Skip to main content

tv   FBN AM  FOX Business  June 1, 2018 5:00am-6:00am EDT

5:00 am
and that did not get nearly enough attention as it should. lou: that's on trey gowdy. jason, thanks so much. mark, appreciate it. >> let me be clear, these tariffs are totally unacceptable. for 150 years canada has been the united states' most steadfast ally. cheryl: breaking this morning, u.s. trading partners denouncing u.s. tariffs on steel and aluminum that take effect today, europe, canada and méxico say they will retaliate with tariffs on u.s. products on motorcycles and whiskey. cheryl: trade war with selloff yesterday with the dow sinking. cheryl: investors starting a new month. right now futures actually
5:01 am
looking pretty good, dow up 76 in premarket. s&p 9, nasdaq up 20. gerri: europe stocks opened higher on news that italy antiestablishment parties have struck a deal to form a new government finally ending 5 days of political chaos. the ftse up 47, cac quarante 57 and dax up 102. cheryl: over in asia mixed picture. but higher hong kong and green number in south korea as well. gerri: facebook ceo mark zuckerberg faces a tough crowd of shareholders warning about, quote, corporate dictatorship at the company. fbn:am starts right now. ♪ ♪ cheryl: 5:01 a.m. in new york, friday june 1st.
5:02 am
good morning, everybody, i'm cheryl casone. gerri: good morning, i'm gerri willis in for lauren simonetti. breaking news this morning, global trade tensions rising as u.s. allies swiftly pledge to retaliate against the trump administration's tariffs on steel and aluminum. cheryl: edward lawrence in washington, he has details. >> good morning, seems like we are dealing with trade squirmish. tariffs are meant to put pressure on all talks. canadian prime minister justin trudeau addressed the nation that it's not just a bleep in
5:03 am
the relationship. >> the argument that canadians steel that is in american armored cars, canadian aluminum that's in american fighter jets could somehow be a national security risk becomes even more absurd when one tries to apply it to cars or car partsz made in canada. >> canada matched the u.s. tariffs at 25% on steel and 10% on aluminum but they also added 10% ta rays on other items, sleeping bags, yogurt, house ways and means committee, the tariffs are hitting wrong target when it comes to unfairly, méxico, canada is not the problem, china is. peter navarro say that is give one country a preference and china dump it is steel and aluminum through that country into the u.s. >> the other countries should respect two things, sovereignry
5:04 am
and the tight of this president to respect country to have aluminum-steel industry, number two, the country should acknowledge that they are the ones who are also running very large trade surpluses with the country at the expense of jobs here in america. >> the european union announced real tear tariffs. south korea, australia, argentina and brazil. back to you. cheryl: well, a top north korean official set to visit the white house today to hand letter from kim jong un to president trump. that official kim jung. >> 2 and a half hours they talked. the president playing down a chance of quick breakthrough. >> i want it to be meaningful. it doesn't mean it all gets done in one meeting, maybe you have
5:05 am
to have second or third. maybe you will have known. cheryl: secretary pompeo noted, if north korea denuclearizes, secure and prosperous korea integrate intoed the community of nations. cheryl: italy is swearing a new government today after 5 days of political chaos, two large antiestablishment parts, the league and five-star movement struck a deal on coalition government, the move resolves political crisis and revives stability of the euro zone and third largest economy. live reaction in the job. gerri: job's friday, economists forecasting 180,000 jobs created last month, up from 64,000 in
5:06 am
april. the unemployment rate expected to hold steady at 3.9%. wage growth to rise 2.7%, a bit of a bump, it would keep the federal reserve on pace for rate hike later this month, of course, we will have complete coverage on mornings with maria starting at 8:00 a.m. eastern. cheryl: mark zuckerberg is back in the hot seat this time answers to tough crowd of facebook shareholders. gerri: tracee carrasco with more on that and other headlines. tracee: mark zuckerberg faced tough questions where investors we wanted to discuss how facebook failed them and users over the past year, zuckerberg repeated proms he has made lawmakers that facebook would take broader view of responsibility and would be more, quote, proactive in dealing with problems, it was a tough crowd there.
5:07 am
>> governance issue applies to a lot of companies in silicon valley. i can't wait to see how it plays out. you have a great vegas story and wages. >> 50,000 union workers at cesar's palace, bellagio and are ready to go on strike, they couldn't agree on terms and issues like wages, training, sexual assault by guests and the fear of some positions of being replaced of robots an automation, so far to date or start time for strike has been set but this would be a pretty big one. cheryl: casino companies are telling shareholders, done worry, we will come to an agreement, nothing yet. will, you can make an easy 10 grand if you're willing to move up north? tracee: yes, could be interesting, we will see. you ever thought about moving to vermont, governor phil scott
5:08 am
just signed a law that may make it enticing, remote workers who move to vermont and make it homable will be eligible up to $10,000 of moving expenses and other costs. state officials expect that will lure out of state workers to trade office for vermont home office or maybe coworking space. looks beautiful. gerri: i have to say, i'm looking -- tracee: can we take the show to vermont. cheryl: maybe casino workers can go to vermont. if you're unhappy. gerri: desert to mountains. tracee, thank you. president trump uses power to pardon danesh dsouza and has more pardons in mind. you won't believe how much special counsel mueller has spent on russia investigation, it's your tax dollars, people, u.s. stock index futures looking
5:09 am
higher, shaping up to dow 89, s&p 10, the nasdaq up 22 and a half, you're watching fbn:am. with a double palm grab. who has the upper hand now? start winning today. book now at we always came through for our customers. from day one, it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo.
5:10 am
but it's a lot like our first day. wells fargo. established 1852. re-established 2018. this is a tomato you can track from farm, to pot, to jar, to table. and serve with confidence that it's safe. this is a diamond you can follow from mine to finger, and trust it never fell into the wrong hands. ♪ ♪ this is a shipment transferred two hundred times, transparently tracked from port to port. this is the ibm blockchain, built for smarter business. built to run on the ibm cloud. ♪(somber piano) ♪you may say i'm a dreamer
5:11 am
♪but i'm not the only one ♪i hope some day you'll join us♪ ♪and the world will live as one♪
5:12 am
cheryl: welcome back, let's get you caught up on what's happening now. take a look at u.s. stock market futures, looks like we have green arrows on job's friday. right now the dow is up 87, the s&p is up by 9 and three quarters, nasdaq is up by 21 and three quarters, we will see what those numbers give us and we will see if the markets react in positive way. well, temperatures of the lava that's bubbling from hawaii's mount kilauae volcano is measuring 1600-degrees, most fluid since eruption four weeks ago, so far destroyed 82 homes and other structures on hawaii's big island. well, president trump has pardoned conservative commentator danesh dsouza, pleaded guilty to violating campaign finance laws and president trump that he has been treated unfairly. he's considered pardoning martha stewart who lied federal
5:13 am
investigators in 2004 and commuting governor, what does that? it's been a while since i said that name. [laughter] cheryl: sentenced for 2011 federal corruption conviction and then special counsel robert mueller's russia probe has spent nearly $17 million of taxpayer money, new doj report saying the department spent 10 million between october 2017 and march 2018 alone and the biggest expenses were personal compensation rent and travel. mueller's office said spending was within approved budget. the president has long labeled the investigation a, quote, witch hunt and expensive one. gerri: who approved those budgets, not us, that's for surement let's talk about weather settling across the
5:14 am
country. fox senior meteorologist has the forecast. janice: potential for severe weather today. look at storm reports, hundreds of reports of hail and damaging wind and tornadoes across the how river valley as well as the system that's moving across the northern rockies, today's threat across central u.s. again, we are looking at potential of heavy rainfall as well as isolated tornadoes across central plains all the way downs to portions of central u.s. potential for large hail damaging winds and isolated tornadoes this afternoon and evening, we will be watching that. know what to do if there's a watch or warning in the area. across the rest of the country, hot, hot over the south. will remain warm as weekend, phoenix over a 100-degrees this weekend and unsettled weather continues for the eastern third of the country including new
5:15 am
york city, i don't think it's going to be a wash-out here over the weekend but we could see scattered showers, have a wonderful weekend, ladies, see you monday. cheryl: thank you, janice, coming up, have we answered into a strayed squirmish or full on trade war. what's the market impact on that. has the italian ceo of fiat chrysler has put the stake in the heart of american icon? we will talk about the death of chrysler. take a look at futures, dow is up 88, s&p 9 and nasdaq 42. you're watching fbn:am.
5:16 am
you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance.
5:17 am
5:18 am
5:19 am
gerri: strong reaction from trading partners, eu, canada and méxico all plan to go retaliate against the trump's administration new tariffs on steel and aluminum. mitch roschelle partner at pwc, welcome to you both, mitch, i will start with you, now, it's really trump against the world here, right, the eu, canada, méxico, all announcing retaliation measures, the trump administration 25% tariff on steel, 10% on aluminum and, of course, you probably heard yesterday, canada's foreign affairs minister christy, her country is responding dollar for dollar, listen. >> this is $16.6 billion of retaliation. this is the strongest trade action canada has taken in the
5:20 am
post war era. gerri: 16.6 canadian, 12.8 u.s. dollars. my question is how far does it go and what's next, more retaliation? >> most likely. it looks like a trade war, smells like a trade war and it probably is. perhaps it's the negotiating tactic of the administration to, you know, start strong and try to find a common ground, but the fact of the matter is we are exporter of services in our country, we have 250 billion-dollar annual trade surplus of services but the other side of the coin for goods is we have a trade deficit and i think what the president is trying to do balance that a little bit and leading with tariffs as negotiating chip. gerri: the whole world is in up radiotoday, we are not even talking about china. 7.5 billion on everything from steel to motorcycles, méxico
5:21 am
announcing tariffs on apples, berries, cheese. this responded to this yesterday where steel companies moved higher, what will the reaction be today, we are seeing index higher this morning, friday up or what do you see happening? >> i can't tell you what's going to happen by tend of the day, looks like the markets up response is more kin to what's going on in italy with the coalition government coming together and looks as if they will not in the short-term push to exit the euro which is the largest trading block in the world. so i think that looking at that and seeing how the market is reacting, i think that has more influence today than potential tariffs. gerri: that's interesting, whole debate about italy forming a government, it's euro skeptics out there. big question is what happens to the eu in the meantime but i want to get to economic impacts,
5:22 am
mitch, most economists believe that trade wars result in higher prices for consumers. we will see a lot of that. particularly bad time because consumers, workers don't seem to be getting the kinds of wage raises that we would expect, mitch, what do you see for the economy given what's wrong on with trade? >> well, you can just look at february and march, the top 10 cities in the country that are steel producer lost jobs in february and march as a result of just the thought and risk of tariffs, there's a direct impact when you start layering tariffs into the economy. it has direct impact on jobs, in fact, the chamber of commerce came out with a pretty scathing report yesterday say that there could be over 2 million jobs lost if we continue with this. gerri: wow. >> that has impact of the economy and it is job's friday. gerri: it is job's friday. i want to get to that quickly with gus.
5:23 am
3.9% coming up in this report due out at 8:30, 188,000 jobs, could we get a surprise here in could there be a wage surprise here? at some point wages have to go up, what do you say, gus? >> in the short term wage that is were going up were due to bonuses that were put forth by a lot of companies that are larger in scope and right now we are at a point where we are looking at basically you're looking at a lot of individuals that are able to slide by and when i mean by that, in the past you had to go for drug exam and things like that, they are lowering standard. we are at the point, full employment for lack of a better term and we think that you're going to have boyancey in terms of the markets going forward. gerri: a lot going on, we talk about job's report at 8:30. >> thank you. cheryl: coming up silicon valley and detroit are teaming up with some of the world's biggest
5:24 am
companies raising bets on driverless cars, we will talk about that. wal-mart in battle against amazon. taking a look at futures, it is job's friday and the dow is moving a little bit higher in premarket ahead of report, dow up 95, s&p up 10 and three quarters, s&p 10 jardiance asked: when it comes to managing your type 2 diabetes, what matters to you? you got a1c, heart, diet, and exercise. slide 'em up or slide 'em down. so let's see. for most of you, it's lower a1c. but only a few of you are thinking about your heart. fact is, even though it helps to manage a1c, type 2 diabetes still increases your risk
5:25 am
of a fatal heart attack or stroke. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit for adults who have type 2 diabetes and heart disease, significantly reducing the risk of dying from a cardiovascular event and lowering a1c, along with diet and exercise. this really changes things. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions.
5:26 am
man: ask your doctor about jardiance and get to the heart of what matters. benjamin franklin capturedkey lightening in a bottle.ardiance over 260 years later, with a little resourcefulness, ingenuity, and grit, we're not only capturing energy from the sun and wind, we're storing it. as the nation's leader in energy storage, we're ensuring americans have the energy they need, whenever they need it. this is our era. this is america's energy era. nextera energy.
5:27 am
>> let me be clear, these tariffs are totally unacceptable. for 150 years canada has been the united states' most steadfast ally. gerri: steadfast ally, breaking news this morning, u.s. trading partners denouncing u.s. tariffs on steel and aluminum that take
5:28 am
effect today, europe, canada and méxico all say they will retaliate with tariffs on u.s. goods. well, trade war sparking selloff, the dow sunked 251 points. gerri: optimism overnight as investors start a new month waiting for what's expected stlong may job's report. look at the dow, the nasdaq up 25. cheryl: taking a look at european stocks, higher on news of antiestablishment party struck a deal to form new government. 5 days of political chaos. all steadily in the green. gerri: dax on fire. over in asia, mixed picture with stocks but higher hong kong and south korea. cheryl: first the seats got smaller and then they took away the food, now the bathrooms are shrinking for airline passengers, what are they going to do to us next?
5:29 am
fbn:am continues right now. ♪ cheryl: almost 5:30 in new york. friday june 1st, good morning, everybody, i'm cheryl casone. gerri: good morning, i'm gerri willis for lauren simonetti. we all feel a little bit of frustration. cheryl: now you're going to shrink things even on us. gerri: i don't know how we cope. moving on the news now, today president trump will read a top secret letter straight from the desk of kim jong un. meanwhile a north korean delegation heads to washington after days of high-stakes talks with secretary of state mike pompeo. cheryl: ellison barber live in washington with what this means to the possible, maybe nuclear
5:30 am
summit. >> he's set to hand-deliver the letter to president trump from north korean dictator kim jong un. he's be the most senior north korean official to visit the white house in 18 years, back in 2000 top military leader delivered a letter to then president bill clinton from kim jong un's father, one of kim jong un's closest aides, many call him the dictator's right-hand man, former intelligence chief who was sanctioned by the u.s. because of the 2014 hack on sony pictures, u.s. secretary of state mike pompeo spent 2 days meeting with him in new york. a week ago president trump sent letter to north korean leader kim jong un canceling the highly-anticipated june 12th summit. the summit is still not officially back on but pompeo says there is progress. >> we have made real progress in the last 72 hours towards setting the conditions, the conditions are putting president
5:31 am
trump and chairman kim jong un where there can be real progress. it does no good if we don't think there's good opportunity. >> hopefully the summit happens in june 12th but want it to be meaningful. they might need a second or a third or none. the u.s. wants to see complete denuclearization of the korean peninsula but unclear if north korea will agree to that. last week they invited handful of journalists what they say was dismantling of test site, the studies say new satellite image that is were taken before the destruction of the site show north korea removing materials, international nuclear weapons, inspectors were not invited when north korea allegedly dismantled the site. cheryl: can we trust them? ellison thank you very much for the live report and the latest
5:32 am
there. for more on this, let's bring in military expert for defense priorities lieutenant colonel davis and political commentator eric rimer, gentlemen, good morning to you. >> good morning. >> good morning. cheryl: colonel, i want to start with you, the biggest issue, the sticking point denuclearization, right, i mean, the north koreans, president trump has said he wants this to happen in first term, the north koreans want this to be in stages as long-term process, the issue of trust is coming up again, colonel. >> right, it's going continue to do that, one thing it's really critical for americans to understand is we go into these however the talks end up going, distinction between america's absolute nonnegotiable requirement and preferred outcome and the distinction is important. the required outcome is the prevention of war and the ability of the united states to continue to prosper as nation and the president's ability to protect us. but the preferred outcome is to complete denuclearization, but
5:33 am
if we don't get that, our overwhelming military power and nuclear and conventional ability will keep the nation safe no matter what and the reason it's important if we set the preferred outcome is the needed outcome and doesn't happen for all the reasons that we are talking about here, then people will want to say, okay, the military option is the only outcome but the military option can't be used because that would be the absolute worst-case scenario. cheryl: absolutely. i think we agree across the board on both sides. i wanted to ask you, eric, the north koreans say they are in good faith and have the summit still appearing happening, they are meeting with the russians, now potential cooperation between the russians and the north koreans and you've got this new ballistic missile site that's been found in iran. so it's not like, again, the issue of trust comes up when they're kind of talk on both sides of the mouth and talking to people that frankly own a
5:34 am
military basis with enemies and that's russia and iran. >> precisely, we have seen over the detaidz when north korea has come to the table always try today play games and in bad faith, even though certainly here, there's a lot of hope for a solution to the problem. i think north korea's real goal is try to get more normalization , i mean, remains to be seen but i think they in the past have been very done a lot things in bad faith so there's still a lot of tension there, i think. cheryl: there certainly is, colonel, let's talk about the letter delivery today and we don't know what's in the letter but mike pompeo did say that he felt like progress was made with that north korean leader when they were here in new york having these discussions, whatever is in this letter do you think it's something to convince the president to actually go forward with the president? >> i think what the president is going to need to see that
5:35 am
there's the basis of having a conversation so that we have a shot at actually coming up with some kind of mutually agreeable outcome. we have seen the united states, of course, the complete irreversible denuclearization whereas apparently the thing that came out of the meeting with kim jong un, they want to see the ig which is that they're asking for security guaranties and so they have a different definition of it and the real negotiations is the difference between what we want and the what they want and that's what kim and president trump are going to have to see if they can come up with. cheryl: okay, we will have to leave it there, guys, thanks to both of you, we really appreciate it. >> thank you. >> thanks so much. gerri: breaking news right now. spain socialist pedro sánchez becomes the country's prime minister after mariano rahoy is voted out of office after no
5:36 am
confidence motion, triggered by a long-running corruption trial involving members of his party and, of course, the antieu sentiment sweeping all of europe. cheryl: populist movement, we know a little bit about that from this country as well. gerri: some of the world's biggest companies are racing bets on wireless cars. cheryl: tracee casual afl -- carrasco do we want to own one? tracee: softbank investing $2.5 billion in general motors, driverless car unit, waymo would buy as many 62,000mini vans from fiat chrysler to increase the number of driverless cars it has on the road in the years ahead. big movements there. cheryl: big move there, this is interesting, wal-mart is launching a text to order service for deliveries right? >> it's a little different than you might think.
5:37 am
i will explain. once again wal-mart stepping up e-commerce efforts starting a new same-day delivery service. jet service, $50 a month you can order items from wal-mart's website and other retailers like sachs, pottery barn, you will be able to text what you're looking for. the shopper will text you pictures of items that match and you the text back with your order. gerri: that's like a service, i love the idea. let's get to the story we have been talking about all morning, airline bathrooms getting smaller, it's not just the seats. tracee: can you even imagine smaller? just about everything, getting smaller on airplanes, gerri said, first seat, so why not the bathrooms too? american airlines will debut new 24-inch wide bathrooms on its brand-new boeing 737 max airplanes, the single-aisle
5:38 am
plane 156 economy seats and tinny bathrooms. first were used to laguardia to miami route, that flight 3 hours. cheryl: that's waste size. tracee: you can't wash hands comfortably, it's awful. gerri: american -- tracee: a lot of people come plaining about this. cheryl: delta, united don't do this. gerri: comedian samantha bee apologizing for vulgar rant to ivanka trump, she gets to keep her show. stake in the heart of american auto icon, we will look at the death of chrysler. u.s. stock market futures, dow opened 120 points, s&p 12 and a half, nasdaq up near 26.
5:39 am
you're watching fbn:am.
5:40 am
♪livin in this crazy world ♪so caught up in the confusion♪ ♪nothin' is makin' sense ♪for me and you ♪maybe we can find a way ♪there's got to be solutions ♪how to make a brighter day ♪what do we do? ♪we've got to give a little love♪ ♪have a little hope ♪make this world a little better♪ ♪try a little more ♪harder than before
5:41 am
rights protected by law. and you've got the power to make sure those laws are followed. take fair housing. it's illegal to refuse to rent to you because of your race, color, religion... sex, national origin, disability or familial status. and you have the power to stop housing discrimination. to file a complaint, go to or call 1-800-669-9777. gerri: welcome back, let's get you caught up on what's happening now.
5:42 am
checking u.s. futures. nasdaq up 26 and a half. comedian samantha bee has apologized after vicious attack on ivanka trump, as a vulgar prd auto trader and state farm insurance to split from the show full frontal. bee was given award for social change and told the los angeles crowd that the media should focus on the nation's treatment of immigrant families and less on, quote, one bad word. bee tweeted apology earlier in the day, i would like to aapologize ivanka trump, i crossed the line and i deeply regret it. why bee's show is still on the air, some are drawing comparisons by comments on roseanne barr. roseanne tweeted this.
5:43 am
i told them i was willing to do anything and ask for help in making things right. a lot going on there. house majority leader kevin mccarthy blasting google for listing naziism as ideology of the republican party ahead of the state's primaries. mccarthy called the listing latest attempt by a tech company to silence conservative voices and opinions, meanwhile google is blaming the label on system error, google saying sometimes people vandalize service, but occasionally those errors get through. a lot going on, cheryl. cheryl: no kidding. response from googlement once a struggling brand and chrysler was brought back to life by former ceo lee. >> i have one and only one ambition for chrysler, to be the
5:44 am
best. in the car business product comes first and product is what brought us back to prosperity. cheryl: product taking a backseat, it's happening right now in italy, monitoring it. joining to discuss fox news do you mean gary, you have been monitoring with headlines coming out of italy. he's expected to say that chrysler is going to be no more, end of era. >> 5 years ago in the meeting chrysler was supposed to be the biggest thing for chrysler. 8 models, compete with ford and chevrolet, instead they have two models right now and one of them the chrysler pacifica, i don't think people would miss it very long, you can rebrand as dodge.
5:45 am
that also seems to be taking the backseat to the other brand's ram and jeep and mazarati for the moment. cheryl: he's talking about jeep and mazarati, overall positive message to investors but what does this say as sergio gets ready to retire? this is his last kind of hurah killing chrysler? >> sounds like it. probably less than killing chrysler but jeep expansion has been huge. they are asking to adding electrification and autonomy. that's one step beyond what tesla offers right now. take your hands off the wheel. cheryl: you'll be doing it live. they have the partnership with waymo, they are going to that, to your point, technology
5:46 am
driverless, not driverless but autonomous driving of the vehicles, do you think that's where they will focus effort? >> autonomous vehicle that is they will build for waymo, some could use waymo's technology, we will see a lot more. waymo, apple providing technology to other automakers so they don't have to develop it themselves, off the shelf technology that brands will be able to buy. cheryl: 90 years of chrysler, iconic american brand that all of us grew up with. what other changes do you foresee coming in the auto industry besides the more technology with all of the vehicles that they are using. >> you might see fiat go away because people are not buying cars anymore. general motors will keep building sedans, the whole shift towards suv's and that puts jeep
5:47 am
and ram as far as fiat chrysler is concern. cheryl: what's the name, what do you call company? >> retraction of the fiat brand as well as overseas. who knows, maybe fiat or markioni brand. cheryl: i know you will be covering for fox business, thank you for coming in, appreciate it. gerri: gary, great reporting, did this mistake cost lebron and the calves game 1. jared max with highlights and which word crowned this young man's as spelling bee champion. can you spell it. we will tell you, u.s. stock, dow up 121, the s&p poised to open 12 and a half and the nasdaq up only 25. you're watching fbn:am. brighthouse financial
5:48 am
allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at
5:49 am
5:50 am
5:51 am
gerri: welcome back to fbn:am, well, game 1 of nba finals is indication, we are in for a treat in this series. cheryl: jared max, had a little bit of everything. jared: including a little bit of everything, little bit of suit pants that lebron james wore to oracle arena. he played the game like he never had in the final, best 51 points, he made 19 of 32 field goal, 51 for lebron. 11 more than starting 5
5:52 am
combined. worry yours with attack, steph curry, steph scored 29, thompson 24, final two minutes, the lead changed hands twice. the last time it was tied. cavaliers jr smith appeared to believe cavaliers had the lead. watch this, george missed second free-throw attempt. jr smith dribbles out toward half court. no time out, he could have pass today lebron or take a shot to win the game, dribbled the ball out. the calves office of late pass didn't produce shot and smith was seen on camera, i thought we were ahead. he knew the score, jr big blunder cost the calves dearl, outscored by 10, warriors win it 124 to 114. things got chippy in the end. the next game sunday. if you had the cavaliers in 13
5:53 am
points, next week we can say delaware line, the first state of the union set to become first state in nevada to offer single game and championship weigherring. next tuesday at three locations june 5th, he think it is nba is due a loyalty fee. all right, let's get into real sports now, can you spell -- can you spell the word koinonia? i can't even say it. watch this. >> koinonia. >> that is correct. [cheers and applause] jared: karthik from mckinney, texas. when somebody wears a pink
5:54 am
dress. [laughter] cheryl: jared max, fox news headlines 24/7, siriusxm 115. gerri: coming up major u.s. trading partners retaliating against u.s. tariffs on steel and aluminum, what is the mood in europe, we will go life live to london to let you know. [music playing] (vo) from day one, we always came through for our customers. it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. 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.
5:55 am
5:56 am
5:57 am
gerri: breaking news moments ago as spanish lawmakers voted out mariano rahoy and voted in a socialist. joining us peter dixon at commerce bank. what's going onto spain and is this concerning to the markets? >> well, it's basically a corruption scandal which seems to have embroiled the prime minister, a vote of no confidence has been scheduled for some time, i guess, and no surprise ha rahoy finally lost. it's not really causing -- but given that we have problems in italy, i think there are riding concerns of the european problems which is plagued the europe in the past decade. cheryl: we want to ask you about italy, so is italy at least for
5:58 am
now kind of off the worried list? >> off the worried list, they'll be no second election. i think many of the problems in italy still remain. it's still a populist government, large parts of the rest of the eu. over the course of coming months, possibly years, we have to see whether the tensions within the euro zone continue to mount. gerri: peter, quickly, we have been focused on the whole issue of trade, the concern maybe passing this morning as we see u.s. indexes moving higher, what is the feeling in europe? >> well w i mean, i guess this is something it's a small skirmish at the moment. the u.s. has made position clear. the eu has retaliated with some might beer tariffs on bourbon and as long as it stays at that level i don't think we have too much to worry about.
5:59 am
let's hope it doesn't escalate. cheryl: peter, thank you for having you on friday, thank you, sir. gerri: time for maria bartiromo, we will send it over to her. maria: good morning, everybody, happy friday to you, i'm maria bartiromo and it is friday june 1st, top stories right you 6:00 a.m. on east coast. markets looking to start on upbeat note. look at futures, 115 points on the dow, up 22 points on the nasdaq, that's a third of a percent higher, this coming ahead of the may's job report this morning, we are expecting as economists looking for 188,000 jobs added to the economy with unemployment rate holding steady, we have preview in big job's report coming up. it comes after rough day for stocks, trade wars weighing on investors, this morning we see dow industrials, yesterday down 251 points, major indices closed lower but for the month of may they posted gains across the
6:00 am
board despite that 20-point selloff in the nasdaq yesterday. political uncertainty becoming more certain. spanish lawmakers ousted the country's prime minister last hour. the ftse up and in asia overnight, mixed performances take a look. worst performers in shanghai, china index down two-thirds of a percent. hang seng and kospi were higher. the threat of trade war happies up. retaliation coming, the u.s. is facing retaliation after the trump administration hit allies including the eu, canada and méxico. here is reaction from canadian prime minister justin trudeau. >> these tariffs are totally unacceptable. these tariffs are in front to long-standing-security partnership between canada and the u


info Stream Only

Uploaded by TV Archive on