plan including wills or a living trust that grows along with you and your family. legalzoom. legal help is here. companies across the state are york sgrowing the economy,otion. with the help of the lowest taxes in decades,
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a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at esd.ny.gov
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the nasdaq is down 18. can you take a look at the latest in sports. a big second half to beat the la clippers. after trailing 61 to 49 at halftime.
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they combined to eight of the teams nine three-pointers. the catch the third quarter with a buzzer beater. anthy davis. houston crest new orleans one 201999. we see what we need to work on. the pelican sabia. and in college hoops. they beat san diego by 50 points. josh perkins each scored 15 points. the final score 96 to 38.
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i know laurent you probably want to look at that. that's next stay with us.
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>> fast food heaven. talk about is taking the chicken shell to lupa at the menu. it's actually made with all white chicken. so why is talk about taking that off the menu. it's a popular. let's get you caught up on global markets overnight. lower by six tenths of one per
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sent. red arrows in europe also. it could be the weekly loss with the 44-point decline on this friday. they're down 44. down 104 points. thank you so much for joining us here. it was great to see you. we are hoping that we can turn the stock market futures around. coming off ten. let's see you commodities. down about a quarter. we are seeing a lot of action the past couple of days up another $6 today adding on an 18-dollar gain yesterday. so the expectations for a rate hike in march slightly lower this morning. that's one of the reasons why

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