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tv   FBN AM  FOX Business  February 23, 2018 5:00am-6:00am EST

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i'm jamie colby. thanks for watching "strange inheritance." and remember -- you can't take it with you. >> it's a regular thing in the stock market and it tends to go up when the market has gone up a lot in response to our policies. i don't care it's anything unusual or anything to be concerned about. cheryl: the white house trying to calm investors rattled by the wile swings? the stock market. lauren: cutting 350 point gain in half it did by 164. cheryl: for the week we are looking at losses really about 1% in dow and s&p. lauren: we could get gains today. futures are up 126 points. cheryl: take a look at europe, stocks falling, wall street
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higher, cac 40 and dax in the green. lauren: sang high composite up about two-thirds of 1%. cheryl: busy day for the president, set to address conservative base at cpac and then hold news with prime minister of australia. lauren: what kylie jenner that cost snap over a billion dollars. fbn:am starts right now. cheryl: 5:01 a.m. here in new york, friday, 23rd, good morning, i'm cheryl casone. lauren: good morning, i'm lauren simonetti, any good weekend plans for you? cheryl: there's a lot of flights in my future, it'll be very exciting, i will see you at the airport. lauren: president trump said is said so speak to cpac for second
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year in a row. and gun control to be a major topic in speech later this morning in aftermath of parkland shooting. cheryl: and then the president welcome prime minister and expected to ask the president to consider rejoining the transpacific partnership. that's at 2:00 p.m. today. lauren: president is pushing earning and paying them bonus and extra money to do so. cheryl: blake berman at the white house, he has details. blake: president trump on wednesday during listening session with student first broached the idea of having teachers, fact ute, staff who are are experts with guns bringing them to school so they can defend schools an reiterated that with much more firmer offense on thursday with state and local officials.
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the president saying shooters view gun-free schools like ice cream. >> what i recommend people who do carry, we give them a bonus, we give them a little bit of a bonus, so practically for free you'll have now made the school into a hardened target. we need hardened sites, you come into our schools, you are going to be dead. it's going to be fast. blake: president trump says he supports raiding the age of gun purchases to 21 year's old but the white house also appeared to shut the door on banning assault weapons. here was secretary raj shah. >> i think safety drills which help in these types of situations would be more appropriate. brack black when talking about active shooter drill the
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president appeared to be skeptical saying they are very negative and shah said it was more a branding issue and the president would rather be called safety drills. back to you in new york. lauren: shocking new details coming out of the investigation from the parkland shooting, stoneman douglas high school sct peterson. >> scott peterson was on campus, he was armed and in uniform, what i saw was a deputy arrive at the west side of building 12, take up a position and he never went in. lauren: deputy peterson has been suspended without pay and meanwhile there was a delay in security camera footage that was caused by a communication issue among officers who responded to
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the shooting, the footage being reviewed at the time was 20 minutes old, they thought they were looking at live footage. teachers and staff, they are returning to the school today for the first time since the shooting, classes for students, they are set to resume wednesday. cheryl: well, another piece of news we are following this morning, a major u.s. bank is ending long-time partnership with the nra. lauren: for that we say good morning to tracee carrasco, she join us us with the story and the other headlines making news this friday morning, good to see you, tracee. >> good morning, as gun control intensifies, first national bank of omaha tweeted that it won't renew a contract with the national rifle association after receiving complaints from customers. nra says part benefits are 5%, 45th store purchases --
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cheryl: trisy, something is wrong with your mic, they will fix your mic and head hack to the show. tracee: okay. lauren: see you in a bit, stunning details about the armed guard at stoneman douglas high school. >> sick to my stomach, there are no words. lauren: we will talk about what went wrong and whether paying bonuses to teachers carrying firearms is a good idea and chevy chase in a car chase. cheryl: really? lauren: we will tell you about the actor's case of road rage in just a bit. cheryl: he has a temper? lauren: i forgot all about him. [laughter] s the new new york.
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cheryl: welcome back, let's get you caught up on what's happening now. the trump administration plans to announce what is being built as the largest package of sanctions yet against north korea. meanwhile ivanka trump has arrived to a red carpet welcome in south korea to attend the closing ceremony for the winter olympics this weekend. north korean delegate will attend the ceremony. a st. louis grand jury has dieted missouri governor eric on felony invasion of privacy charge, it's related to the
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republican governor's affair with a woman in 2015. she said that he took a photo of her in home and threatened to use as blackmail if she spoke about the affair. he has denied committing any crime. finally, get this actor chase chased a driver with a driver who ended in physical altercation. he kicked the driver to block a bunch and that's, lauren, what's happening in new jersey to you. lauren: wow, my state. strong reaction after report that the armed deputy assigned to stoneman douglas high school never went into the school. >> he could have went into the school. there was time but there was only -- he only took -- he took two minutes and just sat there and did nothing. >> if he's the one who had the gun, he should have been the first person to go out and --
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for all of us and just go with his gun and try to protect all the children. lauren: joining me now lead intelligence and protection agency, good to see you, lou. >> thank you. lauren: did he freeze, what happened? >> he may have. either way what this will translate to into investigation to determine if he acted in malfeasant way or nonmalfeasant. very likely they'll follow with a wrongful death suit. lauren: he was on the force for 30-something years, he was in uniform and had a weapon and then -- >> well, you know, you have to look generationally, 30 years ago was a long time. lauren: they weren't dealing with this then. >> no, ma'am. law enforcement has evolved both in training and how we are equipped and he's further down the road and he may have
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rationalized the need for him to engage in the sense, you know, he's looking at retirement, a lot of things that may have been working on him. bottom line is your responsibility especially when you're in position to go in and address an active shooter. lauren: part of this investigation, they are looking at other deputies who respond today calls and in both of the instances one as recent as november, the caller said, hey, nikolas cruz, we think he's going to shoot up a school, this is what we know and those deputies didn't act on it, what do you make of that, what will happen to them? >> well, we have to have the investigation to get the most accurate details but there's a little bit of mixed message being sent to law enforcement. on one hand, they caution us as to how we engage the public, they don't want to hurt your feelings an offend you. lauren: pc culture. >> we are doing with teachers as well and then you have the part of it where you feel why didn't you act on something, so you are
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almost in a no win-situation in law enforcement because of scrutiny in the past that prepared to take your job and even incarcerate you. lauren: within of the ideas the president has is arming teachers, take a look at this sound bite. >> they are not going to walk into a school if 20% to have teachers have guns, it may be 10% or 40% but what i recommend the people who do carry let's give them a bonus. lauren: do you support the idea? >> no, ma'am, you need to leave the commerce of carrying arms to law enforcement professionals. most importantly every day you're in the street you learn through your experiences and develops your instance and intuition, i don't have an expectation of a teacher teach ing and prepare shifts and engage in active shooter. there's a lot involved when you
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get in firearm-related instances. my own private business in 16-year period i took handguns from individuals, your blood pressure, everything skyrockets because you shift into tactical mode. that's not just something that you do spontaneously when you're in a classroom, not to mention when you start entertaining the notion of discharging a firearm, you have collateral damage issues and translates to student. lauren: thank you for your expertise this morning. >> my pleasure. cheryl: now reports that americans may be drowning in debt and they could get hammered by higher interest rates. we have a new report on all the red i think. audi making cash for tolls a thing of the past, we will explain, you're watching fbn:am. at fidelity, trades are now just $4.95.
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olympic winter games like never before with xfinity. proud partner of team usa. cheryl: major u.s. bank ending long-time partnership with the nra. lauren: tracee carrasco joins us with more on that and other headlines. tracee: good morning, let's try this again. as national debate for gun controls intensifies first national bank of omaha tweeted yesterday that it won't renew a contract with the nra to offer an nra-branded visa credit card after receiving complaints from customers. an nra blog says the cards benefits are 5% back and every time you pack out to go to huntand range you're putting money back in your pocket, that's what the blog says. lauren: a story that cheryl and i like this morning because kylie jenner, the kardashian
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fame, she sank snap shares yet by sending out a tweet. what did he say? tracee: amazing the power that this tweet had, all it took one tweet on wednesday from kylie jenner to 24.5 million followers, there it is. does anyone else not open snapchat anymore or is it just me? ugh, this is so sad, that's it. shares of snap dropped yesterday more than 6% wiping out $1.3 billion in market value. now, it could be because she's a new mom or maybe it's snapchat's recent app redesign which has drawn backlash from users and prompted online petition demanding snapchat revert to old set-up. as the app takes criticism, chief executive evan might become one of the highest-paying executives, 636.6 million stock grant that will be payable
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through 2020. cheryl: i think she was talking about the redesign. plus, you do not want to make a kardashian family member mad on social media and tweet and she went to twitter. we do love that story. airbnb is trying to grow the company. tracee: airbnb offering new tiers aimed higher end customers. homes verified for quality and comfort that have been inspected against thorough checklist, the luxury called beyond air bnb is around trips and higher-end homes. airbnb is launching a program and puts online with hotel offerings, many which give free nights and others to best
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customers. lauren: thank you very much, tracee carrasco. we will see you soon. cheryl: in like five minutes. i like her with a mic that's working. lauren: me too. cheryl: bakery.com is out with a disturbing survey, one in third americans have money saved and what they owe in credit cards. greg, this is fascinating to me, unemployment is down and we get this type of news in average american and financial house is not in order? >> you're right, cheryl, we have seen improvement. the numbers are better than what we have seen in the past several years, consistent with improving economy, we are seeing numbers get better but plenty of room for improvement when one-third of householdses either have credit card debt that exceeds savings or they don't have either one and either one is indicater of we are living really close to the financial edge, that emergency savings
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being the buffer between you and high-rate debt when those unplanned will pop up. cheryl: we are looking at survey results, 21% say that credit card actually exceeds emergency savings, that's very frightening. >> yeah, that's actually the lowest it's been in the eight years we have been looking at it. like i said, the improvements there, it's modest but still plenty of room for improvement, you to double the incentive right now to right-size the equation. the credit card debt is costing you more, you're also going to be rewarded more for the savings, so if you're on the wrong side of the equation, your interest costs on thoo credit card debt are going up and up and you're not earning more interest on the saving. really dwowbl the incentive to buckle down and pay down the credit card debt and add to the savings and get yourself in the position where rising interest rates are helps you and not hurting you. cheryl: we talk about market volatility, ten-year treasury, the biggest, fear, of course,
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for wall street is what it could do to consumer whether that is borrowing cost, mortgages, the fed, are they going to do three interest rate hikes, four interest rate hikes, talk about the consumer side and what outlook is in higher-interest rate environment this year? >> well, you know, everybody ask worried about mortgage rates, look, mortgage rates are still around 4 and a half percent and people buy houses when they have a job and they are making more money and they are confident they are going to keep the job, you know, with that backdrop, i think that's positive for home buyers, they will buy houses whether mortgage rates are 4%, a different house at 4% than they did at 4%. i don't expect that to take too much momentum in the housing market. where i worry about the consumer is variable debt and adjustable mortgages, that's your sensitivity to rising interest rates, we have things like credit card debt going up lately. that's where i worry about consumers. cheryl: two-thirds of the
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economy is consumer spending and that could be a problem. greg, thank you very much, good to have you on the program this morning. >> thanks, a lot, cheryl. cheryl: someone who doesn't have a lot of credit card debt, lauren simonetti. lauren: i actually don't. president trump address conservative base at cpac, we will are going live in the convention on what he's expected to say. you're in a market for new set of wheels, consumer report is out with car top picks, let's take a look at stock market activities, down week for the market, broader market is down 1% this week and on final day s&p up 5 points and dow 89. ♪ ♪ ♪
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>> we have to hardened our schools and not soften them up. a gun-free zone to a killer it's
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like going for the ice cream, here we are, take me. lauren: gun control debate heats up and could be addressed by the president today when he speaks at cpac. cheryl: in the markets volatility, cutting dow in half yesterday ending up 164 points. lauren: but for the week we are longing at down arrows, 1% declines of dow and s&p, about half percent weak for the nasdaq. cheryl: dow futures are up about 73 points, s&p and nasdaq pointing higher as well. lauren: taking a look at european stocks this morning, they have open tire but they are now trading in the red, cac in paris down a quarter of 1% and fo in london. cheryl: nikkei up 2.7%.
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lauren: top cars of the year, one car maker dominating the list, fbn:am continues right now . cheryl: we are coming up 5:30 a.m. in new york. february 23rd. lauren: tgif, kind of smells like friday. cheryl: or friday the 139, i can't decide. lauren: i'm lauren simonetti, in just a few hours president trump will take stage at cpac to rally conservatives around agenda, this follows as powerful speeches from mike pence highlighting school safety as well as immigration. cheryl: hey, griff. >> hey, cheryl, lauren, this is it, this is what they came for.
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president trump coming back as sitting president two years ago, he didn't speak, last year they spoke and skeptical and this year leading a new conservative revolution, it's going to be interesting what he says but he's not the only one speaking, we also have energy secretary rick perry and ryan zinke and colly ann conway. yesterday it was vice president mike pence who brought the house down taking a shot at one of this crowds favorite targets, nancy pelosi. >> any leader who says that a thousand dollars in the pockets oh of warning families is crumbs is out of thank you very -- toue american people. >> all the media going on and on about what should be done, wayne
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lapierre breaking silence and here is what he had to say. >> evil walks among us and god help us if we don't hardened our schools and protect our kids. >> to stop a bad guy with a gun, it takes a good guy with a gun. [cheers and applause] >> another big star in a crowd favorite here senator ted cruz who won the straw poll a couple of years ago took the stage and was able to catch up with him in the hallway and have one-on-one with him and ask him about some of this, here is what he had to say. >> the way you prevent mass shoot askings not stripping away the second amendment rights of law abiding citizens, the way you stop mass murderers is you stop violent criminals, you target violent criminalses and felons an come down on them with a ton of bricks. >> very interesting to see what
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president trump says today because lauren and cheryl this is a tough speech to give, the base of the base where you get the fire and stone that they want to hear, they will take the hill and take no prisoners, but he also has to strike a tone and the entire nation will be listening to what he has to say about how we are going to keep our children safe. lauren and cheryl, back to you. lauren: that's a very good point. this is the moment for donald trump and we have to see how he shapes it going forward for our country, griff, thank you very much. cheryl: and, you know, gun control has been a major topic at cpac this year, yesterday nra chief executive wayne lapierre that school isn't priority. >> movie stars and politicians are more protected than our children at school, do we really love our money and our celebrities more than we love
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our children? cheryl: so president trump's push of arming teachers in the wake of mass shooting is a good idea, democratic strategists jacob and republican strategists and president of vote america now chris, gentlemen, thanks for being here. i apologize if mispronouncing the last name. i'm glad that you're here this morning. jacob, i will start with you because one of the things that president trump and wayne lapierre are saying that schools need to be focused but it's about arming teachers, not all teachers but specially-trained teachers, some states do this, california, ohio, texas, more school security, something that you think you could get behind? >> well, i think the problem here and you have seen this from educational organizations, teacher's unions that they don't want more teachers armed in schools, simple reality is not
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how you reduce gun violence. he had a card that said i hear you, he'll know that 620% want ban on assault weapons, 97% of americans want universal background checks not just comprehensive background but universal background checks, those are the steps that the president should be getting behind and step that is americans want and those are the step that is will make americans safer. cheryl: chris, do you agree, that's the way to protect americans and protect our children in schools? >> i certainly think that we need to come together as a nation. looks, it's time as one of the fathers spoke very eloquently yesterday, did great job at listening session, he resinated. we need to secure our schools as he stated yesterday when, one of the fathers, he went inside the
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department of education and irate and there's a security guard in elevator at the department of education, he can't take a bottle of water which is true on airplane, that being said, it's no reason why everything else from arenas, celebrities, obviously offices, they are more secured than our children. it is time to secure our schools and how is that being done, obviously by the people that are there. do i agree with what the president said that if you know going on campus that there are individuals, teachers, other leaders on campus with weapons, you are less likely to do something and even if you do, they'll be repercussions as the president said, you're going to be dead, you instill fear that something actually will take place. cheryl: you brought up president trump, i want to show you both this tweet that the president put up and let's give the president his own words, he said, and this is with regards to the criticism, this is cnn saying if you don't arm all teachers, look, i never said, i
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never said give teachers guns like was stated on fake news at cnn and nbc, what i said to look at possibility to giving concealed guns with teachers with military or special training experience only the best, jake, i bring up this point because the left seems to be misguided in what the president is trying to say? >> i don't think the left is misguided at all. he said in the very tweet, he's saying i never said give guns to teachers, what i said give guns to teachers except i want those teachers to be navy seals and i want the teachers to be at highest levels of law enforcement and the military, i want four-star generals in our schools, it doesn't make any sense, the idea that you would take those steps, start shifting guns into school instead of doing hard work of preventing people from getting weapons of war is just putting all this backwards, doing a disservice. cheryl: i have ten seconds for you to respond real quick. >> we also live in a different age, we live in a different day and age, we need people that
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equip themselves and prepare themselves and if we have teachers or any other administrators that have experience that come from the type of background, they are for it. cheryl: big debate and will continue. thank you for being here, appreciate it. lauren: the conversation does not end here. consumer reports is releasing its top car picks of the year. cheryl: tracee carrasco will tell us who is on top? >> toyota as taken four out of top 10 positions there. top four picks of toyota from the consumer reports carrolla for compact car, camry for mid size car and mini van the sienna, toyota's dependability and safety, other winners there, the chevy bolt got top pick for hybrid and the subaru forester.
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lauren: that's a good car. cheryl: you would know. tracee: who wants the velcrow on the window, they have the new technology called integrated toll module and essentially will be the easy pass right there. so they say that this will work in all tools in the -- tolls in the u.s. and also parts in canada and méxico. something coming to their cars, they are working on this and installing in the factories. lauren: southwest, i thought they didn't nickel and dime was fees, but now they are. tracee: if you want to get in prime boarding group, the a group, you can pay additional 30, $40. lauren: 30? tracee: now they are saying up to $50 if you want the prime boarding. so this is something that they've quietly rolled out over the last month. it's all, of course, the high demand markets but southwest
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doesn't say which ones, so this fee is added each way on top of your ticket price, now southwest also has the early-bird boarding, $15, but you don't get guarantied a board or even b boarding sometimes. cheryl: it's been called the cattle. tracee: i don't like flying southwest for that reason. cheryl: i still love them, tracee, i love you too. tracee: thank you. cheryl: we have a lot coming up. remember this guy, martin shkreli back in court, they also want the one of a kind wuthang klan album. we will tell you why rising bonds yieldz is a good thing. you're watching fbn:am oh, manatees. aka "the sea cow""
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cheryl: welcome back, let's get you caught up on what's happening now, david kramer, associate of john mccain invoked the if i fifth amendment.
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a judge will decide if shkreli will forfeit and including wu tang klan album and picasso painting. the company is at risk of collapse and bank's chairman has been dieted on charges of fundraising and abusing his position, never a good thing, lauren, that's what's happening now. lauren: they'll could be a silver lining on rising bond yields. albert, the director of asset allocation strategy at people's united, he joins us now, good morning, al. >> good morning, how are you? lauren: i'm great, happy friday to you. >> thank you. lauren: first off, we have been talking for rising yields for weeks now because we keep pushing close to 3% and most of the time we see equities come down as a result when we get the
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four-year high. what rate are you looking at the ten-year yield that's too high for the economy to handle? >> yeah, i think we are -- we won't see trouble there until the ten-year rate gets really to 4% or so. if you look back at historical correlations, you see, in fact, that rising -- rising ten-year yields have been positively correlated with stock prices so long as the ten-year rate is below 5%. now, we are in a little different regime right now so maybe that's 4%, but in so far rising yields reflect increasing confidence in the economy, that's good for stocks. lauren: you agree the economy is doing well right now? >> i think the economy is doing great, in fact. lauren: are you concerned about a tightening job market or increasing federal spending and the budget deficit, are those real concerns for you? >> well, i think we do need to be watching inflation and carefully and the fiscal
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stimulus that the tax cuts, the potential for infrastructure, you know, spending could provide to the economy, there's no question that we would have been better off if we had had a couple of years ago, but the, you know, there's no question the u.s. infrastructure system does need improvements. in terms of labor slack, the thing that's puzzling there is that with unemployment now at 4.1%, over half a percent the natural unemployment rate, we are still not seeing the growth in wages that you would have seen in past economic cycles at this particular stage and even the fed minutes that came out the other day commented on this, the relationship between resource constraints and inflation doesn't seem to be the same in this stage of the economy as it's been in the past. lauren: so you'd make the case that wages can still increase
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and everything will be fine if that happened? >> well, i think in fact, we are not going to see the sort of wage increases. people have asked the question, the philip's curve seemed to be broke, standard relationship when unemployment goes down, wages go up. it's something that we have been looking at since kennedy administration and before, but at this point right now the philip's curve is very flat. a decline in unemployment is not going to -- does not seem to be -- lauren: final question, albert, ten seconds here, we've had the wild, wild volatile swings in the stock market, at what point do they stop or do we continue all year like this? >> no, i think volatility is going to subside somewhat. it has dropped over the course of the past week, it's now below 20. i think we are seeing a reversion to more normal -- more normal seas, if you will. lauren: and the index down 6 and a half percent. albert, thank you so much. >> you're welcome, thank you.
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cheryl: what are we going to do twowt olympics this week? lauren: i haven't tuned and i'm not that interested. it's not just me. we have been talking about this. cheryl: major upset for the u.s. men's curling team as they get set to go for the gold, team usa struggling and tilinger woods very pleased with opening round at honda classic but is he going the make the cut? jared max coming up with sports highlights, taking a look at stock u.s. stock market futures after yesterday's crazy wild ride, dow up in the premarket. we will be right back. ♪ ♪ ♪ real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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fidelity. retail. under pressure like never before. and it's connected technology that's moving companies forward fast.
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e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
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cheryl: welcome back, another
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big win for team usa over canada. lauren: jared max is here on what we need to know about sports. jared: upset victory over defending gold medalist from canada. usa beat canada 5-3 in men's curling semifinals, so usa advances to gold medal game. it'll be saturday against sweden. americans are sure their best olympic finish in men's curling. while olympic athletes took gold last night, american finished in tenth place and days after she hopes to join fellow olympic fellow in dancing with the stars. after finishing in tenth place last night said i would like to be in dancing with the stars because i'm a star, i made history by landing a first triple axel but it's rare for
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me. some saying a bratty response. cheryl: well, pretty confident person there. jared: by the way, closing ceremonies early sunday morning, an american olympics summer olympics gymnast simone biles will carry the flag for delegation. employees and teams to report any improper conduct in workplace, this is swift response from story that paints a scene described by mavericks owner mark cuban as it relates to alleged treatment of female mavericks employer by former team president ussery and the team's lack of response. tiger woods returned to honda classic, first time since he had to leave in 13th hole in final round, back spasms, well, he's back, shot shot an even par, four shots off the lead. the florida panthers returning home to south florida for the
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first time since stoneman douglas gun shooting, the panthers honoring the 17 victims with patches, stickers, boards that read msd strong from marjorie stone. >> i am very, very proud of you, guys, you guys are brave. [cheers and applause] >> you guys are an inspiration to all of us and at the end of the day, you guys are what's giving up hope for the future. thank you. [cheers and applause] jared: home team did not disappoint, big stop in game, 1 t seconds to go and vince with puck home, emotional win. it is time to play ball. all 30 major baseball teams open seasons today and we will see players, managers, coaches,
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umpires. hey, speaking of auctions, the hockey stick used by miracle icecap taken michael the day the usa beat the soviets sold for $290,000 at auction. cheryl: wow. jared: big market for that stuff. jared: yeah. lauren: all right, jared, thank you, enjoy the weekend. good to see you, you can catch jared fox news news headlines 24/7 siriusxm 115. cheryl: stocks lower on the week, we will cross the pond to one trader. more fbn:am. ♪ ♪ today, big thinking in the finger lakes is pushing the new new york forward. we're the number one dairy and apple producers in the eastern united states
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supported by innovative packaging that extends the shelf life of foods and infrastructure upgrades that help us share our produce with the world. all across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov
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cheryl: u.s. markets heading into today's trading sessions with losses. niel wilson, senior market analyst joins us now. usa stocks continue to make up loss ground but mixed week, what are you seeing over there? >> well, i think we are looking at futures opening up a little bit higher today and clearly, clearly it's not been a great february for the stock market, but at the moment we are seeing over the last week or so it looks like the market is moving a bit, still making minds up on where bond yields are going as
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we see bond yields creep up and seeing them back down. there's a bit of interplay here with what's happening in the bull market and the stock market and both are trying to figure out where they are headed at the moment. lauren: quickly here, shares of royal bank of scotland are definitely taking a hit this morning, what's driving the stock lower? >> well, there's still a lot of concerns around the department of justice's investigation, they are facing a big fine there from past misdemeanors and also lack of clarity on really the outlook in terms of earnings growth, so there's a lot of uncertainty. cheryl: a lot to watch, neil, thank you. >> thank you. lauren: thank you, everybody for tuning this week to fbn:am, we will say good morning to mornings with maria, maria bartiromo. maria: good morning, everybody, thanks for joining us. i'm maria bartiromo, it is friday february 23rd, top stories right now 6:00 a.m. on the east coast. promises made an promises kept,
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president trump set to speak at political conference cpac this morning, expect today address the turn in american economy and how it's taken a turn under his leadership. something vice president mike pence highlighted just yesterday. >> president trump promise today cut taxes across the board for working families and job creators and two months ago today president trump signed the largest tax cuts and tax reform in american history. promises made, promises kept. under president donald trump america once again stands without apology as leader of the free world. maria: fox business is taking you live to the president's speech at cpac, we have live coverage beginning at 10:00 a.m. eastern. stay right here as we await the president's speech this morning. return to green, dow closing up over 160 points, well off of the high, nasdaq was down for fourth
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straight day, we are still talking about a tough week for stocks this week, inflation weighted on investors mind. down two basis points but, of course, this is a level that everybody is watching and has spooked markets. take a look where we are, as you can see, we are looking at a bounce, dow up 66 points, s&p 50 fractionally better and nasdaq is up a quarter of a percent, 14 higher. looks like the market will start strong. europe searching for direction this morning. ftse down 21 points as the cac quarante down a quarter a percent and dax down 15 points fractionally lower. in asia overnight, green across the board, best performer index kospi in korea. in japan up three quarters of 1%. china also up two-thirds. returning after tragedy. staff will return to

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