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tv   FBN AM  FOX Business  May 22, 2018 5:00am-6:00am EDT

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that's it for us tonight. tune in tomorrow, we'll be talking with victoria toensing and joe >> i can expect more agriculture -- >> absolutely. 35% to 40% increases in the near future. >> u.s. negotiators have been outlined to avoid save bpe and also remove more tariffs on u.s. agricultural products. >> signs of easing trade tensions helping fuel a big rally yesterday printed out getting only 300 points. >> we may see more about today. u.s. stock market futures poised to hire for the guy looks to be opening up 51. the s&p up for, nasdaq up 18.
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>> stocks opening higher almost using trade tensions right now. all three major averages are higher. gerri: hong kong and south korea. stocks down slightly and up slightly in shanghai. facebook ceo mark zuckerberg getting grilled by european lawmakers today in brussels. we will tell you about the questions he may face. "fbn:am" starts right now. gerri: 501 am in new york accused a come at april 20. gerri willis in for lauren simonetti. cheryl: good morning. i'm cheryl casone. nice to see the markets yesterday. loved it. gerri: can't complain with that and maybe we'll get more today. markets to open higher. cheryl: absolutely. reagan is this morning continues on the topic and washington and
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beijing nearing a deal to not only work on trade or to settle in cte controversy. the outline of the deal would lift the ban on u.s. companies selling components employs the company to make management changes to the deal could include china removing tariffs on u.s. agricultural products and buying american farm goods. the agreement has been signed. they might teach others that she at this point. beijing reportedly plans to cut the import duty on cars to 15% from the current 25. blake burman at the white house with more. >> president trump suggesting that china and the u.s. have reached an agreement on certain trade concessions. the president writing china has agreed to buy massive amounts of additional farm agricultural products. one of the best things to happen to farmers in many years and he then wrote to come down for the first time. however, the commerce secretary
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wilbur ross said on fox business that there is no definitive agreement in the talks remain at a 40,000 vote level. i guess treasury secretary stephen mnuchin to verify. >> secretary rice has to go over and turn that into a signed piece of paper with companies as i've described. this is not a government to government purchase order. we have an agreement as to what will be executed as secretary rice is going over there next week. >> we can expect more agriculture. >> absolutely. dirty 5% to 40% increases in the near future. >> larry kudlow also echoed mnuchin comments in which mnuchin said the trade was put on hold pitch and has agreed to not go forward with retaliatory measures that he would not say how long that might last.
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back to you in new york. gerri: blakeman thank you for that. secretary mnuchin to get more about the trade negotiations when he testifies on his department's budget today. turning to president trump site to meet with president boone said for three weeks ahead of a planned meeting between president trump a north korean leader kim jong sunbaked in singapore. the very very threatened to pull out of this pull out of the summit if it is pushed towards unilateral nuclear abandonment. treating yesterday about china's role in those talks saying china must continue to be strong on the border of north korea until a deal is made. recently the border has become much more porous and more has been filtering in north korea to be very successful, but only after signing. secretary of state mike ang pao may not a new strategy against
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iran after the u.s. moisture from the 2015 nuclear deal. pompeii are threatening to impose the strongest sanctions in history if the government doesn't change its ways. listen. >> the entire apartment of defense to deter iranian aggression. we will track down operatives and hezbollah proxies operating around the world and we'll crush them. iran will never again dominate the middle east. gerri: pompeo listing a dozen u.s. demands which include calling on iran to stop all nuclear dvd halt the ballistic missile program and release detained american spirit the foreign minister responded by calling the u.s. diplomacy a sham that was in prison by and failed policies. we're also asking that the whole supporting militant groups in the region. cheryl: very important.
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president trump and the department of justice appear to have come to an agreement on expanding the russian probe. the president meeting with top justice officials about reports the fbi may have used a confidential informant. afterwards, the white house and the doj inspector general investigate the matter. president mike pence telling fox news the president is grateful. >> the inspector general has the resources to get to the bottom of it. working on a major report about the fbi's conduct in expanding into this role we are confident we will get to the bottom of it in the american people and all of us will have the facts. >> top democrats are criticizing the president's involvement. >> is a reaction, the president does what he always does when faced with alarming news about the conduct of his campaign and the people in it. he kicks up dust. he tries to distract. that is all demand for a counter investigation is.
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another distraction. >> separately from "the new york times" reports the white house has worked out a deal with investigators see some highly classified documents regarding the probe. it's not clear what information will be shared. more on this later in the program. >> polls are open in four southern states straight into the republican nomination. he's taken on for those in the gop primary. president trump treating his support for the governor ahead of tonight's race. primaries held in georgia, arkansas and kentucky with runoffs scheduled tonight in the great state of texas. gerri: facebook ceo mark zuckerberg on the hot seat today
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as he testifies before lawmakers following the data scandal. expected to once again apologize for the misuse of data to 87 facebook members obtained by a company called cambridge analytic eye. three users live in europe. zuckerberg's appearance comes as new privacy rules are set to take place in europe. the shooting will be streamed online. meanwhile the coalition about to see groups want the federal trade commission to breakout facebook claiming that the social media monopoly. >> just don't sign up if you don't like it. >> tracee carrasco with more on that another headlines. >> wal-mart taking the top spot in "fortune" magazine's annual
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fortune 500 list of the countries largest corporations in 2017. wal-mart makes the list for the 14th time in 60 years ago at number one. last year became the first company in u.s. history to generate $500 billion in annual sales. exxonmobil return to the number two spot rounding out the top five work shy or have to wait from apple and united health group. amazon moved into top 10 for the first time and ranks eighth. >> consumer reports with a very scathing review on tesla's model three. not the first time on that car. >> the hits keep on coming for tesla. consumer reports denied the model three sedan. a recommendation because of big flaws found during its testing. the lesson going review comes as authorities are investigating the death of a man after the model as he was driving veered off the road, crashed into a
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fence into a pond. unclear who was in autopilot mode. also investigating speed if alcohol was involved, but still not a good look. trade to the sudan itself is crucial to the growth for tesla. such a swipe at them. they've come out and for and may be the only reviewer. that's essential. >> we saw back in the accident last week with the firetrucks. >> your mail is about to smell a little bit sweeter. >> the u.s. postal service unveiled its first ever sat, scratch and sniff stamps or the scent of summer. feature watercolor illustration. the secrets now will be revealed in the stems are released
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june 20th. blueberry, strawberry, orange cover root. flavors of popsicles but they reminded me of. gerri: do we need this? that was my question. am i being not nice by suggesting this might be something the usps might not want to focus on. maybe profitability might be more important. >> that's a better option, but they are fine i guess. gerri: thanks for that. cheryl: welcome only continue to follow the distraction in hawaii. a new risk from the mob on the big island as workers race to shut down a power plant directly in the path of the lava flow. trade tensions ease between the u.s. and china. how will the news of the deal for telecom giant dte go over? looking at futures right now with that news out. s&p up four and three quarters. nasdaq up 18.5.
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powering up the markets. the dow up for the premarket. nasdaq up an 18.5. lava from the kilauea volcano now for many two-story wall blocking the crucial escape route on the big island could this photo shows the barrier towering over a full-grown man had also won in the blogosphere in the bob is near the island's geothermal plant, which could result in dangerous gases. new pictures of direction from above. aerial photo showing toxic steam rising has hot lava pits the pacific ocean. let's take a look at this. police releasing dramatic body cam footage as president trump's florida club. train to the shooter draping american flag over the front desk at the club.
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attempted murder among other charges. her battles growing over who gets first dibs on the market which probably. it should get repaid before new york state. the convict did firm executive does the irs $1.6 million from a 2015 tax lien. new york claims shkreli still owes $485 in the 2016 tax bill. taxes can escape. over to you. tremper washington and beijing with a deal that would lift the sales ban on china's dte talking about it all morning. the u.s. agricultural products. this comes as treasury secretary stephen mnuchin says the war is on hold. chief investment officer at nova pointe capital. good to see you. thanks for coming in.
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china is putting import duties on passenger cars changing them to 15% from 25. this would affect passenger cars. we saw this huge rally in stocks that have so much business in china. take a look at this list from yesterday. boeing, america's biggest exporter. all these companies moving higher. will we see a similar trade today and auto stocks? >> well, certainly on the announcement that the trade war was on hold but not so much. it will benefit bmw just as much as it's going to benefit ford, gm or tesla. at the higher end, those cars will benefit mass production cars made in china so there's not as much of a benefit to the tariff cut.
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>> as i understand it, if you don't make cars in china come you benefit and that's a shorter list rather than the broad swath of u.s. automakers that she would expect. i want to ask you, where is the bearer of this negotiation? computing comments from the commerce secretary of the treasury secretary. listen. >> this is not a definitive agreement but what we hope will be going into effect. >> it is the framework agreement. secretary ross has to go over and turn that into a signed piece of paper. gerri: it seems like there's some disagreement on how much is actually getting done. we have this news on auto terrace this morning, but do you think there is a lot there?
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>> i think certainly secretary mnuchin is a provider of carrots and secretary ross is old enough for this stick. i think there's negotiations that will go forward. obviously the additional amount spent on passenger cars is a positive. the geopolitical backdrop. the legacy to the term presidency may be peace in korea and he needs chinese ally of not. if they work together on trade to facilitate the geopolitical backdrop, thought maybe the path forward. >> just a mention as we go to dte is getting a big break from the government as we stand behind the company and remove sanctions we had. thanks for helping us out today. we appreciate your time. >> no problem. have a good morning. cheryl: coming up, hurricane alerts, flooding alerts, tsunami
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alerts and then. in one florida town residents received zombie alert. we are going to discuss out. a beautiful day in the northeast. but that is over as rain is moving across the east today. adam klotz is the forecast coming up. looking at futures right now on the news between china and the u.s. in a dtd which jerry was just talking about. nasdaq up 19. we will be right back.
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cheryl: warning, the word zombies pinned lake worth, florida setting out the seller to 7000 post mercer lost power due to extreme zombie at trinity. turns out it was fake. gerri: fate, really? cheryl: it's about the zombie apocalypse and your insurance policy. they could next lane what happened to the cities looking into the reports that the system mentioned zombies. they want to iterate that lake worth does not have any zombie apocalypse and we apologize for the system message. gerri: somebody messed up. when the sun was starting to shine, the rain is back. cheryl: adam klotz is here at the tuesday forecast. >> i am ready to go. i've always wanted to fight zombies then i watch all the shows. i'm ready to bring it on. from now on i'll be dodging raindrops in the northeast.
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temperature wise, things are too bad across the eastern half of the country. you do look off to the west, spot in the 50s. they will be wetter in the eastern half of the country today. beautiful in the northeast yesterday. look at a large area of rain continuing to push this way. the major coastal populations, the heaviest rain arriving at noon but picking about 1:00 or 2:00 hour. at times it will bring some heavy thunderstorms moving across the area. nothing severe, the ray nonetheless making aside your day. the eastern half of the country for the last couple days. you are looking at spots getting a 26 to eight inches. a couple of days, more rain is on the way. i don't know if it cannot begin zombies, but an umbrella might be necessary. >> is bad when you look at london weather in your jealous. >> it was beautiful at the wedding. not here.
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cheryl: thanks, adam. gerri: coming up, amazon bolsters to stop production of such as the blacklist friday night lights and 30 rock. the obama channel is a the deal with the president and first lady. let's take a look at those u.s. stock index futures. what are they looking like? all higher. s&p up five, nasdaq up 20. you are watching "fbn:am." ♪ r. i will. but first, a little presentation. hijacking earth's geothermal energy supply. phase 1. choosing the right drill bit.
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inappropriately spied upon. gerri: signs of easing trade tensions between the u.s. and china helping to fuel a nearly 300-point gain for the dow yesterday. train to take a look at your futures right now could have powerful opened with a dtd helping market sentiment. s&p up five, nasdaq up 29 and 21 and three quarters. >> stocks open higher amid same, amid trade tensions. the ftse higher and the dax higher as well. >> hong kong and south korea for holidays in japan of the shanghai markets are both higher. cheryl: former president obama and michelle obama signing a multiyear production deal with netflix. "fbn:am" continues right now.
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5:30 a.m. in new york. tuesday, may 22nd. good morning, everyone. cheryl casone. gerri: and i'm gerri willis. turning up the heat of washington. a new call for a second special counsel to investigate the doj and the fbi could the doj responded to president trump looking into claims his campaign was infiltrated by the fbi format. cheryl: live at the very latest on this developing story. todd, good morning. >> good morning. another day in bigger bombshell. a group of congressional republicans expected to introduce calling for a second special counsel to investigate alleged misconduct at the fbi and justice department. the resolution focuses on three topics. the investigation to hillary clinton's personal e-mail server and the russia probe from its origins to the appointment of robert mueller and fisa abuses. it all comes after the justice
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department asked the inspector general to investigate whether any politically motivated surveillance took place, specifically whether the campaign was infiltrated or surveilled by an alleged fbi informant. as expected, reaction was split along party lines. >> i think it's appropriate that the department of justice is willing and it seems to be. >> it is to intimidate and threaten and thwart the investigation. >> the president of course weighty and income are treating "the wall street journal" asks where the world was barack obama. a very good question. the vice president had this to say. >> i think it would be very troubling to millions of americans expect to place. we are very confident as the inspector general has been doing their work looking at the conduct of the fbi during the period by adding their focus to
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this that we'll get to the bottom of that because the american people have a right to know. >> three prominent individuals director of national intelligence james clapper, cia director john brennan and ag sally yates altered to the media yesterday. they accused the president of assaulting the justice department accusing the president of self-serving actions. on and on we go. >> no kidding, todd. a lot more to talk about. bring in former democratic congressman jason allgeier and republican strategist john jordan. a lot to go through here. good morning, guys. this seems to be setting up if you will about all between the white house, congressional members on the republican side in doj. there's a red line that seems broad bob rosenstein will not cross at this point. would you think of mine is going to get drawn in wind?
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>> they have to release the documents. they are to said they would but certain members in congress review them albeit redacted once. a serious search and seizure issue here and the fbi has detailed guidelines on how to handle informant in dealing with ones that are lawyers or in the media and if they were violated, that's a very serious matter. >> 's "new york times" reported them to read about the reductions that there's going to be plenty. on the democratic side, you've got people like chuck schumer that are putting up talking points that could take us into the mid-terms. listen to his reaction of all of this on the floor. >> president trump seems to have a terribly misguided view that the department of justice is there to protect his political interests to prosecute enemies. they filed the law, not the political bidding of the president particularly
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investigating him. >> that could be a line that we hear more and more of the coming months for the dems. >> that's exactly what you're going to hear. i'm ongoing investigation. special counsel is doing the work in the white house is interfering in the investigation. democrats will talk a lot about that. you're right. cheryl: let's move onto a couple other things here. in particular the street from the president which could be dangerous. he said officially i'm going to command that the doj actually go after and find out this format. it doesn't seem like the conversation went as far yesterday. there is pushback from the doj. do you think the president will accept the answer? >> what we are having now is mr. horowitz of the ig is going to investigate matters. the 12 members released a resolution yesterday requesting
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a special prosecutor. this isn't interfering with the investigation. this is an investigation of a whole other set of facts. the investigation is continuing unimpeded. democrats want to complete the investigation of potential corruption in the justice department with the investigation of robert mueller and there's two different things. their answers to all these questions. >> is told president trump flied out as an advisor or friend you really shouldn't go down this road from a legal hit. one more thing that chuck schumer said because he was speaking not to the white house, but to the colleagues in congress. listen. >> a good deal of the blame for the democratic behavior lies with congressional republicans who've engaged in the campaign to discredit the justice
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department broadly and the special investigation specifically. train to one word, juicing. midterms. >> it's about the mid-terms, but also difference of opinion on the appropriateness of the president's action. there's an ongoing investigation. the president has determined he will intervene with the justice department not this time and clearly a difference of opinion between republicans and democrats about whether or not that's appropriate. train to what appropriate documents are. i'm really curious what rosenstein is going to do about the red line, which seems to be his redline. endangering investigations, putting a human informant at risk to appease the president, accused the congress to fight make it more interesting today. jason and john, thank you for being with us. we appreciate it. train too good to you. >> starbucks with its new customer policy. cheryl: tracee carrasco has that story another headlines.
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>> starbucks wants to make his name bathroom policy very clear. you can use the bathroom even if you don't buy anything which you still have to act appropriately. they lay out detailed instructions on what to do if someone is behaving in a disruptive manner and does disruptive behaviors include smoking, drugs or alcohol use, improper use of sleeping. amazon getting a new higher. >> amazon said it hired brain vendors to run its television production. sanders is an nbc executive who oversaw shows like the blacklist, friday night lights and gives amazon's original content division a big boost as it invests in videos for amazon prime. >> netflix has two new producers as well. >> netflix has signed barack obama and former first lady
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michelle obama to a multiyear deal to produce everything from scripted shows, unscripted shows, documentaries and features. the statement, obama wants to use the work with netflix to increase empathy and understanding among people. the higher ground production to create content of the agreement were not disclosed. cheryl: of the political programming. thank you very much. still ahead, the hilarious moment in time a passenger jets airport officials bananas. and as home prices rise, what will be the fallout for consumers looking to buy a home. u.s. stock index futures now moving higher earlier. what are they doing right this very minute? the dow up 49 s&p at five, nasdaq up 23. you are watching "fbn:am."
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>> welcome back. caught up on what's happening now. u.s. stock market futures after the big 300-point rally yesterday. the dow 45 for the premarket. s&p 500 up four s&p 500 up for any quarter.
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nasdaq up 21 and three quarters. the new york stock exchange will be led by a woman for the first time in its 226 year history. kasey cunningham, the exchange group c. 00 has been in the 67th president to start a new row on friday and succeeds thomas farley. mexico has suspended the charter company involved in the deadly plane crash that happened in cuba. global weather of the jet in suspension opened that up to extraordinary review. the death toll has risen to 111 after one of those survivors monday afternoon. the other two remain in critical condition. finally at an airport in san antonio, and must be escaped his cargo crate and we have the video to prove it. hanging around in the baggage area. they tried to quarter the animal for nearly two hours at american airlines which agreed to
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transport the money says he has been captured and is on his way to a new home in a primate sanctuary. but he had fun. gerri: monkeys and baggage return? i don't know. let's move on. home prices continuing to march higher in the heart of the spring biases and gas prices continue to have higher. what will be the fallout for consumers looking to buy a new home and keep to their budget. pwc partner mitch roschelle joins me now. thanks for coming in. as we start to look at this, we get lots of data on the housing market with their own earnings today with the disappointment of the revenue beating expectations that existing home sales come a new home sales for april out this week and both are expected to move lower. do you think raising mortgage rates are hurting the market? >> i don't think so.
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i think the reality is the demand for housing sees prices going up. now worried about what could be a point increase in housing prices. what's interesting is if you compound that with inflation but what we see in oil prices and that will offset benefits from tax reform. at some point will hit a breaking point, but maybe a silver lining. more demand for housing the new supply. gerri: thought that way. those mortgage rates are higher at the highest level in seven years. for the dramatic. one of the things pushing higher things like inflation, labor, land. describe, explain. >> i've been meeting with home builders really all your from texas to california across the country. the number one complaint i have is they can't find skilled labor. the hurricanes really zaps the market in terms of taking labor and getting them to work in
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rebuilding. this is a multiyear issue. we lost construction workers and labor is one of the biggest components. from a commodity perspective with a trade back and forth with canada, lumber costs have gone up and those are the two key component in basic housing america. when costs go up, builders don't build. >> you started to bring up the thought of inflation in gas and oil prices. gas prices closing in on $3. forty-one cents over three months. expected to rise higher. what you see for gas prices and how will this affect consumer spending? >> a little bit of a wait and see. the upward pressure on gas prices is certainly there. we've got opec keeping supply low. synchronize lung growth in the economy putting pressure on demands. we can see oil at $100 by the end of the year some analysts
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have reported. if that means we're up $4 for a gallon of gasoline, the consumer will feel about. that is virtually doubled. we are 50% since last summer and if it hit the end of the year up 100%, the consumers can start to feel it. >> attacks really on consumer budgets and clearly could have a big impact on consumer spending when after all is three quarters of gdp. thanks for coming on. great to see you. >> thanks for having me. cheryl: lebron james said in another in nba history. we are going to have your sports highlights. that'll be fun coming up. facebook ceo expected to get grilled by e.u. officials for your enjoyment later today. taking a look at stock market futures under tuesday. keep doing what you're doing yesterday about us buy stocks. s&p a 4.5, nasdaq up 22.
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cheryl: welcome back. after being down 20 to start the series, lebron james and the cavs have come barreling back. kevin love watching the hail mary pass making the basketball court look like a football field. lebron had a midnight made in postseason play. 111-2102 of this series is now tied at two. snakeheads will be turning to
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game four between the warriors and the rockets. the series two to one. washington capitals to live in hockey. the force of game seven. the winner got this going to be crowned eastern conference champ for the stanley cup. transfer of the golden egg. the yankees launched two of them from rookie sensation torres. aaron judge also sending the ball to dead center. the yankees have now had four more home runs. i understand the first time in franchise history. the rangers sent five come in taking a in the al east. this is a great story. his first major-league start. 19-year-old juan soto. look at that.
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for the washington nationals first pit out of the tire. the three-run opposite field traveled 426 feet. received major when he returned to the dugout. look at that. that's so cool. train to start my day like that. a good video. interesting day for facebook ceo mark zuckerberg continuing the apology tour. we are going to get a preview from london coming up. he's not a i'm very proud of the fact that i served. i was a c130 mechanic in the corps, so i'm not happy unless my hands are dirty. between running a business and four kids, we're busy. auto insurance, homeowner's insurance, life insurance policies. knowing that usaa will always have my back... that's just one less thing you have to worry about.
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so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. >> with regard to the tesla i think think it will go largely the same way the u.s.-led. e.u. lawmakers will want to know how they managed to get a hold of the data being used in such a malicious or potentially malicious manner. how are why facebook responded as they did once they found out about the breach in the use of
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the data and why they didn't follow it more seriously, why they didn't notify clients that their data had been used in a manner people were not aware of. since then to ensure that it doesn't happen again. these are all very legitimate questions. the problem lawmakers have is they were extremely well-prepared for the testimony. and not directly answering the questions saying he would respond at a later time. the question for me is every going to get anything new out to the testimony and i just don't think we will. >> let's move on. china will cut duties on passenger cars from 25. but it really looks like this is going to help a handful of foreign automakers. it's not like a broadbrush impact for the auto industry here in the u.s.
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what you see happening in the market today because of this announcement? >> carmakers are clearly going to benefit from this. they are going to see some benefit as well. i think it will be not just the u.s. benefit. europe and asia as well. some higher-end carmakers and things like tesla as well. currently manufacture in china i think could benefit quite greatly as well. i guess the question about we are going to see now is how much of a token move this isn't how much of a significant impact to actually have on car imports. >> raider alum, great to have you. thank you very much. gerri: now it is time for maria bartiromo. joining martens at the rear now. >> happy tuesday. thanks so much. i am maria bartiromo. tuesday, may 22nd. 6:00 a.m. on the east coast.
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easing trade tensions. china has announced overnight but it will cut tariffs are cut tariffs on ottawa imports. u.s. and china have an outline for a deal over chinese telecom giant to dte as well. white house economic adviser larry kudlow hinting yesterday what was on the table. >> if anybody thinks that any changes are going to let them off scott free, they are wrong. you're attaching large bonds, huge compliance, change of command. lately, we are where of all of that. trejo closer look at the deal. market to extend the games yesterday. features with another strong open up 50 points on the dow jones industrial average extending yesterday's big rally. the dow rally in 300-point in yesterday's trading session closing about 25,000 you do not like in the s&p 500 with strong gains on the day as you can see. europe this morning make stories take a look.
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the dax index up six and seven points but the cac in paris is down four points. asia overnight, the hang seng the hang seng and the cost be closed for holidays. shanghai composite flat. down just a fraction. facebook ceo mark zuckerberg make another stop on his apology tour. this time before the european parliament. how he is expected to address the data privacy scandal in europe this morning. the report says it cannot recommend the automakers by a three sedan. starbucks outlining some grand rules for its new facilities policy. what will it will not be allowed when hanging out at one of the companies cafés. they spoke out about their concerns. they will attribute. chris terry and meghan markle's wedding unveils. have they honored princess diana as well. on those stories coming up tuesday morning. fox business


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