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tv   FBN AM  FOX Business  May 22, 2019 5:00am-6:00am EDT

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lou: but still steal a lot of american stuff, that is it for us tonight. join us tomorrow. thank you for being with us, good night from new york cheryl: here are your market movers at 5:00 a.m. president trump doubling down on his usmca trade deal. now he's telling chuck and nancy no he deal on infrastructure unless they pass his trade deal. round two of those talks kicking off today. china now changing its tune on renewed trade talks with the u.s. they're pointing the finger at us for the breakdown l earlier this month. the latest on the trade war as president trump readies relief for america's farmers. a new robotic bay ris barista ig down your wait time for coffee. will the future of artificial intelligence steal our jobs or create more? a blast from the past is about to make you feel like you're
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living in the upside down. how coca-cola is turning to netflix's stranger things to make what is old new again. it is wednesday, it's may 22n may 22nd. "fbn: a.m." starts right now. ashley: welcome, everybody. let's a take a look at how your money is moving at 5:00 a.m. stock market futures slightly lower. the dow off 40 points, s&p and nasdaq also down about a tenth or two tenths of a percent. take a look at the price of oil, down 68-cents, at $62.45 a barrel. overnight in asia, let's take a look there. mixed performance yesterday, perhaps more positive today. the nikkei up, the hang seng, kospi up by two tenths of a percent. over in europe, well, the ftse in london up, the cac in paris
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down 11 points and the dax also slightly higher at this hour. cheryl: merci. good morning. we would like to welcome you to to "fbn: a.m.." good morning, i'm cheryl casone. ashley: i'm ashley webster in for lauren simonetti. cheryl: president trump is set to meet with democratic leaders this morning to discuss how to pay for the $2 trillion infrastructure package. the president sent a letter to nancy pelosi and chuck schumer, saying congress should approve his trade deal with canada and mexico first. he said, quote, once congress passed usmca, we should turn our attention to a bipartisan infrastructure package. democrats have signaled they won't allow a vote on usmca without changes that would strengthen labor rights in mexico. ashley: china's ambassador to the u.s. says the door is still open for trade talks, that's good news, but the trump administration says negotiations broke down after china backtracked on earlier comments.
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but the breakdown is now being blamed on the u.s. >> if we review the process of trade talks between us over the last year or so, it's quite clear it is the u.s. side that more than once changed their mind overnight and broke the tentative deal already reached. so we are not -- we are still committing, we are still committed to whatever we a agreed to do but it is the u.s. side that changed its mind so often. cheryl: the trump administration is preparing another aid package for u.s. farmers, hit by the tariffs. we'll get that part of the story from blake berman. >> reporter: a second relief package for farmers is coming into focus as we're told the president could make that announcement potentially some point this week. the guidance coming from a usda spokesperson who says the following in a statement, quote,
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details on the new trade mitigation program will be forth coming shortly. but we want to make clear that the program is being designed to avoid skewing planting decisions one way or another. the trump administration has yet to provide details. the president floated the possibility of buying some $15 billion worth of products from farmers and delivering it as aid to other countries in response to china's latest batch of retaliatory tariffs. >> we love our farmers. we take care of our farmers. are farmers have been incredible. no don country can get in the wf our farmers. our farmers are great patriots and they've done a fantastic job. our farmers are going to be very well taken care of. >> reporter: this would be the second bailout from the administration as last year the usda pledged $12 billion in help for farmers who were caught up in the middle of the trade war. back to you in new york. cheryl: well, our very own jeff flock will have more on the trade war's impact on u.s. farmers throughout the day today right here on the fox business
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network. ashley: the trump administration is said to be considering additional chinese tech companies to blacklist, daytona beachening the trade war with china. reports say the administration is thinking about cutting off american technology to as many as five chinese companies. this expansion would go beyond huawei and would include world leaders in video surveillance. u.s. officials say they are concerned about the company's role in helping beijing repress muslims in china's west. cheryl: big story that's been followed by many in the country. well, there are more problems for boeing. a boeing executive now accused of downplaying the events around the indonesia plane crash and that his words may have led to the ethiopian disaster. the wall street journal reports that executive mike senate told american airlines pilots that well trained pilots could safely respond a repeat of the events that led to the crash in indonesia and pilot awarenes aws
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would have helped as well. ashley: congressional leaders meeting with white house officials to excuse a two-year budget deal but the talks have hit a brick wall. cheryl: they certainly did. let's get the latest from our very own hillary vaughn. good morning. >> reporter: good morning, ashley and cheryl. budget talks on capitol hill between the big four congressional leaders, kevin mccarthy, chuck schumer, nancy pelosi and mitch mcconnell broke down with no deal. that after the big four met in the morning and decided to come back for more at the end of the day. senate majority leader mitch mcconnell came into round two of talks optimistic they would land a deal. >> a negotiated agreement with the house democrats is the best of three alternatives. the other two being arguing back and forth over the length of c.r. for god only knows how long, or a sequester which hits
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defense with about $71 billion cut at the end of the year. >> reporter: about 45 minutes into the meeting he walked out without saying a word to reporters. moments later chuck schumer followed and said there was no deal. earlier chuck schumer hinted at some problems, saying there were some details that were still up in the air. >> there is still some significant issues outstanding, particularly the domestic side spending issues, things like healthcare and infrastructure and things that average middle class folks need. but we're having good discussions. >> reporter: leaving the meeting at the end of the day yesterday, chuck schumer telling reporters they couldn't agree over nondefense spending. schumer saying they need to figure out how to compromise and fund the needs of the middle class. kevin mccarthy saying there's no surprise that things broke down and says these things take time. ashley and cheryl. ashley: they certainly do. hillary, thank you very much. steve mnuchin will appear before
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the house financial services committee today. the hot topic will be president trump's tax returns. congress wants to see them but so far mnuchin has refused to release them. maxine waters says she plans to press him on his claim the president had no role in the decision. mnuchin's testimony comes amid reports that a confidential irs memo says the release of the tax returns is mandatory unless executive privilege is invoked. cheryl: sound like it's going to the courts. here are some other headlines making news this morning. the united states is accusing syria and bashar assad of use chemical weapons again. the government says there are signs he may have ordered a chlorine attack on civilians a few days ago. the state department released a statement warning syria that the united states and allies will respond quickly if any of the allegations are proven true. saudi arabia and the u.s. are
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changing their energy roles. the kingdom entered into 20 year agreement to buy liquefied nat gas from sempra energy. historically the saudis have been a major supplier of oil to the u.s. with the boom of shale drilling in the united states, the energy department says america will become a net energy exporter by next year. a world famous american beauty company is being sold. reports say that avon products is nearing a deal with brazil's natura cosmetics. the price tag, more than $2 billion. avon became famous for the door-to-door sales force back in the day. they've been under pressure from the rise of online sales. starbucks is being sued for using a powerful test control product in several manhattan locations. they accuse the company of endangering people by claiming they put the product by products
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and drinks. they say no one's health was ever compromised. the great white shark making a big splash in connecticut over the weekend, appears to be heading to the ha hamptons. the 10-foot long shark wa was pinged off the beach of west hampton beach yesterday. fans crashed the website that tracks him, leaving his fans in the dark. ashley: checking on futures this morning, di the dow about 6 points at this hour for a slightly lower opening. powerful tornadoes and widespread flooding ripping through the heartland overnight and more severe weather is on the way, janice dean will have the latest from the fox weather center. and facebook users are being targeted by scammers pretending to be terrorists.
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how an isis trick is infiltrating the social network. don't miss this. you are watching "fbn: a.m." ♪ american boy. ♪ take me to new york, i'd love to see l.a. ♪ i really want to -- with licensed agents available 24/7. it's not just easy. it's having-a-walrus-in-goal easy! roooaaaar! it's a walrus! ridiculous! yes! nice save, big guy! good job duncan! way to go! [chanting] it's not just easy. it's geico easy. oh, duncan. stay up. no sleepies. in the unstoppable john deere it'gator™ xuv835. and be prepared to go the extra mile. because when others take rain checks... ...we take the wheel.
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...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. ashley: wild weather indeed. powerful tornadoes and widespread flooding ripping
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through the heartland. this massive twister touching down in junction city, kansas. this trailer flew into a mobile home in dale, oklahoma. flooding a major concern in oklahoma. rescuers found this man clinging to a fence post in rushing water. one person was killed when their car was swept away. cheryl: the region is bracing for more rain today. the system is moving east. let's bring in senior meteorologist janice dean live in the fox weather center. incredible stuff, janice. janice: we had dozens of reports of tornadoes yesterday and of course the flash flooding which is ongoing. we've got kind of the stationary front that is positioned and on that front, in front of it, that's where we're going to see the potential for heavy rainfall and severe storms, more severe storms including hail, damaging winds, flooding rainfall and isolated tornadoes throughout the day in some of the areas that got hit yesterday and the day before that over the
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weekend. here's the radar estimated precipitation. in some cases 4 to 6 inches of rain in a very short period of time. we've seen those high water rescues. unfortunately, more of the same today. we've got more rain in the forecast, of moving through this area and behind it, my friends, if we weren't talking about severe weather, we would be talking about incredible amounts of snow over the rockies. we'll be dealing with unfortunately weather related news over the next couple days, into the memorial day weekend. ashley: we'll be very busy, janice. thank you very much. cheryl: still ahead, tensions escalating with iran as its president goes on the attack overnight, saying his country will not bow to white house bullies. where does this leave the united states in all of this? and the happiest place on earth teaming up with amazon to make sure you've got everything you need while you're on vacation. what did you forget? you might get it quickly. we've got details coming up.
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cheryl: some democratic lawmakers remain skeptical of the president's middle east policy after being briefed by trump administration officials on iran. ashley: jennifer griffin is at the pentagon with the details. >> it was not very enlightening. >> reporter: democrats who demanded national security briefings remain skeptical that the administration had a plan to avoid a war. >> we know iran is bad. what is the policy going forward? there wasn't enough information on that. >> a war with iran would be an absolute disaster and i hope the american people tell this administration that we will not
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go to war. >> this blind escalation with the hope that the iranians will come to the table in the end. >> reporter: republican lawmakers had a different reaction. >> there's a very good brief thing, they explained to us how the iranian threat streams were different than in the past, that the you attac attack on the shie pipeline coordinated and directed by the iranian government. >> there's no intention to go to war in the region. this is a deterrent operation to stop iran's escalation. >> reporter: acting defense secretary patrick sahn than defended -- shanahan defended the intelligence. >> the intelligence borne out in attacks and i would say it deterred attacks. we have deterred attacks based on reposturing of assets, deterred attacks against american forces. we walked through our efforts and our ultimate objective over
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the past days, which has been to deter iran. >> reporter: iran's foreign minister ruled out negotiateing with the trump administration, warning third parties may try to pull iran and the u.s. into a direct confrontation. >> we believe the united states is playing a very, very dangerous game. >> reporter: general he jo joe dunnford canceled a trip to nato due to unforeseen commitments that require him to remain in washington, d.c. ashley: more on this now from james ca carafa hadano joins us. i'm always fascinated how two people can go into a room, one comes out a democrat and says they didn't tell us very much and a republican comes out and says it was very thorough, we now know what we're facing. but bottom line, it appears to me and the president has said he does not want to go to war. he just wants to deter, and
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that's why we are a military buildup in the region to send iran a message. is that the way you see snit. >> look, the crisis is already over. it's like two people after the last episode of game of thrones and they're arguing who is going to sit on the iron throne. we're done. there was a legitimate threat. the u.s. actually sent warnings to the iranian through back channels before we did the deployment, telling them to back off. they didn't. the u.s. deployment has actually caused iranians to back off. the crisis is really done here. we're now back debating what the long-term strategy is. the u.s. has the right strategy. the iranians are doing this stuff because they feel the pressure the administration has put on them. they're pushing them back in the box. that's the right thing to do. ashley: i've got to talk about brexit and the latest attempt by theresa may to -- god bless her, she's tried again and again and again, this is the fourth attempt, a 10 point plan which no one seems to like after she unveiled it yesterday, so bad
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she's putting out a plea to jeremy worjerry corbin. she said i ask you to compromise too so we can deliver what both of our parties promised. i don't think this can get through. i think theresa may's time in number 10 is very short indeed. what say you? >> the plan will get voted down. she essentially -- that's the end of her term. there will be probably a new leader in place by the conservative party congress in september. the frontrunner is likely borris johnson. borris johnson is pro-brexit. the brexit party will do well in britain and the european election. i think the momentum for britain leaving the european union in october is almost -- i think that's at this point a done deal. ashley: the conservatives don't have a majority in parliament. do you not think borris may be forced if he does lead the
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conservatives, may be forced to call a general election in order to try get a majority in parliament. >> i think they'll do everything humanly possible to avoid doing that and i think everybody including all their friends and allies hope it happens. nobody wants to see jeremy corbin sitting in number 10 downing street. ashley: we'll leave it right there. i couldn't agree there. thanks so much for joining us this morning. >> thank you. cheryl: she has put up a good fight, though. ashley: she's been persistent. i think the end is near, putt it that way. cheryl: well, we are just beginning our day here in this country. here are your futures this morning, dow down just a little bit, 19. s&p down two and a quarter, nasdaq down 10. still a ahead, democrats meeting behind closed doors this morning to confront speaker nancy pelosi and push her to act on calls to impeach president trump of. is she going to budge and what will it mean for the 2020 road to the white house? and parents always talk about how their kids are going to be a doctor or a lawyer. right? but you won't believe how early
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ashley: let's get you caught up on the global market action, beginning with u.s. futures. they are pointing slightly lower, the dow off just 7 points at this hour. meanwhile, over in europe, stocks have been moving, well, mostly higher. there you go. even the cac turned around now. the ftse in london up about half a percent, same story across the rest of europe. in asia, the nikkei, hang seng, kospi, all gaining ground modestly. the shanghai down just about half a percent. cheryl: back at home we have big news coming. calls for impeachment intensifying after former white house counsel don mcgahn defied a congressional subpoena.
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they will meet behind closed doors to confront nancy pelosi and push her to act. ashley: griff jenkins joins us from washington as the democrats insist they are not divided. >> reporter: good morning. the drum beat is growing louder as the white house is defiant of the democrats' demands is fueling this fire. >> we can do no less because the rule of law demands it and to override lawlessness you must do your job. >> reporter: an empty chair marked the spot where don mcgahn was supposed to testify before the house judiciary committee but sat it out at the president's request. jerry nadler was not pleased. >> mr. mcgahn has a legal obligation to be here for this scheduled appearance. if he does not immediately correct his mistake, this committee will have no choice but to enforce the subpoena against him. >> reporter: it didn't stop the chairman from issuing two more
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subpoenas. a form rer white house aide and amy donaldson. no word on whether they will reply. if they don't they'll join ranks with mcgahn and attorney general wil will william barr wo defied a subpoena. the president said they are on a fishing expedition. never happened to a president before, never even happened to president obama. this as the pressure on speaker pelosi moves towards impeachment continuing to mount, the speaker downplaying division when asked about it in the l halls. >halls.>> are you going to incre pressure to impeach the president in the caucus? >> no. >> [ indiscernible ] >> reporter: the thing to watch today as you mentioned, ashley, fox is told the speaker is
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holding a special strategy session behind closed doors with some democrats to try to get on the same page. i think billy joel wrote a song about this, it's called "pressurepressure ." cheryl: that's true. let's bring in political white house reporter, gabby orr. can pelosi hold off the growing group of dems who want to impeach the president? >> i think the question right now. look at how much pressure she is facing. you have the house judiciary chairman wanting to begin articles of impeachment, a number of 2020 wants to do this and a lot of members of her caucus with significant influence in the house are trying to urge her to pursue impeachment. so far, house speaker nancy pelosi has held off. i think that's one of the reasons she's convening this meeting of house democratic conference this morning, to sort of discuss all of the robust oversight efforts that democrats
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are pursuing as a way to sort of get around impeachment. but i don't think this is going to go away for pelosi. this is something that she is going to have to come to terms with, that the democratic party has moved further and further to the left and that impeachment might be the only option for them at this point sure you know what, gabby, americans don't want this. look at the latest fox news poll from seral may. should he be impeached? 42% yes, 50% no. i saw a wall street journal nbc news poll and it was more skewed to americans that were saying no, nobody wants to go down this road. nancy pelosi was pretty confident in her quietly spoken "no," i want to add, during griff's report. why is this being ignored by the democrats? >> a lot of democrats feel the more progressive wing of their base is in charge and they need to satisfy them if they want to drive up voter enthusiasm heading into 2020.
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neither of the l polls are anomalies. if you look at the first seven polls released after mueller's report was made public, every single one of them had a pleurality or majority of americans saying pursuing impeachment would be the wrong decision and about 40% on average in those polls say they would vote against a democrat in their district who encouraged impeachment. cheryl: i was going to say, because -- i'm glad you brought that up. i was going to say, this could actually help the republicans and help president trump in 2020. we all remember of course bill clinton and the impeachment proceedings. that destroyed the gop when they came up for reelection. don't they -- aren't the democrats looking at history? >> yeah, not only did it destroy the republicans, it gave bill clinton a 10% boost in his approval rating just days after the house started impeachment proceedings. i think that at least pelosi is taking that into account, one of the reasons why she is trying to steer her caucus away from this.
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cheryl: was aoc even born? anyway, this younger generation is killing me. gabby, thank you very much. you're not. great to have you, gabby orr. ashley: she probably wasn't. let's take a look at other headlines making news this morning. qualcomm losing its anti-trust against the ftc. a federal judge ruling the company stymied competition in the market for cell phone chips and they used their position to get excessive licensing fees. there was a separate and similar lawsuit brought by apple. the house budget committee will hold a hearing on medicare for all this morning. they will answer about the risk of a one size fits all had healthcare system, including how it could affect the budget. house republicans estimate the legislation could cost more than $30 trillion. a house committee is holding a hearing this morning on the use of facial recognition technology by the government.
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the committee on oversight and reform is examining how the technology affects the rights of citizens. meanwhile, amazon shareholders will vote today on proposals that would cause them to limit the sale of facial recognition technology to the government. you never have to worry about leaving something at home when you go of to disney world. according to readers digest, amazon is offering same day delivery for all prime members in orlando florida, that means personal items like shampoo, groceries or an extra stroller are just a click away. nothing worse than leaving your groceries behind when you go to disneyland. coca-cola is bringing back a product flop. new coke will make its return as part of the promotion with the netflix show, stranger things. the show is set in 1985 when new coke was born. consumer backlash led to the quick return of the original version. new coke won't be available in
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stores. have you to buy it on coke's website. oh, joy. cheryl: that was the biggest marketing flop of the '80s. by the way, alexandria ocasio-cortez, october 13th, 1989. ashley: '89. cheryl: she was born in '89. ashley: i got these shoes in 1989. no, i didn't. cheryl: let's take a look at futures. kind of a quiet morning for your money. the dow is up 6, s&p is barely in the red by a quarter of a point. coming up, retailers feeling the heat of the u.s. trade war with china but now beijing is changing its story. could a deal be on the horizon or is this just negotiating tactic? and from flipping burgers to making coffee, robots taking over more and more jobs. will the future of artificial intelligence steal our jobs or create more? we're going to break it down on "fbn: a.m.." ♪ just get ready for work, work, work, work, work.
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blink first. as this drags on, how much pain is the u.s. economy going to feel? >> well, it's a decent size the u.s. economy, the u.s. economy can overcome it. what we have to worry about is the longer and more protracted this thing lasts, you're going to have the best way to put it is how long -- how would a business come back from having their customers go elsewhere for two years. we might open up and be ready for business and have some sort of agreement a year and-a-half down, two years down the road, but are you going to get all your customers back. while this takes longer, china's going to get used to buying from other suppliers and that's the big problem. there's going to be a degradation. you're not going to get the customers all to come back. i know that's something that small businesses are worried about and the farmers. so i think he's going to try to wait president trump out. i think that he doesn't have any cnn polls, xi has nothing to worry about over there. i thinks he's going to give that a shot. they're going to do a back and forth thing, we'll get close and far away and it will take a lot
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longer than people think. ashley: some of the latest earnings from retai retailers, , jc penney, home depot. they were a little disappointing and that was without the tariffs starting to bite. so is that a concern? >> yeah, it is a concern. i mean, look, if we take the total amount of the tariffs that the u.s. consumer will have to pay, roughly $65 billion, that's a third of the tax cut trump gave tactaxpayers -- trump gave taxpayers. that's going to be a big chunk. we would like gas price toss offset that. we'll be able to get through. it will probably cost us half a percent in our gdp which is not good, especially when we may be on the downhill side of the expansion. the u.s. economy is still doing well enough that we'll be able to survive it. the problem is, once we open the doors and we get a deal, are all your chinese customers going to come back and will they get used to buying from somebody else. i think that's the biggest worry. ashley: i think you're right.
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want to talk about the fed, we get the fed minutes later today from their last meeting. do you get the sense that because inflation has been so stubbornly low that, the door is still open for a rate cut? >> yeah, i do. i think that bullard said something on the tapes overnight, that may they overdid it with the rate hike in december. here's what i think. i think we'll talk about the ugly word, deflation. if we don't see any inflation from the higher tariffs coming to the u.s., if we don't get inflation out of that, that's going to spook a little bit and we'll start worrying about deflation and that's definitely a problem and that's when you see the rate cut talk getting louder. ashley: we don't want to be japan, bottom line. thank you for joining us this morning. really appreciate it. >> no problem. ashley: a programming note for you. edward lawrence will interview dallas fed president robert kaplan live today at 23:0 2:30 . eastern time.
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cheryl: futures, a a flat morning, dow is unchanged, s&p down a quarter, nasdaq down 6 and three quarters. scammers pretending t pre -- pre terrorists is targeting users on facebook. how an isis trick infil infiltrd the social network. artificial intelligence, is it coming after your job? we discuss on "fbn: a.m." ♪ dancing in the moon light. ♪ everybody's -- efore, even though geico has been- ohhh. ooh ohh here we go, here we go. you got cut off there, what were you saying? oooo. oh no no. maybe that geico has been proudly serving the military for over 75 years? is that what you wanted to say? mhmmm.
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cheryl: one coffee shop in california using a robot to make your next cup of coffee. robert gray takes a look at the
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marriage of high tech and a cup of joe. >> reporter: meet gordon, the nation's first robot barista at cafe x in san francisco, it's located on market street which goes through the financial district. the founder and ceo got the idea for gordon after standing in too many lines and getting too many wrong coffee drinks. he thought robots could do a better job. >> we're trying to create the coffee experience of the future. there's benefits for the customer which i mentioned faster, better, cheaper. there's a lot of savings on labor costs, real estate costs and also the food cost because there's less waste. >> reporter: you punch in your order on a digital kiosk or order ahead using a mobile app. then gordon makes the order. it actually brews and makes the coffee drink in 10 seconds or less. there are humans that work here, refilling the beans and working the front of the house, helping some folks place their orders or introducing new products, such
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as pastries. the company sees an underserved area. there are pretty good margins since there aren't many humans working here. if you like to talk to your b a arista, gordon doesn't talk to you but he will do a dance and wave to you when he's done with your order. in san francisco, robert gray, fox business. cheryl: robert, thank you. okay. so the use of robots is growing in america. but is artificial intelligence threatening our jobs. let's bring in ian wishinggrad, and milton isr ati. good morning. i want to start with you, milton. every time we see new technology when it comes to a.i., whether in manufacturing cars, now it's in our coffee shop, americans get really worried that jobs are going to disappear. is that true? >> the robots take the jobs that were done by humans. the question is, in the broader sense, whether the savings that are involved, whether the
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technology itself can expand to other areas and create new jobs. and the experience of history has always been that it creates new jobs, that's not getting away from the angst and the pain of the people who lost their jobs in the initial introduction, like the baristas in your story. cheryl: i want to follow up on what that training may look like for those that lose their jobs. ian, is the technology from your perspective advanced enough to really threaten american jobs? are all coffee shops going to have a robot? >> well, i don't know about every single coffee shop. i think you have to figure out what's best for the consumer experience and some people might not like to get greeted by archie 3000 when they get their coffee in the morning. but i think what you could definitely bet on is the fact that the technology is getting into parts of the business that we would have never expected before. a lot of times the disruption happened behind the scenes, like in agriculture that a lot of us
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didn't experience. when it replaces the cashier as you check out of a grocery store and even though white collar jobs, even an accountant or some other legal job, you'll be surprised what a.i. can do. anything that requires great repetition time and time again is vurl -- vulnerable. that's what's scary to a lot of people. with destruction comes creation. if they do a good job reeducating people, there will be other jobs. cheryl: i wanted to follow up on that point you made, that means reeducating the population. i would think that would mean more stem education. isn't that kind of crucial at this point? >> well, i think that stem education helps and certainly it has applications in the future. but i think it would be too narrow an approach. one of the things that makes it so hard to deal with this is no one can imagine what's going to come. in the past -- i mean, we've been dealing with a.i. for hundreds of years, since the industrial revolution. it's not computers but they were
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machines replacing people and no one could imagine what the jobs to come were and so trying to train people for these jobs before we even know what they are is likely to steer people in the wrong direction. i think stem might be too narrow in this respect. one of they things we discovered in economic research is that the imagination, the applications of technology often are done by people who are far from stem-educated. they see the need in the marketplace and bring it there and it's stem that doesn't necessarily help. cheryl: that's a good point. who knew we needed netflix but we need netflix. also, we've had some kind of missteps with some of these robotics. like the burger flipping robot, that ended up being a disaster, the bot was over well med. we do -- overwhelmed. we do do stories where we say this will happen and the technology doesn't come through. maybe we are a long way off from this really being true. >> one of the things that people
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-- futureists talk about i reale we have to change business practice to apply the technologies we have. cheryl: ian, same question for you. >> hollywood and a lot of news stories paint a dystopic future. ask yourself about alexa. that's the beginning of it. if we see robots as task rabbits that help us get things done and augments our existence, that's not so scary. i think the idea when start talkerring about they have their own mind and will take us over, that's scary and that's an ethical and legal decision. that's a big part of the discussion in our country. that's why it's scary that the tech companies have the learnings and have insane power going forward and that's why they say world war iii or whatnot, china, russia or america, it's a war over this,
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that's the level of intelligence that's scary. cheryl: i'm scared just listening to your phi l nail thought on that. -- final thought on that. thank you so much. really fascinating discuss. appreciate it. >> thank you. cheryl: we'll show you a company that may not have a great morning today 678 qualcomm, stock is down more than 12.5%. this is the premarket read, 67, 97. we told you they lost an anti-trust case against the ftc. the federal judge ruled for the ftc and basically said the company stymied competition in the market for chips and they said they strangled competition the judge ruled they used their position to exact excessive licensing fees. this is one of the tech stocks we're watching today. we're also watching facebook. users are being targeted by
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scammers tendin pretending to be terrorist. we have details of the threat that's lurking on social media. it's never too early to get your kids ready for the future, right? at least that's what some parents are saying. you will not believe how young some say they want their kids started on their career path, as in picking it. details, next. ♪ i will never say never. ♪ i will fight. ♪ i will fight til forever. run with us in the unstoppable john deere gator xuv835, because when others take rain checks... we take the wheel. run with us. search "john deere gator" for more.
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♪ confusion. ♪ i leave it all up to you. ashley: beautiful shot -- cheryl: beautiful shot of new york city this morning. a terrifying social media scam is going around, it's been set up by hackers that pose as terrorists. tracee's got this story. so they're posing as terrorists. tracee: this is pretty crazy. they this is a very elaborate scam. now there's a new warning from the department of homeland security. they're saying you've got to be careful because scammers will make contact with you through messaging apps like facebook messenger or even that game, words with friends. they will befriend you and say i've fallen on hard times, i need money. they'll try to get that money from you and once you give it to them, the next day they're posing as law enforcement. they're saying hey, you've given
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money to a terrorist organization to isis, toal kai i da and you could face imprisonment. they say we'll put you in contact with a lawyer. that lawyer also in on the scam, says that you can pay $1,00 $1,r more as a retainer and that's how you get out of this. they're saying law enforcement does not ask you for money over the phone. that's the reminder from -- cheryl: you know with the older generation, they're all on facebook. you know that they are more susceptible than the younger generation to these scams. that's what's so scary. they prey on the folks that are 70 and older. that's a good story. so a study shows that parents feel that their kids should start forging their career path at a very, very young age. tracee: we're talking 5 and-a-half years old, that is what modern parents nowadays say that their kids should be kind of forging their career path, already starting to think about what they want to be and trying
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to develop those skills for that career path. cheryl: so what do they want? tracee: 2,000 parents were surveyed. 56% have a specific career in mind for their kids already. they want them to focus on five skills they should learn, written oral communication, tech, computer, literacy, mat mathematics, language. the top jobs, doctors, lawyers, engineers, programmers, they say the skills -- they try develop them younger. cheryl: my 6-year-old niece will be president. i know it. real quick, hugh jackman is hanging up this claws. there's a petition to have someone replace him. who is it? tracee: the change.org petition wants danny devito take take
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over his role as wolverine. cheryl: why him. tracee: why not. 10,000 people have signed the petition. they say no one can replace hugh jackman. cheryl: it would be a comedy if danny devito played wolverin pl. we want to a look at futures before we send it over to maria bartiromo for "mornings with maria." you do have a mixed market, maria. the dow is unchanged. "mornings with maria" starts right now. maria: thank you so much, ladies. good morning. i'm maria bartiromo. happy wednesday. it is wednesday, may 22nd. your top stories right now, 6:0. retail's terrible tuesday, the sector hit by a round of weak earnings and tariff warnings. those stocks got crushed. we take a look at what's in store for today with lowe's and target among the names reporting this morning.

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