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

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inaction in the senate. our president can't get his agenda passed under the circumstances. >> we all know they are having -- they are here without their families and i want to thank you for your hard work, your compassion and your kindness in difficult times. >> breaking news this morning, first lady melania trump making surprise trip to the border but visit at facility has migrant children nearly overshadowed by jacket she wore. >> car makers as well as technology and industrial companies fell as investors focused on the u.s.-china trade tensions. gerri: taking a look at future, dow industrials po pois 112 points higher, nasdaq up nearly
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28 this comes as heels as what's been a lackluster trading day. tracee: nice turnaround there. asia, nikkei pointing down. shanghai and kospi both pointing up. gerri: across the pond in europe, let's take a look there. all markets higher. dax up nearly 46. tracee: supreme court ruling states can collect sales taxes. what the discussion means for ♪ ♪ tracee: gerri, we made it. gerri: we made it. it's friday. lots of news breaking today beginning with big immigration
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story, we begin right there at the border, trump administration says 500 of more than 2300 children separated from families at the u.s.-méxico border have already been reunited in last month alone but it's not clear how many of the roughly 500 children are still being detained with family. president trump signed executive order wednesday that ended family separation at the border but the order has raised questions about how quickly the government can find facilities to house these families together. tracee: fist lady melania trump making surprise visit at southern border, fox news correspondent ellison barber in washington with more. >> the first lady visited the u.s.-méxico border on thursday in shelter where migrant children are being detained, instead of talking about visit, much of the attention seems to be about her wardrobe. first lady melania trump ignited fire storm at she boarded plane.
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the phrase, i really don't care, do you. it reappeared as she arrived at jba, first speks person insists there's no hidden message and president trump tweeted, refers to fake news people. the order would allow the administration to keep participants and their children in detention together until immigration or criminal proceedings play out. plan faces legal hurdles and leave many questions unanswered. for instance, the president did not offer clear plan to reunite the 2300 children already separated from their parents. >> president trump hasn't taken care of the problem not by any stretch of the imagination. >> president trump says executive order is good but limited. >> but the only real solution is for congress the close the catch
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and release loopholes that fueled the child smuggling industry. >> the department of defense says homeland security asked them to determine, quote, capabilities to provide up to 20,000 temporary beds for unaccompanied alien children at dod installations. a spokesperson for the pentagon told dod will federal partners, health and human services visited migrant housing options, three in texas and one in arkansas. the spokesperson says it does not necessarily mean any or all children will be put there. washington, d.c., i'm ellison barber, fox news. >> so many unanswered questions, add to go confusion republican leaders are delaying vote on compromise immigration bill. vote was supposed to take place last night and delayed till friday and now next week.
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leaders decided to punt. >> we are going put the vote off until next week and this will give us time to work out differences. but this is one of the better if not best conferences i've been to where everybody is trying to come together as a team so we can get to 218 and get us across the finish loin. >> the xrmize would provide path to dealership while keeping migrant families at the border and provide for more security there. we will have more on all of this later in the program. tracee: house did accomplish one thing yesterday, narrowly passing farm bill, controversial work requirements for food stamp recipients to overhaul the country's welfare system, 213 to 211. senate is expected to vet on its own version to have bill which funds crop insurance and payments to farmers when prices
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or revenues drop. president trump praising the house's decision in a tweet. there is on your screen. farm bills passed in the house, so happy to see work requirements included, big win for farmers. gerri: tough talk on trade between u.s. and europe, now hitting home. european union tariffs of more than $3 million in american products, harley davidson motorcycles, levi strauss genes, those -- jeans, this is all coming as trade dispute between the u.s. and china continues to heat up with president trump threatening to impose up to $450 billion in tariffs against china. tracee: shopping online will soon get more expensive. supreme court ruling that states can now require online retailers
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to collect sales tax on purchases even from state where is they don't have any shops offices or warehouses. shoppers will see changes depending on both where they live and how quickly states act. president trump praising the decision, retailers also welcoming the news saying it creates a level playing field. stores like wal-mart says it creates a level playing field and online retailers will no longer have pay tax advantage. later, more later in the show. tber gr i don't like to see it. ready for anything, all 35 of the nation's largest banks have passed the first round of fed's annual stress test which has been mandated since 2008 financial crisis, measures the health of institutions in the event of economic downturn, the fed said it simulated adverse conclusions, that's what they call it for the banks including global recession and u.s. unemployment rate of 10%, it's just pretend. it's third year in a row that
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banks passed, the fed will announce next which banks will be allowed to increase dividends. tracee: just a week after closing the time warner deal at&t has waste nod time to roll out own streaming service. cnn, cbs and tnt, held in court for months after the justice department tried to block it. the new service will be available for just $15 and comes with free, free with at&t's recently announced unlimited data plan. shares of at&t are down 17% so far this year. >> gerri: we have to mention this this morning, we are remembering a distinguished member of the fox family member this morning, long-time news con trub identitior an columnist charles kreithimer has died and he was being treated for cancer,
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all met krauthammer, charming, warm brilliant man, she shared with us, real inspir sooción to many at fox. vice president mike pence tweeting this, charles krauthammer will be remembered for eloquence and contributions to political thought. karen and i send condolences to family and friends during difficult time, dead at 68 and we will be right back. day. book now at lq.com. so i'm not happyhanic in the corps, unless my hands are dirty. between running a business and four kids, we're busy. knowing that usaa will always have my back...
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gerri: welcome back, let's get you caught up on what's happening now. checking u.s. futures. all green across the board. good start to friday. the s&p 500 up 13. the nasdaq up 26 and a half. losing access in interview, attorney general jeff sessions says fbi agent peter strzok has lost security clearance. mr. strzok is the counterintelligence agency at the center of trump bias accusations at the fbi when it was found out he had been sending antitrump text messages to his girlfriend lisa page. unbelievable. former nsa contractor reality winner reportedly entering a guilty plea over leaking classified information to news outlet. winner was charged under espionage act after she alleged
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handed over highly-sensitive material involving russian involvement in 2016 hearing. plea hearing on tuesday in augusta, florida military. hit by alabamaers, flashes contemporarily blind pilots, officials say all incidents in and around east china sea where the chinese military operate. here is a big story, uber drivers hitting it big-time, ride-hailing service said drivers made $600 million in tips since instituting tipping last year, people give more on friday, saturday and sunday. tracee: i wonder why, over the weekend. supreme court cleared the way to collect taxes on
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internet purchase, major prize advantage, e-commerce mother chapts had -- merchants, resource group mitch roschelle of price-waterhouse cooper. who are the winners and losers here in. >> the winners are every member of national retail federation which affirmed the decision as very courageous, constructive, it's very proconsumer because some taxpayers isn't subsidizing the other taxpayers with local budgets on uncollected taxed and amazon on 1 and a half percent of all-time high.
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>> you still have to pay taxes when you buy online, it'll be interesting to see how it unfolds, the convenience factor of buying outline will be outweighed because sales tax aren't held in point of sale. the real winners min cippalties who will levy point of sale. tracee: no one wants to pay more taxes. will it drive people back to brick and mortar stores? tracee, it will bring people back to brick and mortar stores. everyone will benefit. amazon will continue to grow at double-digit rates, maybe few percent less can compounded rate of 25% but as mitch presently
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pointed out for municipalities that count on sales tax for 625% -- 65% budget and times pointed out, albuquerque, cedar rapids, budget sales tax depending and it will help save a lot of shopping centers and anchor retailers. it's proconsumer, it's commercially and ethically and economically a very good decision by justice kennedy supported by ruth. tracee: what kind of broader impact do you see this having on the economy? >> the entire playing field between e-commerce and brick and mortar called stick and brick retail. the balance needs to be reshifted, so i think that helps
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the economy many retailers are small businesses, you can look at the big-box names, the fact of the matter is retailing is very much a mom and pop, small business, if this helps them, that help it is overall economy create and sustain jobs. tracee: burt, so we saw major reaction, wayfair, ebay, talk us through, why do you think this was? >> it's a temporary dropdown, tracee, that wayfair which was bragging in a session we had at cornell university where i teach, where they were honored as entrepreneurs of the year last month, they were bragging about not paying sales tax, they will continue to grow at normalized 45 to 50% rates. they will continue to grow, all online retailers will continue to prosper, the only thing that will slow them down is traffic density and shortage of truck drivers across america and bricks and mortar retailers as
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mitch said will win and the municipalities as mitch referenced, it's critical to save them in states that are in financial distress from connecticut to california be saved by sales tax collection as well. tracee: all righty, burt, mitch, we will have to leave it there, thank you for joining us today. gerri: i don't want to pay more tax, i don't like it. well, it's not all about me. more severe weather expected in texas after state was hit by worst flood than hurricane harvey, janice dean is next. and now abc ordering a spin-off, details just ahead. let's take a look at u.s. stock index futures, dow up 133, s&p up 12, nasdaq up 27, you're watching fbn:am. i'm to your bumper, cause....
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gerri: it's official, abc announced they are giving green light to spin-off of roseanne will show the connors except roseanne. connors set to debut in the same slot that roseanne spot. tracee: rough couple of days in texas. greg abbott issuing emergency
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evacuation. gerri: before you head out the door, let's get a look at the weekend weather with fox senior meteorologist janice dean. how is it looking out there? janice: happy friday. rain in forecast for folks, the good news for texas we will dry out because we have seen incredible amounts of rain and flooding, 67 in new york. we have got this stall front and along the stall front is where we see potential for not only heavy rain but severe storms and we had severe storms including yesterday including tornadoes parts of midwest as well as northern rockies, here is severe threat today, large hail, damaging winds, isolated tornadoes in the areas that you see here. millions of folks need to know what to do if there's watch or warning, we will see potential for heavy rain over the next couple of days for parts of mississippi river valley, mid
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south and mid atlantic area that have seen a lot of rain say in the last couple of weeks. forecast today again, showers and storm, part of south, ohio river valley and it's going to be hot, hot, hot in the southwest. they are typically use today this but this is dangerous heat with well over 100-degrees here for the next couple of days and with the heat index it's going to feel even higher so heat for the areas. happy friday, ladies, have a wonderful weekend. gerri: janice dean, glad to hear about texas. janice: of course, you've got it. you too. tracee: first lady melania trump making surprise visit to border facility but much of the attention seems to be on her fashion choice. first, we will take a close look at tensions between washington and beijing continue to weigh on
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gerri: breaking news this morning as the immigration debate intensifies, house republican leaders are delaying a vote on a compromise immigration bill. tracee: dow slipped for the eighth day in a row, car makers as well as technology and industrial companies fell as investors focused on the u.s.-china trade tensions. gerri: let's take a look at dow futures, all in the green, s&p
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up 13, nasdaq up 28 and a half. looking good this morning. tracee: looking great. let's look at asia, nikkei pointing down, kospi all pointing in green. gerri: in europe across the pond we are seeing green as well. ftse, cac, ftse looking the best at 52. fbn:am starts right now. ♪ ♪ gerri: 5:29 a.m. in new york, friday june 22nd, good morning, aisle gerri willis. tracee: good morning, i'm tracee carrasco. gerri: a lot going on this morning. let's get right to it. advocates scrambtology try to reunite hundreds of children separated from their families at the u.s.-méxico border even though president trump ordered
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end to separations, sharp divisions remain in congress forcing republican lead toaster push to next week, vote on compromise immigration bill. >> we are going to put this vote off until next week and this will give us time to work out our differences, we have a lot of different. gerri: will a week be enough to work out differences, welcome to you both, great to have you, guys, here. let's just get, dive right into this, already this morning we are reporting that a lot of the kids have been returned to their families, many of them, hundreds of them, in fact, i think the real problem this morning is congress, this is not a group of people known for moving fast, man, what can we expect out of them? >> gerri, you're absolutely right and having been in the house republican conference,
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diverse opinion within the conference, they are all driving towards the same thing, they want to honor the four pillars that the president layed out. we want to provide for the daca beneficiaries, we want to provide border security, for the wall, full funding, we want to end the visa lottery and modify significantly chain migration and now we have the increasing urgency of making sure that with deal with those seeking asylum more promptly so they really need to move on this. gerri: well, need to move and do move are two very different things for the congress as you know, but let's just get to details of that immigration bill that's in the cross hairs right now, details here included in the bill that ends separation of families, there's 23.4 billion for both the wall and security at the border, not included and this is what conservatives don't like the e-verify system to check workers' immigration status, but mustafa, i want to
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get to this, executive order issued by@is causing confusion, will there be enough housing for detainees, what will happen to the children that have been sent to foster homes, seems to me like we have more questions than answers this morning even though the president, you know, gave out a pretty emphatic executive order? >> well, the president likes signing executive orders but doesn't have any details behind it. he did it in a rash way, he didn't really outline how the 2300 kids that are separated from their parents would come back. didn't talk about what would happen going forward, there are a lot of details in -- in governing that take place that should be thought through because your action affect people's lives, we can't govern by sound bites, if you govern you have to understand that what you say, what you do really impacts everyday americans and people around the world. ger gr i agree with you on that sound bites on both sides of the aisle, everybody sounding off about something. i do though want you to hear
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something from congressman steve scalise, listen. >> you saw wide range of republicans voting yes. you didn't see one democrat voting yes, clearly democrats don't want the issue, they want to keep exploiting kids and other people. we want to solve this problem. gerri: anne can any democrats sign onto this, support any of this or use this as whipping post? >> gerri, they should sign on especially compromise bill because sounds like the compromise bill is going to contain the daca provisions for eventual path to citizenship. if you look at democrats, senator feinstein and schumer over the years they have advocated for stricter immigration controls. gerri: they are on both sides of
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the issues. >> right, the very problems that they refuse to help solve now, it's complete hypocrisy and it is politicizing this issue to the detriment of everybody who wants to -- gerri: making this more complicated, trump's tweet yesterday, i will read this thing, mustafa, what is the purpose of house doing immigration bill when you need nine votes of democrats by the senate and the dems are only looking to obstruct which they feel is good for midterms, republicans must get rid of filibuster rule is killing you. this was interpreted as reason if you didn't want to vote yes and you're republican, go ahead and not do that, seems to me it's just so frustrating to watch this, you know, everybody seems to be, you know, sounding off and it's all sound and furry, signifying nothing, what do you say? >> republican voters should be infuriated and frustrate and reject the republicans in 2018 election. [laughter] gerri: but what about the tweet?
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>> you're not getting what you want. you cannot govern -- if you're asking for democratic vote when you control the majority of votes in house of representatives you can't deliver your own caucus, how can you expect people to come work with you when you can't be consistent on everything. gerri: we are run ugh out of time but you make good point, the republicans can't hang together on this and hence my concern over congress getting anything done at all. anne, mustafa thank you for coming on today, appreciate your time. >> thank you. >> thank you. tracee: big story we are watching, european union rolling out tariffs on more than $3 billion on american products in response to u.s. tariffs on steel and aluminum import, what kind of impact can investors expect, senior analyst joins us now, good morning? >> good morning, tracee, thanks for having me on. what is your advice after trade
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disputes, eighth day straight on losses. >> the real story is u.s. trade showdown with china. they control debt and the markets reasonable really seeing any escalation right now and in fact, you're looking of a short-term resolution or something happening quickly here on trade because in march when trade first dominated headlines you had volatility index trading at 25. right now it's half of that. we are looking for a quicker resolution in markets, we had drop over this week, you can see the futures up again this morning, so the markets aren't anticipated setback that is the headlines would suggest. tracee: you mentioned futures, do you think we will see full-blown trade war, what do you think will happen? >> well, you have to think that structurally china is not the
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export dominant country that it was in the past. export is a percentf gdp in china have been cut in half since financial crisis, used to be 40% and now 20%. on the flip side, the u.s. has a lot of leverage right now, economists predict that we will grow at 5% this quarter, 3% for the year and, you know, let's not snatch defeat from the jaws of victory, things are going great right now in the u.s. economy, let's not get into a full-blown trade war with other countries. tracee: i want to mention parent of mercedes warnings that earnings will be affect bid weaker sales in china. do you expect any more fallout among european automakers in. >> there's also other retail companies, technology companies that are warning the administration about getting into full-blown trade war. i'm sure they are listening, i'm confident that the trump administration is worried about a market setback if anything that's one thing pedestal they have been talk about since the
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administration took over and we have seen in the past where we have a short-term setback and negative news headlines and becomes catalyst for move higher for the market. tracee: all right, ian, thank you so much for joining us this friday morning. >> thanks for having me. gerri: more than 30 children transport today hospitals after falling ill at summer camp, what's to the kids there? close look at how oil prices are impacted ahead of opec meeting, let's take a look at u.s. stock market futures, dow up 110, nasdaq up 30. you're watching fbn:am brighthouse financial
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♪dedicate yourself and you can find yourself♪ ♪standin in the hall of fame ♪and the world's gonna know your name♪ tracee: welcome back, let's get you caught up on what's happening now. let's take a look at u.s. future right now, green across the board. great change from 8 days of losing, we are seeing the dow futures now up by 113 points, s&p 50 by 13, nasdaq up by 30 and a quarter. a u.s. sail or has been reburied after decade in 1941 attack on pearl harbor, remains of wallace
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who served in uss oklahoma was buried after being identified by the department of defense last year. nephew decided that he should be buried next to parents and sister in colorado. dozens of kids hospitalized after a mysterious sickness strikes the summer camp in florida. 33 children, three adults feeling nauseous, none in serious condition, the health department is now investigating. and ups has reached agreement with teamsters on new contract, the new deal promises to raise hourly wages by more than $4 over the next 5 years, calls for starting wage of $13 an hour for part time drivers and new weekend driver job to potentially expand weekend delivery system, good news, gerri, that's what's happening now. gerri: good news for drivers, as inflation pressures continue to
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build. we are watching your wallet this as opec meet in viena in the next couple of days, patrick, joins us now, patrick, great to see you as always. you know, we are seeing an interesting scenario with the meeting here and it doesn't typically happen this way, iran is throwing a wrench into the process here, opec wants to lift production, opec doesn't want that to happen. what do you see happening? >> well, good morning, and it's great to see you again. well, you know, that's the interesting part of this all, of course, it was just a couple of months before president trump pulled out of iran deal, 60 or 65-dollar oil that's fine with us, the saudis that were calling prices to be higher, now we are in role reversal and iran is like you said throwing wrench in some of the negotiations. it'll be interesting to see if the saudis, perhaps, press on and lead opec to higher output but then, again, the iran maybe subject to sanctions here.
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it's going to be interesting dynamic to see how they play order, there's a lot of different agendas right now especially with saudi ramco perhaps ipo in the future, so you probably will see jut putin creas, i don't know how opec will get there or what it may look like but arguably demand globally continues to increase and so i think we will actually see a net increase maybe 500,000-barrels a day but look for -- look for the saudis to lead this. gerri: increase in production to drop prices here. i wanted to tell folks when we were showing screen before, oil was actually up after ending lower, oil was up 85 cents, up about 1% and let's look at gas prices right now, regular at 2.86, patrick, this is what you guys have been known for, looking at the gas prices on the street, what do you see happening and especially in the wake of this meeting? >> well, i think what we are seeing now is oil prices
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rallying a sign of little of anxiety in the market and it almost feel like now even if there is an increase of 6-figure, 6 hiking user, whether it'd be 600 or 700, gas prices may see little relief at least now. keep in mind the saudis have said this will take a couple of months to ramp up if we do. so that would bring additional oil to the market close to the end of summer driving season so we may not see a whole lot of relief to gas prices and if we see a smaller cut than expected could actually see gas prices go up a slight amount in the weeks ahead. gerri: that would be the high in your view? >> depending if there's no cut, i would foresee 3-dollar a gallon level that would be disappointment in the market, if we do get increase over a million barrels, we may see some relief in gas prices, maybe at best 260's, 270's, this is something motorists should
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watch. gerri: you just don't watch it, you live it, right patrick in. >> that's right. tracee: coming up the nba thinks big, we will tell you who stood out in last night's draft and a stunner at the world cup, i still can't believe this, jared max has all of your sports highlights just ahead. u.s. stock index futures, take a look at that. green across board. we are looking at dow futures pointing up 108 points, s&p 500 up by 12 and a half, nasdaq up by 29 and a quarter. you're watching fbn:am. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade,
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tracee: welcome back, future stars of nba were introduced last year. gerri: the players aren't even old enough to drink. jared: they can still drink a coca-cola. they blewed out fifth candle like yesterday. 19-year-old from slovenia. now, projected salary, $6.7 million. others who were shy of sophomore years in college, from duke, $6 million to start, he went to sacramento kings, considered by many the possible best player in
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the draft, third to atlanta hawks and trade today dallas mavericks for tray young and jackson went to memphis grizzlies. get ready to see puma sneakers. among many prospects, puma has signed top two picks. check this out, new york yankees game yesterday, kentucky basketball coach john in new york for the draft and not only is he there, that's dallas cowboys head coach jason garrett and baseball legend tommy lozardo. pictures from suite, hosted the trio, he had a chance to see legendary long-time, cowboy coach and my good friend brian cashman.
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aarod judge home run. yankees 50 and 22. all right, this is funny, suziki went to front office, he's not allowed to dougout. he pulled page to valentine's, pe put on the silly -- gone by the second inning. great he's still having a laugh. check that out. it looks like the 50 cent one. bare just coached washington capitals to stanley cup capitals. new head coach for new york islanders given 5-year deal. big upset world cup soccer,
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defeated lionel messi 3-0 and advance to knockout round of 16. france also advances with 1-0 win over perú and australia stayed alive with 1-1 tied with denmark, more coverage underway today on fox, on fs1. tracee: brazil plays today, this morning. jared: first up today. tracee: yes, they are. jared: neymar will be playing. gerri: you will be glued. tracee: i will be. jared: knicks drafted kevin knox gerri: we love jared max. catch jared max fox news headlines 24/7 siriusxm 115. tracee: coming up the international monetary fund to lower estimate for growth in euro zone, live report from london straight ahead on fbn:am.
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more? he has asked for... what? well he did say please (all boys): thank you, thank you, thank you. gerri: international monetary fund set to revise euro lower, jane, what is behind this and what can we expect in reaction? >> there's a couple of factors,
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one is trade war, of course, the euro zone is going to be touched by that, but there are other factors too and you will recall a while ago the market was very much stressed about the italian situation, the populist government in italy, well, in october they will present their budget, that could potentially cause stress for europe if they were to spend more money than brussels really want them to and cause brexit, if that goes through without the deal, that would affect the uk economy but the accident occuro zone economy as well. tracee: all right, opec is expected to raise productions and today's meeting in vienna, what kind of increase are you expecting to see? >> well, of course, the increase that we see on paper will be different than the difference than we actually get because we know many opec members, they won't be able to increase according to extra quotas that they get, why we get increases,
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we could see close to 600 compared to what the market was expecting is a little bit less and that's why yesterday we saw talk of preliminary agreement, we did the oil price rise. i know what the reaction is here, what reaction are you seeing seeing from investors? >> of course, this has been talked about for quite a while. so what's quite interesting is the way that the eu, again, has gone for politically motivated tariffs, one that affects, perhaps the republican party, but we do know this, it's not really affecting the market price too much. gerri: jane, thank you for that, appreciate your time this morning. tracee: thank you for watching fbn:am, mornings with maria
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starts right now. maria: good morning, ladies, we will see you in a few minutes, tgif, friday 22nd, 6:00 a.m. on the east coast. markets to go on high note this week, we have a rally underway. dow industrials up 100 points, nasdaq is up by 25, a third of a percent higher, trade concerns weighing heavily on investors yesterday, take a look at markets, dow closing down for eighth day in a row, that's the longest losing streak since march of last year with 200-point selloff yesterday on the dow, 68-point selloff in the nasdaq. take a look at indices, we are looking at rally as we are in the u.s., the ftse is up 3 quarters of a percent as the cac quarante in paris, dax index in germany up a quarter of a percent. in asia markets closed mostly higher with the exception of japan, nikkei average is down 3 quarters of 1%. all eyes on opec this morning.
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oil producers set to decide this morning whether to increase output, iran pushing back against the move. crude oil at 66.41, up one and a third percent. another setback for immigration overhaul, delaying vote on compromise bill yesterday after more hardline measure failed to gardner enough votes, president trump spoke out about the push for deal yesterday. >> we are working, however, right now on immigration which has been going on for many years and we have come up with a lot of solutions but we have democrats that don't want to approve anything because that's probably, they think bad for the election that's coming up, unfortunately there are a lot of people suffering and that's unfortunate. maria: the very latest on the immigration debate as first lady melania trump makes a surprise trip at border facility yesterday and then roseanne barred from her own

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