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tv   FBN AM  FOX Business  March 16, 2018 5:00am-6:00am EDT

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for us tonight, we thank you for joining us, congressman sean duffy, and general jack keane >> he was crossing the street at the moment that the bridge was coming down and i don't know if he was -- i don't know, really, he was just severely injured. cheryl: breaking this morning the investigation underway in the cause of deadly campus bridge collapse in southern florida. liz: new worry for investors, robert mueller's demand for information, has he now crossed trump's red line? cheryl: taking a toll on the market this morning. s&p had been higher the index ending down for fourth straight day today could be another hit in the index. liz: let's take a look at today,
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futures higher. just to point s&p 500, dow down 5. mixed picture in asia, moving to downside. in china they're moving higher, also higher in south korea. cheryl: super pop star rhianna to throw away snapchat, fbn:am starts right now. ♪ liz: how are you feeling this morning 5:01 a.m. in new york. friday 16th of march. i'm lauren simonetti. cheryl: good morning, i'm cheryl casone. liz: long week. we shall see.
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the breaking news this morning of investigation underway into a catastrophic bridge collapse in florida, pedestrian bridge under correction in florida university suddenly collapsed killing at least four people. >> the bridge was about goodness, not sadness. now we are feeling immense sadness and incontrollable sadness and hearts go out to all those affected, friends and their families. cheryl: fox news caroline has the latest for us. >> the investigators arriving in florida after newly-installed pedestrian bridge collapsed thursday afternoon, in addition to dead, several more are injured. >> smashed a bunch of cars and there aren't be anybody alive there. >> the pedestrian walkway at florida walkway crashing to 8-lane row below, 50 tons of
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cement. >> i was sitting in front of it, it collapsed from the left to the right. >> first responders digging thrul -- through the debris. >> everything from bruises all the way to broken bones. >> the bridge was going a stress test when it collapsed. investigators will be taking a closer look a bridge collapsed just days after being installed. >> we are launching a multidisciplinary investigative team of 15 specialists in raw number of areas. what was the celebration just a few days ago as the bridge was put into place has turned into a tragedy. >> we will hold anybody accountable if anybody has done anything wrong. >> president trump tweeted from the white house that he was monitoring the collapse tanking first responders who rushed in
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to save lives and praying for those affected. in washington caroline, fox news. lauren: documents related to russia. the trump organization says it has been voluntarily producing documents to special counsel for months and an attorney for the organization says it's old news and assistance and cooperation with various investigations remain it is same today. we will have more on this when a former prosecutor joins us in a couple of minutes. cheryl: well, the trump administration slapping sanctions on russia for meddling in the presidential election and for cyber attacks, it is the most significant action against moscow since president trump took office. adam shapiro has the details from the white house. >> good morning, we start the day with new sanctions against russia for meddling in u.s. presidential election but also
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cyber-attacks on the local grid and also global cyber-attack which has reported to be costly billions of dollars in history. cyber-attack which allegedly hit europe as well as the united states, those new sanctions announced by the treasury department, he had five entities in russia, 19 individuals, three of entities and 13 of those people for election meddling, two entities, fsb, new kbg in russia, as well as gru, military intelligence in russia and agents agents from those agencies have been sanctioned for cyber attacks in the united states. democrats in capitol hill are critical saying that sanctions should have been severed and came sooner. >> the president has said in the past that if we can work together to combat world threats on things like north korea then we should but the president also shown that he's been extremely tough on russia throughout his administration and i think particularly you saw that today
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in the russia sanction that is were put forward. >> senator john mccabe issued a statement echoing the complaints of criticism from capitol hill, he said, quote, the administration took an overdue step forward today in holding putin accountable for attack on our democracy. the sanctions must be part of a broader strategy to deter russia's military aggression and defend allies and partners and strengthen cybersecurity and safeguard infrastructure and stop the spread ff disinformation. back to you. lauren: tech investor bullish on bitcoin, has been buying digital currency since 2012, he talked about the future of bitcoin at an event yesterday that was moderated by maria bartiromo. >> a little bit more question about everything else. it is, of course, it has all the sort of 99-2000 bubble-like
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aspects, there's almost no wall street analyst pushing this and so it is so out of favor. lauren: peter thiel also told maria that president trump would be reelect should he run in 2020. you can watch the interview at 7:00 a.m. eastern on mornings with maria. cheryl: number two executive at nike stepping down as the company investigates workplace complaints, trevor edwards has resigned and will retire in august, the shake coming as ceo sent out internal e-mail that company received complaints of inappropriate work behavior. parker did not go into specific details to have complaints, nike says no allegations have been brought against edwards. lauren: rhianna latest celebrity to sink snapchat after she went on instagram and criticized for posting ad that belittled
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domestic violence. ad ran for a game called would you rather, there it is, asking viewers if they would rather slap rhianna or punch chris brown, chris brown was charged for felony for assaulting the pop star. we saw the stock tumble just about 4%, however, if you look at the year to date chart, snap is up 22% on that basis. cheryl: well, we've got a lot more coming up on the show, president trump has warned the special counsel about crossing a red line by looking into the trump's family finances but has robert mueller gone too far? check out this incredible video, explosion rocking a texas chemical plant. we have details on what caused the fire. you are watching fbn:am.
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lauren: welcome back, let's get you caught up on what's happening now. u.s. rescue teams are searching for american black hawk helicopter that crashed in iraq. the crash near syrian border, officials did not rule out ground fire and they could not confirm how many people have been killed.
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well, one person missing after an explosion at a chemical plant in texas, look at the video of that the smoke coming out over there, at least two other people were injured. massive flames emanating from the plant, fire crews had to be evacuated, the plant did collapse falling a second explosion not yet known what caused the incident. newly released surveillance video shows moments shots rang out at florida high school last month killing 17 people. the footage confirming that former sheriff's deputy scott peterson waited outside the high school, you can see him run to go golf cart at first 911 call came in. peterson under fire for giving other deputies bad information about the exact location of the shooting. peterson has since resigned. cheryl. cheryl: well, we've got news on special counsel robert mueller,
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affected the markets yesterday. the russia investigation maybe honing on president trump's business dealings, mueller is demanding that the trump organization hand over a trove of documents, trump said in the past that any effort to probe business affairs could cross red line, let's bring in former prosecutor, kenneth. kenneth, good morning. >> good morning. cheryl: do you think there's a danger to not just the president but the business trump organization as the probe is now expanding? >> no, i don't think there is at all. and this is propaganda at the highest degree and i'd like to educate the alleged political and legal analysts who either fame to understand the law or fabricate -- cheryl: educate us, what do you mean. >> there's nothing illegal for american companies to engage in business in russia even more so there's nothing illegal to take political contribuigs from russia and there's nothing i
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evil unlawful by colluding with -- let me finish. cheryl: this all began because mueller was looking with tampering with the 2016 presidential election. >> true, but you have to collude to commit a crime like bank fraud or identity theft or how about illegal surveillance of american citizens. i hate the phrase there's a nothing burger, i will say there's nothing chicken salad sandwich here on rye toast. there's zero, a fishing expedition, unless the special counsel has probable cause that something in trump's private business dealings are related to colluding to commit a crime, it's border line criminal to be
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seeking a warrant in this case. cheryl: that's the investigation, though, that's the point of having the investigation and mueller is somebody that is not leaving any stone unturned. he has some of the brightest legal minds on his team. question, too, how far can it go, what i say within the business, the trump organization, i mean, once you get lawyers, your e-mails, files, everything is open, i mean, the president never, you know, gave us a look at his tax returns, is that where the potential problem could be for the president? >> i'm not saying that the special counsel or his staff are definitively doing something unlawful, what i'm saying is that i'm highly speculative because jus have the right to investigate somebody doesn't mean that you can start surveilling them. you need probable cause to do that, you need to have reasonable suspicion that criminal activity is a foot and that what you are trying to take meaning what you are trying to
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seize will derive something criminal from it. i haven't seen anything. we don't know anything. maybe there is something there, but as far as i can tell, given where this investigation is gone, all roads are not leading back to donald trump. cheryl: i want to ask you about the red line comment from the president, i mean, he of course and he said this many times, he wants this to end and end soon, he wants to put this behind him, he never said there was collusion with the russians during presidential campaign, but what kind of recourse could the president have against the investigators? >> it comes down to this, cheryl, if the special counsel has probable cause to believe that anything related to trump or people that he's dealing with have committed any offenses, then he could delve into any type of matter. i could see why the president is annoyed, aggravated and upset that they are delving into
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matters that are relate today his private affairs, however, if there was something hidden in there by somebody in his company and the special counsel has this good-faith, reasonable belief, ie, probable cause that there's something in there, then he could delve into it. i'm just saying that i'm very speculative at this point that there's anything that anybody related to trump had dealings with russia that amounted to colluding to committing a crime. cheryl: well, and that's, of course, what the president maintains, the question is when you start getting into, again, the finances of a business, what do you uncover because if no stone is left unturn what did you find on stone that is you didn't realize you had turned over. thank you very much, appreciate the legal perspective this morning. >> thank you too. take care. lauren: i have another perspective for you because tomorrow is st. patrick's day. cheryl: that's right. lauren: one company has a way to
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get you home safely if you drink too much green beer and will the weather bring the luck of the irish, janice dean with the answer. let's take a peek with futures, dow up for the first day, wait and see approach. s&p futures up a point. you're watching fbn:am.
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cheryl: i would hope so. what's the weather going to be like for st. patrick's partying? janice dean in her pink. lauren: she can't wear green. cheryl: we forgot. not a bad forecast for northeast, it's the good thing it's not next tuesday because that we could potentially see the next winter storm, that's why i'm dressed in spring colors, 34 in new york, 30 in chicago, the stage is set for more stormy weather and that is happening across the west, the energy from the storm system is pushing from the pacific is what is going to make things active for the weekend and then into next week, you can see the moisture streaming into the west bringing coastal rain and mountain snow, great news for skiers for potentially bring severe weather on saturday for
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parts of the gulf coast and some of the area we will monitor, the computer models have not honed in, but dc snow deficit, this could bring quite a bit of snow to the mid atlantic and perhaps the northeast on wednesday, so monitoring it, very closely, of course, first day of spring comes on tuesday, we are going to have to wear spring colors because that's the only way we are going to see them on the map. cheryl: that's a deal, janice dean, absolutely. lauren: happy weekend. cheryl: thanks janice. lauren: the trump administration puts down the hammer on vladimir putin and russia. >> we will be tough on russia until they decide to change behavior. lauren: will sanctions stop russia from meddling in our
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lauren: breaking news this morning, new worry for investors, special counsel robert mueller demanding information of the trump organization, has he crossed president trump's red line? cheryl: news taking a toll on the stock market. the index ending down fourth straight day. lauren: stocks lower on the week, futures, well, they've been up and they've been down up at the moment, dow up 10, nasdaq up 3. cheryl: stocks opening slightly
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lower but a bit of a comeback. all positive. lauren: here is your asia close today in japan, the nikkei down half of 1%, in south korea kospi up just fractionally. fbn:am continues right now. cheryl: we are coming at 5:30 a.m. in new york. i'm cheryl casone. lauren: good morning, everybody, i'm lauren simonetti. thank you for joining us. cheryl: maybe the stock markets will have the luck of the irish. lauren: we will see. i think they need it. the news out of dc needs to quiet a little bit for investors to separate themselves and trade on -- cheryl: news was big yesterday, the trump administration hitting russia with fresh sanctions for meddling in the presidential election and for cyber attacks and now the gop is doubling down on calls for a second special
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counsel into the russia probe. lauren: investigators to investigate the investigators, griff jenkins in washington for us, he will break it all down. >> good morning, lauren and cheryl, you know, we have been hearing calls for a second special could believe for months, now a group of republican senators is asking the department of justice to take action in a letter to attorney general jeff sessions, deputy rod rosenstein and chuck grassley, lindsey graham, write we believe that a special counsel is need today work with the inspector general to independently gather the facts and make prosecutorial decisions if any are merited, the justice department cannot credibly investigate itself without these enhanced measures of independents, the decision largely driven by findings of doj inspector general who lacks authority of a tbrj and who is prohibited from interviewing witnesses outside of the justice department. this coming as top democrat on
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the house intelligence committee adam schiff says he may be losing some confidence in special counsel robert mueller. >> we can't simply rely on bob mueller. his job is different than ours, his job is to determine who broke the law and who should go to jail. it's not his job to tell the country what happened, that's what congress is supposed to do. there's no substitute for congress doing its job. >> meanwhile as you mentioned the administration is slapping brand-new sanctions on russia as new information sources on their meddling and targeting of the u.s. power grid. white house press secretary says it's time for russia to change their ways. >> i think you can see from the actions that we have taken up until this point, we will be tough on russia until they decide to change their behavior. >> finally, as for that second special counsel, it will be up to attorney general jeff sessions and rod rosenstein to make that decision, we may learn in the coming days and months whether or not that will happen.
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lauren, cheryl. lauren: griff jenkins, thank you, we ask that the sanctions that griff was talking about first step for stop russia from meddling in november, kristin and democratic strategists, antoine, happy friday, guys. i don't expect either one of you that these sanction wills stop russia in meddling in 2018 midterms, do you think that's the case? >> no, absolutely not. lauren: how do we go after putin, how do we stop it from happening? >> well, first of all, i think it's crazy as hell, excuse me, my language that we have some on the right that are praising trump for doing what he should have done a long time ago. look, we know for the fact that russia play intoed our elections a long time ago and it's sad that here we are, you know, a few months out for november elections and we are just now imlementing sanctions for
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something that happened in 2016, we would not be here if it wasn't for the special prosecutor and i'm not sure we would be here today if it wasn't for the latest incident happened with the british and so i think it's crazy, i think it's sad, the truth of the matter is trump has yet to direct his intelligence community to deal with russia in a real way and prevent them from hacking into elections in 2018. lauren: what do you make about this? >> the fact that there's various committees on the house and senate that have been trying to increase and improve cybersecurity for a long time since the 2016 elections and before, of course, i do agree with antoine and many people, especially those in gop that the sanctions are overdue. we have to look at this in global context. russia has been doing this for decades throughout the 20th century into now as well as in other elections, throughout europe as well, most recently in germany. this is not new, the pressure
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tactics won't make drastic changes but the best way to protect against this is strengthen the bonds american americans, the russians cannot exploit that with disinformation or anything else if it's not there to begin with. we have a enough of a problem with political culture that we can solve as americans before the government steps in and does anything. lauren: wall street journal editorial board agrees with both of you, a foot stomp and public whining, unless you go after finances of putin's cronies, you will not stop the problem and get the response that you want from russia. although we do have alliance. if you look at the nerve agent that is was used to poison the former russian spy and daughter who are in critical condition right now, you have germany, france, the uk and the u.s. condemning russia for that action, what do you make of that antoine? >> well, laura, that number one, this is not enough, indicate lindsey graham was right we have to go further, number two, i think somehow or another leader
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of the free world, our president donald trump has to call this out for what it is. lauren: he has. >> no, his comments were exact quote it could have been russia just like you say it could be russia or someone else who hacked into our elections, what we do know for a fact that world leaders have declared that it was russia who did the latest incident and what our intelligence community says it was russia who hack intoed the elections. that's the first step in making sure we get to a resolution and we have to put the foot on the gas and punish any way we can so we can prevent this as much as possible. lauren: kristin, there are reports this morning that the nerve agents that were used for the poisoning was put in the daughter's suitcase before she left, so we don't know where this would be assassin essentially is and that certainly changes how we deal with -- deal with this situation. how big of a deal is this to
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you? >> well, this is what russia has been doing, again, for a very long time. a lot of this is political, obviously there needs to be strong statements from western democracies as there has been. honestly, just statements until the europeans get off of russian gas, strong economic tight that they have, it's not going to be much of a deterrent at this point. lauren: it's a big deal. a toks inlike this was used on european soil since world war ii. >> laura, keep in mind russia came up that they will step up retaliation efforts, that's why the united states more than every has to be unified an not politically divided starting with donald trump and the republican congress. lauren: and they have their elections in russia coming up.
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i wonder who wins. thank you very much. >> thanks, lauren. >> thank you. lauren: that was a joke. cheryl: that will be a real nail-biter. when the markets get volatile, it's always good to hear from a voice of reason, future guest of maria bartiromo at 8:00 p.m., here is a preview. >> they did the right thing, rates down for sure and increase money supply and now we are just turning back, finally turning back to normal economy which i think is fantastic. cheryl: of course, the interview tonight and also coming up, we will take a look at what to expect when fed policymakers meet next week, jarome powell first time at bat, plus, we have the story how stock trading app loved by millennials has now become one of the top technology companies in the country. you're watching fbn:am.
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lauren: tgif, let's get you caught up on what's happening now. former deputy director andrew somebody cable trying to hang onto attention. he stepped down after coming under fire for president trump for his handling of hillary
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clinton e-mail investigation. fbi officials recommending to firing. the justice department is expected to reach a decision on what will happen today. well, the treasury department is pushing back against a report that treasury secretary stiefn mnuchin cost taxpayers, get, this about a million dollars in travel expenses last year. the treasury department says much of the report consists of falsehoods an mischaracterization adding that mnuchin's requests aren't unusual from secretaries in previous administrations. and the valuation of the robin hood app which allows investors to dpe cute stock trades for free is up to $5.6 billion, that's a full increase from last area's funding, robin hood reportedly close to securing another $350 million from group of investors that's led by russian firm dst global, cheryl, that's what's happening like that. cheryl: because millennials like
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anything free. interesting. let's talk about the markets and how your stocks may be performing today. we have jay powell leading first meeting. let's bring preview senior economist mark and dominic, guys, good morning. >> good morning. >> mark, first, let's talk about what we expect to hear from the fed, certainly the inflation situation and the story has changed, they've now had enough time to analyze the data, look at what's happened, all the market volatility, do you think they will start to acknowledge the inflation pressure that the country is seeing? >> well, i think they will take a more hawkish tact, i don't know that they are that worried about inflation, i think that they are now pretty happy where the economy is, the economy seems to have a strong tail wind on its back and expectations for growth are higher, we have fiscal policy being stimulative right now, credit is very easy, relatively easy, i think that in
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that kind of environment, they will leaning toward going more in terms of interest rates and we have four rate hike this is year in forecast. cheryl: mark does make a good point, this has been hawkish fed so far and we do have the expect that powell will continue in the same framework that yellen was working under. >> well, if you look at yellen's history she was much more doveish and data dependent on raising interest rates, i honestly think that -- i know powell is coming in and new attitude, new procedure, at the end of the day, it's still going to be data dependent and i don't see inflation getting much more than 2% at the end of the year. so 4 is possible, i think 3 is definitive, i can't see 25. cheryl: can't, you can't see five. let's talk about overall
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economy, yes, we are seeing growth in the economy, that's why i believe we are going to see inflationary pressure that may not come until later on this year. do you think that if the economy does really start to pick up steam whether or not that includes the tariffs, do you think that that could change the picture for the fed? >> well, it could later this year. i don't think inflation will pick up all that much. when you look at inflation, it's been too low. the core pc deflaters is only up 1 and a half percent. it's only been 2% in a few months over the last ten years, so the fed has plenty of room there, productivity growth has been very low, i think it will be stronger this year, i think that the tax cuts will bring more workers back in labor force, stronger labor force. cheryl: tax cut 2.0, mark. if you look at markets, though, i want to go back to the issue of the tariffs, dominic if you look at the market performance since tariffs were announced, we
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have green numbers to show our viewers, this has been a volatile couple of months, if you look at the dow up about 1 and a quarter percent, s&p up 2 and three quarters percent and taking a look at the nasdaq up more than 4%, we have a chart, if we can pull that up, guys, investors are shrugging off the concern about tariffs and job loss. >> we look at the trump administration so far, president trump is very animated about what he says and what he thinks and tweets but then when you look at what actually happens, his position often softens. it looked like it was going to be a world beater, he excludes canada and méxico, for now as he says for negotiating purposes, so he might soften his position and with mr. kudlow coming into
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the office, if it get worse, the markets will react negatively. cheryl: mark and dominic, it'll be a good meeting. >> good to see you. lauren: coming up, we are checking brackets as llayola advances, jared max more on that and the sports highlights for you and tensions are rising between london and moscow after the poisoning of a double agent and his daughter, how closely are investors monitoring this situation? we will have that next. taking a look at futures this morning searching for direction ahead of industrial numbers, you're watching fbn:am.
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cheryl: welcome back, okay, first day at the ncaa produced two big upsets, your bracket maybe busted. lauren: jared max is here with the highlights and update on march madness. jared: also in the golf course, if you picked arizona deep in the tournament, you might want to find contests where you can enter the tournament after it already began. the same florida. check this out. [laughter] >> buzzard. jared: unbelievable. university of chicago, first tournament game in over three decades, shocked the hurricanes. long 3-pointer.
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64-62, they play tennessee next. big night for buffalo. thirteenth seed, wildcats losing 89 to 68, buffalo moves onto play kentucky which held off davidson by 5. 16 games today, 16 more today. prvidence and texas a&m. cheryl: bucknell has never been in march madness. jared: look, 71-foot put for tiger woods yesterday on the par 3-8 hole. tiger woods had six birdies, one double bogey, he finished four under par. shot 68, four shots of henry, tiger has been made the favorite to win the masters.
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lauren: he's back. jared: city of new orleans is in mourning, long-time owner of saints as well as nba pelicans tom benson has died. benson bought the team in 1985. eventually a super bowl champ, tom benson was 90. the former favorite target of aaron rogers found a new team, 2-year 15 million-dollar bill. make room for jordi nelson. you recognize this guy in football field, the hair gives it away, doesn't it? haven't seen much of once nfl quarterback, certainly not in football field, yesterday secret private workout in houston, nobody knew about this, yahoo reporter was far away and caught
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it. the money that's going around in the nfl right now for players, maybe colin kaepernick maybe serve my time away if i did something wrong. lauren: care to make any bets? jared: i think he will get signed. cheryl: who needs a quarterback? jared: a few teams out there. the thing he wants to be a starting quarterback. lauren: he gets a lot of attention that some of the teams might not want. jared: yes, there is baggage. lauren: that's what we call it. cheryl: no baggage jared, fox news headlines 24/7, siriusxm 115 is where you can find him. lauren: coming up, how closely are investors watching response to poisoning of former spy, live to london. one moment can change a life.
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lauren: what do investors make of the response of poisoning of former russian spy and daughter? neil wilson joins us now on attempted assassination affecting the markets, good to see you, neil. >> and you, thanks. lauren: what do you think about that? neil, we want to talk about the
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attempted assassination of the russian spy and his daughter a couple of days ago. >> sure. yeah, i think -- lauren: yeah. >> that's right, yeah, i think i think vestors are a bit concern, they are looking at this and we are not seeing any major risk premium attached to the ftse, to the uk stocks and bp has 20%, shell has operations in russia too, i think while investors are a little bit concerned, they are not attaching a significant risk premium, i think really at the moment we are seeing more of a diplomatic that will work itself out. we've had sanctions, russia facing sanctions for several years now since crimea and that sort of boom time and commodity when we had russian firms rush to go get listing, that's been over for 2 to 3 years already.
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i don't think at the moment it will have you major impact on fo in london. we are watch to go see what kind of impact -- cheryl: it's an incredible story, real quick, european stocks, you know, they started out lower, taking a little higher, cac 40 is in the red, what's the headlines out of the markets this morning? >> well, i think everyone is looking ahead, really, to the fed, we have the tariffs and trade war stuff happening that sort of weighing a little bit still and really everyone is looking ahead to next week's fed meeting to see where that takes us. lauren: neil, thanks so much, tariffs, the fed, sanctions, getting kind of crazy out there, thank you for joining us in fbn:am. cheryl: thank you for being here. it's time for dagen mcdowell who is hosting for maria bartiromo this morning, good morning. lauren: hey, dagen. dagen: we have incredible people coming, including two two ladies. good morning, i'm maria
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bartiromo -- dagen mcdowell in for maria bartiromo. the dow snapping a 3-day losing streak yesterday closing up more than 100 points but the s&p did finish in the red for the fourth straight day, if s&p falls again today, it would be the longest losing streak since november 2016 right before the presidential election. despite the rally and blue chips, investors remain concern over a possible trade war. something maria spoke with paypal cofounder peter thiel in an exclusive interview. >> you are always supposed to be antitariff, that needs to be part as well. it's obvious that there's something wrong with trade relations, we import $475 billion and export
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100 billion. dagen: we will have more of exclusive interview with peter thiel coming up. we have a slight gain on the s&p right now. in europe stocks are higher, if you look at england, france and germany, you have a slight loss on cac quarante but gain on ftse and dax, in asia overnight, stocks mostly lower, small gain, and tragedy in florida, at least six people are dead after a pedestrian bridge collapses in miami just days after being built. the shocking scene coming up. moving to washington, more changes at 1600 pennsylvania avenue, president trump is looking to replace national security adviser h.r. mcmaster, the latest as sarah sanders says there are no changes, and

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