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tv   FBN AM  FOX Business  June 28, 2018 5:00am-6:00am EDT

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thanks so much for watching "strange inheritance."' and remember -- you can't take it with you. ♪ >> democrats want judges who will rewrite the constitution and destroy your freedom. >> the senate should reject on a bipartisan basis any justice. gerri: breaking news this morning. president trump gets a new supreme court judge to replace anthony kennedy. a fiery rally on who he may nominate. trade was that the story coming out. a wild ride for investors at the tao of 300 points within end of the day down 165. look at what is driving all this volatility which seems to be
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back. >> oil prices jumping over 3% yesterday on strong global demand. oil now at its highest level in nearly three years. trading at 72.59 down fractionally. >> the market strings. pointing higher. the dow was up 42 in the premarket. s&p up five and three quarters at nasdaq up 19 and a quarter. gerri: all three major indexes down. cac down 11. the dax down 61. cheryl: asian moving lower except for the hang seng pared a small jump there. again, the shanghai composite of bear market territory. the 2000 super bowl. burger king teaming up to bring
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it back. "fbn:am" starts right now. cheryl: 5:01 a.m. in new york. good morning, cheryl casone. gerri: and gerri willis and for lauren simonetti. so much going on. big move then of course not happy. cheryl: we begin with the story right now. they fired a president trump celebrating his opportunity to shape the supreme court with a solid conservative majority. he already had a list of candidate who announced his retirement yesterday. the justice who can sit on the court for decades. >> the travel ban ruling underscores just how critical to
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confirm judges who will support our constitution. we have to pick one that is going to be there for 40 years, 45 years. >> kennedy's retirement to setting up a battle in washington but the democrats are not too happy. like berman has that story. >> president trump says the only thing that runs us into war and peace is the nomination of a supreme court justice. he would get to nominate his second justice in the many years. anthony kennedy announcing his retirement retirement wednesday in its official letter to the president he wrote for a member of the legal profession is the highest of honors to serve on the score. the republican is often the swing vote in a split supreme court delivered the news in person to the president here at the white house. president trump saying he found out about 30 minutes before the rest of us. >> we will begin our search for a new justice of the united
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states supreme court that will begin immediately. hopefully we are going to pick somebody who will be as outstanding. i just want to thank justice kennedy for the years of tremendous service. it's a very spectacular man. >> the immediacy is crucial not only for the president but also republicans that i would steer them clear of any potential senate office come november. the senate has 51 republicans. wishlist have argued that amount. senate majority leader mitch mcconnell says a vote will take place in the fall for chuck schumer says they should wait until after the november election. back to you in new york. >> the court making is that the major decision that will implicate financial markets in a public labor union print the supreme court deciding government employees will say it
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does to use political views that nonworking union workers may not agree with. cheryl: for war, attorney david renault. good morning. first away to listen to what president trump had to say about this resignation. >> i am very honored that he chose to do it during my term in office because he felt confidence you need to make the right choice and kerry on his great legacy. >> it's interesting because kennedy said in the resignation he felt the timing was comfortable and that donald trump would pick the right nominee. do you think that nominee is going to be a good one under president trump first and foremost? >> that depends which way you're coming from. for conservatives absolutely. this is a very important seat and democrats are struggling
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with this. this could be worse for the liberals. we have two other justices. judge ginsburg as well as breyer this was a reagan appointee. this is a conservative on the sears term he voted with the conservatives on all the votes. there's 14 cases. this is not a huge loss here. the next one that's going to be big. >> people like chuck schumer democrats are screaming about the timing of all desperate to midterms midterms and how this should be handled. let's listen to chuck schumer. >> republican colleagues in the senate should follow the rules they set in 2016 not to consider a supreme court justice in an election year. >> this is something mitch mcconnell had done in the past. wait until after the election under president obama if you
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recall the timing with all of this. do you think the hearings could start as soon as august and the senate will be stayed in session? >> absolutely. big difference between the obama appointment and that is a presidential election. this is a midterm. in fact, the pryor appointment by obama was made during a midterm election that was justice kagan leading up to the midterms. certainly different. what will happen certainly an appointment quickly because the republicans control the senate. >> the clear, though. the senate is pretty tight, david. real quick before i let you go, donald trump made an interesting comment. he said basically this is someone that will be there for decades. looking at the list of possible nominees. they could see somebody like senator mike lee born in 1871
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mckinley became a justice david strasser 1974. the justice so that he got his legacy for decades to come. >> i can't see them being on the court for 40 years, 45 years. gorsuch is 50. senator leahy, we need his vote you double be a critical vote coming up in the confirmation hearing. good candidate and they are all on the screen. david bruno, thank you for a match. >> have a great day. gerri: u2. truth or president trump attend the groundbreaking ceremony in wisconsin. the company that makes iphone scrapple will be sending $10 billion over four years. the factories expect you to create about 13,000 jobs in wisconsin. fox business will bring you that live at 1:25 p.m. eastern. join us for that.
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>> the bush justice department given the green light to buy the fox entertainment assets for more than $71 billion. the doj says they must first sell 22 regional sports no perks are justice officials conclude the deal that would drive up fuel prices for programs. gerri: meanwhile, "the wall street journal" reports that comcast competing with disney is taking additional cash for the bidding war against disney. shares of 21st century fox are up 38%. disney shares are down 3%. amazon wants to help you start your own delivery business. >> tracee carrasco joins us with more on that. you can apply to start your very own small business picking up amazon prime packages in an
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amazon branded them in uniform. hoping for more control of the delivery network for its prime business push-ups about 5 billion packages either globally. it follows criticism from president trump over the company with the u.s. postal service. amazon says it costs you $10,000 to buy into this and start your own business. cheryl: some small-business owner out there thinking yeah, absolutely. big changes come interesting changes for chipotle. >> after struggling for more than two years to win back customers following a number of his safety issues, chipotle's new ceo who previously was the ceo of taco bell wants to introduce more snack foods, test out the new items that quesadillas, and his status. 2:00 p.m. to 5:00 p.m. or $2 tacos along with the new loyalty program with the tagline in efforts to interact with customers on social media. they also plan to open earlier
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and shut down 65 underperforming restaurants. lots of changes. >> and what should be with all the problems of food safety. >> who could forget the what's up i had for that burger. not good to do it. >> hello? >> it's so funny. burger king and budweiser teaming up creating a limited-edition burger to go along this summer called the american boras can see much. not one to be made at any but will have a quarter pound of beef with the toppings. budweiser says the ultimate summer. gerri: six bucks? that is not nothing.
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send me a. cheryl: maybe not for everybody. appreciate it. gerri: coming up a summit meeting between president trump and vladimir putin is on. >> getting along with countries. getting along with china. getting along with russia in these countries is a good thing. not a bad thing. gerri: l. has the details on the status prints distribution bill. who wants the rights to his music. stock index futures after the minister and ran yesterday. opened higher by 35 points. s&p 500 by five. nasdaq up in premarket trading. you are watching "fbn:am."
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cheryl: welcome back. let's get you caught up on what's happening now. futures after yesterday's crazy ride. closing down 165. futures pointing to a slightly higher open. s&p up four and a quarter and the nasdaq up 516. president trump and russian president vladimir putin to meet at a summit next month in europe. national security adviser john bolton visited moscow yesterday to arrange this meeting.
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the kremlin focusing on bilateral relations in syria and arms control issues. the satellite images suggesting north korea is continuing to upgrade. one of the nuclear facilities and a rapid pace despite agreeing with president trump this month on the denuclearization of dependent. images published by website dirty eight north were taking nine days after. that story coming up. sony music has acquired the rights to much of princes discography. items from the artist kyla comes several from the night tenure warner bros. record. all-time top-selling albums, purple rain and batman actually paid the musical move over to sony in 2021. just that talented. such a great artist. gerri: great performer. unbelievable guitarist.
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a crazy ride for investors yesterday. the dow was up nearly 300-point demanding down over 165. we'll take a look at what is driving all this volatility. check-in the u.s. stock index futures, the dow pointed out by 35 points. s&p 500 up five. the nasdaq up 17 points five. you are watching "fbn:am."
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the gerri: and it's all about the contacts. michael to you before we go. tech stocks take an eeg yesterday. amazon, google, microsoft, all the stocks lower. what is the outset for texan is this the time they should get out of paying stocks? >> i don't think so. those are the growth leaders of the world, let alone our markets. people have an opportunity to get involved. as growth estimates go up and inflation estimates gawker investors bullet chips off the table and reevaluate. that creates volatility behind the headline risk. ultimately growth estimates of inflation estimates are going up which is ultimate good.
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going to get involved. >> the blue-chip index down 2.4%. a lot of opportunity to start looking at stocks. thank you for coming. trying to coming up, president trump tearing president trump tearing up for fight with democrats supreme court justice. >> democrats want justices who will rewrite constitution anyway they want to do it and take away your second amendment, racer borders, throw up in a jailhouse doors and destroy your freedoms. cheryl: will talk about the politics of a new supreme court judge. taco bell finally decided to bring back one of the most popular menu items over. yes, you see cheese on your screen. you are watching "fbn:am."
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>> democrats want judges who will rewrite the cons duchenne and destroy your freedoms. >> the senate should reject on a bipartisan basis and he just is. >> reagan this morning, president trump gearing up for a second supreme court picks to replace anthony kennedy and he sent in fiery rally yesterday in. gerri: wild ride for investors yesterday printed out 300 points in ending the day down 165 points. we'll take a look at what's driving the volatility. cheryl: one fact or in the volatility. oil prices in particular jumping over 3% of global supply concerns. all of a sudden it its highest level in four years for $72.68. >> check out the u.s. stock market futures. dog open up.
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the nasdaq up nearly 17. >> stops to open stocks to open lower. trade concerns the big worry is still there. the markets were lower and still are. right now the first become the cac on the red. >> stocks in asia although where in shanghai already in a bear market down another 1%. cheryl: could weaken a lazier? we'll talk to you about artificial intelligence. it will call the restaurant and make a reservation for you. gerri: i love that. what's wrong with that? cheryl: you are watching "fbn:am." 530 am in new york thursday june 28th. good morning, everybody in cheryl casone. gerri: i am gerri willis infoline simonetti. cheryl: the stage is set for
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president trump to make a second appointment to the supreme court. whatever you thought about the battleground in the midterm elections change in the man known that the courts thing about justice anthony kennedy announced his retirement. the gravity of this moment was not lost on the president last night in north dakota. >> justice kennedy's retirement makes the issue of senate control one of the vital issues of our time. the most important thing we can do. democrats want judges who will rewrite the constitution anyway they want to do it. train to the spring jesse james staff and democratic strategist john summers. good morning, guys. i want you to listen to what the democrats are already saying about this pic and in particular how mitch mcconnell will handle the confirmation process. listen. >> an election that determines control of the senate.
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you know, absolutely hypocrisy for the majority leader to move forward on about now when he was willing to move forward on a third ahead of the 2016 election. >> i would say democrats are in a panic mode because they realize what this means to the supreme court. if we get a judicial nominee during his presidency, they are going to potentially move a lot of the favor they have seen. with guy key issues at stake right now such as roe v. wade the number one that comes to everybody's mind and often we see issues with gun control and that is something the supreme court may be involved in. they are pretty much in a panic state. trade to look at the cover of the daily news printed by the left new york daily news. it's a very liberal paper appeared they are always against president trump.
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this is the nation braces for trumps nominee. the democrats plan here? >> i'm not one of those people. justice kennedy has been a moderate on the court. what sort of lost sight of a moderation actually looks like. he's always been a conservative with the 175 to four decisions. he sided with conservatives than fort tina does. not dissing both a lot of people make them out to be. i'm not one of those democrats of my hair on fire. not one of the republicans who say thank goodness he's out of here. the reality is he's been conservative all along the way voting with robert 90% of the time and gorsuch 80% of the time. cheryl: this is all getting politicized. let's hear what senator cruz had to say about what democrats are looking for.
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>> what democrats want to see is a judicial act to this court. they want to see radical left wing agenda forced on the country from five unelected judges on the court. >> i don't want to see a conservative court that is mandating conservative policy outcomes. the place to fight for conservative policy outcomes is where a certain outcome of the united states senate. trade to senator cruz sounded like he was almost in the middle when it comes to leave the supreme court alone. that is why justice kennedy was known for. this wasn't an activist judge. >> that's why conservatives are celebrating because we know the nominee will follow the constitution. we want fair and just laws. we don't want somebody who will decide to make decisions and call the constitution of living
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document and how this way and then the way they wanted it to go. it will talk to get someone through. >> to think there's any swings on the democratic side that could cope with her but considering we get the midterms coming up to >> let's see who we've got coming in. make a decision from there. we don't want an activist judge. are voters out there, this is obviously a very big issue. senate control you heard president trump in his own hyperbolic way trying to disturb the base but the reality is if you like a decision the supreme court made about the travel ban and the fanfare allowing discrimination against families like mine and the fact they've been chipping away at women's rights and workers rights, they vote republican. if you're tired of that, vote for democrats. cheryl: not sure if i agree with all those characterizations of the supreme court decision, but
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we are out of time. i've got to let you go. thank you very much. appreciate it. gerri: are you too busy to call and make a restaurant reservation? now you can ask google to do it for you. cheryl: we have gotten so lazy. >> good morning. google is the new artificial intelligence technology called duplex will call a restaurant when asked in such a dinner reservation for you. the developers conference in may. >> advocate table for wednesday the seventh. >> for seven people? >> it is for four people. >> for four people, when? >> wednesday, 6:00 p.m. >> google tested it out in manhattan next week. it will start testing duplex this summer with a small number of restaurants that they will be limited only asking for store
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hours. meanwhile, google said in an internal rule against fellow employees. google said it would discipline anyone who discriminates against or attacks colleagues were engaged in discussions that are quote disrupt it to a project at work environment. >> new casinos are officially open in atlantic city. they may guess, that's you to previously shut down hard rock cafe in the ocean resort casino in atlantic city were supposed to open today that both god the go-ahead for new jersey division of gaming enforcement to begin full operations. both immediately started studying gamblers inside. the olympic city casino shut down since 2014 and together will create about 6000 jobs. cheryl: susan lay our correspondent will be out there giving us a sneak peek. good television at least for us. exciting news from taco bell
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involves french fries. >> july 12, mark your calendars. this is a limited time. with the 25th anniversary of the film demolition man in honor of demolition man and its anniversary, taco bell is re-creating the restaurant from the film outside of comic con in san diego from july 9th through the 21st. very cool. a lot more coming up as president trump addresses a trade war in north dakota. >> to trade war ended a long time ago because our leaders didn't take care of our people and our companies. we are not starting a trade war, but we will finish it. trade too are we heading for a whole new trade war with china? our lives, our prices.
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burlesque congressional budget office or douglas holt eakin. the owner of the most famous arena in the world may be spinning off next to the rangers. we will have that in sports coming up. while day at the dallas 300, down more than 100 xt. we are flat this morning. the dallas sewer pipe two. s&p and nasdaq up fractionally higher. we will be right back.
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cheryl: the dow is down six points, as to be changed, nasdaq up one and three quarters. we shall see what the day brings that the federal reserve will report the latest stress test for u.s. banks this afternoon. the tester in the financial crisis to increase public confidence in banks and determine if they can fill in money during a recession. apple and samsung quietly reached a deal on their seven year long patent dispute. samsung was ordered to pay $539 million for the violation last month. after that ruling, apple said the case was never about money. considering separating the
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sports business and entertainment operations of the company is tired advisors to examine the possibility of getting off the new york knicks and new york rangers. the potential sports company would include the team's minor-league affiliate. sports leagues ahead of the segment later on in the show. cheryl: let's talk about the economy for the trump administration continues to clash with china over trade. always good in global trade tensions or affect in the u.s. economy. president of the american -- douglas holtz 18. a big picture. the impact of the trade battle in the economy. the president says we can't let cheney get away with it.policy practices. they even said there is a trade war. we lost it. so with trade policy in the meantime, what are the risks to the u.s. economy?
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>> the u.s. economy has accelerated. if you look at year-over-year gdp growth in the first quarter 2017 it was 2%. it is ramped up every quarter in the first quarter of this year was to 20%. the north of three. the american people have wanted for a long time and not let the risk and people are worried about this. if you look at the trump administration's approach is clear that identify the right country. china is a bad actor in the global stage. the only disagreement i see whether they got the right strategy for getting them to deliver on international problems. >> exactly. people talk about shouldn't be terraced, protecting our intellectual property. what are the biggest most important things to go after here and how you do it?
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>> the most important things in the eyes of the administration are the components of the so-called 2025 plan. an ambitious plan to dominate global research and development of artificial intelligence and other advanced technologies. guarding u.s. technological prowess, intellectual property is central. the question is the link between terrorists that are often on our intermediates to make our goods more expensive in those intellectual property protections. if you step back and look at the concerns of critics of the chimp administration, they say look, we get it, but we want to know what actions you want china to take and how fast and how we know if the strategy is working. we only see tariffs hurting our economy. gerri: answer the question then. what is the best way to protect our intellectual property? >> we see additional efforts by the administration and congress on export controls.
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you may not send out of this country these technologies, these particular innovation. we see a lot of attention paid to inbound investment by chinese companies in particular at the u.s. firm says the way to acquire those technologies. if they endanger national security, that's not acceptable. those will establish a vp for. a lot or out of congress and the administration. >> corporate america is yelling about doing that. you see what came out of harley davidson like you're amassing with the business strategy here. i've got a picture to something else here. the inversion of the yield curve. really wonky and scary stuff. there's a secret detail from the markets. it portends economic recession.
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right now that economic indicator having the yield curve has flattened out. has decent dress at the beginning of this interview, some of them for the second quarter for .5%. so who is right here? >> it's going to be a great test. formal models of the probability of recession, most of them put 10% over the next 18 months. boosting the yield curve flattened historically. those two indicators. i am coming down again the yield curve on this one. the next 18 months has enough in the pipeline in terms of the policy from the tax reform. dramatic reduction in regulations that is unlikely to see a downturn. there is a lot of reason to this historically become a good indicator. cheryl: so great to hear from you. i like your opinion on the
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economy. thank you so much for coming. great to see you. cheryl: coming up in sport, if you were at bars or restaurants in your town or city here is why. his checkup the whole tournament. shared macs is up with world highlights. in an arrest is made after body was found at the home of a quarterback. taking a look at futures right now. this morning on your thursday, three in the free market. s&p up fractionally. you are watching "fbn:am." m. they helped me out. she means we helped with her llc, trademark, and a lot of
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>> welcome back. the end of the group stage of the world cup and defending champ germany gone. >> if you were screaming and yelling wherever you live throughout the country yesterday, jerry months will tell you exactly why. >> yuma when buffalo bills fans flooded to say thank you for beating the ravens to get the bills into the playoffs. in south korea beat germany yesterday, mexico got into the knockout round of 16. mexican soccer fans show their appreciation to the south korean soccer fans for beating germany. after after the single emanation rounds. switzerland appearance yesterday. the multi-mexico. to advance on this the final day of group play. one day after the body of 25 road roosevelt renée, new york giants quarterback, the new
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jersey prosecutor's office announced that william jenkins junior had been arrested in ontario county new york charged with aggravated manslaughter. the investigation ongoing. roosevelt renée 25 result was a hip-hop producer and friend of the giants quarterback who lived in his house. arkansas was one away from ending its first college world series. in this chance at catching this pop fly. >> that opens the door. they tied the game in the beaver's breakthrough three runs in the ninth, five to three. a deciding game number three. love it. also right there. >> one person can make a
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difference. catch garrett sports reports fox has had one sirius xm channel 115. >> oil prices surging yesterday on first global supply concerns. an update for monday companies turn ahead on "fbn:am." new smart hawaii is the first state in the u.s. to have 100% renewable energy goal. we're a very small electric utility. but, if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a solution using smart sensors on their network
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that lets us collect near real time data on our power grid. (colton) this technology is helping us integrate rooftop solar, which is a very important element of getting us to our renewable energy goals. ♪ (shelee) if we can create our own energy, we can take care of this beautiful place that i grew up in. ♪ ♪look into my eyes ♪you will see ♪what you mean to me ♪don't tell me it's not worth trying for♪ ♪you know it's true ♪everything i do ♪i do it for you
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printer we've got oil prices up your cross and $73 a barrel for the first time in 3.5 years. managing director p.j. on europe joins us now. good morning. what are we going with these oil prices that will be oil and energy to set the tone for markets. >> what a crazy week we've had so far. energy is one of them. will of the higher energy prices are kind of good for the economy. but at some point in time -- with the week we've had with the president of the travel ban unions and on the supreme court just as retiring, it is really stepping up to be a busy summer. cheryl: we are getting great country breaking news from john roberts out of washington
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sporting the summit between presidents summit between president trumbo vladimir putin will be held in finland. whether your initial thoughts on the furthering between putin and trump and what are the energy markets having to say about possible sanctions be lifted on the russians? >> obviously that is good for the consumer. the energy markets be lifted on russia will help things globally number one. number two it will help things globally as far as a safer world. we've had this issue played out again with north korea and whether you should speak to that guy and how he is going to set out. what's the problem in sitting down and maybe getting some things done. if you don't talk, i guarantee nothing happens. at least there's another line of communication which i think is key. >> i've got to ask you, are we going to see a problem for consumers here?
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prices are going up, up at some point in the page. >> like i said to the stock market, they are good for producers. it starts to growth. growth can't continue. it will start to cap things and that's what we have to worry about. gerri: so much for that, scott shellady. great to speak with you. trades are we now send it over to maria bartiromo. >> hey there, ladies. good morning, everybody. it is thursday, june 28th. another roller coaster on wall street this morning i made trade tensions. futures rising right now on the dow industrials, up 15 points on the night back. plus the volatility is strong. the dow swinging out nearly
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300-point before ending the day down 165 off the lows of the day and a high. a big technology selloff. the nasdaq down 118 points yesterday. that was the real damage 1.5% lower yesterday. european marker this morning. down across the board. the cac in paris down a third of a percent. two thirds of a percent. ft 100 of monday moving this morning. asia markets closed mostly lower with the exception of hong kong. things that index up half of a percent. a crude awakening. oil prices soaring better than 3% to the highest level in four years or to look at the rally. oil at $72.84 a barrel up again this morning he said. a chance to reshape the supreme court for decades to come. president trump speaking ou

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