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tv   FBN AM  FOX Business  November 28, 2018 5:00am-6:00am EST

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table and wall street will once again stand in the way of funding for president trump's border wall? we'd like to hear from you. cast your vote on twitter @lou dobbs. tomorrow, congressman matt gates, andy biggs as well as kellyanne conway. be with us. >> there's a good possibility that we can make a deal and he is open to it. lauren: open to a deal. there's optimism that an agreement with china will happen. cheryl: dow up over 100 points on comments. s&p up 5 and a quarter, nasdaq up 13 and three quarters. lauren: stocks mostly higher in europe. trading to the upside. cheryl: stocks in asia are moving higher, japan, china and hong kong all up over 1%. lauren: apple wants you trade in old iphone, what the company is
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offering in return might surprise you, fbn:am starts right now. ♪ ♪ cheryl: coming up 5:01 a.m. in new york, wednesday november 28th. lauren: good morning, i'm lauren simonetti. cheryl: straight to breaking news this morning, cindy hyde smith first woman elected to congress, defeated mike espy after president trump visited the state holding one but two rallies, hyde smith thanked the president during her victory last night. >> thank you so much for everything, for the opportunities for coming to mississippi yesterday two stops phenomenal, the coast was unbelievable, we got to ride together and i sure appreciated
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the time that he gave me. lauren: president trump tweeting this, congratulations to senator cindy hyde smith, we are all very proud of you, with her win gop has expanded senate majority to 53 seats. cheryl: well, we are about 48 hours away from the g20 summit beginning in argentina and the white house is optimistic ahead of this weekend's meeting between president trump and chinese president xi jinping. lauren: latest from edward lawrence. >> could be a deal with china out of meeting with president xi jinping, the meeting happening on saturday. what economic adviser larry kudlow says if china is serious there could be a breakthrough this meeting. >> issues of intellectual property theft must be forced, force of technology transfers must be solved, significant tariffs and nontariff barriers
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must be solved, issues of ownership have to be solved. >> kudlow says the u.s. will be garnering support from other g20 leaders that feel that china is engaging in unfair trade practices, john bolton say that is this meeting will be deciding moment in the trade relationship between the u.s. and china. >> to have the two leaders exchange their views in the presence of senior advisers and not with expectation that at this meeting they'll be some substantial agreement coming out of it but that there would be an indication, a kind of way ahead that the advisers could pursue. >> administrators in china will meet with treasury officials and other delegations from the united states to try and hammer out some of those details and go forward with trade relationship, but, again, all hinges on the presidential meeting, thank you. lauren: certainly does, china's ambassador to the u.s. however
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will be saying they'll be serious consequence ifs hard-liners try to remain in control of the negotiations. cheryl: meanwhile president trump has said that he may cancel his scheduled meeting with russian president vladimir putin at clash that happened over juik rain and russia. in an interview with the washington post, the president said, maybe we won't have that meeting, i don't like that aggression. lauren: capturing 24 men off of the coast of crimea, moscow claims they were illegally in russian waters. g20 summit begins friday, special reports from liz claman and blake berman during time in buenos aires. cheryl: president trump is threatening to cut government subsidies including tax breaks
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for consumers that buy general motors electric cars, president tweeting this, general motors made bit and built plants there, don't think that's going to pay off i'm here to protect america's workers, gm announced earlier this week it plans to close 5 factories in north america slashing 14,800 jobs, shares of gm dropped 2.5% yesterday and rose on the news monday when announcement was made. lauren: the president has been critical of gm and the fed and more clues when jay powell speaks later today in new york, investors listening for any sign that is the fed may slow down recent round of rate hikes, the central bank to raise rates 4 times this year, many times in 2019. can he recall cheryl president trump criticizing powell once again in interview with washington post he's not even
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little bit happy with performance, mr. trump said. he blamed recent selloff on the fed's rate hikes, has prevented economy from overheating. lauren: we will talk about all of this with our guests in a bit. second estimate for a gdp for the third quarter, an hour before the market opens, gdp to come at 3 and a half percent, that's unchanged from the prior reading. cheryl: new home sales for october also be released today, sales expected to rise slightly from september to 575,000 but those rates from the fed certainly put a damper on the housing market. lauren: housing boom has slowed. big tech making big connections with the healthcare industry. cheryl: very interesting story, tracee carrasco has that and other headlines making news, tracee. >> good morning, latest effort to push into the healthcare entry, wall street journal report that is am done is offering new software, can scan
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patient records and pull out data, healthcare professionals can then use the software when considering treatments while hospitals can use it to cut costs, amazon is trading higher in the premarket. cheryl: privacy activists will have something to say about that. iphone making changes to trade-in program. >> apple increasing trade value for older iphones for anyone looking to upgrade to newest 10r, 10xs max models, you can get up to $150 back for iphone 6 double the previous traded amount all the way up to $300 for an 8, you'll need to buy a new iphone during trade-in process to get that increase value but this comes amid reports of apple supplier cutting revenue forecast that apple demand is slowing, apple
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trading higher in premarket, of course, we've heard people are keeping phones longer so this might be an incentive. lauren: that might be one of the reasons the dow is up to date. starbucks is gearing up for the holidays. tracee: yes, starbucks adding a new drink to seasonal menu, the juniper sage latte, evergreen aroma with citrus notes according to starbucks, that's not all, return of coffee for life contest, members to have loyalty program can enter for chance to win 1 of 5 grand prizes, that's free coffee every day for 30 years, totally more than $56,000 in coffee, sign me up. cheryl: a lot of people will take advantage of that if they get it. tracee, thank you very much. lauren: markets have been very sensitive to every trade headline and ongoing dispute between the u.s. and china but also tension between those with the trump administration.
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peter navarro against free-traders like steve mnuchin, john, wealth management, good morning. >> good morning. lauren: first of all, what are the expectations at g20 this weekend? >> well, my hope is that they come to some resolution because it's been massive overhang on the market but my experience has told me let's wait to see what the outcome actually is. lauren: finish your thought. >> we urge investors don't buy the hope but don't sell the fear on headline for china trade, you have two very hardline leaders between trump and xi and, you know, the u.s. has agenda they want to hammer out here, let's see how much the chinese are willing to give. lauren: seems that's exactly what investors are doing, selling the fear and buying the hope, every single headline that's moving the market which brings me to this next one, reuters is reporting chinese enjoy warned that if hardliners in the trump administration like
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peter navarro prevail over free-traders, they'll be consequences, what do you make of that because yesterday the white house put out kudlow who is a free-trader to kind of make investors hopeful, if you will, that we might have a deal and as far as i can tell, peter navarro isn't even attending the g20, what do you make of the strategy? >> china is doing exactly what the u.s. is doing, xi and trump are sending out team and coming up with draw a line in the sand attitude and we will go in there with a very hard line, both are playing public opinion and let's see what happens. to see, the u.s. wants the chinese to show some kind of restraint or give on protecting u.s. patent rights, that's the biggest issue in my opinion that the u.s., the government is trying to protect u.s. company interest in china because patents have been ripped off for so long and they can't compete. so i think that if the u.s.
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government sees china, puts emphasis on protecting u.s. patent rights, they will maybe not eliminate tariffs but claw back on them. lauren: we want something and we want something in writing. putting numbers on potential outcomes here, they say the best case scenario and they are only giving 10% chance, john, china buys more stuff from us and opens up markets, only 10% of that best case scenario but that doesn't mention all of the items that you outlined that you mentioned. >> good luck, the president threw out the $220 billion on potential tariffs on china that was reached in august, basically, you know, all of the gloves were off and the market has nothing to wrap its head around in terms of the dollar amount, so to be helpful, if the
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government came out and said we are going to impose 200 million or go back so at least the market wraps its head around some figure. lauren: john, thank you very much. >> thanks for having me. cheryl: let's take a look at how u.s. futures are fairing this morning, positive start to your day, dow up 60 in premarket, s&p 4 and 3 quarters, nasdaq 13 and a quarter. new list of demands as some of them say they will cross the border no matter what. >> do you plan at least to go legally or illegally to cross? >> any way is the same. >> they are keeping here with hopes. cheryl: we will go to tijuana with the latest on the border. remember when tim cook donated ipad to low-income school in idaho, now schools are complaining about their gifts, you're watching fbn:am
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cheryl: migrants at the southern border demanding faster asylum proceedings and end to all deportations. lauren: griff jenkins live on the ground in tijuana, méxico with the very latest, griff. griff: good morning, lauren and cheryl, migrants here 6,000 of
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them in complex behind me are getting restless and losing patient and government officials is costing upwards $30,000 a day to house my graints and delegate jenaro morena, he blames the organizers for this. >> the leaders that were promising them the great american dream are -- aren't coming through and they are noticing that and know they will be better back home. griff: migrants issuing issuingt of demands, end deportations and speed up asylum process and want the new incoming government to form commission to help them and list of names of those deported publicly and 24-hour ces to lawyers and legally or illegally
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they are coming either way for work, listen. >> any way is the same because i don't go to the other side to -- to do something bad, i go to work and work is work. here, there, and anywhere. griff: dhs secretary kristin nelson said that's not a valid excuse for asylum. listen. >> 90% of those making asylum claim are not making a claim that can be honored under statutory framework of the united states, it's not a valid reason for asylum. you heard me say it before, if you're coming to get a job, that's not a claim for asylum, if you come to be with family, that's not claim for asylum. griff: officials tell us 2,000 more are on way from mexicali. cheryl: battle continues, griff jenkins live in tijuana, thank
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you. lauren: let's take a look at futures this morning, s&p futures up 4, nasdaq tacking on 14, coming up the trump administration taking another swipe at struggling general motors. >> he believes as frankly the prime minister of canada trudeau believes that the u.s.-mca was great deal to auto workers and yet gm comes right after the deal, so there's great disappointment there. lauren: what kind of impact would subsidies cut actually have on the industry? and your kids may love elf on a shelf but now there's a new game in town to keep parents in check, we will be right back.
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cheryl: welcome back, let's get you caught up on what's happening now, after yesterday's turnaround to the market in the upside, another up day is predicted right now, futures higher for the dow, 49 points, s&p looking up by 3 and a half, nasdaq up 13 and a quarter. paul manafort is firing back at report that says that he held secret meetings with wikileaks founder julian assange, the guardian reported that the two met in ecuadoran embassy, manafort disputed the report that he never met or try today meet with assange, manafort's lawyer has been communicating with trump's legal team, they
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are not considered illegal but has upset special counsel. democrats to elect new leader, napg you pelosi is expected to take over as speaker of the house, angry students, idaho high school walked out of class to protest visit from ivanka trump and apple ceo tim cook, the students were upset about apple donating i pads to the school arguing that the i pads eliminate vital interaction between students and teachers. and one mom says forget elf on the shelf, she's got a new idea. >> i decided a new tradition for moms. get out of the way. >> stop pushing, i'm trying to find something. [laughter] cheryl: cost about $30 and also includes struggles about being a mother during the holidays, what
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do you think, lauren. lauren: i'm writing that down and add to go christmas list. cheryl: i think you should. lauren: awesome. weather, strong winds pounding the midwest and series of rainstorms hitting california. cheryl: let's bring in senior meteorologist janice dean. janice: i'm not going to lie it sounds really attractive. let's take a look at current temperatures, it is cold, my friends, cold as far in florida, it is freezing in north florida along gulf coast as well, mobile, 29 in memphis, you get the picture, we have the cold air as far out and snowflakes in the forecast, ohio valley, great lakes as well as new england, a lot of this is lake-effect snow, so the colder air running over the relatively warmer lakes is bringing the lake-effect snow and that's reaching as far south and say east as new york city, we could get some snowflakes
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later on this morning, there's the past 24 hours, the storm, a couple of storm systems moving into the west, bringing potential for not only heavy rainfall but a lot of snow for sierra nephew -- nevada. all right, ladies, we could see snowflakes in new york city. tree-lighting weather. lauren: get out of town, head west and not east. cheryl: midtown tree lighting -- check out futures this morning, dow up 38 and s&p 2 and a half, nasdaq up 15 and a half. still ahead this morning, remember when president trump told our own trish regan this? >> my biggest threat is the fed because the fed is raising rates too fast and it's independent so
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i don't speak to them and i'm not happy with what they are doing. cheryl: he's still unhappy with what powell is doing, what the latest comments mean for rate hikes? trying to get millennials to eat chicken, there's a hint. you're watching fbn:am. ♪ ♪ (buzzing) gather new insights, leave your data protected on-site, and put it all to work with ai. the ibm cloud. the cloud for smarter business.
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>> seems that gm would rather build cars in china rather than the united states. we are going to be looking at certain subsidies regarding electric cars and others. cheryl: harsh words from the administration as they prepare to up the stakes in the battle with general motors. lauren: regardless the dow rose over 100 points yesterday, futures up this morning, dow gaining 43, s&p up 3, nasdaq 11.
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cheryl: in europe stocks opening as you can see mostly higher, ftse barely in the red by a fraction. lawyer flaur asia all green, stock markets all gaining more than 1%. cheryl: plus how one fast-food chain hooking up with tinder will draw in millennials, fbn:am continues right now. ♪ ♪ cheryl: 5:30 a.m. in new york, i'm cheryl casone. lauren: hi, i'm lauren simonetti. cheryl: general motors on the defense right now after they announced massive job cuts on monday. president trump is now threatening to cut subsidies in particular people that buy cars, nothing being closed in méxico and china, the u.s. saved general motors and this is the thanks we get, we are looking to
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cut gm subsidies and electric cars. should the president be involved? that's the question here, is the president -- can he really do anything when it comes to the business and more importantly the tax laws that are in the books to subsidize those people, those american that is buy electric cars? >> good morning, thank you for having me on, the short answer no, they can't do very much. a lot of the subsidies were put in laws with congress, why are they in place for massive corporation like gm that has access to millions in capital. i think that's sort of the bigger issue the government should be looking at. cheryl: i want you to listen to what larry kudlow had to say, he addressed the issue, he was breaking at afternoon briefing at the white house and these are fighting words from him.
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take a listen. >> he believes as frankly the prime minister of canada trudeau believes that the usmca deal was a great help to the automobile industry and to auto workers and gm comes right after the deal. so there's great disappointment there. cheryl: look, the government does a lot to help automakers and that was part of the trade negotiations especially with north america, thanks a lot. they can be angry, but, again, is it really height for them to step in at this point? >> well, they certainly -- i can understand they are angry, as gm shareholder you want what's best for shareholders, if they are negotiating massive trade deal, everybody knows nafta and the new nafta, mca agreement does have to do with car manufacturing industry. they should be upset.
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but i think that they need to go back and figure out and wait, why are we so involved, is there a way to pull that back and let the market decide? cheryl: we did bail them out with $50 billion and i think we all remember that. at the same time, let's talk about the president's rhetoric here. we have seen this play out before with him, he went after amazon, they were taking advantage of the u.s. postal service, i'm not sure anything came out of that, he goes after harley davidson because they decide today ship production, they are dealing with tariff concerns and slowing sales in the u.s. go do you think gm gets away with this and moves forward and does business as usual? >> unless you will get a law changing in congress and very unlikely with the split, this will sort of go away but this is
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the president mo, if i were sitting in his chair i would not be happy with gm either because those were big ugly headlines, gm cutting 15,000 jobs, that's not the messaging he wants in this economy right now. cheryl: tom, we will certainly keep talking about this until we get a decision, tom, appreciate it. >> thank you. lauren: jay powell still a punching back for president trump, trump telling washington post he's not little bit happy with powell's performance, does this public criticism impacts the fed's decisions, craig, chief economist and joins us now, hey, craig, good morning. >> hey, good morning. lauren: you think the fed is listening to or influenced by the president? >> you know i don't think they are listening too much to him, obviously they pay attention, they will address it but one of their main objectives and has been since 1951 to remain independent and not persuaded by
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politics and so that's critical to them, it's a primary importance and i don't think it will affect their decision. lauren: donald trump told the washington post this, quote, i'm doing deals and not being accommodated by the fed, they are making a mistake because i have a gut and my gut tells me more sometimes than anyone else's brain can ever tell me. unpack that a little bit for me? those are strange comments coming from the commander in chief. >> right, the president thinks that his gut is telling him the right thing versus the academic model that is the fed relies on and the president has to remember that the fed has dual mandate to maintain the lowest unemployment possible with sustainable prices or stable price growth and that's their mandate, if he wants to change mandate you can do that but as long as that's their mandate, unemployment at 3.7%, inflation at 2%, they are achieving
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mandate and they want to get rates up a little bit and that's why they are hiking. lauren: if the economy slows because of trade dispute that we are engaged and other reasons that the economy slows, they do have something left, amo left to boost the economy if they need to. >> exactly. i think the president is doing disservice if he wants low rates, he's forcing fed into a corner, if there was a meeting that they shouldn't hike, this would be it, if you are seeing weakness, inflation weaker than expected, if you look at stocks are down 6% since last hike, inflation expectations are lowest of the year, this is the meeting that they ought to not hike but they want to become less transparent, the president is putting them in a position where they have to or else the market that they are being persuaded by political pressures. lauren: a lot of people are saying that, craig, the fed wants to transition their strategy to be reactionary and less-forward thinking so you're
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saying don't hike as expected in the meeting just a couple of days from now, we will see what they do, we will hold you to that. >> this would be the best meeting to do that but they're not going to be able to do that because of what the president has done. lauren: you're dialing back a little bit for us. >> yes. lauren: good to see you. >> have a great day. cheryl: all right, well, google employees are up in arms over a dragon fly. lauren: tracee carrasco joins us with more on that. tracee: are not happy with reported plans to restart operations in china, at least 10 employees including managers, directors -- managers, the workers called a censored search engine for the chinese market, that enables a surveillance, google has said to be developing a china-specific censored
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version in order to please the government in beijing, the browser would suppress search reports, google's parent alphabet up. shares of papa johns shares slumped, the wall street journal report that is some of the remaining bidders are interested in taking a stake in the company but none are interested in buying all of it. according to journal papa johns was hope to go take final bids next week, shares of papa johns are up 3% so far this year. cheryl: not good news if you like papa johns pizza, they are kind of done. millennials to use tinder.
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>> hardy's hoping millennials will swipe right, they want you to open up tinder with imaginary character and in exchange receive a qr code for buy one get one 5 piece chicken tender combo. here is chris. lauren: thank you, tracee. good to see you. let's take a look at futures this morning, they are looking better than the chicken nugget did. s&p up 6 and a half, nasdaq tacking on 22, well, baseball becomes the latest professional sports league to ink deal and gulf fans that can't wait get enough of tiger woods. jared max with sports
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baseball signed up with gm, the casino and sports, advertise on mlb network, mlb.com, mlb app, baseball joins nba, wnba with gambling operations. ceo of mg resorts baseball is perfectly suited for this, people will be talking about the next pitch, the next out and next inning and this was sentiment that was echoed by baseball commissioner rob who incidentally 3 years denied pete rhodes leader reinstatement. streaming service scheduled to launch january, the joint venture between discovery and pga tour featured 2,000 hours of live programming, so tiger getting on this. january college football national championship, who will get to play?
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you have to finish the top 4 and georgia got in there last night. the rankings much possibly to change championship weekend. soccer league match, before the match, fans hurling cocktails, several people were bloody, riot police came to get involved and yet somehow the match went on. what a scary scene when we look at sports. as fan the next time going into stadium security in the state is looking at this, we need to open doors and eyes to what else -- cheryl: isn't it argentina two different teams in same city but they can't go to the other game because of violence. jared: widespread. they are not the only ones. lauren: i've been to violent match in brazil, kind of how they do it. jared, thank you. he's always pleasant and
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peaceful here. jared sports reports, 24/7, siriusxm 115. cheryl: take a look at futures before we go to break, all to the upside, dow up 78 in premarket, now washington, fight over funding the president's border wall and that's threatening a government shutdown. >> we funded $1.5 billion but president trump is very clear that $5 billion is the number that needs to be included for this to work. cheryl: and this year's hottest holiday toy is causing all-out brawls in stores and not stadiums, you won't believe what it is, coming right back.
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lauren: let's get you caught up on what's happening now.
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markets up 3 day in a row, s&p up 7, nasdaq up 22. information from the flight data recorder on the downed line air jet show it is pilots fight to go keep the plane in the air. the investigation confirms the theory that a newly-installed system in the boeing plane malfunctioning forcing nose down repeatedly and investigators say, quote, the plane was not air worthy, the crash killed 189 people. new york governor andrew cuomo is ruling out running for president in 2020, he says he has a lot of his plane but believes they'll be a, quote, viable candidate in the democratic field. a new hot toy of the holiday season is here and also the root, get it, of some grocery store drama, fights are sprouting over the new kevin the carrot toys, there it is. one shopper described chaos.
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very cute. cheryl: very cute. let's move to another story we have been following for you here at fox, gridlock in congress over funding for president trump's proposed border wall and the president is not ruling out a partial government shutdown if he doesn't get the 5 billion he wants to build the wall, so far senate democrats are only supporting a bipartisan $1.6 billion deal that was agree today earlier this year. >> if there's any shutdown it's on president trump's back, first, left to our own devices to senate and house can come to an agreement, second, the dem -- the republicans are in control of the presidency, the house and the senate are shut down is on their backs. stick to the 1.6 billion. cheryl: is there appetite for shutdown on either side? let's bring in attorney jena ellis and rochelle. rochelle, politics side to you first, is there appetite to shut
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the government. several department to have funding, including homeland security, is anybody willing especially on the democratic side to get in the way of frankly keeping the government running? >> look, we already know that the president would love to see a shutdown, he said so in february that he would love to see shutdown over immigration, what republicans fail today remember that in 2013 the democrats did put forth immigration bill, $40 billion which would have provided 40,000 additional border agents at the border. it would have also extended 700 miles and extended more than security measures, so democrats have been on board and republicans during that time in 2013 they said absolutely not and i think this $5 billion that republicans are offering up that's supposed to span over 3 years, to put a pacifer to keep in president's mouth and they know they cannot stand more
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reckless spending. cheryl: i don't know ant reckless spending, a lot has been good for the economy i do know that. you've got actually 10.7 million right now illegal immigrants in the united states, that's actually down and the one thing that seems to be agreed upon and that's why -- we do need border security, listen to what senator lindsey graham had to say about that. >> everything concerning about the caravan is coming through, if you don't see a a problem on méxico and united states, you hate trump too much. secure the border is bottom line to the president. cheryl: 1.6 billion is the bipartisan number, do you think we can secure borders with that, maybe not a wall but more security if that money is spent correctly? >> but the wall is what president trump has said and
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campaigned on and last major campaign promise that he's going to seek to fulfill and i think that she should conservatives and particularly his base who have supported him expect a wall and i think that he's prepared to require congress to fund it and so really especially before the democrats take control of the house, the political reality is he's going to have to force the issue now and so he's smart to do that. cheryl: do you think president trump will shut down the government over wall funding, do you think that's going to happen? >> absolutely, i think he's proven that with government shutdown earlier this year and i think that for his negotiating ability holding that to congress and saying, listen, this is something that you will do regardless -- cheryl: i'm not so sure, rochelle, respond to that, they need democrats on board, they don't have to get anything to the president's desk. >> as schumer said, the republicans right now are in control, so it is really on the backs of them to get this done
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and like, you know, this whole immigration battle is over hispanics and mexicans coming into the country illegally but president trump said that this was in response to drugs coming into the country and if we look at what happened just 2 days ago in san luís arizona, tunnel found drugs, cash being smuggled through tunnel. this is a 20th century solution, border wall, 21st century problem. cheryl: no, again, i think we can say it's pretty bipartisan that the border does need to secure and how we do it and pay for it -- >> and it's 25 billion and we are giving 1.6, what is that going to do? >> the wall isn't the only solution but it's a large part. just the wall itself is not going to be the permanent solution but that's a huge part of that and that's, again, what president trump campaigned on.
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cheryl: great topic, we have to run. >> thank you. lauren: we will be right back after this. [phone vibrating] [female narrator] if a landlord threatens to evict you or increase your rent unless you provide sexual favors, that's sexual harassment
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[slapping] and it's against the law. file a complaint at hud dot gov slash fair housing.
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lauren: facebook ceo mark zuckerberg criticized by lawmakers around the world for being no-show refusing to testify in the uk about fake news, michael houston, hey, michael, how much damage is facebook doing to reputation and
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share price down 40% in four months? >> yeah, he's not really winning any friends here in the uk or globally for that matter. he does appear to be very selective about the type of representatives he tends to appear in front of, he appeared in front of u.s. congress, the european parliament but i think when the questioning gets slightly more forensic and being quizzed by lawmakers that have better grasp of detail he goes missing in action so to speak and that speaks to a wider concern that maybe he could actually get a question that he doesn't really want to answer and that's not a really good look and ultimately does enormous damage to the facebook brand and i think that's raised possible questions about antitrust measures going down the line because he's not winning any friends. cheryl: none of it looked really good, michael hewson. thank you. lauren: maria bartiromo, good morning to you. maria: good morning, ladies,
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thank you so much. happy wednesday, good morning, everyone, thanks for joining us, i'm maria bartiromo, wednesday november 28th, top stories right now before 6:00 a.m. on the east coast. president trump versus fed chairman jay powell, the president lashing out at powell again in new interview with the washington post, comes ahead of highly-anticipated speech today from jay powell this afternoon. 12 noon, meanwhile g20 countdown is on, the focus on president trump's working dinner with chinese president xi jinping on saturday. the question is whether they make a deal on trade is still up in the air. and then there's this, a new threat for general motors. >> there's disappointment that seems like gm would rather build electric cars in china rather than the united states, we are going to be looking at certain subsidies regarding electric cars and others whether they should apply or not. maria: president trump confirming that possibility, we are looking at the fallout of take get away those subsidies.
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investors showing signs of optimism this morning, take a look at futures, higher opening for broader averages, dow industrials up almost 90 points, s&p also up third percent and nasdaq up 28 points, we are getting second reading on the third quarter gdp this morning, we are expecting to show growth of 3 and a half percent to the gdp for third quarter, markets are up ahead of that. gain as -- across the board. nasdaq was up 8 points -- i'm sorry, nasdaq up a fraction under 1 point and the s&p 50 was up 8 points at the close, about third percent. in europe this morning mix, dax index in germany up 28 points. in asia overnight, gains across the board, take a look at best performers there, japan, hong kong, china, all up better than 1%

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